1 00:00:00,320 --> 00:00:03,440 Speaker 1: Cable news is ripping us apart, dividing the nation, making 2 00:00:03,480 --> 00:00:05,920 Speaker 1: it impossible to function as a society and to know 3 00:00:05,960 --> 00:00:08,720 Speaker 1: what is true and what is false. The good news 4 00:00:08,800 --> 00:00:10,840 Speaker 1: is that they're failing and they know it. That is 5 00:00:10,840 --> 00:00:14,840 Speaker 1: why we're building something new. Be part of creating a new, better, healthier, 6 00:00:14,880 --> 00:00:17,960 Speaker 1: and more trustworthy mainstream by becoming a Breaking Points Premium 7 00:00:17,960 --> 00:00:21,520 Speaker 1: member today at breakingpoints dot com. Your hard earned money 8 00:00:21,560 --> 00:00:23,400 Speaker 1: is going to help us build for the midterms and 9 00:00:23,440 --> 00:00:27,400 Speaker 1: the upcoming presidential election so we can provide unparalleled coverage 10 00:00:27,400 --> 00:00:28,640 Speaker 1: of what is sure to be one of the most 11 00:00:28,640 --> 00:00:32,320 Speaker 1: pivotal moments in American history. So what are you waiting for? 12 00:00:32,520 --> 00:00:54,200 Speaker 1: Go to Breakingpoints dot com to help us out. Good morning, everybody, 13 00:00:54,240 --> 00:00:56,640 Speaker 1: Happy Thursday. We have an amazing show for everybody today. 14 00:00:56,640 --> 00:00:59,240 Speaker 1: What do we have prisols. Indeed, we do more big 15 00:00:59,440 --> 00:01:02,760 Speaker 1: policy news, more big election news. So we got the 16 00:01:02,760 --> 00:01:07,720 Speaker 1: big Biden long awaited and anticipated student loan debt relief program. 17 00:01:07,760 --> 00:01:09,360 Speaker 1: We can give you all of those details and the 18 00:01:09,360 --> 00:01:13,520 Speaker 1: political debates around it. Also some very interesting results from 19 00:01:13,560 --> 00:01:17,000 Speaker 1: the primary elections and the special elections that happen On Tuesday. 20 00:01:17,360 --> 00:01:19,880 Speaker 1: Dan Marins and I broke that down yesterday. But there's 21 00:01:19,920 --> 00:01:21,679 Speaker 1: even more that we're learning today that we're going to 22 00:01:21,680 --> 00:01:25,440 Speaker 1: get into as well, casually while you aren't looking, and 23 00:01:25,440 --> 00:01:27,920 Speaker 1: while there was no debate. Apparently we're sending another three 24 00:01:27,920 --> 00:01:31,640 Speaker 1: billion dollars to Yes. So, yeah, that's happening. We'll talk 25 00:01:31,680 --> 00:01:37,000 Speaker 1: about it, Package number fifteen anyway, get into that. Liz 26 00:01:37,080 --> 00:01:40,480 Speaker 1: Cheney's next plans. Also some polling showing exactly which voters 27 00:01:40,480 --> 00:01:42,640 Speaker 1: she would draw if she were to run is an 28 00:01:42,640 --> 00:01:46,560 Speaker 1: independent for president? No big surprises there. And Matt Damon 29 00:01:46,760 --> 00:01:50,120 Speaker 1: with some very interesting comments on the movie industry, which 30 00:01:50,120 --> 00:01:54,040 Speaker 1: has sort of like broader cultural implications. Very interesting there. 31 00:01:54,320 --> 00:01:57,440 Speaker 1: Max Alvarez is going to be here in the flesh 32 00:01:57,560 --> 00:01:59,560 Speaker 1: on the show. He's got a new book out, so 33 00:01:59,640 --> 00:02:02,440 Speaker 1: can't wait to talk to him about that before we 34 00:02:02,520 --> 00:02:04,840 Speaker 1: jump in live show. We still have tickets live show, 35 00:02:05,000 --> 00:02:07,320 Speaker 1: very few tickets. Unfortunately, let's go and put this up well, 36 00:02:07,320 --> 00:02:09,640 Speaker 1: I guess fortunately got to put this up there on 37 00:02:09,720 --> 00:02:12,160 Speaker 1: the screen. Very smattering few of tickets that are left there, 38 00:02:12,200 --> 00:02:14,760 Speaker 1: so jimp on it, guys. If you want to comecryption, yep, 39 00:02:14,880 --> 00:02:16,800 Speaker 1: that's right, go ahead and make the plans. It's going 40 00:02:16,880 --> 00:02:19,760 Speaker 1: to be fun. Somebody did email me asking me about accommodations. 41 00:02:20,000 --> 00:02:21,880 Speaker 1: Let me just say this, I don't know a damn 42 00:02:21,960 --> 00:02:24,440 Speaker 1: thing about it. We haven't even made our own, made 43 00:02:24,440 --> 00:02:27,080 Speaker 1: our own accommodations. Tell us where we should stay. So 44 00:02:27,360 --> 00:02:30,320 Speaker 1: if you have a recommendation for where the best place 45 00:02:30,360 --> 00:02:32,840 Speaker 1: to stay in Atlanta and food recommendations, always like, oh, 46 00:02:32,919 --> 00:02:35,400 Speaker 1: definitely send us. Send those in. I would love to 47 00:02:35,400 --> 00:02:38,200 Speaker 1: see them. Yeah, indeed. Okay, let's get to the vague 48 00:02:38,200 --> 00:02:41,359 Speaker 1: announcement yesterday from the President of the United States. Let's 49 00:02:41,360 --> 00:02:44,440 Speaker 1: go ahead and throw the Twitter announcement up on the screen. So, 50 00:02:44,680 --> 00:02:47,840 Speaker 1: after much anticipation and many false starts, took a year, 51 00:02:47,880 --> 00:02:51,240 Speaker 1: he is not all announced that he will be This 52 00:02:51,280 --> 00:02:55,400 Speaker 1: administration will be forgiving ten thousand dollars in student debt 53 00:02:55,520 --> 00:02:59,040 Speaker 1: if you did not receive pelgrants and your income is 54 00:02:59,160 --> 00:03:01,440 Speaker 1: under one hundred and twenty five thousand dollars, so it's 55 00:03:01,480 --> 00:03:05,160 Speaker 1: means tested twenty thousand dollars if you went to college 56 00:03:05,200 --> 00:03:07,200 Speaker 1: on pelgrans. I think that was the part that was 57 00:03:07,240 --> 00:03:10,280 Speaker 1: really quite surprising to people that hadn't been reported or 58 00:03:10,320 --> 00:03:13,919 Speaker 1: speculated before. And of course PEL grant recipients disproportionately sort 59 00:03:13,919 --> 00:03:17,040 Speaker 1: of like working class and lower income. Jeff Stein has 60 00:03:17,080 --> 00:03:19,120 Speaker 1: all the details here. He's really, you know, one of 61 00:03:19,160 --> 00:03:21,080 Speaker 1: our friends over the Washington Post, he's really been on 62 00:03:21,080 --> 00:03:23,160 Speaker 1: top of reporting this out very effectively. Go ahead and 63 00:03:23,160 --> 00:03:25,880 Speaker 1: put this up on the screen. He says, to summarize, 64 00:03:26,040 --> 00:03:30,160 Speaker 1: ten thousand dollars for most borrowers, twenty thousand dollars for 65 00:03:30,280 --> 00:03:33,880 Speaker 1: pel grant recipients only for under one hundred and twenty 66 00:03:33,960 --> 00:03:37,480 Speaker 1: five k individually two hundred and fifty k jointly aimed 67 00:03:37,560 --> 00:03:41,200 Speaker 1: to cap undergrad loan payments at five percent monthly income. 68 00:03:41,280 --> 00:03:45,520 Speaker 1: That's actually really sweep sweeping in significant change previously that 69 00:03:45,600 --> 00:03:47,520 Speaker 1: had been at ten percent. That was a policy that 70 00:03:47,640 --> 00:03:50,200 Speaker 1: was set by the Obama administration to try to make 71 00:03:50,240 --> 00:03:54,280 Speaker 1: student loan payments more affordable. Grad loans parent plus are eligible. 72 00:03:54,600 --> 00:04:00,440 Speaker 1: And also significantly that student loan debt payment were tom 73 00:04:00,480 --> 00:04:03,560 Speaker 1: is going to be extended one final time until after 74 00:04:03,640 --> 00:04:06,520 Speaker 1: the midterm elections. Some some of our politics there. Those 75 00:04:06,560 --> 00:04:09,520 Speaker 1: payments will restart on December thirty. First, I'm a little 76 00:04:09,560 --> 00:04:12,520 Speaker 1: bit shocked that they were intelligent enough to make that move, 77 00:04:12,960 --> 00:04:15,240 Speaker 1: but you know what, they've been surprising me lately with 78 00:04:15,600 --> 00:04:18,440 Speaker 1: a couple of actually intelligent moves let's go ahead and 79 00:04:18,440 --> 00:04:21,880 Speaker 1: listen to how the president sold this yesterday. I mean, 80 00:04:21,960 --> 00:04:24,520 Speaker 1: is this unfair to people who hate the student loans 81 00:04:24,640 --> 00:04:28,320 Speaker 1: or showed not to take out loans? Is it fair 82 00:04:28,680 --> 00:04:32,839 Speaker 1: to people who in fact do not own one billion 83 00:04:32,880 --> 00:04:36,120 Speaker 1: dollar businesses? There and she wanted these guys get LULLI texts. 84 00:04:36,240 --> 00:04:40,240 Speaker 1: Is that's there? What do you think? What about people 85 00:04:40,240 --> 00:04:43,320 Speaker 1: who paid their laws will provide real benefits for families 86 00:04:43,360 --> 00:04:48,320 Speaker 1: without meaningful effect on inflation. Let's be clear, I hear 87 00:04:48,360 --> 00:04:51,240 Speaker 1: it all the time. How do we pay for it? 88 00:04:52,040 --> 00:04:54,920 Speaker 1: We pay for it by what we've done last year, 89 00:04:54,960 --> 00:04:57,480 Speaker 1: we cut the depths by more than three hundred and 90 00:04:57,560 --> 00:05:01,160 Speaker 1: fifty billion dollars. Let me give you a couple more 91 00:05:01,200 --> 00:05:03,039 Speaker 1: of the numbers here and then we can talk a 92 00:05:03,080 --> 00:05:07,280 Speaker 1: bit about this. So the estimates are this will entirely 93 00:05:07,360 --> 00:05:10,080 Speaker 1: wipe out the student debt balance of about thirty three 94 00:05:10,160 --> 00:05:13,479 Speaker 1: percent of loan holders, if about forty three million people 95 00:05:13,480 --> 00:05:15,960 Speaker 1: who will benefit in total, and it wipes out about 96 00:05:16,200 --> 00:05:19,360 Speaker 1: half of the student loan debt of more than fifty 97 00:05:19,400 --> 00:05:23,080 Speaker 1: percent of loan holders. So listen, you guys know my physician, 98 00:05:23,360 --> 00:05:25,160 Speaker 1: I think it should all be canceled in college. Should 99 00:05:25,160 --> 00:05:26,840 Speaker 1: be free. So it's not as far as I would go, 100 00:05:27,240 --> 00:05:29,120 Speaker 1: But I have to say, I mean, in terms of 101 00:05:29,360 --> 00:05:32,200 Speaker 1: the way Biden framed this and the way that he 102 00:05:32,240 --> 00:05:35,240 Speaker 1: went about it, it was quite feisty and it was 103 00:05:35,400 --> 00:05:40,200 Speaker 1: very not neoliberal. So there's the neoliberal flourishes here, the 104 00:05:40,279 --> 00:05:44,880 Speaker 1: means testing and those sorts of things, but embracing outright 105 00:05:44,920 --> 00:05:49,360 Speaker 1: debt cancelation truly is a sort of ideological philosophical break 106 00:05:49,480 --> 00:05:53,680 Speaker 1: from the Clinton Obama style neoliberalism that's dominated for decades. 107 00:05:53,760 --> 00:05:56,320 Speaker 1: That is absolutely so. I mean, I'm personally against his 108 00:05:56,360 --> 00:05:58,960 Speaker 1: policy layout, and as I've always said, I have absolutely 109 00:05:59,000 --> 00:06:01,200 Speaker 1: no problem with debt cancer, even in terms of how 110 00:06:01,240 --> 00:06:03,400 Speaker 1: we pay for. Most of this is completely fake and 111 00:06:03,520 --> 00:06:07,839 Speaker 1: has been absorbed by the college college industrial complex, of 112 00:06:07,880 --> 00:06:10,960 Speaker 1: which I consider myself a major enemy of. For politically, 113 00:06:11,080 --> 00:06:12,920 Speaker 1: you know, I'm honestly not sure. Ideologically, I think it's 114 00:06:12,920 --> 00:06:15,080 Speaker 1: a good thing. In order to make past that and 115 00:06:15,160 --> 00:06:17,960 Speaker 1: to understand that first of all, look, Joe Biden himself 116 00:06:18,000 --> 00:06:19,599 Speaker 1: is one of the people and one of the reason 117 00:06:19,640 --> 00:06:21,719 Speaker 1: why that we are even in this situation. You know, 118 00:06:21,720 --> 00:06:23,440 Speaker 1: if we'll remember, student debt is one of the only 119 00:06:23,520 --> 00:06:25,839 Speaker 1: debts that you can't act that you can't discharge even 120 00:06:25,920 --> 00:06:29,080 Speaker 1: upon death, where they can garnish your family's wages. Thanks 121 00:06:29,120 --> 00:06:31,920 Speaker 1: to mister Joe Biden, Senator Joe Biden from the state 122 00:06:32,200 --> 00:06:34,760 Speaker 1: of Delaware. But politically, honestly, I've been turning this over 123 00:06:34,760 --> 00:06:37,160 Speaker 1: in my head, Crystal. On the one hand, yes, there 124 00:06:37,200 --> 00:06:41,520 Speaker 1: are college educated liberals. Disproportionately those people are you know, 125 00:06:41,720 --> 00:06:44,720 Speaker 1: going to be Democratic voters. The other, you know, only 126 00:06:44,720 --> 00:06:47,200 Speaker 1: thirty seven percent of the US population went to college. 127 00:06:47,240 --> 00:06:50,360 Speaker 1: Even amongst Gen Z younger voters. It's like forty ish 128 00:06:50,560 --> 00:06:52,520 Speaker 1: in terms of how many people are going to graduate. 129 00:06:52,800 --> 00:06:54,560 Speaker 1: In general, twenty five percent of the people who enter 130 00:06:54,560 --> 00:06:56,640 Speaker 1: a four year college where we never do graduate, So 131 00:06:56,680 --> 00:06:59,359 Speaker 1: the vast majority of the public did not go to college. 132 00:06:59,360 --> 00:07:01,320 Speaker 1: And you know, this could piss a lot of people off. 133 00:07:01,360 --> 00:07:03,720 Speaker 1: Now I don't agree with the whole how are you 134 00:07:03,760 --> 00:07:05,920 Speaker 1: going to pay for it? But there's a stark headline 135 00:07:05,960 --> 00:07:07,240 Speaker 1: that I did see I think in the Wall Street 136 00:07:07,320 --> 00:07:10,680 Speaker 1: Journal this is about two thousand dollars per American taxpayer 137 00:07:10,960 --> 00:07:13,480 Speaker 1: in terms of relief. Once again, I think student debt 138 00:07:13,560 --> 00:07:16,080 Speaker 1: and the way that it is currently structured is immoral. 139 00:07:16,120 --> 00:07:18,000 Speaker 1: I think the colleges are criminal. I think the entire 140 00:07:18,120 --> 00:07:21,000 Speaker 1: debt system is insane. I think it drags down wages. 141 00:07:21,120 --> 00:07:23,480 Speaker 1: College wage premium has gone down. It prevents people from 142 00:07:23,480 --> 00:07:25,320 Speaker 1: getting married, it prevents people from buying a house. I 143 00:07:25,440 --> 00:07:28,679 Speaker 1: completely accept and believe in every single one of those things, 144 00:07:28,680 --> 00:07:32,240 Speaker 1: but I do question the political wisdom as it was 145 00:07:32,360 --> 00:07:36,239 Speaker 1: in twenty twenty, given where the economy is. Given also 146 00:07:36,520 --> 00:07:38,360 Speaker 1: just the fact that at the end of the day, 147 00:07:38,400 --> 00:07:40,400 Speaker 1: this is zero sum in a way, like some people 148 00:07:40,400 --> 00:07:42,400 Speaker 1: are getting a break and some people are not getting 149 00:07:42,400 --> 00:07:44,440 Speaker 1: a break, especially when we have twenty per what twenty 150 00:07:44,520 --> 00:07:47,160 Speaker 1: year high of credit card debt. So you know, if 151 00:07:47,160 --> 00:07:48,600 Speaker 1: you're younger and you have a lot of credit card 152 00:07:48,640 --> 00:07:50,840 Speaker 1: debt and you didn't go to college, I don't know. 153 00:07:50,920 --> 00:07:52,200 Speaker 1: I mean if I had a ton To be clear, 154 00:07:52,200 --> 00:07:53,480 Speaker 1: I also to put this on the table, I didn't 155 00:07:53,480 --> 00:07:55,320 Speaker 1: have any student that God bless my parents to pay 156 00:07:55,360 --> 00:07:56,960 Speaker 1: for my college. So you know, you should always take 157 00:07:57,000 --> 00:07:58,400 Speaker 1: that with a grain of salt. Whatever I say, I 158 00:07:58,440 --> 00:08:02,240 Speaker 1: didn't suffer the same emotion. I'm looking at it dispassionately, 159 00:08:02,400 --> 00:08:04,200 Speaker 1: and I could see it going both ways. I generally 160 00:08:04,240 --> 00:08:06,960 Speaker 1: don't I genuinely don't know. So I think one indication 161 00:08:07,360 --> 00:08:10,080 Speaker 1: of how it is likely to go politically is the 162 00:08:10,080 --> 00:08:12,120 Speaker 1: fact that over on Fox News they're freaking out about 163 00:08:12,200 --> 00:08:15,440 Speaker 1: Joe Biden buying votes. I mean the arguments. So let 164 00:08:15,440 --> 00:08:18,600 Speaker 1: me take on the case sort of just like on 165 00:08:18,640 --> 00:08:21,320 Speaker 1: a policy level for this, which I've laid out here 166 00:08:21,360 --> 00:08:23,560 Speaker 1: before in the past, about the sort of moral case 167 00:08:23,600 --> 00:08:27,200 Speaker 1: for this. I mean, effectively, you had politicians from both 168 00:08:27,240 --> 00:08:31,400 Speaker 1: parties that destroy the working class, send jobs overseas, bust unions, 169 00:08:31,400 --> 00:08:33,760 Speaker 1: and make it very very difficult to achieve any sort 170 00:08:33,760 --> 00:08:37,199 Speaker 1: of middle class stability. Yes, then what do they offer 171 00:08:37,360 --> 00:08:40,000 Speaker 1: as a response to that? They say, go to college, 172 00:08:40,240 --> 00:08:43,760 Speaker 1: this very individualistic bootstrap. If you want to get ahead, 173 00:08:43,840 --> 00:08:46,040 Speaker 1: this is the path, and we're going to you know, 174 00:08:46,200 --> 00:08:49,440 Speaker 1: make these help support this loan industry so that you 175 00:08:49,480 --> 00:08:51,960 Speaker 1: can go and you can get a college education. And 176 00:08:52,000 --> 00:08:54,800 Speaker 1: so pushing people in that direction has led to an 177 00:08:54,920 --> 00:08:58,320 Speaker 1: entire generation, mostly Millennials and now Gen Z, that were 178 00:08:58,600 --> 00:09:03,400 Speaker 1: overwhelmingly loaded up with debt. It has you see the 179 00:09:03,440 --> 00:09:05,880 Speaker 1: implications of this in terms of the stats we always 180 00:09:05,920 --> 00:09:09,720 Speaker 1: look about. Look at the very small percentage of wealth 181 00:09:09,880 --> 00:09:13,400 Speaker 1: that millennials hold. It's like six three percent of total 182 00:09:13,400 --> 00:09:16,600 Speaker 1: wealth that millennials have versus boomers have sixty percent, the 183 00:09:17,240 --> 00:09:20,600 Speaker 1: late dates of being able to get married, the inability 184 00:09:20,600 --> 00:09:23,600 Speaker 1: to buy a home. A lot of that stems from 185 00:09:23,640 --> 00:09:27,960 Speaker 1: this massive debt load that our leadership class told people 186 00:09:28,000 --> 00:09:30,840 Speaker 1: to take on, that that was the right thing. And 187 00:09:30,920 --> 00:09:34,760 Speaker 1: oftentimes you're making these decisions. I mean I literally was 188 00:09:34,800 --> 00:09:37,040 Speaker 1: applying to colleges when I was sixteen years old and 189 00:09:37,080 --> 00:09:38,959 Speaker 1: taking on this debt when I was seventeen years old. 190 00:09:39,080 --> 00:09:40,920 Speaker 1: You have no real frame of mind, right, So these 191 00:09:40,960 --> 00:09:43,760 Speaker 1: people are like, you're you're an adult when you do this, etc. 192 00:09:44,200 --> 00:09:45,880 Speaker 1: I mean, these are young people and they have been 193 00:09:45,880 --> 00:09:48,360 Speaker 1: told by everybody that this was the path to take. 194 00:09:48,880 --> 00:09:51,679 Speaker 1: So that's number one. I think morally the case is 195 00:09:51,800 --> 00:09:53,559 Speaker 1: very sound and very just, and I don't think it's 196 00:09:53,600 --> 00:09:56,720 Speaker 1: like a populis position to be like, young people deserve 197 00:09:56,800 --> 00:09:58,360 Speaker 1: to be loaded up with mountains of debt for their 198 00:09:58,480 --> 00:10:00,800 Speaker 1: entire life, and I know that's not your and whatsoever. 199 00:10:01,520 --> 00:10:05,040 Speaker 1: I also don't buy this idea, even though I fully 200 00:10:05,280 --> 00:10:10,600 Speaker 1: acknowledge that this is a very incomplete approach. And you know, personally, again, 201 00:10:10,720 --> 00:10:14,520 Speaker 1: I think that public university and community college and trade 202 00:10:14,520 --> 00:10:16,920 Speaker 1: schools should be free. I think you should cancel all 203 00:10:16,960 --> 00:10:20,839 Speaker 1: the debt and make college available universally to everyone. That way, 204 00:10:20,880 --> 00:10:23,200 Speaker 1: it is a universalist policy that benefits everyone. But we 205 00:10:23,280 --> 00:10:26,040 Speaker 1: have to act in the realm of the possible right now, 206 00:10:26,360 --> 00:10:28,960 Speaker 1: and this is what Joe Biden can do with his 207 00:10:29,080 --> 00:10:33,200 Speaker 1: executive power without having Congress to make those broader reforms. 208 00:10:33,200 --> 00:10:34,760 Speaker 1: I also think there's a lot of bad faith in 209 00:10:34,800 --> 00:10:38,160 Speaker 1: the people who are like trying to make this class 210 00:10:38,200 --> 00:10:40,400 Speaker 1: based argument, which I understand of like, Okay, this is 211 00:10:40,400 --> 00:10:42,200 Speaker 1: going to benefit people who went to college and it's 212 00:10:42,200 --> 00:10:44,920 Speaker 1: not going to benefit this other group. But those are 213 00:10:45,400 --> 00:10:48,520 Speaker 1: same people are also not offering like a policy that 214 00:10:48,559 --> 00:10:51,520 Speaker 1: would benefit everyone. They just want to do nothing right, 215 00:10:51,559 --> 00:10:55,200 Speaker 1: and they're used trying to weaponize this class division in 216 00:10:55,320 --> 00:10:57,680 Speaker 1: order to be against this thing that would be good 217 00:10:57,800 --> 00:11:02,040 Speaker 1: for Again, forty three million people would benefit, and ninety 218 00:11:02,040 --> 00:11:04,920 Speaker 1: percent of those beneficiaries make under seventy five thousand dollars 219 00:11:04,960 --> 00:11:07,280 Speaker 1: a year. The last thing that I'll say here is 220 00:11:07,320 --> 00:11:10,240 Speaker 1: sort of like a conservative argument for it. First of all, 221 00:11:10,280 --> 00:11:13,600 Speaker 1: there are potential direct economic benefits that would accrue to 222 00:11:13,640 --> 00:11:17,160 Speaker 1: the nation as a whole. Annual home sales one estimate 223 00:11:17,280 --> 00:11:19,959 Speaker 1: was would rise by a three hundred thousand dollars GDP 224 00:11:20,120 --> 00:11:22,560 Speaker 1: could be lifted by around one hundred billion dollars, so 225 00:11:22,679 --> 00:11:25,640 Speaker 1: it could be significant in terms of the overall economy. 226 00:11:26,000 --> 00:11:27,679 Speaker 1: And then I thought this was really interesting, makes a 227 00:11:27,720 --> 00:11:31,480 Speaker 1: lot of sense. There's a negative correlation between student debt 228 00:11:31,520 --> 00:11:34,200 Speaker 1: and small business formation. So if you're also someone who 229 00:11:34,320 --> 00:11:37,200 Speaker 1: you know, believes in small business formation, believes in entrepreneurship, 230 00:11:37,720 --> 00:11:41,200 Speaker 1: that debt that is laid on students right from the 231 00:11:41,320 --> 00:11:44,640 Speaker 1: jump really really harms their ability to go out and 232 00:11:44,679 --> 00:11:47,000 Speaker 1: create and start their own thing. And a lot of 233 00:11:47,000 --> 00:11:48,679 Speaker 1: the people who are you know who are sort of 234 00:11:48,679 --> 00:11:52,120 Speaker 1: the most sympathetic cases here in pelgrant recipients, etc. A 235 00:11:52,160 --> 00:11:55,200 Speaker 1: lot of people started college, got loaded up with the debt, 236 00:11:55,559 --> 00:11:58,440 Speaker 1: didn't finish, or got the four year career and still 237 00:11:58,480 --> 00:12:00,199 Speaker 1: had to go out and work at Starbucks or work 238 00:12:00,200 --> 00:12:02,840 Speaker 1: in the Amazon warehouse. So I think there's a little 239 00:12:02,840 --> 00:12:06,640 Speaker 1: bit of a caricaturist view of who student loan debt 240 00:12:06,640 --> 00:12:11,120 Speaker 1: holders are. Yes, it's not everybody, and yes, the majority 241 00:12:11,120 --> 00:12:14,080 Speaker 1: of Americans still do not complete for your college. But 242 00:12:14,200 --> 00:12:17,640 Speaker 1: you have a large percentage of working in middle class 243 00:12:17,679 --> 00:12:21,679 Speaker 1: people who will benefit from this policy. And you know, 244 00:12:22,320 --> 00:12:24,000 Speaker 1: I don't think we should let the perfect be the 245 00:12:24,080 --> 00:12:26,480 Speaker 1: enemy of the good, this is on the table, This 246 00:12:26,600 --> 00:12:29,160 Speaker 1: is possible to achieve, and so that's why I ultimately yeah, right, 247 00:12:29,360 --> 00:12:31,400 Speaker 1: I completely get that, and I understand. My problem with 248 00:12:31,440 --> 00:12:33,000 Speaker 1: this is that I think this has probably killed it 249 00:12:33,040 --> 00:12:35,640 Speaker 1: for a generation, and that from this point forward. I mean, 250 00:12:35,679 --> 00:12:37,440 Speaker 1: I have a lot of this breakdown in my monologue, 251 00:12:37,440 --> 00:12:39,880 Speaker 1: but you cancel ten k debt, outstanding debt will return 252 00:12:39,960 --> 00:12:42,520 Speaker 1: back to today's levels in four years. So every single 253 00:12:42,559 --> 00:12:45,120 Speaker 1: person who is so at one point a trillion, this 254 00:12:45,160 --> 00:12:48,199 Speaker 1: is going to knock us down to aly one one 255 00:12:48,200 --> 00:12:50,600 Speaker 1: point twenty five trillion. We'll be back at one point 256 00:12:50,600 --> 00:12:53,360 Speaker 1: eight trillion four years, which effectively means every single person 257 00:12:53,400 --> 00:12:56,240 Speaker 1: who's currently in college right now in four year degree institution, 258 00:12:56,600 --> 00:12:59,520 Speaker 1: those people who are not going to beneficiaries as policy, 259 00:12:59,720 --> 00:13:02,480 Speaker 1: after the last freshman today graduates, we're gonna be right 260 00:13:02,520 --> 00:13:04,199 Speaker 1: back where we started. So it's like, oh, then what 261 00:13:04,880 --> 00:13:06,640 Speaker 1: argues for doing more? I mean, yeah, but it's not 262 00:13:06,679 --> 00:13:08,400 Speaker 1: going to happen. And then that's the issue, which is 263 00:13:08,400 --> 00:13:11,480 Speaker 1: that I just genuinely believe this has killed it, politicized it, 264 00:13:11,520 --> 00:13:13,080 Speaker 1: and made it so that we are not going to 265 00:13:13,080 --> 00:13:15,760 Speaker 1: reform the college degree. And look, I mean I think 266 00:13:15,760 --> 00:13:18,280 Speaker 1: this is where we have to be honest. College administrators 267 00:13:18,280 --> 00:13:20,720 Speaker 1: and college people in general are the base of the 268 00:13:20,760 --> 00:13:24,520 Speaker 1: Democratic Party, like to its most core, the most reply 269 00:13:24,679 --> 00:13:29,360 Speaker 1: guy people that exist online, especially graduate institutions, And to 270 00:13:29,440 --> 00:13:33,280 Speaker 1: destroy this behemoth, you have to effectively bankrupt a large 271 00:13:33,320 --> 00:13:36,600 Speaker 1: percentage of the most reliable Democratic voters. Like I just 272 00:13:36,640 --> 00:13:38,840 Speaker 1: don't think that's politically going to happen. But again from 273 00:13:38,880 --> 00:13:41,160 Speaker 1: the left case, Okay, it's not possible. If it's not 274 00:13:41,200 --> 00:13:44,360 Speaker 1: politically going to happen, anyway, you may as well provide 275 00:13:44,400 --> 00:13:47,040 Speaker 1: a little bit of relief to forty three million people 276 00:13:47,360 --> 00:13:50,480 Speaker 1: in the meantime. And you know, listen, I'm not a 277 00:13:50,480 --> 00:13:52,760 Speaker 1: big believer in the Democratic Party, although I have to 278 00:13:52,760 --> 00:13:54,600 Speaker 1: say that they have surprised me a few times now. 279 00:13:54,640 --> 00:13:56,520 Speaker 1: They've surprised me now at the Chips Act with the 280 00:13:56,559 --> 00:14:00,840 Speaker 1: Inflation Reduction Act, and actually maybe their most suprising gangster 281 00:14:00,920 --> 00:14:03,560 Speaker 1: move was inserting into that Inflation Reduction Act. Will no 282 00:14:03,559 --> 00:14:08,400 Speaker 1: one was looking this leg rebuke. Yeah, it's very interesting. 283 00:14:08,440 --> 00:14:10,280 Speaker 1: So you know, the Supreme Court struck down the EP's 284 00:14:10,320 --> 00:14:12,480 Speaker 1: ability to regulate carbon and they were like, you have 285 00:14:12,559 --> 00:14:15,559 Speaker 1: to legislate this, and Democrats snuck that provision into the 286 00:14:15,600 --> 00:14:18,600 Speaker 1: Inflation Reduction Act while Republicans weren't paying attention, so they 287 00:14:18,600 --> 00:14:20,680 Speaker 1: had surprised me a couple times here. But you know, 288 00:14:21,120 --> 00:14:24,080 Speaker 1: at this point in the electoral landscape, and I'm actually 289 00:14:24,080 --> 00:14:26,400 Speaker 1: talking about this a little bit in my monologue, it's 290 00:14:26,520 --> 00:14:31,040 Speaker 1: not crazy to imagine the Democrats hold the House and 291 00:14:31,160 --> 00:14:34,080 Speaker 1: pick up a couple seats in the Senate, in which case, 292 00:14:34,240 --> 00:14:37,200 Speaker 1: if you pick up if you win the Pennsylvania seat 293 00:14:37,280 --> 00:14:41,080 Speaker 1: versus US, and you win the Wisconsin Sea versus Ron Johnson, 294 00:14:41,120 --> 00:14:43,440 Speaker 1: which probably the more difficult of the two, definitely the 295 00:14:43,520 --> 00:14:45,200 Speaker 1: more difficult of the two, and you hold everything else, 296 00:14:45,200 --> 00:14:47,600 Speaker 1: and right now the polls have them in that position, 297 00:14:48,320 --> 00:14:50,360 Speaker 1: then you don't have to worry about mansion and cinema. 298 00:14:50,720 --> 00:14:54,360 Speaker 1: And then you know, Biden has said before free community 299 00:14:54,400 --> 00:14:56,800 Speaker 1: college was something that was really important to him that 300 00:14:56,880 --> 00:15:00,280 Speaker 1: he actually cared about. Well then not actually as back 301 00:15:00,320 --> 00:15:03,120 Speaker 1: on the table, I also want to say that, you know, 302 00:15:03,200 --> 00:15:05,080 Speaker 1: one of the other things that they do here that 303 00:15:05,160 --> 00:15:09,200 Speaker 1: goes beyond the headline, Okay, ten K or twenty K 304 00:15:09,240 --> 00:15:12,560 Speaker 1: if you're a pelgrant recipient debt relief, is the fact 305 00:15:12,560 --> 00:15:16,200 Speaker 1: that they made it more affordable for everyone blanket across 306 00:15:16,240 --> 00:15:19,960 Speaker 1: the board by limiting student debt payments to five percent 307 00:15:20,080 --> 00:15:23,920 Speaker 1: of income. That is a more sweeping change. They also 308 00:15:24,040 --> 00:15:27,000 Speaker 1: have in hear some things about trying like more transparency 309 00:15:27,000 --> 00:15:28,840 Speaker 1: around costs and whatever. I think all of that is 310 00:15:28,920 --> 00:15:31,600 Speaker 1: ultimately kind of ill. I just don't care, kind of meaningless. Yeah, 311 00:15:31,640 --> 00:15:33,280 Speaker 1: I mean, it's sort of like in the Trump administration 312 00:15:33,360 --> 00:15:36,560 Speaker 1: they did this hospital thing, hospital drinking transfer did absolutely nothing, 313 00:15:36,560 --> 00:15:37,880 Speaker 1: So I don't have a lot of confidence in that. 314 00:15:38,320 --> 00:15:42,120 Speaker 1: But it is a broader reform, this five percent income 315 00:15:42,200 --> 00:15:46,240 Speaker 1: limit for people and also making and this actually could 316 00:15:46,240 --> 00:15:48,120 Speaker 1: make a difference. There's a program in a place right 317 00:15:48,120 --> 00:15:50,320 Speaker 1: now where if you're a public servant, you can have 318 00:15:50,400 --> 00:15:53,120 Speaker 1: your debt discharged. I think it's ten years and it's 319 00:15:53,800 --> 00:15:58,360 Speaker 1: it's the program theoretically exists but is so mismanaged and 320 00:15:58,400 --> 00:16:00,600 Speaker 1: disastrous that almost no one can make use of it. 321 00:16:00,680 --> 00:16:03,560 Speaker 1: So actually making that like useful would would be a 322 00:16:03,560 --> 00:16:06,840 Speaker 1: big difference. Let's go ahead and put up the cost 323 00:16:07,080 --> 00:16:08,680 Speaker 1: estimates just so we can give you some of the 324 00:16:08,720 --> 00:16:11,640 Speaker 1: more some of the details in terms of the numbers here. 325 00:16:11,720 --> 00:16:14,680 Speaker 1: So one of the estimates found that this could cost 326 00:16:15,000 --> 00:16:19,760 Speaker 1: three hundred billion dollars. They are this is actually before 327 00:16:19,840 --> 00:16:22,080 Speaker 1: they added in the twenty thousand dollars of forgiveness, So 328 00:16:22,080 --> 00:16:25,160 Speaker 1: they're updating this to see one thing that So on 329 00:16:25,200 --> 00:16:26,880 Speaker 1: the one hand, it could be more than this. On 330 00:16:26,920 --> 00:16:28,760 Speaker 1: the other hand, it's also important to keep in mind 331 00:16:28,880 --> 00:16:31,720 Speaker 1: that a lot of this debt was never going to 332 00:16:31,760 --> 00:16:35,440 Speaker 1: get paid off. Yes, a lot of you know borrowers. 333 00:16:35,480 --> 00:16:37,920 Speaker 1: I think it's like one out of five bars was 334 00:16:37,920 --> 00:16:40,960 Speaker 1: already in default. You have ninety percent of bars right 335 00:16:40,960 --> 00:16:43,800 Speaker 1: now who say they are not prepared for student debt 336 00:16:43,800 --> 00:16:47,520 Speaker 1: payments to restart. So you know, the reality of the 337 00:16:47,560 --> 00:16:50,760 Speaker 1: situation is, especially with that Obama era program that limits 338 00:16:50,800 --> 00:16:53,160 Speaker 1: the amount that you have to pay in, a bulk 339 00:16:53,200 --> 00:16:57,520 Speaker 1: of this debt was probably never going to be paid. Ultimately, 340 00:16:58,080 --> 00:17:00,080 Speaker 1: this is all fake, and that's that's why I I 341 00:17:00,080 --> 00:17:02,480 Speaker 1: also get frustrated by the logo's gonna pay. Listen, this 342 00:17:02,520 --> 00:17:04,440 Speaker 1: is allbs. It's a lot like Social Security. For my 343 00:17:04,520 --> 00:17:07,320 Speaker 1: agent Pacial social Security, good luck trying to collect when 344 00:17:07,320 --> 00:17:08,960 Speaker 1: you're sixty five. I think we all know this is 345 00:17:09,000 --> 00:17:10,960 Speaker 1: not gonna happen. Probably going to take a haircut of 346 00:17:11,000 --> 00:17:14,000 Speaker 1: like two thirds. This is also probably the exact same thing. 347 00:17:14,040 --> 00:17:17,280 Speaker 1: So in terms of the collective future, and the actual numbers, 348 00:17:17,359 --> 00:17:19,159 Speaker 1: I don't decide. I think people trying to make it 349 00:17:19,200 --> 00:17:21,960 Speaker 1: like you're going to like directly pay for it. Now, 350 00:17:22,000 --> 00:17:23,760 Speaker 1: that's not how the government works. I'm always going to 351 00:17:23,840 --> 00:17:26,040 Speaker 1: argue that type of video. Yeah, politically though, not a 352 00:17:26,119 --> 00:17:28,560 Speaker 1: terrible point for the Republicans to hammer home. So I 353 00:17:28,600 --> 00:17:30,639 Speaker 1: really just think that it comes down to and this 354 00:17:30,720 --> 00:17:32,560 Speaker 1: is also, by the way, my problem with free community college. 355 00:17:32,560 --> 00:17:34,119 Speaker 1: I don't think most of these people deserve jobs at 356 00:17:34,119 --> 00:17:35,800 Speaker 1: these colleges. I think it's all fake. I think they're 357 00:17:35,840 --> 00:17:38,440 Speaker 1: full of it. I mean, I've been reading a very 358 00:17:38,440 --> 00:17:41,119 Speaker 1: interesting leame My monologue about the number of diversity, equity 359 00:17:41,119 --> 00:17:44,480 Speaker 1: and inclusion staffers. They're getting paid full salaries, all based 360 00:17:44,520 --> 00:17:46,960 Speaker 1: on tuition bloat, which is funded by a lot of 361 00:17:46,960 --> 00:17:49,040 Speaker 1: these student loans. I mean, I think the fact is 362 00:17:49,040 --> 00:17:51,000 Speaker 1: is that you have to burn the system basically to 363 00:17:51,119 --> 00:17:54,440 Speaker 1: the ground all the way to nineteen ninety two era 364 00:17:54,520 --> 00:17:58,160 Speaker 1: of when like this was actually affordable accessible. That's when 365 00:17:58,240 --> 00:18:00,520 Speaker 1: around twenty something percent of the us PO population was 366 00:18:00,560 --> 00:18:03,520 Speaker 1: going to college. I think that's frankly probably about right. Well. 367 00:18:03,560 --> 00:18:07,720 Speaker 1: What happened, in part is that these colleges became like businesses. 368 00:18:07,760 --> 00:18:10,160 Speaker 1: They look at the LSU. They have a lazy river 369 00:18:10,240 --> 00:18:13,320 Speaker 1: going through their campus. I'm sorry, that's insane that the 370 00:18:13,359 --> 00:18:16,880 Speaker 1: taxpayers are paying things well. And that is the thing 371 00:18:16,960 --> 00:18:21,280 Speaker 1: is like they became like businesses. There was an effort 372 00:18:21,480 --> 00:18:24,600 Speaker 1: starting in California with Reagan actually to really strip a 373 00:18:24,600 --> 00:18:27,520 Speaker 1: lot of the state funding. So then they had to 374 00:18:27,560 --> 00:18:30,800 Speaker 1: go out into the market and like attract and market 375 00:18:31,119 --> 00:18:34,439 Speaker 1: towards students. And I guess which students they want to attract. 376 00:18:34,520 --> 00:18:37,359 Speaker 1: They want to attract wealthy students who can donate and 377 00:18:37,400 --> 00:18:40,520 Speaker 1: who can you know, like fill up their coffers. And 378 00:18:40,600 --> 00:18:44,040 Speaker 1: so they created all of these and there's administrative blow 379 00:18:44,119 --> 00:18:48,040 Speaker 1: but it's also all these like luxury amenities, the lazy rigs, 380 00:18:48,400 --> 00:18:51,840 Speaker 1: the FA challenge services. So I mean it's you know, 381 00:18:52,000 --> 00:18:55,600 Speaker 1: it comes ultimately part of that is that the state 382 00:18:55,640 --> 00:18:58,960 Speaker 1: took a step back from having a direct interest and 383 00:18:59,040 --> 00:19:02,240 Speaker 1: so there was no incentive to keep costs under control. 384 00:19:02,520 --> 00:19:06,160 Speaker 1: When California universities, which were, you know and still are 385 00:19:06,200 --> 00:19:09,360 Speaker 1: some of the best in the nation, when their funding 386 00:19:09,440 --> 00:19:13,199 Speaker 1: was significantly stripped, then that totally changed the economic model 387 00:19:13,280 --> 00:19:16,560 Speaker 1: and landscape. So I completely agree that's a problem. I 388 00:19:16,720 --> 00:19:19,000 Speaker 1: just don't think that the fact that you're not solving 389 00:19:19,080 --> 00:19:22,840 Speaker 1: every problem right now, isn't a reason to do what 390 00:19:23,040 --> 00:19:25,360 Speaker 1: we can do at this point in time and give 391 00:19:25,400 --> 00:19:27,960 Speaker 1: people a little bit of relief. I heary, Sam. Let's 392 00:19:28,000 --> 00:19:30,920 Speaker 1: go ahead and go to this next piece about how 393 00:19:30,920 --> 00:19:34,000 Speaker 1: they are justifying this in terms of the sort of 394 00:19:34,080 --> 00:19:38,160 Speaker 1: legal backing. It's interesting because Sagar and maybe you looked 395 00:19:38,200 --> 00:19:40,440 Speaker 1: into this more. It seems like there are two potential 396 00:19:40,600 --> 00:19:43,520 Speaker 1: justifications for this. So the memo they put out cites 397 00:19:43,520 --> 00:19:45,840 Speaker 1: a Post nine to eleven law that allows for debt 398 00:19:45,840 --> 00:19:49,040 Speaker 1: cancelation connection with a war or other military operation or 399 00:19:49,119 --> 00:19:53,160 Speaker 1: national emergency. They're saying the COVID pandemic is that emergency 400 00:19:53,160 --> 00:19:56,360 Speaker 1: that justifies the use of this. It's called the Heroes 401 00:19:56,400 --> 00:20:00,160 Speaker 1: Act of two thousand and three. It fairly directly, it's 402 00:19:59,840 --> 00:20:02,960 Speaker 1: a It authorizes as a Secretary to quote, wave, or 403 00:20:03,000 --> 00:20:06,560 Speaker 1: modify any statutory or regulatory provision applicable to these student 404 00:20:06,600 --> 00:20:09,960 Speaker 1: financial assistance programs if the Secretary deemed such waivers or 405 00:20:09,960 --> 00:20:14,640 Speaker 1: modifications necessary to ensure at least one of several numerated purposes, 406 00:20:14,640 --> 00:20:17,639 Speaker 1: including that bars are not placed in a worse position 407 00:20:17,720 --> 00:20:21,439 Speaker 1: financially because of a national emergency. There's Also, you know, 408 00:20:21,520 --> 00:20:24,520 Speaker 1: presidents including Biden, including Trump, including Obama, for a long 409 00:20:24,560 --> 00:20:29,720 Speaker 1: time have used this Education Act legal justification to give 410 00:20:29,960 --> 00:20:33,800 Speaker 1: selective student loan debt relief, like the public servant program 411 00:20:33,840 --> 00:20:37,080 Speaker 1: that I was talking about before, you know, service members. 412 00:20:37,520 --> 00:20:40,000 Speaker 1: I think there was a provision from Biden this year 413 00:20:40,000 --> 00:20:44,240 Speaker 1: of Memory Serves correctly specifically targeted disabled service members. So 414 00:20:44,840 --> 00:20:48,600 Speaker 1: it's been used in the past to grant a debt relief, 415 00:20:48,960 --> 00:20:51,560 Speaker 1: just not in quite as wide scale of a faction. 416 00:20:51,640 --> 00:20:53,639 Speaker 1: It's really weird that they chose to go with the 417 00:20:53,680 --> 00:20:56,960 Speaker 1: Heroes Act because there's actually a provision under Obamacare which 418 00:20:57,000 --> 00:21:00,760 Speaker 1: is probably more legally justifiable and sound. So Mamacare had 419 00:21:01,040 --> 00:21:04,159 Speaker 1: a federal student loan takeover as part of its actual 420 00:21:04,240 --> 00:21:06,240 Speaker 1: pay for in terms of how they were going to 421 00:21:06,240 --> 00:21:09,600 Speaker 1: make it go forward, and there are provisions within Obamacare 422 00:21:09,640 --> 00:21:12,399 Speaker 1: that actually allow the President to go and to cancel 423 00:21:12,480 --> 00:21:15,320 Speaker 1: debt or at least to take and federalize the program 424 00:21:15,359 --> 00:21:17,680 Speaker 1: in a much more direct manner. So I think it's 425 00:21:17,800 --> 00:21:20,800 Speaker 1: incredibly odd that they went with COVID as the reason 426 00:21:21,119 --> 00:21:23,719 Speaker 1: to do so. And actually, from what I understand, this 427 00:21:23,800 --> 00:21:26,800 Speaker 1: could phase a real problem at the Supreme Court if 428 00:21:27,080 --> 00:21:28,600 Speaker 1: it goes up there. Let's go and put this up 429 00:21:28,640 --> 00:21:30,320 Speaker 1: there on the screen. This isn't just from here. I've 430 00:21:30,320 --> 00:21:33,159 Speaker 1: asked around in the legal community, and apparently this is 431 00:21:33,240 --> 00:21:36,120 Speaker 1: pretty sound, which is that the Supreme Court may actually 432 00:21:36,119 --> 00:21:38,920 Speaker 1: reject it because and this can look at it under 433 00:21:38,960 --> 00:21:43,119 Speaker 1: the same scrutiny of which we'll recall the CDC eviction moratorium. 434 00:21:43,160 --> 00:21:46,200 Speaker 1: You remember that Kavanaugh was like, Hey, CDC, you can't 435 00:21:46,240 --> 00:21:48,480 Speaker 1: just use COVID as a reason in order to extend this. 436 00:21:48,760 --> 00:21:51,440 Speaker 1: You need to go and enact this program through Congress. 437 00:21:51,480 --> 00:21:53,000 Speaker 1: I'm going to allow this to go on for I 438 00:21:53,000 --> 00:21:55,120 Speaker 1: think it was like sixty days or something like that. Well, 439 00:21:55,240 --> 00:21:57,520 Speaker 1: eventually what happened is the sixty days expired. Congress did 440 00:21:57,560 --> 00:22:00,399 Speaker 1: not ultimately pass it until the Supreme Court through and 441 00:22:00,400 --> 00:22:02,200 Speaker 1: actually struck it down, and there was some sort of 442 00:22:02,280 --> 00:22:05,399 Speaker 1: daytime that was reached. This actually could have the same problem. 443 00:22:05,440 --> 00:22:07,520 Speaker 1: And I think that's also part of the problem with 444 00:22:07,600 --> 00:22:10,840 Speaker 1: this with the COVID justification, which is that at the 445 00:22:10,840 --> 00:22:12,680 Speaker 1: same time, I mean, here's the thing, they're ending other 446 00:22:12,720 --> 00:22:16,359 Speaker 1: programs like Title forty two down at the border saying oh, well, 447 00:22:16,359 --> 00:22:19,280 Speaker 1: actually we're gonna end this even because the COVID pandemic 448 00:22:19,400 --> 00:22:21,720 Speaker 1: is slowing down, but we're also going to declare a 449 00:22:21,720 --> 00:22:24,520 Speaker 1: public health emergency and use it to cancel student debt. Look, 450 00:22:24,520 --> 00:22:26,480 Speaker 1: I understand that the people who are recipients as a 451 00:22:26,480 --> 00:22:29,320 Speaker 1: policy don't care whatsoever, But I'm just saying, you know, 452 00:22:29,440 --> 00:22:31,680 Speaker 1: we have found out the hard way in the past 453 00:22:32,000 --> 00:22:34,840 Speaker 1: that using novel interpretations of the law, while it can 454 00:22:34,880 --> 00:22:37,800 Speaker 1: be cool, does not necessarily stand up. And so this 455 00:22:37,880 --> 00:22:41,080 Speaker 1: could very very certainly go all the way up to 456 00:22:41,160 --> 00:22:43,880 Speaker 1: the Supreme Court. I just I think it's really strange 457 00:22:43,920 --> 00:22:46,280 Speaker 1: that they went this way and not with the Obamacare. 458 00:22:46,280 --> 00:22:49,240 Speaker 1: With Obamacare gives them a much more direct statute in 459 00:22:49,320 --> 00:22:50,919 Speaker 1: order to do this. They probably did it because this 460 00:22:51,000 --> 00:22:53,760 Speaker 1: is a faster way and less administrative in order to 461 00:22:53,840 --> 00:22:55,960 Speaker 1: go about Really, but here's the thing, I mean, from 462 00:22:56,000 --> 00:22:57,960 Speaker 1: what I understand, they've been looking at this for a year, 463 00:22:58,200 --> 00:23:01,280 Speaker 1: So like, why didn't you just use the better I mean, 464 00:23:01,800 --> 00:23:04,240 Speaker 1: had really sort of given up on but promised this 465 00:23:04,440 --> 00:23:06,600 Speaker 1: very directly on the campaign. I mean one of the 466 00:23:06,600 --> 00:23:09,800 Speaker 1: things he repeatedly, you know, talked about at least they 467 00:23:09,800 --> 00:23:12,040 Speaker 1: would say at least ten thousand dollars in student debt relief. 468 00:23:12,400 --> 00:23:15,760 Speaker 1: And so I think That's how ultimately progressives we're able 469 00:23:15,800 --> 00:23:17,960 Speaker 1: to sort of shame him into really taking action here, 470 00:23:17,960 --> 00:23:20,520 Speaker 1: because obviously he was a little bit like this. You know, 471 00:23:20,560 --> 00:23:23,760 Speaker 1: this isn't a neoliberal kind of thing to do, like 472 00:23:23,960 --> 00:23:27,600 Speaker 1: direct debt relief. Looking at something and saying, okay, the 473 00:23:27,680 --> 00:23:30,240 Speaker 1: problems people have too much debt, We're just going to 474 00:23:30,359 --> 00:23:33,199 Speaker 1: cancel some of that debt is a very not neoliberal 475 00:23:33,200 --> 00:23:35,760 Speaker 1: thing to do. The typical neoliberal approach would be like, 476 00:23:35,960 --> 00:23:38,280 Speaker 1: let's have a tax credit, let's have an incentive, let's 477 00:23:38,280 --> 00:23:42,399 Speaker 1: have a program. So in that way, even though again 478 00:23:42,520 --> 00:23:45,560 Speaker 1: I would like to see more, it is a real 479 00:23:45,840 --> 00:23:50,120 Speaker 1: sign again of a sort of break with the neoliberal order, 480 00:23:50,320 --> 00:23:54,520 Speaker 1: which is remarkable given that Biden was not just like 481 00:23:54,560 --> 00:23:58,440 Speaker 1: a participant in but a real architect of that neoliberal 482 00:23:58,560 --> 00:24:01,680 Speaker 1: order throughout his career and also you know, certainly during 483 00:24:01,720 --> 00:24:05,720 Speaker 1: the Obama administration. But in terms of the legal justificationalism, 484 00:24:05,760 --> 00:24:08,159 Speaker 1: I'm going to let other people who are more versed 485 00:24:08,160 --> 00:24:11,280 Speaker 1: in this do the deep analysis. All I can say 486 00:24:11,440 --> 00:24:16,360 Speaker 1: is that presidents have routinely used the authority that they 487 00:24:16,440 --> 00:24:19,280 Speaker 1: have to grant student loan debt relief. Yes, it has 488 00:24:19,320 --> 00:24:21,800 Speaker 1: not been this broad and as sweeping, But most of 489 00:24:21,840 --> 00:24:24,199 Speaker 1: the analysis that I've read says that this is on 490 00:24:24,280 --> 00:24:29,119 Speaker 1: relatively for legal footing. Then again, it's not like the 491 00:24:29,119 --> 00:24:32,639 Speaker 1: Supreme Court really is like honestly parsing through the law 492 00:24:32,680 --> 00:24:34,960 Speaker 1: and precedent and whatever. They're trying to come up with 493 00:24:34,960 --> 00:24:37,520 Speaker 1: the justification for whatever they ideologically want to do. So 494 00:24:37,560 --> 00:24:39,159 Speaker 1: I don't want to bet on that, but I'm very 495 00:24:39,240 --> 00:24:42,760 Speaker 1: much in favor ultimately of the president doing things that 496 00:24:42,800 --> 00:24:45,119 Speaker 1: are good and popular, and if they get challenged in 497 00:24:45,160 --> 00:24:46,600 Speaker 1: court and the court wants to say we're going to 498 00:24:46,680 --> 00:24:48,840 Speaker 1: take this away, then okay, we'll go down that road. 499 00:24:49,240 --> 00:24:52,880 Speaker 1: But so ultimately we'll see what happens here. The last 500 00:24:52,880 --> 00:24:55,080 Speaker 1: thing that I wanted to note that I thought was 501 00:24:55,240 --> 00:24:58,520 Speaker 1: interesting in terms of the sort of sort of bigger conversation. 502 00:24:59,000 --> 00:25:01,560 Speaker 1: Ryan Cooper had a good piece that said, let's go 503 00:25:01,600 --> 00:25:03,480 Speaker 1: ahead and put this up on the screen. This last article, 504 00:25:03,560 --> 00:25:05,680 Speaker 1: Joe Biden's student debt forgiveness, is a good start, which 505 00:25:05,720 --> 00:25:07,560 Speaker 1: is kind of how I think about it too. He 506 00:25:07,640 --> 00:25:09,760 Speaker 1: points out, and this is crazy, and this goes to 507 00:25:09,920 --> 00:25:13,800 Speaker 1: the stupidity of the neoliberal approach to doing things. The 508 00:25:13,800 --> 00:25:18,000 Speaker 1: federal government already spends about fifteen percent more on all 509 00:25:18,040 --> 00:25:21,280 Speaker 1: of its various indirect higher education subsidies than the sum 510 00:25:21,480 --> 00:25:25,439 Speaker 1: total of all tuition at public colleges and universities. So 511 00:25:25,520 --> 00:25:28,080 Speaker 1: the money is already there. So it's just a way 512 00:25:28,119 --> 00:25:30,080 Speaker 1: of saying, like, the way we're doing this right now 513 00:25:30,160 --> 00:25:33,760 Speaker 1: writ large is really stupid, it's really not cost effective, 514 00:25:33,800 --> 00:25:35,960 Speaker 1: and there is definitely a lot more to be done. 515 00:25:36,080 --> 00:25:38,000 Speaker 1: I think also before we move on, we should probably 516 00:25:38,000 --> 00:25:42,600 Speaker 1: address the inflation debate on this. Yeah. Actually that's important because, yeah, 517 00:25:42,640 --> 00:25:44,320 Speaker 1: this is one of I think this is one of 518 00:25:44,359 --> 00:25:48,280 Speaker 1: the more salient critiques of taking this move right now. 519 00:25:49,040 --> 00:25:52,320 Speaker 1: You know, Larry Summers and Jason Furman, former Obama economists, 520 00:25:52,359 --> 00:25:55,240 Speaker 1: are very aggressively saying like this is going to be inflationary, 521 00:25:55,320 --> 00:25:57,399 Speaker 1: this is the wrong thing to do at the wrong time, 522 00:25:58,520 --> 00:26:01,600 Speaker 1: the thing that So there's two problems I have with 523 00:26:01,640 --> 00:26:06,000 Speaker 1: that analysis. Number One, people are already not paying their 524 00:26:06,000 --> 00:26:10,200 Speaker 1: Student Loansact payments been inflationary since we paused it in 525 00:26:10,240 --> 00:26:12,040 Speaker 1: March of twelve, So it's like, I mean, we're not 526 00:26:12,160 --> 00:26:15,120 Speaker 1: really changing the baseline right now. People are still not 527 00:26:15,160 --> 00:26:18,320 Speaker 1: going to be making those payments until December thirty first. 528 00:26:18,680 --> 00:26:21,000 Speaker 1: But I also, you know, and we've talked about this 529 00:26:21,040 --> 00:26:24,000 Speaker 1: a lot. I really object to this idea that number one, 530 00:26:24,040 --> 00:26:27,040 Speaker 1: inflation is primarily driven by the fact that people got 531 00:26:27,080 --> 00:26:29,040 Speaker 1: a little more money in their pocket. I don't deny 532 00:26:29,080 --> 00:26:33,280 Speaker 1: that that had an impact. But the bigger problem is 533 00:26:33,400 --> 00:26:38,000 Speaker 1: the energy prices skyrocketing. The bigger problem is the supply chains. 534 00:26:38,040 --> 00:26:41,239 Speaker 1: The bigger problem is corporate price gouging. And so I 535 00:26:41,440 --> 00:26:45,439 Speaker 1: really object to this almost like sociopathic idea that is 536 00:26:45,440 --> 00:26:49,159 Speaker 1: ascended among elite economists and among the FED, that the 537 00:26:49,200 --> 00:26:51,679 Speaker 1: only way we can deal with the inflation issue is 538 00:26:51,720 --> 00:26:54,680 Speaker 1: basically by crushing the working class and forcing a recession 539 00:26:54,760 --> 00:26:56,399 Speaker 1: and making them feel a lot of paper. Yeah. I mean, 540 00:26:57,040 --> 00:26:58,879 Speaker 1: so here's the thing. It's actually a terrible way in 541 00:26:58,960 --> 00:27:01,440 Speaker 1: order to boost the economy. Yeah, wanted to boost the economy. 542 00:27:01,480 --> 00:27:04,399 Speaker 1: As we said frankly, it's a deflationary move if you 543 00:27:04,480 --> 00:27:08,360 Speaker 1: make people start paying their payments back in the future. 544 00:27:08,440 --> 00:27:11,040 Speaker 1: So in a way, we've already had the inflationary move 545 00:27:11,080 --> 00:27:13,520 Speaker 1: by pausing student debt, really our student payments for the 546 00:27:13,600 --> 00:27:16,280 Speaker 1: last two years. It's complicated more. What I would say 547 00:27:16,440 --> 00:27:18,399 Speaker 1: is I generally have no idea. I mean, will it 548 00:27:18,440 --> 00:27:21,240 Speaker 1: actually impact consumer spending? There's not really a whole lot 549 00:27:21,240 --> 00:27:23,800 Speaker 1: of evidence either way that you buy pausing it, that 550 00:27:23,840 --> 00:27:26,119 Speaker 1: we did boost consumer spending, and that by taking it 551 00:27:26,160 --> 00:27:29,520 Speaker 1: away and then restarting payments that we won't ultimately see 552 00:27:29,520 --> 00:27:31,800 Speaker 1: a wash. So I think it's probably fifty to fifty. 553 00:27:31,880 --> 00:27:34,359 Speaker 1: We'd be better off like doing a hell of a 554 00:27:34,359 --> 00:27:36,760 Speaker 1: lot more in the oil markets if you really wanted to, Like, 555 00:27:36,840 --> 00:27:38,840 Speaker 1: if you want to solve inflation, we should, you know, 556 00:27:39,040 --> 00:27:40,960 Speaker 1: or hey, listen, you know, you could end certain sanctions 557 00:27:40,960 --> 00:27:43,159 Speaker 1: on Russia that actually probably have way more or we 558 00:27:43,200 --> 00:27:45,359 Speaker 1: could pressure the Crown Prints in order to you know. 559 00:27:45,400 --> 00:27:47,159 Speaker 1: I don't know if people know this, but only a 560 00:27:47,200 --> 00:27:49,919 Speaker 1: couple of days ago, the Crown Prints in Saudi Arabia 561 00:27:49,920 --> 00:27:52,280 Speaker 1: said they were going to cut oil production despite promises 562 00:27:52,320 --> 00:27:54,240 Speaker 1: to Biden. That is going to have like ten x 563 00:27:54,280 --> 00:27:57,440 Speaker 1: more of a impact than a lot of this will. 564 00:27:57,560 --> 00:27:59,640 Speaker 1: In general, I think it'll be a wash. That being said, 565 00:27:59,680 --> 00:28:01,919 Speaker 1: pull it. I have no idea. I mean, I do 566 00:28:01,960 --> 00:28:03,200 Speaker 1: think a lot of people are going to get pissed 567 00:28:03,200 --> 00:28:05,280 Speaker 1: off by this, And I don't think we should underrate 568 00:28:05,320 --> 00:28:06,960 Speaker 1: the boomer I mean, there's a lot of boomer people 569 00:28:07,119 --> 00:28:10,240 Speaker 1: who look, I don't agree with their analysis. I guess 570 00:28:10,240 --> 00:28:12,360 Speaker 1: I understand where they're coming from. They're like, well, when 571 00:28:12,359 --> 00:28:14,440 Speaker 1: I was in college, you know, I have a janitor's 572 00:28:14,520 --> 00:28:16,639 Speaker 1: job and swept my way through. Listen, I mean, college 573 00:28:16,640 --> 00:28:19,120 Speaker 1: cost is balloon since then. It's just simply not the case. 574 00:28:19,240 --> 00:28:20,560 Speaker 1: But a lot of these people just don't want to 575 00:28:20,600 --> 00:28:22,920 Speaker 1: hear the truth, which is that college is probably exploded 576 00:28:22,920 --> 00:28:25,840 Speaker 1: by two thousand to twenty five hundred percent in terms 577 00:28:25,840 --> 00:28:27,919 Speaker 1: of cost since they were there. But they're just not 578 00:28:27,960 --> 00:28:29,720 Speaker 1: going to accept that, and so they are going to 579 00:28:29,720 --> 00:28:32,879 Speaker 1: be angry. So politically I could see them, you know, 580 00:28:32,920 --> 00:28:34,880 Speaker 1: in the same way that a lot of Republican messaging 581 00:28:34,920 --> 00:28:38,160 Speaker 1: around consumer spending and checks being the major cause of inflation. 582 00:28:38,320 --> 00:28:40,920 Speaker 1: I could see this kind of falling within that trap. 583 00:28:40,920 --> 00:28:43,320 Speaker 1: But it's all political wash. I don't know. But checks 584 00:28:43,400 --> 00:28:46,200 Speaker 1: ultimately were massive political benefits. I don't raise that they 585 00:28:46,200 --> 00:28:49,560 Speaker 1: gave a mouse right. And you have a lot of 586 00:28:49,680 --> 00:28:52,800 Speaker 1: people beyond the forty three million who will directly benefit. 587 00:28:52,840 --> 00:28:54,760 Speaker 1: You have a lot of people who will sort of 588 00:28:54,960 --> 00:28:58,560 Speaker 1: benefit indirectly, who maybe are helping with those payments, or 589 00:28:58,560 --> 00:29:00,560 Speaker 1: who are the boyfriend or the girl friend, or the 590 00:29:00,920 --> 00:29:04,000 Speaker 1: husband or wife of the student loan deadholder or the 591 00:29:04,480 --> 00:29:07,320 Speaker 1: parents or grandparents who are you know, have had to 592 00:29:07,400 --> 00:29:09,320 Speaker 1: kick in at times to help their kids to be 593 00:29:09,360 --> 00:29:13,960 Speaker 1: able to shoulder this burden. So to me, I think, 594 00:29:14,120 --> 00:29:16,960 Speaker 1: you know, nobody knows for sure how the politics of 595 00:29:16,960 --> 00:29:18,960 Speaker 1: this will play out, but I'm a lot more confident 596 00:29:19,040 --> 00:29:22,440 Speaker 1: that material politics ultimately are a good thing, that the 597 00:29:22,440 --> 00:29:25,000 Speaker 1: people who benefit from them, you know, are much more 598 00:29:25,080 --> 00:29:27,480 Speaker 1: likely to then come out and vote, have a reason 599 00:29:27,480 --> 00:29:29,880 Speaker 1: to vote, have a reason to feel loyalty to that party. 600 00:29:30,320 --> 00:29:33,640 Speaker 1: And it's hard for me to imagine people being like 601 00:29:33,840 --> 00:29:37,480 Speaker 1: single issue voters being pissed off that someone else got 602 00:29:37,480 --> 00:29:41,080 Speaker 1: a benefit that they didn't directly benefit from. But it's 603 00:29:41,320 --> 00:29:44,800 Speaker 1: obviously multifaceted. Yeah, no idea, it's cursure, all right. So 604 00:29:44,880 --> 00:29:48,120 Speaker 1: let's talk about the midterms. Nice segue there. So we 605 00:29:48,200 --> 00:29:51,640 Speaker 1: had some very interesting results this week in the primaries, 606 00:29:51,680 --> 00:29:54,520 Speaker 1: and also very interesting results in terms of this New 607 00:29:54,640 --> 00:29:57,480 Speaker 1: York special election that we have been looking forward to 608 00:29:57,640 --> 00:30:01,360 Speaker 1: for quite a while now, because this disc in upstate 609 00:30:01,440 --> 00:30:05,960 Speaker 1: New York is as sort of evenly divided and swingy 610 00:30:06,080 --> 00:30:08,920 Speaker 1: of a district as it possibly could be. This is 611 00:30:08,960 --> 00:30:11,440 Speaker 1: a district that went by a point and a half 612 00:30:11,640 --> 00:30:14,840 Speaker 1: to Biden it's been represented by Democrats, it's been represented 613 00:30:14,840 --> 00:30:18,400 Speaker 1: by Republicans. Upstate New York is also one of the 614 00:30:18,440 --> 00:30:21,960 Speaker 1: areas where Democrats were getting shell ACKed as like you know, 615 00:30:22,000 --> 00:30:25,400 Speaker 1: Canary and the coal Mine for previous midterm disasters. So 616 00:30:25,440 --> 00:30:28,640 Speaker 1: everybody's watching this really closely. And you had two candidates 617 00:30:28,720 --> 00:30:32,280 Speaker 1: who were both pretty strong, both established politicians in the 618 00:30:32,320 --> 00:30:35,200 Speaker 1: area that represented significant parts of the district, and the 619 00:30:35,240 --> 00:30:37,719 Speaker 1: Republican in particular, Mark Molinaro was seen as a very 620 00:30:37,720 --> 00:30:40,480 Speaker 1: good candidate. He's more of a moderate Republican. He's tried 621 00:30:40,520 --> 00:30:42,680 Speaker 1: to sort of like have a moderate stance on abortion 622 00:30:42,800 --> 00:30:46,200 Speaker 1: and other issues. He represents and has for a long 623 00:30:46,280 --> 00:30:49,000 Speaker 1: time one of the more significant areas in the district. 624 00:30:49,000 --> 00:30:51,200 Speaker 1: So I was expected and he did, he would outperform 625 00:30:51,240 --> 00:30:55,560 Speaker 1: in that county. But ultimately the Democrat really defied the 626 00:30:55,560 --> 00:30:58,320 Speaker 1: pulling here and ended up pulling off a clear victory. 627 00:30:58,360 --> 00:30:59,800 Speaker 1: Let's go ahead and put this up on the screen. 628 00:31:00,840 --> 00:31:03,720 Speaker 1: Pat Ryan, this Business Insider piece says he wrote a 629 00:31:03,760 --> 00:31:07,280 Speaker 1: wave of fire, anger and indignation over abortion and guns 630 00:31:07,320 --> 00:31:09,920 Speaker 1: to secure a major special election victory for Democrats in 631 00:31:09,920 --> 00:31:13,880 Speaker 1: New York. When I checked the margin last night, it 632 00:31:13,960 --> 00:31:17,280 Speaker 1: was right around too points that pat Ryan had won 633 00:31:17,320 --> 00:31:19,640 Speaker 1: by their still counting some of the late absentee ballots, 634 00:31:19,640 --> 00:31:22,800 Speaker 1: but it looks like he outperformed by a little bit 635 00:31:23,080 --> 00:31:27,080 Speaker 1: how Biden did in the district, which is quite encouraging 636 00:31:27,240 --> 00:31:31,320 Speaker 1: for Democrats. So let's put this next piece up on 637 00:31:31,360 --> 00:31:33,800 Speaker 1: the screen in terms of kind of putting the pieces 638 00:31:33,840 --> 00:31:36,680 Speaker 1: together of all of these recent special elections. This is 639 00:31:36,720 --> 00:31:42,640 Speaker 1: from Dave Wasserman. So in every single post Dobbs special election, 640 00:31:42,920 --> 00:31:46,560 Speaker 1: so not primary special elections, the Democrats have overperformed and 641 00:31:46,600 --> 00:31:50,600 Speaker 1: the Republicans have underperformed. The trend is also very similar 642 00:31:50,600 --> 00:31:54,440 Speaker 1: across these districts in terms of the more liberal parts 643 00:31:54,480 --> 00:31:57,480 Speaker 1: of the districts are just really showing up in droves, 644 00:31:57,720 --> 00:32:01,240 Speaker 1: sort of like white college educated voters, very animated, very 645 00:32:01,320 --> 00:32:04,040 Speaker 1: much showing up to vote in ways that oftentimes, and 646 00:32:04,080 --> 00:32:06,240 Speaker 1: this is also interesting, the polls are not predicting. So 647 00:32:06,280 --> 00:32:10,600 Speaker 1: again in this district, you had polls up to election 648 00:32:10,720 --> 00:32:12,800 Speaker 1: day that had the Republican up by as much as 649 00:32:12,840 --> 00:32:16,120 Speaker 1: eight points, and so you know, the fact that Democrats 650 00:32:16,160 --> 00:32:19,760 Speaker 1: are outperforming the polls is also unusual. Usually it's the 651 00:32:19,760 --> 00:32:22,920 Speaker 1: Republicans that do that. So Sagert is seen as like 652 00:32:22,960 --> 00:32:25,760 Speaker 1: a very interesting indicator of where things are. Yeah, you 653 00:32:25,800 --> 00:32:27,760 Speaker 1: sent this a piece this morning from the New York Times. 654 00:32:27,800 --> 00:32:29,240 Speaker 1: We don't have it made because it's literally just came 655 00:32:29,280 --> 00:32:31,600 Speaker 1: out this morning, but it's very interesting. So, on average, 656 00:32:31,640 --> 00:32:35,040 Speaker 1: Republicans carried the four completed districts by three point seven 657 00:32:35,040 --> 00:32:37,600 Speaker 1: percentage points compared with Trump's seven point seven edge in 658 00:32:37,640 --> 00:32:40,200 Speaker 1: the same districts. The results are not just worse, they're 659 00:32:40,200 --> 00:32:44,840 Speaker 1: actually straightforwardly poor. Republicans need to fare better than Donald Trump, 660 00:32:45,080 --> 00:32:47,920 Speaker 1: who lost the national vote by four point five points, 661 00:32:48,040 --> 00:32:50,920 Speaker 1: to retake the House. So they're underperforming by three. They 662 00:32:50,920 --> 00:32:55,000 Speaker 1: actually need to overperform significantly. They need to overperform to 663 00:32:55,080 --> 00:32:59,840 Speaker 1: retake the House, let alone contemplate winning the Senate. So look, 664 00:33:00,120 --> 00:33:02,440 Speaker 1: still a couple months to election day, we don't know. 665 00:33:02,880 --> 00:33:05,440 Speaker 1: I think we could say definitively at this time that 666 00:33:05,560 --> 00:33:09,880 Speaker 1: Democratic enthusiasm is much higher than it was in the past. Yeah, 667 00:33:09,920 --> 00:33:12,800 Speaker 1: and also I think that it does seem that there 668 00:33:12,960 --> 00:33:17,000 Speaker 1: is a very activated constituency which showed up big time 669 00:33:17,040 --> 00:33:19,600 Speaker 1: in twenty eighteen and in twenty twenty. Let's put this 670 00:33:19,680 --> 00:33:23,000 Speaker 1: up there on the screen, which is that Florida turnout 671 00:33:23,200 --> 00:33:26,560 Speaker 1: was actually higher last night in the Democratic primary. Then 672 00:33:26,600 --> 00:33:29,640 Speaker 1: in the blue wave of two thousand and eighteen, he 673 00:33:29,720 --> 00:33:33,760 Speaker 1: had one point five million votes in the twenty twenty 674 00:33:33,840 --> 00:33:37,360 Speaker 1: two primary compared to one point five one point five 675 00:33:37,400 --> 00:33:39,760 Speaker 1: two versus one point five to one. So the fact 676 00:33:39,800 --> 00:33:42,080 Speaker 1: that it even comes close to what we know was 677 00:33:42,120 --> 00:33:47,320 Speaker 1: a major DEM wave in twenty eighteen in terms of turnout, right, 678 00:33:48,040 --> 00:33:51,280 Speaker 1: that means that this is significant. We should also say, though, 679 00:33:51,280 --> 00:33:54,080 Speaker 1: what else happened in twenty eighteen, Well, Marshall Blackburn and 680 00:33:54,080 --> 00:33:56,640 Speaker 1: a bunch of Republicans also still did win their Senate seeds, 681 00:33:56,640 --> 00:33:59,200 Speaker 1: so it's not like it was a massive you know, 682 00:33:59,440 --> 00:34:02,760 Speaker 1: it's not the massive wave that people made it and 683 00:34:02,800 --> 00:34:05,280 Speaker 1: Republicans did still keep control of the Senate, so it's 684 00:34:05,280 --> 00:34:08,280 Speaker 1: still possible. One of the interesting things in blue states 685 00:34:08,280 --> 00:34:10,520 Speaker 1: was that it was like purple areas went more blue, 686 00:34:10,560 --> 00:34:13,400 Speaker 1: but red states became more red. So it's possible that 687 00:34:13,480 --> 00:34:16,400 Speaker 1: this could actually flip things a little bit more in 688 00:34:16,440 --> 00:34:18,560 Speaker 1: that way. I know that doesn't necessarily make sense, but 689 00:34:18,640 --> 00:34:21,399 Speaker 1: if you think about it, it kind of does. That's 690 00:34:21,440 --> 00:34:24,440 Speaker 1: actually that's what they're seeing in these districts is in 691 00:34:24,480 --> 00:34:29,320 Speaker 1: the rural areas, the Republicans are outperforming the Trump margins, 692 00:34:29,680 --> 00:34:33,359 Speaker 1: but turnout is lower right, and it's in those more 693 00:34:33,440 --> 00:34:36,440 Speaker 1: liberal parts of the district where people are showing up 694 00:34:36,440 --> 00:34:41,479 Speaker 1: in droves and handing these large margins to Democrats. So look, 695 00:34:41,600 --> 00:34:43,960 Speaker 1: I mean, and that is we'll get to this. That 696 00:34:44,040 --> 00:34:46,600 Speaker 1: is sort of what Republicans are banking on, is maybe 697 00:34:46,600 --> 00:34:49,960 Speaker 1: these special elections aren't representative of what the electorate will 698 00:34:50,000 --> 00:34:52,400 Speaker 1: look like in November. But I saw Josh Barrow and 699 00:34:52,440 --> 00:34:55,560 Speaker 1: his substack was making an interesting point that it's not 700 00:34:55,920 --> 00:34:59,040 Speaker 1: just that Democrats are super motivated by Dobbs and abortion. 701 00:34:59,480 --> 00:35:02,520 Speaker 1: It's all so that some of the new Republican coalition 702 00:35:02,760 --> 00:35:05,480 Speaker 1: is kind of turned off by the GOP extremism. This 703 00:35:05,640 --> 00:35:08,000 Speaker 1: isn't the issue that they signed up to be a 704 00:35:08,000 --> 00:35:10,799 Speaker 1: part of in the Republican Party. Donald Trump, even though 705 00:35:10,840 --> 00:35:12,360 Speaker 1: you know he's the person who put these people on 706 00:35:12,360 --> 00:35:15,319 Speaker 1: the court that effectuated this outcome, he really downplayed the 707 00:35:15,440 --> 00:35:19,640 Speaker 1: more sort of religiosity component in his campaign in twenty 708 00:35:19,680 --> 00:35:23,520 Speaker 1: sixteen and attracted people into the coalition who maybe previously 709 00:35:23,600 --> 00:35:27,280 Speaker 1: been turned off by this, you know, hardcore evangelical messaging. 710 00:35:27,560 --> 00:35:29,319 Speaker 1: And so now that that's back at the center of 711 00:35:29,320 --> 00:35:33,359 Speaker 1: the party, you have some Republicans who are like, eh, 712 00:35:33,440 --> 00:35:35,440 Speaker 1: I'm not feeling these people as much as I was, 713 00:35:35,600 --> 00:35:37,640 Speaker 1: maybe like six months ago. Some of us may have 714 00:35:37,680 --> 00:35:39,719 Speaker 1: said that and we're laughed out. For some of us 715 00:35:39,719 --> 00:35:42,320 Speaker 1: have been yes, you making a point for a minute now, 716 00:35:42,360 --> 00:35:45,359 Speaker 1: maybe four years whatever, it's okay, let's go ahead. Put 717 00:35:45,360 --> 00:35:48,160 Speaker 1: this up there on the screen, which only highlights this 718 00:35:48,239 --> 00:35:51,040 Speaker 1: point even more, which is that new Pew Research polling 719 00:35:51,080 --> 00:35:54,239 Speaker 1: actually shows the economy remains the top midterm issue, but 720 00:35:54,600 --> 00:35:58,239 Speaker 1: shows that abortion has ranked from forty three percent in 721 00:35:58,320 --> 00:36:02,360 Speaker 1: March to fifty six percent in August in terms of salience. 722 00:36:02,440 --> 00:36:07,240 Speaker 1: So top salience August seventy seven percent, economy, sixty two percent, guns, 723 00:36:07,280 --> 00:36:11,920 Speaker 1: sixty percent, violent crime, fifty six percent abortion, more so 724 00:36:12,120 --> 00:36:14,920 Speaker 1: even than energy policy. Personally, think that's kind of crazy, 725 00:36:15,080 --> 00:36:18,239 Speaker 1: but listen, voters are who they are, so to have 726 00:36:18,280 --> 00:36:21,439 Speaker 1: a thirteen percent jump and to have that also come 727 00:36:21,480 --> 00:36:25,600 Speaker 1: at the very same time of overperformance, that's obviously going 728 00:36:25,640 --> 00:36:27,640 Speaker 1: to have a major impact at the ballot box. And 729 00:36:27,680 --> 00:36:30,239 Speaker 1: this always comes to the more maddening parts of midterms. 730 00:36:30,280 --> 00:36:33,480 Speaker 1: Midterms Yes, are a you know, our referendum on the 731 00:36:33,560 --> 00:36:35,880 Speaker 1: national mood and all of that, but in general, it 732 00:36:35,960 --> 00:36:38,439 Speaker 1: really is like whose base is more going to turn out. 733 00:36:38,480 --> 00:36:40,200 Speaker 1: You know, a lot of people don't vote in the midterms, 734 00:36:40,239 --> 00:36:43,560 Speaker 1: That's true. What is the midterm performance maybe like on 735 00:36:43,600 --> 00:36:45,640 Speaker 1: a bad year fifty percent on a good year like 736 00:36:45,680 --> 00:36:48,560 Speaker 1: seventy five, but it never even comes kind present It 737 00:36:48,640 --> 00:36:51,000 Speaker 1: might not even be I think, more like in the 738 00:36:51,000 --> 00:36:53,080 Speaker 1: good right. Yeah, so that's what I'm saying. So a 739 00:36:53,080 --> 00:36:55,479 Speaker 1: lot of people just don't vote. Most of them are old. 740 00:36:56,000 --> 00:36:59,640 Speaker 1: So if you can get people who are younger, people 741 00:36:59,680 --> 00:37:04,320 Speaker 1: who are more like fencitting type liberals and freensitting Republicans 742 00:37:04,320 --> 00:37:07,040 Speaker 1: to not go, fancitting liberals to go, then you can 743 00:37:07,080 --> 00:37:10,120 Speaker 1: actually significantly change the results. Yeah. Really is all a 744 00:37:10,120 --> 00:37:12,239 Speaker 1: function of like care enough in order to go and 745 00:37:12,280 --> 00:37:14,920 Speaker 1: do something, And to circle back to our student loan conversation, 746 00:37:15,040 --> 00:37:16,719 Speaker 1: is part of why I think this will be good 747 00:37:16,800 --> 00:37:19,520 Speaker 1: for Democrats because one of the most demotivated parts of 748 00:37:19,560 --> 00:37:21,120 Speaker 1: the base, and also one of the parts of the 749 00:37:21,160 --> 00:37:23,720 Speaker 1: base that's the hardest to turn out is young people 750 00:37:23,800 --> 00:37:27,239 Speaker 1: who will disproportionately benefit from this and are overwhelmingly supportive 751 00:37:27,640 --> 00:37:29,759 Speaker 1: of the move. So that's part of why I feel 752 00:37:29,800 --> 00:37:31,719 Speaker 1: like in midterms, when it's a turnout game, when it's 753 00:37:31,760 --> 00:37:34,680 Speaker 1: just about like firing up your people. It probably will 754 00:37:34,680 --> 00:37:37,479 Speaker 1: be a benefit to them, but ultimately we'll see. Now 755 00:37:37,600 --> 00:37:40,520 Speaker 1: the flip side here and the cautionary note which I 756 00:37:40,560 --> 00:37:42,719 Speaker 1: mentioned before this from Dave wassermon, let's put this up 757 00:37:42,719 --> 00:37:45,279 Speaker 1: on the screen. Democrat successes in these specials have been 758 00:37:45,320 --> 00:37:49,920 Speaker 1: fueled by high engagement in college heavy enclaves like Lincoln, Nebraska, Rochester, Minnesota, 759 00:37:50,000 --> 00:37:53,000 Speaker 1: Ulster County, New York, and Ithaca, New York. Pocket's not 760 00:37:53,120 --> 00:37:57,600 Speaker 1: all that representative of the larger fall electorate. So that's 761 00:37:57,640 --> 00:37:59,920 Speaker 1: what Republicans are kind of hanging on to at this point, 762 00:38:00,120 --> 00:38:03,839 Speaker 1: that you know, these special elections, they're not really representative 763 00:38:03,920 --> 00:38:05,719 Speaker 1: you're going to have. And it is true in a 764 00:38:05,719 --> 00:38:08,000 Speaker 1: special election you're going to get even smaller turnout than 765 00:38:08,040 --> 00:38:10,520 Speaker 1: you ultimately will in the midterm elections. So we're going 766 00:38:10,560 --> 00:38:12,160 Speaker 1: to have more of our people show up and it's 767 00:38:12,200 --> 00:38:14,560 Speaker 1: going to be a different landscape. They're holding onto that, 768 00:38:14,640 --> 00:38:17,960 Speaker 1: and they're holding on to, you know, the macrometrics, the 769 00:38:18,000 --> 00:38:20,719 Speaker 1: fact that and these are you know, these are hard 770 00:38:20,800 --> 00:38:23,520 Speaker 1: trends to overcome the fact that you have an unpopular 771 00:38:23,560 --> 00:38:27,279 Speaker 1: president and it basically has never happened before that you 772 00:38:27,320 --> 00:38:29,680 Speaker 1: have a president in fact, I think it literally has 773 00:38:29,760 --> 00:38:31,799 Speaker 1: never happened before, that you have a president who's miired 774 00:38:31,800 --> 00:38:35,399 Speaker 1: at forty percent approval rating and their party pickings. It's 775 00:38:35,440 --> 00:38:38,359 Speaker 1: literally never happened before. So it's not like that's a 776 00:38:38,440 --> 00:38:41,919 Speaker 1: small thing to take a look at. Is it enough, 777 00:38:42,040 --> 00:38:44,080 Speaker 1: you know, the Dobbs decision and these other factors to 778 00:38:44,160 --> 00:38:48,000 Speaker 1: sort of overcome the long thrust of history? Hard to say. 779 00:38:48,600 --> 00:38:50,120 Speaker 1: And then of course you continue to look at the 780 00:38:50,160 --> 00:38:52,640 Speaker 1: economic numbers, the fact that you know, so many people 781 00:38:53,080 --> 00:38:55,480 Speaker 1: feel we're in our recession, so many people say inflation 782 00:38:55,600 --> 00:38:57,640 Speaker 1: is there number one issue, and they trust Republicans more 783 00:38:57,640 --> 00:38:59,719 Speaker 1: on the issue. The fact that you have seventy four 784 00:38:59,719 --> 00:39:01,239 Speaker 1: percent and the country is saying that we're on the 785 00:39:01,280 --> 00:39:04,279 Speaker 1: wrong track. Normally you would look at those metrics and 786 00:39:04,360 --> 00:39:07,480 Speaker 1: say it's a wrap, like there's nothing Democrats could do. 787 00:39:08,080 --> 00:39:11,480 Speaker 1: And yet it seems like in a poll after Pole, 788 00:39:11,719 --> 00:39:14,480 Speaker 1: the generic ballot now tied with Democrats actually have a 789 00:39:14,600 --> 00:39:16,480 Speaker 1: tiny bit of it and edge in terms of the 790 00:39:16,520 --> 00:39:20,040 Speaker 1: generic ballot, In terms of these special elections, in terms 791 00:39:20,040 --> 00:39:22,759 Speaker 1: of abortion shooting up as an issue, you have these 792 00:39:22,760 --> 00:39:25,839 Speaker 1: indicators that it is going to be a much more 793 00:39:25,880 --> 00:39:28,839 Speaker 1: closely fought battle than it looked like it was going 794 00:39:28,840 --> 00:39:32,440 Speaker 1: to be pre jobs. So while all this is happening 795 00:39:32,880 --> 00:39:36,880 Speaker 1: and the bottom is falling out from the Republicans' massive 796 00:39:37,000 --> 00:39:40,920 Speaker 1: red wave dreams, where is the man who is charged 797 00:39:41,000 --> 00:39:44,880 Speaker 1: with making sure Republicans secure a majority in the Senate? 798 00:39:44,960 --> 00:39:46,960 Speaker 1: Senator Rick Scott, go ahead and put this up on 799 00:39:47,000 --> 00:39:50,840 Speaker 1: the screen. He is not just this, says Rick Scott's 800 00:39:50,840 --> 00:39:53,160 Speaker 1: ill timed Italian vacation. As you're a pointing outsier. It's 801 00:39:53,200 --> 00:39:56,080 Speaker 1: not just that he's in Italy, right, He's literally on 802 00:39:56,160 --> 00:40:00,840 Speaker 1: a super yacht in Italy. Very clear that somebody on 803 00:40:00,880 --> 00:40:03,759 Speaker 1: his side leaked to this to Axios, right, who's like 804 00:40:03,840 --> 00:40:06,440 Speaker 1: pissed off about the fact that he is nowhere to 805 00:40:06,480 --> 00:40:10,120 Speaker 1: be found, is apparently not engaged in the fact that, 806 00:40:10,239 --> 00:40:12,200 Speaker 1: you know, things are kind of the wheels are coming off. 807 00:40:13,000 --> 00:40:16,120 Speaker 1: There's always been criticism of him that, you know, he's 808 00:40:16,120 --> 00:40:18,520 Speaker 1: more interested in his own vanity than being a team player. 809 00:40:19,000 --> 00:40:21,160 Speaker 1: And the really funny thing here, because this is the 810 00:40:21,160 --> 00:40:24,080 Speaker 1: guy he's the chair of the National Republican Senatorial Committee. 811 00:40:24,480 --> 00:40:26,799 Speaker 1: The other thing that's really funny here is that he 812 00:40:26,920 --> 00:40:29,880 Speaker 1: had sent out a tweet literally the week when he 813 00:40:30,000 --> 00:40:33,800 Speaker 1: is on the deck of this superyacht in Italy. He 814 00:40:33,920 --> 00:40:36,320 Speaker 1: sent out this tweet that said, another week of President 815 00:40:36,360 --> 00:40:39,960 Speaker 1: Biden vacationing in Delaware versus working at the White House. 816 00:40:40,000 --> 00:40:41,759 Speaker 1: If he loves to travel so much, I've got some 817 00:40:41,800 --> 00:40:43,879 Speaker 1: suggestions as to where he should go next. And he's 818 00:40:43,880 --> 00:40:46,040 Speaker 1: got like the border, the southern border listed a bunch 819 00:40:46,040 --> 00:40:50,920 Speaker 1: of times. So he's criticizing Biden for vacationing in Delaware 820 00:40:51,400 --> 00:40:53,920 Speaker 1: while he is on a superyacht in Italy. He is 821 00:40:54,000 --> 00:40:57,680 Speaker 1: literally has his staff tweeting about Biden while he is 822 00:40:57,719 --> 00:41:00,520 Speaker 1: on imagine being shameless enough to do that. Can't I 823 00:41:00,560 --> 00:41:04,319 Speaker 1: honestly can't. I mean, it's just amazing, Like, yeah, how 824 00:41:04,440 --> 00:41:07,359 Speaker 1: is this even possible? And look, as I just think 825 00:41:07,360 --> 00:41:09,120 Speaker 1: the fact, Look, a lot of people go to Italy, 826 00:41:09,200 --> 00:41:12,279 Speaker 1: a lot of middle class folks. I would not a 827 00:41:12,280 --> 00:41:14,280 Speaker 1: big euro guy been to Italy a couple of times. 828 00:41:14,280 --> 00:41:18,600 Speaker 1: As we discussed, it's fine, positano cool. I haven't seen 829 00:41:18,600 --> 00:41:22,319 Speaker 1: that before. More, what I'm saying is that he knows there, 830 00:41:22,880 --> 00:41:26,080 Speaker 1: gets on this super yacht, is not engaged in the 831 00:41:26,080 --> 00:41:29,680 Speaker 1: midterms and criticizing Biden for going to the Dude, It's like, 832 00:41:29,760 --> 00:41:32,680 Speaker 1: come on, man, this is completely ridiculous. Also, here's what 833 00:41:32,719 --> 00:41:35,920 Speaker 1: he says. Quote. This is his response. Senator Scott took 834 00:41:35,960 --> 00:41:38,680 Speaker 1: a couple of days to celebrate his fiftieth wedding anniversary 835 00:41:38,719 --> 00:41:40,600 Speaker 1: with his wife and family, a trip that was planned 836 00:41:40,760 --> 00:41:42,440 Speaker 1: more than a year ago. They always say that if 837 00:41:42,440 --> 00:41:44,080 Speaker 1: it listen, and this is what I always say to 838 00:41:44,120 --> 00:41:46,759 Speaker 1: these folks, Rick Scott worth one hundred million dollars, you 839 00:41:46,800 --> 00:41:49,840 Speaker 1: could retire. You can go and live your life on that. 840 00:41:51,680 --> 00:41:53,720 Speaker 1: None of us would care. I mean, you know, outside 841 00:41:53,760 --> 00:41:55,879 Speaker 1: of the fact that you know medicare fraud and all that, 842 00:41:55,920 --> 00:41:59,040 Speaker 1: But that's a separate conversation. Fine, you go live your 843 00:41:59,120 --> 00:42:02,560 Speaker 1: life as a rich guy. You chose to sign up 844 00:42:02,600 --> 00:42:06,320 Speaker 1: for the US Senate and you chose, furthermore to elevate 845 00:42:06,360 --> 00:42:09,080 Speaker 1: yourself to the top of Republican chances. Is it so 846 00:42:09,360 --> 00:42:12,239 Speaker 1: much to ask that you do your job? Is it 847 00:42:12,440 --> 00:42:15,239 Speaker 1: so hard? I can't even dream of the idea of 848 00:42:15,239 --> 00:42:17,680 Speaker 1: taking a vacation from the show. If we were about 849 00:42:17,680 --> 00:42:20,600 Speaker 1: to go into a major thing like this, it'd be 850 00:42:20,640 --> 00:42:24,000 Speaker 1: insane to consider it. So it's like, yeah, this is one, 851 00:42:24,320 --> 00:42:27,160 Speaker 1: you know, one thousandth as important as supposedly as what 852 00:42:27,440 --> 00:42:30,200 Speaker 1: these guys say. So, first of all, he's on the vacation. 853 00:42:30,360 --> 00:42:32,759 Speaker 1: What do we also talk about, Crystal, This guy is 854 00:42:32,800 --> 00:42:35,399 Speaker 1: being called on for an audit because they burned through 855 00:42:35,520 --> 00:42:39,200 Speaker 1: a couple hundred million dollars where over the last six 856 00:42:39,239 --> 00:42:44,080 Speaker 1: months drained their bank accounts, no discernible effort. Reason. It's 857 00:42:44,080 --> 00:42:46,160 Speaker 1: not like the polls are going on that well. And 858 00:42:46,200 --> 00:42:51,880 Speaker 1: now they need cash. Hardcourt leaked tape of the GOP 859 00:42:52,600 --> 00:42:55,640 Speaker 1: chairwoman Ronal McDaniel, and she just came out this morning 860 00:42:55,880 --> 00:42:58,160 Speaker 1: where it was fed to a political reporter where she 861 00:42:58,480 --> 00:43:01,319 Speaker 1: sent a tape to donors. She's like, Hey, we need cash, wow, 862 00:43:01,360 --> 00:43:04,600 Speaker 1: to contest the Senate. Like now immediately, Wow. Part of 863 00:43:04,640 --> 00:43:07,680 Speaker 1: the issue too, Trump is sucking up all this money 864 00:43:07,840 --> 00:43:10,160 Speaker 1: out of the Republican base. They're not giving to the NRSC, 865 00:43:10,440 --> 00:43:12,600 Speaker 1: they're giving to Trump in order to quote fight back 866 00:43:12,880 --> 00:43:15,399 Speaker 1: against the FBI. So and he doesn't give a damn 867 00:43:15,440 --> 00:43:17,759 Speaker 1: about the Midge election so far, so he could care 868 00:43:17,840 --> 00:43:19,839 Speaker 1: less about whether they win. And then you've got all 869 00:43:19,880 --> 00:43:22,839 Speaker 1: of these candidates who have never run before, who don't 870 00:43:22,880 --> 00:43:25,920 Speaker 1: know how to fundraise, who don't have that established political 871 00:43:26,120 --> 00:43:29,040 Speaker 1: like fundraising network. And let me tell you someone who's 872 00:43:29,080 --> 00:43:33,440 Speaker 1: done some political fundraising A while back, it sucks. And 873 00:43:33,480 --> 00:43:35,560 Speaker 1: if you've never done it before and you aren't the 874 00:43:35,640 --> 00:43:38,560 Speaker 1: kind of like weird freaks that inhabit this city who 875 00:43:38,760 --> 00:43:41,799 Speaker 1: apparently like dialing for dollars with rich people all day long, 876 00:43:41,920 --> 00:43:44,920 Speaker 1: like it is a frickin grind. And so I think 877 00:43:44,960 --> 00:43:47,000 Speaker 1: a lot of these folks thought that they could just 878 00:43:47,120 --> 00:43:50,360 Speaker 1: like show up, go to the you know, go to 879 00:43:50,400 --> 00:43:53,600 Speaker 1: the event, send down some tweets to a Fox News appearance. 880 00:43:54,040 --> 00:43:57,239 Speaker 1: They know that what campaign really is for these candidates 881 00:43:57,320 --> 00:43:59,880 Speaker 1: is sitting on a phone in an office begging for 882 00:44:00,000 --> 00:44:02,800 Speaker 1: doll day in and day out. And should our system 883 00:44:02,920 --> 00:44:05,880 Speaker 1: be that way? No, it's horrific that that is the 884 00:44:05,880 --> 00:44:07,680 Speaker 1: way that it is. It's terrible for the candidates, and 885 00:44:07,719 --> 00:44:11,680 Speaker 1: it's really terrible for the country. But yeah, especially since 886 00:44:11,719 --> 00:44:14,279 Speaker 1: a lot of these candidates are behind the eight ball 887 00:44:14,320 --> 00:44:16,960 Speaker 1: in terms of the polling they're behind, they need to 888 00:44:17,000 --> 00:44:21,080 Speaker 1: have a cash advantage going into post Labor Day when 889 00:44:21,120 --> 00:44:24,040 Speaker 1: things really ramp up, because they've got to sort of 890 00:44:24,080 --> 00:44:26,879 Speaker 1: flood the airwaves and make the case to overcome the 891 00:44:26,920 --> 00:44:29,839 Speaker 1: negative ratings that they have accrued over this period when 892 00:44:29,880 --> 00:44:32,719 Speaker 1: Democrats have sort of been aggressively out there prosecuting the 893 00:44:32,760 --> 00:44:37,000 Speaker 1: case against them. So early on, the NRSC had a 894 00:44:37,040 --> 00:44:39,840 Speaker 1: big cash advantage. It looked like they had this huge 895 00:44:39,840 --> 00:44:41,920 Speaker 1: war chest that Democrats were going to get a really 896 00:44:41,960 --> 00:44:44,319 Speaker 1: poor position. And now we're in a place where they 897 00:44:44,320 --> 00:44:48,920 Speaker 1: are pulling ads from the airwaves in critical battleground states, 898 00:44:49,360 --> 00:44:52,040 Speaker 1: and we're in a place where they're having to spend 899 00:44:52,080 --> 00:44:56,160 Speaker 1: money in states like Ohio where they never thought that 900 00:44:56,160 --> 00:44:57,719 Speaker 1: they were going to have to come in with a 901 00:44:57,800 --> 00:44:59,600 Speaker 1: rescue plan. And it's a lot of money too. I 902 00:44:59,640 --> 00:45:01,880 Speaker 1: think it's like twenty eight million dollars or something that 903 00:45:02,040 --> 00:45:04,520 Speaker 1: Mitch McConnell's having to put into Ohio in order to 904 00:45:04,560 --> 00:45:06,640 Speaker 1: try to make sure that JD. Vans ultimately wins there, 905 00:45:06,680 --> 00:45:09,640 Speaker 1: which I fully expect that he will. But I'm sure 906 00:45:09,680 --> 00:45:11,960 Speaker 1: they did not go into this year thinking that we're 907 00:45:12,000 --> 00:45:14,600 Speaker 1: going to have to spend tens of millions of dollars 908 00:45:14,600 --> 00:45:16,800 Speaker 1: to get Jadvans across the finish line. No. I certainly 909 00:45:16,880 --> 00:45:21,200 Speaker 1: did not think that at all. Okay, let's go ahead 910 00:45:21,200 --> 00:45:24,280 Speaker 1: and talk about Ukraine. Some major developments there, Ukraine celebrating 911 00:45:24,320 --> 00:45:27,040 Speaker 1: its independence day and the United States celebrating that with 912 00:45:27,280 --> 00:45:30,240 Speaker 1: let's put this up there on the screen, three point 913 00:45:30,360 --> 00:45:34,240 Speaker 1: six billion dollars in new military day present do Ukraine 914 00:45:34,239 --> 00:45:36,520 Speaker 1: to mark their independence day on the six month anniversary 915 00:45:36,560 --> 00:45:39,640 Speaker 1: of Russia's invasion. Just for context for those who are wondering, 916 00:45:39,719 --> 00:45:42,720 Speaker 1: as my own personal bugaboo, this is more than every 917 00:45:42,800 --> 00:45:45,960 Speaker 1: country in Europe in military aid that has sent them 918 00:45:46,040 --> 00:45:49,840 Speaker 1: in total, save for the UK which is sent four billions. 919 00:45:49,880 --> 00:45:54,200 Speaker 1: So we are, in this single distribution of our promised 920 00:45:54,239 --> 00:45:57,520 Speaker 1: forty billion, have sent more in this one package than 921 00:45:57,640 --> 00:46:03,080 Speaker 1: every single other other country on the European continent except 922 00:46:03,160 --> 00:46:06,839 Speaker 1: for the island of Great Britain. So okay, doesn't seem 923 00:46:06,880 --> 00:46:09,319 Speaker 1: fair to me. Seems kind of interesting. What have we 924 00:46:09,360 --> 00:46:11,600 Speaker 1: gotten for it? It's kind of interesting, you know. I 925 00:46:11,640 --> 00:46:14,560 Speaker 1: was looking this morning, Crystal Lucas Tomlinson over at Fox 926 00:46:14,640 --> 00:46:16,839 Speaker 1: News using the Institute for the Study of War, which 927 00:46:16,920 --> 00:46:20,000 Speaker 1: you know, full disclosure, is like a very hawkish organization, 928 00:46:20,400 --> 00:46:24,319 Speaker 1: and even they are showing in their maps the frontline 929 00:46:24,640 --> 00:46:27,520 Speaker 1: has not moved in the last two months of the war. 930 00:46:28,280 --> 00:46:30,680 Speaker 1: In fact, the front line in terms of plus and 931 00:46:30,719 --> 00:46:35,400 Speaker 1: minus for Ukrainian forces is some one hundred and seventy 932 00:46:35,440 --> 00:46:39,560 Speaker 1: four square miles, which is about the size of Rockland County, 933 00:46:39,680 --> 00:46:42,920 Speaker 1: New York. So we are in a full blown stalemate. 934 00:46:43,000 --> 00:46:46,680 Speaker 1: Over the last two months. Ukraine is promising this new 935 00:46:46,960 --> 00:46:51,040 Speaker 1: you know, counter offensive. Nothing is materialized as of yet. 936 00:46:51,239 --> 00:46:53,279 Speaker 1: And in fact, you know, it's always very interesting to 937 00:46:53,320 --> 00:46:54,839 Speaker 1: me to watch the New York Times and the way 938 00:46:54,840 --> 00:46:59,000 Speaker 1: that they message to their voters. As we said before previously, 939 00:46:59,040 --> 00:47:01,200 Speaker 1: you know, Ukraine is making those propaganda videos are like 940 00:47:01,200 --> 00:47:04,319 Speaker 1: we're striking Crimea and everyone's like, oh my god, they're 941 00:47:04,320 --> 00:47:06,839 Speaker 1: making course, They're like, hey, just so everybody knows, these 942 00:47:06,880 --> 00:47:09,760 Speaker 1: are very like symbolic strikes, like the majority of Russian 943 00:47:09,760 --> 00:47:12,360 Speaker 1: AMMO is not actually there. And this morning the exact 944 00:47:12,400 --> 00:47:16,399 Speaker 1: same thing they say, quote long war looms, officials say, 945 00:47:16,600 --> 00:47:22,600 Speaker 1: despite Ukraine's defiant message, and so that defiant message and honestly, unfortunately, 946 00:47:22,600 --> 00:47:25,160 Speaker 1: I think Zelenski is trying to manipulate our population with us. 947 00:47:25,200 --> 00:47:27,440 Speaker 1: Let's put this up there on the screen, which is 948 00:47:27,440 --> 00:47:31,440 Speaker 1: that Zelenski is saying, quote, Russia's war will end in Crimea, 949 00:47:31,440 --> 00:47:35,480 Speaker 1: and he actually declared victory over Russia on their independence 950 00:47:35,560 --> 00:47:39,759 Speaker 1: day in their message. Now listen again, I commend the 951 00:47:39,840 --> 00:47:43,560 Speaker 1: Ukrainian forces. They've done better than anybody on earth expected 952 00:47:43,560 --> 00:47:47,640 Speaker 1: them to do so. But thinking that a that this 953 00:47:47,800 --> 00:47:50,839 Speaker 1: is victory to have a static front line over two 954 00:47:50,840 --> 00:47:53,759 Speaker 1: months in which you're engaged in a major war with 955 00:47:54,120 --> 00:47:57,319 Speaker 1: a great power that's probably not going to be good 956 00:47:57,360 --> 00:48:00,160 Speaker 1: for you in the long run. And then second, you know, 957 00:48:00,239 --> 00:48:04,200 Speaker 1: our population thinking that there is some grand you know, 958 00:48:04,320 --> 00:48:08,120 Speaker 1: counter offensive coming in which Russia will be driven all 959 00:48:08,160 --> 00:48:10,600 Speaker 1: the way back to their territory and out of CRIMEA ye, 960 00:48:10,840 --> 00:48:12,719 Speaker 1: that's not going to happen. I mean, I don't I 961 00:48:12,719 --> 00:48:18,000 Speaker 1: don't possibly understand the brain of anybody familiar with military affairs, 962 00:48:18,040 --> 00:48:21,279 Speaker 1: including the US military and the US State Department, who 963 00:48:21,320 --> 00:48:23,960 Speaker 1: think that's going to work. So we're in a strange position. 964 00:48:24,200 --> 00:48:29,120 Speaker 1: The global economy is obviously suffered, geopolitics seems unable to 965 00:48:29,160 --> 00:48:34,479 Speaker 1: grapple with the ongoing frontline, you know, static, really grinding war, 966 00:48:34,520 --> 00:48:36,839 Speaker 1: which is not good for Ukraine. Every day that they fight, 967 00:48:36,880 --> 00:48:39,160 Speaker 1: they lose money, they lose you know, I mean, they're 968 00:48:39,200 --> 00:48:42,480 Speaker 1: thirty percent GDP contraction every day that they fight and 969 00:48:42,520 --> 00:48:45,680 Speaker 1: continues requires more aid on our part, And I continue 970 00:48:45,680 --> 00:48:47,680 Speaker 1: to ask, I'm like, what is this aid doing? From 971 00:48:47,719 --> 00:48:49,760 Speaker 1: what I can tell, it has not enabled any major 972 00:48:50,040 --> 00:48:52,879 Speaker 1: counter effens. Are we just going to keep funding them 973 00:48:52,920 --> 00:48:55,440 Speaker 1: to hold the line? Because okay, like when does it end? 974 00:48:55,480 --> 00:48:58,640 Speaker 1: You know which, So if they push back ten miles, 975 00:48:59,000 --> 00:49:01,000 Speaker 1: now what I mean if they ten miles is that 976 00:49:01,040 --> 00:49:03,200 Speaker 1: I mean, now we're getting the First World War territory, right, 977 00:49:03,400 --> 00:49:05,680 Speaker 1: But what's worth it and what's not? I went and 978 00:49:05,760 --> 00:49:10,399 Speaker 1: tried to dig into more details about this aid package, 979 00:49:10,480 --> 00:49:13,400 Speaker 1: you know, more details about if there was any political 980 00:49:13,440 --> 00:49:16,399 Speaker 1: debate about it, what that debate looked like. And it's 981 00:49:16,440 --> 00:49:18,920 Speaker 1: barely a side note in Oh no one's talking you 982 00:49:19,040 --> 00:49:20,880 Speaker 1: Literally the only show you hear about it. There were 983 00:49:20,920 --> 00:49:22,879 Speaker 1: a couple of little like you know, like an AP 984 00:49:23,200 --> 00:49:25,920 Speaker 1: bulletin about it. It was like two paragraphs long, and 985 00:49:25,960 --> 00:49:29,000 Speaker 1: that's almost literally what you can find about it. It 986 00:49:29,040 --> 00:49:31,560 Speaker 1: says it will include the greatest detail we have That 987 00:49:31,600 --> 00:49:34,560 Speaker 1: will include air defense systems, artillery systems and munitions, counter 988 00:49:34,680 --> 00:49:37,560 Speaker 1: unmanned aerial systems, and radars. According to the White House, 989 00:49:37,560 --> 00:49:40,120 Speaker 1: that's about the extent of what you're going to get 990 00:49:40,120 --> 00:49:42,160 Speaker 1: from this let alone. The issues we've talked about before 991 00:49:42,200 --> 00:49:47,480 Speaker 1: about tracking these weapons and systems, right exactly, Well, yes, exactly. 992 00:49:47,520 --> 00:49:49,920 Speaker 1: And so you know, this is what I've always objected 993 00:49:49,960 --> 00:49:52,560 Speaker 1: to is in the beginning phases of this war, there 994 00:49:52,600 --> 00:49:55,560 Speaker 1: was obviously like wall to wall media coverage, totally understand. 995 00:49:55,600 --> 00:49:58,280 Speaker 1: It's a massive media you know, it's a massive event 996 00:49:58,480 --> 00:50:01,719 Speaker 1: in global world affairs. We cover it extensively and try 997 00:50:01,719 --> 00:50:04,960 Speaker 1: to continue to cover it as much as we possibly can. Well, 998 00:50:05,000 --> 00:50:08,160 Speaker 1: that coverage has fallen off, and so now there's just 999 00:50:08,360 --> 00:50:11,919 Speaker 1: very little awareness of what we're even doing, and there's 1000 00:50:11,960 --> 00:50:15,719 Speaker 1: certainly no one out here asking what next, Like where 1001 00:50:15,760 --> 00:50:17,919 Speaker 1: does this lead? Okay, we give them these the three 1002 00:50:17,920 --> 00:50:22,040 Speaker 1: billion dollars in arms, it's package number fourteen fifteen sixteen. 1003 00:50:22,080 --> 00:50:24,520 Speaker 1: I don't even know at this point what is the 1004 00:50:24,560 --> 00:50:27,560 Speaker 1: goal with this? Where is this headed? What are we 1005 00:50:27,600 --> 00:50:31,280 Speaker 1: going to do next? What would constitute like success? Because 1006 00:50:31,760 --> 00:50:36,600 Speaker 1: the previous goalpost had been the last massive major package 1007 00:50:36,800 --> 00:50:38,719 Speaker 1: was like, all right, this is going to enable the 1008 00:50:38,800 --> 00:50:41,320 Speaker 1: Ukrainians to launch this counter offensive where we're going to 1009 00:50:41,400 --> 00:50:44,440 Speaker 1: really see the benefit of us providing them with all 1010 00:50:44,480 --> 00:50:46,680 Speaker 1: of these arms, including these sort of like mid mid 1011 00:50:46,800 --> 00:50:49,759 Speaker 1: range missiles. Let's go, let's see what they can do. 1012 00:50:50,200 --> 00:50:52,600 Speaker 1: This is kind of like sink or swim moment. And 1013 00:50:52,680 --> 00:50:56,680 Speaker 1: then it hasn't panned down, and yet we're like, let's 1014 00:50:56,680 --> 00:50:58,799 Speaker 1: just send you three billion dollars more, because why not 1015 00:50:59,000 --> 00:51:01,600 Speaker 1: I mean, I really like this is an era. I 1016 00:51:01,680 --> 00:51:04,680 Speaker 1: genuinely don't know what the White House's plan is here. 1017 00:51:04,760 --> 00:51:09,759 Speaker 1: I guess it's just to continue indefinitely providing billions of 1018 00:51:09,800 --> 00:51:13,479 Speaker 1: dollars in aid, you know, which both parties completely sign 1019 00:51:13,560 --> 00:51:16,040 Speaker 1: off on. And you know, don't raise any sort of 1020 00:51:16,080 --> 00:51:17,719 Speaker 1: a fuss about in spite of the fact that some 1021 00:51:17,760 --> 00:51:19,879 Speaker 1: of these people pretend to care about big spending et cetera, 1022 00:51:19,880 --> 00:51:21,799 Speaker 1: et cetera, when it comes to this, there's no no 1023 00:51:21,960 --> 00:51:26,279 Speaker 1: questions whatsoever. And Zelensky, in addition to saying, you know, 1024 00:51:26,320 --> 00:51:28,680 Speaker 1: it began with CRIMEA, will end with CRIMEA, which is 1025 00:51:28,800 --> 00:51:33,319 Speaker 1: very Maximal's position, frankly, highly unrealistic position, he also said 1026 00:51:33,360 --> 00:51:36,319 Speaker 1: we are prepared for the war of attrition. So in 1027 00:51:36,360 --> 00:51:38,960 Speaker 1: the same time that he's saying we're strong enough to 1028 00:51:39,000 --> 00:51:42,520 Speaker 1: achieve this massive maximalist victory, he's also saying don't expect 1029 00:51:42,520 --> 00:51:45,160 Speaker 1: it anytime soon. And then, as we covered before, and 1030 00:51:45,200 --> 00:51:47,000 Speaker 1: I think it's really important to keep our finger on 1031 00:51:47,040 --> 00:51:49,680 Speaker 1: the pulse of what's going on in Russia too. You know, 1032 00:51:49,840 --> 00:51:53,839 Speaker 1: after the assassination of the daughter of this you know, 1033 00:51:53,880 --> 00:51:58,040 Speaker 1: significant Russian intellectual the reporting is that, you know, the 1034 00:51:58,080 --> 00:52:01,000 Speaker 1: hardliners have been strengthened by this, And as much as 1035 00:52:01,120 --> 00:52:05,840 Speaker 1: Putin's actions have been extreme and inhumane and aggressive and 1036 00:52:05,880 --> 00:52:09,840 Speaker 1: all of that, there are people within Russian elite circles 1037 00:52:09,880 --> 00:52:13,080 Speaker 1: who want him to go much further, who want him 1038 00:52:13,120 --> 00:52:16,960 Speaker 1: to strike government buildings and defense ministry buildings in Kiev, 1039 00:52:17,120 --> 00:52:20,960 Speaker 1: for example, who want to use this assassination as sort 1040 00:52:20,960 --> 00:52:23,360 Speaker 1: of rally called to declare a broader warn, a broader 1041 00:52:23,400 --> 00:52:26,560 Speaker 1: mobilization of the Russian public. So he's starting to be 1042 00:52:26,640 --> 00:52:29,880 Speaker 1: put under that pressure at home as well, which you 1043 00:52:29,920 --> 00:52:33,560 Speaker 1: know matters and creates a further sort of instability and 1044 00:52:33,640 --> 00:52:35,880 Speaker 1: a further chaos element in terms of what's going to 1045 00:52:35,880 --> 00:52:37,799 Speaker 1: happen next. Yeah, and you know, I think that that 1046 00:52:38,120 --> 00:52:41,440 Speaker 1: is the key. Also what people are consider. There is 1047 00:52:41,600 --> 00:52:45,920 Speaker 1: rumor going around that Russia is looking to stage referendums 1048 00:52:45,960 --> 00:52:50,280 Speaker 1: like they did in Crimea, in you know, Eastern occupied Ukraine. 1049 00:52:50,400 --> 00:52:53,600 Speaker 1: In Look, I make a doubt what exactly the referendum 1050 00:52:53,680 --> 00:52:55,279 Speaker 1: is going to be, whether the people want it or not, 1051 00:52:55,360 --> 00:52:57,719 Speaker 1: although people do like to downplay Russian support in some 1052 00:52:57,800 --> 00:53:00,680 Speaker 1: of these in those results. Yeah, anyway, no idea what 1053 00:53:00,719 --> 00:53:03,240 Speaker 1: those people actually want. What I do and relatively certain 1054 00:53:03,239 --> 00:53:05,439 Speaker 1: of is that some referendum would say yeah, we want 1055 00:53:05,440 --> 00:53:07,200 Speaker 1: to be part of Russia, and that would give them 1056 00:53:07,200 --> 00:53:10,160 Speaker 1: pretext either to escalate the war, because that would mean 1057 00:53:10,239 --> 00:53:12,319 Speaker 1: what which would mean that then it's a war on 1058 00:53:12,440 --> 00:53:16,280 Speaker 1: sovereign Russian territory as they consider it, not Ukrainian territory, 1059 00:53:16,280 --> 00:53:20,760 Speaker 1: which could increase Russian support domestically, give putin a pretext 1060 00:53:20,760 --> 00:53:23,960 Speaker 1: for hardliners in order to increase the military campaign. That 1061 00:53:24,000 --> 00:53:26,040 Speaker 1: could be the next phrase. And again, you know you 1062 00:53:26,120 --> 00:53:30,120 Speaker 1: have Ukraine's own military saying our hardest days may yet 1063 00:53:30,320 --> 00:53:34,799 Speaker 1: lie ahead. And so again to what end? For what 1064 00:53:34,800 --> 00:53:36,799 Speaker 1: what are we willing to accept? What do we want 1065 00:53:36,800 --> 00:53:40,800 Speaker 1: to see? Are we ever gonna you know, have cheap gas? Ever? Again, 1066 00:53:41,120 --> 00:53:44,080 Speaker 1: are we ever going to restore some stability to the 1067 00:53:44,080 --> 00:53:47,040 Speaker 1: global natural gas markets? I mean, every day that this 1068 00:53:47,160 --> 00:53:50,680 Speaker 1: drags on, the continent of Europe is going is bleeding 1069 00:53:50,760 --> 00:53:53,480 Speaker 1: in terms of natural gas. I again check this morning, 1070 00:53:53,480 --> 00:53:56,040 Speaker 1: it's like an eighty percent increase in terms of natural 1071 00:53:56,040 --> 00:53:59,520 Speaker 1: gas futures. My friend Joe Wisenthal over on Bloomberg is 1072 00:53:59,520 --> 00:54:02,760 Speaker 1: calling this the return of European austerity, just in terms 1073 00:54:02,760 --> 00:54:06,279 Speaker 1: of the level of money that's being siphoned out of 1074 00:54:06,280 --> 00:54:09,359 Speaker 1: the economy, trade deficit in Germany. We have not seen 1075 00:54:09,400 --> 00:54:11,880 Speaker 1: the continent at this destabilized since like twenty twelve. And 1076 00:54:11,920 --> 00:54:14,280 Speaker 1: I don't know if people remember this. The Eurozone crisis 1077 00:54:14,320 --> 00:54:18,120 Speaker 1: was very real and had major blue bleedover effects into 1078 00:54:18,160 --> 00:54:21,040 Speaker 1: our economy. I mean there were all those protests. Remember 1079 00:54:21,080 --> 00:54:23,880 Speaker 1: in Greece and Spain you have a crazy unemployment. It 1080 00:54:23,880 --> 00:54:25,560 Speaker 1: took a long time to climb out of that hole, 1081 00:54:25,600 --> 00:54:28,680 Speaker 1: and we seem to be very much back in that situation. 1082 00:54:28,800 --> 00:54:31,719 Speaker 1: So just always put that on the table. Okay, let's 1083 00:54:31,719 --> 00:54:35,040 Speaker 1: talk about Liz Cheney. This one is hilarious. Let's go 1084 00:54:35,040 --> 00:54:36,799 Speaker 1: ahead and put this up there on the screen. Liz 1085 00:54:36,880 --> 00:54:40,600 Speaker 1: Cheney compared herself to Abraham Lincoln and to running for president. 1086 00:54:40,719 --> 00:54:44,160 Speaker 1: And what do we got here, Well, you got first 1087 00:54:44,200 --> 00:54:47,000 Speaker 1: time to actually test her just as an independent candidate. 1088 00:54:47,400 --> 00:54:50,799 Speaker 1: If Liz Cheney were to run for president, Donald Trump, 1089 00:54:50,840 --> 00:54:53,200 Speaker 1: accorded to this poll, would get forty percent of the vote, 1090 00:54:53,320 --> 00:54:55,640 Speaker 1: Joe Biden would get thirty two percent of the vote, 1091 00:54:55,719 --> 00:54:59,240 Speaker 1: and Liz Cheney would get eleven percent of the vote, 1092 00:54:59,600 --> 00:55:04,840 Speaker 1: showing actually that she takes a significant chunk away from 1093 00:55:04,960 --> 00:55:08,560 Speaker 1: Joe Biden in terms of the popular vote. Crystal. So 1094 00:55:09,000 --> 00:55:12,839 Speaker 1: it's actually Democrats at crossover Dems that would be the 1095 00:55:12,840 --> 00:55:16,240 Speaker 1: ones who are most likely to come over. Now, something 1096 00:55:16,280 --> 00:55:18,680 Speaker 1: tells me that if Cheney were to do something like this, 1097 00:55:18,960 --> 00:55:22,040 Speaker 1: that she would not face Crystal the same level of 1098 00:55:22,520 --> 00:55:27,040 Speaker 1: ire that a Jill Stein faced in twenty sixteen, or 1099 00:55:27,080 --> 00:55:30,399 Speaker 1: of like a Ralph Nader, because she's so heroic, and 1100 00:55:30,760 --> 00:55:33,600 Speaker 1: you know, people think maybe I don't know, I do 1101 00:55:33,760 --> 00:55:36,719 Speaker 1: see a lot of I do think people would freak 1102 00:55:36,800 --> 00:55:40,719 Speaker 1: out if she is a yeah, as she I do 1103 00:55:40,800 --> 00:55:43,359 Speaker 1: think there will be like a liberal resistance freakount as 1104 00:55:43,400 --> 00:55:47,960 Speaker 1: she ran because yeah, this poll, when it's just Biden 1105 00:55:48,080 --> 00:55:50,399 Speaker 1: versus Trump, Biden wins forty six to forty two Yes. 1106 00:55:50,560 --> 00:55:53,920 Speaker 1: And then when you introduce Liz Cheney. This is predictable 1107 00:55:53,960 --> 00:55:58,080 Speaker 1: because our politics is the dumbest thing ever. The only 1108 00:55:58,160 --> 00:56:00,680 Speaker 1: issue that apparently matters is where you stand all on 1109 00:56:00,800 --> 00:56:03,120 Speaker 1: the question of how you feel about Donald Trump. And 1110 00:56:03,200 --> 00:56:05,520 Speaker 1: so even though as we've said a million times and 1111 00:56:05,520 --> 00:56:07,680 Speaker 1: everybody else has as well, she voted with Trump ninety 1112 00:56:07,680 --> 00:56:10,879 Speaker 1: three percent of the time, she is on board with 1113 00:56:11,040 --> 00:56:14,560 Speaker 1: all of the conservative stuff, the fact that she criticized 1114 00:56:14,600 --> 00:56:17,839 Speaker 1: him over January sixth makes Democrats love her and makes 1115 00:56:17,880 --> 00:56:20,799 Speaker 1: Republicans hate her and nothing else matters whatsoever. And it 1116 00:56:20,840 --> 00:56:23,520 Speaker 1: is the dumbest possible state of affairs. Yeah, I could 1117 00:56:23,520 --> 00:56:25,000 Speaker 1: not agree with that more. Let's go to put the 1118 00:56:25,000 --> 00:56:26,880 Speaker 1: next one up there on the screen, which is that 1119 00:56:26,960 --> 00:56:29,280 Speaker 1: Liz Cheney now says there will be a new political 1120 00:56:29,320 --> 00:56:33,040 Speaker 1: group that targets Trump allies. Interesting, so it's not actually 1121 00:56:33,040 --> 00:56:34,759 Speaker 1: about Trump. This is why I always thought she was 1122 00:56:34,800 --> 00:56:37,000 Speaker 1: so full of it. She'd be like, well, no, Ron 1123 00:56:37,040 --> 00:56:39,439 Speaker 1: DeSantis is bad too, and I'm just like, okay, you're 1124 00:56:39,480 --> 00:56:42,440 Speaker 1: just a Democrat, Like it's fine. But you know, if 1125 00:56:42,480 --> 00:56:44,480 Speaker 1: you really did care about getting rid of Trump, you 1126 00:56:44,520 --> 00:56:47,480 Speaker 1: would want to elect somebody who has crossover appeal with 1127 00:56:47,480 --> 00:56:50,800 Speaker 1: people who are Maga and people who are possible Cheney supporters. 1128 00:56:50,960 --> 00:56:54,120 Speaker 1: That's basically the whole case for like a Dysantis twenty 1129 00:56:54,160 --> 00:56:56,600 Speaker 1: twenty four. And she says that that is not in 1130 00:56:56,600 --> 00:56:59,640 Speaker 1: the cards. So she's now launching this political group, of 1131 00:56:59,680 --> 00:57:02,680 Speaker 1: which where certain is going to be what raised dramatic 1132 00:57:02,760 --> 00:57:06,760 Speaker 1: money from democratic organizations, the reed Hoffmann's types of the world, 1133 00:57:06,960 --> 00:57:09,839 Speaker 1: who have all already discussed backing her in some sort 1134 00:57:09,880 --> 00:57:13,200 Speaker 1: of presidential campaign. And it does I think just demonstrate 1135 00:57:13,600 --> 00:57:18,400 Speaker 1: where her core constituency is now. Sadly, though sadly, this 1136 00:57:18,640 --> 00:57:22,680 Speaker 1: is working in terms of elite opinion. Elite opinion has 1137 00:57:22,720 --> 00:57:26,480 Speaker 1: somehow convinced that Liz Cheney is a real political force 1138 00:57:26,720 --> 00:57:31,760 Speaker 1: in the Republican Party. Look no further than MSNBC on Sunday. 1139 00:57:31,960 --> 00:57:34,439 Speaker 1: Let's take a listen. Liz Cheney is coming for all 1140 00:57:34,480 --> 00:57:36,640 Speaker 1: of them. In the rest of that interview, she went 1141 00:57:36,680 --> 00:57:40,280 Speaker 1: after Ted Cruz and Josh Hawley and other these other 1142 00:57:40,320 --> 00:57:43,439 Speaker 1: guys who know better than this Maga act that they're 1143 00:57:43,440 --> 00:57:48,000 Speaker 1: putting on just to appeal to the rabid MAGA base. 1144 00:57:48,080 --> 00:57:50,160 Speaker 1: He's like, you all know better, what are you doing? 1145 00:57:50,560 --> 00:57:53,400 Speaker 1: And she has the credibility to do it. She is 1146 00:57:53,440 --> 00:57:56,720 Speaker 1: a Cheney. You cannot question her conservative bona fides. For 1147 00:57:56,760 --> 00:57:59,200 Speaker 1: goodness sake, she voted with Trump for ninety three percent 1148 00:57:59,200 --> 00:58:01,880 Speaker 1: of the time in Congress. She's a Cheney. So like, 1149 00:58:02,480 --> 00:58:05,040 Speaker 1: they can't come for her the same way they try 1150 00:58:05,080 --> 00:58:07,280 Speaker 1: to go after others, because the day that someone calls 1151 00:58:07,320 --> 00:58:09,920 Speaker 1: Liz Cheney Orrhino, you just have to laugh in their 1152 00:58:09,960 --> 00:58:13,520 Speaker 1: face because that's the weakest argument possible. So Liz Cheney unleashed. 1153 00:58:13,560 --> 00:58:16,400 Speaker 1: I'm here for it. And the Republicans. She's going to 1154 00:58:16,480 --> 00:58:19,120 Speaker 1: be a thorn in their side for the immediate future 1155 00:58:19,120 --> 00:58:22,480 Speaker 1: in these midterms and going into the presidential election. And 1156 00:58:22,880 --> 00:58:25,479 Speaker 1: I don't think they're ready for her. Oh my god, 1157 00:58:26,280 --> 00:58:30,160 Speaker 1: a left Apparently he's probably filling in there. What is 1158 00:58:30,600 --> 00:58:34,240 Speaker 1: How can you possibly the level of delusion that this requires? 1159 00:58:34,240 --> 00:58:36,560 Speaker 1: But hey, she works for the Lincoln Project. They built 1160 00:58:36,640 --> 00:58:39,160 Speaker 1: Democrats out of hundreds of millions of dollars in twenty 1161 00:58:39,200 --> 00:58:43,040 Speaker 1: twenty and as we have proven decisively on rising and 1162 00:58:43,120 --> 00:58:46,439 Speaker 1: here as well, their ads had a negative effect. Yeah, 1163 00:58:46,640 --> 00:58:50,040 Speaker 1: in terms of actually working against Republicans. So I don't 1164 00:58:50,080 --> 00:58:52,360 Speaker 1: think you should be taking any advice. Listen, these folks. 1165 00:58:52,400 --> 00:58:56,160 Speaker 1: I am all for spending money to take out election 1166 00:58:56,280 --> 00:59:00,560 Speaker 1: deniers who I as we've been covering some these people 1167 00:59:00,560 --> 00:59:03,120 Speaker 1: in some of these states are like a true threat 1168 00:59:03,240 --> 00:59:06,800 Speaker 1: and very disturbing in terms democracy. Doug Monstraano in Pennsylvania, 1169 00:59:06,880 --> 00:59:09,440 Speaker 1: people and aras all this stuff. Okay, I am all 1170 00:59:09,480 --> 00:59:11,560 Speaker 1: for it. I would love to see a project that 1171 00:59:11,680 --> 00:59:14,880 Speaker 1: was actually effective at doing that. I just don't have 1172 00:59:14,920 --> 00:59:17,280 Speaker 1: a lot of confidence that Liz Cheney and her group 1173 00:59:17,360 --> 00:59:18,800 Speaker 1: is going to be able to pull it off. Of course, 1174 00:59:19,120 --> 00:59:21,800 Speaker 1: and it comes back to and so that's why you 1175 00:59:21,840 --> 00:59:24,640 Speaker 1: know this analyst, I mean, she just sounds kind of 1176 00:59:24,720 --> 00:59:27,560 Speaker 1: silly because ultimately, as much as you would love to 1177 00:59:27,600 --> 00:59:31,200 Speaker 1: imagine that some sort of like conservative track record might 1178 00:59:31,320 --> 00:59:33,640 Speaker 1: mean something and where you stand on policy might mean 1179 00:59:33,680 --> 00:59:38,800 Speaker 1: something in politics, it's just not reality. We were talking 1180 00:59:38,800 --> 00:59:40,760 Speaker 1: about this with regards to labels, and you were like, 1181 00:59:40,800 --> 00:59:43,320 Speaker 1: America first, now just meet. It does not mean anything 1182 00:59:43,440 --> 00:59:46,040 Speaker 1: other than just how you feel about Donald Trump. And 1183 00:59:46,120 --> 00:59:48,400 Speaker 1: so the minute that you're on the wrong side of 1184 00:59:48,440 --> 00:59:50,240 Speaker 1: the issue of how do you feel about him and 1185 00:59:50,240 --> 00:59:52,800 Speaker 1: all of his conspiracy theories in January sixth, and you know, 1186 00:59:52,880 --> 00:59:55,120 Speaker 1: all of his the FBI raid now is the new 1187 00:59:55,120 --> 00:59:56,760 Speaker 1: one to add to the list. If you're on the 1188 00:59:56,800 --> 00:59:59,000 Speaker 1: wrong side of any one of those issues, it doesn't 1189 00:59:59,040 --> 01:00:01,240 Speaker 1: matter what you say on anything else. You're a rhino. 1190 01:00:01,320 --> 01:00:04,320 Speaker 1: You're dead to them done. So, you know, I just 1191 01:00:04,360 --> 01:00:08,640 Speaker 1: think it's sort of again. I'm fine with targeting election deniers. 1192 01:00:08,680 --> 01:00:09,840 Speaker 1: I would love to see it. I would love to 1193 01:00:09,840 --> 01:00:12,479 Speaker 1: see it be successful, and my confident that Liz Cheney 1194 01:00:12,520 --> 01:00:16,600 Speaker 1: and her crew will have an effective result in that regard. No, 1195 01:00:16,720 --> 01:00:18,800 Speaker 1: I am not Yeah, I completely agree with that. Okay, 1196 01:00:18,920 --> 01:00:21,160 Speaker 1: let's move on. So I found this clip from a 1197 01:00:21,320 --> 01:00:24,440 Speaker 1: YouTube show that hadn't heard about before, where basically like 1198 01:00:25,040 --> 01:00:28,200 Speaker 1: interview celebrities. In this particular one, there was hot. They 1199 01:00:28,200 --> 01:00:31,240 Speaker 1: were eating hot wings with feast and yeah, it's like 1200 01:00:31,360 --> 01:00:34,880 Speaker 1: feast first and feast okay, And so it's brilliant. They 1201 01:00:34,920 --> 01:00:37,680 Speaker 1: have eleven million subscribers, so they're doing something right over there. 1202 01:00:37,760 --> 01:00:40,960 Speaker 1: Kind of cool actually, But what's interesting is this clip. 1203 01:00:40,960 --> 01:00:43,560 Speaker 1: It actually went viral on Twitter, but I really think 1204 01:00:43,600 --> 01:00:45,600 Speaker 1: it is amazing. And I've been thinking a lot about 1205 01:00:45,600 --> 01:00:48,600 Speaker 1: the movie business lately, and Matt Damon gave a very 1206 01:00:48,720 --> 01:00:53,120 Speaker 1: like cogent and really fascinating view as to why pop 1207 01:00:53,160 --> 01:00:57,360 Speaker 1: culture just seems so stagnant and not able to create 1208 01:00:57,600 --> 01:01:00,480 Speaker 1: movies which we used to think of as like art 1209 01:01:00,680 --> 01:01:04,480 Speaker 1: as you know, not major blockbuster but the types that 1210 01:01:04,680 --> 01:01:07,479 Speaker 1: could either become cult hits or you know, just really 1211 01:01:07,480 --> 01:01:10,240 Speaker 1: take chances. So here's what he had to say. So, 1212 01:01:10,280 --> 01:01:12,360 Speaker 1: I think a scenario lots of viewers can relate to 1213 01:01:12,480 --> 01:01:14,840 Speaker 1: is sitting on the couch on a Friday night, going 1214 01:01:14,920 --> 01:01:18,040 Speaker 1: through the streaming services, cycling through the movies and thinking 1215 01:01:18,080 --> 01:01:21,360 Speaker 1: to themselves, they're not making movies for me anymore. As 1216 01:01:21,400 --> 01:01:24,640 Speaker 1: somebody who's been intimately involved in movie making for thirty years. 1217 01:01:24,920 --> 01:01:29,280 Speaker 1: What are the macro Hollywood conditions behind that sentiment? Well, 1218 01:01:29,440 --> 01:01:33,200 Speaker 1: so what happened was the DVD was a huge part 1219 01:01:33,240 --> 01:01:37,160 Speaker 1: of our business, of our revenue stream, and technology has 1220 01:01:37,200 --> 01:01:42,560 Speaker 1: just made that obsolete. And so the movies that we 1221 01:01:42,720 --> 01:01:45,760 Speaker 1: used to make, you could afford to not make all 1222 01:01:45,800 --> 01:01:48,520 Speaker 1: of your money when it played in the theater because 1223 01:01:48,520 --> 01:01:50,920 Speaker 1: you knew you had the DVD coming behind the release, 1224 01:01:51,040 --> 01:01:53,800 Speaker 1: and six months later you'd get all, you know, a 1225 01:01:53,840 --> 01:01:56,080 Speaker 1: whole nother chunk. It would be like reopening the movie 1226 01:01:56,080 --> 01:02:00,720 Speaker 1: almost And when that went away, that changed the type 1227 01:02:00,720 --> 01:02:04,320 Speaker 1: of movies that we could make. I did this movie 1228 01:02:04,320 --> 01:02:07,280 Speaker 1: Behind the Candelabra. When I talked to a studio executive 1229 01:02:07,280 --> 01:02:10,040 Speaker 1: who explained it was a twenty five million dollar movie. 1230 01:02:10,720 --> 01:02:12,240 Speaker 1: I would have to put that much into print and 1231 01:02:12,240 --> 01:02:16,000 Speaker 1: advertising right to market it. Who we call p and A, 1232 01:02:16,160 --> 01:02:17,640 Speaker 1: So I'd have to put that in p Anda. So 1233 01:02:17,680 --> 01:02:20,160 Speaker 1: now I'm in fifty million dollars. I have to split 1234 01:02:20,200 --> 01:02:22,280 Speaker 1: everything I get with the exhibitor right the people who 1235 01:02:22,320 --> 01:02:25,240 Speaker 1: own the movie theaters. So I would have to make 1236 01:02:25,280 --> 01:02:30,120 Speaker 1: one hundred million dollars before I got into profit. And 1237 01:02:31,160 --> 01:02:33,280 Speaker 1: the idea of making one hundred million dollars on a 1238 01:02:33,320 --> 01:02:37,120 Speaker 1: story about like a love affair between these two people. Yeah, 1239 01:02:37,160 --> 01:02:40,440 Speaker 1: I love everyone in the movie. But that's that's suddenly 1240 01:02:40,480 --> 01:02:42,880 Speaker 1: a massive gam in a way that it wasn't in 1241 01:02:42,920 --> 01:02:44,800 Speaker 1: the nineteen nineties when they were making all those kind 1242 01:02:44,840 --> 01:02:46,240 Speaker 1: of movies, the kind of movies that I loved and 1243 01:02:46,960 --> 01:02:48,919 Speaker 1: the kind of movies that were my bread and butter. 1244 01:02:49,800 --> 01:02:52,760 Speaker 1: Perfect explanation. I thought it was really interesting, and you know, 1245 01:02:52,800 --> 01:02:54,960 Speaker 1: it made me really sad because Damon just made one 1246 01:02:54,960 --> 01:02:56,720 Speaker 1: of my favorite movies and made in a long time, 1247 01:02:56,760 --> 01:03:01,040 Speaker 1: which is the last duol and flopped flopped massively. It was. Yeah, 1248 01:03:01,080 --> 01:03:03,880 Speaker 1: it was a great movie. He was directed by Ridley Scott. 1249 01:03:03,960 --> 01:03:06,600 Speaker 1: I think it was. Oh my god, it's it's so cool. 1250 01:03:06,600 --> 01:03:09,160 Speaker 1: So basically it's a movie about the last you know, 1251 01:03:09,280 --> 01:03:12,320 Speaker 1: major duel fought in France that was like sanctioned and 1252 01:03:12,640 --> 01:03:14,760 Speaker 1: it's told so I don't want to ruin it. But basically, 1253 01:03:15,160 --> 01:03:17,680 Speaker 1: Matt Damon has a wife. His wife is raped by 1254 01:03:17,760 --> 01:03:20,400 Speaker 1: another character who's in the movie, and she maintains like 1255 01:03:20,440 --> 01:03:22,120 Speaker 1: she was, like I was raped, and he's like, no, 1256 01:03:22,200 --> 01:03:25,120 Speaker 1: she's lying. It was consensual anyway, what leads to is 1257 01:03:25,120 --> 01:03:27,920 Speaker 1: a combat duel between the two men. But the movie 1258 01:03:28,000 --> 01:03:30,840 Speaker 1: is told from the perspectives of all three and it's 1259 01:03:30,880 --> 01:03:34,560 Speaker 1: set in medieval France, so it's really long. It's a 1260 01:03:34,800 --> 01:03:40,120 Speaker 1: genuine like character drama. It's amazing performances. But the problem 1261 01:03:40,240 --> 01:03:42,600 Speaker 1: was is that they spent like one hundred something million 1262 01:03:42,640 --> 01:03:44,960 Speaker 1: dollars on this movie and it didn't make any of 1263 01:03:45,000 --> 01:03:47,160 Speaker 1: its money back. It made like thirty or forty million. 1264 01:03:47,200 --> 01:03:49,480 Speaker 1: And I listened to a couple interviews with Damon and 1265 01:03:49,520 --> 01:03:51,560 Speaker 1: with Ridley Scott, and they're like, yeah, you know, we tried, 1266 01:03:51,640 --> 01:03:53,560 Speaker 1: we tried to make this great movie, but at the 1267 01:03:53,640 --> 01:03:55,320 Speaker 1: end of the day, it's probably just not gonna happen. 1268 01:03:55,360 --> 01:03:58,720 Speaker 1: And from this point forward that type of a major 1269 01:03:58,760 --> 01:04:01,320 Speaker 1: gamble of it had all the ingredients. It had at 1270 01:04:01,320 --> 01:04:04,760 Speaker 1: Matt Damon, it had uh, the guy from Star Wars, 1271 01:04:04,760 --> 01:04:07,720 Speaker 1: I'm forgetting his name anyway, Uh from Girls, Star Wars, 1272 01:04:07,760 --> 01:04:10,040 Speaker 1: et cetera. Adam Driver. That's his name. It had Adam Driver. 1273 01:04:10,320 --> 01:04:13,320 Speaker 1: Ridley Scott, one of the greatest directors in all of Hollywood, 1274 01:04:13,400 --> 01:04:15,960 Speaker 1: had a massive budget, like one hundred million dollar marketing 1275 01:04:16,280 --> 01:04:18,600 Speaker 1: flopped right on his face. Is a character drama and 1276 01:04:18,680 --> 01:04:19,800 Speaker 1: at the end of the day, you know, you have 1277 01:04:19,800 --> 01:04:24,200 Speaker 1: this amazing, fascinating time piece movie. It'll probably just and 1278 01:04:24,240 --> 01:04:26,600 Speaker 1: Ben Affleck also co wrote it and started the movie. 1279 01:04:26,720 --> 01:04:29,760 Speaker 1: It will never be made again a movie like that. Instead, 1280 01:04:29,760 --> 01:04:32,360 Speaker 1: they'll make Fast and Furious twenty four. Yeah, Fast Furious 1281 01:04:32,400 --> 01:04:34,720 Speaker 1: twenty four. They just go back to the well of 1282 01:04:34,760 --> 01:04:37,480 Speaker 1: what they wore. Five is the next time we'll probably 1283 01:04:37,480 --> 01:04:41,120 Speaker 1: see it, right, Yeah, I do. I love those movies too. 1284 01:04:41,520 --> 01:04:44,240 Speaker 1: I love it, But I like seeing Matt Damon as 1285 01:04:44,240 --> 01:04:47,880 Speaker 1: a medieval French warrior. Is Jacques you know, Jacques Lagree. 1286 01:04:47,960 --> 01:04:52,200 Speaker 1: You know. Yeah, it's much easier and safer to go with, 1287 01:04:52,360 --> 01:04:55,160 Speaker 1: like this sort of cut and paste recipe of what 1288 01:04:55,240 --> 01:04:59,400 Speaker 1: you know works and what also is sort of like 1289 01:04:59,600 --> 01:05:02,040 Speaker 1: Genni enough that you can sell it to a global audience. 1290 01:05:02,480 --> 01:05:05,360 Speaker 1: You've covered here a lot of times the influence that 1291 01:05:05,400 --> 01:05:08,720 Speaker 1: the Chinese market has on Hollywood now, and so you 1292 01:05:08,800 --> 01:05:12,360 Speaker 1: have this business model that just doesn't make sense anymore 1293 01:05:12,440 --> 01:05:16,200 Speaker 1: for taking those risks on anything, any movie with any 1294 01:05:16,240 --> 01:05:18,920 Speaker 1: sort of a sizable budget. I wonder, though, what do 1295 01:05:18,960 --> 01:05:21,560 Speaker 1: you think about There was a lot of excitement around 1296 01:05:21,600 --> 01:05:24,400 Speaker 1: the sort of innovation within the streaming series. You know, 1297 01:05:24,480 --> 01:05:26,800 Speaker 1: Game of Thrones and these sort of like big budget 1298 01:05:27,200 --> 01:05:30,280 Speaker 1: direct to streaming ventures. What do you think of that 1299 01:05:30,320 --> 01:05:32,360 Speaker 1: piece of thing that's complicated? I mean, if you think 1300 01:05:32,360 --> 01:05:35,800 Speaker 1: about it, Scorsese's direct to Netflix film was a massive 1301 01:05:35,840 --> 01:05:38,240 Speaker 1: flop exactly. I don't even remember what it was called, 1302 01:05:38,280 --> 01:05:40,760 Speaker 1: which basically tells everything. It had Robert de Niro and 1303 01:05:40,800 --> 01:05:42,600 Speaker 1: had Joe PESHI was like three hours, and it was 1304 01:05:42,600 --> 01:05:46,080 Speaker 1: like Scorsese Unplugged didn't work that well. To be honest, 1305 01:05:46,120 --> 01:05:51,720 Speaker 1: the major Netflix straight releases have basically been like at budget, 1306 01:05:51,720 --> 01:05:54,880 Speaker 1: big budget action movies, which are fine. You had that 1307 01:05:54,920 --> 01:05:56,880 Speaker 1: movie with the Rock, you had the relatest one right 1308 01:05:56,920 --> 01:05:59,919 Speaker 1: now with Ryan Gosling. They did well, certainly, but they're 1309 01:05:59,920 --> 01:06:03,240 Speaker 1: not like great movies. I've seen some good movies on 1310 01:06:03,280 --> 01:06:05,959 Speaker 1: Netflix and elsewhere, but it does seem that they're much 1311 01:06:06,000 --> 01:06:09,680 Speaker 1: more invested in taking a murder which you could tell 1312 01:06:09,720 --> 01:06:12,400 Speaker 1: the story of in two hours, and then stretching it 1313 01:06:12,480 --> 01:06:16,200 Speaker 1: over twelve in order to make sure part one part two, Like, 1314 01:06:16,280 --> 01:06:18,680 Speaker 1: do I really need seven parts on this one serial? Yeah? 1315 01:06:18,680 --> 01:06:21,520 Speaker 1: Maybe just one? It's okay. I mean I also think 1316 01:06:21,520 --> 01:06:24,280 Speaker 1: what's the one I liked? White Lotus? Yeah, well, White 1317 01:06:24,320 --> 01:06:27,080 Speaker 1: Load Zone HBO. That was an amazing movie, amazing series, 1318 01:06:27,120 --> 01:06:29,280 Speaker 1: but again you know that was a mini series. That's 1319 01:06:29,320 --> 01:06:31,960 Speaker 1: also HBO, which has always been in boutique kind of 1320 01:06:32,000 --> 01:06:34,560 Speaker 1: high brow content in terms, they have kind of a 1321 01:06:34,600 --> 01:06:37,360 Speaker 1: business model though that works, yes, through but they've had 1322 01:06:37,400 --> 01:06:40,440 Speaker 1: this the nineteen nineties, and is that basically because it's subscription. 1323 01:06:40,600 --> 01:06:42,600 Speaker 1: Because it was subscription, it wasn't cable. It never went 1324 01:06:42,640 --> 01:06:45,000 Speaker 1: mass market. So they had Sopranos, which was their first 1325 01:06:45,120 --> 01:06:47,919 Speaker 1: big hit, and they kind of invented TV drama kind 1326 01:06:47,920 --> 01:06:50,280 Speaker 1: of as it exists today. Then they had The Wire. 1327 01:06:50,480 --> 01:06:53,600 Speaker 1: They have a formula there with works almost everything they made, 1328 01:06:53,640 --> 01:06:56,080 Speaker 1: because that's the part of the ecosystem that to me 1329 01:06:56,200 --> 01:06:59,120 Speaker 1: seems much better than when I was growing up, and 1330 01:06:59,280 --> 01:07:01,400 Speaker 1: you know, watching as much as I love like Full 1331 01:07:01,400 --> 01:07:04,400 Speaker 1: House and Save of the Bell like and I do, 1332 01:07:05,920 --> 01:07:08,680 Speaker 1: and I do, but yeah, they you know these like 1333 01:07:09,000 --> 01:07:14,640 Speaker 1: very rich, like cinema level, highly highly written with you know, 1334 01:07:14,680 --> 01:07:18,160 Speaker 1: incredible stars like all of that sort of stuff. That 1335 01:07:18,320 --> 01:07:21,280 Speaker 1: is the new that is very different, nothing with a 1336 01:07:21,320 --> 01:07:23,680 Speaker 1: lot better than when I was growing up. But I 1337 01:07:23,720 --> 01:07:29,160 Speaker 1: also think there's more going on here than just a 1338 01:07:29,200 --> 01:07:34,800 Speaker 1: business model shift, because you see it across different facets 1339 01:07:34,840 --> 01:07:38,040 Speaker 1: of our culture. Like you see it in music as well, 1340 01:07:38,240 --> 01:07:40,880 Speaker 1: you see it in business as well. How many times 1341 01:07:40,960 --> 01:07:43,200 Speaker 1: we talked about, like, you know, all these social media 1342 01:07:43,240 --> 01:07:46,040 Speaker 1: companies that are supposedly like the bleeding edge of innovation whatever, 1343 01:07:46,080 --> 01:07:49,360 Speaker 1: they're all just like copying TikTok, you know, the level 1344 01:07:49,400 --> 01:07:52,600 Speaker 1: of actual innovation. Because I mean, again, that does come 1345 01:07:52,640 --> 01:07:55,840 Speaker 1: back to a business issue, because companies, tech companies or 1346 01:07:55,840 --> 01:07:59,000 Speaker 1: any other company, they're not really rewarded for innovation and 1347 01:07:59,000 --> 01:08:03,720 Speaker 1: taking risks. They're rewarded for giving dividends and doing stock buybacks, 1348 01:08:04,160 --> 01:08:06,320 Speaker 1: and so that's what they're incentivized to do, and they 1349 01:08:06,440 --> 01:08:09,040 Speaker 1: use that rather than like creating new products or investing 1350 01:08:09,040 --> 01:08:12,000 Speaker 1: in their workforce or investing in their equipment and certainly 1351 01:08:12,080 --> 01:08:14,520 Speaker 1: investing in innovations diad. They just sort of like keep 1352 01:08:14,560 --> 01:08:17,040 Speaker 1: eating the seed corn to your point, just came out 1353 01:08:17,080 --> 01:08:21,479 Speaker 1: news yesterday Blackstone is looking to purchase Pink Floyd's entire 1354 01:08:21,520 --> 01:08:26,720 Speaker 1: album for five hundred million dollars because people, a lot 1355 01:08:26,720 --> 01:08:29,080 Speaker 1: of old people don't listen to new music anymore. They're 1356 01:08:29,120 --> 01:08:30,679 Speaker 1: just like, oh, let me go fire up a pink 1357 01:08:30,680 --> 01:08:33,240 Speaker 1: Floyd and listen. Pink Floid is fine, and so don't 1358 01:08:33,240 --> 01:08:36,040 Speaker 1: come after me. But I mean, you know, someone who 1359 01:08:36,040 --> 01:08:37,720 Speaker 1: listens to a lot of like hip hop and rap 1360 01:08:37,720 --> 01:08:39,200 Speaker 1: from when I was in high school in college, I 1361 01:08:39,280 --> 01:08:42,000 Speaker 1: can't really talk'd be nice to just listen to some 1362 01:08:42,040 --> 01:08:44,080 Speaker 1: new music for every once in a while. I mean, 1363 01:08:44,439 --> 01:08:46,320 Speaker 1: I think this fact is is that a lot of 1364 01:08:46,360 --> 01:08:48,200 Speaker 1: the movie stars and some of the best movies that 1365 01:08:48,200 --> 01:08:50,360 Speaker 1: were made would just never get made today. So Matt 1366 01:08:50,400 --> 01:08:53,240 Speaker 1: Damon made his bones on Goodwill Hunting. Good Will Hunting 1367 01:08:53,320 --> 01:08:55,880 Speaker 1: was a massive hit. It was a cultural sensation. No 1368 01:08:55,880 --> 01:08:58,080 Speaker 1: way it gets made today. Yeah, Silence of the Lambs, 1369 01:08:58,479 --> 01:09:01,560 Speaker 1: you know, based on the book of these breakout performances 1370 01:09:01,600 --> 01:09:04,720 Speaker 1: like Jodie Foster as an adult and Hannibal Lecter. You know, 1371 01:09:04,760 --> 01:09:06,960 Speaker 1: the guy wins the Oscar after spending only like eleven 1372 01:09:07,000 --> 01:09:09,200 Speaker 1: minutes on the screen. This stuff has gone. It's just 1373 01:09:09,240 --> 01:09:10,800 Speaker 1: not good. Yeah, every once in a while, a good 1374 01:09:10,800 --> 01:09:13,320 Speaker 1: one squeaks through. Actually, Damon was in that movie Still Water, 1375 01:09:13,360 --> 01:09:16,439 Speaker 1: which was awesome, So like I'm not saying it can't happen, 1376 01:09:16,560 --> 01:09:19,120 Speaker 1: there can be still like that. Really, Oh, I loved it. 1377 01:09:19,280 --> 01:09:22,679 Speaker 1: I thought it was cool. Well, I don't know, Caro sured, Well, 1378 01:09:22,720 --> 01:09:25,000 Speaker 1: there you go, right, which is that even then, like 1379 01:09:25,200 --> 01:09:29,559 Speaker 1: the true like awesome risk taking movies that they used 1380 01:09:29,600 --> 01:09:32,040 Speaker 1: to make in the studio system is just gone, and 1381 01:09:32,479 --> 01:09:35,040 Speaker 1: based on everything that I've read, it is probably just 1382 01:09:35,080 --> 01:09:37,400 Speaker 1: not going to come back for a really long time, 1383 01:09:37,520 --> 01:09:39,600 Speaker 1: if ever. And I think that's sad. I think that 1384 01:09:39,680 --> 01:09:42,519 Speaker 1: people growing up today, you know, are basically you get 1385 01:09:42,560 --> 01:09:45,400 Speaker 1: high brow content and HBO and then Netflix and everything 1386 01:09:45,400 --> 01:09:50,200 Speaker 1: else is like is it cake or Formula one season five? Fine? 1387 01:09:50,320 --> 01:09:52,559 Speaker 1: I'm just saying, you know, I want a little bit more. 1388 01:09:53,840 --> 01:09:56,160 Speaker 1: I watched my daughter made me watch that movie, not 1389 01:09:56,760 --> 01:10:00,880 Speaker 1: that movie, the show Ultimatum or something. I watched Love 1390 01:10:00,920 --> 01:10:03,120 Speaker 1: Is Blind, of which, by the way, Nick Thompson shout out, 1391 01:10:03,160 --> 01:10:06,040 Speaker 1: great fan of the show. Just WATCHHGTV. By the way, 1392 01:10:06,240 --> 01:10:08,679 Speaker 1: after the Altar, Season two is coming out, so we'll 1393 01:10:08,680 --> 01:10:10,880 Speaker 1: catch up with the Love Is Blind couples. Looking forward 1394 01:10:10,920 --> 01:10:13,320 Speaker 1: to that very much. So I'm a victim as just 1395 01:10:13,360 --> 01:10:18,120 Speaker 1: as much as I indeed good to pass up. Crissel, 1396 01:10:18,160 --> 01:10:19,519 Speaker 1: what are you taking a look at? We have spent 1397 01:10:19,680 --> 01:10:22,439 Speaker 1: a lot of time here previewing the midterm elections, learning 1398 01:10:22,439 --> 01:10:24,840 Speaker 1: about the candidates, digging into the polls, tracking how the 1399 01:10:24,840 --> 01:10:28,040 Speaker 1: ground shifted after the overturning of Roe versus Wade, But 1400 01:10:28,080 --> 01:10:31,320 Speaker 1: why so many factors still augur for a strong Republican performance. 1401 01:10:31,600 --> 01:10:33,200 Speaker 1: But I wanted to take a step back today and 1402 01:10:33,240 --> 01:10:36,720 Speaker 1: ask a bigger question. What is actually at stake in 1403 01:10:36,760 --> 01:10:40,080 Speaker 1: these midterms? If Republicans dominate taking the House and taking 1404 01:10:40,080 --> 01:10:43,040 Speaker 1: the Senate, what does that mean? If Democrats shock everyone 1405 01:10:43,080 --> 01:10:45,720 Speaker 1: by keeping control, what does it mean? The answer is 1406 01:10:45,720 --> 01:10:47,960 Speaker 1: a bit more opaque than one might hope, primarily because 1407 01:10:48,040 --> 01:10:51,599 Speaker 1: neither party is actually running on an agenda at all. Famously, 1408 01:10:51,680 --> 01:10:54,720 Speaker 1: Mitch McConnell outright told the Republican caucus and donors that 1409 01:10:54,800 --> 01:10:57,599 Speaker 1: the party would not be running on a legislative agenda. 1410 01:10:57,920 --> 01:11:00,479 Speaker 1: Axios had the report from back in December. A fancy 1411 01:11:00,520 --> 01:11:02,960 Speaker 1: event with donors, McConnell's asked something to the effect of, 1412 01:11:03,320 --> 01:11:05,479 Speaker 1: we all must know what's wrong with the Democrats, but 1413 01:11:05,560 --> 01:11:07,439 Speaker 1: what are we going to be running on to help 1414 01:11:07,560 --> 01:11:10,320 Speaker 1: us win. McConnell's response was something to the effect of, 1415 01:11:10,680 --> 01:11:13,920 Speaker 1: with all respect, that's not what we're doing. According to 1416 01:11:13,960 --> 01:11:16,240 Speaker 1: a source, he has stayed true to his word, although 1417 01:11:16,280 --> 01:11:18,439 Speaker 1: Kevin McCarthy and Rick Scott did make some noise about 1418 01:11:18,439 --> 01:11:22,240 Speaker 1: a potential Republican agenda. McConnell's effectively won the argument. Candidates 1419 01:11:22,240 --> 01:11:24,960 Speaker 1: across the country have largely stuck to attacking Biden, highlighting 1420 01:11:25,000 --> 01:11:27,639 Speaker 1: the damage of inflation, and avoiding any discussion of abortion 1421 01:11:27,920 --> 01:11:30,720 Speaker 1: like the plague. As I mentioned on Tuesday's show, the 1422 01:11:30,800 --> 01:11:34,120 Speaker 1: one thing they have made very clear they're super excited 1423 01:11:34,160 --> 01:11:37,600 Speaker 1: about is launching a whole series of Bengazi style investigations. 1424 01:11:37,920 --> 01:11:40,719 Speaker 1: McCarthy himself declared after the mar A Lago raid, quote 1425 01:11:40,760 --> 01:11:43,960 Speaker 1: Attorney General Garland, preserve your documents and clear your calendar. 1426 01:11:44,240 --> 01:11:46,719 Speaker 1: Rand Paul took the occasion of Fauchi's retirement to announce 1427 01:11:46,840 --> 01:11:50,400 Speaker 1: quote Fauchi's resignation will not prevent a full throatened investigation 1428 01:11:50,439 --> 01:11:52,479 Speaker 1: into the origins of the pandemic. He will be asked 1429 01:11:52,520 --> 01:11:55,439 Speaker 1: to testify under oath regarding any discussions he participated in 1430 01:11:55,479 --> 01:11:58,200 Speaker 1: concerning the lab leak. And just about everyone has said 1431 01:11:58,200 --> 01:12:00,439 Speaker 1: they are eager to spend endless amounts of time improbing 1432 01:12:00,439 --> 01:12:02,960 Speaker 1: the dealings of Hunter Biden. It actually goes even further 1433 01:12:03,000 --> 01:12:05,680 Speaker 1: than that, though document preservation requests have already gone out 1434 01:12:05,680 --> 01:12:07,920 Speaker 1: to those involved in the January six probe and officials 1435 01:12:08,000 --> 01:12:11,120 Speaker 1: involved in Afghanistan. Madral and to Twitter over the collapse 1436 01:12:11,160 --> 01:12:14,720 Speaker 1: sale to Elon Musk. So yeah, I think these investigations 1437 01:12:14,760 --> 01:12:17,200 Speaker 1: are pretty much it in terms of the GOP agenda. 1438 01:12:17,520 --> 01:12:19,639 Speaker 1: This is what they'll be focused on now. They'll probably 1439 01:12:19,680 --> 01:12:22,719 Speaker 1: also do some conservative virtue signaling bills like the federal 1440 01:12:22,800 --> 01:12:25,679 Speaker 1: version of the Stop Woke Act or something like that 1441 01:12:26,000 --> 01:12:29,000 Speaker 1: doomed Culture War flailings designed more for cable news than 1442 01:12:29,000 --> 01:12:32,439 Speaker 1: for actual governing. But as easy it is as it 1443 01:12:32,479 --> 01:12:35,320 Speaker 1: is to mock the Republicans for the remarkable candor around 1444 01:12:35,320 --> 01:12:37,720 Speaker 1: the fact that they are literally running on nothing, the 1445 01:12:37,760 --> 01:12:40,719 Speaker 1: dirty little secret here is that Democrats are not actually 1446 01:12:40,800 --> 01:12:44,559 Speaker 1: running on an agenda either. Sure, individual candidates will top 1447 01:12:44,640 --> 01:12:47,839 Speaker 1: their support for this or that policy, but does literally 1448 01:12:47,880 --> 01:12:50,160 Speaker 1: anyone have any idea what they would actually do with 1449 01:12:50,240 --> 01:12:52,439 Speaker 1: their power if they were granted two more years with 1450 01:12:52,479 --> 01:12:56,719 Speaker 1: trifecta control in DC. I've asked around. There genuinely seems 1451 01:12:56,720 --> 01:12:59,000 Speaker 1: to be no plan, And it's actually less forgivable for 1452 01:12:59,040 --> 01:13:01,280 Speaker 1: the Democrats. After all, their guys in the White House. 1453 01:13:01,360 --> 01:13:04,160 Speaker 1: Republicans could reasonably argue that most of their agenda would 1454 01:13:04,200 --> 01:13:06,640 Speaker 1: be vetoed by Biden anyway, so may as well just 1455 01:13:06,680 --> 01:13:09,040 Speaker 1: wait till they get one of their own at Pennsylvania Avenue. 1456 01:13:09,439 --> 01:13:12,720 Speaker 1: What is a Democratic excuse now? Biden essentially fumbled into 1457 01:13:12,720 --> 01:13:15,080 Speaker 1: a couple policy wins here recently, but he's never really 1458 01:13:15,080 --> 01:13:17,040 Speaker 1: had a vision outside of defeat Trump and then make 1459 01:13:17,080 --> 01:13:19,680 Speaker 1: a few moderate improvements that he can sell to a 1460 01:13:19,680 --> 01:13:23,200 Speaker 1: sycophantic press as being historic. He didn't actually care what 1461 01:13:23,240 --> 01:13:26,080 Speaker 1: those few moderate improvements were, in particular climate, health care, 1462 01:13:26,160 --> 01:13:28,240 Speaker 1: child tax credit. The details didn't matter to him so 1463 01:13:28,280 --> 01:13:31,480 Speaker 1: much as something was getting done. There's no sense of priorities, 1464 01:13:31,479 --> 01:13:34,639 Speaker 1: focus or vision. Contrast that to the Republicans. When they 1465 01:13:34,640 --> 01:13:37,040 Speaker 1: get power, whether they advertise their full agenda to the 1466 01:13:37,040 --> 01:13:39,840 Speaker 1: American people or not, they sure as hell know what 1467 01:13:39,880 --> 01:13:42,560 Speaker 1: they're going to do with that power. But although Democrats 1468 01:13:42,600 --> 01:13:45,479 Speaker 1: like to pretend they're facing down an existential national crisis, 1469 01:13:45,760 --> 01:13:48,559 Speaker 1: they somehow lack any urgency or a vision about how 1470 01:13:48,680 --> 01:13:51,840 Speaker 1: exactly to tackle it. The fact that they so consistently 1471 01:13:51,840 --> 01:13:53,719 Speaker 1: fail to meet the moment is of course a loss 1472 01:13:53,760 --> 01:13:56,240 Speaker 1: with the country, but it's pretty politically foolish as well. 1473 01:13:56,560 --> 01:13:59,639 Speaker 1: Mid Terms are all about turnout which side is fired 1474 01:13:59,680 --> 01:14:02,200 Speaker 1: up and to show up and back their people. Dobbs's 1475 01:14:02,280 --> 01:14:05,000 Speaker 1: brief political life back into the Democrats, giving them an 1476 01:14:05,000 --> 01:14:07,120 Speaker 1: issue that they can legitimately scare the crap out of 1477 01:14:07,160 --> 01:14:10,400 Speaker 1: people with, accompanied by genuinely horrific stories of rape, children, 1478 01:14:10,439 --> 01:14:13,240 Speaker 1: denied abortions. But there's a very clear case that can 1479 01:14:13,280 --> 01:14:15,360 Speaker 1: be made here that if Democrats held the House and 1480 01:14:15,400 --> 01:14:18,280 Speaker 1: picked up two more Senate seats, they could pick back 1481 01:14:18,360 --> 01:14:21,360 Speaker 1: up the crucial pieces of Biden's Build Back Better agenda, 1482 01:14:21,600 --> 01:14:24,800 Speaker 1: which were dropped due to the opposition of Mansion and Cinema. 1483 01:14:25,160 --> 01:14:27,240 Speaker 1: All they need to do is to get a big 1484 01:14:27,320 --> 01:14:30,639 Speaker 1: reconciliation package with significant wins, is to hold their current 1485 01:14:30,680 --> 01:14:33,280 Speaker 1: seats and then beat doctor Oz and beat Ron Johnson 1486 01:14:33,280 --> 01:14:37,040 Speaker 1: in Wisconsin. Now. Granted, it's still a long shot, but 1487 01:14:37,160 --> 01:14:39,880 Speaker 1: they do actually have a shot now, and there is 1488 01:14:39,960 --> 01:14:42,640 Speaker 1: an extremely popular agenda that is on the table for 1489 01:14:42,720 --> 01:14:45,400 Speaker 1: the taking. They could promise to expand Medicare to include 1490 01:14:45,439 --> 01:14:49,200 Speaker 1: dental envision. They could reinstate the phenomenally successful child tax credit. 1491 01:14:49,200 --> 01:14:52,120 Speaker 1: They could implement universal pre K. They can advertise ten 1492 01:14:52,200 --> 01:14:54,200 Speaker 1: K in student debt relief, not as just a one 1493 01:14:54,200 --> 01:14:56,200 Speaker 1: time get down a jail free card, but as a 1494 01:14:56,280 --> 01:15:00,760 Speaker 1: first step before providing free community college for everyone. These 1495 01:15:00,800 --> 01:15:04,360 Speaker 1: issues are exciting to the base, and they're also extremely 1496 01:15:04,360 --> 01:15:07,599 Speaker 1: popular with independence. They might be the jolt DEM's need 1497 01:15:07,680 --> 01:15:10,360 Speaker 1: to go from just avoiding a shll aking to actually 1498 01:15:10,360 --> 01:15:14,280 Speaker 1: making significant gains. They won't, though, because they've capitulated to 1499 01:15:14,360 --> 01:15:17,040 Speaker 1: Larry Summers and the righte on inflation, tacitly accepting their 1500 01:15:17,040 --> 01:15:19,439 Speaker 1: framing that the problem was the help given to working 1501 01:15:19,479 --> 01:15:23,040 Speaker 1: people rather than to corporate price couging and corporate failures 1502 01:15:23,080 --> 01:15:25,840 Speaker 1: in the face of supply chain disruptions. They won't also 1503 01:15:26,080 --> 01:15:28,759 Speaker 1: because it's just so much easier to run their standard 1504 01:15:28,840 --> 01:15:33,599 Speaker 1: lesser evil playbook. Making promises means someone might actually expect 1505 01:15:33,600 --> 01:15:36,120 Speaker 1: you to fulfill them. It is a sad commentary on 1506 01:15:36,160 --> 01:15:39,280 Speaker 1: our political system that both parties can get away with 1507 01:15:39,600 --> 01:15:42,840 Speaker 1: brazenly running on zero agenda at a time when so 1508 01:15:43,040 --> 01:15:46,200 Speaker 1: much needs to be done and horse race obsessed partisan 1509 01:15:46,240 --> 01:15:50,400 Speaker 1: media doesn't even notice or care. I just sort of realized, 1510 01:15:50,439 --> 01:15:52,400 Speaker 1: like as I was thinking this through, you know, I've 1511 01:15:52,400 --> 01:15:54,439 Speaker 1: definitely given them Republicans a hard and if you want 1512 01:15:54,439 --> 01:15:57,360 Speaker 1: to hear my reaction to Crystal's monologue, become a premium 1513 01:15:57,360 --> 01:16:03,639 Speaker 1: subscriber today at Breakingpoints dot Com. All right, zicher really good? 1514 01:16:03,600 --> 01:16:06,000 Speaker 1: At well, at this point, you guys have heard my view. 1515 01:16:06,040 --> 01:16:09,439 Speaker 1: I'm against the current student debt cancelation unless the corrupt 1516 01:16:09,439 --> 01:16:12,479 Speaker 1: college industry is dealt with first. I understand all the 1517 01:16:12,520 --> 01:16:15,400 Speaker 1: pro arguments and don't let the perfect be the enemy mode. 1518 01:16:15,439 --> 01:16:18,879 Speaker 1: I get it, don't prolong suffering, But to me, considering 1519 01:16:18,920 --> 01:16:21,439 Speaker 1: the fact that government action is scarce, that often you 1520 01:16:21,520 --> 01:16:23,439 Speaker 1: really only get one shot at these types of things, 1521 01:16:23,560 --> 01:16:25,400 Speaker 1: and this is likely to be the last student debt 1522 01:16:25,439 --> 01:16:27,519 Speaker 1: action for quite some time, I can see this as 1523 01:16:27,600 --> 01:16:30,080 Speaker 1: nothing more than akin to the immorality of the way 1524 01:16:30,080 --> 01:16:32,120 Speaker 1: that we dealt with the financial crisis of two thousand 1525 01:16:32,160 --> 01:16:34,240 Speaker 1: and eight. In two thousand and eight, at a basic level, 1526 01:16:34,240 --> 01:16:36,240 Speaker 1: we bailed out of the financial institutions who caused the 1527 01:16:36,280 --> 01:16:38,240 Speaker 1: mess that we were in, and we let the homeowners 1528 01:16:38,280 --> 01:16:40,960 Speaker 1: go bankrupt. Lives were ruined for a generation, of which 1529 01:16:41,000 --> 01:16:44,320 Speaker 1: many people never recovered. Today's student debt cancelation, yes, it 1530 01:16:44,400 --> 01:16:47,160 Speaker 1: will help optics to that had ten thousand dollars. It's similar. 1531 01:16:47,320 --> 01:16:49,600 Speaker 1: There was a weak consumer argument for bailing out. The 1532 01:16:49,640 --> 01:16:52,440 Speaker 1: banks had to do so so people could get basic services, 1533 01:16:52,600 --> 01:16:55,519 Speaker 1: companies could get payroll, people wouldn't lose faith in the system. 1534 01:16:55,680 --> 01:16:57,240 Speaker 1: But at the end of the day, we all know 1535 01:16:57,320 --> 01:16:59,760 Speaker 1: exactly who helped them most, and the same is said 1536 01:16:59,800 --> 01:17:02,800 Speaker 1: for ten K student loan debt cancelation. Ten K, by 1537 01:17:02,840 --> 01:17:06,760 Speaker 1: current estimates, touches approximately thirty one percent of all borrowers. 1538 01:17:06,960 --> 01:17:09,320 Speaker 1: That's great, certainly, but what they don't tell you is 1539 01:17:09,320 --> 01:17:11,519 Speaker 1: that the two thirds who remain will continue to have 1540 01:17:11,520 --> 01:17:14,439 Speaker 1: to pay down not only their balances and accruing interests. 1541 01:17:14,720 --> 01:17:17,360 Speaker 1: What the Biden policy also does not do is deal 1542 01:17:17,400 --> 01:17:19,559 Speaker 1: with the students and others in the pipeline who will 1543 01:17:19,600 --> 01:17:22,360 Speaker 1: continue to come through the system. This is where the 1544 01:17:22,400 --> 01:17:25,040 Speaker 1: cancelation of ten K, or any cancelation without dealing with 1545 01:17:25,040 --> 01:17:28,320 Speaker 1: the college industry is corrupt. If you cancel ten thousand 1546 01:17:28,360 --> 01:17:31,000 Speaker 1: dollars in student loan debt, the overall level of debt 1547 01:17:31,040 --> 01:17:33,519 Speaker 1: will return to one point eight trillion in literally just 1548 01:17:33,560 --> 01:17:37,200 Speaker 1: four years. Even if you took full cancelation, it would 1549 01:17:37,240 --> 01:17:40,080 Speaker 1: be back in fifteen years. That is immoral. It is 1550 01:17:40,120 --> 01:17:42,600 Speaker 1: effectively a puny gift to a small segment of the 1551 01:17:42,600 --> 01:17:45,160 Speaker 1: population who also, by the way, happen to be disproportionately 1552 01:17:45,240 --> 01:17:48,080 Speaker 1: vote for the Democratic Party, and then still continually to 1553 01:17:48,120 --> 01:17:51,320 Speaker 1: screw the current students who are in the pipeline. Right 1554 01:17:51,360 --> 01:17:54,320 Speaker 1: before those who come before them. There's only one way 1555 01:17:54,360 --> 01:17:56,800 Speaker 1: to fix this. It has to be done, and it 1556 01:17:56,840 --> 01:18:01,400 Speaker 1: can't come later. You have to destroy the corrupt college industry. 1557 01:18:01,560 --> 01:18:05,000 Speaker 1: It has exploded over the last forty years. Since nineteen eighty, 1558 01:18:05,040 --> 01:18:08,400 Speaker 1: college tuition and fees are up twelve hundred percent, while 1559 01:18:08,439 --> 01:18:11,240 Speaker 1: the CPI is up two hundred and thirty six So literally, 1560 01:18:11,320 --> 01:18:14,120 Speaker 1: costs of college and fees have risen five times faster 1561 01:18:14,200 --> 01:18:17,920 Speaker 1: than overall inflation. In the last twenty years, it's accelerated. 1562 01:18:18,120 --> 01:18:20,320 Speaker 1: The average cost of private college in two thousand and 1563 01:18:20,400 --> 01:18:23,479 Speaker 1: two was eighteen thousand dollars a year, ten thousand for 1564 01:18:23,520 --> 01:18:26,759 Speaker 1: out of state, thirty seven four hundred for instate. Today, 1565 01:18:27,000 --> 01:18:30,240 Speaker 1: the average cost of private college is forty three hundred 1566 01:18:30,320 --> 01:18:34,639 Speaker 1: dollars twenty eight or forty three thousand twenty eight thousand 1567 01:18:34,680 --> 01:18:38,200 Speaker 1: for out of state and eleven thousand, six hundred for 1568 01:18:38,320 --> 01:18:42,320 Speaker 1: in state. That means an in state tuition degree is 1569 01:18:42,360 --> 01:18:47,920 Speaker 1: currently running the average person forty thousand dollars for private colleges. 1570 01:18:48,000 --> 01:18:56,880 Speaker 1: It's one hundred and sixty that are costs increasing this much. 1571 01:18:57,040 --> 01:19:00,960 Speaker 1: The answer is actually student debt itself, and again demonstrates 1572 01:19:01,000 --> 01:19:04,200 Speaker 1: the corrupt arrangement between the student debt industry, the government, 1573 01:19:04,240 --> 01:19:06,880 Speaker 1: and the colleges themselves. A landmark study from the New 1574 01:19:06,920 --> 01:19:09,920 Speaker 1: York Fed in twenty seventeen exposed just how corrupt this 1575 01:19:10,000 --> 01:19:13,479 Speaker 1: bargain is. For every one dollar of increase in student debt, 1576 01:19:13,680 --> 01:19:16,360 Speaker 1: colleges increase their price of tuition and fees by a 1577 01:19:16,360 --> 01:19:19,800 Speaker 1: whopping sixty cents. Consider that this is fully a wealth 1578 01:19:19,800 --> 01:19:22,920 Speaker 1: transfer to the colleges. Furthermore, of the remaining forty cents 1579 01:19:22,960 --> 01:19:25,200 Speaker 1: on the dollar, the vast majority of it is being 1580 01:19:25,240 --> 01:19:28,799 Speaker 1: profited on by the debt facilitators themselves, who are making 1581 01:19:28,840 --> 01:19:32,439 Speaker 1: money hand over fists from interest repayments. The only person 1582 01:19:32,520 --> 01:19:35,720 Speaker 1: not making money is you. The case for college and 1583 01:19:35,800 --> 01:19:38,559 Speaker 1: debt was simple, Yes it costs more, but you make 1584 01:19:38,600 --> 01:19:40,600 Speaker 1: more money over the course of your life. That is 1585 01:19:40,640 --> 01:19:43,040 Speaker 1: still mostly true, and it was especially true in the 1586 01:19:43,080 --> 01:19:45,040 Speaker 1: eighties and the nineties, But we are living in an 1587 01:19:45,160 --> 01:19:48,320 Speaker 1: entirely new world today. Of today, nearly one quarter of 1588 01:19:48,360 --> 01:19:51,760 Speaker 1: four year college degree entries do not graduate, meaning they 1589 01:19:51,800 --> 01:19:54,240 Speaker 1: have debt and they don't have the premium. The rest 1590 01:19:54,240 --> 01:19:56,679 Speaker 1: of them have seen wages and the wage premium itself 1591 01:19:56,840 --> 01:20:00,720 Speaker 1: stagnate right alongside of those who don't have a college degree. 1592 01:20:00,800 --> 01:20:03,960 Speaker 1: In effect, no wage earners are getting raises at the 1593 01:20:03,960 --> 01:20:06,479 Speaker 1: same rate that the colleges are, so at the whole 1594 01:20:06,520 --> 01:20:09,200 Speaker 1: point of colleges to help you earn more, that promise 1595 01:20:09,360 --> 01:20:13,799 Speaker 1: is dwindling. Yet these crooks are charging astronomically high prices. 1596 01:20:13,960 --> 01:20:16,280 Speaker 1: So where is all this money going? I ask again, 1597 01:20:16,520 --> 01:20:19,080 Speaker 1: It's not to your education. In fact, it is to 1598 01:20:19,160 --> 01:20:23,200 Speaker 1: the massive enrichment of the colleges themselves, their administrators, and 1599 01:20:23,320 --> 01:20:26,800 Speaker 1: especially the largest banks on Wall Street. Colleges are nonprofit, 1600 01:20:26,840 --> 01:20:29,200 Speaker 1: they are not subject to taxation. They have in the 1601 01:20:29,240 --> 01:20:32,679 Speaker 1: last twenty years effectively become wealth management funds. The total 1602 01:20:32,680 --> 01:20:35,320 Speaker 1: market value of college endowments in twenty twenty was a 1603 01:20:35,360 --> 01:20:38,960 Speaker 1: whopping six hundred and forty five billion dollars. Harvard and 1604 01:20:39,040 --> 01:20:42,719 Speaker 1: Yale respectively have forty and thirty billion, which are earning 1605 01:20:43,240 --> 01:20:47,200 Speaker 1: massive premiums on Wall Street, paying fat fees to venture 1606 01:20:47,240 --> 01:20:49,920 Speaker 1: capital funds that invest in as well as other private 1607 01:20:49,920 --> 01:20:52,799 Speaker 1: equity and hedge funds. The people who service these funds 1608 01:20:53,479 --> 01:20:58,840 Speaker 1: are becoming genuinely filthy rich off the profits that they distribute, 1609 01:20:59,000 --> 01:21:02,280 Speaker 1: all of which is ill gotten from subsidies paid by 1610 01:21:02,360 --> 01:21:05,920 Speaker 1: you through loans or your parents hard earned money. Beyond 1611 01:21:05,920 --> 01:21:09,519 Speaker 1: the financial institutions, who else is making a massive profit? Well? 1612 01:21:09,840 --> 01:21:13,440 Speaker 1: An eight year review of fifteen hundred colleges and universities 1613 01:21:13,640 --> 01:21:16,880 Speaker 1: found that they those who accept federal student loans. That 1614 01:21:17,040 --> 01:21:21,800 Speaker 1: spending at higher education institutions on quote, student services and 1615 01:21:21,920 --> 01:21:29,479 Speaker 1: administration outpaced all spending on instruction aka not education. Who 1616 01:21:29,560 --> 01:21:32,679 Speaker 1: are the so called administrators? You guessed it. The massive 1617 01:21:32,720 --> 01:21:35,840 Speaker 1: growth has been funneled not only to the administrators traditionally 1618 01:21:36,080 --> 01:21:38,720 Speaker 1: at colleges, but to the so called diversity equity and 1619 01:21:38,760 --> 01:21:41,519 Speaker 1: inclusion racket. In fact, over the last five years, the 1620 01:21:41,560 --> 01:21:44,719 Speaker 1: average university in the United States now has an average, 1621 01:21:44,840 --> 01:21:48,639 Speaker 1: yes average, forty five people gainfully employed to promote diversity, 1622 01:21:48,680 --> 01:21:51,160 Speaker 1: equity and inclusion. My personal favorite example is of the 1623 01:21:51,240 --> 01:21:54,000 Speaker 1: University of North Carolina. They have thirteen times more people 1624 01:21:54,000 --> 01:21:58,280 Speaker 1: working on campus diversity, equity and inclusion than students with disabilities. 1625 01:21:58,520 --> 01:22:01,880 Speaker 1: That multiple remains double and six at many of the 1626 01:22:01,920 --> 01:22:04,360 Speaker 1: largest universities in the United States, all of which are 1627 01:22:04,360 --> 01:22:08,040 Speaker 1: state universities. All of these people are making bank full 1628 01:22:08,080 --> 01:22:12,200 Speaker 1: state benefits off your tuition money to recap Colleges in 1629 01:22:12,320 --> 01:22:14,760 Speaker 1: league with the student loan borrowers have taken millions of 1630 01:22:14,800 --> 01:22:17,519 Speaker 1: students for the ride of a lifetime. The current policy 1631 01:22:17,520 --> 01:22:20,919 Speaker 1: by the Biden administration provides measley relief to those students, 1632 01:22:21,080 --> 01:22:24,639 Speaker 1: while also nothing to attack the criminals who have taken 1633 01:22:24,760 --> 01:22:28,719 Speaker 1: their money spent it on everything under the sun, mostly 1634 01:22:28,760 --> 01:22:32,479 Speaker 1: on BS diversity programs and lazy rivers except for new 1635 01:22:32,520 --> 01:22:36,439 Speaker 1: instruction and research. All those people need to be brought 1636 01:22:36,439 --> 01:22:40,360 Speaker 1: to justice. Then student loan cancelation that does nothing right 1637 01:22:40,400 --> 01:22:43,519 Speaker 1: now except for incentivize people to take out more loans 1638 01:22:43,600 --> 01:22:46,880 Speaker 1: with the hope of cancelation in the future, profiting the criminals. 1639 01:22:46,960 --> 01:22:49,240 Speaker 1: The more loans, the more these people make. I don't 1640 01:22:49,280 --> 01:22:51,280 Speaker 1: think that's how I'm supposed to work. I end by 1641 01:22:51,320 --> 01:22:53,680 Speaker 1: noting again in my position, the level of student debt 1642 01:22:53,760 --> 01:22:58,280 Speaker 1: right now is criminal. It is immoral. It destroys families, 1643 01:22:58,400 --> 01:23:00,720 Speaker 1: It destroys the promise of the America and dream. And 1644 01:23:00,760 --> 01:23:02,920 Speaker 1: if we deal with the colleges, I say, wipe every 1645 01:23:03,080 --> 01:23:05,160 Speaker 1: scrap of it out by taxing the endowments of these 1646 01:23:05,240 --> 01:23:07,519 Speaker 1: universities one hundred percent and then making it so they 1647 01:23:07,560 --> 01:23:10,679 Speaker 1: can never make profit again. But the current policy doesn't 1648 01:23:10,680 --> 01:23:13,040 Speaker 1: do any of that. That's I'm against it, and I 1649 01:23:13,040 --> 01:23:14,840 Speaker 1: hope they can understand how I got to this place. 1650 01:23:15,120 --> 01:23:17,719 Speaker 1: I just think it's very important for soon and I think, frankly, 1651 01:23:17,720 --> 01:23:19,280 Speaker 1: a lot of people on the leftist and if you 1652 01:23:19,320 --> 01:23:22,120 Speaker 1: want to hear my reaction to Sagre's monologue, become a 1653 01:23:22,160 --> 01:23:28,559 Speaker 1: premium subscriber today at Breakingpoints dot Com. Joining us now 1654 01:23:28,640 --> 01:23:33,280 Speaker 1: the editor of The Real News and the author of 1655 01:23:33,400 --> 01:23:36,400 Speaker 1: the new book, The Work of Living Working people talk 1656 01:23:36,439 --> 01:23:39,280 Speaker 1: about their lives and the year the world broke Our 1657 01:23:39,320 --> 01:23:42,200 Speaker 1: great friend, Maximilian Alvarez. Great to see sir, goodee man, 1658 01:23:42,240 --> 01:23:44,640 Speaker 1: Good to see you guys. I think this book is 1659 01:23:44,720 --> 01:23:48,479 Speaker 1: very courageous, first of all, because it's very rare that 1660 01:23:48,520 --> 01:23:52,479 Speaker 1: you have actual working people just directly their voices put 1661 01:23:52,520 --> 01:23:55,160 Speaker 1: out into the press and shared with the world. A 1662 01:23:55,160 --> 01:23:57,440 Speaker 1: lot of times it's people who pretend to be conduits 1663 01:23:57,520 --> 01:24:00,880 Speaker 1: or speak on their behalf. And so you actually spoke 1664 01:24:00,960 --> 01:24:03,519 Speaker 1: with a lot of folks who might have been deemed 1665 01:24:03,680 --> 01:24:07,960 Speaker 1: essential workers during the height of the COVID nineteen pandemic. 1666 01:24:08,800 --> 01:24:11,479 Speaker 1: What was the inspiration for the book and the reason 1667 01:24:11,560 --> 01:24:15,439 Speaker 1: why you wanted to take this approach. Well, thank you 1668 01:24:15,479 --> 01:24:17,880 Speaker 1: so much for having me on to talk about the book. 1669 01:24:18,160 --> 01:24:19,960 Speaker 1: I'm still kind of blown away that it's out in 1670 01:24:20,040 --> 01:24:22,000 Speaker 1: the world now, it felt like it would never happen. 1671 01:24:22,360 --> 01:24:25,960 Speaker 1: But yeah, I think it's a great question. I mean, obviously, 1672 01:24:26,000 --> 01:24:28,320 Speaker 1: it's kind of a continuation of the work that I've 1673 01:24:28,360 --> 01:24:31,000 Speaker 1: been doing at Working People and now that I'm honored 1674 01:24:31,040 --> 01:24:33,439 Speaker 1: to do at the Real News talking to working people 1675 01:24:33,479 --> 01:24:37,160 Speaker 1: about their lives, jobs, dreams and struggles, right and talking 1676 01:24:37,200 --> 01:24:39,320 Speaker 1: in depth about who they are, how they came to 1677 01:24:39,360 --> 01:24:42,559 Speaker 1: be the people they are, how they experience the world, 1678 01:24:42,880 --> 01:24:44,920 Speaker 1: what they go through at work, and stuff like that. 1679 01:24:45,479 --> 01:24:49,200 Speaker 1: So this book, I think really grew out of a 1680 01:24:49,240 --> 01:24:52,599 Speaker 1: two part episode I'm Working People that I did in 1681 01:24:52,720 --> 01:24:55,240 Speaker 1: the late spring of twenty twenty. So this was like 1682 01:24:55,280 --> 01:24:57,840 Speaker 1: a month and a half into the pandemic, and for 1683 01:24:57,920 --> 01:25:00,320 Speaker 1: folks just watching, I just want to EMPHASI I was like, 1684 01:25:00,360 --> 01:25:03,160 Speaker 1: remember where we were at that moment. Everyone was terrified, 1685 01:25:03,200 --> 01:25:05,840 Speaker 1: no one knew what was going on. People were dying. 1686 01:25:06,200 --> 01:25:08,559 Speaker 1: It was an incredibly scary time. So I put out 1687 01:25:08,600 --> 01:25:11,479 Speaker 1: this call on social media for workers to send in 1688 01:25:11,520 --> 01:25:14,160 Speaker 1: testimonies about what they were going through, and I was 1689 01:25:14,240 --> 01:25:17,320 Speaker 1: overwhelmed by the responses. I ended up posting six hours 1690 01:25:17,360 --> 01:25:21,320 Speaker 1: worth of testimonies in a two part episode from folks 1691 01:25:21,360 --> 01:25:23,880 Speaker 1: talking about what they were going through, and so or 1692 01:25:23,960 --> 01:25:26,360 Speaker 1: Books thankfully reached out and asked if I would want 1693 01:25:26,360 --> 01:25:28,719 Speaker 1: to do a book about that. And I didn't quite 1694 01:25:28,760 --> 01:25:30,280 Speaker 1: know if that was going to be the case. But 1695 01:25:30,400 --> 01:25:33,640 Speaker 1: later that summer the inspiration that you're asking about, I 1696 01:25:33,640 --> 01:25:36,719 Speaker 1: think really came because I started to see in real 1697 01:25:36,800 --> 01:25:40,320 Speaker 1: time how quickly we were becoming accustomed to the things 1698 01:25:40,320 --> 01:25:43,919 Speaker 1: that had horrified us just months before, right, how easily 1699 01:25:43,960 --> 01:25:48,880 Speaker 1: we slipped into acceptance and resignation of the unacceptable response 1700 01:25:49,240 --> 01:25:52,240 Speaker 1: that we had to this pandemic. And when I say we, 1701 01:25:52,360 --> 01:25:54,519 Speaker 1: I mean employers, I mean the government, I mean there 1702 01:25:54,520 --> 01:25:57,200 Speaker 1: were so many people who failed us. But I also 1703 01:25:57,360 --> 01:25:59,720 Speaker 1: saw that it was working people who kept us from 1704 01:25:59,760 --> 01:26:03,639 Speaker 1: falling into the abyss. Right. I saw moments of beauty 1705 01:26:03,720 --> 01:26:08,400 Speaker 1: and solidarity, and the great Molly Krabapple, I think, capture 1706 01:26:08,439 --> 01:26:11,400 Speaker 1: that in the cover of this where she depicts, you know, 1707 01:26:11,479 --> 01:26:14,559 Speaker 1: people standing on their balconies banging pots and pans in 1708 01:26:14,640 --> 01:26:18,080 Speaker 1: honor of frontline workers who were sacrificing to keep the 1709 01:26:18,080 --> 01:26:22,439 Speaker 1: world from falling apart. So I wanted to preserve this 1710 01:26:22,600 --> 01:26:26,040 Speaker 1: moment in time through the voices of the people who 1711 01:26:26,080 --> 01:26:27,920 Speaker 1: were living through it, because I knew that we were 1712 01:26:27,920 --> 01:26:30,400 Speaker 1: going to quickly forget about that, and I knew that 1713 01:26:30,439 --> 01:26:33,160 Speaker 1: we were going to be told to misremember it by 1714 01:26:33,200 --> 01:26:36,400 Speaker 1: people who didn't want us to feel that visceral disgust 1715 01:26:36,760 --> 01:26:39,760 Speaker 1: with how workers were being treated, with how employers were 1716 01:26:39,840 --> 01:26:44,320 Speaker 1: ripping quote unquote hero pay away from actual heroes in 1717 01:26:44,439 --> 01:26:47,400 Speaker 1: hospitals and so on and so forth. So I wanted 1718 01:26:47,439 --> 01:26:50,479 Speaker 1: to make sure that we actually had some voices on 1719 01:26:50,520 --> 01:26:54,000 Speaker 1: the record to remind us now and for future generations 1720 01:26:54,040 --> 01:26:55,479 Speaker 1: what it was actually like. It was a bad time, 1721 01:26:55,520 --> 01:26:57,559 Speaker 1: as a devisive time, but you know, people don't forget 1722 01:26:57,720 --> 01:27:00,360 Speaker 1: like we all for a time, people were like these 1723 01:27:00,360 --> 01:27:03,320 Speaker 1: people work in grocery stores Amazon, you know, they were 1724 01:27:03,320 --> 01:27:05,639 Speaker 1: the real here for a time. For a second, women 1725 01:27:05,720 --> 01:27:09,559 Speaker 1: that were on the like in the chicken striking, all 1726 01:27:09,600 --> 01:27:12,080 Speaker 1: those Yeah, there's no protections for them. I mean to 1727 01:27:12,760 --> 01:27:16,080 Speaker 1: meet the slaughterhouses that were just hot beds of COVID 1728 01:27:16,120 --> 01:27:19,080 Speaker 1: infection and death. Perfect. It went away quickly, as you 1729 01:27:19,120 --> 01:27:21,519 Speaker 1: pointed out. I remember, actually, Chris Line, you and I 1730 01:27:21,560 --> 01:27:24,360 Speaker 1: covered this vividly. It was like Mitt Romney put out 1731 01:27:24,400 --> 01:27:26,600 Speaker 1: that proposal and like hero pay, which was going to 1732 01:27:26,960 --> 01:27:30,080 Speaker 1: increase wages for frontline workers, and I was like, yeah, 1733 01:27:30,200 --> 01:27:32,720 Speaker 1: that's we're good with that. And that was basically that 1734 01:27:32,800 --> 01:27:35,439 Speaker 1: was like six months into the pandemic. So I mean, 1735 01:27:35,880 --> 01:27:38,839 Speaker 1: given how everybody's lived through this, Max, and you continue 1736 01:27:38,880 --> 01:27:42,280 Speaker 1: to host your podcasts and talk with people, obviously it's 1737 01:27:42,320 --> 01:27:45,200 Speaker 1: a very different economic and political time. But what is 1738 01:27:45,240 --> 01:27:47,800 Speaker 1: the lesson for people who did live through that, who 1739 01:27:47,840 --> 01:27:50,559 Speaker 1: worked through that, What did they learn about their worth 1740 01:27:50,600 --> 01:27:53,080 Speaker 1: and about what they can demand? It's a great question, 1741 01:27:53,240 --> 01:27:55,880 Speaker 1: and thinking about this a lot, especially because I have 1742 01:27:55,960 --> 01:27:58,719 Speaker 1: to have a stump speech prepared now. Though the book 1743 01:27:58,800 --> 01:28:02,360 Speaker 1: is out right, I think that I'm constantly emphasizing that 1744 01:28:02,400 --> 01:28:05,040 Speaker 1: everyone here has a unique story, and that's really the 1745 01:28:05,080 --> 01:28:08,960 Speaker 1: overarching takeaway point, right, is that even just ten people 1746 01:28:09,479 --> 01:28:12,640 Speaker 1: spoken to for an hour and a half two hours reveals, 1747 01:28:12,800 --> 01:28:15,080 Speaker 1: I think in this book, right, just how deep and 1748 01:28:15,120 --> 01:28:19,200 Speaker 1: complex and beautiful every human life is. And when you 1749 01:28:19,280 --> 01:28:23,519 Speaker 1: recognize that, you recognize how incalculable of a loss the 1750 01:28:23,560 --> 01:28:26,559 Speaker 1: past two and a half years have been, Right, I mean, 1751 01:28:26,560 --> 01:28:28,840 Speaker 1: when we look at the numbers of millions of people 1752 01:28:29,479 --> 01:28:31,920 Speaker 1: around the world who have died from this. As the 1753 01:28:31,960 --> 01:28:35,040 Speaker 1: great labor organizer Cooper Carraway told me once in my podcasts, 1754 01:28:35,040 --> 01:28:37,960 Speaker 1: he's like, these are not just numbers. These are fellow parishioners, 1755 01:28:38,040 --> 01:28:40,360 Speaker 1: these are co workers, these are parents, these are t 1756 01:28:40,520 --> 01:28:44,799 Speaker 1: ball coaches who are suddenly gone. Right, Every year, my family, 1757 01:28:44,880 --> 01:28:47,800 Speaker 1: like so many others, watches It's a Wonderful Life, right, 1758 01:28:47,840 --> 01:28:50,799 Speaker 1: one of the most celebrated Hollywood movies ever, And the 1759 01:28:50,960 --> 01:28:53,360 Speaker 1: message of that movie is that you cannot measure the 1760 01:28:53,400 --> 01:28:56,200 Speaker 1: worth of one person's life and the impact that they 1761 01:28:56,240 --> 01:28:59,200 Speaker 1: have on each other. Now magnify that by the millions 1762 01:28:59,240 --> 01:29:01,200 Speaker 1: who have been lost, and I think that so many 1763 01:29:01,240 --> 01:29:04,719 Speaker 1: people are still struggling to deal with that. And that's 1764 01:29:04,760 --> 01:29:07,599 Speaker 1: what I think is really consistent in all these interviews, right, 1765 01:29:07,720 --> 01:29:10,800 Speaker 1: is people were forced to confront their own mortality in 1766 01:29:10,840 --> 01:29:13,639 Speaker 1: a way that perhaps they never had before. That forced 1767 01:29:13,720 --> 01:29:15,439 Speaker 1: a lot of folks to ask, am I doing what 1768 01:29:15,479 --> 01:29:17,519 Speaker 1: I want to be doing with my life? Should I 1769 01:29:17,600 --> 01:29:20,719 Speaker 1: continue accepting being treated like crap at work? Right? Should 1770 01:29:20,720 --> 01:29:24,559 Speaker 1: I dream bigger than just you know, taking home enough 1771 01:29:24,600 --> 01:29:27,479 Speaker 1: with my paycheck to pay rent, a little bit of 1772 01:29:27,520 --> 01:29:30,800 Speaker 1: food and nothing more? Right? Is there more to life 1773 01:29:30,800 --> 01:29:32,960 Speaker 1: than this? Do I deserve more than this? And I 1774 01:29:33,000 --> 01:29:35,720 Speaker 1: think a lot of people, brave people, working people, have 1775 01:29:35,840 --> 01:29:38,920 Speaker 1: answered affirmatively, yes, we do, and I think that that 1776 01:29:39,120 --> 01:29:42,400 Speaker 1: is connected to the number of strikes we've seen, the 1777 01:29:42,920 --> 01:29:46,080 Speaker 1: mass amounts of people who have been quitting, people staying 1778 01:29:46,080 --> 01:29:49,719 Speaker 1: at their jobs and fighting organizing together to demand better 1779 01:29:49,800 --> 01:29:52,640 Speaker 1: working conditions, better pay, so on and so forth. But 1780 01:29:52,760 --> 01:29:55,360 Speaker 1: the last thing to that point that I think is 1781 01:29:55,400 --> 01:30:00,720 Speaker 1: really really important is the essential you know phrase. Right 1782 01:30:00,720 --> 01:30:03,120 Speaker 1: when that entered the lexicon, it did change I think 1783 01:30:03,160 --> 01:30:06,719 Speaker 1: a lot of people's minds because this system constantly tells 1784 01:30:06,760 --> 01:30:10,400 Speaker 1: us that we're worthless, right, that we're replaceable, yes, expendable, 1785 01:30:10,479 --> 01:30:13,800 Speaker 1: so on and so forth. COVID forced the hand of 1786 01:30:13,840 --> 01:30:16,600 Speaker 1: this rigged economy and so on and so forth to 1787 01:30:16,680 --> 01:30:19,679 Speaker 1: admit that it needs us, that it needs working people, 1788 01:30:19,680 --> 01:30:22,280 Speaker 1: and working people did not forget that. I think a 1789 01:30:22,280 --> 01:30:24,880 Speaker 1: lot of people did know that there were a lot 1790 01:30:24,960 --> 01:30:29,200 Speaker 1: of labor struggles that were ongoing before the pandemic ever happened. 1791 01:30:29,200 --> 01:30:31,000 Speaker 1: I think a lot of those are in the book. 1792 01:30:31,479 --> 01:30:35,120 Speaker 1: But COVID really amplified that. It accelerated the sort of 1793 01:30:35,200 --> 01:30:38,679 Speaker 1: processes that have screwed working people over for so many decades. 1794 01:30:38,720 --> 01:30:41,760 Speaker 1: But it also gave people a sense of how invaluable 1795 01:30:41,800 --> 01:30:44,720 Speaker 1: they are to that system. And I think it made 1796 01:30:44,760 --> 01:30:48,240 Speaker 1: people realize that this system values our labor is essential, 1797 01:30:48,240 --> 01:30:50,759 Speaker 1: but not our lives. And so we're seeing a struggle 1798 01:30:50,800 --> 01:30:54,120 Speaker 1: right now between that well, because if you're acknowledging that 1799 01:30:54,200 --> 01:30:57,880 Speaker 1: these are essential individuals at least you know that their 1800 01:30:57,920 --> 01:31:01,960 Speaker 1: work is essential, then you start to realize, oh, they 1801 01:31:01,960 --> 01:31:04,720 Speaker 1: actually need us, like this place is not this place 1802 01:31:04,760 --> 01:31:07,680 Speaker 1: has fallen apart without us showing up and doing our 1803 01:31:07,720 --> 01:31:09,560 Speaker 1: thing day in and day out. And I think it 1804 01:31:09,640 --> 01:31:11,920 Speaker 1: might have been you that I stole this from, but 1805 01:31:12,400 --> 01:31:14,559 Speaker 1: I saw a quote from somebody that was, like, you know, 1806 01:31:14,600 --> 01:31:17,240 Speaker 1: it's really quite clarifying when you realize your boss will 1807 01:31:17,280 --> 01:31:20,559 Speaker 1: literally sacrifice your life for like a few extra dollars 1808 01:31:20,600 --> 01:31:24,880 Speaker 1: in profit, kind of changes your orientation towards the workplace 1809 01:31:24,920 --> 01:31:27,439 Speaker 1: and towards the job that you're ultimately doing. And so 1810 01:31:27,520 --> 01:31:32,240 Speaker 1: I agree with you that that sort of philosophical realignment 1811 01:31:32,280 --> 01:31:35,439 Speaker 1: and realization that came out of the pandemic is really 1812 01:31:35,479 --> 01:31:38,280 Speaker 1: at the core of a lot of the labor movement 1813 01:31:38,360 --> 01:31:39,760 Speaker 1: energy that we're seeing now. I mean, you see with 1814 01:31:39,840 --> 01:31:43,840 Speaker 1: Chris Mall's it directly comes down of he was organizing 1815 01:31:43,920 --> 01:31:48,559 Speaker 1: his workers in protesting his colleagues in protesting the fact 1816 01:31:48,600 --> 01:31:51,000 Speaker 1: that there were not sufficient COVID protections, and Amazon was 1817 01:31:51,000 --> 01:31:53,160 Speaker 1: straight up lying to them about what was going on 1818 01:31:53,200 --> 01:31:55,800 Speaker 1: in those warehouses, and that was the start of him 1819 01:31:55,840 --> 01:31:58,479 Speaker 1: just being you know, guys showing up and doing his thing, 1820 01:31:58,840 --> 01:32:00,920 Speaker 1: to being one of the foremost the most important labor 1821 01:32:01,000 --> 01:32:04,240 Speaker 1: leaders that certainly we've seen in our lifetime. What I'm 1822 01:32:04,280 --> 01:32:08,759 Speaker 1: wondering is if there was a similar awareness that happened 1823 01:32:08,800 --> 01:32:14,200 Speaker 1: among more like white collar, more affluent individuals, Because while 1824 01:32:14,240 --> 01:32:17,519 Speaker 1: certainly the elites didn't really mean the language about essential workers, 1825 01:32:17,880 --> 01:32:20,040 Speaker 1: there were a lot of Americans who really took this 1826 01:32:20,200 --> 01:32:23,800 Speaker 1: in and really did start to realize the contribution that 1827 01:32:23,840 --> 01:32:26,280 Speaker 1: people were making to make their lives easier on a 1828 01:32:26,320 --> 01:32:29,680 Speaker 1: day to day basis. And there was also a significant 1829 01:32:29,800 --> 01:32:32,320 Speaker 1: rise in the sort of visibility of this work, Like 1830 01:32:32,360 --> 01:32:35,200 Speaker 1: you started to think about the person who was delivering 1831 01:32:35,240 --> 01:32:36,920 Speaker 1: your packages in a way that I think a lot 1832 01:32:36,960 --> 01:32:39,559 Speaker 1: of people didn't before, or who were in the warehouse 1833 01:32:39,600 --> 01:32:42,440 Speaker 1: that you don't even see who were packing those packages 1834 01:32:42,479 --> 01:32:46,200 Speaker 1: and you know, picking and sorting. Do you think that 1835 01:32:46,200 --> 01:32:49,640 Speaker 1: that has shifted the landscape in terms of the public's 1836 01:32:49,680 --> 01:32:55,080 Speaker 1: reception to this labor movement increase energy, I think it has. 1837 01:32:55,280 --> 01:32:56,800 Speaker 1: I mean I think, you know, we can have a 1838 01:32:57,360 --> 01:32:59,800 Speaker 1: have a larger philosophical kind of take on this. But 1839 01:32:59,840 --> 01:33:03,320 Speaker 1: in many ways, labor in this capitalist system is meant 1840 01:33:03,320 --> 01:33:06,880 Speaker 1: to be invisibilized, right, It's meant to be As consumers, 1841 01:33:06,880 --> 01:33:08,519 Speaker 1: we're not meant to see that, right, We're supposed to 1842 01:33:08,560 --> 01:33:10,879 Speaker 1: be given this sort of fantasy that goods and services 1843 01:33:10,920 --> 01:33:13,759 Speaker 1: are just ready for purchase at the point of sale, 1844 01:33:13,800 --> 01:33:17,519 Speaker 1: like we don't think about the people who have made 1845 01:33:17,600 --> 01:33:20,519 Speaker 1: those products, the people, the lives of the people providing 1846 01:33:20,560 --> 01:33:22,720 Speaker 1: those services. And that's something that has always been very 1847 01:33:22,760 --> 01:33:25,320 Speaker 1: important to me because I can still to this day 1848 01:33:25,400 --> 01:33:28,360 Speaker 1: walk into a bed bath and Beyond or a Jac Penn. 1849 01:33:28,360 --> 01:33:31,360 Speaker 1: Actually I don't think JAYC. Penny exists anymore, but it does, 1850 01:33:33,240 --> 01:33:38,720 Speaker 1: thank god. But I can still walk into these big 1851 01:33:38,760 --> 01:33:42,360 Speaker 1: box stores and I can see items that have been 1852 01:33:42,880 --> 01:33:46,599 Speaker 1: tagged and packed by the same people in the same 1853 01:33:46,640 --> 01:33:49,880 Speaker 1: warehouse that I was working at ten years ago, and 1854 01:33:49,920 --> 01:33:51,599 Speaker 1: I know what to look for. But if you're walking 1855 01:33:51,640 --> 01:33:53,880 Speaker 1: through those aisles as a customer, you don't see that. 1856 01:33:54,320 --> 01:33:57,760 Speaker 1: I think that COVID really did, like you said, make 1857 01:33:57,920 --> 01:34:01,759 Speaker 1: that visible in ways that you know, it never had before, 1858 01:34:01,800 --> 01:34:05,320 Speaker 1: the world never had before. Whether it was people delivering 1859 01:34:05,400 --> 01:34:09,080 Speaker 1: our groceries when we were too afraid to venture out ourselves, 1860 01:34:09,160 --> 01:34:12,040 Speaker 1: or we were immunal compromising, couldn't whether it was people 1861 01:34:12,120 --> 01:34:15,640 Speaker 1: taking care of our children or suddenly parents working and 1862 01:34:15,760 --> 01:34:18,720 Speaker 1: taking care of their children and helping them, you know, 1863 01:34:18,760 --> 01:34:23,439 Speaker 1: attend school virtually. There are just so many ways that 1864 01:34:23,479 --> 01:34:25,640 Speaker 1: we realized how much we need each other and how 1865 01:34:25,720 --> 01:34:27,599 Speaker 1: much we depend on each other, and how much it 1866 01:34:27,640 --> 01:34:31,120 Speaker 1: is flesh and blood, human beings holding the world up, 1867 01:34:31,160 --> 01:34:35,519 Speaker 1: not you know, you know company names and shadowy buildings, right, 1868 01:34:35,600 --> 01:34:38,439 Speaker 1: you know, it's people. It's always been people. It's people 1869 01:34:38,479 --> 01:34:40,360 Speaker 1: who took care of each other. It's people who made 1870 01:34:40,439 --> 01:34:44,559 Speaker 1: this better and less terrible than it could have been, 1871 01:34:45,120 --> 01:34:47,559 Speaker 1: even though it was I think pretty terrible. And so 1872 01:34:47,640 --> 01:34:51,200 Speaker 1: I hope that I've done justice to these workers in 1873 01:34:51,280 --> 01:34:55,519 Speaker 1: this book, and I just hope people read it all. Right. Lastly, Max, 1874 01:34:55,640 --> 01:34:57,960 Speaker 1: you're one of our partners, which were very grateful for 1875 01:34:58,040 --> 01:35:00,599 Speaker 1: and I think you're recording a monologue for for us today. 1876 01:35:00,640 --> 01:35:03,240 Speaker 1: What are you looking at for people to look forward to? Well, 1877 01:35:03,280 --> 01:35:07,320 Speaker 1: so I'm very excited. I mean it's a very terrible subject, 1878 01:35:07,320 --> 01:35:11,840 Speaker 1: but you covered the ups heat conditions that workers are 1879 01:35:11,960 --> 01:35:14,840 Speaker 1: enduring right now, and like, at no other outlet that 1880 01:35:14,840 --> 01:35:16,600 Speaker 1: I've worked for or worked with would I ever have 1881 01:35:16,720 --> 01:35:19,080 Speaker 1: to be concerned that a colleague was covering the same 1882 01:35:19,120 --> 01:35:21,759 Speaker 1: thing as I was when it has to do with workers. 1883 01:35:21,840 --> 01:35:24,800 Speaker 1: And so I'm like, I'm very grateful to you for that, 1884 01:35:24,840 --> 01:35:28,160 Speaker 1: because I'm basically recording a segment building off yours where 1885 01:35:28,200 --> 01:35:31,680 Speaker 1: I'm putting in big clips from three UPS workers that 1886 01:35:31,720 --> 01:35:33,880 Speaker 1: I interviewed on working people. And I think this is 1887 01:35:34,240 --> 01:35:37,240 Speaker 1: really important because you started your monologue and I'm mentioning 1888 01:35:37,240 --> 01:35:41,160 Speaker 1: in my monologue the death of Esteban Chavez Junior in California, 1889 01:35:41,200 --> 01:35:43,680 Speaker 1: a twenty four year old UPS driver who died the 1890 01:35:43,760 --> 01:35:47,839 Speaker 1: day after his birthday in suspected, you know, in suspicion 1891 01:35:47,880 --> 01:35:51,639 Speaker 1: of heat conditions. That's what his family suspects. Anyway, if 1892 01:35:51,640 --> 01:35:54,400 Speaker 1: you watch interviews with that man's father, you can see 1893 01:35:54,400 --> 01:35:56,960 Speaker 1: his heart breaking in real time as he says, I 1894 01:35:57,040 --> 01:35:59,120 Speaker 1: used to watch my son enter a room and I thought, 1895 01:35:59,200 --> 01:36:02,360 Speaker 1: that's my boy, right, and he starts crying on camera, 1896 01:36:02,439 --> 01:36:04,800 Speaker 1: and like, that's what I really want to emphasize for 1897 01:36:04,840 --> 01:36:08,880 Speaker 1: people who are watching this monologue or your monologue, my segment, 1898 01:36:09,000 --> 01:36:11,840 Speaker 1: or reading this book is you cannot measure the loss 1899 01:36:11,880 --> 01:36:14,559 Speaker 1: of a person's life, and so it's a real honor 1900 01:36:14,600 --> 01:36:17,840 Speaker 1: to be lifting that up with you on Breaking Yeah, well, 1901 01:36:17,840 --> 01:36:20,160 Speaker 1: I'm glad you're taking it because it is i mean, 1902 01:36:20,400 --> 01:36:23,280 Speaker 1: especially with the climate crisis getting worse and worse. This 1903 01:36:23,560 --> 01:36:28,240 Speaker 1: is you know, drivers, it's farm workers, it's factory workers, 1904 01:36:28,320 --> 01:36:32,599 Speaker 1: it's warehouse workers. These conditions are extremely dire and there's 1905 01:36:32,640 --> 01:36:34,720 Speaker 1: a huge I mean, this is a giant labor story too, 1906 01:36:35,120 --> 01:36:38,639 Speaker 1: because that UPS contract is up next year and they 1907 01:36:38,640 --> 01:36:42,599 Speaker 1: have been outright, very directly threatening to strike if they 1908 01:36:42,600 --> 01:36:44,479 Speaker 1: don't get a better contract than they did the last 1909 01:36:44,479 --> 01:36:47,759 Speaker 1: time around, so could affect literally everyone out there. Max's 1910 01:36:47,800 --> 01:36:50,000 Speaker 1: always a pleasure and honor to see you. Congrats on 1911 01:36:50,040 --> 01:36:52,400 Speaker 1: the book. Very excited for you. Thanks, Thanks guys, thanks 1912 01:36:52,400 --> 01:36:55,479 Speaker 1: for inviting me on to Breaking Points to do the 1913 01:36:55,560 --> 01:36:58,439 Speaker 1: labor segment. I really appreciate it. Eric Vera, it's the 1914 01:36:58,479 --> 01:37:00,720 Speaker 1: work of living working people talk about their lives and 1915 01:37:00,760 --> 01:37:03,479 Speaker 1: the year the world broke, Maximillion Alvarez get us down 1916 01:37:03,560 --> 01:37:06,240 Speaker 1: in the description and go ahead and watch Max's segment 1917 01:37:06,280 --> 01:37:08,800 Speaker 1: that we'll be posting Premium subscribers. Thank you so much, 1918 01:37:08,840 --> 01:37:11,240 Speaker 1: because you guys help enable Max's work as well as 1919 01:37:11,280 --> 01:37:13,680 Speaker 1: our ability to elevate these types of voices. If you 1920 01:37:13,680 --> 01:37:15,920 Speaker 1: can join us, we deeply appreciate it. Otherwise, we will 1921 01:37:15,920 --> 01:37:29,000 Speaker 1: see you all next week. Love you guys,