1 00:00:00,080 --> 00:00:01,599 Speaker 1: Hey, guys, Saga and Crystal here. 2 00:00:01,680 --> 00:00:05,200 Speaker 2: Independent media just played a truly massive role in this election, 3 00:00:05,360 --> 00:00:07,840 Speaker 2: and we are so excited about what that means for 4 00:00:07,880 --> 00:00:08,760 Speaker 2: the future of the show. 5 00:00:08,880 --> 00:00:10,719 Speaker 3: This is the only place where you can find honest 6 00:00:10,760 --> 00:00:13,280 Speaker 3: perspectives from the left and the right that simply does 7 00:00:13,320 --> 00:00:14,680 Speaker 3: not exist anywhere else. 8 00:00:14,720 --> 00:00:17,080 Speaker 2: So if that is something that's important to you, please 9 00:00:17,120 --> 00:00:19,599 Speaker 2: go to Breakingpoints dot com. Become a member today and 10 00:00:19,640 --> 00:00:22,800 Speaker 2: you'll get access to our full shows, unedited, ad free, 11 00:00:22,800 --> 00:00:25,600 Speaker 2: and all put together for you every morning in your inbox. 12 00:00:25,680 --> 00:00:27,560 Speaker 3: We need your help to build the future of independent 13 00:00:27,560 --> 00:00:29,880 Speaker 3: news media and we hope to see you at Breakingpoints 14 00:00:29,960 --> 00:00:33,440 Speaker 3: dot com. 15 00:00:33,680 --> 00:00:35,480 Speaker 1: How do people feel about Donald Trump? 16 00:00:35,520 --> 00:00:37,360 Speaker 3: Let's ahead and put this up there on the screen 17 00:00:37,960 --> 00:00:41,040 Speaker 3: from CBS News. This is the first major indications that 18 00:00:41,080 --> 00:00:44,800 Speaker 3: we have right now are feeling about the Trump administration 19 00:00:44,920 --> 00:00:48,040 Speaker 3: some twenty days in so far describing Donald Trump. The 20 00:00:48,080 --> 00:00:51,160 Speaker 3: top answers this is plus or minus two point five 21 00:00:51,240 --> 00:00:54,240 Speaker 3: percent in terms of the margin of error, tough sixty 22 00:00:54,320 --> 00:00:58,800 Speaker 3: nine percent, energetic, sixty three percent, focus, sixty percent, effective 23 00:00:58,920 --> 00:01:01,280 Speaker 3: fifty eight Let's go to the next one. Please Trump 24 00:01:01,360 --> 00:01:04,919 Speaker 3: and the campaign promises, is he doing seventy percent? Quote 25 00:01:04,959 --> 00:01:07,960 Speaker 3: what he promised in the campaign, thirty percent different from 26 00:01:08,200 --> 00:01:10,959 Speaker 3: what he promised. Now the coup de gras shall wait. 27 00:01:11,040 --> 00:01:14,120 Speaker 3: Let's go to the final one. Trump overhaul job rating 28 00:01:14,240 --> 00:01:17,880 Speaker 3: fifty three percent approved, forty seven percent disapproved. He's got 29 00:01:17,880 --> 00:01:21,560 Speaker 3: a positive approval rating, something literally unheard of whenever he 30 00:01:21,720 --> 00:01:25,440 Speaker 3: was the previous president of the United States. And if 31 00:01:25,480 --> 00:01:29,000 Speaker 3: you look at some of the individual option or individual 32 00:01:29,080 --> 00:01:32,200 Speaker 3: things that he has espoused and or is attempting to do, 33 00:01:32,520 --> 00:01:35,280 Speaker 3: you're going to see some similar support, although there's very 34 00:01:35,319 --> 00:01:37,360 Speaker 3: important divergence, which we will get to. 35 00:01:37,400 --> 00:01:38,440 Speaker 1: So let's go to the next one. 36 00:01:38,520 --> 00:01:41,959 Speaker 3: Trump administration's program to deport immigrantcy legally in the United States. 37 00:01:42,040 --> 00:01:45,360 Speaker 3: Some fifty nine percent approve, forty one percent disapproved. Can 38 00:01:45,400 --> 00:01:47,760 Speaker 3: we go to the next one please? And here we 39 00:01:47,840 --> 00:01:51,640 Speaker 3: have interesting numbers that Andrew Kasinski flagged from Yuga of 40 00:01:51,760 --> 00:01:56,040 Speaker 3: Trump is some plus ten percent approval with voters under thirty, 41 00:01:56,280 --> 00:02:00,560 Speaker 3: almost unheard of for Republicans. It definitely underscores the shift 42 00:02:00,640 --> 00:02:03,120 Speaker 3: the whole idea of you know, mail voters. You could 43 00:02:03,120 --> 00:02:05,320 Speaker 3: see do you see that number there with a mail 44 00:02:05,400 --> 00:02:08,320 Speaker 3: voters as astounding us trying to Now this is where 45 00:02:08,360 --> 00:02:10,000 Speaker 3: the diverges comes. Into and this is what I'm gonna 46 00:02:10,000 --> 00:02:12,080 Speaker 3: get to. Of all the things that Donald Trump, I 47 00:02:12,160 --> 00:02:14,200 Speaker 3: unfortunately was not able to be here on Thursday to 48 00:02:14,600 --> 00:02:17,680 Speaker 3: rage against this has said that has concerned me most, 49 00:02:17,760 --> 00:02:19,760 Speaker 3: and what I think would destroy both this country and 50 00:02:19,840 --> 00:02:23,280 Speaker 3: his presidency is this, US trying to take over Gaza 51 00:02:23,680 --> 00:02:28,000 Speaker 3: would be thirteen percent good idea, forty seven percent bad idea, 52 00:02:28,240 --> 00:02:31,160 Speaker 3: forty percent not sure depends to the forty. 53 00:02:30,919 --> 00:02:32,320 Speaker 4: Percent in side of the country on this one. 54 00:02:32,360 --> 00:02:35,520 Speaker 3: To the forty percent, I beg I plead get with 55 00:02:35,560 --> 00:02:38,640 Speaker 3: the program, get with the bad idea. There is not 56 00:02:38,680 --> 00:02:41,800 Speaker 3: a single thing that Donald Trump has done this presidency 57 00:02:41,840 --> 00:02:46,640 Speaker 3: that has not shocked, appalled, outraged, like incited me to 58 00:02:47,280 --> 00:02:51,079 Speaker 3: like rage and potential violence if this were to happen. 59 00:02:51,400 --> 00:02:54,079 Speaker 1: Then his insane. 60 00:02:54,080 --> 00:02:58,760 Speaker 3: Proposal to take over Gaza, which he seems completely committed to, 61 00:02:59,120 --> 00:03:01,280 Speaker 3: let's go ahead and take to listen to that which 62 00:03:01,320 --> 00:03:03,519 Speaker 3: he said yesterday on his way to the Super Bowl. 63 00:03:04,560 --> 00:03:08,919 Speaker 5: Committed to buying and owning goes as far as US 64 00:03:08,960 --> 00:03:11,840 Speaker 5: rebuilding it. We may give it to other states in 65 00:03:11,880 --> 00:03:15,320 Speaker 5: the Middle East to build sections of it. Other people 66 00:03:15,440 --> 00:03:19,720 Speaker 5: may do it through our auspices, but we're committed to 67 00:03:19,760 --> 00:03:23,280 Speaker 5: owning it, taking it and making sure that Hamas says 68 00:03:23,320 --> 00:03:26,080 Speaker 5: it moved back, there's nothing to move back into the 69 00:03:26,160 --> 00:03:28,640 Speaker 5: places a demolition site. 70 00:03:29,560 --> 00:03:30,040 Speaker 1: It'll be. 71 00:03:31,840 --> 00:03:35,760 Speaker 5: The remainder will be demolished. Everything's demolished. I mean, you 72 00:03:35,760 --> 00:03:37,160 Speaker 5: can't live in those buildings right now. 73 00:03:37,200 --> 00:03:38,200 Speaker 1: They're very unsad. 74 00:03:38,680 --> 00:03:42,680 Speaker 3: So we went from Trump the peacemaker ceasefire too, we're not. 75 00:03:43,520 --> 00:03:44,680 Speaker 1: It's so crazy. 76 00:03:44,960 --> 00:03:46,760 Speaker 3: I thought that the worst thing that would happen is like, 77 00:03:46,760 --> 00:03:48,840 Speaker 3: all right, Israel can hand it over. I did not 78 00:03:49,120 --> 00:03:51,920 Speaker 3: for one million year's thing. Oh, we're actually going to 79 00:03:51,960 --> 00:03:54,200 Speaker 3: be the ones who administer it. Now Trump says, we're 80 00:03:54,200 --> 00:03:56,560 Speaker 3: not going to have a single troop on the ground. Okay, 81 00:03:56,840 --> 00:03:59,240 Speaker 3: good luck trying to find that piece of property without 82 00:03:59,680 --> 00:04:03,920 Speaker 3: it mating. Something potentially like even worse and more outrageous 83 00:04:04,000 --> 00:04:07,880 Speaker 3: is removing all the United States actually expelling all of 84 00:04:07,920 --> 00:04:10,520 Speaker 3: these people instead of the Israelis. I mean, it's one thing, 85 00:04:10,600 --> 00:04:12,640 Speaker 3: you know, these two people where they're going to ethnically 86 00:04:12,640 --> 00:04:13,120 Speaker 3: cleanse them. 87 00:04:13,160 --> 00:04:15,040 Speaker 1: It's like, all right, well that's on them. But this 88 00:04:15,160 --> 00:04:18,360 Speaker 1: is like us not only complicit and shipping arms to. 89 00:04:18,400 --> 00:04:22,760 Speaker 3: Facilitate it, but like actively participating. There's that I saw 90 00:04:22,800 --> 00:04:25,800 Speaker 3: a tweet going around immediately after Trump has said that, 91 00:04:25,839 --> 00:04:28,360 Speaker 3: and this is not an endorsement, but it's like that 92 00:04:28,520 --> 00:04:31,599 Speaker 3: is going to incite more terrorism against the United States, 93 00:04:31,600 --> 00:04:34,480 Speaker 3: And like any potential thing an American president has done 94 00:04:34,720 --> 00:04:37,880 Speaker 3: since the invasion of Iraq, I'm like, Okay, I'm not 95 00:04:37,920 --> 00:04:38,520 Speaker 3: getting into a. 96 00:04:38,560 --> 00:04:41,080 Speaker 1: Damn skyscraper anytime soon after. 97 00:04:41,200 --> 00:04:45,960 Speaker 3: I am beside myself over this, And I'm beside myself 98 00:04:46,000 --> 00:04:47,520 Speaker 3: over it because he's totally serious. 99 00:04:47,560 --> 00:04:51,320 Speaker 1: And this is where the Trump administrated. 100 00:04:51,360 --> 00:04:53,240 Speaker 3: There is not a single thing that you could do 101 00:04:53,400 --> 00:04:57,039 Speaker 3: that would not sink your presidency faster than the political 102 00:04:57,080 --> 00:05:01,520 Speaker 3: administration of Gaza. Then United States sold service members putting 103 00:05:01,520 --> 00:05:04,320 Speaker 3: their lives at risk worse getting killed in the because 104 00:05:04,400 --> 00:05:08,760 Speaker 3: of the Israeli military's Operation Base. I mean, there is nothing, 105 00:05:09,279 --> 00:05:12,800 Speaker 3: there's not a single thing a solution to this crisis 106 00:05:12,880 --> 00:05:15,400 Speaker 3: or whatever that could be worse than what is being 107 00:05:15,480 --> 00:05:19,400 Speaker 3: proposed here turning the Arab world against US, I mean, 108 00:05:19,600 --> 00:05:23,760 Speaker 3: you know, inciting terrorism, but at its absolute worst is 109 00:05:24,560 --> 00:05:29,080 Speaker 3: for some reason Israel gets to destroy Gaza and then 110 00:05:29,200 --> 00:05:31,599 Speaker 3: we are the ones who have to pay for it, 111 00:05:31,960 --> 00:05:35,479 Speaker 3: facilitate the ethnical that they want to get rid of 112 00:05:35,560 --> 00:05:38,640 Speaker 3: all of these I never in my wildest. 113 00:05:38,160 --> 00:05:40,640 Speaker 1: Dreams did I think that we would be where we 114 00:05:40,680 --> 00:05:42,479 Speaker 1: are to. I am just thank god. 115 00:05:42,839 --> 00:05:45,960 Speaker 3: You know, hopefully the American people can speak out against it. 116 00:05:45,960 --> 00:05:48,280 Speaker 3: I'll tell you this if they if a single American 117 00:05:48,320 --> 00:05:50,159 Speaker 3: soldiers foot in Gaza, I'm going to be out there 118 00:05:50,320 --> 00:05:52,279 Speaker 3: like some Vietnam War hippie in the street. Like I'm 119 00:05:52,320 --> 00:05:54,960 Speaker 3: not kidding. That is a complete red line. I think 120 00:05:54,960 --> 00:05:56,960 Speaker 3: it should be for everybody. What did we not learn 121 00:05:57,000 --> 00:05:59,640 Speaker 3: our lesson? And you know, with Trump, this is where 122 00:05:59,800 --> 00:06:02,359 Speaker 3: his arrogance. One of the things I predicted here on 123 00:06:02,400 --> 00:06:04,320 Speaker 3: the show is like every president who wins a popular 124 00:06:04,360 --> 00:06:06,400 Speaker 3: but especially in their second term, they always overreach in 125 00:06:06,440 --> 00:06:08,479 Speaker 3: some way and it ends up back from I would 126 00:06:08,480 --> 00:06:11,080 Speaker 3: never predict it that it would be this, but this 127 00:06:11,160 --> 00:06:13,839 Speaker 3: is the if you want a ticket to not only 128 00:06:14,040 --> 00:06:17,880 Speaker 3: losing for a generation, destroying your legacy those now this 129 00:06:17,920 --> 00:06:20,960 Speaker 3: would be a footnote to a disastrous Middle war in 130 00:06:21,000 --> 00:06:21,560 Speaker 3: the Middle East. 131 00:06:21,600 --> 00:06:23,560 Speaker 1: So I just I have nothing else to say about it. 132 00:06:23,560 --> 00:06:26,719 Speaker 1: It's insane. I could go on for it makes me 133 00:06:26,880 --> 00:06:28,200 Speaker 1: want to lose my mind. 134 00:06:28,760 --> 00:06:31,800 Speaker 3: Where is the anti war coalition? I'm seeing people who 135 00:06:31,839 --> 00:06:35,200 Speaker 3: I've known for twenty years, who have spoken against neo 136 00:06:35,320 --> 00:06:38,920 Speaker 3: cons and saying, oh, we can you know, happily administer God? 137 00:06:39,680 --> 00:06:42,360 Speaker 1: Am I losing my mind? I mean what happened. 138 00:06:42,640 --> 00:06:44,880 Speaker 3: I knew that the right and many others were craven 139 00:06:45,320 --> 00:06:47,920 Speaker 3: whenever it came to Afghanistan, and they never really believed 140 00:06:48,040 --> 00:06:48,600 Speaker 3: what they said. 141 00:06:48,600 --> 00:06:51,440 Speaker 1: I didn't really believe that it was this bad that we. 142 00:06:51,279 --> 00:06:53,880 Speaker 3: Were actually going to be on board, you know, imperialism 143 00:06:53,920 --> 00:06:55,520 Speaker 3: through bullying like Greenland, I'm like. 144 00:06:55,480 --> 00:06:57,680 Speaker 1: Fine with but this, this is too much. 145 00:06:57,880 --> 00:06:59,880 Speaker 3: It was like this is this is one of those 146 00:07:00,080 --> 00:07:03,440 Speaker 3: where I mean, we've learned no lessons. It seems Trump 147 00:07:03,480 --> 00:07:06,159 Speaker 3: is totally serious, Like it's one of those where something 148 00:07:06,200 --> 00:07:08,039 Speaker 3: I have learned here with the second term. I'm like, no, no, 149 00:07:08,360 --> 00:07:09,680 Speaker 3: let's take him totally seriously. 150 00:07:09,760 --> 00:07:11,680 Speaker 2: I appreciate you saying that, because that's a lot of 151 00:07:11,680 --> 00:07:14,920 Speaker 2: the Copeice is like, oh, well, it's just a negotiating 152 00:07:14,960 --> 00:07:16,720 Speaker 2: position and he's not serious. 153 00:07:16,760 --> 00:07:18,440 Speaker 4: I'm like, no, I don't know why you. 154 00:07:18,840 --> 00:07:20,360 Speaker 2: First of all, if he says and he said it 155 00:07:20,360 --> 00:07:23,720 Speaker 2: now repeatedly, right, you should take it seriously. And number 156 00:07:23,760 --> 00:07:26,120 Speaker 2: two is to your point, like if we've learned anything 157 00:07:26,160 --> 00:07:31,280 Speaker 2: in this second administration, it's like, no, even the wildest things, 158 00:07:31,360 --> 00:07:33,440 Speaker 2: even things that he frankly never talked about at the 159 00:07:33,480 --> 00:07:39,640 Speaker 2: Gambagne trail are completely on the table. So yeah, not 160 00:07:40,080 --> 00:07:42,640 Speaker 2: a very popular move there, but one that he's in. 161 00:07:42,760 --> 00:07:45,320 Speaker 2: And you know this, it seems like it comes from Kushner, 162 00:07:45,640 --> 00:07:48,920 Speaker 2: who floated originally like waterfront property blah blah blah. And 163 00:07:48,960 --> 00:07:53,640 Speaker 2: this is Trump's like deranged real estate brain where he 164 00:07:53,760 --> 00:07:57,200 Speaker 2: just sees like dollar signs and you know, certainly doesn't 165 00:07:57,240 --> 00:07:59,920 Speaker 2: care about the people there or what it would entail. 166 00:08:00,120 --> 00:08:03,080 Speaker 2: But it's it's I mean, it's disgusting, it's a moral 167 00:08:03,200 --> 00:08:07,120 Speaker 2: it's a catastrophe. It's just it is even worse than 168 00:08:07,120 --> 00:08:08,080 Speaker 2: what I could have imagined. 169 00:08:08,120 --> 00:08:09,800 Speaker 1: I never could have cooked something up like Trump. 170 00:08:09,560 --> 00:08:11,280 Speaker 2: Would have done, like and I think I had a 171 00:08:11,280 --> 00:08:15,800 Speaker 2: pretty dire expectation of what his policy Vizavi Israel would be. 172 00:08:16,000 --> 00:08:16,920 Speaker 4: This is actually worse. 173 00:08:17,000 --> 00:08:21,200 Speaker 3: Yeah, I mean, and look, even though it's even granting 174 00:08:21,320 --> 00:08:23,560 Speaker 3: Israel aid and all that, I mean, it wouldn't be 175 00:08:23,640 --> 00:08:26,600 Speaker 3: super popular, but people wouldn't particularly care that much. It's 176 00:08:26,640 --> 00:08:29,040 Speaker 3: not going to be a deciding factor in the election 177 00:08:29,320 --> 00:08:31,840 Speaker 3: or in the future, and it would it would definitely 178 00:08:31,920 --> 00:08:33,840 Speaker 3: be something that people pay attention to foreign pop But 179 00:08:33,880 --> 00:08:35,880 Speaker 3: this is one of those. Again, nothing will sink you 180 00:08:35,960 --> 00:08:39,560 Speaker 3: like an unpopular foreign war. And the craziest thing is 181 00:08:39,920 --> 00:08:44,480 Speaker 3: even the most hardened neo conservatives who in Washington, not 182 00:08:44,559 --> 00:08:48,880 Speaker 3: even they could have cooked up US administration and takeover 183 00:08:49,080 --> 00:08:52,719 Speaker 3: of Gaza, Not even they could have imagined such an 184 00:08:52,720 --> 00:08:55,959 Speaker 3: audacious scheme. And I mean, did you I'm sure you guys, 185 00:08:56,040 --> 00:08:59,320 Speaker 3: Ryan covered it. Did you see Beebe's face whenever Trump's 186 00:08:59,360 --> 00:09:02,080 Speaker 3: the even he appears to be taken up, He's like, wait, 187 00:09:02,120 --> 00:09:02,599 Speaker 3: what is like? 188 00:09:02,640 --> 00:09:04,240 Speaker 1: Wait? I thought it was ours. I didn't think it 189 00:09:04,280 --> 00:09:04,640 Speaker 1: was gonna be. 190 00:09:05,720 --> 00:09:08,520 Speaker 2: Bbe looked totally happy to make well, look I totally 191 00:09:08,600 --> 00:09:08,960 Speaker 2: had why. 192 00:09:08,960 --> 00:09:10,760 Speaker 3: I think he's happy because now not only the two 193 00:09:10,800 --> 00:09:13,319 Speaker 3: state solution lip service is literally just it's dead because 194 00:09:13,360 --> 00:09:15,480 Speaker 3: now it doesn't even matter, right, it's often it's a 195 00:09:15,600 --> 00:09:18,240 Speaker 3: different universe of what now we're talking about. 196 00:09:18,440 --> 00:09:21,200 Speaker 1: Oh, if America doesn't own it, then Israel will own it. 197 00:09:21,240 --> 00:09:24,840 Speaker 3: But the idea of some Palestinian authority like this is fake, 198 00:09:24,880 --> 00:09:27,320 Speaker 3: It's gone. H The question now is like all of 199 00:09:27,360 --> 00:09:31,199 Speaker 3: this open uh you know, uh talk of hitting Egypt 200 00:09:31,240 --> 00:09:33,719 Speaker 3: and Jordan and all of these people with tariffs, and 201 00:09:34,040 --> 00:09:37,040 Speaker 3: this is one of those where Look, this is serious shit, 202 00:09:37,240 --> 00:09:40,400 Speaker 3: Like they were talking about two something million people Jordan. 203 00:09:40,480 --> 00:09:43,440 Speaker 2: According to Trump, it's one point seven or one point eight, 204 00:09:43,480 --> 00:09:46,160 Speaker 2: which is also an omission that they've probably killed more 205 00:09:46,200 --> 00:09:47,559 Speaker 2: like half a million Palestinians. 206 00:09:47,559 --> 00:09:49,440 Speaker 3: I did not even think about it. Yeah, that's crazy. Okay, 207 00:09:49,480 --> 00:09:52,199 Speaker 3: So one point fine, one point seven million. That would 208 00:09:52,200 --> 00:09:56,280 Speaker 3: fundamentally change the ethnic makeup of Jordan and of Egypt. 209 00:09:56,320 --> 00:09:57,440 Speaker 1: Why would they tolerate that? 210 00:09:57,480 --> 00:10:00,000 Speaker 3: What of the Egyptians and the Jordanians told us from 211 00:10:00,280 --> 00:10:03,079 Speaker 3: day one? Three point one billion in aid to Egypt 212 00:10:03,160 --> 00:10:05,360 Speaker 3: every year is not going to buy you their political 213 00:10:05,400 --> 00:10:08,520 Speaker 3: subservience on this question on something that maybe Suez or whatever, 214 00:10:08,520 --> 00:10:10,959 Speaker 3: it's a little bit different, but we're not talking about 215 00:10:11,000 --> 00:10:13,640 Speaker 3: Canada trade war, Mexico trade war. This is a like 216 00:10:13,760 --> 00:10:17,720 Speaker 3: political legitimacy question of the Jordanian and the Egyptian regimes 217 00:10:18,000 --> 00:10:21,160 Speaker 3: that are in power. They can never accept this status quo. 218 00:10:21,200 --> 00:10:23,280 Speaker 3: Same with the Saudi's the UAE. I mean this is 219 00:10:23,400 --> 00:10:27,079 Speaker 3: this is the perfect recipe for a complete alignment against 220 00:10:27,280 --> 00:10:30,640 Speaker 3: the United States and the region for inciting terrorism. But 221 00:10:30,760 --> 00:10:32,760 Speaker 3: I mean again, worse if we were just to think 222 00:10:32,800 --> 00:10:36,480 Speaker 3: of it from our perspective Why should an American soldier 223 00:10:36,600 --> 00:10:39,559 Speaker 3: die for the political administration of Gaza. 224 00:10:39,640 --> 00:10:42,040 Speaker 1: Why should we first also pay for it. 225 00:10:41,960 --> 00:10:44,800 Speaker 3: So we facilitate the destruction, and so we pay for 226 00:10:44,840 --> 00:10:47,600 Speaker 3: the destruction, and then we pay for the rebuilding. That's 227 00:10:47,640 --> 00:10:51,520 Speaker 3: like some disaster capitalism meme that's out there. You can't 228 00:10:51,559 --> 00:10:53,559 Speaker 3: even make, you know, that's like out of a book 229 00:10:53,800 --> 00:10:59,040 Speaker 3: of Nom Chomsky's fantasy novel to create this entire situation. 230 00:10:59,120 --> 00:11:01,720 Speaker 3: I've gotta say, I'm very pointed to and Steve Whitcoff, 231 00:11:01,760 --> 00:11:05,200 Speaker 3: who I genuinely had confidence in bringing about the ceasefire 232 00:11:05,520 --> 00:11:07,600 Speaker 3: and all of that, but now even he appears to 233 00:11:07,640 --> 00:11:09,400 Speaker 3: be you know, back saw. 234 00:11:09,520 --> 00:11:12,360 Speaker 4: His trip to Gaza to justify this talk. 235 00:11:12,480 --> 00:11:14,000 Speaker 2: And this, by the way, there are things that we've 236 00:11:14,040 --> 00:11:16,720 Speaker 2: been predicting, honestly from the beginning, not that the US 237 00:11:16,760 --> 00:11:19,080 Speaker 2: would own Gaza, but that they would destroy it so 238 00:11:19,200 --> 00:11:21,560 Speaker 2: much that then they say, gosh, no one could live there. 239 00:11:21,600 --> 00:11:25,199 Speaker 2: It's a humanitarian thing to do well, whose poor people. 240 00:11:24,920 --> 00:11:25,480 Speaker 4: Out of there? 241 00:11:25,640 --> 00:11:28,320 Speaker 2: Right, And that's what Whitcoff used his trip to Gaza 242 00:11:28,400 --> 00:11:31,760 Speaker 2: to do, to say, it's so destroyed, there's no people 243 00:11:31,840 --> 00:11:33,680 Speaker 2: are going to the north and they're coming back because 244 00:11:33,720 --> 00:11:36,120 Speaker 2: there's nothing there, et cetera, et cetera. And I mean 245 00:11:36,160 --> 00:11:38,840 Speaker 2: it's true, we did, you know, we did help the 246 00:11:38,920 --> 00:11:40,600 Speaker 2: Israelis thoroughly. 247 00:11:40,240 --> 00:11:41,280 Speaker 4: Destroy and demolish it. 248 00:11:41,760 --> 00:11:45,200 Speaker 2: And I think the end goal always in the Israeli's mind, 249 00:11:45,360 --> 00:11:47,360 Speaker 2: was so that they could have this moment of saying 250 00:11:47,360 --> 00:11:49,719 Speaker 2: and gosh, that's you know, we just we got to 251 00:11:49,760 --> 00:11:52,120 Speaker 2: deal with moving these people out of this territory. 252 00:11:52,120 --> 00:11:52,600 Speaker 4: It's a shame. 253 00:11:52,760 --> 00:11:56,080 Speaker 2: You'll remember the Biden administration floated something not us taking 254 00:11:56,080 --> 00:11:58,600 Speaker 2: it over, but also floated, hey, why don't we set 255 00:11:58,640 --> 00:11:59,240 Speaker 2: up some tensity. 256 00:11:59,320 --> 00:12:01,600 Speaker 1: I was going to say, they in a more neolib 257 00:12:01,679 --> 00:12:02,480 Speaker 1: way where they're. 258 00:12:02,400 --> 00:12:06,559 Speaker 3: Like, well, us and the European Union will coalition coalition 259 00:12:06,679 --> 00:12:08,040 Speaker 3: of people will pay. 260 00:12:07,920 --> 00:12:10,160 Speaker 1: For the admittment. It's like, well, okay, the net effect 261 00:12:10,440 --> 00:12:10,880 Speaker 1: is the same. 262 00:12:10,920 --> 00:12:12,839 Speaker 3: And I mean, I guess that's one of those where 263 00:12:13,640 --> 00:12:18,040 Speaker 3: this was probably an end result in some administrative form. 264 00:12:18,120 --> 00:12:20,120 Speaker 1: But to just say we're going to buy it and 265 00:12:20,160 --> 00:12:20,480 Speaker 1: own it. 266 00:12:20,520 --> 00:12:23,640 Speaker 3: I mean, the MAGA high IQ cope on this one 267 00:12:23,760 --> 00:12:26,760 Speaker 3: is like, oh, he's negotiating, but I'm like, but negotiating 268 00:12:26,760 --> 00:12:27,800 Speaker 3: to what what right? 269 00:12:27,880 --> 00:12:29,800 Speaker 1: I mean, no matter what, this is going to be 270 00:12:29,880 --> 00:12:30,840 Speaker 1: bad for us. 271 00:12:31,000 --> 00:12:34,480 Speaker 2: Right, We don't need to negotiate because like we own 272 00:12:34,520 --> 00:12:38,880 Speaker 2: these people, like the Israelis, you know. So anyway, there's that. 273 00:12:39,720 --> 00:12:42,360 Speaker 2: In addition, listen, I do want to just to go 274 00:12:42,440 --> 00:12:45,280 Speaker 2: back quickly to the overall approval rating. I do think 275 00:12:45,320 --> 00:12:49,000 Speaker 2: there's something to Elon Musk is a bit of a 276 00:12:49,000 --> 00:12:51,439 Speaker 2: heat shield for Trump right now. 277 00:12:51,520 --> 00:12:53,280 Speaker 1: Oh, it's an interesting theory, is. 278 00:12:53,360 --> 00:12:56,559 Speaker 2: And this is part of why I have always thought 279 00:12:56,679 --> 00:12:59,240 Speaker 2: that it is unlikely that there's going to be a 280 00:12:59,280 --> 00:13:01,959 Speaker 2: severing in the near term of this relationship because they 281 00:13:01,960 --> 00:13:04,520 Speaker 2: both get a lot. I mean, Elon gets everything that 282 00:13:04,600 --> 00:13:07,880 Speaker 2: he wants and Trump, you know, Elon's taken a lot 283 00:13:07,920 --> 00:13:10,680 Speaker 2: of the heat. Trump can kind of go. He's golfed 284 00:13:10,679 --> 00:13:13,640 Speaker 2: like a million times already since he's been golfed with Tiger. 285 00:13:13,679 --> 00:13:15,240 Speaker 2: The other day, I think that was just yesterday. I 286 00:13:15,240 --> 00:13:17,920 Speaker 2: was golfing with Tiger and Charlie Woods talking about the 287 00:13:17,960 --> 00:13:19,720 Speaker 2: Live PGA merger deal. 288 00:13:19,800 --> 00:13:20,640 Speaker 4: Blah blah blah. 289 00:13:20,679 --> 00:13:21,560 Speaker 1: Who's Charlie Woods? 290 00:13:21,600 --> 00:13:23,080 Speaker 4: Is you that's Tiger's son? 291 00:13:23,200 --> 00:13:23,320 Speaker 6: Oh? 292 00:13:23,320 --> 00:13:24,520 Speaker 1: Okay, yeah? Is he good? 293 00:13:24,840 --> 00:13:25,480 Speaker 4: He is very good? 294 00:13:25,559 --> 00:13:26,760 Speaker 1: Okay, yeah, very good. 295 00:13:27,440 --> 00:13:30,679 Speaker 2: In any case, Trump gets to do whatever he wants, 296 00:13:30,880 --> 00:13:33,600 Speaker 2: and Elon's taken a lot of the heat, and you know, 297 00:13:33,640 --> 00:13:35,360 Speaker 2: so I think there's something to that. It's also worth 298 00:13:35,360 --> 00:13:37,320 Speaker 2: pointing out that Biden at this time in his presidency 299 00:13:37,400 --> 00:13:40,480 Speaker 2: had a plus fourteen approval rating, So presidential honeymoons are 300 00:13:40,600 --> 00:13:41,400 Speaker 2: also a real thing. 301 00:13:41,520 --> 00:13:44,720 Speaker 3: Absolutely, you're I mean, look, it's early, it's only twenty days. 302 00:13:44,920 --> 00:13:46,880 Speaker 3: Trump is much more of a polarizing figure and was 303 00:13:46,920 --> 00:13:47,880 Speaker 3: elected in different shays. 304 00:13:47,960 --> 00:13:48,520 Speaker 1: Yeah, for sure. 305 00:13:48,600 --> 00:13:50,480 Speaker 3: So I mean I think, you know, you have to 306 00:13:50,480 --> 00:13:53,600 Speaker 3: compare people to their contacts. So within the Trumpian contact, 307 00:13:53,679 --> 00:13:55,880 Speaker 3: who was literally president, to have a positive approval rating 308 00:13:55,960 --> 00:14:00,320 Speaker 3: is nuts. I see danger for him in the Elon way. 309 00:14:00,400 --> 00:14:02,360 Speaker 3: I see danger for him With Goz. I think Goazza 310 00:14:02,360 --> 00:14:05,400 Speaker 3: would mostly immediately sink him. Look at Afghanistan. You know, 311 00:14:06,600 --> 00:14:10,600 Speaker 3: history doesn't repeat, but it rhymes. A disastrous foreign conflagration 312 00:14:10,720 --> 00:14:12,120 Speaker 3: can sink you like no other one. 313 00:14:12,160 --> 00:14:13,880 Speaker 2: Well, I mean, I also look at a rock with 314 00:14:13,920 --> 00:14:16,240 Speaker 2: George W. Bush just by the end of his presidency, 315 00:14:16,280 --> 00:14:17,880 Speaker 2: what his approval rating was like in the twenties. 316 00:14:18,000 --> 00:14:18,200 Speaker 1: Yes. 317 00:14:18,240 --> 00:14:20,960 Speaker 3: I actually recently was talking with someone and they were like, man, 318 00:14:21,040 --> 00:14:23,120 Speaker 3: the jubilants, the change, and I was like, guys, it's 319 00:14:23,200 --> 00:14:24,920 Speaker 3: just too short. And this is where you like you 320 00:14:25,000 --> 00:14:27,560 Speaker 3: just need to read a book George W. Bush into 321 00:14:27,640 --> 00:14:29,720 Speaker 3: I mean, imagine twenty days in the George W. 322 00:14:29,760 --> 00:14:30,600 Speaker 1: Bush administration. 323 00:14:30,880 --> 00:14:33,280 Speaker 3: The second term I would have been like, America is 324 00:14:33,320 --> 00:14:39,240 Speaker 3: an evangelical Christian country, we are neo conservative, we are 325 00:14:39,800 --> 00:14:44,840 Speaker 3: nation building, and by eighteen months we've tried to privatize 326 00:14:44,880 --> 00:14:48,560 Speaker 3: social security. We have a thousand dead soldiers and service 327 00:14:48,560 --> 00:14:53,080 Speaker 3: members in Iraq. The American people blow out the midterms 328 00:14:53,080 --> 00:14:55,360 Speaker 3: for the Democratic Party. Oh and then to put a 329 00:14:55,360 --> 00:14:57,720 Speaker 3: bow on it, we have the financial crisis and Barack 330 00:14:57,760 --> 00:15:00,360 Speaker 3: Obama wins Indiana. 331 00:15:00,720 --> 00:15:03,000 Speaker 1: So let's all take a step back and let's look 332 00:15:03,040 --> 00:15:04,000 Speaker 1: at where the risk is. 333 00:15:04,120 --> 00:15:06,680 Speaker 2: Well, the risk the other risk, Yeah, the other risk 334 00:15:06,760 --> 00:15:07,840 Speaker 2: is with regard to. 335 00:15:09,360 --> 00:15:09,760 Speaker 4: Inflation. 336 00:15:09,840 --> 00:15:11,880 Speaker 1: Yeah, so I was about to get to yeah, which is. 337 00:15:11,880 --> 00:15:14,240 Speaker 2: You know, people still are like we kind of like, 338 00:15:14,280 --> 00:15:17,040 Speaker 2: did you do something about this whole price high price situation? 339 00:15:17,120 --> 00:15:18,520 Speaker 4: And you don't really seem to have your eye on 340 00:15:18,560 --> 00:15:19,120 Speaker 4: the ball there. 341 00:15:19,200 --> 00:15:22,960 Speaker 2: If anything with tariffs is probably going in the opposite direction. 342 00:15:23,520 --> 00:15:26,440 Speaker 2: So we can put up on the screen the numbers 343 00:15:26,560 --> 00:15:30,160 Speaker 2: not enough focus on prices sixty six percent, So a 344 00:15:30,280 --> 00:15:34,720 Speaker 2: super majority say you got to refocus your priorities here 345 00:15:34,840 --> 00:15:37,640 Speaker 2: only thirty one percent say it is the right amount. 346 00:15:37,720 --> 00:15:40,480 Speaker 2: He got asked by Brought Barrick yesterday in advance of 347 00:15:40,480 --> 00:15:43,440 Speaker 2: the Super Bowl about when families are going to be 348 00:15:43,480 --> 00:15:45,640 Speaker 2: able to feel prices going down. 349 00:15:45,720 --> 00:15:47,320 Speaker 4: Let's take a listen to what Trump have to say. 350 00:15:47,440 --> 00:15:49,400 Speaker 7: When do you think families would be able to feel 351 00:15:50,000 --> 00:15:52,760 Speaker 7: prices going down groceries, energy, or are you kind of 352 00:15:52,800 --> 00:15:56,680 Speaker 7: saying to them hang on, inflation may get worse until 353 00:15:56,680 --> 00:15:58,840 Speaker 7: it gets better. No, I think we're going to become 354 00:15:58,880 --> 00:16:01,560 Speaker 7: a rich We're not that rich right now. We owe 355 00:16:01,560 --> 00:16:04,160 Speaker 7: thirty six trillion dollars. That's because we let all these 356 00:16:04,240 --> 00:16:07,920 Speaker 7: nations take advantage of us. Same thing, like two hundred 357 00:16:08,000 --> 00:16:11,040 Speaker 7: billion with Canada, will three hundred. We have a deficit 358 00:16:11,120 --> 00:16:13,440 Speaker 7: with Mexico of three hundred and fifty billion dollars. 359 00:16:13,440 --> 00:16:14,240 Speaker 1: I'm not going to do that. 360 00:16:14,680 --> 00:16:17,480 Speaker 2: So no real answer there, and then shifts to terrafts, 361 00:16:17,480 --> 00:16:19,520 Speaker 2: which again is part of I think people's however we 362 00:16:19,520 --> 00:16:22,240 Speaker 2: feel about the terrorists, part of people's concern about prices 363 00:16:22,480 --> 00:16:23,000 Speaker 2: going up. 364 00:16:23,120 --> 00:16:25,280 Speaker 4: And Wall Street Journal had a write up. 365 00:16:25,320 --> 00:16:27,600 Speaker 2: Now, listen, Wall Street Journal is just like blanket against 366 00:16:27,640 --> 00:16:30,080 Speaker 2: any tariffs whatsoever. So I think they do have an 367 00:16:30,120 --> 00:16:33,080 Speaker 2: ideological interest in writing up this piece, but the numbers 368 00:16:33,080 --> 00:16:34,640 Speaker 2: that they cite here are really can put this up 369 00:16:34,640 --> 00:16:37,640 Speaker 2: on the screen. They say, the Trump bump in consumer 370 00:16:37,680 --> 00:16:39,200 Speaker 2: confidence is already over. 371 00:16:39,240 --> 00:16:41,480 Speaker 4: The mood of the American consumer is souring. 372 00:16:42,240 --> 00:16:45,640 Speaker 2: They say that consumer sentiment fell about five percent in 373 00:16:45,680 --> 00:16:49,040 Speaker 2: the University of Michigan's preliminary February survey of consumers to 374 00:16:49,160 --> 00:16:52,520 Speaker 2: It's the lowest reading since July of twenty four. Expectations 375 00:16:52,520 --> 00:16:55,120 Speaker 2: of inflation the year had also jumped from three point 376 00:16:55,200 --> 00:16:57,360 Speaker 2: three percent in januarated four point three percent. 377 00:16:57,640 --> 00:16:59,440 Speaker 4: Apparently that is a very. 378 00:16:59,240 --> 00:17:03,400 Speaker 2: Significant Like to see a month over month increase of 379 00:17:03,440 --> 00:17:06,639 Speaker 2: a full percentage point expectation in terms of inflation is 380 00:17:06,720 --> 00:17:07,440 Speaker 2: quite significant. 381 00:17:07,480 --> 00:17:09,280 Speaker 1: Americans is just like they are under Biden. 382 00:17:09,280 --> 00:17:10,800 Speaker 3: They'll give you a chance, right, They'll give you like 383 00:17:10,880 --> 00:17:13,040 Speaker 3: eight nine months, and then if if they feel like 384 00:17:13,040 --> 00:17:15,520 Speaker 3: you're not doing anything, then they're going to turn against you. 385 00:17:15,600 --> 00:17:18,440 Speaker 3: So this is the danger for Donald Trump. This is 386 00:17:18,480 --> 00:17:20,200 Speaker 3: also where I think Elon in them could be a 387 00:17:20,280 --> 00:17:22,439 Speaker 3: danger as well, because the problem with the move fast 388 00:17:22,760 --> 00:17:26,040 Speaker 3: and break things approach is it's fine in the interim 389 00:17:26,080 --> 00:17:29,040 Speaker 3: when people are like oh, it's you know, they're like, oh, 390 00:17:29,160 --> 00:17:33,040 Speaker 3: it's it's energetic, it's awesome, it's fun to watch. But 391 00:17:33,440 --> 00:17:35,520 Speaker 3: you know, right now, I think there's some dose stuff 392 00:17:35,560 --> 00:17:37,679 Speaker 3: going on with FEMA and they're talking about that. 393 00:17:37,720 --> 00:17:38,760 Speaker 1: It's like, look, you're only one. 394 00:17:38,800 --> 00:17:41,879 Speaker 3: I didn't mention in my retrospective about Bush Katrina is 395 00:17:41,920 --> 00:17:43,960 Speaker 3: really what's tank him. If you go back and you look, 396 00:17:44,000 --> 00:17:48,000 Speaker 3: you're only one national disaster away from the entire mood of. 397 00:17:48,000 --> 00:17:50,159 Speaker 1: The country souring and turning against you. 398 00:17:50,160 --> 00:17:53,320 Speaker 3: This is like important differences obviously for that in the future. 399 00:17:53,400 --> 00:17:56,440 Speaker 3: But if you have dose, who is you know, it 400 00:17:56,560 --> 00:18:00,000 Speaker 3: does something or cuts a program or like the fa 401 00:18:00,040 --> 00:18:02,720 Speaker 3: A crash that we had earlier. Imagine if that crash 402 00:18:02,800 --> 00:18:04,720 Speaker 3: was twenty months from now, right, I mean you can 403 00:18:05,000 --> 00:18:08,040 Speaker 3: imagine the media environment right that that would have looked like. 404 00:18:08,160 --> 00:18:10,800 Speaker 2: Previously at that point they were able to be like 405 00:18:11,160 --> 00:18:14,040 Speaker 2: uh oh dah, yeah, now it's like all right, well 406 00:18:14,080 --> 00:18:15,080 Speaker 2: you own this buddy. 407 00:18:14,880 --> 00:18:16,040 Speaker 1: Exactly right, So it's twenty months. 408 00:18:16,080 --> 00:18:19,040 Speaker 3: I mean, look, you know, disasters don't wait for disasters 409 00:18:19,080 --> 00:18:22,320 Speaker 3: don't just conveniently get time. They could happen literally at 410 00:18:22,320 --> 00:18:25,160 Speaker 3: any moment. So I think that's where the Elon Doese 411 00:18:25,200 --> 00:18:28,399 Speaker 3: approach could really come back to bite them a disastrous 412 00:18:28,400 --> 00:18:31,000 Speaker 3: foreign conflict like Gaza. That would be I mean, that's 413 00:18:31,040 --> 00:18:34,399 Speaker 3: the ticket to single digit approval rating. 414 00:18:34,600 --> 00:18:37,600 Speaker 1: Just ask George H. W. Bush and or George H. W. 415 00:18:37,720 --> 00:18:38,399 Speaker 1: B George W. 416 00:18:38,480 --> 00:18:41,879 Speaker 3: Bush, Joe Biden, every single one of them who's costs 417 00:18:42,040 --> 00:18:44,960 Speaker 3: their approval rating to this? So that simple, you know, okay, 418 00:18:45,040 --> 00:18:46,320 Speaker 3: if that's the way that you want to decide. And 419 00:18:46,359 --> 00:18:49,400 Speaker 3: the other is if they feel that if there's a mismatch. 420 00:18:49,400 --> 00:18:52,359 Speaker 3: So this gets to the Bush analogy of privatization of 421 00:18:52,400 --> 00:18:55,800 Speaker 3: Social security. So let's say Trump only does tariffs, but 422 00:18:55,920 --> 00:18:59,359 Speaker 3: just stops carrying stop only does tariffs and cost cutting 423 00:18:59,440 --> 00:19:03,560 Speaker 3: or what doge stuff? Forgets about inflation, and stops bullying 424 00:19:03,560 --> 00:19:06,120 Speaker 3: the federal reserve, which I think is important to try, and. 425 00:19:06,880 --> 00:19:07,800 Speaker 1: He needs to bring that back. 426 00:19:07,840 --> 00:19:10,720 Speaker 3: No, I'm like, listen, privatize this. 427 00:19:10,760 --> 00:19:12,160 Speaker 1: Can we at least get on board with the coop 428 00:19:12,200 --> 00:19:12,359 Speaker 1: of that. 429 00:19:12,440 --> 00:19:14,880 Speaker 3: Let's march into the federal reserve, let's take it over, 430 00:19:14,920 --> 00:19:17,240 Speaker 3: and let's bring it back under civilian administration. 431 00:19:17,359 --> 00:19:18,800 Speaker 1: Let's drop the rates back to zero. 432 00:19:19,440 --> 00:19:24,920 Speaker 3: But if you have a march of two years, you've 433 00:19:24,960 --> 00:19:28,480 Speaker 3: got all of this doze tariff stuff going on. Prices 434 00:19:28,520 --> 00:19:30,480 Speaker 3: either are raised stay flat. 435 00:19:30,800 --> 00:19:31,639 Speaker 1: I think that's a problem. 436 00:19:31,720 --> 00:19:34,119 Speaker 3: If income, wages and all that stuff doesn't start to 437 00:19:34,160 --> 00:19:37,440 Speaker 3: go up, if gas remains relatively flat. That's where two 438 00:19:37,480 --> 00:19:40,840 Speaker 3: years from now, when all you have is vibes of 439 00:19:40,960 --> 00:19:44,080 Speaker 3: doge and media chaos and all the others, that's when 440 00:19:44,160 --> 00:19:46,280 Speaker 3: the people wally turned against Trump in two thousand and 441 00:19:46,359 --> 00:19:48,760 Speaker 3: by the way, don't forget all this is in interim. 442 00:19:48,760 --> 00:19:50,679 Speaker 3: Over the next eighteen months, we're about to pass what 443 00:19:51,040 --> 00:19:55,119 Speaker 3: a massive tax cut re extension on. I mean, there 444 00:19:55,160 --> 00:19:56,879 Speaker 3: might be some good things in there, but let's all 445 00:19:56,880 --> 00:19:58,800 Speaker 3: be honest about what's going to happen. You're going to 446 00:19:58,880 --> 00:20:01,440 Speaker 3: see the extension of a huge corporate tax cut, which 447 00:20:01,480 --> 00:20:03,280 Speaker 3: is one of the worst days of the Trump presidency 448 00:20:03,560 --> 00:20:05,800 Speaker 3: in twenty seventeen if you go back and you look 449 00:20:06,000 --> 00:20:08,480 Speaker 3: at his approval ratings. So there are some serious red 450 00:20:08,520 --> 00:20:11,120 Speaker 3: flags ahead for him, and it's very easy to sink 451 00:20:11,160 --> 00:20:13,520 Speaker 3: yourself if you go in that direction. But the media 452 00:20:13,600 --> 00:20:15,680 Speaker 3: environment has changed, so maybe, you know, maybe things are different. 453 00:20:15,680 --> 00:20:18,719 Speaker 2: I don't know, yeah, maybe, I mean I still think people, 454 00:20:19,040 --> 00:20:21,560 Speaker 2: you know, people are tuned into reality. So if their 455 00:20:21,600 --> 00:20:24,600 Speaker 2: lives are not getting better and prices are high, and 456 00:20:24,840 --> 00:20:26,440 Speaker 2: we're getting entangled and more. 457 00:20:26,600 --> 00:20:27,840 Speaker 1: Well, if you have more. 458 00:20:27,320 --> 00:20:30,440 Speaker 2: Wanted, people are gonna be like, yeah, you know, I'm 459 00:20:30,480 --> 00:20:31,040 Speaker 2: not really. 460 00:20:30,800 --> 00:20:33,720 Speaker 4: Down with it. And there's also just there has been 461 00:20:33,800 --> 00:20:34,520 Speaker 4: a swing. 462 00:20:34,440 --> 00:20:38,320 Speaker 2: Back and forth backlash effect where people are feel like 463 00:20:38,359 --> 00:20:41,160 Speaker 2: the country is on the wrong track and they're not satisfied. 464 00:20:41,280 --> 00:20:43,560 Speaker 2: And so I think, you know, I think the rests 465 00:20:43,560 --> 00:20:44,480 Speaker 2: are pretty high for him. 466 00:20:44,600 --> 00:20:46,360 Speaker 3: Also, the average mortgage rate right now in the United 467 00:20:46,359 --> 00:20:48,560 Speaker 3: States is six point ninety seven percent, So if that 468 00:20:48,600 --> 00:20:50,959 Speaker 3: doesn't go down anytime soon, like that's just going to say, 469 00:20:50,960 --> 00:20:53,040 Speaker 3: if you have four more years of this, people who 470 00:20:53,080 --> 00:20:56,520 Speaker 3: are elder millennials, they're gonna be almost what like nearing 471 00:20:56,600 --> 00:20:58,760 Speaker 3: fifty Yeah, and they're not gonna be able to buy 472 00:20:58,720 --> 00:21:01,119 Speaker 3: a house. Like what, that's that's too much, right, So 473 00:21:01,160 --> 00:21:03,320 Speaker 3: if you can think about some of the some of 474 00:21:03,320 --> 00:21:05,320 Speaker 3: the ways that can manifest itself politically. 475 00:21:05,480 --> 00:21:07,520 Speaker 1: Still we always covered it here over the last several years. 476 00:21:07,560 --> 00:21:09,520 Speaker 3: I still think that's a huge reason why oh yeah 477 00:21:09,680 --> 00:21:10,840 Speaker 3: was successful in this election. 478 00:21:13,440 --> 00:21:14,520 Speaker 1: Let's get to the elon part. 479 00:21:14,640 --> 00:21:16,520 Speaker 3: This is important too and gets to some of the 480 00:21:16,560 --> 00:21:19,600 Speaker 3: stuff we're talking about here. Let's put this poll up 481 00:21:19,600 --> 00:21:22,320 Speaker 3: there on the screen. This was from The Economist and 482 00:21:22,400 --> 00:21:26,359 Speaker 3: you Gov, and they did a poll of Republicans where 483 00:21:26,560 --> 00:21:29,480 Speaker 3: they supported. They asked them in November of twenty twenty 484 00:21:29,480 --> 00:21:32,480 Speaker 3: four how much they wanted Elon to have influence in 485 00:21:32,480 --> 00:21:35,560 Speaker 3: the Trump administration. So at that time post election, they 486 00:21:35,600 --> 00:21:37,960 Speaker 3: said they wanted Elon to quote have a lot of 487 00:21:38,119 --> 00:21:41,840 Speaker 3: influence over the incoming Trump administration. Forty seven percent, twenty 488 00:21:41,880 --> 00:21:44,240 Speaker 3: nine percent said a little, twelve percent said none at all. 489 00:21:44,520 --> 00:21:47,720 Speaker 3: Now let's go to where we are today in February. 490 00:21:47,760 --> 00:21:50,120 Speaker 3: You have twenty six percent a lot, forty three percent 491 00:21:50,160 --> 00:21:52,360 Speaker 3: a little, seventeen percent none at all. So a big 492 00:21:52,400 --> 00:21:54,640 Speaker 3: shift from a lot to a little. This is difficult 493 00:21:54,640 --> 00:21:57,040 Speaker 3: to parse, you know, it's kind of complicated in terms 494 00:21:57,080 --> 00:21:59,080 Speaker 3: of all of that. But this is big questions too 495 00:21:59,080 --> 00:22:01,080 Speaker 3: in terms of like what is fueling then what even 496 00:22:01,160 --> 00:22:05,040 Speaker 3: that really means. But there's some signs for some problems 497 00:22:05,040 --> 00:22:07,160 Speaker 3: there for Elon and for Doze. 498 00:22:07,240 --> 00:22:08,120 Speaker 1: Let's go to the next one. 499 00:22:08,200 --> 00:22:10,120 Speaker 2: Let me just before we jump to the next one, 500 00:22:10,200 --> 00:22:11,959 Speaker 2: let me just also point out the numbers from there 501 00:22:12,000 --> 00:22:14,639 Speaker 2: with regard to Democrats and independence. I mean, you can 502 00:22:14,680 --> 00:22:17,800 Speaker 2: imagine Democrats were never super psyched about Elon having a 503 00:22:17,800 --> 00:22:22,200 Speaker 2: lot of influence in the Trump administration. But in November 504 00:22:22,280 --> 00:22:24,760 Speaker 2: you had fifteen percent of Democrats and twenty six percent 505 00:22:24,800 --> 00:22:27,200 Speaker 2: of Independence saying they wanted him to have a lot 506 00:22:27,240 --> 00:22:32,320 Speaker 2: of influence. Overall, thirteen percent of surveyed Americans want Monthks 507 00:22:32,320 --> 00:22:35,560 Speaker 2: to have a lot of influence on the Trump administration. Now, 508 00:22:35,920 --> 00:22:38,280 Speaker 2: So at this point in time, whereas previously it was 509 00:22:38,280 --> 00:22:40,760 Speaker 2: fifteen percent of Democrats twenty six percent of Independence saying 510 00:22:40,840 --> 00:22:42,480 Speaker 2: they wanted him to have a lot, now it's only 511 00:22:42,920 --> 00:22:45,879 Speaker 2: six percent of Independence who say they want him to 512 00:22:45,920 --> 00:22:49,159 Speaker 2: have a lot of influence. And if you take the 513 00:22:49,280 --> 00:22:52,960 Speaker 2: entire American public together, only thirteen percent say they want 514 00:22:53,000 --> 00:22:54,760 Speaker 2: him to have a lot of influence. And you know, 515 00:22:54,840 --> 00:22:58,040 Speaker 2: I think there's just a natural reaction against like the 516 00:22:58,160 --> 00:23:01,000 Speaker 2: richest man on the planet making all of these decisions 517 00:23:01,040 --> 00:23:04,000 Speaker 2: about whether you get Social Security, whether your public school 518 00:23:04,000 --> 00:23:07,399 Speaker 2: system gets funded, whether your head Start has funding, whether 519 00:23:07,440 --> 00:23:11,679 Speaker 2: your rural health clinic has funding, et cetera. There's a 520 00:23:11,920 --> 00:23:14,199 Speaker 2: revulsion to that. And I think, you know, as he 521 00:23:14,359 --> 00:23:17,680 Speaker 2: has aggressively asserted himself in ways that frankly went far 522 00:23:17,720 --> 00:23:21,000 Speaker 2: beyond I always thought Doge would have teeth. I never 523 00:23:21,040 --> 00:23:23,680 Speaker 2: thought it was some blue ribbon commission make work project. 524 00:23:23,960 --> 00:23:27,439 Speaker 2: This has gone way beyond what I expected, and is 525 00:23:27,440 --> 00:23:29,320 Speaker 2: a piece of this that you know, of the Trump 526 00:23:29,320 --> 00:23:33,000 Speaker 2: administration that I really didn't factor in, you know, going 527 00:23:33,040 --> 00:23:35,360 Speaker 2: in thinking about how this was all going to unfold. 528 00:23:35,640 --> 00:23:38,679 Speaker 2: And so I do think there is a reaction against 529 00:23:39,160 --> 00:23:42,639 Speaker 2: that usurping of power from you know, the dude that 530 00:23:42,680 --> 00:23:45,400 Speaker 2: just got elected and the Congress, et cetera, and all 531 00:23:45,520 --> 00:23:47,240 Speaker 2: consolidating power in the hands of this one. 532 00:23:47,240 --> 00:23:47,359 Speaker 1: All. 533 00:23:47,480 --> 00:23:52,080 Speaker 3: I think it's possible, but there I'm still very skeptical 534 00:23:52,480 --> 00:23:55,280 Speaker 3: of this theory I have. So I'll just say this 535 00:23:55,560 --> 00:23:58,800 Speaker 3: politically I have really had to force myself. Is the 536 00:23:58,840 --> 00:24:02,280 Speaker 3: media being institute utionally left wing and the narratives of 537 00:24:02,320 --> 00:24:04,520 Speaker 3: a lot of this stuff that have been able to shape. 538 00:24:05,080 --> 00:24:09,119 Speaker 3: Think about the biggest syops of the election like Brat Summer, 539 00:24:09,320 --> 00:24:14,240 Speaker 3: fake right, Tim Wall's incredible candidate fake such incredible with 540 00:24:14,280 --> 00:24:17,600 Speaker 3: the men, all that fake beyondce say, all this other 541 00:24:17,600 --> 00:24:20,919 Speaker 3: stuff non existent when we think back through the election, 542 00:24:21,119 --> 00:24:23,760 Speaker 3: even with the Poles and other childless cat ladies, is 543 00:24:23,760 --> 00:24:26,640 Speaker 3: going to sink them with women? Fake Springfield, Ohio, Oh, 544 00:24:26,640 --> 00:24:29,800 Speaker 3: that's gonna newke them. Nope, Actually Springfield voted more for Trump. 545 00:24:29,840 --> 00:24:33,280 Speaker 3: Puerto Rico garbage, git, all of that complete siop on 546 00:24:33,560 --> 00:24:34,080 Speaker 3: all of these. 547 00:24:34,240 --> 00:24:36,360 Speaker 1: I still I'm not sure I yet. 548 00:24:36,240 --> 00:24:39,320 Speaker 3: Grasp the lack of power the media has in shaping 549 00:24:39,359 --> 00:24:42,080 Speaker 3: its narratives. So, for example, in this question, the United 550 00:24:42,119 --> 00:24:44,480 Speaker 3: States isn't a constitucial crisis, they say, agree to fifty 551 00:24:44,480 --> 00:24:45,880 Speaker 3: four percent, disagree twenty seven. 552 00:24:45,920 --> 00:24:47,880 Speaker 1: So people are like, see, people are turning against Elon. 553 00:24:47,960 --> 00:24:50,040 Speaker 3: It's like, well, if you ask the average Joe on 554 00:24:50,080 --> 00:24:52,320 Speaker 3: the street, is the United States in a console crisis? 555 00:24:52,359 --> 00:24:54,359 Speaker 1: And he says yes, Is he talking about Elon? 556 00:24:54,520 --> 00:24:57,080 Speaker 3: Or is he talking about Mitch McConnell being like ninety 557 00:24:57,160 --> 00:24:59,960 Speaker 3: nine years old and collapsing in every stroke? Is he 558 00:25:00,119 --> 00:25:03,800 Speaker 3: talking about is he probably just evergreen agreed because he 559 00:25:03,840 --> 00:25:06,280 Speaker 3: doesn't like the way that the government is going. Yeah, 560 00:25:06,320 --> 00:25:10,520 Speaker 3: I'm still just deeply skeptical that Americans are as tuned in. 561 00:25:10,680 --> 00:25:13,280 Speaker 3: I think what I really learned from the election was 562 00:25:13,320 --> 00:25:16,320 Speaker 3: that the power of these media narratives around childish cat ladies, 563 00:25:16,720 --> 00:25:19,320 Speaker 3: around haitians, about I mean, all of this, it just 564 00:25:19,520 --> 00:25:22,679 Speaker 3: it ended up being literally the opposite. I mean, so 565 00:25:22,880 --> 00:25:26,800 Speaker 3: much of the institutional credibility from the Seltzer poll, all 566 00:25:26,840 --> 00:25:29,920 Speaker 3: of these shibbolets that we all had in American politics 567 00:25:29,960 --> 00:25:31,320 Speaker 3: were broken fundamentally. 568 00:25:31,320 --> 00:25:33,600 Speaker 1: And I'm not talking about this from like, oh. 569 00:25:33,440 --> 00:25:35,280 Speaker 3: My god, this is amazing, but you're like, you really 570 00:25:35,320 --> 00:25:37,480 Speaker 3: do have to look at it and be like wow, wow. 571 00:25:37,600 --> 00:25:39,880 Speaker 3: I mean really, when you think about all the things 572 00:25:39,880 --> 00:25:41,840 Speaker 3: that people said that we're going to sink Donald Trump 573 00:25:41,920 --> 00:25:44,159 Speaker 3: and they ended up having, if anything, a negligible or 574 00:25:44,200 --> 00:25:47,520 Speaker 3: the opposite effect in the electorate, I'm just deeply skeptical 575 00:25:47,560 --> 00:25:50,840 Speaker 3: about this elon thing hitting home unless something like what 576 00:25:50,840 --> 00:25:54,199 Speaker 3: you're saying materializes. So far, social security has not been 577 00:25:54,240 --> 00:25:58,200 Speaker 3: touched right, getting access to socialecurity. Okay, even Medicare, it's like, well, 578 00:25:58,280 --> 00:26:02,119 Speaker 3: if you get Medicare fraud, it's great. Actually some estimate 579 00:26:02,119 --> 00:26:04,280 Speaker 3: of fifty billion dollars in Medicare fraud. 580 00:26:04,320 --> 00:26:06,280 Speaker 1: Will they properly do it? I don't know what they're doing, 581 00:26:06,400 --> 00:26:08,680 Speaker 1: but I don't know. Listen, I have no idea. 582 00:26:09,280 --> 00:26:13,159 Speaker 4: The question is time after Rick Scott, Well, actually we. 583 00:26:13,119 --> 00:26:15,440 Speaker 3: Should go after Rick Scott. 584 00:26:15,800 --> 00:26:18,240 Speaker 1: They're not going to do that. The question is how. 585 00:26:18,080 --> 00:26:23,920 Speaker 3: It materializes functionally, and also how people experience these events 586 00:26:23,960 --> 00:26:26,960 Speaker 3: really in their lives. And I really took away from 587 00:26:26,960 --> 00:26:29,280 Speaker 3: the election that because if you turn on CNN and 588 00:26:29,480 --> 00:26:31,800 Speaker 3: all of that is all this must talk and all 589 00:26:31,840 --> 00:26:33,600 Speaker 3: of this. I don't think it's bad because you know, 590 00:26:33,680 --> 00:26:36,840 Speaker 3: here we're talking, we're trying to predict the impact of stuff, 591 00:26:37,200 --> 00:26:40,240 Speaker 3: but really, when you think back to that effect, it 592 00:26:40,320 --> 00:26:44,080 Speaker 3: just didn't exist. So I'm skeptical of some of this stuff, 593 00:26:44,359 --> 00:26:46,760 Speaker 3: deeply am in terms of just you know, even in 594 00:26:46,760 --> 00:26:49,200 Speaker 3: the polling, and I've I've had to learn that on immigration, 595 00:26:49,320 --> 00:26:50,000 Speaker 3: mass deportation. 596 00:26:50,040 --> 00:26:52,080 Speaker 1: I'm not going to excuse the America's totally with this. 597 00:26:52,240 --> 00:26:54,280 Speaker 3: I know how Americans are, right, Like the moment you 598 00:26:54,320 --> 00:26:55,920 Speaker 3: see a little kid in a cage is like things 599 00:26:55,920 --> 00:26:58,320 Speaker 3: can change a lot, and they can change on a dime. 600 00:26:58,359 --> 00:27:01,679 Speaker 3: So the vibe, the way that you experience, and the 601 00:27:01,680 --> 00:27:03,440 Speaker 3: way that you actually execute a lot of this stuff. 602 00:27:03,440 --> 00:27:05,120 Speaker 1: I think that stuff matters the most. 603 00:27:05,160 --> 00:27:07,479 Speaker 3: And so I'm not ready to make a call like 604 00:27:07,560 --> 00:27:10,480 Speaker 3: Elon is dramatically unpopular, Elon is all this All I 605 00:27:10,480 --> 00:27:11,320 Speaker 3: can say is a risk. 606 00:27:11,359 --> 00:27:12,440 Speaker 1: I know he has his own agenda. 607 00:27:12,600 --> 00:27:14,520 Speaker 3: You know, Analytically, I can see the ways that this 608 00:27:14,560 --> 00:27:16,920 Speaker 3: could go wrong, but I could also see how it 609 00:27:16,920 --> 00:27:18,680 Speaker 3: could be a pretty popular success. 610 00:27:19,040 --> 00:27:21,119 Speaker 2: I don't think so, but I mean to be honest 611 00:27:21,119 --> 00:27:24,040 Speaker 2: with you, like I, this to me is the least 612 00:27:24,040 --> 00:27:26,600 Speaker 2: important point. You know, what we were discussing before the 613 00:27:26,640 --> 00:27:28,840 Speaker 2: reality of what he's doing and what it means for 614 00:27:28,880 --> 00:27:30,960 Speaker 2: the country, to me is the most important point. 615 00:27:31,440 --> 00:27:35,480 Speaker 4: But you know, the trend, the decline for Elon. 616 00:27:35,720 --> 00:27:37,719 Speaker 2: He used to be very popular, you know, and people, oh, 617 00:27:37,760 --> 00:27:40,400 Speaker 2: he's a genius, he's an inventor, blah blah blah, made 618 00:27:40,400 --> 00:27:41,080 Speaker 2: my electric car. 619 00:27:41,119 --> 00:27:41,879 Speaker 4: I think it's awesome. 620 00:27:41,960 --> 00:27:43,960 Speaker 2: I mean, a lot of liberals love this guy, right, 621 00:27:44,160 --> 00:27:46,439 Speaker 2: I'm seeing a lot of bumper stickers on teslas that 622 00:27:46,440 --> 00:27:48,440 Speaker 2: are like, I bought this before we knew Elon was 623 00:27:48,480 --> 00:27:49,760 Speaker 2: insane and things like that. 624 00:27:50,280 --> 00:27:53,960 Speaker 4: But you know, he had high. 625 00:27:52,960 --> 00:27:57,240 Speaker 2: Approval ratings kind of across the board, and ever since 626 00:27:57,280 --> 00:28:00,800 Speaker 2: he really, you know, became a partisan figure, obviously, his 627 00:28:00,840 --> 00:28:04,800 Speaker 2: approval rating took a hit because that's just gonna instantly, instantly, 628 00:28:04,920 --> 00:28:08,879 Speaker 2: you know, lead you into this very tribal, partisan mindset. 629 00:28:09,280 --> 00:28:13,720 Speaker 2: And then since he's been so aggressively at the forefront 630 00:28:13,720 --> 00:28:16,560 Speaker 2: of the Trump administration, it seems pretty clear his approval 631 00:28:16,600 --> 00:28:19,520 Speaker 2: rating has continued to decline. I don't disagree on the 632 00:28:19,560 --> 00:28:23,919 Speaker 2: constitutional crisis peace, even though I do think it's pretty 633 00:28:24,000 --> 00:28:26,639 Speaker 2: you know, we're pretty clearly into a constitutional crisis, or 634 00:28:26,640 --> 00:28:28,360 Speaker 2: at the very least, if they go forward with their 635 00:28:28,359 --> 00:28:31,239 Speaker 2: threats to ignore court decisions, we will certainly be in 636 00:28:31,280 --> 00:28:34,040 Speaker 2: a constitutional crisis. I think you would even agree with 637 00:28:34,080 --> 00:28:36,679 Speaker 2: it at that point if that ultimately happens. But I 638 00:28:36,720 --> 00:28:38,640 Speaker 2: do think that there's probably a lot of people who, 639 00:28:38,960 --> 00:28:41,560 Speaker 2: you know, just like they're not happy with the government, 640 00:28:41,640 --> 00:28:43,920 Speaker 2: and then it's just like, yes, it's a constitutional crisis, 641 00:28:43,920 --> 00:28:45,880 Speaker 2: sort of like you know, on an election night, there 642 00:28:45,960 --> 00:28:47,680 Speaker 2: was like what was what was. 643 00:28:47,600 --> 00:28:48,280 Speaker 4: Your top issue? 644 00:28:48,360 --> 00:28:52,240 Speaker 2: One of them was preserving to be boy or whatever, 645 00:28:52,520 --> 00:28:54,120 Speaker 2: and there were a lot of Republicans who were like, 646 00:28:54,240 --> 00:28:55,800 Speaker 2: we have to elect Donald Trump. 647 00:28:55,640 --> 00:28:58,080 Speaker 1: To present the election was stolen democracy. 648 00:28:57,560 --> 00:28:59,840 Speaker 2: Because the election was and even you know, with the 649 00:29:00,000 --> 00:29:02,320 Speaker 2: institutional crisis thing, even if I'm to read into it 650 00:29:02,360 --> 00:29:04,680 Speaker 2: that people really are paying attention, et cetera. 651 00:29:05,000 --> 00:29:06,440 Speaker 4: I mean, now you have you had Elon. 652 00:29:06,520 --> 00:29:09,960 Speaker 2: We showed the tweet earlier where he's calling a federal 653 00:29:10,000 --> 00:29:12,800 Speaker 2: court making a ruling a judicial coup. 654 00:29:13,640 --> 00:29:14,960 Speaker 4: So they're also. 655 00:29:14,760 --> 00:29:18,440 Speaker 2: Setting up language about how it's a constitutional crisis because 656 00:29:18,440 --> 00:29:21,680 Speaker 2: the courts are overreaching and they're checking the legitimate power 657 00:29:21,680 --> 00:29:24,360 Speaker 2: of the executive, et cetera, et cetera. The reason though, 658 00:29:24,360 --> 00:29:27,600 Speaker 2: why I depart from you in terms of like, I 659 00:29:27,960 --> 00:29:30,720 Speaker 2: don't again, I don't know that it matters that much 660 00:29:30,720 --> 00:29:33,120 Speaker 2: whether it's popular or not, although we have seen some 661 00:29:33,520 --> 00:29:36,640 Speaker 2: pushback work in some limited ways. But the way he's 662 00:29:36,640 --> 00:29:39,920 Speaker 2: trying to consolidate power is to make like your democratic 663 00:29:40,000 --> 00:29:42,360 Speaker 2: always completely irrelevant. That is part of the project of 664 00:29:42,400 --> 00:29:46,720 Speaker 2: installing a monarch and a CEO dictator. But the reason 665 00:29:46,760 --> 00:29:48,760 Speaker 2: why I think it's going to be dramatically unpopular is 666 00:29:48,800 --> 00:29:51,640 Speaker 2: because the you know, even if you take the Silicon 667 00:29:51,720 --> 00:29:54,720 Speaker 2: Valley framing, the like move fast and break things, that 668 00:29:54,800 --> 00:29:58,840 Speaker 2: means you're breaking things, and the federal government does matter 669 00:29:59,120 --> 00:30:01,760 Speaker 2: for people, you know, for planes not falling out of 670 00:30:01,760 --> 00:30:04,800 Speaker 2: the sky, and your local health clinic getting funded. Right now, 671 00:30:04,800 --> 00:30:07,680 Speaker 2: in Virginia, half of the rural health clinics that are 672 00:30:07,720 --> 00:30:10,200 Speaker 2: particularly dependent on actually in rural like red parts of 673 00:30:10,200 --> 00:30:14,400 Speaker 2: the state, like southwestern Virginia, half of them are still funding. 674 00:30:14,680 --> 00:30:16,520 Speaker 2: Quite a number of them have had to shut down. 675 00:30:16,720 --> 00:30:18,840 Speaker 2: Virginia's not the only stay of Rhode Island. Other states 676 00:30:18,840 --> 00:30:22,800 Speaker 2: across the country still are lacking funding. You've had farmers 677 00:30:23,120 --> 00:30:26,720 Speaker 2: who were depending on deals that they had made with 678 00:30:26,760 --> 00:30:29,360 Speaker 2: the federal government to finance certain investments in their farms. 679 00:30:29,400 --> 00:30:32,200 Speaker 2: Those contracts have been at least paused, so they are 680 00:30:32,200 --> 00:30:34,080 Speaker 2: on the hook for hundreds of thousands of dollars that 681 00:30:34,120 --> 00:30:36,280 Speaker 2: they thought the federal government was going to participate in 682 00:30:36,320 --> 00:30:40,280 Speaker 2: those costs for that upgrade those you know. And that's 683 00:30:40,400 --> 00:30:43,880 Speaker 2: just like the small ball beginning of the situation. But 684 00:30:44,640 --> 00:30:47,240 Speaker 2: the way he operates, if you just look at the 685 00:30:47,280 --> 00:30:49,280 Speaker 2: way he operates a Twitter, if you look at the 686 00:30:49,280 --> 00:30:54,440 Speaker 2: way he's operated at Tesla, at SpaceX, etc. Things literally break, 687 00:30:54,680 --> 00:31:00,200 Speaker 2: Rockets literally explode. Twitter is unable to host a spaces 688 00:31:00,280 --> 00:31:02,840 Speaker 2: with Ron DeSantis, and then the one with Trump has 689 00:31:02,840 --> 00:31:05,200 Speaker 2: all sorts of audio issues and problems and sounds like 690 00:31:05,200 --> 00:31:09,040 Speaker 2: shit as well. That's one thing when you're running a company. 691 00:31:09,560 --> 00:31:13,120 Speaker 2: It's another thing when you're running the government. So even 692 00:31:13,160 --> 00:31:17,040 Speaker 2: by his own description of what he's doing here, it's 693 00:31:17,080 --> 00:31:20,680 Speaker 2: going to require it's going to lead to things breaking 694 00:31:20,760 --> 00:31:23,560 Speaker 2: that are important to people, and I do think there 695 00:31:23,600 --> 00:31:26,600 Speaker 2: will be a tremendous backlash against that. Now, whether that 696 00:31:26,640 --> 00:31:29,040 Speaker 2: backlash matters or not to me is the more of 697 00:31:29,080 --> 00:31:29,840 Speaker 2: the open question. 698 00:31:30,000 --> 00:31:32,000 Speaker 3: I think you might listen. I think the risk is there, 699 00:31:32,520 --> 00:31:34,080 Speaker 3: it's still a hope if they're smart. 700 00:31:34,120 --> 00:31:35,320 Speaker 1: What you do is you just keep. 701 00:31:35,240 --> 00:31:40,840 Speaker 3: It on CFPB, Usaid Medicare fraud. If a single check 702 00:31:41,000 --> 00:31:44,080 Speaker 3: gets stopped, that's when there's going to be problems if 703 00:31:44,120 --> 00:31:46,040 Speaker 3: old people don't get their healthcare. 704 00:31:46,400 --> 00:31:47,840 Speaker 1: If old people don't. 705 00:31:47,640 --> 00:31:48,440 Speaker 4: It's already happened. 706 00:31:48,480 --> 00:31:50,520 Speaker 1: I mean, these healths. Well, then actually, let's get to 707 00:31:50,560 --> 00:31:51,480 Speaker 1: a bigger political point. 708 00:31:51,480 --> 00:31:53,400 Speaker 3: I mean, maybe we'll talk about this with CFPB, but 709 00:31:53,680 --> 00:31:55,200 Speaker 3: let's be honest here, right, a lot of the people 710 00:31:55,320 --> 00:31:56,920 Speaker 3: were being affected voted red. 711 00:31:56,960 --> 00:31:58,920 Speaker 1: Are they really going to blame Trump and Elon? Are 712 00:31:58,960 --> 00:32:01,000 Speaker 1: they going to blame democrats? Like? Are they actually going 713 00:32:01,080 --> 00:32:02,080 Speaker 1: to make the dots? 714 00:32:02,840 --> 00:32:06,400 Speaker 3: Skeptical personally in terms of the way that politics has changed, 715 00:32:06,800 --> 00:32:09,800 Speaker 3: and just think about the media environment that people swim in. 716 00:32:10,920 --> 00:32:13,400 Speaker 1: You know, this is do we have Thomas Frank's book here? 717 00:32:13,440 --> 00:32:14,240 Speaker 1: I think we used to. 718 00:32:14,680 --> 00:32:17,200 Speaker 3: I mean, what's the matter with Kansas? I understand how 719 00:32:17,440 --> 00:32:20,040 Speaker 3: left to see it. It's also a diagnosis for literally 720 00:32:20,080 --> 00:32:22,080 Speaker 3: how the playbook of all of this has happened. 721 00:32:22,160 --> 00:32:24,080 Speaker 1: Yeah, I encourage people to go out and read it. 722 00:32:24,120 --> 00:32:26,760 Speaker 2: This is kind of my monologue about the way that 723 00:32:27,000 --> 00:32:30,360 Speaker 2: even like the you know, changes of the CFPB are 724 00:32:30,400 --> 00:32:33,600 Speaker 2: being ushered in under like a culture war agenda, and 725 00:32:34,080 --> 00:32:36,560 Speaker 2: you know it's similar to what like similar to what 726 00:32:36,600 --> 00:32:40,040 Speaker 2: liberals did with like, instead of lifting wages, we're going 727 00:32:40,120 --> 00:32:42,760 Speaker 2: to just you know, have a diversity statement or how 728 00:32:43,240 --> 00:32:46,760 Speaker 2: you know, yeah, land acknowledgments and these sorts of things. 729 00:32:46,800 --> 00:32:49,800 Speaker 2: Or we're going to pass a resolution affirming the Equal 730 00:32:49,920 --> 00:32:50,640 Speaker 2: Rights Amendment. 731 00:32:50,840 --> 00:32:53,320 Speaker 1: You know, yeah, with the very last women's rights or whatever. 732 00:32:53,480 --> 00:32:55,760 Speaker 1: Oh was that. I wish we cover that more, but yeah, I. 733 00:32:55,760 --> 00:32:58,840 Speaker 2: Mean, I'll save this for my monologue. But that's effectively 734 00:32:58,880 --> 00:32:59,880 Speaker 2: the playbook here is. 735 00:33:03,000 --> 00:33:06,040 Speaker 3: Speaking of all of this, there has been the latest 736 00:33:06,040 --> 00:33:08,800 Speaker 3: in the Trump administration's war on the administrative state. Let's 737 00:33:08,800 --> 00:33:11,520 Speaker 3: go and put this up there on the screen. Russbaut, 738 00:33:11,560 --> 00:33:15,240 Speaker 3: who is the OMB director, has said, quote, pursuant to 739 00:33:15,280 --> 00:33:18,840 Speaker 3: the Consumer Financial Protection Act, I have notified the Federal 740 00:33:18,880 --> 00:33:22,160 Speaker 3: Reserve that CFPB will not be taking its next draw 741 00:33:22,240 --> 00:33:26,160 Speaker 3: of unappropriated funding because it is not reasonably necessary to 742 00:33:26,240 --> 00:33:29,040 Speaker 3: carry out its duties. The Bureau's current balance of seven 743 00:33:29,120 --> 00:33:31,920 Speaker 3: hundred and eleven million is in fact excessive in the 744 00:33:31,920 --> 00:33:37,000 Speaker 3: current fiscal environment. The spigot long contributing to CFPB's unaccountability 745 00:33:37,080 --> 00:33:40,960 Speaker 3: is being turned off. So Russbot is the OMB director, 746 00:33:40,960 --> 00:33:44,400 Speaker 3: but he's also the acting CFPB director. 747 00:33:44,840 --> 00:33:46,400 Speaker 1: And what this does. 748 00:33:46,480 --> 00:33:49,959 Speaker 3: Is it's an effective way to backdoor shut down the government. 749 00:33:50,080 --> 00:33:53,800 Speaker 3: CFPB has been the subject of insane amounts of litigation 750 00:33:54,120 --> 00:33:56,800 Speaker 3: over the last decade or so, so this is the 751 00:33:56,840 --> 00:33:59,520 Speaker 3: way that they have been able to become the acting 752 00:33:59,520 --> 00:34:03,360 Speaker 3: director even though it's an independent agency. Stopping requests for 753 00:34:03,440 --> 00:34:06,000 Speaker 3: funding is the only legal way to be able to 754 00:34:06,000 --> 00:34:08,359 Speaker 3: get around some of this. Although we'll get to in 755 00:34:08,400 --> 00:34:11,399 Speaker 3: fact how that will progress. Let's put this up there 756 00:34:11,400 --> 00:34:14,319 Speaker 3: on the screen. There was the latest direction here from 757 00:34:14,480 --> 00:34:18,640 Speaker 3: Russpot which said that directed the Consumer Financial Protection Beers 758 00:34:18,680 --> 00:34:22,839 Speaker 3: staff to quote issue no rules, suspend the effective dates 759 00:34:22,880 --> 00:34:27,360 Speaker 3: of all final rules, and cease any new investigations. So 760 00:34:27,760 --> 00:34:30,600 Speaker 3: I mean, you don't appropriate any more funding, and then 761 00:34:30,640 --> 00:34:33,480 Speaker 3: you also don't you don't appropriate more funding, and they 762 00:34:33,480 --> 00:34:36,400 Speaker 3: also tell them not to do anything. This is kind 763 00:34:36,440 --> 00:34:39,040 Speaker 3: of what the Trump administration tried to do last time, 764 00:34:39,080 --> 00:34:41,439 Speaker 3: Crystal with the establishment of god Blake. 765 00:34:41,600 --> 00:34:43,920 Speaker 1: His name right now, The acting chief is mc malvainey. There, 766 00:34:43,920 --> 00:34:44,800 Speaker 1: it is mc malvaney. 767 00:34:44,880 --> 00:34:47,759 Speaker 3: They also made him the acting CFPB director, there was 768 00:34:47,800 --> 00:34:49,360 Speaker 3: huge amounts of litigation. I think it was a Supreme 769 00:34:49,400 --> 00:34:51,960 Speaker 3: Court case happened CFPB as well. That gets to this 770 00:34:52,000 --> 00:34:55,320 Speaker 3: whole independent agency versus an executive part of the executive. 771 00:34:55,480 --> 00:34:58,360 Speaker 2: Justice Thomas wrote the majority opinion that's right seven to 772 00:34:58,480 --> 00:35:00,239 Speaker 2: your decision that it was in fact that it. 773 00:35:00,520 --> 00:35:02,239 Speaker 1: Was a constitutional agency. 774 00:35:02,600 --> 00:35:04,919 Speaker 3: That has not stop people from saying it's unconstitutional, which 775 00:35:04,920 --> 00:35:07,640 Speaker 3: we'll get to in a little bit, but this is 776 00:35:07,680 --> 00:35:09,759 Speaker 3: one of those where it look, I think we can 777 00:35:09,800 --> 00:35:12,640 Speaker 3: all be honest here about who is the most who 778 00:35:12,719 --> 00:35:15,799 Speaker 3: is the happiest to see CFPB gone, And it is 779 00:35:15,800 --> 00:35:18,520 Speaker 3: the crypto industry. Now you could judge for yourself as 780 00:35:18,520 --> 00:35:21,200 Speaker 3: to why that is. You know, Crystal, obviously you're very 781 00:35:21,200 --> 00:35:24,200 Speaker 3: skeptical crypto. What they say is the mark end recent 782 00:35:24,239 --> 00:35:28,040 Speaker 3: Line and others, is that effectively stifles competition by forcing 783 00:35:28,160 --> 00:35:33,120 Speaker 3: these crypto and fintech companies to comply with all of these, 784 00:35:33,360 --> 00:35:37,759 Speaker 3: according to them, onerous financial regulations which make it impossible 785 00:35:37,800 --> 00:35:40,480 Speaker 3: for them to do business. So the CFBB and the 786 00:35:40,520 --> 00:35:43,960 Speaker 3: SEC have been the two regulatory twins that have really 787 00:35:44,239 --> 00:35:48,400 Speaker 3: stopped people like Meta Twitter, all these fintech companies from 788 00:35:48,440 --> 00:35:52,400 Speaker 3: being able to move into the legitimate financial system and 789 00:35:52,480 --> 00:35:55,080 Speaker 3: to compete against them, they claim that they're better. You 790 00:35:55,120 --> 00:35:58,160 Speaker 3: can judge again for yourself for how all of it is, but. 791 00:35:58,160 --> 00:36:01,680 Speaker 1: That is the main ass that they had coming into this. 792 00:36:01,719 --> 00:36:06,040 Speaker 3: There were three things CFPB, FTC SEC, yep, and they've 793 00:36:06,080 --> 00:36:06,600 Speaker 3: gotten all of them. 794 00:36:06,520 --> 00:36:07,359 Speaker 4: They've gotten all of them. 795 00:36:07,400 --> 00:36:11,879 Speaker 2: Yeah, And so I mean, just to zoom out the 796 00:36:11,920 --> 00:36:15,879 Speaker 2: Consumer Financial Protection Bureau set up after the financial crash too. 797 00:36:16,080 --> 00:36:18,360 Speaker 2: I mean, it's in the name to try to protect consumers, 798 00:36:18,480 --> 00:36:21,120 Speaker 2: and they've returned some twenty one billion dollars to consumers 799 00:36:21,160 --> 00:36:24,640 Speaker 2: who've been defrauded and scanned in various ways. It actually 800 00:36:24,680 --> 00:36:27,960 Speaker 2: has quite a relatively small budget and has been a 801 00:36:28,000 --> 00:36:31,200 Speaker 2: fantastic return on the investment in terms of taxpayer dollars, 802 00:36:31,200 --> 00:36:33,600 Speaker 2: although it's not even really technically taxpayer dollars because it's 803 00:36:33,600 --> 00:36:35,960 Speaker 2: funded by the Treasury, but whatever, it's been a fantastic 804 00:36:35,960 --> 00:36:38,600 Speaker 2: return on investment in terms of providing value to consumers. 805 00:36:38,840 --> 00:36:39,040 Speaker 1: You know. 806 00:36:39,120 --> 00:36:42,360 Speaker 2: Let me just Stoler had a great post about the 807 00:36:42,400 --> 00:36:46,080 Speaker 2: CFPB and what this means going forward, and he points 808 00:36:46,120 --> 00:36:48,080 Speaker 2: out some of the things that you know may have 809 00:36:48,160 --> 00:36:51,960 Speaker 2: interacted with your life in a way that is relatively 810 00:36:52,000 --> 00:36:54,040 Speaker 2: meaningful he says, let's start with some of the small 811 00:36:54,080 --> 00:36:58,359 Speaker 2: stuff they do. Rules against excessive overdraft fees. That's going 812 00:36:58,400 --> 00:37:01,320 Speaker 2: to be gone. Rule capping credit card late fees, that's gone. 813 00:37:01,360 --> 00:37:04,600 Speaker 2: Oversight of debt collectors and payday lenders no more, an 814 00:37:04,600 --> 00:37:07,880 Speaker 2: honest site to compare credit card products likely gone. In 815 00:37:07,920 --> 00:37:10,800 Speaker 2: twenty twenty three, CFPB said big banks can't charge junk 816 00:37:10,800 --> 00:37:13,200 Speaker 2: fees for basic customer service, things like being able to 817 00:37:13,239 --> 00:37:16,200 Speaker 2: check your money in your own account. The reason isn't 818 00:37:16,280 --> 00:37:18,200 Speaker 2: just that it's nice, but the big banks themselves weren't 819 00:37:18,239 --> 00:37:21,600 Speaker 2: unable to offer basic information like who owned mortgages prior 820 00:37:21,640 --> 00:37:22,400 Speaker 2: to two thousand and eight. 821 00:37:22,480 --> 00:37:23,160 Speaker 4: That's gone too. 822 00:37:23,400 --> 00:37:26,080 Speaker 2: Another rule put forward recently is the mortgage servicers can't 823 00:37:26,080 --> 00:37:29,200 Speaker 2: garner excessive fees when they foreclose, which is an incentive 824 00:37:29,200 --> 00:37:31,399 Speaker 2: to foreclosed rather than working out loans. 825 00:37:31,480 --> 00:37:33,200 Speaker 4: So all of that is going to be gone. 826 00:37:33,719 --> 00:37:36,440 Speaker 2: Anybody who's had an issue with their bank, or with 827 00:37:37,280 --> 00:37:42,640 Speaker 2: crypto coinbase, whoever you can go to. You used to 828 00:37:42,719 --> 00:37:45,440 Speaker 2: be able to file complaint with the Consumer Financial Protection 829 00:37:45,520 --> 00:37:48,120 Speaker 2: Bureau and oftentimes they would handle it and you would 830 00:37:48,160 --> 00:37:50,680 Speaker 2: get your money returned to you. Actually, Kyle was a 831 00:37:50,719 --> 00:37:54,680 Speaker 2: victim to you know, sort of scam run by his bank, 832 00:37:54,960 --> 00:37:57,799 Speaker 2: and he didn't even file a complaint or anything, and 833 00:37:57,960 --> 00:37:59,799 Speaker 2: they just reached out and said, hey, you were victim 834 00:37:59,840 --> 00:38:01,839 Speaker 2: of the scam. Here's some money back to repay you 835 00:38:02,200 --> 00:38:05,600 Speaker 2: for what happened here. So that's what this agency is. 836 00:38:06,600 --> 00:38:10,239 Speaker 2: It's no accident that Mark Andriesen and Mark Zuckerberg both 837 00:38:10,280 --> 00:38:13,480 Speaker 2: go on Joe Rogan's podcast and they frame their opposite. 838 00:38:13,560 --> 00:38:15,719 Speaker 2: First of all, they just lie about what CFPB does 839 00:38:15,800 --> 00:38:19,000 Speaker 2: D banking. Conservatives like quite the opposite. Roju Chopra, the 840 00:38:19,040 --> 00:38:22,800 Speaker 2: previous director of the CFPP, was opposed to d banking 841 00:38:22,840 --> 00:38:26,719 Speaker 2: based on political reasons. He took heat from liberals for 842 00:38:27,040 --> 00:38:29,719 Speaker 2: staking out that position, so it was quite the contrary. 843 00:38:30,600 --> 00:38:33,080 Speaker 2: Zuckerberg tried to claim that like, oh, they went after 844 00:38:33,120 --> 00:38:36,160 Speaker 2: me from the CFPB because of my bucking them on 845 00:38:36,239 --> 00:38:39,560 Speaker 2: COVID censorship. Also, you know, completely made up fiction. But 846 00:38:39,600 --> 00:38:42,520 Speaker 2: they tried to cloak their opposition to CFPB in these 847 00:38:43,080 --> 00:38:48,759 Speaker 2: conservative cultural critiques because they knew that the argument of like, well, 848 00:38:48,760 --> 00:38:51,640 Speaker 2: they just don't really want to be regulated was not 849 00:38:51,840 --> 00:38:52,560 Speaker 2: going to fly. 850 00:38:53,360 --> 00:38:53,600 Speaker 4: Now. 851 00:38:53,719 --> 00:38:58,600 Speaker 2: Elon has a particular interest in the Consumer Financial Protection Bureau, 852 00:38:58,719 --> 00:39:01,960 Speaker 2: which is what Soccer was alluding to. So Elon wants 853 00:39:01,960 --> 00:39:04,320 Speaker 2: Twitter to be the everything app. He just struck a 854 00:39:04,360 --> 00:39:09,399 Speaker 2: deal actually with Visa to incorporate payment processing, and that 855 00:39:09,680 --> 00:39:12,759 Speaker 2: would have meant that the CFPB was very likely to 856 00:39:13,080 --> 00:39:15,680 Speaker 2: you know, designate him as I think they call it, 857 00:39:15,719 --> 00:39:18,120 Speaker 2: like a larger payment provider something like that, and he 858 00:39:18,160 --> 00:39:20,279 Speaker 2: would have been subject to these regulations. 859 00:39:20,360 --> 00:39:22,560 Speaker 4: So he specifically has. 860 00:39:22,400 --> 00:39:26,560 Speaker 2: A personal financial interest and goal that he wants to 861 00:39:26,600 --> 00:39:31,000 Speaker 2: accomplish in gutting the CFPB, and so that is what 862 00:39:31,040 --> 00:39:32,040 Speaker 2: is now being accomplished. 863 00:39:32,120 --> 00:39:33,640 Speaker 4: The budget has been zeroed out. 864 00:39:34,680 --> 00:39:36,960 Speaker 2: Now russ Vote does point out they do have a 865 00:39:37,280 --> 00:39:40,879 Speaker 2: like fairly decent reserve and the budget is not all 866 00:39:40,960 --> 00:39:43,040 Speaker 2: that big to start with, so you know they have 867 00:39:43,120 --> 00:39:44,960 Speaker 2: the funds to be able to operate for a time. 868 00:39:45,280 --> 00:39:47,680 Speaker 2: But the staff has been told to stay home. This 869 00:39:47,719 --> 00:39:49,880 Speaker 2: is subject now also to a lawsuit by the union 870 00:39:49,920 --> 00:39:54,600 Speaker 2: representing the workers at the CFPB. And most importantly russ 871 00:39:54,640 --> 00:39:58,280 Speaker 2: Vote has said any investigations you're doing, any enforcement, any 872 00:39:58,280 --> 00:40:01,360 Speaker 2: new rule making, like basically whatever you were doing to 873 00:40:01,480 --> 00:40:04,080 Speaker 2: try to check and keep financial fraud and scams and check, 874 00:40:04,560 --> 00:40:06,960 Speaker 2: you need to stop doing that. So all of that 875 00:40:07,000 --> 00:40:13,080 Speaker 2: activity is effectively halted. Elon himself tweeted out rip CFPB, 876 00:40:13,640 --> 00:40:15,800 Speaker 2: and it was kind of interesting the response. So you 877 00:40:15,840 --> 00:40:18,759 Speaker 2: can see Elon there at the top saying that, and 878 00:40:18,960 --> 00:40:22,120 Speaker 2: some of his reply guys who are normally on board 879 00:40:22,120 --> 00:40:24,200 Speaker 2: with what he was doing, were like, but wait a second, 880 00:40:24,280 --> 00:40:25,760 Speaker 2: I actually kind of like this agency. 881 00:40:25,840 --> 00:40:27,560 Speaker 3: So shout out to Nuance bro. He loves the show, 882 00:40:27,560 --> 00:40:29,040 Speaker 3: by the way, he watches every episod. 883 00:40:29,040 --> 00:40:30,520 Speaker 4: So he says, what's wrong with the CFPB? 884 00:40:30,640 --> 00:40:34,240 Speaker 2: They actually got consumers wins, and he tweeted a linked 885 00:40:34,360 --> 00:40:36,239 Speaker 2: or not a link, but a screenshot because links are 886 00:40:36,320 --> 00:40:38,719 Speaker 2: highly discouraged on Twitter. CFB announces a return of one 887 00:40:38,760 --> 00:40:41,319 Speaker 2: point eight billion dollars in illegal junk fees to four 888 00:40:41,360 --> 00:40:44,520 Speaker 2: point three million Americans harmed in a massive credit repair scheme. 889 00:40:45,200 --> 00:40:47,080 Speaker 2: Another person and I saw this one shared a lot, 890 00:40:47,120 --> 00:40:50,480 Speaker 2: says what is the deal with the CCFPB. I'm genuinely curious, Elon, 891 00:40:50,520 --> 00:40:52,600 Speaker 2: as a normal guy, can you please respond and tell me? 892 00:40:52,640 --> 00:40:54,120 Speaker 4: I assumed it was creative for our protection. 893 00:40:54,239 --> 00:40:56,360 Speaker 2: I've used the CFPB after my bank was giving me 894 00:40:56,400 --> 00:40:58,320 Speaker 2: the run around. I had a bunch of fraud charges 895 00:40:58,320 --> 00:41:00,200 Speaker 2: they wouldn't refund me after telling me they found them 896 00:41:00,200 --> 00:41:02,759 Speaker 2: as fraudulent. Within a week, I had my money back. 897 00:41:02,800 --> 00:41:05,640 Speaker 2: So explain to me how this doesn't benefit us as 898 00:41:05,680 --> 00:41:08,640 Speaker 2: American citizens. This one just really baffles me, and I'd 899 00:41:08,680 --> 00:41:13,040 Speaker 2: love an actual explanation. So the you know, people were 900 00:41:13,040 --> 00:41:15,399 Speaker 2: not fully on board with this. Another person said, yeat, 901 00:41:15,480 --> 00:41:17,480 Speaker 2: not on board with this one unless you bring some 902 00:41:17,520 --> 00:41:21,080 Speaker 2: pretty damning evidence as to why. So there you go 903 00:41:21,160 --> 00:41:23,360 Speaker 2: some of the pushback there. Do consumers not need to 904 00:41:23,400 --> 00:41:24,359 Speaker 2: be protected? Question mark? 905 00:41:24,520 --> 00:41:28,480 Speaker 3: Yes, so, I mean, look for those who are shocked 906 00:41:28,520 --> 00:41:31,600 Speaker 3: by this, sorry, like you're an idiot. I don't want 907 00:41:31,640 --> 00:41:35,319 Speaker 3: to be to voter shaming and all this, but there 908 00:41:35,440 --> 00:41:38,400 Speaker 3: is an element where some people pretend to be surprised 909 00:41:38,400 --> 00:41:39,239 Speaker 3: by some of the moves of the. 910 00:41:39,200 --> 00:41:41,520 Speaker 1: Trumpetman, like were you not paying attention? Dude? Like were 911 00:41:41,520 --> 00:41:43,840 Speaker 1: you just not like did you not have your eyes open? 912 00:41:44,760 --> 00:41:47,520 Speaker 1: It gets I get annoyed. I mean pretty clear what 913 00:41:47,600 --> 00:41:48,280 Speaker 1: was going to happen? 914 00:41:49,000 --> 00:41:51,799 Speaker 2: I would say, yes, yeah, but I mean there were 915 00:41:52,080 --> 00:41:54,800 Speaker 2: there are a lot of things happening, like, for example, taking. 916 00:41:54,600 --> 00:41:58,360 Speaker 1: Over Gaza that were not enough crazy about. 917 00:41:58,200 --> 00:42:00,920 Speaker 2: It, taking over Canada Panela, like none of these things 918 00:42:00,920 --> 00:42:04,680 Speaker 2: were actually run on. So I have shared the same 919 00:42:04,719 --> 00:42:06,800 Speaker 2: sentiment in some regards of like, well, what did you 920 00:42:06,840 --> 00:42:08,680 Speaker 2: think was going to happen? That this is literally what 921 00:42:08,719 --> 00:42:11,360 Speaker 2: he ran on. But you know, it's not like Trump 922 00:42:11,400 --> 00:42:13,640 Speaker 2: was going around at rallies like and we're gonna get 923 00:42:13,719 --> 00:42:16,440 Speaker 2: rid of the protections for consumers and allow banks to 924 00:42:16,480 --> 00:42:20,160 Speaker 2: scam you. So people put a lot of trust anyone, 925 00:42:20,200 --> 00:42:21,719 Speaker 2: Like a lot of these guys think this guy is 926 00:42:21,760 --> 00:42:24,439 Speaker 2: really great and brilliant, you know, have deluded themselves into 927 00:42:24,480 --> 00:42:26,239 Speaker 2: thinking that the richest man on the planet is really 928 00:42:26,239 --> 00:42:28,520 Speaker 2: looking out for their interests rather than his own interests. 929 00:42:28,600 --> 00:42:32,080 Speaker 4: And he's not. He's looking out for his own interests. 930 00:42:32,160 --> 00:42:32,399 Speaker 1: Yeah. 931 00:42:32,440 --> 00:42:34,920 Speaker 3: Well, I meant as a certain point too, with these 932 00:42:34,960 --> 00:42:36,880 Speaker 3: tech guys, it's like they were pretty naked about what 933 00:42:36,920 --> 00:42:38,440 Speaker 3: they wanted the whole time. I could have told you 934 00:42:38,480 --> 00:42:41,480 Speaker 3: literally eight months ago exactly what all three of these agencies. 935 00:42:41,640 --> 00:42:43,359 Speaker 3: All you have to do is read the news for 936 00:42:43,400 --> 00:42:46,440 Speaker 3: any of this. And as I said previously, but Crypto 937 00:42:46,520 --> 00:42:48,319 Speaker 3: in particular, being very happy about this, put this up 938 00:42:48,320 --> 00:42:51,120 Speaker 3: there on the screen. Brian Armstrong, CEO of coinbased, as 939 00:42:51,160 --> 00:42:54,080 Speaker 3: one hundred percent the right call CFPB is unconstitutional on 940 00:42:54,080 --> 00:42:55,760 Speaker 3: the face of it. Even if it wasn't, it should 941 00:42:55,760 --> 00:42:58,640 Speaker 3: be deleted as we already have a DJDJ to prosecute 942 00:42:58,640 --> 00:43:01,400 Speaker 3: fraud and many other fine answer services regulators. It's an 943 00:43:01,400 --> 00:43:04,640 Speaker 3: activist organization that has done enormous harm to the country. 944 00:43:04,680 --> 00:43:05,879 Speaker 1: He got community noted there. 945 00:43:05,920 --> 00:43:08,880 Speaker 3: You can decide for yourself whether it's would decide for 946 00:43:08,920 --> 00:43:11,160 Speaker 3: yourself if that indicates a vibe on the platform. 947 00:43:11,160 --> 00:43:13,680 Speaker 1: The community note was what you said, Justice. 948 00:43:13,440 --> 00:43:16,880 Speaker 3: Thomas righty for the majority that it is constitutional. I 949 00:43:17,600 --> 00:43:19,720 Speaker 3: this is the type of thing from Trump and others 950 00:43:19,760 --> 00:43:22,160 Speaker 3: that makes me sad because it relates to what we 951 00:43:22,160 --> 00:43:24,920 Speaker 3: were just talking about, yeah, with virgin and you were like, oh, 952 00:43:24,960 --> 00:43:27,840 Speaker 3: but these Virginas. I'm like, look, I see no evidence 953 00:43:28,040 --> 00:43:33,280 Speaker 3: that you know, scamming people, taking away their money, cutting 954 00:43:33,280 --> 00:43:36,279 Speaker 3: programs or any of that when you're inside of the 955 00:43:36,280 --> 00:43:39,680 Speaker 3: bubble has any effect on voter behavior. I wish it 956 00:43:39,719 --> 00:43:42,560 Speaker 3: were otherwise, but I don't see any political evidence for it. 957 00:43:42,640 --> 00:43:45,160 Speaker 1: Well until I think people want to be scammed. I'm 958 00:43:45,160 --> 00:43:45,800 Speaker 1: being serious. 959 00:43:45,840 --> 00:43:48,840 Speaker 3: Like this Dave Portnoy thing you sent that video remember 960 00:43:48,880 --> 00:43:51,520 Speaker 3: of him talking about the pump and Dump shitcoin and 961 00:43:51,520 --> 00:43:54,439 Speaker 3: how enamored he's obviously is with the Trump meme coin 962 00:43:54,480 --> 00:43:57,400 Speaker 3: and all that, and how there's zero outrage from most 963 00:43:57,440 --> 00:44:00,520 Speaker 3: people on the right who talk about corruption and all that, 964 00:44:01,160 --> 00:44:03,680 Speaker 3: But look at the voters, the voters, and then the 965 00:44:03,719 --> 00:44:09,120 Speaker 3: people who support Trump they like it. I'm mystified by 966 00:44:09,200 --> 00:44:13,520 Speaker 3: the way that people can twist themselves into knots to 967 00:44:13,680 --> 00:44:15,480 Speaker 3: just say like, oh, this is total or just have 968 00:44:15,640 --> 00:44:18,879 Speaker 3: like blind amnesia around these because it's not just partisanship, 969 00:44:19,080 --> 00:44:22,160 Speaker 3: it's not about elites, it's about the actual voters themselves. 970 00:44:22,480 --> 00:44:24,640 Speaker 3: If you ask them about any of these Trump things, 971 00:44:24,800 --> 00:44:28,800 Speaker 3: they feel, no, they're not angry. They'll find an excuse, 972 00:44:29,160 --> 00:44:30,879 Speaker 3: they don't care, or they'll say that you're. 973 00:44:30,840 --> 00:44:33,960 Speaker 1: Lying to them. And I just don't know what to say. 974 00:44:34,120 --> 00:44:36,280 Speaker 3: At a certain point, like the CPPB thing, I predict 975 00:44:36,360 --> 00:44:40,320 Speaker 3: not one iota of pushback, not one iota from Republican voters. 976 00:44:40,680 --> 00:44:41,719 Speaker 1: So I mean, what's the point? 977 00:44:41,800 --> 00:44:42,080 Speaker 4: Agree? 978 00:44:42,480 --> 00:44:46,960 Speaker 2: Agree, but yeah, but the point is the substance of 979 00:44:47,000 --> 00:44:49,360 Speaker 2: what it actually the fact that getting rid of this 980 00:44:49,480 --> 00:44:54,360 Speaker 2: agency makes people's lives worse, makes them more open to fraud. 981 00:44:54,400 --> 00:44:58,040 Speaker 2: And Stiller makes this point, it's not like so previously, 982 00:44:58,400 --> 00:45:02,280 Speaker 2: It's not like there weren't laws against before the financial crash, 983 00:45:02,480 --> 00:45:06,359 Speaker 2: but the prioritization of that was very low, with these 984 00:45:06,440 --> 00:45:09,520 Speaker 2: various agencies that were tasked with enforcing it, and so 985 00:45:09,600 --> 00:45:11,759 Speaker 2: the idea behind this agency is that, okay, we're going 986 00:45:11,800 --> 00:45:13,920 Speaker 2: to put it under one agency where it's really like 987 00:45:13,960 --> 00:45:17,280 Speaker 2: their number one priority is going to be looking out 988 00:45:17,320 --> 00:45:20,480 Speaker 2: for the little guy, making sure that if they are scammed, 989 00:45:20,520 --> 00:45:23,680 Speaker 2: that they are repaid, that there's some fines levied like that. 990 00:45:23,840 --> 00:45:25,960 Speaker 2: This is our top priority and our focus. So it's 991 00:45:26,000 --> 00:45:27,840 Speaker 2: going to be important. So now all of that function 992 00:45:27,920 --> 00:45:30,560 Speaker 2: is consolidated here, so when you get rid of that 993 00:45:31,280 --> 00:45:36,799 Speaker 2: enforcement from this agency, it no longer exists in these 994 00:45:36,800 --> 00:45:37,239 Speaker 2: other places. 995 00:45:37,280 --> 00:45:38,280 Speaker 4: So it's just gone. 996 00:45:38,440 --> 00:45:41,400 Speaker 2: So you're actually in a worse place than you were 997 00:45:41,800 --> 00:45:45,880 Speaker 2: before the financial crash with regard to you know, enforcement 998 00:45:45,920 --> 00:45:47,040 Speaker 2: of these particular things. 999 00:45:47,080 --> 00:45:48,960 Speaker 4: So you're going to see, you know, a. 1000 00:45:48,960 --> 00:45:54,200 Speaker 2: Flourishing of scams and fraud perpetrated on people because there 1001 00:45:54,280 --> 00:45:56,160 Speaker 2: is no one why, Like it's not even the fox 1002 00:45:56,200 --> 00:45:57,840 Speaker 2: guard in the head now there's just no one guarding 1003 00:45:57,840 --> 00:45:58,400 Speaker 2: the hen house. 1004 00:45:58,760 --> 00:46:00,960 Speaker 4: Now there's there's nothing there. 1005 00:46:01,440 --> 00:46:04,040 Speaker 2: And the other thing that he points out, which is 1006 00:46:04,080 --> 00:46:08,120 Speaker 2: relevant to your point is like, you know, when Glass Eeagle, 1007 00:46:08,239 --> 00:46:12,240 Speaker 2: which separated out, you know, kept the investing in financial 1008 00:46:12,239 --> 00:46:15,120 Speaker 2: speculation part of banking separate from like the main like 1009 00:46:15,200 --> 00:46:18,120 Speaker 2: customer focused. Okay, we make a deposit type of banking. 1010 00:46:18,640 --> 00:46:21,680 Speaker 2: When Glass Eagle was ended, No, there wasn't a huge 1011 00:46:21,719 --> 00:46:22,840 Speaker 2: like public. 1012 00:46:22,600 --> 00:46:24,000 Speaker 4: Backlash to that. 1013 00:46:24,560 --> 00:46:28,560 Speaker 2: But that action directly, along with other things, leads to 1014 00:46:29,160 --> 00:46:33,840 Speaker 2: a massive financial catastrophe. So it has a huge impact 1015 00:46:34,200 --> 00:46:38,400 Speaker 2: outside of what the you know, initial public response was, 1016 00:46:38,440 --> 00:46:40,520 Speaker 2: and of course ultimately there was a huge I mean, 1017 00:46:40,520 --> 00:46:43,080 Speaker 2: this was one of the seminal events in terms of 1018 00:46:43,120 --> 00:46:46,680 Speaker 2: our lifetimes that helped to shape these you know, this 1019 00:46:46,920 --> 00:46:50,279 Speaker 2: populist right and populist left movements and all of the 1020 00:46:50,320 --> 00:46:52,600 Speaker 2: anger in the country. I mean, this is still reverberating 1021 00:46:52,640 --> 00:46:57,680 Speaker 2: to this day. So I think there is very likely 1022 00:46:57,760 --> 00:47:01,759 Speaker 2: to be significant fallout. And you know, I'll just one 1023 00:47:01,760 --> 00:47:04,239 Speaker 2: more quote from Stoler, because he really, you know, he 1024 00:47:04,280 --> 00:47:06,880 Speaker 2: focuses on this, and I think he put it quite well. 1025 00:47:07,400 --> 00:47:10,279 Speaker 2: He says he sees destroying the bureau as a strategic 1026 00:47:10,360 --> 00:47:12,799 Speaker 2: error for the banking sector in big tech. He says, 1027 00:47:12,800 --> 00:47:14,759 Speaker 2: the banks were already losing to Silicon Valley. Now they're 1028 00:47:14,760 --> 00:47:17,680 Speaker 2: at a regulatory disadvantage to boot. More fundamentally, the shutdown 1029 00:47:17,719 --> 00:47:20,120 Speaker 2: breaks a basic deal. He says he worked in the 1030 00:47:20,120 --> 00:47:22,520 Speaker 2: House during the Great Financial Crisis. The arrangement was the 1031 00:47:22,520 --> 00:47:26,880 Speaker 2: banks would accept some mild oversight via the CFPB, and 1032 00:47:26,920 --> 00:47:29,239 Speaker 2: in return they'd get a multi trillion dollar ballon and 1033 00:47:29,239 --> 00:47:31,960 Speaker 2: make excessive profits. I didn't like that deal, encourage the 1034 00:47:32,000 --> 00:47:33,279 Speaker 2: member I worked for a to vote against it, but 1035 00:47:33,320 --> 00:47:35,920 Speaker 2: it was forced on liberals by Barack Obama. It was 1036 00:47:35,920 --> 00:47:38,799 Speaker 2: an egregiously terrible choice, one that liberals couldn't acknowledge because 1037 00:47:38,800 --> 00:47:41,640 Speaker 2: then they'd have to admit a whole lot of uncomfortable truths, 1038 00:47:41,840 --> 00:47:44,719 Speaker 2: notably that Wall Street is a malevolent force. But he's 1039 00:47:44,760 --> 00:47:48,440 Speaker 2: effectively saying like, now that deal is broken, like the 1040 00:47:48,520 --> 00:47:53,440 Speaker 2: minimal oversight that they accepted has been stripped away, and 1041 00:47:53,480 --> 00:47:56,200 Speaker 2: so now they can just run rampant with their you know, 1042 00:47:56,480 --> 00:47:59,719 Speaker 2: fraud of variety of kinds, including crypto fraud, et cetera. 1043 00:48:00,000 --> 00:48:02,280 Speaker 2: If you're running one of these payment processors on Twitter 1044 00:48:02,360 --> 00:48:05,319 Speaker 2: or elsewhere, now you can take people's funds that they 1045 00:48:05,760 --> 00:48:08,600 Speaker 2: deposit with you. You can do what sam bekmun Freed 1046 00:48:08,719 --> 00:48:11,120 Speaker 2: was doing and investment invest it in all kinds of 1047 00:48:11,200 --> 00:48:13,960 Speaker 2: like high risk crypto schemes. There's no cop on the 1048 00:48:13,960 --> 00:48:15,960 Speaker 2: beat to really stop you from doing any of that, 1049 00:48:16,520 --> 00:48:21,200 Speaker 2: and the potential fallout from that is truly catastrophic. It 1050 00:48:21,239 --> 00:48:23,600 Speaker 2: may not show up, you know, some small ball things 1051 00:48:23,600 --> 00:48:25,960 Speaker 2: that are really important to like the credit card late 1052 00:48:26,000 --> 00:48:28,000 Speaker 2: fees and the junk fees and those sorts of things, 1053 00:48:28,040 --> 00:48:30,400 Speaker 2: not having medical debt I'll appear on your credit reports. 1054 00:48:30,400 --> 00:48:32,279 Speaker 2: That was something the Biden administration is putting in place 1055 00:48:32,320 --> 00:48:34,720 Speaker 2: that's going to be gone now. Like there's an immediate impact, 1056 00:48:35,160 --> 00:48:39,719 Speaker 2: but the deeper, the deeper fear is what this kind 1057 00:48:39,719 --> 00:48:44,080 Speaker 2: of bubble and crash this could ultimately contribute to. And 1058 00:48:44,120 --> 00:48:46,800 Speaker 2: then you know, also with regard to Doge and Elon 1059 00:48:46,880 --> 00:48:50,560 Speaker 2: and whatever like. It's also example number one of the 1060 00:48:50,600 --> 00:48:53,600 Speaker 2: way this is not about some like populists. We're going 1061 00:48:53,680 --> 00:48:56,720 Speaker 2: to root out waste, fraud and abuse, blah blah blah. 1062 00:48:56,880 --> 00:48:59,560 Speaker 2: The CFPB is proof positive that this is about them 1063 00:48:59,600 --> 00:49:03,440 Speaker 2: can sellleating power and organizing the government in a way 1064 00:49:03,480 --> 00:49:05,600 Speaker 2: that is going to be friendly to them their fronts 1065 00:49:05,640 --> 00:49:07,480 Speaker 2: and their interests and not necessarily you. 1066 00:49:07,640 --> 00:49:09,520 Speaker 3: But there's some good lessons there for the left there 1067 00:49:09,520 --> 00:49:12,960 Speaker 3: in terms of technocratic neoliberalism and that you know that 1068 00:49:13,520 --> 00:49:16,200 Speaker 3: Devil's Bargain that was made in two thousand and eight 1069 00:49:16,280 --> 00:49:19,080 Speaker 3: that led to the fallout the breakup of the Democratic 1070 00:49:19,120 --> 00:49:21,120 Speaker 3: Coalition and of the rise of the Trump movement, and 1071 00:49:21,200 --> 00:49:24,160 Speaker 3: obviously is now popular vote election, which is trying to 1072 00:49:24,200 --> 00:49:28,080 Speaker 3: put I'm also honestly skeptical of Stolar's analysis. I'm not 1073 00:49:28,280 --> 00:49:30,600 Speaker 3: so sure that it leads to the Democrats being like, 1074 00:49:30,600 --> 00:49:33,359 Speaker 3: we're never going to give you CFPB again because we're 1075 00:49:33,360 --> 00:49:35,319 Speaker 3: about to talk with Hakim Jeffries and all that are 1076 00:49:35,320 --> 00:49:39,120 Speaker 3: about Hakim Jeffries, about how their theory of government and 1077 00:49:39,120 --> 00:49:41,279 Speaker 3: all that looks in the future. You might be right, 1078 00:49:41,920 --> 00:49:44,720 Speaker 3: but you know, it's been twelve almost twenty years since 1079 00:49:44,760 --> 00:49:48,160 Speaker 3: the financial crisis. It's been sixteen years or so seventeen 1080 00:49:48,239 --> 00:49:52,960 Speaker 3: right since the crash, and has really anything changed with 1081 00:49:53,000 --> 00:49:56,000 Speaker 3: respect to too Big to Fail? Most people either don't 1082 00:49:56,000 --> 00:49:58,920 Speaker 3: remember or you know, they don't really understand the legacy 1083 00:49:58,960 --> 00:50:00,879 Speaker 3: impact of that. So I don't just but how long 1084 00:50:00,880 --> 00:50:02,840 Speaker 3: did it take between the repeal of Glass Steagle and 1085 00:50:02,880 --> 00:50:06,759 Speaker 3: the financial crisis Glasstegle happened under the Clinton administration. I 1086 00:50:06,800 --> 00:50:10,600 Speaker 3: want to say maybe it was ninety eight. I think 1087 00:50:11,360 --> 00:50:13,200 Speaker 3: it might not be, so it took about a decade 1088 00:50:13,440 --> 00:50:19,319 Speaker 3: for something like that to materialize. Nine I apologize, So yeah, 1089 00:50:19,320 --> 00:50:21,560 Speaker 3: but it was about nine years or so for the 1090 00:50:21,560 --> 00:50:24,640 Speaker 3: global financial crisis to get kicked off in two thousand 1091 00:50:24,640 --> 00:50:27,680 Speaker 3: and eight, and if it's a similar lag. 1092 00:50:27,480 --> 00:50:30,480 Speaker 1: Time, what does politics look like in that moment. 1093 00:50:30,520 --> 00:50:33,360 Speaker 3: I genuinely have no idea, but I'm not so confident 1094 00:50:33,400 --> 00:50:36,960 Speaker 3: in the stolar analysis that some Bernie style revolution will 1095 00:50:36,960 --> 00:50:39,319 Speaker 3: happen in terms of oh, the banks, like you guys 1096 00:50:39,360 --> 00:50:41,680 Speaker 3: are never going to get your bail out again, right, 1097 00:50:41,719 --> 00:50:44,000 Speaker 3: In terms of the way that the Democratic Party is 1098 00:50:44,040 --> 00:50:46,120 Speaker 3: currently trending now. I'm not saying the Republicans are gonna better, 1099 00:50:46,120 --> 00:50:48,360 Speaker 3: I'm not saying that at all. But I'm just not 1100 00:50:48,400 --> 00:50:52,000 Speaker 3: so confident that there's this elite recognition of what has 1101 00:50:52,040 --> 00:50:54,239 Speaker 3: really happened here in terms of the failure of the 1102 00:50:54,239 --> 00:50:57,960 Speaker 3: Obama project. This is something Irami and z Jelani have 1103 00:50:58,000 --> 00:50:59,520 Speaker 3: both been talking about a lot lately. I think it's 1104 00:50:59,560 --> 00:51:00,960 Speaker 3: very interesting from their perspective. 1105 00:51:03,120 --> 00:51:05,200 Speaker 2: All Right, well, let's talk about those Democrats, shall we 1106 00:51:05,760 --> 00:51:06,640 Speaker 2: hakeem Jefferies? 1107 00:51:06,719 --> 00:51:07,440 Speaker 4: Of course is. 1108 00:51:07,800 --> 00:51:10,640 Speaker 2: I mean, they're leader lists effectively at this point. Even 1109 00:51:10,680 --> 00:51:12,040 Speaker 2: if you ask them like who's the leader of the 1110 00:51:12,080 --> 00:51:13,719 Speaker 2: Democratic Party, They'll all be like, well, I don't know, 1111 00:51:13,800 --> 00:51:16,680 Speaker 2: but hikeem Jefferies is the top Democrat in the House, 1112 00:51:17,120 --> 00:51:21,080 Speaker 2: and he was asked, you know, their phones are ringing 1113 00:51:21,080 --> 00:51:23,640 Speaker 2: off the hook with Democratic base. 1114 00:51:23,480 --> 00:51:26,480 Speaker 4: Voters who are like, what are you doing? Where is 1115 00:51:26,520 --> 00:51:27,239 Speaker 4: the resistance? 1116 00:51:27,600 --> 00:51:30,439 Speaker 2: Like there was a video that came out last week 1117 00:51:30,560 --> 00:51:32,800 Speaker 2: of all of these Democratic members of Congress going to 1118 00:51:32,800 --> 00:51:36,400 Speaker 2: the Department of Education and wanting entry. There's one dude 1119 00:51:36,440 --> 00:51:38,719 Speaker 2: standing in their way, and they're just like, oh, I 1120 00:51:38,760 --> 00:51:40,600 Speaker 2: guess we can't go in that, I mean, and so. 1121 00:51:40,760 --> 00:51:41,640 Speaker 1: What are they going to do with it? 1122 00:51:41,640 --> 00:51:45,719 Speaker 2: There's such frustration that they seem to be asleep at 1123 00:51:45,719 --> 00:51:48,600 Speaker 2: the switch. And so in any case, Hakiem Jefferies gets 1124 00:51:48,640 --> 00:51:50,799 Speaker 2: asked about this dynamic and effect was like, whoa, what 1125 00:51:50,840 --> 00:51:52,400 Speaker 2: could we really do? Let's take a listen to what 1126 00:51:52,440 --> 00:51:53,000 Speaker 2: he has to say. 1127 00:51:53,280 --> 00:51:55,960 Speaker 4: I'm trying to figure out what leverage we actually have. 1128 00:51:57,000 --> 00:51:59,400 Speaker 8: What leverage do we have the control the House to 1129 00:51:59,440 --> 00:52:02,920 Speaker 8: send it and the presidency it's their government. 1130 00:52:04,880 --> 00:52:06,000 Speaker 4: What leverage do we have? 1131 00:52:06,440 --> 00:52:08,400 Speaker 2: So there you go, what levers do we have? I mean, 1132 00:52:08,440 --> 00:52:11,360 Speaker 2: I love, I do love And I think it was 1133 00:52:11,440 --> 00:52:15,440 Speaker 2: Ken that pointed this out on Twitter. How when Democrats 1134 00:52:15,480 --> 00:52:17,759 Speaker 2: have control of the House, Senate and the presidency, it's 1135 00:52:17,800 --> 00:52:20,560 Speaker 2: like the Republicans are this immovable obstacle that they can't 1136 00:52:20,600 --> 00:52:24,239 Speaker 2: possibly get anything done. And when Republicans are in that situation, 1137 00:52:24,400 --> 00:52:26,640 Speaker 2: suddenly like oh they can just you know, run rough 1138 00:52:26,640 --> 00:52:28,200 Speaker 2: shot and do whatever they whatever they do. 1139 00:52:28,360 --> 00:52:30,600 Speaker 1: Yeah, I mean I think that they'll learn. I don't know. 1140 00:52:30,719 --> 00:52:34,320 Speaker 3: I really am still really skeptical of this Democratic resistance 1141 00:52:34,400 --> 00:52:37,280 Speaker 3: because it just feels like a very elite media project 1142 00:52:37,360 --> 00:52:40,799 Speaker 3: right now. Like it feels like the neurotic liberals who 1143 00:52:40,840 --> 00:52:44,320 Speaker 3: read the New York Times are very outraged the bureaucrats Washington. 1144 00:52:44,760 --> 00:52:47,840 Speaker 3: But they mean that's a question two of like what 1145 00:52:47,960 --> 00:52:50,879 Speaker 3: is the Democratic base? What do they actually want here? 1146 00:52:50,920 --> 00:52:54,080 Speaker 3: I mean, what would a bunch of silly Maxwell Frosts 1147 00:52:54,200 --> 00:52:56,480 Speaker 3: charging into the democratic of education do? 1148 00:52:56,719 --> 00:52:59,360 Speaker 2: I mean for great media spectacle? I mean that's the 1149 00:52:59,360 --> 00:53:02,160 Speaker 2: thing is like what only tool in lever is attention? 1150 00:53:03,000 --> 00:53:06,040 Speaker 2: That is your only tool and lever really and that 1151 00:53:06,200 --> 00:53:08,200 Speaker 2: is the failure of the Democratic Party is they do 1152 00:53:08,280 --> 00:53:13,440 Speaker 2: not understand outside of like literally AOC and Bernie, they do. 1153 00:53:13,320 --> 00:53:16,080 Speaker 4: Not understand you understand it though your style of economy. 1154 00:53:16,080 --> 00:53:18,520 Speaker 3: Oh first, is her style of politics really going to 1155 00:53:18,520 --> 00:53:20,600 Speaker 3: be like her flat? You know, going on Instagram live 1156 00:53:20,640 --> 00:53:22,799 Speaker 3: calling Elon a Nazi, Like, do we really believe that 1157 00:53:22,800 --> 00:53:24,520 Speaker 3: that's an effective political strategy. 1158 00:53:24,520 --> 00:53:26,160 Speaker 1: I don't. I think he just looks silly. Well, you 1159 00:53:26,200 --> 00:53:27,320 Speaker 1: look like a college liberal. 1160 00:53:27,400 --> 00:53:30,040 Speaker 2: Well, let me say at least she is doing something. 1161 00:53:30,120 --> 00:53:32,520 Speaker 2: But yeah, in terms of in terms of understanding the 1162 00:53:32,560 --> 00:53:35,239 Speaker 2: attention economy, yes, I think she and Bernie are kind 1163 00:53:35,239 --> 00:53:38,480 Speaker 2: of the only two that truly do. And Bernie is 1164 00:53:38,480 --> 00:53:40,720 Speaker 2: impressed the hell. I mean, his man is really old 1165 00:53:40,760 --> 00:53:43,200 Speaker 2: and he's still out there. Like with I think some 1166 00:53:43,239 --> 00:53:46,640 Speaker 2: of the best messaging coming from the Democratic Party. But yeah, 1167 00:53:46,680 --> 00:53:49,959 Speaker 2: that's your only real lever and protests. And I would 1168 00:53:50,000 --> 00:53:52,120 Speaker 2: just say, like I had all kinds of problems with 1169 00:53:52,200 --> 00:53:56,719 Speaker 2: the flavor of the Democratic resistance back in twenty sixteen. 1170 00:53:57,080 --> 00:53:58,800 Speaker 2: You know, I Russia Gate, I was a critic of 1171 00:53:58,840 --> 00:54:02,640 Speaker 2: et cetera, et cetera. But ultimately, in some ways it 1172 00:54:02,640 --> 00:54:06,480 Speaker 2: did work. They we were talking about Trump's approval rating. 1173 00:54:07,160 --> 00:54:09,880 Speaker 2: They were able to keep his approval ratings suppressed and 1174 00:54:09,960 --> 00:54:13,359 Speaker 2: under a majority of the entire time, they did very 1175 00:54:13,360 --> 00:54:17,080 Speaker 2: well in the midterms. He lost in twenty twenty. So 1176 00:54:17,320 --> 00:54:22,280 Speaker 2: there's been this among elite elected Democrats. There's this assumption 1177 00:54:22,360 --> 00:54:24,520 Speaker 2: of like, oh, well, we you know, we try this 1178 00:54:24,760 --> 00:54:28,680 Speaker 2: like all all in Trump resistance, and it didn't work, 1179 00:54:28,760 --> 00:54:32,239 Speaker 2: and it's like, well, but doing at least it did 1180 00:54:32,320 --> 00:54:36,759 Speaker 2: do something like clearly just sitting back and letting it 1181 00:54:36,800 --> 00:54:38,440 Speaker 2: all unfold. And I think one of them said, like 1182 00:54:38,520 --> 00:54:41,760 Speaker 2: letting him punch himself out is not going to do anything, 1183 00:54:41,800 --> 00:54:42,840 Speaker 2: and I think is foolish. 1184 00:54:43,120 --> 00:54:45,520 Speaker 4: So I think that there's two problems. 1185 00:54:46,480 --> 00:54:48,920 Speaker 2: One of them is they don't understand the attention economy 1186 00:54:48,960 --> 00:54:51,319 Speaker 2: and how that is your major lever for pushback and 1187 00:54:51,600 --> 00:54:55,320 Speaker 2: generating doing what you can to contribute to a genuine 1188 00:54:55,360 --> 00:54:59,560 Speaker 2: grossroots revolt, which again there is there is something happening 1189 00:54:59,600 --> 00:55:02,040 Speaker 2: here because because the level of calls that they're getting 1190 00:55:02,040 --> 00:55:05,000 Speaker 2: at the Senate sixteen hundred a minute is off the 1191 00:55:05,080 --> 00:55:10,400 Speaker 2: charts normally democratic like the you know, local Democratic voters 1192 00:55:10,440 --> 00:55:13,400 Speaker 2: are disgusted with the party and the fact and that 1193 00:55:13,560 --> 00:55:16,040 Speaker 2: is very different. You know, these people were like heroes 1194 00:55:16,080 --> 00:55:19,080 Speaker 2: to them previously am mis NBC was heroic to them, 1195 00:55:19,080 --> 00:55:22,040 Speaker 2: et cetera. That is all broken and gone. So in 1196 00:55:22,080 --> 00:55:24,480 Speaker 2: any case, that is the best thing that they have 1197 00:55:24,520 --> 00:55:26,600 Speaker 2: available to them. But the other problem, which gets to 1198 00:55:26,719 --> 00:55:28,719 Speaker 2: the political chair sheet that we can put up on 1199 00:55:28,760 --> 00:55:31,920 Speaker 2: the screen is that, you know, really, what they need 1200 00:55:31,960 --> 00:55:34,640 Speaker 2: to do is make an argument against oligarchy, make an 1201 00:55:34,719 --> 00:55:39,240 Speaker 2: argument against an Elon Musk and his billionaire buddies running 1202 00:55:39,280 --> 00:55:42,640 Speaker 2: the government. And that is going to require a choosing 1203 00:55:43,080 --> 00:55:45,279 Speaker 2: a true like which side are you on kind of 1204 00:55:45,320 --> 00:55:49,520 Speaker 2: a moment. And you have leaders in the Democratic Party 1205 00:55:49,520 --> 00:55:53,440 Speaker 2: like Haheen Jeffries, who instead is trying to go to 1206 00:55:53,560 --> 00:55:57,719 Speaker 2: Silicon Valley and mend fences with the billionaires who happen 1207 00:55:57,800 --> 00:55:59,800 Speaker 2: to be and not the one hundred million, the mere hundred 1208 00:55:59,800 --> 00:56:03,960 Speaker 2: millionionaires that happened to be on the Democratic side of 1209 00:56:04,080 --> 00:56:07,120 Speaker 2: the ledger. So he met quietly, they say, with more 1210 00:56:07,120 --> 00:56:09,239 Speaker 2: than one hundred and fifty Silicon Valley based donors. Last 1211 00:56:09,239 --> 00:56:11,960 Speaker 2: week in California early step in Democrats' efforts to repair 1212 00:56:12,000 --> 00:56:15,400 Speaker 2: relationships with a once deep blue constituency. 1213 00:56:15,680 --> 00:56:17,040 Speaker 4: The meet and greet in. 1214 00:56:17,080 --> 00:56:19,759 Speaker 2: Tony Los Aalto's Hills comes at a precarious moment for 1215 00:56:19,800 --> 00:56:21,839 Speaker 2: Democrats in the tech world, which is lurch right word 1216 00:56:21,840 --> 00:56:25,239 Speaker 2: in the second Trump era, world's wealthiest tech mogul is 1217 00:56:25,360 --> 00:56:28,520 Speaker 2: upending Washington. Democratic leaders are facing criticism from their own 1218 00:56:28,560 --> 00:56:30,880 Speaker 2: base for their halting response. Jeffreys, meanwhile, was on the 1219 00:56:30,880 --> 00:56:34,960 Speaker 2: West coast, seemingly trying to avoid the next Elon Musk. 1220 00:56:35,440 --> 00:56:37,520 Speaker 2: Let's put this next quote up on the screen. This 1221 00:56:37,560 --> 00:56:39,960 Speaker 2: is kind of like the money quote, so to speak. 1222 00:56:40,800 --> 00:56:44,160 Speaker 2: So he says, there's significant fear that these tech folks 1223 00:56:44,160 --> 00:56:46,080 Speaker 2: who've been with us for a long time will say, effort, 1224 00:56:46,120 --> 00:56:48,200 Speaker 2: we're going with the other guys that a major Democratic 1225 00:56:48,239 --> 00:56:52,279 Speaker 2: donor advisor. These donors are also pissed watching former and 1226 00:56:52,360 --> 00:56:56,440 Speaker 2: current colleagues have unlimited, unchecked power and getting richer off 1227 00:56:56,480 --> 00:56:59,720 Speaker 2: of this, and they're not Democrats are trying to mend senses, 1228 00:56:59,719 --> 00:57:02,040 Speaker 2: and they're also trying to keep them in the tent. 1229 00:57:02,760 --> 00:57:06,799 Speaker 2: According to this individual, so you know, let's go ahead. 1230 00:57:06,840 --> 00:57:09,560 Speaker 2: Actually to the Nate Silver piece, because I thought he 1231 00:57:09,640 --> 00:57:11,440 Speaker 2: broke this as a D four. He actually broke this 1232 00:57:11,520 --> 00:57:16,160 Speaker 2: down pretty well. It's like, you they need a billionaire strategy. 1233 00:57:16,200 --> 00:57:18,720 Speaker 2: You could be pro capitalism or anti oligarch, but middle 1234 00:57:18,760 --> 00:57:21,440 Speaker 2: ground won't persuade voters. And the middle ground is kind 1235 00:57:21,440 --> 00:57:24,520 Speaker 2: of where the Biden administration was because they did things 1236 00:57:24,520 --> 00:57:28,160 Speaker 2: that were genuinely adversarial that this class of people hated, 1237 00:57:28,440 --> 00:57:31,280 Speaker 2: and the Wall Street people hated and were pissed off 1238 00:57:31,320 --> 00:57:34,040 Speaker 2: of the anti trust stuff was really adversarial. It was 1239 00:57:34,320 --> 00:57:39,360 Speaker 2: very unpopular among wealthy people. The aggressive enforcement at the CFPB, 1240 00:57:39,600 --> 00:57:42,920 Speaker 2: aggressive enforcement at the National Labor Relations Board, all of 1241 00:57:42,960 --> 00:57:48,960 Speaker 2: these things were deeply unpopular with billionaires. But rather than 1242 00:57:49,000 --> 00:57:51,480 Speaker 2: doing the FDR like and I welcome their hatred and 1243 00:57:51,560 --> 00:57:54,680 Speaker 2: embracing that as your identity is, like we're going after 1244 00:57:54,720 --> 00:57:57,720 Speaker 2: these guys, they tried to do like what Hakeem Jeffreys 1245 00:57:57,800 --> 00:58:00,320 Speaker 2: is doing here, like wow, we really we still like you, 1246 00:58:00,480 --> 00:58:02,120 Speaker 2: still want you in the tent. We're going to do 1247 00:58:02,160 --> 00:58:04,520 Speaker 2: these various cultural things that maybe you like, et. 1248 00:58:04,480 --> 00:58:07,680 Speaker 4: Cetera, et cetera. And that approach is not going to work. 1249 00:58:08,080 --> 00:58:11,600 Speaker 2: So Nate Silver is one hundred percent right that this 1250 00:58:11,720 --> 00:58:14,760 Speaker 2: middle ground of what he described separating the world into 1251 00:58:14,840 --> 00:58:17,880 Speaker 2: naughty and nice billionaires, which is what the new chair 1252 00:58:17,920 --> 00:58:20,760 Speaker 2: of the Democratic National Committee, which he floated as the 1253 00:58:20,760 --> 00:58:22,200 Speaker 2: appropriate approach here. 1254 00:58:22,400 --> 00:58:23,480 Speaker 4: That is not going to cut it. 1255 00:58:23,760 --> 00:58:27,479 Speaker 2: And if you're actually going to push back against this 1256 00:58:27,800 --> 00:58:31,600 Speaker 2: movement and the elon takeover and trump Ism in general, 1257 00:58:32,400 --> 00:58:33,439 Speaker 2: you are going to. 1258 00:58:33,440 --> 00:58:35,840 Speaker 4: Have to make a choice. 1259 00:58:35,920 --> 00:58:39,000 Speaker 2: You are going to have to either basically capitulate to 1260 00:58:39,040 --> 00:58:42,640 Speaker 2: that or you're going to have to burn some bridges. 1261 00:58:42,720 --> 00:58:45,160 Speaker 2: With the donor class, and they do not seem ready 1262 00:58:45,200 --> 00:58:46,040 Speaker 2: to make that choice. 1263 00:58:46,080 --> 00:58:47,680 Speaker 1: Well, I don't think it's structurally possible. 1264 00:58:47,800 --> 00:58:51,440 Speaker 3: The Democratic Party is the party of elite, white educated 1265 00:58:51,600 --> 00:58:53,520 Speaker 3: liberals and elderly black people. 1266 00:58:53,720 --> 00:58:54,800 Speaker 1: Like that's basically it. 1267 00:58:55,000 --> 00:58:58,240 Speaker 3: So okay, So if we look at the elite white 1268 00:58:58,360 --> 00:59:04,320 Speaker 3: educated liberals, these are Nimbi style process elite institution worshiping, 1269 00:59:04,760 --> 00:59:09,120 Speaker 3: neurotic master's degree holders who make approximately two to three 1270 00:59:09,160 --> 00:59:13,160 Speaker 3: hundred thousand dollars per year. They love like Reid Hoffman 1271 00:59:13,200 --> 00:59:15,080 Speaker 3: and all these other people. They to the extent they 1272 00:59:15,080 --> 00:59:17,600 Speaker 3: hate Elon it's because of I don't even know it's 1273 00:59:17,640 --> 00:59:19,520 Speaker 3: not because of CFPP, should we put it that way. 1274 00:59:19,640 --> 00:59:21,480 Speaker 3: They hate him for being like a trader to their 1275 00:59:21,480 --> 00:59:25,960 Speaker 3: class or culturally right or whatever. Even a lot of 1276 00:59:26,000 --> 00:59:29,000 Speaker 3: these Stilicon Valley donors. I mean, if you look at 1277 00:59:29,000 --> 00:59:31,280 Speaker 3: the it's the things that they care with the most about. 1278 00:59:31,280 --> 00:59:34,560 Speaker 3: It's going to be literally DEI and like transgender issues. 1279 00:59:34,600 --> 00:59:36,840 Speaker 3: That's part of the reason the party is become the 1280 00:59:36,880 --> 00:59:40,280 Speaker 3: way it is. So how can you turn against oligarchy? 1281 00:59:40,320 --> 00:59:41,760 Speaker 3: I mean, if you don't have the voter base to 1282 00:59:41,760 --> 00:59:44,520 Speaker 3: sustain it, those people don't culturally trust you. Can you 1283 00:59:44,640 --> 00:59:46,880 Speaker 3: roll back twenty years of cultural left direction? 1284 00:59:46,920 --> 00:59:48,280 Speaker 1: I don't think so. But that's what. 1285 00:59:48,800 --> 00:59:50,680 Speaker 2: But so the thing is, first of all, I don't 1286 00:59:50,680 --> 00:59:54,479 Speaker 2: think you're right about what the normy Democratic base wants, Like. 1287 00:59:54,400 --> 00:59:55,640 Speaker 1: They are a what do they want? 1288 00:59:55,680 --> 00:59:58,000 Speaker 2: They are appolled by They want process going on here, 1289 00:59:58,160 --> 01:00:00,680 Speaker 2: They want to preserve the country, They want some you know, 1290 01:00:00,840 --> 01:00:01,280 Speaker 2: they want to. 1291 01:00:02,920 --> 01:00:03,760 Speaker 1: Charge you. 1292 01:00:04,360 --> 01:00:08,680 Speaker 2: I think you underestimate too how much the economic precarity 1293 01:00:08,800 --> 01:00:13,080 Speaker 2: has creeped up to middle class, upper middle class people, 1294 01:00:13,240 --> 01:00:16,440 Speaker 2: where it's not just the sort of traditional working class 1295 01:00:16,680 --> 01:00:18,960 Speaker 2: that feels that level of procarity. I also would say 1296 01:00:18,960 --> 01:00:21,400 Speaker 2: you very much overestimate where we are in terms of 1297 01:00:21,440 --> 01:00:25,600 Speaker 2: the realignment. Trump narrowly won you know, voters under what 1298 01:00:25,640 --> 01:00:28,880 Speaker 2: was it, one hundred thousand dollars. He didn't even win 1299 01:00:29,040 --> 01:00:31,760 Speaker 2: a majority of the vote. He won the popular vote, 1300 01:00:31,800 --> 01:00:34,440 Speaker 2: but he did not even get to fifty percent. So 1301 01:00:34,960 --> 01:00:39,160 Speaker 2: you still have, you know, plenty of working class voters 1302 01:00:39,160 --> 01:00:43,160 Speaker 2: within the Democratic base coalition. So there's no doubt that 1303 01:00:43,240 --> 01:00:46,600 Speaker 2: the Democratic base is appalled at what they see. 1304 01:00:46,440 --> 01:00:48,439 Speaker 4: Unfolding under trump Ism. 1305 01:00:48,520 --> 01:00:50,640 Speaker 2: Like that piece is not a question to be whatsoever, 1306 01:00:51,280 --> 01:00:55,000 Speaker 2: And the Democrats have to to your point, they have 1307 01:00:55,120 --> 01:00:59,200 Speaker 2: to regain some of those working class voters who who 1308 01:00:59,320 --> 01:01:01,600 Speaker 2: voted for Trump this time around. They have to bring 1309 01:01:01,640 --> 01:01:04,040 Speaker 2: them back into the coalition. And if you're actually going 1310 01:01:04,120 --> 01:01:06,680 Speaker 2: to do that, I think you have to make a 1311 01:01:06,720 --> 01:01:10,680 Speaker 2: stand against Elon and Oligart control and you have to 1312 01:01:10,720 --> 01:01:13,760 Speaker 2: have credibility with regard to, you know, burning the bridges 1313 01:01:13,800 --> 01:01:17,400 Speaker 2: with you know, your own your own donor class. Now 1314 01:01:17,440 --> 01:01:19,760 Speaker 2: where I see the more structural problem is that people 1315 01:01:19,800 --> 01:01:22,160 Speaker 2: like Haquem Jeffries, like Akaeme Jeffries, is not in this 1316 01:01:22,240 --> 01:01:25,640 Speaker 2: position because he's such a like brilliant visionary or whatever politician. 1317 01:01:25,720 --> 01:01:27,479 Speaker 2: He's there because he can raise a lot of money. 1318 01:01:27,720 --> 01:01:30,800 Speaker 2: Nancy Pelosi, who does have some skills at least, you know, 1319 01:01:31,120 --> 01:01:34,880 Speaker 2: but she her main hold on power was because she 1320 01:01:35,040 --> 01:01:39,360 Speaker 2: was an absolutely prolific fundraiser. The vast majority of Democratic 1321 01:01:39,440 --> 01:01:42,600 Speaker 2: candidates are not there because there was like a grassroots 1322 01:01:42,640 --> 01:01:44,600 Speaker 2: well of support for them. There's a few of them 1323 01:01:44,640 --> 01:01:47,120 Speaker 2: that that you know, could genuinely be said are the case. 1324 01:01:47,360 --> 01:01:49,600 Speaker 2: But by and large, the game that you had to 1325 01:01:49,600 --> 01:01:52,080 Speaker 2: play to get to power the Democratic Party is all 1326 01:01:52,120 --> 01:01:54,080 Speaker 2: about sucking up to the type of people that a 1327 01:01:54,160 --> 01:01:57,040 Speaker 2: Geme Jeffries is sucking up to so is a party 1328 01:01:57,200 --> 01:02:01,439 Speaker 2: that has self selected for that people who has these 1329 01:02:01,480 --> 01:02:05,600 Speaker 2: connections and whose primary skill set is raising money. Are 1330 01:02:05,600 --> 01:02:09,040 Speaker 2: they going to cut off their own individual politician or politician. 1331 01:02:09,400 --> 01:02:11,720 Speaker 2: Are they going to cut off their own sorts of power? 1332 01:02:12,040 --> 01:02:15,440 Speaker 2: And that's where I think the real structural problem ultimately 1333 01:02:15,440 --> 01:02:18,680 Speaker 2: comes in, because if this was how you got into 1334 01:02:19,000 --> 01:02:21,840 Speaker 2: whatever position of power you have, you're not going to 1335 01:02:21,880 --> 01:02:26,080 Speaker 2: be really particularly amenable to completely changing course and orienting 1336 01:02:26,120 --> 01:02:26,600 Speaker 2: the party in it. 1337 01:02:26,680 --> 01:02:27,760 Speaker 1: I think it's completely correct. 1338 01:02:27,800 --> 01:02:29,640 Speaker 3: I think it's a bidirectional problem, though, because it does 1339 01:02:29,680 --> 01:02:33,000 Speaker 3: get point taken, etc. But who is the center of 1340 01:02:33,000 --> 01:02:37,440 Speaker 3: gravity of elite democratic thought as reclined right Nate Silver, 1341 01:02:38,200 --> 01:02:41,680 Speaker 3: Like people who work in NGOs the New York Times 1342 01:02:41,680 --> 01:02:44,640 Speaker 3: op ed page. If you look at that center of gravity, 1343 01:02:44,680 --> 01:02:47,640 Speaker 3: it's not one that's ultimately going to be consistent with 1344 01:02:48,000 --> 01:02:49,640 Speaker 3: an anti aligarchic strategy. 1345 01:02:49,920 --> 01:02:51,600 Speaker 1: That's one that's really uncomfortable. 1346 01:02:51,640 --> 01:02:54,200 Speaker 3: I actually think your point about economic procarity at the 1347 01:02:54,240 --> 01:02:56,800 Speaker 3: middle class and upper middle class is important because part 1348 01:02:56,840 --> 01:02:59,000 Speaker 3: of the black pilling of the upper middle class has 1349 01:02:59,040 --> 01:03:02,320 Speaker 3: been very interesting to is actually also part of how 1350 01:03:02,360 --> 01:03:06,240 Speaker 3: you have this more elite turn against the Democratic Party 1351 01:03:06,240 --> 01:03:09,400 Speaker 3: because they're also bleeding some voters in that category, which 1352 01:03:09,480 --> 01:03:11,760 Speaker 3: leads to people like Bill Ackman and all these not 1353 01:03:11,760 --> 01:03:13,800 Speaker 3: saying they're in that category, but I'm saying that creates 1354 01:03:13,800 --> 01:03:16,360 Speaker 3: a permission structure for like white people who make two 1355 01:03:16,400 --> 01:03:19,479 Speaker 3: hundred grand who are like grill dads or whatever to say, Okay, 1356 01:03:19,480 --> 01:03:22,680 Speaker 3: screw the Democrats, even though traditionally they have been. Whoever 1357 01:03:22,840 --> 01:03:25,960 Speaker 3: is left are people who are like really into cultural 1358 01:03:26,000 --> 01:03:30,480 Speaker 3: liberalism on top of the Democratic Party coalition which raises 1359 01:03:30,520 --> 01:03:32,800 Speaker 3: a lot of money from these same people, and I 1360 01:03:32,840 --> 01:03:35,720 Speaker 3: don't think that they have that credibility yet, because to 1361 01:03:35,800 --> 01:03:38,640 Speaker 3: do so, you'd have to burn down everything that you've 1362 01:03:38,640 --> 01:03:41,600 Speaker 3: ever stood for. You'd have to both shove this like 1363 01:03:41,680 --> 01:03:44,760 Speaker 3: cultural bs to the side, pretend that you have never 1364 01:03:44,800 --> 01:03:46,760 Speaker 3: said any of the things that you have, and you 1365 01:03:46,760 --> 01:03:49,240 Speaker 3: would have to base like, how could you revamp your 1366 01:03:49,360 --> 01:03:51,760 Speaker 3: entire fundraising structure. I mean, you talked about this with 1367 01:03:51,840 --> 01:03:54,600 Speaker 3: the Bernie guys, but Bernie bros. Are just Trump voters now, 1368 01:03:54,680 --> 01:03:57,520 Speaker 3: so can you win them back? I'm genuinely skeptical. I 1369 01:03:57,520 --> 01:04:01,000 Speaker 3: feel like once you have lost credibility with people on 1370 01:04:01,720 --> 01:04:04,360 Speaker 3: because it's a long burn period, that the way that 1371 01:04:04,400 --> 01:04:07,320 Speaker 3: this happened that they would so quickly be able to turn. 1372 01:04:07,400 --> 01:04:09,640 Speaker 3: I think that the way that the Democrats can win 1373 01:04:09,680 --> 01:04:12,680 Speaker 3: again is to drive up their suburban margins and then 1374 01:04:12,760 --> 01:04:17,240 Speaker 3: convince younger Hispanic black voter, Hispanic. 1375 01:04:17,000 --> 01:04:19,080 Speaker 1: And black voters to come back into the fold and 1376 01:04:19,160 --> 01:04:19,680 Speaker 1: vote for them. 1377 01:04:20,360 --> 01:04:23,320 Speaker 3: And that's really the coalition at least in Pennsylvania, Michigan, 1378 01:04:23,400 --> 01:04:27,320 Speaker 3: Wisconsin that remains where their deficit was on top obviously 1379 01:04:27,400 --> 01:04:29,920 Speaker 3: of white working class voters. But I'm not sure that 1380 01:04:29,960 --> 01:04:31,920 Speaker 3: those people are ever coming back. So I just think 1381 01:04:31,920 --> 01:04:34,480 Speaker 3: it's a very very tough structural problem for them. I 1382 01:04:34,480 --> 01:04:36,440 Speaker 3: don't know, I don't know how you could get out 1383 01:04:36,440 --> 01:04:39,360 Speaker 3: of this Gordian knot when you've elected the DNC person 1384 01:04:39,840 --> 01:04:41,640 Speaker 3: that you have the good billionaire person. 1385 01:04:42,400 --> 01:04:44,880 Speaker 2: So you know what's interesting is even though that did 1386 01:04:44,880 --> 01:04:48,640 Speaker 2: say that same the reason he got picked instead of 1387 01:04:48,800 --> 01:04:53,600 Speaker 2: Ben Wickler, they're both state party chairs, both from like Minnesota. Right, 1388 01:04:53,640 --> 01:04:56,000 Speaker 2: one is Minnesota and the other one was Wisconsin. So 1389 01:04:56,120 --> 01:04:59,480 Speaker 2: Ken Martin, the one that got elected is Minnesota. Actually, 1390 01:04:59,480 --> 01:05:02,920 Speaker 2: what tanked Wickler's campaign is that he was seen as 1391 01:05:02,960 --> 01:05:05,480 Speaker 2: being too close to billionaires. So he was backed by 1392 01:05:05,520 --> 01:05:09,240 Speaker 2: Reid Hoffman, and he really had all the energy behind. 1393 01:05:09,280 --> 01:05:11,360 Speaker 2: You know, when Emily and Ryan interviewed him here, it 1394 01:05:11,400 --> 01:05:12,960 Speaker 2: was very much thought, oh, this is going to be 1395 01:05:12,960 --> 01:05:16,880 Speaker 2: the guy. And because he was perceived as being too 1396 01:05:16,920 --> 01:05:20,840 Speaker 2: close to the donor class, that's why he lost. And 1397 01:05:21,400 --> 01:05:23,600 Speaker 2: actually Nate talks about this year. But I also talked 1398 01:05:23,640 --> 01:05:26,720 Speaker 2: to Marianne about this as well, who also was involved 1399 01:05:26,720 --> 01:05:28,920 Speaker 2: in the DNC chair race, so she really saw it 1400 01:05:28,960 --> 01:05:31,200 Speaker 2: from the inside and that was what really caused people 1401 01:05:31,280 --> 01:05:33,560 Speaker 2: to turn on him. So even at the you know 1402 01:05:33,680 --> 01:05:36,440 Speaker 2: DNC like these are these are insiders, they're not like 1403 01:05:36,640 --> 01:05:39,640 Speaker 2: all wealthy people, but they're just like local Democratic party 1404 01:05:39,720 --> 01:05:43,120 Speaker 2: chairs and whatever. They saw that as a real liability 1405 01:05:43,120 --> 01:05:45,360 Speaker 2: and a real problem for him, which was very. 1406 01:05:45,200 --> 01:05:45,880 Speaker 4: Interesting to me. 1407 01:05:45,960 --> 01:05:49,600 Speaker 2: But that yeah, but back to the point of like, 1408 01:05:49,760 --> 01:05:51,920 Speaker 2: you know, people who are not learning lesson whatever, but 1409 01:05:52,000 --> 01:05:53,000 Speaker 2: D three up on the screen. 1410 01:05:53,120 --> 01:05:54,240 Speaker 4: So center Reuben. 1411 01:05:54,000 --> 01:05:58,800 Speaker 2: Diego has apparently he benefited to the tune of ten 1412 01:05:58,880 --> 01:06:04,160 Speaker 2: million dollars in his Senate campaign from crypto campaign contributions, 1413 01:06:04,440 --> 01:06:07,520 Speaker 2: and lo and behold, he's now the top Democrat on 1414 01:06:07,560 --> 01:06:11,520 Speaker 2: the Senate Banking Subcommittee overseeing digital assets i e. Crypto 1415 01:06:11,840 --> 01:06:14,800 Speaker 2: and is now hosting a luxury retreat with Marc Andreesen, 1416 01:06:15,120 --> 01:06:18,480 Speaker 2: who obviously one of crypto industries based investors and cheerleaders. 1417 01:06:19,280 --> 01:06:22,520 Speaker 2: And guess one of the featured speakers at this event 1418 01:06:22,600 --> 01:06:28,080 Speaker 2: too was Mataglesius, which was kind of no way, Yeah, yeah, Matt. 1419 01:06:28,000 --> 01:06:30,040 Speaker 1: What are you doing, bro? You got plenty of money 1420 01:06:30,040 --> 01:06:32,000 Speaker 1: in that sub stack. Please tell me you not ticket 1421 01:06:32,000 --> 01:06:32,720 Speaker 1: to Beacon fees. 1422 01:06:32,800 --> 01:06:37,080 Speaker 2: Oh god, he claims he wasn't paid to. Oh we'll 1423 01:06:37,120 --> 01:06:41,080 Speaker 2: take sold buddies whatever. But but you know, the crypto 1424 01:06:41,120 --> 01:06:46,440 Speaker 2: industry is an important force. They really made an example 1425 01:06:46,480 --> 01:06:50,240 Speaker 2: of Katie Porter, who had been adversarial towards end one 1426 01:06:50,240 --> 01:06:53,919 Speaker 2: of them regulated under the SEC and whatever, and they 1427 01:06:54,040 --> 01:06:56,560 Speaker 2: dropped millions of dollars on her in her race and 1428 01:06:56,600 --> 01:07:00,680 Speaker 2: she lost, And that was meant to and did send 1429 01:07:00,680 --> 01:07:04,200 Speaker 2: a signal to anyone else who had thoughts of being 1430 01:07:04,760 --> 01:07:08,640 Speaker 2: adversarial and you know, looking seriously at enforcement and regulation 1431 01:07:08,800 --> 01:07:10,400 Speaker 2: of the crypto industry, that. 1432 01:07:10,320 --> 01:07:11,600 Speaker 4: You better sit down and shut up. 1433 01:07:11,920 --> 01:07:14,960 Speaker 2: And so even though some of the thought was that 1434 01:07:15,000 --> 01:07:17,600 Speaker 2: there would be a crackdown after SBF was exposed in 1435 01:07:17,680 --> 01:07:20,360 Speaker 2: all of that nonsense, actually they just got smarter. They 1436 01:07:20,360 --> 01:07:23,360 Speaker 2: put more money into politics. Crypto industries now one of 1437 01:07:23,360 --> 01:07:26,800 Speaker 2: the biggest contributors got rich two political campaigns. Well, that's 1438 01:07:26,840 --> 01:07:27,400 Speaker 2: that's true to you. 1439 01:07:27,600 --> 01:07:29,320 Speaker 3: Point is literally went from like thirty k to one 1440 01:07:29,360 --> 01:07:30,520 Speaker 3: hundred k in that time period. 1441 01:07:30,720 --> 01:07:33,760 Speaker 2: And so so now at this point, you know, you've 1442 01:07:33,760 --> 01:07:37,440 Speaker 2: got Democrats and republic Diego very much in their pocket, 1443 01:07:37,560 --> 01:07:41,400 Speaker 2: all kinds of other bipartisan officials very much in their pocket, 1444 01:07:41,800 --> 01:07:44,680 Speaker 2: them getting their way at SEEFPB, et cetera. And so 1445 01:07:45,360 --> 01:07:48,160 Speaker 2: you know, it's quite noteworthy to have Diego at this 1446 01:07:48,280 --> 01:07:49,960 Speaker 2: luxury retreat with Mark Andreeson. 1447 01:07:50,040 --> 01:07:50,400 Speaker 1: Amusing. 1448 01:07:50,480 --> 01:07:52,800 Speaker 3: But also remember Diego is a star, right, people have 1449 01:07:52,800 --> 01:07:55,600 Speaker 3: already floated him. As you know he won in Arizona. 1450 01:07:55,720 --> 01:07:57,960 Speaker 3: There's a didn't he have the biggest point spread of 1451 01:07:57,960 --> 01:08:00,480 Speaker 3: any senator? For the Democrat who won? 1452 01:08:00,600 --> 01:08:02,680 Speaker 4: You might be right, yeah, no, oh for one who won. 1453 01:08:02,880 --> 01:08:06,360 Speaker 2: Yeah, I think Tester probably did of like point spread 1454 01:08:06,400 --> 01:08:09,440 Speaker 2: laws overall shared, Brown I think was second, but in 1455 01:08:09,520 --> 01:08:11,320 Speaker 2: terms of those who won, it might have been Guya Go. 1456 01:08:11,480 --> 01:08:13,240 Speaker 3: I mean, that's that's crazy, because what did Trump win 1457 01:08:13,280 --> 01:08:14,920 Speaker 3: Arizona by four or five points? And then I think 1458 01:08:14,920 --> 01:08:16,920 Speaker 3: Diego also want it buy a few points as well, 1459 01:08:17,000 --> 01:08:18,599 Speaker 3: So it's almost an eight to ten point spread. 1460 01:08:18,720 --> 01:08:19,760 Speaker 4: You know what the top of my head. 1461 01:08:19,800 --> 01:08:21,880 Speaker 2: You know what cares some cinema's up to Now it's 1462 01:08:22,200 --> 01:08:23,519 Speaker 2: on the board of some crypto bols. 1463 01:08:23,520 --> 01:08:26,800 Speaker 3: No, it's too good, too good. See, I would have 1464 01:08:26,800 --> 01:08:28,960 Speaker 3: thought she would have joined Uh what was it? What 1465 01:08:29,080 --> 01:08:32,280 Speaker 3: is she nuke the carried interest loophole? Yeah, yeah, so 1466 01:08:32,320 --> 01:08:33,559 Speaker 3: I would have thought she would have become a ven. 1467 01:08:33,880 --> 01:08:34,840 Speaker 4: She might be doing that too. 1468 01:08:34,920 --> 01:08:36,840 Speaker 2: I don't know, but I do know one of the 1469 01:08:36,880 --> 01:08:39,400 Speaker 2: things she's doing is she sits on. 1470 01:08:39,320 --> 01:08:42,160 Speaker 9: Some crypto board. Just too good, too good. This is 1471 01:08:42,160 --> 01:08:46,679 Speaker 9: we predicted here on the show. Hey, guys, we're gonna 1472 01:08:46,680 --> 01:08:48,800 Speaker 9: cover Stephen A. Smith tomorrow. I want to make sure 1473 01:08:48,800 --> 01:08:50,800 Speaker 9: that the show goes out on time. So Crystal, what 1474 01:08:50,840 --> 01:08:51,559 Speaker 9: do you take it a look at? 1475 01:08:51,640 --> 01:08:54,240 Speaker 6: Well, if we broke up the big banks tomorrow, and 1476 01:08:54,320 --> 01:08:57,960 Speaker 6: I will if they deserve it, if they pose a systemic. 1477 01:08:57,560 --> 01:09:03,480 Speaker 1: Risk, I will. What that is racism? Would that end sexism? 1478 01:09:04,520 --> 01:09:07,600 Speaker 6: Would that end discrimination against the LGBT community? 1479 01:09:08,400 --> 01:09:11,719 Speaker 1: Would that make people feel more welcoming to immigrants overnight? 1480 01:09:12,880 --> 01:09:15,920 Speaker 6: Would that solve our problem with voting rights and Republicans 1481 01:09:15,960 --> 01:09:18,799 Speaker 6: who are trying to strip them away from people of color, 1482 01:09:18,840 --> 01:09:22,720 Speaker 6: the elderly, and the young. Would that give us a 1483 01:09:22,800 --> 01:09:26,719 Speaker 6: real shot at making sure that our political system works 1484 01:09:26,720 --> 01:09:30,240 Speaker 6: better because we get rid of jerry mandering and redistricting 1485 01:09:30,560 --> 01:09:31,120 Speaker 6: and all. 1486 01:09:30,960 --> 01:09:33,400 Speaker 1: Of the gimmicks that states use to give these. 1487 01:09:33,240 --> 01:09:37,040 Speaker 6: Republicans safe seats so they can continue to tear down 1488 01:09:37,080 --> 01:09:42,839 Speaker 6: the progress we've made in America. I'm the only candidate 1489 01:09:42,880 --> 01:09:43,599 Speaker 6: who will take on. 1490 01:09:43,760 --> 01:09:45,520 Speaker 1: Every barrier to progress. 1491 01:09:45,920 --> 01:09:48,839 Speaker 6: I'm the only candidate who has a record of taking 1492 01:09:48,880 --> 01:09:52,200 Speaker 6: on those barriers. I'm the only candidate you will stand 1493 01:09:52,280 --> 01:09:56,040 Speaker 6: with you in every single fight, no matter how hard 1494 01:09:56,080 --> 01:09:57,719 Speaker 6: it is or how long it takes. 1495 01:09:58,200 --> 01:10:01,840 Speaker 2: That was Hillary Clinton in February twenty sixteen, desperately trying 1496 01:10:01,880 --> 01:10:04,719 Speaker 2: to block the class based juggernaut of the Bernie Sanders 1497 01:10:04,800 --> 01:10:08,479 Speaker 2: movement from ascending to power. That lower riff was essentially 1498 01:10:08,479 --> 01:10:12,040 Speaker 2: the playbook use identity politics and culture war to posture 1499 01:10:12,080 --> 01:10:14,879 Speaker 2: as being the real progressive whilstmearing Bernie and the supporters 1500 01:10:14,920 --> 01:10:18,200 Speaker 2: as secret sexists in bigots, all in order to accomplish 1501 01:10:18,240 --> 01:10:20,960 Speaker 2: the ultimate goal of protecting corporate power. 1502 01:10:21,520 --> 01:10:23,480 Speaker 4: Sad to say it worked. 1503 01:10:23,320 --> 01:10:26,200 Speaker 2: Hillary beat Bernie an agenda of woke virtue signaling, took 1504 01:10:26,200 --> 01:10:29,519 Speaker 2: over the Democratic Party, accelerating its decline with workers and 1505 01:10:29,560 --> 01:10:32,840 Speaker 2: the one movement that actually cared about fighting oligarchs on 1506 01:10:32,880 --> 01:10:35,680 Speaker 2: behalf of the ninety nine percent was by and large vanquished. 1507 01:10:36,000 --> 01:10:38,679 Speaker 2: Perhaps the most perfect distillation of this use of wochism 1508 01:10:38,760 --> 01:10:41,880 Speaker 2: to protect corporate powers when a union buster for ARII 1509 01:10:42,040 --> 01:10:45,080 Speaker 2: opened up their anti worker meeting with a land acknowledgment 1510 01:10:45,160 --> 01:10:48,800 Speaker 2: and pronounce progressive cultural posturing would be offered as a 1511 01:10:48,840 --> 01:10:53,880 Speaker 2: substitute for and distraction from actually checking the billionaire class. Now, 1512 01:10:53,880 --> 01:10:56,840 Speaker 2: this playbook is not unique to corporate democrats and has 1513 01:10:57,040 --> 01:10:59,799 Speaker 2: never been. In fact, it is being deployed with overwhelming 1514 01:10:59,840 --> 01:11:03,200 Speaker 2: success right now against the right, some elements of which 1515 01:11:03,240 --> 01:11:06,719 Speaker 2: had flirted with a break from Reagan conservatism. Some factions 1516 01:11:06,720 --> 01:11:09,880 Speaker 2: had flirted with union rights, anti trust enforcement, lifting wages, 1517 01:11:09,920 --> 01:11:13,120 Speaker 2: protecting safety net programs. The TLDR is this though, to 1518 01:11:13,160 --> 01:11:16,240 Speaker 2: my populous right friends, y'all are being played the same 1519 01:11:16,240 --> 01:11:18,759 Speaker 2: way liberals traded away a minimum wage hike for Nancy 1520 01:11:18,800 --> 01:11:21,719 Speaker 2: Pelosi Kneeling and Kent take loth You are trading away 1521 01:11:21,840 --> 01:11:25,000 Speaker 2: an anti trust agenda for an executive order taking pronouns 1522 01:11:25,040 --> 01:11:28,400 Speaker 2: off of passports. Elites are ushering in an oligarch agenda 1523 01:11:28,560 --> 01:11:30,200 Speaker 2: under the guise of culture war. 1524 01:11:30,479 --> 01:11:32,000 Speaker 4: And this is the playbook. 1525 01:11:32,400 --> 01:11:34,639 Speaker 2: They will feed you culture war scraps while they eat 1526 01:11:34,720 --> 01:11:36,880 Speaker 2: the whole universe. And it's happening now at a pace 1527 01:11:36,960 --> 01:11:40,800 Speaker 2: we have literally never seen before. Oligarchs are lying to 1528 01:11:40,840 --> 01:11:44,000 Speaker 2: your face telling you that the agencies that police their 1529 01:11:44,040 --> 01:11:48,000 Speaker 2: scams and fraud are actually woke and so deserving of dismantling. 1530 01:11:48,360 --> 01:11:51,840 Speaker 2: That ending DEI requires stripping your local public school of 1531 01:11:51,880 --> 01:11:56,240 Speaker 2: funds and privatizing weather data collection. That the few politicians 1532 01:11:56,320 --> 01:11:59,320 Speaker 2: like Bernie and Warren who have actually taken a principled 1533 01:11:59,320 --> 01:12:01,759 Speaker 2: stand against the rupting influence of big money in politics 1534 01:12:02,080 --> 01:12:04,800 Speaker 2: are really bought and paid for, so their stances which 1535 01:12:04,920 --> 01:12:09,000 Speaker 2: challenge corporate power could be disregarded. The real fraud in 1536 01:12:09,040 --> 01:12:12,400 Speaker 2: the federal budget can be found in imaginary gaza condoms 1537 01:12:12,720 --> 01:12:16,240 Speaker 2: instead of juicy billion dollar contracts and tax havens where 1538 01:12:16,280 --> 01:12:19,040 Speaker 2: the billionaires hide their cash. Now, let me ask you 1539 01:12:19,120 --> 01:12:21,519 Speaker 2: a simple math question. Which do you think is more 1540 01:12:21,600 --> 01:12:25,720 Speaker 2: important to the federal budget deficit Politico pro subscriptions at 1541 01:12:25,800 --> 01:12:29,400 Speaker 2: USAID or the fact that Tesla pays a grand total 1542 01:12:29,439 --> 01:12:33,000 Speaker 2: of zero dollars in federal taxes in spite of billions 1543 01:12:33,000 --> 01:12:36,519 Speaker 2: of dollars in profit. They're tricking you it's a scam 1544 01:12:36,760 --> 01:12:39,320 Speaker 2: and sad to say it's working now. One of the 1545 01:12:39,360 --> 01:12:42,080 Speaker 2: most brazen examples of this scam was perpetrated by successive 1546 01:12:42,120 --> 01:12:44,639 Speaker 2: oligarchs on the Joe Rogan Show. First Mark In Dreeson 1547 01:12:44,720 --> 01:12:46,799 Speaker 2: came by to lie to Joe's audience that the Consumer 1548 01:12:46,840 --> 01:12:50,040 Speaker 2: Financial Protection Bureau was actually an evil plot by Elizabeth 1549 01:12:50,080 --> 01:12:51,680 Speaker 2: Warren to dbank conservatives. 1550 01:12:51,760 --> 01:12:53,000 Speaker 4: Let's take a listen to a little of that. 1551 01:12:53,320 --> 01:12:55,120 Speaker 8: I'm Sully for example, with this thing called the Consumer 1552 01:12:55,160 --> 01:12:58,160 Speaker 8: Finance Protection Bureau CFPP, which was the sort of Elizabeth 1553 01:12:58,160 --> 01:13:00,920 Speaker 8: Warren's personal agency that she gets to control. And it's 1554 01:13:00,960 --> 01:13:03,080 Speaker 8: an independent agency that just gets to run and do 1555 01:13:03,160 --> 01:13:05,960 Speaker 8: whatever it wants. Right, And if you read the Constitution, like, 1556 01:13:06,000 --> 01:13:08,559 Speaker 8: there is no such thing as an independent agency, and 1557 01:13:08,640 --> 01:13:11,679 Speaker 8: yet there it is. What does her agency do, whatever 1558 01:13:11,680 --> 01:13:14,040 Speaker 8: she wants? What does it do though, we basically did 1559 01:13:14,240 --> 01:13:19,919 Speaker 8: terrorize financial terrorize financial institutions, prevent crypt fintech, prevent new competition, 1560 01:13:19,960 --> 01:13:21,479 Speaker 8: new startups that want to compete with the big banker. 1561 01:13:21,640 --> 01:13:24,800 Speaker 8: Oh yeah, house, just terrorizing anybody who tries to do 1562 01:13:24,800 --> 01:13:26,479 Speaker 8: anything new in financial services. And can you give me 1563 01:13:26,520 --> 01:13:29,760 Speaker 8: an example, said, you know, de banking, this is where 1564 01:13:29,760 --> 01:13:32,240 Speaker 8: A lot of the d banking comes from is these agencies. 1565 01:13:32,280 --> 01:13:34,479 Speaker 8: So d banking is when you're you, as either a 1566 01:13:34,479 --> 01:13:36,320 Speaker 8: person or your company, are literally kicked. 1567 01:13:36,120 --> 01:13:37,960 Speaker 1: Out of the banking system like they did to Kanye. 1568 01:13:38,280 --> 01:13:41,000 Speaker 8: Exactly like they did to Kanye. My partner band's father 1569 01:13:41,040 --> 01:13:43,559 Speaker 8: has been d banked. Really, we had an employee for 1570 01:13:43,640 --> 01:13:47,360 Speaker 8: what for having the wrong politics, for saying unacceptable things 1571 01:13:47,720 --> 01:13:50,280 Speaker 8: under current banking regulations under okay, here's a great here's 1572 01:13:50,280 --> 01:13:52,400 Speaker 8: a great thing. Under current banking regulations. After all the 1573 01:13:52,400 --> 01:13:54,960 Speaker 8: reforms of the last twenty years, there's now a category called 1574 01:13:55,000 --> 01:13:59,160 Speaker 8: a politically exposed person PEP. And if you are a PEP, 1575 01:13:59,200 --> 01:14:01,400 Speaker 8: you were required by financial regulators to kick them off 1576 01:14:01,520 --> 01:14:04,439 Speaker 8: of your to kick them out of your bank. You're 1577 01:14:04,479 --> 01:14:06,880 Speaker 8: not allowed to if you're politically on the left, that's 1578 01:14:06,880 --> 01:14:10,320 Speaker 8: fine because they're not politically expressed. 1579 01:14:10,360 --> 01:14:11,839 Speaker 4: So no one on the left gets dbank. 1580 01:14:12,040 --> 01:14:13,519 Speaker 8: Now, I have not heard of a single instance of 1581 01:14:13,560 --> 01:14:14,519 Speaker 8: anybody in the left getting DOE. 1582 01:14:14,479 --> 01:14:16,759 Speaker 5: Can you tell me what the person that you know did, 1583 01:14:16,960 --> 01:14:18,639 Speaker 5: what they said that got them de bank? 1584 01:14:18,760 --> 01:14:20,360 Speaker 8: Well, I mean, David Herwitz is a right wing you know, 1585 01:14:20,400 --> 01:14:22,240 Speaker 8: he's pro Trump. I mean he said all kinds of things. 1586 01:14:22,240 --> 01:14:24,439 Speaker 8: You know, he's been very anti Islamic terrorism, he's been 1587 01:14:24,479 --> 01:14:26,800 Speaker 8: very worried about migration, all these things. 1588 01:14:27,120 --> 01:14:28,360 Speaker 4: None of that is remotely true. 1589 01:14:28,520 --> 01:14:30,600 Speaker 2: This agency is one of the best expenditures in the 1590 01:14:30,720 --> 01:14:33,639 Speaker 2: entire federal budget as it fights against scams. It's actually 1591 01:14:33,640 --> 01:14:36,200 Speaker 2: returned billions of dollars to regular people who've been tricked 1592 01:14:36,240 --> 01:14:39,519 Speaker 2: and robbed by elites, So you can imagine why elites 1593 01:14:39,560 --> 01:14:42,719 Speaker 2: would like to see it eliminated. Specifically, and recent elon 1594 01:14:42,800 --> 01:14:45,879 Speaker 2: Musk and Coo are upset that the CFPB was regulating fintech, 1595 01:14:46,040 --> 01:14:48,439 Speaker 2: trying to make sure that online payment processors can't take 1596 01:14:48,479 --> 01:14:50,439 Speaker 2: your money and gamble it on crypto or other hair 1597 01:14:50,479 --> 01:14:52,840 Speaker 2: brain schemes. But you can't just tell people that this 1598 01:14:52,960 --> 01:14:55,160 Speaker 2: agency gets in the way of your scams. So instead, 1599 01:14:55,200 --> 01:14:58,240 Speaker 2: what do they do a trojan horse and all agark 1600 01:14:58,280 --> 01:15:02,320 Speaker 2: agenda through some culture war bullshit. Mark Zuckerberg was up next, 1601 01:15:02,360 --> 01:15:05,040 Speaker 2: also stopping by Rogan's pod to advance war lies about 1602 01:15:05,080 --> 01:15:06,880 Speaker 2: an agency that has served as a check on his 1603 01:15:07,040 --> 01:15:09,920 Speaker 2: power as well. He pretended like the CFPB took aim 1604 01:15:09,960 --> 01:15:12,840 Speaker 2: at him because he stood up to Biden. COVID censorship again, 1605 01:15:13,040 --> 01:15:16,080 Speaker 2: complete and total nonsense. It's worth noting that Zuckerberg was 1606 01:15:16,080 --> 01:15:18,200 Speaker 2: a Democrat like five seconds ago, using all kinds of 1607 01:15:18,200 --> 01:15:20,200 Speaker 2: woke virtue signaling to paint himself as some sort of 1608 01:15:20,240 --> 01:15:23,880 Speaker 2: a progressive ally when that was the most expedient paths 1609 01:15:23,880 --> 01:15:26,200 Speaker 2: of protecting his power. It is nothing for him to 1610 01:15:26,200 --> 01:15:28,679 Speaker 2: switch teams and use the same playbook of throwing out 1611 01:15:28,680 --> 01:15:32,280 Speaker 2: culture war red meat to cover for a pro oligarch agenda. 1612 01:15:32,640 --> 01:15:35,320 Speaker 2: It is literally the same playbook, just tickling the right 1613 01:15:35,360 --> 01:15:38,880 Speaker 2: wing cultural orogonis zones instead of the liberal ones. How 1614 01:15:38,920 --> 01:15:41,400 Speaker 2: has this worked out for all of them beautifully? Chef's 1615 01:15:41,439 --> 01:15:43,960 Speaker 2: kiss Elon announced a war on the CFPB with this 1616 01:15:44,000 --> 01:15:47,800 Speaker 2: particular tweet. Now that agency is effectively dead, the new 1617 01:15:47,840 --> 01:15:50,000 Speaker 2: head announced he wanted a zero dollar budget for the year, 1618 01:15:50,040 --> 01:15:52,880 Speaker 2: that all new rulemaking and investigations should cease, and the 1619 01:15:52,920 --> 01:15:55,639 Speaker 2: workforce was told not to show up this week. Victory 1620 01:15:55,720 --> 01:15:58,600 Speaker 2: for the fintech Robert barons who want to fleece you. 1621 01:15:59,200 --> 01:16:02,160 Speaker 2: This also means that rules such as ones promulgated under 1622 01:16:02,200 --> 01:16:04,679 Speaker 2: Biden which would have kept medical debt off of credit reports, 1623 01:16:04,680 --> 01:16:07,400 Speaker 2: have been halted unlikely to return. See if Phoebe is 1624 01:16:07,439 --> 01:16:10,120 Speaker 2: cracked down on junk fees gone after predit directory, payday 1625 01:16:10,200 --> 01:16:14,200 Speaker 2: lenders checked, abusive practices by debt collectors, stopped foreclosure abuses 1626 01:16:14,200 --> 01:16:16,920 Speaker 2: against veterans with VA loans, and a lot more. 1627 01:16:17,040 --> 01:16:20,360 Speaker 4: Now all over, do you see how this works? 1628 01:16:20,360 --> 01:16:23,320 Speaker 2: Though, in a world that made sense, the interest of 1629 01:16:23,360 --> 01:16:26,599 Speaker 2: the ninety nine point nine percent would routinely prevail over 1630 01:16:26,640 --> 01:16:29,240 Speaker 2: those at the top point one percent. So those at 1631 01:16:29,240 --> 01:16:31,679 Speaker 2: the tippy top, what do they do? They break the game. 1632 01:16:31,960 --> 01:16:34,400 Speaker 2: They lie to you, They confuse you about who your 1633 01:16:34,400 --> 01:16:37,599 Speaker 2: real allies are and who your real adversaries are. An 1634 01:16:37,600 --> 01:16:40,000 Speaker 2: executive order on girls and sports that applies maybe a 1635 01:16:40,040 --> 01:16:42,640 Speaker 2: few dozen girls in the entire country is no substitute 1636 01:16:42,680 --> 01:16:44,840 Speaker 2: for your ability to organize and have a voice in 1637 01:16:44,840 --> 01:16:47,840 Speaker 2: your own workplace. But they are systematically destroying the National 1638 01:16:47,880 --> 01:16:51,320 Speaker 2: Labor Relations Board. Christy Noam running around playing dress up 1639 01:16:51,400 --> 01:16:54,400 Speaker 2: like Ice Barbie is not worth giving up on breaking 1640 01:16:54,439 --> 01:16:56,960 Speaker 2: up tech monopolies and keeping them from automating your job 1641 01:16:57,040 --> 01:17:00,240 Speaker 2: out of existence. But Trump is propping up the AI 1642 01:17:00,360 --> 01:17:05,240 Speaker 2: overlords who openly brag about making all of humanity irrelevant. Now, 1643 01:17:05,280 --> 01:17:07,879 Speaker 2: some of you have been genuinely convinced that the richest 1644 01:17:07,880 --> 01:17:10,840 Speaker 2: man on earth, who is rapidly consolidating power solely in 1645 01:17:10,960 --> 01:17:13,720 Speaker 2: his own hands, is engaged in some sort of a 1646 01:17:13,800 --> 01:17:17,439 Speaker 2: populous project for the people. Please do not be a fool. 1647 01:17:18,000 --> 01:17:20,080 Speaker 2: Here's the truth of the bargain that is being offered 1648 01:17:20,080 --> 01:17:22,439 Speaker 2: to the right right now. You will get to own 1649 01:17:22,479 --> 01:17:25,840 Speaker 2: the Libs, and Elon will get to own the country. 1650 01:17:25,920 --> 01:17:28,320 Speaker 2: He will make you poor while he and enriches himself 1651 01:17:28,400 --> 01:17:30,680 Speaker 2: and his friends. He will strip away were rights to 1652 01:17:30,760 --> 01:17:33,839 Speaker 2: freedom of speech, privacy, while he makes himself all powerful 1653 01:17:33,920 --> 01:17:36,400 Speaker 2: and untouchable. This man wants to put chips and all 1654 01:17:36,400 --> 01:17:38,519 Speaker 2: our brains for God's sake. Like, let's be serious for 1655 01:17:38,520 --> 01:17:41,040 Speaker 2: a second. Allow me to quote from Steve Bannon on 1656 01:17:41,120 --> 01:17:44,280 Speaker 2: this particular point about Elon and on the philosophy. 1657 01:17:43,600 --> 01:17:46,479 Speaker 4: Of these particular tech oligarchs. He said to the New. 1658 01:17:46,439 --> 01:17:50,320 Speaker 2: York Times, quote, now here's the point in techno feudalism, 1659 01:17:50,920 --> 01:17:52,679 Speaker 2: you are just a digital surf. 1660 01:17:52,880 --> 01:17:53,519 Speaker 4: Your value is a. 1661 01:17:53,560 --> 01:17:55,400 Speaker 2: Human being, as someone built and made in the image 1662 01:17:55,400 --> 01:17:57,439 Speaker 2: and likeness of God and endowed with the life spirit 1663 01:17:57,479 --> 01:18:00,800 Speaker 2: of the Holy Spirit. They don't consider that everything is 1664 01:18:00,800 --> 01:18:03,400 Speaker 2: digital to them. They are, at the end of the day, transhumanists. 1665 01:18:03,439 --> 01:18:06,679 Speaker 2: And what is transhumanist? Transhumanist is somebody who sees homo 1666 01:18:06,720 --> 01:18:09,639 Speaker 2: sapien here and Homo sapien plus on the other side 1667 01:18:09,640 --> 01:18:12,439 Speaker 2: of what they call the singularity. And that's why they're 1668 01:18:12,479 --> 01:18:16,839 Speaker 2: all rushing, whether it's artificial intelligence, regenerative robots, quantum computing, 1669 01:18:16,880 --> 01:18:19,120 Speaker 2: advanced schip to sign Chris, or biotech, all of it 1670 01:18:19,439 --> 01:18:21,760 Speaker 2: to come to this point of which the oligarchs are 1671 01:18:21,760 --> 01:18:25,160 Speaker 2: going to lead that revolution. This is taking us back 1672 01:18:25,200 --> 01:18:29,879 Speaker 2: a millennium to feudalism. Their business model is based upon that. 1673 01:18:29,880 --> 01:18:33,320 Speaker 2: That's Steve Bannon saying that, now, if Elon and cole 1674 01:18:33,439 --> 01:18:35,200 Speaker 2: Co told you that their goal was to make you 1675 01:18:35,240 --> 01:18:37,719 Speaker 2: a digital surf in themselves ceo kings of the world, 1676 01:18:38,000 --> 01:18:39,240 Speaker 2: I don't think a whole lot of people are going 1677 01:18:39,320 --> 01:18:41,439 Speaker 2: to sign up for that project. So they cloak it 1678 01:18:41,439 --> 01:18:46,160 Speaker 2: in wokeness, gender ideology, some other real or imagine liberal excess, 1679 01:18:46,320 --> 01:18:49,200 Speaker 2: or simply in the delight of making liberals squeal. 1680 01:18:49,720 --> 01:18:53,360 Speaker 4: I beg you please keep your eye on the ball. 1681 01:18:53,880 --> 01:18:55,400 Speaker 4: The stakes here are too high. 1682 01:18:55,960 --> 01:18:59,080 Speaker 2: The best way to own the Libs would be to 1683 01:18:59,200 --> 01:19:03,439 Speaker 2: learn from the mistakes, to not get distracted by a 1684 01:19:03,439 --> 01:19:07,720 Speaker 2: bunch of surface level culture war obfuscation that lets billionaires 1685 01:19:07,760 --> 01:19:11,880 Speaker 2: empty the vault to not give away your country for 1686 01:19:11,920 --> 01:19:15,920 Speaker 2: a few anti woke bubbles. Do not let yourself get 1687 01:19:15,920 --> 01:19:18,200 Speaker 2: played and Saga, I know you took a look at it. 1688 01:19:18,600 --> 01:19:21,360 Speaker 3: And if you want to hear my reaction to Crystal's monologue, 1689 01:19:21,360 --> 01:19:25,360 Speaker 3: become a premium subscriber today at Breakingpoints dot com. Okay, 1690 01:19:25,479 --> 01:19:28,360 Speaker 3: great show for everybody tomorrow. Thank you all for watching. 1691 01:19:28,400 --> 01:19:29,720 Speaker 3: We love you and we'll see you the