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Speaker 1: A big group. Good morning, It's an honor to be here.

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Speaker 1: To begin with, I'd like to thank the New York

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Speaker 1: Fed for hosting this meeting and inviting me to join you.

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Speaker 1: It's fitting that the Treasury Market Conference is held each

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Speaker 1: year in the fall. Late fall offers us the opportunity

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Speaker 1: to both look back and to look forward, and since

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Speaker 1: the fall of last year, much has changed. November twenty

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Speaker 1: four marked an inflection point for the nation and its

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Speaker 1: fiscal future. The American people had just elected President Trump

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Speaker 1: to put the country on stronger financial footing. The previous

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Speaker 1: administration had run up the highest deficit in US history

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Speaker 1: outside of a recession or wartime. As a result, inflation

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Speaker 1: is skyrocketed to generational highs. Families watched are hard earned

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Speaker 1: savings melt away as prices of consumer goods climbed even higher.

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Speaker 1: Seeking a coarse correct, voters elected President Trump in a landslide,

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Speaker 1: and they gave him a clear mandate to make America

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Speaker 1: affordable again. My commitment to that cause, to improving affordability

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Speaker 1: and putting our fiscal house in order, is what motivated

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Speaker 1: me to come up from behind my desk in the

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Speaker 1: private sector and to enter public service. As a seventy

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Speaker 1: nine Treasury Secretary, my duty is to serve as the

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Speaker 1: primary caretaker of the treasury market. Maintaining a robust treasury

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Speaker 1: market and even strengthening it further, is essential to making

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Speaker 1: America affordable again. That's because treasury yields set the global

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Speaker 1: risk free rate. Domestically, the risk free rate sets everything,

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Speaker 1: sets pricing for everything from bank loans and home mortgages

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Speaker 1: to stocks and corporate bonds. In that sense, treasuries are

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Speaker 1: not only the bedrock of the global financial system, but

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Speaker 1: also so the American dream. Treasury yields have a trickle

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Speaker 1: down effect on the broader economy that determines whether a

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Speaker 1: young family can afford a home, a college student can

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Speaker 1: buy a car, or an entrepreneur can get a small

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Speaker 1: business loan. The work we do here directly impacts affordability

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Speaker 1: and quality of life out there, which is why we

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Speaker 1: must succeed. The good news is we are succeeding. The

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Speaker 1: US treasury market is more robust and more liquid than

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Speaker 1: it's ever been. The Treasury Department has made significant progress

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Speaker 1: in increasing demand and expanding accessibility to US debt. We

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Speaker 1: are poised to make even more progress towards this goal

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Speaker 1: in the months to come. Purpose of my remarks this

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Speaker 1: morning twofold first to highlight the depth, breadth, and enduring

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Speaker 1: importance of the US treasury market, and second to outline

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Speaker 1: the strategies we're using to keep it that way. As

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Speaker 1: Treasury Secretary, my job is to be the nation's top

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Speaker 1: bond salesman, and treasury yields are a strong barometer for

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Speaker 1: measuring success in this endeavor. By this metric, we're making

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Speaker 1: substantial progress and keeping rates down following the spending blowout

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Speaker 1: from the Biden years. In fact, the US treasury market

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Speaker 1: has been the best performing developed world bond market this year.

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Speaker 1: The treasury market's total returns year to date are six percent,

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Speaker 1: its best year since twenty twenty. The US ten year

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Speaker 1: term premium is basically unchanged, while US borrowing costs across

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Speaker 1: all other areas that curve from two year notes all

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Speaker 1: the way to thirty year bonds are down year to date.

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Speaker 1: Lower treasury borrowing costs and lower corporate borrowing costs, lower

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Speaker 1: mortgage rates, and lower car payments, which all translates to

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Speaker 1: greater affordability for all Americans.

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Speaker 2: Other developed bond.

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Speaker 1: Markets, by contrast, have had nowhere near the same success.

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Speaker 1: Some countries have seen demand for their debt reduced or

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Speaker 1: even dry up, especially at the long end, and they've

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Speaker 1: had to react by curtailing sales, but not the United States.

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Speaker 1: We continue to see robust demand at treasury auctions from

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Speaker 1: a wide range of investors, including foreign investors, whose holdings

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Speaker 1: of Treasury securities are at record levels. This impressive performance

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Speaker 1: comes in spite of the negative rhetoric and doom saying

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Speaker 1: are market pundits, especially this spring. For the past ten months,

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Speaker 1: the press has been pushing a sell America narrative, but

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Speaker 1: the data and the price action have been saying the opposite.

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Speaker 1: By America, and the market always rewards those who put

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Speaker 1: fundamentals over fear. Suffice it to say the treasury market

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Speaker 1: remains the deepest and most liquid market in the world,

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Speaker 1: which is a testament to the efficacy of the Trump

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Speaker 1: administration's economic policies. Investors around the globe trust the treasury

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Speaker 1: market because of its utility as a safe, liquid, and

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Speaker 1: reliable store of value. Treasury securities are used for a

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Speaker 1: wide variety of purposes in the financial system, including as

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Speaker 1: a vehicle to finance US government, as a means for

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Speaker 1: the FED to implement monetary policy as an asset for

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Speaker 1: global investors, as a high quality collateral for a range

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Speaker 1: of different transactions and institutions, and is a reference benchmark

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Speaker 1: for a wide variety of other borrowers. Daily trading volume

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Speaker 1: for US treasuries averages around one trillion per day, and

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Speaker 1: that's just in cash. Securities. Volumes and associated derivatives represent

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Speaker 1: another major source of liquidity during periods of market volatility.

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Speaker 1: Volumes in the treasury market increase substantially when markets continue

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Speaker 1: to facilitate effective risk transfer despite unexpected events. That is

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Speaker 1: a sign of things working. Having traded many different markets

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Speaker 1: across the world throughout my career, it is moments when

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Speaker 1: markets stop trading that most concern me. It is impossible

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Speaker 1: to eliminate market volatility altogether, and that's why our goal

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Speaker 1: must be to ensure a robust and resilient market that

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Speaker 1: can withstand volatility when it inevitably arrives. To that end,

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Speaker 1: Treasury is pushing several forward thinking initiatives to strengthen the

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Speaker 1: treasury market.

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Speaker 2: This includes the.

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Speaker 1: Treasury Buyback Program, which is an important tool in supporting

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Speaker 1: market liquidity. While the program has been a success so

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Speaker 1: far in you to look for ways to improve its efficacy.

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Speaker 1: We have already expanded the size of the long end

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Speaker 1: operations in the Treasury Buyback program and will expand the

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Speaker 1: counterparty set in the first half of next year to

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Speaker 1: continue building on the progress we've made. Treasury is also

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Speaker 1: supportive of reforms to the Enhanced Supplementary Leverage Ratio, or.

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Speaker 2: The eesl R.

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Speaker 1: In its current form, the EESLR risk becoming a consistently

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Speaker 1: binding constraint rather than a backstop to risk based capital

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Speaker 1: requirements that can distort banks incentives to engage in low

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Speaker 1: risk activities such as treasury intermediation. The e SL eesl

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Speaker 1: R must be improved to prevent this distortion. Expanding central

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Speaker 1: bank clearing is also key to strengthening market The SEC

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Speaker 1: is currently leading an effort to expand central clearing and

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Speaker 1: the treasury market, which will enhance resilience, expand netting opportunities,

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Speaker 1: and standardize risk management. This effort also supports competition in

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Speaker 1: the marketplace, as several central counterparties are launching new business

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Speaker 1: lines to facilitate the expanded clearing activity.

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Speaker 3: We're going to cut highlights this and come back to it.

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Speaker 3: Why is this important does he say up front? Remember

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Speaker 3: what we've talked about and then Paul Ryant got into it,

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Speaker 3: I don't know, a month or so ago the way

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Speaker 3: and I talked about it here. Remember the Economists interview.

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Speaker 3: I gave the coming debt emergency, the coming how's it?

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Speaker 3: Coming debt emergency? Triggered? The coming debt emergency is triggered

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Speaker 3: by what? This is a concept you should write down

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Speaker 3: a failed treasury auction where the demand you know, we

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Speaker 3: get so much debt at the price we want to

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Speaker 3: sell them at, that there's resistance in the market, or

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Speaker 3: that a treasury auction which goes on I think essentially

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Speaker 3: every day or every couple of days, fails and that

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Speaker 3: that has a chain reaction that you start to quote

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Speaker 3: unquote reprice risk, and the way they reprice it is higher.

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Speaker 3: This is what the Charlie Gasparino theory right now or

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Speaker 3: why you can't totally get inflation under control. That that

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Speaker 3: three percent, And Gasparino has been doing this a long time,

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Speaker 3: says that Wall Street and particularly maybe even Treasury in

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Speaker 3: the FED or signaling that maybe three percent is their

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Speaker 3: new target. I don't happen to think that, but three

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Speaker 3: percent is not insignificant. Of course, it is orders a

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Speaker 3: magnitude lower than the Biden fiasco that started this, but

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Speaker 3: it's you know, it's not the traditional two which I

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Speaker 3: think is the FED target. And that one hundred basis

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Speaker 3: point of that one percent is a big deal because

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Speaker 3: that rolls all the way through to your credit cards,

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Speaker 3: your home, mortgage, all of it. In fact, that's one

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Speaker 3: of the underlying beliefs of the fifty year mortgage. I'm

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Speaker 3: not defending it, but one of the things they're saying

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Speaker 3: is that with the interest rates, a is a certain

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Speaker 3: height you do get. The lower you do get, the

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Speaker 3: lower the lower payment, the lower monthly payment if you've

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Speaker 3: got to make that in a car payment and you've

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Speaker 3: got to pay credit card debt, if you've got three

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Speaker 3: or two, three four things you're paying off, every couple

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Speaker 3: of hundred bucks you save on that is worth it

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Speaker 3: in the short term, and then you refinance it when

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Speaker 3: you get into a better financial situation. I understand you.

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Speaker 3: Fifty years is a long time to have a you know,

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Speaker 3: the fifty year mortgage in and of itself is not

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Speaker 3: a solution. Maybe it's a tool in the toolbox, particular

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Speaker 3: for people that want the option, but it's not a solution.

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Speaker 3: I also don't think it was presented as a solution.

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Speaker 3: I don't think President Trumper said, Hey, this is going

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Speaker 3: to this is going to solve the affordability crisis and homes.

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Speaker 3: I think it was another tool in the toolbox. I

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Speaker 3: think the way it got put out there by the

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Speaker 3: guy that presented it to him, you know, particularly unvetted

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Speaker 3: or not. Hey, this is a package of what we're

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Speaker 3: gonna do. And I think Benny Johnson and uh Andrew

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Speaker 3: over at turning point, this is one of Charlie's big

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Speaker 3: things about you know, some sort of moonshot or some

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Speaker 3: sort of Marshall plan or something for the affordability and

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Speaker 3: particularly the home crisis. As I said, this generation is nothing,

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Speaker 3: but it's nothing but Russian serfs. They're not gonna own it.

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Speaker 3: They don't own anything, and they're not gonna own anything

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Speaker 3: if you treat them like if they're Russian serfs. Eventually

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Speaker 3: they're gonna do what the Russian serfs did. Not A

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Speaker 3: lot of them signed up for the Bolsheviks. They weren't

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Speaker 3: exactly excited with the Bolsheviks, but they kind of, you know,

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Speaker 3: they got they got crushed by the bulk Bolsheviks, but

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Speaker 3: someone gave some muscle, particularly in Saint Petersburg and Moscow,

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Speaker 3: provided a little muscle because they didn't see an alternative.

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Speaker 3: This is why, this is why you got Zorn in Manhattan.

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Speaker 3: You gotta a Marxist jihadist. As I said the National

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Speaker 3: Conservative Convention that this is not the threat to Issuer

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Speaker 3: and the theat to the Jewish people principally is not

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Speaker 3: coming from Tehran. And the obsession with that, the obsession

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Speaker 3: with that has now a two state solution. You've got

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Speaker 3: a two state solution with the Muslim Brotherhood financier and

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Speaker 3: the Turks running security in the Muslim Brotherhood financiers right

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Speaker 3: in the checks. The threat is in New York City.

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Speaker 3: How do we get to New York City? Because kids

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Speaker 3: and you look at all these things, well, they're looking

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Speaker 3: at socialism. They don't like capital they never had capitalism.

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Speaker 3: They never had capitalism. They've had globalism. They have corporatist globalism.

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Speaker 3: That's not economic, that's not a free market, entrepreneurial capitalism.

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Speaker 3: And the first thing you have to do is protect

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Speaker 3: your citizens. Hell, we're protecting industries. That's what tariffs are.

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Speaker 3: I know, they don't want to talk about it is

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Speaker 3: the T word is based upon the P word. You

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Speaker 3: are a protecting certain industries. This is why the Republican

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Speaker 3: this is why Conservative Inc. Hates it because they're they're

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Speaker 3: they're all raised on Milton Friedman. Being raised on Milton

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Speaker 3: Friedman is to me just like being raised on John

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Speaker 3: Maynor Kayne's You don't you don't get actually the entire

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Speaker 3: you know, you get two sides. You don't really get solutions.

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Speaker 3: President Trump's offered you a solution, a supply side task

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Speaker 3: cut to focus on massive investments in in productive capital,

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Speaker 3: plant and equipment, couple with a trade policy commercial relationships

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Speaker 3: of the world that you got a choice either going

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Speaker 3: to build it here and create jobs, or you're going

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Speaker 3: to pay a tolling fee, take your pick, and use

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Speaker 3: the tolling fee the tariffs as a forcing function. But

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Speaker 3: the whole purpose of it is not then to invite

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Speaker 3: the world back in. Hey, Joe, we're inviting them back

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Speaker 3: in for from Asia, particularly from India and China. Why

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Speaker 3: would you invite Why would you invite then massive immigration

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Speaker 3: here on some sort of visa program to take those

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Speaker 3: jobs away from Americans. Now, if Scott Bessen is saying, Oh,

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Speaker 3: they're only here for a couple of years to just

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Speaker 3: trained people on this one. Now, I think we're all

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Speaker 3: from Missouri. I think all the numbers got to be

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Speaker 3: put out, including the investment of the foreign company. The

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Speaker 3: best way to make your case is to make your

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Speaker 3: case the theory of it. In what you've done so

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Speaker 3: far to execute our is quite frankly brilliant. Nothing short

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Speaker 3: or brilliant a President Trump's plan. Just now, let's show

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Speaker 3: some math. Let's say, show the projections, and let's show

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Speaker 3: if there's certain areas that the American worker in this

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Speaker 3: plan are not up to speed and skills. Nobody faults

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Speaker 3: getting up to skills. I got to have Nick Lutnik

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Speaker 3: or the Department of Labor or somebody has got to

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Speaker 3: put those numbers out and show, and I think show folks.

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Speaker 3: Short commercial break back with the tech bros in a moment,

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Speaker 3: still America's voice family.

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Speaker 2: Are you on Getter yet?

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Speaker 3: No?

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Speaker 4: What are you waiting for?

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Speaker 5: It's free, it's uncensored, and it's where all the biggest

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Speaker 5: voices in conservative media are speaking out.

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Speaker 3: Well, download the Getter app right now. It's totally free.

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Speaker 3: It's where I've put up exclusively all of my content

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Speaker 3: twenty four hours a day. You want to know what

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Speaker 3: Steve Banner is thinking, go together.

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Speaker 6: That's right.

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Speaker 7: You can follow all of your favor Steve Banner, Charlie Project,

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Speaker 7: the Solbet and so many more.

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Speaker 3: Download the Getter app now, sign up for free and

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Speaker 3: be part of the new papy. Okay, like I said,

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Speaker 3: we've got to get you know, the Christy Nome comment

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Speaker 3: that we're letting more folks in than ever. I think

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Speaker 3: the focus should be, let's cut it by fifty percent

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Speaker 3: in ten years. I'm serious. You can do it. Tons

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Speaker 3: of actions you can take to do this. You would

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Speaker 3: free up so many opportunities for kids, not just kids,

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Speaker 3: but adults in the United States would be amazing. Also

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Speaker 3: with Scott. If the new program is that the new

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Speaker 3: plan that's in base says it is just to train

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Speaker 3: people up, and maybe people in Georgia show me something different,

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Speaker 3: or Hyende shows me something different. I don't And maybe

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Speaker 3: it's true and we're gonna dig into it, but I'm

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Speaker 3: not buying the fact that the guys down and the

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Speaker 3: folks down in that plant where they're just to train

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Speaker 3: people and to leave, they were kind of off the

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Speaker 3: books and you know, living like in detried servants. This

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Speaker 3: is why the folks down in Georgia started calling people first.

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Speaker 3: It was kind of you know, health and safety checks,

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Speaker 3: health and welfare checks, to go and check in on them.

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Speaker 3: Then nothing kind of came together. If that's the issue,

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Speaker 3: particularly as you have this foreign capital coming back in.

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Speaker 3: Remember I'm no fan of foreign capital, but we've got

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Speaker 3: all these deals lined up. We'll trains of dollars coming in.

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Speaker 3: If the Germans like the Germans at the at the

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Speaker 3: Magnet plant, if you have to do it, then you

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Speaker 3: have to do it. And as Scott's saying, it's going

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Speaker 3: to be temporary, then hey, temporary. But let's one thing

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Speaker 3: I take my corporate margaret. If you ain't on them

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Speaker 3: about things like this, they're gonna they're gonna have a

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Speaker 3: workaround because they want cheaper labor. They don't like the

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Speaker 3: Americans attitude. They want cheaper labor, and they don't want

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Speaker 3: to pay health benefits or retirement. Pretty simple. It's a

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Speaker 3: big economic difference. But that's why I'm saying American citizens

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Speaker 3: got to come first here. You want to be the

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Speaker 3: arsenal of democracy. You want to grow families that create

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Speaker 3: young men and women that fought in these horrible wars

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Speaker 3: in Iraq and Afghanistan, Vietnam, Korea, let's say everything since

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Speaker 3: World War Two. You want to create those heroes that

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Speaker 3: y'all say thank you for your service. I tell you,

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Speaker 3: don't say thank you for your service. Get on a

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Speaker 3: company that's employing foreigners instead of American citizens every time

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Speaker 3: you go, and you should ask them the question. People

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Speaker 3: in the service, the last thing they need is your thanks.

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Speaker 3: They do it for their country, They do it for

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Speaker 3: their comrades and arms in the brotherhood of service. They

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Speaker 3: don't need to be thanked every day in serving in

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Speaker 3: those positions is a thank you? Ask every person that served,

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Speaker 3: you know, particularly most of the time it's in your

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Speaker 3: Some make it a career, but the ball go in

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Speaker 3: for some period of time in the twenties, and I

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Speaker 3: tell people, it's the best thing you could ever do,

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Speaker 3: the best thing you could ever do. So the country

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Speaker 3: itself by providing that opportunity you're getting to thank you.

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Speaker 3: You want to thank them. Make sure their families got

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Speaker 3: a you know, their dads and moms got a shot

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Speaker 3: to make a little money to raise them upright, Okay,

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Speaker 3: do that and take the economic anxiety away from it.

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Speaker 3: You want to build a strong country, do that?

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Speaker 8: Do that.

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Speaker 3: Don't give them a handout. They don't need a handout.

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Speaker 3: What they don't what they only thing they want is

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Speaker 3: not have the world come in here and compete against

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Speaker 3: them every day in their own fricking country that they

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Speaker 3: fought to defend and pay taxes for and built up.

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Speaker 3: That's why people are so angry about this, and they

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Speaker 3: should be angry about it. Okay, I got to play this.

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Speaker 3: And on top of all that, they're going to make

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Speaker 3: a bunch of genetic babies because they don't want to

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Speaker 3: see you anymore. Let's go in and play Can we

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Speaker 3: go and play Stephanie Rule from last night? And then

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Speaker 3: we'll bring some folks out. Let's go in and let

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Speaker 3: it rip.

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Speaker 4: For AI captures all of the headlines, there's another one

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Speaker 4: quietly brewing between Silicon Valley executives, the race to create

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Speaker 4: a bioengineered human being a child. The Wall Street Journal

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Speaker 4: has extraordinary reporting out that a small company backed by

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Speaker 4: none other than OpenAI chief Sam Altman, has spent months

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Speaker 4: pursuing a secret project for a genetically engineered baby. They're

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Speaker 4: working toward creating a child born from an embryo edited

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Speaker 4: to prevent a hereditary disease. Editing genes in embryos in

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Speaker 4: order to create babies is banned in the United States

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Speaker 4: of America, so the company called Preventive has been searching

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Speaker 4: for places to experiment where embryo editing is allowed, including

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Speaker 4: the United Emirates.

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Speaker 5: Sam Altman's family office and Coinbase co founder Brian Armstrong

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Speaker 5: are backing this company, Preventive, which as you mentioned, is

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Speaker 5: conducting pre clinical research to attempt to create a baby

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Speaker 5: from a genetically engineered embryo to prevent an hereditary disease.

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Speaker 5: Behind the scenes, the company has told people that a

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Speaker 5: couple had already been identified who was interested in participating

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Speaker 5: in the research.

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Speaker 4: Okay, you also report on a plan that is meant

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Speaker 4: to quote shock the world into acceptance on this What

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Speaker 4: can you tell us?

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Speaker 5: Brian Armstrong, the Coinbase co founder, floated a plan to

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Speaker 5: produce this baby in secret. A spokesperson for arms that's

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Speaker 5: like a horror I will say. A spokesperson for Armstrong

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Speaker 5: told us that he floated that plan only in order

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Speaker 5: to point out what a bad idea it was, and

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Speaker 5: he would never suggest that Preventive operate in that way.

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Speaker 4: Okay, so they're saying it's to prevent hereditary diseases, but

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Speaker 4: where's the line. How far before you get to make

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Speaker 4: sure the legs are long, the boobs are big, the

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Speaker 4: eyes are blown, they're super smart.

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Speaker 5: Well, another suite of startups that we reported on are

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Speaker 5: doing something slightly different than embryo editing, is called polygenic screening,

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Speaker 5: and some of those companies are already moving in that direction.

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Speaker 5: They say that they can give parents who are pursuing

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Speaker 5: IVF insight into their potential child's IQ height, eye color,

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Speaker 5: and a host of other traits, so that parents can

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Speaker 5: choose which embryos to implant based on that information. What's

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Speaker 5: the plan if it doesn't work, if the information is wrong, if.

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Speaker 4: The information is wrong, if this genetically modified embryo, if

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Speaker 4: a baby is born and something goes wildly wrong.

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Speaker 5: I think that's yet to be seen. These companies, the

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Speaker 5: embryo editing company Preventive, for one, it's far away, it says,

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Speaker 5: from trying to bring a baby to term with this technology.

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Speaker 9: Day they were determined that their next child would be

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Speaker 9: brought into the world in what has become the natural way.

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Speaker 10: Your extracted eggs Marie have been fertilized with Antonio's spar.

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Speaker 3: After screening, we are.

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Speaker 10: Left, as you see, with two healthy boys and two

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Speaker 10: very healthy girls, naturally no critical predispositions to any of

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Speaker 10: the major inheritable diseases. All that remains is.

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Speaker 9: To select the most compatible candidate.

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Speaker 3: First.

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Speaker 10: We may as want to side on gender. Have you

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Speaker 10: given it anything?

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Speaker 2: We would want Vincent to have a brother, you know,

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Speaker 2: to play with, of.

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Speaker 9: Course you would, Hello, Vincent, you have specified hazel eyes,

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Speaker 9: dark hair, and fair skin. I have taken the liberty

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Speaker 9: of eradicating any potentially prejudicial conditions pretty muchure baldness, myopia, alcoholism,

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Speaker 9: and addictive susceptibility, propensity for violence, obesity, et cetera.

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Speaker 11: We didn't want I mean, diseases, yes, but right we

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Speaker 11: were just wondering if it's good to just leave a

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Speaker 11: few things the chance.

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Speaker 4: I want to know. How's the company responding to your reporting.

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Speaker 5: The company says again that it's focused on pre clinical research.

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Speaker 5: It's focused on trying to prove the safety of embryo

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Speaker 5: editing before it does anything else. It says that it

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Speaker 5: is focused on transparency and that it believes that it

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Speaker 5: will act with high echo standards going forward.

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Speaker 4: I don't want to blow your story up, and I

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Speaker 4: want to be careful. How did they feel about this

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Speaker 4: story getting written?

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Speaker 8: Right?

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Speaker 4: There's lots of startup companies that are reaching out to

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Speaker 4: the media. They want their story told. Did they come

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Speaker 4: to you, well, did you come knocking on their door?

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Speaker 5: No, it's great that you asked that question. We came

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Speaker 5: knocking on their door when we started asking around about

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Speaker 5: this company people close to the company. We were trying

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Speaker 5: to figure out what the company was doing. A few

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Speaker 5: weeks later, there was a brand new website post on

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Speaker 5: the website rather saying we're preventive and we're here to

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Speaker 5: edit embryos, or at least research research embryo editing. When

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Speaker 5: we went to Brian Armstrong for comment, he tweeted a

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Speaker 5: few days later saying, I'm so excited to be an

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Speaker 5: investor and prevented.

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Speaker 4: On a second, back this up. You call the company

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Speaker 4: you asked for a comment, they do not open the door,

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Speaker 4: they do not call you back, and miraculously, out of

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Speaker 4: the blue, three days later he writes a tweet about it.

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Speaker 5: Yeah, I mean, I mean, I don't want to speculate

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Speaker 5: about what kind of conversations were going on behind the scenes,

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Speaker 5: but your summary of the timing is correct.

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Speaker 7: The thing that strikes me here is that, unlike prior

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Speaker 7: technological revolutions that took place, you know, this particular group,

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Speaker 7: the AI group, the tech pros, who want to move

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Speaker 7: fast and break things, think they know better and this

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Speaker 7: is a broad characterization than anyone else, and that ethics

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Speaker 7: be dammed and they will do what they want because

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Speaker 7: they can. It's like Ian Malcolm in Jurassic Park. Just

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Speaker 7: because you can doesn't mean you should. And I don't

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Speaker 7: think they take that to heart.

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Speaker 10: You want to give you a child the best possible

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Speaker 10: start believing we have enough imperfection built in already. Your

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Speaker 10: child isn't needing additional burdens.

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Speaker 9: And keep in mind this child is still you, simply

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Speaker 9: the best of you.

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Speaker 10: You could conceive naturally a thousand times and never get

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Speaker 10: such a result.

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Speaker 3: Brave New World, And that was Gatika the movie. I

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Speaker 3: thank my staff for just a brilliant cut and Stephanie

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Speaker 3: Rule in the Young report of the Wall Street Journal,

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Speaker 3: Let's not bury the lead. Stephanie Rule got it out

435
00:25:19,000 --> 00:25:24,080
Speaker 3: of her Armstrong the Coinbase guy with uh with Altman

436
00:25:25,440 --> 00:25:29,040
Speaker 3: two beauties. They were going to shock the world. Their

437
00:25:29,080 --> 00:25:31,959
Speaker 3: plan was to shock the world into acceptance. Do not

438
00:25:32,520 --> 00:25:35,040
Speaker 3: lose that phrase. They were going to shock the world

439
00:25:35,080 --> 00:25:37,479
Speaker 3: into acceptance because they were just going to do it

440
00:25:37,520 --> 00:25:42,160
Speaker 3: and present you with the fate a companye, a genetically

441
00:25:42,160 --> 00:25:50,200
Speaker 3: engineered and created baby. You ready for that, folks. The

442
00:25:50,200 --> 00:25:54,120
Speaker 3: the technology, the convergence on the singularity is accelerating at

443
00:25:54,119 --> 00:25:58,680
Speaker 3: an accelerating rate. You got people, the narcissists, with no ethics,

444
00:25:58,840 --> 00:26:02,560
Speaker 3: no morals, and no common and since half them on

445
00:26:02,600 --> 00:26:07,320
Speaker 3: the spectrum, more than half that have unlimited capital. Now

446
00:26:07,400 --> 00:26:09,600
Speaker 3: because of the way the capital markets have responded to this,

447
00:26:09,680 --> 00:26:13,159
Speaker 3: and it's pure speculation, but they understand big things can happen.

448
00:26:14,560 --> 00:26:17,119
Speaker 3: Armstrong was going to if han't been for this young reporter,

449
00:26:17,560 --> 00:26:20,240
Speaker 3: was going to shock the world into acceptance. How are

450
00:26:20,240 --> 00:26:22,879
Speaker 3: they going to do that? They're going to present the baby,

451
00:26:23,560 --> 00:26:25,480
Speaker 3: do it in total secret, and then present it to

452
00:26:25,480 --> 00:26:28,760
Speaker 3: the world. Remember they did the goat what thirty or

453
00:26:28,800 --> 00:26:30,959
Speaker 3: forty years ago and kind of in the world, we've

454
00:26:31,040 --> 00:26:34,399
Speaker 3: kind of banned this. In fact, the Chinese in China,

455
00:26:34,440 --> 00:26:36,399
Speaker 3: they put a guy in prison for ten years, not

456
00:26:36,480 --> 00:26:39,680
Speaker 3: because he was doing these experiments, because he was dumb enough,

457
00:26:39,680 --> 00:26:42,040
Speaker 3: according to the CCP, to talk about it at a

458
00:26:42,080 --> 00:26:47,080
Speaker 3: conference the mahad Make America Healthy Again. We're having a

459
00:26:47,119 --> 00:26:48,800
Speaker 3: conference over there in the clothes of the press. We

460
00:26:48,840 --> 00:26:53,680
Speaker 3: get some people over there. Some stuff's a little edge. Lord,

461
00:26:53,960 --> 00:26:56,080
Speaker 3: let's say short commercial break back in.

462
00:26:56,000 --> 00:27:03,160
Speaker 2: The warm in a moment, or here's your host, Stephen

463
00:27:03,280 --> 00:27:04,160
Speaker 2: k bat.

464
00:27:07,000 --> 00:27:09,440
Speaker 3: Okay, so that's a reality of what's going on. Let's talk.

465
00:27:09,480 --> 00:27:13,520
Speaker 3: We got Ryan Kennedy now from the Florida Citizen Alliance. Ryan,

466
00:27:13,600 --> 00:27:15,520
Speaker 3: talk to us about what citizens are doing down and

467
00:27:15,600 --> 00:27:18,640
Speaker 3: this is particularly about AI and chat GBT and you've

468
00:27:18,680 --> 00:27:22,639
Speaker 3: got we now have there's a story I want to

469
00:27:22,640 --> 00:27:25,679
Speaker 3: think in the New York Times about people becoming romantically

470
00:27:25,680 --> 00:27:29,440
Speaker 3: involved adults. I'm talking about people in their forties romantically

471
00:27:29,480 --> 00:27:34,760
Speaker 3: involved with I guess chatbots. There's also been people have

472
00:27:34,800 --> 00:27:37,800
Speaker 3: been sending me footage or particularly in Japan, people marrying

473
00:27:37,960 --> 00:27:42,679
Speaker 3: having marriage ceremonies around these chat bots. Ryan Kennedy, what

474
00:27:42,720 --> 00:27:45,320
Speaker 3: are you doing to protect young folks down the state

475
00:27:45,359 --> 00:27:45,840
Speaker 3: of Florida.

476
00:27:46,840 --> 00:27:49,520
Speaker 6: Thank you for having me on, Steve. Really, our focus

477
00:27:49,600 --> 00:27:52,040
Speaker 6: is trying to protect the young kids, just like you said,

478
00:27:52,320 --> 00:27:57,320
Speaker 6: from access to these chatbots and fut their data being

479
00:27:57,359 --> 00:28:00,760
Speaker 6: sold to the highest bid or truthfully, so we jumped

480
00:28:00,760 --> 00:28:04,320
Speaker 6: in because of the scary facts, just as you mentioned

481
00:28:04,320 --> 00:28:07,160
Speaker 6: in your last segment, amongst others. And what we're trying

482
00:28:07,200 --> 00:28:09,320
Speaker 6: to do is to put some guardrails in place to

483
00:28:09,400 --> 00:28:12,600
Speaker 6: protect parents' rights, to make sure that parents have to

484
00:28:12,640 --> 00:28:16,040
Speaker 6: opt their child in to before they're allowed to use

485
00:28:16,080 --> 00:28:20,399
Speaker 6: AI in a school setting, to require age verification and

486
00:28:20,560 --> 00:28:25,200
Speaker 6: ban children from under eighteen from using chatbots, and then

487
00:28:25,280 --> 00:28:30,119
Speaker 6: also to protect their student data and their children's data,

488
00:28:30,480 --> 00:28:32,479
Speaker 6: make sure that parents are control of it, and make

489
00:28:32,520 --> 00:28:36,800
Speaker 6: sure that what's being taught in schools doesn't conflict with

490
00:28:37,240 --> 00:28:39,080
Speaker 6: what we've already passed here in Florida and with our

491
00:28:39,120 --> 00:28:40,640
Speaker 6: Western civilizational worldview.

492
00:28:42,160 --> 00:28:45,200
Speaker 3: So what me through is this the schools in Florida.

493
00:28:45,240 --> 00:28:50,680
Speaker 3: Is there any guidance at all on this technology in

494
00:28:51,000 --> 00:28:54,600
Speaker 3: this card in the Florida school system at all? No?

495
00:28:54,600 --> 00:28:57,000
Speaker 6: No, right now, it's the wild West here in Florida.

496
00:28:57,040 --> 00:29:01,720
Speaker 6: School districts are having pilot programs bringing in AI. It's

497
00:29:01,800 --> 00:29:07,120
Speaker 6: already on all the devices obviously, as you know, Steve computers, tablets, chromebooks,

498
00:29:08,040 --> 00:29:12,400
Speaker 6: so many students have access to these devices and AI

499
00:29:12,560 --> 00:29:15,320
Speaker 6: is already been integrated into those devices, So it's a

500
00:29:15,400 --> 00:29:18,720
Speaker 6: wild west. There is no clear guidance on what school

501
00:29:18,760 --> 00:29:21,040
Speaker 6: districts can and can't do, and so we're trying to

502
00:29:21,040 --> 00:29:25,040
Speaker 6: put some in place because we believe that miners need

503
00:29:25,080 --> 00:29:27,840
Speaker 6: to be protected. Our up and coming generation need to

504
00:29:27,840 --> 00:29:31,000
Speaker 6: be protected from the very things that you've mentioned on

505
00:29:31,040 --> 00:29:32,280
Speaker 6: your SoC so many times.

506
00:29:36,480 --> 00:29:38,840
Speaker 3: This is the reason that they wanted this mandate, that

507
00:29:38,920 --> 00:29:41,040
Speaker 3: no state could ever come up with anything that could

508
00:29:41,040 --> 00:29:44,960
Speaker 3: have slow down the progress. Do you view what you're

509
00:29:44,960 --> 00:29:48,280
Speaker 3: trying to put in to this as slowing down the

510
00:29:48,320 --> 00:29:51,840
Speaker 3: development of artificial intelligence or is it just the applications

511
00:29:52,480 --> 00:29:58,120
Speaker 3: where it deals with children of citizens of Florida. Well,

512
00:29:58,160 --> 00:29:59,760
Speaker 3: I think it could serve both.

513
00:30:00,080 --> 00:30:02,880
Speaker 6: We definitely wanted to be setting a stage and a

514
00:30:02,920 --> 00:30:05,480
Speaker 6: pathway for the rest of the nation to follow. It

515
00:30:05,520 --> 00:30:08,680
Speaker 6: will protect students and it will protect minors, and so

516
00:30:08,760 --> 00:30:11,240
Speaker 6: for that reason, yes, we do believe that it may

517
00:30:13,000 --> 00:30:16,640
Speaker 6: slow down its development when it comes to the application

518
00:30:16,720 --> 00:30:19,600
Speaker 6: of children, but really we're just trying to protect them.

519
00:30:19,720 --> 00:30:22,920
Speaker 6: We're trying to make sure that children who do not

520
00:30:23,200 --> 00:30:25,760
Speaker 6: know and don't have a developed brain yet fully don't

521
00:30:25,960 --> 00:30:27,880
Speaker 6: end up doing something that's going to have a long

522
00:30:27,960 --> 00:30:31,480
Speaker 6: term effect. We know with social media we were so

523
00:30:31,680 --> 00:30:34,320
Speaker 6: behind on that, and we do not want to be

524
00:30:34,320 --> 00:30:36,960
Speaker 6: behind on AI. We do not want the effects of

525
00:30:37,000 --> 00:30:40,520
Speaker 6: AI to impact children like it, like socialita.

526
00:30:42,080 --> 00:30:44,560
Speaker 3: How could anybody oppose this? Are the tech companies all

527
00:30:44,600 --> 00:30:46,240
Speaker 3: over you guys right now saying you're a bunch of

528
00:30:46,320 --> 00:30:49,240
Speaker 3: luddites and you're going to hurt the economy of Florida

529
00:30:49,280 --> 00:30:52,400
Speaker 3: because if you have these restrictions, AI companies are going

530
00:30:52,440 --> 00:30:55,080
Speaker 3: to want to pull out or not have their products

531
00:30:55,160 --> 00:30:59,920
Speaker 3: or services used in the state of Florida. Well, what we've.

532
00:30:59,800 --> 00:31:03,960
Speaker 6: Heard so far is that there is some, thankfully, some

533
00:31:04,120 --> 00:31:06,480
Speaker 6: legislators that want to stand up and who want to

534
00:31:06,520 --> 00:31:10,200
Speaker 6: do the right thing. We of course welcome any kind

535
00:31:10,240 --> 00:31:13,360
Speaker 6: of conversation with those who want to talk to us,

536
00:31:13,560 --> 00:31:15,760
Speaker 6: but we want to make sure that our children are protected.

537
00:31:15,800 --> 00:31:18,800
Speaker 6: That's what our primary focus is in our organization, and

538
00:31:18,880 --> 00:31:21,480
Speaker 6: that's what we're trying to do with these slate of

539
00:31:21,560 --> 00:31:22,719
Speaker 6: legislative initiatives.

540
00:31:25,240 --> 00:31:28,400
Speaker 3: One more time, just give the three legislative initiatives, and

541
00:31:28,440 --> 00:31:31,320
Speaker 3: then I want to give us your coordins on social media,

542
00:31:31,360 --> 00:31:34,320
Speaker 3: particularly a website somebody can go to and drill down themselves,

543
00:31:34,360 --> 00:31:35,680
Speaker 3: so what are the three again?

544
00:31:36,600 --> 00:31:39,520
Speaker 6: Yes, opt in to make sure parents have to consent

545
00:31:39,680 --> 00:31:43,120
Speaker 6: before their child uses AI in the schools age verification,

546
00:31:43,280 --> 00:31:46,360
Speaker 6: and then banning AI chatbots for those that are eighteen.

547
00:31:46,720 --> 00:31:49,320
Speaker 6: And then lastly, to make sure that the data that

548
00:31:49,400 --> 00:31:52,200
Speaker 6: is being collected by AI, but also the data that's

549
00:31:52,240 --> 00:31:57,240
Speaker 6: being put out by AID responses comply with all of

550
00:31:57,240 --> 00:32:00,000
Speaker 6: our state laws here in Florida and our federal laws

551
00:32:00,040 --> 00:32:00,480
Speaker 6: as well.

552
00:32:01,840 --> 00:32:04,040
Speaker 3: Have you had a chance to talk to Governor DeSantis

553
00:32:04,120 --> 00:32:06,280
Speaker 3: or anybody in the in the in the administration then

554
00:32:06,360 --> 00:32:06,840
Speaker 3: in Florida.

555
00:32:07,640 --> 00:32:10,680
Speaker 6: Yeah, So Governor DeSantis says he wants to work on

556
00:32:10,720 --> 00:32:14,440
Speaker 6: this issue. We haven't talked directly with him, but we

557
00:32:14,520 --> 00:32:16,680
Speaker 6: have We know he's trying to do something with it.

558
00:32:17,320 --> 00:32:19,800
Speaker 6: We of course welcome any kind of conversation we can

559
00:32:19,840 --> 00:32:22,640
Speaker 6: have because again, we want to make sure we protect

560
00:32:22,640 --> 00:32:23,160
Speaker 6: our children.

561
00:32:25,320 --> 00:32:27,520
Speaker 3: Ryan social media website where do people go?

562
00:32:28,800 --> 00:32:32,600
Speaker 6: So LFLCA dot org is our website. There you can

563
00:32:32,640 --> 00:32:36,480
Speaker 6: access all of our information. And our Instagram is fl

564
00:32:36,680 --> 00:32:40,680
Speaker 6: dot Citizens dot Alliance and that's where you can go

565
00:32:40,680 --> 00:32:42,520
Speaker 6: to find out more information about what we're working on.

566
00:32:43,840 --> 00:32:46,400
Speaker 3: Thank you, sir, appreciate you. We'll have you back on

567
00:32:46,480 --> 00:32:48,280
Speaker 3: as this fight continues because it's going to be a

568
00:32:48,320 --> 00:32:50,720
Speaker 3: big one and they're not. They're going to look at

569
00:32:50,760 --> 00:32:53,320
Speaker 3: citizen groups and citizens and say, hey, you guys are

570
00:32:53,360 --> 00:32:57,720
Speaker 3: just you just what is it? Chris for the mill,

571
00:32:59,120 --> 00:33:01,600
Speaker 3: Ryan Newhouse joins us. Ryan, you put out a tweet

572
00:33:01,600 --> 00:33:04,120
Speaker 3: I think it was last night they'd walked through about

573
00:33:04,120 --> 00:33:08,360
Speaker 3: the Republican Party, particularly the traditional didn't just fold, they collapse,

574
00:33:08,480 --> 00:33:10,560
Speaker 3: walk me through. I want to put up if my

575
00:33:11,160 --> 00:33:14,440
Speaker 3: tremendous production staff here and in Denver, the real America's

576
00:33:14,480 --> 00:33:18,000
Speaker 3: voice can put it up, walk us through the essence

577
00:33:18,080 --> 00:33:19,320
Speaker 3: of what you were saying on this sir.

578
00:33:20,440 --> 00:33:22,440
Speaker 11: Yeah, thanks Steve. It's great to be with the War

579
00:33:22,520 --> 00:33:24,800
Speaker 11: Room posse. Big fan of you guys in your work.

580
00:33:24,840 --> 00:33:27,600
Speaker 11: You guys are awesome. So there's a debate going on

581
00:33:27,840 --> 00:33:30,520
Speaker 11: amongst you know, you could say kan inc and the

582
00:33:30,600 --> 00:33:34,560
Speaker 11: younger generation about the effectiveness of the last forty years

583
00:33:34,560 --> 00:33:37,360
Speaker 11: and what we've accomplished or quote unquote what we've managed

584
00:33:37,400 --> 00:33:40,239
Speaker 11: to conserve. And I think you know, earlier in your

585
00:33:40,280 --> 00:33:44,719
Speaker 11: segment today you had Scott Besstt talking about we need

586
00:33:44,760 --> 00:33:47,440
Speaker 11: to make America affordable again, and that's core to what

587
00:33:47,520 --> 00:33:50,920
Speaker 11: the younger generation is seeing and is concerned with and

588
00:33:51,000 --> 00:33:53,520
Speaker 11: to the root of this debate. So you see in

589
00:33:53,560 --> 00:33:56,160
Speaker 11: that tweet, you know, I know a seriously statistics, and

590
00:33:56,200 --> 00:33:58,360
Speaker 11: we could cherry pit statistics all day long. We could

591
00:33:58,400 --> 00:34:01,360
Speaker 11: talk through you know, what has and hasn't worked from

592
00:34:01,400 --> 00:34:05,440
Speaker 11: a policy lens. But the bottom line, Steve, is that

593
00:34:06,320 --> 00:34:07,600
Speaker 11: at the end of the day, if you go to

594
00:34:07,640 --> 00:34:11,200
Speaker 11: everyday Americans and you ask them.

595
00:34:10,480 --> 00:34:12,920
Speaker 3: Is life affordable for you? Do you have hope for

596
00:34:12,960 --> 00:34:13,480
Speaker 3: your future?

597
00:34:14,280 --> 00:34:16,480
Speaker 11: Are you interested in getting married and having more kids

598
00:34:16,480 --> 00:34:19,279
Speaker 11: than you can afford? Along the line that message that

599
00:34:19,360 --> 00:34:21,759
Speaker 11: Charlie and Turning Point USA and Benny Johnson and others

600
00:34:21,760 --> 00:34:25,279
Speaker 11: are so good promoting, the answer is typically, you know,

601
00:34:25,800 --> 00:34:27,839
Speaker 11: I would like to, but right now it feels out

602
00:34:27,840 --> 00:34:28,160
Speaker 11: of reach.

603
00:34:28,360 --> 00:34:29,080
Speaker 3: And that's a problem.

604
00:34:29,120 --> 00:34:30,960
Speaker 11: And I think that's because con INC for a lot

605
00:34:31,000 --> 00:34:34,640
Speaker 11: of times has simply managed a client instead of actually

606
00:34:35,160 --> 00:34:37,480
Speaker 11: engaging in an offensive playbook for the American people.

607
00:34:39,000 --> 00:34:40,560
Speaker 3: So what do you mean by that? Tell me about

608
00:34:40,560 --> 00:34:43,400
Speaker 3: this debate between kan INC or are they putting forward

609
00:34:43,440 --> 00:34:45,799
Speaker 3: that they've had a tremendous run of victories and that

610
00:34:46,360 --> 00:34:48,440
Speaker 3: their view of the economy because they come at at

611
00:34:48,800 --> 00:34:52,960
Speaker 3: this is what I'm saying about the political races, particularly

612
00:34:53,000 --> 00:34:56,839
Speaker 3: in New Jersey and maybe even slave one in New York,

613
00:34:56,880 --> 00:35:01,960
Speaker 3: although he failcus mainly on culture and crime in New Jersey,

614
00:35:02,320 --> 00:35:04,480
Speaker 3: et cetera. Rally ran it very traditional. It could have

615
00:35:04,520 --> 00:35:06,680
Speaker 3: been run in the nineteen eighties and nineteen nineties about

616
00:35:06,680 --> 00:35:10,120
Speaker 3: tax cuts and about the size of the New Jersey government.

617
00:35:10,160 --> 00:35:12,600
Speaker 3: Obviously taxes are too high and the government's too out

618
00:35:12,640 --> 00:35:14,520
Speaker 3: of control there, but he didn't really get to the

619
00:35:14,560 --> 00:35:16,880
Speaker 3: heart of any of the other issues, and particularly property

620
00:35:16,920 --> 00:35:19,279
Speaker 3: tax and other things. Virginia was the same way. The

621
00:35:19,640 --> 00:35:22,760
Speaker 3: gubernatorial candidate the kind of ran all on cultural issues

622
00:35:23,160 --> 00:35:26,880
Speaker 3: that are very important, particularly transgender ideology, but really no

623
00:35:27,040 --> 00:35:30,640
Speaker 3: discussion that the kaninc. Are they saying they've they've had

624
00:35:30,640 --> 00:35:32,480
Speaker 3: a string of victories and we should just go along

625
00:35:32,520 --> 00:35:37,120
Speaker 3: with what their plan is about free trade in neoliberal,

626
00:35:37,160 --> 00:35:40,480
Speaker 3: neo con economic and national security policies.

627
00:35:41,680 --> 00:35:43,640
Speaker 11: Yeah, Steve, that's exactly what they're doing. And if you

628
00:35:43,680 --> 00:35:46,279
Speaker 11: look at that tweet that I was responding to, it

629
00:35:46,320 --> 00:35:50,239
Speaker 11: was a series of policy victories, so to speak. On

630
00:35:51,320 --> 00:35:54,520
Speaker 11: the popularity of homeschooling now, well, homeschooling has become more

631
00:35:54,520 --> 00:35:57,319
Speaker 11: popular because our public education system is how to train

632
00:35:57,440 --> 00:36:01,480
Speaker 11: run through it by cultural Marxism in America. There's a

633
00:36:01,520 --> 00:36:04,040
Speaker 11: claim that in that thread that suggests that because the

634
00:36:04,040 --> 00:36:07,359
Speaker 11: marginal tax rate is lower, Americans have more prosperity than ever.

635
00:36:07,840 --> 00:36:11,560
Speaker 3: It's just factually not true. I mean, lower taxes.

636
00:36:11,239 --> 00:36:14,040
Speaker 11: Are good, as you're saying, Steve, and we should campaign

637
00:36:14,040 --> 00:36:16,680
Speaker 11: on those things. But we're kidding ourselves if we don't

638
00:36:16,680 --> 00:36:19,880
Speaker 11: acknowledge that while we've cut the tax rate since nineteen eighty,

639
00:36:20,040 --> 00:36:23,160
Speaker 11: the dollar has lost three quarters of its value. The

640
00:36:23,239 --> 00:36:26,520
Speaker 11: median home now costs six times the median income of

641
00:36:26,520 --> 00:36:30,200
Speaker 11: an American. A new car in America eats up seventy

642
00:36:30,239 --> 00:36:34,720
Speaker 11: percent of a households yearly pay. Intuition for higher education

643
00:36:35,000 --> 00:36:38,279
Speaker 11: has sorted over twelve hundred percent. We've got a nation

644
00:36:38,360 --> 00:36:41,279
Speaker 11: where two incomes barely buy what one used to, and

645
00:36:41,360 --> 00:36:43,520
Speaker 11: a generation of young Americans who feel like they've been

646
00:36:43,600 --> 00:36:47,239
Speaker 11: lied to, and because of that, they're seeking, you know,

647
00:36:47,320 --> 00:36:50,160
Speaker 11: an alternative playbook. And that is why the rise of

648
00:36:50,160 --> 00:36:52,320
Speaker 11: guys like Mom Donnie is occurrent.

649
00:36:53,800 --> 00:36:56,080
Speaker 3: No, this is why they've never really seen the benefits

650
00:36:56,120 --> 00:36:59,719
Speaker 3: of capitalism, because they never understood, they've never actually lived under.

651
00:37:00,320 --> 00:37:03,360
Speaker 3: This is all corporatism, as you put those statistics out,

652
00:37:04,000 --> 00:37:07,360
Speaker 3: particularly in the universe of the the the narrative combat

653
00:37:08,000 --> 00:37:11,759
Speaker 3: of Twitter. What what pushback do you get from conservative Inc?

654
00:37:13,280 --> 00:37:14,439
Speaker 3: On those statistics?

655
00:37:14,719 --> 00:37:15,080
Speaker 10: I haven't.

656
00:37:15,120 --> 00:37:16,960
Speaker 3: I haven't received it. So just when you say that

657
00:37:17,080 --> 00:37:19,879
Speaker 3: you talk about prosperity the American family and the prosperity

658
00:37:20,280 --> 00:37:24,759
Speaker 3: of the individual given the policies of of Bush, of

659
00:37:24,880 --> 00:37:28,520
Speaker 3: Bush and h you know, both Bushes when we had control.

660
00:37:28,800 --> 00:37:30,719
Speaker 3: What pushback do you get from Conservative Inc.

661
00:37:32,480 --> 00:37:34,080
Speaker 11: I think when you look at the data, you can't

662
00:37:34,120 --> 00:37:37,120
Speaker 11: really wrestle with it in a way that's legitimate. I

663
00:37:37,120 --> 00:37:40,480
Speaker 11: think the data is true, it's factual, and because of that,

664
00:37:40,800 --> 00:37:43,840
Speaker 11: I haven't received a ton of pushback on specific data points.

665
00:37:44,880 --> 00:37:46,440
Speaker 3: I think you can go out and find them yourselves.

666
00:37:46,600 --> 00:37:50,960
Speaker 3: Is it interested? What? What is this? This new generation

667
00:37:51,080 --> 00:37:54,920
Speaker 3: of kind of populist economic nationalists? What is you know,

668
00:37:55,360 --> 00:37:57,359
Speaker 3: what's your primary What's are one or two things when

669
00:37:57,360 --> 00:38:00,520
Speaker 3: you talk to young people your age that are capitalist

670
00:38:00,760 --> 00:38:03,160
Speaker 3: right in? Free market capitalists? What are the couple things

671
00:38:03,600 --> 00:38:04,800
Speaker 3: that you guys want most?

672
00:38:06,680 --> 00:38:09,920
Speaker 11: Yeah, so I think you know what my generation wants

673
00:38:10,239 --> 00:38:13,320
Speaker 11: is to stop measuring success the same way that corporate

674
00:38:13,360 --> 00:38:16,840
Speaker 11: America measures success in the United States, we've been measuring

675
00:38:16,840 --> 00:38:20,600
Speaker 11: success of our movement via GDP and stock prices. Those

676
00:38:20,600 --> 00:38:23,000
Speaker 11: things are good to an extent, but they're not sufficient.

677
00:38:23,320 --> 00:38:26,520
Speaker 11: We need to measure for purposes of success, how many

678
00:38:26,600 --> 00:38:30,040
Speaker 11: families are being formed? Are they strong? Can you have

679
00:38:30,120 --> 00:38:33,160
Speaker 11: families raised on a single income. Can a young family

680
00:38:33,239 --> 00:38:36,239
Speaker 11: purchase a home instead of being raised in a high

681
00:38:36,360 --> 00:38:40,120
Speaker 11: rise apartment building in an urban sprawl. These are the

682
00:38:40,200 --> 00:38:45,279
Speaker 11: kinds of questions and measurements that indicate a thriving civilization

683
00:38:45,719 --> 00:38:48,279
Speaker 11: that people in my generation are more concerned about rather

684
00:38:48,360 --> 00:38:50,400
Speaker 11: than what does my four oh one K look like

685
00:38:50,520 --> 00:38:50,959
Speaker 11: right now?

686
00:38:51,200 --> 00:38:54,560
Speaker 3: And is this a black Monday for the stock market?

687
00:38:55,960 --> 00:38:56,200
Speaker 8: Ryan?

688
00:38:56,239 --> 00:38:58,560
Speaker 3: Where do people go on social media to track you down?

689
00:38:58,560 --> 00:38:58,680
Speaker 1: Sir?

690
00:38:59,080 --> 00:39:04,319
Speaker 3: You're some your Your Twitter threads are quite quittin press

691
00:39:04,360 --> 00:39:06,600
Speaker 3: of where they go. Thanks.

692
00:39:07,200 --> 00:39:11,200
Speaker 11: You can follow me at Ryan M Newhouse. That's my

693
00:39:11,280 --> 00:39:12,240
Speaker 11: handle on Twitter.

694
00:39:13,480 --> 00:39:17,839
Speaker 3: Thank you, sir. Appreciate you make America great again by

695
00:39:17,880 --> 00:39:21,400
Speaker 3: making families strong again. This is the whole purpose. It

696
00:39:21,440 --> 00:39:25,480
Speaker 3: takes us back to the beginning segment right right now,

697
00:39:25,600 --> 00:39:28,839
Speaker 3: this generation, you know, the family formation is so late

698
00:39:30,280 --> 00:39:33,440
Speaker 3: because of the financialization we've done. President, It's got some

699
00:39:33,520 --> 00:39:35,920
Speaker 3: of the biggest folks on Wall Street with him tonight.

700
00:39:36,719 --> 00:39:38,040
Speaker 3: I think one of the first things we want to

701
00:39:38,040 --> 00:39:40,160
Speaker 3: do is like, hey, why don't we get them out

702
00:39:40,280 --> 00:39:44,799
Speaker 3: of the buying of residential homes for a while. Let

703
00:39:44,840 --> 00:39:47,600
Speaker 3: that market settle down, because it kind of plays like

704
00:39:47,760 --> 00:39:50,920
Speaker 3: the Great Reset that you're not going to own anything,

705
00:39:50,960 --> 00:39:53,439
Speaker 3: You're gonna be happy with it. The private equity guys

706
00:39:53,480 --> 00:39:55,239
Speaker 3: are going to own the underlying land and own the

707
00:39:55,320 --> 00:39:59,080
Speaker 3: under own the owned the structure, owned the home. You're

708
00:39:59,160 --> 00:40:01,200
Speaker 3: essentially going to run it. So they're going to be

709
00:40:01,239 --> 00:40:03,799
Speaker 3: able to pay down that mortgage with your rent and

710
00:40:03,840 --> 00:40:06,919
Speaker 3: then keep the upside as the house appreciates over time.

711
00:40:07,680 --> 00:40:10,759
Speaker 3: Maybe not the best solution, right, Maybe there's a different way.

712
00:40:11,320 --> 00:40:12,880
Speaker 3: I'm sure they're going to talk about those types of

713
00:40:12,880 --> 00:40:17,120
Speaker 3: things tonight. Scott Bessant right there talking about the entire apparatus,

714
00:40:17,200 --> 00:40:22,279
Speaker 3: particularly the financing of these massive deficits. That and this

715
00:40:22,360 --> 00:40:25,600
Speaker 3: is what this whole shutdown is about. It looks like

716
00:40:25,760 --> 00:40:28,640
Speaker 3: the Democrats have caved. Now there's gonna be big issues

717
00:40:28,640 --> 00:40:33,200
Speaker 3: about obamacares version of what's going to happen. President Trump

718
00:40:33,200 --> 00:40:36,160
Speaker 3: say he's gonna come out with an alternative. But the

719
00:40:36,200 --> 00:40:38,279
Speaker 3: two key things is Number one. We've got to be

720
00:40:38,280 --> 00:40:42,359
Speaker 3: able to reinstitute taking apart the administrative state. You can't

721
00:40:42,400 --> 00:40:46,239
Speaker 3: block RUSS vote. I think I can't block RUSS vote

722
00:40:46,239 --> 00:40:47,879
Speaker 3: in these guys from going to work. They've done such

723
00:40:47,920 --> 00:40:50,120
Speaker 3: a great job so far. We've got to close the

724
00:40:50,200 --> 00:40:52,200
Speaker 3: gap in these deficits if you're not going to raise

725
00:40:52,200 --> 00:40:55,880
Speaker 3: taxes or have other revenue streams. Although tariffs looks like

726
00:40:55,960 --> 00:40:58,040
Speaker 3: it's going to be a big one short commercial break

727
00:40:58,040 --> 00:40:59,000
Speaker 3: back in the warm in a moment.

728
00:41:01,520 --> 00:41:03,719
Speaker 2: Here's your host, Stephen k Back.

729
00:41:06,520 --> 00:41:10,680
Speaker 3: Okay, we're going to continue this conversation tonight at five o'clock.

730
00:41:11,040 --> 00:41:14,000
Speaker 3: Natalie's going to join me tonight. Like last night, I

731
00:41:14,000 --> 00:41:16,880
Speaker 3: thought that was spectacular. So we got a lot to

732
00:41:16,920 --> 00:41:18,759
Speaker 3: go through all day and a lot more of that's

733
00:41:18,800 --> 00:41:22,000
Speaker 3: going on. We'll have a breakdown of of Scott Besson,

734
00:41:22,040 --> 00:41:28,279
Speaker 3: also some geopolitics Ukraine and the largest aircraft carry we

735
00:41:28,719 --> 00:41:34,719
Speaker 3: have is now joining the battlegroup down off of Venezuela,

736
00:41:34,920 --> 00:41:37,040
Speaker 3: So that thing is we got to walk through that,

737
00:41:37,200 --> 00:41:39,080
Speaker 3: so the audience fully up to speed on what's going on.

738
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Speaker 3: All family pharmacy. Like I said, Maha is having this

739
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740
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Speaker 3: do some reporting maybe back in the studio this afternoon,

741
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Speaker 3: also about what's going on with the Make America Healthy

742
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Speaker 3: like these folks, very easy to work with. Home title Locke. Also,

765
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Speaker 3: you know this whole fight about the you know fifty

766
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Speaker 3: your mortgages and you know family formation. We just had

767
00:43:19,600 --> 00:43:23,360
Speaker 3: Ryan on talking about that. You know, family formation is

768
00:43:23,400 --> 00:43:25,200
Speaker 3: coming so late in life now. I think the buyer

769
00:43:25,280 --> 00:43:28,080
Speaker 3: first time home is now forty years old. Used to

770
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771
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Speaker 3: If you're lucky enough to own a home, every dream

772
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773
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774
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Speaker 3: you know, eighty percent of your maybe ninety percent of

775
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776
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777
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778
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Speaker 3: gold a couple of years ago, although there's still plenty

779
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783
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Speaker 3: it's trillions of dollars and the system that protects you

784
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788
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789
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Speaker 3: Steve talk to Natalie Domingus and the team. They make themselves.

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Speaker 3: They hired Natalie just basically to do this a couple

794
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795
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Speaker 3: really appreciates the fact people come in and ask a

796
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Speaker 3: bunch of questions. Because once you ask a bunch of

797
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Speaker 3: Home title dock dot com promo code Steve, We're going

799
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Speaker 3: to get back into visas back into America, workers back

800
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Speaker 3: into this economic plan. President, Like I said, we've made

801
00:45:03,760 --> 00:45:08,440
Speaker 3: a bet. They've done tremendous risk mitigation here is going

802
00:45:08,480 --> 00:45:10,480
Speaker 3: to take time to grind out. I think that's why

803
00:45:10,520 --> 00:45:12,640
Speaker 3: they just got to promulgate more and more information. The

804
00:45:12,680 --> 00:45:16,280
Speaker 3: more and more people understand this, particularly not just MAGA,

805
00:45:16,320 --> 00:45:19,440
Speaker 3: but the more and more that more traditional Republicans and

806
00:45:19,520 --> 00:45:23,040
Speaker 3: independence and working class, middle class Democrats, they're going to

807
00:45:23,080 --> 00:45:25,200
Speaker 3: sit there go this is a pretty reasonable bet, and

808
00:45:25,239 --> 00:45:27,040
Speaker 3: I can start to see this working. What you have

809
00:45:27,080 --> 00:45:28,720
Speaker 3: to do is track all of it you can, particularly

810
00:45:28,760 --> 00:45:32,200
Speaker 3: the capital. Remember this is a program that focused on

811
00:45:32,280 --> 00:45:35,960
Speaker 3: bringing high value added manufacturing jobs back here to the

812
00:45:36,040 --> 00:45:38,960
Speaker 3: United States of America. It's not going to happen overnight,

813
00:45:39,000 --> 00:45:40,600
Speaker 3: but it's happening. And that's why you got to have

814
00:45:40,640 --> 00:45:42,440
Speaker 3: the workers training. People got to be ready to go.

815
00:45:42,640 --> 00:45:46,200
Speaker 3: Everybody understands that, and what Scott throughout on Fox today

816
00:45:46,239 --> 00:45:48,399
Speaker 3: I thought was very intriguing, and of course we're talking

817
00:45:48,440 --> 00:45:52,320
Speaker 3: to Treasury to get some more details on it. Mike Lindell,

818
00:45:53,120 --> 00:45:55,560
Speaker 3: you know there's all kinds of reporting on now. We

819
00:45:55,640 --> 00:45:58,760
Speaker 3: start off with about the Grand Conspiracy and how people

820
00:45:58,880 --> 00:46:01,240
Speaker 3: you know, there are now people the just department focused

821
00:46:01,280 --> 00:46:04,359
Speaker 3: on this. You were one of the targets. You live

822
00:46:04,400 --> 00:46:07,399
Speaker 3: to fight another day. More importantly, your company has lived

823
00:46:07,400 --> 00:46:10,560
Speaker 3: to fight another day, particularly all the hard working folks

824
00:46:11,000 --> 00:46:13,120
Speaker 3: in your call centers, which they've tried to shut down,

825
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Speaker 3: and on the factory floor of my pillow. What do

826
00:46:15,560 --> 00:46:17,200
Speaker 3: you got for us to day? Sir? I'm in the

827
00:46:17,320 --> 00:46:20,759
Speaker 3: buying mood. So where do we go? What do we do?

828
00:46:20,840 --> 00:46:22,359
Speaker 3: What are we buying here?

829
00:46:22,480 --> 00:46:23,399
Speaker 8: Here's what we're doing.

830
00:46:23,440 --> 00:46:25,359
Speaker 3: Everybody, we're gonna have for.

831
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Speaker 8: This is exclusive. These all these sold out last year.

832
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Speaker 8: It's our five pack. It's out five These are all

833
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Speaker 8: go anywhere my pillows. They're all for Christmas for you

834
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Speaker 8: got five Christmas gifts in one for twenty nine to

835
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Speaker 8: ninety eight. It's the lowest price in history. Where we're

836
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Speaker 8: going to offer it, just to the war room policy.

837
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Speaker 8: You guys get them. Once they're gone, they're gone. We've

838
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Speaker 8: gotten in so many that we came in the other

839
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Speaker 8: day and this is our patent, my pillow go Anywhere pillows.

840
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Speaker 8: And then you have the five separate covers. They all

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Speaker 8: tell stories in the Bible. They've got for your grandkids, whatever,

842
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843
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Speaker 8: back of the pillar. It's got everything written there, that

844
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Speaker 8: story of Noah's Ark. And then but you have the

845
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Speaker 8: collection of all five. They all come separate separately in

846
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Speaker 8: the in the box, so you have five separate Christmas gifts.

847
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Speaker 8: It's a great early Black Friday special. So go to

848
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Speaker 8: my pillow dot com forward slash warroom. By the way,

849
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Speaker 8: if you bought these all separately, they'd be two hundred dollars.

850
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Speaker 8: You get them for twenty nine ninety eight, all five,

851
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Speaker 8: and you guys, have we left up the blowout sale

852
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Speaker 8: on the my pillows and then you have our geez

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Speaker 8: go there. And then we still we left up there

856
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Speaker 8: for the main the USA sale. We did leave up

857
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Speaker 8: the mattresses and the mattress toppers you guys to get

858
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Speaker 8: to take you guys, we left those up with free

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Speaker 8: shipping so you guys get pre shipping on those big

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Speaker 8: ticket items up. Those up with pre shipping, so you

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865
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Speaker 8: guarantee all the way to March first of twenty twenty

868
00:48:23,880 --> 00:48:24,439
Speaker 8: thix wow.

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00:48:24,480 --> 00:48:28,560
Speaker 3: Promo code warrow um a coode war. Wow. That's a

870
00:48:28,640 --> 00:48:30,880
Speaker 3: good for what that's six months? Five months? Do the

871
00:48:30,880 --> 00:48:34,359
Speaker 3: math for me five months. See, we'll see you back here.

872
00:48:34,400 --> 00:48:35,839
Speaker 3: I'll tell you them. I ask you the math question

873
00:48:35,920 --> 00:48:39,080
Speaker 3: at five o'clock, Michael, and they'll be back Furcas. The

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00:48:39,239 --> 00:48:42,279
Speaker 3: Charlie Kirk Show follows us Andrew and the team will

875
00:48:42,280 --> 00:48:46,680
Speaker 3: be there today Postso at two, Gruber at three, the

876
00:48:46,719 --> 00:48:49,000
Speaker 3: Great Eric Bowling at four, and you're back in the

877
00:48:49,000 --> 00:48:52,680
Speaker 3: war room at five pm Eastern Standard time today. And

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00:48:52,760 --> 00:48:55,160
Speaker 3: that would be with me. And if we break down

879
00:48:56,680 --> 00:48:59,520
Speaker 3: efforts to about these visas, that's spuation. See that