1 00:00:00,280 --> 00:00:03,400 Speaker 1: Cable news is ripping us apart, dividing the nation, making 2 00:00:03,440 --> 00:00:05,880 Speaker 1: it impossible to function as a society and to know 3 00:00:05,920 --> 00:00:08,680 Speaker 1: what is true and what is false. The good news 4 00:00:08,760 --> 00:00:10,800 Speaker 1: is that they're failing and they know it. That is 5 00:00:10,800 --> 00:00:14,800 Speaker 1: why we're building something new. Be part of creating a new, better, healthier, 6 00:00:14,840 --> 00:00:17,919 Speaker 1: and more trustworthy mainstream by becoming a Breaking Points Premium 7 00:00:17,920 --> 00:00:21,479 Speaker 1: member today at breakingpoints dot com. Your hard earned money 8 00:00:21,520 --> 00:00:23,320 Speaker 1: is going to help us build for the midterms and 9 00:00:23,360 --> 00:00:27,320 Speaker 1: the upcoming presidential election so we can provide unparalleled coverage 10 00:00:27,360 --> 00:00:28,600 Speaker 1: of what is sure to be one of the most 11 00:00:28,600 --> 00:00:32,280 Speaker 1: pivotal moments in American history. So what are you waiting for? 12 00:00:32,479 --> 00:00:52,360 Speaker 1: Go to Breakingpoints dot com to help us out. Good morning, everybody, 13 00:00:52,400 --> 00:00:54,920 Speaker 1: Happy Thursday. We have an Amazon show for everybody today. 14 00:00:54,920 --> 00:00:56,680 Speaker 1: What do we have Bristol? Indeed, we do. Love's to 15 00:00:56,720 --> 00:00:58,800 Speaker 1: get to you this morning. First of all, we can't 16 00:00:58,800 --> 00:01:01,240 Speaker 1: bury the lead here. I know you guys are super excited. 17 00:01:01,920 --> 00:01:06,839 Speaker 1: CNN Plus officially launched, will give you all the details 18 00:01:06,880 --> 00:01:09,400 Speaker 1: of what you need to know about this groundbreaking moment 19 00:01:09,440 --> 00:01:12,120 Speaker 1: in American television history. Yes, and just so people know, 20 00:01:12,280 --> 00:01:14,520 Speaker 1: we have no say in the ads that go on 21 00:01:14,560 --> 00:01:17,720 Speaker 1: our podcast. They're dynamically inserted, just like YouTube ads, and 22 00:01:17,760 --> 00:01:22,600 Speaker 1: apparently CNN has been buying ad space on breaking points 23 00:01:22,880 --> 00:01:26,200 Speaker 1: in order to try and appeal to this. Audiences will 24 00:01:26,200 --> 00:01:28,720 Speaker 1: tell you yeah, good luck. You guys can let them 25 00:01:28,760 --> 00:01:31,240 Speaker 1: know what they think about that, all right. In addition 26 00:01:31,600 --> 00:01:36,080 Speaker 1: to that monumental story, we also have some really significant 27 00:01:36,080 --> 00:01:39,080 Speaker 1: things with regards to Biden administration making some moves both 28 00:01:39,120 --> 00:01:41,760 Speaker 1: on the Defense Production Act to try to generate the 29 00:01:41,760 --> 00:01:46,200 Speaker 1: supplies we need for electric vehicle batteries, also releasing a 30 00:01:46,520 --> 00:01:50,559 Speaker 1: monumental amount of oil from the Strategic Petrolleum Reserve. We've 31 00:01:50,600 --> 00:01:54,200 Speaker 1: got new finally the media admitting what we've been saying 32 00:01:54,200 --> 00:01:57,560 Speaker 1: all along about Hunter Biden, and they finally verified the 33 00:01:57,600 --> 00:01:59,760 Speaker 1: contents of the laptop. Oh my god, I'm so shocked 34 00:01:59,760 --> 00:02:03,320 Speaker 1: that it was actually authentic. That's so crazy. Madison Cawthorne 35 00:02:04,280 --> 00:02:06,480 Speaker 1: not pleasing people in this town. Will give you all 36 00:02:06,480 --> 00:02:08,639 Speaker 1: the latest of what is a strange and said tail. 37 00:02:09,000 --> 00:02:10,920 Speaker 1: But we want to start, of course, with what is 38 00:02:10,960 --> 00:02:13,400 Speaker 1: going on on the ground in Ukraine. Yes, that's right. 39 00:02:13,440 --> 00:02:16,040 Speaker 1: It's been very difficult in order to parse what's happening 40 00:02:16,080 --> 00:02:17,720 Speaker 1: on the grounds. We're going to do our best here, 41 00:02:17,800 --> 00:02:20,359 Speaker 1: let's put this up there on the screen. So initially 42 00:02:20,400 --> 00:02:24,440 Speaker 1: what happened is that Russia framed its withdrawal from Kiev 43 00:02:24,480 --> 00:02:28,480 Speaker 1: and Chernev as is trust building exercise, but it appears 44 00:02:28,480 --> 00:02:32,080 Speaker 1: to have provided a justification for retreats that Russian forces 45 00:02:32,120 --> 00:02:36,239 Speaker 1: had already made in the face of Ukrainian counter attacks. 46 00:02:36,280 --> 00:02:39,000 Speaker 1: There's been a lot of parsing about what exactly is 47 00:02:39,040 --> 00:02:42,080 Speaker 1: going on there with Russian movements around the city of Kiev. 48 00:02:42,280 --> 00:02:45,720 Speaker 1: Now on the west, we've been saying, and the analysts 49 00:02:45,760 --> 00:02:48,240 Speaker 1: had said that they had stalled there, the Ukrainian attacks 50 00:02:48,240 --> 00:02:49,720 Speaker 1: had pushed them and made it so that an assault 51 00:02:49,760 --> 00:02:52,040 Speaker 1: on the city was not going to happen. Now there's 52 00:02:52,040 --> 00:02:54,000 Speaker 1: also some counter analysis which are going to bring you 53 00:02:54,040 --> 00:02:55,680 Speaker 1: in a little bit, which said that they never actually 54 00:02:55,720 --> 00:02:58,080 Speaker 1: intended on doing this, that they wanted to go ahead 55 00:02:58,120 --> 00:03:01,440 Speaker 1: and hold Froiss up there while they consolidated their gains 56 00:03:01,680 --> 00:03:04,440 Speaker 1: in the east. It's very difficult in order to parse 57 00:03:04,480 --> 00:03:06,359 Speaker 1: those things. But here's what the West is saying. Let's 58 00:03:06,360 --> 00:03:08,160 Speaker 1: put this up there on the screen. This is from 59 00:03:08,200 --> 00:03:11,280 Speaker 1: France twenty four over on the European continent. What Western 60 00:03:11,280 --> 00:03:14,880 Speaker 1: officials there in Europe are saying is urging caution over 61 00:03:14,960 --> 00:03:19,200 Speaker 1: Russian vows to scale back military operations. It's seen as 62 00:03:19,360 --> 00:03:23,320 Speaker 1: an effort in order to either spin what was already 63 00:03:23,360 --> 00:03:27,320 Speaker 1: a strategic withdrawal in the light of overwhelming firepower and 64 00:03:27,480 --> 00:03:31,720 Speaker 1: of attacks and death, but also it's possibly a strategic 65 00:03:31,760 --> 00:03:35,600 Speaker 1: ability in order to make sure that the Russians are 66 00:03:35,640 --> 00:03:38,720 Speaker 1: in order to counter attack or even put pressure in 67 00:03:38,840 --> 00:03:42,240 Speaker 1: different areas of the battlefield. And this is something which 68 00:03:42,480 --> 00:03:45,560 Speaker 1: again in the West with the Pentagon is going with 69 00:03:45,680 --> 00:03:48,080 Speaker 1: this is what they're telling reporters always take that with 70 00:03:48,120 --> 00:03:50,200 Speaker 1: the grain of salt. Put this up there on the screen, please, 71 00:03:50,480 --> 00:03:54,360 Speaker 1: which is that Pentagon? Kirby, he's the press secretary there, 72 00:03:54,560 --> 00:03:56,760 Speaker 1: said that reports that Russia is pulling out of the 73 00:03:56,800 --> 00:04:00,720 Speaker 1: region around Kiev. Quote we believe this is a re positioning, 74 00:04:01,080 --> 00:04:04,560 Speaker 1: not a real withdrawal end quote. We should be prepared 75 00:04:04,600 --> 00:04:08,640 Speaker 1: to watch for a major offensive against other areas of Ukraine. 76 00:04:08,680 --> 00:04:11,480 Speaker 1: So this was originally framed by the Russians Crystal as 77 00:04:11,560 --> 00:04:14,760 Speaker 1: a show of good faith in the negotiations of what 78 00:04:14,800 --> 00:04:19,360 Speaker 1: were happening with Ukraine in Turkey. Now, originally we had 79 00:04:19,400 --> 00:04:21,880 Speaker 1: shown you in our last show that there appeared to 80 00:04:21,920 --> 00:04:25,720 Speaker 1: be some good strategic headway. There was Zelenski saying that 81 00:04:25,800 --> 00:04:29,240 Speaker 1: neutrality is definitely on the table, the Russians at least 82 00:04:29,520 --> 00:04:33,480 Speaker 1: on a little bit making clear that demilitarization wasn't really 83 00:04:33,520 --> 00:04:36,640 Speaker 1: on the table. No more talk of denazification and really 84 00:04:36,680 --> 00:04:40,320 Speaker 1: just demanding crimea Donyetsk and Lahansk. So if that had 85 00:04:40,360 --> 00:04:42,799 Speaker 1: been the case, then we would be in a better area. 86 00:04:42,920 --> 00:04:45,719 Speaker 1: But with this current strategic withdrawal and some new comments 87 00:04:45,800 --> 00:04:48,479 Speaker 1: Zelenski made just this morning, it's actually much more up 88 00:04:48,520 --> 00:04:51,160 Speaker 1: in the earth. Yeah. So basically, to boil it down, 89 00:04:51,400 --> 00:04:54,400 Speaker 1: there's three possibilities here. One is the Russians are telling 90 00:04:54,480 --> 00:04:57,640 Speaker 1: the truth and they are doing a strategic withdrawal as 91 00:04:57,640 --> 00:05:00,560 Speaker 1: a trust building exercise to try to come to a deal. 92 00:05:00,960 --> 00:05:03,479 Speaker 1: Based on the fact that we don't actually see that 93 00:05:03,600 --> 00:05:07,200 Speaker 1: happening on the ground, that seems highly unlikely. Scenario number 94 00:05:07,240 --> 00:05:12,120 Speaker 1: two is that as Kirby and US government is basically 95 00:05:12,160 --> 00:05:16,520 Speaker 1: saying they are couching their withdrawal the fact that they've 96 00:05:16,560 --> 00:05:19,279 Speaker 1: had military struggles in these regions as like, oh, we're 97 00:05:19,279 --> 00:05:21,800 Speaker 1: doing a good thing, when really they're sort of defeated 98 00:05:21,880 --> 00:05:23,640 Speaker 1: and they have to withdraw and they don't have a 99 00:05:23,640 --> 00:05:25,719 Speaker 1: lot of other options, so they're trying to frame it 100 00:05:25,760 --> 00:05:28,200 Speaker 1: as like, no, no, really, we could keep going, but 101 00:05:28,279 --> 00:05:32,359 Speaker 1: we just don't really want to. The third possibility here 102 00:05:32,600 --> 00:05:36,480 Speaker 1: is that it was always their strategic intent to basically 103 00:05:36,560 --> 00:05:39,600 Speaker 1: draw the Ukrainian forces out and force them to keep 104 00:05:39,640 --> 00:05:43,360 Speaker 1: their military engaged on these fronts when their real objectives 105 00:05:43,360 --> 00:05:46,360 Speaker 1: have to do with the eastern part of Ukraine and 106 00:05:46,440 --> 00:05:49,280 Speaker 1: with this land bridge to Crimea. And that is what 107 00:05:49,440 --> 00:05:52,600 Speaker 1: there's a thread going around by Scott Ritter. Let's put 108 00:05:52,640 --> 00:05:54,600 Speaker 1: this up there on the screen and I consider this, 109 00:05:54,760 --> 00:05:57,680 Speaker 1: you know, at least within the realm of possibility, which 110 00:05:57,720 --> 00:06:00,520 Speaker 1: is that in terms of arrow war and maneuver warfare. 111 00:06:00,560 --> 00:06:03,560 Speaker 1: For those scratching their heads in confusion dusting off their 112 00:06:03,640 --> 00:06:06,880 Speaker 1: dress uniforms over the news about Russia's strategic shift, you 113 00:06:06,920 --> 00:06:10,360 Speaker 1: might want to refamiliarize yourself with basic military concepts. What 114 00:06:10,520 --> 00:06:13,640 Speaker 1: Scott here says is strategically, to facilitate the ability to 115 00:06:13,680 --> 00:06:16,880 Speaker 1: maneuver between the Southern, Central, and Northern front, Russia needed 116 00:06:16,920 --> 00:06:19,640 Speaker 1: to secure a land bridge between Crimea and Russia. The 117 00:06:19,680 --> 00:06:22,320 Speaker 1: seizure of the coastal city of Mariopol was critical to 118 00:06:22,400 --> 00:06:25,080 Speaker 1: this effort. Russia has now accomplished this task. What he 119 00:06:25,160 --> 00:06:28,919 Speaker 1: says is that maneuver warfare is more psychological than physical 120 00:06:29,120 --> 00:06:31,880 Speaker 1: and focuses on the operational rather than the tactical level, 121 00:06:32,000 --> 00:06:33,760 Speaker 1: and that what they were trying to do the Russians, 122 00:06:33,760 --> 00:06:36,840 Speaker 1: according to Scott's analysis, was to tie up a bulk 123 00:06:36,880 --> 00:06:40,520 Speaker 1: of the Ukrainian force up near Kiev away from the 124 00:06:40,600 --> 00:06:44,359 Speaker 1: Maria Pol and that they've now accomplished their core military objective. 125 00:06:44,600 --> 00:06:47,240 Speaker 1: I think this is true in part. What I would 126 00:06:47,279 --> 00:06:50,119 Speaker 1: say is they tried to do it, but they didn't 127 00:06:50,160 --> 00:06:52,520 Speaker 1: bring an overwhelming amount of force to bear. They hoped 128 00:06:52,520 --> 00:06:55,240 Speaker 1: it would work out, and then, like all military operations, 129 00:06:55,279 --> 00:06:57,400 Speaker 1: they have a plan B, which is retreat to your 130 00:06:57,440 --> 00:07:00,560 Speaker 1: secure sectors down there in the east. I don't think though, 131 00:07:00,680 --> 00:07:03,520 Speaker 1: that they never did not intend on taking Kiev. I 132 00:07:03,560 --> 00:07:06,440 Speaker 1: mean even Western intelligence said Kiev is going to fall 133 00:07:06,640 --> 00:07:08,960 Speaker 1: in three days, right, So you know, some of this 134 00:07:09,040 --> 00:07:11,560 Speaker 1: is t Q by half in terms, not Scott specifically, 135 00:07:11,640 --> 00:07:14,560 Speaker 1: but others who are saying, oh, well, they always intended 136 00:07:14,600 --> 00:07:16,600 Speaker 1: to do this. I'm like, I think they actually did 137 00:07:16,680 --> 00:07:19,080 Speaker 1: want to take the city. But they also had, as 138 00:07:19,120 --> 00:07:22,440 Speaker 1: any military operation, a plan B. So the core thing 139 00:07:22,480 --> 00:07:25,680 Speaker 1: that you need to know is that this could be 140 00:07:26,080 --> 00:07:28,920 Speaker 1: could be a strategic withdrawal by the Russians. It also 141 00:07:29,000 --> 00:07:31,800 Speaker 1: could be a repositioning to launch in other major offenses 142 00:07:32,000 --> 00:07:35,360 Speaker 1: within the country. And in terms of their core military 143 00:07:35,360 --> 00:07:38,400 Speaker 1: objectives in the East, in Crimea and the takeover the 144 00:07:38,440 --> 00:07:41,960 Speaker 1: city of Mariopol. They have accomplished at least one of 145 00:07:42,000 --> 00:07:45,480 Speaker 1: their major objectives in this military operation. Doesn't mean it's 146 00:07:45,520 --> 00:07:49,120 Speaker 1: a success obviously in terms of the grand strategic Russia 147 00:07:49,160 --> 00:07:52,440 Speaker 1: becoming a prior state establishing a land bridge between Crimea 148 00:07:52,440 --> 00:07:55,280 Speaker 1: and the East, was it really worth it? I wouldn't 149 00:07:55,280 --> 00:07:58,840 Speaker 1: say that, but some Russia defenders and in the Kremlin 150 00:07:58,880 --> 00:08:00,960 Speaker 1: they might transplit it that way. Yeah. And I mean 151 00:08:01,000 --> 00:08:03,640 Speaker 1: I don't think that we should totally ignore the fact 152 00:08:03,720 --> 00:08:06,720 Speaker 1: that some of their objectives here going in they are 153 00:08:06,800 --> 00:08:10,160 Speaker 1: likely to accomplish. I mean, look, Ukraine was already to 154 00:08:10,200 --> 00:08:12,240 Speaker 1: say ri fine, we're not going to do NATO. They 155 00:08:12,320 --> 00:08:14,840 Speaker 1: didn't have to like launch a war to get that promise. 156 00:08:14,920 --> 00:08:18,840 Speaker 1: Zelenski was already tiptoeing right up to the line of 157 00:08:18,960 --> 00:08:21,920 Speaker 1: basically indicating to them this is on the table already. 158 00:08:22,240 --> 00:08:24,400 Speaker 1: But in addition to that, I mean, Russia definitely is 159 00:08:24,440 --> 00:08:27,040 Speaker 1: in a position now to more dictate the ultimate terms 160 00:08:27,040 --> 00:08:31,040 Speaker 1: of however this thing ends, and the real sticking point 161 00:08:31,120 --> 00:08:33,320 Speaker 1: is going to be over what happens to this territory 162 00:08:33,320 --> 00:08:36,079 Speaker 1: in the East, what happens to crimea last show we 163 00:08:36,160 --> 00:08:39,760 Speaker 1: brought you, Zelensky made some comments that were pretty interesting. 164 00:08:39,840 --> 00:08:42,080 Speaker 1: First of all, in the talks that unfolded this week, 165 00:08:42,240 --> 00:08:45,040 Speaker 1: they basically sent those pieces we're just going to put 166 00:08:45,080 --> 00:08:46,920 Speaker 1: off the table for now in terms of how we 167 00:08:47,000 --> 00:08:50,839 Speaker 1: handle these territorial issues, and you know, Ukraine obviously very 168 00:08:50,840 --> 00:08:53,760 Speaker 1: strongly saying we're not giving up any of our territory 169 00:08:53,800 --> 00:08:57,439 Speaker 1: to this you know, aggressive invader. However, Zelenski did signal, 170 00:08:57,480 --> 00:09:01,000 Speaker 1: and he said this outright, that he recognized any military 171 00:09:01,080 --> 00:09:04,040 Speaker 1: effort to take back those regions was tantamount to what 172 00:09:04,080 --> 00:09:06,840 Speaker 1: he called World War III. And so it could be 173 00:09:06,880 --> 00:09:09,960 Speaker 1: on the table that all right, we're not going to 174 00:09:10,040 --> 00:09:13,720 Speaker 1: recognize your right to these regions or that these are 175 00:09:14,080 --> 00:09:17,360 Speaker 1: independent regions now in the East. However, we're also not 176 00:09:17,559 --> 00:09:20,480 Speaker 1: really going to do anything about the de facto situation 177 00:09:20,720 --> 00:09:23,640 Speaker 1: on the ground that could be where we're heading. However, 178 00:09:23,880 --> 00:09:26,280 Speaker 1: there's still a lot of reason for skepticism that this 179 00:09:26,280 --> 00:09:28,520 Speaker 1: thing is anywhere close to a conclusion, and that's just 180 00:09:28,559 --> 00:09:31,360 Speaker 1: the sad reality. The new comments you alluded to before 181 00:09:31,480 --> 00:09:34,719 Speaker 1: from Zolensky coming out this morning. He says Ukraine is 182 00:09:34,760 --> 00:09:36,880 Speaker 1: at a turning point. He also says there is no 183 00:09:37,080 --> 00:09:40,400 Speaker 1: concrete progress on talks. He says, we don't believe fancy 184 00:09:40,400 --> 00:09:43,239 Speaker 1: word constructions. We believe in what happens on the battlefield. 185 00:09:43,280 --> 00:09:46,240 Speaker 1: He also added, we are fighting for freedom over tyranny, 186 00:09:46,280 --> 00:09:48,160 Speaker 1: and that gives us the right to ask for tanks, 187 00:09:48,360 --> 00:09:52,240 Speaker 1: planes and artillery. So what Zelensky is saying is, listen, 188 00:09:52,520 --> 00:09:55,200 Speaker 1: we had talks this week in Turkey. So far no 189 00:09:55,360 --> 00:09:59,400 Speaker 1: real progress on that front, and then we have the Russians. 190 00:09:59,720 --> 00:10:02,599 Speaker 1: This is laugh rob saying up there, go ahead and 191 00:10:02,640 --> 00:10:04,839 Speaker 1: put this last element up here. He says. On the 192 00:10:04,880 --> 00:10:07,760 Speaker 1: other hand, yes, we've made significant progress and there's positive movement. 193 00:10:07,800 --> 00:10:10,280 Speaker 1: He says Ukraine has recognized the need to give up 194 00:10:10,320 --> 00:10:12,360 Speaker 1: on NATO. That part is true, but also that Keith 195 00:10:12,440 --> 00:10:15,679 Speaker 1: understands quote the issues of Crimea and don Bass are 196 00:10:15,679 --> 00:10:18,880 Speaker 1: settled for good. I do not think that is. In fact, 197 00:10:19,360 --> 00:10:21,720 Speaker 1: I do not think he is telling the truth. Yeah, 198 00:10:21,720 --> 00:10:24,120 Speaker 1: so there's a lot of posturing that's happening. As we said, 199 00:10:24,440 --> 00:10:27,359 Speaker 1: I've tried to warn people before. There are many zelenskis. 200 00:10:27,440 --> 00:10:30,440 Speaker 1: Zelenski in the West where he's asking for NATO no 201 00:10:30,520 --> 00:10:34,240 Speaker 1: fly zones in World War Three, then Zelenski in Russian 202 00:10:34,360 --> 00:10:37,160 Speaker 1: whenever he's talking to actual Russian journalists he's yeah, we'll 203 00:10:37,200 --> 00:10:41,719 Speaker 1: negotiate on NATO all of this. And then there's Zelenski 204 00:10:41,840 --> 00:10:45,280 Speaker 1: at home. So trying to parse all three of those 205 00:10:45,320 --> 00:10:48,200 Speaker 1: different Zelenski's. Luckily for us with the Internet, we actually 206 00:10:48,200 --> 00:10:50,000 Speaker 1: can see all of that, shows you this is a 207 00:10:50,080 --> 00:10:52,920 Speaker 1: very dynamic situation. I've said this before. Something that we 208 00:10:53,120 --> 00:10:54,760 Speaker 1: spent a lot of time on in graduate school was 209 00:10:54,760 --> 00:10:59,040 Speaker 1: looking at ceasefires. Ceasefires mostly fail, but the more attempts 210 00:10:59,080 --> 00:11:01,480 Speaker 1: at a ceasefire that you have, the more likely that 211 00:11:01,520 --> 00:11:04,439 Speaker 1: one will eventually end up working in the long run. 212 00:11:04,600 --> 00:11:07,240 Speaker 1: So you're seeing here the swings and the ups and 213 00:11:07,280 --> 00:11:10,240 Speaker 1: downs of what peace negotiations and posturing and all of 214 00:11:10,240 --> 00:11:12,720 Speaker 1: that look like in the middle of a hot conflict 215 00:11:12,720 --> 00:11:15,680 Speaker 1: in a war in Ukraine. Exactly what Russia is doing. 216 00:11:15,760 --> 00:11:18,080 Speaker 1: We are not sure. It could be both an actual 217 00:11:18,120 --> 00:11:20,960 Speaker 1: withdrawal per the immense amount of casualties that they suffered. 218 00:11:21,080 --> 00:11:23,640 Speaker 1: It could also be a strategic withdrawal they planned the 219 00:11:23,800 --> 00:11:26,640 Speaker 1: entire time. They have accomplished some of their military objectives, 220 00:11:26,800 --> 00:11:29,520 Speaker 1: at least in part. Where do they go from here? 221 00:11:29,640 --> 00:11:32,000 Speaker 1: Will they say, all right, this is enough. If we 222 00:11:32,000 --> 00:11:34,800 Speaker 1: were to believe Scott Ritter's thread, then fine. This actually 223 00:11:34,840 --> 00:11:37,520 Speaker 1: gives the Kremlin the ability to say, good, we're good. 224 00:11:37,679 --> 00:11:40,240 Speaker 1: Let's wind this thing down, try and bring Russia back 225 00:11:40,280 --> 00:11:42,719 Speaker 1: into the community of Nations. I don't think that's very 226 00:11:42,800 --> 00:11:46,520 Speaker 1: likely at this point, given just geopolitical situation, but that 227 00:11:46,760 --> 00:11:48,200 Speaker 1: just goes to show you that we're at a real 228 00:11:48,280 --> 00:11:50,719 Speaker 1: turning point in the conflict. It's been almost more it's 229 00:11:50,720 --> 00:11:53,000 Speaker 1: been exactly I think more than a month now since 230 00:11:53,040 --> 00:11:55,640 Speaker 1: the six weeks yet six weeks almost since the invasion 231 00:11:55,960 --> 00:11:59,040 Speaker 1: actually began. And within all of that we can now 232 00:11:59,120 --> 00:12:02,960 Speaker 1: understand that things are either moving towards a bloody military 233 00:12:03,000 --> 00:12:07,280 Speaker 1: stalemate or some sort of ceasefire. I very much hope 234 00:12:07,320 --> 00:12:09,360 Speaker 1: for the seasfire and the piece, but the stalemate, I 235 00:12:09,400 --> 00:12:11,480 Speaker 1: would say, is equally likely. There's one other thing that 236 00:12:11,559 --> 00:12:14,640 Speaker 1: Russia has gotten out of this thus far, although at 237 00:12:14,679 --> 00:12:18,439 Speaker 1: a grave cost in terms of, you know, the economic 238 00:12:18,600 --> 00:12:21,640 Speaker 1: pressure and warfare that has been brought to bear on them. 239 00:12:21,679 --> 00:12:24,280 Speaker 1: And on their population, which is they really have found 240 00:12:24,320 --> 00:12:26,960 Speaker 1: out who's going to stand with them in the world, 241 00:12:27,520 --> 00:12:32,280 Speaker 1: even under the greatest duress. So you know, if they 242 00:12:32,600 --> 00:12:36,040 Speaker 1: wanted a test case of whether China was really going 243 00:12:36,120 --> 00:12:39,400 Speaker 1: to provide them sort of that limitless relationship and support, 244 00:12:39,559 --> 00:12:42,120 Speaker 1: I think we all have our answer here and that 245 00:12:42,240 --> 00:12:45,000 Speaker 1: sort of information. Look, it's valuable for us to know, 246 00:12:45,080 --> 00:12:47,920 Speaker 1: but it's also valuable for them to know. So that's 247 00:12:48,000 --> 00:12:50,800 Speaker 1: kind of the sad and depressing state of affairs. There 248 00:12:50,920 --> 00:12:53,280 Speaker 1: was one other piece here that we wanted to cover 249 00:12:53,600 --> 00:12:56,240 Speaker 1: and you know, sort of give you our thoughts on 250 00:12:56,360 --> 00:12:58,520 Speaker 1: Let's go ahead and put this next element up on 251 00:12:58,600 --> 00:13:02,040 Speaker 1: the screen. This is coming from our deep state, So 252 00:13:02,600 --> 00:13:06,520 Speaker 1: take that, ba will. But US intelligence, according to The 253 00:13:06,520 --> 00:13:10,680 Speaker 1: New York Times, is suggesting that Putin's advisors misinformed him 254 00:13:11,080 --> 00:13:13,439 Speaker 1: on Ukraine. Let me read you for a little bit 255 00:13:13,520 --> 00:13:16,240 Speaker 1: of this article here, they say. The intelligence, according to 256 00:13:16,320 --> 00:13:19,520 Speaker 1: multiple US officials, shows what appears to be growing tension 257 00:13:19,600 --> 00:13:22,000 Speaker 1: between mister Putin and the Ministry of Defense, including with 258 00:13:22,040 --> 00:13:25,240 Speaker 1: the Russian Defense Minister Sergei Shoigu, who was once among 259 00:13:25,240 --> 00:13:28,000 Speaker 1: the most trusted members of the Kremlins inner circle. They 260 00:13:28,040 --> 00:13:31,400 Speaker 1: go on to say that he seemed genuinely unaware that 261 00:13:31,440 --> 00:13:34,360 Speaker 1: the Russian military had been using conscripts in Ukraine and 262 00:13:34,400 --> 00:13:36,920 Speaker 1: that drafted soldiers were among those who were killed. Again, 263 00:13:36,960 --> 00:13:40,360 Speaker 1: that's according to US officials. They also said that mister 264 00:13:40,400 --> 00:13:44,120 Speaker 1: Putin had an incomplete understanding about how damaging Western sanctions 265 00:13:44,120 --> 00:13:46,800 Speaker 1: had been on the Russian economy, sort of more skeptical 266 00:13:46,840 --> 00:13:50,360 Speaker 1: of that piece. And he's put two top intelligence officials 267 00:13:50,400 --> 00:13:53,120 Speaker 1: under house arrest. We've seen that reported a couple times, 268 00:13:53,600 --> 00:13:56,520 Speaker 1: but that that move so basically, when he was unhappy 269 00:13:56,559 --> 00:13:58,800 Speaker 1: with how things were going and felt that he hadn't 270 00:13:58,840 --> 00:14:02,199 Speaker 1: gotten accurate information or that they hadn't been accurately prepared 271 00:14:02,559 --> 00:14:05,520 Speaker 1: to launch this war, he puts these two top intelligence 272 00:14:05,520 --> 00:14:08,960 Speaker 1: officials under house arrests. That that further contributed to a 273 00:14:09,000 --> 00:14:11,520 Speaker 1: climate of fear. So it didn't make people more like, oh, 274 00:14:11,600 --> 00:14:13,040 Speaker 1: now I'm going to tell him the truth. It made 275 00:14:13,120 --> 00:14:14,760 Speaker 1: him more like, now I'm going to be even more 276 00:14:14,800 --> 00:14:17,560 Speaker 1: cautious about what I do and what I say. Yeah, again, 277 00:14:18,200 --> 00:14:21,200 Speaker 1: it's the US intelligence community. They obviously have an agenda, 278 00:14:21,240 --> 00:14:23,760 Speaker 1: so you always have to take that for what it's worth. However, 279 00:14:24,160 --> 00:14:27,000 Speaker 1: is it crazy to think that this sort of autocratic person, 280 00:14:27,120 --> 00:14:28,960 Speaker 1: has a climate of fear around him, and a bunch 281 00:14:29,000 --> 00:14:30,440 Speaker 1: of yes men who had just sort of been telling 282 00:14:30,520 --> 00:14:32,840 Speaker 1: him for years what he wanted to hear, rather than 283 00:14:32,920 --> 00:14:36,040 Speaker 1: what the actual reality of Russian capabilities was. No, I 284 00:14:36,040 --> 00:14:38,560 Speaker 1: don't think that's crazy to imagine at all, and in fact, 285 00:14:38,800 --> 00:14:41,560 Speaker 1: you'd have to be surprised if it was anything other 286 00:14:41,640 --> 00:14:43,640 Speaker 1: than that situation. Yeah, I've been trying to think about this. 287 00:14:43,720 --> 00:14:45,640 Speaker 1: It goes against the grain of how I've thought. But 288 00:14:45,760 --> 00:14:48,000 Speaker 1: also I didn't think Putin was going to invade, period, 289 00:14:48,000 --> 00:14:50,200 Speaker 1: and the reason why is I thought he was a 290 00:14:50,280 --> 00:14:53,480 Speaker 1: much more rational actor than he clearly is so within 291 00:14:53,520 --> 00:14:57,000 Speaker 1: the realm of possibility, where he literally did invade Ukraine 292 00:14:57,360 --> 00:15:00,760 Speaker 1: and did something which cast Russia as a pariah state 293 00:15:00,840 --> 00:15:04,920 Speaker 1: and which had overwhelming backlash on their economy, this does 294 00:15:05,000 --> 00:15:07,560 Speaker 1: seem within the realm of possibility. It's very clear that 295 00:15:07,680 --> 00:15:11,200 Speaker 1: his information environment thought led him to believe this was 296 00:15:11,240 --> 00:15:14,119 Speaker 1: going to be a good idea and accomplish his objectives 297 00:15:14,280 --> 00:15:16,280 Speaker 1: relative to what he thought that the cost was going 298 00:15:16,360 --> 00:15:20,120 Speaker 1: to be. In this particular case. Again, my gut is 299 00:15:20,520 --> 00:15:22,960 Speaker 1: wants to tell me there's no way this is possible 300 00:15:23,200 --> 00:15:26,680 Speaker 1: in the age of the twenty first century and the Internet. 301 00:15:26,960 --> 00:15:29,720 Speaker 1: How can the leader of a nuclear armed power in 302 00:15:29,720 --> 00:15:32,760 Speaker 1: one of the great powers of Europe not have total 303 00:15:32,800 --> 00:15:36,040 Speaker 1: access to information? On the other hand, does this fit 304 00:15:36,320 --> 00:15:40,080 Speaker 1: with authoritarian despots who are stuck in a tough situation 305 00:15:40,480 --> 00:15:44,240 Speaker 1: all throughout history? Yeah, it does. So it's very hard 306 00:15:44,520 --> 00:15:47,680 Speaker 1: to parse obviously what is true and what is not. 307 00:15:48,280 --> 00:15:52,560 Speaker 1: I think also, you know, you can compare it to 308 00:15:52,680 --> 00:15:55,280 Speaker 1: I'm not saying that this is like the same or identical, 309 00:15:55,400 --> 00:15:58,160 Speaker 1: but Trump has managed to delude himself on a lot 310 00:15:58,160 --> 00:15:59,920 Speaker 1: of things, and we have a lot freer and more 311 00:16:00,080 --> 00:16:05,720 Speaker 1: open information ecosystem that he could avail himself of if 312 00:16:05,720 --> 00:16:08,760 Speaker 1: he wanted to, But his priority was always on having 313 00:16:08,800 --> 00:16:10,880 Speaker 1: people around him who were going to tell him what 314 00:16:10,920 --> 00:16:13,120 Speaker 1: he wanted to hear. Yeah, I saw it firsthand, and 315 00:16:13,120 --> 00:16:15,640 Speaker 1: so that fed into an you know, a lot of 316 00:16:15,680 --> 00:16:18,560 Speaker 1: delicious Look, this is basic human nature. People are very 317 00:16:18,560 --> 00:16:21,600 Speaker 1: susceptible to believe in the narrative that they ultimately want 318 00:16:21,640 --> 00:16:24,760 Speaker 1: to believe. So I don't think it's crazy to think 319 00:16:24,800 --> 00:16:29,680 Speaker 1: that there's a similar sort of information bubble around Putin 320 00:16:29,720 --> 00:16:32,640 Speaker 1: where he isn't getting the real Certainly going into this 321 00:16:32,800 --> 00:16:35,320 Speaker 1: wasn't getting the real analysis of what was going on. 322 00:16:35,600 --> 00:16:37,640 Speaker 1: You know, they're spending all sorts of money, I'm sure 323 00:16:37,640 --> 00:16:40,560 Speaker 1: on like soft power in Ukraine, so that when they 324 00:16:40,600 --> 00:16:44,040 Speaker 1: launched this they were telling him, yes, mister Putin, they're 325 00:16:44,160 --> 00:16:46,960 Speaker 1: all kinds of collaborators on the ground, just waiting to 326 00:16:47,000 --> 00:16:50,600 Speaker 1: welcome us, waiting to aid us. They couldn't tell him that, 327 00:16:50,720 --> 00:16:54,560 Speaker 1: you know, that money was wasted or stolen. So again, 328 00:16:55,240 --> 00:16:57,080 Speaker 1: take it for what it's worth. It comes from the 329 00:16:57,160 --> 00:16:59,920 Speaker 1: US intelligence community. But I also don't think it's crazy 330 00:17:00,080 --> 00:17:02,600 Speaker 1: to imagine that this is. In fact, it's interesting. There 331 00:17:02,760 --> 00:17:06,240 Speaker 1: was an interview with a mayor of a city. I 332 00:17:06,240 --> 00:17:08,439 Speaker 1: think it was Mario pol but I might be miss speaking. 333 00:17:08,440 --> 00:17:10,560 Speaker 1: We don't have this element. I literally just saw this morning. 334 00:17:10,560 --> 00:17:12,760 Speaker 1: But it was a Ukrainian mayor who had been taken 335 00:17:12,880 --> 00:17:14,960 Speaker 1: captive by the Russian right and now he's out, and 336 00:17:14,960 --> 00:17:17,119 Speaker 1: he gave an interview and something they said in the 337 00:17:17,160 --> 00:17:19,480 Speaker 1: interview which I found very interesting. Again, look, this guy's 338 00:17:19,520 --> 00:17:22,159 Speaker 1: also spinning propaganda, so you take this for what it is. 339 00:17:22,200 --> 00:17:25,000 Speaker 1: But he said, these Russian soldiers had no idea what 340 00:17:25,080 --> 00:17:29,000 Speaker 1: was going on. They said, we're here to denazify, and 341 00:17:29,040 --> 00:17:32,080 Speaker 1: he said, okay, there's no Nazis here. I mean, of 342 00:17:32,119 --> 00:17:34,160 Speaker 1: course he has an interest in saying that, we don't 343 00:17:34,160 --> 00:17:36,400 Speaker 1: know what's true. The second thing, though, is he said, 344 00:17:36,440 --> 00:17:39,840 Speaker 1: they said, okay, we're here to protect Russian speakers, and 345 00:17:39,880 --> 00:17:43,440 Speaker 1: the mayor was like, we all speak Russian, ninety five 346 00:17:43,480 --> 00:17:46,440 Speaker 1: percent of us speak Russians, Like, are you protecting me? Right? 347 00:17:46,520 --> 00:17:48,520 Speaker 1: And then the third thing they said was we heard 348 00:17:48,840 --> 00:17:54,040 Speaker 1: that you are you are tarnishing the reputations and harassing 349 00:17:54,840 --> 00:17:57,880 Speaker 1: veterans of the great patriotic war World War two who 350 00:17:57,920 --> 00:18:00,840 Speaker 1: fought And he said, no, we don't. We honor them 351 00:18:00,920 --> 00:18:03,920 Speaker 1: every year in the parade here in the city. So 352 00:18:04,040 --> 00:18:06,679 Speaker 1: he put all those three things together and therein it 353 00:18:06,800 --> 00:18:09,399 Speaker 1: just shows you the average Russian soldier who was you know, 354 00:18:09,440 --> 00:18:11,960 Speaker 1: doing and accomplishing this. They're living in a whole new world. 355 00:18:12,200 --> 00:18:15,080 Speaker 1: I believe it when it comes to them. I just 356 00:18:15,359 --> 00:18:18,960 Speaker 1: I just find it incredible that somebody like Putin, who 357 00:18:18,960 --> 00:18:21,760 Speaker 1: has access to the world's greatest information. Yeah, and you know, 358 00:18:21,800 --> 00:18:24,320 Speaker 1: the ability to compile all this stuff and Russia's you know, 359 00:18:24,320 --> 00:18:26,399 Speaker 1: famously as some of the best spy networks in the world. 360 00:18:26,800 --> 00:18:29,440 Speaker 1: Is he truly that crazy? Look? At the same time, 361 00:18:30,000 --> 00:18:32,840 Speaker 1: in the history of the Soviet Union in Russia. A 362 00:18:32,840 --> 00:18:35,520 Speaker 1: lot of ours and a lot of commissars in the 363 00:18:35,520 --> 00:18:39,440 Speaker 1: Soviet Union have repeated the same state mistake again. So look, 364 00:18:39,440 --> 00:18:41,480 Speaker 1: we take a lot of delusions about our country too. 365 00:18:41,840 --> 00:18:44,240 Speaker 1: So you know, I think it's sometimes it's easier to 366 00:18:44,359 --> 00:18:47,760 Speaker 1: evaluate the world than it is to evaluate yourself, maybe 367 00:18:47,880 --> 00:18:50,120 Speaker 1: right your own country and your own regime. He may 368 00:18:50,160 --> 00:18:53,000 Speaker 1: have fallen prey to that. There's one other little tantalizing 369 00:18:53,680 --> 00:18:55,840 Speaker 1: quote unquote news item that will put up there for it. 370 00:18:55,880 --> 00:18:57,960 Speaker 1: This is another take it for what it's worth kind 371 00:18:57,960 --> 00:19:01,480 Speaker 1: of a thing. This is from the Daily Mail. They're 372 00:19:01,520 --> 00:19:04,960 Speaker 1: reporting that Putin and his high command may already be 373 00:19:05,040 --> 00:19:10,600 Speaker 1: hunkering in secret nuclear bunkers after Kremlin spokesman said Russia 374 00:19:10,600 --> 00:19:13,080 Speaker 1: would use nukes in face of existential threat. We brought 375 00:19:13,119 --> 00:19:17,520 Speaker 1: you that comment where he refused to completely rule out 376 00:19:18,119 --> 00:19:20,919 Speaker 1: nukes and you know, would not take nukes off the table. 377 00:19:21,760 --> 00:19:26,360 Speaker 1: This again comes with a researcher for Bellingcat, which does 378 00:19:26,440 --> 00:19:30,760 Speaker 1: receive US funding among other funding sources, and they're saying 379 00:19:30,800 --> 00:19:35,760 Speaker 1: that they're tracking the flights around Russia and what they've 380 00:19:35,800 --> 00:19:39,280 Speaker 1: seen is that there have been flights going movements of 381 00:19:39,320 --> 00:19:42,040 Speaker 1: planes used by top Kremlin officials show Putin maybe in 382 00:19:42,040 --> 00:19:46,000 Speaker 1: a hideaway near Surgit in western Siberia. That's the claim. 383 00:19:46,040 --> 00:19:50,000 Speaker 1: His defense minister, who's been mysteriously absent, is also believed 384 00:19:50,080 --> 00:19:52,919 Speaker 1: by this report to be in a bunker near Ufa 385 00:19:53,040 --> 00:19:55,520 Speaker 1: in the Urals. That's a seven hundred and twenty five 386 00:19:55,560 --> 00:19:59,320 Speaker 1: miles east of Moscow. And so again this is based 387 00:19:59,320 --> 00:20:01,240 Speaker 1: on tracking the movement of his plane. They say, we 388 00:20:01,280 --> 00:20:03,520 Speaker 1: see very frequent flights to Ufah. I think that's how 389 00:20:03,520 --> 00:20:05,200 Speaker 1: you say it. I really have no idea knowing that 390 00:20:05,240 --> 00:20:07,400 Speaker 1: there are also protective bunkers in this region. This gives 391 00:20:07,480 --> 00:20:10,320 Speaker 1: us an obvious answer about his place of residents. And 392 00:20:10,359 --> 00:20:15,840 Speaker 1: they're using similar information of tracking state planes to make 393 00:20:15,920 --> 00:20:19,040 Speaker 1: this insinuation or this sort of projection of where Pudin 394 00:20:19,119 --> 00:20:20,480 Speaker 1: might be and what he might be up to it. 395 00:20:20,560 --> 00:20:22,439 Speaker 1: I don't know. The reason we bring it to you 396 00:20:22,520 --> 00:20:25,639 Speaker 1: is because even if there's like a one percent chance 397 00:20:25,720 --> 00:20:29,720 Speaker 1: that this is true, it's obviously extraordinarily ominous if Putin 398 00:20:29,760 --> 00:20:32,600 Speaker 1: and any of his top leadership are already hunkering down 399 00:20:32,600 --> 00:20:34,520 Speaker 1: a buggers. That's the thing. We don't know what this 400 00:20:34,560 --> 00:20:37,480 Speaker 1: man is thinking. I mean, he already did something incredibly irrational. 401 00:20:37,600 --> 00:20:40,119 Speaker 1: So now I mean everything really is on the table, 402 00:20:40,160 --> 00:20:42,560 Speaker 1: and that's what makes everything kind of terrifying in terms 403 00:20:42,600 --> 00:20:45,640 Speaker 1: of what is my mindset, is, what information that he's 404 00:20:45,680 --> 00:20:48,439 Speaker 1: getting and more. This really does test some of the 405 00:20:48,440 --> 00:20:51,520 Speaker 1: most basic theories of how to behave as a nuclear 406 00:20:51,520 --> 00:20:53,520 Speaker 1: power and the safeguards that you have to have in 407 00:20:53,560 --> 00:20:56,400 Speaker 1: place whenever it comes to nuclear war. So I'm gonna 408 00:20:56,400 --> 00:20:58,439 Speaker 1: be honest, I'm worried about it. I don't fully believe it. 409 00:20:58,480 --> 00:21:01,639 Speaker 1: Belling Kat obviously has not the best track record in 410 00:21:01,720 --> 00:21:04,760 Speaker 1: terms of what's going on. But Instagram data and others 411 00:21:04,760 --> 00:21:06,960 Speaker 1: that people had looked at with the relatives of some 412 00:21:06,960 --> 00:21:09,000 Speaker 1: of these people show them in the area, and that 413 00:21:09,080 --> 00:21:12,200 Speaker 1: I do believe in terms of what the report says. 414 00:21:12,280 --> 00:21:14,760 Speaker 1: So look, yeah, I don't get like the oligarchs. They 415 00:21:14,760 --> 00:21:17,800 Speaker 1: can't get the Aligars to stop post on kids. I 416 00:21:17,840 --> 00:21:20,560 Speaker 1: get it. I do the same the lavish lifestyle on 417 00:21:20,640 --> 00:21:24,480 Speaker 1: Instagram as they're going into the nuclear I two cannot 418 00:21:24,520 --> 00:21:27,159 Speaker 1: resist posting pictures of my cat on Instagram. It is 419 00:21:27,160 --> 00:21:29,720 Speaker 1: what it is. It's okay, all right, let's go ahead 420 00:21:29,760 --> 00:21:32,360 Speaker 1: and move on here. Everybody always asks us to bring 421 00:21:32,400 --> 00:21:35,760 Speaker 1: them good news. Well, finally here is some Biden is 422 00:21:35,800 --> 00:21:40,000 Speaker 1: poised to use Cold War powers to boost battery metals. Now, 423 00:21:40,240 --> 00:21:43,720 Speaker 1: it's a little odd that Bloomberg phrases Cold War powers 424 00:21:43,760 --> 00:21:47,680 Speaker 1: as the Defense Production Act, but whatever, I guess that's 425 00:21:47,680 --> 00:21:50,000 Speaker 1: what it takes here. The reason that this is important 426 00:21:50,160 --> 00:21:52,520 Speaker 1: is that the Defense Production Act is the ability of 427 00:21:52,520 --> 00:21:55,280 Speaker 1: the US government, as we saw under the Trump administration 428 00:21:55,359 --> 00:21:58,800 Speaker 1: with Operation warf Speed and other pandemic related matters, in 429 00:21:58,920 --> 00:22:01,879 Speaker 1: order to use the fact federal government to encourage third 430 00:22:01,880 --> 00:22:05,639 Speaker 1: party sellers and commission actual industrial capacity in order to 431 00:22:05,640 --> 00:22:09,199 Speaker 1: build something which is considered strategically important to the security 432 00:22:09,400 --> 00:22:11,920 Speaker 1: of the United States. We've been talking a lot here 433 00:22:12,080 --> 00:22:16,760 Speaker 1: about supply chains and batteries and electric vehicles specifically, there 434 00:22:16,760 --> 00:22:19,840 Speaker 1: has been a race for over twenty years over the 435 00:22:19,880 --> 00:22:23,080 Speaker 1: supply chains over batteries. The United States has lost that race. 436 00:22:23,119 --> 00:22:25,800 Speaker 1: We have no chance of winning it, at least in 437 00:22:25,840 --> 00:22:28,520 Speaker 1: the near term. The only chance we have is to 438 00:22:28,560 --> 00:22:31,160 Speaker 1: be competitive fifteen years from now. I did a rely 439 00:22:31,280 --> 00:22:33,919 Speaker 1: On podcast once with a guy named Steve Levine, one 440 00:22:33,960 --> 00:22:37,280 Speaker 1: of the world's experts on US battery supply chains, and 441 00:22:37,320 --> 00:22:42,040 Speaker 1: he was apocalyptic in terms of how reliant we are 442 00:22:42,760 --> 00:22:45,239 Speaker 1: on China, and a previous report that we brought you 443 00:22:45,480 --> 00:22:47,720 Speaker 1: here on the show. Let's put this up there from 444 00:22:47,760 --> 00:22:51,040 Speaker 1: the New York Times who did actually an excellent investigation 445 00:22:51,640 --> 00:22:55,400 Speaker 1: several months ago in November about the power struggle over 446 00:22:55,560 --> 00:22:59,359 Speaker 1: cobalt rattles the clean energy revolution, and what they point 447 00:22:59,400 --> 00:23:03,400 Speaker 1: to you there is this Chinese scramble for the Congo, 448 00:23:03,520 --> 00:23:07,080 Speaker 1: the Democratic Republic of the Congo's cobalt, which is a 449 00:23:07,200 --> 00:23:11,159 Speaker 1: vital piece for electric vehicles and batteries. And actually, in 450 00:23:11,240 --> 00:23:14,280 Speaker 1: terms of the actual supply chain here, the Chinese have 451 00:23:14,359 --> 00:23:17,800 Speaker 1: been going all over the world and buying and controlling, 452 00:23:18,480 --> 00:23:21,520 Speaker 1: Chinese buying, controlling many of these mines. So I'll just 453 00:23:21,600 --> 00:23:25,400 Speaker 1: read you here what exactly is process the most key 454 00:23:25,840 --> 00:23:29,119 Speaker 1: elements in terms of electric vehicles. Copper forty percent of 455 00:23:29,160 --> 00:23:32,639 Speaker 1: the world's copper is processed in China. Nickel about thirty 456 00:23:32,640 --> 00:23:34,880 Speaker 1: five percent of the world's nickel is process in China. 457 00:23:35,040 --> 00:23:37,879 Speaker 1: A lot of it also comes from crystal Russia, which 458 00:23:38,359 --> 00:23:42,720 Speaker 1: apparently we're not doing business with that nation. Three the cobalt, 459 00:23:42,760 --> 00:23:45,520 Speaker 1: over sixty five percent of the world's cobalt is processed 460 00:23:45,520 --> 00:23:48,520 Speaker 1: in China. Rare earth metals over eighty five percent of 461 00:23:48,520 --> 00:23:51,160 Speaker 1: the world's rare earth metals are processed in China. Lithium 462 00:23:51,200 --> 00:23:54,160 Speaker 1: about sixty percent of lithium in this world is processed 463 00:23:54,280 --> 00:23:57,280 Speaker 1: in China. So when you consider both production and then 464 00:23:57,400 --> 00:24:00,479 Speaker 1: process power, we are nowhere. We're not not even on 465 00:24:00,560 --> 00:24:02,959 Speaker 1: the map for any a single one of these. It's 466 00:24:03,000 --> 00:24:05,520 Speaker 1: been a total disaster. Part of the reason why even 467 00:24:05,520 --> 00:24:08,080 Speaker 1: in the Build Back Better plan, Biden was like, let's 468 00:24:08,080 --> 00:24:11,880 Speaker 1: build electric vehicle highway first. You can't build a highway 469 00:24:11,960 --> 00:24:14,320 Speaker 1: if you can't build the vehicles. This is part of 470 00:24:14,359 --> 00:24:17,159 Speaker 1: the problem that we have and why Elon Musk has 471 00:24:17,200 --> 00:24:19,480 Speaker 1: to go and kiss the ass of the Chinese because 472 00:24:19,720 --> 00:24:24,040 Speaker 1: they have built this huge electric battery supply chain. There 473 00:24:24,359 --> 00:24:27,280 Speaker 1: all the were earth metals, the processing power, the ability 474 00:24:27,320 --> 00:24:29,720 Speaker 1: of the factories, we have none of that. Now. What 475 00:24:29,880 --> 00:24:33,240 Speaker 1: this Defense Production Act would actually do is make it 476 00:24:33,280 --> 00:24:36,560 Speaker 1: so that we could build processing power and the domestic 477 00:24:36,840 --> 00:24:41,600 Speaker 1: production of key materials. It's all about both refining and 478 00:24:41,640 --> 00:24:44,080 Speaker 1: the production of those materials in order to make it 479 00:24:44,119 --> 00:24:46,400 Speaker 1: so that we can build the stuff here at home, 480 00:24:46,480 --> 00:24:49,400 Speaker 1: and especially in a transition period away from fossil fuels, 481 00:24:49,440 --> 00:24:52,160 Speaker 1: which will probably take twenty five to thirty five forty years. 482 00:24:52,480 --> 00:24:55,119 Speaker 1: In that time, we have got an immense amount of 483 00:24:55,119 --> 00:24:56,840 Speaker 1: work to do in order to build this up. So 484 00:24:56,880 --> 00:24:59,639 Speaker 1: I do want to applaud the Biden administration. Here is 485 00:25:00,000 --> 00:25:02,719 Speaker 1: excellent use of the federal government's powers. It's exactly what 486 00:25:02,720 --> 00:25:04,760 Speaker 1: we should be seeing for years on and I think 487 00:25:04,760 --> 00:25:06,840 Speaker 1: it's better for all of us. Look, the more, the 488 00:25:06,960 --> 00:25:10,080 Speaker 1: cheaper we can make electric cars, and that's all, it's 489 00:25:10,080 --> 00:25:12,239 Speaker 1: all about price, the cheaper that we can get it. 490 00:25:12,400 --> 00:25:15,720 Speaker 1: We need company neutral tax credits unlike the ones that 491 00:25:15,760 --> 00:25:18,720 Speaker 1: are currently being proposed, and drive the price down for 492 00:25:18,760 --> 00:25:21,480 Speaker 1: the average consumer in order to use in their day 493 00:25:21,480 --> 00:25:23,840 Speaker 1: to day commute. The better off that we're all going 494 00:25:23,920 --> 00:25:26,359 Speaker 1: to be. But it's going to require a total redo 495 00:25:26,560 --> 00:25:29,560 Speaker 1: of our entire supply chain. So I'm very very heartened 496 00:25:29,560 --> 00:25:30,959 Speaker 1: to see this. Yeah, and by the way, I mean 497 00:25:31,000 --> 00:25:34,119 Speaker 1: this has downstream effects. So people who are able to 498 00:25:34,240 --> 00:25:36,080 Speaker 1: switch to an electric vehicle, and by the way, there's 499 00:25:36,080 --> 00:25:38,520 Speaker 1: a massive demand right now, as you can imagine with 500 00:25:39,000 --> 00:25:42,040 Speaker 1: how high gas prices are, if they're able to buy 501 00:25:42,080 --> 00:25:44,560 Speaker 1: the electric vehicles then they want, then that takes more 502 00:25:44,600 --> 00:25:47,639 Speaker 1: pressure out of the gas market and makes gas prices 503 00:25:47,680 --> 00:25:50,200 Speaker 1: lower for people who still have you know traditional gas 504 00:25:50,200 --> 00:25:53,679 Speaker 1: powered vehicles. I can tell you from personal experience, you 505 00:25:53,760 --> 00:25:57,160 Speaker 1: basically can't get an electric vehicle right now, which has 506 00:25:57,240 --> 00:25:59,800 Speaker 1: more to do at the moment with supply chain issues 507 00:25:59,800 --> 00:26:04,320 Speaker 1: and in particular chip shortages because the electric vehicles also 508 00:26:04,359 --> 00:26:08,280 Speaker 1: take more chips yep than your average vehicle. So there's 509 00:26:08,320 --> 00:26:10,200 Speaker 1: a lot of problems to work out here. I mean, 510 00:26:10,240 --> 00:26:13,000 Speaker 1: I think this is to be applauded, I don't want 511 00:26:13,000 --> 00:26:14,840 Speaker 1: to take away from it, but it's also a thing 512 00:26:14,840 --> 00:26:17,280 Speaker 1: of like this should have been done under the Obama missure. 513 00:26:17,400 --> 00:26:20,600 Speaker 1: I mean, we're like, we're decades late here, and we're 514 00:26:20,640 --> 00:26:23,000 Speaker 1: so late to the game. The most that this could 515 00:26:23,040 --> 00:26:25,240 Speaker 1: do is sort of like kickstart, you know, a little 516 00:26:25,240 --> 00:26:28,960 Speaker 1: bit of production here. Also, we should tumber our expectations 517 00:26:28,960 --> 00:26:31,480 Speaker 1: because what they say in this Bloomberg piece, which I 518 00:26:31,480 --> 00:26:33,360 Speaker 1: still don't really understand why they framed it as hold 519 00:26:33,359 --> 00:26:36,200 Speaker 1: both powers. It's weird. But anyway, the present signature is 520 00:26:36,200 --> 00:26:38,040 Speaker 1: a big signal, they say. But it's incumbent on the 521 00:26:38,040 --> 00:26:41,400 Speaker 1: Congress to appropriate dollars that are commensurate with the challenge. 522 00:26:41,640 --> 00:26:44,600 Speaker 1: Because the DPA, the Defense Production Act, is a quote 523 00:26:44,640 --> 00:26:47,439 Speaker 1: small piggybank considering you must cover sectors from aerospace and 524 00:26:47,480 --> 00:26:51,639 Speaker 1: defense to the automotive industry. So President signature, you know 525 00:26:51,720 --> 00:26:54,680 Speaker 1: him taking executive action. That's good. Now we need Congress 526 00:26:54,720 --> 00:26:57,280 Speaker 1: to appropriate the funds. We will see if they actually 527 00:26:57,359 --> 00:26:59,240 Speaker 1: do that. Yeah, and that's part of both the Chips 528 00:26:59,280 --> 00:27:01,520 Speaker 1: Act and a lot of other stuff that's happening. Let's 529 00:27:01,520 --> 00:27:03,680 Speaker 1: put this up there also from the Guardian a great 530 00:27:03,720 --> 00:27:08,320 Speaker 1: piece also that needs consideration, which is that the battery 531 00:27:08,480 --> 00:27:12,080 Speaker 1: arms race and the Chinese monopolization of this is really stunning. 532 00:27:12,119 --> 00:27:14,199 Speaker 1: I mean, I just read you some of those numbers, 533 00:27:14,240 --> 00:27:17,040 Speaker 1: but it's important because also it can show you what 534 00:27:17,160 --> 00:27:19,400 Speaker 1: Chinese soft pa. Look, I'm not saying our soft power 535 00:27:19,480 --> 00:27:23,000 Speaker 1: is great, but Chinese soft power in Africa is not pretty. 536 00:27:23,000 --> 00:27:26,560 Speaker 1: And they quote a lot of Congolese miners here talking 537 00:27:26,560 --> 00:27:30,160 Speaker 1: about how they're overworked. They're treated completely terribly. Quote they 538 00:27:30,240 --> 00:27:32,320 Speaker 1: like to raise their voices. Even for a small fault, 539 00:27:32,359 --> 00:27:35,520 Speaker 1: you are punished. The Chinese are there to control the Conglese. 540 00:27:35,800 --> 00:27:38,040 Speaker 1: This is a worker who actually works at one of 541 00:27:38,080 --> 00:27:41,760 Speaker 1: those majority owned Chinese mines in the Congo and is 542 00:27:41,800 --> 00:27:44,560 Speaker 1: controlled by that country. And why it matters is that 543 00:27:44,600 --> 00:27:47,000 Speaker 1: they've been playing the long game here for a long time. 544 00:27:47,560 --> 00:27:50,880 Speaker 1: I mean, they're batteries. And I've even heard friends who 545 00:27:50,920 --> 00:27:53,159 Speaker 1: live in California who have access to some of these 546 00:27:53,240 --> 00:27:56,840 Speaker 1: Chinese electric cars. Let's be honest here. These are great cars. 547 00:27:56,920 --> 00:28:01,160 Speaker 1: They're very very good functional cars, long range, they drive 548 00:28:01,280 --> 00:28:03,840 Speaker 1: really well. I mean, look, you know, Tesla's awesome. But 549 00:28:03,960 --> 00:28:06,520 Speaker 1: we have to be honest here that real competition is 550 00:28:06,560 --> 00:28:09,520 Speaker 1: coming down the line. And given the fact that apparently 551 00:28:09,560 --> 00:28:11,960 Speaker 1: we don't believe in tariffs anymore in this country, it 552 00:28:12,000 --> 00:28:14,920 Speaker 1: would not surprise me whatsoever in order to see a 553 00:28:15,040 --> 00:28:18,320 Speaker 1: Chinese electric vehicle company take significant market share in the 554 00:28:18,400 --> 00:28:20,880 Speaker 1: United States, especially if they can drive the price down. 555 00:28:21,000 --> 00:28:23,800 Speaker 1: This is also such a missed opportunity from the Trump 556 00:28:23,840 --> 00:28:27,919 Speaker 1: administration because, I mean, for all his talk about China 557 00:28:28,480 --> 00:28:30,959 Speaker 1: on the things that would have actually mattered sleep at 558 00:28:30,960 --> 00:28:33,600 Speaker 1: the switch. I mean, I think part of that just 559 00:28:33,640 --> 00:28:36,920 Speaker 1: comes from, you know, he's an unseerial, fundamentally unserious person. 560 00:28:37,119 --> 00:28:38,880 Speaker 1: But the people who work for him they should know, right. 561 00:28:39,200 --> 00:28:41,600 Speaker 1: And I think part of that also though, is because 562 00:28:41,680 --> 00:28:44,240 Speaker 1: you have so much like climate denialism and this like 563 00:28:44,760 --> 00:28:47,440 Speaker 1: for a long time, the idea of electric vehicles was 564 00:28:47,480 --> 00:28:50,960 Speaker 1: like this sort of smeared as this liberal hippie dippy thing. 565 00:28:51,440 --> 00:28:53,560 Speaker 1: To his credit, I think Elon Musk has helped to 566 00:28:53,640 --> 00:28:56,760 Speaker 1: change Elon change that impression with his just like shit 567 00:28:56,800 --> 00:29:01,120 Speaker 1: posting online but whatever, Yeah, helped like move the entire 568 00:29:01,160 --> 00:29:04,200 Speaker 1: country in about our direction. That's fine. But this is 569 00:29:04,480 --> 00:29:07,600 Speaker 1: if they actually wanted to compete with China, stand up 570 00:29:07,640 --> 00:29:10,239 Speaker 1: to China, forge a different type of relationship. These are 571 00:29:10,280 --> 00:29:12,280 Speaker 1: the type of things that they would have been doing. 572 00:29:12,320 --> 00:29:14,440 Speaker 1: And I think it's as you know, it's revealing, not 573 00:29:14,480 --> 00:29:18,880 Speaker 1: that it's surprising that they weren't engaged in anything significant 574 00:29:18,880 --> 00:29:20,760 Speaker 1: that actually would have positioned us in a better place. 575 00:29:20,840 --> 00:29:22,680 Speaker 1: Like you said, look, this is tip of the iceberg, 576 00:29:22,720 --> 00:29:24,080 Speaker 1: but this is exactly the type of stuff that we 577 00:29:24,080 --> 00:29:26,520 Speaker 1: need to see. We need to set these precedents in Washington, 578 00:29:26,600 --> 00:29:29,880 Speaker 1: get the Congress moving, and actually began production, because if 579 00:29:29,880 --> 00:29:33,360 Speaker 1: we want to win any semblance of the future, do 580 00:29:33,360 --> 00:29:35,240 Speaker 1: you guys like paying you know in LA where I 581 00:29:35,360 --> 00:29:38,360 Speaker 1: was six fifty a gallon, No, it's totally crazy. We 582 00:29:38,480 --> 00:29:40,280 Speaker 1: need to have it so that you have the ability 583 00:29:40,520 --> 00:29:43,960 Speaker 1: for actual middle class and poor people to buy electric cars. 584 00:29:44,000 --> 00:29:46,320 Speaker 1: I would say that that is the biggest hurdle right now, 585 00:29:46,360 --> 00:29:48,520 Speaker 1: Right now, it's a luxury vehicle. That's fine. If you 586 00:29:48,520 --> 00:29:50,880 Speaker 1: could afford it, it's awesome. But we need to make 587 00:29:50,920 --> 00:29:53,680 Speaker 1: it so that it's downstream and an actual cost effective 588 00:29:53,880 --> 00:29:56,600 Speaker 1: and make the companies then invest in that big time. 589 00:29:56,640 --> 00:29:58,480 Speaker 1: So this is a very small step in that direction. 590 00:29:58,720 --> 00:30:00,880 Speaker 1: We want to applaud it. Move on to the next 591 00:30:00,880 --> 00:30:03,640 Speaker 1: part of here. Another important thing that the Biden administration 592 00:30:03,720 --> 00:30:06,440 Speaker 1: is considering doing today, although have some mix quibbles with it, 593 00:30:06,520 --> 00:30:08,800 Speaker 1: let's put this up there on the screen. The United 594 00:30:08,840 --> 00:30:12,080 Speaker 1: States currently is weighing the largest ever draw from the 595 00:30:12,120 --> 00:30:16,000 Speaker 1: emergency oil reserve, the Strategic Petroleum Reserve. This has not 596 00:30:16,080 --> 00:30:19,200 Speaker 1: yet been announced, but what the administration is considering, and 597 00:30:19,240 --> 00:30:22,880 Speaker 1: the announcement could come as soon as today, is the 598 00:30:22,920 --> 00:30:27,280 Speaker 1: release of one million barrels a day from the Strategic 599 00:30:27,400 --> 00:30:31,120 Speaker 1: Petroleum Reserve. Now, there's a couple of things that are 600 00:30:31,160 --> 00:30:34,040 Speaker 1: important to note here. Will one million barrels a day 601 00:30:34,120 --> 00:30:37,640 Speaker 1: make a difference? Yes and no. So crude oil on 602 00:30:37,800 --> 00:30:41,160 Speaker 1: Wednesday still is trading at one hundred and five dollars 603 00:30:41,200 --> 00:30:45,360 Speaker 1: a barrel. Now the issue here is, of course, oil 604 00:30:45,600 --> 00:30:48,280 Speaker 1: is a global market in the way that it's priced, 605 00:30:48,440 --> 00:30:52,960 Speaker 1: So will one million barrels a day significantly have an 606 00:30:53,000 --> 00:30:57,400 Speaker 1: impact on price. Energy analysts are mixed. At the same time, 607 00:30:57,760 --> 00:31:02,000 Speaker 1: it is still important for the administration to do something 608 00:31:02,360 --> 00:31:05,040 Speaker 1: in order to lower the price of gas. So I 609 00:31:05,120 --> 00:31:07,240 Speaker 1: went ahead and I asked a couple of energy analysts 610 00:31:07,320 --> 00:31:09,960 Speaker 1: late last night whether this is a good thing. So 611 00:31:10,040 --> 00:31:12,080 Speaker 1: here's what one says. I'm not going to quote him directly. 612 00:31:12,440 --> 00:31:14,800 Speaker 1: He says, the one good thing is that they're supposedly 613 00:31:14,840 --> 00:31:18,920 Speaker 1: planning on doing it slowly rather than one big shot. However, 614 00:31:19,000 --> 00:31:21,720 Speaker 1: if it is not paired with other efforts to fix 615 00:31:21,800 --> 00:31:25,720 Speaker 1: the imbalance, then they are not going after the systemic 616 00:31:25,800 --> 00:31:28,120 Speaker 1: problem and they have in the oil markets. So part 617 00:31:28,160 --> 00:31:30,080 Speaker 1: of the issue, as we've explained, and I'll do it 618 00:31:30,160 --> 00:31:34,480 Speaker 1: just very briefly again, is that basically, investors in Wall 619 00:31:34,520 --> 00:31:38,680 Speaker 1: Street financed ten years of shale oil drilling here in America. 620 00:31:38,840 --> 00:31:41,480 Speaker 1: They took a bath because of COVID and they lost 621 00:31:41,520 --> 00:31:45,240 Speaker 1: over five hundred billion dollars. So right now oil prices 622 00:31:45,320 --> 00:31:48,240 Speaker 1: and the high profits the oil companies have, that's paying 623 00:31:48,320 --> 00:31:51,680 Speaker 1: back the investors for all the cash that they lost. Previously, 624 00:31:51,920 --> 00:31:54,840 Speaker 1: we've already had oil company CEO say we would not 625 00:31:54,960 --> 00:31:57,360 Speaker 1: drill if oil is even two hundred dollars a barrel. 626 00:31:57,360 --> 00:32:01,120 Speaker 1: Pioneers CEO literally said that on live television. Why does 627 00:32:01,120 --> 00:32:04,720 Speaker 1: that matter? It means there is a capital imbalance in 628 00:32:04,760 --> 00:32:08,120 Speaker 1: the oil market. Only the government can fix that. We 629 00:32:08,200 --> 00:32:11,000 Speaker 1: have not yet seen any effort in order to fix 630 00:32:11,360 --> 00:32:14,800 Speaker 1: that specific part, and that's going to require some pain 631 00:32:15,160 --> 00:32:17,160 Speaker 1: on the oil company's part too, to be like, hey, 632 00:32:17,280 --> 00:32:19,080 Speaker 1: you guys are gonna have to drill, We're gonna have 633 00:32:19,120 --> 00:32:21,440 Speaker 1: to make this up. You can't just reap massive profits 634 00:32:21,480 --> 00:32:24,440 Speaker 1: off of us. But there's none of that conversation happening yet. 635 00:32:24,480 --> 00:32:27,120 Speaker 1: We had that guy Skanda amaranath On he had a 636 00:32:27,160 --> 00:32:30,640 Speaker 1: plan specifically using the spr the strategy Patrolium reserve in 637 00:32:30,760 --> 00:32:33,040 Speaker 1: order to help set price and fix some of the 638 00:32:33,080 --> 00:32:36,160 Speaker 1: imbalance in terms of drilling, which also has a sunset 639 00:32:36,240 --> 00:32:39,240 Speaker 1: so that you don't finance these oil companies for the future. 640 00:32:39,280 --> 00:32:41,160 Speaker 1: So it's a tiny little step, and it's kind of 641 00:32:41,200 --> 00:32:42,880 Speaker 1: like the electric vehicle thing we just talked about. It's 642 00:32:42,880 --> 00:32:44,600 Speaker 1: a tiny little step in the right direction. Yeah, is 643 00:32:44,600 --> 00:32:46,760 Speaker 1: it gonna lower price to like three p fifty a 644 00:32:46,800 --> 00:32:48,440 Speaker 1: gallon or three dollars? No, it's not going to do 645 00:32:48,440 --> 00:32:51,600 Speaker 1: that at all. Upon the news that they were considering this. 646 00:32:51,920 --> 00:32:56,680 Speaker 1: Prices did drop. Market prices did drop, so that shows 647 00:32:56,680 --> 00:32:59,480 Speaker 1: that they think it will have some impact. Right now, 648 00:32:59,520 --> 00:33:02,840 Speaker 1: the numbers are the US consumes about twenty million barrels 649 00:33:02,880 --> 00:33:05,720 Speaker 1: of oil a day, so when you're thinking about one 650 00:33:05,800 --> 00:33:10,280 Speaker 1: million sparrels, I mean, it's still yeah, it's something, it's something, 651 00:33:10,560 --> 00:33:14,800 Speaker 1: and I think probably it's Honestly, what greater significance is 652 00:33:15,080 --> 00:33:18,640 Speaker 1: in the political messaging. As you said, people are telling 653 00:33:18,680 --> 00:33:21,400 Speaker 1: posters and this is really across the board that the 654 00:33:21,400 --> 00:33:23,600 Speaker 1: Biden administration is not focused on the issues that they 655 00:33:23,600 --> 00:33:26,400 Speaker 1: care most about. That the number one issue that they 656 00:33:26,400 --> 00:33:28,920 Speaker 1: are concerned about that is eating into their budgets making 657 00:33:28,960 --> 00:33:32,000 Speaker 1: it impossible for them to make ends meet is inflation. 658 00:33:32,200 --> 00:33:34,200 Speaker 1: So this is an attempt to say, look, we're doing 659 00:33:34,280 --> 00:33:36,520 Speaker 1: something here that's significant. It's more than it has ever 660 00:33:36,520 --> 00:33:39,480 Speaker 1: been done before in terms of releases from the Strategic 661 00:33:39,640 --> 00:33:43,360 Speaker 1: Petroleum Reserve, so we shall see. I mean, the probably 662 00:33:43,440 --> 00:33:46,600 Speaker 1: more significant to the price of gas is the fact 663 00:33:46,600 --> 00:33:50,040 Speaker 1: that you have these new lockdowns in China, oh, reducing 664 00:33:50,920 --> 00:33:53,480 Speaker 1: gas consumption, because I mean that's what happened, of course, 665 00:33:53,720 --> 00:33:57,800 Speaker 1: when we had COVID across around the globe in lockdowns. 666 00:33:57,920 --> 00:34:01,520 Speaker 1: With regards to covid is, you had just dropped through 667 00:34:01,520 --> 00:34:04,000 Speaker 1: the floor. I mean at one point like going negative 668 00:34:04,080 --> 00:34:07,480 Speaker 1: on oil futures and it was crazy. So that will 669 00:34:07,480 --> 00:34:09,320 Speaker 1: probably have more of an impact. And we have already 670 00:34:09,360 --> 00:34:11,840 Speaker 1: seen gas prices take down a little bit through no 671 00:34:12,000 --> 00:34:15,279 Speaker 1: doing of the Biden administration. On the other hand, the fact, 672 00:34:15,320 --> 00:34:17,520 Speaker 1: as you covered Saga on Tuesday, the fact that you 673 00:34:17,560 --> 00:34:19,920 Speaker 1: do have these lockdowns in China makes all sorts of 674 00:34:19,960 --> 00:34:23,560 Speaker 1: other parts of our supply chain completely screwed up. And 675 00:34:23,600 --> 00:34:26,040 Speaker 1: then you layer on top of that, you know looming 676 00:34:26,080 --> 00:34:29,200 Speaker 1: food crisis that Biden says is quote going to be real, 677 00:34:29,880 --> 00:34:32,680 Speaker 1: going to be real because of the war, because of 678 00:34:32,719 --> 00:34:34,600 Speaker 1: sanctions and all of this, and it's still a pretty 679 00:34:34,680 --> 00:34:38,680 Speaker 1: pretty grim landscape. Biden just has this terrible ability to 680 00:34:38,680 --> 00:34:41,600 Speaker 1: be like, yeah, this is bad, but then do nothing 681 00:34:41,719 --> 00:34:44,880 Speaker 1: about it. I mean, look, I just gave him credit 682 00:34:44,920 --> 00:34:48,080 Speaker 1: for the DPA and for oil. I think that's great, 683 00:34:48,360 --> 00:34:51,399 Speaker 1: But we need some real strategic plans here. Everything from 684 00:34:51,400 --> 00:34:53,680 Speaker 1: them is totally half appen, not just for the next month, 685 00:34:53,719 --> 00:34:56,600 Speaker 1: but for the next decade, for the next twenty years. Yeah, 686 00:34:56,600 --> 00:34:58,399 Speaker 1: there's so much that Wei. This is the moment when 687 00:34:58,400 --> 00:35:00,399 Speaker 1: you could set us up. I mean, you know, that's 688 00:35:00,440 --> 00:35:02,640 Speaker 1: the one thing when you have this kind of crisis 689 00:35:02,640 --> 00:35:04,640 Speaker 1: and the stakes are really clear, and people, you know, 690 00:35:04,719 --> 00:35:08,040 Speaker 1: really get how all these pieces are so fundamental, and 691 00:35:08,239 --> 00:35:11,759 Speaker 1: you know you're just kind of tinkering around the margins, 692 00:35:13,200 --> 00:35:16,719 Speaker 1: nip and tuck on this and that things. It's wildly insufficient. 693 00:35:16,760 --> 00:35:18,200 Speaker 1: I can't be the only one. I originally checked my 694 00:35:18,200 --> 00:35:20,319 Speaker 1: power bill. The thing is completely out of control. So 695 00:35:20,719 --> 00:35:22,319 Speaker 1: there's a lot of people out there. People are paying 696 00:35:22,400 --> 00:35:25,040 Speaker 1: a lot of money, both the pump in terms of food, 697 00:35:25,160 --> 00:35:27,440 Speaker 1: in terms of gas. I mean, this is all stuff 698 00:35:27,640 --> 00:35:30,200 Speaker 1: that really adds up for normal folks. So this is 699 00:35:30,239 --> 00:35:31,840 Speaker 1: the time when you could do something about it. But 700 00:35:32,000 --> 00:35:36,880 Speaker 1: a broken record whenever it comes to that. Indeed, all right, 701 00:35:36,920 --> 00:35:40,000 Speaker 1: let's move on to Hunter Biden. So this is a 702 00:35:40,040 --> 00:35:45,240 Speaker 1: fun one. Basically, the media two years later has decided, Okay, 703 00:35:45,640 --> 00:35:49,080 Speaker 1: now it's time to acknowledge the Hunter Biden laptop is real. 704 00:35:49,360 --> 00:35:51,760 Speaker 1: I suspect, and I think you do too. It's because 705 00:35:52,000 --> 00:35:55,759 Speaker 1: the federal grand jury is hearing these cases very seriously, 706 00:35:56,040 --> 00:35:59,160 Speaker 1: and he might actually be criminally indicted. They can't deny it, 707 00:35:59,200 --> 00:36:01,680 Speaker 1: but they can't deny it anymore to get out item 708 00:36:01,960 --> 00:36:05,200 Speaker 1: Justice Department has now validated the laptop, so they can't 709 00:36:05,200 --> 00:36:07,279 Speaker 1: play dumb anymore. You can't play dumb anymore. So now 710 00:36:07,280 --> 00:36:09,480 Speaker 1: everybody's like, oh, actually, you know that laptop that we 711 00:36:09,480 --> 00:36:11,839 Speaker 1: all said was fake. Oh yeah, that's actually totally real. 712 00:36:11,880 --> 00:36:13,880 Speaker 1: So let's gohea and put this up there on the screen. 713 00:36:13,920 --> 00:36:16,680 Speaker 1: This is from the Washington Post. So there's a lot 714 00:36:16,719 --> 00:36:20,000 Speaker 1: going on here. The Washington Post says inside Hunter Biden's 715 00:36:20,080 --> 00:36:24,200 Speaker 1: multi million dollar deals with the Chinese energy company. The subhead, 716 00:36:24,280 --> 00:36:28,399 Speaker 1: a Washington Post review confirms key details and offers new 717 00:36:28,440 --> 00:36:32,840 Speaker 1: documentation of Biden family interactions with Chinese executive and what 718 00:36:32,880 --> 00:36:37,400 Speaker 1: they point to specifically is on August TEWOD twenty seventeen, 719 00:36:37,719 --> 00:36:41,719 Speaker 1: signatures were quickly affixed from Hunter Biden and Chinese executive 720 00:36:41,719 --> 00:36:45,320 Speaker 1: Gong went Don, and within days a new Cathay Bank 721 00:36:45,320 --> 00:36:49,080 Speaker 1: account was created. Within a week, millions of dollars started 722 00:36:49,120 --> 00:36:51,960 Speaker 1: to change hands. However, within a year it would all 723 00:36:52,000 --> 00:36:55,040 Speaker 1: begin to collapse. What they point to is a previously 724 00:36:55,120 --> 00:36:57,439 Speaker 1: known and we will get to that deal between Hunter 725 00:36:57,480 --> 00:37:01,879 Speaker 1: Biden and the cf CEFC China Energy Corporations, which has 726 00:37:01,920 --> 00:37:05,400 Speaker 1: direct ties to the Chinese Communist Party, that Chinese energy 727 00:37:05,400 --> 00:37:09,400 Speaker 1: conglomerate paid four point eight million dollars to entities that 728 00:37:09,560 --> 00:37:13,240 Speaker 1: was controlled by Hunter Biden and his uncle James Biden, 729 00:37:13,440 --> 00:37:16,680 Speaker 1: the brother of the president. Court documents and newly disclosed 730 00:37:16,880 --> 00:37:22,400 Speaker 1: bank statements, as well as emails contained on a copy 731 00:37:22,480 --> 00:37:26,800 Speaker 1: of a laptop hard drive that once belonged to Hunter Biden, 732 00:37:27,040 --> 00:37:30,000 Speaker 1: and what they specifically point to is that Hunter Biden's 733 00:37:30,160 --> 00:37:34,440 Speaker 1: laptop was confirmed. Why the Washington posts very interesting? You know, 734 00:37:34,520 --> 00:37:37,359 Speaker 1: it was confirmed the day he didn't deny that it 735 00:37:37,440 --> 00:37:41,600 Speaker 1: was his. Okay, all the hallmarks of Russian disinformation, all 736 00:37:41,640 --> 00:37:44,120 Speaker 1: the hallmarks. This is the same outlet which ran these 737 00:37:44,120 --> 00:37:47,160 Speaker 1: types of stories. And what they point to is that 738 00:37:47,560 --> 00:37:51,520 Speaker 1: the CFC deal became one of the most lucrative, if 739 00:37:51,600 --> 00:37:56,080 Speaker 1: short lived, foreign ventures that Hunter is known to have pursued. 740 00:37:56,520 --> 00:38:00,680 Speaker 1: The Post review draws in part on an end analysis 741 00:38:00,800 --> 00:38:03,960 Speaker 1: of the hard drive of the laptop computer. And I 742 00:38:04,000 --> 00:38:07,680 Speaker 1: think what is so important here is that this is 743 00:38:07,719 --> 00:38:10,280 Speaker 1: this the most important thing in the world. No, Okay, 744 00:38:10,480 --> 00:38:12,480 Speaker 1: in terms of the evidence within the story, Have they 745 00:38:12,480 --> 00:38:15,160 Speaker 1: directly connected Joe Biden to that. No, Although you can 746 00:38:15,200 --> 00:38:18,279 Speaker 1: go read that email from Tony Bobolinski around the big 747 00:38:18,320 --> 00:38:22,120 Speaker 1: guy and specifically connected to a China deal. But here's 748 00:38:22,160 --> 00:38:25,840 Speaker 1: the basic fact pattern. The president's son and the president's 749 00:38:25,840 --> 00:38:29,320 Speaker 1: brother received millions of dollars from the Chinese Communist Party 750 00:38:29,440 --> 00:38:31,759 Speaker 1: and used those dollars in a slush fund. Oh and 751 00:38:31,800 --> 00:38:34,600 Speaker 1: also didn't pay any tax allegedly did not pay any 752 00:38:34,640 --> 00:38:37,560 Speaker 1: of their taxes on any of this. That's pretty sketchy. 753 00:38:37,760 --> 00:38:39,719 Speaker 1: Now do you think that they did it out of 754 00:38:39,760 --> 00:38:42,280 Speaker 1: the goodness of their heart? That the Chinese Communist Party 755 00:38:42,480 --> 00:38:45,680 Speaker 1: is wiring the former vice president's son and now current 756 00:38:45,719 --> 00:38:49,040 Speaker 1: president's son all of this money. My personal favorite Crystal 757 00:38:49,440 --> 00:38:54,359 Speaker 1: was whenever they did not pay his bills, Hunter actually 758 00:38:54,960 --> 00:39:01,239 Speaker 1: threatened to sue them in Delaware court. Specific said, just 759 00:39:01,320 --> 00:39:05,359 Speaker 1: so you know, I know all all the judges in Delaware. Yeah, 760 00:39:05,840 --> 00:39:08,920 Speaker 1: because they questioned that's not that little detail is funny too, 761 00:39:09,120 --> 00:39:12,160 Speaker 1: because they questioned one of the expenses that he was 762 00:39:12,200 --> 00:39:15,479 Speaker 1: trying to get reimbursed. Last show we brought you, how 763 00:39:15,640 --> 00:39:17,520 Speaker 1: you know he was getting money that was for a 764 00:39:17,600 --> 00:39:20,120 Speaker 1: car for like one hundred and fifty thousand dollars sports 765 00:39:20,200 --> 00:39:23,440 Speaker 1: cars car. Yeah, I don't even really know what it is, 766 00:39:23,480 --> 00:39:26,440 Speaker 1: that's how fancy it is. But yeah, so he was 767 00:39:26,440 --> 00:39:31,080 Speaker 1: clearly using this to fund an insanely lavish lifestyle, allegedly 768 00:39:31,120 --> 00:39:33,480 Speaker 1: according to you know, some of the investigations with the 769 00:39:33,520 --> 00:39:35,880 Speaker 1: grand jury, maybe not paying his taxes on some of 770 00:39:35,920 --> 00:39:38,600 Speaker 1: those things, certainly getting behind on his taxes. And I 771 00:39:38,640 --> 00:39:42,279 Speaker 1: think in terms of political relevance, like, it's very obvious here, guys, 772 00:39:42,320 --> 00:39:45,000 Speaker 1: you don't need a direct connect to Joe Biden. It's 773 00:39:45,040 --> 00:39:48,680 Speaker 1: plain to see that James Biden and Hunter Biden, we're 774 00:39:48,719 --> 00:39:51,080 Speaker 1: not getting these gigs and having these millions of dollars 775 00:39:51,080 --> 00:39:54,680 Speaker 1: thrown at them because of their competence for expertise. It's 776 00:39:54,719 --> 00:39:58,040 Speaker 1: all because of their last name. And that is blatant corruption. 777 00:39:58,480 --> 00:40:01,960 Speaker 1: Do you know, did Joe Biden directly have anything to 778 00:40:01,960 --> 00:40:04,520 Speaker 1: do with that? We don't know. We don't know. But 779 00:40:04,600 --> 00:40:07,080 Speaker 1: as we talk about with corruption all the time, just 780 00:40:07,120 --> 00:40:12,040 Speaker 1: the appearance of this type of corruption is so incredibly damaging, 781 00:40:12,360 --> 00:40:14,640 Speaker 1: especially when look, he's the president of the United States. 782 00:40:14,640 --> 00:40:19,480 Speaker 1: Obviously a relationship with China is extraordinarily significant. Obviously, you know, 783 00:40:19,680 --> 00:40:23,880 Speaker 1: relationship with Ukraine now extraordinarily significant. So these are no 784 00:40:24,160 --> 00:40:26,479 Speaker 1: small things. As you said, is it the biggest story 785 00:40:26,480 --> 00:40:28,480 Speaker 1: in the world, No, but it actually is really pretty 786 00:40:28,560 --> 00:40:31,239 Speaker 1: damn significant. And here's the other part of it that 787 00:40:31,560 --> 00:40:33,920 Speaker 1: we have to point out, which is that, yeah, the 788 00:40:34,000 --> 00:40:37,719 Speaker 1: Washington Post has a few new details here, putting some like, 789 00:40:37,840 --> 00:40:40,440 Speaker 1: you know, meat on the bones of this story. Is 790 00:40:40,480 --> 00:40:45,279 Speaker 1: this a new story? No, No, it's not. I mean, 791 00:40:45,320 --> 00:40:48,440 Speaker 1: we knew the general outlines of what was going on 792 00:40:48,600 --> 00:40:52,440 Speaker 1: here for a long time, and they just couldn't be 793 00:40:52,600 --> 00:40:56,960 Speaker 1: bothered to actually dig in and do real reporting on 794 00:40:57,120 --> 00:41:00,000 Speaker 1: what was going on until now when their hand is 795 00:41:00,239 --> 00:41:03,200 Speaker 1: forced by the fact that he may be facing criminal 796 00:41:03,200 --> 00:41:08,600 Speaker 1: liability and actually, you know, facing potential indictment over these things, 797 00:41:08,600 --> 00:41:10,560 Speaker 1: so they can no longer sat on their hands. There 798 00:41:10,640 --> 00:41:12,520 Speaker 1: was a window in the past. Remember we talk of 799 00:41:12,560 --> 00:41:14,960 Speaker 1: some of the old stories from Politico and whatever that 800 00:41:15,120 --> 00:41:19,120 Speaker 1: talked about Biden family corruption twenty nineteen, So there was 801 00:41:19,160 --> 00:41:22,080 Speaker 1: a time when it was on the table. And then 802 00:41:22,120 --> 00:41:25,359 Speaker 1: you had this whole long stretch where suddenly, because it 803 00:41:25,400 --> 00:41:27,720 Speaker 1: was clear he was likely to be a Democratic dominee, 804 00:41:27,800 --> 00:41:31,000 Speaker 1: oh now you can't say anything. You had even his 805 00:41:31,160 --> 00:41:35,120 Speaker 1: primary rivals Bernie Sanders, Elizabeth Warren and others totally pulling 806 00:41:35,120 --> 00:41:38,240 Speaker 1: their punches on insinuating any sort of corruption. Well, remember 807 00:41:38,280 --> 00:41:42,400 Speaker 1: when Bertie like chastised and disciplined members of his campaign 808 00:41:42,400 --> 00:41:44,479 Speaker 1: team and his surrogates like zephyr Tic out who wanted 809 00:41:44,520 --> 00:41:46,920 Speaker 1: to go in the direction of talking about Biden corruption. 810 00:41:47,760 --> 00:41:51,439 Speaker 1: The media obviously, you know, was all ready to go 811 00:41:51,560 --> 00:41:53,960 Speaker 1: and sort of like smear you as unfair and right 812 00:41:54,000 --> 00:41:56,040 Speaker 1: wing and you love Trump if you brought any of 813 00:41:56,080 --> 00:41:58,640 Speaker 1: this stuff up. Then they go and completely hide it 814 00:41:58,719 --> 00:42:03,040 Speaker 1: in the general election, and it's disgraceful. So listen, none 815 00:42:03,080 --> 00:42:06,560 Speaker 1: of this is particularly new, but it is significant to 816 00:42:06,719 --> 00:42:10,040 Speaker 1: know that there were these big deals with significant players 817 00:42:10,040 --> 00:42:12,879 Speaker 1: around the world who clearly whatever they actually got, they 818 00:42:12,920 --> 00:42:16,680 Speaker 1: clearly thought they were getting access and influence. That's right. 819 00:42:16,680 --> 00:42:18,719 Speaker 1: I wish I could play for you guys that famous clip. 820 00:42:18,719 --> 00:42:20,880 Speaker 1: I've played it on Rising before. Last time I played it, 821 00:42:20,880 --> 00:42:25,000 Speaker 1: though podcasters listeners complained because it's all in Chinese, But 822 00:42:25,040 --> 00:42:27,600 Speaker 1: it's a Chinese professor basically being like, we know how 823 00:42:27,600 --> 00:42:29,759 Speaker 1: to work the America. Yeah, you hunter Biden, you know 824 00:42:29,800 --> 00:42:32,080 Speaker 1: what was going on there? He literally does this in 825 00:42:32,160 --> 00:42:34,839 Speaker 1: terms of joking about paying these people off. And just 826 00:42:34,920 --> 00:42:36,840 Speaker 1: look at how the post frames this. Let's put this 827 00:42:36,920 --> 00:42:39,200 Speaker 1: up there on the screen from the reporter Matt Viiser, 828 00:42:39,239 --> 00:42:41,799 Speaker 1: who actually covered Biden on the campaign trail. The audacity 829 00:42:42,040 --> 00:42:45,040 Speaker 1: thousands of emails purportedly from the laptop computer of Hunter 830 00:42:45,080 --> 00:42:49,400 Speaker 1: Biden are authentic. Oh, it can't be verified through cryptographic signatures. 831 00:42:49,840 --> 00:42:53,839 Speaker 1: Shut up cryptographic signatures. If it's fake, then they can 832 00:42:53,920 --> 00:42:56,480 Speaker 1: say so. And guess what. It's been two years and 833 00:42:56,520 --> 00:42:59,720 Speaker 1: they never said anything. Matt was literally on the campaign 834 00:42:59,760 --> 00:43:02,560 Speaker 1: trail with Biden. And if I sound angry, it is 835 00:43:02,600 --> 00:43:07,279 Speaker 1: because Crystal, you and I spent months talking and dissecting this. 836 00:43:07,520 --> 00:43:10,279 Speaker 1: Are we huge fans of Trump, No, but we understood 837 00:43:10,440 --> 00:43:13,720 Speaker 1: the utility of telling people the truth at the time. 838 00:43:14,360 --> 00:43:15,920 Speaker 1: Go ahead and put my tweet up there on the screen. 839 00:43:15,960 --> 00:43:19,360 Speaker 1: I was enraged about this yesterday. That Hunter Biden report 840 00:43:19,520 --> 00:43:22,920 Speaker 1: is two years late. The details of the Hunter connection 841 00:43:23,239 --> 00:43:28,160 Speaker 1: to China cf CEFC, they've been there since September of 842 00:43:28,200 --> 00:43:31,640 Speaker 1: twenty twenty. I went back and actually watched some of 843 00:43:31,680 --> 00:43:35,359 Speaker 1: our coverage from that exact date. I put my monologue there, 844 00:43:35,760 --> 00:43:38,680 Speaker 1: which is it was all out there for the entire 845 00:43:38,719 --> 00:43:42,120 Speaker 1: world to see. The Senate Intelligence report gave us all 846 00:43:42,160 --> 00:43:45,319 Speaker 1: of the details and actually media, if you're interested. He 847 00:43:45,400 --> 00:43:48,000 Speaker 1: also got a wire transfer for millions of dollars from 848 00:43:48,040 --> 00:43:51,240 Speaker 1: the richest woman in all of Russia. So I know Russia. 849 00:43:51,640 --> 00:43:54,759 Speaker 1: You know, skepticism is hot right now, That's a good 850 00:43:54,800 --> 00:43:57,279 Speaker 1: story for all of you. I've already talked about it. 851 00:43:57,400 --> 00:44:00,319 Speaker 1: I mean, the details of these bank transactions of the 852 00:44:00,320 --> 00:44:04,920 Speaker 1: CEFC of Rosemont Seneca Partners, which is old business of 853 00:44:04,960 --> 00:44:08,239 Speaker 1: his BFR holdings, I can go on forever. I mean, 854 00:44:08,360 --> 00:44:11,759 Speaker 1: it's amazing to me the way that these people conduct themselves. 855 00:44:11,800 --> 00:44:14,080 Speaker 1: They give him a complete pass. They even had the 856 00:44:14,120 --> 00:44:17,960 Speaker 1: gall to report. Hunter says that he's no longer involved 857 00:44:17,960 --> 00:44:21,080 Speaker 1: in his Chinese company. Oh but as I know, and 858 00:44:21,120 --> 00:44:23,800 Speaker 1: as anybody who can read a file of security stileings know, 859 00:44:24,120 --> 00:44:27,160 Speaker 1: he owns ten percent. So if you're no longer involved, 860 00:44:27,160 --> 00:44:29,360 Speaker 1: but you still own something, do you not still have 861 00:44:29,400 --> 00:44:34,279 Speaker 1: a direct financial stake in a Chinese private equity giant, which, 862 00:44:34,320 --> 00:44:37,360 Speaker 1: by the way, also finance some of the technology in 863 00:44:37,480 --> 00:44:42,799 Speaker 1: order to imprison Wigers in China? This gets no scrutiny. 864 00:44:42,920 --> 00:44:45,760 Speaker 1: We've gone through all of the details. If anybody wants, 865 00:44:45,880 --> 00:44:48,440 Speaker 1: they can go back two years ago. Watch all the 866 00:44:48,480 --> 00:44:51,120 Speaker 1: coverage that we did on Rising from the very beginning 867 00:44:51,239 --> 00:44:54,960 Speaker 1: twenty nineteen onward. All of the details of Hunters business 868 00:44:55,000 --> 00:44:58,880 Speaker 1: dealings have been out there, and it is personally infuriating 869 00:44:58,920 --> 00:45:02,720 Speaker 1: to me to watch these people rediscover this. Yeah, all 870 00:45:03,000 --> 00:45:05,160 Speaker 1: in real time. James Biden shouldn't get a pass here 871 00:45:05,200 --> 00:45:07,760 Speaker 1: together because and that's the other thing is this isn't 872 00:45:07,800 --> 00:45:11,760 Speaker 1: like a new pattern of behavior. From the beginning fifty 873 00:45:11,920 --> 00:45:16,879 Speaker 1: years ago, with you know, Biden's senatorial career, there were 874 00:45:16,920 --> 00:45:19,400 Speaker 1: these sorts of you know, trading on his name and 875 00:45:19,480 --> 00:45:23,080 Speaker 1: improper financial relationships swirling around him with his family. So 876 00:45:23,560 --> 00:45:25,879 Speaker 1: this is like next level kind of stuff when you're 877 00:45:25,920 --> 00:45:28,399 Speaker 1: dealing with the Chinese government and when you're dealing with 878 00:45:28,800 --> 00:45:30,920 Speaker 1: Ukraine and all of these things. But this type of 879 00:45:30,920 --> 00:45:33,759 Speaker 1: pattern of corruption has been there from the beginning. I 880 00:45:33,800 --> 00:45:35,799 Speaker 1: want to reach to you a little bit from that 881 00:45:35,920 --> 00:45:39,239 Speaker 1: Washington Post piece that's like, oh, now we've authenticated some 882 00:45:39,400 --> 00:45:42,960 Speaker 1: of the emails. How they frame it? Because remember even 883 00:45:42,960 --> 00:45:45,839 Speaker 1: though now we've got the New York Times and the 884 00:45:45,920 --> 00:45:49,719 Speaker 1: Washington Post admitting because the Biden Justice Department has validated 885 00:45:49,719 --> 00:45:52,759 Speaker 1: and they're using the contents of this laptop, they've now 886 00:45:52,760 --> 00:45:55,839 Speaker 1: admitted Okay, it's probably okay, it's authentic. But here's how 887 00:45:55,880 --> 00:45:57,880 Speaker 1: they frame it. And I think in an attempt to 888 00:45:57,920 --> 00:46:00,960 Speaker 1: get out of having to issue any sort of apology 889 00:46:01,360 --> 00:46:04,640 Speaker 1: for the past complete dismissal of the laptop. They say 890 00:46:05,280 --> 00:46:08,920 Speaker 1: many Republicans have portrayed this data as offering evidence of 891 00:46:09,000 --> 00:46:12,200 Speaker 1: misbehavior by Hunter Biden that implicated his father in scandal, 892 00:46:12,440 --> 00:46:16,800 Speaker 1: while Democrats have dismissed it as probable disinformation, perhaps pushed 893 00:46:16,800 --> 00:46:20,480 Speaker 1: by Russian operatives acting in a well documented effort to 894 00:46:20,600 --> 00:46:24,280 Speaker 1: undermine Biden. Then they go on the Washington Post forensic 895 00:46:24,400 --> 00:46:28,760 Speaker 1: findings are unlikely to resolve that debate, offering instead only 896 00:46:28,840 --> 00:46:31,480 Speaker 1: the limited revelation that some of the data on the 897 00:46:31,520 --> 00:46:34,759 Speaker 1: portable drive appears to be authentic. So even in this 898 00:46:34,840 --> 00:46:37,680 Speaker 1: piece where they're saying, yeah, guys, it's real, they're still 899 00:46:37,680 --> 00:46:40,040 Speaker 1: trying to say, well, we don't really know, you know. 900 00:46:40,320 --> 00:46:43,319 Speaker 1: They the Republicans say this, the Democrats say that we 901 00:46:43,400 --> 00:46:45,640 Speaker 1: can't really tell, so we'll just let you decide. Here's 902 00:46:45,640 --> 00:46:47,879 Speaker 1: what's better. I just found Washington Post from the day 903 00:46:47,920 --> 00:46:50,320 Speaker 1: that I did that monologue. Here's what they wrote. GOP's 904 00:46:50,400 --> 00:46:54,200 Speaker 1: Hunter Biden report doesn't back up Trump's actual conspiracy theory 905 00:46:54,280 --> 00:46:57,680 Speaker 1: or anything close to it, except your own paper just 906 00:46:57,840 --> 00:47:02,120 Speaker 1: validated that conspiracy theory. Look, I understand that when Trump 907 00:47:02,200 --> 00:47:05,279 Speaker 1: touches something, it's annoying for him to be to be 908 00:47:05,400 --> 00:47:07,920 Speaker 1: on the same side. But guess what, that's how the 909 00:47:07,920 --> 00:47:10,840 Speaker 1: truth works sometimes, especially when you're in the media. And 910 00:47:10,880 --> 00:47:14,200 Speaker 1: I'll never forget this moment from the presidential debate, when 911 00:47:14,239 --> 00:47:19,120 Speaker 1: Trump specifically pressed him on Hunter's dealings, Biden Biden and 912 00:47:19,160 --> 00:47:22,040 Speaker 1: Biden said that the report, which has now been validated, 913 00:47:22,280 --> 00:47:25,399 Speaker 1: has been quote totally discredited. We know for a fact now, 914 00:47:25,440 --> 00:47:28,520 Speaker 1: even by the MSM standards, that he lied during the debate. 915 00:47:28,680 --> 00:47:30,960 Speaker 1: Let's take a listen. And he didn't have a job 916 00:47:31,080 --> 00:47:34,240 Speaker 1: until you became vice president. Once you not a vice president. 917 00:47:34,440 --> 00:47:41,640 Speaker 1: He made a fortune in Ukraine, in China, and mused, 918 00:47:41,719 --> 00:47:44,200 Speaker 1: my son, and he didn't have a j son like 919 00:47:44,280 --> 00:47:46,040 Speaker 1: a lot of people, like a lot of people we 920 00:47:46,160 --> 00:47:49,840 Speaker 1: know at home, had a drug problem. He's overtaken it's 921 00:47:50,680 --> 00:47:53,120 Speaker 1: he's fixed it, he's worked on it, and I'm proud 922 00:47:53,160 --> 00:47:56,120 Speaker 1: of him. But why was all But he wasn't giving 923 00:47:57,800 --> 00:48:06,040 Speaker 1: totally totally Lord is credited. When totally discredited, it's not 924 00:48:06,160 --> 00:48:08,840 Speaker 1: totally discredited. I just read you the proof from the 925 00:48:08,960 --> 00:48:11,759 Speaker 1: Washington Post even and it was it was true the 926 00:48:11,920 --> 00:48:14,080 Speaker 1: day that he said it. And he lied to all 927 00:48:14,120 --> 00:48:16,560 Speaker 1: of our faces. Did Trump lie to us? Yeah? Did 928 00:48:16,600 --> 00:48:18,839 Speaker 1: he lie about his corruption with Saudi Arabia and with 929 00:48:18,920 --> 00:48:22,160 Speaker 1: foreign leaders staying in his hotel? Yeah? Is Jared corrupt 930 00:48:22,280 --> 00:48:25,319 Speaker 1: as Hunter? Yeah? Maybe more so, to be honest, that 931 00:48:25,320 --> 00:48:27,680 Speaker 1: doesn't end in a more much more influential position of 932 00:48:27,719 --> 00:48:30,240 Speaker 1: power too. Does that mean that it's okay when Hunter 933 00:48:30,320 --> 00:48:34,160 Speaker 1: does it? No, it doesn't. Corruption is bad. Cared about 934 00:48:34,160 --> 00:48:36,080 Speaker 1: it from the day I came to d C and 935 00:48:36,239 --> 00:48:38,480 Speaker 1: saw it all around us, in the way it shapes 936 00:48:38,680 --> 00:48:40,959 Speaker 1: the world that you have to live in at home. 937 00:48:41,040 --> 00:48:44,239 Speaker 1: So that's where my righteous indignation comes from. Just we 938 00:48:44,320 --> 00:48:48,040 Speaker 1: covered this and did our best treated sensitively at the time, 939 00:48:48,239 --> 00:48:50,200 Speaker 1: and we're like, look, that doesn't mean that gives Trump 940 00:48:50,239 --> 00:48:52,520 Speaker 1: a pass, but this is a real thing. I think that, 941 00:48:52,560 --> 00:48:55,400 Speaker 1: and nobody was honest about the most important part here 942 00:48:55,680 --> 00:49:00,719 Speaker 1: is that for all their resources and reporters around the 943 00:49:00,760 --> 00:49:05,760 Speaker 1: globe and you know the editorial like just how large 944 00:49:05,800 --> 00:49:09,080 Speaker 1: their operations are, the mainstream is just not that good 945 00:49:09,080 --> 00:49:13,000 Speaker 1: at their job because they're too ideologically blind to be 946 00:49:13,160 --> 00:49:16,319 Speaker 1: able to actually tell the truth in a way that 947 00:49:16,640 --> 00:49:21,560 Speaker 1: is honest and fair and timely. So I think that's 948 00:49:21,680 --> 00:49:24,240 Speaker 1: you know, maybe the most important thing to take away 949 00:49:24,239 --> 00:49:27,080 Speaker 1: from all of this is that they just aren't particularly 950 00:49:27,120 --> 00:49:30,520 Speaker 1: good at doing what they're supposed to be doing. And 951 00:49:30,560 --> 00:49:34,360 Speaker 1: that's not because they're not smart people or capable people, 952 00:49:34,560 --> 00:49:37,239 Speaker 1: or that they don't have the resources. It's because of 953 00:49:37,280 --> 00:49:41,840 Speaker 1: their ideological blindness that leads them to, you know, just 954 00:49:41,920 --> 00:49:44,799 Speaker 1: completely fail. And with on stories like this. You the 955 00:49:44,800 --> 00:49:46,560 Speaker 1: other thing that I was trying to remember, remember when 956 00:49:46,560 --> 00:49:49,880 Speaker 1: Elizabeth Warren so she her campaign in the primary, she 957 00:49:49,960 --> 00:49:52,239 Speaker 1: was making this big push on anti corruption and she 958 00:49:52,360 --> 00:49:55,200 Speaker 1: just launched this big like anti corruption thing, and then 959 00:49:55,200 --> 00:49:58,880 Speaker 1: she got yeah, big ad buy and she was like 960 00:49:58,960 --> 00:50:00,840 Speaker 1: this was her thing, and and she got pressed on 961 00:50:00,920 --> 00:50:03,719 Speaker 1: like Biden corruption and she had no idea what to 962 00:50:03,760 --> 00:50:07,280 Speaker 1: say because she was so she really had deluded herself 963 00:50:07,280 --> 00:50:09,319 Speaker 1: into thinking that, oh, even if I don't win, maybe 964 00:50:09,320 --> 00:50:12,000 Speaker 1: I can be vice president. And so, you know, she 965 00:50:12,760 --> 00:50:15,080 Speaker 1: had nothing to say about it. Bernie had nothing to 966 00:50:15,080 --> 00:50:17,799 Speaker 1: say about it. The media completely protected him, and it 967 00:50:17,840 --> 00:50:20,000 Speaker 1: did him no favors because if this had all been 968 00:50:20,040 --> 00:50:22,719 Speaker 1: hashed down during the election, then okay, it's not really 969 00:50:22,760 --> 00:50:25,280 Speaker 1: a story anymore. Like the voters got to have the information, 970 00:50:25,400 --> 00:50:27,120 Speaker 1: they got to make up their minds, and I'll tell 971 00:50:27,120 --> 00:50:28,719 Speaker 1: you in all likely that he's still president in the 972 00:50:28,840 --> 00:50:31,800 Speaker 1: United States. But because it wasn't dealt with at the time, 973 00:50:32,239 --> 00:50:35,480 Speaker 1: now this hangs over him, you know, this huge scandal 974 00:50:35,920 --> 00:50:39,239 Speaker 1: hangs over him like a cloud that is unresolved at 975 00:50:39,239 --> 00:50:42,480 Speaker 1: a time of you know, national peril, an incredible global crisis. 976 00:50:42,520 --> 00:50:45,880 Speaker 1: It's really just so completely infuriating. Oh, let's get to 977 00:50:45,880 --> 00:50:48,759 Speaker 1: the fun stuff. Yes, indeed, all right, you guys have 978 00:50:48,840 --> 00:50:51,399 Speaker 1: been waiting for us to talk about CNN Plus. We've 979 00:50:51,400 --> 00:50:54,080 Speaker 1: been waiting as well. All right, so let's start with 980 00:50:54,120 --> 00:50:56,160 Speaker 1: the most important part, which is the part that has 981 00:50:56,160 --> 00:51:00,719 Speaker 1: to do with us, which is that, Okay, we do 982 00:51:00,800 --> 00:51:02,799 Speaker 1: not have anything to do with the ads that are 983 00:51:02,800 --> 00:51:05,080 Speaker 1: placed on our podcast. It's very similar to how things 984 00:51:05,120 --> 00:51:07,359 Speaker 1: work on YouTube, where they just insert ads. We do 985 00:51:07,400 --> 00:51:10,319 Speaker 1: have some say over, like we've told them no Farma Fuele, 986 00:51:10,440 --> 00:51:12,960 Speaker 1: no pharma, no banks. That's right, So we do have 987 00:51:13,000 --> 00:51:15,799 Speaker 1: some say over saying like absolutely these people cannot. But 988 00:51:15,840 --> 00:51:19,000 Speaker 1: we did not include CNN Plus in that list of 989 00:51:19,120 --> 00:51:21,160 Speaker 1: no nos. Frankly, just I never thought it didn't really 990 00:51:21,239 --> 00:51:23,560 Speaker 1: occur to us. So according to you guys, let's put 991 00:51:23,600 --> 00:51:25,840 Speaker 1: this first element up on the screen. Some of you 992 00:51:25,920 --> 00:51:30,480 Speaker 1: are getting served CNN Plus at the beginning of breaking 993 00:51:30,560 --> 00:51:36,279 Speaker 1: voins on Spotify, which is hilarious because they are obviously 994 00:51:36,440 --> 00:51:39,839 Speaker 1: too stupid to know that our audience is going to 995 00:51:39,880 --> 00:51:43,279 Speaker 1: give them negative return and nothing but scorn for their 996 00:51:43,960 --> 00:51:47,719 Speaker 1: money spent on our podcast. Our audience exists because they suck, 997 00:51:48,400 --> 00:51:50,680 Speaker 1: and so, as I put it here, if they want 998 00:51:50,719 --> 00:51:53,919 Speaker 1: to help support the show in order to point out 999 00:51:53,920 --> 00:51:57,480 Speaker 1: how awful they are, be my guest, okay people, but 1000 00:51:57,880 --> 00:52:00,279 Speaker 1: it does show you that they are desperate. They are 1001 00:52:00,520 --> 00:52:04,640 Speaker 1: absolutely desperate in what is going on. That tiny little 1002 00:52:04,680 --> 00:52:08,200 Speaker 1: tidbit is of course absolutely hilarious, but in terms of 1003 00:52:08,239 --> 00:52:12,640 Speaker 1: the actual thing, the product has launched, So how's it going. 1004 00:52:12,840 --> 00:52:14,600 Speaker 1: Let's go ahead and put this next one up there 1005 00:52:14,640 --> 00:52:17,960 Speaker 1: on the screen. This is especially funny. Look at what 1006 00:52:18,000 --> 00:52:20,880 Speaker 1: they are doing, Crystal. They are doing the tried and true, 1007 00:52:20,920 --> 00:52:24,720 Speaker 1: trying to rejuice their initial sign up numbers to fake 1008 00:52:25,040 --> 00:52:27,760 Speaker 1: how many people they actually have. And as we're pointing 1009 00:52:27,760 --> 00:52:31,399 Speaker 1: out here, they are discounting the product to half its 1010 00:52:31,440 --> 00:52:35,560 Speaker 1: price to ninety nine a month in order to try 1011 00:52:35,800 --> 00:52:38,919 Speaker 1: and induce as many people as possible to sign up Safe. 1012 00:52:39,040 --> 00:52:42,000 Speaker 1: Fifty percent for Safe fifty percent for life. Question is 1013 00:52:42,040 --> 00:52:44,440 Speaker 1: how long the life of CNN plus is ultimately going 1014 00:52:44,480 --> 00:52:46,480 Speaker 1: to be exactly And that's a really good point. And 1015 00:52:46,600 --> 00:52:48,480 Speaker 1: here's the thing. I went ahead and I read in 1016 00:52:48,600 --> 00:52:52,920 Speaker 1: puck News last night that CNN plus's initial projection is 1017 00:52:52,960 --> 00:52:58,040 Speaker 1: they need two million people to become subscribers in the 1018 00:52:58,040 --> 00:53:01,919 Speaker 1: first year, five million over three years forget, and that 1019 00:53:02,080 --> 00:53:05,839 Speaker 1: is at these rock bottom fake prices. Here's the thing. 1020 00:53:05,880 --> 00:53:07,840 Speaker 1: If you have no confidence in your produc this is 1021 00:53:07,880 --> 00:53:11,359 Speaker 1: not retail. This is content. Content is flat in terms 1022 00:53:11,440 --> 00:53:13,480 Speaker 1: of discounts and all that. We don't have to have 1023 00:53:13,600 --> 00:53:15,719 Speaker 1: sell through business people know what I'm talking about. The 1024 00:53:15,760 --> 00:53:18,760 Speaker 1: way retail works is like you discount you know, off season, 1025 00:53:18,920 --> 00:53:22,360 Speaker 1: sell through rates, inventory. This that's not how this stuff works. 1026 00:53:22,520 --> 00:53:24,600 Speaker 1: The way it works here is if you have a 1027 00:53:24,640 --> 00:53:27,040 Speaker 1: product that you value, you sell it at a price 1028 00:53:27,080 --> 00:53:31,000 Speaker 1: that you think is fair. All of this discounting that's 1029 00:53:31,000 --> 00:53:33,440 Speaker 1: happening on their part, it shows you they have no 1030 00:53:33,920 --> 00:53:37,680 Speaker 1: they have no confidence in their actual product. They're throwing 1031 00:53:37,719 --> 00:53:40,560 Speaker 1: it away in order to rejuice their initial sign ups 1032 00:53:40,760 --> 00:53:43,600 Speaker 1: and then fake it to the advertising industry and sy see, 1033 00:53:43,719 --> 00:53:47,439 Speaker 1: we have X hundreds of thousands of people were signing up, Yeah, 1034 00:53:47,480 --> 00:53:50,640 Speaker 1: pink you two ninety nine a month. They had to 1035 00:53:50,800 --> 00:53:56,200 Speaker 1: hire hundreds of people. They've thrown so much money, probably 1036 00:53:57,239 --> 00:54:00,200 Speaker 1: maybe a million because if you think about oh, absolutely, 1037 00:54:00,280 --> 00:54:02,160 Speaker 1: because well, first of all, and I'm going to get 1038 00:54:02,200 --> 00:54:04,440 Speaker 1: to we did not actually watch their content, because there 1039 00:54:04,520 --> 00:54:06,160 Speaker 1: was no way in hell I giving them even three 1040 00:54:06,200 --> 00:54:08,480 Speaker 1: dollars of my money. But somebody did and they did 1041 00:54:08,480 --> 00:54:10,319 Speaker 1: a review. And we'll tell you about that in a minute. 1042 00:54:10,400 --> 00:54:12,920 Speaker 1: But from the pictures of it, like the sets are 1043 00:54:12,920 --> 00:54:16,120 Speaker 1: really elaborate. Yes, I can tell you that's very expensive. 1044 00:54:17,520 --> 00:54:21,120 Speaker 1: Even though the talent that they brought in shouldn't be expensive, 1045 00:54:21,520 --> 00:54:24,600 Speaker 1: it is. You know, Chris Wallace is a big get. 1046 00:54:24,920 --> 00:54:27,800 Speaker 1: They reportedly tried to get Rachel Maddow for like twenty 1047 00:54:27,840 --> 00:54:31,600 Speaker 1: million dollars. She ends up staying at MSNBC. Apparently they 1048 00:54:31,640 --> 00:54:34,640 Speaker 1: also tried to get Ari Melbourne, another primetime host over there, 1049 00:54:34,640 --> 00:54:36,600 Speaker 1: who would have to be paid, you know, millions of dollars. 1050 00:54:36,640 --> 00:54:39,200 Speaker 1: I'm sure to come over. He ultimately decided to stay 1051 00:54:39,200 --> 00:54:42,920 Speaker 1: where he was at MSNBC as well. You've got you know, 1052 00:54:43,040 --> 00:54:45,759 Speaker 1: Casey Hunt. Like some of these people that they acquired 1053 00:54:45,960 --> 00:54:48,920 Speaker 1: are not inexpensive. This is a lot of money to 1054 00:54:48,920 --> 00:54:52,040 Speaker 1: throw at talent, to throw at the technology, to throw 1055 00:54:52,120 --> 00:54:54,279 Speaker 1: at ads that are going to be completely worthless to 1056 00:54:54,280 --> 00:54:56,919 Speaker 1: you on our podcast, to throw at the set. They 1057 00:54:56,920 --> 00:55:00,319 Speaker 1: have made a huge investment in this thing, and then 1058 00:55:00,360 --> 00:55:03,560 Speaker 1: to on day one have to mark it down to 1059 00:55:03,680 --> 00:55:07,040 Speaker 1: half price to come anywhere close to what your projections are. 1060 00:55:07,080 --> 00:55:08,640 Speaker 1: And by the way, I still don't think they're gonna 1061 00:55:08,640 --> 00:55:10,840 Speaker 1: come anywhere close to what their projections are. And we 1062 00:55:11,160 --> 00:55:12,880 Speaker 1: have some reporting on that as well, because if you're 1063 00:55:12,880 --> 00:55:15,799 Speaker 1: saying they have to get to five million subscribers, that's 1064 00:55:15,840 --> 00:55:17,960 Speaker 1: like not that far shy of what the New York 1065 00:55:18,040 --> 00:55:21,640 Speaker 1: Times digital subscriptions is that they're at six point eight 1066 00:55:21,719 --> 00:55:24,120 Speaker 1: million based on what I just was looking up, So 1067 00:55:24,760 --> 00:55:27,839 Speaker 1: you know, you're trying and for all like New York 1068 00:55:27,840 --> 00:55:31,000 Speaker 1: Times fault, like obviously they have been intelligent about their 1069 00:55:31,160 --> 00:55:34,600 Speaker 1: digital offering for ten years. Yeah right, so this is 1070 00:55:34,680 --> 00:55:36,839 Speaker 1: put it that way. That's insane. So people are going 1071 00:55:36,920 --> 00:55:39,000 Speaker 1: to pay five million. People are going to pay for 1072 00:55:39,120 --> 00:55:41,000 Speaker 1: like an extra hour of wolf Splitz are doing the 1073 00:55:41,000 --> 00:55:42,960 Speaker 1: same shit that he does for free on your like 1074 00:55:43,040 --> 00:55:45,600 Speaker 1: on regular CNN. I can believe it. People are going 1075 00:55:45,680 --> 00:55:49,400 Speaker 1: to pay for Anderson Cooper's parenting tips or Jake Tapper's 1076 00:55:49,400 --> 00:55:52,520 Speaker 1: bookshel like, come on, I mean, this is the most 1077 00:55:52,520 --> 00:55:55,960 Speaker 1: insane business attempt that I have ever seen. Here's another 1078 00:55:56,080 --> 00:55:59,799 Speaker 1: just like silliness of this. They're apparently selling the first 1079 00:56:00,040 --> 00:56:04,000 Speaker 1: moment as an NFT, which also okay, so first just 1080 00:56:04,080 --> 00:56:06,840 Speaker 1: like cringe hilarious. They're going to sell the first twenty 1081 00:56:06,920 --> 00:56:10,360 Speaker 1: nine seconds of five Things with Kate Baldwin will be 1082 00:56:10,400 --> 00:56:13,160 Speaker 1: sold at fifty dollars eat. So guys, if you're interested, 1083 00:56:13,239 --> 00:56:15,320 Speaker 1: you better hop too. I'm sure those things are flying 1084 00:56:15,400 --> 00:56:17,960 Speaker 1: right off the shelf. But you know, the way that 1085 00:56:18,000 --> 00:56:20,920 Speaker 1: they talk about this internally is like this is the 1086 00:56:20,920 --> 00:56:24,920 Speaker 1: most historic moment since Ted Turner's launch of the network. 1087 00:56:25,160 --> 00:56:28,000 Speaker 1: That's how much they have invested in it, and it's 1088 00:56:28,400 --> 00:56:30,520 Speaker 1: just clearly a disaster. Look, it gives me a lot 1089 00:56:30,560 --> 00:56:32,319 Speaker 1: of confidence in what we're doing here and building out 1090 00:56:32,320 --> 00:56:35,200 Speaker 1: something new. We've built the audience now over several years, 1091 00:56:35,239 --> 00:56:37,600 Speaker 1: building it out and adding some of the component parts 1092 00:56:37,640 --> 00:56:40,759 Speaker 1: without doing the complete boondoggle of what they're doing over 1093 00:56:40,760 --> 00:56:43,200 Speaker 1: at CNN, and look, I have some bone to pick. 1094 00:56:43,280 --> 00:56:47,759 Speaker 1: Two also with the content, I mean Anderson Cooper Parenting show. 1095 00:56:47,800 --> 00:56:51,280 Speaker 1: I actually looked into it. So Anderson's show is parenting 1096 00:56:51,320 --> 00:56:55,040 Speaker 1: advice as a working dad, and I just look, I 1097 00:56:55,120 --> 00:56:57,960 Speaker 1: have no disrespect for Anderson in terms of what he 1098 00:56:58,000 --> 00:57:00,520 Speaker 1: actually does when he goes to tok Rear Square in 1099 00:57:00,560 --> 00:57:04,520 Speaker 1: the middle of the Kyrie protest. Okay, actually good at 1100 00:57:04,520 --> 00:57:08,080 Speaker 1: with his job. But the idea that the heir to 1101 00:57:08,120 --> 00:57:11,600 Speaker 1: the Vanderbilt fortune who is a single dad has anything 1102 00:57:11,640 --> 00:57:14,560 Speaker 1: in common with the real single dad who is working 1103 00:57:14,600 --> 00:57:17,920 Speaker 1: several jobs or single mom, that's ludicrous. I'm sorry, Like, 1104 00:57:18,080 --> 00:57:20,520 Speaker 1: what's your problem, But then nanny didn't show up on time, 1105 00:57:20,920 --> 00:57:23,440 Speaker 1: or that you had, you know, your your shift schedule 1106 00:57:23,480 --> 00:57:26,240 Speaker 1: went off, and that your caregivers, you know, got their 1107 00:57:26,280 --> 00:57:29,400 Speaker 1: schedules mixed up. I'm not diminishing that it's probably not 1108 00:57:29,520 --> 00:57:32,600 Speaker 1: still hard to be a single dad when you're a multimillionaire. 1109 00:57:33,440 --> 00:57:36,160 Speaker 1: You're literally the heir to the Vanderbilt force. I'm sorry. 1110 00:57:36,160 --> 00:57:38,440 Speaker 1: That reminds me of when Cheryl Sandberg was trying to 1111 00:57:38,480 --> 00:57:40,960 Speaker 1: get parenting and remember and she'd like built down a 1112 00:57:40,960 --> 00:57:43,880 Speaker 1: whole nursery next to her her like folks office, I'll 1113 00:57:43,880 --> 00:57:45,800 Speaker 1: just do that, whether her nanny would be there full 1114 00:57:45,800 --> 00:57:48,200 Speaker 1: time with her kid, and we're like, oh yeah, everyone 1115 00:57:48,240 --> 00:57:51,040 Speaker 1: can just accomplish that. That's going to make it super workable. 1116 00:57:51,120 --> 00:57:53,240 Speaker 1: So I didn't know that that was the framing of 1117 00:57:53,240 --> 00:57:55,720 Speaker 1: the thing. That's what bothers me that, you know, there 1118 00:57:55,720 --> 00:57:58,200 Speaker 1: are actual single parents out there. I've met some of 1119 00:57:58,240 --> 00:58:02,000 Speaker 1: them who really suffer. They have really a big problem, 1120 00:58:02,240 --> 00:58:05,960 Speaker 1: and they're not rich, they don't they can't relate in 1121 00:58:06,040 --> 00:58:09,280 Speaker 1: any way to your experience of being a multi millionaire 1122 00:58:09,320 --> 00:58:11,760 Speaker 1: television host of living in New York City, and you 1123 00:58:11,840 --> 00:58:14,440 Speaker 1: kind of have the audacity to try and sell that 1124 00:58:14,480 --> 00:58:18,000 Speaker 1: to people. I think that's completely ridiculous and insane. Same 1125 00:58:18,120 --> 00:58:20,640 Speaker 1: whenever it comes to all of the other offerings that 1126 00:58:20,680 --> 00:58:23,640 Speaker 1: they have Jake Tapper's book Club with Dolly Parton, Wow, 1127 00:58:23,640 --> 00:58:26,000 Speaker 1: I've never seen an interview with Dolly before. Well, I 1128 00:58:26,520 --> 00:58:28,400 Speaker 1: can't say anything about that because I would love to 1129 00:58:28,400 --> 00:58:30,760 Speaker 1: have an interview with Dolly Partons. Yeah. Sure, but she's 1130 00:58:30,800 --> 00:58:32,880 Speaker 1: been interviewed a million times for free. You can go 1131 00:58:32,920 --> 00:58:35,200 Speaker 1: listen to her on any podcast. I think. Also, it's 1132 00:58:35,240 --> 00:58:38,440 Speaker 1: just like, remember some of the reporting after Zucker was 1133 00:58:38,480 --> 00:58:41,320 Speaker 1: out was about how internally there were a lot of 1134 00:58:41,400 --> 00:58:44,040 Speaker 1: questions about CNN Plus because this had kind of been 1135 00:58:44,080 --> 00:58:46,360 Speaker 1: Zucker's baby that's right, and even some of their staff 1136 00:58:46,360 --> 00:58:49,200 Speaker 1: were like, I mean, Jake Tapper is fine, but like, 1137 00:58:49,280 --> 00:58:52,800 Speaker 1: are people really so enthusiastic about Jake Tapper that they're 1138 00:58:52,800 --> 00:58:54,360 Speaker 1: going to sign up for his book club. All of 1139 00:58:54,400 --> 00:58:56,480 Speaker 1: this is a way of saying like they have no 1140 00:58:56,800 --> 00:58:58,720 Speaker 1: idea what they're doing in this space, and I think 1141 00:58:58,760 --> 00:59:02,760 Speaker 1: it's very revealing because is number one, they clearly know 1142 00:59:03,240 --> 00:59:07,200 Speaker 1: that their traditional business model is under threat. Is it's 1143 00:59:07,200 --> 00:59:10,520 Speaker 1: still wildly profitable, Yes, but they also can see the 1144 00:59:10,520 --> 00:59:15,120 Speaker 1: writing on the wall. Their demographic is super old. They're 1145 00:59:15,200 --> 00:59:18,480 Speaker 1: under threat from you know, the whole array of content, 1146 00:59:18,600 --> 00:59:22,080 Speaker 1: not just a news content like ours, but other options 1147 00:59:22,120 --> 00:59:25,440 Speaker 1: that are out there. Younger generations are not signing up 1148 00:59:25,440 --> 00:59:28,920 Speaker 1: for traditional cable packages. So they know they have to 1149 00:59:28,960 --> 00:59:33,240 Speaker 1: do something, but they have no idea what that might 1150 00:59:33,320 --> 00:59:36,880 Speaker 1: actually look like. To provide some sort of valuable content 1151 00:59:36,960 --> 00:59:40,280 Speaker 1: that people would believe in that's really the thing and 1152 00:59:40,400 --> 00:59:42,080 Speaker 1: be willing to sign up for. I mean, that's what 1153 00:59:42,120 --> 00:59:45,440 Speaker 1: we find with our subscribers is, you know, as much 1154 00:59:45,480 --> 00:59:47,440 Speaker 1: as we try to give them, you know, access to 1155 00:59:47,480 --> 00:59:50,640 Speaker 1: things early and special interviews in ama that we do 1156 00:59:50,680 --> 00:59:52,240 Speaker 1: and all of that, what they're really here for is 1157 00:59:52,240 --> 00:59:54,520 Speaker 1: because they believe in the mission, they believe in the projects, 1158 00:59:54,520 --> 00:59:57,520 Speaker 1: they believe in what we're trying to build. Who believes 1159 00:59:57,560 --> 01:00:00,560 Speaker 1: in what CNN Plus is trying to build? Also, what 1160 01:00:00,760 --> 01:00:03,840 Speaker 1: are you even trying to build? Because that's the other 1161 01:00:03,880 --> 01:00:08,560 Speaker 1: part of it is the content is incredibly scattershot. It 1162 01:00:08,600 --> 01:00:12,400 Speaker 1: doesn't provide really any sort of value add to what 1163 01:00:12,520 --> 01:00:17,120 Speaker 1: is already on the channel. So who is your target audience? Here? 1164 01:00:17,960 --> 01:00:20,880 Speaker 1: We've got the we've got the USA Today review. Go 1165 01:00:20,880 --> 01:00:24,680 Speaker 1: ahead and put the USA Today screenshot up up there, 1166 01:00:24,720 --> 01:00:27,760 Speaker 1: So they say, watching CNN Plus's first day, So what 1167 01:00:27,800 --> 01:00:32,360 Speaker 1: are we doing here? Hint talking about Will Smith, this person, 1168 01:00:32,640 --> 01:00:36,880 Speaker 1: brave individual. When ahead and watched the first four hours 1169 01:00:37,040 --> 01:00:40,720 Speaker 1: of CNN Plus, they say, so what are we doing here? 1170 01:00:40,760 --> 01:00:43,680 Speaker 1: Brian Stelzer asset the outset of his show Reliable Sources 1171 01:00:43,760 --> 01:00:46,600 Speaker 1: Daily in case there wasn't enough Reliable Sources, which gets 1172 01:00:46,720 --> 01:00:49,360 Speaker 1: very poor ratings even on his normal CNN channel, they 1173 01:00:49,400 --> 01:00:51,760 Speaker 1: decided to give him a daily show on CNN Plus. 1174 01:00:51,800 --> 01:00:54,520 Speaker 1: Tuesday morning, I was asking myself the same thing at 1175 01:00:54,520 --> 01:00:56,960 Speaker 1: four am Pacific when I tuned into the kickoff of 1176 01:00:57,000 --> 01:01:00,360 Speaker 1: the new streaming platform. After watching the first four live 1177 01:01:00,400 --> 01:01:03,760 Speaker 1: shows on the platform. The answer to Stelter's question was clear. 1178 01:01:03,960 --> 01:01:07,160 Speaker 1: They were talking about Will Smith before the launch. The 1179 01:01:07,160 --> 01:01:09,560 Speaker 1: biggest question about CNN Plus was why it was needed 1180 01:01:09,560 --> 01:01:12,680 Speaker 1: when the CNN network can be viewed on TV and online. 1181 01:01:12,800 --> 01:01:14,960 Speaker 1: After watching the first four shows airing on the platform 1182 01:01:14,960 --> 01:01:17,600 Speaker 1: Tuesday morning, that question change replaced by a new one. 1183 01:01:17,960 --> 01:01:20,160 Speaker 1: What would they have talked about if Will Smith hadn't 1184 01:01:20,160 --> 01:01:22,920 Speaker 1: slapped Chris Rock at the oscars? I think it's a 1185 01:01:22,960 --> 01:01:26,680 Speaker 1: perfect encapsulation because it's exactly the type of story that 1186 01:01:26,720 --> 01:01:29,960 Speaker 1: people who know nothing about alternative media would think, like, oh, 1187 01:01:30,080 --> 01:01:32,720 Speaker 1: this is the hot thing that we should really lean into. 1188 01:01:32,760 --> 01:01:35,600 Speaker 1: That people just want endless takes on, and so they're 1189 01:01:35,640 --> 01:01:38,600 Speaker 1: just chasing whatever they think is going to get clicks 1190 01:01:38,600 --> 01:01:41,640 Speaker 1: and views, rather than actually having any sort of like 1191 01:01:42,320 --> 01:01:47,680 Speaker 1: identity or meati value generating offering, like did you really 1192 01:01:47,760 --> 01:01:50,240 Speaker 1: need more Will Smith takes? Was that something that you 1193 01:01:50,280 --> 01:01:52,680 Speaker 1: were really dying for out there? Was that a need 1194 01:01:52,720 --> 01:01:54,680 Speaker 1: that was unmet? No? Of course not, No, it wasn't. 1195 01:01:54,680 --> 01:01:56,280 Speaker 1: And I think that this is the point, which is 1196 01:01:56,280 --> 01:02:00,000 Speaker 1: that whenever we'd spend years building this up and understand 1197 01:02:00,040 --> 01:02:03,360 Speaker 1: standing what exactly both people want and also inventing different ways. 1198 01:02:03,400 --> 01:02:05,880 Speaker 1: I mean, some of our union coverage was not popular 1199 01:02:05,920 --> 01:02:08,120 Speaker 1: in the beginning. Action is pretty unpopular. Just did it 1200 01:02:08,160 --> 01:02:10,280 Speaker 1: anyway because we believed that it was important. You have 1201 01:02:10,360 --> 01:02:13,520 Speaker 1: to build a constituency around things sometimes, especially if you 1202 01:02:13,560 --> 01:02:15,560 Speaker 1: believe yeah, and you have to stand for something. You know, 1203 01:02:15,720 --> 01:02:18,080 Speaker 1: and you know, I see, I can see within this 1204 01:02:18,280 --> 01:02:21,800 Speaker 1: that it is just a multimillion dollar boondoggle. And really, 1205 01:02:21,920 --> 01:02:24,040 Speaker 1: if they really had courage, here's what they would do. 1206 01:02:24,280 --> 01:02:27,040 Speaker 1: They would say, we're not doing any more deals with 1207 01:02:27,200 --> 01:02:30,680 Speaker 1: cable as in, no more Comcast NBC. We're going to 1208 01:02:30,720 --> 01:02:34,320 Speaker 1: put all live TV on the internet and let's see 1209 01:02:34,320 --> 01:02:36,760 Speaker 1: how it works out. That would be a gutsy move. 1210 01:02:37,000 --> 01:02:39,760 Speaker 1: But guess what this is the innovator's dilemma. They can't 1211 01:02:39,760 --> 01:02:42,360 Speaker 1: do that. They make billions of dollars invested in the 1212 01:02:42,360 --> 01:02:44,680 Speaker 1: current way, too much invested in the current. It's like 1213 01:02:44,760 --> 01:02:48,880 Speaker 1: Kodak inventing the digital camera. In the nineteen eighties. Technology 1214 01:02:48,960 --> 01:02:51,160 Speaker 1: was there, everybody knew what was the future. But you 1215 01:02:51,280 --> 01:02:53,040 Speaker 1: make a whole lot of money on film, and the 1216 01:02:53,080 --> 01:02:56,960 Speaker 1: shareholders demand profit, and the parent company wants this. They 1217 01:02:57,000 --> 01:03:01,080 Speaker 1: have the inability to disrupt themselves. Only great businesses can 1218 01:03:01,120 --> 01:03:04,920 Speaker 1: actually do that otherwise people like yours truly up here 1219 01:03:05,040 --> 01:03:07,040 Speaker 1: are the ones who are going to come and eventually 1220 01:03:07,080 --> 01:03:09,120 Speaker 1: eat your lunch. But I do want to put out 1221 01:03:09,160 --> 01:03:11,400 Speaker 1: a word of caution and for us not to be 1222 01:03:11,440 --> 01:03:13,840 Speaker 1: too triumphal as here as they fall on their face 1223 01:03:13,960 --> 01:03:20,160 Speaker 1: because they can't compete with actual alternative media and you know, 1224 01:03:20,240 --> 01:03:23,320 Speaker 1: the offerings that are really quality there, and there are many, 1225 01:03:23,440 --> 01:03:28,560 Speaker 1: i think, quality podcasts, quality YouTube creators who provide really 1226 01:03:28,560 --> 01:03:31,000 Speaker 1: in depth analysis. I know I've been relying a lot 1227 01:03:31,040 --> 01:03:34,480 Speaker 1: on you know, that sort of analysis during the Ukraine crisis, 1228 01:03:34,480 --> 01:03:36,840 Speaker 1: going back to the history and the military strategy and 1229 01:03:36,880 --> 01:03:40,160 Speaker 1: trying to understand what's going on. They can't compete with that, 1230 01:03:40,640 --> 01:03:42,720 Speaker 1: so what are they going to do. They're not going 1231 01:03:42,800 --> 01:03:45,640 Speaker 1: to just say, well, we just can't do it. No, 1232 01:03:45,720 --> 01:03:47,600 Speaker 1: they're going to try to rig the market. They're going 1233 01:03:47,680 --> 01:03:50,200 Speaker 1: to try to destroy the things that are out there 1234 01:03:50,240 --> 01:03:53,080 Speaker 1: that are good so that people have no other choice. 1235 01:03:53,200 --> 01:03:55,360 Speaker 1: And they'll also listen, we'll never know what their real 1236 01:03:55,440 --> 01:03:57,960 Speaker 1: numbers are because they'll you know, bundle it with HBO 1237 01:03:58,120 --> 01:04:01,040 Speaker 1: or Discovery and so you'll never actually know what a 1238 01:04:01,080 --> 01:04:03,800 Speaker 1: failure it ultimately is. But the fact that they're trying 1239 01:04:03,840 --> 01:04:07,080 Speaker 1: to play anywhere in our space, like anywhere close to 1240 01:04:07,160 --> 01:04:10,479 Speaker 1: our space is a direct threat because again, they don't 1241 01:04:10,520 --> 01:04:13,000 Speaker 1: care about actually playing fair and like, let's just compete 1242 01:04:13,040 --> 01:04:15,720 Speaker 1: in the marketplace of ideas and provide good content. No, 1243 01:04:15,840 --> 01:04:18,560 Speaker 1: they'll win at all costs if that requires, you know, 1244 01:04:19,280 --> 01:04:23,040 Speaker 1: smearing all of sub stack as racists or whatever they're 1245 01:04:23,040 --> 01:04:27,000 Speaker 1: going to you know, unfettered conversations, or smearing all podcasts, 1246 01:04:27,120 --> 01:04:29,760 Speaker 1: or smearing all YouTube creators. They will do that. And 1247 01:04:29,800 --> 01:04:33,760 Speaker 1: we've already seen those tactics be employed. So that's my 1248 01:04:33,880 --> 01:04:36,240 Speaker 1: sort of cautionary note here is even though they suck, 1249 01:04:36,320 --> 01:04:38,480 Speaker 1: that doesn't mean that it's not going to be really damaging. 1250 01:04:38,600 --> 01:04:41,520 Speaker 1: Oh we shouldn't be We should not be too rosy 1251 01:04:41,560 --> 01:04:43,680 Speaker 1: about it at all. Look, it's fun. I'm gonna be honest, 1252 01:04:43,800 --> 01:04:46,080 Speaker 1: especially this part. Let's put this up there on the screen. 1253 01:04:46,640 --> 01:04:50,960 Speaker 1: CNN already bracing for layoffs. This is from Charles Gasparino. 1254 01:04:51,040 --> 01:04:53,480 Speaker 1: CNN plus employees bracing for layoffs as soon as May 1255 01:04:53,480 --> 01:04:56,320 Speaker 1: emit projections of lackluster sales of the new streaming channel. 1256 01:04:56,520 --> 01:04:58,680 Speaker 1: Seeing an employee say a new streaming channel could be 1257 01:04:58,720 --> 01:05:02,040 Speaker 1: merged into a larger Discovery Plus as early as May 1258 01:05:02,200 --> 01:05:06,920 Speaker 1: unless subscriptions pick up from Fox Business. CNN responded and 1259 01:05:06,960 --> 01:05:09,720 Speaker 1: said that that's not true, that they're very happy with 1260 01:05:09,800 --> 01:05:13,400 Speaker 1: their launch. We'll see what the truth is. All reporting 1261 01:05:13,440 --> 01:05:16,280 Speaker 1: from inside the house indicates that the new parent company 1262 01:05:16,480 --> 01:05:19,080 Speaker 1: does not like CNN Plus, that they are already scaling 1263 01:05:19,120 --> 01:05:23,040 Speaker 1: back it's vision, and that Zucker specifically was the godfather 1264 01:05:23,160 --> 01:05:25,320 Speaker 1: of this thing, and that with him gone, that it 1265 01:05:25,400 --> 01:05:28,720 Speaker 1: is probably a goner and it'll eventually get folded into 1266 01:05:28,760 --> 01:05:31,440 Speaker 1: the broader thing. It's funny, you know, on their marketing, 1267 01:05:32,160 --> 01:05:33,640 Speaker 1: they're marketing the hell out of the fact that you 1268 01:05:33,720 --> 01:05:36,840 Speaker 1: can watch Anthony Bourdain show. Yeah, you can already watch 1269 01:05:36,920 --> 01:05:40,720 Speaker 1: Parts Unknown on HBO Max. You don't need CNN Plus 1270 01:05:40,760 --> 01:05:43,240 Speaker 1: to watch it. So the only thing that they have. 1271 01:05:43,320 --> 01:05:45,280 Speaker 1: And by the way, he's dead, I mean of rest 1272 01:05:45,280 --> 01:05:47,840 Speaker 1: in peace. But like it's kind of gross. And this 1273 01:05:47,920 --> 01:05:50,160 Speaker 1: was written in the Puck Review as well. To use 1274 01:05:50,200 --> 01:05:53,160 Speaker 1: a dead man's image in order to sell subscriptions. I 1275 01:05:53,200 --> 01:05:57,000 Speaker 1: think it's kind of you know, seedy shows the pathetic 1276 01:05:57,040 --> 01:05:59,320 Speaker 1: nature of their offering that that's the best they have 1277 01:05:59,480 --> 01:06:03,080 Speaker 1: to offer, something that is from the past and not 1278 01:06:03,320 --> 01:06:06,720 Speaker 1: you know, what their new offerings are. Ultimately for the future. 1279 01:06:07,280 --> 01:06:08,960 Speaker 1: I do want to throw in there with regard to, 1280 01:06:09,040 --> 01:06:12,120 Speaker 1: you know, the Fox reporter who is reporting this information 1281 01:06:12,320 --> 01:06:14,840 Speaker 1: which may or may not be true, but I'm gonna 1282 01:06:14,840 --> 01:06:16,760 Speaker 1: go ahead and believe that it is true because I 1283 01:06:16,800 --> 01:06:18,920 Speaker 1: do think that their launch was a dismal failure. Based 1284 01:06:18,960 --> 01:06:22,040 Speaker 1: on all available sides. Fox's streaming effort has also been 1285 01:06:22,120 --> 01:06:24,760 Speaker 1: a completely dismal failure that they have also spent a 1286 01:06:24,800 --> 01:06:27,160 Speaker 1: lot of money on in terms of acquiring talent. All 1287 01:06:27,160 --> 01:06:31,200 Speaker 1: of them have also the MSMBFC one has also been 1288 01:06:31,360 --> 01:06:33,520 Speaker 1: they just have fallen on their face because they all 1289 01:06:33,560 --> 01:06:36,600 Speaker 1: are subject to that same issue that you're talking about, 1290 01:06:36,720 --> 01:06:39,960 Speaker 1: is they just don't understand this world at all. Their 1291 01:06:40,400 --> 01:06:43,520 Speaker 1: traditional model is what earns them the bucks and makes 1292 01:06:43,520 --> 01:06:46,560 Speaker 1: them the money, and it's very standard, sort of like 1293 01:06:46,880 --> 01:06:51,640 Speaker 1: there's this standard concept in businesses that it's very hard 1294 01:06:51,640 --> 01:06:54,640 Speaker 1: if you're the legacy business to be also the innovator, 1295 01:06:54,760 --> 01:06:57,080 Speaker 1: and so they're not really able to pull it off. 1296 01:06:57,120 --> 01:06:58,600 Speaker 1: None of them have been able to pull it off, 1297 01:06:58,600 --> 01:07:00,600 Speaker 1: and it doesn't look like CNN is going to do 1298 01:07:00,680 --> 01:07:04,240 Speaker 1: anything better. That's right, all right, guys, let's bring you 1299 01:07:04,320 --> 01:07:07,840 Speaker 1: up to date on mister Madison. Cawthorn. So he has 1300 01:07:07,880 --> 01:07:12,120 Speaker 1: gotten himself into some very significant hot water with Republican 1301 01:07:12,320 --> 01:07:16,800 Speaker 1: Party leadership over some rather casual comments he made on 1302 01:07:17,000 --> 01:07:22,200 Speaker 1: a podcast claiming that some members of his own caucus 1303 01:07:22,480 --> 01:07:25,480 Speaker 1: that he has seen them, He's been invited to orgies 1304 01:07:25,560 --> 01:07:28,400 Speaker 1: and he's seen them doing cocaine. Let's take a listen 1305 01:07:28,560 --> 01:07:33,720 Speaker 1: to the comments from Congressman Cawthorn. How much, in your opinion, 1306 01:07:33,800 --> 01:07:40,320 Speaker 1: because you've been behind the veil, is this fictitious show 1307 01:07:41,040 --> 01:07:44,040 Speaker 1: or is this more closer to like a documentary? Is 1308 01:07:44,080 --> 01:07:47,640 Speaker 1: it that that? So? I heard a former president that 1309 01:07:47,680 --> 01:07:49,960 Speaker 1: we had in the nineties was asked the question about this, 1310 01:07:51,040 --> 01:07:53,200 Speaker 1: and he gave an answer that I thought was so true, 1311 01:07:53,240 --> 01:07:55,880 Speaker 1: and he said, the only thing that's not accurate in 1312 01:07:56,000 --> 01:07:58,040 Speaker 1: that show is that you could never get a piece 1313 01:07:58,080 --> 01:08:02,800 Speaker 1: of legislation about education passed that quickly. And everything else 1314 01:08:02,920 --> 01:08:06,040 Speaker 1: is good. Aside from that, I mean the sexual perversion 1315 01:08:06,040 --> 01:08:08,120 Speaker 1: that goes on Washington. I mean being kind of a 1316 01:08:08,160 --> 01:08:10,240 Speaker 1: young guy in Washington with the average age is probably 1317 01:08:10,240 --> 01:08:13,280 Speaker 1: sixty or seventy, and I look at all these people, 1318 01:08:13,320 --> 01:08:14,520 Speaker 1: a lot of them that I you know, I've looked 1319 01:08:14,560 --> 01:08:16,720 Speaker 1: up too through my life. I always paid attention to politics. 1320 01:08:16,760 --> 01:08:18,600 Speaker 1: Guys that you know, then all of a sudden you 1321 01:08:18,600 --> 01:08:20,720 Speaker 1: get invited to like, hey, we're gonna have kind of 1322 01:08:21,240 --> 01:08:23,280 Speaker 1: a sexual get together at one of our homes. You 1323 01:08:23,320 --> 01:08:26,360 Speaker 1: should come. They're like, what did you just ask me 1324 01:08:26,479 --> 01:08:28,400 Speaker 1: to come to? And then you realize they're asking you 1325 01:08:28,439 --> 01:08:30,800 Speaker 1: to come to an orgy or the fact that you know, 1326 01:08:30,800 --> 01:08:32,720 Speaker 1: there's some of the people that are leading on the 1327 01:08:32,760 --> 01:08:36,000 Speaker 1: movement to try and remove you know, addiction in our country, 1328 01:08:36,040 --> 01:08:37,479 Speaker 1: and then you watch them doing you know, keep them 1329 01:08:37,479 --> 01:08:39,360 Speaker 1: a cocaine right in front of you, and it's like, 1330 01:08:39,680 --> 01:08:43,800 Speaker 1: this is this is wild a sexual get together. I 1331 01:08:43,880 --> 01:08:45,840 Speaker 1: like the way that he frames that too. Okay, so 1332 01:08:46,160 --> 01:08:49,320 Speaker 1: those are the allegations. Yeah, so he said it, and 1333 01:08:49,479 --> 01:08:52,720 Speaker 1: let's just say his colleagues freaked out. Yeah, let's go 1334 01:08:52,720 --> 01:08:54,519 Speaker 1: ahead and put this up there on the screen. So 1335 01:08:55,040 --> 01:08:58,800 Speaker 1: apparently what happened is that inside of a GOP caucus meeting, 1336 01:08:59,040 --> 01:09:03,040 Speaker 1: a congressman up and said, hey, I'm getting calls about 1337 01:09:03,080 --> 01:09:05,920 Speaker 1: people asking me if this is true about what Madison. 1338 01:09:05,920 --> 01:09:09,719 Speaker 1: Cawthorne says. So, Kevin McCarthy, the GOP leader, called Madison 1339 01:09:09,760 --> 01:09:12,400 Speaker 1: into his office. Here's what he claims. He claims that 1340 01:09:12,439 --> 01:09:15,799 Speaker 1: Madison Cawthorne admitted in a tense meeting that his claims 1341 01:09:15,800 --> 01:09:18,720 Speaker 1: about house GOP colleagues have done coke and invited him 1342 01:09:18,760 --> 01:09:22,640 Speaker 1: to orgies were quote exaggerated, and he said that specifically 1343 01:09:22,880 --> 01:09:25,000 Speaker 1: to Axios. Now let's put this next one up there. 1344 01:09:25,000 --> 01:09:26,880 Speaker 1: Hold on on that Poe, sorry, sorry on that piece. 1345 01:09:27,120 --> 01:09:30,280 Speaker 1: Just to be specific here, this is from that Axios report, 1346 01:09:30,320 --> 01:09:33,160 Speaker 1: he says. In the interview, he claims he watched people 1347 01:09:33,200 --> 01:09:35,720 Speaker 1: do cocaine. Then when he comes in he tells me 1348 01:09:35,840 --> 01:09:38,880 Speaker 1: this being McCarthy, he says he thinks he saw maybe 1349 01:09:38,920 --> 01:09:41,679 Speaker 1: a staffer in a parking garage from one hundred yards away. 1350 01:09:42,520 --> 01:09:45,879 Speaker 1: Then he says, McCarthy, it's just frustrating. There's no evidence 1351 01:09:45,920 --> 01:09:47,720 Speaker 1: behind his statements. And when I sit down with him, 1352 01:09:47,760 --> 01:09:49,400 Speaker 1: I told him, you can't make statements like that as 1353 01:09:49,400 --> 01:09:51,640 Speaker 1: a member of Congress. That affects everybody else in the 1354 01:09:51,640 --> 01:09:53,960 Speaker 1: country as a whole. Yeah, and so then let's put 1355 01:09:53,960 --> 01:09:56,479 Speaker 1: this next one up there. McCarthy continued, He basically's treating 1356 01:09:56,560 --> 01:09:59,120 Speaker 1: him like a teenager. Yeah. McCarthy says he told Madison 1357 01:09:59,160 --> 01:10:02,439 Speaker 1: Cawthorn during a meet today, the freshman has lost his trust. 1358 01:10:02,800 --> 01:10:06,040 Speaker 1: He needs to take steps to turn his life around 1359 01:10:06,479 --> 01:10:09,880 Speaker 1: or else there could be consequences. He also says Cawthorne 1360 01:10:09,880 --> 01:10:14,240 Speaker 1: admit is his orgy and cocaine allegations were exaggerated and untrue. 1361 01:10:14,400 --> 01:10:16,120 Speaker 1: Now let's throw this next one up there on the screen. 1362 01:10:16,479 --> 01:10:20,360 Speaker 1: Madison's colleague in the Senate, Tom Tillis, the GOP senator, 1363 01:10:20,400 --> 01:10:24,400 Speaker 1: also unloaded on Cawthorn, and he said this quote. I 1364 01:10:24,479 --> 01:10:27,280 Speaker 1: thought about the statement. If it's true, then he's got 1365 01:10:27,320 --> 01:10:29,639 Speaker 1: a lot of information to reveal. If it's not true, 1366 01:10:29,720 --> 01:10:32,519 Speaker 1: he's guilty of being untruthful. He adds, I thought it 1367 01:10:32,560 --> 01:10:34,640 Speaker 1: was a silly statement. It's not the first one. Is 1368 01:10:34,680 --> 01:10:37,599 Speaker 1: Cawthorne a problem? Manuraju asks, at the end of the day, 1369 01:10:37,720 --> 01:10:39,160 Speaker 1: people in the district are going to have to vote 1370 01:10:39,160 --> 01:10:40,360 Speaker 1: for him, and I would ask him to look at 1371 01:10:40,360 --> 01:10:42,320 Speaker 1: his record and ask what he's done since he's been here. 1372 01:10:42,520 --> 01:10:44,920 Speaker 1: Tillis continues, what is his track record of working on 1373 01:10:45,000 --> 01:10:47,160 Speaker 1: tough issues and what's he done for the western part 1374 01:10:47,160 --> 01:10:49,600 Speaker 1: of the state. As for his assessment whether Cawthorne had 1375 01:10:49,600 --> 01:10:53,160 Speaker 1: accomplished much, Tillis says, not a lot in my opinion. 1376 01:10:53,560 --> 01:10:57,080 Speaker 1: So the knives are out for mister Cawthorne. Now, apparently 1377 01:10:57,200 --> 01:10:58,680 Speaker 1: let's put this next one up there. Just put a 1378 01:10:58,680 --> 01:11:02,839 Speaker 1: bow on it, he told Roger Stone. The Congressman Madison 1379 01:11:02,840 --> 01:11:05,400 Speaker 1: Contherance told me he has not retracted his claims about 1380 01:11:05,400 --> 01:11:09,080 Speaker 1: fueled orgies amongst DC elites. Here's the thing. Do I 1381 01:11:09,120 --> 01:11:12,960 Speaker 1: think he was lying? Yes? But do they protest a 1382 01:11:13,000 --> 01:11:15,960 Speaker 1: little bit too much? Crystal the GOP leaders. Here's the 1383 01:11:16,000 --> 01:11:18,880 Speaker 1: thing that makes me angrier than anything about this is 1384 01:11:18,960 --> 01:11:21,960 Speaker 1: like putting us in the position of defecting these assholes 1385 01:11:22,120 --> 01:11:25,080 Speaker 1: and like coining out that, look, there are a million 1386 01:11:25,120 --> 01:11:27,479 Speaker 1: problems with these jewels. Would I be like shocked if 1387 01:11:27,520 --> 01:11:30,759 Speaker 1: there were, like you know, orgies or cocaine or whatever. 1388 01:11:30,880 --> 01:11:32,920 Speaker 1: But you can't just make it up. You have to 1389 01:11:33,000 --> 01:11:35,200 Speaker 1: actually have some evidence. And then it doesn't make him 1390 01:11:35,240 --> 01:11:38,800 Speaker 1: look good either that apparently, you know, according to him, 1391 01:11:39,200 --> 01:11:41,519 Speaker 1: this is all going around him on around him, and 1392 01:11:41,600 --> 01:11:44,360 Speaker 1: he's not saying anything, he's not doing anything, like you're 1393 01:11:44,400 --> 01:11:46,759 Speaker 1: just letting it happen and then sort of like casually 1394 01:11:46,760 --> 01:11:49,960 Speaker 1: spill the beans on this podcast. It's an ab certain situation. Yeah, 1395 01:11:49,960 --> 01:11:52,280 Speaker 1: I think that's right. I just I just gotta say 1396 01:11:52,320 --> 01:11:55,040 Speaker 1: they're protesting a little bit too much. Now, I don't 1397 01:11:55,040 --> 01:11:56,800 Speaker 1: think he's telling the truth. I do think he's lying 1398 01:11:56,800 --> 01:11:59,559 Speaker 1: in this particular instruments. I know, some pretty good gossip, 1399 01:12:00,120 --> 01:12:01,880 Speaker 1: not enough in order to share it to millions of 1400 01:12:01,880 --> 01:12:05,559 Speaker 1: people here. It not is even close to what he's 1401 01:12:05,600 --> 01:12:08,679 Speaker 1: painting here in terms of congressman and all that. But look, 1402 01:12:08,680 --> 01:12:10,880 Speaker 1: the whole Matt Gates thing, I mean that was true, 1403 01:12:10,920 --> 01:12:13,839 Speaker 1: like that actually did happen. Yeah, so it's not Gates 1404 01:12:13,880 --> 01:12:16,680 Speaker 1: and Cauth and our buddies, right, So maybe he's referring him, 1405 01:12:16,680 --> 01:12:19,320 Speaker 1: he's yeah, Well, is he blowing the whistle on Matt 1406 01:12:19,360 --> 01:12:21,640 Speaker 1: Gates here? I don't. I don't think so, because I 1407 01:12:21,680 --> 01:12:24,040 Speaker 1: think that they're kind of allies, right, that could be right, 1408 01:12:24,080 --> 01:12:26,519 Speaker 1: And we're not referring to the blackmail thing, although apparently 1409 01:12:26,520 --> 01:12:28,080 Speaker 1: that turned out to be true. But in terms of 1410 01:12:28,120 --> 01:12:31,120 Speaker 1: Gates has already admitted, you know, coording with prostitutes and 1411 01:12:31,360 --> 01:12:33,120 Speaker 1: a lot of this other stuff while he was actively 1412 01:12:33,360 --> 01:12:36,120 Speaker 1: a member of Congress. That being said, everybody in DC 1413 01:12:36,280 --> 01:12:37,840 Speaker 1: is known about that for a long time, and he 1414 01:12:37,960 --> 01:12:41,000 Speaker 1: kind of was an outlier. The hard partiers everybody knows 1415 01:12:41,040 --> 01:12:43,800 Speaker 1: them too. It's not a secret that guy Duncan Hunter 1416 01:12:44,200 --> 01:12:47,400 Speaker 1: who got indicted the man likes his tequila. I'll leave 1417 01:12:47,439 --> 01:12:50,639 Speaker 1: it at that. He the one he was using campaign finally, 1418 01:12:51,200 --> 01:12:57,479 Speaker 1: like fueling his life style whatever pop shelf tequila, saying 1419 01:12:57,520 --> 01:13:00,519 Speaker 1: it was like things for veterans benefit. So what I 1420 01:13:00,560 --> 01:13:03,960 Speaker 1: mean was disgraceful, totally disgraceful. I don't know my take 1421 01:13:04,000 --> 01:13:05,920 Speaker 1: on it is. I do think he's lying, but I 1422 01:13:05,960 --> 01:13:09,639 Speaker 1: also do think that there's a little bit too much protest. Well, 1423 01:13:09,720 --> 01:13:12,320 Speaker 1: I think it's very revealing what things really set them off. 1424 01:13:12,360 --> 01:13:14,680 Speaker 1: That's true, you know, because I mean you did just 1425 01:13:14,760 --> 01:13:17,600 Speaker 1: have Marjorie Taylor Green and Paul Gozar like going to 1426 01:13:17,640 --> 01:13:20,120 Speaker 1: their white nationalist jamboree or whatever it was, and that 1427 01:13:21,240 --> 01:13:24,240 Speaker 1: elicits less of a response than this does. I mean, 1428 01:13:24,280 --> 01:13:27,040 Speaker 1: even the like, you know, the stop the steel nonsense 1429 01:13:27,120 --> 01:13:31,720 Speaker 1: didn't elicit the response that this did of Madison, you know, 1430 01:13:32,400 --> 01:13:36,280 Speaker 1: floating that some people are doing cocaine and that they're 1431 01:13:36,320 --> 01:13:39,080 Speaker 1: like orgies and prostitutes or whatever. He said, the key 1432 01:13:39,120 --> 01:13:43,320 Speaker 1: bump of cocaine. So look, there's no winners here, there's 1433 01:13:43,320 --> 01:13:46,080 Speaker 1: no heroes here anywhere to be found in this story. 1434 01:13:46,240 --> 01:13:48,479 Speaker 1: You can't just make stuff up about people because you're 1435 01:13:48,520 --> 01:13:52,880 Speaker 1: trying to press a podcast or have some cool populist image, 1436 01:13:52,880 --> 01:13:55,080 Speaker 1: which is clearly what he's going for here, Like, you 1437 01:13:55,120 --> 01:13:57,519 Speaker 1: can't just throw out wild accusations, so that's not okay. 1438 01:13:57,800 --> 01:14:01,760 Speaker 1: But it is interesting that this is the thing that 1439 01:14:01,960 --> 01:14:04,519 Speaker 1: really causes them to sort of go to the mat 1440 01:14:04,560 --> 01:14:07,400 Speaker 1: and really significantly chastise him and come out and make 1441 01:14:07,400 --> 01:14:12,800 Speaker 1: these public comments, etc. Etc. All right, christll what are 1442 01:14:12,800 --> 01:14:15,040 Speaker 1: you taking a look at? Guys? Sixty minutes recently put 1443 01:14:15,080 --> 01:14:18,000 Speaker 1: together what was really quite an exceptional piece on skyrocketing 1444 01:14:18,040 --> 01:14:21,439 Speaker 1: rents and permanent capital, buying a housing stock and putting 1445 01:14:21,439 --> 01:14:24,840 Speaker 1: the American dream firmly out of reach for millions of Americans. 1446 01:14:25,120 --> 01:14:28,799 Speaker 1: To be honest, it's equal parts in lightning and completely enraging. 1447 01:14:29,120 --> 01:14:32,320 Speaker 1: Leslie Stall interviews a millennial couple who were giving up 1448 01:14:32,400 --> 01:14:34,719 Speaker 1: on ever being able to own a home, a housing 1449 01:14:34,760 --> 01:14:37,760 Speaker 1: economist for Redfinn real Estate, and a CEO of a 1450 01:14:37,760 --> 01:14:40,520 Speaker 1: company that has become one of the largest corporate landlords 1451 01:14:40,600 --> 01:14:44,479 Speaker 1: in the country. Race yourself now for world historic levels 1452 01:14:44,520 --> 01:14:48,240 Speaker 1: of corporate gas lighting from this corporate landlord. The majority 1453 01:14:49,200 --> 01:14:51,519 Speaker 1: cannot buy home, cannot afford to buy home, or don't 1454 01:14:51,520 --> 01:14:53,200 Speaker 1: have the credit to buy the home. So for example, 1455 01:14:53,479 --> 01:14:56,200 Speaker 1: they may have student debt, or they may have medical debt, 1456 01:14:56,439 --> 01:14:59,400 Speaker 1: and therefore they can't qualify to get a mortgage. And 1457 01:14:59,400 --> 01:15:00,960 Speaker 1: if they want Act says to a single family home, 1458 01:15:00,960 --> 01:15:02,880 Speaker 1: which we think is incredibly important, this is the best 1459 01:15:02,880 --> 01:15:04,760 Speaker 1: way for them to obtain it. I think if you 1460 01:15:04,800 --> 01:15:06,559 Speaker 1: asked a lot of millennials, and that tends to be 1461 01:15:06,600 --> 01:15:09,559 Speaker 1: our primary resident, they would probably tell you that they 1462 01:15:09,560 --> 01:15:12,040 Speaker 1: don't necessarily desire to own a home or to own 1463 01:15:12,080 --> 01:15:14,519 Speaker 1: a car. They've grown up in the sharing economy and 1464 01:15:14,520 --> 01:15:16,920 Speaker 1: for what's important to them is lifestyle, right, and so 1465 01:15:16,920 --> 01:15:18,640 Speaker 1: if they can move into this what we call a 1466 01:15:18,680 --> 01:15:21,719 Speaker 1: turnkey or hotel ready home and have a low maintenance lifestyle, 1467 01:15:21,880 --> 01:15:25,160 Speaker 1: that's very compelling for them, very compelling. We were told 1468 01:15:25,200 --> 01:15:27,160 Speaker 1: by the head of one of these big companies, the 1469 01:15:27,240 --> 01:15:31,479 Speaker 1: people your age want to rent, that you're not as 1470 01:15:31,520 --> 01:15:34,120 Speaker 1: interested in buying a house. I mean, I think the 1471 01:15:34,160 --> 01:15:37,080 Speaker 1: American dream is owning your own property and having your 1472 01:15:37,120 --> 01:15:40,639 Speaker 1: own dirt that you own. That's specifically why we moved 1473 01:15:40,640 --> 01:15:43,160 Speaker 1: here was to own a house. I realized, my first 1474 01:15:43,160 --> 01:15:44,840 Speaker 1: house is probably going to be a starter home. It 1475 01:15:44,880 --> 01:15:47,880 Speaker 1: may not be that dream house, but it's a house. 1476 01:15:48,120 --> 01:15:53,920 Speaker 1: It's a home. Now. Our dream is now unattainable, disturbing. 1477 01:15:54,200 --> 01:15:56,479 Speaker 1: Most people desire that single family home with a picket fence, 1478 01:15:56,520 --> 01:15:58,280 Speaker 1: and if they can't buy it because they can't afford it, 1479 01:15:58,320 --> 01:16:00,799 Speaker 1: they're only option is to rent it. But the investors 1480 01:16:00,880 --> 01:16:03,320 Speaker 1: buying it, Yeah, and they're getting that wealth that normally 1481 01:16:03,439 --> 01:16:05,320 Speaker 1: or in previous years would have gone to the person 1482 01:16:05,400 --> 01:16:08,760 Speaker 1: living there. So what's happened to the American dream? When 1483 01:16:08,800 --> 01:16:10,479 Speaker 1: we used to say that it meant owning a house, 1484 01:16:10,760 --> 01:16:12,880 Speaker 1: what's the American dream now? Well, if we think the 1485 01:16:12,920 --> 01:16:16,320 Speaker 1: American dream is embodied in a suburban home with a 1486 01:16:16,400 --> 01:16:18,479 Speaker 1: yard on a white pick offense, then I think we're 1487 01:16:18,479 --> 01:16:20,760 Speaker 1: making the American dream much more accessible. Rent your American 1488 01:16:21,000 --> 01:16:23,519 Speaker 1: You can rent the American dream, that is, if you 1489 01:16:23,520 --> 01:16:27,479 Speaker 1: can afford the rent. I am losing my mind over 1490 01:16:27,520 --> 01:16:29,439 Speaker 1: this link in the description to watch the whole thing. 1491 01:16:29,439 --> 01:16:31,960 Speaker 1: It's definitely worth it. Now. This dude knows what he 1492 01:16:32,040 --> 01:16:35,280 Speaker 1: is saying is complete nonsense. He even starts by citing 1493 01:16:35,280 --> 01:16:37,559 Speaker 1: the high levels of debt burdens that millennials are struggling 1494 01:16:37,600 --> 01:16:39,800 Speaker 1: with that are making it impossible for them to ever 1495 01:16:39,880 --> 01:16:43,000 Speaker 1: own a home, right before he launches into his bullshit 1496 01:16:43,040 --> 01:16:45,719 Speaker 1: about how he's really doing them a great favor, because Actuley, 1497 01:16:45,760 --> 01:16:48,040 Speaker 1: millennials are dying to just be in the renter class 1498 01:16:48,040 --> 01:16:51,080 Speaker 1: for life. I also love his seeming assumption that they 1499 01:16:51,160 --> 01:16:53,760 Speaker 1: love the sharing economy, which has destroyed labor markets and 1500 01:16:53,800 --> 01:16:56,160 Speaker 1: made working life even more precarious for millions with a 1501 01:16:56,160 --> 01:16:58,680 Speaker 1: few other options. Now, you might say, well, look, it's 1502 01:16:58,680 --> 01:17:00,840 Speaker 1: not his fault that millennial debt life are so high, 1503 01:17:00,880 --> 01:17:03,400 Speaker 1: so he's at least offering some access to a home 1504 01:17:03,439 --> 01:17:06,439 Speaker 1: that might not otherwise be available. But make no mistake 1505 01:17:06,800 --> 01:17:09,880 Speaker 1: that the mass stampede of permanent capital into the market 1506 01:17:09,960 --> 01:17:12,600 Speaker 1: for single family homes has been a disaster, and it 1507 01:17:12,640 --> 01:17:16,040 Speaker 1: has made the problem so much worse. In some markets. 1508 01:17:16,439 --> 01:17:19,519 Speaker 1: Thirty percent of new home offers are coming from giant 1509 01:17:19,560 --> 01:17:23,160 Speaker 1: corporate bohemoths. Overall, nearly twenty percent of homes were purchased 1510 01:17:23,160 --> 01:17:25,880 Speaker 1: by permanent capital. That is a record high. In Q 1511 01:17:25,960 --> 01:17:29,559 Speaker 1: three of twenty twenty one alone, investors snatched up ninety 1512 01:17:29,720 --> 01:17:33,160 Speaker 1: thousand homes, which also marked a record high. Now, this 1513 01:17:33,280 --> 01:17:35,200 Speaker 1: is part of the reason why the average selling price 1514 01:17:35,240 --> 01:17:37,960 Speaker 1: of new homes has shot up to an eye watering 1515 01:17:38,360 --> 01:17:41,920 Speaker 1: five hundred and eleven thousand dollars. More than half a 1516 01:17:41,920 --> 01:17:45,080 Speaker 1: million dollars. That is a twenty five percent increase in 1517 01:17:45,280 --> 01:17:48,080 Speaker 1: just the last year alone. But sticker shock is not 1518 01:17:48,120 --> 01:17:50,880 Speaker 1: the only issue. A flood of investors with all cash 1519 01:17:50,880 --> 01:17:53,599 Speaker 1: in hand has made it extremely difficult to get into 1520 01:17:53,600 --> 01:17:55,879 Speaker 1: the market if you don't have nearly the whole purchase 1521 01:17:55,880 --> 01:17:58,400 Speaker 1: price in cash just chilling in your bank account. And 1522 01:17:58,439 --> 01:18:01,479 Speaker 1: who has that certainly not regular wage earners who are 1523 01:18:01,479 --> 01:18:04,200 Speaker 1: trying to scrimp and save over years for that down payment. 1524 01:18:04,680 --> 01:18:07,479 Speaker 1: Maybe if you're college educated working in a white collar job, 1525 01:18:07,520 --> 01:18:09,880 Speaker 1: if you really nose to the grindstone for a decade, 1526 01:18:10,240 --> 01:18:12,639 Speaker 1: maybe you can pull it off, especially if you're able 1527 01:18:12,680 --> 01:18:15,360 Speaker 1: to pull off remote work earning a coastal city salary 1528 01:18:15,520 --> 01:18:18,320 Speaker 1: while residing in a more affordable locale. But if you're 1529 01:18:18,360 --> 01:18:20,840 Speaker 1: a blue collar worker, a service sector worker, a pink 1530 01:18:20,840 --> 01:18:23,519 Speaker 1: collar worker, professional like a nurse or a teacher, forget 1531 01:18:23,560 --> 01:18:26,439 Speaker 1: about it. It's especially cruel that these are the very 1532 01:18:26,479 --> 01:18:29,320 Speaker 1: people who would financially benefit the most from being able 1533 01:18:29,360 --> 01:18:31,680 Speaker 1: to move to cheaper towns, but who must be on 1534 01:18:31,760 --> 01:18:35,479 Speaker 1: the job in person every day. Increasingly, the only people 1535 01:18:35,520 --> 01:18:37,240 Speaker 1: trying to get a foothold in the housing market with 1536 01:18:37,280 --> 01:18:39,920 Speaker 1: these sky high prices and all cash demands of today 1537 01:18:40,160 --> 01:18:42,360 Speaker 1: are the ones who can rely on mom and dad 1538 01:18:42,360 --> 01:18:46,280 Speaker 1: for help. This fact the near necessity of inner generational 1539 01:18:46,320 --> 01:18:48,840 Speaker 1: wealth in order to enter the home ownership class. It 1540 01:18:48,920 --> 01:18:52,519 Speaker 1: has massive and profound implications, so let me explain why. 1541 01:18:52,960 --> 01:18:55,000 Speaker 1: In a seminal book Capital in the twenty first Century, 1542 01:18:55,080 --> 01:18:58,400 Speaker 1: Thomas Paghetti demonstrated that the return on assets is always 1543 01:18:58,439 --> 01:19:00,679 Speaker 1: going to be more than wage growth. To put it simply, 1544 01:19:00,960 --> 01:19:03,080 Speaker 1: if you want to build the kind of stable middle 1545 01:19:03,080 --> 01:19:05,840 Speaker 1: class wealth that we associate with the American trade, you've 1546 01:19:05,880 --> 01:19:09,880 Speaker 1: got to own assets. And of course the primary asset 1547 01:19:09,960 --> 01:19:13,320 Speaker 1: owned by non billionaires is their home. Good home, good 1548 01:19:13,320 --> 01:19:16,639 Speaker 1: neighborhood with good schools. That is the ticket. As ned 1549 01:19:16,720 --> 01:19:19,040 Speaker 1: Resnakov points out in a fantastic new piece for the Nation, 1550 01:19:19,479 --> 01:19:22,760 Speaker 1: homeowners are not just more financially secure and less precarious, 1551 01:19:22,920 --> 01:19:25,559 Speaker 1: that personal and financial stability also leads them to punch 1552 01:19:25,560 --> 01:19:29,839 Speaker 1: above their weight politically. This political power helps create policy, 1553 01:19:29,840 --> 01:19:31,960 Speaker 1: whether it's at the FED or through Congress, which is 1554 01:19:32,000 --> 01:19:36,519 Speaker 1: designed to supercharge the housing market, conferring ever increasing wealth 1555 01:19:36,800 --> 01:19:39,160 Speaker 1: on the lucky class who's been able through their age 1556 01:19:39,240 --> 01:19:42,080 Speaker 1: or through mommy and daddy's help or other fortunate circumstances 1557 01:19:42,320 --> 01:19:46,280 Speaker 1: to jump on that housing price escalator, building wealth and 1558 01:19:46,360 --> 01:19:49,240 Speaker 1: separating from the renter class, which is stuck on a treadmill, 1559 01:19:49,520 --> 01:19:52,479 Speaker 1: paying large and growing portions of their income to pay 1560 01:19:52,479 --> 01:19:56,080 Speaker 1: off assets for their landlords. The logic of ever increasing 1561 01:19:56,080 --> 01:20:00,560 Speaker 1: house prices to satisfy existing homeowners will only widen this divide, 1562 01:20:00,640 --> 01:20:04,400 Speaker 1: cementing class divides across generations. So if your parents own 1563 01:20:04,479 --> 01:20:06,640 Speaker 1: a home, then they were much more likely to have 1564 01:20:06,720 --> 01:20:08,679 Speaker 1: the money to give you that down payment to own 1565 01:20:08,720 --> 01:20:11,320 Speaker 1: your own home. If not, you may just well be 1566 01:20:11,400 --> 01:20:13,960 Speaker 1: locked down forever. Now, all of this raises a very 1567 01:20:13,960 --> 01:20:17,400 Speaker 1: provocative question, are we actually thinking about the classified in 1568 01:20:17,400 --> 01:20:20,599 Speaker 1: America all wrong? If home ownership is actually the key 1569 01:20:20,640 --> 01:20:22,960 Speaker 1: to wealth and inequality, and home ownership is central to 1570 01:20:23,040 --> 01:20:27,160 Speaker 1: politics on issues ranging from taxes to schools to monetary policy, 1571 01:20:27,640 --> 01:20:30,040 Speaker 1: is it better to think of class categories in terms 1572 01:20:30,080 --> 01:20:33,400 Speaker 1: of homeowners and landlords and renters as opposed to the 1573 01:20:33,439 --> 01:20:37,000 Speaker 1: more traditional Marxist categories of labor and capital. That is 1574 01:20:37,040 --> 01:20:39,760 Speaker 1: actually Resnacost's thesis in that piece that I just showed you, 1575 01:20:40,000 --> 01:20:41,840 Speaker 1: and it's also the thesis of a book that he 1576 01:20:42,000 --> 01:20:46,000 Speaker 1: cites titled The Asset Economy by economists Lisa Adkins, Melinda Cooper, 1577 01:20:46,240 --> 01:20:49,800 Speaker 1: Martin Cohenings. In it, they argue persuasively that the key 1578 01:20:49,920 --> 01:20:53,760 Speaker 1: element shaping inequality is no longer the employment relationship, but 1579 01:20:53,880 --> 01:20:57,040 Speaker 1: rather whether one is able to buy assets that appreciate 1580 01:20:57,120 --> 01:21:00,960 Speaker 1: at a faster rate than both inflation and wages. Now that's, 1581 01:21:01,000 --> 01:21:03,360 Speaker 1: of course, not to say that employment doesn't still matter. 1582 01:21:03,439 --> 01:21:05,840 Speaker 1: Of course it does. Who's treated as human, who's not 1583 01:21:05,880 --> 01:21:08,280 Speaker 1: at their workplace, who earn sufficient wages that they might 1584 01:21:08,360 --> 01:21:10,840 Speaker 1: have a prayer of acquiring assets even without mommy and 1585 01:21:10,920 --> 01:21:14,280 Speaker 1: daddy's help. But if assets are shaping inequality and economics 1586 01:21:14,280 --> 01:21:17,320 Speaker 1: more directly than wages, it makes sense to remodel our 1587 01:21:17,320 --> 01:21:21,439 Speaker 1: class categories to match this modern reality. Now, the potential 1588 01:21:21,439 --> 01:21:24,720 Speaker 1: political implications of all of this are extremely profound. I 1589 01:21:24,760 --> 01:21:27,120 Speaker 1: can actually just begin to scratch the surface here. I'm 1590 01:21:27,160 --> 01:21:30,080 Speaker 1: just beginning to wrap my mind around it. Honestly, this 1591 01:21:30,080 --> 01:21:32,800 Speaker 1: frame positions home ownership as close to our right. It 1592 01:21:32,840 --> 01:21:36,040 Speaker 1: makes it absolutely critical that we impost stringent regulations on 1593 01:21:36,160 --> 01:21:39,760 Speaker 1: mass corporate ownership in the housing market. It puts intergenerational 1594 01:21:39,800 --> 01:21:43,120 Speaker 1: wealth transfers at the very center of our escalating inequality 1595 01:21:43,400 --> 01:21:46,679 Speaker 1: it would indicate that social stability requires maintaining a balance 1596 01:21:46,720 --> 01:21:49,680 Speaker 1: between the asset inflation that homeowners benefit from and the 1597 01:21:49,720 --> 01:21:52,400 Speaker 1: affordability that allows others to gain a toe hold, and 1598 01:21:52,479 --> 01:21:54,680 Speaker 1: it provides a lot of insight into why the politics 1599 01:21:54,680 --> 01:21:57,120 Speaker 1: of those under forty so different from those Gen X 1600 01:21:57,160 --> 01:21:59,920 Speaker 1: and older. It's no secret that millennials and zoomers are 1601 01:22:00,120 --> 01:22:02,920 Speaker 1: much more comfortable with socialism or even enthusiastic about it, 1602 01:22:03,080 --> 01:22:05,639 Speaker 1: that they back Bernie Sanders over Hillary and Biden Trump 1603 01:22:05,640 --> 01:22:08,720 Speaker 1: by large margins. It's also no secret that these generations 1604 01:22:08,760 --> 01:22:12,559 Speaker 1: overall own less than previous generations did at the same age. 1605 01:22:12,760 --> 01:22:15,240 Speaker 1: So if you start to view our political landscape through 1606 01:22:15,280 --> 01:22:17,760 Speaker 1: this divide, you start to see it everywhere, from the 1607 01:22:17,800 --> 01:22:21,200 Speaker 1: culture wars to economics. And the sad fact is that 1608 01:22:21,320 --> 01:22:24,000 Speaker 1: millions are standing on the shore watching their dreams of 1609 01:22:24,040 --> 01:22:27,280 Speaker 1: home ownership sail further and further into the distance, left 1610 01:22:27,320 --> 01:22:30,320 Speaker 1: with the cold reality that the closest they will come 1611 01:22:30,320 --> 01:22:33,280 Speaker 1: to the American dream is renting it from the gooulish 1612 01:22:33,439 --> 01:22:37,160 Speaker 1: gaslighter landlord who's there to assure you that endless percarity 1613 01:22:37,320 --> 01:22:40,160 Speaker 1: is actually what you really want. And you know, I 1614 01:22:40,160 --> 01:22:42,439 Speaker 1: think it's really actually quite profound to think about the 1615 01:22:42,479 --> 01:22:45,080 Speaker 1: real divide in America being between and if you want 1616 01:22:45,120 --> 01:22:48,040 Speaker 1: to hear my reaction to Crystal's monologue, become a premium 1617 01:22:48,040 --> 01:22:52,640 Speaker 1: subscriber today at Breakingpoints dot Com. All right, Sager, what 1618 01:22:52,640 --> 01:22:55,000 Speaker 1: are you looking at? Well, it's common sense these days 1619 01:22:55,000 --> 01:22:57,599 Speaker 1: to just say some version of we've all gone soft, 1620 01:22:57,800 --> 01:23:00,479 Speaker 1: we never could make it through a war. Think there's 1621 01:23:00,520 --> 01:23:02,200 Speaker 1: a lot of truth to that, But I would also 1622 01:23:02,200 --> 01:23:04,000 Speaker 1: say the history of warfare, at least here in the 1623 01:23:04,120 --> 01:23:07,439 Speaker 1: US is usually we start out with the decadent, foolish 1624 01:23:07,479 --> 01:23:11,520 Speaker 1: elite that leads the country into a disaster. They eventually 1625 01:23:11,680 --> 01:23:14,639 Speaker 1: get thrown out, and then the real meritocratic heroes rise 1626 01:23:14,720 --> 01:23:16,920 Speaker 1: up to eventually save us near the end of the war. 1627 01:23:17,200 --> 01:23:20,080 Speaker 1: Preferably we just don't enter that cycle in the first place. 1628 01:23:20,320 --> 01:23:22,760 Speaker 1: But sadly, I think that we kind of are if 1629 01:23:22,960 --> 01:23:25,720 Speaker 1: war were to ever break out anytime soon. I've been 1630 01:23:25,720 --> 01:23:27,400 Speaker 1: thinking about this a lot in the context of a 1631 01:23:27,439 --> 01:23:30,719 Speaker 1: recent thread from Michael Kaufman. He's the military analyst obviously, 1632 01:23:30,760 --> 01:23:33,280 Speaker 1: who we've highlighted here on the show many times. Michael's 1633 01:23:33,320 --> 01:23:36,240 Speaker 1: analysis shines and that he doesn't desire viral Twitter threads 1634 01:23:36,280 --> 01:23:38,760 Speaker 1: or MSNBC hits he simply just wants to tell you 1635 01:23:38,800 --> 01:23:41,880 Speaker 1: the truth. And from the beginning he has warned Americans 1636 01:23:41,920 --> 01:23:46,160 Speaker 1: triumphant that the Russian military objectives weren't being accomplished, that 1637 01:23:46,240 --> 01:23:49,719 Speaker 1: while that's true, well they were not twelve feet tall, 1638 01:23:50,000 --> 01:23:53,160 Speaker 1: also saying that the Russian military is four feet tall, 1639 01:23:53,439 --> 01:23:56,200 Speaker 1: it's not really right either. Michael a few days ago 1640 01:23:56,240 --> 01:23:59,400 Speaker 1: responded to the overwhelming sentiment among the commentariat that the 1641 01:23:59,520 --> 01:24:03,000 Speaker 1: Russian military had embarrassed itself, saying that while certainly true 1642 01:24:03,040 --> 01:24:07,120 Speaker 1: in part quote, this may prove an unpopular sentiment, but 1643 01:24:07,240 --> 01:24:11,000 Speaker 1: watching reactions to poor Russian military performance in Ukraine has 1644 01:24:11,040 --> 01:24:13,840 Speaker 1: taught me a bit about my own defense community. That 1645 01:24:13,920 --> 01:24:17,639 Speaker 1: we may be psychologically unprepared for war with a determined 1646 01:24:17,680 --> 01:24:21,679 Speaker 1: opponent that has some parody of capability. He adds, looking 1647 01:24:21,680 --> 01:24:24,480 Speaker 1: at some of the takes, it strikes me our expectations 1648 01:24:24,520 --> 01:24:28,640 Speaker 1: of success, ease of force, employment, integration, logistics, and the 1649 01:24:28,680 --> 01:24:32,960 Speaker 1: potential costs in a high end conventional conflict are overdrawn 1650 01:24:33,040 --> 01:24:37,880 Speaker 1: from wars in Iraq and Afghanistan. He continues, quote, Undoubtedly, 1651 01:24:37,960 --> 01:24:42,280 Speaker 1: the United States is much better across the board at organization, logistics, integration, 1652 01:24:42,360 --> 01:24:45,880 Speaker 1: and tactics. That said, I am not sure we appreciate 1653 01:24:45,920 --> 01:24:49,600 Speaker 1: the challenge of taking on a sizeable, competent force with 1654 01:24:49,760 --> 01:24:54,559 Speaker 1: high morale that's characteristically different from recent opponents. I wish 1655 01:24:54,640 --> 01:24:57,519 Speaker 1: I could emphasize that a thousand times. I've felt it 1656 01:24:57,560 --> 01:25:00,519 Speaker 1: in my bones since this conflict started. So many of 1657 01:25:00,560 --> 01:25:04,439 Speaker 1: our current commentary class has no experience with war, and 1658 01:25:04,560 --> 01:25:07,160 Speaker 1: even if they do, it's in the conflicts of Iraq 1659 01:25:07,200 --> 01:25:11,760 Speaker 1: and Afghanistan. And look, those were strategic boondoggles on the 1660 01:25:11,800 --> 01:25:14,439 Speaker 1: part of the US military and the US government, but 1661 01:25:14,960 --> 01:25:18,880 Speaker 1: we still had overwhelming firepower. We never faced a conventional 1662 01:25:18,960 --> 01:25:22,599 Speaker 1: or committed worthy adversary. This has led to a massive 1663 01:25:22,760 --> 01:25:26,120 Speaker 1: overinflation of ego on the part of US elites. It 1664 01:25:26,200 --> 01:25:29,760 Speaker 1: is precisely why people are so comfortable calling for a 1665 01:25:29,800 --> 01:25:32,800 Speaker 1: no fly zone in Ukraine or putting the United States 1666 01:25:32,840 --> 01:25:35,240 Speaker 1: on the brink of war with Russia by advocating for 1667 01:25:35,280 --> 01:25:38,719 Speaker 1: the most maximist of actions. First of all these people 1668 01:25:38,760 --> 01:25:41,080 Speaker 1: in the media, they of course will never fight and 1669 01:25:41,120 --> 01:25:43,519 Speaker 1: their kids won't either. But more to the core is 1670 01:25:43,600 --> 01:25:47,439 Speaker 1: a glorification of war, almost commiserate with how US elites 1671 01:25:47,600 --> 01:25:49,519 Speaker 1: thought about this all the way back in the early 1672 01:25:49,640 --> 01:25:52,639 Speaker 1: nineteen hundreds, before the horrors of the First World War 1673 01:25:52,640 --> 01:25:56,080 Speaker 1: were clear. At that time, the US was rising. It 1674 01:25:56,080 --> 01:25:58,680 Speaker 1: should take its rightful place. Yeah, war is bad, but 1675 01:25:58,720 --> 01:26:01,280 Speaker 1: it's not that bad, and it's worth it if it 1676 01:26:01,320 --> 01:26:05,320 Speaker 1: accomplishes this or that aim the Philippines, Cuba. Those feelings 1677 01:26:05,439 --> 01:26:08,720 Speaker 1: were overwhelming at the time. And now compare it to 1678 01:26:08,720 --> 01:26:11,760 Speaker 1: the twitterati and the commentariat who seemed to believe that 1679 01:26:11,840 --> 01:26:14,439 Speaker 1: war with Russia would be some sort of cakewalk after 1680 01:26:14,520 --> 01:26:17,439 Speaker 1: how much they've embarrassed themselves in Ukraine. But they forget 1681 01:26:17,479 --> 01:26:20,360 Speaker 1: an important lesson. The United States has not engaged in 1682 01:26:20,360 --> 01:26:23,080 Speaker 1: this type of conflict since the Korean War or even 1683 01:26:23,160 --> 01:26:26,000 Speaker 1: World War II, And for those who don't read books, 1684 01:26:26,200 --> 01:26:28,960 Speaker 1: they forget the true horrors of what real war looks like. 1685 01:26:29,320 --> 01:26:32,479 Speaker 1: Wars usually last a really long time in the modern age, 1686 01:26:32,560 --> 01:26:36,320 Speaker 1: they require the enormous expenditure of human life to arrive 1687 01:26:36,439 --> 01:26:39,640 Speaker 1: at some sort of settlement. And worse, they exposed the 1688 01:26:39,680 --> 01:26:42,599 Speaker 1: egos and the assumptions of a class who usually at 1689 01:26:42,600 --> 01:26:45,599 Speaker 1: the top say it's all going to be completely fine. 1690 01:26:45,800 --> 01:26:48,800 Speaker 1: American military analysts seem to believe that we would probably 1691 01:26:48,840 --> 01:26:51,360 Speaker 1: fare so much better in a conventional conflict. It might 1692 01:26:51,400 --> 01:26:54,000 Speaker 1: be true in part, but people forget one of the 1693 01:26:54,040 --> 01:26:56,200 Speaker 1: first major battles of the United States fought in World 1694 01:26:56,200 --> 01:26:59,759 Speaker 1: War Two was Casserine Pass, where the United States suffered 1695 01:26:59,800 --> 01:27:03,599 Speaker 1: a humiliating defeat to Nazi Germany, lost a thousand men 1696 01:27:03,640 --> 01:27:05,679 Speaker 1: in the span of just a few days and suffered 1697 01:27:05,680 --> 01:27:09,599 Speaker 1: an additional five thousand casualties, not to mention Allied losses, 1698 01:27:09,680 --> 01:27:12,720 Speaker 1: which resulted in the delay of the Normandy invasion and 1699 01:27:12,800 --> 01:27:16,240 Speaker 1: a total reorganization of the US Army. While the conflict 1700 01:27:16,240 --> 01:27:18,400 Speaker 1: in Ukraine is hopefully coming to some sort of end 1701 01:27:18,560 --> 01:27:21,760 Speaker 1: without US involvement given recent talks, I still have to 1702 01:27:21,800 --> 01:27:25,320 Speaker 1: just give one final warning on this. In nineteen thirty nine, Russia, 1703 01:27:25,360 --> 01:27:28,160 Speaker 1: feeling emboldened by the collapsing of the European Order, had 1704 01:27:28,160 --> 01:27:30,400 Speaker 1: a peace deal with Hitler and the chance to grab 1705 01:27:30,439 --> 01:27:34,080 Speaker 1: some land, decided to invade Finland, a smaller neighboring adversary. 1706 01:27:34,200 --> 01:27:35,920 Speaker 1: They thought they would take in just a few days. 1707 01:27:36,040 --> 01:27:38,120 Speaker 1: They thought they would be greeted as liberators and that 1708 01:27:38,160 --> 01:27:41,759 Speaker 1: the campaign would mostly be an afterthought. Sound familiar. Well, 1709 01:27:41,920 --> 01:27:44,400 Speaker 1: as I've talked about here on the show before, the 1710 01:27:44,439 --> 01:27:47,080 Speaker 1: Winter War in Finland was a disaster for the Russians, 1711 01:27:47,280 --> 01:27:49,320 Speaker 1: nearly one hundred thousand of them were killed. They had 1712 01:27:49,360 --> 01:27:52,800 Speaker 1: to sue for peace after humiliating defeat, And it's analogus 1713 01:27:52,880 --> 01:27:54,640 Speaker 1: in a lot of ways to what's going on with 1714 01:27:54,760 --> 01:27:59,000 Speaker 1: Ukraine right now. But somebody watching that thought, wow, look 1715 01:27:59,040 --> 01:28:01,920 Speaker 1: at these Russians. They're useless in battle. We can easily 1716 01:28:01,920 --> 01:28:03,680 Speaker 1: take them on. How are they going to face a 1717 01:28:03,760 --> 01:28:06,479 Speaker 1: mighty army if they can't even beat the freaking fins. 1718 01:28:06,800 --> 01:28:09,439 Speaker 1: That person's name was Adolf Hitler, and it was the 1719 01:28:09,479 --> 01:28:13,160 Speaker 1: impetus for launching Operation Barbarossa, the ending of the peace 1720 01:28:13,200 --> 01:28:15,799 Speaker 1: with the Soviet Union and the Nazi invasion of Russia. 1721 01:28:16,080 --> 01:28:19,479 Speaker 1: Their results are now well known to history, the failed approach, fear, 1722 01:28:19,560 --> 01:28:22,280 Speaker 1: Soviet resistance to the last Man, total war on the 1723 01:28:22,280 --> 01:28:25,439 Speaker 1: part of the Russians, Stalingrad, the eventual encirclement of what 1724 01:28:25,520 --> 01:28:28,479 Speaker 1: was left for the German army. All told, nearly eighty 1725 01:28:28,600 --> 01:28:32,000 Speaker 1: percent of Nazi casualties in World War II occurred on 1726 01:28:32,080 --> 01:28:36,479 Speaker 1: the Eastern Front, where they nearly lost five million troops 1727 01:28:36,560 --> 01:28:39,920 Speaker 1: dead and another four million captured. In other words, a 1728 01:28:39,960 --> 01:28:43,800 Speaker 1: poor Russian showing in an ill advised military adventure is 1729 01:28:43,920 --> 01:28:47,240 Speaker 1: not a good proxy for how direct conflict over something 1730 01:28:47,320 --> 01:28:50,360 Speaker 1: existential in stakes for how that army may end up. 1731 01:28:50,640 --> 01:28:53,679 Speaker 1: The hubris of Germany in nineteen forty is well understood 1732 01:28:53,720 --> 01:28:56,840 Speaker 1: within the context of those times. But they had warnings 1733 01:28:56,960 --> 01:29:01,120 Speaker 1: before them in Napoleon's invasion of Russia two invading after 1734 01:29:01,200 --> 01:29:04,120 Speaker 1: beating them and many other forces on the battlefields of Europe, 1735 01:29:04,280 --> 01:29:06,880 Speaker 1: but then finding out the hard lesson of losing the 1736 01:29:06,960 --> 01:29:09,840 Speaker 1: vast majority of troops during that invasion. I'm just gonna 1737 01:29:09,880 --> 01:29:11,920 Speaker 1: end it this way, in the way I started. Yeah, 1738 01:29:12,040 --> 01:29:14,040 Speaker 1: the Russians are not twelve feet tall, but they're not 1739 01:29:14,120 --> 01:29:16,760 Speaker 1: four feet tall either. We would well remember that as 1740 01:29:16,760 --> 01:29:19,040 Speaker 1: we forge new ties, and for the sake of our 1741 01:29:19,080 --> 01:29:21,800 Speaker 1: loved ones and the lives of soldiers, we should do 1742 01:29:21,920 --> 01:29:25,000 Speaker 1: everything in our power to ensure that they must never suffer, 1743 01:29:25,200 --> 01:29:28,519 Speaker 1: because history tells us often when we are over confident, 1744 01:29:28,800 --> 01:29:30,040 Speaker 1: they are the ones who are going to pay them 1745 01:29:30,040 --> 01:29:32,160 Speaker 1: most dearly. I've just been thinking about it, Crystal, in 1746 01:29:32,200 --> 01:29:35,320 Speaker 1: terms of the way that and if you want to 1747 01:29:35,360 --> 01:29:38,960 Speaker 1: hear my reaction to Sager's monologue, become a premium subscriber 1748 01:29:39,000 --> 01:29:43,679 Speaker 1: today at Breakingpoints dot com. For quite a while now, guys, 1749 01:29:43,680 --> 01:29:46,559 Speaker 1: we've been tracking the coal miners who are on strike 1750 01:29:46,640 --> 01:29:50,040 Speaker 1: down in Alabama. Those are Warrior Met coal miners and 1751 01:29:50,080 --> 01:29:54,760 Speaker 1: their strike is coming up now on one year anniversary. 1752 01:29:55,080 --> 01:29:58,280 Speaker 1: So these workers have been out protesting for better wages, 1753 01:29:58,320 --> 01:30:01,720 Speaker 1: better conditions now for a fue year. And so with 1754 01:30:01,840 --> 01:30:04,160 Speaker 1: an anniversary, we wanted to bring in Hayden write to 1755 01:30:04,160 --> 01:30:06,639 Speaker 1: give us an update. I'm sure you guys recall Hayden 1756 01:30:06,720 --> 01:30:10,000 Speaker 1: is president of UMWA Auxiliary Locals number two three six 1757 01:30:10,080 --> 01:30:12,080 Speaker 1: eight and two two four five. And it's so great 1758 01:30:12,080 --> 01:30:14,439 Speaker 1: to see you. Good to see Hayden. Thank you so 1759 01:30:14,520 --> 01:30:16,800 Speaker 1: much for having me on today. To everybody about the 1760 01:30:16,800 --> 01:30:19,360 Speaker 1: Warrior Bit struck. Yeah, coour, so just bring us up 1761 01:30:19,640 --> 01:30:21,880 Speaker 1: up to date. What's been going on since we last 1762 01:30:21,920 --> 01:30:25,320 Speaker 1: checked in. So we have been on struck since April first, 1763 01:30:25,360 --> 01:30:26,880 Speaker 1: so we're now brought out a year. So for a 1764 01:30:26,920 --> 01:30:28,640 Speaker 1: lot of the guys, this was the last day that 1765 01:30:28,680 --> 01:30:32,880 Speaker 1: they actually stepped foot home to mind property. We've been 1766 01:30:32,920 --> 01:30:36,439 Speaker 1: standing strong, pickets are about going, We have rallis every week. 1767 01:30:36,800 --> 01:30:40,160 Speaker 1: We have a large rally and caravan planned for April sixth, 1768 01:30:40,520 --> 01:30:42,160 Speaker 1: So we'd love to about anyone who would like to 1769 01:30:42,160 --> 01:30:43,840 Speaker 1: come out and show us solidarity to come out and 1770 01:30:43,840 --> 01:30:48,360 Speaker 1: support us at Jenniel State Park at eleven o'clock. Yeah, 1771 01:30:48,400 --> 01:30:51,160 Speaker 1: and just give us an update in terms of the demands. 1772 01:30:51,200 --> 01:30:53,280 Speaker 1: And you know, for some of the new people who 1773 01:30:53,360 --> 01:30:55,960 Speaker 1: might be joining us, it's been one year what precipitated 1774 01:30:56,000 --> 01:30:59,320 Speaker 1: the strike in the first place, and we're on an 1775 01:30:59,400 --> 01:31:03,320 Speaker 1: unfair labor practices strike. So basically, back in twenty fifteen 1776 01:31:03,360 --> 01:31:08,800 Speaker 1: twenty sixteen, Warrior Met which was Walter Energy, filed for bankruptcy. 1777 01:31:09,520 --> 01:31:12,200 Speaker 1: So in order to maintain the union and to save 1778 01:31:12,280 --> 01:31:16,800 Speaker 1: pensions for retirees, to keep union jobs here in Alabama, 1779 01:31:17,080 --> 01:31:20,520 Speaker 1: we had to take massive concessions with a bankruptcy contract 1780 01:31:20,920 --> 01:31:25,040 Speaker 1: because bankruptcy laws in this country favor the corporations over 1781 01:31:25,080 --> 01:31:28,000 Speaker 1: the people. So the judge left this company out free 1782 01:31:28,000 --> 01:31:31,320 Speaker 1: and clear. So while we maintained the same CEO, a 1783 01:31:31,360 --> 01:31:33,759 Speaker 1: lot of the same board members actually drove the company 1784 01:31:33,760 --> 01:31:37,320 Speaker 1: into bankruptcy. It was the workers who were actually forced 1785 01:31:37,360 --> 01:31:41,120 Speaker 1: to take major concessions. We lost six dollars an hour 1786 01:31:41,160 --> 01:31:44,040 Speaker 1: in pay. We went from one hundred percent insurance to 1787 01:31:44,200 --> 01:31:47,120 Speaker 1: eighty twenty insurance with a seven hundred and twenty deducible 1788 01:31:47,160 --> 01:31:50,920 Speaker 1: per person. So those are huge things. Another thing that 1789 01:31:50,920 --> 01:31:53,440 Speaker 1: we're striking for is to time off with our families, 1790 01:31:54,160 --> 01:31:58,880 Speaker 1: because for the past five years, our spouses have worked 1791 01:31:58,920 --> 01:32:02,080 Speaker 1: six to seven days a week, ten to twelve to 1792 01:32:02,160 --> 01:32:05,839 Speaker 1: fourteen hours a day, so you never saw your family. 1793 01:32:06,560 --> 01:32:10,240 Speaker 1: And while Warrior Matt claims that they offered nine holidays, 1794 01:32:10,600 --> 01:32:14,360 Speaker 1: in fact, they only offered three physical holidays with your family, 1795 01:32:14,840 --> 01:32:18,599 Speaker 1: and that was Thanksgiving, Christmas Eve, and Christmas Day. If 1796 01:32:18,640 --> 01:32:20,240 Speaker 1: you were a child shift, you were still going in 1797 01:32:20,280 --> 01:32:23,000 Speaker 1: at eleven o'clock those knocks, so you didn't even get 1798 01:32:23,000 --> 01:32:26,120 Speaker 1: a full day off with your family. The strike policy 1799 01:32:26,280 --> 01:32:29,559 Speaker 1: is insane. On the fourth time that you had an 1800 01:32:29,560 --> 01:32:31,880 Speaker 1: emergency that you couldn't give twenty four hours notice you 1801 01:32:31,920 --> 01:32:34,080 Speaker 1: didn't have a day to take, you'd be fired. They 1802 01:32:34,080 --> 01:32:35,960 Speaker 1: didn't care if you wrecked on the way to the mindset, 1803 01:32:36,320 --> 01:32:38,320 Speaker 1: they didn't care if your spouse had gone into labor. 1804 01:32:38,479 --> 01:32:40,360 Speaker 1: They didn't care if your spouse to set a heart attack, 1805 01:32:40,640 --> 01:32:42,600 Speaker 1: that you would had a stroke. If you were not 1806 01:32:42,640 --> 01:32:44,240 Speaker 1: at work and did not give notice, you would be 1807 01:32:44,280 --> 01:32:48,120 Speaker 1: penalized and then fired for it. That is completely inhumane, 1808 01:32:48,240 --> 01:32:51,960 Speaker 1: and we said we'd had enough after five years of 1809 01:32:52,000 --> 01:32:56,120 Speaker 1: living that way. We said no, we were just fighting 1810 01:32:56,200 --> 01:32:58,640 Speaker 1: for what we lost. So That's what a lot of 1811 01:32:58,640 --> 01:33:02,120 Speaker 1: people don't understand, is that we're not even asking for more, 1812 01:33:02,240 --> 01:33:06,320 Speaker 1: We're trying to get back what we had five years ago. Yes, yeah, 1813 01:33:06,400 --> 01:33:09,639 Speaker 1: I think that's such a critical point, you know, Hayden, 1814 01:33:09,680 --> 01:33:12,800 Speaker 1: help us understand what has the company done during this year? 1815 01:33:12,880 --> 01:33:16,120 Speaker 1: Have they brought in scab labor? Is there any movement 1816 01:33:16,240 --> 01:33:19,160 Speaker 1: in terms of potential contract negotiations and a settlement of 1817 01:33:19,200 --> 01:33:24,360 Speaker 1: this strike. Yes, they've brought in scabs. They actually started 1818 01:33:24,360 --> 01:33:28,400 Speaker 1: bringing contractors and scabs prior to the struck. They also 1819 01:33:28,520 --> 01:33:33,040 Speaker 1: had our union members stockpiled Cole prior to the struck, 1820 01:33:33,360 --> 01:33:36,000 Speaker 1: So that's how they maintained there at the beginning, the 1821 01:33:36,040 --> 01:33:38,880 Speaker 1: appearance that they were still running, well, it is because 1822 01:33:38,920 --> 01:33:41,639 Speaker 1: that was stockpiled by union members before we went out 1823 01:33:41,640 --> 01:33:44,639 Speaker 1: on strict because the company they weren't going to negotiate. 1824 01:33:44,640 --> 01:33:46,679 Speaker 1: They knew they weren't going to offer a good contract. 1825 01:33:47,720 --> 01:33:51,080 Speaker 1: Since the strike began, we've been faced with numerous court 1826 01:33:51,120 --> 01:33:54,160 Speaker 1: injunctions seeking to limit our freedom of speech and assembly 1827 01:33:54,840 --> 01:33:57,040 Speaker 1: to the point and back in November, we were actually 1828 01:33:57,080 --> 01:33:59,920 Speaker 1: issued a temporary restraining order which barred us from being 1829 01:34:00,000 --> 01:34:03,160 Speaker 1: within three hundred yards of warrior about property and that's 1830 01:34:03,200 --> 01:34:06,599 Speaker 1: not guys people that have done anything wrong. That wasn't 1831 01:34:06,680 --> 01:34:11,400 Speaker 1: specific people. That was a blanket order against all union members, 1832 01:34:11,439 --> 01:34:15,320 Speaker 1: all union affiliate and all auxiliary members and anyone that 1833 01:34:15,320 --> 01:34:18,640 Speaker 1: would collaborate with us. So even for example, I know 1834 01:34:18,720 --> 01:34:21,040 Speaker 1: other unions we talked, if they would have tried to 1835 01:34:21,080 --> 01:34:22,760 Speaker 1: hold a picket for us, they could have also been 1836 01:34:22,800 --> 01:34:26,200 Speaker 1: held a contempt for court. Blatant violations of your person 1837 01:34:26,240 --> 01:34:29,599 Speaker 1: in their rights, over and over again is what we've seen. 1838 01:34:29,840 --> 01:34:34,599 Speaker 1: We've had numerous vehicular assaults on members of the union 1839 01:34:35,360 --> 01:34:37,839 Speaker 1: with scavs and the companies running into them with their vehicles, 1840 01:34:38,120 --> 01:34:42,000 Speaker 1: with police there. They have done nothing except asking scavs 1841 01:34:42,040 --> 01:34:44,599 Speaker 1: into the mines. I know that they've tried to hire 1842 01:34:44,600 --> 01:34:48,080 Speaker 1: and bring down scavs from Kentucky, Pennsylvania and southern Ohio. 1843 01:34:48,479 --> 01:34:50,920 Speaker 1: They have billboards up in those areas trying to lure 1844 01:34:51,000 --> 01:34:55,400 Speaker 1: people here without telling them. Because again I care about 1845 01:34:55,479 --> 01:34:58,519 Speaker 1: all workers, they're not making it clear to them that 1846 01:34:58,560 --> 01:35:01,720 Speaker 1: on an unfair labor practice is strike. They're legally not 1847 01:35:01,840 --> 01:35:06,439 Speaker 1: allowed to hire permanent replacement employees. So they're to lord 1848 01:35:06,520 --> 01:35:09,720 Speaker 1: people to take Albabian's jobs. Number one, but number two, 1849 01:35:10,200 --> 01:35:12,120 Speaker 1: they're bringing them down here in the hopes of finding 1850 01:35:12,160 --> 01:35:17,920 Speaker 1: this job that legally is a temporary job. Wow, so 1851 01:35:17,960 --> 01:35:20,160 Speaker 1: they're being unfair not only to you all, but to 1852 01:35:20,320 --> 01:35:22,519 Speaker 1: even these workers that they're trying to lure down. You know, 1853 01:35:22,520 --> 01:35:24,240 Speaker 1: there was something else that we saw here. Let's go 1854 01:35:24,240 --> 01:35:26,720 Speaker 1: put and and put that a second element up on 1855 01:35:26,760 --> 01:35:29,840 Speaker 1: the screen from the World Socialist website that there was 1856 01:35:29,880 --> 01:35:33,519 Speaker 1: a gas explosion at a pipeline. Warri Matt is trying 1857 01:35:33,520 --> 01:35:36,519 Speaker 1: to frame you all as having something to do with 1858 01:35:36,600 --> 01:35:39,479 Speaker 1: this gas line explosive explosion. So not only have you 1859 01:35:39,560 --> 01:35:43,679 Speaker 1: been subject to violence on the picket line being struck 1860 01:35:43,720 --> 01:35:46,960 Speaker 1: by vehicles, but now they're trying to say, with no evidence, 1861 01:35:47,120 --> 01:35:49,599 Speaker 1: that you all had something to do with this gas 1862 01:35:49,600 --> 01:35:54,360 Speaker 1: line explosion. Yes, first of all, I want to make 1863 01:35:54,360 --> 01:35:57,120 Speaker 1: it very clear that that is not even a Warrior 1864 01:35:57,160 --> 01:36:01,920 Speaker 1: Matt gas line. That's the Quarrimate gas line number one, 1865 01:36:02,160 --> 01:36:04,599 Speaker 1: number two. Warrior Matt owns. I think it's fourteen percent 1866 01:36:04,680 --> 01:36:07,760 Speaker 1: stock in that company, So they don't even own a 1867 01:36:07,800 --> 01:36:12,040 Speaker 1: massive amount of stock there. And negotiations before we had 1868 01:36:12,080 --> 01:36:16,040 Speaker 1: been told were going better. So why would we have 1869 01:36:16,520 --> 01:36:21,400 Speaker 1: when they're telling people that they're negotiating that So why 1870 01:36:21,400 --> 01:36:25,000 Speaker 1: would we go and do something that would hurt our negotiations. 1871 01:36:25,479 --> 01:36:27,639 Speaker 1: It seems to me like that was either an accident 1872 01:36:28,080 --> 01:36:30,240 Speaker 1: in general, because we've had several storms in the area 1873 01:36:31,320 --> 01:36:33,719 Speaker 1: that could have been caused by kids not knowing any better, 1874 01:36:33,760 --> 01:36:36,519 Speaker 1: shooting off tener right, something just goofing off. Or it 1875 01:36:36,560 --> 01:36:38,800 Speaker 1: could have been a Scabbard company employee that is scared 1876 01:36:38,840 --> 01:36:41,040 Speaker 1: the union's about to come back, that wanted to cause 1877 01:36:41,200 --> 01:36:45,160 Speaker 1: this drama and outreach, right, So I can assure you 1878 01:36:45,200 --> 01:36:48,400 Speaker 1: that we had nothing to do with that because that 1879 01:36:48,439 --> 01:36:52,639 Speaker 1: has no benefit to us whatsoever. Wow, It's just amazing 1880 01:36:52,640 --> 01:36:54,640 Speaker 1: to me every time we talk about how little you 1881 01:36:54,640 --> 01:36:56,680 Speaker 1: guys are asking for and how much they're willing to 1882 01:36:56,680 --> 01:36:59,080 Speaker 1: fight on it. So we're very proud to have supported 1883 01:36:59,680 --> 01:37:03,000 Speaker 1: this effort in the Christmas time. We continue to do 1884 01:37:03,080 --> 01:37:05,519 Speaker 1: so we're going to encourage everybody to go and support 1885 01:37:05,560 --> 01:37:07,240 Speaker 1: as well with links down in the description and to 1886 01:37:07,320 --> 01:37:09,760 Speaker 1: the upcoming April sixth event. Thank you so much for 1887 01:37:09,840 --> 01:37:11,640 Speaker 1: joining us, Hayden and taking time out of your day. 1888 01:37:11,720 --> 01:37:13,519 Speaker 1: Know you're on a tie schedule. Thank you very much. 1889 01:37:14,160 --> 01:37:15,960 Speaker 1: Thank you so much, And just real quick, if I 1890 01:37:15,960 --> 01:37:17,840 Speaker 1: would like to kind of get a shout out to 1891 01:37:17,880 --> 01:37:22,040 Speaker 1: our WD issue, who might get their union election count today. 1892 01:37:22,280 --> 01:37:24,320 Speaker 1: So that's why I'm actually wearing red today instead of 1893 01:37:24,320 --> 01:37:27,519 Speaker 1: our normal CAMO is in solidarity with him, so they 1894 01:37:27,600 --> 01:37:29,920 Speaker 1: might actually be holding a press conference later today. If 1895 01:37:29,920 --> 01:37:31,720 Speaker 1: you want to keep an eye out for it. Yeah, 1896 01:37:31,760 --> 01:37:34,720 Speaker 1: we will look for that. Keep us updated, Hayden, you know, 1897 01:37:34,800 --> 01:37:37,400 Speaker 1: send our love and solidarity to everyone there, and if 1898 01:37:37,400 --> 01:37:39,360 Speaker 1: there's ever anything we can do to help, just let 1899 01:37:39,439 --> 01:37:42,360 Speaker 1: us know, please do. Thank you very much, absolutely great 1900 01:37:42,360 --> 01:37:44,240 Speaker 1: to see you. Thank you so much. Thank you guys 1901 01:37:44,280 --> 01:37:46,680 Speaker 1: so much for watching. We really appreciate it. As we 1902 01:37:46,680 --> 01:37:49,200 Speaker 1: said during our lot during our CNN block, look, we've 1903 01:37:49,240 --> 01:37:52,320 Speaker 1: really come to realize that we have to build a 1904 01:37:52,400 --> 01:37:55,360 Speaker 1: new ecosystem. The current one is crumbling. We know it's 1905 01:37:55,400 --> 01:37:57,439 Speaker 1: on his last legs. They're going to lash out in 1906 01:37:57,479 --> 01:37:59,800 Speaker 1: every way they possibly can. The only way that we 1907 01:37:59,840 --> 01:38:01,880 Speaker 1: can do it is to not make the mistakes that 1908 01:38:01,920 --> 01:38:04,679 Speaker 1: they did. We rely on you instead of the big 1909 01:38:04,720 --> 01:38:07,080 Speaker 1: corporations and others. So thank you all so much for 1910 01:38:07,080 --> 01:38:09,320 Speaker 1: your support. You don't even know how much it means. 1911 01:38:09,360 --> 01:38:11,760 Speaker 1: And more importantly, we're using your hard earned money to 1912 01:38:11,920 --> 01:38:14,519 Speaker 1: build out the ecosystem and to make it so we 1913 01:38:14,560 --> 01:38:16,840 Speaker 1: can hire and build as much as possible for the 1914 01:38:16,920 --> 01:38:19,519 Speaker 1: upcoming mid terms of the presidential election. Their model is 1915 01:38:19,560 --> 01:38:22,480 Speaker 1: what it is. It's never going to change. Thank goodness. 1916 01:38:22,600 --> 01:38:25,919 Speaker 1: Trust in them is at record lows. Their ratings Outside 1917 01:38:25,920 --> 01:38:28,559 Speaker 1: of Ukraine, war coverage has been good for their ratings, 1918 01:38:28,640 --> 01:38:31,679 Speaker 1: but they're bottoming out. They don't have Trump right now 1919 01:38:31,720 --> 01:38:35,839 Speaker 1: to rescue them, and they obviously know that their model 1920 01:38:36,040 --> 01:38:38,760 Speaker 1: is in jeopardy, know it. That's why they're launching these 1921 01:38:38,800 --> 01:38:41,360 Speaker 1: like flailing streaming attempts because they know they have to 1922 01:38:41,439 --> 01:38:43,760 Speaker 1: do something. So they are never going to change, They're 1923 01:38:43,800 --> 01:38:45,599 Speaker 1: never going to get better. The best we can do 1924 01:38:45,800 --> 01:38:48,440 Speaker 1: is build something that is going to be an alternative, 1925 01:38:48,680 --> 01:38:50,400 Speaker 1: that is honest, that is not going to just rip 1926 01:38:50,439 --> 01:38:52,360 Speaker 1: this country apart the way that they do. So thank 1927 01:38:52,400 --> 01:38:55,240 Speaker 1: you for being part of that. We are so incredibly grateful. 1928 01:38:55,320 --> 01:38:56,920 Speaker 1: Have a wonderful weekend, and we will see you back 1929 01:38:56,960 --> 01:39:07,560 Speaker 1: here on Monday. See you Monday,