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Speaker 1: Hey, guys, Saga and Crystal here.

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Speaker 2: Independent media just played a truly massive role in this election,

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Speaker 2: and we are so excited about what that means for

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Speaker 3: We need your help to build the future of independent

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Speaker 3: news media and we hope to see you at Breakingpoints

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Speaker 3: dot com. Let's get to Germany, shall we, because there

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Speaker 3: were some fascinating elections that happen over there. Shall we

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Speaker 3: put this up there on the screen, the German election

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Speaker 3: official fried Okay, you want to help me with the pronunciation?

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Speaker 1: Is it Friedrich or Friedrich? I'm going to go for

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Speaker 1: I'm gonna go with Friedrich, all right, Friedrich Mertz.

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Speaker 3: The Germans are going to crucify me for this. It's

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Speaker 3: set to become Germany's next chancellor. According to the exit

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Speaker 3: polls and now the federal election results that we have learned.

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Speaker 3: So this is actually super interesting because there's a couple

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Speaker 3: of narrative things that are happening. You'll recall that jd

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Speaker 3: Vance and Elon Musk had been supporters and or meeting

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Speaker 3: with the AfD, the Alternative for Germany, the more right

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Speaker 3: wing party there that's very against immigration. This guy, Friedrich Mertz,

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Speaker 3: what I've read about him, he's kind of almost a

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Speaker 3: Washington type figure. He was in politics and then he

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Speaker 3: left to become a lobbyist, and then he came back

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Speaker 3: after he became filthy rich, almost in a Trump way,

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Speaker 3: where he's like, now I've made my money and what

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Speaker 3: I'm going to do is I'm going to save Germany

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Speaker 3: from the AfD.

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Speaker 1: That was really his goal.

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Speaker 3: His goal was to transform the center right party into

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Speaker 3: a party that could subsume the concerns around immigration and

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Speaker 3: around Ukraine, the economy, etc. Into his party and to

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Speaker 3: keep the AfD out of power. And that's kind of

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Speaker 3: what it seems the coalition government that he will form

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Speaker 3: is trying to do. At the same time, Before we

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Speaker 3: even get to all of that, the results themselves are

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Speaker 3: fascinating because it is a German basically affirmation of the

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Speaker 3: same trend across the continent and in my opinion here

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Speaker 3: in the United States too. Let's put this on the screen.

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Speaker 3: Friend Ryan Gridusky pointed out, if you look at this

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Speaker 3: election in Germany, the CDU is the second worst showing

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Speaker 3: in the party's history.

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Speaker 1: Right, That's what Mers's party is.

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Speaker 4: Those are the ones that.

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Speaker 2: Came in first but performed poorly compared to their history exactly.

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Speaker 3: SPD is the worst result for them since eighteen eighty seven.

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Speaker 3: The Greens just had their second best showing ever, the AfD,

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Speaker 3: the right wing party, just had their best showing ever,

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Speaker 3: and then the FDP is the second worst showing ever. Now,

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Speaker 3: in Americans speak, we can look at the Greens and

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Speaker 3: the AfD and say what you've got the left and

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Speaker 3: the right which are either their best or their second

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Speaker 3: best showing ever. Now that doesn't mean that they're going

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Speaker 3: to be in power, because what's happened is that the

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Speaker 3: cd who is going to form a coalition with an

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Speaker 3: alternative party to make sure the AfD doesn't have access

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Speaker 3: to those high government officials. But I still think that's

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Speaker 3: pretty important in terms of looking at the explosion of

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Speaker 3: support both for the Greens and for the AfD. And

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Speaker 3: in both you actually see similar forces that are here

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Speaker 3: in the United States and across the continent. So for example,

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Speaker 3: in France, where we saw the left wing Socialist Party

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Speaker 3: that did very well while the far right National Front

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Speaker 3: was doing very well. Macron is completely underseas right now.

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Speaker 3: We all know that whenever he leaves, whatever comes next,

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Speaker 3: it will not look like mister centrist that is over there.

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Speaker 3: This guy again, I don't want to claim that he's

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Speaker 3: right wing or any He's very pro NATO, is very

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Speaker 3: pro Ukraine. When he's conservative, he's conservative in the sense

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Speaker 3: that our George W. Bush types are. Was like, we

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Speaker 3: need to clean up the debt crisis over here. But

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Speaker 3: he's very much more willing to talk about immigration and

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Speaker 3: to change some of the immigration policy in Germany. He's

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Speaker 3: much more of like a stronger German, stronger Germany.

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Speaker 1: That will break away from the United States.

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Speaker 3: But do you want to win on that before I

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Speaker 3: go anymore, Just because I think that the surge of

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Speaker 3: AfD in the Greens is the most important story.

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Speaker 1: Out of this election.

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Speaker 2: The general orientation of the Students' Party is like immigration restrictionists,

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Speaker 2: but pro Ukraine. That's kind of the that's kind of

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Speaker 2: their thing, you know, just put the previous element just

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Speaker 2: back up.

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Speaker 4: On the screen.

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Speaker 2: There was one other thing that I wanted to note,

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Speaker 2: which will feed into the you know, conversation about like

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Speaker 2: the far right and the far left in terms of

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Speaker 2: the German election context.

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Speaker 4: BSW is interesting too.

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Speaker 2: So this is this break off party started by this

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Speaker 2: person who was previously part of the like far left

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Speaker 2: party and then position themselves as being like left on

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Speaker 2: most issues and less like pro Ukraine but pro immigration restriction.

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Speaker 2: So you could kind of put them also in the

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Speaker 2: bucket of these like far left and far right you

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Speaker 2: know upstarts, et cetera.

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Speaker 4: And then you know, with the AfD.

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Speaker 2: We'll show the map in just a minute, but there's

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Speaker 2: a huge geographic divide. I mean you look at these

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Speaker 2: maps and it's East and West Germany just like to

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Speaker 2: a te So that's you know, very interesting dynamic there

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Speaker 2: as well. And they performed basically where the polls had

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Speaker 2: them performing. So it doesn't seem like Elon or Jade

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Speaker 2: Vance's insertion into this election really particularly made a difference

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Speaker 2: in either Germans.

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Speaker 3: No, yeah, I mean that would look in general if

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Speaker 3: you're abroad and you're you know, voting because how Jadie.

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Speaker 1: Vance told you to what are you doing?

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Speaker 3: Like you should be voting based on how you think

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Speaker 3: for your own company.

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Speaker 2: Yeah, if it got funny, is sparked a little bit

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Speaker 2: of a backlash because they did not perform as high

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Speaker 2: as they had at some point in some polls. Anything,

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Speaker 2: there was a little bit of a backlash. But I mean,

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Speaker 2: I think the best you can say is it didn't

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Speaker 2: seem to make that much of.

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Speaker 1: A difference, nor should it. Why should it?

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Speaker 3: You know, it's like you got people should vote on

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Speaker 3: your own concerns. I'm not going to think what you

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Speaker 3: care about our elections if you look. Actually though, in

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Speaker 3: terms of the change since twenty twenty one, absolutely fascinating.

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Speaker 3: So the AfD has experienced a ten point four percent

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Speaker 3: increase in its vote share one and the Greens actually

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Speaker 3: lost a little bit but still had their second best

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Speaker 3: showing ever. The BSW, the CDU and the Left all

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Speaker 3: experienced modest Greens but it's really the decline of the SPD,

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Speaker 3: the centrist party, the center left liberal party, that is

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Speaker 3: the one that is most like the big headline out

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Speaker 3: of this election. But what you're watching is the basically

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Speaker 3: collapse of the center and Europe is grappling.

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Speaker 1: They're like, what are we doing here? And I think

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Speaker 1: that's really interesting.

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Speaker 3: So you pointed out that map, Why don't we put

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Speaker 3: that up there on the screen.

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Speaker 1: We'll go to the next part.

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Speaker 3: Please this one, by the way, keep in mind this

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Speaker 3: was apparently from the European elections European Parliament elections in

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Speaker 3: twenty twenty four, not for the Bundestag, but it still

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Speaker 3: still shows exactly what you're talking about. Yeah, the divide

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Speaker 3: between the two of East and West Germany. I am

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Speaker 3: not a scholar or anything. I did read a book

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Speaker 3: once which talked about this about how the basically about

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Speaker 3: how the reunification of Germany is one of the least

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Speaker 3: discussed like major political elements of political understanding in the West,

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Speaker 3: as in it really wasn't that long ago.

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Speaker 1: It was like thirty something years ago.

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Speaker 3: And the clear, stark economic differences between the two are

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Speaker 3: really important because it gets to the heart of industrialization,

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Speaker 3: being Western, how European you feel, how you feel about

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Speaker 3: Russia and Ukraine, communism and all of that. And yeah,

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Speaker 3: I mean you're talking about generations really of that were

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Speaker 3: split apart. So it does make sense as to how

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Speaker 3: that would be also economically, as I understand, it is

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Speaker 3: very very different in terms of how they fare even

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Speaker 3: today some thirty some years later, which again makes complete

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Speaker 3: sense if you were to split a country up for

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Speaker 3: decades and then just throw them back together under different

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Speaker 3: economic models. But it is manifesting itself very importantly politically.

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Speaker 3: That was actually a merkle ideological project before the mass

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Speaker 3: migration into Europe during the refugee crisis, and a lot

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Speaker 3: of Germans cent to write people blame her for kind

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Speaker 3: of splitting apart and opening up this can of works.

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Speaker 1: Fuck whatever it is.

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Speaker 3: It's been a decade long March, I think to where

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Speaker 3: we are right now least.

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Speaker 2: Yeah, and I mean the East West Germany thing is

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Speaker 2: really fascinating. I mean, Eastern Germany is more rural, less developed. Also,

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Speaker 2: I mean there was kind of a concerted effort from

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Speaker 2: the Allies to destroy some of the industrial base in

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Speaker 2: East Germany. You know, the bombing of Dresden was devastating

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Speaker 2: to the prospects the economic prospects of East Germany, et cetera.

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Speaker 4: And so yeah, you can see the.

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Speaker 2: Very long hangover both of World War Two and obviously

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Speaker 2: of the you know, reunification and how recently that is

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Speaker 2: in terms of history. So that certainly plays a huge

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Speaker 2: role here in terms of Germany. Part of what makes

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Speaker 2: this election so important and interesting is there are few

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Speaker 2: countries that were impacted by the Ukraine War as Germany.

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Speaker 2: You know, they really their economy really was quite reliant

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Speaker 2: on cheap gas from Russia, and so you know, without

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Speaker 2: that energy prices have risen significantly, huge cost of living issues.

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Speaker 4: So you've got that.

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Speaker 2: You have these longer term structural issues with the German

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Speaker 2: economy where they really kind of placed some of the

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Speaker 2: wrong bets. They did not get in on the technologies

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Speaker 2: of the future.

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Speaker 5: Right.

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Speaker 2: Germans are known for their like industrial production and for

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Speaker 2: their auto industry, and the auto industry really just stayed

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Speaker 2: set on gas powered cars, really kind of turned up

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Speaker 2: their nose at EV's and unlike here. You know, in Germany,

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Speaker 2: first of all, they were selling a lot of cars

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Speaker 2: into the Chinese market, and China now has their own burgeoning,

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Speaker 2: very successful auto industry, including the best evs in the

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Speaker 2: entire world, and so that's been a problem for Germany.

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Speaker 2: They really had been reliant on that Chinese market, and

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Speaker 2: so there were these longer term structural inabilities to adapt

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Speaker 2: to modern environment. Then you have the high energy prices,

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Speaker 2: so they're going through a de industrialization that's kind of

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Speaker 2: similar to you know what we went through post NAFTA

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Speaker 2: or post the permanent normal trading relations with China, and

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Speaker 2: that's putting an economic squeeze on. And then you layer

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Speaker 2: on top of that, I mean truly very very significant

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Speaker 2: levels of migration, quite a lot larger per capita than

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Speaker 2: even what we've experienced here where they're percent of the

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Speaker 2: foreign warn pulp population has gone up to twenty percent.

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Speaker 2: So you can see how all of these things. To

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Speaker 2: be honest with you, when you put all those factors together,

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Speaker 2: it's a wonder that AfD isn't actually outright gating. And

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Speaker 2: if it wasn't the fact that they're out there like

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Speaker 2: actively flirting with Nazi slogans and plotting some of them

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Speaker 2: to overthrow the government and all of these sorts of things,

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Speaker 2: they probably would be doing even better than they are

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Speaker 2: right now.

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Speaker 3: Yeah, I will say I think they have some I

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Speaker 3: feel complicated I guess about AfD in that they're a

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Speaker 3: little bit less like pro innovation. I guess if you would,

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Speaker 3: I would like for them to be, because it's like

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Speaker 3: you just said, they're very much focused on migration.

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Speaker 1: I think that's fine.

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Speaker 3: I think immigration is probably the most important issue for them.

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Speaker 3: But if you people want to be independent, you need

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Speaker 3: to make some shit. You need to stop being completely

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Speaker 3: reliant on us. That's my biggest problem is that they

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Speaker 3: really don't have any real vision for their own economy

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Speaker 3: or for basically how to reverse the managed decline of

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Speaker 3: the last forty years, which it turns out also this.

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Speaker 3: I just can't let this go. What you were talking

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Speaker 3: about with the Russian gas, the German miracle was fake.

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Speaker 3: It was entirely built on cheap gas from Russia. The

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Speaker 3: moment that that got turned off, they went into a

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Speaker 3: deep slide and their economy continues to contract. So let's

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Speaker 3: also put that with the problems that this new guy faces.

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Speaker 3: Put this up there, please on the screen. This is

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Speaker 3: C five, This statement here from the next prime minister.

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Speaker 3: He says, quote, I am communicating closely with a lot

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Speaker 3: of prime ministers and heads of state. This is Murr said,

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Speaker 3: heads of EU, and for me, it is an absolute

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Speaker 3: priority to strengthen Europe as quickly as possible so that

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Speaker 3: we achieve independence from the US step by step. I

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Speaker 3: never thought I would need to say something like this

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Speaker 3: on television, but after the latest statements made by Donald

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Speaker 3: Trump last week, it is clear that the Americans, at

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Speaker 3: any case, these Americans, this administration mostly don't care about

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Speaker 3: the future of Europe one way or the other. That's correct,

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Speaker 3: and so we wish you the best, mister Merse. I

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Speaker 3: wish you independence. I hope you guys do well. You

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Speaker 3: can take over the rest of the continent. It's not

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Speaker 3: like there's all that much for us that.

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Speaker 2: It seems to me to be the right that he's

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Speaker 2: thinking about things correctly.

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Speaker 1: Yeah, I completely agree. I go listen.

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Speaker 3: You have your own shit to deal with in terms

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Speaker 3: of your managed, declined economy, you have mass migration problems.

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Speaker 3: You are far you are less important to the United

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Speaker 3: States than you have ever been in Germany's entire history.

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Speaker 3: Why should we care about you and continue to underwrite

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Speaker 3: all of your security architecture and keep flying to the

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Speaker 3: Munich Security conference. Like you just said, the only reason

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Speaker 3: that we should have even cared about Germany previously was

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Speaker 3: for cars. Well, guess what now that China's a net

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Speaker 3: exporter of cars, they're eating the Germans lunch. Even in

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Speaker 3: their own economy, something like ten percent of cars and

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Speaker 3: erman have sold are from China. It's unbelievable. So they

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Speaker 3: have massive structural problems to think about. I think the

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Speaker 3: only joke that's going on here is that they continue

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Speaker 3: to try and rope US in because they know they

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Speaker 3: can't do anything without the backstop, according to them, of Americans.

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Speaker 3: This is where I wanted to get Ukraine in C four.

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Speaker 3: Please up on the screen. The European leaders are currently

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Speaker 3: drafting a quote peacekeeping plan for Ukraine, but American forces

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Speaker 3: have to serve as the backstop. Why because, according to them,

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Speaker 3: Russia would not Russia both would not be afraid enough

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Speaker 3: a French end of UK troops that are doing peacekeeping

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Speaker 3: in Ukraine. But more so, they literally don't have the

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Speaker 3: resources to even sustain thirty thousand troops in Ukraine without

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Speaker 3: the intelligence and support of the United States. So their

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Speaker 3: current plan, which I think is bullshit, is thirty thousand

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Speaker 3: European peacekeepers, no US soldiers directly on the ground, but

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Speaker 3: instead we basically pay for all of the support stuff

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Speaker 3: in Poland and on the NATO borders that's surround it.

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Speaker 3: So this apparently is something that probably falls in line

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Speaker 3: with this new German chancellor. It's unclear, just because the

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Speaker 3: guy is very pro Ukraine and apparently even wants to

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Speaker 3: send them more missiles, but at the same time has

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Speaker 3: not signed on necessarily to the Macron or the Kerestarmer proposal.

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Speaker 3: There's a lot still up in the air for whatever

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Speaker 3: happens with the Ukraine piece, that.

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Speaker 4: Is definitely the case.

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Speaker 2: I guess what I will say is that, you know,

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Speaker 2: for the Joe Biden's, the liberals of the world who

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Speaker 2: really push to back Ukraine, Okay, I'm actually okay with that,

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Speaker 2: but then push them to continue fighting and wanted this

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Speaker 2: war and actively thwarted the early stage peace negotiations that

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Speaker 2: could have come to, you know, some sort of resolution

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Speaker 2: so everyone could have moved forward with you know, and

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Speaker 2: avoiding the mass death and destruction that we've seen. You know,

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Speaker 2: for these liberals, they really have helped to provide the

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Speaker 2: impetus that has led to the rise of the AfD

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Speaker 2: and other far right parties in Europe. I mean, the

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Speaker 2: German example is I think really pretty clear cut, because

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Speaker 2: their energy prices and overall inflation were so impacted by Ukraine.

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Speaker 2: I mean, yes, COVID was part of it too, But Ukraine,

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Speaker 2: I think is a really undertold part of that story

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Speaker 2: because I think it's uncomfortable for liberal media that was

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Speaker 2: all in on.

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Speaker 4: This project as well.

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Speaker 2: But you know, the Ukraine War in terms of its

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Speaker 2: impact on Europe was significantly inflationary, really contributed to the

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Speaker 2: cost of living crisis, and really did help to give

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Speaker 2: fuel to parties like the AFT. The last thing, and

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Speaker 2: I'll note here in this again is some reporting from

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Speaker 2: drop site is they also took advantage of Israel's genocide

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Speaker 2: in Gaza. And the AfD is extremely pro Israel. They

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Speaker 2: have you know, been pushing for like the Germany is

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Speaker 2: a censorious place, and the place that it has been

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Speaker 2: most sincere is on any sort of pro Palestinian speech.

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Speaker 2: Francescalbanie was just there and like you know, they blocked

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Speaker 2: her event, and they're incredibly aggressive about effectively criminalizing any

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Speaker 2: pro Palestinian speech. And AfD has really seized on that

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Speaker 2: and been a part of this movement, and that has

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Speaker 2: also helped to bolster them. So all of these quote

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Speaker 2: unquote like liberal wars that Biden and other Biden is

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Speaker 2: really the primary actor here, because everybody was falling the

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Speaker 2: US's lead on this, have done nothing but to help

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Speaker 2: to further break down and bol the liberal order and

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Speaker 2: bolster the far right throughout Europe.

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Speaker 3: Yeah, it's completely their fault. I'll also tell you I'm

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Speaker 3: not going to let the Greens off the hook. The Greens,

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Speaker 3: it's my secondary thing. How are the Greens not winning

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Speaker 3: this election? That's the crazy thing, because the only reason

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Speaker 3: that they haven't exploded in popularity is that many Germans

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Speaker 3: are still pissed at them for being anti nuclear and

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Speaker 3: for the denuclearization of the country which led to this

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Speaker 3: explosion in reliance on Russian gas. So, Greens, if you're listening,

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Speaker 3: if you just if you had just reversed your policy

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Speaker 3: on nuclear or if you at least apologize come forward

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Speaker 3: and it asked for that, you could easily, I think

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Speaker 3: have won that.

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Speaker 1: Election because Germans are liberal.

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Speaker 3: I mean, look at them, are social attitudes, the way

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Speaker 3: that they think about the continent. Even yes on migration,

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Speaker 3: but they're way more permissive than even we are.

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Speaker 1: They're much more polite.

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Speaker 3: They're very, very into what you were saying, the censorious

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Speaker 3: that their post World War two censor stuff on.

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Speaker 1: The books is nuts.

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Speaker 3: That's another thing that annoys me about the AfD the

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Speaker 3: Israel stuff is that the laws on the books in

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Speaker 3: Germany today aren't basically meant to prevent, according to them,

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Speaker 3: the rise of any new Nazi party, but they use

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Speaker 3: it to basically ban anything that they deem socially unacceptable. Famously,

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Speaker 3: they would ban like Tom Cruise for scientology, stuff like that.

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Speaker 3: But the laws are just incredibly expansive and you can

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Speaker 3: use them against anything. So for example, they've been used

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Speaker 3: in the past against right wing activists and now they're

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Speaker 3: using me against these Palestine folks. But you know, to

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Speaker 3: cheer on being censorious or it's just you're leading to

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Speaker 3: your own destruction. That's what keeps the center alive in

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Speaker 3: Germany is a lot of the managing of media and

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Speaker 3: of public opinion. It's part of the reason why our

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Speaker 3: country is a lot more raucous. I think is that, yes,

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Speaker 3: even with all of our free speech problems and all

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Speaker 3: of that, it's still a way more free place than

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Speaker 3: most countries in Europe. We're allowed to have much more

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Speaker 3: raucous debates than anybody else.

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Speaker 2: All Right, someone on this show even, oh, yeah, that's

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Speaker 2: nothing compared to what if we were German, we would

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Speaker 2: be going at it.

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Speaker 1: I can't imagine.

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Speaker 4: I can't in that regard.

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Speaker 2: You know that the Brits, there's like the way their

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Speaker 2: interviewers are so aggressiveling is.

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Speaker 4: Hurt in the same way. Really I respect that.

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Speaker 1: You know, who's that guy from the BBC Andrew Something.

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Speaker 4: I know you're talking about it and he's good.

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Speaker 3: Yeah, the guy with the glasses and all that, and

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Speaker 3: he just he just gives it to you.

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Speaker 1: I love it.

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Speaker 2: I mean this is part of why Peers Morgan is

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Speaker 2: so successful because he yeah, he has these like they're

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Speaker 2: all calling each other names and like as much you're

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Speaker 2: a scumbag, you're a piece of shit, and then there's

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Speaker 2: just like invite them right back up the show again.

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Speaker 3: Let me just say that, as people know, I hate Europe.

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Speaker 3: But let me tell you this, the UK has the

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Speaker 3: best electoral system I think around because what happens when

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Speaker 3: you lose an election, what happens fuck off? You know

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Speaker 3: all these people, David Cameron, yeah, you get to big

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Speaker 3: comeback as you're little what he was like the secretary

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Speaker 3: whatever the Secretary of State is. But most of the

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Speaker 3: time Gordon Brown, fuck off. You know all these other

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Speaker 3: leaders if you lose an election, you're done. Most of

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Speaker 3: the time they completely recycle Liz Trust she's here in

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Speaker 3: Washington begging for attention at Sea Pack in London.

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Speaker 1: She's a joke. I love it.

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Speaker 4: It's the joke that we invite her here.

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Speaker 1: Yeah, you're right.

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Speaker 3: I love how when you lose there they get rid

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Speaker 3: of you. Most of the time they bring in a

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Speaker 3: new leader and they reinvent themselves as a party and

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Speaker 3: it works, and you know, you can have a vote

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Speaker 3: of no confidence, the government can fall like this.

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Speaker 1: They have elections all the time.

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Speaker 4: I love you.

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Speaker 2: I prefer the parliamentary I'm sure it has its drawbacks

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Speaker 2: as well, but yeah, I think it's.

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Speaker 4: I think it's better than what we got.

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Speaker 2: Speaking of electoral systems, Bernie Sanders, who is now eighty

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Speaker 2: three years old, has decided to do this series of

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Speaker 2: town halls about oligarchy in swing districts across the country,

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Speaker 2: and in particular, Bernie, unlike apparently any other Democrat, has

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Speaker 2: this idea that hey, you know, they're about to vote

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Speaker 2: on this budget that is supposed to massively cut medicaid

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Speaker 2: and give a giant tax cut to the rich. And

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Speaker 2: there's a very narrow margin that Republicans have in the House.

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Speaker 2: So if you can flip, if you can put pressure

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Speaker 2: on just a couple of swing district Republicans, then you

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Speaker 2: can block them from being able to successfully make those cuts.

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Speaker 2: So he has gone so far to Nebraska where Don

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Speaker 2: Bacon is the representative there in a relative swing district,

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Speaker 2: and also did a town hall in Iowa City, Iowa

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Speaker 2: as well. Turnout has been insane. Reception for him has

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Speaker 2: been insane, and we're about to show you a.

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Speaker 4: Little bit of this.

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Speaker 2: But in Iowa City, they actually had he had to

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Speaker 2: give three different speeches because they had two separate overflow

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Speaker 2: crowds that he had to go and speak to. So

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Speaker 2: let's take a look at a little bit of Bernie Sanders.

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Speaker 2: Here you can see him walking in this is Nebraska,

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Speaker 2: being escorted in by the Omaha Police. There you can

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Speaker 2: see the crowd, you know, huge room filled to the brim.

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Speaker 2: There are pictures of people waiting there outside for them.

440
00:21:30,960 --> 00:21:34,040
Speaker 2: I actually, back in twenty eighteen went to some of

441
00:21:34,080 --> 00:21:38,400
Speaker 2: these events that he did SUPPORTINGSUS various congressional candidates. This

442
00:21:38,480 --> 00:21:41,400
Speaker 2: is now in Iowa City, Iowa. That was the original

443
00:21:41,440 --> 00:21:45,080
Speaker 2: crowd in the auditorium this is overflowed overflow crowd, I

444
00:21:45,080 --> 00:21:48,400
Speaker 2: believe number one, where he goes and speaks to them

445
00:21:48,440 --> 00:21:51,520
Speaker 2: there as well, trying to motivate the crowd, and there

446
00:21:51,600 --> 00:21:54,320
Speaker 2: was another overflow crowd as well that he had to go.

447
00:21:54,440 --> 00:21:57,439
Speaker 2: So just a huge reception here for Bernie, which I

448
00:21:57,440 --> 00:21:59,960
Speaker 2: think speaks to the fact, I mean, first of all,

449
00:22:00,359 --> 00:22:05,000
Speaker 2: he has unlike most Democrats, he has an actual ideology.

450
00:22:05,359 --> 00:22:08,960
Speaker 2: He has an actual vision. It's something that's consistent and

451
00:22:09,080 --> 00:22:12,600
Speaker 2: coherent and makes sense, and he's got a strategy. And

452
00:22:12,800 --> 00:22:16,160
Speaker 2: the liberal Democratic base has really been just kind of

453
00:22:16,240 --> 00:22:21,000
Speaker 2: totally abandoned by their actual you know, leaders, whether in

454
00:22:21,040 --> 00:22:24,800
Speaker 2: the House or the Senate, who have been completely asleep

455
00:22:24,800 --> 00:22:28,120
Speaker 2: at the switch, have not shown anything like the energy

456
00:22:28,320 --> 00:22:31,239
Speaker 2: or the strategy of a Bernie Sanders. And you know,

457
00:22:31,280 --> 00:22:34,000
Speaker 2: this ties in also to just the level of energy

458
00:22:34,040 --> 00:22:36,920
Speaker 2: that is starting to build in terms of One of

459
00:22:36,920 --> 00:22:39,720
Speaker 2: the early things we tracked was thousands of calls into

460
00:22:40,400 --> 00:22:43,600
Speaker 2: Senators and members of Congress. Now you're starting to see

461
00:22:43,640 --> 00:22:47,240
Speaker 2: this huge response. Anytime any member of Congress does a

462
00:22:47,280 --> 00:22:49,879
Speaker 2: town hall, you see these droves of people turning up

463
00:22:49,880 --> 00:22:52,439
Speaker 2: who are very upset about what's going on with Trump

464
00:22:52,480 --> 00:22:55,359
Speaker 2: and Elon in particular, and then you also see this

465
00:22:55,520 --> 00:22:58,240
Speaker 2: energy and excitement around Bernie Sanders. I mean, in a

466
00:22:58,320 --> 00:23:00,800
Speaker 2: sense Sager like it's really a shame that he's so

467
00:23:00,840 --> 00:23:02,960
Speaker 2: old at this point, because this really is kind of

468
00:23:03,000 --> 00:23:05,720
Speaker 2: his moment because he's been proven right on so many

469
00:23:05,760 --> 00:23:08,600
Speaker 2: things in terms of his analysis of how you actually

470
00:23:08,960 --> 00:23:12,359
Speaker 2: combat trump Ism and actually offer an agenda that would

471
00:23:12,359 --> 00:23:13,040
Speaker 2: make sense to people.

472
00:23:13,160 --> 00:23:13,679
Speaker 6: Yeah, I don't know.

473
00:23:13,800 --> 00:23:16,200
Speaker 3: I mean, look, as people know, I think the only

474
00:23:16,240 --> 00:23:19,080
Speaker 3: Democrat politician I have the softest spot for is Bernie.

475
00:23:19,160 --> 00:23:22,720
Speaker 3: I still love him, I really do, and so I appreciate.

476
00:23:22,160 --> 00:23:24,320
Speaker 4: It's not Retten Democrats. So maybe yeah, fair enough.

477
00:23:25,000 --> 00:23:27,120
Speaker 3: I don't know what it is all those Bernie clips

478
00:23:27,119 --> 00:23:30,439
Speaker 3: from the nineties whenever he's just railing against corporate media

479
00:23:30,600 --> 00:23:33,240
Speaker 3: and him and Noam Chomsky, and I just I like them, though.

480
00:23:33,560 --> 00:23:35,679
Speaker 1: Yeah, I can't help. I can't help but like him.

481
00:23:35,760 --> 00:23:39,720
Speaker 3: But I guess my caution on all of this is

482
00:23:39,800 --> 00:23:43,040
Speaker 3: always just I wonder if we're looking a little too

483
00:23:43,119 --> 00:23:47,200
Speaker 3: closely for the Tea Party comparison, just because so much

484
00:23:47,320 --> 00:23:50,160
Speaker 3: of the Tea Party last time was not just organized

485
00:23:50,440 --> 00:23:52,720
Speaker 3: or not was the organic movement, but it was the

486
00:23:52,880 --> 00:23:56,480
Speaker 3: influx of billions of dollars from Koch Brothers and from

487
00:23:56,520 --> 00:23:58,480
Speaker 3: a lot of the freedom works and all of this.

488
00:23:58,640 --> 00:24:03,000
Speaker 3: There was an architecture in Washington waiting for the Tea Party.

489
00:24:03,040 --> 00:24:05,280
Speaker 3: They didn't know it, but they were waiting with all

490
00:24:05,280 --> 00:24:07,560
Speaker 3: of the dollars in the world to organize all this stuff.

491
00:24:07,720 --> 00:24:10,000
Speaker 1: Doesn't really exist on the liberal side. Like if you think.

492
00:24:09,840 --> 00:24:14,199
Speaker 3: About what liberal or what the liberal NGOs and all

493
00:24:14,200 --> 00:24:16,600
Speaker 3: those other people are the most concerned about, it's like

494
00:24:16,760 --> 00:24:20,639
Speaker 3: USAID funding transports. Like they're not ready for some oligarch

495
00:24:20,880 --> 00:24:23,160
Speaker 3: conversation because they would have to pay taxes, so they're

496
00:24:23,160 --> 00:24:25,879
Speaker 3: not ready to like get in on all of this.

497
00:24:25,960 --> 00:24:27,639
Speaker 3: And this is kind of what I think the issue

498
00:24:27,680 --> 00:24:31,560
Speaker 3: with the burnie movement here will be is that organic

499
00:24:31,600 --> 00:24:34,080
Speaker 3: anger is great. It can lead you to a midterm

500
00:24:34,119 --> 00:24:36,480
Speaker 3: and all that, but you need to be organized around

501
00:24:36,480 --> 00:24:38,320
Speaker 3: a real political wedge and project.

502
00:24:38,200 --> 00:24:39,600
Speaker 1: Give it to the Tea Party for what it is.

503
00:24:39,640 --> 00:24:43,360
Speaker 3: They hated one thing, Obama and they wanted what defund Obamacare.

504
00:24:43,440 --> 00:24:45,840
Speaker 3: That was like their number one thing. I don't see

505
00:24:45,920 --> 00:24:49,280
Speaker 3: yet anything other than stop Musk or you know, like

506
00:24:49,359 --> 00:24:52,720
Speaker 3: kind of like performatively protests, And it's just I'm getting

507
00:24:52,760 --> 00:24:55,880
Speaker 3: Occupy vibes off this as opposed to Tea Party, where

508
00:24:55,960 --> 00:24:57,480
Speaker 3: I mean, let's be honest, if you look at the

509
00:24:57,480 --> 00:25:02,000
Speaker 3: political effectiveness of those two things, Occupied basically didn't do anything,

510
00:25:02,359 --> 00:25:05,560
Speaker 3: whereas the Tea Party, again not a huge supporter of

511
00:25:05,600 --> 00:25:07,760
Speaker 3: them or whatever, but they really did. They were able

512
00:25:07,800 --> 00:25:10,240
Speaker 3: to take over the Republican Party. They were able to

513
00:25:10,280 --> 00:25:12,000
Speaker 3: you know, shut down the government if they wanted to

514
00:25:12,560 --> 00:25:13,920
Speaker 3: basically kick out John Bayinner.

515
00:25:14,000 --> 00:25:16,159
Speaker 1: I mean, they had real scalps behind.

516
00:25:15,880 --> 00:25:19,639
Speaker 2: Their true And I think those points are well taken,

517
00:25:19,760 --> 00:25:23,920
Speaker 2: especially in terms of the organization piece, because people want

518
00:25:23,960 --> 00:25:27,359
Speaker 2: to pretend like the Tea Party was just an organic movements.

519
00:25:28,080 --> 00:25:30,240
Speaker 1: There was about the big stuff on the right.

520
00:25:30,160 --> 00:25:33,000
Speaker 2: And there were people there, and there was an architecture

521
00:25:33,000 --> 00:25:37,199
Speaker 2: there to marshal that organic energy. And I mean, I

522
00:25:37,400 --> 00:25:39,240
Speaker 2: you know, I was running for Congress in twenty ten.

523
00:25:39,359 --> 00:25:41,560
Speaker 2: I went to My policy was I would go and

524
00:25:41,600 --> 00:25:43,520
Speaker 2: speak to any group that invited me that was in

525
00:25:43,520 --> 00:25:45,440
Speaker 2: my district. I went to a bunch of these Tea

526
00:25:45,480 --> 00:25:47,720
Speaker 2: Party town alls. So I saw it very up close,

527
00:25:48,280 --> 00:25:50,960
Speaker 2: and you know, these people were not like paid operatives.

528
00:25:51,200 --> 00:25:55,200
Speaker 2: They were genuinely motivated. Now were they all partisan Republicans?

529
00:25:55,240 --> 00:25:57,640
Speaker 2: Who were super activated. Yes, by and large that's who

530
00:25:57,680 --> 00:25:59,680
Speaker 2: they were. And you know, by and large that's what

531
00:25:59,680 --> 00:26:02,280
Speaker 2: we're talking talking about here too, are people who are

532
00:26:02,359 --> 00:26:07,560
Speaker 2: already active partisan Democrats, but who are now activated in

533
00:26:07,600 --> 00:26:10,760
Speaker 2: a way that they weren't previously. I will say, I

534
00:26:10,760 --> 00:26:13,000
Speaker 2: think you're giving the Tea Party a little bit too

535
00:26:13,080 --> 00:26:19,480
Speaker 2: much credit for being ideologically consistent, because ultimately the energy

536
00:26:19,600 --> 00:26:21,600
Speaker 2: of the Tea Party, and this is something Emily talks

537
00:26:21,600 --> 00:26:24,159
Speaker 2: about too, The energy of the Tea Party, which was

538
00:26:24,359 --> 00:26:27,320
Speaker 2: just sort of like we hate Obama, right and ends

539
00:26:27,400 --> 00:26:30,080
Speaker 2: up being oh, you know, we're for austerity, we're for

540
00:26:30,520 --> 00:26:35,520
Speaker 2: smaller government, etc. Ultimately really morphs into the Trump movement,

541
00:26:35,760 --> 00:26:38,040
Speaker 2: which was not those things. You know, was just about

542
00:26:38,080 --> 00:26:40,720
Speaker 2: overturning the apple cart. And I mean you can look

543
00:26:40,720 --> 00:26:42,320
Speaker 2: at the den and the deficit under the first Drump

544
00:26:42,320 --> 00:26:46,800
Speaker 2: administration absolutely explodes. So I think it was a little

545
00:26:46,800 --> 00:26:50,120
Speaker 2: bit more in co eight inter ideologically than maybe you're

546
00:26:50,119 --> 00:26:50,800
Speaker 2: giving it credit for.

547
00:26:51,160 --> 00:26:53,199
Speaker 3: No, You're absolutely right. What I'm talking about are the

548
00:26:53,200 --> 00:26:56,160
Speaker 3: freedom works peep. They're elected representatives, does it make sense?

549
00:26:56,200 --> 00:26:59,399
Speaker 3: So not necessarily the voters, but like people like Jim Jordan,

550
00:26:59,440 --> 00:27:01,760
Speaker 3: who to this day is what this guy is just

551
00:27:01,840 --> 00:27:05,080
Speaker 3: like a big tex shill, I mean on the Oversight Committee.

552
00:27:05,119 --> 00:27:07,359
Speaker 3: He actually is a real libertarian and a lot of

553
00:27:07,359 --> 00:27:10,119
Speaker 3: the people they elected, unfortunately in my opinion, believed a

554
00:27:10,160 --> 00:27:12,480
Speaker 3: lot of their own bullshit whenever it came to.

555
00:27:12,640 --> 00:27:15,560
Speaker 1: Tax yeah or whatever. Not the vote the voters are

556
00:27:15,600 --> 00:27:16,040
Speaker 1: very different.

557
00:27:16,080 --> 00:27:18,679
Speaker 2: They're also you know, not near I mean, they have

558
00:27:19,080 --> 00:27:21,200
Speaker 2: done a good job of flexing their power when they've had,

559
00:27:21,359 --> 00:27:24,640
Speaker 2: you know, opportunities to do so. But they also now

560
00:27:24,680 --> 00:27:27,280
Speaker 2: they bend the need to Trump like it's Trump's party, yes,

561
00:27:27,480 --> 00:27:30,000
Speaker 2: and so those people are very much secondary. We could

562
00:27:30,000 --> 00:27:31,679
Speaker 2: see the way that that all went down with the

563
00:27:31,680 --> 00:27:33,280
Speaker 2: budget fight at the beginning of the year.

564
00:27:33,520 --> 00:27:35,240
Speaker 4: And once Musk.

565
00:27:35,080 --> 00:27:37,960
Speaker 2: And Trump were like, this is our budget deal, They're like, yes,

566
00:27:38,000 --> 00:27:40,880
Speaker 2: they're no problem. We'll you know, we'll go along with it.

567
00:27:40,960 --> 00:27:44,040
Speaker 2: And so in any case, you know, also with regard

568
00:27:44,119 --> 00:27:47,639
Speaker 2: to Occupy, it's not like Occupy just fizzled out and

569
00:27:47,680 --> 00:27:52,159
Speaker 2: went nowhere. Occupy actively mohrphs into the Bernie Sanders movement,

570
00:27:52,280 --> 00:27:53,680
Speaker 2: like that's where that energy went.

571
00:27:53,800 --> 00:27:54,440
Speaker 4: And some of the.

572
00:27:54,440 --> 00:27:57,520
Speaker 2: Organizers from Occupy are actively involved in the early phases

573
00:27:57,960 --> 00:28:00,919
Speaker 2: of recruiting Bernie Sanders into the twenty sixteen campaign and

574
00:28:01,000 --> 00:28:04,280
Speaker 2: of being involved in the Bernie Sanders campaign. So I

575
00:28:04,280 --> 00:28:08,679
Speaker 2: mean it did result in this large rebirth of a

576
00:28:08,760 --> 00:28:11,800
Speaker 2: left wing movement that just did not really exist in

577
00:28:11,840 --> 00:28:15,000
Speaker 2: America at that point. So, you know, were they able

578
00:28:15,040 --> 00:28:17,480
Speaker 2: to take over the Democratic Party the way that Trump

579
00:28:17,520 --> 00:28:18,920
Speaker 2: was able to take over the Republican Party.

580
00:28:18,960 --> 00:28:19,560
Speaker 4: No, they were not.

581
00:28:19,560 --> 00:28:23,000
Speaker 2: Able to succeed in that. But you know, it didn't

582
00:28:23,080 --> 00:28:25,800
Speaker 2: just fizzle out and go nowhere. It did create this large,

583
00:28:25,800 --> 00:28:29,479
Speaker 2: significant movement. And I think what Bernie is trying to

584
00:28:29,560 --> 00:28:33,359
Speaker 2: do and what there is an opening for right now

585
00:28:33,560 --> 00:28:36,080
Speaker 2: and which you're seeing in the growth like the channels

586
00:28:36,080 --> 00:28:39,120
Speaker 2: that are growing et cetera online in the flight from msmbc,

587
00:28:39,240 --> 00:28:42,360
Speaker 2: et cetera, is that you have liberals who are much

588
00:28:42,400 --> 00:28:46,880
Speaker 2: more open to a Bernie style message than they were

589
00:28:47,000 --> 00:28:52,600
Speaker 2: previously and who are deeply disgusted with the liberal torch

590
00:28:52,680 --> 00:28:57,760
Speaker 2: carriers of the like you know, traditional democratic establishment. That

591
00:28:57,920 --> 00:29:00,320
Speaker 2: is what is so different this time from last where

592
00:29:00,320 --> 00:29:03,400
Speaker 2: that goes as a total open question. But you have

593
00:29:03,480 --> 00:29:06,720
Speaker 2: some seventy percent of the Democratic base, like you people

594
00:29:06,800 --> 00:29:10,600
Speaker 2: are not fighting against Trump hard enough. And again that

595
00:29:10,880 --> 00:29:16,120
Speaker 2: is much more like the numbers under during when the

596
00:29:16,160 --> 00:29:18,880
Speaker 2: Tea Party was formed and they were disgusted with Republican

597
00:29:19,320 --> 00:29:23,760
Speaker 2: establishment leadership, and Republican establishment leadership was underwater even with

598
00:29:23,840 --> 00:29:26,160
Speaker 2: the Republican base. You now have that dynamic on the

599
00:29:26,200 --> 00:29:30,240
Speaker 2: Democratic side. So obviously there's no guarantees, but a lot

600
00:29:30,280 --> 00:29:33,840
Speaker 2: of the ingredients are there, A possibility is there that

601
00:29:33,880 --> 00:29:36,960
Speaker 2: did not exist in the first Trump administration. And you

602
00:29:37,040 --> 00:29:39,680
Speaker 2: even have people like near A Tandon, who, of course,

603
00:29:39,680 --> 00:29:41,760
Speaker 2: now that Bernie's million years old and will never run

604
00:29:41,800 --> 00:29:43,440
Speaker 2: for president again, it's safe for her to say, but

605
00:29:43,480 --> 00:29:46,480
Speaker 2: it's like lauding Bernie for going out and making his

606
00:29:46,560 --> 00:29:47,480
Speaker 2: case with regard to Olim.

607
00:29:47,560 --> 00:29:50,280
Speaker 3: Yeah, I don't disagree with a lot of this. I

608
00:29:50,280 --> 00:29:53,480
Speaker 3: guess it just comes back to effectiveness and what you're

609
00:29:53,600 --> 00:29:57,400
Speaker 3: trying to accomplish. Because can we play the clip of

610
00:29:57,440 --> 00:29:59,600
Speaker 3: the guy asking them to get arrested, because.

611
00:29:59,360 --> 00:30:00,720
Speaker 1: That's import Yeah.

612
00:30:00,720 --> 00:30:03,480
Speaker 3: I think a lot of liberal activism is deeply performative

613
00:30:03,560 --> 00:30:07,120
Speaker 3: and again rooted in their like genuine desire to just

614
00:30:07,160 --> 00:30:10,200
Speaker 3: recreate the nineteen sixties, which if you can go back

615
00:30:10,200 --> 00:30:13,680
Speaker 3: and read all of our debates about whether protests and

616
00:30:13,720 --> 00:30:15,680
Speaker 3: all of that is even effective or not. But let's

617
00:30:15,680 --> 00:30:18,000
Speaker 3: play it just because that, to me is the beating

618
00:30:18,040 --> 00:30:18,760
Speaker 3: heart of liberalism.

619
00:30:18,840 --> 00:30:22,160
Speaker 2: So this is we have two clips put together here.

620
00:30:22,320 --> 00:30:24,120
Speaker 2: The first one is the one so I referring to,

621
00:30:24,600 --> 00:30:28,320
Speaker 2: which is a Democratic representative I think it's New York's

622
00:30:28,360 --> 00:30:31,800
Speaker 2: twenty second congressional district or something like that, who hosted

623
00:30:31,800 --> 00:30:35,560
Speaker 2: a town hall, has this huge crowd and people very energized,

624
00:30:35,600 --> 00:30:37,520
Speaker 2: and one gentleman stands up in this clip pink kind

625
00:30:37,520 --> 00:30:40,200
Speaker 2: of viral. And then there's also a clip from a

626
00:30:40,480 --> 00:30:45,160
Speaker 2: Wisconsin Republican town hall where you see people there, you know,

627
00:30:45,320 --> 00:30:48,200
Speaker 2: flooding in who are very unhappy with this individual and

628
00:30:48,240 --> 00:30:48,560
Speaker 2: what he.

629
00:30:48,560 --> 00:30:50,160
Speaker 4: Has to say. So let's play both of those.

630
00:30:50,600 --> 00:31:00,320
Speaker 7: I'm so proud that unrepresentatives on the front line about

631
00:31:00,400 --> 00:31:03,240
Speaker 7: John Lewis. And I know what John Lewis would have done.

632
00:31:03,520 --> 00:31:10,080
Speaker 7: He would have gotten arrested that day.

633
00:31:10,080 --> 00:31:25,719
Speaker 5: Like you, President Trump positioned a lot of executive orders.

634
00:31:26,320 --> 00:31:29,959
Speaker 5: I think, by a marginess is being very quickly compared

635
00:31:29,960 --> 00:31:34,200
Speaker 5: to other administrations. And I think across the board he's

636
00:31:34,200 --> 00:31:44,880
Speaker 5: done some very good things. I think he's gotten rid

637
00:31:44,880 --> 00:31:46,960
Speaker 5: of birthright citizenship.

638
00:31:52,080 --> 00:31:52,760
Speaker 1: All.

639
00:31:53,480 --> 00:31:55,240
Speaker 3: I think the reason I wanted to play that is,

640
00:31:55,280 --> 00:31:57,800
Speaker 3: and I'm sure you'll disagree with this is I just don't.

641
00:31:57,960 --> 00:32:00,880
Speaker 3: I don't understand this like fetish eye of you need

642
00:32:00,920 --> 00:32:03,560
Speaker 3: to go and get arrested by standing in the door

643
00:32:03,600 --> 00:32:05,640
Speaker 3: of the Department of Education, and it's like you're not

644
00:32:05,800 --> 00:32:06,720
Speaker 3: doing anything.

645
00:32:06,840 --> 00:32:08,120
Speaker 1: I mean, I understand.

646
00:32:08,160 --> 00:32:10,480
Speaker 3: It might feel good, it might look good, I guess,

647
00:32:10,560 --> 00:32:13,040
Speaker 3: but it's one of those where there just seems to

648
00:32:13,080 --> 00:32:15,200
Speaker 3: be this desire. They're like, we need to stand up

649
00:32:15,560 --> 00:32:19,000
Speaker 3: against Elon and that will definitely manifest in the midterms,

650
00:32:19,120 --> 00:32:20,640
Speaker 3: no question about it.

651
00:32:20,680 --> 00:32:22,440
Speaker 1: But it's like, to what end?

652
00:32:22,480 --> 00:32:26,040
Speaker 3: And that's why again I respect Bernie because Bernie has

653
00:32:26,080 --> 00:32:28,040
Speaker 3: a plan. Like you could say whatever else you want

654
00:32:28,040 --> 00:32:31,200
Speaker 3: about the guy, the guy has some pretty consistent beliefs

655
00:32:31,240 --> 00:32:32,360
Speaker 3: across the hell, like.

656
00:32:32,400 --> 00:32:34,280
Speaker 1: The overwhelming arc of his life.

657
00:32:34,360 --> 00:32:37,000
Speaker 3: But if you look at the Democratic Party today, and

658
00:32:37,000 --> 00:32:39,400
Speaker 3: we talk a lot about this with the constituency and

659
00:32:39,480 --> 00:32:42,000
Speaker 3: all of that, how can you be anti oligarchy when

660
00:32:42,000 --> 00:32:44,160
Speaker 3: the vast majority of rich people in this country are

661
00:32:44,200 --> 00:32:46,600
Speaker 3: just liberals like our people who and I'm talking about

662
00:32:46,640 --> 00:32:49,200
Speaker 3: even the super rich, like yes, many billionaires supported Trump,

663
00:32:49,240 --> 00:32:51,960
Speaker 3: the vast majority supported Kamala right, or if you look

664
00:32:51,960 --> 00:32:54,960
Speaker 3: at the NGOs and the Democratic architecture, the hr class,

665
00:32:55,000 --> 00:32:58,200
Speaker 3: the DEI stuff. Like all of those people are much

666
00:32:58,280 --> 00:33:00,840
Speaker 3: are just like much more engaged in culture war as

667
00:33:00,840 --> 00:33:03,240
Speaker 3: opposed to a Bernie plan, and they would of course

668
00:33:03,360 --> 00:33:06,080
Speaker 3: love to see somebody stand in the doe in the.

669
00:33:06,120 --> 00:33:06,640
Speaker 1: In the doors.

670
00:33:06,640 --> 00:33:09,280
Speaker 3: But like once they're in power and they're selling to people,

671
00:33:09,680 --> 00:33:12,120
Speaker 3: I'm just not sure I see it in the same

672
00:33:12,200 --> 00:33:14,800
Speaker 3: successful movement. Not saying it can't succeed in the midterms

673
00:33:15,040 --> 00:33:18,480
Speaker 3: at all, I'm just I don't see like the Bernie energy.

674
00:33:18,520 --> 00:33:21,280
Speaker 3: Like I was just on Midas Touches YouTube channel number

675
00:33:21,320 --> 00:33:23,440
Speaker 3: one podcast in the country, by the way, it's all

676
00:33:23,520 --> 00:33:25,959
Speaker 3: just like anti Trump shit posting. Mostly it's just like

677
00:33:26,160 --> 00:33:30,520
Speaker 3: Drump humiliates himself yesterday. I'm like, okay, I mean, what

678
00:33:30,560 --> 00:33:31,160
Speaker 3: are we doing here?

679
00:33:31,360 --> 00:33:34,959
Speaker 1: He did huh Okay, I mean fine, look, I mean

680
00:33:34,960 --> 00:33:38,680
Speaker 1: it's just like they're just like, oh, Drump is so bad.

681
00:33:39,000 --> 00:33:43,480
Speaker 2: But that's why Bernie being the really he is the

682
00:33:43,560 --> 00:33:45,760
Speaker 2: leader of the Democratic Party at this point in time,

683
00:33:45,800 --> 00:33:48,760
Speaker 2: because no one else is filling the void. That's why

684
00:33:48,800 --> 00:33:51,920
Speaker 2: that is so important, because you're right, you know, you

685
00:33:52,000 --> 00:33:55,280
Speaker 2: have liberals who are well intentioned, who are disgusted with

686
00:33:55,320 --> 00:33:59,240
Speaker 2: their leadership. They're you know, disgusted with like Joe Amiko

687
00:33:59,360 --> 00:34:01,680
Speaker 2: run Amsmi. See, they're disgusted with the Washington Post, they're

688
00:34:01,720 --> 00:34:04,920
Speaker 2: disgusted with the New York Times, and they need some

689
00:34:05,120 --> 00:34:10,239
Speaker 2: direction of like how do you effectively like marshal some

690
00:34:10,280 --> 00:34:13,000
Speaker 2: sort of movement and in what kind of a direction?

691
00:34:13,600 --> 00:34:16,640
Speaker 2: And so yes, that's why it matters to have Bernie

692
00:34:16,680 --> 00:34:19,840
Speaker 2: out there, Like the problem is oligarchy. Here's the plan,

693
00:34:20,120 --> 00:34:22,400
Speaker 2: here's the agenda. Here's how we're going to block the

694
00:34:22,440 --> 00:34:24,560
Speaker 2: cuts to medicaid, Here's how we're going to block the

695
00:34:24,560 --> 00:34:26,920
Speaker 2: tax cuts to the rich. This is what we're you know,

696
00:34:27,000 --> 00:34:29,040
Speaker 2: this is what we're going to go out and try

697
00:34:29,040 --> 00:34:32,759
Speaker 2: to accomplish. Because there does need to be some marshaling

698
00:34:32,840 --> 00:34:36,239
Speaker 2: and coherence added to this movement. There's there's no doubt

699
00:34:36,280 --> 00:34:39,279
Speaker 2: about that. But you know what I will say is

700
00:34:39,680 --> 00:34:43,359
Speaker 2: again the opening is just different than it ever has been.

701
00:34:43,480 --> 00:34:46,160
Speaker 2: And there's just no doubt about that. The fact that

702
00:34:46,280 --> 00:34:49,880
Speaker 2: King Jefferies, they the liberals hates this guy. They hate him,

703
00:34:49,880 --> 00:34:52,640
Speaker 2: they're disgusted with him. And so when you see that

704
00:34:52,719 --> 00:34:54,919
Speaker 2: clip of this man who's standing up, who's like, great

705
00:34:54,960 --> 00:34:56,839
Speaker 2: that you were the Department of Education. But next time,

706
00:34:56,880 --> 00:34:58,919
Speaker 2: like get arrested, We'll have your back, will be there.

707
00:34:59,680 --> 00:35:03,480
Speaker 2: I think it would be a mistake to like overanalyze, like, oh, well,

708
00:35:03,480 --> 00:35:07,120
Speaker 2: will that particular tactic be successful. I think it's more

709
00:35:07,400 --> 00:35:11,839
Speaker 2: that they feel so abandoned by the fact that this

710
00:35:11,960 --> 00:35:15,120
Speaker 2: party which made the case Donald Trump is an authoritarian,

711
00:35:15,320 --> 00:35:18,359
Speaker 2: Donald Trump is a fascist. Now he's in there and

712
00:35:18,480 --> 00:35:21,040
Speaker 2: his party is going to seapack and doing you know,

713
00:35:21,120 --> 00:35:24,640
Speaker 2: sighaile over and over again. He's saying, they're and out

714
00:35:24,680 --> 00:35:27,320
Speaker 2: there making the case like Trump is the living embodiment

715
00:35:27,400 --> 00:35:32,560
Speaker 2: of the Constitution. He's saying, effectively, lestat semi right, I

716
00:35:32,680 --> 00:35:35,319
Speaker 2: am the law. I can't violate the law if I'm

717
00:35:35,360 --> 00:35:38,799
Speaker 2: in the context of saving the country. Elon is consolidating

718
00:35:38,880 --> 00:35:43,399
Speaker 2: power in this brazen, naked self dealing way. Like all

719
00:35:43,440 --> 00:35:46,640
Speaker 2: the things they've warned about that the Democratic Party warned about,

720
00:35:46,719 --> 00:35:47,440
Speaker 2: they're happening.

721
00:35:47,560 --> 00:35:49,480
Speaker 4: They're here, and you've.

722
00:35:49,320 --> 00:35:53,080
Speaker 2: Got, you know, a bunch of listless, no nothing leaders

723
00:35:53,320 --> 00:35:55,399
Speaker 2: who are just sitting back like, oh, let him punch

724
00:35:55,480 --> 00:35:58,600
Speaker 2: himself down, don't sow get every pitch. They just want

725
00:35:58,640 --> 00:36:01,480
Speaker 2: to see someone with some fight and some energy.

726
00:36:01,480 --> 00:36:01,959
Speaker 4: That's all.

727
00:36:02,360 --> 00:36:05,000
Speaker 2: And you know, so far, the people who have really

728
00:36:05,239 --> 00:36:09,880
Speaker 2: tried to provide that are Bernie has the best plan

729
00:36:10,000 --> 00:36:12,920
Speaker 2: and the best strategy that we've seen so far. AOC

730
00:36:13,080 --> 00:36:15,439
Speaker 2: has been very aggressive in terms of getting out there

731
00:36:15,520 --> 00:36:17,440
Speaker 2: and like meeting the moment in terms of her rhetoric

732
00:36:17,520 --> 00:36:19,640
Speaker 2: and that I think that's really all they're looking for

733
00:36:19,760 --> 00:36:22,080
Speaker 2: is for people to show some fight. Yeah, they know

734
00:36:22,160 --> 00:36:25,560
Speaker 2: they're not magicians. They know they can't magically turn it back.

735
00:36:25,640 --> 00:36:27,719
Speaker 2: They know that, you know, maybe getting arrested in front

736
00:36:27,719 --> 00:36:29,520
Speaker 2: of the Department of Education isn't going to like solve

737
00:36:29,520 --> 00:36:32,120
Speaker 2: the problem overnight or whatever. They just want to see

738
00:36:32,120 --> 00:36:33,879
Speaker 2: some fight. And I think that there was a lot

739
00:36:33,920 --> 00:36:35,879
Speaker 2: of that with the Tea Party as well. I agree

740
00:36:36,160 --> 00:36:38,080
Speaker 2: there's a lot that with Trump too, to be honest

741
00:36:38,120 --> 00:36:40,440
Speaker 2: with you, where more like they just love to see

742
00:36:40,520 --> 00:36:43,319
Speaker 2: him take on the fight and be unafraid of it

743
00:36:43,480 --> 00:36:46,040
Speaker 2: and own the Libs. And like that's kind of what

744
00:36:46,080 --> 00:36:49,000
Speaker 2: the liberal base wants to see right now from their leaders,

745
00:36:49,040 --> 00:36:51,480
Speaker 2: and they're not getting from any one say basically like

746
00:36:51,480 --> 00:36:52,279
Speaker 2: Bernie Sanders say.

747
00:36:52,280 --> 00:36:53,680
Speaker 3: I think has an important point though, is that what

748
00:36:53,760 --> 00:36:55,520
Speaker 3: is owning the Libs get you? It's like, you know,

749
00:36:55,560 --> 00:36:57,880
Speaker 3: it gets you that farmer guy who got his government

750
00:36:57,920 --> 00:36:59,840
Speaker 3: contract shut off, and he's like, it's the government who's

751
00:36:59,840 --> 00:37:02,440
Speaker 3: come after me. So it's like, listen, guys, if you

752
00:37:02,480 --> 00:37:06,600
Speaker 3: want your rage to be hijacked by rich people, which

753
00:37:06,600 --> 00:37:09,120
Speaker 3: is basically what's happened throughout the culture war on left

754
00:37:09,320 --> 00:37:11,040
Speaker 3: and right, Like, go ahead, I guess.

755
00:37:11,120 --> 00:37:14,359
Speaker 4: But again, that's what Bernie piece matters so much.

756
00:37:14,520 --> 00:37:16,520
Speaker 1: Yeah, Bernie, are we overstating a little bit?

757
00:37:16,560 --> 00:37:18,200
Speaker 3: I mean, the guy sold out twenty three hundred or

758
00:37:18,320 --> 00:37:20,200
Speaker 3: had twenty three hundred people in Nebraska like you and

759
00:37:20,280 --> 00:37:23,600
Speaker 3: I sold out a place with like fifteen sixteen hundred people, Like,

760
00:37:23,600 --> 00:37:24,640
Speaker 3: it's not a lot of people.

761
00:37:24,800 --> 00:37:26,959
Speaker 1: If ten thousand people show up, call me all right.

762
00:37:27,440 --> 00:37:31,280
Speaker 4: Like a city, small place, isn't Iowa City.

763
00:37:31,480 --> 00:37:33,520
Speaker 3: The place where they have what's it called, isn't the

764
00:37:33,600 --> 00:37:35,919
Speaker 3: university there? Isn't one of the most liberal counties there.

765
00:37:35,960 --> 00:37:38,960
Speaker 3: So again, let's not overstate the case. Yeah, like I

766
00:37:39,239 --> 00:37:42,440
Speaker 3: was not going blue, like Nebraska's not going blue. Uh,

767
00:37:42,760 --> 00:37:45,360
Speaker 3: in terms of like all of these places where it matters,

768
00:37:45,360 --> 00:37:47,440
Speaker 3: Wisconsin all that, I'm gonna pay much more attention to

769
00:37:47,480 --> 00:37:50,680
Speaker 3: that town hall. Maybe that guy will lose, But I

770
00:37:50,680 --> 00:37:53,560
Speaker 3: mean it's just again like it there's there just seems

771
00:37:53,600 --> 00:37:56,240
Speaker 3: to be like a Lib wish casting happening here, which

772
00:37:56,400 --> 00:37:59,719
Speaker 3: makes me very skeptical because so much Lib wish casting

773
00:37:59,800 --> 00:38:01,840
Speaker 3: during the election turned out to be bullshit.

774
00:38:01,880 --> 00:38:04,719
Speaker 2: But you acknowledge like there's probably going to be a

775
00:38:04,760 --> 00:38:06,240
Speaker 2: significant backlash in the Midia.

776
00:38:06,280 --> 00:38:07,759
Speaker 1: Absolutely, I think that would have happen.

777
00:38:08,040 --> 00:38:11,120
Speaker 2: I think Virginia is going to be in a blood bath.

778
00:38:11,200 --> 00:38:12,840
Speaker 2: They have elections this year. I think it's gonna be

779
00:38:12,880 --> 00:38:15,080
Speaker 2: a blood bath because of how many federal government workers

780
00:38:15,120 --> 00:38:17,360
Speaker 2: there are and how much this hits home for, and

781
00:38:17,440 --> 00:38:19,520
Speaker 2: not just in the Northern Virginia suburbs, but you know

782
00:38:19,600 --> 00:38:22,279
Speaker 2: throughout the state, including in Norfolk, including the town where

783
00:38:22,320 --> 00:38:26,719
Speaker 2: I live, et cetera. And so you know, the backlash

784
00:38:26,800 --> 00:38:30,200
Speaker 2: is it has emerged, right, it is here, The energy

785
00:38:30,280 --> 00:38:33,239
Speaker 2: is there. You can see the trend in the trajectory.

786
00:38:33,239 --> 00:38:37,000
Speaker 2: It's on And all I'm saying is like it is

787
00:38:37,120 --> 00:38:39,880
Speaker 2: I think very inco eight. I think it is just

788
00:38:39,920 --> 00:38:41,520
Speaker 2: a react. And in the same way the Tea Party

789
00:38:41,600 --> 00:38:44,520
Speaker 2: was just really just a reaction against Obama Democrats having

790
00:38:44,560 --> 00:38:48,160
Speaker 2: a trifecta. This is a similar, sort of parallel thing,

791
00:38:48,520 --> 00:38:53,960
Speaker 2: with the specific tension point being around Elon Musk. Basically

792
00:38:54,000 --> 00:38:57,480
Speaker 2: like appointing himself CEO, Dictator king of the entire government.

793
00:38:58,600 --> 00:39:01,960
Speaker 2: But that's why it matters to have these like you know,

794
00:39:02,320 --> 00:39:04,960
Speaker 2: it had Paul Ryan and the Tea Party and all

795
00:39:05,000 --> 00:39:08,760
Speaker 2: those people like shaping what that movement ended up being about.

796
00:39:09,200 --> 00:39:11,880
Speaker 2: And so who takes control of the movement and right

797
00:39:11,920 --> 00:39:13,560
Speaker 2: now it's like Bernie and the Left that are stepping

798
00:39:13,600 --> 00:39:17,000
Speaker 2: up to the plate really matters for what the political

799
00:39:17,000 --> 00:39:19,719
Speaker 2: goals end up being, how it's framed at what ends

800
00:39:19,760 --> 00:39:20,600
Speaker 2: up ultimately happening.

801
00:39:20,600 --> 00:39:22,800
Speaker 3: I hate to say, you know, my money's on Buddha Jedge.

802
00:39:22,960 --> 00:39:25,800
Speaker 3: I think Pete Pee's playing his cards. He's been on Twitter,

803
00:39:26,160 --> 00:39:28,320
Speaker 3: he's been fighting. He's gonna win in Michigan.

804
00:39:28,360 --> 00:39:30,480
Speaker 1: We all know it. I'm already wanting to blow my

805
00:39:30,480 --> 00:39:35,240
Speaker 1: brains down, but I could see it. Pete's tanned, he's rested,

806
00:39:35,320 --> 00:39:35,960
Speaker 1: he's ready.

807
00:39:36,280 --> 00:39:39,160
Speaker 3: It's unfortunate, but I think I think he could be

808
00:39:39,200 --> 00:39:42,439
Speaker 3: the bridge between the NGOs and the lib rage. But listen,

809
00:39:42,520 --> 00:39:44,880
Speaker 3: maybe I'm wrong. All right, let's get to Warren Buffett.

810
00:39:47,520 --> 00:39:50,240
Speaker 3: Let's go down to Warren Buffett. We've been really paying

811
00:39:50,280 --> 00:39:52,480
Speaker 3: attention to this because it could be a signal, some

812
00:39:52,560 --> 00:39:54,920
Speaker 3: major warning signs in the economy. Let's put this up

813
00:39:54,960 --> 00:39:57,799
Speaker 3: there on the screen. So a lot of financial news

814
00:39:57,800 --> 00:40:01,000
Speaker 3: outlets have been taking note of this. Warren Buffett is

815
00:40:01,000 --> 00:40:04,720
Speaker 3: currently trying to reassure his shareholders over his record amount

816
00:40:04,800 --> 00:40:08,800
Speaker 3: of cash. The amount of cash is actually so stunning

817
00:40:09,040 --> 00:40:13,000
Speaker 3: that it's literally the letter shows a cash pile grew

818
00:40:13,160 --> 00:40:17,120
Speaker 3: by just nine billion dollars in this quarter. The cash

819
00:40:17,160 --> 00:40:21,520
Speaker 3: pile has now hit three hundred and thirty four billion

820
00:40:21,680 --> 00:40:24,480
Speaker 3: at the end of last year, with an additional increase

821
00:40:24,520 --> 00:40:27,360
Speaker 3: percentage wise. Looking at the entire history of the amount

822
00:40:27,400 --> 00:40:30,480
Speaker 3: of cash and cash equivalents on the Buffet books, there

823
00:40:30,520 --> 00:40:34,520
Speaker 3: has never been this high. And it's really interesting because

824
00:40:34,560 --> 00:40:37,480
Speaker 3: of a question of why. So what Buffett says is

825
00:40:37,520 --> 00:40:40,520
Speaker 3: that Berkshire shareholders can rest assured we will forever deploy

826
00:40:40,840 --> 00:40:43,640
Speaker 3: a substantial o their money in equities, mostly American equities,

827
00:40:43,800 --> 00:40:47,040
Speaker 3: although many of these will have international operations of significance.

828
00:40:47,239 --> 00:40:50,200
Speaker 3: But the reason why he appointed to the amount of

829
00:40:50,239 --> 00:40:54,160
Speaker 3: cash in his letter Crystal is that he is saying, basically,

830
00:40:54,200 --> 00:40:57,440
Speaker 3: he thinks that there is a massive overprice of assets

831
00:40:57,680 --> 00:40:58,440
Speaker 3: in the economy.

832
00:40:58,480 --> 00:41:00,279
Speaker 1: I actually read a book about it.

833
00:41:00,320 --> 00:41:03,000
Speaker 3: He's an interesting figure, kind of worshiped sometimes a little

834
00:41:03,000 --> 00:41:05,000
Speaker 3: bit too much in my opinion. But the thing is

835
00:41:05,080 --> 00:41:09,000
Speaker 3: that he's of the old school in terms of analyzing stocks,

836
00:41:09,160 --> 00:41:11,880
Speaker 3: trying to make sure that the multiples fit with that.

837
00:41:11,920 --> 00:41:14,120
Speaker 3: Whenever he sees a miss price, that's when he buys.

838
00:41:14,440 --> 00:41:17,520
Speaker 3: And that style of investment going back over time has

839
00:41:17,520 --> 00:41:21,640
Speaker 3: obviously made him tremendously wealthy. For him, he sees significant

840
00:41:21,680 --> 00:41:25,400
Speaker 3: imbalance currently in the economy, holding cash to be able

841
00:41:25,440 --> 00:41:29,439
Speaker 3: to buy assets for presumably what he's saying is some

842
00:41:29,480 --> 00:41:31,160
Speaker 3: sort of crash that's in the future.

843
00:41:31,160 --> 00:41:32,439
Speaker 1: Now, is he correct. I've no idea.

844
00:41:32,520 --> 00:41:34,640
Speaker 3: These guys are wrong all the time, but obviously he's

845
00:41:34,640 --> 00:41:36,960
Speaker 3: one of the most successful investors literally in American history,

846
00:41:37,000 --> 00:41:39,520
Speaker 3: so we should all pay attention and looking back to

847
00:41:40,040 --> 00:41:42,680
Speaker 3: all the stuff that he has done previously. Whenever he's

848
00:41:42,680 --> 00:41:45,359
Speaker 3: hold health cash, he's come out pretty well on top

849
00:41:45,400 --> 00:41:48,520
Speaker 3: whenever he bets on something being overpriced, and that's kind

850
00:41:48,520 --> 00:41:52,919
Speaker 3: of the foundation of his entire entire stock analysis going

851
00:41:52,960 --> 00:41:54,320
Speaker 3: back for decades.

852
00:41:54,760 --> 00:41:57,040
Speaker 2: This is the most amount of cash that Burscher Hathaway

853
00:41:57,080 --> 00:42:01,719
Speaker 2: has ever held, like quite by a fairly margin. So

854
00:42:01,880 --> 00:42:04,720
Speaker 2: that's something to pay attention to. Something I had noticed

855
00:42:04,760 --> 00:42:07,920
Speaker 2: before is actually a bunch of billionaires have been dumping stocks.

856
00:42:08,080 --> 00:42:12,440
Speaker 2: So Bezos has been, Bill Gates has been Sockerberger.

857
00:42:12,480 --> 00:42:13,280
Speaker 4: I believe Ray.

858
00:42:13,200 --> 00:42:17,080
Speaker 1: Dalio, like Alex carp I, sold a huge thing of paleer.

859
00:42:17,239 --> 00:42:21,520
Speaker 2: A bunch of billionaires are mitigating their risk and exposure

860
00:42:21,520 --> 00:42:25,000
Speaker 2: to the stock market. And you know, that's I think

861
00:42:25,040 --> 00:42:27,520
Speaker 2: something to pay attention to. One of the things. One

862
00:42:27,520 --> 00:42:29,920
Speaker 2: of the reasons why we cover deep seeks so extensively

863
00:42:30,080 --> 00:42:34,160
Speaker 2: is because our stock market is so dependent on this

864
00:42:34,440 --> 00:42:38,920
Speaker 2: just handful of tech giants. They are responsible for majority

865
00:42:39,000 --> 00:42:41,520
Speaker 2: of the growth in our stock market index over the

866
00:42:41,520 --> 00:42:47,600
Speaker 2: past couple of years. So if their AI projections do

867
00:42:47,719 --> 00:42:51,160
Speaker 2: not pan out, either in terms of their ability to

868
00:42:51,200 --> 00:42:54,160
Speaker 2: corner the market or in terms of how impactful AI

869
00:42:54,360 --> 00:42:58,760
Speaker 2: ends up being, then there could be a massive correction.

870
00:42:59,200 --> 00:43:01,960
Speaker 2: And so the fact that deep seek was developed in

871
00:43:02,080 --> 00:43:05,120
Speaker 2: China for less money and you know, has a fundamentally

872
00:43:05,160 --> 00:43:07,239
Speaker 2: sort of different configuration and blew up some of the

873
00:43:07,280 --> 00:43:13,440
Speaker 2: assumptions undergirding AI development in trajectory in the US was

874
00:43:13,719 --> 00:43:17,600
Speaker 2: particularly significant because there is a big question about whether

875
00:43:17,640 --> 00:43:21,480
Speaker 2: there is a huge AI bubble right now comparable to

876
00:43:21,600 --> 00:43:24,239
Speaker 2: let's say, the like two thousands dot com bubble, and

877
00:43:24,560 --> 00:43:27,600
Speaker 2: you know, I think that's a very real and live possibility.

878
00:43:28,280 --> 00:43:30,080
Speaker 2: You add to that some of the things we're about

879
00:43:30,080 --> 00:43:32,880
Speaker 2: to get into, like the housing market still sucks, inflation

880
00:43:33,000 --> 00:43:36,600
Speaker 2: now is going back up, consumer sentiment is falling. You

881
00:43:36,600 --> 00:43:38,440
Speaker 2: have Trump who knows what he's going to do in

882
00:43:38,520 --> 00:43:44,480
Speaker 2: terms of tariffs, the firing mass firings at the federal government. Like, yes,

883
00:43:44,560 --> 00:43:48,840
Speaker 2: it's a comparatively small proportion of the of the overall workforce,

884
00:43:49,200 --> 00:43:52,839
Speaker 2: but can have huge reverberating effects throughout the country. All

885
00:43:52,880 --> 00:43:55,200
Speaker 2: of these pieces should make you pretty nervous.

886
00:43:55,360 --> 00:43:57,839
Speaker 3: Oh, absolutely, And all of the signs are there for

887
00:43:57,960 --> 00:43:59,880
Speaker 3: some market problems. Put this one up there on this

888
00:44:00,239 --> 00:44:02,959
Speaker 3: This is from Friday, but just right now when we're

889
00:44:03,320 --> 00:44:05,960
Speaker 3: looking at the markets as we're recording the show, S

890
00:44:06,000 --> 00:44:08,760
Speaker 3: ANDP is like mostly flat today, but the Wall Street

891
00:44:09,080 --> 00:44:11,920
Speaker 3: on Friday had a significant dip. It was like almost

892
00:44:11,920 --> 00:44:14,120
Speaker 3: like one zero point seven percent or so. The reason

893
00:44:14,120 --> 00:44:16,600
Speaker 3: why I paid attention to that is it kind of

894
00:44:16,640 --> 00:44:19,960
Speaker 3: came basically on macroeconomic news, So it was concerns here

895
00:44:20,280 --> 00:44:23,800
Speaker 3: over the economy and on tariffs, specifically of the softening

896
00:44:24,120 --> 00:44:27,480
Speaker 3: of US consumer demand. I'm actually going compair that with

897
00:44:27,520 --> 00:44:30,200
Speaker 3: something really interesting that I just saw this morning. Over

898
00:44:30,280 --> 00:44:32,799
Speaker 3: fifty percent right now of consumer spending is by the

899
00:44:32,800 --> 00:44:36,960
Speaker 3: top ten percent of the American of the American income owners,

900
00:44:37,040 --> 00:44:40,600
Speaker 3: meaning rich people are the literal backbone of the economy

901
00:44:40,680 --> 00:44:43,719
Speaker 3: right now. That's actually really bad because any change in

902
00:44:43,760 --> 00:44:47,400
Speaker 3: their consumer behavior means what crash for everybody else. Also,

903
00:44:47,440 --> 00:44:50,239
Speaker 3: it's really gross because what it means. I've always pointed

904
00:44:50,280 --> 00:44:53,400
Speaker 3: this for years. What is like Uber, Instacart and all

905
00:44:53,440 --> 00:44:55,960
Speaker 3: of these new companies, what are they all about serving

906
00:44:56,000 --> 00:44:57,720
Speaker 3: the convenience of the wealthy?

907
00:44:57,960 --> 00:44:59,600
Speaker 1: Right? Airbnb? Same thing.

908
00:45:00,080 --> 00:45:03,320
Speaker 3: All of these are about luxury industries where people basically

909
00:45:03,480 --> 00:45:06,640
Speaker 3: have a mass service class to service the top ten percent.

910
00:45:06,760 --> 00:45:09,520
Speaker 1: That's really bad, flack More, even.

911
00:45:09,280 --> 00:45:11,799
Speaker 3: Distribution of consumer spending is what you want in a

912
00:45:11,800 --> 00:45:12,560
Speaker 3: healthy economy.

913
00:45:12,600 --> 00:45:13,200
Speaker 1: We don't see that.

914
00:45:13,480 --> 00:45:16,399
Speaker 3: And then worse is E three, please can we put

915
00:45:16,480 --> 00:45:20,080
Speaker 3: up on the screen, is that the overall price for

916
00:45:20,200 --> 00:45:24,200
Speaker 3: home sales remains at an all time high for January

917
00:45:24,320 --> 00:45:27,759
Speaker 3: and the number of sales continue to drop as most

918
00:45:27,840 --> 00:45:30,800
Speaker 3: people basically decide not to put their home on the market.

919
00:45:30,880 --> 00:45:33,560
Speaker 3: You've got high interest rates, you've got high home prices.

920
00:45:33,760 --> 00:45:36,200
Speaker 3: The medium home price of a home sold in January

921
00:45:36,239 --> 00:45:38,839
Speaker 3: was three hundred and ninety six thousand dollars, which if

922
00:45:38,840 --> 00:45:40,960
Speaker 3: you look actually at some of the top ten metros,

923
00:45:40,960 --> 00:45:43,439
Speaker 3: the price is roughly around one million with a seven

924
00:45:43,480 --> 00:45:45,960
Speaker 3: percent mortgage rate. So just think about you know, like,

925
00:45:46,719 --> 00:45:50,760
Speaker 3: even if you want what twenty percent to avoid PMI,

926
00:45:51,239 --> 00:45:53,239
Speaker 3: and if you're in a major metro area, good luck

927
00:45:53,239 --> 00:45:55,080
Speaker 3: to you. I mean, who has hundreds of thousands of

928
00:45:55,120 --> 00:45:57,279
Speaker 3: dollars just sitting around. Not most people, you know, it

929
00:45:57,280 --> 00:45:59,120
Speaker 3: would take you a lifetime to be able to even

930
00:45:59,160 --> 00:46:02,640
Speaker 3: save that up alone, not yet alone to save for

931
00:46:02,719 --> 00:46:05,279
Speaker 3: the mortgage payments that come in the future. So it's

932
00:46:05,400 --> 00:46:08,879
Speaker 3: very difficult. And this is probably what worries me the

933
00:46:08,880 --> 00:46:11,840
Speaker 3: most and is in my opinion, the most existential threat

934
00:46:12,000 --> 00:46:16,120
Speaker 3: to a Trump presidency is some sort of bubble explosion.

935
00:46:16,200 --> 00:46:18,240
Speaker 1: It could be. I mean, that's the thing about Nvidia.

936
00:46:18,320 --> 00:46:21,000
Speaker 3: It can still be a phenomenally valuable company and it

937
00:46:21,000 --> 00:46:23,919
Speaker 3: can still drop by forty percent just because of how

938
00:46:24,400 --> 00:46:28,520
Speaker 3: increase the price is now relative Just how much is

939
00:46:28,520 --> 00:46:31,359
Speaker 3: there Look at MetaStock, look at google Stock, any of.

940
00:46:31,320 --> 00:46:34,000
Speaker 1: These others over the last five years. It's insane.

941
00:46:34,239 --> 00:46:37,080
Speaker 3: And then the billions of capex that they're spending on

942
00:46:37,239 --> 00:46:39,640
Speaker 3: AI development. I think if we put all that together

943
00:46:39,960 --> 00:46:42,520
Speaker 3: with weak consumer spending, and then even if you leave

944
00:46:42,520 --> 00:46:44,719
Speaker 3: tariffs out of this, just the fundamentals right now are

945
00:46:44,760 --> 00:46:48,279
Speaker 3: bad price hold, all time high for homes, lack of

946
00:46:48,640 --> 00:46:52,720
Speaker 3: credit because mortgage rates are very very high, consumer sentiment down.

947
00:46:53,000 --> 00:46:55,319
Speaker 3: Actually you're seeing an increase in budget stuff, which is

948
00:46:55,360 --> 00:46:57,480
Speaker 3: not usually a good sign. It means people are tightening

949
00:46:57,600 --> 00:47:00,879
Speaker 3: their pocketbooks. And then complete redistribute where you have top

950
00:47:00,920 --> 00:47:04,040
Speaker 3: ten percent responsible for more than half of overall consumer

951
00:47:04,080 --> 00:47:06,520
Speaker 3: spending in the US economy. So that just shows you

952
00:47:06,560 --> 00:47:09,239
Speaker 3: that if a single thing were to change, like let's

953
00:47:09,239 --> 00:47:11,880
Speaker 3: say a correction of the stock market by twenty percent,

954
00:47:11,920 --> 00:47:14,399
Speaker 3: and all those rich people stopped spending, at least even

955
00:47:14,400 --> 00:47:15,080
Speaker 3: more of a doom loop.

956
00:47:15,160 --> 00:47:16,480
Speaker 1: Yeah, it goes through these.

957
00:47:16,120 --> 00:47:17,120
Speaker 4: That's exactly right. Yeah.

958
00:47:17,160 --> 00:47:19,000
Speaker 2: And the last piece we have here is just specifically

959
00:47:19,040 --> 00:47:21,440
Speaker 2: about consumer sentiment, which we can put up on the screen.

960
00:47:21,760 --> 00:47:24,520
Speaker 2: This was the write up from CNN. They say it's

961
00:47:24,600 --> 00:47:27,640
Speaker 2: consumer sentiment plunges over tariff and inflation fears. So we

962
00:47:27,680 --> 00:47:31,279
Speaker 2: already saw a pullback in consumer sentiment in January. There

963
00:47:31,360 --> 00:47:33,680
Speaker 2: was another one in February. This is according to the

964
00:47:33,760 --> 00:47:37,000
Speaker 2: University of Michigan's latest survey release Fridays, showed it had

965
00:47:37,000 --> 00:47:40,200
Speaker 2: declined in February for the second consecutive month, down by

966
00:47:40,239 --> 00:47:43,239
Speaker 2: a steep ten percent from January. That was double the

967
00:47:43,280 --> 00:47:48,400
Speaker 2: decline initially reported earlier this month. And there's a partisan

968
00:47:48,560 --> 00:47:51,239
Speaker 2: valance to this. So Republicans are still feeling pretty good,

969
00:47:51,600 --> 00:47:57,840
Speaker 2: but both Democrats and Independence experienced a fall in consumer sentiment.

970
00:47:58,040 --> 00:48:00,880
Speaker 2: So you know, when you put all the pieces together,

971
00:48:01,080 --> 00:48:05,200
Speaker 2: it's a pretty perilous, perilous landscape. And you know, you again,

972
00:48:05,280 --> 00:48:08,760
Speaker 2: layer on top of it the austerity push from Elon

973
00:48:08,920 --> 00:48:11,799
Speaker 2: and doge in the amount of chaos and uncertainty that's

974
00:48:11,840 --> 00:48:16,239
Speaker 2: injecting with the federal workforce, and you know, all of

975
00:48:16,280 --> 00:48:19,960
Speaker 2: the ancillary jobs that are connected to the federal government

976
00:48:20,000 --> 00:48:23,520
Speaker 2: and the federal workforce, all the services throughout the country,

977
00:48:23,520 --> 00:48:25,640
Speaker 2: things like the national parks, et cetera, that are important

978
00:48:25,640 --> 00:48:28,800
Speaker 2: to the local economies, and it ends up in a

979
00:48:28,800 --> 00:48:31,319
Speaker 2: pretty concerning picture for the future.

980
00:48:31,000 --> 00:48:33,560
Speaker 3: That's right, So everybody just pay attention the economy. I mean,

981
00:48:33,640 --> 00:48:37,200
Speaker 3: who knows where things could go. But I'm the most worried.

982
00:48:37,239 --> 00:48:40,080
Speaker 3: And what we always talk about here is the concentration

983
00:48:40,200 --> 00:48:42,160
Speaker 3: of the magnificent seven stocks in the S and P

984
00:48:42,239 --> 00:48:46,560
Speaker 3: five hundred, and the difference and just the sheer ability

985
00:48:47,000 --> 00:48:50,480
Speaker 3: of the indexes right now to crash just as a

986
00:48:50,480 --> 00:48:53,040
Speaker 3: result of a reduction in the tech market is like

987
00:48:53,080 --> 00:48:56,560
Speaker 3: a huge threat, especially if all of those are overvalued,

988
00:48:56,840 --> 00:48:59,840
Speaker 3: and when there's a market correction and high interest rates,

989
00:49:00,080 --> 00:49:04,600
Speaker 3: think about that money's expensive and people's overall assets are low.

990
00:49:04,920 --> 00:49:08,000
Speaker 3: It will just lead to a total change in consumer behavior,

991
00:49:08,239 --> 00:49:09,759
Speaker 3: especially if you're people at the top. It could have

992
00:49:09,840 --> 00:49:13,160
Speaker 3: all sorts of crazy impacts. So I'm really worried about it.

993
00:49:13,160 --> 00:49:15,880
Speaker 3: But also obviously, what's the easiest thing to do. Whenever

994
00:49:15,920 --> 00:49:17,799
Speaker 3: there's a crash, they fire a bunch of people. So

995
00:49:17,840 --> 00:49:20,080
Speaker 3: then you know, we have high We actually have high

996
00:49:20,080 --> 00:49:22,080
Speaker 3: employment right now, some of the highest ever.

997
00:49:22,239 --> 00:49:24,160
Speaker 1: But we could have like the worst.

998
00:49:23,920 --> 00:49:28,520
Speaker 3: Nineteen seventy scenario of like bad asset prices, high interest rates,

999
00:49:28,880 --> 00:49:32,080
Speaker 3: high unemployment. It would just be a complain not to mention,

1000
00:49:32,480 --> 00:49:34,640
Speaker 3: you know, all the domestic strife and all that stuff.

1001
00:49:34,840 --> 00:49:36,919
Speaker 3: I'm still waiting for America to break, like, I don't

1002
00:49:36,960 --> 00:49:38,640
Speaker 3: know how long they can take it. I just don't

1003
00:49:38,640 --> 00:49:40,239
Speaker 3: get it. The home price thing is the one I

1004
00:49:40,239 --> 00:49:42,640
Speaker 3: think about the most where I'm like, man, like, just

1005
00:49:42,760 --> 00:49:45,680
Speaker 3: you know, decades, if you're like forty seven and you've

1006
00:49:45,719 --> 00:49:47,719
Speaker 3: still have been unable to buy a house, what do

1007
00:49:47,760 --> 00:49:50,239
Speaker 3: you do? Like that would break me personally. So I

1008
00:49:50,360 --> 00:49:52,719
Speaker 3: just have no idea, like how much longer this whole

1009
00:49:52,719 --> 00:49:53,359
Speaker 3: thing can go on.

1010
00:49:53,800 --> 00:49:58,200
Speaker 2: Yeah, if you look at the cost of housing, education,

1011
00:49:58,640 --> 00:50:03,880
Speaker 2: healthcare over decades, it just, I mean, it is skyrocketed astronomically,

1012
00:50:03,960 --> 00:50:05,839
Speaker 2: so that the number of hours you have to work

1013
00:50:05,880 --> 00:50:07,640
Speaker 2: at like, you know, an average waste job to be

1014
00:50:07,640 --> 00:50:12,080
Speaker 2: able to afford those things has I mean, it's just skyrocketed.

1015
00:50:12,239 --> 00:50:14,640
Speaker 2: It's insane compared to what it used to be. And

1016
00:50:14,719 --> 00:50:17,359
Speaker 2: so even as you look at these various indicators of oh,

1017
00:50:17,400 --> 00:50:20,400
Speaker 2: in this way, America is doing better and Americans are wealthier,

1018
00:50:20,400 --> 00:50:22,279
Speaker 2: et cetera, et cetera, But when you talk about these

1019
00:50:22,800 --> 00:50:27,799
Speaker 2: core staples of a afford above, like a basic middle

1020
00:50:27,880 --> 00:50:30,680
Speaker 2: class life, those are the things that have gone through

1021
00:50:30,680 --> 00:50:33,640
Speaker 2: the roof, and there's really no you know, no end

1022
00:50:33,680 --> 00:50:36,000
Speaker 2: in sight, no serious attempt being made to deal with

1023
00:50:36,040 --> 00:50:39,600
Speaker 2: housing prices. And that's such a core component too, of

1024
00:50:39,640 --> 00:50:43,239
Speaker 2: how Americans have traditionally been able to build wealth and stability.

1025
00:50:43,360 --> 00:50:45,320
Speaker 2: So That's why we always pay a lot of attention

1026
00:50:45,400 --> 00:50:48,120
Speaker 2: to it. But yeah, a lot of warning signs here, ye.

1027
00:50:48,800 --> 00:50:53,120
Speaker 2: In any case, Luigi Mangioni made an appearance in court

1028
00:50:53,640 --> 00:50:56,239
Speaker 2: this week, and our own Spencer Snyder was there to

1029
00:50:56,280 --> 00:50:59,719
Speaker 2: talk to some of the protesters who were in and

1030
00:50:59,760 --> 00:51:02,319
Speaker 2: around the courtroom about why they were there and what

1031
00:51:02,360 --> 00:51:03,879
Speaker 2: they were hoping to see from this trial.

1032
00:51:03,920 --> 00:51:08,480
Speaker 4: Let's go ahead and get to that. Very fortunate to be.

1033
00:51:08,440 --> 00:51:10,880
Speaker 2: Joined this morning by Spencer Snyder, who is one of

1034
00:51:10,920 --> 00:51:15,120
Speaker 2: our fantastic Breaking Points contributors and whose videos regularly blow

1035
00:51:15,200 --> 00:51:15,759
Speaker 2: up on our channel.

1036
00:51:15,960 --> 00:51:17,839
Speaker 1: To Spencer, good to see you, man read to be here.

1037
00:51:18,520 --> 00:51:22,600
Speaker 2: So you were in Manhattan, you spoke to luigim Mangioni

1038
00:51:22,680 --> 00:51:26,480
Speaker 2: made his first court appearance there since his original arraignment,

1039
00:51:26,880 --> 00:51:29,919
Speaker 2: and there were a bunch of Luigi's supporters and sort

1040
00:51:29,920 --> 00:51:34,200
Speaker 2: of like anti healthcare industry protesters who were there waiting

1041
00:51:34,200 --> 00:51:36,680
Speaker 2: to get inside the court room and also outside the courtroom.

1042
00:51:37,160 --> 00:51:38,279
Speaker 4: You were able to speak to some of them.

1043
00:51:38,320 --> 00:51:39,600
Speaker 2: We're going to play a little bit, but why don't

1044
00:51:39,600 --> 00:51:41,680
Speaker 2: you go ahead and set up what we're about to

1045
00:51:41,719 --> 00:51:42,200
Speaker 2: watch here.

1046
00:51:43,160 --> 00:51:45,320
Speaker 8: Yeah, you know, I went to the rally for Luigi

1047
00:51:45,360 --> 00:51:48,040
Speaker 8: MAANNGIONI outside of the Manhattan Criminal Court on Saturday, just

1048
00:51:48,040 --> 00:51:50,080
Speaker 8: to talk to some people and see what motivated them

1049
00:51:50,560 --> 00:51:52,640
Speaker 8: to come out. So I just prepared a few of

1050
00:51:52,640 --> 00:51:54,840
Speaker 8: their statements and their general sentiments.

1051
00:51:55,000 --> 00:51:56,640
Speaker 4: All right, let's go ahead and listen to that.

1052
00:51:57,360 --> 00:52:02,600
Speaker 9: Really spar thousands of dollars out of pocket and health

1053
00:52:02,640 --> 00:52:05,880
Speaker 9: care expenses in the past year. I have good healthcare,

1054
00:52:06,000 --> 00:52:09,560
Speaker 9: I have Anthem gold Ppo, and I just don't think

1055
00:52:09,600 --> 00:52:12,759
Speaker 9: that we should exist in a system where medical bankruptcy

1056
00:52:12,800 --> 00:52:13,200
Speaker 9: is a thing.

1057
00:52:13,520 --> 00:52:16,080
Speaker 1: And I don't think that murder is justified.

1058
00:52:16,280 --> 00:52:22,040
Speaker 9: But when you have a system that systematically devalues the

1059
00:52:22,239 --> 00:52:27,200
Speaker 9: lives of consumers and of citizens at the behest of

1060
00:52:27,400 --> 00:52:31,160
Speaker 9: the profit margin of the corporations, you're gonna have people

1061
00:52:31,160 --> 00:52:31,640
Speaker 9: get mad.

1062
00:52:31,760 --> 00:52:35,280
Speaker 10: Brian Thompson is indirectly responsible for the deaths of probably

1063
00:52:35,560 --> 00:52:40,720
Speaker 10: thousands of Americans at this point. Yeah, yeah, it's a lot.

1064
00:52:40,800 --> 00:52:44,400
Speaker 10: And so I think free Luigi means free healthcare, it

1065
00:52:44,440 --> 00:52:46,960
Speaker 10: means free are people, it means democracy.

1066
00:52:47,080 --> 00:52:49,719
Speaker 8: I don't think there's one person in this country that

1067
00:52:49,840 --> 00:52:53,680
Speaker 8: hasn't had at least some type of negative experience with healthcare.

1068
00:52:53,920 --> 00:52:55,759
Speaker 11: I will tell the one about my mom, because she's

1069
00:52:55,800 --> 00:52:57,759
Speaker 11: passed since now that she had a huge tumor in

1070
00:52:57,800 --> 00:53:00,840
Speaker 11: her neck. It turned out to be stage four hogkitkinslin foma,

1071
00:53:00,840 --> 00:53:02,960
Speaker 11: which nearly killed her. But had she listened to the

1072
00:53:03,000 --> 00:53:05,719
Speaker 11: health insurance company and the doctor which wasn't willing to

1073
00:53:05,760 --> 00:53:08,080
Speaker 11: rad sure the health insurance company would, she would have

1074
00:53:08,120 --> 00:53:09,719
Speaker 11: passed at the age of like forty eight.

1075
00:53:10,000 --> 00:53:11,439
Speaker 12: It was like, I work with a lot of women

1076
00:53:11,440 --> 00:53:15,480
Speaker 12: who have breast cancer and they are getting declined their

1077
00:53:15,560 --> 00:53:19,719
Speaker 12: right to reconstruction, and I have to argue in a document.

1078
00:53:19,760 --> 00:53:22,879
Speaker 12: Basically I'll write like a forty page document saying like, hey,

1079
00:53:22,920 --> 00:53:25,920
Speaker 12: this woman had breast cancer, these are her rights, and

1080
00:53:25,960 --> 00:53:26,960
Speaker 12: they're kind of being declined.

1081
00:53:27,000 --> 00:53:28,120
Speaker 4: And this is like really frequent.

1082
00:53:28,160 --> 00:53:29,840
Speaker 13: And since I'm a home health fate, I've seen it

1083
00:53:29,840 --> 00:53:33,279
Speaker 13: within my patients, my clients getting you know, denied and

1084
00:53:33,360 --> 00:53:36,720
Speaker 13: I denied with insurance claim that they really need. And

1085
00:53:36,840 --> 00:53:39,759
Speaker 13: I think it's just extremely unfair. And I again, this

1086
00:53:39,880 --> 00:53:40,960
Speaker 13: is you know, this is why I'm here, This is

1087
00:53:41,000 --> 00:53:43,960
Speaker 13: why I'm supporting Luigi. He is a hero to me.

1088
00:53:44,000 --> 00:53:45,359
Speaker 13: I don't see him as a criminal at all.

1089
00:53:45,560 --> 00:53:46,280
Speaker 1: We have a solution.

1090
00:53:46,480 --> 00:53:50,480
Speaker 14: The solution is a single pair ideally a universal payer system.

1091
00:53:50,560 --> 00:53:52,799
Speaker 14: Across the United States. But we're also here advocating for

1092
00:53:52,800 --> 00:53:55,160
Speaker 14: the New York Healthcare Act, which is a single payer

1093
00:53:55,200 --> 00:53:57,520
Speaker 14: system for New York. So we can't get it for everybody,

1094
00:53:57,560 --> 00:53:59,680
Speaker 14: then let's at least, you know, prove that it is

1095
00:53:59,719 --> 00:54:01,239
Speaker 14: a I will concept here in New York.

1096
00:54:01,600 --> 00:54:04,239
Speaker 2: I mean, really interesting to hear that it seemed like

1097
00:54:04,239 --> 00:54:05,640
Speaker 2: there were a lot of ladies there. So I'll let

1098
00:54:05,680 --> 00:54:07,839
Speaker 2: you weigh in on whether there was in fact a

1099
00:54:07,840 --> 00:54:10,919
Speaker 2: bit of a gender imbalance here, perhaps owing to the

1100
00:54:11,040 --> 00:54:15,520
Speaker 2: relative attractiveness of this gentleman. But also, you know, what

1101
00:54:15,680 --> 00:54:19,200
Speaker 2: do they think that they will could accomplish by coming

1102
00:54:19,239 --> 00:54:22,839
Speaker 2: out and doing this protest and supporting him as he's

1103
00:54:22,920 --> 00:54:23,760
Speaker 2: you know, facing trial.

1104
00:54:25,280 --> 00:54:28,280
Speaker 8: I mean, as far as what they think is accomplishable

1105
00:54:28,520 --> 00:54:30,839
Speaker 8: just by just by that, I think, you know, it's

1106
00:54:30,920 --> 00:54:33,759
Speaker 8: it's up in the air. But I would say, you know,

1107
00:54:33,840 --> 00:54:37,600
Speaker 8: people there are really motivated by a broken healthcare system.

1108
00:54:37,719 --> 00:54:39,839
Speaker 6: People there were angry, they're frustrated.

1109
00:54:40,400 --> 00:54:40,560
Speaker 1: You know.

1110
00:54:40,640 --> 00:54:43,520
Speaker 8: One person said when I asked her what she thought

1111
00:54:43,520 --> 00:54:45,560
Speaker 8: when she heard the news about Brian Thompson, she said,

1112
00:54:46,040 --> 00:54:47,640
Speaker 8: finally something is being done.

1113
00:54:47,880 --> 00:54:48,160
Speaker 1: Wow.

1114
00:54:48,560 --> 00:54:49,920
Speaker 8: You know, there were a lot of doctors there, a

1115
00:54:50,000 --> 00:54:52,560
Speaker 8: lot of people who work in healthcare, but also just

1116
00:54:52,600 --> 00:54:55,720
Speaker 8: people who you know, are angry about the healthcare system.

1117
00:54:55,760 --> 00:54:59,440
Speaker 8: You know, there were some Luigi fans. I mean everyone's

1118
00:54:59,440 --> 00:55:03,360
Speaker 8: wearing green. Everyone had a lot of Luigi stuff and

1119
00:55:03,480 --> 00:55:08,680
Speaker 8: paraphernalia and hats. One woman had knitted a free Luigi sweater.

1120
00:55:09,920 --> 00:55:12,959
Speaker 8: But everyone I spoke with was there because they think

1121
00:55:13,040 --> 00:55:19,680
Speaker 8: the healthcare system is criminal. Everyone seemed pretty serious to me. No, no,

1122
00:55:19,680 --> 00:55:21,879
Speaker 8: No one told me I'm here because he's hot.

1123
00:55:22,560 --> 00:55:22,759
Speaker 7: Yeah.

1124
00:55:22,840 --> 00:55:24,920
Speaker 1: No, good point. That's very important.

1125
00:55:24,920 --> 00:55:27,960
Speaker 3: So in terms of the social effect of all of this,

1126
00:55:28,160 --> 00:55:31,920
Speaker 3: what struck you in terms of the way that people

1127
00:55:31,960 --> 00:55:34,120
Speaker 3: felt compelled to come out so they wanted to talk

1128
00:55:34,120 --> 00:55:36,440
Speaker 3: to you. Obviously we heard a lot about discussed with

1129
00:55:36,560 --> 00:55:40,560
Speaker 3: the overall healthcare system. But how closely are they following

1130
00:55:40,600 --> 00:55:43,000
Speaker 3: the news and what do you think the political valance

1131
00:55:43,040 --> 00:55:45,359
Speaker 3: of most of the people who were in attendance were.

1132
00:55:47,200 --> 00:55:52,000
Speaker 8: Yeah, that's a good question. The people there were they're

1133
00:55:52,040 --> 00:55:57,359
Speaker 8: following the case, they know what's happening. Political valance they

1134
00:55:57,400 --> 00:56:00,600
Speaker 8: were definitely. I'm I think there were a couple of

1135
00:56:00,640 --> 00:56:01,319
Speaker 8: conservatives there.

1136
00:56:01,360 --> 00:56:01,800
Speaker 6: I know there was.

1137
00:56:02,000 --> 00:56:04,520
Speaker 8: Someone had pointed out a conservative YouTuber who was there,

1138
00:56:05,280 --> 00:56:06,040
Speaker 8: or a TikToker.

1139
00:56:06,120 --> 00:56:08,640
Speaker 6: But I mean people were there on the left.

1140
00:56:08,800 --> 00:56:12,600
Speaker 8: There were or I would say mostly mostly leftists out there.

1141
00:56:13,760 --> 00:56:16,719
Speaker 8: I didn't see any DSA people who who I know

1142
00:56:16,800 --> 00:56:19,480
Speaker 8: are DSA. But there were people out there advocating for

1143
00:56:19,520 --> 00:56:22,520
Speaker 8: the New York Health Act, which is something that the

1144
00:56:22,640 --> 00:56:24,880
Speaker 8: DSA has made a project out of.

1145
00:56:25,360 --> 00:56:28,879
Speaker 2: How did they grapple with the sort of moral questions

1146
00:56:28,920 --> 00:56:32,000
Speaker 2: involved here? You know, you got a little taste of

1147
00:56:32,000 --> 00:56:35,040
Speaker 2: that in the clips that you shared of someone saying like, well,

1148
00:56:35,200 --> 00:56:37,840
Speaker 2: I don't think murder is like murder is wrong, but

1149
00:56:38,000 --> 00:56:41,960
Speaker 2: also this healthcare system is wrong and immoral as well.

1150
00:56:42,360 --> 00:56:45,120
Speaker 2: So how were people sort of balancing the way that

1151
00:56:45,160 --> 00:56:46,040
Speaker 2: they felt and.

1152
00:56:46,000 --> 00:56:46,600
Speaker 4: Thought about that?

1153
00:56:48,719 --> 00:56:49,719
Speaker 6: You know, I think.

1154
00:56:51,040 --> 00:56:54,040
Speaker 8: In my estimation, they see the killing of Brian Thompson

1155
00:56:54,040 --> 00:56:57,960
Speaker 8: as not entirely dissimilar from someone who kills their spouse

1156
00:56:58,000 --> 00:57:01,200
Speaker 8: and self defense. I mean, there was I'm sure everyone

1157
00:57:01,280 --> 00:57:03,919
Speaker 8: remembers the Emerson poll asking to what extent people found

1158
00:57:03,920 --> 00:57:08,480
Speaker 8: the murder acceptable, Something like fifty eight percent said totally unacceptable.

1159
00:57:08,680 --> 00:57:13,600
Speaker 8: Everyone else was somewhere between somewhat unacceptable and completely acceptable.

1160
00:57:14,000 --> 00:57:15,560
Speaker 6: I mean, that's a lot.

1161
00:57:15,440 --> 00:57:19,080
Speaker 8: Of people who, it seems to me think that being

1162
00:57:19,080 --> 00:57:22,240
Speaker 8: a health insurance CEO means you're some kind of criminal,

1163
00:57:23,040 --> 00:57:24,680
Speaker 8: which is why a lot of people in the crowd

1164
00:57:25,800 --> 00:57:28,800
Speaker 8: their big goal when I asked them what they hope for,

1165
00:57:29,440 --> 00:57:31,120
Speaker 8: what they hope the outcome of the trial will be

1166
00:57:31,800 --> 00:57:34,840
Speaker 8: a lot of people said jury nullification, which if you

1167
00:57:34,840 --> 00:57:38,680
Speaker 8: don't know, is basically when the jury says, yeah, he

1168
00:57:38,840 --> 00:57:40,560
Speaker 8: did the crime, he would be guilty.

1169
00:57:40,560 --> 00:57:43,160
Speaker 6: But it's not that simple, so not guilty.

1170
00:57:43,320 --> 00:57:46,480
Speaker 3: Well, I'm really interested so in terms of the protest

1171
00:57:46,560 --> 00:57:49,040
Speaker 3: and others, as you were talking about, I know you

1172
00:57:49,120 --> 00:57:51,200
Speaker 3: follow the case as well, what are some of the

1173
00:57:51,360 --> 00:57:54,760
Speaker 3: other legal hurdles that Luigi faces now in terms of

1174
00:57:54,800 --> 00:57:56,920
Speaker 3: the procedural and eventually lead up to trial.

1175
00:57:59,160 --> 00:57:59,640
Speaker 1: Yeah, you know.

1176
00:57:59,720 --> 00:58:05,720
Speaker 8: I something that his attorney's highlighted is just the complexity

1177
00:58:05,880 --> 00:58:09,040
Speaker 8: of the three cases because you know, he's actually facing

1178
00:58:09,880 --> 00:58:13,840
Speaker 8: a trial in Pennsylvania where he was captured, He's facing

1179
00:58:13,840 --> 00:58:16,480
Speaker 8: a trial in New York, and he's facing a federal

1180
00:58:16,520 --> 00:58:20,040
Speaker 8: trial which he might be eligible for death.

1181
00:58:20,480 --> 00:58:22,720
Speaker 6: So it's it's up in the air. I think we have.

1182
00:58:24,800 --> 00:58:27,840
Speaker 8: There is another hearing next month, and I think that's

1183
00:58:27,920 --> 00:58:31,080
Speaker 8: at federal court, and the next New York appearance will

1184
00:58:31,120 --> 00:58:33,840
Speaker 8: be in June, I believe, but I don't think anyone

1185
00:58:33,880 --> 00:58:35,959
Speaker 8: really knows what's going to happen at this point.

1186
00:58:36,000 --> 00:58:39,320
Speaker 2: So these are separate charges that he's facing in state

1187
00:58:39,320 --> 00:58:42,640
Speaker 2: court in Pennsylvania, state court in New York, and federal court.

1188
00:58:42,480 --> 00:58:43,640
Speaker 6: As well, believe.

1189
00:58:43,680 --> 00:58:46,760
Speaker 2: So what is the next that we will see from

1190
00:58:47,120 --> 00:58:49,400
Speaker 2: Luigi when it is his next appearance scheduled to be

1191
00:58:49,600 --> 00:58:52,600
Speaker 2: And was there anything noteworthy from this particular appearance that

1192
00:58:52,600 --> 00:58:53,760
Speaker 2: people should know about.

1193
00:58:55,960 --> 00:58:56,840
Speaker 6: Not that I'm aware of.

1194
00:58:56,920 --> 00:59:00,240
Speaker 8: I haven't read all the details of what happened in

1195
00:59:00,720 --> 00:59:01,200
Speaker 8: the hearing.

1196
00:59:02,200 --> 00:59:05,800
Speaker 2: It's probably just pretty pretty standard, Yeah, pre trial stuff.

1197
00:59:06,200 --> 00:59:09,480
Speaker 8: I would imagine, But the next appearances next month in

1198
00:59:09,680 --> 00:59:11,920
Speaker 8: federal court, got it all right?

1199
00:59:12,000 --> 00:59:14,040
Speaker 2: Well, Spencer, thank you for being on the ground for us.

1200
00:59:14,080 --> 00:59:17,160
Speaker 2: It's very interesting to hear what Chelle had to say. Yeah, appreciate,

1201
00:59:17,200 --> 00:59:17,960
Speaker 2: it's great to see you.

1202
00:59:18,000 --> 00:59:20,520
Speaker 3: Thank you, great seeing you. Thank you guys so much

1203
00:59:20,520 --> 00:59:23,040
Speaker 3: for watching, for bearing with my voice. It's been struggling

1204
00:59:23,360 --> 00:59:25,720
Speaker 3: throughout this one. We'll be back here tomorrow and then

1205
00:59:25,760 --> 00:59:26,240
Speaker 3: we'll see that