1 00:00:00,360 --> 00:00:05,040 Speaker 1: This week's classic episode is one that remains relevant and 2 00:00:05,200 --> 00:00:10,600 Speaker 1: in no small way frightening in the in the modern day. Uh. 3 00:00:10,640 --> 00:00:14,200 Speaker 1: You know, when you hear about class structure in the US, 4 00:00:14,720 --> 00:00:17,400 Speaker 1: one of the big things you hear, especially every time 5 00:00:17,440 --> 00:00:20,480 Speaker 1: there's an election coming up, is you'll hear people talking 6 00:00:20,520 --> 00:00:24,599 Speaker 1: about the middle class. The people who are maybe not 7 00:00:25,960 --> 00:00:29,720 Speaker 1: the you know, working poor, right, maybe not dependent upon 8 00:00:30,320 --> 00:00:33,640 Speaker 1: direct government aid, but maybe they're also not you know, 9 00:00:33,800 --> 00:00:36,640 Speaker 1: a paycheck away from being out on the streets. But 10 00:00:36,680 --> 00:00:38,920 Speaker 1: they also don't own a yacht, you know what I mean. 11 00:00:39,200 --> 00:00:42,559 Speaker 1: They might have owned like a vacation house somewhere, but 12 00:00:42,640 --> 00:00:44,360 Speaker 1: that's that's it. You can there'll be a middle class 13 00:00:44,400 --> 00:00:46,000 Speaker 1: and on a vacation on a second home. I would 14 00:00:46,040 --> 00:00:47,280 Speaker 1: have thought that would have bumped you up to the 15 00:00:47,320 --> 00:00:50,519 Speaker 1: next level. I'm pretty sure when we're talking about the 16 00:00:50,560 --> 00:00:52,880 Speaker 1: middle class here, as we're gonna learn in this episode, 17 00:00:53,000 --> 00:00:56,360 Speaker 1: it is a lot of people at least that are 18 00:00:56,440 --> 00:00:59,440 Speaker 1: classified historically as being in the middle class. It's a 19 00:00:59,560 --> 00:01:04,280 Speaker 1: wide range or that call themselves the middle class. You know, 20 00:01:04,360 --> 00:01:07,720 Speaker 1: there's there's such a wide variation because you know, there 21 00:01:07,880 --> 00:01:09,679 Speaker 1: there are a lot of people who, of course they 22 00:01:09,680 --> 00:01:12,520 Speaker 1: say I don't want to think of myself as below 23 00:01:12,600 --> 00:01:14,920 Speaker 1: middle class. You might be surprised to learn there are 24 00:01:14,920 --> 00:01:18,039 Speaker 1: a lot of people that most people would consider upper 25 00:01:18,080 --> 00:01:22,880 Speaker 1: class who say, whoa, whoa, guys, I have only two rolls, Royces, 26 00:01:23,040 --> 00:01:25,640 Speaker 1: I'm middle class just like you. It makes me think 27 00:01:25,640 --> 00:01:28,000 Speaker 1: of that scene at thirty Rock where Steve Bishemy is 28 00:01:28,080 --> 00:01:30,959 Speaker 1: like wearing like a skater outfit and like holding a 29 00:01:31,000 --> 00:01:33,280 Speaker 1: skateboard and like a middle school and he's saying, you know, 30 00:01:33,640 --> 00:01:37,440 Speaker 1: greetings fellow kids. This would be like greetings fellow plebs. Right, 31 00:01:37,520 --> 00:01:40,520 Speaker 1: it's it's uh it Also, speaking three reck reminds me 32 00:01:40,560 --> 00:01:43,360 Speaker 1: a little bit of that Alec Baldwin line that always 33 00:01:43,400 --> 00:01:46,720 Speaker 1: stuck with me. Uh. Liz Lemon asked him why he's 34 00:01:46,760 --> 00:01:50,480 Speaker 1: wearing a tucks and he says, it's after six Lemon, 35 00:01:50,560 --> 00:01:55,440 Speaker 1: what about a farmer god? And so we see, I 36 00:01:55,440 --> 00:01:58,720 Speaker 1: mean we're joking. But today's questions is the middle class 37 00:01:58,760 --> 00:02:02,800 Speaker 1: going extinct? Other questions um that we should probably think 38 00:02:02,800 --> 00:02:05,360 Speaker 1: about two as we listen to this classic episode are 39 00:02:06,280 --> 00:02:08,880 Speaker 1: has the middle class already gone extinct? What is the 40 00:02:08,919 --> 00:02:12,120 Speaker 1: middle class? Was it a fad to begin with or 41 00:02:12,200 --> 00:02:16,880 Speaker 1: is it just endangered? Let's learn together from UFOs two, 42 00:02:16,880 --> 00:02:20,840 Speaker 1: ghosts and government cover ups. History has riddled with unexplained events. 43 00:02:21,360 --> 00:02:23,960 Speaker 1: You can turn back now or learn the stuff they 44 00:02:23,960 --> 00:02:32,280 Speaker 1: don't want you to now, Hello, welcome back. My name 45 00:02:32,360 --> 00:02:35,040 Speaker 1: is Matt and I am Ben, and this is stuff 46 00:02:35,080 --> 00:02:37,880 Speaker 1: they don't want you to know. And today, Ben, we're 47 00:02:37,919 --> 00:02:41,240 Speaker 1: tackling a topic that's gonna hit home with you right away. 48 00:02:41,360 --> 00:02:43,639 Speaker 1: And I can tell I know, how can you tell 49 00:02:43,760 --> 00:02:47,079 Speaker 1: me personally? Or everybody out there listening with us, everybody listening, 50 00:02:47,480 --> 00:02:51,880 Speaker 1: this is something we can all identify with, well, not 51 00:02:51,919 --> 00:02:54,400 Speaker 1: all of us, but we've probably heard about it. Perhaps 52 00:02:54,400 --> 00:02:58,280 Speaker 1: are robotic listeners who loved, uh love that episode, by 53 00:02:58,280 --> 00:03:01,160 Speaker 1: the way, perhaps they can identify with it now. Matt, 54 00:03:01,200 --> 00:03:03,040 Speaker 1: I have to say that a lot of people before 55 00:03:03,040 --> 00:03:05,480 Speaker 1: we get started, a lot of people don't know that 56 00:03:05,600 --> 00:03:09,720 Speaker 1: you have some amazing voices under your belt. I guess 57 00:03:09,800 --> 00:03:12,320 Speaker 1: in your throat. You get the gist of what I'm saying. Yes, 58 00:03:12,360 --> 00:03:15,840 Speaker 1: they exist mostly inside my throat. Some of them are 59 00:03:15,840 --> 00:03:18,880 Speaker 1: in my head. Um Ever, every once in a while 60 00:03:18,919 --> 00:03:22,880 Speaker 1: they coincide. So we did, uh, we did the opening 61 00:03:22,919 --> 00:03:26,200 Speaker 1: for this episode a couple of times today because Matt, 62 00:03:26,280 --> 00:03:31,000 Speaker 1: you were doing brilliant public radio voice that sounds really good, 63 00:03:31,560 --> 00:03:34,760 Speaker 1: and I was I was just messing up an Ira 64 00:03:34,880 --> 00:03:39,240 Speaker 1: Glass impression. So that's exactly what it was. I was 65 00:03:39,280 --> 00:03:42,360 Speaker 1: trying to picture what it was. N Well, if it's 66 00:03:42,360 --> 00:03:45,280 Speaker 1: a good impression, then you just know. Well, I haven't 67 00:03:45,360 --> 00:03:48,080 Speaker 1: been listening to as much this American life as I 68 00:03:48,160 --> 00:03:52,400 Speaker 1: probably should be. Well, we're big fans, but we also 69 00:03:52,440 --> 00:03:55,320 Speaker 1: want to tell you this, listeners, just so that you 70 00:03:55,360 --> 00:03:57,840 Speaker 1: know that maybe you can write to Matt asking them 71 00:03:57,880 --> 00:04:01,720 Speaker 1: to do some voices and uh maybe maybe he will 72 00:04:01,840 --> 00:04:05,960 Speaker 1: because I can't persuade you did hear them. No, you 73 00:04:05,960 --> 00:04:07,840 Speaker 1: would be hard pressed to persuade me to do this. 74 00:04:07,960 --> 00:04:11,200 Speaker 1: The voices are usually things I do, I don't know, 75 00:04:11,240 --> 00:04:14,960 Speaker 1: in the in the shower, in theater class in ninth grade, 76 00:04:15,200 --> 00:04:18,560 Speaker 1: in our office after six Yeah, that that's when they 77 00:04:18,600 --> 00:04:20,960 Speaker 1: really come. That's when they kick in. Yeah. I feel 78 00:04:20,960 --> 00:04:22,840 Speaker 1: like I can hear the voices in your head then too. 79 00:04:23,200 --> 00:04:28,279 Speaker 1: Uh So. One thing that I always think about when 80 00:04:28,560 --> 00:04:33,680 Speaker 1: I hear the phrase middle class, right is I think 81 00:04:33,720 --> 00:04:36,440 Speaker 1: about the what we call in the United States, the 82 00:04:36,480 --> 00:04:41,880 Speaker 1: American dream. Yeah, man, I think about suburbia, two point 83 00:04:41,920 --> 00:04:46,920 Speaker 1: five kids, maybe a dog, sometimes cats. In my case, 84 00:04:46,920 --> 00:04:50,800 Speaker 1: it was cats. Okay, Yeah, probably own a car, take 85 00:04:50,839 --> 00:04:53,719 Speaker 1: a vacation once in a while, at least making payments 86 00:04:53,760 --> 00:04:56,919 Speaker 1: on a car. Right, Yeah, What the heck is the 87 00:04:56,960 --> 00:04:59,680 Speaker 1: middle class? So many people in the West talked about it, 88 00:04:59,720 --> 00:05:03,000 Speaker 1: and the is always this big concern. You know, every 89 00:05:03,080 --> 00:05:07,120 Speaker 1: every few years, Uh, some pundit will come out on 90 00:05:07,240 --> 00:05:11,120 Speaker 1: your local radio or television say, the middle class is disappearing. 91 00:05:11,440 --> 00:05:14,080 Speaker 1: What does that mean? What does that mean? Well, let's 92 00:05:14,080 --> 00:05:16,359 Speaker 1: define our terms first of all, as we like to 93 00:05:16,360 --> 00:05:21,360 Speaker 1: do here. Well, the middle class is a financial label 94 00:05:22,040 --> 00:05:25,240 Speaker 1: above most other things, but it's also it kind of 95 00:05:25,240 --> 00:05:31,200 Speaker 1: talks about a lifestyle or refers to a lifestyle about 96 00:05:31,279 --> 00:05:35,880 Speaker 1: what a family of a family unit can afford. We're 97 00:05:35,920 --> 00:05:40,159 Speaker 1: again we're talking about home cars and you know, to 98 00:05:40,360 --> 00:05:46,040 Speaker 1: some extent, education and also even the ability to take vacations. Uh, 99 00:05:46,080 --> 00:05:50,719 Speaker 1: there are like budgeting and saving encompasses a lot of 100 00:05:50,720 --> 00:05:53,760 Speaker 1: different things, a little bit of life investing. So what then, 101 00:05:54,640 --> 00:05:58,880 Speaker 1: it's not just physical goods, the ability to buy physical 102 00:05:58,920 --> 00:06:04,039 Speaker 1: goods like what's eighties song? Uh? Material World? Yeah, do 103 00:06:04,040 --> 00:06:06,440 Speaker 1: you want me to go into it? How did they go? 104 00:06:06,760 --> 00:06:10,320 Speaker 1: I don't know that I can legally in this format, 105 00:06:10,440 --> 00:06:16,560 Speaker 1: but it's Madonna and I'm yes, I'm checking. Um, I'm 106 00:06:16,560 --> 00:06:19,719 Speaker 1: throwing aside. I hear with our super producer Noel Brown 107 00:06:19,760 --> 00:06:22,200 Speaker 1: on the ones and twos because you guys, Matt and Noel, 108 00:06:22,440 --> 00:06:25,280 Speaker 1: no uh darn your everything about music. They know a 109 00:06:25,279 --> 00:06:28,839 Speaker 1: lot of stuff which is dabble. We dabb you guys 110 00:06:28,920 --> 00:06:32,120 Speaker 1: dabble for sure, which is why every so often you'll 111 00:06:32,120 --> 00:06:36,360 Speaker 1: hear some uh some amazing sounds on our audio podcast, 112 00:06:36,360 --> 00:06:43,160 Speaker 1: our video podcast. But I digressed so hard. Yes, So 113 00:06:43,279 --> 00:06:47,080 Speaker 1: it's not just that this households could buy material goods. 114 00:06:47,320 --> 00:06:51,720 Speaker 1: It's that there is this lifestyle. Um. Maybe they don't 115 00:06:51,839 --> 00:06:57,159 Speaker 1: have two homes and travel to Florida every winter or something, 116 00:06:57,520 --> 00:07:00,920 Speaker 1: but they do probably have a summer vacation when the 117 00:07:01,000 --> 00:07:04,000 Speaker 1: kids out of school, yes, exactly, and things like that. 118 00:07:04,160 --> 00:07:09,200 Speaker 1: So the further we drill down into this definition of 119 00:07:09,400 --> 00:07:12,200 Speaker 1: what a middle class is, uh, the more that we 120 00:07:12,280 --> 00:07:16,480 Speaker 1: find there is not necessarily one size fits all rule 121 00:07:16,840 --> 00:07:21,080 Speaker 1: because what means middle class depends on the country in 122 00:07:21,080 --> 00:07:24,119 Speaker 1: which you live, absolutely, and as we live in the US, 123 00:07:24,240 --> 00:07:29,800 Speaker 1: we're going to be focusing primarily on that. Um. So 124 00:07:29,800 --> 00:07:35,400 Speaker 1: so let's look at the money factor first of all. So, 125 00:07:35,480 --> 00:07:40,840 Speaker 1: the average income in the United States was fifty one 126 00:07:40,920 --> 00:07:45,080 Speaker 1: thousand and seventeen dollars in two thousand and twelve. So 127 00:07:45,160 --> 00:07:50,720 Speaker 1: that's just the the um then is that mean, I 128 00:07:50,760 --> 00:07:55,280 Speaker 1: guess must be the average the middle number. So counting 129 00:07:55,320 --> 00:07:59,040 Speaker 1: all the people who made negligible and counting all the 130 00:07:59,040 --> 00:08:02,760 Speaker 1: people who made a lot, we end up with a 131 00:08:02,760 --> 00:08:06,320 Speaker 1: alarmingly deceptive number because you can't take an average of 132 00:08:06,360 --> 00:08:10,640 Speaker 1: that many people and that many uh in that many environments, 133 00:08:10,640 --> 00:08:16,920 Speaker 1: in different socioeconomic circumstances and expect it to be very helpful. 134 00:08:19,040 --> 00:08:21,000 Speaker 1: And there are two things about that number. What's that? 135 00:08:21,240 --> 00:08:23,960 Speaker 1: First of all, it's pretty high, yeah, but it's not 136 00:08:24,000 --> 00:08:27,360 Speaker 1: the highest. It's not like cutter or something, right, but 137 00:08:27,440 --> 00:08:32,360 Speaker 1: it is globally pretty high. So let's look at another 138 00:08:32,400 --> 00:08:36,320 Speaker 1: place spend. Let's say the Democratic Republic of Congo. The 139 00:08:36,360 --> 00:08:42,880 Speaker 1: average income there is two hundred and thirty six dollars. Wow. 140 00:08:43,520 --> 00:08:45,720 Speaker 1: We should note, of course, as well, that that is 141 00:08:45,760 --> 00:08:49,280 Speaker 1: one of the poorest countries in the world by this metric. 142 00:08:49,640 --> 00:08:53,640 Speaker 1: But it's weird, right, because they also have a wealth 143 00:08:53,920 --> 00:08:58,160 Speaker 1: of resources and suffer from what is often called in 144 00:08:58,160 --> 00:09:05,120 Speaker 1: international politics the resource curse, the resource curse, which is no, 145 00:09:05,320 --> 00:09:08,680 Speaker 1: that's Okay, that is just another show. Uh, and we 146 00:09:08,720 --> 00:09:10,560 Speaker 1: will have to cover that again. I think we mentioned 147 00:09:10,600 --> 00:09:13,840 Speaker 1: that before. And another talk about international banking we mentioned 148 00:09:13,880 --> 00:09:17,040 Speaker 1: in um resource Extraction. You can check out some of 149 00:09:17,040 --> 00:09:20,200 Speaker 1: our We had an outdated video now, but it still 150 00:09:20,200 --> 00:09:25,560 Speaker 1: holds up pretty well called is China Colonizing Africa? Which 151 00:09:25,559 --> 00:09:28,760 Speaker 1: I would recommend to anybody who's interested in stories of 152 00:09:29,120 --> 00:09:34,880 Speaker 1: resource extraction or establishing slash fighting hedgemoney. And if you 153 00:09:34,920 --> 00:09:37,240 Speaker 1: don't want to look at our videos, then just look 154 00:09:37,280 --> 00:09:40,440 Speaker 1: up the current president of Bolivia so you know how 155 00:09:40,480 --> 00:09:43,480 Speaker 1: he's working with you guys. Uh. And remember that we 156 00:09:43,480 --> 00:09:46,720 Speaker 1: said Bolivia because that that'll be interesting later. So there's 157 00:09:46,760 --> 00:09:49,640 Speaker 1: a stand. If we were to take a standard definition 158 00:09:49,840 --> 00:09:53,520 Speaker 1: from like a financial website, we would say, uh, we 159 00:09:53,559 --> 00:09:56,160 Speaker 1: will find a couple of different numbers. One that's commonly 160 00:09:56,160 --> 00:09:58,560 Speaker 1: found is that twenty five thousand to a hundred thousand 161 00:09:58,600 --> 00:10:01,240 Speaker 1: dollars of income a year is most people would consider 162 00:10:01,520 --> 00:10:05,360 Speaker 1: a middle class income. Uh. This accounts for a wide 163 00:10:05,400 --> 00:10:08,640 Speaker 1: cost of living differential. So you know, it costs more 164 00:10:08,720 --> 00:10:10,720 Speaker 1: to live in New York City than it does in 165 00:10:11,320 --> 00:10:16,800 Speaker 1: um Fargo or Bared Forks, and so anyone who lives 166 00:10:16,800 --> 00:10:20,079 Speaker 1: in San Francisco or New York will tell you that 167 00:10:20,120 --> 00:10:24,200 Speaker 1: twenty five thousand dollars a year is dirt, poor, dirty, poor, 168 00:10:24,520 --> 00:10:28,719 Speaker 1: um nothing. And that's because, uh, in that city, you 169 00:10:28,800 --> 00:10:34,480 Speaker 1: can't you can't make a long con you can't grow old, 170 00:10:34,520 --> 00:10:38,480 Speaker 1: support of family and retire and have a place to 171 00:10:38,559 --> 00:10:42,280 Speaker 1: sleep at night, right, right, dollars a year, I mean 172 00:10:42,440 --> 00:10:44,880 Speaker 1: you couldn't. If we'd be you'd be really hard pressed 173 00:10:44,880 --> 00:10:47,040 Speaker 1: to find a place to live. Yeah. Now there are 174 00:10:47,040 --> 00:10:54,040 Speaker 1: subsidies for fure and for residents, right, but this and 175 00:10:54,080 --> 00:10:56,679 Speaker 1: you know, of course we're not in any way detigrating 176 00:10:56,840 --> 00:11:00,440 Speaker 1: anybody who makes twenty five dollars and lives in a 177 00:11:00,559 --> 00:11:05,800 Speaker 1: very expensive city. Absolutely not. It's just the reality of living, 178 00:11:06,200 --> 00:11:09,920 Speaker 1: you know, cost living in surviora it's very different. Like Atlanta, 179 00:11:10,040 --> 00:11:12,920 Speaker 1: where we are based, has one of the lowest costs 180 00:11:12,920 --> 00:11:16,520 Speaker 1: of living for a city its size, and that only 181 00:11:16,720 --> 00:11:21,360 Speaker 1: ever becomes apparent to me when I'm in another city. Yeah, 182 00:11:21,360 --> 00:11:24,360 Speaker 1: all right, So what we found is that this means 183 00:11:24,480 --> 00:11:30,000 Speaker 1: essentially there's no universally recognized definition of middle class, but 184 00:11:30,160 --> 00:11:34,400 Speaker 1: there is something different about the socio economic makeup of 185 00:11:34,440 --> 00:11:38,360 Speaker 1: Western countries. Over the last few decades. In many countries. 186 00:11:38,360 --> 00:11:43,560 Speaker 1: The Western middle class, however vaguely defined, isn't prospering at 187 00:11:43,640 --> 00:11:46,240 Speaker 1: least in the way that it once was back when 188 00:11:46,280 --> 00:11:52,400 Speaker 1: we had an economic boom with construction and industrialization in 189 00:11:52,440 --> 00:11:56,319 Speaker 1: the US, when we were making cars, let's say, a 190 00:11:56,400 --> 00:12:02,120 Speaker 1: lot of cars. Yeah, that's true. Is a sea change 191 00:12:02,200 --> 00:12:06,160 Speaker 1: that is troubling to people, And there's this. We can't 192 00:12:06,160 --> 00:12:09,560 Speaker 1: make any bones about it. This is not a conspiracy theory, 193 00:12:09,600 --> 00:12:12,920 Speaker 1: no matter how often it may be presented as one. Uh, 194 00:12:12,960 --> 00:12:17,400 Speaker 1: this is not a It is true and hard numbers 195 00:12:17,400 --> 00:12:20,400 Speaker 1: that inequality in the United States is rising in some 196 00:12:20,559 --> 00:12:24,160 Speaker 1: areas more than other areas. So what does this mean 197 00:12:25,800 --> 00:12:29,200 Speaker 1: for me? Would be most people's question, right exactly, from 198 00:12:29,280 --> 00:12:34,760 Speaker 1: the Koke Brothers to uh, somebody making one dollars and 199 00:12:34,920 --> 00:12:37,400 Speaker 1: living just outside of New York, the question would always 200 00:12:37,440 --> 00:12:40,000 Speaker 1: be what does this mean for me? Very different answers 201 00:12:40,520 --> 00:12:45,040 Speaker 1: and exactly so it First of all, it means a 202 00:12:45,040 --> 00:12:47,080 Speaker 1: lot of different things depending on where you are. Like 203 00:12:47,080 --> 00:12:49,880 Speaker 1: we said at the top, in developing an emerging markets, 204 00:12:50,000 --> 00:12:54,839 Speaker 1: we're actually seeing a rise or in emerging middle class. 205 00:12:54,840 --> 00:12:57,640 Speaker 1: So it's not so much that the global middle class 206 00:12:57,760 --> 00:13:00,760 Speaker 1: is dying as it is that the middle class. What 207 00:13:00,800 --> 00:13:03,480 Speaker 1: it means b middle class is moving. Yeah, isn't that 208 00:13:03,520 --> 00:13:07,960 Speaker 1: a weird idea. It's just that that type of emerging 209 00:13:08,000 --> 00:13:12,079 Speaker 1: wealth has just transferred, it's just took a trip across 210 00:13:12,080 --> 00:13:14,920 Speaker 1: the world other other different places. That sort of lifestyle 211 00:13:14,960 --> 00:13:19,000 Speaker 1: is becoming increasingly popular in countries where it wasn't once 212 00:13:19,080 --> 00:13:22,679 Speaker 1: upon a time exactly. So, then we also see that 213 00:13:23,040 --> 00:13:27,880 Speaker 1: rising inequality has dangerous effects on the existing UH middle 214 00:13:27,920 --> 00:13:31,840 Speaker 1: class of these of these different countries. In October of 215 00:13:31,840 --> 00:13:36,000 Speaker 1: two thousand fourteen, Interestingly enough, the United Kingdom's wealthiest ten 216 00:13:36,080 --> 00:13:39,960 Speaker 1: percent controlled fifty four point one percent of the country's 217 00:13:40,000 --> 00:13:43,400 Speaker 1: total wealth UM. If we if we look at the 218 00:13:43,440 --> 00:13:47,240 Speaker 1: math of that, you know, it can be the deceptive thing. 219 00:13:47,280 --> 00:13:50,040 Speaker 1: A lot of these statistics can sound scary, and some 220 00:13:50,200 --> 00:13:53,559 Speaker 1: of them were constructed not by us, but constructed or 221 00:13:53,600 --> 00:13:57,240 Speaker 1: framed to sound frightening. We know that inequality is on 222 00:13:57,280 --> 00:13:59,600 Speaker 1: the rise in the United Kingdom, it's on the rise 223 00:13:59,760 --> 00:14:04,840 Speaker 1: in UH the United States. Maybe not for the same reasons, 224 00:14:05,240 --> 00:14:08,520 Speaker 1: but there have been some pretty smart people making some 225 00:14:08,840 --> 00:14:12,080 Speaker 1: pretty good studies about this right. The authors of the 226 00:14:12,080 --> 00:14:16,360 Speaker 1: new study, Emmanuel Says and Gabriel Zookman, highlight that the 227 00:14:16,400 --> 00:14:20,000 Speaker 1: wealth inequality was high in the beginning of the twentieth century, 228 00:14:20,160 --> 00:14:24,240 Speaker 1: decreased steadily from nineteen twenty nine to nineteen seventy eight, 229 00:14:24,480 --> 00:14:28,560 Speaker 1: but was continuously increased ever since then. Moreover, the increase 230 00:14:28,600 --> 00:14:31,840 Speaker 1: in wealth inequality is almost completely due to the increase 231 00:14:31,920 --> 00:14:35,840 Speaker 1: in the top point one percent wealth share from seven 232 00:14:35,840 --> 00:14:39,600 Speaker 1: percent in nineteen seventy nine to twenty two percent in 233 00:14:39,640 --> 00:14:43,360 Speaker 1: two thousand twelve, nearly as high as in nineteen twenty nine. 234 00:14:43,800 --> 00:14:45,840 Speaker 1: The study also showed that the wealth share of the 235 00:14:45,880 --> 00:14:50,520 Speaker 1: bottom wealth edged up until the mid nineteen eighties and 236 00:14:50,560 --> 00:14:55,120 Speaker 1: has been declining steadily ever since. And today, Uh, huge 237 00:14:55,160 --> 00:14:59,560 Speaker 1: majority of Americans acknowledge the growing gap between the rich 238 00:14:59,560 --> 00:15:01,560 Speaker 1: and the poor, and a lot of people say, hey, 239 00:15:01,680 --> 00:15:04,520 Speaker 1: I think that is going to be a problem, if 240 00:15:04,520 --> 00:15:08,600 Speaker 1: it isn't already. But there's little, uh, there's little agreement 241 00:15:08,720 --> 00:15:14,440 Speaker 1: on the causes of this rising inequality or how to 242 00:15:15,520 --> 00:15:18,560 Speaker 1: address it, you know what I mean, sure, Ben, So 243 00:15:18,640 --> 00:15:21,800 Speaker 1: that question is hugely complex, and you'll hear people like 244 00:15:21,880 --> 00:15:25,480 Speaker 1: Russell Brand talking about it on talk shows, even wrote 245 00:15:25,520 --> 00:15:28,320 Speaker 1: a book about it recently, UM and lots of other 246 00:15:28,360 --> 00:15:31,840 Speaker 1: people just trying to figure out a way to help 247 00:15:31,960 --> 00:15:35,640 Speaker 1: stop this inequality from increasing. And then there are people 248 00:15:35,640 --> 00:15:38,200 Speaker 1: who say that it's part of the system, so it 249 00:15:38,240 --> 00:15:41,640 Speaker 1: should exist in some way in a capitalist society sort 250 00:15:41,640 --> 00:15:45,200 Speaker 1: of inherently demands inequality. And then on the far side 251 00:15:45,240 --> 00:15:47,320 Speaker 1: you have people on the far far other side, you 252 00:15:47,400 --> 00:15:52,040 Speaker 1: might have people who say, uh, something like iron Rand 253 00:15:52,360 --> 00:15:56,280 Speaker 1: was right with her opinion, and I do mean opinion 254 00:15:56,440 --> 00:15:58,920 Speaker 1: about objectivism. And then you have people on the other 255 00:15:59,000 --> 00:16:02,480 Speaker 1: end of the spectrum who say, you know, why do 256 00:16:02,560 --> 00:16:05,840 Speaker 1: we need to have any sort of system. Let's just 257 00:16:05,920 --> 00:16:08,880 Speaker 1: let people do what they want because people are inherently good. 258 00:16:09,080 --> 00:16:12,440 Speaker 1: What's the worst that could happen? Right, and then we'll 259 00:16:12,480 --> 00:16:18,640 Speaker 1: all be equal. Uh, However, we have some compelling physiological 260 00:16:18,680 --> 00:16:24,000 Speaker 1: evidence that human beings are not capable of considering the 261 00:16:24,040 --> 00:16:26,960 Speaker 1: rest of the human race as a peer, as a 262 00:16:26,960 --> 00:16:30,080 Speaker 1: as a group of people. We crap out around a 263 00:16:30,160 --> 00:16:37,000 Speaker 1: hundred and fifty. That's all our brain can count. Uh, friends, 264 00:16:38,720 --> 00:16:44,040 Speaker 1: stuff on that, yeah, Dunbar's number. Yeah. Um, And now 265 00:16:44,680 --> 00:16:46,840 Speaker 1: we can go ahead. We set the stage right, the 266 00:16:46,840 --> 00:16:50,800 Speaker 1: extinction of middle class, the definitions, uh, the exploration and 267 00:16:50,880 --> 00:16:55,680 Speaker 1: some of the assumptions, and now it's almost time for 268 00:16:55,760 --> 00:16:59,400 Speaker 1: the really crazy stuff. But first the word from our sponsor. 269 00:17:15,240 --> 00:17:19,119 Speaker 1: You know, usually we have our sponsor, Illumination Global Unlimited 270 00:17:19,160 --> 00:17:21,960 Speaker 1: coming in. Yeah, but they're not here this week. I'm 271 00:17:22,000 --> 00:17:24,800 Speaker 1: not sure. Maybe they'll come back sometime. Yeah. It all 272 00:17:24,800 --> 00:17:27,840 Speaker 1: depends really if the stars are in the right positions. 273 00:17:27,960 --> 00:17:30,440 Speaker 1: And sure there are a lot of factors that Illumination 274 00:17:30,440 --> 00:17:35,080 Speaker 1: Global Unlimited takes into account. Yeah. Um, and oh, by 275 00:17:35,119 --> 00:17:37,320 Speaker 1: the way, I guess we should say that for anybody 276 00:17:37,359 --> 00:17:41,080 Speaker 1: who hasn't checked out our episodes. Uh, be sure to um, 277 00:17:41,080 --> 00:17:43,320 Speaker 1: put like a sheet over your t vs or your 278 00:17:43,359 --> 00:17:46,320 Speaker 1: mirrors if you're listening to or using a lot of 279 00:17:46,320 --> 00:17:51,000 Speaker 1: Illumination Global products. But anyway, just little ps a there. Uh, 280 00:17:51,840 --> 00:17:55,159 Speaker 1: here's the crazy stuff. Here's where it gets crazy. I 281 00:17:55,200 --> 00:17:58,520 Speaker 1: love it. Is there an oligarchy that is developed in 282 00:17:58,560 --> 00:18:01,199 Speaker 1: the United States? That's the big question. We all know 283 00:18:01,240 --> 00:18:04,760 Speaker 1: what an oligarchy is. It's a small group of interest 284 00:18:04,880 --> 00:18:09,560 Speaker 1: or whatever running a larger group. Sure, so, do you 285 00:18:09,600 --> 00:18:14,919 Speaker 1: want my personal answer or my objective research answer. Uh, 286 00:18:15,000 --> 00:18:21,040 Speaker 1: let's see first the objective research and then your personal take. Well, 287 00:18:21,400 --> 00:18:24,680 Speaker 1: whether or not this has developed inside the United States 288 00:18:25,400 --> 00:18:27,919 Speaker 1: is a matter of debate. There are a lot of 289 00:18:27,960 --> 00:18:33,800 Speaker 1: different opinions, but there's something even more surprising about this subject. 290 00:18:33,800 --> 00:18:37,919 Speaker 1: When you look at the research across the world. The 291 00:18:37,960 --> 00:18:42,800 Speaker 1: globe as a whole, inequality has actually decreased, at least 292 00:18:42,800 --> 00:18:45,560 Speaker 1: for a time leading up to the recent economic disaster, 293 00:18:45,720 --> 00:18:48,080 Speaker 1: so to two thousand seven, and then some of the 294 00:18:48,080 --> 00:18:50,040 Speaker 1: other stuff that's been going on. So things were getting 295 00:18:50,080 --> 00:18:52,440 Speaker 1: better for a little while. But you have to be 296 00:18:52,600 --> 00:18:55,680 Speaker 1: really careful when you look at the stats. All Right, 297 00:18:55,760 --> 00:18:58,240 Speaker 1: we've got a great report via the Guardian the richest 298 00:18:58,320 --> 00:19:02,679 Speaker 1: one percent of the world's popular nation are getting wealthier, 299 00:19:02,840 --> 00:19:05,840 Speaker 1: if not healthier, which alas said, owning more than forty 300 00:19:05,960 --> 00:19:09,520 Speaker 1: eight percent of global wealth. This was according to the 301 00:19:09,560 --> 00:19:13,680 Speaker 1: Credit Suits Global Wealth Report, which you can find online. 302 00:19:14,160 --> 00:19:17,280 Speaker 1: And uh, here we go, though, when we say the 303 00:19:17,359 --> 00:19:21,000 Speaker 1: richest one percent of the entire world, that's such a 304 00:19:21,000 --> 00:19:24,800 Speaker 1: bigger number in both directions. So what what What are 305 00:19:24,800 --> 00:19:28,160 Speaker 1: the numbers meant? Well, a person only needs three thousand, 306 00:19:28,280 --> 00:19:32,160 Speaker 1: six hundred and fifty dollars including the value or equity 307 00:19:32,200 --> 00:19:35,479 Speaker 1: in your home to be among the wealthiest half of 308 00:19:35,520 --> 00:19:39,600 Speaker 1: the world citizens. Wow, okay, and then uh, to be 309 00:19:39,800 --> 00:19:43,040 Speaker 1: a member of the top ten percent of global wealthholders, 310 00:19:43,240 --> 00:19:47,280 Speaker 1: you need more than seventies seven thousand dollars and that 311 00:19:47,440 --> 00:19:51,480 Speaker 1: isn't a not like how much money you make every year, 312 00:19:51,640 --> 00:19:57,680 Speaker 1: that's how much worth or something. And then, uh, last, 313 00:19:57,720 --> 00:19:59,480 Speaker 1: but not least, can we get a drum roll? No, 314 00:20:01,200 --> 00:20:05,240 Speaker 1: you need seven hundred and nine thousand dollars to belong 315 00:20:05,280 --> 00:20:09,760 Speaker 1: in the top one. Now that's smaller. That's a smaller 316 00:20:09,760 --> 00:20:11,880 Speaker 1: amount than I thought. But I guess that's because it's 317 00:20:11,880 --> 00:20:15,960 Speaker 1: a much bigger one. Sure, so that is a lot 318 00:20:15,960 --> 00:20:20,760 Speaker 1: more money than this guy will ever see in his lifetime. Um, 319 00:20:20,760 --> 00:20:25,679 Speaker 1: but you know it's something to shoot for. Ben Uh. 320 00:20:25,720 --> 00:20:28,640 Speaker 1: The American dream as where we started in the beginning, 321 00:20:28,760 --> 00:20:33,520 Speaker 1: So let's go straight to some of the more conspiratorial stuff. 322 00:20:33,960 --> 00:20:36,159 Speaker 1: One thing that I thought was interesting that comes to 323 00:20:36,240 --> 00:20:42,120 Speaker 1: us from UH political spheres, right, is the idea that 324 00:20:42,440 --> 00:20:46,080 Speaker 1: concerns over inequality are some sort of noise or propaganda 325 00:20:46,600 --> 00:20:52,400 Speaker 1: made by socialist and communists seeking to overthrow capitalism. So 326 00:20:53,400 --> 00:20:56,479 Speaker 1: I guess the argument there would be that the nature 327 00:20:56,520 --> 00:21:00,040 Speaker 1: of inequality itself is being vilified and that it's not 328 00:21:00,240 --> 00:21:04,920 Speaker 1: bad for a few people to control as much wealth. Yeah, 329 00:21:05,080 --> 00:21:09,800 Speaker 1: in in the eyes of someone UH talking about this, 330 00:21:10,359 --> 00:21:13,840 Speaker 1: I would say they see it as more villainizing the rich, 331 00:21:14,800 --> 00:21:17,119 Speaker 1: and at least that in my head, that's what I see. 332 00:21:17,920 --> 00:21:21,840 Speaker 1: And I would, you know, I would argue that perhaps 333 00:21:22,200 --> 00:21:26,120 Speaker 1: those arguments come from the wealthy a lot of the times, right, 334 00:21:26,160 --> 00:21:29,440 Speaker 1: and that would that would make sense because opponents of 335 00:21:29,960 --> 00:21:33,000 Speaker 1: that argument would say that there is a group of 336 00:21:33,040 --> 00:21:37,960 Speaker 1: wealthy elites actively working to disempower the populations of various countries, 337 00:21:38,400 --> 00:21:41,480 Speaker 1: which is not I'm it's gonna I'm gonna be honest. 338 00:21:41,520 --> 00:21:45,199 Speaker 1: It's totally been proven that that's happened in the past. 339 00:21:45,560 --> 00:21:48,280 Speaker 1: We know that that has happened in the past, um, 340 00:21:48,840 --> 00:21:53,360 Speaker 1: during times of imperialism or colonialism. And no, I'm not 341 00:21:53,520 --> 00:21:58,400 Speaker 1: just talking about European expansions. I'm talking about the history 342 00:21:58,480 --> 00:22:02,280 Speaker 1: of tribute states, the history of vassals and peasants and 343 00:22:02,320 --> 00:22:08,119 Speaker 1: servants and lifelong slavery which still exists. I think Mauritania 344 00:22:09,040 --> 00:22:14,040 Speaker 1: still has quite a large slave population. Yeah. And also 345 00:22:14,119 --> 00:22:16,960 Speaker 1: if you look at the power of money in politics now, 346 00:22:17,080 --> 00:22:21,159 Speaker 1: especially in the US, um, you need a certain amount 347 00:22:21,160 --> 00:22:23,359 Speaker 1: of money to make any kind of waves in the 348 00:22:23,359 --> 00:22:29,000 Speaker 1: political sphere here, and you know, if you're increasing that 349 00:22:29,000 --> 00:22:32,280 Speaker 1: that wealth gap, then perhaps that's one of the goals. 350 00:22:32,600 --> 00:22:35,240 Speaker 1: I don't know, I'm just a guy man. Yeah, me too. 351 00:22:35,359 --> 00:22:38,639 Speaker 1: There's also there was all you remember. This might be 352 00:22:38,880 --> 00:22:41,399 Speaker 1: a little bit before some of our listeners time, uh, 353 00:22:41,640 --> 00:22:43,800 Speaker 1: but you remember growing up and hearing about the the 354 00:22:43,880 --> 00:22:50,320 Speaker 1: idea of trickle down economics, um, which I still probably 355 00:22:50,359 --> 00:22:53,160 Speaker 1: have a child's understanding of that, because I didn't really 356 00:22:53,200 --> 00:22:54,840 Speaker 1: get it when I was a kid, and I haven't 357 00:22:54,840 --> 00:22:56,639 Speaker 1: looked into it too much. But I just want to 358 00:22:57,080 --> 00:23:01,320 Speaker 1: present these counter arguments. Yeah, trickle down economics, so the 359 00:23:01,400 --> 00:23:04,840 Speaker 1: idea that when the the ultra wealthy have a lot 360 00:23:04,880 --> 00:23:07,600 Speaker 1: of money, they spend a lot of money, and then 361 00:23:07,640 --> 00:23:10,440 Speaker 1: it trickles down throughout the economy because they're spending money 362 00:23:10,480 --> 00:23:13,160 Speaker 1: here and there, and here and there is everybody else. 363 00:23:13,320 --> 00:23:16,960 Speaker 1: That's my understand. Inherently, I don't understand how that would work, 364 00:23:17,080 --> 00:23:21,560 Speaker 1: because that is the dispersion of wealth, not the accumulation 365 00:23:21,680 --> 00:23:24,960 Speaker 1: of wealth. And also because of Swiss bank accounts and 366 00:23:25,240 --> 00:23:30,120 Speaker 1: or Australian incorporation, wouldn't you be more likely to try 367 00:23:30,200 --> 00:23:32,920 Speaker 1: to save money? I don't know. I I don't know. 368 00:23:33,160 --> 00:23:35,840 Speaker 1: But there's another point here, and this is the one 369 00:23:35,880 --> 00:23:38,680 Speaker 1: that I think has the most sand that the relationships 370 00:23:38,680 --> 00:23:43,119 Speaker 1: between governments and businesses are empowering wealthy actors and by 371 00:23:43,160 --> 00:23:45,800 Speaker 1: that we mean companies as well as individuals at the 372 00:23:45,800 --> 00:23:49,359 Speaker 1: expense of the poor. Yeah, and again look at the 373 00:23:49,480 --> 00:23:54,400 Speaker 1: representation and governments where especially in places where money makes 374 00:23:54,480 --> 00:23:58,320 Speaker 1: the politician. Right. Yeah, So we we've talked about this, 375 00:23:58,400 --> 00:24:01,200 Speaker 1: you and I extensively when we've done any a series 376 00:24:01,200 --> 00:24:05,280 Speaker 1: on financial shenanigans. There's this, there's this argument. A lot 377 00:24:05,320 --> 00:24:09,280 Speaker 1: of people here in the States are very cynical about 378 00:24:09,280 --> 00:24:14,399 Speaker 1: the relationship between financial institutions and the regulatory bodies set 379 00:24:14,440 --> 00:24:19,440 Speaker 1: to watch those financial institutions. I can't air quote hard 380 00:24:19,560 --> 00:24:24,760 Speaker 1: enough uh on regulatory or watch. But but there and 381 00:24:24,840 --> 00:24:28,240 Speaker 1: you know, the idea, there is something that we lampooned 382 00:24:28,280 --> 00:24:33,359 Speaker 1: in an earlier podcast that these uh groups can't really 383 00:24:33,800 --> 00:24:37,639 Speaker 1: watch each other or have the kind of authoritative relationship 384 00:24:37,680 --> 00:24:39,560 Speaker 1: they need to have because they end up work the 385 00:24:39,640 --> 00:24:42,679 Speaker 1: individuals end up working for the same companies. But to 386 00:24:42,720 --> 00:24:47,240 Speaker 1: be fair, the counter argument is that this field is 387 00:24:47,320 --> 00:24:52,439 Speaker 1: so rarefied and complex that they're the only people qualified 388 00:24:52,440 --> 00:24:54,479 Speaker 1: to work in it. Sure, it makes my eyes, my 389 00:24:54,520 --> 00:24:56,880 Speaker 1: eyes rolled on if that I saw that, I saw 390 00:24:56,920 --> 00:24:59,800 Speaker 1: that they're rolling hard. They're still rolling uh So without 391 00:24:59,840 --> 00:25:03,040 Speaker 1: me personally commenting on it. I just want to present 392 00:25:03,480 --> 00:25:09,399 Speaker 1: that argument and counter argument. It's true, though, that governments 393 00:25:09,400 --> 00:25:11,560 Speaker 1: have in the eyes of the public, not just in 394 00:25:11,600 --> 00:25:14,879 Speaker 1: the United States but also in the United Kingdom. UH, 395 00:25:15,040 --> 00:25:20,320 Speaker 1: that governments have been seen as not stopping crimes by 396 00:25:20,359 --> 00:25:26,240 Speaker 1: large financial institutions, and typically that scene as further proof 397 00:25:26,280 --> 00:25:30,160 Speaker 1: that the middle class is somehow being squeezed out of 398 00:25:30,560 --> 00:25:35,480 Speaker 1: a judicial process, a legislative process, things like that. Um. 399 00:25:35,520 --> 00:25:37,520 Speaker 1: But another thing that you and I have run into 400 00:25:37,680 --> 00:25:42,920 Speaker 1: quite often is that the laws. It's it's very important 401 00:25:42,920 --> 00:25:45,720 Speaker 1: to figure out who gets to write laws, you know 402 00:25:45,760 --> 00:25:50,000 Speaker 1: what I mean. And the concerns that we have read 403 00:25:50,000 --> 00:25:54,679 Speaker 1: about with the idea of a disappearing middle class is that, first, 404 00:25:54,720 --> 00:25:57,840 Speaker 1: it's so very vaguely defined in the United States. If 405 00:25:57,840 --> 00:26:00,879 Speaker 1: you ask people to pull the majority party of people 406 00:26:00,880 --> 00:26:02,639 Speaker 1: in the United States would say that they are the 407 00:26:02,680 --> 00:26:08,560 Speaker 1: middle class. UM. And politicians have wildly differing ideas about this. 408 00:26:08,960 --> 00:26:12,760 Speaker 1: But are these people being shut out of legislation? That's 409 00:26:12,760 --> 00:26:15,720 Speaker 1: a question, right, It's a really good question, and I 410 00:26:15,760 --> 00:26:19,040 Speaker 1: think it should be addressed by people who know more 411 00:26:19,119 --> 00:26:23,359 Speaker 1: than us, right, which might be you listeners hopefully, So 412 00:26:24,119 --> 00:26:26,960 Speaker 1: we wanted to know if the if you think that 413 00:26:27,680 --> 00:26:30,800 Speaker 1: the middle class is disappearing, and let's keep in mind 414 00:26:30,840 --> 00:26:33,720 Speaker 1: also that over the great span of human existence, the 415 00:26:33,720 --> 00:26:38,240 Speaker 1: middle class is a very recent phenomena. Yeah, sure, absolutely. Um. 416 00:26:38,280 --> 00:26:44,160 Speaker 1: And also here's another question. Is it necessary that inequality 417 00:26:44,280 --> 00:26:49,040 Speaker 1: exists for let's save the entire system to run correctly. 418 00:26:49,359 --> 00:26:51,840 Speaker 1: That's yeah, that's a really good question. Is there a 419 00:26:51,920 --> 00:26:56,359 Speaker 1: conscious drive by someone or some group to accelerate inequality? 420 00:26:56,560 --> 00:26:59,160 Speaker 1: Then I was reading this thing right before we came 421 00:26:59,200 --> 00:27:02,879 Speaker 1: in here. Um, you can look this up. It was 422 00:27:03,000 --> 00:27:07,600 Speaker 1: about restaurants in the that aim for the middle class, 423 00:27:07,840 --> 00:27:11,200 Speaker 1: then the middle of the road, like and it mentioned 424 00:27:11,240 --> 00:27:19,359 Speaker 1: specifically places like Red Lobster. Um. Yeah, and just talking 425 00:27:19,359 --> 00:27:23,359 Speaker 1: about how those being in owning a restaurant in that 426 00:27:23,480 --> 00:27:28,080 Speaker 1: level right now is really dangerous because restaurants are starting 427 00:27:28,119 --> 00:27:31,760 Speaker 1: to shift. Um. At least the ones that are prospering 428 00:27:31,840 --> 00:27:35,879 Speaker 1: right now are either the really ritzy, high priced places 429 00:27:36,000 --> 00:27:39,359 Speaker 1: with locally sourced food that's just prepared by you know, 430 00:27:39,480 --> 00:27:42,119 Speaker 1: chef genius in the back, and then to the fast 431 00:27:42,119 --> 00:27:44,680 Speaker 1: food this is as cheap as it can possibly get, 432 00:27:45,480 --> 00:27:48,080 Speaker 1: and the people in the middle are finding that they're 433 00:27:48,119 --> 00:27:52,200 Speaker 1: just losing money week after week. So if middle class 434 00:27:53,040 --> 00:27:58,760 Speaker 1: families aren't disappearing, middle class restaurants are, well, people aren't 435 00:27:58,800 --> 00:28:02,400 Speaker 1: going out. The idea is that the people who find 436 00:28:02,440 --> 00:28:05,840 Speaker 1: themselves and identify in the middle class are trying to 437 00:28:05,920 --> 00:28:08,639 Speaker 1: save every bit of money that they possibly can because 438 00:28:08,720 --> 00:28:13,000 Speaker 1: they're feeling squeezed, you know, perhaps not getting that small 439 00:28:13,080 --> 00:28:16,320 Speaker 1: raise for costs of living every year, or not getting 440 00:28:16,840 --> 00:28:20,360 Speaker 1: just what all the different reasons, emergency, anything that could 441 00:28:20,400 --> 00:28:23,439 Speaker 1: pop up. So I think that's really interesting to me, 442 00:28:23,920 --> 00:28:27,680 Speaker 1: and it made me think about my past growing up 443 00:28:28,000 --> 00:28:30,280 Speaker 1: and we my family just says a little anecdote. I 444 00:28:30,320 --> 00:28:32,960 Speaker 1: want to see if anybody identifies with this. When it 445 00:28:33,000 --> 00:28:36,480 Speaker 1: was a special occasion, after I got to about ten, 446 00:28:36,800 --> 00:28:40,240 Speaker 1: red lobster was like my jam. So if it was 447 00:28:40,280 --> 00:28:42,920 Speaker 1: a special occasion, I was like, Mom, Dad, please can 448 00:28:42,960 --> 00:28:47,840 Speaker 1: we go get some of those garlic? Yeah? Um, that's 449 00:28:47,840 --> 00:28:49,440 Speaker 1: all I wanted. I don't care about the lobster. I 450 00:28:49,440 --> 00:28:51,640 Speaker 1: didn't care about any other stuff. I just wanted those biscuits. 451 00:28:52,600 --> 00:28:54,840 Speaker 1: But yeah, we could only afford to go there. Maybe 452 00:28:55,000 --> 00:28:59,040 Speaker 1: you know a couple of times a year, dude. But 453 00:28:59,120 --> 00:29:02,720 Speaker 1: it just makes me, Uh, I see what you're saying, 454 00:29:02,720 --> 00:29:06,680 Speaker 1: because it now in retrospect, you're thinking, Yeah, this is 455 00:29:06,720 --> 00:29:10,120 Speaker 1: not a place we would go every week exactly because 456 00:29:10,200 --> 00:29:14,560 Speaker 1: we couldn't afford to, at least at the time. Um, 457 00:29:14,640 --> 00:29:16,720 Speaker 1: but yeah, it makes me. It just makes me wonder 458 00:29:17,720 --> 00:29:21,600 Speaker 1: what effect that has on the wider scale, just if 459 00:29:21,600 --> 00:29:23,800 Speaker 1: you're just looking at restaurants, Like what what else is 460 00:29:24,240 --> 00:29:26,880 Speaker 1: starting to disappear? Sure, and that's a really good question, 461 00:29:26,960 --> 00:29:31,480 Speaker 1: like are there certain types of cars that people aren't buying? Um? 462 00:29:31,680 --> 00:29:37,360 Speaker 1: What about home home purchases? Right? Uh, vacations, all the 463 00:29:37,360 --> 00:29:40,640 Speaker 1: stuff we named in the beginning essentially, and you know 464 00:29:40,680 --> 00:29:44,040 Speaker 1: you can track that to the skyrocketing costs of some 465 00:29:44,160 --> 00:29:49,720 Speaker 1: of these things as well as wage stagnation. And everybody, 466 00:29:49,840 --> 00:29:53,240 Speaker 1: big hand to know for editing that thing. I was 467 00:29:53,280 --> 00:29:57,040 Speaker 1: trying to say that sentence like four times in a row. Yeah, 468 00:29:57,120 --> 00:29:59,280 Speaker 1: big up. Everything you like about this show is probably 469 00:29:59,360 --> 00:30:02,640 Speaker 1: nu all right, We've got to get out of here, everybody. 470 00:30:03,360 --> 00:30:05,440 Speaker 1: I'm so sorry, Matt. I have one piece of listener 471 00:30:05,480 --> 00:30:14,240 Speaker 1: mail for you. Fine punk g writes to us and says, 472 00:30:14,880 --> 00:30:17,600 Speaker 1: I really enjoy listening to your podcast. While listening to 473 00:30:17,640 --> 00:30:20,000 Speaker 1: the show today, I'm stuck on wanting to know if 474 00:30:20,040 --> 00:30:25,160 Speaker 1: Matt Frederick is Canadian. He sounds like he is. That's 475 00:30:25,160 --> 00:30:29,479 Speaker 1: all they said. Really, that's that's what he wants to know. Wow. Hey, 476 00:30:29,600 --> 00:30:33,920 Speaker 1: uh no, sir, I I am not Canadian. I was 477 00:30:34,080 --> 00:30:38,480 Speaker 1: born in Alpharetta, Georgia, and I have lived less than 478 00:30:38,520 --> 00:30:42,840 Speaker 1: fifty miles from there my whole life. So wow, as 479 00:30:42,880 --> 00:30:49,760 Speaker 1: far as we know. And on that note, ladies and gentlemen, 480 00:30:49,800 --> 00:30:51,720 Speaker 1: I apologize for interrupting you, Matt. I thought was a 481 00:30:51,720 --> 00:30:53,360 Speaker 1: great question, and when should get it out there in 482 00:30:53,360 --> 00:30:56,840 Speaker 1: case other people believe that you're Canadian. Not that there's 483 00:30:56,840 --> 00:31:01,040 Speaker 1: anything wrong, It's quite all right, ben, So everybody find 484 00:31:01,120 --> 00:31:03,760 Speaker 1: us on Facebook a and uh, go ahead and hit 485 00:31:03,840 --> 00:31:07,440 Speaker 1: us up on Twitter. We're at conspiracy stuff there also 486 00:31:07,480 --> 00:31:10,239 Speaker 1: on Facebook conspiracy stuff. Go to our website. Stuff they 487 00:31:10,240 --> 00:31:12,920 Speaker 1: don't want you to know. For everything we've ever done, 488 00:31:13,280 --> 00:31:16,000 Speaker 1: it all exists there and it's all wondrous. Uh. The 489 00:31:16,080 --> 00:31:18,000 Speaker 1: U r L maybe a little long, but hey, you 490 00:31:18,000 --> 00:31:20,480 Speaker 1: can you know, you can figure it out. And that's 491 00:31:20,520 --> 00:31:23,600 Speaker 1: the end of this classic episode. If you have any 492 00:31:23,680 --> 00:31:27,600 Speaker 1: thoughts or questions about this episode, you can get into 493 00:31:27,680 --> 00:31:30,240 Speaker 1: contact with us in a number of different ways. One 494 00:31:30,240 --> 00:31:31,800 Speaker 1: of the best is to give us a call. Our 495 00:31:31,880 --> 00:31:35,400 Speaker 1: number is one eight three three st d w y 496 00:31:35,520 --> 00:31:37,640 Speaker 1: t K. If you don't want to do that, you 497 00:31:37,680 --> 00:31:40,160 Speaker 1: can send us a good old fashioned email. We are 498 00:31:40,400 --> 00:31:44,800 Speaker 1: conspiracy at i heart radio dot com. Stuff they don't 499 00:31:44,800 --> 00:31:47,360 Speaker 1: want you to know is a production of I heart Radio. 500 00:31:47,680 --> 00:31:49,960 Speaker 1: For more podcasts from my heart Radio, visit the i 501 00:31:50,000 --> 00:31:52,920 Speaker 1: heart radio app, Apple Podcasts, or wherever you listen to 502 00:31:52,960 --> 00:31:53,760 Speaker 1: your favorite shows.