1 00:00:00,240 --> 00:00:02,320 Speaker 1: Hey, guys, thanks for listening to Breaking Points with Crystal 2 00:00:02,320 --> 00:00:04,240 Speaker 1: and Sager. We're going to be totally upfront with you. 3 00:00:04,360 --> 00:00:07,200 Speaker 1: We took a big risk going independent to make this work. 4 00:00:07,320 --> 00:00:11,880 Speaker 1: We need your support to beat the corporate media CNN, Fox, MSNBC. 5 00:00:12,200 --> 00:00:15,760 Speaker 1: They are ripping this country apart. They are making millions 6 00:00:15,760 --> 00:00:18,360 Speaker 1: of dollars doing it. To help support our mission of 7 00:00:18,440 --> 00:00:20,720 Speaker 1: making all of us hate each other, less hate the 8 00:00:20,720 --> 00:00:24,000 Speaker 1: corrupt ruling class more support the show. 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We have an amazing show for everybody today. 19 00:01:08,360 --> 00:01:10,560 Speaker 1: When do we have Crystal? Indeed, we do a lot 20 00:01:10,560 --> 00:01:12,200 Speaker 1: of big developments to get to. First of all, you 21 00:01:12,280 --> 00:01:17,800 Speaker 1: might have noticed Facebook, Instagram, WhatsApp all down for most 22 00:01:17,840 --> 00:01:21,760 Speaker 1: of yesterday in a gigantic collapse. Still don't have a 23 00:01:21,760 --> 00:01:24,399 Speaker 1: lot of answers about exactly what happened, but some new 24 00:01:24,440 --> 00:01:27,680 Speaker 1: indications there this morning. And that happened the same day 25 00:01:28,280 --> 00:01:30,399 Speaker 1: that the whistleblower who had brought forward lots of files 26 00:01:30,440 --> 00:01:31,880 Speaker 1: of the the Wall Street Journal. They've been doing a big 27 00:01:31,920 --> 00:01:35,319 Speaker 1: investigation into Facebook the same day that she was on 28 00:01:35,440 --> 00:01:41,200 Speaker 1: sixty minutes, so very interesting timing. There new report about 29 00:01:41,480 --> 00:01:45,920 Speaker 1: massive corruption at the FED. I cannot understate how important 30 00:01:45,959 --> 00:01:50,040 Speaker 1: this is of all of the actors that drive our economy. Economy. 31 00:01:50,080 --> 00:01:52,680 Speaker 1: I mean, the FED is literally responsible for who gets 32 00:01:52,720 --> 00:01:56,200 Speaker 1: money and who doesn't. The idea that these men and 33 00:01:56,240 --> 00:01:59,200 Speaker 1: women are corrupted in trading stocks and profiting off of 34 00:01:59,280 --> 00:02:03,440 Speaker 1: what they're doing is massive news, wildly undercovered. We're going 35 00:02:03,520 --> 00:02:06,160 Speaker 1: to bring you the details. Another big story out in California, 36 00:02:06,600 --> 00:02:09,680 Speaker 1: big oil spill, and new questions this morning about when 37 00:02:09,800 --> 00:02:13,799 Speaker 1: officials knew that this leak had happened and this spill 38 00:02:13,919 --> 00:02:16,560 Speaker 1: was occurring, and when they actually got their act together 39 00:02:16,639 --> 00:02:19,200 Speaker 1: to do something about it. In alert resonance. Give you 40 00:02:19,240 --> 00:02:24,360 Speaker 1: the details there. Iatzi, huge union representing basically, the crew 41 00:02:24,440 --> 00:02:28,600 Speaker 1: on movie and other productions. They have authorized a strike. 42 00:02:29,120 --> 00:02:32,360 Speaker 1: This is sixty thousand workers who would be impacted. Hollywood 43 00:02:32,360 --> 00:02:35,560 Speaker 1: could potentially come to a halt. Negotiations have restarted their 44 00:02:35,639 --> 00:02:37,800 Speaker 1: ongoing We'll bring you on the details there, but we 45 00:02:37,840 --> 00:02:42,120 Speaker 1: wanted to start this morning with the dumbest but realist 46 00:02:42,320 --> 00:02:45,520 Speaker 1: crisis in all of DC, which is the debt ceiling. 47 00:02:46,280 --> 00:02:48,960 Speaker 1: I did a monologue a while back laying out the 48 00:02:49,000 --> 00:02:51,799 Speaker 1: details of the debt ceiling, some of the potential solutions, 49 00:02:52,000 --> 00:02:53,440 Speaker 1: but I just want to go over some of the 50 00:02:53,480 --> 00:02:55,200 Speaker 1: basics here because there can be a little bit of 51 00:02:55,200 --> 00:02:57,679 Speaker 1: a misunderstanding. When you talk about the debt ceiling. It 52 00:02:57,800 --> 00:03:00,520 Speaker 1: sounds like it might have something to do with fiscal 53 00:03:00,560 --> 00:03:03,680 Speaker 1: responsibility and balancing your budget and those sorts of things. 54 00:03:03,840 --> 00:03:07,359 Speaker 1: So if you're into that, the debt ceiling has really 55 00:03:07,400 --> 00:03:10,639 Speaker 1: nothing to do with that. It is this arbitrary historical relic. 56 00:03:10,880 --> 00:03:14,120 Speaker 1: The spending has already been authorized, the debt has already 57 00:03:14,160 --> 00:03:17,240 Speaker 1: been incurred. This is just a question of Congress doing 58 00:03:17,240 --> 00:03:19,679 Speaker 1: its job to figure out whether they're actually going to 59 00:03:19,720 --> 00:03:22,840 Speaker 1: pay the bills that they voted to spend this money. 60 00:03:23,360 --> 00:03:27,000 Speaker 1: So it's a stupid crisis. No other country has the 61 00:03:27,040 --> 00:03:31,200 Speaker 1: same debt sealing situation, and yet the consequences of breaching 62 00:03:31,200 --> 00:03:33,200 Speaker 1: the debt ceiling, which are going to happen, which will 63 00:03:33,200 --> 00:03:37,040 Speaker 1: happen in mid October, are incredibly, incredibly serious. I'll get 64 00:03:37,040 --> 00:03:39,040 Speaker 1: to that in a moment. So there are a couple 65 00:03:39,040 --> 00:03:41,440 Speaker 1: of options in order to raise the debt ceiling. One 66 00:03:41,520 --> 00:03:44,320 Speaker 1: is Republicans could actually help Democrats and do this. McConnell 67 00:03:44,360 --> 00:03:47,000 Speaker 1: has said he's absolutely not going to do that. Two is, 68 00:03:47,320 --> 00:03:50,440 Speaker 1: Democrats could use the reconciliation process where they only need 69 00:03:50,480 --> 00:03:53,480 Speaker 1: to use their majority, they don't have to rely on Republicans. 70 00:03:53,880 --> 00:03:57,280 Speaker 1: They've been really reluctant because they feel like it might 71 00:03:57,280 --> 00:03:59,280 Speaker 1: be a political problem for them to do this on 72 00:03:59,320 --> 00:04:01,760 Speaker 1: their own, so they've been throwing up all sorts of 73 00:04:01,760 --> 00:04:03,920 Speaker 1: objections to doing that. And at this point it's late 74 00:04:03,920 --> 00:04:06,000 Speaker 1: in the process and it is a gamble to be 75 00:04:06,040 --> 00:04:08,400 Speaker 1: able to get this through the reconciliation process on time. 76 00:04:09,360 --> 00:04:12,280 Speaker 1: The other solution for which I am an advocate is 77 00:04:12,320 --> 00:04:15,280 Speaker 1: to do what's called minting the coin. There is a 78 00:04:15,320 --> 00:04:17,680 Speaker 1: provision in the law that would allow the Treasury to 79 00:04:17,839 --> 00:04:21,719 Speaker 1: mint a trillion dollar coin. It's effectively an accounting gimmick. Yes, 80 00:04:21,760 --> 00:04:24,200 Speaker 1: it's sound stupid, but it is a real solution that 81 00:04:24,320 --> 00:04:27,560 Speaker 1: actual smart people and members of Congress have floated and 82 00:04:27,640 --> 00:04:31,160 Speaker 1: have backed. Essentially moved assets from one part of the 83 00:04:31,200 --> 00:04:34,240 Speaker 1: federal government's balance sheet to another. There's no inflation, there's 84 00:04:34,240 --> 00:04:39,120 Speaker 1: no additional money to get us around this thing. I 85 00:04:39,160 --> 00:04:41,080 Speaker 1: personally think that that is the direction we should be 86 00:04:41,120 --> 00:04:44,239 Speaker 1: going in at this point. But all of the actors 87 00:04:44,279 --> 00:04:48,320 Speaker 1: involved have effectively ruled out every single one of those 88 00:04:48,360 --> 00:04:52,520 Speaker 1: potential solutions. So here is Joe Biden yesterday getting asked 89 00:04:52,520 --> 00:04:55,000 Speaker 1: about the debt sealing, and I think these remarks will 90 00:04:55,040 --> 00:04:57,039 Speaker 1: give you a sense of how dire the situation is 91 00:04:57,120 --> 00:05:00,120 Speaker 1: at this point. Falling on the dead would lead to 92 00:05:00,200 --> 00:05:02,960 Speaker 1: a self inflicted wound that takes our economy over a 93 00:05:02,960 --> 00:05:09,240 Speaker 1: cliff and risk jobs and retirement savings, social Security benefits, 94 00:05:09,279 --> 00:05:13,520 Speaker 1: salaries for service members, benefits for veterans. It's so much more. 95 00:05:14,640 --> 00:05:17,119 Speaker 1: A failure to raise the deadlminent will call into question 96 00:05:17,240 --> 00:05:21,640 Speaker 1: Congress's willingness to meet our obligations that we've already incurred, 97 00:05:21,680 --> 00:05:25,000 Speaker 1: not new ones we've already incurred. This is going to 98 00:05:25,080 --> 00:05:29,720 Speaker 1: undermine the safety of US Treasury securities and will threaten 99 00:05:30,560 --> 00:05:34,320 Speaker 1: the reserve status of the dollar as the world's currency 100 00:05:34,880 --> 00:05:39,000 Speaker 1: the world relies on. American credit rating will be downgraded. 101 00:05:39,920 --> 00:05:45,480 Speaker 1: Interest rates will rise for mortgages, auto loans, credit cards, borrowing. 102 00:05:46,920 --> 00:05:51,240 Speaker 1: Folks watching at home, you should know this is the 103 00:05:51,279 --> 00:05:55,560 Speaker 1: Republican position. Here's it is. They won't vote to raise 104 00:05:55,560 --> 00:06:00,000 Speaker 1: the debt limit to cover their own spending. Democrats vote 105 00:06:00,120 --> 00:06:03,400 Speaker 1: with them to cover that spend last four years the 106 00:06:03,400 --> 00:06:07,280 Speaker 1: previous four years. They say Democrats should do it alone. 107 00:06:07,760 --> 00:06:11,640 Speaker 1: But then they're threatening to use a procedural power called 108 00:06:11,640 --> 00:06:16,839 Speaker 1: the filibuster, meaning that we'd have to get sixty votes, 109 00:06:16,920 --> 00:06:22,040 Speaker 1: not fifty votes to increase the dead limit. This would 110 00:06:22,040 --> 00:06:25,560 Speaker 1: block the Democrats from meeting our obligations and responsibilities to 111 00:06:25,600 --> 00:06:29,719 Speaker 1: prevent Congress from raising the dead limit. So let's be clear, 112 00:06:30,720 --> 00:06:34,160 Speaker 1: not only are Republicans refusing to do their job, the 113 00:06:34,279 --> 00:06:37,880 Speaker 1: threatening to use the power their power to prevent us 114 00:06:37,920 --> 00:06:41,920 Speaker 1: from doing our job saving the economy from a catastrophic event. 115 00:06:43,360 --> 00:06:48,320 Speaker 1: I think, quite frankly hypocritical, dangerous, and disgraceful. Their obstruction 116 00:06:48,720 --> 00:06:54,880 Speaker 1: and irresponsibility knows absolutely no bounds. Excuse me, especially as 117 00:06:54,920 --> 00:06:59,320 Speaker 1: we're clawing our way out of this pandemic. So obviously 118 00:07:00,040 --> 00:07:02,920 Speaker 1: mcrat's strategy is to try to pressure and shame Republicans 119 00:07:02,960 --> 00:07:05,960 Speaker 1: into helping them. That's not going to work. Mitch McConnell 120 00:07:06,080 --> 00:07:10,200 Speaker 1: out with his latest statement, and listen, Republicans are certainly 121 00:07:10,280 --> 00:07:12,960 Speaker 1: at fault here as well. But in fairness, they have 122 00:07:13,040 --> 00:07:15,840 Speaker 1: been saying since July, we're not helping y'all with this, 123 00:07:15,960 --> 00:07:17,920 Speaker 1: and I don't know what would have made the Democrats 124 00:07:17,960 --> 00:07:20,800 Speaker 1: think otherwise. Let's throw Mitch McConnell's statement up here on 125 00:07:20,840 --> 00:07:22,720 Speaker 1: the screen. Is a long ladder, et cetera, et cetera, 126 00:07:22,800 --> 00:07:25,160 Speaker 1: But here's a key paragraph. He says, by Parson, is 127 00:07:25,160 --> 00:07:27,280 Speaker 1: not a light switch that Speaker Pelosi and Leader Shumer 128 00:07:27,280 --> 00:07:29,280 Speaker 1: may flip on to borrow money and flip off to 129 00:07:29,320 --> 00:07:32,080 Speaker 1: spend it. Again, that's not what the dead seiling is about, okay. 130 00:07:32,120 --> 00:07:35,080 Speaker 1: Put that aside. Republicans' position is simple. We have no 131 00:07:35,200 --> 00:07:36,840 Speaker 1: list of demands for two and a half months. We 132 00:07:36,840 --> 00:07:39,160 Speaker 1: have simply warned that since your party wishes to govern 133 00:07:39,200 --> 00:07:41,720 Speaker 1: alone and must handle the dead limit alone as well, 134 00:07:41,960 --> 00:07:44,880 Speaker 1: Republicans are not coming to the rescue on this. And 135 00:07:44,920 --> 00:07:47,160 Speaker 1: if we can throw the next element up here on 136 00:07:47,200 --> 00:07:52,280 Speaker 1: the screen, Biden is also saying, Hey, I don't think 137 00:07:52,280 --> 00:07:54,920 Speaker 1: the reconciliation route is going to work out here, So 138 00:07:55,000 --> 00:07:57,520 Speaker 1: you're essentially at a complete impasse. To read this, and 139 00:07:57,560 --> 00:08:00,400 Speaker 1: says Biden rejects McConnell's ass as using reconcilition for the 140 00:08:00,400 --> 00:08:04,320 Speaker 1: debt ceiling is an incredibly complicated, cumbersome process. He says 141 00:08:04,320 --> 00:08:07,280 Speaker 1: it would require a voterama with up to hundreds of votes. 142 00:08:07,440 --> 00:08:10,240 Speaker 1: He says the Senate should pass the clean House approved 143 00:08:10,280 --> 00:08:13,400 Speaker 1: debt limit extension. I think there's a cent sagur that 144 00:08:14,080 --> 00:08:16,800 Speaker 1: Washington is like the boy who cried Wolf. We've had 145 00:08:16,880 --> 00:08:20,320 Speaker 1: so many of these crises and governments shut down threats 146 00:08:20,360 --> 00:08:22,760 Speaker 1: and coming right up to the edge of the brink 147 00:08:22,800 --> 00:08:25,480 Speaker 1: of the debt ceiling and having to take extraordinary measures 148 00:08:25,480 --> 00:08:27,680 Speaker 1: to keep from breaching it, and in the end they 149 00:08:27,680 --> 00:08:32,080 Speaker 1: always figure out some way to do the bare minimum 150 00:08:32,160 --> 00:08:34,679 Speaker 1: of what is required of them. I think people still 151 00:08:34,679 --> 00:08:36,640 Speaker 1: have a sense that that is going to be the case. 152 00:08:36,960 --> 00:08:40,360 Speaker 1: But as of this morning, the three possible roots to 153 00:08:41,040 --> 00:08:43,520 Speaker 1: lifting the debt ceiling have effectively been ruled out. The 154 00:08:43,600 --> 00:08:46,679 Speaker 1: very latest is that Treasury Secretary Jenny Yellen is saying 155 00:08:47,040 --> 00:08:50,680 Speaker 1: she's trashing the coin right, the minting the coin idea. 156 00:08:51,200 --> 00:08:53,320 Speaker 1: So I don't know exactly how they're going to get 157 00:08:53,320 --> 00:08:54,880 Speaker 1: themselves out of this way. This isn't a joke. This 158 00:08:55,040 --> 00:08:58,600 Speaker 1: could be a real catastrophe. Yeah, it's really serious. And 159 00:08:58,640 --> 00:09:01,880 Speaker 1: you know, we've both seen I think multiple debt limit crises. 160 00:09:01,920 --> 00:09:04,440 Speaker 1: They generally do figure it out. But here's what people 161 00:09:04,480 --> 00:09:07,160 Speaker 1: don't seem to understand. Biden and the Democrats in particular, 162 00:09:07,360 --> 00:09:10,280 Speaker 1: they keep trying to go with, well, this was Trump spending. Listen, 163 00:09:10,480 --> 00:09:13,120 Speaker 1: nobody cares, like they know they're being hypocritical, and they 164 00:09:13,160 --> 00:09:15,840 Speaker 1: don't care. I was reading this morning that Jimmich McConnell 165 00:09:15,880 --> 00:09:17,920 Speaker 1: was talking about, how, you know what the number one 166 00:09:17,920 --> 00:09:20,640 Speaker 1: goal in all this it's not to win anything. It's chaos. 167 00:09:20,679 --> 00:09:22,520 Speaker 1: And I've said this here on the show, which is 168 00:09:22,520 --> 00:09:24,840 Speaker 1: that at the end of the day, the American people 169 00:09:25,000 --> 00:09:28,360 Speaker 1: generally were going to blame the person in charge, especially 170 00:09:28,400 --> 00:09:31,559 Speaker 1: the party in power, if they see an absolute catastrophe 171 00:09:31,840 --> 00:09:34,880 Speaker 1: economic crisis. You can say, oh, blame the Republicans all 172 00:09:34,920 --> 00:09:36,720 Speaker 1: you want, even though it is kind of true and 173 00:09:36,760 --> 00:09:39,960 Speaker 1: it's not gonna happen. Just I want to be very clear. Yeah, 174 00:09:39,960 --> 00:09:43,480 Speaker 1: two people are also completely weaponizing the debt ceiling. As 175 00:09:43,520 --> 00:09:47,199 Speaker 1: you point out, it's a complicated financial maneuver and archaic 176 00:09:47,280 --> 00:09:50,760 Speaker 1: thing that comes across, you know, technically from congressional power 177 00:09:50,760 --> 00:09:53,600 Speaker 1: of the purse. But here's the problem. If we breach 178 00:09:53,679 --> 00:09:56,800 Speaker 1: the debt ceiling, it actually would spark a constitutional crisis 179 00:09:56,960 --> 00:10:01,120 Speaker 1: because then the Treasury Department would be deciding what institutional 180 00:10:01,120 --> 00:10:05,040 Speaker 1: government programs to spend and not Congress has the power 181 00:10:05,040 --> 00:10:07,640 Speaker 1: of the purse. They decide what to spend money on 182 00:10:07,960 --> 00:10:10,600 Speaker 1: and what not to the Treasury Department should not have 183 00:10:10,679 --> 00:10:13,960 Speaker 1: the ability to discern what gets paid and what's not. 184 00:10:14,200 --> 00:10:17,360 Speaker 1: So that's one argument that's out of the question. Two 185 00:10:17,720 --> 00:10:21,240 Speaker 1: is they try to bring it back to spending irresponsible whatever. 186 00:10:21,600 --> 00:10:24,120 Speaker 1: Really what it is, this entire thing is it is 187 00:10:24,160 --> 00:10:28,200 Speaker 1: a gimmick that is related to accounting and on the 188 00:10:28,320 --> 00:10:31,920 Speaker 1: backs of which we have architected the global financial system. Now, 189 00:10:32,440 --> 00:10:35,160 Speaker 1: I don't want to scare you, but that is really 190 00:10:35,160 --> 00:10:38,360 Speaker 1: how fragile things are. One of the reasons why I'm 191 00:10:38,360 --> 00:10:41,040 Speaker 1: also totally in favor of minting the coin is and 192 00:10:41,080 --> 00:10:42,640 Speaker 1: I love this. People are like, there, how can a 193 00:10:42,640 --> 00:10:46,880 Speaker 1: conservative It has nothing to do with increasing circulation of money. 194 00:10:47,000 --> 00:10:49,720 Speaker 1: Even if you buy all of that nothing. It's not quantitative, 195 00:10:49,800 --> 00:10:53,199 Speaker 1: using nothing. It is simply moving federal accounting dollars from 196 00:10:53,200 --> 00:10:55,199 Speaker 1: one side of a balance sheet to the other, such 197 00:10:55,240 --> 00:10:58,000 Speaker 1: that the Treasury Department that can sell bonds such that 198 00:10:58,120 --> 00:11:00,600 Speaker 1: we can then pay our bills. That's it. That's nothing. 199 00:11:00,640 --> 00:11:03,320 Speaker 1: It's something that we do literally every single day. We 200 00:11:03,520 --> 00:11:06,840 Speaker 1: just relied on Congress to do this. And the Biden 201 00:11:06,840 --> 00:11:10,560 Speaker 1: administration and the Chuck Schumer, all of them are fools 202 00:11:10,640 --> 00:11:13,240 Speaker 1: because they seem to believe that they can use public 203 00:11:13,280 --> 00:11:16,679 Speaker 1: pressure to pressure the Republicans to cave. They're not going 204 00:11:16,760 --> 00:11:19,040 Speaker 1: to do it. Have you lived in Washington, but like 205 00:11:19,240 --> 00:11:22,320 Speaker 1: whatever made you think? Right? I mean, the biggest error 206 00:11:22,360 --> 00:11:26,840 Speaker 1: here was not putting the lifting of the debt limit, 207 00:11:27,040 --> 00:11:30,440 Speaker 1: the debt ceiling in the initial reconciliation exactly. And the 208 00:11:30,520 --> 00:11:33,840 Speaker 1: reason they didn't do it was because, and I think 209 00:11:33,880 --> 00:11:36,680 Speaker 1: that this political calculus is stupid too. They were worried 210 00:11:36,679 --> 00:11:38,920 Speaker 1: that this would be used as some talking point against 211 00:11:38,960 --> 00:11:42,800 Speaker 1: vulnerable Democrats, et cetera, et cetera. John Yarmouth, who's the 212 00:11:42,880 --> 00:11:44,800 Speaker 1: Chair of the House Budget canede what he's been suggesting 213 00:11:44,920 --> 00:11:48,880 Speaker 1: is just lifted to some ridiculous a google plex or whatever, 214 00:11:48,960 --> 00:11:52,520 Speaker 1: some ridiculous number, ridiculously high. So it's done and you 215 00:11:52,559 --> 00:11:54,160 Speaker 1: never have to deal with this again. And are they 216 00:11:54,200 --> 00:11:57,080 Speaker 1: really going to add run ads that say so and 217 00:11:57,120 --> 00:12:00,800 Speaker 1: so voted for a google plex of debt. It sounds stupid, 218 00:12:00,920 --> 00:12:04,720 Speaker 1: It sounds ridiculous, and ultimately, I just don't think that 219 00:12:04,720 --> 00:12:08,120 Speaker 1: that's what's going to be the lynchpin of Democrats being 220 00:12:08,160 --> 00:12:10,080 Speaker 1: able to hold the House next year, which they're not 221 00:12:10,120 --> 00:12:12,800 Speaker 1: going to be able to do anyway. So it's an 222 00:12:12,800 --> 00:12:18,400 Speaker 1: incredibly stupid series of events. There's no heroes here. Everyone's 223 00:12:18,440 --> 00:12:21,960 Speaker 1: to blame. And Joe Wisenthal, who if you want to understand, 224 00:12:22,000 --> 00:12:24,960 Speaker 1: he's been great about explaining these issues. He also is 225 00:12:25,000 --> 00:12:29,840 Speaker 1: a hashtagment the coin Advocate. He says, you can't believe 226 00:12:30,559 --> 00:12:34,200 Speaker 1: that the meteor is headed to crash into our economy, 227 00:12:34,200 --> 00:12:36,959 Speaker 1: which is what Potus said about the debt ceiling. He said, 228 00:12:37,160 --> 00:12:39,199 Speaker 1: it's so dire, it's like a meteor is headed to 229 00:12:39,240 --> 00:12:41,960 Speaker 1: crash into our economy. Wisenthal says, you can't believe that's 230 00:12:42,000 --> 00:12:44,280 Speaker 1: the case and then not be willing to go coin. 231 00:12:44,720 --> 00:12:47,080 Speaker 1: A meteor is crashing into the economy. We're all about 232 00:12:47,120 --> 00:12:49,560 Speaker 1: to be destroying. The ensuing dusty explosion that blots out 233 00:12:49,600 --> 00:12:52,120 Speaker 1: the sun. A simple law on the books would avert 234 00:12:52,160 --> 00:12:55,960 Speaker 1: the disaster if it were used, but norms so we can't. 235 00:12:56,360 --> 00:12:59,719 Speaker 1: It actually reminds him of I talked to Saroda last 236 00:12:59,760 --> 00:13:02,719 Speaker 1: week about this movie that he's involved co wrote with 237 00:13:02,760 --> 00:13:05,280 Speaker 1: Adam McKay. It's called Don't Look Up. That's coming out 238 00:13:05,360 --> 00:13:08,400 Speaker 1: this December, and the whole plot of the movie is 239 00:13:08,440 --> 00:13:11,040 Speaker 1: what if a meteor was actually crashing into the Earth 240 00:13:11,480 --> 00:13:14,520 Speaker 1: and were so dysfunctional that you actually can't even get 241 00:13:14,520 --> 00:13:16,880 Speaker 1: anyone to care or do anything about it. Definitely would 242 00:13:16,880 --> 00:13:19,440 Speaker 1: be the case. That's a reality show, yeah right, and 243 00:13:19,600 --> 00:13:21,680 Speaker 1: like here we are, this is like the real world 244 00:13:21,720 --> 00:13:24,720 Speaker 1: equivalent of it. It's over the dumbest possible thing, but 245 00:13:24,880 --> 00:13:29,680 Speaker 1: with these incredibly dire consequences. So it's a stupid and 246 00:13:29,880 --> 00:13:34,880 Speaker 1: arbitrary problem, but the consequences of breaching this thing are 247 00:13:35,000 --> 00:13:39,200 Speaker 1: incredibly incredibly serious. Janet Yellen said she would be certain 248 00:13:39,400 --> 00:13:43,079 Speaker 1: that this would lead to a recession within days or weeks. 249 00:13:43,679 --> 00:13:47,280 Speaker 1: Business Insider here's a headline with a report from Moody's. 250 00:13:47,440 --> 00:13:50,000 Speaker 1: I decided this in my monologue as well, could cost 251 00:13:50,040 --> 00:13:54,079 Speaker 1: Americans fifteen trillion dollars six million jobs. They also talk 252 00:13:54,120 --> 00:13:56,320 Speaker 1: about the stock market would be in free fall. And 253 00:13:56,360 --> 00:13:59,840 Speaker 1: then think of all of the people who depend for 254 00:13:59,840 --> 00:14:03,600 Speaker 1: their livelihood or for their basic subsistence on the federal government. 255 00:14:03,640 --> 00:14:05,719 Speaker 1: You're talking about people who depend on food stamps or 256 00:14:05,760 --> 00:14:08,320 Speaker 1: other assistance. You're also talking about service men and women. 257 00:14:08,840 --> 00:14:12,240 Speaker 1: Are they going to get their paychecks? All of civil servants? 258 00:14:12,320 --> 00:14:15,200 Speaker 1: Of course, will they get their paychecks? Social Security payments? 259 00:14:15,480 --> 00:14:20,240 Speaker 1: These are real people, serious gigantic medical issues. You know, 260 00:14:20,400 --> 00:14:23,880 Speaker 1: I could go on, right, I just imagine sending the 261 00:14:23,960 --> 00:14:28,560 Speaker 1: economy into a massive recession for really no reason over 262 00:14:28,920 --> 00:14:34,880 Speaker 1: dumb DC dysfunction, posturing game of chicken, and again, you know, 263 00:14:35,120 --> 00:14:37,520 Speaker 1: I think that they probably will figure out a way 264 00:14:37,560 --> 00:14:40,280 Speaker 1: to avert this because the consequences are so dire. But 265 00:14:40,360 --> 00:14:43,320 Speaker 1: I just have so little faith in any of these people, 266 00:14:43,800 --> 00:14:47,680 Speaker 1: and they keep ruling out every single possible avenue out 267 00:14:47,720 --> 00:14:50,160 Speaker 1: of it. So that's where we are. We deserve this crystal, 268 00:14:50,200 --> 00:14:52,960 Speaker 1: we really do, which is that we deserve the Republican 269 00:14:53,000 --> 00:14:56,120 Speaker 1: opposition that we have. We deserve the democratic leadership who 270 00:14:56,280 --> 00:14:59,480 Speaker 1: is like, we won't change the rules to avoid a 271 00:14:59,640 --> 00:15:02,360 Speaker 1: dramatic disaster. And look, you can even be for the fillbuster. 272 00:15:02,400 --> 00:15:04,880 Speaker 1: You can change the filibuster selectively on the debt ceiling. 273 00:15:04,960 --> 00:15:07,960 Speaker 1: They could change that tomorrow refusing they're refusing to do that. 274 00:15:08,080 --> 00:15:10,720 Speaker 1: By the way, everyone would be happy. Republicans always just 275 00:15:10,720 --> 00:15:13,920 Speaker 1: suspend the debt ceiling whenever they're in power. Okay, so nuked, 276 00:15:13,960 --> 00:15:16,120 Speaker 1: you know, fine, who cares. Oh, but we have to 277 00:15:16,160 --> 00:15:19,280 Speaker 1: preserve the rules on this particular one. Oh well, then 278 00:15:19,480 --> 00:15:21,440 Speaker 1: we could also do it in reconciliation. They're like, nah, 279 00:15:21,440 --> 00:15:22,920 Speaker 1: we don't want to do that because we don't want 280 00:15:22,920 --> 00:15:26,280 Speaker 1: to stay here and vote. That is literally the justification is, Oh, 281 00:15:26,280 --> 00:15:28,040 Speaker 1: but then we'd have to stay up all night and vote. 282 00:15:28,080 --> 00:15:30,920 Speaker 1: Oh but is it a crisis or not? So they say, 283 00:15:30,920 --> 00:15:33,960 Speaker 1: Mitch McConnell, you have to do it. Biden saying, actually, no, 284 00:15:34,080 --> 00:15:37,400 Speaker 1: I can't guarantee whatsoever that we will extend the debt ceiling. 285 00:15:37,400 --> 00:15:39,320 Speaker 1: The Dow Jones is already down a thousand points in 286 00:15:39,360 --> 00:15:42,360 Speaker 1: the last month. We've dropped three hundred yesterday, largely due 287 00:15:42,400 --> 00:15:45,080 Speaker 1: to the debt sealing crisis. Now, look, personally, if I 288 00:15:45,160 --> 00:15:47,120 Speaker 1: was the cynic, I think that's probably the only thing 289 00:15:47,160 --> 00:15:49,680 Speaker 1: that might save us is if Jamie Diamond and the 290 00:15:49,720 --> 00:15:52,080 Speaker 1: Goldman sacks guys, I'll start getting on the phone to 291 00:15:52,120 --> 00:15:53,760 Speaker 1: Mitch McConnell and they're like, listen, and you've got to 292 00:15:53,760 --> 00:15:57,200 Speaker 1: figure this thing out. Maybe. But even then, like I said, 293 00:15:57,400 --> 00:16:00,280 Speaker 1: an economic crash is great for the Republicans. And I'm 294 00:16:00,280 --> 00:16:03,160 Speaker 1: speaking crassly here. I do not wish this upon anyone 295 00:16:03,240 --> 00:16:07,600 Speaker 1: but pure politics. The shutdown against Obama that worked, the 296 00:16:07,640 --> 00:16:11,560 Speaker 1: shutdown against Trump that also worked. Democrats won whenever it 297 00:16:11,560 --> 00:16:15,240 Speaker 1: was Trump and Republicans one whenever it was Obama. People 298 00:16:15,360 --> 00:16:18,400 Speaker 1: blame the people in charge. They don't follow all this nonsense. 299 00:16:18,440 --> 00:16:20,160 Speaker 1: They don't even know what the debt ceiling is. And 300 00:16:20,200 --> 00:16:22,120 Speaker 1: you know what, they wouldn't be wrong to blai. They 301 00:16:22,120 --> 00:16:24,280 Speaker 1: wouldn't wait a hunred percent wrong here though, because the 302 00:16:24,320 --> 00:16:27,760 Speaker 1: Republicans are assholes like y'all know that. That's not a surprise. 303 00:16:28,320 --> 00:16:30,320 Speaker 1: Where have you been for the past decade? You thought 304 00:16:30,320 --> 00:16:32,240 Speaker 1: they were going to help you on your little problem here. 305 00:16:32,320 --> 00:16:36,000 Speaker 1: It's a ridiculous notion. Democrats had in their hands the 306 00:16:36,040 --> 00:16:38,640 Speaker 1: tools to deal with this, so we don't have this 307 00:16:38,720 --> 00:16:43,920 Speaker 1: period of uncertainty, potential chaos, potential massive recession. They had 308 00:16:43,960 --> 00:16:45,440 Speaker 1: the tools in their hand to do. They still have 309 00:16:45,520 --> 00:16:47,960 Speaker 1: the tools in their hand to do that. They're just 310 00:16:48,160 --> 00:16:51,360 Speaker 1: choosing not to use those tools because they like another 311 00:16:51,800 --> 00:16:57,360 Speaker 1: tool better. It is incredibly stupid. I think you're absolutely right. Politically, 312 00:16:58,000 --> 00:17:01,440 Speaker 1: Democrats are in charge of us, and see the Senate 313 00:17:01,840 --> 00:17:03,760 Speaker 1: in the House. Who do you think that American people 314 00:17:03,760 --> 00:17:05,520 Speaker 1: are going to blame you. They don't know what filmbuster is. 315 00:17:05,560 --> 00:17:07,760 Speaker 1: They don't care. You know, it's like this happens every 316 00:17:07,760 --> 00:17:09,600 Speaker 1: single time. And you know what I really think about 317 00:17:09,760 --> 00:17:11,800 Speaker 1: during our AMA last week, we had somebody write in 318 00:17:11,840 --> 00:17:14,000 Speaker 1: who was a nurse who was like, Hey, I dependent 319 00:17:14,000 --> 00:17:15,840 Speaker 1: on my four oh one k. Yeah, retire, I want 320 00:17:15,840 --> 00:17:18,280 Speaker 1: to retire. Yeah, these are that's what's happening here. They're 321 00:17:18,320 --> 00:17:20,919 Speaker 1: screwing around with your retirement with a lot of the 322 00:17:20,920 --> 00:17:23,480 Speaker 1: people who do are lucky enough or whatever to own 323 00:17:23,520 --> 00:17:26,200 Speaker 1: securities and stocks but don't have you know, the grand 324 00:17:26,320 --> 00:17:28,879 Speaker 1: whatever ability to sway the market. That's who's going to 325 00:17:28,920 --> 00:17:31,320 Speaker 1: get screwed. You drop a thousand points, it's going to 326 00:17:31,320 --> 00:17:34,160 Speaker 1: screw people's jobs, payments. They're four to oh one k's. 327 00:17:34,359 --> 00:17:37,159 Speaker 1: This is serious stuff. Yeah, well, and the consequences are 328 00:17:37,200 --> 00:17:39,160 Speaker 1: way beyond the stock market even I mean, you're talking 329 00:17:39,200 --> 00:17:43,080 Speaker 1: about massive job losses. You're talking about payments that aren't 330 00:17:43,119 --> 00:17:46,040 Speaker 1: going out. I mean, this is and of course, any 331 00:17:46,160 --> 00:17:49,680 Speaker 1: time the economy is sick, anytime we have a downturn, 332 00:17:50,320 --> 00:17:53,399 Speaker 1: always the people who get hit the hardest are those 333 00:17:53,760 --> 00:17:57,240 Speaker 1: who have the least working class Americans would bear the 334 00:17:57,240 --> 00:18:01,280 Speaker 1: brunt of the failures of the elite last once again, 335 00:18:01,840 --> 00:18:04,320 Speaker 1: and so that's what we're looking at this morning, and 336 00:18:04,680 --> 00:18:08,359 Speaker 1: again not a really clear path insight in terms of 337 00:18:08,359 --> 00:18:11,440 Speaker 1: how this ultimately gets involved. I remember people died during recessions, 338 00:18:11,480 --> 00:18:13,600 Speaker 1: A lot, a lot of people come in suicide. It's horrible. 339 00:18:13,640 --> 00:18:15,480 Speaker 1: I remember two thousand and eight was one of the 340 00:18:15,520 --> 00:18:19,240 Speaker 1: worst periods and actually spawned a significant increase in mortality. 341 00:18:19,280 --> 00:18:21,160 Speaker 1: So I want people to realize that that's what they're 342 00:18:21,160 --> 00:18:24,359 Speaker 1: doing here, and it's a damn shame. Let's get to 343 00:18:24,440 --> 00:18:28,840 Speaker 1: a much less serious story, but still pretty interesting and important. Nonetheless, 344 00:18:29,040 --> 00:18:32,840 Speaker 1: Facebook was down for six to seven hours yesterday. That 345 00:18:33,000 --> 00:18:35,320 Speaker 1: not just included Facebook dot Com, which is one of 346 00:18:35,320 --> 00:18:38,440 Speaker 1: the second most visited websites in the world. It also 347 00:18:38,480 --> 00:18:42,840 Speaker 1: included because they own it, WhatsApp and Instagram. Interesting little 348 00:18:43,080 --> 00:18:48,439 Speaker 1: monopolistic view, and also happened right after a sixty minutes special. 349 00:18:48,520 --> 00:18:50,840 Speaker 1: We have no idea if these two things are connected. 350 00:18:50,840 --> 00:18:55,280 Speaker 1: Whatsoever in which a whistleblower talked about Facebook's the way 351 00:18:55,320 --> 00:18:57,879 Speaker 1: it works inside, and what she thinks are some of 352 00:18:57,920 --> 00:19:01,280 Speaker 1: the social pathologies that it's unleashing upon the country. Let's 353 00:19:01,320 --> 00:19:05,760 Speaker 1: take a listen. Facebook is a one trillion dollar company 354 00:19:06,320 --> 00:19:10,880 Speaker 1: just seventeen years old. It has two point eight billion users, 355 00:19:11,440 --> 00:19:16,080 Speaker 1: which is sixty percent of all Internet connected people on Earth. 356 00:19:17,040 --> 00:19:21,760 Speaker 1: Francis Hogan plans to testify before Congress this week. She 357 00:19:21,920 --> 00:19:27,320 Speaker 1: believes the federal government should impose regulations Facebook is demonstrated 358 00:19:27,560 --> 00:19:30,879 Speaker 1: they cannot act independently. Facebook over and over again has 359 00:19:30,920 --> 00:19:34,720 Speaker 1: shown it chooses profit over safety. It is subsidizing, is 360 00:19:34,800 --> 00:19:38,520 Speaker 1: paying for its profits with our safety. I'm hoping that 361 00:19:38,600 --> 00:19:40,359 Speaker 1: this will have had a big enough impact on the 362 00:19:40,400 --> 00:19:43,679 Speaker 1: world that they get the fortitude and the motivation to 363 00:19:43,720 --> 00:19:48,879 Speaker 1: actually go put those regulations into place. That's my home, 364 00:19:50,000 --> 00:19:51,720 Speaker 1: so that's what we have here. She was talking about 365 00:19:51,720 --> 00:19:54,600 Speaker 1: algorithmic changes, a lot of these investigations in the Wall 366 00:19:54,640 --> 00:19:58,480 Speaker 1: Street Journal, and interestingly enough, Crystal that comes out and 367 00:19:58,520 --> 00:20:03,200 Speaker 1: then immediately we have a site wide blackout for several hours. 368 00:20:03,480 --> 00:20:06,280 Speaker 1: Anybody who's read a little bit about Mark Zuckerberg knows 369 00:20:06,280 --> 00:20:09,840 Speaker 1: that he was actually literally obsessed with creating the website 370 00:20:09,840 --> 00:20:12,359 Speaker 1: and keeping it online, saying every minute that we're down, 371 00:20:12,560 --> 00:20:14,919 Speaker 1: we're losing money, people are getting off. So you can 372 00:20:14,960 --> 00:20:17,639 Speaker 1: imagine him having a basically a brain a. In your 373 00:20:17,640 --> 00:20:21,280 Speaker 1: answer yesterday, it's fair to say it was so rough 374 00:20:21,440 --> 00:20:25,159 Speaker 1: that his competitor, Jack Dorsey dunked on him whenever Facebook 375 00:20:25,200 --> 00:20:29,960 Speaker 1: dot Com appeared for sale in some because it's DNS 376 00:20:30,040 --> 00:20:31,639 Speaker 1: wasn't working. Let's put us up there on the screen. 377 00:20:32,000 --> 00:20:35,960 Speaker 1: Check this out. The website itself was not working, and 378 00:20:36,200 --> 00:20:39,720 Speaker 1: what you can see there repeatedly is that Facebook dot 379 00:20:39,720 --> 00:20:42,480 Speaker 1: Com was opened for was literally for sale on the 380 00:20:42,520 --> 00:20:46,399 Speaker 1: open Internet, Jack Dorsey joking how much. And then people 381 00:20:46,640 --> 00:20:51,280 Speaker 1: literally could not get into the building because the Internet 382 00:20:51,320 --> 00:20:54,040 Speaker 1: of Things govern all of their stuff. And then those 383 00:20:54,080 --> 00:20:56,600 Speaker 1: who were in the building were not able to crystal 384 00:20:56,640 --> 00:20:59,240 Speaker 1: in order to get into the conference rooms because their 385 00:20:59,280 --> 00:21:03,280 Speaker 1: badges weren't work. So it was a total and complete collapse. 386 00:21:03,359 --> 00:21:05,679 Speaker 1: Other people pointed out that one of the reasons may 387 00:21:05,720 --> 00:21:08,200 Speaker 1: have taken so long in order to get back online 388 00:21:08,359 --> 00:21:10,560 Speaker 1: is because they would not be able to get into 389 00:21:10,720 --> 00:21:14,879 Speaker 1: the server room, and the server room is deeply you know, 390 00:21:14,920 --> 00:21:18,640 Speaker 1: it's secure cold storage like all of that. So that's 391 00:21:18,680 --> 00:21:21,639 Speaker 1: actually that was the last that I read this morning, 392 00:21:21,920 --> 00:21:24,320 Speaker 1: that that was in fact the case, that what they 393 00:21:24,400 --> 00:21:28,040 Speaker 1: had to do was We've got precious little details now 394 00:21:28,119 --> 00:21:31,480 Speaker 1: right now about exactly what all went wrong, but that 395 00:21:31,600 --> 00:21:35,160 Speaker 1: once they gained access to the server room and reset 396 00:21:35,200 --> 00:21:37,639 Speaker 1: the servers, they were good to go. So it was 397 00:21:37,680 --> 00:21:40,000 Speaker 1: literally like they needed to turn it off and turn 398 00:21:40,040 --> 00:21:42,200 Speaker 1: it on, but they had to get to the thing. 399 00:21:42,280 --> 00:21:44,200 Speaker 1: They didn't get to the plug at least. That's that. 400 00:21:44,320 --> 00:21:46,439 Speaker 1: Those are some of the details coming out this morning. 401 00:21:46,520 --> 00:21:50,120 Speaker 1: I want to say I was personally gravely impacted by 402 00:21:50,160 --> 00:21:53,400 Speaker 1: this outage. Brianna Joy Gray and I played pickleball yesterday. 403 00:21:53,600 --> 00:21:55,680 Speaker 1: We took a great photo. I really wanted to put 404 00:21:55,680 --> 00:21:58,760 Speaker 1: it on Instagram, and I was daid at least four 405 00:21:58,760 --> 00:22:00,920 Speaker 1: hours in my ability to to do that. So this 406 00:22:01,080 --> 00:22:06,480 Speaker 1: had devastating impact on me personally. But Kenning aside, WhatsApp 407 00:22:06,680 --> 00:22:10,080 Speaker 1: is not as popular in the US, but other countries 408 00:22:10,200 --> 00:22:12,840 Speaker 1: around the world, Latin America in particular. I mean, this 409 00:22:13,000 --> 00:22:16,960 Speaker 1: is the mode of communication. You have businesses that depend 410 00:22:17,119 --> 00:22:19,920 Speaker 1: on some of these services, Like there are places where 411 00:22:19,920 --> 00:22:23,679 Speaker 1: Facebook is still cool and used by everybody and actually matters, 412 00:22:23,840 --> 00:22:26,720 Speaker 1: I mean Instagram, their whole businesses run off. Absolutely, So 413 00:22:27,480 --> 00:22:31,399 Speaker 1: this had had real impacts. And I think a lot 414 00:22:31,440 --> 00:22:34,560 Speaker 1: of what you know, of course we've already realized this, 415 00:22:34,760 --> 00:22:38,080 Speaker 1: but a lot of what this makes you realize is, hey, 416 00:22:38,119 --> 00:22:41,640 Speaker 1: maybe it's not a great idea to allow these giant 417 00:22:41,760 --> 00:22:47,840 Speaker 1: tech monopolies to have complete control over multiple critical modes 418 00:22:47,880 --> 00:22:51,640 Speaker 1: of communication. Maybe that wasn't the best idea to let 419 00:22:51,640 --> 00:22:56,720 Speaker 1: that ultimately happen when you see how fragile apparently they 420 00:22:56,800 --> 00:22:59,520 Speaker 1: ultimately are. That they were trying to make some sort 421 00:22:59,520 --> 00:23:01,000 Speaker 1: of back end change. I'm not a tech person, I 422 00:23:01,000 --> 00:23:03,280 Speaker 1: have no idea what any of this means. But in 423 00:23:03,320 --> 00:23:05,679 Speaker 1: making that back end change, they screwed something up and 424 00:23:05,720 --> 00:23:09,160 Speaker 1: it brought the whole system crashing down and they could 425 00:23:09,160 --> 00:23:12,439 Speaker 1: not resolve it for seven hours or something like that. Well, 426 00:23:12,480 --> 00:23:14,280 Speaker 1: so I did some more reading on this, and actually 427 00:23:14,280 --> 00:23:16,720 Speaker 1: we got very lucky here because of Facebook shortage. Look 428 00:23:16,720 --> 00:23:19,800 Speaker 1: at the end of the day, Facebook's not critical infrastructure, right, Like, yes, 429 00:23:19,920 --> 00:23:22,800 Speaker 1: I agree, WhatsApp. I know many people in India, Asia, 430 00:23:23,160 --> 00:23:27,440 Speaker 1: Latin America, all across Europe, everybody uses WhatsApp, completely understand, 431 00:23:27,480 --> 00:23:29,800 Speaker 1: but that was you know, you still have the ability 432 00:23:29,840 --> 00:23:32,320 Speaker 1: to send an SMS or a text message. Here's what 433 00:23:32,359 --> 00:23:35,879 Speaker 1: would have happened if we had lost say Amazon Web Services. 434 00:23:36,240 --> 00:23:38,280 Speaker 1: They say that the costs would have been in the 435 00:23:38,400 --> 00:23:41,159 Speaker 1: hundreds of billions, if not trillions of dollars. And the 436 00:23:41,200 --> 00:23:43,000 Speaker 1: reason why is that we would not have been able 437 00:23:43,040 --> 00:23:46,439 Speaker 1: to process credit card transactions. So imagine that if we 438 00:23:46,520 --> 00:23:49,840 Speaker 1: saw single point of failure that just Amazon Web Services 439 00:23:49,880 --> 00:23:52,800 Speaker 1: and not even necessarily all of AWS, just the part 440 00:23:52,800 --> 00:23:56,199 Speaker 1: which houses those particular transactions or the ability for the 441 00:23:56,200 --> 00:23:58,239 Speaker 1: servers in order to have all that stuff. If that 442 00:23:58,320 --> 00:24:00,800 Speaker 1: went down, you could have lost it brillion dollars in 443 00:24:01,520 --> 00:24:04,719 Speaker 1: commerce in a single day. And it's this is our 444 00:24:04,880 --> 00:24:08,280 Speaker 1: the entire US economy, especially in the tech sector, huge 445 00:24:08,440 --> 00:24:11,679 Speaker 1: single points of failure, where if it goes down and 446 00:24:11,720 --> 00:24:14,560 Speaker 1: then they have all these redundancies built in because hey, 447 00:24:14,640 --> 00:24:16,359 Speaker 1: the servers are the most important things, so you've got 448 00:24:16,400 --> 00:24:19,280 Speaker 1: to protect them. But behind walls of security. Oh well, 449 00:24:19,320 --> 00:24:21,040 Speaker 1: then the whole thing goes down and now you can't 450 00:24:21,040 --> 00:24:23,359 Speaker 1: get into the room for the server. What are you 451 00:24:23,400 --> 00:24:25,879 Speaker 1: going to do now? They claim, And Facebook has claimed 452 00:24:25,880 --> 00:24:30,000 Speaker 1: they've probably spent billions of dollars on server farms. They 453 00:24:30,040 --> 00:24:33,840 Speaker 1: don't want any they don't want any reliance on other 454 00:24:34,000 --> 00:24:36,200 Speaker 1: networks that they have to contract out, so they run 455 00:24:36,240 --> 00:24:38,600 Speaker 1: it all in house and that's fine. So they've spent 456 00:24:38,680 --> 00:24:40,639 Speaker 1: a lot of money trying to build up the secure 457 00:24:40,680 --> 00:24:44,480 Speaker 1: thing specifically so that this situation never goes down. This 458 00:24:44,880 --> 00:24:48,160 Speaker 1: site short shutdown alone probably costs Facebook in the hundreds 459 00:24:48,200 --> 00:24:51,280 Speaker 1: of millions of dollars range basically rounding error actually if 460 00:24:51,320 --> 00:24:54,639 Speaker 1: you think about their trillion dollar value. But like I said, 461 00:24:54,760 --> 00:24:57,840 Speaker 1: it's a preview of how easy it would be in 462 00:24:57,960 --> 00:25:00,919 Speaker 1: order to shut down life in a single second. If 463 00:25:00,920 --> 00:25:03,600 Speaker 1: this had been Google, or if it has been Google, 464 00:25:03,600 --> 00:25:06,280 Speaker 1: People's phones won't work. People who have Android or rely 465 00:25:06,400 --> 00:25:09,000 Speaker 1: on the Google server Gmail. Imagine if Gmail went down 466 00:25:09,600 --> 00:25:13,520 Speaker 1: any of these very critical communications infrastructures that we have. 467 00:25:13,600 --> 00:25:16,040 Speaker 1: And you know, it's just it's a very scary reminder 468 00:25:16,280 --> 00:25:18,920 Speaker 1: of how reliant we are on the technology and what 469 00:25:19,000 --> 00:25:22,080 Speaker 1: monopolization in the space can and can look like and 470 00:25:22,160 --> 00:25:24,000 Speaker 1: can have an impact on your life, Like why should 471 00:25:24,000 --> 00:25:26,359 Speaker 1: you hear well, you know yesterday you keep it refreshing 472 00:25:26,400 --> 00:25:29,040 Speaker 1: your Instagram feed, You're not going to get anything. Monopolies 473 00:25:29,080 --> 00:25:34,200 Speaker 1: make our entire economy and society extremely fragile. That's that's 474 00:25:34,200 --> 00:25:37,240 Speaker 1: what you get that during COVID. I mean, this ultimately 475 00:25:37,400 --> 00:25:39,560 Speaker 1: wasn't the biggest deal in the world, but what it 476 00:25:39,600 --> 00:25:42,760 Speaker 1: reveals is that because we've allowed and not just in 477 00:25:42,800 --> 00:25:46,440 Speaker 1: the tech sector, effectively in every single sector of American society, 478 00:25:46,760 --> 00:25:50,920 Speaker 1: we've allowed these giant monopolies to flourish. And that makes 479 00:25:51,000 --> 00:25:54,399 Speaker 1: us extraordinarily fragile. It's part of why we're having some 480 00:25:54,440 --> 00:25:58,359 Speaker 1: of these supply chain issues. It's part of why farmers 481 00:25:58,480 --> 00:26:03,200 Speaker 1: are so screwed, family farmer across the country. It's part 482 00:26:03,200 --> 00:26:06,359 Speaker 1: of why you have, you know, critical modes of communication, 483 00:26:06,600 --> 00:26:10,200 Speaker 1: critical choke points in terms of economic activity. It makes 484 00:26:10,280 --> 00:26:13,960 Speaker 1: us really, really fragile. That's kind of the bottom line here. Also, 485 00:26:14,040 --> 00:26:15,520 Speaker 1: by the way, I think we've got a Bloomberg tear 486 00:26:15,560 --> 00:26:19,720 Speaker 1: sheet Zuckerberg again to his having a bad day. Zuckerberg 487 00:26:19,800 --> 00:26:24,160 Speaker 1: lost six billion dollars in just a few hours as 488 00:26:24,160 --> 00:26:27,120 Speaker 1: Facebook lone. Just I think he's gonna be okay, Yeah, 489 00:26:27,160 --> 00:26:31,399 Speaker 1: he'll be fine. It says he dropped to number five 490 00:26:31,680 --> 00:26:34,280 Speaker 1: on the list of the world's richest. Now he's below 491 00:26:34,359 --> 00:26:38,399 Speaker 1: Bill Gates. So rough day for him. But you know, 492 00:26:39,600 --> 00:26:43,800 Speaker 1: the other unfortunate impact of all of this for Facebook 493 00:26:43,920 --> 00:26:46,280 Speaker 1: is I do think it called even more attention to 494 00:26:46,640 --> 00:26:50,720 Speaker 1: this whistleblower and the files that she brought for and 495 00:26:50,760 --> 00:26:53,280 Speaker 1: what she said about the company, and I've been reading this. 496 00:26:53,359 --> 00:26:56,120 Speaker 1: I did a monologue on one aspect of what she revealed, 497 00:26:56,119 --> 00:27:01,159 Speaker 1: which is that they knowingly intentionally created a system to 498 00:27:01,359 --> 00:27:04,480 Speaker 1: let elites effectively post whatever they want on the platform 499 00:27:04,720 --> 00:27:08,560 Speaker 1: and face no consequences whatsoever, because they know that their 500 00:27:08,720 --> 00:27:12,359 Speaker 1: algorithm for censorship is so screwed up that they didn't 501 00:27:12,359 --> 00:27:16,320 Speaker 1: want to have some sort of high profile pr problem. Yeah, 502 00:27:16,400 --> 00:27:19,120 Speaker 1: if an elite gets censored for something stupid, So they 503 00:27:19,119 --> 00:27:21,560 Speaker 1: basically are just like, well, we'll just have this gigantic 504 00:27:21,600 --> 00:27:24,880 Speaker 1: class of people that don't really get treated the same 505 00:27:24,880 --> 00:27:27,960 Speaker 1: way as everybody else on the platform, which is different 506 00:27:28,160 --> 00:27:30,000 Speaker 1: than what they've said in public. I mean, they've lied 507 00:27:30,000 --> 00:27:33,439 Speaker 1: to the public about that. Another thing that she revealed. 508 00:27:33,720 --> 00:27:36,520 Speaker 1: It's easy to take from her comments like, oh, she's just, 509 00:27:36,640 --> 00:27:39,159 Speaker 1: you know, on the liberal side of more censorship, but 510 00:27:39,280 --> 00:27:42,280 Speaker 1: what she actually revealed was more interesting than that and 511 00:27:42,359 --> 00:27:44,639 Speaker 1: actually made me think a little bit harder about the 512 00:27:44,680 --> 00:27:47,159 Speaker 1: problem with Facebook and all of these social media companies 513 00:27:47,240 --> 00:27:52,520 Speaker 1: which Back in twenty eighteen, Facebook changed their algorithm. Their 514 00:27:52,560 --> 00:27:56,040 Speaker 1: business was not doing well. Profitability and all that stuff 515 00:27:56,119 --> 00:27:58,679 Speaker 1: was great, and they're gigantic and all of that, but 516 00:27:58,720 --> 00:28:03,400 Speaker 1: they could see their key metrics were plunging in terms 517 00:28:03,440 --> 00:28:06,919 Speaker 1: of people posting new content, in terms of people liking content, 518 00:28:07,000 --> 00:28:10,320 Speaker 1: in terms of people sharing content. Effectively, the platform was 519 00:28:10,359 --> 00:28:12,760 Speaker 1: getting kind of stale and old and dead, and people 520 00:28:12,800 --> 00:28:15,119 Speaker 1: were not using it. They were still on it, but 521 00:28:15,160 --> 00:28:17,040 Speaker 1: they weren't engaged with it. They were just sort of 522 00:28:17,040 --> 00:28:19,760 Speaker 1: like zombies sitting there scrolling and not really engaging with 523 00:28:19,800 --> 00:28:23,680 Speaker 1: the content. So they freaked out and they changed their algorithm. 524 00:28:24,000 --> 00:28:26,600 Speaker 1: And what they did in changing the algorithm was to 525 00:28:26,600 --> 00:28:29,520 Speaker 1: make sure that what you're seeing in your feed is 526 00:28:29,560 --> 00:28:36,080 Speaker 1: the most salacious content, the most sort of outrageous content 527 00:28:36,720 --> 00:28:39,880 Speaker 1: that would it's it would elicit an emotion from you 528 00:28:39,960 --> 00:28:42,440 Speaker 1: and make you angry, right, so that would make you 529 00:28:42,880 --> 00:28:45,280 Speaker 1: want to comment, want to dislike, want to share and 530 00:28:45,320 --> 00:28:48,520 Speaker 1: say this is outrageous, and all of that. And they 531 00:28:48,600 --> 00:28:52,760 Speaker 1: knew at Facebook that this was having profoundly negative consequences. 532 00:28:52,960 --> 00:28:56,800 Speaker 1: They even knew and this is really interesting that people 533 00:28:57,040 --> 00:29:01,560 Speaker 1: liked their Facebook experience less after these changes because they 534 00:29:01,560 --> 00:29:04,240 Speaker 1: didn't like that this was like super agitating them. It 535 00:29:04,280 --> 00:29:06,719 Speaker 1: was making people angry and upset when they're going on 536 00:29:06,720 --> 00:29:09,600 Speaker 1: Facebook instead of the sort of like warm fuzzies, let 537 00:29:09,600 --> 00:29:11,400 Speaker 1: me look at my old photos or whatever they used 538 00:29:11,400 --> 00:29:14,640 Speaker 1: to have on Facebook. But it did drive a lot 539 00:29:14,680 --> 00:29:18,280 Speaker 1: more engagement. And so part of what that made me 540 00:29:18,440 --> 00:29:22,480 Speaker 1: realize that so much of what has led to Facebook 541 00:29:22,720 --> 00:29:26,160 Speaker 1: being such a cesspool and the worst voices having the 542 00:29:26,240 --> 00:29:31,680 Speaker 1: largest platforms oftentimes is intentional changes that Facebook made to 543 00:29:31,760 --> 00:29:35,600 Speaker 1: their algorithm. They're not unique in this right, because effectively 544 00:29:36,160 --> 00:29:38,920 Speaker 1: all of these companies, by being driven solely by the 545 00:29:38,920 --> 00:29:42,200 Speaker 1: profit motive, which they're never going to not do, they 546 00:29:42,280 --> 00:29:47,040 Speaker 1: have leaned into promoting this sort of agitating worst case 547 00:29:47,120 --> 00:29:49,800 Speaker 1: material that has a lot of follow on effects. And 548 00:29:49,800 --> 00:29:52,120 Speaker 1: again they knew that this was the consequence. They knew 549 00:29:52,120 --> 00:29:54,680 Speaker 1: this was the consequence, and they put some safeguards in 550 00:29:54,720 --> 00:29:58,239 Speaker 1: place during the election, during the twenty twenty election that 551 00:29:58,280 --> 00:30:01,920 Speaker 1: they then immediately took off after twenty twenty election. And 552 00:30:01,960 --> 00:30:04,200 Speaker 1: so they knew that this was going on, they knew 553 00:30:04,200 --> 00:30:06,920 Speaker 1: it was having these terrible effects. They give an example 554 00:30:06,960 --> 00:30:09,760 Speaker 1: two of or the s whistleblower, who I think is 555 00:30:09,840 --> 00:30:13,760 Speaker 1: very courageous, actually, Francis Hogan. She gives an example of 556 00:30:14,040 --> 00:30:17,720 Speaker 1: the way that this ripples throughout society and throughout our 557 00:30:17,760 --> 00:30:24,600 Speaker 1: media ecosystem. BuzzFeed CEO had sent them a message saying, effectively, 558 00:30:24,680 --> 00:30:27,000 Speaker 1: like the stuff that used to get shared a lot 559 00:30:27,200 --> 00:30:30,680 Speaker 1: was like things about self care and wellness and these 560 00:30:30,680 --> 00:30:33,680 Speaker 1: sort of like fluffy pupuaah like that sort of stuff 561 00:30:33,760 --> 00:30:36,400 Speaker 1: used to go viral, and now what will go viral 562 00:30:36,680 --> 00:30:40,200 Speaker 1: is they use the example of what was it called 563 00:30:40,320 --> 00:30:43,200 Speaker 1: twenty one things that almost all white people are guilty 564 00:30:43,200 --> 00:30:46,640 Speaker 1: of saying that goes viral. And it's basically and this 565 00:30:46,680 --> 00:30:50,160 Speaker 1: is the email from Jonah Peretti, who's the CEO of BuzzFeed. 566 00:30:50,400 --> 00:30:53,200 Speaker 1: He says, mostly it's people just yelling at each other 567 00:30:53,280 --> 00:30:55,960 Speaker 1: in the comments about race, yelling at BuzzFeed for having 568 00:30:56,000 --> 00:30:58,440 Speaker 1: written in the first place. And it was that angry 569 00:30:58,520 --> 00:31:02,120 Speaker 1: comment frenzy that propelled the virality. So when you have 570 00:31:02,320 --> 00:31:05,600 Speaker 1: that sort of incentive structure within these social media platforms, 571 00:31:05,960 --> 00:31:08,240 Speaker 1: guess what media outlets are going to lean into because 572 00:31:08,240 --> 00:31:10,640 Speaker 1: they're also looking at the bottom line, so they're not stupid. 573 00:31:10,920 --> 00:31:13,520 Speaker 1: So BuzzFeed is going to do more things like that 574 00:31:13,520 --> 00:31:16,800 Speaker 1: that are tearing at people and poking and making them 575 00:31:16,800 --> 00:31:20,000 Speaker 1: angry at each other, making them hate each other. Effectively, 576 00:31:20,280 --> 00:31:24,160 Speaker 1: this change in the algorithm helped to fuel the insane 577 00:31:24,200 --> 00:31:26,880 Speaker 1: culture war that we face. Now that's part of the problem. 578 00:31:26,960 --> 00:31:29,920 Speaker 1: That's all social media, right, I mean, what is TikTok's innovation. 579 00:31:30,080 --> 00:31:33,880 Speaker 1: TikTok's innovation is time on platform. They've already surpassed Instagram. Really, 580 00:31:33,880 --> 00:31:36,760 Speaker 1: what they have is the most sophisticated algorithm machine learning 581 00:31:36,760 --> 00:31:39,360 Speaker 1: to see what keeps you going. And there have been 582 00:31:39,600 --> 00:31:43,680 Speaker 1: endless investigations about teenagers going down horrible rabbit holes and more. 583 00:31:43,880 --> 00:31:46,120 Speaker 1: And guess what that's like, you said, that's what guests 584 00:31:46,120 --> 00:31:48,960 Speaker 1: people engage. I look at this not as a Facebook problem, 585 00:31:48,960 --> 00:31:52,480 Speaker 1: a TikTok problem. TikTok has issues for other ones, but 586 00:31:53,120 --> 00:31:55,880 Speaker 1: Twitter elsewhere. This is society, like we actually have to 587 00:31:55,880 --> 00:31:58,280 Speaker 1: decide is this okay or willing to deal with this? Well, 588 00:31:58,320 --> 00:32:01,360 Speaker 1: it's I mean, frankly, it's a capit because just like 589 00:32:01,400 --> 00:32:05,400 Speaker 1: in the healthcare system, when profit maximization is the only 590 00:32:05,520 --> 00:32:09,040 Speaker 1: metric well healthcare, if you get decent healthcare, that's like 591 00:32:09,080 --> 00:32:11,760 Speaker 1: an accident, that's a side effect. And it's the same 592 00:32:11,800 --> 00:32:15,480 Speaker 1: thing here. If the only values profit maximization, then you're 593 00:32:15,520 --> 00:32:19,520 Speaker 1: not valuing like having a society where people can co exist. 594 00:32:19,920 --> 00:32:22,400 Speaker 1: That's not a value that's embedded in the system. So 595 00:32:22,440 --> 00:32:24,120 Speaker 1: the other thing that she said, which I thought was 596 00:32:24,160 --> 00:32:26,440 Speaker 1: an interesting and thought provoking point, is she was like, 597 00:32:26,800 --> 00:32:29,720 Speaker 1: don't break up Facebook, because what happens then is you 598 00:32:29,760 --> 00:32:32,760 Speaker 1: have even fewer resources to kind of deal with these problems. 599 00:32:33,080 --> 00:32:35,640 Speaker 1: Her suggestion is transparency, which I don't think would be 600 00:32:35,680 --> 00:32:39,280 Speaker 1: nearly enough. I mean, really, you have to either aggressively 601 00:32:39,360 --> 00:32:43,640 Speaker 1: regulate these companies to force them to value something other 602 00:32:43,720 --> 00:32:46,680 Speaker 1: than just profit maximization, which clearly is leading to a 603 00:32:47,320 --> 00:32:49,640 Speaker 1: possible scenario. You have to nationalize them. I mean, those 604 00:32:49,680 --> 00:32:52,480 Speaker 1: are really the solutions if you want to look at 605 00:32:52,520 --> 00:32:57,920 Speaker 1: creating a better mode of communication. And obviously, look, that's 606 00:32:58,160 --> 00:33:00,280 Speaker 1: very difficult to do, and we don't even have the 607 00:33:00,560 --> 00:33:03,360 Speaker 1: political will to not like default on our dead So 608 00:33:03,360 --> 00:33:05,680 Speaker 1: I'm not whole in my breath here. But the last 609 00:33:05,680 --> 00:33:07,280 Speaker 1: thing that I'll say about this, because I did find 610 00:33:07,280 --> 00:33:11,480 Speaker 1: this all really thought provoking, is Biden and Democrats and 611 00:33:11,520 --> 00:33:15,400 Speaker 1: the people who are really worried about misinformation on these platforms, 612 00:33:15,720 --> 00:33:18,880 Speaker 1: they tend to focus on like the specific actors. There's 613 00:33:18,920 --> 00:33:21,680 Speaker 1: that stat about like I don't know ten people share 614 00:33:21,680 --> 00:33:24,360 Speaker 1: the most vaccinamous information or whatever. So it's all focused 615 00:33:24,400 --> 00:33:27,760 Speaker 1: on these like individual human beings who are putting out 616 00:33:27,800 --> 00:33:30,040 Speaker 1: bad info, and then it leads to these witch hunts 617 00:33:30,040 --> 00:33:32,160 Speaker 1: of like you're wrong thinking and you said something that 618 00:33:32,200 --> 00:33:35,120 Speaker 1: I don't like or whatever. But I think what she 619 00:33:35,360 --> 00:33:37,959 Speaker 1: shows is that this is a lot more systemic. It's 620 00:33:37,960 --> 00:33:43,320 Speaker 1: a lot more Facebook's fault for elevating intentionally and putting 621 00:33:43,400 --> 00:33:45,600 Speaker 1: at the top of their platform and putting into your 622 00:33:45,640 --> 00:33:48,400 Speaker 1: news feed over and over and over again the worst 623 00:33:48,400 --> 00:33:53,320 Speaker 1: possible actors. They did that knowingly, and so again it's 624 00:33:53,320 --> 00:33:56,760 Speaker 1: a lot It's really easy to call out this individual 625 00:33:56,920 --> 00:34:01,760 Speaker 1: random mom or doctor or whatever. It's a lot harder 626 00:34:01,800 --> 00:34:06,640 Speaker 1: to say Facebook tech sector, like you did this intentionally. 627 00:34:07,080 --> 00:34:11,759 Speaker 1: You are fomenting the worst possible actors. Because every has 628 00:34:11,800 --> 00:34:14,440 Speaker 1: a right to like say whatever they think, and I'm 629 00:34:14,560 --> 00:34:18,080 Speaker 1: very much against this sort of censorship direction, but you 630 00:34:18,120 --> 00:34:21,000 Speaker 1: don't have a right to be promoted aggressively in the 631 00:34:21,080 --> 00:34:23,440 Speaker 1: algorithm so that you're served to millions and millions of 632 00:34:23,440 --> 00:34:29,120 Speaker 1: people above other content that may be less sort of agitating, aggravating, 633 00:34:29,239 --> 00:34:31,680 Speaker 1: and ultimately tear us apart. That's the problem there is 634 00:34:31,719 --> 00:34:34,279 Speaker 1: that I always hear liberals make that point and they're like, 635 00:34:34,320 --> 00:34:37,160 Speaker 1: that's why you should promote the Daily Coasts and you 636 00:34:37,200 --> 00:34:40,000 Speaker 1: know whatever, it just becomes a race to the bottom. 637 00:34:40,200 --> 00:34:42,240 Speaker 1: I agree. I mean, look, it's a big systemic problem 638 00:34:42,320 --> 00:34:44,759 Speaker 1: in the tech sector. They have one goal to keep 639 00:34:44,760 --> 00:34:47,040 Speaker 1: you on the platform so they can sell your data 640 00:34:47,120 --> 00:34:49,719 Speaker 1: to advertisers. That's it. Ye, period, So we have to 641 00:34:49,760 --> 00:34:53,480 Speaker 1: decide is I actually think transparency would lead to It's 642 00:34:53,520 --> 00:34:55,480 Speaker 1: not the perfect world, it's not the ideal. So so 643 00:34:55,640 --> 00:34:58,279 Speaker 1: how it would help dramatically in my opinion, because I 644 00:34:58,320 --> 00:35:02,000 Speaker 1: think that the abs elute ability right now for them 645 00:35:02,040 --> 00:35:04,040 Speaker 1: to not do everything in a black box and we 646 00:35:04,120 --> 00:35:06,200 Speaker 1: sit here and debate it. Yeah about oh this to 647 00:35:06,320 --> 00:35:08,759 Speaker 1: get promoted. That that's part of the issue. Well, so 648 00:35:08,920 --> 00:35:11,239 Speaker 1: let me let me say because it's not so much 649 00:35:11,360 --> 00:35:13,560 Speaker 1: like let me pick we're going to promote the Washington 650 00:35:13,600 --> 00:35:15,400 Speaker 1: Post and we're not going to promote the Daily Caller. 651 00:35:15,880 --> 00:35:18,319 Speaker 1: It's they made a choice to promote the thing that 652 00:35:18,400 --> 00:35:22,120 Speaker 1: made people the most angry, right, not a particular political 653 00:35:22,120 --> 00:35:24,960 Speaker 1: ideology or another. So you could make a difference. They 654 00:35:25,040 --> 00:35:28,160 Speaker 1: used to make a different choice about what it was 655 00:35:28,640 --> 00:35:30,880 Speaker 1: that ultimately, and it was more neutral in terms of 656 00:35:30,920 --> 00:35:33,680 Speaker 1: what got served up to people, and it wasn't we're 657 00:35:33,680 --> 00:35:37,640 Speaker 1: going to go for that emotion, whether it's uh, you know, 658 00:35:37,840 --> 00:35:41,320 Speaker 1: left right or center angreen making true or false thing. 659 00:35:42,320 --> 00:35:44,600 Speaker 1: So it's not so much about I'm going to pick 660 00:35:44,600 --> 00:35:47,279 Speaker 1: and prioritize these platforms over that platforms, because I have 661 00:35:47,280 --> 00:35:49,200 Speaker 1: a major issue with that as well. And obviously we 662 00:35:49,200 --> 00:35:51,520 Speaker 1: see what that does on YouTube. Trust me, It's about 663 00:35:51,560 --> 00:35:55,759 Speaker 1: the type of metrics that you're going for. And yeah, 664 00:35:55,800 --> 00:35:57,840 Speaker 1: as long as profit is at the center of this, 665 00:35:58,000 --> 00:36:00,319 Speaker 1: they're going to go for like, let's make this the 666 00:36:00,320 --> 00:36:03,000 Speaker 1: worst possible place we can because that's what they profit 667 00:36:03,080 --> 00:36:06,200 Speaker 1: off of. Terrible. Hey, so remember how we told you 668 00:36:06,280 --> 00:36:09,360 Speaker 1: how awesome premium membership was. Well, here we are again 669 00:36:09,440 --> 00:36:12,000 Speaker 1: to remind you that becoming a premium member means you 670 00:36:12,080 --> 00:36:14,640 Speaker 1: don't have to listen to our constant please for you 671 00:36:14,760 --> 00:36:17,360 Speaker 1: to subscribe. So what are you waiting for? Become a 672 00:36:17,400 --> 00:36:20,359 Speaker 1: premium member today by going to Breakingpoints dot com, which 673 00:36:20,400 --> 00:36:23,640 Speaker 1: you can click on in the show notes. Speaking of profit, 674 00:36:23,920 --> 00:36:27,680 Speaker 1: ill gotten gains and more. This is also tremendously important story. 675 00:36:27,760 --> 00:36:30,839 Speaker 1: So let's put this up there from public citizen, which 676 00:36:30,880 --> 00:36:33,600 Speaker 1: is that the Federal Reserve vice chair traded up to 677 00:36:33,800 --> 00:36:37,960 Speaker 1: five million dollars out of bonds and into stocks one 678 00:36:38,160 --> 00:36:43,640 Speaker 1: day before Chairman Jerome Powell signaled a major policy action. Now, 679 00:36:44,040 --> 00:36:46,200 Speaker 1: you can say a lot of things about this. You 680 00:36:46,239 --> 00:36:49,279 Speaker 1: could say that it is you could say that he 681 00:36:49,520 --> 00:36:53,600 Speaker 1: had an inkling. There's no direct evidence that he was 682 00:36:53,680 --> 00:36:57,440 Speaker 1: even knowledgeable of a situation. But at the very least 683 00:36:57,480 --> 00:37:00,600 Speaker 1: crystal the appearance of corruption, as we all always say, 684 00:37:00,680 --> 00:37:04,080 Speaker 1: is just as pernicious as real corruption itself. These people 685 00:37:04,120 --> 00:37:07,360 Speaker 1: should not be actively strading stocks and bonds. We already 686 00:37:07,360 --> 00:37:10,080 Speaker 1: had the Dallas Federal Reserve guy who had to resign 687 00:37:10,120 --> 00:37:13,240 Speaker 1: because he was making up to one million dollar trades 688 00:37:13,600 --> 00:37:18,480 Speaker 1: on information many information necessarily that he could have profited 689 00:37:18,520 --> 00:37:20,920 Speaker 1: from and knew he was going to profit from whenever 690 00:37:20,960 --> 00:37:24,600 Speaker 1: he made decisions. This is, again, the vice chairman of 691 00:37:24,640 --> 00:37:28,920 Speaker 1: the Federal Reserve up to five million in bonds and stocks. 692 00:37:29,200 --> 00:37:32,520 Speaker 1: And what also always galls me about these things is 693 00:37:32,520 --> 00:37:36,719 Speaker 1: that they are so brazen in their actions that they 694 00:37:36,760 --> 00:37:39,760 Speaker 1: disclose it. All of this has actually come from public 695 00:37:39,760 --> 00:37:44,000 Speaker 1: disclosure forms, from their active portfolios of buying and selling. 696 00:37:44,239 --> 00:37:46,200 Speaker 1: Now Look, I'm not going to say wealthy people or 697 00:37:46,200 --> 00:37:49,560 Speaker 1: whatever can't serve on the federal reserve. Of course, not fine, whatever, 698 00:37:49,840 --> 00:37:52,360 Speaker 1: But I think that at the very least, if you 699 00:37:52,400 --> 00:37:55,480 Speaker 1: were going to have a hand in steering monetary policy, 700 00:37:55,760 --> 00:37:58,880 Speaker 1: you should not be actively trading stocks and bonds whatever 701 00:37:59,120 --> 00:38:01,399 Speaker 1: something in a blind us. Even then, you know, it's 702 00:38:01,440 --> 00:38:05,080 Speaker 1: a little sketchy, as we've seen blind trust, get we 703 00:38:05,160 --> 00:38:08,920 Speaker 1: have seen blind trust be revoked or you know what 704 00:38:09,040 --> 00:38:12,760 Speaker 1: worked around many times in American history, especially amongst presidents 705 00:38:12,800 --> 00:38:15,799 Speaker 1: and elected officials. But at the very least, they don't 706 00:38:15,800 --> 00:38:18,920 Speaker 1: even try to hide what they've been doing. There up 707 00:38:18,960 --> 00:38:22,680 Speaker 1: to five million dollars on potentially non public information. When 708 00:38:22,719 --> 00:38:25,040 Speaker 1: you have a direct hand in shaping the market to 709 00:38:25,120 --> 00:38:28,240 Speaker 1: the tune of hundreds of billions, if not trillions of dollars. Yeah, 710 00:38:28,440 --> 00:38:31,160 Speaker 1: I mean it's hard to wrap your het around, especially 711 00:38:31,280 --> 00:38:33,880 Speaker 1: post two thousand and eight, just how powerful the FED is, yeah, 712 00:38:33,920 --> 00:38:38,520 Speaker 1: and how much it controls our economy. I mean, look, 713 00:38:38,719 --> 00:38:42,160 Speaker 1: central banks at the most basic level, most simplistic level, 714 00:38:42,320 --> 00:38:45,799 Speaker 1: they decide who gets money and how much money, And 715 00:38:46,280 --> 00:38:51,160 Speaker 1: especially after the financial crash, the FED has been extraordinarily aggressive, 716 00:38:51,280 --> 00:38:57,000 Speaker 1: extraordinarily involved extraordinarily important. There actually is not enough focus 717 00:38:57,560 --> 00:39:00,120 Speaker 1: on what the FED is doing or understanding of what 718 00:39:00,160 --> 00:39:03,480 Speaker 1: the FED is doing. Policy is, you know, policy is 719 00:39:03,520 --> 00:39:06,520 Speaker 1: also obviously extremely important and all of that, but on 720 00:39:06,560 --> 00:39:10,200 Speaker 1: a day to day basis, the dudes on Wall Street, 721 00:39:10,200 --> 00:39:13,280 Speaker 1: the CEOs in this country, they are watching every single 722 00:39:13,480 --> 00:39:17,640 Speaker 1: word and every single tiny move that the FED makes 723 00:39:17,800 --> 00:39:23,760 Speaker 1: because it's extraordinarily powerful. So they're supposed to be held 724 00:39:24,360 --> 00:39:28,480 Speaker 1: everyone involved is supposed to be held to extraordinarily high 725 00:39:28,760 --> 00:39:34,880 Speaker 1: standards to avoid even the potential appearance of corruption. So 726 00:39:34,960 --> 00:39:39,360 Speaker 1: when you're talking about moving money around the day before 727 00:39:39,880 --> 00:39:44,680 Speaker 1: a gigantic announcement is made, I mean, this is insane. 728 00:39:44,840 --> 00:39:46,920 Speaker 1: And as you point out, this comes on the heels 729 00:39:46,960 --> 00:39:54,160 Speaker 1: of revelations about two different regional FED presidents in Boston 730 00:39:54,360 --> 00:39:57,120 Speaker 1: and in Dallas. Now, the Boston guy says he resigned 731 00:39:57,120 --> 00:40:01,719 Speaker 1: because of health reasons, but it was right after it 732 00:40:01,760 --> 00:40:04,200 Speaker 1: came out that, you know, he was doing a lot 733 00:40:04,239 --> 00:40:06,720 Speaker 1: of things with regards to real estate, which is another 734 00:40:06,840 --> 00:40:09,200 Speaker 1: market that they can have a lot of influence over. 735 00:40:09,719 --> 00:40:12,880 Speaker 1: So Wall Street Journal revealed this, and next thing, you know, 736 00:40:12,960 --> 00:40:15,000 Speaker 1: he resigns. Again. He says it was health problems, but 737 00:40:15,200 --> 00:40:19,040 Speaker 1: clearly clearly there's a problem here. Clearly there's a big 738 00:40:19,080 --> 00:40:22,080 Speaker 1: problem here. And whether it's actual corruption or whether it's 739 00:40:22,120 --> 00:40:27,920 Speaker 1: just an appearance of corruption, it really doesn't ultimately matter. Apparently, 740 00:40:28,280 --> 00:40:30,759 Speaker 1: you know, Pal's announced is they're going to do an 741 00:40:30,800 --> 00:40:34,080 Speaker 1: investigation and they're going to look into this and what 742 00:40:34,400 --> 00:40:36,520 Speaker 1: else they can do to make sure that you don't 743 00:40:36,560 --> 00:40:40,400 Speaker 1: have these problems. Again, but this is a dramatic and 744 00:40:40,520 --> 00:40:44,560 Speaker 1: incredibly significant failure that will get very very little attention, 745 00:40:45,080 --> 00:40:48,680 Speaker 1: but again shows you the way that these elites just 746 00:40:48,760 --> 00:40:52,839 Speaker 1: think that they can do whatever they want, played by 747 00:40:52,840 --> 00:40:56,000 Speaker 1: a different set of rules. They you know, are quick 748 00:40:56,080 --> 00:41:01,200 Speaker 1: to condemn different segments of elite society, to condemn, you know, 749 00:41:01,320 --> 00:41:04,680 Speaker 1: people who aren't believing them or buying into whatever it 750 00:41:04,719 --> 00:41:06,960 Speaker 1: is that they're trying to sell. But then you have 751 00:41:07,040 --> 00:41:10,839 Speaker 1: instances like this where you go, well, every single how 752 00:41:10,880 --> 00:41:13,440 Speaker 1: is it that every single institution is completely corrupted? In 753 00:41:13,480 --> 00:41:16,880 Speaker 1: this regard that we talked about the judicial system and 754 00:41:16,920 --> 00:41:20,440 Speaker 1: all these judges that we had financial interest in the 755 00:41:20,480 --> 00:41:23,520 Speaker 1: cases that they were ruling on. Of course, Stephen Donziger 756 00:41:23,600 --> 00:41:26,920 Speaker 1: is the case a great case in point there. Obviously, 757 00:41:26,960 --> 00:41:29,320 Speaker 1: we know the way that members of Congress are buying 758 00:41:29,320 --> 00:41:31,440 Speaker 1: and selling stocks, and again, the FEED is supposed to 759 00:41:31,440 --> 00:41:33,440 Speaker 1: be held to not that members of Congress are held 760 00:41:33,480 --> 00:41:35,080 Speaker 1: a very high standard, but the FED is supposed to 761 00:41:35,080 --> 00:41:37,480 Speaker 1: be held to an even higher standard than that. So 762 00:41:37,600 --> 00:41:41,120 Speaker 1: this is just an absolutely dramatic failure. It's either way 763 00:41:41,120 --> 00:41:42,719 Speaker 1: to put it, no other way. It reminds, you know, 764 00:41:42,800 --> 00:41:45,080 Speaker 1: people have such little faith in our institutions. I saw 765 00:41:45,160 --> 00:41:47,839 Speaker 1: Wall Street Journal story about some TikTok kids who all 766 00:41:47,880 --> 00:41:50,640 Speaker 1: they do is follow the trades of Nancy Pelosi and 767 00:41:50,680 --> 00:41:53,480 Speaker 1: of other high profile really Congress and they're beating the market. 768 00:41:53,480 --> 00:41:56,360 Speaker 1: They're like a hedge fund. They're literally like making personal 769 00:41:56,400 --> 00:41:59,719 Speaker 1: trades on the exact same following the stock Disclosure Act 770 00:42:00,080 --> 00:42:01,880 Speaker 1: that many of these members of Congress are doing, and 771 00:42:01,920 --> 00:42:04,799 Speaker 1: apparently they're actually doing pretty well. What does that tell you? 772 00:42:04,840 --> 00:42:08,680 Speaker 1: They have zero faith whatsoever that any of this is happenstance, 773 00:42:09,000 --> 00:42:11,120 Speaker 1: They say, Hey, these people look like they're making a 774 00:42:11,160 --> 00:42:13,040 Speaker 1: lot of money. I might as well jump in on 775 00:42:13,080 --> 00:42:16,520 Speaker 1: the train. When you have that level of corruption, it 776 00:42:16,600 --> 00:42:20,000 Speaker 1: is not that far away from a kleptocracy where you 777 00:42:20,160 --> 00:42:22,799 Speaker 1: just have people openly you know, We're not that far 778 00:42:22,840 --> 00:42:26,279 Speaker 1: away from people openly just making a trade on something, 779 00:42:26,360 --> 00:42:28,239 Speaker 1: and especially when you have the culture war to the 780 00:42:28,320 --> 00:42:31,080 Speaker 1: ability to come to your side or not, or the media. 781 00:42:31,120 --> 00:42:35,120 Speaker 1: How many people reported on Nancy Pelosi's stock options trades 782 00:42:35,280 --> 00:42:38,600 Speaker 1: up to a million dollars on like Microsoft and semiconductor companies. 783 00:42:38,800 --> 00:42:41,319 Speaker 1: Yeah it was her husband. Oh okay, I guess that 784 00:42:41,360 --> 00:42:43,120 Speaker 1: makes it, you know, I guess she doesn't profit whatsoever 785 00:42:43,160 --> 00:42:45,799 Speaker 1: from R right Or how about yesterday we covered this 786 00:42:45,920 --> 00:42:51,320 Speaker 1: incredible CNN segment where Fashakir suggests very gently that maybe 787 00:42:51,360 --> 00:42:55,040 Speaker 1: Heidi Hikamp, who's been being paid to advocate for low 788 00:42:55,080 --> 00:42:57,560 Speaker 1: taxes for the rich, that maybe she has a financial 789 00:42:57,560 --> 00:43:00,640 Speaker 1: interest at stake here as well, and all the anchor 790 00:43:00,760 --> 00:43:04,680 Speaker 1: jumps in to rest for you. Yeah, she's oh, well, look, first, 791 00:43:04,800 --> 00:43:06,399 Speaker 1: I loved how she was like, don't let's not get 792 00:43:06,400 --> 00:43:09,680 Speaker 1: into inside baseball, inside baseball, let's talk about this. Is 793 00:43:09,760 --> 00:43:13,120 Speaker 1: like financial journalists, if you're talking about the money in Washington, 794 00:43:13,200 --> 00:43:16,080 Speaker 1: you are not talking about what's actually going on in Washington. 795 00:43:16,120 --> 00:43:20,160 Speaker 1: And then she rushes in to defend the good reputation 796 00:43:20,719 --> 00:43:23,640 Speaker 1: of Heidi hike Camp. Let's be clear, she's lost her 797 00:43:23,680 --> 00:43:28,080 Speaker 1: seat for taking a vote of conscience. I mean, that's 798 00:43:28,160 --> 00:43:30,720 Speaker 1: part of What the major problem is here is people 799 00:43:30,760 --> 00:43:32,880 Speaker 1: feel like they're not getting the real story. They feel 800 00:43:32,880 --> 00:43:35,399 Speaker 1: like they're not seeing what's really driving the decision making 801 00:43:35,400 --> 00:43:38,360 Speaker 1: here because they're not, because the whole system is architected 802 00:43:38,400 --> 00:43:41,000 Speaker 1: that you can't you can't even suggest that you can't 803 00:43:41,000 --> 00:43:44,160 Speaker 1: ask these uncomfortable questions. Oh, it's inside baseball. We're not 804 00:43:44,200 --> 00:43:46,080 Speaker 1: going to talk about the way that Nancy Pelosi is 805 00:43:46,120 --> 00:43:48,359 Speaker 1: profiting off or position. We're not going to talk away 806 00:43:48,480 --> 00:43:51,439 Speaker 1: about the way that these fed dudes are profiting off 807 00:43:51,680 --> 00:43:54,440 Speaker 1: of their potential inside knowledge. We can't talk about any 808 00:43:54,520 --> 00:43:57,719 Speaker 1: of the moneyed interests who have a lot at stake 809 00:43:57,800 --> 00:44:00,480 Speaker 1: in what happens with this reconciliation build. That would just 810 00:44:00,480 --> 00:44:03,160 Speaker 1: be too unseemly. And so people know that they're not 811 00:44:03,200 --> 00:44:05,279 Speaker 1: getting the real story of what's actually going on and 812 00:44:05,280 --> 00:44:07,880 Speaker 1: what's driving this decision because they're not. I mean, you know, 813 00:44:07,920 --> 00:44:10,560 Speaker 1: and this happens every time a Republican senator does it. 814 00:44:10,719 --> 00:44:13,919 Speaker 1: You know, Fox either stays silent or doesn't cover it. 815 00:44:14,840 --> 00:44:18,160 Speaker 1: Pelosi does it, Fox and Friends. Top thing everybody cares 816 00:44:18,160 --> 00:44:21,279 Speaker 1: about Richard Burr. Everybody ignores Nancy Pelosi. I mean, I 817 00:44:21,280 --> 00:44:23,880 Speaker 1: did that whole thing unusual whales. Guy from Twitter, I 818 00:44:24,120 --> 00:44:27,440 Speaker 1: you know, writes up always the how the Senate, how 819 00:44:27,440 --> 00:44:29,600 Speaker 1: the Senate's doing and stuff. They're being in a market 820 00:44:29,640 --> 00:44:32,399 Speaker 1: by ten to twenty percent. I mean, look, there are 821 00:44:32,400 --> 00:44:34,960 Speaker 1: hedge funds on Wall Street to charge people, you know, 822 00:44:35,000 --> 00:44:37,399 Speaker 1: two and twenty in order to do the exact same thing, 823 00:44:37,600 --> 00:44:40,200 Speaker 1: and they're not getting the same returns. So you tell 824 00:44:40,239 --> 00:44:42,959 Speaker 1: me what's going on here? The biggest geniuses, you see 825 00:44:42,960 --> 00:44:45,000 Speaker 1: how they speak. I met a lot of them. Let 826 00:44:45,000 --> 00:44:47,160 Speaker 1: me tell you they ain't a lot out there, Okay, 827 00:44:47,560 --> 00:44:50,720 Speaker 1: running their best. Yeah, they're not sending their best whenever 828 00:44:50,760 --> 00:44:54,040 Speaker 1: it comes to Congress. Same thing here, I mean, you're 829 00:44:54,080 --> 00:44:56,600 Speaker 1: really gonna tell me that they just had The guy 830 00:44:56,640 --> 00:44:59,840 Speaker 1: claims he was rebalancing his portfolio. Last time he did 831 00:44:59,920 --> 00:45:02,120 Speaker 1: it in April. This time he does it on February 832 00:45:02,120 --> 00:45:04,160 Speaker 1: twenty seven. Just happens to be the day before the 833 00:45:04,400 --> 00:45:07,360 Speaker 1: chairman makes a major announcement which has massive impact on 834 00:45:07,520 --> 00:45:11,799 Speaker 1: US policy. I mean, look, you know, guys got a rebalance, right, 835 00:45:11,840 --> 00:45:13,920 Speaker 1: it just had to be on that day, and they 836 00:45:13,960 --> 00:45:16,680 Speaker 1: have pousitible deniability. But the rest of us know what's 837 00:45:16,719 --> 00:45:19,440 Speaker 1: going on. We know what's going on here. Elizabeth Warren 838 00:45:19,440 --> 00:45:21,879 Speaker 1: and some others have called for an SEC investigation. Yes, 839 00:45:21,960 --> 00:45:25,000 Speaker 1: at the very least, we could have something like that. 840 00:45:25,200 --> 00:45:27,919 Speaker 1: Look if he truly was just a rebalance, and they've 841 00:45:27,920 --> 00:45:31,319 Speaker 1: got emails and stuff to prove it. Okay, fine, remarkable coincidence, 842 00:45:31,400 --> 00:45:33,960 Speaker 1: But the public deserves to know. We just public deserves 843 00:45:34,000 --> 00:45:36,239 Speaker 1: to know, and the public deserves for this to never 844 00:45:36,280 --> 00:45:38,680 Speaker 1: happen again. They should not be buying and selling stocks. 845 00:45:38,680 --> 00:45:41,080 Speaker 1: They should not be actively trading the market. In my opinion, 846 00:45:41,080 --> 00:45:43,880 Speaker 1: they shouldn't be even owning stocks while they are in 847 00:45:43,920 --> 00:45:47,400 Speaker 1: these positions of incredible power. We throw around the words 848 00:45:47,560 --> 00:45:50,440 Speaker 1: public servants. Public service is supposed to come with some 849 00:45:50,520 --> 00:45:54,040 Speaker 1: kind of sacrifice. This is the very least, the very 850 00:45:54,160 --> 00:45:56,799 Speaker 1: least that they could do in order to give the 851 00:45:56,800 --> 00:46:00,520 Speaker 1: public some confidence that their decision making is actually about 852 00:46:00,560 --> 00:46:03,000 Speaker 1: the public good and not about what they're going to 853 00:46:03,040 --> 00:46:07,080 Speaker 1: personally profit on. Another important story that I wanted to 854 00:46:07,080 --> 00:46:09,120 Speaker 1: make sure we cover here is there is a large 855 00:46:09,160 --> 00:46:13,560 Speaker 1: spill of oil. Large oil spill in California running up 856 00:46:13,560 --> 00:46:17,360 Speaker 1: onto Hunting and Beach in Orange County. Take a listen 857 00:46:17,400 --> 00:46:20,120 Speaker 1: to a little bit of what's going on there. All right, 858 00:46:20,160 --> 00:46:23,200 Speaker 1: We begin with breaking news out of southern California, where 859 00:46:23,200 --> 00:46:26,680 Speaker 1: a major oil spill off the coast is being called 860 00:46:26,680 --> 00:46:31,400 Speaker 1: a potential ecological disaster. The leak is about three miles 861 00:46:31,440 --> 00:46:34,759 Speaker 1: off the coast of Huntington Beach, and experts estimate as 862 00:46:34,840 --> 00:46:37,719 Speaker 1: much as one hundred and twenty six thousand gallons of 863 00:46:37,800 --> 00:46:42,320 Speaker 1: post production crude spilled out, apparently from an offshore oil 864 00:46:42,400 --> 00:46:47,080 Speaker 1: production site. The impacts to wildlife are already visible. Oil 865 00:46:47,239 --> 00:46:50,680 Speaker 1: has now started to wash ashore along with dead fish 866 00:46:50,880 --> 00:46:56,560 Speaker 1: and birds. Total disaster. We still don't know exactly what happened. 867 00:46:56,920 --> 00:46:59,319 Speaker 1: We've got some photos we can show you too of 868 00:46:59,360 --> 00:47:01,439 Speaker 1: some of the devis. Let's go ahead and throw those 869 00:47:01,560 --> 00:47:05,000 Speaker 1: up on the screen so people can see. You know, 870 00:47:05,040 --> 00:47:08,040 Speaker 1: you're talking about massive oil slick. You're talking about this 871 00:47:08,239 --> 00:47:11,720 Speaker 1: oil goo washing up on the beach. You're talking about 872 00:47:11,760 --> 00:47:16,879 Speaker 1: birds and fish. It's a terrible situation. And what we're 873 00:47:16,960 --> 00:47:19,759 Speaker 1: learning this morning that there are a lot of questions 874 00:47:20,040 --> 00:47:25,279 Speaker 1: about exactly when and how the government knew about what 875 00:47:25,400 --> 00:47:29,600 Speaker 1: was going on, versus when they actually responded and when 876 00:47:29,600 --> 00:47:32,720 Speaker 1: they informed. You know, this is a heavily populated area. 877 00:47:32,760 --> 00:47:34,880 Speaker 1: This is Orange County, California. It's not like we're out 878 00:47:34,880 --> 00:47:37,520 Speaker 1: in the middle of nowhere. When did they inform residents 879 00:47:37,560 --> 00:47:40,000 Speaker 1: and when did they actually know? Reading now from the 880 00:47:40,120 --> 00:47:42,640 Speaker 1: La Times, they have a headline this morning and says 881 00:47:42,680 --> 00:47:46,640 Speaker 1: officials knew about the oil off of the Orange County 882 00:47:46,640 --> 00:47:50,000 Speaker 1: coast Friday, sparking new questions about the response. California federal 883 00:47:50,040 --> 00:47:52,799 Speaker 1: officials had strong indications of oil on the water off 884 00:47:52,800 --> 00:47:56,319 Speaker 1: of Huntington Beach Coast Friday evening. Records were viewed by 885 00:47:56,360 --> 00:47:59,680 Speaker 1: the Time show more than ten hours before the operator 886 00:47:59,719 --> 00:48:03,040 Speaker 1: of an oil platform reported to authorities. That document raises 887 00:48:03,080 --> 00:48:05,239 Speaker 1: more questions about how the massive leak was handled in 888 00:48:05,280 --> 00:48:08,040 Speaker 1: its first hours. Residents have complained about the time it 889 00:48:08,040 --> 00:48:10,640 Speaker 1: took to alert the public about the scope of to catastrophe, 890 00:48:10,840 --> 00:48:14,000 Speaker 1: and that initial communications by government agencies said the situation 891 00:48:14,120 --> 00:48:17,640 Speaker 1: was under control and that oil would not reach land, 892 00:48:17,960 --> 00:48:21,840 Speaker 1: so effectively, residents were smelling the oil. They thought something 893 00:48:21,960 --> 00:48:24,839 Speaker 1: was going on, and the government first of all didn't 894 00:48:24,880 --> 00:48:27,440 Speaker 1: say anything and then said, oh, don't worry, it's not 895 00:48:27,480 --> 00:48:29,759 Speaker 1: going to reach the coastline. Well, now we know this 896 00:48:29,800 --> 00:48:36,120 Speaker 1: is a massive spell, extraordinarily significant, huge, huge environmental catastrophe, 897 00:48:36,360 --> 00:48:38,840 Speaker 1: and it looks like they were incredibly slow to respond 898 00:48:38,960 --> 00:48:41,040 Speaker 1: to alert people what was going on. Yeah, that's right, 899 00:48:41,080 --> 00:48:43,799 Speaker 1: and you know, the CEO or the chief executive amplified. 900 00:48:43,960 --> 00:48:46,160 Speaker 1: They said that their company did not know about that 901 00:48:46,280 --> 00:48:49,520 Speaker 1: leak until Saturday, and that they were unaware on Friday 902 00:48:49,960 --> 00:48:53,320 Speaker 1: of reports from Orange County that any of this was happening. 903 00:48:53,600 --> 00:48:55,759 Speaker 1: But then you go when you look at the US 904 00:48:55,880 --> 00:48:58,800 Speaker 1: Coast Guard is seeing if the company failed to notice 905 00:48:58,880 --> 00:49:01,839 Speaker 1: a drop of pressure sure in the pipeline, which would 906 00:49:01,920 --> 00:49:04,719 Speaker 1: then result in the response that allowed the oil to 907 00:49:04,840 --> 00:49:07,880 Speaker 1: flow for hours and again every single one of those hours. 908 00:49:07,920 --> 00:49:10,000 Speaker 1: It's hard to comprehend for people who don't know a 909 00:49:10,000 --> 00:49:12,400 Speaker 1: lot about oil rigs and oil business and more, every 910 00:49:12,440 --> 00:49:16,440 Speaker 1: hour we're talking about like potentially millions of gallons of oil. 911 00:49:16,560 --> 00:49:19,279 Speaker 1: I mean, just like it's hard to fathom. And I 912 00:49:19,280 --> 00:49:21,279 Speaker 1: remember covering and I grew up in Texas and I've 913 00:49:21,320 --> 00:49:25,080 Speaker 1: seen a lot of the offshore stuff, the BP oil spill. 914 00:49:25,120 --> 00:49:27,040 Speaker 1: I mean, people were saying, how did this amount of 915 00:49:27,040 --> 00:49:29,239 Speaker 1: oil escape? It's like, look, it doesn't even take that 916 00:49:29,320 --> 00:49:32,480 Speaker 1: long for a lot of this work, highly pressurized environment. 917 00:49:32,680 --> 00:49:35,200 Speaker 1: The way the pipeline works, the entire business is kind 918 00:49:35,200 --> 00:49:37,440 Speaker 1: of made so that you could get as much transported 919 00:49:37,440 --> 00:49:39,440 Speaker 1: as possible. So when there is a leak, it's a 920 00:49:39,480 --> 00:49:42,319 Speaker 1: total disaster. So if they had ten hours in which 921 00:49:42,360 --> 00:49:45,279 Speaker 1: they were basically ignoring it, that is I mean it's 922 00:49:45,400 --> 00:49:48,000 Speaker 1: hard to fathom. We don't yet know exactly how much 923 00:49:48,000 --> 00:49:50,520 Speaker 1: oil was there, but like you said, I mean, right 924 00:49:50,560 --> 00:49:53,279 Speaker 1: now we know that the slick is moving. So this 925 00:49:53,320 --> 00:49:56,480 Speaker 1: is Orange County, California. This is millions of people. Yeah, 926 00:49:56,600 --> 00:49:58,600 Speaker 1: I've never actually been to Huntington Beach, but I you know, 927 00:49:58,640 --> 00:50:00,560 Speaker 1: even I know it's a beach town. You know all 928 00:50:00,600 --> 00:50:03,960 Speaker 1: of that. So it could have an impact on local economy. 929 00:50:04,280 --> 00:50:07,879 Speaker 1: People are looking into what exactly caused this. A lot 930 00:50:07,880 --> 00:50:10,200 Speaker 1: of the residents are really pissed off because you know, 931 00:50:10,280 --> 00:50:14,160 Speaker 1: their home is basically covered in oil. Now the biodiversity, 932 00:50:14,440 --> 00:50:18,279 Speaker 1: you know, could be impacted. This also is remarkable because 933 00:50:18,280 --> 00:50:19,959 Speaker 1: when you told me, I was like, what oil spill? 934 00:50:20,000 --> 00:50:21,399 Speaker 1: I didn't even know what you were talking about. Well, 935 00:50:21,400 --> 00:50:23,840 Speaker 1: and that I think I was thinking about that because 936 00:50:24,000 --> 00:50:26,000 Speaker 1: I mean, look, I just played part of CNN report. 937 00:50:26,040 --> 00:50:28,520 Speaker 1: It's not that it gotten no coverage, but this has 938 00:50:28,560 --> 00:50:32,760 Speaker 1: definitely not been a big focus consciousness of national news, 939 00:50:32,960 --> 00:50:35,320 Speaker 1: and I sort of think it speaks to how shitty 940 00:50:35,360 --> 00:50:39,440 Speaker 1: everything is that something is significant as an oil spill, 941 00:50:39,560 --> 00:50:42,400 Speaker 1: which not that long ago. I mean, it's a major 942 00:50:42,440 --> 00:50:45,280 Speaker 1: oil spill that not that long ago would have gotten 943 00:50:45,800 --> 00:50:49,920 Speaker 1: significant coverage people on the ground, I mean segment after segment, 944 00:50:50,000 --> 00:50:52,040 Speaker 1: and people really concerned about what's going on, did you 945 00:50:52,080 --> 00:50:54,160 Speaker 1: get it under control, and what did officials know and 946 00:50:54,160 --> 00:50:58,960 Speaker 1: what like. I just feel like there's so much significant 947 00:50:59,239 --> 00:51:03,320 Speaker 1: bad news and catastrophes, quite a few of them climate related, 948 00:51:03,480 --> 00:51:05,759 Speaker 1: a lot of political system related. I mean, there's just 949 00:51:05,920 --> 00:51:09,080 Speaker 1: so much saturation of the news that people can't even 950 00:51:09,120 --> 00:51:14,040 Speaker 1: focus on yet another disaster. And then you know, then 951 00:51:14,080 --> 00:51:17,400 Speaker 1: you also have the news media would rather cover, you know, 952 00:51:17,600 --> 00:51:22,040 Speaker 1: January sixth and what's Trump doing to do my right exactly, 953 00:51:22,560 --> 00:51:25,480 Speaker 1: rather than these sorts of issues too, which this doesn't 954 00:51:25,480 --> 00:51:28,080 Speaker 1: have a Trump angle, it doesn't have a Biden angle. 955 00:51:28,440 --> 00:51:30,960 Speaker 1: And they really they you know, I don't want to 956 00:51:30,960 --> 00:51:33,160 Speaker 1: say they struggle to cover because they could cover it 957 00:51:33,160 --> 00:51:35,200 Speaker 1: if they wanted to, but they just don't think that 958 00:51:35,200 --> 00:51:37,600 Speaker 1: that's going to be the best thing ultimately for their ratings. 959 00:51:37,960 --> 00:51:40,399 Speaker 1: So I think that's an important thing to note about 960 00:51:40,440 --> 00:51:42,399 Speaker 1: the story. The other thing that I saw, and I'm 961 00:51:42,400 --> 00:51:43,920 Speaker 1: gonna pulled this up because I made a note of 962 00:51:43,960 --> 00:51:47,919 Speaker 1: it from the AP. So the operator of this pipeline 963 00:51:48,080 --> 00:51:51,680 Speaker 1: has been cited seventy two times in the past for 964 00:51:51,840 --> 00:51:56,279 Speaker 1: different violations. According to AP, the spill, of course, has 965 00:51:56,280 --> 00:51:58,919 Speaker 1: already spread roughly six miles, but official estimates it means 966 00:51:58,920 --> 00:52:01,680 Speaker 1: clothes pieches, suspense, and fishing in addition to long term 967 00:52:01,760 --> 00:52:07,520 Speaker 1: environmental destruction. So apparently the operator of this pipeline is 968 00:52:07,640 --> 00:52:10,600 Speaker 1: kind of a known bad or slop. Yeah, every time 969 00:52:10,760 --> 00:52:12,960 Speaker 1: it was the same with BP, we were cited for 970 00:52:13,040 --> 00:52:16,799 Speaker 1: all this stuff subcontractors, but they're just allowed to continue, right, 971 00:52:17,000 --> 00:52:19,759 Speaker 1: I mean, and again this is look, it's it's two 972 00:52:19,760 --> 00:52:23,000 Speaker 1: sets of rules. I mean, that's the consistent theme here, right, 973 00:52:23,360 --> 00:52:26,120 Speaker 1: the FED corruption with this. They can get away with 974 00:52:26,160 --> 00:52:28,000 Speaker 1: it because they have lots of money, They have lots 975 00:52:28,000 --> 00:52:29,920 Speaker 1: of I'm sure they have lots of lobbyists. I'm sure 976 00:52:29,920 --> 00:52:33,000 Speaker 1: they have lots of influence. And so they can break 977 00:52:33,040 --> 00:52:35,919 Speaker 1: the rules and be cited for violations time and time 978 00:52:35,960 --> 00:52:40,040 Speaker 1: and time again, and nothing's really done to change their behavior. 979 00:52:40,120 --> 00:52:43,480 Speaker 1: There's no real consequences which are ultimately paid. And then 980 00:52:43,520 --> 00:52:45,640 Speaker 1: the people that pay the price are you know, the 981 00:52:45,640 --> 00:52:48,319 Speaker 1: people who live in this area. And of course the 982 00:52:48,520 --> 00:52:50,720 Speaker 1: you know, environmental damage which is going to be years 983 00:52:50,719 --> 00:52:54,640 Speaker 1: to ultimately recover. It's a disaster. And when you have 984 00:52:54,880 --> 00:52:58,719 Speaker 1: a known sloppy or bad operator like this, it was 985 00:52:58,800 --> 00:53:02,040 Speaker 1: ultimately a preventable disaster, not just in those immediate hours 986 00:53:02,040 --> 00:53:05,400 Speaker 1: when government officials it looks like, didn't act, but over time, 987 00:53:06,000 --> 00:53:09,400 Speaker 1: Why weren't there consequences? Why wasn't there Why weren't they 988 00:53:09,400 --> 00:53:12,520 Speaker 1: either shut down or you know, significant changes made to 989 00:53:12,560 --> 00:53:15,160 Speaker 1: make sure that you're not vulnerable to something like this again. Yeah, 990 00:53:15,200 --> 00:53:16,920 Speaker 1: and you know I didn't. I was just reading this, 991 00:53:17,160 --> 00:53:19,879 Speaker 1: which is that they had an air show at the 992 00:53:20,080 --> 00:53:23,719 Speaker 1: Huntington Beach with one point five million people there on Saturday, 993 00:53:23,920 --> 00:53:26,440 Speaker 1: the day after the speech. There are a million five people. 994 00:53:26,640 --> 00:53:28,440 Speaker 1: Some of them were getting into the water. It was 995 00:53:28,480 --> 00:53:31,799 Speaker 1: an early, blazing hot Saturday. A lot of people were there, 996 00:53:32,040 --> 00:53:35,040 Speaker 1: people were enjoying themselves. I mean, look, just because the 997 00:53:35,040 --> 00:53:36,640 Speaker 1: oil is not there, it doesn't mean that there isn't 998 00:53:36,680 --> 00:53:38,759 Speaker 1: you know, trace bride product or whatever that could be 999 00:53:38,800 --> 00:53:41,839 Speaker 1: getting onto people. And this is a real scandal, and 1000 00:53:41,880 --> 00:53:44,359 Speaker 1: you know, we will continue to cover it overmind. One 1001 00:53:44,400 --> 00:53:46,520 Speaker 1: of these times, I remember BP was the same story. 1002 00:53:46,560 --> 00:53:49,759 Speaker 1: There's some subcontractor nobody got sighted. Everybody knew it was 1003 00:53:49,800 --> 00:53:51,640 Speaker 1: a disaster. Even the guys on the rig new it 1004 00:53:51,680 --> 00:53:53,600 Speaker 1: was a problem. Then it blew and then oh, all 1005 00:53:53,600 --> 00:53:56,120 Speaker 1: of a sudden, we just found out about it. The 1006 00:53:56,239 --> 00:53:59,319 Speaker 1: building that we covered the in Miami. Im forgetting what 1007 00:53:59,360 --> 00:54:02,279 Speaker 1: it's called. Oh, it's been cited. Everybody knew it was 1008 00:54:02,280 --> 00:54:07,759 Speaker 1: a problem. Now it collapses. Now, okay, what else? There 1009 00:54:07,760 --> 00:54:10,000 Speaker 1: are too many things that come to account. It's like 1010 00:54:10,239 --> 00:54:13,520 Speaker 1: these things stack up. Then the collapse happens. Everyone says, oh, well, 1011 00:54:13,520 --> 00:54:14,839 Speaker 1: there's no way we could have known. It's like, no, 1012 00:54:14,880 --> 00:54:17,360 Speaker 1: we actually could have known quite easily. And you know, 1013 00:54:17,360 --> 00:54:19,520 Speaker 1: the one point five million people who are attending this 1014 00:54:19,600 --> 00:54:22,560 Speaker 1: military air show in Huntington Beach, they had no idea. 1015 00:54:22,600 --> 00:54:25,920 Speaker 1: They weren't told. The government made the decision. Oh well 1016 00:54:25,920 --> 00:54:27,840 Speaker 1: the wind's blown that way, so we should be. It 1017 00:54:27,840 --> 00:54:30,560 Speaker 1: should be good, and the wind changed. See how it 1018 00:54:30,600 --> 00:54:34,800 Speaker 1: goes shocker, never does that, right? Okay. Significant news also 1019 00:54:34,840 --> 00:54:37,640 Speaker 1: coming out of California, out of Hollywood, although this effects 1020 00:54:37,880 --> 00:54:40,880 Speaker 1: workers across the country. So I ast see that's the 1021 00:54:40,920 --> 00:54:45,480 Speaker 1: main union representing uh sort of crew backstage talking to 1022 00:54:45,480 --> 00:54:48,759 Speaker 1: makeup artists. You're talking, you know, people who are doing 1023 00:54:48,800 --> 00:54:51,319 Speaker 1: the lighting, who are running the cameras, all those types 1024 00:54:51,360 --> 00:54:55,760 Speaker 1: of folks. They have voted sixty thousand members to authorize 1025 00:54:55,840 --> 00:54:58,439 Speaker 1: a strike. That doesn't mean that they are on strike yet, 1026 00:54:58,640 --> 00:55:03,080 Speaker 1: but they have authorized that strike. Incredibly significant, could grind 1027 00:55:03,160 --> 00:55:06,480 Speaker 1: Hollywood truly to a halt. Let me read a little 1028 00:55:06,520 --> 00:55:08,920 Speaker 1: bit from this NPR report. Go ahead and throw this 1029 00:55:09,040 --> 00:55:11,840 Speaker 1: up on the streen screen. Hollywood crews vote to authorize 1030 00:55:11,880 --> 00:55:15,719 Speaker 1: a strike for better pay and working conditions. Hollywood film 1031 00:55:15,760 --> 00:55:19,880 Speaker 1: and TV productions could soon shut down if contract negotiations 1032 00:55:19,920 --> 00:55:23,240 Speaker 1: are not resolved. They say. Members from thirteen local unions 1033 00:55:23,280 --> 00:55:25,080 Speaker 1: on the West Coast and twenty three other locals around 1034 00:55:25,120 --> 00:55:29,240 Speaker 1: the country totally sixty thousand workers voted overwhelmingly to authorize 1035 00:55:29,239 --> 00:55:33,000 Speaker 1: a strike if needed that could impact everyone from cinematographers, editors, 1036 00:55:33,040 --> 00:55:35,360 Speaker 1: makeup artist, food workers who feed the cast and crew. 1037 00:55:35,760 --> 00:55:38,240 Speaker 1: Many of them have complained of having work days longer 1038 00:55:38,239 --> 00:55:41,399 Speaker 1: than twelve hours, few breaks, race below eighteen an hour, 1039 00:55:41,520 --> 00:55:44,520 Speaker 1: and miserable working conditions. Some are asking for more compensation 1040 00:55:44,600 --> 00:55:48,359 Speaker 1: for productions that are streamed online and not released theatrically. 1041 00:55:49,040 --> 00:55:51,400 Speaker 1: Since May, the National Union has been trying to hammer 1042 00:55:51,440 --> 00:55:55,960 Speaker 1: out new basic agreements and effectively soccer. There's a I mean, 1043 00:55:55,960 --> 00:55:57,920 Speaker 1: there's a couple of things going on here. First, just 1044 00:55:57,960 --> 00:56:03,440 Speaker 1: at a baseline, these folks are wildly overworked long you know, 1045 00:56:03,719 --> 00:56:06,560 Speaker 1: the people who are in charge think nothing of making 1046 00:56:06,560 --> 00:56:11,080 Speaker 1: them work twelve fourteen, fifteen, eighteen hours, very little time 1047 00:56:11,120 --> 00:56:14,920 Speaker 1: for break. You've got huge inequality on these Hollywood sets. 1048 00:56:14,960 --> 00:56:18,200 Speaker 1: You've got the stars who are making millions, and then 1049 00:56:18,280 --> 00:56:21,680 Speaker 1: you have you know, the crew who, oftentimes, especially at 1050 00:56:21,680 --> 00:56:24,279 Speaker 1: the low levels, like in an expensive place like la 1051 00:56:24,760 --> 00:56:28,000 Speaker 1: are not even making enough really to ultimately survive. You 1052 00:56:28,040 --> 00:56:31,680 Speaker 1: also have a situation where because of the pandemic, Hollywood 1053 00:56:31,719 --> 00:56:35,120 Speaker 1: was effectively shut down, so they had a whole backlog 1054 00:56:35,320 --> 00:56:38,880 Speaker 1: of productions to get to and so now they are 1055 00:56:38,920 --> 00:56:42,839 Speaker 1: just working these crew members to the boat, I mean, 1056 00:56:42,920 --> 00:56:46,120 Speaker 1: grinding them into the ground with these work schedules. So 1057 00:56:46,160 --> 00:56:49,239 Speaker 1: that's creating an issue. And then the other part that's 1058 00:56:49,280 --> 00:56:52,800 Speaker 1: going on here is that originally, when these streaming services 1059 00:56:52,880 --> 00:56:56,000 Speaker 1: Netflix and stuff like that started to come online, they 1060 00:56:56,040 --> 00:56:59,200 Speaker 1: were given some concessions in these contracts so that workers 1061 00:56:59,200 --> 00:57:02,240 Speaker 1: didn't make the same rate working on these Netflix streaming 1062 00:57:02,280 --> 00:57:06,000 Speaker 1: shows and other online shows as they did in traditional 1063 00:57:06,160 --> 00:57:08,880 Speaker 1: TV or theatrical production because it was new and it 1064 00:57:08,920 --> 00:57:11,399 Speaker 1: was seen as sort of like lower budget, et cetera. Well, 1065 00:57:11,960 --> 00:57:17,439 Speaker 1: those services have now made more money than the studios, right, yeah, okay, 1066 00:57:17,640 --> 00:57:21,080 Speaker 1: they've made it. So what these workers are saying is like, hey, okay, 1067 00:57:21,120 --> 00:57:23,960 Speaker 1: we gave you this concession early on, but now we 1068 00:57:24,040 --> 00:57:27,000 Speaker 1: feel like these streaming services, y'all can pony up and 1069 00:57:27,040 --> 00:57:29,840 Speaker 1: pay a living wage and put us up to par 1070 00:57:29,960 --> 00:57:32,840 Speaker 1: with what these other productions are doing. So those are 1071 00:57:32,880 --> 00:57:36,000 Speaker 1: some of the dynamics here. Again because of the number 1072 00:57:36,040 --> 00:57:39,960 Speaker 1: of workers, because you know, we're all very addicted to 1073 00:57:40,120 --> 00:57:46,160 Speaker 1: our entertainment in this country, it's incredibly significant. I also 1074 00:57:46,640 --> 00:57:49,160 Speaker 1: wanted a feature. We've got more perfect. Union has been 1075 00:57:49,200 --> 00:57:52,040 Speaker 1: following what's going on here. They put out a great, 1076 00:57:52,760 --> 00:57:56,720 Speaker 1: great set of videos about the potential strike and featuring 1077 00:57:56,760 --> 00:58:00,400 Speaker 1: some of the workers involved and what they're concerns and are. 1078 00:58:00,440 --> 00:58:01,960 Speaker 1: Let's take a listen to a little bit of that. 1079 00:58:02,520 --> 00:58:06,520 Speaker 1: There's a hegemony of exploitation within the film industry. You 1080 00:58:06,640 --> 00:58:10,760 Speaker 1: have people who are multimillionaires, who have overall deals who 1081 00:58:10,880 --> 00:58:15,160 Speaker 1: are worth ten, twenty, thirty fifty million dollars. You have 1082 00:58:15,280 --> 00:58:19,000 Speaker 1: pas who if the minimum wage is fifteen, they're getting fifteen. 1083 00:58:19,000 --> 00:58:31,800 Speaker 1: If the minimum wage is ten, they're making ten. A 1084 00:58:31,840 --> 00:58:34,720 Speaker 1: film set is a place where you can basically see 1085 00:58:34,800 --> 00:58:37,720 Speaker 1: like a cross section of all class dynamics within a 1086 00:58:37,760 --> 00:58:40,680 Speaker 1: singular room. It's so messed up when you're in a 1087 00:58:40,800 --> 00:58:45,120 Speaker 1: zoom room and you have people talking about how they're 1088 00:58:45,160 --> 00:58:51,440 Speaker 1: renovating their vacation house and you're quietly thinking to yourself, 1089 00:58:53,000 --> 00:58:55,479 Speaker 1: if I cut back to eating one meal a day, 1090 00:58:56,080 --> 00:59:02,280 Speaker 1: can I afford to can't afford to pay my electricity 1091 00:59:02,320 --> 00:59:07,439 Speaker 1: bill this month. I started to accumulate so much debt 1092 00:59:07,680 --> 00:59:09,520 Speaker 1: in order to stick around on the job. And there 1093 00:59:09,560 --> 00:59:13,560 Speaker 1: is even a time during the pandemic where my unemployed 1094 00:59:13,600 --> 00:59:17,440 Speaker 1: friends who got laid off through COVID was earning more 1095 00:59:17,480 --> 00:59:21,600 Speaker 1: money than how much I was earning. My day is 1096 00:59:21,720 --> 00:59:26,600 Speaker 1: never not so I think they put it very well. 1097 00:59:26,680 --> 00:59:29,080 Speaker 1: I mean that class dynamic because it's easy to think 1098 00:59:29,120 --> 00:59:31,760 Speaker 1: of Hollywood as all glitz and gammer. No, these are 1099 00:59:31,760 --> 00:59:35,000 Speaker 1: the people the background that actually make this all work. 1100 00:59:36,240 --> 00:59:39,720 Speaker 1: And so negotiations have restarted. We'll see if there's actually 1101 00:59:39,760 --> 00:59:41,479 Speaker 1: a strikeer if they're able to work it out before 1102 00:59:41,480 --> 00:59:43,280 Speaker 1: it comes to that. But that's where we act. Yeah, 1103 00:59:43,320 --> 00:59:45,160 Speaker 1: it really is stunning, you know, I was reading here 1104 00:59:45,280 --> 00:59:48,840 Speaker 1: about how they routinely do not get meal breaks, they 1105 00:59:48,840 --> 00:59:52,520 Speaker 1: don't get break time, they have work for the lowest 1106 00:59:52,520 --> 00:59:55,240 Speaker 1: possible wages. One of the reasons that ninety eight percent 1107 00:59:55,360 --> 00:59:58,160 Speaker 1: voted to authorize a strike was because everybody's had to 1108 00:59:58,160 --> 00:59:59,959 Speaker 1: at one point be the low man on the totem pole. 1109 01:00:00,240 --> 01:00:02,800 Speaker 1: And currently, under the current system, the low man on 1110 01:00:02,800 --> 01:00:05,160 Speaker 1: the totem pold is not paid a living wage for 1111 01:00:05,200 --> 01:00:08,320 Speaker 1: the city of Los Angeles or Los Angeles County. So 1112 01:00:08,360 --> 01:00:10,160 Speaker 1: in many cases, you know, I was reading some of 1113 01:00:10,160 --> 01:00:13,160 Speaker 1: these guys a driving three four hours like into work, 1114 01:00:13,560 --> 01:00:15,240 Speaker 1: work in twelve fifteen hours. I mean, what do you 1115 01:00:15,320 --> 01:00:16,760 Speaker 1: do at that point? You've got to sleep in your 1116 01:00:16,840 --> 01:00:19,840 Speaker 1: car something, just to show up at work every day, 1117 01:00:19,840 --> 01:00:22,120 Speaker 1: and they'll work like a month on, you know, month off. 1118 01:00:22,280 --> 01:00:26,080 Speaker 1: The entire industry was decimated during COVID, but we know 1119 01:00:26,200 --> 01:00:29,520 Speaker 1: that these were the people who got actually hurt. Everybody 1120 01:00:29,520 --> 01:00:32,160 Speaker 1: else had plenty of money, the studios, the streaming giants 1121 01:00:32,200 --> 01:00:34,520 Speaker 1: who hasn't been watching more Netflix, right, they've been making 1122 01:00:34,520 --> 01:00:36,920 Speaker 1: more money than ever they actually got. They beat their 1123 01:00:36,960 --> 01:00:39,560 Speaker 1: expectations by I don't even know how much. I don't know, 1124 01:00:39,680 --> 01:00:41,920 Speaker 1: like all of you in probably glued, just like the 1125 01:00:41,920 --> 01:00:46,240 Speaker 1: squid game recently. So they've got all kinds of new 1126 01:00:46,400 --> 01:00:49,680 Speaker 1: subscriptions and money rolling in. They should not be paying 1127 01:00:49,920 --> 01:00:53,920 Speaker 1: lesser wages on those. It's not twenty ten anymore, right, 1128 01:00:54,000 --> 01:00:58,000 Speaker 1: Like if anything, Netflix, Amazon, Hbo Max, they are the 1129 01:00:58,000 --> 01:01:01,360 Speaker 1: future of the entertainment industry. And you know a lot 1130 01:01:01,400 --> 01:01:05,160 Speaker 1: of times what the companies and what management will argue 1131 01:01:05,160 --> 01:01:07,280 Speaker 1: with these strikes is like you know, we've been talking 1132 01:01:07,280 --> 01:01:11,120 Speaker 1: about the Alabama strike with the coal miners, and they'll say, well, 1133 01:01:11,160 --> 01:01:13,720 Speaker 1: this is kind of you know, times are tough. Coal 1134 01:01:13,720 --> 01:01:16,200 Speaker 1: industry is on decline. We just can't afford to pay 1135 01:01:16,200 --> 01:01:19,000 Speaker 1: the same thing you can afford to pay these people, 1136 01:01:19,160 --> 01:01:23,240 Speaker 1: like you're making money hand over fist. There is maybe 1137 01:01:23,560 --> 01:01:26,760 Speaker 1: not a more profitable industry, probably the pharmaceutical companies. There 1138 01:01:26,760 --> 01:01:28,600 Speaker 1: probably are some more profitable industry, but this is a 1139 01:01:28,680 --> 01:01:31,920 Speaker 1: highly profitable industry. If you want to pay your people 1140 01:01:32,240 --> 01:01:35,280 Speaker 1: so that they can live closer by, so that they 1141 01:01:35,320 --> 01:01:38,120 Speaker 1: can you know, have a break, like include that in 1142 01:01:38,160 --> 01:01:41,560 Speaker 1: your schedule. So many people there's an Instagram that's tracking 1143 01:01:41,600 --> 01:01:44,360 Speaker 1: the stories of these crew members. So many of them 1144 01:01:44,400 --> 01:01:48,080 Speaker 1: talked about like falling asleep on the way home, just 1145 01:01:48,320 --> 01:01:53,560 Speaker 1: insane at working twenty three hours straight and given, you know, 1146 01:01:53,680 --> 01:01:57,280 Speaker 1: with with no effectively like power to say no to that, 1147 01:01:58,120 --> 01:02:00,960 Speaker 1: because if you won't do it, then someone also come 1148 01:02:01,000 --> 01:02:03,960 Speaker 1: in and fill your spot. So that's why unions ultimately 1149 01:02:04,000 --> 01:02:05,920 Speaker 1: are so important. And I also want to highlight the 1150 01:02:05,920 --> 01:02:09,760 Speaker 1: bigger picture here, which is there are a lot of 1151 01:02:09,840 --> 01:02:14,360 Speaker 1: strikes and potential strikes right now in the country. I mean, 1152 01:02:14,480 --> 01:02:17,919 Speaker 1: it really does seem like a real wave of sort 1153 01:02:17,960 --> 01:02:25,040 Speaker 1: of worker agitation, labor militancy, renewed interest in unionization coming 1154 01:02:25,120 --> 01:02:29,200 Speaker 1: out of the COVID pandemic. Jonah Ferbin, who's with Labor Notes, 1155 01:02:29,560 --> 01:02:31,720 Speaker 1: put up a Facebook post that just had a list 1156 01:02:31,880 --> 01:02:34,640 Speaker 1: of what all's going on. He's got a union roundup 1157 01:02:34,680 --> 01:02:37,640 Speaker 1: that he puts out on strike. You've got two thousand 1158 01:02:37,680 --> 01:02:42,040 Speaker 1: Buffalo hospital workers, two thousand washing carpenters, one thousand Alabama minors, 1159 01:02:42,320 --> 01:02:46,360 Speaker 1: Massachusetts nurses, West Virginia steel workers, Kentucky with you workers, 1160 01:02:46,440 --> 01:02:51,320 Speaker 1: Denver janitors, LA aerospace manufacturers, Reno bus drivers, Pennsylvania teachers, 1161 01:02:51,600 --> 01:02:56,040 Speaker 1: San Antonio symphony musicians, West Virginia machinists. And then he's 1162 01:02:56,040 --> 01:02:58,920 Speaker 1: got a list of potential strikes including these sixty thousand 1163 01:02:58,960 --> 01:03:02,000 Speaker 1: film and TV workers, thirty seven thousand Kaiser healthcare workers, 1164 01:03:02,040 --> 01:03:05,440 Speaker 1: ten thousand John Deer manufacturing workers, and it goes on. 1165 01:03:06,200 --> 01:03:09,600 Speaker 1: So there's been no coverage of this, of course, of 1166 01:03:09,640 --> 01:03:13,600 Speaker 1: any of this, very very little in mainstream news. But 1167 01:03:13,800 --> 01:03:17,840 Speaker 1: it really seems like there is something significant bubbling here 1168 01:03:18,040 --> 01:03:20,760 Speaker 1: in terms of worker saying I'm not going to just 1169 01:03:20,840 --> 01:03:24,040 Speaker 1: accept that this is the way things are. I'm not 1170 01:03:24,120 --> 01:03:26,440 Speaker 1: going to just be out here on my own and 1171 01:03:26,480 --> 01:03:29,040 Speaker 1: not have the power of a union. I'm not going 1172 01:03:29,120 --> 01:03:32,840 Speaker 1: to just submit to endless work days and not having 1173 01:03:32,840 --> 01:03:36,720 Speaker 1: a livable wage. There's something going on across the country. 1174 01:03:37,440 --> 01:03:44,360 Speaker 1: I think it's an incredibly important and wildly underreported voting 1175 01:03:44,360 --> 01:03:47,320 Speaker 1: to authorize the strike. As you pointed, ninety eight percent 1176 01:03:48,040 --> 01:03:51,120 Speaker 1: and turnout with something like ninety something percent, So it 1177 01:03:51,160 --> 01:03:55,560 Speaker 1: was huge turnout and almost everybody voted to authorize this, 1178 01:03:55,840 --> 01:03:58,480 Speaker 1: authorize the strike. This is part of a larger story 1179 01:03:58,720 --> 01:04:02,040 Speaker 1: that's going on with workers across this country. Absolutely right. Wow, 1180 01:04:02,200 --> 01:04:04,200 Speaker 1: you guys must really like listening to our voices. Well, 1181 01:04:04,240 --> 01:04:06,240 Speaker 1: I know this is annoying. Instead of making you listen 1182 01:04:06,280 --> 01:04:08,800 Speaker 1: to a Viagra commercial. When you're done, check out the 1183 01:04:08,840 --> 01:04:11,560 Speaker 1: other podcast I do with Marshal Kasloff called the re Alignment. 1184 01:04:11,600 --> 01:04:14,040 Speaker 1: We talk a lot about the deeper issues that are changing, 1185 01:04:14,160 --> 01:04:17,200 Speaker 1: realigning in American society. You always need more Crystal and 1186 01:04:17,240 --> 01:04:20,760 Speaker 1: Zagur in your daily lives. Take care, guys, All right, Sager, 1187 01:04:20,840 --> 01:04:23,280 Speaker 1: what are you looking at? Well? At this point, it's 1188 01:04:23,320 --> 01:04:25,600 Speaker 1: a cliche take that during the course of this pandemic, 1189 01:04:25,640 --> 01:04:28,200 Speaker 1: for a variety of reasons, the phrase trust the science 1190 01:04:28,280 --> 01:04:31,400 Speaker 1: became more of a cultural statement and a media propaganda 1191 01:04:31,440 --> 01:04:35,040 Speaker 1: effort than it ever was about actually trusting the scientific 1192 01:04:35,080 --> 01:04:38,800 Speaker 1: process itself. No person embodies this tragic turn of events 1193 01:04:39,000 --> 01:04:41,800 Speaker 1: more than doctor Anthony Fauci. He entered the pandemic a 1194 01:04:41,880 --> 01:04:44,760 Speaker 1: trusted medical advisor to the President of the United States. 1195 01:04:45,000 --> 01:04:47,720 Speaker 1: He was above reproach and with whom his words could 1196 01:04:47,720 --> 01:04:50,840 Speaker 1: find comfort the American people at a time of crisis. Now, 1197 01:04:50,960 --> 01:04:53,360 Speaker 1: what can really be described today as nothing than a 1198 01:04:53,400 --> 01:04:56,600 Speaker 1: sneering clown. Fauci, over the course of the last two years, 1199 01:04:56,600 --> 01:04:59,680 Speaker 1: has sacrificed his trust for the American people to a 1200 01:04:59,720 --> 01:05:02,480 Speaker 1: much it's more important trust to him. That's trust with 1201 01:05:02,520 --> 01:05:06,320 Speaker 1: the mainstream media, the Democratic Party elites, and really with Hollywood. 1202 01:05:06,440 --> 01:05:09,520 Speaker 1: To turn himself into an icon all effectively to quash 1203 01:05:09,760 --> 01:05:13,360 Speaker 1: serious inquiry into his own conduct before the pandemic, his 1204 01:05:13,480 --> 01:05:15,680 Speaker 1: green lighting of grant money to the lab which may 1205 01:05:15,680 --> 01:05:18,600 Speaker 1: have caused a pandemic in the first place. That's gone 1206 01:05:18,800 --> 01:05:21,920 Speaker 1: ancient history. His consistent use of his platform and media 1207 01:05:21,960 --> 01:05:25,200 Speaker 1: trust to push his absurd and insane COVID policies which 1208 01:05:25,200 --> 01:05:28,480 Speaker 1: are ripping the country apart. And finally, now after literally 1209 01:05:28,520 --> 01:05:31,640 Speaker 1: having children's books being written about Fauci, after people in 1210 01:05:31,640 --> 01:05:34,960 Speaker 1: my neighborhood who have real signs erected that say thank you, 1211 01:05:35,040 --> 01:05:39,120 Speaker 1: doctor Fauci, after nearly a year of media treatment, Hollywood 1212 01:05:39,160 --> 01:05:43,320 Speaker 1: itself is explicitly stepping in Disney Plus using its ownership 1213 01:05:43,360 --> 01:05:47,560 Speaker 1: of National Geographic to make a hagiographic film about the man. 1214 01:05:48,000 --> 01:05:51,040 Speaker 1: Just take a look at this thing. When I think 1215 01:05:51,080 --> 01:05:55,160 Speaker 1: about my dad growing up, I certainly think about that seriousness, 1216 01:05:56,000 --> 01:05:59,720 Speaker 1: but very few people get to see him. He's funny, 1217 01:06:00,120 --> 01:06:06,640 Speaker 1: weird and really playful. God help us. In nineteen eighty one, 1218 01:06:06,880 --> 01:06:12,000 Speaker 1: the HIV AIDS was evolving rapidly and frighteningly. There was 1219 01:06:12,160 --> 01:06:15,760 Speaker 1: anger at the government's response when you got sick, you 1220 01:06:15,800 --> 01:06:22,520 Speaker 1: were gone best. It's affecting you, yeah, boy, post traumatic stress, 1221 01:06:22,560 --> 01:06:28,360 Speaker 1: and when COVID hit. He became this target. My dad said, 1222 01:06:28,480 --> 01:06:30,439 Speaker 1: we're going to get through this whole thing, and he's 1223 01:06:30,480 --> 01:06:32,960 Speaker 1: held back. You don't do it because you want to 1224 01:06:32,960 --> 01:06:35,120 Speaker 1: make money. You don't do it for the glory. You 1225 01:06:35,280 --> 01:06:38,120 Speaker 1: do it because you care. When you're involved in a 1226 01:06:38,280 --> 01:06:43,000 Speaker 1: race to stop a horrible disease, you're always feel you're 1227 01:06:43,040 --> 01:06:51,600 Speaker 1: not doing things quickly enough. Now I find this is 1228 01:06:51,600 --> 01:06:55,080 Speaker 1: pretty gross for several reasons. Number One, doctor Fauci's human being. 1229 01:06:55,200 --> 01:06:57,520 Speaker 1: He's not a god. He's never been elected to anything. 1230 01:06:57,800 --> 01:07:00,680 Speaker 1: As for so called PTSD. A lot of people actually 1231 01:07:00,680 --> 01:07:03,680 Speaker 1: involved in the AIDS epidemic are to this day actually 1232 01:07:03,680 --> 01:07:06,240 Speaker 1: pretty upset about his handling of that. You can go 1233 01:07:06,280 --> 01:07:11,000 Speaker 1: ask them. In other words, he's an official, not above reproach, 1234 01:07:11,360 --> 01:07:14,920 Speaker 1: and yet Hollywood and Disney want to create him into 1235 01:07:15,000 --> 01:07:18,360 Speaker 1: a hero. But here's why it's especially galling that National 1236 01:07:18,400 --> 01:07:22,880 Speaker 1: Geographic is doing this. National Geographic is the organization owned 1237 01:07:22,880 --> 01:07:26,560 Speaker 1: by Disney creating this documentary about Fauci is the exact 1238 01:07:26,640 --> 01:07:30,080 Speaker 1: place where Fauci actually told one of his most pernicious lies. 1239 01:07:30,360 --> 01:07:33,800 Speaker 1: In May of twenty twenty, Fauci definitively told Nat Geo 1240 01:07:34,120 --> 01:07:37,400 Speaker 1: there is no scientific evidence that coronavirus was made in 1241 01:07:37,400 --> 01:07:40,440 Speaker 1: a Chinese lab. Keep in mind that is five months 1242 01:07:40,440 --> 01:07:42,800 Speaker 1: after he received an email in January of twenty twenty 1243 01:07:42,960 --> 01:07:47,760 Speaker 1: saying that the coronavirus was quote not consistent with evolutionary theory. Now, 1244 01:07:47,800 --> 01:07:51,080 Speaker 1: Fauci's declarative statement on that day was taken with a 1245 01:07:51,080 --> 01:07:53,800 Speaker 1: whole lot more credibility at the time than anything he 1246 01:07:53,880 --> 01:07:56,440 Speaker 1: says today. Try and remember May of twenty twenty, we 1247 01:07:56,480 --> 01:07:59,320 Speaker 1: are still in lockdown. There was a lot of uncertainty 1248 01:07:59,320 --> 01:08:02,760 Speaker 1: about the corona virus. Fauci's declaration was considered not only 1249 01:08:02,800 --> 01:08:05,760 Speaker 1: headline news, but as the basis through which people were 1250 01:08:05,760 --> 01:08:08,640 Speaker 1: removed from social media for posting about it and for 1251 01:08:08,760 --> 01:08:12,400 Speaker 1: a number of fake fact checks from the mainstream media. 1252 01:08:12,560 --> 01:08:15,640 Speaker 1: It was only after Trump lost the election that more 1253 01:08:15,720 --> 01:08:19,080 Speaker 1: open inquiry into the laplague theory was even really allowed 1254 01:08:19,120 --> 01:08:21,160 Speaker 1: in the public square. And the state of the race 1255 01:08:21,240 --> 01:08:24,080 Speaker 1: right now is basically that media is ignoring it. So 1256 01:08:24,160 --> 01:08:27,920 Speaker 1: Number one nat GEO is doing a documentary hailing doctor 1257 01:08:27,960 --> 01:08:32,040 Speaker 1: Fauci after he literally lied on their platform. They are 1258 01:08:32,080 --> 01:08:36,400 Speaker 1: rewarding him with effectively billions of dollars in free reputational defense. 1259 01:08:36,680 --> 01:08:39,600 Speaker 1: But what's even worse than that. What's worse is that 1260 01:08:39,640 --> 01:08:42,400 Speaker 1: they are actually proving one of Fauci's most infamous moments, 1261 01:08:42,680 --> 01:08:45,400 Speaker 1: in which he declared that an attack on Fauci is 1262 01:08:45,439 --> 01:08:48,599 Speaker 1: an attack on science itself. Just remember that one as 1263 01:08:48,680 --> 01:08:53,280 Speaker 1: attacks on me, quite frankly, are attacks on science, because 1264 01:08:53,400 --> 01:08:56,640 Speaker 1: all of the things that I have spoken about consistently 1265 01:08:56,720 --> 01:09:00,639 Speaker 1: from the very beginning, have been fundamentally based on science. 1266 01:09:01,240 --> 01:09:05,960 Speaker 1: Sometimes those things were inconvenient truths for people, and there 1267 01:09:06,040 --> 01:09:09,200 Speaker 1: was pushback against me. So if you are trying to 1268 01:09:10,320 --> 01:09:14,120 Speaker 1: get at me as a public health official and a scientist, 1269 01:09:14,600 --> 01:09:17,680 Speaker 1: you're really attacking not only doctor Anthony Fauci, you are 1270 01:09:17,720 --> 01:09:22,360 Speaker 1: attacking science, and anybody that looks at what's going on 1271 01:09:23,240 --> 01:09:27,360 Speaker 1: clearly sees that you have to be asleep not to 1272 01:09:27,479 --> 01:09:31,320 Speaker 1: see that that is what's going on. Science and the 1273 01:09:31,479 --> 01:09:37,559 Speaker 1: truth are being attacked Hollywood news media before them, much 1274 01:09:37,600 --> 01:09:40,200 Speaker 1: of the public. They have now made Fauci the incarnate 1275 01:09:40,240 --> 01:09:43,479 Speaker 1: of science itself. Now you might say, who cares, let's 1276 01:09:43,520 --> 01:09:46,400 Speaker 1: just not listen to him anymore. Hey, listen, I agree. 1277 01:09:46,600 --> 01:09:49,200 Speaker 1: Here's the problem. The government of the United States, and 1278 01:09:49,240 --> 01:09:52,439 Speaker 1: the Biden administration in particular, is held hostage by Fauci, 1279 01:09:52,640 --> 01:09:55,320 Speaker 1: because Biden voters trust Fauci a hell of a lot 1280 01:09:55,360 --> 01:09:58,240 Speaker 1: more than they even trust Biden himself. If the Biden 1281 01:09:58,240 --> 01:10:01,120 Speaker 1: administration were to run count or to the public advice 1282 01:10:01,160 --> 01:10:04,280 Speaker 1: of Fauci, they would face backlash. And the more famous 1283 01:10:04,280 --> 01:10:07,400 Speaker 1: that the guy gets, the more hagiographic treatment, the more 1284 01:10:07,400 --> 01:10:10,439 Speaker 1: he's turned into a living god, the more all of 1285 01:10:10,479 --> 01:10:13,920 Speaker 1: our institutions will be held hostage by him. Let's say, 1286 01:10:13,920 --> 01:10:16,679 Speaker 1: for instance, that Fauci says it's too early to tell 1287 01:10:16,880 --> 01:10:19,519 Speaker 1: if we can gather for Christmas, something that he said 1288 01:10:19,840 --> 01:10:22,160 Speaker 1: I don't know two days ago that anyone in the 1289 01:10:22,200 --> 01:10:25,320 Speaker 1: government who is now facing consequences if they say, well, 1290 01:10:25,360 --> 01:10:28,000 Speaker 1: hold on, doctor Fauci. We have a vaccine that works 1291 01:10:28,040 --> 01:10:30,640 Speaker 1: pretty well. COVID cases are down thirty five percent in 1292 01:10:30,680 --> 01:10:33,000 Speaker 1: the last month, and all things considered, it looks pretty 1293 01:10:33,000 --> 01:10:35,920 Speaker 1: clear that COVID will be relatively endemic for the foreseeable future. 1294 01:10:36,280 --> 01:10:38,040 Speaker 1: We could live with it with the protection we have. 1295 01:10:38,479 --> 01:10:41,120 Speaker 1: You would be attacking science itself if he said those things, 1296 01:10:41,439 --> 01:10:43,960 Speaker 1: even though they're all facts. Fauci's status as a hero 1297 01:10:44,040 --> 01:10:47,680 Speaker 1: has precluded many honest conversations in media around what is 1298 01:10:47,760 --> 01:10:51,960 Speaker 1: acceptable pandemic response and the more he is venerated, celebrated, 1299 01:10:52,120 --> 01:10:54,840 Speaker 1: the more power he wields within the government. That is 1300 01:10:54,960 --> 01:10:57,920 Speaker 1: bad for science. It is actually bad for anyone who 1301 01:10:58,000 --> 01:11:00,439 Speaker 1: is actually looking for answers as to the question of 1302 01:11:00,479 --> 01:11:03,640 Speaker 1: what exactly went down in the Wuhans Institute of Virology. 1303 01:11:03,960 --> 01:11:06,800 Speaker 1: What role did doctor Anthony Fauci play, What role did 1304 01:11:06,840 --> 01:11:09,200 Speaker 1: the National Institute of Health play? What did we know 1305 01:11:09,320 --> 01:11:12,280 Speaker 1: certain facts? When did he not? It doesn't matter at 1306 01:11:12,280 --> 01:11:15,080 Speaker 1: this point. Fauci could literally admit on TV he funded 1307 01:11:15,120 --> 01:11:17,120 Speaker 1: the Wuhan Lab that he knew it was gain of 1308 01:11:17,160 --> 01:11:21,280 Speaker 1: Function Research and National Geographic and MSNBC would probably do 1309 01:11:21,360 --> 01:11:24,080 Speaker 1: segments about how really it was the big bag GOP 1310 01:11:24,600 --> 01:11:28,599 Speaker 1: or bad independent shows like Breaking Points. We're spreading fake news. 1311 01:11:28,960 --> 01:11:32,160 Speaker 1: That's the unfortunate reality that we found ourselves living in 1312 01:11:32,360 --> 01:11:34,360 Speaker 1: and we will be paying the price for this for 1313 01:11:34,400 --> 01:11:37,479 Speaker 1: many years to come. I mean, could you not help 1314 01:11:37,600 --> 01:11:40,120 Speaker 1: but roll your eyes up the glory thing? He doesn't 1315 01:11:40,160 --> 01:11:42,240 Speaker 1: do it for this one more thing, I promise. Just 1316 01:11:42,280 --> 01:11:44,439 Speaker 1: wanted to make sure you knew about my podcast with 1317 01:11:44,520 --> 01:11:47,320 Speaker 1: Kyle Kolinski. It's called Crystal, Kyle and Friends, where we 1318 01:11:47,360 --> 01:11:50,840 Speaker 1: do long form interviews with people like Nom Chomsky, Cornell West, 1319 01:11:50,880 --> 01:11:54,400 Speaker 1: and Glenn Greenwald. You can listen on any podcast platform, 1320 01:11:54,640 --> 01:11:57,000 Speaker 1: or you can subscribe over on substack to get the 1321 01:11:57,080 --> 01:11:59,240 Speaker 1: video a day early. We're going to stop bugging you 1322 01:11:59,280 --> 01:12:02,720 Speaker 1: now enjoy Crystal. What are you taking a look at? Well? 1323 01:12:02,760 --> 01:12:05,800 Speaker 1: The Daily Beast has taken aim at comedian, actor and 1324 01:12:05,840 --> 01:12:08,880 Speaker 1: podcaster Russell Brand and a new piece. They say he 1325 01:12:08,920 --> 01:12:13,160 Speaker 1: has become a powerful voice for anti vaxers. They accused 1326 01:12:13,240 --> 01:12:16,519 Speaker 1: him of quote going down the rabbit hole. But what's more, 1327 01:12:16,680 --> 01:12:20,360 Speaker 1: they contacted YouTube in an apparent effort to get him 1328 01:12:20,439 --> 01:12:23,040 Speaker 1: banned from the platform or at least have his content centered. 1329 01:12:23,080 --> 01:12:25,320 Speaker 1: So they really went the extra mile here. These are 1330 01:12:25,360 --> 01:12:27,720 Speaker 1: pretty serious charges. So let's take a look at the 1331 01:12:27,840 --> 01:12:32,200 Speaker 1: evidence that they offer. Here is charge number one. Quote. Recently, 1332 01:12:32,240 --> 01:12:34,920 Speaker 1: Brand has found a loyal fan base in right wing 1333 01:12:35,000 --> 01:12:38,599 Speaker 1: conservatives and anti vaxers, who have flocked to his YouTube 1334 01:12:38,600 --> 01:12:40,760 Speaker 1: and Facebook accounts, hailing the forty six year old as 1335 01:12:40,760 --> 01:12:43,479 Speaker 1: a so called voice of reason. He's played heavy to 1336 01:12:43,560 --> 01:12:46,920 Speaker 1: this fan base, interviewing right wing trolls Ben Shapiro and 1337 01:12:47,000 --> 01:12:50,000 Speaker 1: Candice Owens, although he does agree disagree with them on 1338 01:12:50,040 --> 01:12:52,840 Speaker 1: certain points. In June, he asked his watchers if he 1339 01:12:52,840 --> 01:12:55,920 Speaker 1: should accept Fox News' invitation to appear on the network. 1340 01:12:56,000 --> 01:12:59,320 Speaker 1: Most agreed he should. I would suggest Tucker he's very fair. 1341 01:12:59,760 --> 01:13:04,360 Speaker 1: One fan commented, so in this paragraph, the crimes of 1342 01:13:04,400 --> 01:13:08,160 Speaker 1: brand are that he hasn't purged his audience of all 1343 01:13:08,200 --> 01:13:12,000 Speaker 1: possible conservatives or anti vaxxers, that he dared to speak 1344 01:13:12,040 --> 01:13:15,519 Speaker 1: with prominent conservatives on his show, and that one person 1345 01:13:15,680 --> 01:13:19,800 Speaker 1: commented in the comments section that Tucker Carlson is fair. 1346 01:13:20,400 --> 01:13:22,880 Speaker 1: There is maybe nothing I hate more than this type 1347 01:13:22,880 --> 01:13:25,920 Speaker 1: of analysis, this idea that you're somehow responsible for whatever 1348 01:13:25,960 --> 01:13:29,439 Speaker 1: YouTube commenter has to say, or somehow endorsing every view 1349 01:13:29,479 --> 01:13:31,840 Speaker 1: of the people you bring on your show. Now, I 1350 01:13:31,880 --> 01:13:33,840 Speaker 1: would say, if you invite someone like Candas Owarns or 1351 01:13:33,840 --> 01:13:36,280 Speaker 1: Ben Shapir on your show and you've got significant disagreements, 1352 01:13:36,320 --> 01:13:38,880 Speaker 1: then you've probably got an obligation to challenge him. But 1353 01:13:39,160 --> 01:13:42,200 Speaker 1: he does that. In fact, he did a superb job 1354 01:13:42,240 --> 01:13:46,439 Speaker 1: dismantling Candas's ridiculous zombie Reagan talking points. Just watch and 1355 01:13:46,479 --> 01:13:48,680 Speaker 1: judge for yourself. Think of animals in the while, you 1356 01:13:48,640 --> 01:13:50,120 Speaker 1: even have to go to humanity. We can just think 1357 01:13:50,120 --> 01:13:52,360 Speaker 1: about animals in the wile. What is our human instinct. Okay, 1358 01:13:52,640 --> 01:13:54,760 Speaker 1: are you going to make sure that everyone on this 1359 01:13:54,840 --> 01:13:56,720 Speaker 1: block is fed before you feed yourself? Do you go 1360 01:13:56,760 --> 01:13:58,599 Speaker 1: around and say, hey, have you had breakfast this morning? 1361 01:13:59,200 --> 01:14:01,120 Speaker 1: You had brekfast this morning? Hey, are you going to 1362 01:14:01,200 --> 01:14:02,519 Speaker 1: make sure you're eating if you have and if you 1363 01:14:02,600 --> 01:14:04,880 Speaker 1: have an excess? Of course you're going to do the 1364 01:14:04,920 --> 01:14:07,600 Speaker 1: human the human condition, and our incentives are going to 1365 01:14:07,600 --> 01:14:10,479 Speaker 1: be want to help people to one axis. The richest 1366 01:14:10,640 --> 01:14:13,880 Speaker 1: fifteen people on the planet have got as much accumulative 1367 01:14:13,920 --> 01:14:19,120 Speaker 1: wealth as the poorest five billion. But that's an exit. Okay, 1368 01:14:19,120 --> 01:14:22,679 Speaker 1: excuse me, first and foremost, you're talking about literally point 1369 01:14:22,840 --> 01:14:25,519 Speaker 1: zero zero zero zero one percent of the world's what 1370 01:14:25,600 --> 01:14:28,240 Speaker 1: you're talking about. Okay, But and what are and what 1371 01:14:28,280 --> 01:14:30,640 Speaker 1: are they preaching? What do they want socialism? So that 1372 01:14:30,680 --> 01:14:32,639 Speaker 1: nobody else is the opportunity to become what they've become. 1373 01:14:32,800 --> 01:14:37,559 Speaker 1: They're the ones that are pushing. Are you kidding? George 1374 01:14:37,560 --> 01:14:40,479 Speaker 1: Soros doesn't want socialist policies. Jeff Bezos, the richest man 1375 01:14:40,520 --> 01:14:42,880 Speaker 1: in the world, doesn't want socialist policies. They want to 1376 01:14:42,920 --> 01:14:44,560 Speaker 1: make sure that no one else has the opportunity to 1377 01:14:44,560 --> 01:14:46,640 Speaker 1: get to They to discuss our language, me and you 1378 01:14:46,720 --> 01:14:50,559 Speaker 1: because what here's what my socialism looks like. Take Jeff 1379 01:14:50,600 --> 01:14:54,080 Speaker 1: Bezos as well. From him except for a reasonable stipper 1380 01:14:54,120 --> 01:14:55,920 Speaker 1: in for him to live on something like you know, 1381 01:14:55,920 --> 01:14:57,439 Speaker 1: and that you can have ten million a year or 1382 01:14:57,439 --> 01:15:04,160 Speaker 1: something tax Amazon to the Bezos as a socialist. That 1383 01:15:04,280 --> 01:15:06,880 Speaker 1: is hilarious. Anyway, I think it is clear this was 1384 01:15:06,920 --> 01:15:09,720 Speaker 1: not exactly some softball Candice Own's love fest pandering to 1385 01:15:09,760 --> 01:15:13,559 Speaker 1: a right wing audience. Okay, so the initial evidence that 1386 01:15:13,600 --> 01:15:17,440 Speaker 1: Brand should be censored is complete bullshit. Let's see what's next. Quote. 1387 01:15:17,840 --> 01:15:21,120 Speaker 1: Brand has also take an issue with the vaccine, casting 1388 01:15:21,200 --> 01:15:24,360 Speaker 1: doubt on the trustworthiness of the FDA, asking vaccine mandates 1389 01:15:24,439 --> 01:15:27,680 Speaker 1: art assault on people's bodily freedoms, calling the vaccine a 1390 01:15:27,720 --> 01:15:30,840 Speaker 1: gold rush, and pondering whether people could trust Bill Gates. 1391 01:15:30,840 --> 01:15:33,720 Speaker 1: Most recently, Brand declared that there was a vaccine apartheid 1392 01:15:34,000 --> 01:15:36,960 Speaker 1: going after CNN anchor Don Lemon after he called out 1393 01:15:37,000 --> 01:15:40,640 Speaker 1: people who refused to get vaccinated. All right, I'm going 1394 01:15:40,680 --> 01:15:42,599 Speaker 1: to take the time to break down each of these 1395 01:15:42,640 --> 01:15:46,160 Speaker 1: claims in turn. First, they say, Russell casts doubt on 1396 01:15:46,240 --> 01:15:49,960 Speaker 1: the trustworthiness of the FDA. Here's the segment that they 1397 01:15:49,960 --> 01:15:52,600 Speaker 1: are talking about. Let's take a listen. The FDA, the 1398 01:15:52,640 --> 01:15:56,439 Speaker 1: Food and Drug Administration, is the agency that regulates big 1399 01:15:56,439 --> 01:16:01,400 Speaker 1: pharmaceutical companies, and it's funded by those same big pharmaceutical companies. 1400 01:16:01,680 --> 01:16:05,479 Speaker 1: Can you see any potential problems in the FDA being 1401 01:16:05,520 --> 01:16:09,080 Speaker 1: funded by the big farmer companies that is regulating The 1402 01:16:09,120 --> 01:16:12,960 Speaker 1: FDA used to be funded entirely by taxpayers, meaning it 1403 01:16:13,040 --> 01:16:15,920 Speaker 1: was sort of a public funded body, and I'm sure 1404 01:16:15,920 --> 01:16:18,320 Speaker 1: there was some room for corruption or whatever, but ultimately 1405 01:16:18,479 --> 01:16:22,599 Speaker 1: the FDA saw of was housed within governmental authority. Now 1406 01:16:22,640 --> 01:16:27,080 Speaker 1: it is increasingly funded by the institutions and corporations so 1407 01:16:27,120 --> 01:16:30,400 Speaker 1: that it regulates. What kind of problems could you imagine 1408 01:16:30,439 --> 01:16:33,000 Speaker 1: that might lead to The FDA has moved from an 1409 01:16:33,120 --> 01:16:36,120 Speaker 1: entirely taxpayer funded entity a one increasingly funded by a 1410 01:16:36,280 --> 01:16:39,799 Speaker 1: user fees paid by manufacturers that are being regulated. User 1411 01:16:39,920 --> 01:16:44,000 Speaker 1: fees this is our fee for using you. Today, close 1412 01:16:44,040 --> 01:16:46,120 Speaker 1: to forty five percent of its budget comes from these 1413 01:16:46,240 --> 01:16:48,479 Speaker 1: user fees that companies pay when they apply for approval 1414 01:16:48,520 --> 01:16:52,439 Speaker 1: of a medical device or drug. All right, guys, I 1415 01:16:52,560 --> 01:16:56,320 Speaker 1: double checked. Russell Brand is absolutely correct here. The FDA 1416 01:16:56,479 --> 01:16:59,040 Speaker 1: is increasingly funded by the drug companies, and that is 1417 01:16:59,080 --> 01:17:02,760 Speaker 1: in fact deeply considered learning pointing out uncomfortable facts is 1418 01:17:02,800 --> 01:17:06,160 Speaker 1: not a crime. In fact, it's what actual journalists are 1419 01:17:06,240 --> 01:17:09,519 Speaker 1: meant to do. Here is a Forbes article, by the way, 1420 01:17:09,760 --> 01:17:12,479 Speaker 1: calling attention to this very issue and asking whether this 1421 01:17:12,560 --> 01:17:15,800 Speaker 1: drug company user fee support might be an issue. Guess 1422 01:17:15,920 --> 01:17:20,080 Speaker 1: Forbes is down the rabbit hole fueling anti vaxers as well. 1423 01:17:20,160 --> 01:17:23,040 Speaker 1: All right. The next claim is that Russell said that 1424 01:17:23,120 --> 01:17:27,040 Speaker 1: vaccine mandates are an assault on people's bodily freedom. Now, look, 1425 01:17:27,200 --> 01:17:29,920 Speaker 1: I am not ideologically exactly in the same place as 1426 01:17:30,000 --> 01:17:32,880 Speaker 1: Russell and vaccine mandates. For example, as you know, I 1427 01:17:32,920 --> 01:17:35,200 Speaker 1: think the Biden solution of giving folks the option of 1428 01:17:35,240 --> 01:17:38,720 Speaker 1: opting into testing instead is a good balancing of the 1429 01:17:38,720 --> 01:17:43,320 Speaker 1: competing principles of collective responsibility in individual liberties. But Russell's 1430 01:17:43,360 --> 01:17:47,840 Speaker 1: perspective here is perfectly legitimate that down the rabbit hole 1431 01:17:47,920 --> 01:17:52,040 Speaker 1: bash of anti vaxxers. The New York Times recently ran 1432 01:17:52,080 --> 01:17:56,120 Speaker 1: an opbed from libertarian Robbisuave that made a very similar argument. 1433 01:17:56,240 --> 01:18:00,000 Speaker 1: In fact, Russell quotes extensively from that New York Time 1434 01:18:00,080 --> 01:18:03,759 Speaker 1: to ed in laying out his own case. The idea 1435 01:18:03,760 --> 01:18:06,120 Speaker 1: that such a view is radical or deserves to be 1436 01:18:06,240 --> 01:18:10,519 Speaker 1: censored is in itself a radical and dangerous view. All right, 1437 01:18:11,320 --> 01:18:15,240 Speaker 1: the next Daily Beasts claim is really disingenuous. You're ready 1438 01:18:15,240 --> 01:18:18,320 Speaker 1: for this one. Next they lament that Russell called the 1439 01:18:18,400 --> 01:18:21,439 Speaker 1: vaccines a gold rush and question whether you can trust 1440 01:18:21,720 --> 01:18:25,640 Speaker 1: Bill Gates in doing so. They completely leave on the 1441 01:18:25,640 --> 01:18:28,840 Speaker 1: context of his comments, and that context was that he 1442 01:18:28,920 --> 01:18:32,920 Speaker 1: was doing a segment blasting Pharma for keeping vaccines from 1443 01:18:32,960 --> 01:18:36,519 Speaker 1: the global selth. He specifically called out Gates for his 1444 01:18:36,640 --> 01:18:41,040 Speaker 1: complicity in protecting Pharma's patent protection. In other words, it 1445 01:18:41,280 --> 01:18:46,280 Speaker 1: was a pro vaccine segment, and Bill Gates has in 1446 01:18:46,280 --> 01:18:49,519 Speaker 1: fact been one of the primary villains in keeping vaccines 1447 01:18:49,520 --> 01:18:52,760 Speaker 1: from getting to poor populations around the world. Now full 1448 01:18:52,800 --> 01:18:54,720 Speaker 1: disclosure here, Russell played a little bit of my own 1449 01:18:54,760 --> 01:18:58,160 Speaker 1: monologue on that exact topic to make the point. So again, 1450 01:18:58,600 --> 01:19:02,040 Speaker 1: the Daily Beest twisted a pro vaccine segment to make 1451 01:19:02,080 --> 01:19:04,920 Speaker 1: the case that Russell was a quote powerful voice for 1452 01:19:05,000 --> 01:19:08,560 Speaker 1: anti vaxxers. It's impressive, which brings me finally to the 1453 01:19:08,640 --> 01:19:12,519 Speaker 1: Daily Beasts outrage at Russell's great crime of criticizing Don Lemon. 1454 01:19:13,000 --> 01:19:15,799 Speaker 1: How dare you Russell? Now? He did so in reaction 1455 01:19:16,000 --> 01:19:18,800 Speaker 1: to this commentary. I think we have to stop coddling 1456 01:19:18,840 --> 01:19:22,360 Speaker 1: people when it comes to this and the vaccine saying, oh, 1457 01:19:22,439 --> 01:19:25,160 Speaker 1: you can't shame them, you can't call them stupid, you 1458 01:19:25,160 --> 01:19:28,080 Speaker 1: can't call them still good. Yes they are. The people 1459 01:19:28,080 --> 01:19:30,320 Speaker 1: who ate it and avetted Trump are stupid because they 1460 01:19:30,360 --> 01:19:33,800 Speaker 1: believed his big lie. The people who are not getting vaccines, 1461 01:19:34,240 --> 01:19:37,400 Speaker 1: who are believing the lies on the internet instead of science, 1462 01:19:37,760 --> 01:19:40,200 Speaker 1: It's time to start shaming them. What else or leave 1463 01:19:40,240 --> 01:19:45,360 Speaker 1: them behind? Now you all know, I think that type 1464 01:19:45,360 --> 01:19:48,760 Speaker 1: of attitude from Lemon and commentary which demonizes people and 1465 01:19:48,800 --> 01:19:53,240 Speaker 1: demands retribution is disgraceful. I think deserves to be called out. 1466 01:19:53,560 --> 01:19:56,559 Speaker 1: Good on Russell brand for doing it. Not to mention 1467 01:19:56,640 --> 01:19:59,240 Speaker 1: that Lemon goes on to pretend that the only unvaccinated 1468 01:19:59,280 --> 01:20:02,080 Speaker 1: people are Trump's because of course that's convenient for his 1469 01:20:02,200 --> 01:20:05,960 Speaker 1: narrative of shame and punishment. This punching down for media 1470 01:20:06,000 --> 01:20:09,080 Speaker 1: figures is also very convenient because it lets our failed 1471 01:20:09,080 --> 01:20:11,479 Speaker 1: elites off the hook for bringing our society to a 1472 01:20:11,479 --> 01:20:14,839 Speaker 1: place where so many would be distrustful of the media, 1473 01:20:14,960 --> 01:20:19,479 Speaker 1: of the government, and of the pharmaceutical companies. Maybe, just maybe, 1474 01:20:19,840 --> 01:20:22,160 Speaker 1: if some of the issues of corruption that Russell points 1475 01:20:22,200 --> 01:20:25,640 Speaker 1: to were actually talked about and then actually addressed you 1476 01:20:25,680 --> 01:20:28,559 Speaker 1: wouldn't find yourself in this place to start with. Look, 1477 01:20:28,640 --> 01:20:31,960 Speaker 1: as I already said, I've got my ideological disagreements with Russell. 1478 01:20:32,000 --> 01:20:34,120 Speaker 1: I'm not trying to sanction all of his views. In 1479 01:20:34,120 --> 01:20:37,040 Speaker 1: my opinion, he's also too equivocal about the efficacy of 1480 01:20:37,080 --> 01:20:39,160 Speaker 1: the vaccine. We know it works, and that could be 1481 01:20:39,200 --> 01:20:42,280 Speaker 1: stated a lot more clearly. But this hatchet job said 1482 01:20:42,360 --> 01:20:45,960 Speaker 1: a lot less about any issues with russell brand and 1483 01:20:46,000 --> 01:20:49,559 Speaker 1: a whole lot more about the insecurities and authoritarian mindset 1484 01:20:49,640 --> 01:20:53,920 Speaker 1: of the establishment media. They are failing, their view counts 1485 01:20:53,960 --> 01:20:57,120 Speaker 1: and their ratings are collapsing. Russell, on the other hand, 1486 01:20:57,360 --> 01:21:00,559 Speaker 1: is succeeding. Millions of people watch his YouTube vide his 1487 01:21:00,680 --> 01:21:04,120 Speaker 1: podcast is very, very successful. It can't be that he's 1488 01:21:04,200 --> 01:21:06,479 Speaker 1: just doing a better job than they are. No, it 1489 01:21:06,560 --> 01:21:09,400 Speaker 1: has to be something nefarious. He's got to be down 1490 01:21:09,479 --> 01:21:13,040 Speaker 1: the rabbit hole, fueling misinformation, grifting in some as of 1491 01:21:13,200 --> 01:21:16,760 Speaker 1: yet undefined way. The Daily Beast, they're all over it, 1492 01:21:16,960 --> 01:21:22,000 Speaker 1: supposed journalists calling the manager at YouTube to demand more censorship. 1493 01:21:22,320 --> 01:21:24,360 Speaker 1: I guess it's understandable, since it may well get to 1494 01:21:24,400 --> 01:21:26,960 Speaker 1: the point where people will only read their trash and 1495 01:21:27,080 --> 01:21:30,880 Speaker 1: watch their shows if they've got no other options. Sager 1496 01:21:31,400 --> 01:21:33,920 Speaker 1: this whole thing. The more I dug into it, the 1497 01:21:33,960 --> 01:21:37,280 Speaker 1: more pissed off I got, because, honestly, a troubling trend 1498 01:21:37,520 --> 01:21:39,519 Speaker 1: that we've seen all across the nation. Let's put us 1499 01:21:39,560 --> 01:21:41,599 Speaker 1: up there on the screen. We've seen a violent crime 1500 01:21:41,680 --> 01:21:44,840 Speaker 1: spike by about thirty percent with an overall decrease. Yet 1501 01:21:44,880 --> 01:21:48,839 Speaker 1: in property crime, we've also seen hate crime increase and more. Obviously, 1502 01:21:48,840 --> 01:21:50,839 Speaker 1: it is probably one of the most politically charged debates 1503 01:21:51,080 --> 01:21:53,080 Speaker 1: that exists. Charles Leeman, he's a friend of mine over 1504 01:21:53,120 --> 01:21:56,719 Speaker 1: at the Manhattan Institute, and he's very a very sober 1505 01:21:56,800 --> 01:21:59,479 Speaker 1: minded person whenever it comes to looking at the data. Charles, 1506 01:21:59,479 --> 01:22:02,680 Speaker 1: thank you so much joining us. We really appreciate it. Yeah, absolutely, 1507 01:22:02,680 --> 01:22:04,680 Speaker 1: thank you so much for having me on. Charles, tell 1508 01:22:04,760 --> 01:22:07,200 Speaker 1: us a little bit about specifically what we saw. There 1509 01:22:07,200 --> 01:22:09,599 Speaker 1: were a lot of narratives out there. Just break down 1510 01:22:09,680 --> 01:22:12,920 Speaker 1: the actual data itself is out. Where are their increase, 1511 01:22:13,000 --> 01:22:15,840 Speaker 1: where are their decreases? What are some myths that have inenbusted, 1512 01:22:16,000 --> 01:22:19,000 Speaker 1: what are somes that have been confirmed? Yeah? Absolutely, so, 1513 01:22:19,320 --> 01:22:22,120 Speaker 1: you know, the top line, the FBI is the major 1514 01:22:22,240 --> 01:22:25,439 Speaker 1: entity that tracks this stuff. They look at a bunch 1515 01:22:25,439 --> 01:22:27,439 Speaker 1: of different figures, but sort of the standard way that 1516 01:22:27,439 --> 01:22:29,200 Speaker 1: we talk about this is that there are seven crimes, 1517 01:22:29,200 --> 01:22:32,400 Speaker 1: seven major crimes that they try to track consistently over time. 1518 01:22:32,479 --> 01:22:35,360 Speaker 1: And what we saw last year twenty twenty versus twenty 1519 01:22:35,439 --> 01:22:38,640 Speaker 1: nineteen is that there was a dramatic increase in homicide 1520 01:22:38,640 --> 01:22:43,320 Speaker 1: about thirty order thirty percent, smaller but still significantly increases 1521 01:22:43,360 --> 01:22:47,519 Speaker 1: off of a higher base in aggravated assaults and grand 1522 01:22:47,600 --> 01:22:50,360 Speaker 1: theft auto, which are both about eleven twelve percent, and 1523 01:22:50,400 --> 01:22:56,160 Speaker 1: then declines in other classes of property crime robbery, burglary, larceny, 1524 01:22:56,240 --> 01:22:59,280 Speaker 1: so Robert Berkeley order two to three percent, larscitie increases 1525 01:22:59,320 --> 01:23:02,280 Speaker 1: big actually I think increases like eight percent, a decreased 1526 01:23:02,360 --> 01:23:05,320 Speaker 1: like eight percent, largeity fail something like ten percent. So 1527 01:23:05,360 --> 01:23:08,920 Speaker 1: you know, the big synthetic picture that we saw in 1528 01:23:08,960 --> 01:23:11,719 Speaker 1: the FBI's data confirmed what we saw in city level 1529 01:23:11,760 --> 01:23:15,000 Speaker 1: data and state level data. There was a big increase 1530 01:23:15,040 --> 01:23:18,760 Speaker 1: in violence last year as measured by shootings and homicides. 1531 01:23:19,000 --> 01:23:22,680 Speaker 1: There was a notable precipitous decline in property offending last year, 1532 01:23:22,720 --> 01:23:26,040 Speaker 1: except with the exception of grand theft auto, which also 1533 01:23:26,160 --> 01:23:32,120 Speaker 1: rose substantially. How do these numbers overall, and the geographic 1534 01:23:32,200 --> 01:23:36,880 Speaker 1: distribution of these numbers compare to like the crack epidemic 1535 01:23:36,960 --> 01:23:42,439 Speaker 1: in the late eighties and early nineties. Yeah, so the 1536 01:23:42,479 --> 01:23:47,519 Speaker 1: to answer break parts. Geographically, crime is less focused in 1537 01:23:47,560 --> 01:23:50,360 Speaker 1: certain cities than it used to be the majority of 1538 01:23:50,360 --> 01:23:52,439 Speaker 1: the Old Woman Jordan. Crime still habits in large cities. 1539 01:23:52,479 --> 01:23:54,880 Speaker 1: That's a phenomenon of where population is. The more people 1540 01:23:54,920 --> 01:23:58,120 Speaker 1: you have in one place, the more crime is going 1541 01:23:58,160 --> 01:23:59,640 Speaker 1: to happen in that place, for both just sort of 1542 01:23:59,680 --> 01:24:02,360 Speaker 1: popular relation number of reasons, and also for concentration of 1543 01:24:02,400 --> 01:24:05,320 Speaker 1: people reasons. But it is the case that we saw 1544 01:24:05,400 --> 01:24:10,400 Speaker 1: increases in rural and suburban areas. In violent crime, it 1545 01:24:10,600 --> 01:24:13,240 Speaker 1: increases as part as retelling. Big cities was bigger in 1546 01:24:13,280 --> 01:24:16,920 Speaker 1: overall magnitude, but crime is overall less concentrated in the 1547 01:24:16,960 --> 01:24:19,240 Speaker 1: biggest cities than it used to be. In terms of 1548 01:24:19,439 --> 01:24:23,360 Speaker 1: sort of historical context. In violent crime, we remain below 1549 01:24:23,439 --> 01:24:25,840 Speaker 1: where we were in the sort of peak of violence 1550 01:24:26,120 --> 01:24:29,760 Speaker 1: nineteen eighties and early nineteen nineties. There has been so 1551 01:24:29,800 --> 01:24:32,639 Speaker 1: you know, we saw this dramatic crime decline between nineteen 1552 01:24:32,720 --> 01:24:35,960 Speaker 1: ninety one and ninety four and really two thousand and eight, 1553 01:24:36,000 --> 01:24:38,280 Speaker 1: tw thousand, nineteeny ten, and then there's really a leveling 1554 01:24:38,280 --> 01:24:41,680 Speaker 1: off in violent crime. So on the one hand, we're 1555 01:24:41,680 --> 01:24:44,599 Speaker 1: still were well below where we were a generation ago. 1556 01:24:45,000 --> 01:24:47,959 Speaker 1: On the other hand, last year's homicide increase in particular 1557 01:24:48,439 --> 01:24:51,160 Speaker 1: was the largest in terms of absolute numbers and percentage 1558 01:24:51,200 --> 01:24:54,400 Speaker 1: wise record, and we were much closer to where we 1559 01:24:54,400 --> 01:24:56,200 Speaker 1: were in the nineteen eighties and nineteen nineties. I think 1560 01:24:56,200 --> 01:24:58,960 Speaker 1: there's a conversation we had about whether we should expect 1561 01:24:59,000 --> 01:25:01,960 Speaker 1: a reversion to that, but it's certainly the case that 1562 01:25:02,000 --> 01:25:05,200 Speaker 1: we are close to the sort of height closer to 1563 01:25:05,240 --> 01:25:09,000 Speaker 1: those sort of worst years of violent crime in recent memory. So, Charles, 1564 01:25:09,160 --> 01:25:11,400 Speaker 1: one thing that has in a lot of people's minds 1565 01:25:11,520 --> 01:25:15,240 Speaker 1: is COVID. People freaked out during COVID in many ways. 1566 01:25:15,360 --> 01:25:17,000 Speaker 1: I mean, one of the things that was a hallmark 1567 01:25:17,280 --> 01:25:20,000 Speaker 1: of twenty twenty is you can't buy any ammunition, and 1568 01:25:20,040 --> 01:25:22,080 Speaker 1: it was very difficult to buy gun because there were 1569 01:25:22,120 --> 01:25:24,840 Speaker 1: lines that were out the door. Now I've actually seen 1570 01:25:25,120 --> 01:25:27,639 Speaker 1: both side of this argument. Many people are saying, see 1571 01:25:27,640 --> 01:25:30,640 Speaker 1: increase in gun sales led to more homicides. The other 1572 01:25:30,680 --> 01:25:32,960 Speaker 1: one was, well, there's more homicides, so people feel the 1573 01:25:33,040 --> 01:25:36,680 Speaker 1: need or people just feel really angry because of lockdowns 1574 01:25:36,680 --> 01:25:38,680 Speaker 1: and more. Can you disaggregate any of that? What do 1575 01:25:38,720 --> 01:25:41,320 Speaker 1: we know about that? Yeah, let me talk about COVID 1576 01:25:41,360 --> 01:25:43,839 Speaker 1: and guns separately, because I think they're two different stories. 1577 01:25:44,600 --> 01:25:46,839 Speaker 1: On the one hand, it's hard to suggest that COVID 1578 01:25:46,880 --> 01:25:49,880 Speaker 1: played no role in the relative increase. I mean just 1579 01:25:49,920 --> 01:25:53,240 Speaker 1: sort of in general, if something weird happened in twenty twenty, 1580 01:25:53,640 --> 01:25:55,320 Speaker 1: there has to have been some role for the biggest 1581 01:25:55,320 --> 01:25:57,559 Speaker 1: weirdest thing that happened in twenty twenty and determining that. 1582 01:25:58,280 --> 01:26:00,639 Speaker 1: And so I think it is improbable that COVID had 1583 01:26:00,680 --> 01:26:04,440 Speaker 1: no effect. Among other things, COVID led to large skilled decarcerations, 1584 01:26:04,680 --> 01:26:06,920 Speaker 1: just like letting offenders out of jail is going to 1585 01:26:07,000 --> 01:26:08,559 Speaker 1: have an impact. You could say it was worth it, 1586 01:26:08,560 --> 01:26:10,920 Speaker 1: but I just gonna have an impact. That said, I 1587 01:26:10,960 --> 01:26:13,680 Speaker 1: think there's some questions about if COVID can explain all 1588 01:26:13,720 --> 01:26:16,720 Speaker 1: of it. Most other developed countries did not experience a 1589 01:26:16,760 --> 01:26:21,200 Speaker 1: homicide increase last year. Similarly, violent countries like Mexico or 1590 01:26:21,240 --> 01:26:24,920 Speaker 1: Honduras did not experience a homicide increase last year. Similarly, 1591 01:26:25,040 --> 01:26:27,160 Speaker 1: armed countries did not experience a homset increase last year. 1592 01:26:27,200 --> 01:26:30,200 Speaker 1: They were all affected, often worse, by COVID than we were, 1593 01:26:30,240 --> 01:26:32,000 Speaker 1: So it has to be something unique about the United 1594 01:26:32,000 --> 01:26:36,479 Speaker 1: States that isn't you know, isn't adequately explained by COVID. 1595 01:26:36,640 --> 01:26:40,160 Speaker 1: Because the guns. There was a historic increase in gun 1596 01:26:40,200 --> 01:26:43,320 Speaker 1: purchasing last year. March twenty twenty is I think the 1597 01:26:44,280 --> 01:26:48,720 Speaker 1: most single month background checks since the guy started keeping track. 1598 01:26:48,800 --> 01:26:52,320 Speaker 1: This is like a lot of guns purchased. That said, 1599 01:26:52,840 --> 01:26:54,519 Speaker 1: we know a couple of things. We know that it 1600 01:26:54,560 --> 01:26:57,880 Speaker 1: takes a long time for illicitly purchased guns to move 1601 01:26:57,960 --> 01:27:00,679 Speaker 1: from the hands of listen owners to coming to learners. 1602 01:27:00,720 --> 01:27:04,080 Speaker 1: The ATF estimates is about seven years on average. And 1603 01:27:04,120 --> 01:27:06,839 Speaker 1: we know that there isn't a correlation between the states 1604 01:27:06,840 --> 01:27:09,479 Speaker 1: that saw the most gun purchase increases and the states 1605 01:27:09,479 --> 01:27:13,040 Speaker 1: of so the largest homicide increases. There is some evidence 1606 01:27:13,120 --> 01:27:15,479 Speaker 1: that there was an increase in gun carrying last year, 1607 01:27:15,520 --> 01:27:19,400 Speaker 1: that people were like walking on with guns more. I 1608 01:27:19,400 --> 01:27:22,080 Speaker 1: think it is it is plausible that that also played 1609 01:27:22,080 --> 01:27:25,559 Speaker 1: a role in the violence increase. Although sort of understanding 1610 01:27:25,600 --> 01:27:27,600 Speaker 1: why people did that sort of you know, pushes but 1611 01:27:27,680 --> 01:27:29,800 Speaker 1: who's the goalplace lived, It's like, why did people make 1612 01:27:29,840 --> 01:27:32,599 Speaker 1: that change? That makes sense, Charles. One of the things 1613 01:27:32,640 --> 01:27:35,880 Speaker 1: that's difficult about this data is, first of all, a 1614 01:27:35,960 --> 01:27:39,559 Speaker 1: saga alluded to. Everyone projects their own sort of like 1615 01:27:39,680 --> 01:27:43,400 Speaker 1: political inclinations onto it. So if you're on the left, 1616 01:27:43,479 --> 01:27:46,000 Speaker 1: you may be more likely to point to, you know, 1617 01:27:46,080 --> 01:27:48,800 Speaker 1: you had this massive economic crash, you had COVID, you 1618 01:27:48,840 --> 01:27:51,479 Speaker 1: had these huge life disruptions. If you're on the right, 1619 01:27:51,720 --> 01:27:53,839 Speaker 1: you may be more likely to point to the social 1620 01:27:54,000 --> 01:27:57,439 Speaker 1: justice protests that we had in the backlash against police 1621 01:27:57,439 --> 01:28:00,000 Speaker 1: shootings and what that may have done. You know, honestly, 1622 01:28:00,080 --> 01:28:02,360 Speaker 1: there was very little policy change in terms of policing, 1623 01:28:02,400 --> 01:28:04,679 Speaker 1: but what that may have done to police officer morale 1624 01:28:04,760 --> 01:28:07,840 Speaker 1: and those sorts of things. So very easy to project 1625 01:28:07,960 --> 01:28:11,479 Speaker 1: whatever your favorite hypothesis is onto this sort of data, 1626 01:28:12,040 --> 01:28:14,120 Speaker 1: and it seems to me very hard to actually get 1627 01:28:14,120 --> 01:28:17,000 Speaker 1: at the answers. I mean, people are still debating why 1628 01:28:17,040 --> 01:28:19,919 Speaker 1: you had these massive spikes and then even more critically, 1629 01:28:20,040 --> 01:28:22,479 Speaker 1: why you ultimately had a massive decline that you pointed 1630 01:28:22,479 --> 01:28:25,360 Speaker 1: to around nineteen ninety four. There are all sorts of 1631 01:28:25,400 --> 01:28:29,799 Speaker 1: different competing explanations here. So is it even really possible 1632 01:28:29,840 --> 01:28:32,519 Speaker 1: with these sets of data to actually come to an 1633 01:28:32,600 --> 01:28:36,160 Speaker 1: answer about what happened? Why did we have this spike 1634 01:28:36,200 --> 01:28:38,960 Speaker 1: in this year? And now it seems like things are 1635 01:28:39,000 --> 01:28:42,599 Speaker 1: trending in a better direction in twenty twenty one. You know, 1636 01:28:42,720 --> 01:28:45,200 Speaker 1: why is that the case? Is it even really possible 1637 01:28:45,240 --> 01:28:48,040 Speaker 1: to sort of figure those things out? Yeah, I mean 1638 01:28:48,240 --> 01:28:50,280 Speaker 1: the answer is at the highest level. No, it's not. 1639 01:28:51,600 --> 01:28:54,400 Speaker 1: At the highest level of certainty. We can't know because 1640 01:28:54,439 --> 01:28:58,120 Speaker 1: so many different events happened simultaneously. It's and this is 1641 01:28:58,120 --> 01:29:01,160 Speaker 1: true across the board. Disentangling the effects of COVID from 1642 01:29:01,200 --> 01:29:04,280 Speaker 1: the effects of protests, from the effects of you know, 1643 01:29:04,320 --> 01:29:07,360 Speaker 1: policies of a cosmic COVID is impossible, certainly with the 1644 01:29:07,439 --> 01:29:11,160 Speaker 1: degree of certainty that econd of metrition social scientists want. 1645 01:29:11,600 --> 01:29:15,240 Speaker 1: That said, I think you can get suggestive evidence, you 1646 01:29:15,280 --> 01:29:18,040 Speaker 1: can say, you know what, I tend to think that 1647 01:29:18,320 --> 01:29:22,200 Speaker 1: there's a significant role played by depolicing in general, by 1648 01:29:22,200 --> 01:29:26,360 Speaker 1: a decline in police levels and the police activity that 1649 01:29:26,560 --> 01:29:31,040 Speaker 1: was related to the protests that you alluded to. I 1650 01:29:31,040 --> 01:29:32,800 Speaker 1: think that for a couple of reasons. One is that 1651 01:29:32,920 --> 01:29:36,400 Speaker 1: there really are in many large cities immediate dramatic spikes 1652 01:29:36,479 --> 01:29:39,600 Speaker 1: in violence just after the protests begin. The sort of 1653 01:29:39,640 --> 01:29:41,800 Speaker 1: timing is very suggestive. And another is that we have 1654 01:29:41,920 --> 01:29:45,679 Speaker 1: seen together in large cities, dramatic declines in police stopping 1655 01:29:45,760 --> 01:29:48,519 Speaker 1: levels and in police activity. I think that's not a 1656 01:29:48,520 --> 01:29:51,840 Speaker 1: just positive explanation, and you can't ever, You're right, you 1657 01:29:51,880 --> 01:29:54,479 Speaker 1: can't say because the other piece is that because the 1658 01:29:54,479 --> 01:29:57,879 Speaker 1: other pieces that you know, this happened across the country, 1659 01:29:58,120 --> 01:30:01,720 Speaker 1: so it's widely geographically the distributed, so it's hard to 1660 01:30:01,760 --> 01:30:05,000 Speaker 1: say that's the whole of what was going on here, right, Yeah, 1661 01:30:05,040 --> 01:30:07,920 Speaker 1: And I think the most persuasive story is going to 1662 01:30:07,960 --> 01:30:10,880 Speaker 1: be multi causal. That again, I think it is hard 1663 01:30:10,880 --> 01:30:13,360 Speaker 1: to say that COVID had no effect. We have no 1664 01:30:13,479 --> 01:30:17,120 Speaker 1: good estimates of what deincarceration as a COVID policy had. 1665 01:30:17,160 --> 01:30:19,240 Speaker 1: We have no idea because we don't have great measures 1666 01:30:19,280 --> 01:30:22,200 Speaker 1: of how many people are in jail on any single day. 1667 01:30:22,960 --> 01:30:24,599 Speaker 1: We don't have a good estimate of what the different 1668 01:30:24,600 --> 01:30:28,080 Speaker 1: COVID policies did. So I think it is the best 1669 01:30:28,160 --> 01:30:30,000 Speaker 1: and most persuasive story is going to be a multi 1670 01:30:30,000 --> 01:30:32,160 Speaker 1: causal one where we say to a bunch of different 1671 01:30:32,160 --> 01:30:34,280 Speaker 1: factors and it's hard to entangle them, but we have 1672 01:30:34,320 --> 01:30:37,120 Speaker 1: suggestive evidence for what is more and less important. My 1673 01:30:37,200 --> 01:30:40,080 Speaker 1: last question, Charles, is about where things are trending, and 1674 01:30:40,160 --> 01:30:43,880 Speaker 1: so we had a terrible year in twenty twenty. What 1675 01:30:44,000 --> 01:30:47,240 Speaker 1: does the city state level data look like right now? 1676 01:30:47,240 --> 01:30:49,280 Speaker 1: Are we going to continue to have the same level spike? 1677 01:30:49,840 --> 01:30:52,080 Speaker 1: Is it going to return to the baseline somewhere in 1678 01:30:52,080 --> 01:30:55,200 Speaker 1: the middle. What do things look like? So, based on 1679 01:30:55,280 --> 01:30:58,920 Speaker 1: what we know so far, rates of homicide and violent 1680 01:30:58,960 --> 01:31:04,000 Speaker 1: crime are still elevated above twenty nineteen. They're slightly elevated 1681 01:31:04,000 --> 01:31:06,519 Speaker 1: above or slightly below where they were in twenty twenty. 1682 01:31:06,520 --> 01:31:10,960 Speaker 1: So basically, you know, the we're about where we were 1683 01:31:11,040 --> 01:31:14,400 Speaker 1: last year, which is not great by comparison to the baseline. 1684 01:31:14,880 --> 01:31:17,439 Speaker 1: If that's going to revert long term, that's an open question. 1685 01:31:17,560 --> 01:31:20,000 Speaker 1: You know, we saw a becom a side spike twenty 1686 01:31:20,000 --> 01:31:22,720 Speaker 1: fifteen twenty sixteen, and then we were there was there, 1687 01:31:22,760 --> 01:31:26,160 Speaker 1: was me and reversion. I would guess that the same 1688 01:31:26,160 --> 01:31:28,120 Speaker 1: thing will happen in twenty twenty two. You know, I 1689 01:31:28,200 --> 01:31:30,280 Speaker 1: think we're not. My guess is we're not going to 1690 01:31:30,280 --> 01:31:32,559 Speaker 1: see another crime wave for the simple reason that you know, 1691 01:31:32,600 --> 01:31:36,160 Speaker 1: demographic factors and structural factors militate against it. But I 1692 01:31:36,160 --> 01:31:38,240 Speaker 1: would not be surprised if twenty twenty one is as 1693 01:31:38,320 --> 01:31:40,439 Speaker 1: bad as twenty twenty and then we sort of see 1694 01:31:40,439 --> 01:31:42,800 Speaker 1: a return to normal that's my least worst guest at 1695 01:31:42,800 --> 01:31:45,880 Speaker 1: this time. Interesting. Thank you so much Charles for helping 1696 01:31:45,960 --> 01:31:47,400 Speaker 1: us sort through the data and make sense of it. 1697 01:31:47,400 --> 01:31:50,559 Speaker 1: We're really grateful. Thank you, Charles, absolutely, thank thanks having 1698 01:31:50,560 --> 01:31:53,599 Speaker 1: me on. All right, everybody, thank you guys so much 1699 01:31:53,680 --> 01:31:56,759 Speaker 1: for watching. We really appreciate it. Christal, we literally already 1700 01:31:56,800 --> 01:31:59,040 Speaker 1: got the news that one of our segments has been demonetized. 1701 01:31:59,080 --> 01:32:01,439 Speaker 1: The show's not even over, but our production team is 1702 01:32:01,520 --> 01:32:04,080 Speaker 1: uploading stuff kind of as we go. I was checking 1703 01:32:04,120 --> 01:32:07,639 Speaker 1: my email in between, and it's already there. So look, 1704 01:32:07,800 --> 01:32:10,040 Speaker 1: here's the deal. The only way that we can make 1705 01:32:10,080 --> 01:32:11,960 Speaker 1: sure that we do the show exactly the way that 1706 01:32:12,000 --> 01:32:14,439 Speaker 1: we need to is if you guys support us become 1707 01:32:14,439 --> 01:32:17,280 Speaker 1: a premium subscriber. I mean, it makes it so that 1708 01:32:17,360 --> 01:32:20,880 Speaker 1: we don't have to worry about both customer experience and 1709 01:32:21,400 --> 01:32:23,600 Speaker 1: in terms of what's important what's not. We're going to 1710 01:32:23,680 --> 01:32:26,160 Speaker 1: pick the topics that we need to. Or let's say, 1711 01:32:26,160 --> 01:32:27,719 Speaker 1: if we want to play a clip but we're worried 1712 01:32:27,720 --> 01:32:30,160 Speaker 1: about copyright or something, we should play the clip to 1713 01:32:30,200 --> 01:32:32,800 Speaker 1: make sure that everybody's getting the most important news of 1714 01:32:32,800 --> 01:32:36,440 Speaker 1: the day, rather than us having to gain some monetization 1715 01:32:36,479 --> 01:32:39,040 Speaker 1: algorithm yeah, one hundred percent. I mean, you know, one 1716 01:32:39,040 --> 01:32:41,280 Speaker 1: thing we talk a lot about on the show is incentives, 1717 01:32:41,360 --> 01:32:43,640 Speaker 1: the way they shape behavior, and we want all of 1718 01:32:43,640 --> 01:32:47,040 Speaker 1: our incentives to be aligned in just providing you the 1719 01:32:47,120 --> 01:32:49,840 Speaker 1: content that we think is important, that we think needs 1720 01:32:50,200 --> 01:32:53,400 Speaker 1: sorting through, and you know, bringing that to you in 1721 01:32:53,560 --> 01:32:56,960 Speaker 1: as direct and straightforward away as possible. And so we 1722 01:32:57,000 --> 01:33:01,640 Speaker 1: intentionally created this particular model to help enable us to 1723 01:33:01,680 --> 01:33:04,559 Speaker 1: do that. So you guys are the best. Thank you 1724 01:33:04,600 --> 01:33:06,320 Speaker 1: for being there for us. I'm actually so I'm looking 1725 01:33:06,360 --> 01:33:08,880 Speaker 1: at the segments. I'm like, what got to you monetize I? 1726 01:33:09,000 --> 01:33:10,720 Speaker 1: You know, normally I don't have it or don't have 1727 01:33:10,760 --> 01:33:13,519 Speaker 1: it here? Which things are an edgy? Yeah? Which things 1728 01:33:13,560 --> 01:33:15,800 Speaker 1: are edgy? And which might be you know, they might 1729 01:33:15,800 --> 01:33:18,200 Speaker 1: find like, oh you've said the word siia, I can't 1730 01:33:18,200 --> 01:33:21,040 Speaker 1: have that or whatever. Nine to eleven. I don't even 1731 01:33:21,120 --> 01:33:23,040 Speaker 1: know with this one. So all right, find out. But 1732 01:33:23,200 --> 01:33:25,080 Speaker 1: thank you guys for being there for us. We love you, 1733 01:33:25,280 --> 01:33:27,000 Speaker 1: have a great day, and we'll see you back here 1734 01:33:27,040 --> 01:33:43,960 Speaker 1: on Thursday. See Thursday. Thanks for listening to the show, guys, 1735 01:33:44,000 --> 01:33:46,519 Speaker 1: we really appreciate it. To help other people find the show, 1736 01:33:46,600 --> 01:33:48,559 Speaker 1: go ahead and leave us a five star rating on 1737 01:33:48,640 --> 01:33:52,120 Speaker 1: Apple Podcasts or wherever you get your podcasts really helps 1738 01:33:52,160 --> 01:33:55,439 Speaker 1: other people find the show as always special. Thank you 1739 01:33:55,479 --> 01:33:58,840 Speaker 1: to super Cast for powering our premium membership. If you 1740 01:33:58,880 --> 01:34:02,080 Speaker 1: want to find out more, to Crystalansager dot com