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

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Speaker 2: So we had some other very interesting comments from President

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Speaker 2: Trump at this G seven summit, talking more about his

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Speaker 2: thinking in ending the Iran War, saying he did not

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Speaker 2: want to be thought of like Herbert Hoover.

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Speaker 4: Let's take a listen.

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Speaker 3: Herbert Hoover.

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Speaker 5: I was always the one I didn't want to be.

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Speaker 5: I wouldn't have preferred Nixon, I wouldn't have preferred Plenty,

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Speaker 5: I wouldn't prefer but the one I always thought of

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Speaker 5: Herbert Hoover.

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Speaker 3: And he caused it.

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Speaker 5: He raised taxes too fast, and he raised interest rates

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Speaker 5: too fast, all at the same time, and it caused

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Speaker 5: the Great Depression. So I don't think I'll make mistakes

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Speaker 5: like that, I lower taxes, that I'll raise taxes. In fact,

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Speaker 5: we just gave you the largest tax decreased, largest tax

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Speaker 5: cut in the history of our country.

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Speaker 2: Always interesting soccer, when you get these little windows into

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Speaker 2: the way his mind works.

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Speaker 1: Yeah, you know, you know, by the way, sir, you

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Speaker 1: should be a lot more like Nexon.

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Speaker 3: He was much smarter and a better president actually than

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Speaker 3: you were in terms of Hoover. I mean, you know,

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Speaker 3: it's one of those where you actually made the apt

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Speaker 3: you know, comparison yesterday with Biden. You know, getting out

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Speaker 3: of this disaster obviously it's good. I'll celebrate it. But

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Speaker 3: you got us into this one, and I don't know

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Speaker 3: how much a lot of people are going to be forgiving.

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Speaker 3: I mean, even before the one hundred days of this disaster,

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Speaker 3: Trump's approval rating was already kind of in the toilet

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Speaker 3: because of his obsessions with Venezuela. And then there was

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Speaker 3: Epstein that was before that, and then before that were

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Speaker 3: all the fights about immigration. I guess actually some of

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Speaker 3: that was even in interlocked between all that and then

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Speaker 3: before that was Doge. I mean, I would say Liberation

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Speaker 3: Day was probably the day that Trump really lost the

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Speaker 3: country in terms of the overall feeling because people were

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Speaker 3: so upset about the it's just like what they were on,

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Speaker 3: and the memorandum, the deals on, the deals off, the

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Speaker 3: tariff's on, the tariff's off.

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Speaker 1: I mean, it was madness I think for quite a

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Speaker 1: lot of people, and people really suffered.

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Speaker 3: I think after that and the market, as he really

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Speaker 3: points to, they did not like it. So in terms

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Speaker 3: of hurting your own presidency, it might be sunk.

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Speaker 1: Now, that doesn't mean that we shouldn't do the deal.

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Speaker 3: We should obviously, I'll still celebrate it and give them

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Speaker 3: all of this, but it's going to be a very

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Speaker 3: very difficult hole to dig out of, especially with the economy.

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Speaker 1: I mean, what can you realistically do.

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Speaker 3: It's good, the gas price is going to go down,

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Speaker 3: it probably won't go back down to where it was,

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Speaker 3: and people are not going to forget one hundred days.

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Speaker 1: And remember they already said the amount.

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Speaker 3: Of money that people spent just on excess gas for

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Speaker 3: the hundred days of the war was more than the

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Speaker 3: entire tax refund of the Big Beautiful bill and outpaced

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Speaker 3: all of the commisserer wage gains. So unless you own

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Speaker 3: stocks in the S and P five hundred and you're

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Speaker 3: quite liquid, or you know, you have some investments, which

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Speaker 3: most people don't. I think it's only like forty percent

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Speaker 3: of people. Even then they would, though those they do,

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Speaker 3: it's in their retirement account. They can't access it right now.

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Speaker 3: There has been no financial upside to a lot of this,

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Speaker 3: and then the same you know, forces of inflation and

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Speaker 3: housing disaster and all of that that have been happening

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Speaker 3: now for five years continue to.

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Speaker 1: Flow on abated. So it's a very difficult hole to

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Speaker 1: crawl out of.

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Speaker 3: Yeah, it's like with Biden, you would have had to

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Speaker 3: start two years ago, man, and even then I'm not

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Speaker 3: so sure if you could have.

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Speaker 1: Done it well.

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Speaker 2: And here's the thing too, is, as we covered earlier

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Speaker 2: in this week, it's not like you just like snap

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Speaker 2: your fingers and oh, straight Upfoor moves. It's all back

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Speaker 2: to the normal, and everything's flowing and we're all good

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Speaker 2: to go. It's going to and the administration is openly

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Speaker 2: saying this, it's going to take months for things to

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Speaker 2: get back to normal. Even if you presume that the

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Speaker 2: negotiations go forward, and everything smoothly, and they come to

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Speaker 2: a deal, and shipping companies begin to feel comfortable transitting.

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Speaker 2: The straight of horm moves again, which is continues to

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Speaker 2: be a real question mark, and the you know, the

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Speaker 2: damage that's been done throughout the Gulf region begins to

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Speaker 2: be repaired, and you know, things that have been shut

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Speaker 2: down are brought back online, which again is not a

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Speaker 2: process like flipping a switch. So if there's one thing

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Speaker 2: we have learned about the way the economy works over

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Speaker 2: these years, it's that it takes a while for things

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Speaker 2: to get back. Meanwhile, we have you know, hot inflation

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Speaker 2: rating is coming in not just on the price of energy,

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Speaker 2: but on the price of everything, because energy literally fuels everything,

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Speaker 2: and because it's not only energy that was impacted by

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Speaker 2: this by this war. So Trump has been of course

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Speaker 2: making lots of noises about how he wants the uh

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Speaker 2: federate to be cut and brought in his own guy here,

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Speaker 2: Kevin Warsh, who you know, the thought was that he

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Speaker 2: would be the one who would be aligned to cut

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Speaker 2: the rates. Well, we have his first decision here as

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Speaker 2: fed share, and they're not hiking the rates yet, although

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Speaker 2: there is increased presumption that they will probably increase interest

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Speaker 2: rates sometime over the coming.

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Speaker 4: Year, but they are going to keep those rates steady.

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Speaker 2: Let's go ahead and take a listen to how he

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Speaker 2: announced this decision.

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Speaker 6: The Committee decided to maintain the target range for the

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Speaker 6: FED funds rate at three and a half to three

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Speaker 6: and three quarters percent, in support of the Fed's dual mandate.

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Speaker 6: The Committee also reaffirmed its policy of maintaining ample reserves

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Speaker 6: in the banking system. Economic activity is expanding out of

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Speaker 6: solid pace, despite elevated uncertainty that owes in part to

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Speaker 6: the conflict in the Middle East. Productivity growth and capital

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Speaker 6: investment both strong. Job gains have kept pace with the workforce.

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Speaker 6: The unemployment rate has changed little. We recognize that inflation

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Speaker 6: has been running well ahead of the Fed's long stated

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Speaker 6: inflation goal of two percent. That's been going on for

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Speaker 6: more than five years.

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Speaker 4: So very interesting the way he frames it there, right.

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Speaker 4: First of all, it's like he really really.

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Speaker 2: Downplays, like well, in part what's going on as the

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Speaker 2: Iran war. Anyway, most things are great, everything's going really well.

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Speaker 4: And this whole inflation thing.

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Speaker 2: We've been having inflation for a long time, five years

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Speaker 2: certainly has nothing to do with this guy who's in

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Speaker 2: office right here. So very interesting to see, you know,

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Speaker 2: the politics of the way that he's presenting all of this.

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Speaker 2: But you know, the bottom line is they are going

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Speaker 2: to hold the rates steady for now. Trump was asked

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Speaker 2: about this and seemed very nonplus. He said, literally like

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Speaker 2: whatever with regard to the rate, something he was previously

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Speaker 2: obsessed with.

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Speaker 4: I'll see where he goes from there. Let's take a

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Speaker 4: listen to that.

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Speaker 1: The Fed decision.

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Speaker 4: They held rates today, That all right, whatever, And it

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Speaker 4: looks like they might even raise them later this year.

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Speaker 5: It's up there. Do you have anything it could happen.

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Speaker 4: I mean, it's hard to believe.

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Speaker 5: It just keeps a country down, you know, So it's

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Speaker 5: so unusual.

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Speaker 3: But we have a very good.

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Speaker 5: Guy over there now, so I'm guided by what he wants.

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Speaker 4: To It's all right, whatever, okay.

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Speaker 2: And then they asked, okay, well, well, you know they

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Speaker 2: might raise the rates later.

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Speaker 4: That could happen. You know, I don't.

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Speaker 2: He clearly doesn't want that to happen and said he

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Speaker 2: thinks that keeps the country down, which in general it

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Speaker 2: does tend to do, and you know, has a lot

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Speaker 2: of impacts in terms of affordability with regard to mortgage

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Speaker 2: rates and things of that nature.

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Speaker 4: Garlands.

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Speaker 2: But because of the choices, the economic choices that he

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Speaker 2: has made, he has put the Fed in an impossible

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Speaker 2: position where it would actually be irresponsible for them to

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Speaker 2: cut the rates at this point.

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Speaker 3: Yeah, for market watchers, remember that they had to reverse

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Speaker 3: their prediction before the Iran War that rates were going

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Speaker 3: to drop as a result of Kevin Warsh and you

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Speaker 3: know some of the other factors. But now the current

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Speaker 3: expectation was not just holding rates flat, but the rates

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Speaker 3: will have to increase. Remember the bank, I think it

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Speaker 3: was the European Central Bank actually just hiked their interest rate.

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Speaker 3: I'm pretty sure the British Bank did as the Yeah,

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Speaker 3: I'm fairly certain that the British back did as well. Japan,

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Speaker 3: that's another country I think that also hYP rates very recently,

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Speaker 3: so you could see across the developed world. I'm also

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Speaker 3: looking just as of this morning, you know, the average

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Speaker 3: thirty year mortgage rate as of this morning is six

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Speaker 3: point five one percent and some others you know a

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Speaker 3: little bit of variation all the way down to six

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Speaker 3: point four. That's still very high. At the current you know,

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Speaker 3: the current housing costs, I believe so statistic where it

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Speaker 3: was like in one hundred US cities, the average starter home.

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Speaker 1: Is now roughly a million dollars.

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Speaker 3: And I mean, especially if you look at it, it's

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Speaker 3: it's got to be like high cost of living areas

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Speaker 3: where you know, again for people like a DC like,

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Speaker 3: oh yeah, that makes sense. I mean it shouldn't make sense,

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Speaker 3: but it does. That's the so, okay, So do the math.

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Speaker 3: Twenty percent down, got eight hundred k financed at six

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Speaker 3: point five percent. It's a rough looking you know, it's

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Speaker 3: a rough looking paycheck in terms of what you know,

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Speaker 3: in terms of your after tax income and the amount

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Speaker 3: that that's going to go to. You can do some

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Speaker 3: general math here of affordability, and people really have garden

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Speaker 3: start to get stretched when you look at that. So

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Speaker 3: I just see, you know, the interest rate combo, we

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Speaker 3: kind of all just accept it that the rate is high,

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Speaker 3: but when the price is not going to drop, that

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Speaker 3: just means very amount of household difficulty. And then people

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Speaker 3: staying locked into housing that they don't necessarily would have

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Speaker 3: or even want to stay in. But you know, they

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Speaker 3: may want to move, but they can't because they can't

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Speaker 3: afford to. Yeah, it's really very restrictive, I think in

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Speaker 3: terms of affordability.

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Speaker 2: I just saw this the NEWSIM yesterday too, that housing

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Speaker 2: starts so meaning like new construction of housing plunged fifteen

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Speaker 2: percent in May. It was the sharpest decline since the

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Speaker 2: pandemic in May of twenty twenty. They attributed to high

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Speaker 2: interest rates or elevated mortgage rates, elevated price of materials continually,

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Speaker 2: you know, causing problems. And they also say that there's

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Speaker 2: you know, sharp regional differences between what's going on. Actually

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Speaker 2: there's a building boom in the northeast, there's a decline

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Speaker 2: in the West and the South in particular. But you know,

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Speaker 2: when you think about affordability, like there needs to be

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Speaker 2: more housing construction or else you're going to have this

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Speaker 2: tight market.

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Speaker 4: And obviously price.

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Speaker 2: Is continuing to go up, and then the mortgage rates

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Speaker 2: have made it so the whole market is kind of

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Speaker 2: frozen in place. And these are some of the areas

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Speaker 2: where to your point, Sager, you know, this is not

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Speaker 2: this has not been something Trump has really focused on

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Speaker 2: at all, outside of you know, berating the FED chair

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Speaker 2: to do something about it effectively. And we played that

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Speaker 2: Maga grandma earlier in the week, who was like beside

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Speaker 2: herself saying, she literally is having panic attacks. And I

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Speaker 2: thought this was what he was going to be focused on.

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Speaker 2: And instead, we're doing tariffs, we're doing wars, we're doing Venezuela,

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Speaker 2: we're doing the immigration stuff.

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Speaker 4: Not that I think that that mega voter would be.

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Speaker 2: Particularly upset about that, but the focus on and we've

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Speaker 2: got the ballroom, we've got the reflecting pool, all the

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Speaker 2: sort of monuments to Trump as well, which I think

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Speaker 2: have really upset Americans, just because it really does feel

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Speaker 2: like this sort of Marie Antoinette approach where he's worried

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Speaker 2: about his legacy and his image and his beautiful ballroom

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Speaker 2: and has not focused whatsoever on the American people. And

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Speaker 2: it's not right said, I don't think about your financial situation,

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Speaker 2: and I love the inflation, So that is a difficult

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Speaker 2: political landscape for you to recover from.

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Speaker 3: Backtly you haunt him definitely put D five up there,

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Speaker 3: just what I was talking about with the banks. So currently,

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Speaker 3: there was an interesting moment yesterday where Kevin worsh you know,

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Speaker 3: just declined to join the dot plot, which but basically

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Speaker 3: only eighteen dots were submitted by the officials, one less

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Speaker 3: than the nineteen. In March, he declined to provide a

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Speaker 3: dot as to quarterly rate projections for the future, so

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Speaker 3: we don't yet know which way he'll decide in terms

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Speaker 3: of whether they're going to increase the interest rate.

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Speaker 2: This is basically meant to signal from each of the

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Speaker 2: decision makers whether they're thinking that the rates need to

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Speaker 2: go up or stay the same or go down. And

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Speaker 2: so he's clearly playing the politics here very closely and

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Speaker 2: decided not to record what he thinks is going to

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Speaker 2: happen or what he thinks needs to happen in the future.

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Speaker 2: So that's why it's just interesting from like a politics perspective.

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Speaker 1: Yeah, exactly.

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Speaker 3: And finally just D six. So I want to put

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Speaker 3: this up here because I just thought it was fascinating.

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Speaker 3: Is after the deal has been signed, there has now

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Speaker 3: been a huge push into dollar bets as the quote

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Speaker 3: US exceptionalism trade returns. I just thought this was very interesting.

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Speaker 3: Traders now expect a buoyant American economy to keep the

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Speaker 3: FED from cutting rates despite oil price fall, so they

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Speaker 3: said investors around the world are flocking back to the

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Speaker 3: US dollar, that the AI boom will help the world's

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Speaker 3: biggest economy outshine its peers this year and force the

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Speaker 3: Federal Reserve to keep interest rates high, which is going

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Speaker 3: to you know, create a stronger dollar. There are two

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Speaker 3: things I think one is the end of the war,

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Speaker 3: but two, obviously this is still remains the big bet

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Speaker 3: on AI. But three is actually here about the interest

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Speaker 3: rates because they want better returns, so they say, you know,

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Speaker 3: from the buoyancy of stock markets now to the recent

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Speaker 3: Federal reserve thing. But I also think it really does

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Speaker 3: have to deal with the confidence as well, you know,

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Speaker 3: with the president's comments there about well, you can't nobody

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Speaker 3: will take our dollar if they think that we're just

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Speaker 3: going to seize it. So a little bit of an

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Speaker 3: interesting signal there, But I think the bottom line remains

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Speaker 3: that like, look, nothing crazy is going to happen in

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Speaker 3: terms of the economy, and things that are on autopilot

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Speaker 3: just generally mean we're still going to have high inflation.

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Speaker 3: The fundamentals are bad for most people. Consumer sentiment is

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Speaker 3: probably going to remain quite low as a result. It

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Speaker 3: already was even before the Iran War happened, and so

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Speaker 3: absence something serious really serious in terms of government action.

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Speaker 3: It's just going to be like this for some time,

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Speaker 3: which I know is very, very difficult for most people

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Speaker 3: who are out there.

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Speaker 1: Okay, why don't we get to the Peter teele.

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Speaker 2: So wired to publish some interesting revelations about mister Antichrist himself.

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Speaker 2: Peter teele let's put this up on the screen. They

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Speaker 2: got their hands on a leak which exposed members of

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Speaker 2: Peter Tele's secretive Dialogue Society. More than two hundred of

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Speaker 2: the world's elites registered for a retreat whose agenda runs

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Speaker 2: from panels on cult building and sex to repping for

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Speaker 2: World War three and associated app offers matchmaking. So for

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Speaker 2: the global elites looking for other global elites interesting in

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Speaker 2: building cults, I guess that's the way to go about it.

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Speaker 2: We read you a little bit of this article and

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Speaker 2: the details of who was exposed here, they say. Some

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Speaker 2: data lays out a program of off the record sessions

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Speaker 2: including money does Buy Happiness, question mark, bring back nuclear navigating,

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Speaker 2: World War three battlefield technologies, and how's your sex life.

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Speaker 2: Other talks include build a Cult, moderated by the founder

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Speaker 2: of the Christian networking site pray dot com, and build

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Speaker 2: a party run by a former White House National security official. Together,

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Speaker 2: alongside the mundane fare of a typical thought leadership conference,

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Speaker 2: the documents show an.

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Speaker 4: Extraordinary convergence of power.

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Speaker 2: The registration records list General Alexis Grinkowitch, NATO's supreme Allied

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Speaker 2: Commander in Europe, and the head of US European Command,

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Speaker 2: who took the post in July twenty twenty five and

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Speaker 2: is recorded on the leaked list as having attended dialogue

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Speaker 2: gathering since two. One also names sitting Trump administration officials,

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Speaker 2: two US senators, six members of the so called PayPal mafia,

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Speaker 2: a former Middle East Chief of Intelligence Are you ever really?

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Speaker 4: A former Midiest chief of.

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Speaker 2: Intelligence, and a fitting ambassador to the United States, along

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Speaker 2: with the founders and directors of many of the country's

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Speaker 2: largest surveillance data broker and advertising data companies. So a

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Speaker 2: lot of very elite names here, you know, this is

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Speaker 2: compared to it's sort of like a I don't know,

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Speaker 2: kind of like a private world economic forum, very very secretive.

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Speaker 2: They do ask, they ask for some information about the

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Speaker 2: people's interests in special skills. Members list talents like funhouse construction,

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Speaker 2: accent imitation, backcountry skiing, urban exploration and meditative and psychedelic

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Speaker 2: inquiry into the nature of reality. They play Matchmaker Dialogue.

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Speaker 2: Its participant form ass registrants whether they are looking for love,

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Speaker 2: and offers to include single man, single woman, or other

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Speaker 2: respondents in future matchmaking.

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Speaker 4: A separate site, dating dot dialogue dot org.

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Speaker 2: Host NAP pitched as meaningful Connections for Exceptional people.

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Speaker 4: Isn't that beautiful?

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Speaker 1: Sager?

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Speaker 3: Yeah, it's all a bit it's actually a bit creepy.

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Speaker 3: I'm trying to find the exact quote. I'm reading a

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Speaker 3: book right now called Railroaded. I sent it to you, Yeah, yeah,

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Speaker 3: which is comparison to the AI. Basically, it's about the

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Speaker 3: financialization specifically of railroads, and he has I'm going to

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Speaker 3: butcher the quote, but I can't find the exact one

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Speaker 3: right now. Where he talks about his real discovery was

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Speaker 3: the sheer mediocrity of the Gilded Age class. Is that

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Speaker 3: the more that he learned about them, he's like, they

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Speaker 3: weren't special, they weren't particularly intelligent. They actually were just

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Speaker 3: exceptionally and you know, exceptionally good at like one very

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Speaker 3: very narrow thing, and spectacularly lucky. And that the world

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Speaker 3: that they ended up making was not intentional. It was

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Speaker 3: purely accidental and largely that they were quite mediocre.

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Speaker 1: In their own right.

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Speaker 3: Like the more that he started to learn about them,

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Speaker 3: and I was like, wow, that is so profound because

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Speaker 3: being in this position, you know, I've met, you know,

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Speaker 3: quite a few extraordinarily rich people, many of them who

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Speaker 3: are billionaires, and you know, what you will see are

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Speaker 3: often glimpses of like, wow, I couldn't do that in

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Speaker 3: terms of like how they got their billion. But then

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Speaker 3: they'll talk about something that you kind of know something about.

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Speaker 3: You're like, dude, what the fuck are you talking? You know,

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Speaker 3: it's like you literally don't know what you're talking about

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Speaker 3: at all. But the amount of confidence that they have

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Speaker 3: from their success in this one domain that they bury over.

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Speaker 3: The reason why I'm talking about this is that many

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Speaker 3: of these Silicon Valley types who I have gotten to

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Speaker 3: know quite well, not Teal or you know, any of

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Speaker 3: these people themselves, but the the you know kind of

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Speaker 3: people who are around them, and they have it's like

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Speaker 3: they fetishize being interesting, is the way I would just

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Speaker 3: and that is why there's this whole like and being edgy,

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Speaker 3: like the whole build a cult or they're like, oh

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Speaker 3: are you aghast by that? You know, like they like

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Speaker 3: to be offensive and to to like.

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Speaker 1: Break norms and to gather.

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Speaker 3: And you know, I actually thought, Nathan Tankas, can we

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Speaker 3: put E three up here on the screen? Tankas who

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Speaker 3: says what I So he went and he says, I

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Speaker 3: would emphasize these kinds of people talk the same behind

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Speaker 3: closed doors as they do in public. What was, in

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Speaker 3: fact the striking thing about how much of a rich

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Speaker 3: or powerful person talk like they tweet any right thing

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Speaker 3: you think a rich person is posting, but couldn't possibly

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Speaker 3: believe they believe it.

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Speaker 1: So e g.

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Speaker 3: You should think about the ruling class, especially circulating around

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Speaker 3: tech as genuine believing that low birth rates is the

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Speaker 3: top problem currently On electoral politics, the insane explanations rich

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Speaker 3: people post about the election in twenty twenty four are

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Speaker 3: genuinely what they believe in private. Your average rich modern

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Speaker 3: democrat at the week of the election genuinely believe Harris

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Speaker 3: lost because of biological men and women's sports and it

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Speaker 3: not being pro Israel enough. You know, some I agree

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Speaker 3: with something, but like he's right, and again that totally

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Speaker 3: comports with what I have seen. You know, one of

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Speaker 3: them funny things I've seen with a lot of these

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Speaker 3: many rich people as well, is bro, you have a

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Speaker 3: billion and we're doing the same shit. We're just tweeting

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Speaker 3: and talking about the news. It was proof, it's easy.

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Speaker 3: Proof is that you could have all the money in

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Speaker 3: the world. You could have, you could be in a

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Speaker 3: this one's happened to me, a billionaire. I did a

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Speaker 3: monologueut of years ago. Clifford Asnas, who is this idiot

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Speaker 3: hedge fund manager, was attacking me over, you know, pushing

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Speaker 3: some economic populasm. He was calling me like some socialists

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Speaker 3: or whatever. And it was on Christmas or near Christmas,

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Speaker 3: and he was literally in a Swiss chalet, tweeting and

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Speaker 3: angry about some monologue I had given. And I was like,

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Speaker 3: there you go. I mean, you know, you have a

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Speaker 3: guy here's worth billions of dollars in a Swiss chalet

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Speaker 3: who is just outraged. It's some at that time, some

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Speaker 3: twenty year old idiot on YouTube talking about economic populism.

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Speaker 3: But it just shows you money can buy you know,

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Speaker 3: you can buy a lot around you. But you know,

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Speaker 3: there's a deep hole inside these people. They want to

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Speaker 3: be recognize, they want to be loved. They want to

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Speaker 3: be edgy, they want to be interesting, they want to

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Speaker 3: be you know, really they really want is validation from

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Speaker 3: their peer group and from the rest. And you know, look,

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Speaker 3: it's all fun and games, but they're also extraordinarily rich

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Speaker 3: and wealthy, and they control a lot of the technology

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Speaker 3: that we use on a deally and that's why it's dangerous.

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Speaker 2: Yeah, And they love these little cliquish things with the

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Speaker 2: Davos or you know, ask But like all these things

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Speaker 2: they love to do. They love to be inside the

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Speaker 2: circle and know that they're special and not like the

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Speaker 2: rest of society. And they're contemplating these big problems that

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Speaker 2: us little peons could possibly wrap our heads around. Another

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Speaker 2: interesting part of the Wired article, they say what ties

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Speaker 2: the roster together more than any title or office is

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Speaker 2: a shared preoccupation with artificial intelligence, longevity, and the near future.

438
00:20:45,560 --> 00:20:46,840
Speaker 4: Asked on the sign up forms.

439
00:20:46,600 --> 00:20:49,560
Speaker 2: To predict the future, registrans registrants returned again and again

440
00:20:49,600 --> 00:20:53,120
Speaker 2: to the same theme that AI will reorder work, war, education,

441
00:20:53,320 --> 00:20:57,160
Speaker 2: and belief within a few years, several forest mass, labor displacement,

442
00:20:57,200 --> 00:20:59,560
Speaker 2: and a swing back toward unions and government programs. Other

443
00:20:59,600 --> 00:21:03,840
Speaker 2: predict and others predict an AI winter, domestic terrorism, targeting

444
00:21:03,920 --> 00:21:08,639
Speaker 2: data centers, criminal defendants, choosing AI lawyers over public defenders,

445
00:21:09,080 --> 00:21:14,600
Speaker 2: or religious revival provoked by the disruption social degeneration predicted

446
00:21:14,640 --> 00:21:17,800
Speaker 2: one person will continue to accelerate. I think this is

447
00:21:17,840 --> 00:21:21,760
Speaker 2: really important because Number one, some of the people that

448
00:21:21,920 --> 00:21:24,920
Speaker 2: are coming to this conference and are saying these things

449
00:21:24,920 --> 00:21:27,000
Speaker 2: about like, oh, he has really going to fuck us

450
00:21:27,080 --> 00:21:29,359
Speaker 2: up and social degeneration is going to be a mess

451
00:21:29,760 --> 00:21:33,520
Speaker 2: are the very people who are developing the technology and

452
00:21:33,600 --> 00:21:37,639
Speaker 2: pushing for it in the Trump regime to be completely deregulated.

453
00:21:37,920 --> 00:21:39,960
Speaker 2: So I think that's important to keep in mind. And

454
00:21:40,000 --> 00:21:42,320
Speaker 2: then as we evaluate their actions like for example, Peter

455
00:21:42,400 --> 00:21:44,479
Speaker 2: Thiel moving to Argentina and all of them buying their

456
00:21:44,480 --> 00:21:48,280
Speaker 2: doomsday bunkers and whatever. Like, these people, many of them

457
00:21:48,560 --> 00:21:51,840
Speaker 2: genuinely do think that society is going to crumble, that

458
00:21:51,880 --> 00:21:56,040
Speaker 2: there could be you know, existential stakes for humanity close

459
00:21:56,080 --> 00:22:00,199
Speaker 2: at hand, and have this sort of nihilistic view towards

460
00:22:00,200 --> 00:22:03,000
Speaker 2: which I think helps explain some of their approach in

461
00:22:03,040 --> 00:22:06,520
Speaker 2: the way that they conduct themselves. It's you know, it's

462
00:22:06,560 --> 00:22:07,680
Speaker 2: it's deeply disturbing.

463
00:22:07,840 --> 00:22:08,280
Speaker 4: Frankly.

464
00:22:11,160 --> 00:22:13,480
Speaker 2: Finally, to get to some of the specific names that

465
00:22:13,520 --> 00:22:15,679
Speaker 2: are on the list. Let's put E two up on

466
00:22:15,720 --> 00:22:16,520
Speaker 2: the screen here.

467
00:22:17,240 --> 00:22:18,080
Speaker 4: This is uh.

468
00:22:18,160 --> 00:22:22,000
Speaker 2: Daniel Bogoslaw flagged that the ranking Democrat member of the

469
00:22:22,040 --> 00:22:24,479
Speaker 2: House Intel Committee is part of this secret society.

470
00:22:24,480 --> 00:22:26,960
Speaker 4: Apparently Corey Booker is on less list too.

471
00:22:27,040 --> 00:22:32,480
Speaker 2: Treasury Secretary Scott Besstt, Senator Ted Cruz on the list

472
00:22:32,560 --> 00:22:33,199
Speaker 2: as well.

473
00:22:33,760 --> 00:22:36,560
Speaker 4: So college I didn't realize.

474
00:22:36,320 --> 00:22:37,800
Speaker 1: That they've known each other for a long time.

475
00:22:37,960 --> 00:22:40,560
Speaker 2: Yeah, So, I mean there's a lot of names here,

476
00:22:40,720 --> 00:22:43,840
Speaker 2: but and a bunch of like you know, obviously Joe

477
00:22:43,880 --> 00:22:48,160
Speaker 2: Lonsdale and people close he's a close associate of Peter Tiel, so.

478
00:22:48,280 --> 00:22:49,399
Speaker 4: That is not surprising.

479
00:22:49,800 --> 00:22:55,560
Speaker 2: They say, You've got lots of corporate executives, surveillance state types,

480
00:22:55,800 --> 00:22:59,679
Speaker 2: government officials, media elites as well that are part of

481
00:22:59,720 --> 00:23:02,919
Speaker 2: this secret group. And so you know, I mean, it

482
00:23:02,960 --> 00:23:06,000
Speaker 2: really does shine a light on the way that they operate,

483
00:23:06,080 --> 00:23:08,040
Speaker 2: the way that they associate, and the way that they're

484
00:23:08,080 --> 00:23:09,560
Speaker 2: thinking about the world.

485
00:23:09,720 --> 00:23:12,639
Speaker 4: So I think a noteworthy week here.

486
00:23:12,520 --> 00:23:14,399
Speaker 3: I found the past. This is claude summary because they

487
00:23:14,400 --> 00:23:17,240
Speaker 3: don't have access. Richard White's argument is that the transcountantal

488
00:23:17,560 --> 00:23:20,959
Speaker 3: Barons were not actually brilliant captains of industry their portrait

489
00:23:21,040 --> 00:23:24,400
Speaker 3: as his core contention is that these men were largely incompetent,

490
00:23:24,440 --> 00:23:26,800
Speaker 3: that they built railroads in the wrong places at the

491
00:23:26,880 --> 00:23:32,199
Speaker 3: wrong times. They succeeded primarily through corruption, government subsidy, political manipulation,

492
00:23:32,560 --> 00:23:35,960
Speaker 3: rather than through any genuine business acumen or vision. He

493
00:23:36,000 --> 00:23:38,879
Speaker 3: pushes back hard on the Great Man narrative of American

494
00:23:38,960 --> 00:23:42,159
Speaker 3: capitalism and says they only survived because they had captured

495
00:23:42,200 --> 00:23:44,840
Speaker 3: the federal government. The people who actually built the railroads,

496
00:23:44,920 --> 00:23:47,520
Speaker 3: Chinese and Irish laborers, did the real work, while the

497
00:23:47,560 --> 00:23:49,639
Speaker 3: men who got the credit and the fortunes were essentially

498
00:23:49,720 --> 00:23:54,640
Speaker 3: skilled rent seekers rather than builders or innovators. Extremely cutting. Really,

499
00:23:54,680 --> 00:23:56,280
Speaker 3: you guys should read the book. It's a very very

500
00:23:56,280 --> 00:23:59,480
Speaker 3: good book. But you know, he opens the paragraph with that,

501
00:23:59,560 --> 00:24:03,119
Speaker 3: and I was like, nothing is Renovan, Nothing is resonated

502
00:24:03,160 --> 00:24:05,000
Speaker 3: with me so hard, especially in.

503
00:24:04,960 --> 00:24:05,800
Speaker 1: The age of AI.

504
00:24:05,960 --> 00:24:08,680
Speaker 4: But they think they're so That's his whole.

505
00:24:08,480 --> 00:24:10,639
Speaker 3: Point is that they thought and they you know, they

506
00:24:10,640 --> 00:24:13,800
Speaker 3: got lion eyes. The Vanderbilts and the houses and the

507
00:24:13,800 --> 00:24:16,720
Speaker 3: the goulds and the what you have, the libraries and

508
00:24:16,720 --> 00:24:17,880
Speaker 3: their mansions on.

509
00:24:18,119 --> 00:24:19,760
Speaker 1: Fifth Avenue and all that.

510
00:24:19,800 --> 00:24:22,159
Speaker 3: I actually think the show The Gilded Age on HBO

511
00:24:22,600 --> 00:24:26,160
Speaker 3: is quite good. It's showing the sheer silliness of this nonsense.

512
00:24:26,240 --> 00:24:27,080
Speaker 1: It's like they're not.

513
00:24:27,320 --> 00:24:30,560
Speaker 3: They're not smart, they're not special, they're not particularly interesting.

514
00:24:30,600 --> 00:24:33,440
Speaker 3: Most of them are dull beyond belief. You know, they're

515
00:24:33,480 --> 00:24:36,639
Speaker 3: obsessed with the stupidest things. Like I mean, I bought

516
00:24:36,640 --> 00:24:39,320
Speaker 3: one of the books of the original books from the

517
00:24:39,359 --> 00:24:42,400
Speaker 3: Gilded Age by one of the character's name is Ward McAllister.

518
00:24:42,640 --> 00:24:44,800
Speaker 3: There's a whole chapter in there about how to pour

519
00:24:44,960 --> 00:24:46,560
Speaker 3: champagne at a picnic.

520
00:24:46,520 --> 00:24:47,920
Speaker 1: Like as an entire thing.

521
00:24:48,080 --> 00:24:50,119
Speaker 3: He's like, well, you have to flay it correctly and

522
00:24:50,160 --> 00:24:52,679
Speaker 3: have the flakes in the champagne from the ice. And

523
00:24:53,359 --> 00:24:55,119
Speaker 3: I mean, I'm sorry to go on about this, but

524
00:24:55,480 --> 00:24:57,879
Speaker 3: to read about it is just just to she see

525
00:24:58,160 --> 00:25:01,960
Speaker 3: the obsessions that endless wealth will actually lead you towards

526
00:25:02,000 --> 00:25:03,600
Speaker 3: it and how bad it actually is.

527
00:25:03,640 --> 00:25:05,960
Speaker 2: And they're all obsessed with themselves like it mentions this

528
00:25:06,000 --> 00:25:09,280
Speaker 2: thing about longevity, you know, it's a huge seen and yeah, transhum,

529
00:25:09,359 --> 00:25:11,920
Speaker 2: I mean this it's part and parcel of first of all,

530
00:25:12,000 --> 00:25:14,399
Speaker 2: all the just like obsession over how do we extend

531
00:25:14,440 --> 00:25:16,800
Speaker 2: our lives and how do I look as young as possible?

532
00:25:16,880 --> 00:25:20,080
Speaker 2: And all of that, but also it ties directly into

533
00:25:20,200 --> 00:25:22,920
Speaker 2: AI and transhumanism, this idea of like, oh, I could

534
00:25:23,000 --> 00:25:25,320
Speaker 2: upload my consciousness to the cloud and then by.

535
00:25:25,200 --> 00:25:26,479
Speaker 4: That way I could live forever.

536
00:25:26,560 --> 00:25:29,119
Speaker 2: And it does take on a deeply like it is

537
00:25:29,119 --> 00:25:31,720
Speaker 2: a like a religion. Genuinely, it doesn't surprise me to

538
00:25:31,720 --> 00:25:32,639
Speaker 2: see this, like, oh, how do.

539
00:25:32,640 --> 00:25:33,359
Speaker 4: We build a cult?

540
00:25:33,480 --> 00:25:35,520
Speaker 2: You already did it in a lot of ways the

541
00:25:35,600 --> 00:25:37,720
Speaker 2: Silicon Valley AI believers.

542
00:25:37,800 --> 00:25:41,200
Speaker 4: It is a cult. It is incredibly cultish.

543
00:25:40,720 --> 00:25:43,560
Speaker 2: In its views and has a lot of proto religious

544
00:25:43,800 --> 00:25:46,600
Speaker 2: dimensions to it. But you know, for them, they're such

545
00:25:46,720 --> 00:25:50,120
Speaker 2: narcissists and they have to believe that they're special, because otherwise,

546
00:25:50,160 --> 00:25:52,119
Speaker 2: how do you explain the life they live versus the

547
00:25:52,160 --> 00:25:54,560
Speaker 2: life everybody else lives? How do you explain, you know,

548
00:25:54,600 --> 00:25:57,320
Speaker 2: how do you justify the things that you do, for example,

549
00:25:57,320 --> 00:25:59,960
Speaker 2: to your workers, or the way that you're exploiting the planet,

550
00:26:00,119 --> 00:26:03,320
Speaker 2: like any of numerous terrible things that they do to

551
00:26:03,760 --> 00:26:06,879
Speaker 2: humans and other species on the planet. You have to

552
00:26:06,880 --> 00:26:09,760
Speaker 2: think that you're different and special and you deserve to be.

553
00:26:10,200 --> 00:26:13,159
Speaker 2: And so that makes them have this main character syndrome

554
00:26:13,200 --> 00:26:15,199
Speaker 2: where it's like, how could the world go on without me?

555
00:26:15,560 --> 00:26:20,440
Speaker 2: In it, and deeply narcissistic, so obsessed with themselves, obsessed

556
00:26:20,440 --> 00:26:22,160
Speaker 2: with how do I make sure that I can live

557
00:26:22,200 --> 00:26:25,280
Speaker 2: forever and my glory can continue to rain down on

558
00:26:25,359 --> 00:26:27,679
Speaker 2: all of us. So anyway, not surprised to see that

559
00:26:27,760 --> 00:26:28,960
Speaker 2: on a list of their obsessions.

560
00:26:29,840 --> 00:26:32,560
Speaker 3: Always good to check in with the ultra rich, see

561
00:26:32,560 --> 00:26:36,040
Speaker 3: what their mind is preoccupied with. Which Argentinian steakhost here

562
00:26:36,080 --> 00:26:39,160
Speaker 3: will dine at all? Right, We'll see you guys later