1 00:00:00,320 --> 00:00:03,400 Speaker 1: Cable news is ripping us apart, dividing the nation, making 2 00:00:03,480 --> 00:00:05,920 Speaker 1: it impossible to function as a society and to know 3 00:00:05,960 --> 00:00:08,720 Speaker 1: what is true and what is false. The good news 4 00:00:08,800 --> 00:00:10,840 Speaker 1: is that they're failing and they know it. That is 5 00:00:10,840 --> 00:00:14,840 Speaker 1: why we're building something new. Be part of creating a new, better, healthier, 6 00:00:14,880 --> 00:00:17,960 Speaker 1: and more trustworthy mainstream by becoming a Breaking Points Premium 7 00:00:17,960 --> 00:00:21,520 Speaker 1: member today at breakingpoints dot com. Your hard earned money 8 00:00:21,560 --> 00:00:23,400 Speaker 1: is going to help us build for the midterms and 9 00:00:23,440 --> 00:00:27,400 Speaker 1: the upcoming presidential election so we can provide unparalleled coverage 10 00:00:27,400 --> 00:00:28,640 Speaker 1: of what is sure to be one of the most 11 00:00:28,640 --> 00:00:32,320 Speaker 1: pivotal moments in American history. So what are you waiting for? 12 00:00:32,520 --> 00:00:54,200 Speaker 1: Go to Breakingpoints dot com to help us out. Good morning, everybody, 13 00:00:54,280 --> 00:00:56,520 Speaker 1: Happy Tuesday. We have an amazing show for everybody today. 14 00:00:56,560 --> 00:00:58,200 Speaker 1: What do we have, chrissal Indeed, we do lots of 15 00:00:58,200 --> 00:01:01,120 Speaker 1: interesting stuff happening this morning. So we have some new 16 00:01:01,160 --> 00:01:06,880 Speaker 1: developments in the Elon versus Twitter saga, some more indications 17 00:01:06,920 --> 00:01:09,320 Speaker 1: that this deal may not ultimately work out or maybe 18 00:01:09,360 --> 00:01:11,200 Speaker 1: headed to a lawsuit. I don't know. We'll talk about 19 00:01:11,200 --> 00:01:14,400 Speaker 1: all of that. Also, some new revelations about exactly when 20 00:01:14,440 --> 00:01:18,320 Speaker 1: the administration knew that the baby formula crisis was a thing, 21 00:01:18,480 --> 00:01:21,679 Speaker 1: how long they waited to act, and some new data 22 00:01:21,760 --> 00:01:24,280 Speaker 1: about just how devastating it's been for families to have 23 00:01:24,360 --> 00:01:26,399 Speaker 1: that child tax credit polled. You guys will remember that 24 00:01:26,480 --> 00:01:29,000 Speaker 1: was pasted as part of the COVID relief plan, but 25 00:01:29,600 --> 00:01:33,200 Speaker 1: democratics only put it in place for a year because 26 00:01:33,240 --> 00:01:35,319 Speaker 1: they didn't wanted to sort of play games with the budget. 27 00:01:35,360 --> 00:01:37,360 Speaker 1: They thought it'd be a good midterm issue. They thought 28 00:01:37,400 --> 00:01:39,600 Speaker 1: for sure we'd be able to reauthorize that. Well, that 29 00:01:39,640 --> 00:01:43,000 Speaker 1: didn't happen, and it's been absolutely devastating for families. We 30 00:01:43,040 --> 00:01:46,640 Speaker 1: also have some new numbers. This relates to everyone who 31 00:01:47,000 --> 00:01:48,960 Speaker 1: lives in a home or would like to live in 32 00:01:49,040 --> 00:01:53,760 Speaker 1: a home. Rents at trailer parks are skyrocketing. That is 33 00:01:53,840 --> 00:01:55,920 Speaker 1: pushing a lot of people out of some of our 34 00:01:55,920 --> 00:01:58,760 Speaker 1: most affordable housing stocks. So it just shows you how 35 00:01:59,080 --> 00:02:02,360 Speaker 1: across the entire higher spectrum of available housing, people are 36 00:02:02,360 --> 00:02:05,480 Speaker 1: getting squeezed and ultimately pushed out onto the streets. We 37 00:02:05,520 --> 00:02:08,520 Speaker 1: also have some new details of retaliation from Starbucks. They 38 00:02:08,520 --> 00:02:12,840 Speaker 1: are closing a store that just recently unionized. The union 39 00:02:12,880 --> 00:02:15,880 Speaker 1: itself has something to say about that, and we have 40 00:02:16,040 --> 00:02:19,840 Speaker 1: to tell you about WAPO in disarray. We got a 41 00:02:19,880 --> 00:02:21,800 Speaker 1: couple of stories here. Sager's going to go into in 42 00:02:21,840 --> 00:02:25,840 Speaker 1: his monologue, the whole saga with them suspending David Weigel 43 00:02:26,040 --> 00:02:28,760 Speaker 1: over the retweet of a dumb joke. He didn't even 44 00:02:28,800 --> 00:02:31,359 Speaker 1: write the joke himself. Right, this is the dumbest thing 45 00:02:31,400 --> 00:02:34,880 Speaker 1: I've ever had to investigate. Go deep on. I did 46 00:02:34,919 --> 00:02:38,600 Speaker 1: it all for you, for everybody. Now it'll be enjoyable. 47 00:02:38,600 --> 00:02:41,280 Speaker 1: I'm looking forward to It's just it's complete insanity. But 48 00:02:41,560 --> 00:02:44,160 Speaker 1: there's another Washington Post story too that we didn't want 49 00:02:44,200 --> 00:02:47,600 Speaker 1: to let escape your notice or our notice, which is, 50 00:02:48,000 --> 00:02:50,320 Speaker 1: you know, the whole Amber heard Johnny deptrial. This all 51 00:02:50,360 --> 00:02:54,639 Speaker 1: revolved around this op ed, was that the Washington Post ran, 52 00:02:55,160 --> 00:02:58,640 Speaker 1: which a jury has now found to be defamatory of 53 00:02:58,800 --> 00:03:02,320 Speaker 1: Johnny Depp and the Washing Post has nothing to say about, 54 00:03:02,400 --> 00:03:05,240 Speaker 1: so talk about that. We also have David dan in studio, 55 00:03:05,360 --> 00:03:07,160 Speaker 1: very lucky to have him on our side of the 56 00:03:07,160 --> 00:03:11,079 Speaker 1: country today. Breaking down some moves with using the Defense 57 00:03:11,120 --> 00:03:15,200 Speaker 1: Production Act and lifting tariffs on solar panels is actually 58 00:03:15,240 --> 00:03:17,519 Speaker 1: very controversial and kind of a left right thing going 59 00:03:17,560 --> 00:03:20,240 Speaker 1: on there. But we wanted to start with Elon Musk. Yeah, 60 00:03:20,240 --> 00:03:22,800 Speaker 1: that's right, okay, So Elon, it does not look like 61 00:03:22,880 --> 00:03:24,760 Speaker 1: this may happen at this point, and there's a lot 62 00:03:24,800 --> 00:03:26,959 Speaker 1: of speculation exactly as to why. So let's go ahead 63 00:03:26,960 --> 00:03:28,640 Speaker 1: and put this up there on the screen, which is 64 00:03:28,680 --> 00:03:31,239 Speaker 1: Elon is now asserting his right to not buy Twitter 65 00:03:31,560 --> 00:03:33,760 Speaker 1: if he would like to. Elon Musk quote has a 66 00:03:33,840 --> 00:03:36,520 Speaker 1: right not to consummate his acquisition of Twitter and a 67 00:03:36,600 --> 00:03:39,840 Speaker 1: quote right to terminate the merger agreement, according to a 68 00:03:39,920 --> 00:03:43,920 Speaker 1: letter from his lawyers sent to Twitter's general counsel Vijayagade 69 00:03:44,200 --> 00:03:48,400 Speaker 1: on Monday morning, and this was filed actually within the SEC. 70 00:03:48,560 --> 00:03:51,840 Speaker 1: So the core of the allegation is that Musk believes 71 00:03:51,840 --> 00:03:55,240 Speaker 1: that Twitter misled him, misled its investors, Wall Street and 72 00:03:55,320 --> 00:03:58,440 Speaker 1: others as to whether more than five percent of its 73 00:03:58,520 --> 00:04:01,680 Speaker 1: accounts were spam or fake or not. While Elon is 74 00:04:01,680 --> 00:04:04,240 Speaker 1: now contending that it is very likely that it is 75 00:04:04,400 --> 00:04:07,680 Speaker 1: more than five percent. However, Twitter is saying in its 76 00:04:07,720 --> 00:04:11,000 Speaker 1: latest filings that they still continue to estimate based on 77 00:04:11,040 --> 00:04:15,400 Speaker 1: their methodology of a five percent fake bots or account number. 78 00:04:15,440 --> 00:04:18,960 Speaker 1: Now here's the thing, it's all complete technicality. He went 79 00:04:19,000 --> 00:04:21,120 Speaker 1: over in the past, parag Agar Walla, and he did 80 00:04:21,120 --> 00:04:25,320 Speaker 1: that thirty five tweet storm about spam. I think what's 81 00:04:25,520 --> 00:04:29,440 Speaker 1: most likely happening here is that, look, Elon was relying 82 00:04:29,560 --> 00:04:31,760 Speaker 1: on the vast majority of his net worth, which was 83 00:04:31,800 --> 00:04:34,680 Speaker 1: tied up in Tesla stock. And the fact of the 84 00:04:34,680 --> 00:04:37,320 Speaker 1: matter is that the Tesla stock is worth a lot 85 00:04:37,440 --> 00:04:40,159 Speaker 1: less today than it was at the time whenever he 86 00:04:40,240 --> 00:04:42,920 Speaker 1: went into this deal. And it's not just Tesla, it's 87 00:04:43,120 --> 00:04:46,960 Speaker 1: the entire stock market is down some fifteen percent. So 88 00:04:47,120 --> 00:04:49,679 Speaker 1: as a result, he just simply has a lot less 89 00:04:49,839 --> 00:04:53,440 Speaker 1: underlying asset to borrow cash on top of And even 90 00:04:53,480 --> 00:04:56,960 Speaker 1: though he has gone two different Silicon Valley investors and 91 00:04:57,000 --> 00:04:59,320 Speaker 1: others who are agreeing to put one hundred million here, 92 00:04:59,320 --> 00:05:01,760 Speaker 1: four hundred million here, he's still paid almost forty four 93 00:05:01,839 --> 00:05:04,080 Speaker 1: billion dollars for this thing. So there's two things that 94 00:05:04,120 --> 00:05:06,960 Speaker 1: could be happening here. Number One, he actually wants out 95 00:05:07,000 --> 00:05:10,080 Speaker 1: completely because it could be putting his Tesla stock in jeopardy, 96 00:05:10,120 --> 00:05:12,839 Speaker 1: and he just simply doesn't have that much access to capital, 97 00:05:13,000 --> 00:05:15,760 Speaker 1: or he worries that given the recession which he believes 98 00:05:15,800 --> 00:05:18,320 Speaker 1: is coming, because we know that he's cutting ten percent 99 00:05:18,560 --> 00:05:20,919 Speaker 1: of Tesla's staff based upon what he thinks is a 100 00:05:20,960 --> 00:05:24,400 Speaker 1: possible turn in the economy that it's not going to 101 00:05:24,400 --> 00:05:28,160 Speaker 1: be possible to make up the ambitious revenue targets. But regardless, Crystal, 102 00:05:28,920 --> 00:05:32,000 Speaker 1: the deal is in trouble right now. Yeah, as currently constituted. Yeah, 103 00:05:32,040 --> 00:05:34,480 Speaker 1: I mean there's two possibilities. One he's using this is 104 00:05:34,560 --> 00:05:37,440 Speaker 1: negotiating leverage, because I mean, there's just no doubt that 105 00:05:37,520 --> 00:05:40,839 Speaker 1: he dramatically overpaid for the asset. At this point of 106 00:05:40,839 --> 00:05:43,080 Speaker 1: his offer is fifty four dollars and twenty cents per 107 00:05:43,080 --> 00:05:46,719 Speaker 1: share for Twitter. Well, on Monday, Twitter shares were trading 108 00:05:46,760 --> 00:05:51,680 Speaker 1: down below thirty nine dollars. So one possibility here is 109 00:05:51,760 --> 00:05:53,960 Speaker 1: he's trying to use this as negotiating lever to go 110 00:05:54,040 --> 00:05:56,400 Speaker 1: back to the table and get a better deal. The 111 00:05:56,480 --> 00:05:58,640 Speaker 1: other possibility, which you lay on, which I at this 112 00:05:58,720 --> 00:06:00,680 Speaker 1: point think is more likely, is that he wants out 113 00:06:00,680 --> 00:06:03,160 Speaker 1: of this thing entirely, because not only is he overpaying 114 00:06:03,279 --> 00:06:05,280 Speaker 1: on the one side for Twitter given where their share 115 00:06:05,279 --> 00:06:08,200 Speaker 1: price is now, but he also has much much less 116 00:06:08,200 --> 00:06:11,160 Speaker 1: cash available to him and financing available to him when 117 00:06:11,200 --> 00:06:14,560 Speaker 1: he originally was contemplating this deal. As you said, I 118 00:06:14,560 --> 00:06:17,880 Speaker 1: mean Tesla, so they went on this massive hiring spree, 119 00:06:18,000 --> 00:06:21,160 Speaker 1: adding forty five percent to their workforce. Now he's slashing 120 00:06:21,200 --> 00:06:24,680 Speaker 1: that back a year later ten percent, So he clearly 121 00:06:24,760 --> 00:06:27,800 Speaker 1: is not in the financial position he was previously. Not 122 00:06:27,920 --> 00:06:30,920 Speaker 1: to mention, I mean, Elon has a long track record 123 00:06:31,040 --> 00:06:34,799 Speaker 1: which people spend, like have entire websites dedicated to tracking, 124 00:06:35,320 --> 00:06:39,680 Speaker 1: of making grandiose promises and then completely failing to deliver. 125 00:06:40,040 --> 00:06:42,000 Speaker 1: I mean, you know, is not to take anything away 126 00:06:42,000 --> 00:06:44,840 Speaker 1: from him, SpaceX Tesla, these are real things, and they're 127 00:06:44,880 --> 00:06:47,760 Speaker 1: real innovations. But you know, he's remember when he was 128 00:06:47,800 --> 00:06:50,080 Speaker 1: going to get those boys that were trapped in the cave. 129 00:06:50,520 --> 00:06:52,960 Speaker 1: I mean, there's all kinds of things like this where 130 00:06:53,000 --> 00:06:56,000 Speaker 1: he says something big and wild that's gonna happen. Brain 131 00:06:56,120 --> 00:06:59,680 Speaker 1: implants was another one, and then ultimately it all sort 132 00:06:59,720 --> 00:07:02,440 Speaker 1: of fall apart. So I think one thing we can 133 00:07:02,480 --> 00:07:05,280 Speaker 1: say for sure here is that it is looking much 134 00:07:05,400 --> 00:07:07,560 Speaker 1: less likely that Elon Musk is going to be the 135 00:07:07,600 --> 00:07:10,440 Speaker 1: great free speech savior that some people were hoping that 136 00:07:10,520 --> 00:07:12,640 Speaker 1: he was ultimately going to be. I think any time 137 00:07:12,640 --> 00:07:14,640 Speaker 1: you're relying on a billionaire to be your savior in 138 00:07:14,680 --> 00:07:17,280 Speaker 1: any way, in any realm, it's probably not a great idea. 139 00:07:17,880 --> 00:07:21,400 Speaker 1: And the reason why he's trying to, you know, make 140 00:07:21,400 --> 00:07:24,360 Speaker 1: this argument about oh, you misrepresented how many bots are 141 00:07:24,400 --> 00:07:27,760 Speaker 1: on the platform is because he can't just walk away 142 00:07:27,800 --> 00:07:30,320 Speaker 1: from this deal at this point. He would face a 143 00:07:30,480 --> 00:07:34,480 Speaker 1: billion dollar breakup fee and also possible lawsuits if he 144 00:07:34,560 --> 00:07:37,760 Speaker 1: opts out, And it looks increasingly likely that this thing 145 00:07:37,880 --> 00:07:40,640 Speaker 1: could ultimately be headed to court. Yeah, I think it's 146 00:07:40,760 --> 00:07:43,120 Speaker 1: very likely. And the problem for Musk is that the 147 00:07:43,160 --> 00:07:45,800 Speaker 1: deal that he signed per Matt Levine, who is a 148 00:07:45,800 --> 00:07:48,600 Speaker 1: really good columnist over at Bloomberg, and what he writes 149 00:07:48,680 --> 00:07:51,400 Speaker 1: up here is that to a non lawyer, this may 150 00:07:51,440 --> 00:07:54,160 Speaker 1: look like a good pretext, but it's not for three reasons. 151 00:07:54,400 --> 00:07:58,200 Speaker 1: Number One, Musk doesn't actually have concrete evidence that there 152 00:07:58,320 --> 00:08:02,559 Speaker 1: is any spambots or that Twitter is overestimating it. Given 153 00:08:02,600 --> 00:08:05,240 Speaker 1: that at the end of the day, the methodology is 154 00:08:05,280 --> 00:08:08,040 Speaker 1: anybody's game, there's no way to really argue it. Two, 155 00:08:08,520 --> 00:08:11,120 Speaker 1: even if Twitter's estimates are wrong, Musk could not get 156 00:08:11,160 --> 00:08:13,600 Speaker 1: out of the merger agreement unless the error was likely 157 00:08:13,640 --> 00:08:17,520 Speaker 1: to have a quote material adverse effect on Twitter's business, 158 00:08:17,560 --> 00:08:20,920 Speaker 1: which it's very difficult to prove. And three, Musk has 159 00:08:20,960 --> 00:08:23,600 Speaker 1: been talking about Twitter's brought problem forever. In fact, he 160 00:08:23,640 --> 00:08:26,320 Speaker 1: originally said he wanted to buy Twitter in order to 161 00:08:26,400 --> 00:08:29,600 Speaker 1: fix the bot problem. So if no one could possibly 162 00:08:29,600 --> 00:08:31,760 Speaker 1: believe him when he says he wants to walk away 163 00:08:31,760 --> 00:08:33,960 Speaker 1: from the deal because he just discovered that Twitter has 164 00:08:34,000 --> 00:08:36,360 Speaker 1: a bot problem, that's exactly point. The point that he's 165 00:08:36,360 --> 00:08:41,080 Speaker 1: making is that Musk's lawyers are stemming the argumentation is 166 00:08:41,120 --> 00:08:45,079 Speaker 1: all stemming from Musk's attack on the bot thing, which 167 00:08:45,160 --> 00:08:48,000 Speaker 1: may sound like it makes sense, but in a court 168 00:08:48,040 --> 00:08:51,319 Speaker 1: of law would be difficult to do, difficult to prove, 169 00:08:51,360 --> 00:08:53,960 Speaker 1: and even harder for him. What you're talking about with 170 00:08:53,960 --> 00:08:57,760 Speaker 1: that billion dollar breakup fee. That's only if everybody agrees 171 00:08:57,800 --> 00:09:00,280 Speaker 1: to walk away from the deal. Twitter could actually sue 172 00:09:00,360 --> 00:09:02,400 Speaker 1: him and force him to buy it. Very like, I mean, 173 00:09:02,559 --> 00:09:05,880 Speaker 1: it's very within the realm of possibility, especially given that 174 00:09:05,920 --> 00:09:08,920 Speaker 1: their share price is down. They've at this point been 175 00:09:08,960 --> 00:09:11,880 Speaker 1: through what like eight weeks almost of complete turmoil. So 176 00:09:12,400 --> 00:09:14,600 Speaker 1: at this point their company is on the rocks. They 177 00:09:14,600 --> 00:09:17,160 Speaker 1: have people who are departing the company, so they've been 178 00:09:17,200 --> 00:09:20,360 Speaker 1: through complete chaos, and you know, I'm sure their own 179 00:09:20,440 --> 00:09:23,800 Speaker 1: workforce isn't a lot of consternation. They quite literally could 180 00:09:23,880 --> 00:09:25,800 Speaker 1: force him to buy it, or they could at least 181 00:09:25,840 --> 00:09:28,319 Speaker 1: try regardless, it could be headed to the court, and 182 00:09:28,360 --> 00:09:31,800 Speaker 1: it could be there for a long, long period of time. 183 00:09:31,840 --> 00:09:35,319 Speaker 1: But I don't see Twitter actually having accepted and signed 184 00:09:35,320 --> 00:09:37,560 Speaker 1: the deal just walking away from it with nothing, even 185 00:09:37,640 --> 00:09:40,280 Speaker 1: just one billion. It just seems unlikely. Yeah, even how much. 186 00:09:40,280 --> 00:09:42,280 Speaker 1: At this point, this looks like a great deal to 187 00:09:42,360 --> 00:09:45,040 Speaker 1: them from a financial perspective, way better than where their 188 00:09:45,040 --> 00:09:47,319 Speaker 1: share price is at. Yeah, exactly, And so I think 189 00:09:47,320 --> 00:09:49,760 Speaker 1: when you put that together. Also, here's another one that 190 00:09:49,800 --> 00:09:51,400 Speaker 1: Elon has been saying. Let's put this up there on 191 00:09:51,440 --> 00:09:55,960 Speaker 1: the screen. This YouTuber meet Kevin. He put this out. 192 00:09:56,000 --> 00:09:58,160 Speaker 1: Some say Elon has to buy Twitter as is with 193 00:09:58,240 --> 00:10:00,440 Speaker 1: Box because he waved his right to do deal diligence. 194 00:10:00,679 --> 00:10:02,839 Speaker 1: He points to his section ten oh five B. Twitter 195 00:10:02,880 --> 00:10:06,240 Speaker 1: can be liable for omissions or misleading material facts. Waving 196 00:10:06,320 --> 00:10:08,800 Speaker 1: due diligence does not mean you have and to accept 197 00:10:08,880 --> 00:10:12,680 Speaker 1: a fraudulent disclosure, which is understated bots. He replied to 198 00:10:12,720 --> 00:10:17,000 Speaker 1: that and just said correct. So right, that's Elon again. 199 00:10:17,160 --> 00:10:20,680 Speaker 1: The side of the story. Twitter has a reaction to 200 00:10:20,720 --> 00:10:22,600 Speaker 1: all of this, let's put this up there, which is 201 00:10:22,640 --> 00:10:25,880 Speaker 1: that they say Twitter has and will continue to cooperatively 202 00:10:25,920 --> 00:10:29,920 Speaker 1: share information with mister Musk to consummate the transaction in 203 00:10:30,000 --> 00:10:33,000 Speaker 1: accordance with the terms of the merger agreement. We believe 204 00:10:33,040 --> 00:10:35,600 Speaker 1: this agreement is in the best interest of all shareholders. 205 00:10:35,840 --> 00:10:38,960 Speaker 1: We intend to close the transaction and enforce the merger 206 00:10:39,040 --> 00:10:42,120 Speaker 1: agreement at the agreed price and terms. So really, I 207 00:10:42,120 --> 00:10:44,920 Speaker 1: think just putting things what I alluded to, which is 208 00:10:44,920 --> 00:10:47,800 Speaker 1: that given how much Elon agreed to pay for it, 209 00:10:48,000 --> 00:10:50,360 Speaker 1: they are going to try and get every scrap and 210 00:10:50,440 --> 00:10:53,280 Speaker 1: every penny that they were promised, and Musk could be 211 00:10:53,440 --> 00:10:55,800 Speaker 1: in a precarious situation. He did at the end of 212 00:10:55,800 --> 00:10:58,280 Speaker 1: the day sign the deal. Yes, he has good lawyers, 213 00:10:58,280 --> 00:11:01,560 Speaker 1: but from what I have read, a lot of guys, 214 00:11:01,600 --> 00:11:04,680 Speaker 1: people who are familiar with mergers and acquisitions law and more, 215 00:11:04,760 --> 00:11:07,720 Speaker 1: do not see a way a very easy way out 216 00:11:07,720 --> 00:11:11,360 Speaker 1: for him on this transaction so far, which is look, 217 00:11:11,440 --> 00:11:13,080 Speaker 1: that would be a serious hit to his net worth. 218 00:11:13,200 --> 00:11:15,000 Speaker 1: It could be a problem for Tesla because he might 219 00:11:15,080 --> 00:11:18,240 Speaker 1: be forced to sell a number of stock which would 220 00:11:18,240 --> 00:11:20,880 Speaker 1: then tank his own company SpaceX. He also has a 221 00:11:20,920 --> 00:11:23,120 Speaker 1: private holdings on that, so he might be forced to 222 00:11:23,160 --> 00:11:24,559 Speaker 1: sell something. Like I mean, He'll be fine at the 223 00:11:24,640 --> 00:11:26,480 Speaker 1: end of the day. It definitely has access to the cash, 224 00:11:26,520 --> 00:11:31,000 Speaker 1: but it won't necessarily cause problems. It won't necessarily not 225 00:11:31,160 --> 00:11:33,840 Speaker 1: cause problems. And if he is forced to do it 226 00:11:33,880 --> 00:11:35,319 Speaker 1: and then he has to run it, then he owns 227 00:11:35,320 --> 00:11:38,240 Speaker 1: it too. Well. There is that too, ye. Yeah. And 228 00:11:38,400 --> 00:11:40,800 Speaker 1: of course a person who's watching this with great interest 229 00:11:40,920 --> 00:11:44,400 Speaker 1: is former President Trump. Oh yes, not only reading about it. Yeah, 230 00:11:44,679 --> 00:11:47,240 Speaker 1: he's got He's got kind of interests on both sides 231 00:11:47,240 --> 00:11:49,360 Speaker 1: of this thing. Because, on the one hand, if Elon 232 00:11:49,480 --> 00:11:52,480 Speaker 1: actually takes over Twitter, very likely that Trump is allowed 233 00:11:52,559 --> 00:11:55,680 Speaker 1: back on the platform. Helant has already said all but 234 00:11:55,760 --> 00:11:58,760 Speaker 1: as much. On the other hand, of course, his personal 235 00:11:59,160 --> 00:12:03,520 Speaker 1: investment and finances are wrapped up in truth Social, which 236 00:12:03,679 --> 00:12:07,160 Speaker 1: if he's allowed back on Twitter, that and Elon is 237 00:12:07,160 --> 00:12:09,120 Speaker 1: the head of Twitter and people who are you know, 238 00:12:09,280 --> 00:12:12,199 Speaker 1: in the in the sort of right leaning Trump pro 239 00:12:12,320 --> 00:12:15,800 Speaker 1: Elon muskcamp or comfortable back on Twitter again, that is 240 00:12:15,920 --> 00:12:19,000 Speaker 1: a major hit for his financial interest in terms of 241 00:12:19,040 --> 00:12:21,920 Speaker 1: truth Social. So he's got sort of a balancing act 242 00:12:21,960 --> 00:12:24,720 Speaker 1: here on both sides. My personal guess is that he's 243 00:12:24,760 --> 00:12:27,800 Speaker 1: most interested in his money in his bank account. Last night, 244 00:12:27,840 --> 00:12:31,560 Speaker 1: he tweeted, quote truth is hot, Twitter is not the 245 00:12:31,800 --> 00:12:35,599 Speaker 1: hot capital. He also put hot in quotation, did you 246 00:12:35,640 --> 00:12:38,480 Speaker 1: say he tweeted he truth truth truths are that, which 247 00:12:38,480 --> 00:12:40,360 Speaker 1: is really hard to say. Actually, I do have to 248 00:12:40,400 --> 00:12:42,600 Speaker 1: see someone who's such a good brand like so good 249 00:12:42,600 --> 00:12:45,079 Speaker 1: at branding. He really dropped the ball on the garbage 250 00:12:45,160 --> 00:12:48,960 Speaker 1: name true thing. Also, maybe I'm just a I don't know, 251 00:12:49,080 --> 00:12:51,720 Speaker 1: but doesn't seem weird that you can basically option the 252 00:12:51,840 --> 00:12:55,640 Speaker 1: entire copy the entire functionality of another website, rip it 253 00:12:55,760 --> 00:12:59,560 Speaker 1: almost entirely, and then change the words only slightly from 254 00:12:59,640 --> 00:13:02,600 Speaker 1: tweet from tweet to truth and then just call it different. Ip. 255 00:13:02,800 --> 00:13:05,840 Speaker 1: I look, maybe it should be that way legally, but 256 00:13:06,160 --> 00:13:07,720 Speaker 1: that just doesn't seem right to me that you can 257 00:13:07,760 --> 00:13:09,240 Speaker 1: just straight up I mean, every single one of these 258 00:13:09,280 --> 00:13:12,719 Speaker 1: Twitter alternatives, none of them have actually improved functionality on 259 00:13:12,760 --> 00:13:14,960 Speaker 1: the platform. They just faked it right and put like 260 00:13:15,040 --> 00:13:17,240 Speaker 1: gabbed it or you know, parlared it, which is why 261 00:13:17,280 --> 00:13:19,840 Speaker 1: they're not get it, why they're not successful. Yeah, I mean, 262 00:13:19,920 --> 00:13:24,120 Speaker 1: because ultimately the platforms that have been new and been successful. 263 00:13:24,120 --> 00:13:27,600 Speaker 1: We talk about substack as an example, where they created something, 264 00:13:27,760 --> 00:13:30,160 Speaker 1: you know, brand new in the marketplace that didn't exist, 265 00:13:30,160 --> 00:13:32,640 Speaker 1: that solved a need outside of just their sort of 266 00:13:32,679 --> 00:13:37,080 Speaker 1: like ideological positioning in the free speech space. So in 267 00:13:37,160 --> 00:13:40,200 Speaker 1: any case, it has major implications what happens. Here's why 268 00:13:40,280 --> 00:13:42,200 Speaker 1: we keep covering it. Not only is it like an 269 00:13:42,240 --> 00:13:46,000 Speaker 1: interesting drama and saga one of our world's foremost billionaires, 270 00:13:46,040 --> 00:13:48,679 Speaker 1: but it also has a lot of implications in terms 271 00:13:48,679 --> 00:13:51,480 Speaker 1: of our own politics and how the next presidential election 272 00:13:51,640 --> 00:13:54,360 Speaker 1: is going to play out. For Trump, I continue to 273 00:13:54,400 --> 00:13:57,320 Speaker 1: maintain overall, I think him being off of Twitter has 274 00:13:57,360 --> 00:14:00,600 Speaker 1: been probably good for him. I think it has helped to, 275 00:14:00,880 --> 00:14:03,360 Speaker 1: you know, erase some of the memories of how terrible 276 00:14:03,400 --> 00:14:05,440 Speaker 1: he was. You were the first person to make that point. However, 277 00:14:05,480 --> 00:14:10,000 Speaker 1: I do also think that it has lessened his grip 278 00:14:10,200 --> 00:14:13,600 Speaker 1: on his hardcore fans, and I think it's made it easier, like, 279 00:14:13,640 --> 00:14:16,520 Speaker 1: for example, what played out in Georgia with Brian Kemp 280 00:14:16,559 --> 00:14:19,720 Speaker 1: able to not only win but dominate in the Republican 281 00:14:19,760 --> 00:14:23,120 Speaker 1: primary in spite of Trump being vehemently on the other side. 282 00:14:23,200 --> 00:14:25,840 Speaker 1: I think not having him sort of asserting his view 283 00:14:26,000 --> 00:14:29,880 Speaker 1: and asserting his control within the press and frankly triggering 284 00:14:29,920 --> 00:14:32,200 Speaker 1: the media was his greatest skill and one of the 285 00:14:32,200 --> 00:14:35,040 Speaker 1: things people like the most about him. Taking that away 286 00:14:35,080 --> 00:14:37,760 Speaker 1: from him has been good on one hand for mass appeal, 287 00:14:37,920 --> 00:14:39,960 Speaker 1: and I think bad for him in terms of his 288 00:14:40,160 --> 00:14:42,760 Speaker 1: like tight hold on his base, which is kind of 289 00:14:42,800 --> 00:14:45,360 Speaker 1: a source of power. Ultimately, Oh absolutely, I mean it's 290 00:14:45,400 --> 00:14:47,400 Speaker 1: difficult to say. I do think that what it has 291 00:14:47,480 --> 00:14:50,360 Speaker 1: done is that removing him off of Twitter has made 292 00:14:50,400 --> 00:14:54,480 Speaker 1: him more palatable to the general public, but has left 293 00:14:54,720 --> 00:14:57,200 Speaker 1: people who loved his tweets in the base and all 294 00:14:57,240 --> 00:14:59,840 Speaker 1: that a little bit more up to the whims of 295 00:15:00,040 --> 00:15:02,240 Speaker 1: whoever his successors happened to be, so that all became 296 00:15:02,320 --> 00:15:05,600 Speaker 1: very balkanized, whether they're on Fox, whether following some other 297 00:15:05,680 --> 00:15:09,720 Speaker 1: weird maga idiots on Twitter that basically follows people down 298 00:15:09,760 --> 00:15:12,280 Speaker 1: pads and makes this that he doesn't have the direct 299 00:15:12,480 --> 00:15:14,560 Speaker 1: kind of command that he used to. And at the 300 00:15:14,640 --> 00:15:16,040 Speaker 1: end of the day, I mean a lot of let's 301 00:15:16,080 --> 00:15:17,880 Speaker 1: be honest, I mean, most these people are still not 302 00:15:17,920 --> 00:15:20,520 Speaker 1: joining Truth. You could have millions of people sign up 303 00:15:20,520 --> 00:15:22,640 Speaker 1: for Truth Social it would still not be what the 304 00:15:22,720 --> 00:15:26,240 Speaker 1: actual Trump base at one point really was. So look, 305 00:15:26,360 --> 00:15:28,640 Speaker 1: that's just the power of network effects. Yeah, and some 306 00:15:28,720 --> 00:15:33,800 Speaker 1: of us just missed the great content. Well sometimes occasionally 307 00:15:34,480 --> 00:15:36,800 Speaker 1: horse face I will always I just think I can't 308 00:15:36,800 --> 00:15:39,520 Speaker 1: believe this is really I can't believe or yeah, Mika 309 00:15:39,600 --> 00:15:42,520 Speaker 1: having a feit. Whatever, we don't have to go down memory, right, 310 00:15:43,040 --> 00:15:45,800 Speaker 1: Let's go to this part. This thing really bothered me. 311 00:15:45,920 --> 00:15:47,760 Speaker 1: Let's put this up there on the screen, which is 312 00:15:47,760 --> 00:15:51,680 Speaker 1: that Attorney General Ken Paxton is saying, if Twitter has 313 00:15:51,800 --> 00:15:55,160 Speaker 1: underreported it's fake a number of fake bots, these numbers 314 00:15:55,240 --> 00:15:59,400 Speaker 1: might have negatively impacted Texas consumers and businesses. We need 315 00:15:59,440 --> 00:16:02,480 Speaker 1: more information. That's why I've launched an investigation to get 316 00:16:02,520 --> 00:16:05,440 Speaker 1: the answers that we need. All right, Look, I got 317 00:16:05,440 --> 00:16:09,240 Speaker 1: nothing wrong with that necessarily. But here's the thing. Don't 318 00:16:09,280 --> 00:16:15,320 Speaker 1: We have a entire in broglio involving EUVOLVEDPD and a 319 00:16:15,360 --> 00:16:19,080 Speaker 1: major investigation by the Texas Department of Public Safety. And 320 00:16:19,280 --> 00:16:21,760 Speaker 1: I actually went ahead and checked the Attorney General Ken 321 00:16:21,800 --> 00:16:25,240 Speaker 1: Paxton has not launched any independent investigation yet of UVALDPD 322 00:16:25,800 --> 00:16:28,040 Speaker 1: or of what happened. And I think this is a 323 00:16:28,120 --> 00:16:31,680 Speaker 1: perfect example of what governing means in the year twenty 324 00:16:31,720 --> 00:16:35,120 Speaker 1: twenty two, which is Ken Paxton is chasing. First of all, 325 00:16:35,160 --> 00:16:37,560 Speaker 1: Elon is now the most prominent Texan I believe he 326 00:16:37,600 --> 00:16:41,320 Speaker 1: lives down there. He's moved TESLA headquarters to Austin, so 327 00:16:41,360 --> 00:16:43,400 Speaker 1: they're wooing and courting him. They're always trying to get 328 00:16:43,440 --> 00:16:46,960 Speaker 1: him to come down there. Fine, okay, that's great, but look, 329 00:16:47,160 --> 00:16:50,320 Speaker 1: I mean taking not command necessarily, but trying to seize 330 00:16:50,640 --> 00:16:54,360 Speaker 1: on this to curry favor with Elon Musk when I 331 00:16:54,360 --> 00:16:58,560 Speaker 1: mean nineteen one of your constituents were just murdered in 332 00:16:58,640 --> 00:17:02,040 Speaker 1: cold blood and let cold blood and let down by 333 00:17:02,080 --> 00:17:04,439 Speaker 1: the very police and law enforcement of which you have 334 00:17:04,640 --> 00:17:08,080 Speaker 1: actual power over right if needed, and then your focused there. 335 00:17:08,119 --> 00:17:11,080 Speaker 1: There's no brownie points right on Twitter or elsewhere for 336 00:17:11,160 --> 00:17:12,919 Speaker 1: doing something, or maybe I'm wrong. Honestly, I think that 337 00:17:12,920 --> 00:17:16,480 Speaker 1: there would be an organic appreciation for that if it 338 00:17:16,520 --> 00:17:19,280 Speaker 1: did happen. But he believes that the best way to 339 00:17:19,280 --> 00:17:22,920 Speaker 1: do it is to chase culture war points. Yes on Twitter, Yeah, 340 00:17:22,960 --> 00:17:24,920 Speaker 1: which is nuts to me. Yeah. I don't even think 341 00:17:24,920 --> 00:17:27,320 Speaker 1: this is about courting Elon. That's what it's about. It's 342 00:17:27,320 --> 00:17:30,560 Speaker 1: about him continuing to be a culture war clown. I mean, 343 00:17:30,560 --> 00:17:33,680 Speaker 1: that's that's a lot of his lawsuits and his actions 344 00:17:33,720 --> 00:17:37,480 Speaker 1: are all about positioning himself as this you know, true 345 00:17:37,600 --> 00:17:41,280 Speaker 1: maga culture warrior. And it's had some by the way, 346 00:17:41,480 --> 00:17:43,280 Speaker 1: anytime we talk about Ken Pax, and we also have 347 00:17:43,320 --> 00:17:47,000 Speaker 1: to remind you that he's like under investigation corruption, So 348 00:17:47,200 --> 00:17:49,679 Speaker 1: keep that in mind in terms of his personal character. 349 00:17:49,760 --> 00:17:53,000 Speaker 1: Of course, he's innocent until proven guilty. But you know this, 350 00:17:53,080 --> 00:17:55,200 Speaker 1: in the first time he's tried to do these sort 351 00:17:55,240 --> 00:17:58,199 Speaker 1: of like social media. Let me position myself in this 352 00:17:58,280 --> 00:18:01,040 Speaker 1: cultural warrior way in terms of like taking a stand 353 00:18:01,040 --> 00:18:03,639 Speaker 1: against censorship, which look, I'm on the same side of 354 00:18:03,680 --> 00:18:05,920 Speaker 1: but a lot of these efforts are not done intelligently. 355 00:18:06,320 --> 00:18:11,199 Speaker 1: In fact, a Texas law was recently put on hold 356 00:18:11,600 --> 00:18:15,679 Speaker 1: by a federal appeals court and it will remain blocks 357 00:18:15,720 --> 00:18:18,160 Speaker 1: as that case moves through the Fifth US Circuit Court 358 00:18:18,160 --> 00:18:22,320 Speaker 1: of Appeals. Ken Paxson himself had the Texas State Bar 359 00:18:22,520 --> 00:18:27,199 Speaker 1: file professional misconduct lawsuit against him for his attempts to 360 00:18:27,240 --> 00:18:31,280 Speaker 1: overturn the twenty twenty election. That lawsuit says he made 361 00:18:31,320 --> 00:18:35,560 Speaker 1: dishonest representations that an outcome determinative number of votes were 362 00:18:35,600 --> 00:18:38,679 Speaker 1: tied to unregistered voters, voters were switched by a glitch 363 00:18:38,720 --> 00:18:43,640 Speaker 1: with voting machines, State actors had unconstitutionally revised their election statutes, 364 00:18:43,640 --> 00:18:45,479 Speaker 1: and illegal votes had been cast. Of fact, they on't 365 00:18:45,520 --> 00:18:47,840 Speaker 1: got in the election. So basically, the Texas State Bar 366 00:18:47,920 --> 00:18:52,000 Speaker 1: is saying you completely lied and misrepresented what was going 367 00:18:52,040 --> 00:18:54,720 Speaker 1: on here in terms of the election, and we think 368 00:18:54,760 --> 00:18:58,800 Speaker 1: that that merits you being sued for professional misconduct. So 369 00:18:59,359 --> 00:19:01,240 Speaker 1: this is part and parcel of how he's trying to 370 00:19:01,240 --> 00:19:03,240 Speaker 1: position himself for his own career. And you're one hundred 371 00:19:03,240 --> 00:19:06,520 Speaker 1: percent right, because I do think if he launched an 372 00:19:06,560 --> 00:19:10,200 Speaker 1: investigation of what happened in Uvaldi, I do think he 373 00:19:10,240 --> 00:19:12,760 Speaker 1: would earn praise across the political spectrum. Well, if it 374 00:19:12,800 --> 00:19:16,639 Speaker 1: was a real one, yes, exactly. But there's more of 375 00:19:16,640 --> 00:19:20,280 Speaker 1: a risk attenant to that because today the right sees, 376 00:19:20,480 --> 00:19:24,520 Speaker 1: you know, the unconscionable lack of response from Uvaldi. Police 377 00:19:24,600 --> 00:19:25,920 Speaker 1: is all on board with that, but that can very 378 00:19:25,960 --> 00:19:28,240 Speaker 1: quickly turn into some sort of like you know, we're 379 00:19:28,240 --> 00:19:31,000 Speaker 1: just locks up with law enforcement. So it's more of 380 00:19:31,040 --> 00:19:34,040 Speaker 1: a riskier maneuver if you are on the Republican side 381 00:19:34,040 --> 00:19:36,320 Speaker 1: of the aisle. Yeah, I mean, look, so far from 382 00:19:36,359 --> 00:19:38,639 Speaker 1: what I found, the only thing that he has said 383 00:19:38,760 --> 00:19:43,000 Speaker 1: post Uvaldi is pushing for arming teachers. Look, if that's 384 00:19:43,000 --> 00:19:46,840 Speaker 1: what you find at the end of an actual investigation, great, 385 00:19:47,480 --> 00:19:51,320 Speaker 1: here's the thing immediately pushing that. And then the very 386 00:19:51,400 --> 00:19:54,159 Speaker 1: first from what I can tell, major investigation that you 387 00:19:54,200 --> 00:19:58,240 Speaker 1: announce post the Uvaldi shooting when you're the attorney general 388 00:19:58,280 --> 00:20:02,639 Speaker 1: for the state of Texas is investigating fake Twitter. We 389 00:20:03,080 --> 00:20:05,159 Speaker 1: don't have better things to do. I mean, look, you 390 00:20:05,160 --> 00:20:07,600 Speaker 1: and I can talk up here about Elon and all that, 391 00:20:07,640 --> 00:20:10,400 Speaker 1: because we understand that has a major impact bost upon 392 00:20:10,840 --> 00:20:13,879 Speaker 1: our audience, just because just the way that you guys 393 00:20:13,920 --> 00:20:17,119 Speaker 1: get information is disproportionately going to be on Twitter, and 394 00:20:17,160 --> 00:20:19,520 Speaker 1: even if you're not on Twitter, the Twitter discourse affects 395 00:20:19,600 --> 00:20:22,200 Speaker 1: you in ways that we've described for you many times 396 00:20:22,200 --> 00:20:24,280 Speaker 1: here on the show. That's fine, that's kind of you 397 00:20:24,359 --> 00:20:27,600 Speaker 1: know what we do. But he doesn't. He's not a poster, 398 00:20:27,720 --> 00:20:30,160 Speaker 1: you know, he's not somebody who's in the national discourse 399 00:20:30,240 --> 00:20:32,679 Speaker 1: or anything. He's the attorney general for one of the 400 00:20:32,720 --> 00:20:35,959 Speaker 1: largest states in the country, which just suffered a horrific shooting. 401 00:20:36,400 --> 00:20:38,040 Speaker 1: And I just couldn't get over the fact that this 402 00:20:38,119 --> 00:20:41,560 Speaker 1: is the very first thing that this guy does post 403 00:20:41,600 --> 00:20:43,919 Speaker 1: you Valdi, other than put out a statement calling for 404 00:20:44,080 --> 00:20:47,160 Speaker 1: arming teachers. No scrutiny of law enforcement. I mean, this guy, 405 00:20:47,200 --> 00:20:49,680 Speaker 1: Pete Aredondo, the chief of police, done evil. He needs 406 00:20:49,680 --> 00:20:52,520 Speaker 1: to get his ass in front of a ground jury yesterday. 407 00:20:52,600 --> 00:20:55,320 Speaker 1: I mean, the Texas Attorney General has quite a bit 408 00:20:55,359 --> 00:20:59,120 Speaker 1: of power and yet none of it's being exercised. Ken 409 00:20:59,160 --> 00:21:02,000 Speaker 1: Paxton is bullet p politically. He just survived the primary 410 00:21:02,040 --> 00:21:04,760 Speaker 1: challenge from George P. Bush. And look, the best way 411 00:21:04,800 --> 00:21:07,440 Speaker 1: you want to beat this federal indictment. Maybe it's currying 412 00:21:07,480 --> 00:21:10,400 Speaker 1: a ton of favor by becoming a national hero by 413 00:21:10,440 --> 00:21:13,359 Speaker 1: investigating these Ubaldi cops. But he won't do it. The 414 00:21:13,400 --> 00:21:15,240 Speaker 1: governor won't do it, and these guys are just getting 415 00:21:15,240 --> 00:21:17,800 Speaker 1: away with I mean, getting away with little murder here. Yeah. 416 00:21:17,840 --> 00:21:21,520 Speaker 1: And this argument he's making that, oh maybe the fake 417 00:21:21,600 --> 00:21:24,880 Speaker 1: bod accounts of impacted Texas consumers and business I mean, 418 00:21:24,960 --> 00:21:28,880 Speaker 1: this is really baby. I mean, come on, how affected 419 00:21:28,920 --> 00:21:31,160 Speaker 1: are you in your daily life or in your business life? 420 00:21:31,200 --> 00:21:34,680 Speaker 1: If there are seven percent bots on Twitter versus five 421 00:21:34,720 --> 00:21:37,240 Speaker 1: percent bots on Twitter or whatever, it's silly, it's sign 422 00:21:37,240 --> 00:21:39,560 Speaker 1: if it is, that's up to the FTC, that's up 423 00:21:39,600 --> 00:21:41,840 Speaker 1: to the DOJ. And sure maybe it's even up to 424 00:21:41,840 --> 00:21:44,000 Speaker 1: the Texas Attorney General to launch that investigation, but it 425 00:21:44,040 --> 00:21:47,520 Speaker 1: should be one of that should be the secondary tertiary 426 00:21:47,560 --> 00:21:51,760 Speaker 1: investigation relative to this shooting that just happened back in 427 00:21:51,760 --> 00:21:54,639 Speaker 1: my home state. So anyway, that just shows you how 428 00:21:54,680 --> 00:21:57,800 Speaker 1: the culture war genuinely rots everything. Indeed, all right, let's 429 00:21:57,800 --> 00:22:00,000 Speaker 1: move on here. Baby formula. This is a story obviously, 430 00:22:00,040 --> 00:22:02,480 Speaker 1: and keeping a lot of eyes on. Praised President Biden 431 00:22:02,520 --> 00:22:05,240 Speaker 1: for invoking the Defense Production Act. But the timeline that's 432 00:22:05,240 --> 00:22:07,160 Speaker 1: coming out of the administration right now, I'm not saying 433 00:22:07,200 --> 00:22:10,120 Speaker 1: they didn't end up doing the right thing, is really shocking. 434 00:22:10,200 --> 00:22:12,440 Speaker 1: I mean, it just is a complete indictment of the 435 00:22:12,480 --> 00:22:16,960 Speaker 1: Biden administration. President Biden admitted on camera that he knew 436 00:22:16,960 --> 00:22:20,600 Speaker 1: about the baby formula crisis back in April and did 437 00:22:20,600 --> 00:22:24,960 Speaker 1: not really do anything about it until public pressure erupted 438 00:22:25,280 --> 00:22:27,520 Speaker 1: in the month of May. Here he is talking a 439 00:22:27,520 --> 00:22:32,240 Speaker 1: couple of days ago. Here's the deal. I became aware 440 00:22:32,240 --> 00:22:37,760 Speaker 1: of this problem sometime and after April, in early April, 441 00:22:37,760 --> 00:22:41,280 Speaker 1: about how intention was, and so we did everything on 442 00:22:41,320 --> 00:22:43,439 Speaker 1: our power from that point on. And that's all I 443 00:22:43,480 --> 00:22:46,000 Speaker 1: can tell you right now, and we're going to continue 444 00:22:46,040 --> 00:22:49,880 Speaker 1: to do it. We get the job early April. I mean, 445 00:22:49,880 --> 00:22:52,000 Speaker 1: that's a long time. So why didn't you do anything 446 00:22:52,000 --> 00:22:54,080 Speaker 1: about it? Did you order anything to do anything about it? 447 00:22:54,080 --> 00:22:56,240 Speaker 1: And here's we actually know the answer. The answer is no, 448 00:22:56,400 --> 00:22:59,760 Speaker 1: because the White House has said, well, first the White 449 00:22:59,800 --> 00:23:02,720 Speaker 1: House Brian Dees said, we've known about this since February. Okay, 450 00:23:02,800 --> 00:23:04,640 Speaker 1: well why didn't you do anything about it? Right then 451 00:23:04,680 --> 00:23:06,919 Speaker 1: Biden says, well, I found out about it in April. Okay, 452 00:23:06,960 --> 00:23:08,600 Speaker 1: well why didn't you do anything about it? And then 453 00:23:08,600 --> 00:23:09,840 Speaker 1: you say, well, we did do something about it. We 454 00:23:09,920 --> 00:23:11,840 Speaker 1: invoked the Defense Production Act. Yeah, in May, so a 455 00:23:11,880 --> 00:23:15,440 Speaker 1: month later after you find out about And yet, let's 456 00:23:15,440 --> 00:23:18,760 Speaker 1: be honest, it only happened because they passed the Ukraine 457 00:23:18,760 --> 00:23:20,280 Speaker 1: Bill and people were like, hey, we have forty four 458 00:23:20,280 --> 00:23:22,080 Speaker 1: billion to send a Ukraine, but we don't have baby 459 00:23:22,119 --> 00:23:25,600 Speaker 1: formula to send to kids. And then Congress enacted people 460 00:23:25,640 --> 00:23:27,480 Speaker 1: like us were talking about it. It's not just a 461 00:23:27,680 --> 00:23:30,480 Speaker 1: I mean, it was a huge thing for the entire country. 462 00:23:30,640 --> 00:23:32,640 Speaker 1: Was just horrified at the idea of tiny little infants 463 00:23:32,640 --> 00:23:35,400 Speaker 1: not being able to have their food. But here's the thing, 464 00:23:35,560 --> 00:23:38,359 Speaker 1: when you continue to look at all of the administration officials, 465 00:23:38,480 --> 00:23:40,639 Speaker 1: this is a massive failure of government. You have not 466 00:23:40,680 --> 00:23:43,000 Speaker 1: only the president is at the top, like he's not 467 00:23:43,119 --> 00:23:46,080 Speaker 1: even supposed to necessarily know about this stuff. His staff 468 00:23:46,119 --> 00:23:48,320 Speaker 1: is supposed to bring it to his attention and more importantly, 469 00:23:48,320 --> 00:23:50,560 Speaker 1: he's supposed to order his staff to do something. Well. 470 00:23:50,720 --> 00:23:54,520 Speaker 1: Secretary of Commerce Gina Raymondo's on TV over the weekend. 471 00:23:54,680 --> 00:23:56,760 Speaker 1: She admits the same thing, I've known about since April. 472 00:23:56,840 --> 00:23:58,800 Speaker 1: But honestly the response are about to play for you 473 00:23:58,920 --> 00:24:01,440 Speaker 1: is worse because I didn't. She just says, I didn't 474 00:24:01,440 --> 00:24:03,520 Speaker 1: just know about it until April. I'm not involved in 475 00:24:03,560 --> 00:24:05,920 Speaker 1: anything regarding it right now. Let's take a listen as 476 00:24:05,960 --> 00:24:08,480 Speaker 1: President Biden this week said he didn't learn about the 477 00:24:08,520 --> 00:24:12,800 Speaker 1: severity of the infant formula shortage until April, but problems 478 00:24:12,800 --> 00:24:15,800 Speaker 1: first emerged back of the Abbot plant back in October 479 00:24:15,880 --> 00:24:19,080 Speaker 1: twenty twenty one. An industry executive said they knew how 480 00:24:19,119 --> 00:24:22,320 Speaker 1: bad this could get when the plant closed in February. 481 00:24:22,520 --> 00:24:25,240 Speaker 1: You're the Secretary of Commerce, When did you first learn 482 00:24:25,359 --> 00:24:30,439 Speaker 1: of this problem? I first learned about it, you know, 483 00:24:31,320 --> 00:24:36,880 Speaker 1: a couple of months ago. So this is a difficult issue. 484 00:24:36,880 --> 00:24:41,760 Speaker 1: But yes, probably April. I'm not involved in the administration's 485 00:24:41,760 --> 00:24:44,440 Speaker 1: response here, I should say, but I think they're doing 486 00:24:44,480 --> 00:24:47,399 Speaker 1: a very good job. Well, why are you not involved 487 00:24:47,400 --> 00:24:51,080 Speaker 1: with that? Because actually, the Commerce Committee in Congress and 488 00:24:51,119 --> 00:24:55,040 Speaker 1: the Commerce Department has an immense amount of power over 489 00:24:55,080 --> 00:24:59,159 Speaker 1: the baby formula. This is just again perfect example you 490 00:24:59,240 --> 00:25:01,800 Speaker 1: have here the second Terry who says, yeah, I found 491 00:25:01,800 --> 00:25:04,240 Speaker 1: out about it, but you know whatever, I didn't really 492 00:25:04,280 --> 00:25:06,640 Speaker 1: have anything to do with it. Well wait, why don't 493 00:25:06,680 --> 00:25:08,480 Speaker 1: you have anything to do with it? Because the Commerce 494 00:25:08,480 --> 00:25:11,879 Speaker 1: Department has a lot of regulatory authority over the actual 495 00:25:12,520 --> 00:25:15,880 Speaker 1: baby formula. And then also, why are you not involved 496 00:25:15,880 --> 00:25:18,159 Speaker 1: in a whole of government approach with the FDA and 497 00:25:18,200 --> 00:25:21,120 Speaker 1: the CDC in order to get this plant spinning again? 498 00:25:21,200 --> 00:25:24,159 Speaker 1: I mean, this really was just a complete crisis of 499 00:25:24,280 --> 00:25:27,439 Speaker 1: government because it just showed us that things have to 500 00:25:27,480 --> 00:25:32,200 Speaker 1: get so bad that little kids are starving and parents 501 00:25:32,240 --> 00:25:36,280 Speaker 1: are driving eight to nine hours different stores trying to 502 00:25:36,400 --> 00:25:40,400 Speaker 1: import European trying to import formula illegally until the government 503 00:25:40,480 --> 00:25:43,840 Speaker 1: makes it okay. Also, again, why are you not involved 504 00:25:44,119 --> 00:25:47,040 Speaker 1: in the administration's response. You know, people don't realize this. 505 00:25:47,160 --> 00:25:51,760 Speaker 1: The Commerce Department has immense power over international trade, tariffs, 506 00:25:51,760 --> 00:25:55,280 Speaker 1: all that stuff that's under congressional jurisdiction of the Commerce Department. 507 00:25:55,320 --> 00:25:58,800 Speaker 1: So she's telling us she has no authority over importing 508 00:25:58,800 --> 00:26:01,600 Speaker 1: European baby formula. That bs I mean, maybe the military 509 00:26:01,640 --> 00:26:03,720 Speaker 1: is moving it, but you should be heavily involved. Also 510 00:26:03,720 --> 00:26:06,359 Speaker 1: in the future. You know now that American parents are 511 00:26:06,400 --> 00:26:09,920 Speaker 1: getting European baby former, let's make it permanent. Yeah, you know, like, 512 00:26:10,160 --> 00:26:12,040 Speaker 1: let the American look, this is the first time we'll 513 00:26:12,040 --> 00:26:14,359 Speaker 1: be like leat Americans compete because from what I can tell, 514 00:26:14,640 --> 00:26:17,280 Speaker 1: European baby formula is way better than ours. Well, and 515 00:26:17,560 --> 00:26:19,359 Speaker 1: also just to give you a little peek behind the 516 00:26:19,359 --> 00:26:22,120 Speaker 1: curtain here in Washington, DC, this is a person who, 517 00:26:22,920 --> 00:26:24,800 Speaker 1: you know, the powers that be in this town are 518 00:26:24,920 --> 00:26:27,200 Speaker 1: very hot on, very high on her. They love her, 519 00:26:27,320 --> 00:26:29,520 Speaker 1: They think of her for higher office in the future, 520 00:26:30,080 --> 00:26:33,520 Speaker 1: sometimes being floated for like president crazy to me. So 521 00:26:34,160 --> 00:26:37,240 Speaker 1: the fact that you know she's completely absent from duty 522 00:26:37,280 --> 00:26:39,600 Speaker 1: here that you know, and not doing a good job 523 00:26:39,640 --> 00:26:42,119 Speaker 1: at her actual job, that has no bearing on whether 524 00:26:42,200 --> 00:26:44,960 Speaker 1: or not she'll be elevated to the next highest level. 525 00:26:45,160 --> 00:26:47,919 Speaker 1: She's already in a position of great power here. This 526 00:26:48,000 --> 00:26:52,520 Speaker 1: also really gets to a core failing of the Biden 527 00:26:52,600 --> 00:26:56,800 Speaker 1: administration that I'm not particularly surprised by, but I think 528 00:26:56,840 --> 00:27:00,159 Speaker 1: a lot of people are. One of the promises of 529 00:27:00,240 --> 00:27:03,480 Speaker 1: his campaign was the grown ups will be back in charge, 530 00:27:03,520 --> 00:27:05,679 Speaker 1: that it won't be the chaos of the Trump years. 531 00:27:05,680 --> 00:27:08,119 Speaker 1: Will have people who know what they're doing back in 532 00:27:08,240 --> 00:27:11,760 Speaker 1: power run officient administration, and so listen, you may not 533 00:27:11,880 --> 00:27:14,280 Speaker 1: want everything that we're going to do. You may not 534 00:27:14,320 --> 00:27:16,639 Speaker 1: be on board. You may want more, you may want less, 535 00:27:16,680 --> 00:27:20,240 Speaker 1: but at least it's going to be competently managed. That 536 00:27:20,359 --> 00:27:24,880 Speaker 1: has turned out to be completely false. And by the way, 537 00:27:25,000 --> 00:27:27,159 Speaker 1: you know some of the reporting that now that the 538 00:27:27,160 --> 00:27:29,680 Speaker 1: wheels have come off this administration so clearly and his 539 00:27:29,760 --> 00:27:33,320 Speaker 1: approval rating is down, you know, at Trump or below 540 00:27:33,359 --> 00:27:36,840 Speaker 1: Trump in certain instances. Young people are disgusted with this administration. 541 00:27:36,920 --> 00:27:38,520 Speaker 1: They're starting to be all these leaks and all these 542 00:27:38,520 --> 00:27:40,879 Speaker 1: insider and reports about like what's going wrong and what 543 00:27:40,920 --> 00:27:43,399 Speaker 1: Biden thinks about it. And one of the things that 544 00:27:43,440 --> 00:27:46,280 Speaker 1: he complained about was that he hadn't been notified by 545 00:27:46,320 --> 00:27:50,520 Speaker 1: his staff about the baby formula crisis sooner when it 546 00:27:50,520 --> 00:27:53,200 Speaker 1: came to their attention in February, or you know, could 547 00:27:53,240 --> 00:27:55,200 Speaker 1: have even been before that, because you did, as Jake 548 00:27:55,240 --> 00:27:57,800 Speaker 1: Tapper points out there, you did have this whistleblower early 549 00:27:57,880 --> 00:28:00,960 Speaker 1: on talking about the lack of safety stand and potential 550 00:28:01,000 --> 00:28:05,560 Speaker 1: problems at this Abbot Laboratory's plant. So you have an 551 00:28:05,600 --> 00:28:08,320 Speaker 1: initial failure which still has to be on the president. 552 00:28:08,359 --> 00:28:11,600 Speaker 1: He's the one that assembled this group of staffers around himself. 553 00:28:11,640 --> 00:28:13,639 Speaker 1: But so you have this initial failure of staff to 554 00:28:13,680 --> 00:28:15,959 Speaker 1: notify the president at all or do anything about it, 555 00:28:16,280 --> 00:28:19,080 Speaker 1: and then even once he is notified in early April, 556 00:28:19,160 --> 00:28:24,520 Speaker 1: it takes this massive public outcry and you know, the news, 557 00:28:25,000 --> 00:28:28,520 Speaker 1: the media finally writing stories about these babies who are 558 00:28:28,520 --> 00:28:31,960 Speaker 1: in dire trouble and in some terrible instances even having 559 00:28:32,000 --> 00:28:34,360 Speaker 1: to be admitted to the hospital to get the nutrition 560 00:28:34,480 --> 00:28:36,520 Speaker 1: that they need, and moms who are desperate and at 561 00:28:36,560 --> 00:28:39,080 Speaker 1: their wits end doing everything they can, spending all day 562 00:28:39,440 --> 00:28:41,440 Speaker 1: going from you know, store to store to try to 563 00:28:41,480 --> 00:28:44,080 Speaker 1: find the formula that's going to work for their babies. 564 00:28:44,120 --> 00:28:47,080 Speaker 1: It took all of that before they finally said, you know, 565 00:28:47,160 --> 00:28:50,080 Speaker 1: we could actually do something about this. And it's a 566 00:28:50,120 --> 00:28:53,880 Speaker 1: bigger problem for the administration because the critique of them 567 00:28:53,920 --> 00:28:56,239 Speaker 1: that they are just purely sort of reactive, that they 568 00:28:56,240 --> 00:28:58,680 Speaker 1: are always behind the times, that they are catching up 569 00:28:58,920 --> 00:29:00,880 Speaker 1: a few months later to that have been hurting the 570 00:29:00,920 --> 00:29:06,080 Speaker 1: American people for months. I just think that that's completely indisputable, yes, 571 00:29:06,160 --> 00:29:09,200 Speaker 1: And I think it goes very much against the core 572 00:29:09,400 --> 00:29:11,480 Speaker 1: hope that a lot of people had for this administry. 573 00:29:11,560 --> 00:29:14,520 Speaker 1: Oh absolutely, Chrystal. I mean, look, this was their basic 574 00:29:14,600 --> 00:29:17,880 Speaker 1: promise is we will get those vaccines out, you know, easily. 575 00:29:17,920 --> 00:29:20,720 Speaker 1: That's why I thought they I just did not anticipate 576 00:29:20,800 --> 00:29:24,600 Speaker 1: how incompetent these idiots are. Yeah, it's mystifying. I mean, 577 00:29:24,920 --> 00:29:27,040 Speaker 1: even on gas right now. I mean, look, I've been 578 00:29:27,040 --> 00:29:30,120 Speaker 1: watching it. We are very very close to five dollars 579 00:29:30,200 --> 00:29:32,920 Speaker 1: national average. The gas price went up five percent in 580 00:29:33,040 --> 00:29:34,760 Speaker 1: just the last week. It only needs to go up 581 00:29:34,760 --> 00:29:37,760 Speaker 1: by two and we're at five nationally. Nobody apparently in 582 00:29:37,760 --> 00:29:40,080 Speaker 1: the White House, seems to be talking about that. Yeah, 583 00:29:40,120 --> 00:29:43,200 Speaker 1: oh cool. You know you're allowing Venezuela to export to Europe, 584 00:29:43,360 --> 00:29:46,480 Speaker 1: big deal. You know that is not going to replace 585 00:29:46,520 --> 00:29:50,160 Speaker 1: the lost gas stock, especially given the current demand. Nothing's 586 00:29:50,160 --> 00:29:52,920 Speaker 1: happening and there's real consequences. Let's put this up there 587 00:29:53,160 --> 00:29:55,360 Speaker 1: on the screen. You know, Abbot a couple of days ago, 588 00:29:55,400 --> 00:29:58,800 Speaker 1: Abbot Nutrition just restarted the baby formula production. But you know, 589 00:29:59,120 --> 00:30:02,240 Speaker 1: everybody knows this, from production to actually going to the shelf, 590 00:30:02,280 --> 00:30:04,720 Speaker 1: it takes a long time. And it's not a joke. 591 00:30:05,040 --> 00:30:08,000 Speaker 1: I have been reading some horrific stories. There's one in 592 00:30:08,040 --> 00:30:10,720 Speaker 1: the New York Times that just came out yesterday about 593 00:30:10,760 --> 00:30:13,960 Speaker 1: how many newborns who spend time in the nickeu they 594 00:30:14,040 --> 00:30:17,280 Speaker 1: need specialized formula, because this is the thing in particular, 595 00:30:17,440 --> 00:30:20,480 Speaker 1: it's not just replacement level. It might be for some, 596 00:30:20,640 --> 00:30:22,840 Speaker 1: you know, for some babies. Some of these people who 597 00:30:22,880 --> 00:30:26,440 Speaker 1: have allergies and whose babies are in the Can you 598 00:30:26,520 --> 00:30:30,400 Speaker 1: imagine having like a six month old premium or a 599 00:30:30,400 --> 00:30:33,080 Speaker 1: premium baby in the NICU and they're like, you need 600 00:30:33,120 --> 00:30:35,480 Speaker 1: this baby formula to keep your baby alive, and you 601 00:30:35,520 --> 00:30:38,400 Speaker 1: can't get it any manic people freak it out horrible. 602 00:30:38,400 --> 00:30:40,960 Speaker 1: They're driving hundreds of miles to go get this stuff. Well, 603 00:30:41,000 --> 00:30:45,360 Speaker 1: the thing I worry about too is, you know, we're 604 00:30:45,400 --> 00:30:48,960 Speaker 1: in a new era now, and I wonder if the 605 00:30:49,520 --> 00:30:53,160 Speaker 1: baby formula crisis is just the beginning of many I mean, 606 00:30:53,480 --> 00:30:56,040 Speaker 1: it's not even the beginning. We've already had crises, they 607 00:30:56,080 --> 00:30:58,400 Speaker 1: just haven't been in the like soul source of nutrition 608 00:30:58,560 --> 00:31:02,040 Speaker 1: for the most vulnerable population in the entire country. But 609 00:31:02,960 --> 00:31:05,400 Speaker 1: I really think that we are in a kind of 610 00:31:05,520 --> 00:31:08,520 Speaker 1: new normal here with the global realignments that are happening, 611 00:31:08,560 --> 00:31:12,800 Speaker 1: with the way that the climate crisis is making foodstocks 612 00:31:13,000 --> 00:31:15,880 Speaker 1: and farming much more precarious, the sort of follow on 613 00:31:15,960 --> 00:31:18,480 Speaker 1: effects that we have from that, the follow on effects 614 00:31:18,480 --> 00:31:20,520 Speaker 1: that we have from this war which is not ending 615 00:31:20,560 --> 00:31:24,000 Speaker 1: anytime soon. And so when you see the government so 616 00:31:24,280 --> 00:31:28,040 Speaker 1: behind the curve and so unable to respond in anything 617 00:31:28,080 --> 00:31:31,960 Speaker 1: approaching a timely or urgent fashion, and still trying to 618 00:31:32,000 --> 00:31:34,000 Speaker 1: sort of pass the buck in terms of, you know, 619 00:31:34,080 --> 00:31:36,320 Speaker 1: their own blame in not getting on top of this, 620 00:31:36,960 --> 00:31:38,840 Speaker 1: I think this is going to be a cycle that 621 00:31:38,840 --> 00:31:42,120 Speaker 1: we see replay itself over and over again, not with this, 622 00:31:42,440 --> 00:31:45,320 Speaker 1: not just with this administration, but withever, whatever comes next 623 00:31:45,320 --> 00:31:48,760 Speaker 1: as well. Let's see how they can blame Putin for it. Yeah, exactly, 624 00:31:49,000 --> 00:31:53,560 Speaker 1: Formula the price hike is responsible the Putin Ukraine price 625 00:31:53,600 --> 00:31:56,280 Speaker 1: hike on baby formula. Well that to people who are 626 00:31:56,320 --> 00:31:59,440 Speaker 1: parents of Premius. Yeah. And there's another story that I 627 00:31:59,440 --> 00:32:02,600 Speaker 1: didn't want to say to miss that comes amidst the 628 00:32:02,640 --> 00:32:06,040 Speaker 1: formula crisis, that comes amidst you know, rising food prices 629 00:32:06,080 --> 00:32:09,120 Speaker 1: and overall inflation, which is you guys will recall that 630 00:32:09,600 --> 00:32:12,000 Speaker 1: as part of that initial COVID relief plan in the 631 00:32:12,040 --> 00:32:14,840 Speaker 1: Biden administration, they passed a it was actually less than 632 00:32:14,880 --> 00:32:19,760 Speaker 1: one year they instituted this child tax credit, and it 633 00:32:19,840 --> 00:32:24,560 Speaker 1: was a dramatically successful program. You saw hunger plummet. You 634 00:32:24,640 --> 00:32:28,920 Speaker 1: saw families be able to It actually allowed parents to 635 00:32:28,960 --> 00:32:32,000 Speaker 1: be able to work more. They were able to feed 636 00:32:32,000 --> 00:32:35,080 Speaker 1: their children, not just you know, be comfortably, but be 637 00:32:35,080 --> 00:32:37,720 Speaker 1: able to get them nutritious foods. It gave them a 638 00:32:37,760 --> 00:32:42,920 Speaker 1: little bit of a cushion. Here. Now that tax credit 639 00:32:43,080 --> 00:32:46,800 Speaker 1: has expired and the impact has been truly dire, let's 640 00:32:46,800 --> 00:32:48,920 Speaker 1: go ahead and put the CNBC tear sheet up on 641 00:32:48,960 --> 00:32:52,200 Speaker 1: the screen. The latest data says that in the United 642 00:32:52,240 --> 00:32:57,680 Speaker 1: States of America, extraordinarily wealthy country, nearly half of families 643 00:32:57,680 --> 00:33:02,480 Speaker 1: with kids can no longer afford enough food. That's five 644 00:33:02,520 --> 00:33:06,240 Speaker 1: months after the child tax credit ended. And dig into 645 00:33:06,240 --> 00:33:08,680 Speaker 1: the data here, I mean, they say in this article 646 00:33:08,760 --> 00:33:13,120 Speaker 1: more than ninety percent of families ninety percent say they're 647 00:33:13,120 --> 00:33:15,440 Speaker 1: finding it harder to make ends meat right now, more 648 00:33:15,480 --> 00:33:19,680 Speaker 1: than sixty percent struggling to satisfy their families' basic needs. 649 00:33:20,400 --> 00:33:22,480 Speaker 1: Beyond cutting back on things, most families say they have 650 00:33:22,560 --> 00:33:24,680 Speaker 1: stopped save them for the future. They have tapped into 651 00:33:24,680 --> 00:33:27,320 Speaker 1: their emergency savings to stay a flow. We've tracked some 652 00:33:27,480 --> 00:33:30,000 Speaker 1: of the data regarding that and in terms of what 653 00:33:30,160 --> 00:33:34,280 Speaker 1: families are doing specifically to be able to make ends 654 00:33:34,480 --> 00:33:37,320 Speaker 1: meet and be able just to feed their kids, huge 655 00:33:37,360 --> 00:33:39,680 Speaker 1: numbers of people are substituting you know, fresh fruits and 656 00:33:39,800 --> 00:33:42,840 Speaker 1: vegetables for things that are less expensive and by the way, 657 00:33:42,880 --> 00:33:46,080 Speaker 1: less nutritious. But you even have some extreme measures being 658 00:33:46,080 --> 00:33:49,320 Speaker 1: taken here. Forty five percent forty five percent, almost half 659 00:33:49,320 --> 00:33:52,840 Speaker 1: of famili's saying that parents had to skip meals in 660 00:33:52,920 --> 00:33:56,040 Speaker 1: order for their kids to eat. Another forty five percent 661 00:33:56,280 --> 00:33:59,720 Speaker 1: had to rely on food banks, so they were unable 662 00:33:59,760 --> 00:34:03,360 Speaker 1: to make it work on their own. And this is 663 00:34:03,480 --> 00:34:05,880 Speaker 1: you know, this is certainly in part because food prices 664 00:34:05,880 --> 00:34:09,160 Speaker 1: have gone up, but it's also in part because frankly, look, 665 00:34:09,239 --> 00:34:13,040 Speaker 1: I mean Republicans, they weren't on board to help extend 666 00:34:13,040 --> 00:34:15,319 Speaker 1: this tax credit, and so they're certainly in the bad 667 00:34:15,320 --> 00:34:18,680 Speaker 1: guy camp here as well. But Democrats put this one 668 00:34:18,840 --> 00:34:22,040 Speaker 1: year limit on the child tax credit because they wanted 669 00:34:22,040 --> 00:34:24,759 Speaker 1: to play sort of budget games, and they imagine that 670 00:34:24,880 --> 00:34:27,680 Speaker 1: the top line number on the COVID relief plan really mattered, 671 00:34:28,440 --> 00:34:30,680 Speaker 1: you know, in terms of the public perception of it. 672 00:34:31,280 --> 00:34:35,280 Speaker 1: And furthermore, they thought this would be a great midterm 673 00:34:35,280 --> 00:34:38,000 Speaker 1: political winner for them that they could bash Republicans over 674 00:34:38,040 --> 00:34:40,360 Speaker 1: the head with and be able to either get it 675 00:34:40,400 --> 00:34:45,440 Speaker 1: reauthorized or use it to regain power or keep power. 676 00:34:45,560 --> 00:34:48,560 Speaker 1: Rather in the midterm elections. None of that ended up 677 00:34:48,560 --> 00:34:51,839 Speaker 1: working out, and so instead you have the specter of 678 00:34:52,200 --> 00:34:56,080 Speaker 1: families benefiting from something that genuinely have helped them and 679 00:34:56,080 --> 00:34:58,680 Speaker 1: then having it stripped away. And by the way, Cyrus, 680 00:34:58,719 --> 00:35:00,279 Speaker 1: we've covered in the past, and there was a a 681 00:35:00,360 --> 00:35:03,520 Speaker 1: new poll that showed the same thing. Families have benefited 682 00:35:03,560 --> 00:35:07,120 Speaker 1: from this child to tax credit. We're actually on net 683 00:35:07,239 --> 00:35:09,279 Speaker 1: planning to vote for Democrats in the midterm after it 684 00:35:09,320 --> 00:35:12,040 Speaker 1: goes away. They're now on net planning to vote for Republicans. 685 00:35:12,120 --> 00:35:14,680 Speaker 1: So if all you care about is the political consequences, 686 00:35:14,680 --> 00:35:17,040 Speaker 1: this has been a disaster too. Yeah, it's it's been 687 00:35:17,160 --> 00:35:19,640 Speaker 1: very informative for me to watch this thing all play out. 688 00:35:19,680 --> 00:35:21,560 Speaker 1: I mean, I thought it would be dramatically popular, but 689 00:35:21,600 --> 00:35:23,400 Speaker 1: I think that the truth of the matter is is 690 00:35:23,440 --> 00:35:25,319 Speaker 1: that if people don't feel secure and they feel like 691 00:35:25,320 --> 00:35:27,560 Speaker 1: everything is chaotic, they'll turn against both the program and 692 00:35:27,600 --> 00:35:29,719 Speaker 1: they'll turn against the people who are in power. And 693 00:35:29,719 --> 00:35:32,080 Speaker 1: even if the Republicans are against it, they'll accept their 694 00:35:32,600 --> 00:35:35,400 Speaker 1: arguments and they'll vote for them instead, which, you know, 695 00:35:35,400 --> 00:35:37,840 Speaker 1: if you care about the political sustainability of these things, 696 00:35:37,920 --> 00:35:41,200 Speaker 1: is actually pretty pretty upsetting. But look, I think that 697 00:35:41,200 --> 00:35:44,040 Speaker 1: the consequences can't really be denied, which is that most 698 00:35:44,080 --> 00:35:48,319 Speaker 1: of these people are cutting fewer fruits and vegetables, they 699 00:35:48,320 --> 00:35:52,720 Speaker 1: are changing the brands, they're using food banks, they're skipping meals, 700 00:35:53,000 --> 00:35:55,120 Speaker 1: and then in some cases the entire families skip meals. 701 00:35:55,200 --> 00:35:58,520 Speaker 1: Ten percent, say, basically the entire family, their kids and 702 00:35:58,600 --> 00:36:01,120 Speaker 1: them going without food. At me, that's a lot of people. 703 00:36:01,280 --> 00:36:03,799 Speaker 1: And you know, you consider it's just weird because the 704 00:36:03,840 --> 00:36:06,919 Speaker 1: economy is extraordinarily wonky. You have extremely high gas price, 705 00:36:06,960 --> 00:36:09,479 Speaker 1: you've extremely high food price, you have less cash coming 706 00:36:09,520 --> 00:36:12,000 Speaker 1: in the door, you have less wage increase. But also 707 00:36:12,080 --> 00:36:14,760 Speaker 1: the labor market is hot if you happen to basically 708 00:36:14,800 --> 00:36:17,800 Speaker 1: be in the blue collar workforce. But also the savings 709 00:36:17,920 --> 00:36:19,759 Speaker 1: rate is an all time low, credit card debt is 710 00:36:19,800 --> 00:36:21,960 Speaker 1: all time high. So it's like, well, what is happening here? 711 00:36:22,760 --> 00:36:25,600 Speaker 1: I think that the savings and all that other stuff 712 00:36:25,719 --> 00:36:29,200 Speaker 1: is getting burned out. The wonky demand shocks and supply 713 00:36:29,280 --> 00:36:32,840 Speaker 1: shocks are basically their demand shock is gone. Supply shock 714 00:36:32,920 --> 00:36:34,880 Speaker 1: is here to say, right, literally, right as you and 715 00:36:34,880 --> 00:36:37,239 Speaker 1: I are doing this show, Target stock just fell by 716 00:36:37,280 --> 00:36:42,400 Speaker 1: ten percent. Yeah, because they have to cut price massively. 717 00:36:42,480 --> 00:36:44,560 Speaker 1: And yeah, look I don't want What happened with them 718 00:36:44,960 --> 00:36:48,200 Speaker 1: is they bought too many goods trying to overcome the 719 00:36:48,239 --> 00:36:52,280 Speaker 1: supply is yes, and now that demands is dialing back, 720 00:36:52,480 --> 00:36:55,799 Speaker 1: they have too much overestimated how much? And so yeah, 721 00:36:55,800 --> 00:36:59,520 Speaker 1: they're they're hosts. They're screwed. And look, Target, Walmart, those 722 00:36:59,520 --> 00:37:02,240 Speaker 1: are the stop which tell us exactly what's really happening 723 00:37:02,560 --> 00:37:06,000 Speaker 1: with the normal economy. So you've got major retailers that 724 00:37:06,040 --> 00:37:08,759 Speaker 1: show us that demand is down, Gap down, you know, 725 00:37:08,800 --> 00:37:12,200 Speaker 1: twenty percent, Walmart down twenty five percent, Target down twenty 726 00:37:12,440 --> 00:37:15,360 Speaker 1: something percent, and then you see that's the leading indicator 727 00:37:15,360 --> 00:37:17,640 Speaker 1: that I'm looking at most. I'm like, yep, normal people 728 00:37:17,680 --> 00:37:19,239 Speaker 1: are just not buying stuff. And I bet you're going 729 00:37:19,320 --> 00:37:21,920 Speaker 1: to see this all across the board in reduction in 730 00:37:22,080 --> 00:37:25,560 Speaker 1: consumer spending, Starbucks, you know, Dunk and Dona, any of 731 00:37:25,600 --> 00:37:27,759 Speaker 1: these things that rely on people having just a tiny 732 00:37:27,840 --> 00:37:30,680 Speaker 1: little bit more cash, it's going to go really down 733 00:37:30,800 --> 00:37:34,520 Speaker 1: the downhill. And that's really unfortunate because all of our lives, 734 00:37:34,520 --> 00:37:36,920 Speaker 1: our ability to have a labor market. I mean, seventy 735 00:37:36,960 --> 00:37:39,560 Speaker 1: percent of the US economy is consumer spending. So you 736 00:37:39,600 --> 00:37:41,840 Speaker 1: have a reduction in consumer spending, you have a dramatic 737 00:37:42,239 --> 00:37:45,279 Speaker 1: increase into the basic staples. And it's going to be 738 00:37:45,280 --> 00:37:48,040 Speaker 1: tough out there. Yeah, it is. And I don't want 739 00:37:48,040 --> 00:37:50,600 Speaker 1: to let this political point go because I think it's 740 00:37:50,640 --> 00:37:56,000 Speaker 1: really important for people to understand this. When Democrats lifted 741 00:37:56,000 --> 00:37:59,399 Speaker 1: the minimum wage back, god that was a long time. 742 00:38:00,320 --> 00:38:03,560 Speaker 1: I think that's right to seven dollars and twenty five cents. 743 00:38:04,200 --> 00:38:08,799 Speaker 1: They could have passed an automatic stabilize, an automatic adjustment 744 00:38:08,880 --> 00:38:11,239 Speaker 1: so that as the cost of living went up, guess what, 745 00:38:11,400 --> 00:38:14,000 Speaker 1: the minimum wage goes up along with it, which makes 746 00:38:14,239 --> 00:38:17,080 Speaker 1: all the sense in the world. But then you don't 747 00:38:17,120 --> 00:38:19,239 Speaker 1: have the minimum wage as an issue that you can 748 00:38:19,360 --> 00:38:23,279 Speaker 1: use politically, and so they would rather use it as 749 00:38:23,320 --> 00:38:27,600 Speaker 1: an issue than actually solve the problem and get people 750 00:38:27,800 --> 00:38:32,080 Speaker 1: the wages that they need. It's the same story here 751 00:38:32,239 --> 00:38:35,279 Speaker 1: with the child tax credit. They could have passed it 752 00:38:35,400 --> 00:38:38,640 Speaker 1: for a longer period of time, and you can see 753 00:38:38,800 --> 00:38:42,279 Speaker 1: that this was massively beneficial. They did not do a 754 00:38:42,280 --> 00:38:45,959 Speaker 1: good job selling their role in actually getting this money 755 00:38:46,000 --> 00:38:48,040 Speaker 1: to families, but you could see once it was taken away, 756 00:38:48,280 --> 00:38:50,799 Speaker 1: families shifted from Democrats to Republicans, so it obviously had 757 00:38:50,800 --> 00:38:54,400 Speaker 1: a political impact here as well. But they didn't do 758 00:38:54,440 --> 00:38:56,279 Speaker 1: that because they thought, you know, this would be a 759 00:38:56,280 --> 00:38:59,480 Speaker 1: good way to play a political game and to use 760 00:38:59,480 --> 00:39:01,920 Speaker 1: the issue to their advantage in the midterms, and in 761 00:39:02,000 --> 00:39:04,800 Speaker 1: the end that didn't work out for them whatsoever either. 762 00:39:04,960 --> 00:39:08,400 Speaker 1: So I think that understanding the sort of tricks that 763 00:39:08,440 --> 00:39:12,120 Speaker 1: they use here is also really important part of this story. 764 00:39:15,120 --> 00:39:17,799 Speaker 1: We have another economic story for you that shows you 765 00:39:18,480 --> 00:39:21,880 Speaker 1: just how hard people are getting squeezed, especially when it 766 00:39:21,920 --> 00:39:25,240 Speaker 1: comes to the housing market. Kind of put this tweet 767 00:39:25,239 --> 00:39:29,160 Speaker 1: from Jeff Stein up on the screen. He's linking here 768 00:39:29,200 --> 00:39:32,680 Speaker 1: to a story about mobile home parks that he says 769 00:39:32,719 --> 00:39:36,000 Speaker 1: park rents are doubling or tripling as high demand, low inventory, 770 00:39:36,040 --> 00:39:38,839 Speaker 1: and arise in corporate owners take a toll on one 771 00:39:38,880 --> 00:39:43,200 Speaker 1: of the nation's biggest sources of affordable housing. There's a 772 00:39:43,200 --> 00:39:46,240 Speaker 1: lot of stats in this article here that are worth 773 00:39:46,480 --> 00:39:49,800 Speaker 1: going through. First of all, rising demand for affordable housing 774 00:39:49,960 --> 00:39:53,440 Speaker 1: has while it has increased housing prices across the board, 775 00:39:54,120 --> 00:39:58,960 Speaker 1: mobile home prices have skyrocketed. They rose nearly fifty percent 776 00:39:59,040 --> 00:40:01,880 Speaker 1: during the pandemic from eighty two thousand to one hundred 777 00:40:01,880 --> 00:40:06,480 Speaker 1: and twenty three thousand for a mobile home. Crazy. Land 778 00:40:06,520 --> 00:40:08,680 Speaker 1: prices are going up, housing costs are growing up, and 779 00:40:08,719 --> 00:40:12,040 Speaker 1: that's spilling into mobile homes. One expert said, there's a 780 00:40:12,080 --> 00:40:15,160 Speaker 1: shortage overall of affordable housing, particularly in cities and the 781 00:40:15,200 --> 00:40:17,719 Speaker 1: suburbs around them. So what happens is when you have 782 00:40:17,840 --> 00:40:22,160 Speaker 1: this squeeze that's happening at all levels, people who are 783 00:40:22,200 --> 00:40:26,080 Speaker 1: in the most vulnerable positions, especially in these mobile home parks, 784 00:40:26,400 --> 00:40:29,080 Speaker 1: they're getting squeezed to the point that many of them 785 00:40:29,200 --> 00:40:33,000 Speaker 1: are facing eviction and facing homelessness. Now, one thing to 786 00:40:33,120 --> 00:40:38,000 Speaker 1: understand about this market, Sager, is that while the individual 787 00:40:38,080 --> 00:40:43,080 Speaker 1: resident may own the mobile home itself, they typically don't 788 00:40:43,160 --> 00:40:47,719 Speaker 1: own the land under the mobile home, and so they 789 00:40:47,840 --> 00:40:51,359 Speaker 1: still have a landlord. Those parks are being increasingly bought 790 00:40:51,440 --> 00:40:54,560 Speaker 1: up by permanent capital. Once they come in, they jack 791 00:40:54,680 --> 00:40:58,040 Speaker 1: up the land rent prices and make it so that 792 00:40:58,080 --> 00:41:00,279 Speaker 1: people many times who are on fixed income, who are 793 00:41:00,400 --> 00:41:03,680 Speaker 1: you know, low income or working low wage jobs, can't 794 00:41:03,719 --> 00:41:07,000 Speaker 1: afford the rent. But even though they own their home, 795 00:41:07,400 --> 00:41:10,280 Speaker 1: they can't afford to move it. It can cost fifteen 796 00:41:10,360 --> 00:41:13,680 Speaker 1: thousand dollars just to move this mobile home to potentially 797 00:41:13,719 --> 00:41:19,480 Speaker 1: another more affordable park where the rent might actually be obtainable. 798 00:41:19,800 --> 00:41:22,359 Speaker 1: In some instances, if you have an older mobile home, 799 00:41:22,480 --> 00:41:25,919 Speaker 1: it's not possible to move it at all, so these 800 00:41:26,040 --> 00:41:30,920 Speaker 1: landlords have them held hostage. Now there's very little data 801 00:41:30,960 --> 00:41:35,000 Speaker 1: about how much rents have actually been increased. This is 802 00:41:35,080 --> 00:41:38,400 Speaker 1: part of like the sneering contempt we have for mobile 803 00:41:38,400 --> 00:41:40,480 Speaker 1: home parks that we don't even bother to track this. 804 00:41:40,880 --> 00:41:44,879 Speaker 1: It's not regulating these rent increases. There's no transparency all 805 00:41:44,880 --> 00:41:47,840 Speaker 1: of those things. But the Washington Post interviewed a dozen 806 00:41:47,880 --> 00:41:50,680 Speaker 1: mobile home residents around the country. Everyone said their rents 807 00:41:50,719 --> 00:41:53,520 Speaker 1: had risen this year. Most reported increases of ten to 808 00:41:53,520 --> 00:41:57,240 Speaker 1: twenty five percent, extremely significant, but some said monthly payments 809 00:41:57,280 --> 00:42:01,080 Speaker 1: had doubled or tripled. Their options were increasingly limited too. 810 00:42:01,120 --> 00:42:03,440 Speaker 1: Many said they had bought trailers after they were priced 811 00:42:03,440 --> 00:42:06,280 Speaker 1: out of apartments. So again they're pushed down and pushed 812 00:42:06,280 --> 00:42:09,520 Speaker 1: down and pushed down. That they were now unsure of 813 00:42:09,560 --> 00:42:11,759 Speaker 1: where to go next. They'd use their savings to take 814 00:42:11,800 --> 00:42:15,080 Speaker 1: on high interest loans to buy manufactured homes with little 815 00:42:15,120 --> 00:42:19,280 Speaker 1: resale value. Some were considering moving into motels, crashing with friends, 816 00:42:19,360 --> 00:42:21,440 Speaker 1: or living in their cars until they could find a 817 00:42:21,520 --> 00:42:26,839 Speaker 1: more permanent arrangement. Private equity firms including Stockbridge Capital, Carlisle Group, 818 00:42:26,960 --> 00:42:29,719 Speaker 1: Pollo Global Management have been rapidly buying up mobile home 819 00:42:29,760 --> 00:42:33,359 Speaker 1: parks over the last decade, often using funding from the 820 00:42:33,400 --> 00:42:37,879 Speaker 1: government sponsored lenders Fannie May and Fredi Mac. So these 821 00:42:37,920 --> 00:42:41,239 Speaker 1: people are literally held hostage in these homes. It's not 822 00:42:41,440 --> 00:42:45,000 Speaker 1: like you know, when you buy not manufactured home or 823 00:42:45,280 --> 00:42:46,799 Speaker 1: I don't want to call it a regular home, but 824 00:42:47,520 --> 00:42:51,120 Speaker 1: not manufactured home. There's this expectation the price, the value 825 00:42:51,160 --> 00:42:53,120 Speaker 1: was going to go up, that that's going to contribute 826 00:42:53,160 --> 00:42:55,360 Speaker 1: to your savings, that's going to contribute to your net worth. 827 00:42:55,719 --> 00:42:58,040 Speaker 1: Not the case with these mobile homes where the value 828 00:42:58,080 --> 00:43:01,080 Speaker 1: goes down, where they're subject to these, like you serious, 829 00:43:01,480 --> 00:43:04,200 Speaker 1: very high interest loans and then they're held hostage for 830 00:43:04,280 --> 00:43:06,239 Speaker 1: these rents in these mobile home parks. Look, people are 831 00:43:06,239 --> 00:43:07,719 Speaker 1: buying it. By the way, is something wrong with living 832 00:43:07,760 --> 00:43:10,759 Speaker 1: in mowhome. It's only one hundred and twenty thousand dollars fun, 833 00:43:10,800 --> 00:43:12,719 Speaker 1: that's great, and for a lot of these people you 834 00:43:12,800 --> 00:43:16,319 Speaker 1: can own their actual place, and most of them did 835 00:43:16,320 --> 00:43:19,080 Speaker 1: so based upon what I was reading on having a 836 00:43:19,080 --> 00:43:20,920 Speaker 1: low cash burn rate, which is that there are a 837 00:43:21,000 --> 00:43:23,200 Speaker 1: lot of them run social Security right on fixed income. 838 00:43:23,360 --> 00:43:25,520 Speaker 1: They're like, look, I made eight hundred and sixty bucks 839 00:43:25,680 --> 00:43:28,759 Speaker 1: a month in Social Security. Their burn rate, they had 840 00:43:28,760 --> 00:43:30,640 Speaker 1: it all planned out. They're like three p fifty. That 841 00:43:30,719 --> 00:43:33,160 Speaker 1: gives me three hundred to rent six hundred. I don't 842 00:43:33,200 --> 00:43:35,040 Speaker 1: know how you live on six hundred dollars, but that's 843 00:43:35,280 --> 00:43:37,400 Speaker 1: extraordinarily difficult, I think for a lot of people. But 844 00:43:37,400 --> 00:43:39,560 Speaker 1: they were making it work, and now their overall rent 845 00:43:39,640 --> 00:43:41,839 Speaker 1: is one thousand, so on that fixed income. She literally goes, 846 00:43:41,920 --> 00:43:43,560 Speaker 1: I can't make the math. You die. I don't know 847 00:43:43,600 --> 00:43:45,360 Speaker 1: what to do. I either have to sell it, but 848 00:43:45,400 --> 00:43:47,160 Speaker 1: I have no cash because I use it all to 849 00:43:47,200 --> 00:43:49,520 Speaker 1: buy this. I think the private equity point is very important, 850 00:43:49,560 --> 00:43:51,560 Speaker 1: which is that there's two options for them. They can 851 00:43:51,600 --> 00:43:53,840 Speaker 1: both jack up the rent so they'll squeeze more money 852 00:43:54,000 --> 00:43:56,319 Speaker 1: out of the existing plot, or they can just force 853 00:43:56,360 --> 00:43:58,200 Speaker 1: everybody out. And they want to develop us all this 854 00:43:58,239 --> 00:44:01,680 Speaker 1: stuff into timeshare into an amusement park, is what they 855 00:44:01,680 --> 00:44:04,719 Speaker 1: were saying within here. But it just goes you're up 856 00:44:04,800 --> 00:44:09,200 Speaker 1: against really titanic massive forces which are able to pay 857 00:44:09,880 --> 00:44:12,759 Speaker 1: very very low amounts and get low interest rates from 858 00:44:12,760 --> 00:44:14,839 Speaker 1: the government that they can buy your land and then 859 00:44:14,840 --> 00:44:18,360 Speaker 1: squeeze you on the promise of quote unquote developing. And 860 00:44:18,400 --> 00:44:20,879 Speaker 1: I think that this is why you have a lot 861 00:44:20,920 --> 00:44:24,000 Speaker 1: of skepticism across the country of outside capital coming in 862 00:44:24,280 --> 00:44:26,160 Speaker 1: to try and develop any land. And actually, if you 863 00:44:26,160 --> 00:44:28,640 Speaker 1: care about housing, if you really do care about housing, 864 00:44:28,800 --> 00:44:31,439 Speaker 1: you don't want that to become a political trope, which 865 00:44:31,440 --> 00:44:33,000 Speaker 1: I think it is. This is something that you n be. 866 00:44:33,000 --> 00:44:35,560 Speaker 1: People are always they're like, oh, people are always against developing. 867 00:44:35,560 --> 00:44:37,560 Speaker 1: I'm like, listen, you need to understand that there's a 868 00:44:37,600 --> 00:44:39,720 Speaker 1: lot of sharks out there in the real estate market. 869 00:44:39,760 --> 00:44:42,279 Speaker 1: And when you hear that somebody's coming in, this is 870 00:44:42,320 --> 00:44:44,680 Speaker 1: exactly the type of stuff that a lot of people do. 871 00:44:44,800 --> 00:44:47,400 Speaker 1: It really is terrible because you can just see like 872 00:44:47,719 --> 00:44:49,799 Speaker 1: a lot of these people are seniors. They're kind of 873 00:44:49,800 --> 00:44:52,359 Speaker 1: in the twilight years, and they really thought they had 874 00:44:52,400 --> 00:44:56,120 Speaker 1: it made. And I mean, could anybody really survive a 875 00:44:56,160 --> 00:44:58,360 Speaker 1: fifty to one hundred percent increase in their living situation 876 00:44:58,480 --> 00:45:02,880 Speaker 1: in a single year. That's nuts. Most people cannot do that, 877 00:45:03,000 --> 00:45:05,120 Speaker 1: and I don't think they should have to. And they're 878 00:45:05,120 --> 00:45:07,880 Speaker 1: in this position where they've you know, either take it 879 00:45:07,920 --> 00:45:10,520 Speaker 1: on these high interest loans to buy the mobile home, 880 00:45:10,880 --> 00:45:14,279 Speaker 1: or they put like all their life savings into by 881 00:45:14,520 --> 00:45:18,120 Speaker 1: thinking like I'm going to own my home. Well now 882 00:45:18,360 --> 00:45:22,200 Speaker 1: they're stuck like they can't do anything because they can't 883 00:45:22,239 --> 00:45:24,520 Speaker 1: they don't have the money to move it. In some 884 00:45:24,560 --> 00:45:27,439 Speaker 1: instances they can't move it, and so all they could 885 00:45:27,480 --> 00:45:29,920 Speaker 1: do if they get priced out because of the land 886 00:45:29,960 --> 00:45:33,520 Speaker 1: rent is walk away. And again I think that because 887 00:45:33,560 --> 00:45:37,680 Speaker 1: we are such a classist society, there are so little 888 00:45:37,880 --> 00:45:42,480 Speaker 1: interest in regulating this market, making sure it's fair for 889 00:45:43,120 --> 00:45:47,000 Speaker 1: these homeowners and that they're able to stay where they are. 890 00:45:47,120 --> 00:45:50,240 Speaker 1: There's they're trying in Vermont, they they've tried. They passed 891 00:45:50,239 --> 00:45:52,880 Speaker 1: a couple of things like if someone private equity or 892 00:45:52,920 --> 00:45:54,399 Speaker 1: whatever is going to come in from the outside, by 893 00:45:54,400 --> 00:45:57,719 Speaker 1: the community, that you have the ability to buy your 894 00:45:57,760 --> 00:46:01,360 Speaker 1: lot first, which at least is an improvement, But that 895 00:46:01,520 --> 00:46:05,960 Speaker 1: still seems to me like a really inadequate solution here ultimately, 896 00:46:06,040 --> 00:46:07,799 Speaker 1: and look, it's part of a broader trend. It's not 897 00:46:07,880 --> 00:46:11,800 Speaker 1: just mobile homes. We've tracked here, how permanent capitals coming 898 00:46:11,800 --> 00:46:14,800 Speaker 1: into the single family market in a big way. I 899 00:46:14,840 --> 00:46:17,200 Speaker 1: mean some markets they make up like a quarter to 900 00:46:17,320 --> 00:46:21,399 Speaker 1: a third of the new purchasers. In some instances, they've 901 00:46:21,400 --> 00:46:25,120 Speaker 1: bought entire communities. Oftentimes it's not to flip those houses, 902 00:46:25,120 --> 00:46:28,000 Speaker 1: it's to turn them into rentals, so that increasingly that 903 00:46:28,120 --> 00:46:31,799 Speaker 1: American dream, the path to middle class prosperity and stability 904 00:46:31,880 --> 00:46:34,000 Speaker 1: of owning your own home and seeing the value of 905 00:46:34,040 --> 00:46:38,200 Speaker 1: that increase and provide you some level of net worth, 906 00:46:39,040 --> 00:46:42,920 Speaker 1: net wealth that's being taken off the table by permanent capital. 907 00:46:43,000 --> 00:46:46,120 Speaker 1: So you can see the way that this squeeze happens 908 00:46:46,160 --> 00:46:49,520 Speaker 1: at every end of the spectrum. And people who were 909 00:46:49,640 --> 00:46:53,000 Speaker 1: in the most affordable housing solutions, who had already been 910 00:46:53,040 --> 00:46:55,560 Speaker 1: pushed out of every other option, well now they're just 911 00:46:55,560 --> 00:46:58,200 Speaker 1: being pushed onto the street. Yeah, it really is. It's 912 00:46:58,560 --> 00:47:01,080 Speaker 1: it's a tough situation, and it just shows you how 913 00:47:01,080 --> 00:47:04,759 Speaker 1: the housing market is squeezing people at all levels. And 914 00:47:04,880 --> 00:47:07,759 Speaker 1: just because you know, you have housing prices that can 915 00:47:08,000 --> 00:47:10,200 Speaker 1: you know, this is something that we should talk about more. 916 00:47:10,360 --> 00:47:12,320 Speaker 1: Something I've heard more about, which is that the higher 917 00:47:12,320 --> 00:47:15,200 Speaker 1: that mortgage rates go up, that's maybe a good thing 918 00:47:15,239 --> 00:47:18,120 Speaker 1: in terms of cooling down the price of an actual home, right, 919 00:47:18,160 --> 00:47:20,520 Speaker 1: but what is doing is juicing the existing rental market 920 00:47:20,600 --> 00:47:23,200 Speaker 1: because you're making it so that people cannot afford to buy, 921 00:47:23,280 --> 00:47:26,600 Speaker 1: so you're actually increasing rent prices across the board. This 922 00:47:26,680 --> 00:47:29,279 Speaker 1: explains why in New York City and in many other 923 00:47:29,360 --> 00:47:32,120 Speaker 1: urban areas you're seeing high rent inflation. But the higher 924 00:47:32,160 --> 00:47:34,800 Speaker 1: rent inflation that you push, obviously that's going to have 925 00:47:34,840 --> 00:47:37,799 Speaker 1: a disproportionate impact actually on poor people. So you know, 926 00:47:37,840 --> 00:47:39,440 Speaker 1: you can cool the housing market, but you may actually 927 00:47:39,480 --> 00:47:42,080 Speaker 1: juice the rental market because of existing housing stock. I 928 00:47:42,080 --> 00:47:44,879 Speaker 1: think this is probably another situation where yeah be happening. Yes, 929 00:47:45,000 --> 00:47:49,120 Speaker 1: we need to dramatically expand our stock of affordable housing 930 00:47:49,320 --> 00:47:53,279 Speaker 1: number one, and we need to massively regulate, if not 931 00:47:53,520 --> 00:47:57,160 Speaker 1: ban a permanent capital from getting into this game. I mean, 932 00:47:57,400 --> 00:47:59,880 Speaker 1: maybe you have a law I've seen this explored before 933 00:48:00,120 --> 00:48:05,240 Speaker 1: where if there isn't an individual buyer for the home, 934 00:48:05,640 --> 00:48:09,959 Speaker 1: then you allow the vultures in, but you know they're 935 00:48:09,960 --> 00:48:12,759 Speaker 1: put doubt pushed down the list because then if you 936 00:48:12,840 --> 00:48:15,359 Speaker 1: have you know that also lessons demand. If you take 937 00:48:15,400 --> 00:48:17,560 Speaker 1: those players off the table, are contributing to like twenty 938 00:48:17,600 --> 00:48:20,200 Speaker 1: thirty percent of the market right now, and that also 939 00:48:20,280 --> 00:48:23,560 Speaker 1: happens helps to cool the market without jacking up rates 940 00:48:23,600 --> 00:48:26,960 Speaker 1: and making prices so much more expensive and out of 941 00:48:27,000 --> 00:48:29,400 Speaker 1: reach for so many more families, and putting pressure on 942 00:48:29,440 --> 00:48:32,560 Speaker 1: affordable housing and rent. So there are things we could 943 00:48:32,560 --> 00:48:35,520 Speaker 1: do that don't involve just like screwing over regular people. 944 00:48:35,600 --> 00:48:38,319 Speaker 1: But we seem to have no political imagination about any 945 00:48:38,360 --> 00:48:43,320 Speaker 1: of those things. Speaking of screwing over workers and regular people, Starbucks, 946 00:48:43,400 --> 00:48:48,000 Speaker 1: li'll update for you, of course, the Starbucks union workers united. 947 00:48:48,080 --> 00:48:51,400 Speaker 1: They have been romping in union elections across the country. 948 00:48:51,520 --> 00:48:54,040 Speaker 1: I mean, well over one hundred stores have unionized now. 949 00:48:54,080 --> 00:48:57,520 Speaker 1: It is extraordinary. And Starbucks, we've been reporting, has been 950 00:48:57,560 --> 00:49:00,440 Speaker 1: completely freaking out about this. They brought Howard Schultz back in, 951 00:49:00,600 --> 00:49:03,560 Speaker 1: they fired a number of people, including some of the 952 00:49:03,600 --> 00:49:07,040 Speaker 1: people leading their union busting response. It's clearly not gone 953 00:49:07,120 --> 00:49:09,239 Speaker 1: well for them. Howard Schultz say it was like an 954 00:49:09,280 --> 00:49:12,480 Speaker 1: invasion or assault, that was the word you used, this 955 00:49:12,680 --> 00:49:18,080 Speaker 1: union assault on Starbucks. Well, they now have escalated to 956 00:49:18,280 --> 00:49:22,640 Speaker 1: a new tactic, effectively declaring all out war on the union. 957 00:49:22,680 --> 00:49:26,840 Speaker 1: Put this up on the screen by closing one of 958 00:49:26,880 --> 00:49:30,960 Speaker 1: the cafes that unionized. This according to a Bloomberg report, 959 00:49:31,200 --> 00:49:36,719 Speaker 1: the union says that this is obvious retaliation that they 960 00:49:36,760 --> 00:49:39,279 Speaker 1: and they didn't just say this, they actually filed that 961 00:49:39,320 --> 00:49:43,120 Speaker 1: allegation with the National Labor Relations Board. This is a 962 00:49:43,520 --> 00:49:47,479 Speaker 1: store that unionized in April. It's located in Ifhaca, New York. 963 00:49:47,719 --> 00:49:50,560 Speaker 1: They're asking the NLRB to seek a federal court injunction 964 00:49:50,680 --> 00:49:54,600 Speaker 1: to quickly prevent or reverse the store closure. So we've 965 00:49:54,600 --> 00:49:58,400 Speaker 1: had over around one hundred Starbucks cafes a voter to 966 00:49:58,480 --> 00:50:00,640 Speaker 1: union it is actually more than that. Now only fourteen 967 00:50:00,680 --> 00:50:05,040 Speaker 1: have voted against unionizing. So Starbucks desperate to do something 968 00:50:05,080 --> 00:50:08,480 Speaker 1: here to stop this trend in this landslide in favor 969 00:50:08,520 --> 00:50:11,680 Speaker 1: of unionization within their stores. And part of why we 970 00:50:11,840 --> 00:50:14,720 Speaker 1: know this is retaliation and not just you know, normal 971 00:50:14,840 --> 00:50:18,279 Speaker 1: like obviously sometimes Starbucks stores close, is because put this 972 00:50:18,360 --> 00:50:21,000 Speaker 1: up on the screen from a more perfect union. They 973 00:50:21,040 --> 00:50:24,120 Speaker 1: obtained the email that was sent to unionize Starbucks workers 974 00:50:24,120 --> 00:50:26,880 Speaker 1: in Ithaca that announced the closure of their store. And 975 00:50:27,000 --> 00:50:29,160 Speaker 1: guess what was sent from It was not actually sent 976 00:50:29,200 --> 00:50:32,640 Speaker 1: from Starbucks. It was sent from their union busting lawyer 977 00:50:33,120 --> 00:50:37,960 Speaker 1: who handles union negotiations. So they're bringing it. They're like 978 00:50:38,200 --> 00:50:40,479 Speaker 1: using the union busters to close the store. That tells 979 00:50:40,480 --> 00:50:42,759 Speaker 1: you everything you need to know about what this is 980 00:50:42,800 --> 00:50:45,520 Speaker 1: actually all about. And we've seen this be successful in 981 00:50:45,520 --> 00:50:48,120 Speaker 1: the past Soger where at other companies I think as 982 00:50:48,160 --> 00:50:50,680 Speaker 1: Dollar General who did this as the story, you know, 983 00:50:50,880 --> 00:50:52,520 Speaker 1: they want to put the fear of God into these 984 00:50:52,560 --> 00:50:55,680 Speaker 1: workers that hey, if you vote to unionize, your store 985 00:50:55,719 --> 00:50:57,480 Speaker 1: could be next. You could be on in the street 986 00:50:57,520 --> 00:50:59,879 Speaker 1: and without a job like that, because we still hold 987 00:51:00,080 --> 00:51:01,960 Speaker 1: the cards and have all the power. I think the fact, well, 988 00:51:02,040 --> 00:51:04,279 Speaker 1: the fact that it was Ithica and that it was 989 00:51:04,360 --> 00:51:07,160 Speaker 1: at one of the original places with unionization, I think 990 00:51:07,239 --> 00:51:11,839 Speaker 1: is a major show of force against the workers by 991 00:51:11,880 --> 00:51:14,319 Speaker 1: the company. And my great fear, as I was talking 992 00:51:14,360 --> 00:51:18,000 Speaker 1: about earlier, is yes, the labor market market is hot. Yes, 993 00:51:18,040 --> 00:51:20,839 Speaker 1: it was a great time really in order to go 994 00:51:20,920 --> 00:51:23,160 Speaker 1: and to try and form a union. But the more 995 00:51:23,320 --> 00:51:25,920 Speaker 1: into recession that you go, the more excuse that they 996 00:51:25,960 --> 00:51:29,040 Speaker 1: have to just crack down as much as possible. All 997 00:51:29,040 --> 00:51:31,359 Speaker 1: they have. All you need is a single down quarter 998 00:51:31,760 --> 00:51:34,520 Speaker 1: and down in the stock for the company to just 999 00:51:34,560 --> 00:51:37,160 Speaker 1: go full fledged. And I'm not saying they haven't necessarily 1000 00:51:37,280 --> 00:51:40,160 Speaker 1: even already done that, but that just makes it so 1001 00:51:40,280 --> 00:51:43,000 Speaker 1: that people it will get lost in the noise, I think, 1002 00:51:43,080 --> 00:51:47,600 Speaker 1: and that is a fear. Workers will be more vulnerable 1003 00:51:47,640 --> 00:51:50,440 Speaker 1: to these types of threats because way more right now. 1004 00:51:51,239 --> 00:51:54,799 Speaker 1: You have issues with inflation and wages not keeping up, 1005 00:51:54,840 --> 00:51:57,120 Speaker 1: so people are getting a pay cut every month. So 1006 00:51:57,280 --> 00:51:59,880 Speaker 1: there aren't enough good jobs, but there are a lot 1007 00:51:59,880 --> 00:52:03,680 Speaker 1: of jobs. So when you you know, were threatening, they 1008 00:52:03,719 --> 00:52:07,680 Speaker 1: also they fired workers. Actually, Leyla who we had on 1009 00:52:07,680 --> 00:52:10,000 Speaker 1: this show, she faces, She's got her court hearing this 1010 00:52:10,040 --> 00:52:12,040 Speaker 1: week to see if she gets reinstated to her job 1011 00:52:12,080 --> 00:52:14,480 Speaker 1: because she alleges and the union alleges that she was 1012 00:52:14,520 --> 00:52:17,439 Speaker 1: illegally fired. Their number of other there's a Memphis seven 1013 00:52:17,480 --> 00:52:20,120 Speaker 1: that also they allege were illegally fired. They have their 1014 00:52:20,280 --> 00:52:22,120 Speaker 1: court hearings I think coming up this week as what 1015 00:52:22,480 --> 00:52:25,600 Speaker 1: maybe even today actually for those hearings as well. But 1016 00:52:26,320 --> 00:52:28,759 Speaker 1: they've already they've fired workers to try to take an 1017 00:52:28,800 --> 00:52:31,279 Speaker 1: example of them and scare people and freak them out. 1018 00:52:31,400 --> 00:52:34,640 Speaker 1: Remember he tried this ploy too, which I assume they're 1019 00:52:34,680 --> 00:52:37,319 Speaker 1: still going through with. We're going to give all the 1020 00:52:37,480 --> 00:52:42,600 Speaker 1: other workers benefits increase and we've got new goodies for them. 1021 00:52:42,680 --> 00:52:45,319 Speaker 1: But if you're a union, sorry, you're left out of that. 1022 00:52:45,520 --> 00:52:49,319 Speaker 1: Also probably illegal, but yet another union busting tactic because 1023 00:52:49,320 --> 00:52:51,080 Speaker 1: what they try to say is, oh, if you unionize, 1024 00:52:51,160 --> 00:52:52,640 Speaker 1: you may lose some of the good things that you 1025 00:52:52,680 --> 00:52:56,239 Speaker 1: already have. That is almost never the case, and but 1026 00:52:56,239 --> 00:52:58,760 Speaker 1: they're trying to make that reality, even though they're probably 1027 00:52:58,760 --> 00:53:00,840 Speaker 1: doing that illegally. And so this is the next step 1028 00:53:00,880 --> 00:53:04,200 Speaker 1: in the escalatory chain. None of those things has worked, 1029 00:53:04,560 --> 00:53:07,800 Speaker 1: none of them have slowed the momentum whatsoever. I saw yesterday, 1030 00:53:07,840 --> 00:53:10,440 Speaker 1: I think four five six something like that new Starbucks 1031 00:53:10,560 --> 00:53:14,080 Speaker 1: union's form just yesterday, voted to unionize, just yesterday. So 1032 00:53:14,239 --> 00:53:17,759 Speaker 1: this is the next step. All Right, you didn't take it, 1033 00:53:17,880 --> 00:53:20,160 Speaker 1: you didn't do any you know, it didn't stop when 1034 00:53:20,200 --> 00:53:23,360 Speaker 1: we fired workers, didn't stop when we said union workers, 1035 00:53:23,360 --> 00:53:26,040 Speaker 1: you're not getting these benefits that other Starbucks workers are. 1036 00:53:26,480 --> 00:53:29,120 Speaker 1: What if we actually just close the store, just shudder 1037 00:53:29,120 --> 00:53:31,960 Speaker 1: the whole thing, just to send a message and send 1038 00:53:31,960 --> 00:53:34,080 Speaker 1: a shock wave through the movement. So I still don't 1039 00:53:34,080 --> 00:53:36,040 Speaker 1: think it will work because of where the labor market 1040 00:53:36,080 --> 00:53:38,440 Speaker 1: is right now. But you're one hundred percent correct. As 1041 00:53:38,480 --> 00:53:41,960 Speaker 1: the economy turns, these sort of threats, this sort of bullying, 1042 00:53:41,960 --> 00:53:45,000 Speaker 1: these sort of illegal union busting tactics, they grow more 1043 00:53:45,120 --> 00:53:48,160 Speaker 1: and more potent the more desperate the workforce. Ultimately is 1044 00:53:48,320 --> 00:53:50,359 Speaker 1: I mean, Starbucks really wants to make the case that 1045 00:53:50,480 --> 00:53:56,960 Speaker 1: closing a Starbucks on Cornell University campus makes business sense, right, right. 1046 00:53:57,440 --> 00:53:59,920 Speaker 1: I've seen Starbucks and strip malls, which in everybody know 1047 00:54:00,040 --> 00:54:02,120 Speaker 1: what he goes to, and that place is somehow still 1048 00:54:02,320 --> 00:54:04,880 Speaker 1: in business, but not on a university that seems like 1049 00:54:05,120 --> 00:54:09,120 Speaker 1: the best possible place, stares Starbucks. Whatever. Okay, let's go 1050 00:54:09,120 --> 00:54:11,080 Speaker 1: ahead to the Washington Post. Lots of Washington posts in 1051 00:54:11,120 --> 00:54:15,120 Speaker 1: the show today. Unfortunately for them, I guess, fortunately for us, 1052 00:54:15,200 --> 00:54:17,520 Speaker 1: we wanted to follow up here on that Amber Heerd 1053 00:54:17,920 --> 00:54:20,920 Speaker 1: op ed in the Washington Post, which really does matter 1054 00:54:20,960 --> 00:54:25,239 Speaker 1: from a media perspective if we consider the circumstances. Amberhard 1055 00:54:25,400 --> 00:54:28,560 Speaker 1: promised a three point five million dollar donation, and I 1056 00:54:28,600 --> 00:54:30,839 Speaker 1: say promised because she's never actually ended up paying up 1057 00:54:31,040 --> 00:54:36,919 Speaker 1: to the ACLU now the American Civil Liberties Union now 1058 00:54:37,040 --> 00:54:41,479 Speaker 1: the ACLU then ghost wrote an op ed for her 1059 00:54:41,880 --> 00:54:45,440 Speaker 1: and placed it in The Washington Post using their connections, 1060 00:54:45,480 --> 00:54:49,640 Speaker 1: in which they portrayed Amberherd as a victim of domestic abuse. 1061 00:54:50,000 --> 00:54:53,640 Speaker 1: That was eventually found to be the defamatory claim by 1062 00:54:53,680 --> 00:54:56,840 Speaker 1: the jury in the Herd in the Depth Versus Herd trial, 1063 00:54:57,080 --> 00:55:00,200 Speaker 1: where they found that Amber heard and really by proc 1064 00:55:00,280 --> 00:55:03,920 Speaker 1: the ACOLU did defame Johnny Depp in that op ed, 1065 00:55:04,080 --> 00:55:06,719 Speaker 1: and really it's clear that Amberhard was doing all of 1066 00:55:06,760 --> 00:55:09,759 Speaker 1: this for social clout to try and paint herself as 1067 00:55:09,760 --> 00:55:13,200 Speaker 1: a victim. Now, a lot has been made here of 1068 00:55:14,120 --> 00:55:16,719 Speaker 1: Depp and heard in the circumstances, but not a lot 1069 00:55:16,719 --> 00:55:19,320 Speaker 1: has been made here about the Washington Post, which eventually 1070 00:55:19,480 --> 00:55:22,840 Speaker 1: found itself as a patsy by being played by the 1071 00:55:22,880 --> 00:55:26,759 Speaker 1: ACLU and printing what a jury in Virginia has now 1072 00:55:26,800 --> 00:55:30,319 Speaker 1: found to be a defamatory claim. So let's put this 1073 00:55:30,400 --> 00:55:33,840 Speaker 1: up there on the screen. Their own media critic, Eric Wemple, 1074 00:55:33,920 --> 00:55:37,480 Speaker 1: actually criticized the paper for publishing that op ed by 1075 00:55:37,520 --> 00:55:41,520 Speaker 1: the ACLU, and he asked his bosses for comment, since 1076 00:55:41,640 --> 00:55:44,520 Speaker 1: you know, a jury in a court of law found 1077 00:55:44,520 --> 00:55:48,080 Speaker 1: it defamatory. Here was their response. We do not take 1078 00:55:48,160 --> 00:55:53,440 Speaker 1: stands on the opinions shared in our op ed page. Hmm, okay, 1079 00:55:53,920 --> 00:55:59,239 Speaker 1: So the opinion page, which curates opinion and makes it, 1080 00:55:59,440 --> 00:56:02,719 Speaker 1: you know, a actual decision. Every time they solicit an 1081 00:56:02,719 --> 00:56:04,560 Speaker 1: op ed, or accept an op ed, or publish an 1082 00:56:04,600 --> 00:56:08,600 Speaker 1: op ed, they take a stand by elevating that opinion says, 1083 00:56:08,800 --> 00:56:12,520 Speaker 1: we don't take stands on opinions that are shared in 1084 00:56:12,560 --> 00:56:14,440 Speaker 1: our app ed. I mean you would think, no, that 1085 00:56:14,520 --> 00:56:17,280 Speaker 1: at the very least an editor's note should be added 1086 00:56:17,600 --> 00:56:21,360 Speaker 1: to the op ed, that maybe a retraction or a 1087 00:56:21,440 --> 00:56:24,920 Speaker 1: some sort of explanation could be given one they just 1088 00:56:25,000 --> 00:56:29,160 Speaker 1: suspended without paid Dave Weigel for some dumb retweet. Exactly. 1089 00:56:29,560 --> 00:56:32,920 Speaker 1: How about with this? How about the editor who was 1090 00:56:32,960 --> 00:56:36,160 Speaker 1: involved with that. They're good, They're good. They completely failed 1091 00:56:36,200 --> 00:56:39,840 Speaker 1: at their job and allowed a defamatory, illegal op ed 1092 00:56:39,920 --> 00:56:42,080 Speaker 1: to be posted in the pages of the Washington Post. 1093 00:56:42,360 --> 00:56:45,000 Speaker 1: But they're good to go. God forbid, you know, do 1094 00:56:45,080 --> 00:56:48,279 Speaker 1: a wrong retweet, then then there must be hell to pay. 1095 00:56:48,880 --> 00:56:51,160 Speaker 1: I mean, if you read in this too. Eric Wemple, 1096 00:56:51,200 --> 00:56:53,879 Speaker 1: to his own credit, is skating. He goes in here, yeah, 1097 00:56:53,920 --> 00:56:55,840 Speaker 1: he just points out. He's like, this was a terrible 1098 00:56:56,480 --> 00:56:59,880 Speaker 1: op ed. It embraces all the cliches of op ed designs, 1099 00:57:00,000 --> 00:57:03,680 Speaker 1: and it was an assault on journalism, deploying public figures 1100 00:57:03,680 --> 00:57:07,560 Speaker 1: to braid their personal experiences with policy prescriptions. Reads the 1101 00:57:07,600 --> 00:57:10,640 Speaker 1: pieces opening, I was exposed to abuse at a very 1102 00:57:11,040 --> 00:57:13,960 Speaker 1: young age. I knew certain things early on without ever 1103 00:57:14,000 --> 00:57:16,080 Speaker 1: having to be told. At a certain point in her 1104 00:57:16,120 --> 00:57:18,919 Speaker 1: adult life, the op ed states Herd's familiarity with these 1105 00:57:18,920 --> 00:57:22,560 Speaker 1: things deepened. Not once did the op ed mention Dep's name, 1106 00:57:22,600 --> 00:57:25,200 Speaker 1: and the post was not a defendant in Depth's libel suit. 1107 00:57:25,520 --> 00:57:28,240 Speaker 1: But what they point to here is that through the 1108 00:57:28,280 --> 00:57:32,520 Speaker 1: author's strategy and through this promised you know, this promised donation, 1109 00:57:32,680 --> 00:57:35,320 Speaker 1: and which, by the way, the ACLU didn't just say 1110 00:57:35,640 --> 00:57:37,320 Speaker 1: that they were going to place this op ed for her, 1111 00:57:37,400 --> 00:57:40,600 Speaker 1: They made her a quote ambassador for women's rights with 1112 00:57:40,720 --> 00:57:44,960 Speaker 1: a focus on gender based violence. This is reputational laundering, 1113 00:57:45,040 --> 00:57:47,640 Speaker 1: it's money laundering almost in a way. They want a 1114 00:57:47,680 --> 00:57:51,280 Speaker 1: bolster Amberherd's career in Hollywood, and her image is a victim. 1115 00:57:51,320 --> 00:57:54,760 Speaker 1: And by branding her an ACLU ambassador, all you have 1116 00:57:54,840 --> 00:57:56,960 Speaker 1: to do is not even pay. You have to promise 1117 00:57:57,000 --> 00:57:59,360 Speaker 1: to pay three point five million, of which your rich 1118 00:57:59,480 --> 00:58:02,480 Speaker 1: boyfriend and ex husbands are the ones who eventually end 1119 00:58:02,560 --> 00:58:04,120 Speaker 1: up making whole, which I actually think is you know, 1120 00:58:04,280 --> 00:58:08,320 Speaker 1: pretty sex system of validating in terms of the critiques 1121 00:58:08,520 --> 00:58:14,200 Speaker 1: against her, now one we exactly see the ACLU whenever 1122 00:58:14,280 --> 00:58:18,560 Speaker 1: they're pressed, says this in response. As with many advocacy organizations, 1123 00:58:18,600 --> 00:58:22,160 Speaker 1: the ACLU often submits pieces written by a range of 1124 00:58:22,200 --> 00:58:26,200 Speaker 1: external advocates and leaders in support of urgent policy priorities. 1125 00:58:26,360 --> 00:58:29,120 Speaker 1: It's routine for them to submit written pieces in our 1126 00:58:29,120 --> 00:58:34,360 Speaker 1: collaboration with quote artist ambassadors and other high profile individuals 1127 00:58:34,560 --> 00:58:38,520 Speaker 1: who support our work. But again we continue to point 1128 00:58:38,560 --> 00:58:43,560 Speaker 1: to this fact, which is that a jury in Northern Virginia, Fairfax, Virginia, 1129 00:58:43,760 --> 00:58:46,880 Speaker 1: where the Post servers are located, found this to be 1130 00:58:47,120 --> 00:58:51,080 Speaker 1: a defamatory op ed. There has not been any statement 1131 00:58:51,160 --> 00:58:55,400 Speaker 1: yet by The Washington Post about how it will continue 1132 00:58:55,600 --> 00:58:59,320 Speaker 1: to solicit op eds about whether they find it troubling 1133 00:58:59,360 --> 00:59:01,760 Speaker 1: that they have to fail inmatory claim was published within 1134 00:59:01,800 --> 00:59:05,080 Speaker 1: their newspaper, and I honestly think worse for them is 1135 00:59:05,120 --> 00:59:08,240 Speaker 1: that they don't even feel the need or public pressure 1136 00:59:08,280 --> 00:59:11,280 Speaker 1: by the media to say, Hey, what's going on here? 1137 00:59:11,400 --> 00:59:14,520 Speaker 1: What are your internal processes to make sure that this stuff? 1138 00:59:14,800 --> 00:59:17,960 Speaker 1: Do you vet things that people say in your paper? 1139 00:59:18,040 --> 00:59:21,240 Speaker 1: Because if not, that's a problem, what's a serious problem. 1140 00:59:21,320 --> 00:59:24,200 Speaker 1: I thought went Pell made a really good point here, 1141 00:59:24,280 --> 00:59:26,680 Speaker 1: which is he writes they were taking a shortcut to 1142 00:59:26,720 --> 00:59:30,080 Speaker 1: this controversy for going the journalistic effort required to piece 1143 00:59:30,120 --> 00:59:33,120 Speaker 1: together a bona fide, hashtag well tes story. I mean, 1144 00:59:33,320 --> 00:59:36,480 Speaker 1: that's that's kind of the crux of this thing is 1145 00:59:36,760 --> 00:59:40,800 Speaker 1: it's really hard, and it takes a lot of journalistic 1146 00:59:41,080 --> 00:59:44,800 Speaker 1: legwork and time and all times of stories you know 1147 00:59:45,040 --> 00:59:47,400 Speaker 1: you can't get enough sources and you can't ultimately put 1148 00:59:47,440 --> 00:59:50,880 Speaker 1: it out To actually publish something like what Ronan Varo 1149 00:59:51,000 --> 00:59:54,840 Speaker 1: did with Harvey Weinstein takes a lot of work, months 1150 00:59:54,880 --> 00:59:58,920 Speaker 1: of work and digging and piecing it together and getting 1151 00:59:58,960 --> 01:00:01,440 Speaker 1: the sources and make it sure it's vetted, making sure 1152 01:00:01,480 --> 01:00:03,240 Speaker 1: it's backed up and that it's going to stand up 1153 01:00:03,280 --> 01:00:06,880 Speaker 1: to scrutiny. And you go through that whole process knowing 1154 01:00:06,880 --> 01:00:08,960 Speaker 1: the whole time that you may not get there. You 1155 01:00:09,000 --> 01:00:11,880 Speaker 1: may spend months on this thing that you think you've got, 1156 01:00:11,920 --> 01:00:15,320 Speaker 1: but you don't quite have enough to rise the level 1157 01:00:15,360 --> 01:00:19,520 Speaker 1: of publishing in say the Washington Post. Instead, they wanted 1158 01:00:19,560 --> 01:00:22,800 Speaker 1: to take a sort of cheap shortcut and go with 1159 01:00:22,920 --> 01:00:26,720 Speaker 1: this op ed that was completely unvetted, that was really 1160 01:00:26,720 --> 01:00:30,280 Speaker 1: written by the ACLU, but they stuck Amberherd's name on 1161 01:00:30,320 --> 01:00:33,400 Speaker 1: it so that because if the ACLU just wrote some 1162 01:00:33,520 --> 01:00:35,480 Speaker 1: generic thing about me too, of course they're not going 1163 01:00:35,520 --> 01:00:38,959 Speaker 1: to publish that. So they use Amberherd celebrity to get 1164 01:00:38,960 --> 01:00:43,400 Speaker 1: this ultimately published without ultimately vetting the claims. And now 1165 01:00:43,440 --> 01:00:47,480 Speaker 1: that it has been found to be defamatory by a 1166 01:00:47,600 --> 01:00:51,520 Speaker 1: jury in Virginia. They have nothing to say about it, 1167 01:00:51,760 --> 01:00:57,080 Speaker 1: and there's no consequences whatsoever. They're very little curiosity in 1168 01:00:57,520 --> 01:01:00,240 Speaker 1: what happened here or what the relevance might be year 1169 01:01:00,280 --> 01:01:03,000 Speaker 1: how they might handle this going forward from any other 1170 01:01:03,400 --> 01:01:07,400 Speaker 1: corners of the media. So it's one more sign of 1171 01:01:07,760 --> 01:01:10,360 Speaker 1: WAPO and disarray, which I know you're going to get to. Yeah, 1172 01:01:10,640 --> 01:01:12,520 Speaker 1: I'll get into more of that in my monologue, but 1173 01:01:12,520 --> 01:01:14,520 Speaker 1: I do think it is really worth just, you know, 1174 01:01:14,640 --> 01:01:19,040 Speaker 1: rehashing this because obviously this captured the nation's attention. Some 1175 01:01:19,120 --> 01:01:21,760 Speaker 1: people may be never familiar with how an op ed 1176 01:01:22,080 --> 01:01:24,120 Speaker 1: and all that other stuff works, but you see here 1177 01:01:24,680 --> 01:01:29,120 Speaker 1: the true view into the nonprofit nonprofit industrial complex, reputational 1178 01:01:29,160 --> 01:01:32,800 Speaker 1: laundering by celebrities, the way that narcissists can use that 1179 01:01:32,880 --> 01:01:35,680 Speaker 1: in order to wash their own image and bolster it, 1180 01:01:35,720 --> 01:01:37,480 Speaker 1: and frankly, for her own career. We all know this 1181 01:01:37,560 --> 01:01:39,600 Speaker 1: was great for her career until it wasn't until a 1182 01:01:39,640 --> 01:01:42,000 Speaker 1: lot of the truth all came out, and how the 1183 01:01:42,040 --> 01:01:44,000 Speaker 1: mainstream media, the Washington Post of the New York and 1184 01:01:44,280 --> 01:01:46,760 Speaker 1: if you think this doesn't happen over the New York Times, 1185 01:01:46,760 --> 01:01:49,200 Speaker 1: op ed page. You know, I don't even know if 1186 01:01:49,200 --> 01:01:50,640 Speaker 1: I should say this, but you know, whenever the whole, 1187 01:01:50,640 --> 01:01:53,280 Speaker 1: the whole Joe Rogan thing was going on, times reached 1188 01:01:53,280 --> 01:01:54,920 Speaker 1: out to me before and I was like, yeah, whatever. 1189 01:01:55,360 --> 01:01:57,120 Speaker 1: But I was like, hey, okay, I'm here. You know, 1190 01:01:57,160 --> 01:01:59,520 Speaker 1: I actually know I was a guest on a show. 1191 01:01:59,600 --> 01:02:02,640 Speaker 1: I'm like, let me write a piece defending Rogan. They said, 1192 01:02:02,840 --> 01:02:05,480 Speaker 1: we're passing on this one, so I don't have the 1193 01:02:05,480 --> 01:02:08,560 Speaker 1: ACLU behind me. By the way, the ACLU as a 1194 01:02:08,720 --> 01:02:11,760 Speaker 1: people who were supporting free speech, they probably should have 1195 01:02:12,160 --> 01:02:13,640 Speaker 1: gone and pitched something like that, but they're not going 1196 01:02:13,720 --> 01:02:16,400 Speaker 1: to do it. This is the whole other thing that's 1197 01:02:16,400 --> 01:02:19,520 Speaker 1: so sad is the downfall of the ACLU, which is 1198 01:02:19,560 --> 01:02:24,720 Speaker 1: this storied institution which has pissed everybody off at some point. 1199 01:02:25,400 --> 01:02:30,520 Speaker 1: I mean, really just principled in support of civil liberties, 1200 01:02:30,720 --> 01:02:34,720 Speaker 1: freedom of speech, and now they literally stand for nothing. 1201 01:02:34,920 --> 01:02:41,720 Speaker 1: And that part is truly sad. All right, saga, what 1202 01:02:41,760 --> 01:02:43,520 Speaker 1: are you looking at? I regret to inform you all. 1203 01:02:43,600 --> 01:02:46,600 Speaker 1: The Washington Post is added again. Yesterday, we had YouTuber 1204 01:02:46,720 --> 01:02:49,080 Speaker 1: legal Bites on our channel to discuss how Taylor Lorenz 1205 01:02:49,160 --> 01:02:52,240 Speaker 1: smeared her and lied about contacting her for comment. This 1206 01:02:52,360 --> 01:02:54,680 Speaker 1: led to more prolonged lives in their newspaper as they 1207 01:02:54,680 --> 01:02:57,520 Speaker 1: tried to cover up how unprofessional they were, until a 1208 01:02:57,560 --> 01:03:00,680 Speaker 1: major editor's note was added at the top, admitting Taylor 1209 01:03:00,720 --> 01:03:03,840 Speaker 1: Lorenz lied to claim to contact two people for comment 1210 01:03:04,080 --> 01:03:07,800 Speaker 1: despite not doing so. You would think a humiliating incident 1211 01:03:07,880 --> 01:03:11,400 Speaker 1: like that would be enough, but no, the internacine battle 1212 01:03:11,480 --> 01:03:15,000 Speaker 1: has erupted online over a stupid retweet that threatens the 1213 01:03:15,040 --> 01:03:18,760 Speaker 1: integrity of the Post workplace itself. And while yes, I 1214 01:03:18,800 --> 01:03:22,200 Speaker 1: know this can sound pedantic and dumb, the implications of 1215 01:03:22,200 --> 01:03:25,520 Speaker 1: this are legitimately as important. This is the second most 1216 01:03:25,560 --> 01:03:29,040 Speaker 1: powerful newspaper in America. It all started with a retweet 1217 01:03:29,080 --> 01:03:33,000 Speaker 1: by Washington Post political reporter Dave Weigel. He retweeted this 1218 01:03:33,120 --> 01:03:36,680 Speaker 1: joke a saying quote, every girl is by You just 1219 01:03:36,760 --> 01:03:40,640 Speaker 1: have to figure out if it's polar or sexual. I mean, look, 1220 01:03:41,160 --> 01:03:44,240 Speaker 1: it's kind of weird, for sure. It's amusing, I guess 1221 01:03:44,280 --> 01:03:47,240 Speaker 1: in a boomer way. But it's not that bad if 1222 01:03:47,280 --> 01:03:50,160 Speaker 1: you ask me that. However, was a bridge too far 1223 01:03:50,280 --> 01:03:54,520 Speaker 1: for reporter Felicia Somnez. Now she screenshot of that tweet, saying, quote, 1224 01:03:54,720 --> 01:03:58,120 Speaker 1: fantastic to work at a news outlet where retweets like 1225 01:03:58,200 --> 01:04:02,200 Speaker 1: this are allowed. Wow, you're publicly putting your colleague on 1226 01:04:02,320 --> 01:04:05,280 Speaker 1: blast for a bad joke that he didn't even make. 1227 01:04:05,560 --> 01:04:08,400 Speaker 1: That's pretty wild, right, you know, par for the course 1228 01:04:08,400 --> 01:04:12,160 Speaker 1: in these woke workplaces. But from there things respiraling. Dave 1229 01:04:12,160 --> 01:04:15,360 Speaker 1: Weigel actually apologized for his quote unquote offensive retweek, but 1230 01:04:15,440 --> 01:04:19,320 Speaker 1: then the Washington Post management got involved. The executive editor, 1231 01:04:19,400 --> 01:04:23,000 Speaker 1: Sally Busby emailed the entire staff, asking them all please 1232 01:04:23,040 --> 01:04:26,600 Speaker 1: treat each other with dignity and respect. You know, don't 1233 01:04:26,600 --> 01:04:28,960 Speaker 1: call each other publicly out on social media. If you 1234 01:04:28,960 --> 01:04:31,120 Speaker 1: have a problem with each other, handle it like a 1235 01:04:31,200 --> 01:04:33,920 Speaker 1: normal person and talk to them in person or privately. 1236 01:04:34,400 --> 01:04:36,880 Speaker 1: Oh but no, it does not end there at all. 1237 01:04:36,960 --> 01:04:39,920 Speaker 1: Because one of Wild Girl's colleagues and another person who 1238 01:04:39,960 --> 01:04:44,200 Speaker 1: works at the Washington Post responded to Felicia Jose del Real. 1239 01:04:44,520 --> 01:04:48,720 Speaker 1: He is a reporter who responded to Felicia's call, saying, quote, Felicia, 1240 01:04:48,920 --> 01:04:51,240 Speaker 1: we all mass up from mess up from time to time. 1241 01:04:51,520 --> 01:04:54,320 Speaker 1: Engaging in repeated and targeted public harassment of a colleague 1242 01:04:54,400 --> 01:04:57,360 Speaker 1: is neither a good look or particularly effective. It turns 1243 01:04:57,400 --> 01:05:00,840 Speaker 1: the language of inclusivity into clout chasing and bullying. I 1244 01:05:00,920 --> 01:05:04,360 Speaker 1: don't think this is appropriate. You see, Jose really screwed up. 1245 01:05:04,560 --> 01:05:07,280 Speaker 1: You should never try to argue rationally with a suicide 1246 01:05:07,320 --> 01:05:10,360 Speaker 1: bomber level crazy person like Felicia, And from there she 1247 01:05:10,440 --> 01:05:14,120 Speaker 1: went scorched earth. Felisa responded that by objecting to sexism 1248 01:05:14,320 --> 01:05:16,640 Speaker 1: and standing up against a dumb ass retweet is not 1249 01:05:16,760 --> 01:05:19,320 Speaker 1: cloud chasing or harassment, even though that we all know 1250 01:05:19,400 --> 01:05:22,720 Speaker 1: it is, and began taunting Jose del Real for blocking 1251 01:05:22,720 --> 01:05:25,840 Speaker 1: her on Twitter and noting how he himself got harassed. 1252 01:05:26,040 --> 01:05:29,920 Speaker 1: Remember these are all colleagues. Then a true woke off ensued. 1253 01:05:30,120 --> 01:05:33,760 Speaker 1: Del Real noted he is the only Mexican American reporter 1254 01:05:33,800 --> 01:05:37,000 Speaker 1: at the Washington Post and is openly gay because he 1255 01:05:37,040 --> 01:05:40,560 Speaker 1: needs to establish his own woke credentials. Felicia then began 1256 01:05:40,640 --> 01:05:44,080 Speaker 1: saying that calling out Josel del Real, she's not inciting 1257 01:05:44,080 --> 01:05:47,280 Speaker 1: harassment against him, but also she's set the standard that 1258 01:05:47,320 --> 01:05:50,480 Speaker 1: by responding to her, he is harassing her, the classic 1259 01:05:50,560 --> 01:05:54,880 Speaker 1: Taylor Lorenz standard. Since then, she has been spastically retweeting 1260 01:05:55,000 --> 01:05:58,200 Speaker 1: attacks on her own colleagues and retweets about how the 1261 01:05:58,280 --> 01:06:01,479 Speaker 1: Washington Post needs to stand up for her. So where 1262 01:06:01,480 --> 01:06:03,480 Speaker 1: does that leave us and why does any of this 1263 01:06:03,600 --> 01:06:06,960 Speaker 1: bs matter? Because these are some of the most powerful 1264 01:06:07,160 --> 01:06:10,920 Speaker 1: political reporters in the country. They work at the second 1265 01:06:10,960 --> 01:06:15,160 Speaker 1: most powerful newspaper in America. These people deliver our news 1266 01:06:15,280 --> 01:06:20,120 Speaker 1: and this shows us how insane they are. Worse, their 1267 01:06:20,200 --> 01:06:23,840 Speaker 1: management is completely unable to rain them in at all. 1268 01:06:24,120 --> 01:06:27,680 Speaker 1: They have openly allowed Taylor Lorenz to be an unhinged, 1269 01:06:27,800 --> 01:06:31,560 Speaker 1: unprofessional lunatic. They refused to fire Felicia Somnez in the 1270 01:06:31,600 --> 01:06:35,320 Speaker 1: past for leaking her own boss's emails to The New 1271 01:06:35,400 --> 01:06:38,920 Speaker 1: York Times, and she even sued her own paper because 1272 01:06:38,920 --> 01:06:42,560 Speaker 1: she questionably meetued somebody in twenty eighteen and they felt, 1273 01:06:42,560 --> 01:06:44,720 Speaker 1: you know, maybe you're not going to be objective and 1274 01:06:44,720 --> 01:06:46,400 Speaker 1: you shouldn't be allowed to report on these types of 1275 01:06:46,440 --> 01:06:48,680 Speaker 1: stories because she was an advocate. How do we know 1276 01:06:48,760 --> 01:06:50,680 Speaker 1: she was an advocate because she was also the person 1277 01:06:50,720 --> 01:06:53,800 Speaker 1: tweeting of how Kobe Bryant was a rapist minutes after 1278 01:06:53,840 --> 01:06:56,160 Speaker 1: he died and the company told her, hey, you know, 1279 01:06:56,520 --> 01:06:59,680 Speaker 1: you're kind of making us look bad. Also true. Here's 1280 01:06:59,680 --> 01:07:03,200 Speaker 1: the thing. They never fired her for any of those transgressions. 1281 01:07:03,480 --> 01:07:06,360 Speaker 1: Each time they cave to the mob of both Somnez 1282 01:07:06,520 --> 01:07:09,360 Speaker 1: and the employees at the paper who even wrote letters 1283 01:07:09,360 --> 01:07:12,400 Speaker 1: in support of her. So now I don't feel bad 1284 01:07:12,440 --> 01:07:16,800 Speaker 1: for them at all. In fact, the situation is escalating further. Yesterday, 1285 01:07:16,840 --> 01:07:20,320 Speaker 1: a video technician named Brianna Muir put her colleague Micah 1286 01:07:20,360 --> 01:07:24,360 Speaker 1: Gelman on blast for mistakingly three months ago calling her 1287 01:07:24,480 --> 01:07:28,360 Speaker 1: Brianna Taylor. That's it. He deleted the tweet. He profoundly apologized, 1288 01:07:28,480 --> 01:07:31,040 Speaker 1: there's no indication at all he had did this in malice. 1289 01:07:31,240 --> 01:07:35,880 Speaker 1: And yet she said, these tweets, including Dave Weigels, not 1290 01:07:36,040 --> 01:07:40,000 Speaker 1: only hurt women in our newsroom, but make it extremely 1291 01:07:40,080 --> 01:07:44,040 Speaker 1: difficult to do our best work. Let me tell you something, Brianna, 1292 01:07:44,160 --> 01:07:48,040 Speaker 1: if you are someone who accidentally misspelling your name, that's 1293 01:07:48,080 --> 01:07:49,840 Speaker 1: the hardest thing that you have to deal with at 1294 01:07:49,840 --> 01:07:52,880 Speaker 1: work and in your life. You have a very blessed life. 1295 01:07:53,120 --> 01:07:55,360 Speaker 1: Try having an Indian name with three a's in it 1296 01:07:55,400 --> 01:07:58,200 Speaker 1: that isn't phonetic. You see, we can all out woke 1297 01:07:58,240 --> 01:08:01,520 Speaker 1: each other, or we can all just calm down. The 1298 01:08:01,600 --> 01:08:04,280 Speaker 1: reason I've bored you in excruciating detail with all of 1299 01:08:04,320 --> 01:08:07,880 Speaker 1: this is because as I was wrapping up this entire monologue, 1300 01:08:08,040 --> 01:08:12,280 Speaker 1: guess what breaks across the wire, the Washington Posts suspended 1301 01:08:12,680 --> 01:08:16,479 Speaker 1: Dave Weigel for his quote unquote sexist joke. He was 1302 01:08:16,520 --> 01:08:20,040 Speaker 1: suspended without pay for a month, meaning he will miss 1303 01:08:20,080 --> 01:08:23,360 Speaker 1: out on a month's entire income. At the same time, 1304 01:08:23,640 --> 01:08:26,559 Speaker 1: Taylor Lorenz can literally print lies, she can violate basic 1305 01:08:26,640 --> 01:08:30,080 Speaker 1: journalistic practices. She's gonna keep her job. Felicia Somnez, she 1306 01:08:30,080 --> 01:08:33,839 Speaker 1: could behave like a complete lunatic harass her colleagues. She's fine. 1307 01:08:34,080 --> 01:08:37,440 Speaker 1: You know what that really deserves major punishment. It's retweeting 1308 01:08:37,680 --> 01:08:40,639 Speaker 1: a boomer joke. This is a major event in media. 1309 01:08:40,800 --> 01:08:42,600 Speaker 1: I know it might seem trivial, but it is a 1310 01:08:42,600 --> 01:08:46,120 Speaker 1: warning shot to everyone inside the system. You're not safe. 1311 01:08:46,320 --> 01:08:48,600 Speaker 1: Even if you're normal. They will come from you. And 1312 01:08:48,640 --> 01:08:50,680 Speaker 1: there is only one solution. You're going to burn this 1313 01:08:50,720 --> 01:08:53,720 Speaker 1: thing to the ground. I mean, listen, you and I 1314 01:08:53,720 --> 01:08:55,240 Speaker 1: were on the phone, and if you want to hear 1315 01:08:55,479 --> 01:08:59,000 Speaker 1: my reaction to Sager's monologue, become a premium subscriber today 1316 01:08:59,080 --> 01:09:04,120 Speaker 1: at Breaking Points dot Bristol. Where do you take a 1317 01:09:04,120 --> 01:09:06,840 Speaker 1: look at? Well, guys, there's a fascinating new pull out 1318 01:09:06,840 --> 01:09:09,760 Speaker 1: from the Southern Poverty Law Center and Tulsion Research, which, 1319 01:09:09,800 --> 01:09:14,120 Speaker 1: among other things, shows that young men are increasingly skeptical 1320 01:09:14,160 --> 01:09:16,639 Speaker 1: of feminism, kind of ties in with Zager's monologue. Here 1321 01:09:16,920 --> 01:09:19,519 Speaker 1: here is the data. Quote while an overwhelming majority of 1322 01:09:19,560 --> 01:09:22,200 Speaker 1: Americans believe women in the workplace strength in our economy 1323 01:09:22,200 --> 01:09:25,040 Speaker 1: that's eighty two percent, and say they'd be comfortable with 1324 01:09:25,080 --> 01:09:28,120 Speaker 1: women a woman as a president, that's seventy five percent. 1325 01:09:28,400 --> 01:09:31,400 Speaker 1: Our survey also found that a majority of men under 1326 01:09:31,439 --> 01:09:34,760 Speaker 1: fifty on the right and a near majority of their 1327 01:09:34,800 --> 01:09:39,679 Speaker 1: Democratic counterparts say feminism has quote done more harm than good. 1328 01:09:40,160 --> 01:09:42,320 Speaker 1: So here's the chart. It lays out all of the data, 1329 01:09:42,400 --> 01:09:45,919 Speaker 1: and the trend is actually consistent, and it's really pretty interesting. 1330 01:09:46,000 --> 01:09:49,599 Speaker 1: Americans under fifty of both sexes are much more likely 1331 01:09:49,640 --> 01:09:52,679 Speaker 1: to hold a skeptical view of feminism. So even among 1332 01:09:52,760 --> 01:09:56,200 Speaker 1: female Democrats, younger women are more likely to say feminism 1333 01:09:56,200 --> 01:09:59,479 Speaker 1: has been a net negative than older women. And this 1334 01:09:59,520 --> 01:10:02,639 Speaker 1: is even more true of younger men. Sixty two percent 1335 01:10:02,680 --> 01:10:05,799 Speaker 1: of younger Republican men are negative on feminism versus forty 1336 01:10:05,800 --> 01:10:09,400 Speaker 1: two percent of older Republican men, and forty six percent 1337 01:10:09,520 --> 01:10:13,040 Speaker 1: of younger Democratic men are negative on feminism, very high 1338 01:10:13,120 --> 01:10:16,160 Speaker 1: number versus just four percent of older Democratic men. So 1339 01:10:16,200 --> 01:10:19,400 Speaker 1: that's a huge golf. That means the younger Democratic men 1340 01:10:19,640 --> 01:10:24,000 Speaker 1: are actually more skeptical of feminism than older Republican men. 1341 01:10:24,680 --> 01:10:27,559 Speaker 1: This is confusing, and it's kind of contradictory given that 1342 01:10:27,560 --> 01:10:30,559 Speaker 1: by almost every metric, young Americans are more progressive than 1343 01:10:30,600 --> 01:10:34,200 Speaker 1: previous generations. So why then have they soured so much 1344 01:10:34,240 --> 01:10:36,720 Speaker 1: on feminism? Well, if I had to boil it down 1345 01:10:36,720 --> 01:10:40,160 Speaker 1: to one culprit, I'd say it's Hillary Clinton. And I'm 1346 01:10:40,240 --> 01:10:43,240 Speaker 1: actually only kind of kidding here. I'm talking about both 1347 01:10:43,280 --> 01:10:46,720 Speaker 1: Hillary Clinton herself, but in particular the brand of feminism, 1348 01:10:46,760 --> 01:10:50,599 Speaker 1: the specific type of feminism that she represents. Just think 1349 01:10:50,640 --> 01:10:52,679 Speaker 1: about it. If you came of age during the twenty 1350 01:10:52,720 --> 01:10:55,519 Speaker 1: sixteen presidential election and you were not hashtag ready for 1351 01:10:55,560 --> 01:10:58,639 Speaker 1: Hillary from the start, you were given a million reasons 1352 01:10:58,640 --> 01:11:01,240 Speaker 1: to think that if this, this lady becoming president was 1353 01:11:01,240 --> 01:11:04,519 Speaker 1: what feminism was all about, then maybe feminism was just 1354 01:11:04,560 --> 01:11:08,000 Speaker 1: not really for you. And the primary young Democrats overwhelmingly 1355 01:11:08,000 --> 01:11:10,559 Speaker 1: supported Bertie Sanders, a man who spent his life championing 1356 01:11:10,640 --> 01:11:12,840 Speaker 1: left causes, fighting for civil rights at a time when 1357 01:11:12,880 --> 01:11:16,360 Speaker 1: Hillary Clinton was still a Goldwater girl, and for that support, 1358 01:11:16,479 --> 01:11:19,120 Speaker 1: you were smeared as a sexist. The message of the 1359 01:11:19,120 --> 01:11:21,720 Speaker 1: twenty sixteen primary and also the general election, was that 1360 01:11:21,760 --> 01:11:24,440 Speaker 1: you needed to vote for Hillary. You had no choice. 1361 01:11:24,600 --> 01:11:28,000 Speaker 1: You must be hashtag with her because the fulfillment of 1362 01:11:28,120 --> 01:11:32,719 Speaker 1: Hillary's personal ambitions was somehow good for all women, even 1363 01:11:32,760 --> 01:11:35,600 Speaker 1: though her actual policies and their impact on women was 1364 01:11:35,800 --> 01:11:39,720 Speaker 1: markedly inferior to those on offer from Bernie Sanders. When 1365 01:11:39,760 --> 01:11:42,960 Speaker 1: Hillary ultimately lost to a horrible person, plunging the country 1366 01:11:42,960 --> 01:11:46,080 Speaker 1: into four years of trumpy and chaos, it wasn't her fault. 1367 01:11:46,160 --> 01:11:49,680 Speaker 1: It was because voters, among other excuses, were too sexist 1368 01:11:49,720 --> 01:11:53,599 Speaker 1: to realize how great she was. Yes, that experience of 1369 01:11:53,640 --> 01:11:56,840 Speaker 1: having feminism embodied by one woman and her vanity, that 1370 01:11:56,880 --> 01:11:59,559 Speaker 1: would pretty well turn you off of feminism and expose 1371 01:11:59,560 --> 01:12:03,000 Speaker 1: how this type of ideology actually is, how much that 1372 01:12:03,160 --> 01:12:05,519 Speaker 1: type of feminism is really just to cover for the 1373 01:12:05,560 --> 01:12:08,320 Speaker 1: corrupt and brutal status quo. Now with fifty percent more 1374 01:12:08,320 --> 01:12:11,959 Speaker 1: of vaginas personally, I would still consider myself a feminist. 1375 01:12:12,000 --> 01:12:14,519 Speaker 1: I want all women, not just rich ones like Hillary Clinton, 1376 01:12:14,840 --> 01:12:18,000 Speaker 1: to have the full range of life's choices available to them. 1377 01:12:18,320 --> 01:12:20,639 Speaker 1: I want them to be able to choose whether and 1378 01:12:20,680 --> 01:12:22,559 Speaker 1: when to be a mom. I want them to be 1379 01:12:22,640 --> 01:12:25,360 Speaker 1: able to be supported, not guilted for working full time 1380 01:12:25,400 --> 01:12:27,479 Speaker 1: if that's what they want. I want them to be 1381 01:12:27,479 --> 01:12:29,920 Speaker 1: able to be supported and not guilted for staying home 1382 01:12:29,920 --> 01:12:32,360 Speaker 1: full time. If that's what they want. I want us 1383 01:12:32,400 --> 01:12:35,240 Speaker 1: to have public institutions like universal health care and childcare, 1384 01:12:35,240 --> 01:12:38,240 Speaker 1: and high wages at union jobs which enable those choices. 1385 01:12:39,040 --> 01:12:42,960 Speaker 1: That is clearly not the feminism of the anointed queen 1386 01:12:42,960 --> 01:12:46,240 Speaker 1: of liberal women, Hillary Clinton. The liberal feminism of a 1387 01:12:46,320 --> 01:12:48,519 Speaker 1: Hillary or a Kamala, or, sadly these days, of an 1388 01:12:48,520 --> 01:12:52,719 Speaker 1: Elizabeth Warren. It's largely symbolic, and it's largely for wealthy 1389 01:12:52,760 --> 01:12:56,160 Speaker 1: professional women. Remember Warren's promised to wear a pink planned 1390 01:12:56,200 --> 01:12:59,479 Speaker 1: parenthood scarfit in operation, or going back pre Hillary, the 1391 01:12:59,520 --> 01:13:03,720 Speaker 1: gamer cultural moment, where feminists passionately dedicated themselves to the 1392 01:13:03,840 --> 01:13:06,360 Speaker 1: vital work of getting big tits down of video games, 1393 01:13:06,479 --> 01:13:09,479 Speaker 1: convincing some segment of young men that feminism wasn't so 1394 01:13:09,560 --> 01:13:12,120 Speaker 1: much about treating women equally as it was about making 1395 01:13:12,120 --> 01:13:15,160 Speaker 1: sure dudes didn't have too much fun. And in fact, 1396 01:13:15,400 --> 01:13:18,080 Speaker 1: while younger Americans of both sexes are more skeptical of 1397 01:13:18,120 --> 01:13:22,320 Speaker 1: feminism than their older counterparts, it is actually young democratic 1398 01:13:22,439 --> 01:13:26,000 Speaker 1: men who have shifted most dramatically from their older peers. 1399 01:13:26,560 --> 01:13:30,160 Speaker 1: It seems likely that this new experience of feminism is 1400 01:13:30,280 --> 01:13:33,920 Speaker 1: largely too blame for these young men. Feminism isn't what 1401 01:13:34,000 --> 01:13:36,120 Speaker 1: I described and what I see it as. You can 1402 01:13:36,120 --> 01:13:37,920 Speaker 1: see that in the huge numbers who say women in 1403 01:13:37,920 --> 01:13:41,080 Speaker 1: the workplace strengthen the economy, So it's not a rejection 1404 01:13:41,240 --> 01:13:45,320 Speaker 1: of that idea of equality for women. Instead, their experience 1405 01:13:45,320 --> 01:13:47,800 Speaker 1: of feminism is being told they're supposed to feel bad 1406 01:13:47,840 --> 01:13:51,720 Speaker 1: for Taylor Lorenz, a wealthy journalist for a powerful news organization, 1407 01:13:52,120 --> 01:13:54,200 Speaker 1: or being told that they're sexist if they aren't into 1408 01:13:54,320 --> 01:13:56,759 Speaker 1: Kamala Harris, and being told that if they are failing 1409 01:13:56,760 --> 01:13:59,040 Speaker 1: in our society but don't carry one of the officially 1410 01:13:59,040 --> 01:14:02,200 Speaker 1: approved signifiers of being marginalized, then they are worthy of 1411 01:14:02,240 --> 01:14:05,559 Speaker 1: nothing but contempt. All of this speaks to the clumsy 1412 01:14:05,600 --> 01:14:09,240 Speaker 1: way we have constructed our discussions of identity, creating a 1413 01:14:09,280 --> 01:14:12,720 Speaker 1: sort of hierarchy which doesn't consider class at all, let 1414 01:14:12,720 --> 01:14:15,519 Speaker 1: alone the genetic lotteries of looks and ability, and just 1415 01:14:15,600 --> 01:14:19,360 Speaker 1: straight up plain old old fashioned luck. Youtubeer aft signifier 1416 01:14:19,479 --> 01:14:22,000 Speaker 1: just at a viral video delving into the animating forces 1417 01:14:22,000 --> 01:14:26,960 Speaker 1: of the online manisphere that ecosystem of anti SJW warriors 1418 01:14:27,000 --> 01:14:29,559 Speaker 1: and edge lords raging from the harmless to the humorists 1419 01:14:29,560 --> 01:14:32,439 Speaker 1: to the radicalized. And he delves into the rise of 1420 01:14:32,600 --> 01:14:35,680 Speaker 1: edge lord culture and of nihilism and an epidemic of 1421 01:14:35,800 --> 01:14:39,120 Speaker 1: even those men who are supposedly at the height of privilege, 1422 01:14:39,400 --> 01:14:44,479 Speaker 1: white CIS men falling into depression, addiction, and suicide. Now, 1423 01:14:44,520 --> 01:14:47,720 Speaker 1: given that these online Manisphere spaces are decidedly young and 1424 01:14:47,760 --> 01:14:50,920 Speaker 1: they are decidedly anti feminist, his analysis has a lot 1425 01:14:50,920 --> 01:14:54,080 Speaker 1: of relevance to why young men across the political spectrum 1426 01:14:54,120 --> 01:14:56,599 Speaker 1: have soured on feminism. So today we have man from 1427 01:14:56,720 --> 01:14:59,760 Speaker 1: gen X, millennials, gen z and sombijin alpha as always 1428 01:14:59,760 --> 01:15:01,240 Speaker 1: of them, our inter impubity Andy are going to start 1429 01:15:01,240 --> 01:15:03,160 Speaker 1: gorguling shit on YouTube and TikTok, and they're going to 1430 01:15:03,200 --> 01:15:05,320 Speaker 1: be grappling with the concept of performing masculinity and fearing 1431 01:15:05,360 --> 01:15:07,920 Speaker 1: the possibility of failing at it and suffering numerous consequences 1432 01:15:08,000 --> 01:15:10,760 Speaker 1: or succeeding in suffering other consequences. And that's one thing 1433 01:15:10,800 --> 01:15:12,200 Speaker 1: I also want to get across here is that much 1434 01:15:12,240 --> 01:15:14,880 Speaker 1: of the Manisphere, historically and now is built upon a 1435 01:15:14,920 --> 01:15:17,600 Speaker 1: fear response. As boys, we fear that poor performance of 1436 01:15:17,600 --> 01:15:20,240 Speaker 1: masculinity can contribute to BLeague innostral system, which it does. 1437 01:15:20,280 --> 01:15:21,800 Speaker 1: As men, we fear that it will lead to low 1438 01:15:21,840 --> 01:15:24,840 Speaker 1: prospects for intimate partnership and professional success, which it does. Then, 1439 01:15:24,880 --> 01:15:27,480 Speaker 1: for a lot of men who extensively do perform masculinity effectively, 1440 01:15:27,600 --> 01:15:29,160 Speaker 1: unless they're at the top of the food chain, they 1441 01:15:29,160 --> 01:15:31,360 Speaker 1: will still be succeptible to the harms of like capitalism, 1442 01:15:31,400 --> 01:15:33,840 Speaker 1: the form of exportative into humanizing work, low wages for 1443 01:15:33,960 --> 01:15:36,160 Speaker 1: health practices, et cetera. And even those at the top 1444 01:15:36,240 --> 01:15:38,080 Speaker 1: of the top still have to contend with the erosion 1445 01:15:38,320 --> 01:15:40,559 Speaker 1: of their soul. This is the infected foundation underneath all 1446 01:15:40,560 --> 01:15:42,360 Speaker 1: of this nonsense that ties it all together and makes 1447 01:15:42,360 --> 01:15:45,080 Speaker 1: the manisphere seem to have such widespread reach, as it 1448 01:15:45,120 --> 01:15:47,160 Speaker 1: makes it possible for someone to start out just wanting 1449 01:15:47,200 --> 01:15:49,240 Speaker 1: to build some muscle or learn how to talk to girls, 1450 01:15:49,320 --> 01:15:51,200 Speaker 1: or searching for their favor and animated character, and end 1451 01:15:51,240 --> 01:15:54,160 Speaker 1: up arguing for things like enforced monogamy, sex redistribution, or 1452 01:15:54,160 --> 01:15:55,600 Speaker 1: that women should be denied their right to vote. The 1453 01:15:55,680 --> 01:15:58,080 Speaker 1: scary and hard thing to understand is that, like most 1454 01:15:58,120 --> 01:16:00,360 Speaker 1: social ills, the worst parts of the manosphere stim from 1455 01:16:00,400 --> 01:16:02,760 Speaker 1: a very valid and very universal sense of anguish and 1456 01:16:02,840 --> 01:16:05,000 Speaker 1: men and we have to contend with and process this 1457 01:16:05,080 --> 01:16:07,519 Speaker 1: if we are ever going to seriously address hops to 1458 01:16:07,560 --> 01:16:10,519 Speaker 1: fix the problems that the manusphere presents to us. So look, 1459 01:16:10,560 --> 01:16:13,200 Speaker 1: it's a long video, it's really thoughtful. I definitely encourage 1460 01:16:13,200 --> 01:16:15,000 Speaker 1: you to check out the whole thing. But what FD 1461 01:16:15,120 --> 01:16:17,920 Speaker 1: is pointing to in this port is basically that this 1462 01:16:18,040 --> 01:16:21,160 Speaker 1: whole economic and cultural system that we've got here, it's 1463 01:16:21,200 --> 01:16:24,799 Speaker 1: bad for everyone, even the people who are supposedly privileged 1464 01:16:24,840 --> 01:16:28,479 Speaker 1: by themselves precarious. He talks about performing masculinity, and that 1465 01:16:28,520 --> 01:16:30,559 Speaker 1: means a lot of things, but core to expectations of 1466 01:16:30,600 --> 01:16:33,720 Speaker 1: manhood are being a provider, the good job capable of 1467 01:16:33,760 --> 01:16:37,000 Speaker 1: providing for a family. Our cultural mythology says that you 1468 01:16:37,120 --> 01:16:39,120 Speaker 1: work hard and you'll get the job and the house 1469 01:16:39,160 --> 01:16:41,400 Speaker 1: and the girl. But the reality of our late stage 1470 01:16:41,439 --> 01:16:44,120 Speaker 1: capitalist society is that that middle class stability has been 1471 01:16:44,200 --> 01:16:48,760 Speaker 1: stolen from millions. No wonder that millennials and Gen Z 1472 01:16:48,920 --> 01:16:51,599 Speaker 1: men who have had their futures stolen are increasingly telling 1473 01:16:51,640 --> 01:16:55,920 Speaker 1: posters feminism has been harmful because the liberal girl boss 1474 01:16:55,960 --> 01:16:59,400 Speaker 1: feminism offered by Hillary Clinton and co. Doesn't offer any 1475 01:16:59,439 --> 01:17:02,799 Speaker 1: explanation for why men may live paycheck to paycheck, struggle 1476 01:17:02,800 --> 01:17:05,360 Speaker 1: with depression, and wrestle with the terror that they will 1477 01:17:05,400 --> 01:17:07,840 Speaker 1: never be able to obtain what society has told them 1478 01:17:07,880 --> 01:17:11,000 Speaker 1: it means to be a man. Now, if that ideology 1479 01:17:11,080 --> 01:17:14,200 Speaker 1: offers them anything at all, it's contempt and an admonishment 1480 01:17:14,280 --> 01:17:18,080 Speaker 1: to check their privilege. Why should young men embrace an analysis, 1481 01:17:18,240 --> 01:17:21,120 Speaker 1: the most hollow version of which has nothing to say 1482 01:17:21,200 --> 01:17:23,920 Speaker 1: about their own condition. In the absence of a political 1483 01:17:23,960 --> 01:17:27,200 Speaker 1: project to recognize the dignity and humanity of everyone, men 1484 01:17:27,240 --> 01:17:29,519 Speaker 1: are less struggling with the same crises of meaning as 1485 01:17:29,560 --> 01:17:33,160 Speaker 1: everyone else, but frequently without the compassion that society may 1486 01:17:33,200 --> 01:17:36,559 Speaker 1: have for other demographic groups. Now, if these polls indicate 1487 01:17:36,680 --> 01:17:39,120 Speaker 1: the young Americans are seeing through the type of hollow 1488 01:17:39,160 --> 01:17:43,040 Speaker 1: identity politics that Hillary Clinton represents, I see that as progress. 1489 01:17:43,240 --> 01:17:45,840 Speaker 1: If they're rejecting the notion that we should uncritically cheer 1490 01:17:45,880 --> 01:17:49,160 Speaker 1: the latest girl boss, corporate CEO, or CIA chief or 1491 01:17:49,200 --> 01:17:53,599 Speaker 1: political goal, that's fantastic. But now it's up to us 1492 01:17:53,760 --> 01:17:56,840 Speaker 1: to offer an alternative that exposes the true villains, the 1493 01:17:56,840 --> 01:17:59,880 Speaker 1: corporate profiteers, the corrupt politicians, and a rig deck and 1494 01:18:00,360 --> 01:18:04,240 Speaker 1: system not. They're fellow citizens of all races and genders 1495 01:18:04,280 --> 01:18:07,360 Speaker 1: who like them are just wrestling with the human condition. 1496 01:18:08,320 --> 01:18:11,240 Speaker 1: I thought a lot about this one. That's interesting, And 1497 01:18:11,240 --> 01:18:13,960 Speaker 1: if you want to hear my reaction to Crystal's monologue, 1498 01:18:13,960 --> 01:18:20,000 Speaker 1: become a premium subscriber today at breakingpoints dot com. Johnny is. 1499 01:18:20,000 --> 01:18:22,839 Speaker 1: Now we have the executive editor of the American Prospect 1500 01:18:23,120 --> 01:18:25,479 Speaker 1: live here in the studio, the one and only David Dane, 1501 01:18:25,479 --> 01:18:27,800 Speaker 1: great Caesar. Good to be here, first time actually meeting 1502 01:18:27,840 --> 01:18:31,680 Speaker 1: you in person exactly. This is an exciting moment. And 1503 01:18:31,720 --> 01:18:34,320 Speaker 1: in addition, he's also author author of a great book 1504 01:18:34,360 --> 01:18:37,040 Speaker 1: called Monopolized Chain of Title. So we have a great 1505 01:18:40,760 --> 01:18:43,760 Speaker 1: monopolized and Chain of Title. Okay, so now that we 1506 01:18:43,800 --> 01:18:45,920 Speaker 1: have all that on the way, we have a really 1507 01:18:45,960 --> 01:18:49,679 Speaker 1: interesting and important story that David has been following closely. 1508 01:18:49,760 --> 01:18:51,679 Speaker 1: Let's go ahead and put this tweet up on the screen. 1509 01:18:51,800 --> 01:18:54,240 Speaker 1: So the White House is planning to waive some solar 1510 01:18:54,400 --> 01:18:59,280 Speaker 1: import tariffs to ensure supply while also invoking the defense 1511 01:18:59,360 --> 01:19:03,599 Speaker 1: production to boost domestic manufacturing. For people who haven't been 1512 01:19:03,640 --> 01:19:06,559 Speaker 1: following this whole debate closely, can you just give us 1513 01:19:06,600 --> 01:19:09,800 Speaker 1: the backstory here that ultimately led to this decision. So 1514 01:19:09,800 --> 01:19:15,200 Speaker 1: pretty much all solar panel components, things like wafers and polysilicon, 1515 01:19:15,439 --> 01:19:20,080 Speaker 1: is made in China. And in twenty twelve, under the 1516 01:19:20,120 --> 01:19:25,200 Speaker 1: Obama administration, there were what they call anti dumping duties 1517 01:19:25,240 --> 01:19:31,080 Speaker 1: put on those products, basically saying that these Chinese companies, 1518 01:19:31,120 --> 01:19:34,280 Speaker 1: working in concert with the Chinese government, are throwing these 1519 01:19:34,320 --> 01:19:38,000 Speaker 1: solar panels on the world market at extremely low prices 1520 01:19:38,040 --> 01:19:41,920 Speaker 1: below cost in order to dominate the market. And so 1521 01:19:41,920 --> 01:19:45,880 Speaker 1: in twenty twelve they put these restrictions on. Almost immediately, 1522 01:19:47,560 --> 01:19:52,640 Speaker 1: the solar imports from China went down, almost at the 1523 01:19:52,640 --> 01:19:55,479 Speaker 1: same rate as the solar imports from four Southeast Asian 1524 01:19:55,520 --> 01:19:59,560 Speaker 1: companies went up. And so yeah, you don't have to 1525 01:19:59,600 --> 01:20:03,000 Speaker 1: be a to figure out that these goods were being 1526 01:20:03,040 --> 01:20:06,840 Speaker 1: transhipped from China to these four Southeast Asian countries and 1527 01:20:06,880 --> 01:20:10,919 Speaker 1: then onto all over the world, but including the United States. 1528 01:20:11,520 --> 01:20:15,559 Speaker 1: So about three or four months ago, a small solar 1529 01:20:15,600 --> 01:20:19,439 Speaker 1: company here in the United States, a domestic manufacturer of 1530 01:20:19,600 --> 01:20:24,400 Speaker 1: these panels called aux and Solar, filed what is known 1531 01:20:24,439 --> 01:20:28,840 Speaker 1: as an anti circumvention order seeking an investigation. It's a 1532 01:20:28,880 --> 01:20:32,639 Speaker 1: quasi legal process. The Commerce Department is obligated to check 1533 01:20:32,680 --> 01:20:36,080 Speaker 1: it out, and they are in the midst of doing so, 1534 01:20:36,479 --> 01:20:40,280 Speaker 1: and basically they're looking into whether or not these goods 1535 01:20:40,320 --> 01:20:44,200 Speaker 1: are being indeed transshipped from these four Southeast Asian companies 1536 01:20:44,240 --> 01:20:49,400 Speaker 1: to the US, therefore circumventing the tariff that was put 1537 01:20:49,600 --> 01:20:52,880 Speaker 1: on the Chinese companies. So they're in the midst of 1538 01:20:52,880 --> 01:20:57,760 Speaker 1: this investigation. And the domestic solar installers are freaking out 1539 01:20:57,800 --> 01:21:00,920 Speaker 1: about it because they like cheap solar panel goods from Asia. 1540 01:21:01,000 --> 01:21:04,479 Speaker 1: Who doesn't, And you know, I mean there's an argument 1541 01:21:04,479 --> 01:21:06,439 Speaker 1: for it, right, I mean, we need to build out 1542 01:21:06,479 --> 01:21:09,680 Speaker 1: the green transition, and you know, if you can do 1543 01:21:09,720 --> 01:21:12,639 Speaker 1: it more cheaply, then more power to you. There are 1544 01:21:12,800 --> 01:21:17,960 Speaker 1: larger questions of the reliability of centralizing production in essentially 1545 01:21:18,000 --> 01:21:21,719 Speaker 1: one part of the world. It also is the case 1546 01:21:21,800 --> 01:21:25,840 Speaker 1: that these goods happen to be made using dirty coal 1547 01:21:26,800 --> 01:21:30,320 Speaker 1: in the production it's very production intensive, very energy intensive, 1548 01:21:30,680 --> 01:21:33,840 Speaker 1: and so it's offsets some of the benefit. And it's 1549 01:21:33,840 --> 01:21:36,880 Speaker 1: also made largely in the Jinjang region, which we know 1550 01:21:38,120 --> 01:21:43,920 Speaker 1: is using largely forced labor from the wigers to do this. 1551 01:21:44,000 --> 01:21:46,320 Speaker 1: In fact, there's a law called the Weager Forced Labor 1552 01:21:46,360 --> 01:21:49,680 Speaker 1: Prevention Act which is about to go into force that 1553 01:21:49,800 --> 01:21:53,320 Speaker 1: prevents the bringing in of any goods from this region 1554 01:21:53,840 --> 01:21:56,200 Speaker 1: that are made with forced labor. Right. And so just 1555 01:21:56,240 --> 01:21:59,160 Speaker 1: to understand, I think because Biden is trying to kind 1556 01:21:59,160 --> 01:22:01,000 Speaker 1: of have it both ways. He's saying, I'm going to 1557 01:22:01,120 --> 01:22:04,680 Speaker 1: use the Defense Production Act to increase US manufacturing, but 1558 01:22:05,439 --> 01:22:08,479 Speaker 1: I'm also, in the interim gonna waive all of these tariffs. Right. 1559 01:22:08,720 --> 01:22:12,559 Speaker 1: So the marketplace, how is it supposed to compete, especially 1560 01:22:12,560 --> 01:22:15,439 Speaker 1: when you have the actual person who sued on this 1561 01:22:15,520 --> 01:22:20,120 Speaker 1: behalf the California based aux and solar company who at 1562 01:22:20,360 --> 01:22:22,439 Speaker 1: to trigger this, And he is saying, He's like, you're 1563 01:22:22,439 --> 01:22:25,360 Speaker 1: interfering in this process, which was CAUSEI judicial, and you're 1564 01:22:25,360 --> 01:22:29,600 Speaker 1: actually hurting our ability to develop any competitive edge in 1565 01:22:29,720 --> 01:22:32,920 Speaker 1: US manufacturing if you do believe in solar. So I mean, 1566 01:22:32,960 --> 01:22:36,280 Speaker 1: this does seem like a gift to these domestic installers 1567 01:22:36,560 --> 01:22:39,080 Speaker 1: and frankly to these Chinese companies. Yeah, I think that's right. 1568 01:22:39,200 --> 01:22:42,360 Speaker 1: And you know, the trade organization that represents them, they're 1569 01:22:42,400 --> 01:22:44,479 Speaker 1: one and the same. The trade organization and the Solar 1570 01:22:44,600 --> 01:22:47,720 Speaker 1: Energy Industries Association includes a lot of installers, but it 1571 01:22:47,760 --> 01:22:51,559 Speaker 1: also includes manufacturing companies like the Chinese companies who are 1572 01:22:51,640 --> 01:22:55,479 Speaker 1: subjects of this investigation, Yes, like Jinko Solar and Trina 1573 01:22:55,600 --> 01:23:00,320 Speaker 1: Solar and j Solar. So yeah, Basically what Biden did 1574 01:23:00,400 --> 01:23:03,479 Speaker 1: is he said, Okay, we are for twenty four months 1575 01:23:03,800 --> 01:23:08,599 Speaker 1: going to suspend any of these anti dumping tariffs. They're 1576 01:23:08,600 --> 01:23:11,760 Speaker 1: actually called duties. Trade laders get very mad at me 1577 01:23:11,800 --> 01:23:15,919 Speaker 1: when I call them there. So they're going to suspend 1578 01:23:16,000 --> 01:23:19,200 Speaker 1: them for twenty four months, for basically two years, give 1579 01:23:19,200 --> 01:23:21,559 Speaker 1: them a free pass. And yes, I mean it's hard 1580 01:23:21,600 --> 01:23:25,639 Speaker 1: to see how using the Defense Production Act to boost 1581 01:23:25,680 --> 01:23:29,679 Speaker 1: domestic solar manufacturing is going to work when you have 1582 01:23:30,840 --> 01:23:35,760 Speaker 1: a much cheaper product over in China. The authority for 1583 01:23:36,000 --> 01:23:41,519 Speaker 1: how Biden is suspending these anti dumping and countervailing duties 1584 01:23:42,000 --> 01:23:45,479 Speaker 1: is very strange. It's from the Smoop Hawley tariff. It's 1585 01:23:45,479 --> 01:23:49,680 Speaker 1: from the nineteen thirty Trade Act, and it's supposed to 1586 01:23:50,000 --> 01:23:52,599 Speaker 1: the authority that he's using is supposed to be used 1587 01:23:53,000 --> 01:23:56,120 Speaker 1: in the event of like a natural disaster. It's supposed 1588 01:23:56,120 --> 01:23:59,040 Speaker 1: to be used for earthquakes, and it's supposed to suspend 1589 01:23:59,080 --> 01:24:03,280 Speaker 1: tariffs to bring in necessary goods in the event of 1590 01:24:03,760 --> 01:24:08,200 Speaker 1: a some sort of physical emergency. So it's very hard 1591 01:24:08,240 --> 01:24:10,040 Speaker 1: for me to see and it's very hard for a 1592 01:24:10,080 --> 01:24:11,920 Speaker 1: lot of trade lawyers I talked to you yesterday to 1593 01:24:11,960 --> 01:24:17,799 Speaker 1: see how this authority is kosher. But there's little belief 1594 01:24:17,800 --> 01:24:21,800 Speaker 1: that anyone's going to challenge it. Maybe Auxtion and Solar 1595 01:24:21,880 --> 01:24:23,880 Speaker 1: or maybe one of these domestic solar companies will challenge 1596 01:24:23,920 --> 01:24:26,040 Speaker 1: it in court and will get a final ruling. But 1597 01:24:26,120 --> 01:24:28,200 Speaker 1: what the trade lawyers I talked to are worried about 1598 01:24:28,320 --> 01:24:31,920 Speaker 1: is that this doesn't just affect solar. It means that 1599 01:24:32,040 --> 01:24:35,760 Speaker 1: any kind of small company that wants to investigate an 1600 01:24:35,760 --> 01:24:39,120 Speaker 1: anti dumping case that the government doesn't like. The government 1601 01:24:39,120 --> 01:24:41,400 Speaker 1: has now pulled a rabbit out of its hat and 1602 01:24:41,439 --> 01:24:44,240 Speaker 1: this special exemption that they can put in place to 1603 01:24:44,439 --> 01:24:49,240 Speaker 1: basically facilitate the continued, you know, whatever it is they 1604 01:24:49,320 --> 01:24:52,720 Speaker 1: want out of a trade regime. So it's not just 1605 01:24:52,800 --> 01:24:56,559 Speaker 1: bad for solar domestic manufacturing. It's bad for a number 1606 01:24:56,600 --> 01:25:00,000 Speaker 1: of points of domestic manufacturing as long as your life 1607 01:25:00,520 --> 01:25:03,400 Speaker 1: is big enough to make it a political problem. What 1608 01:25:03,439 --> 01:25:06,679 Speaker 1: do the political lines look like on this debate? Well, 1609 01:25:06,720 --> 01:25:09,479 Speaker 1: I mean it's it's a little you know, skewed. I mean, 1610 01:25:09,520 --> 01:25:12,840 Speaker 1: you have environmentalists who do say, yes, we need to 1611 01:25:13,000 --> 01:25:16,040 Speaker 1: build out solar and we need to do it as 1612 01:25:16,120 --> 01:25:19,760 Speaker 1: cheaply and quickly as possible. You have folks on the 1613 01:25:19,800 --> 01:25:24,479 Speaker 1: trade side in both parties economics sort of nationalism types, 1614 01:25:24,520 --> 01:25:27,719 Speaker 1: who say that we need to build a domestic solar industry, 1615 01:25:28,520 --> 01:25:31,240 Speaker 1: not just because of where this is coming from, and 1616 01:25:32,240 --> 01:25:35,120 Speaker 1: but because it's the law, like our trade laws are 1617 01:25:35,400 --> 01:25:40,680 Speaker 1: are are supposed to protect and assist domestic industry and 1618 01:25:41,439 --> 01:25:44,719 Speaker 1: build good jobs in this country. And if we can't 1619 01:25:44,760 --> 01:25:48,240 Speaker 1: do that because they're you know, workarounds or ways that 1620 01:25:48,280 --> 01:25:52,559 Speaker 1: the government can can stop these kinds of investigations, then 1621 01:25:52,600 --> 01:25:54,599 Speaker 1: that's that could be bad for all of us from 1622 01:25:54,640 --> 01:25:57,800 Speaker 1: an economic standpoint. And the other point to make is 1623 01:25:57,840 --> 01:26:02,360 Speaker 1: that we just lived through a pandem where we saw 1624 01:26:02,439 --> 01:26:05,920 Speaker 1: the dangers of long intermediated supply chains, we saw the 1625 01:26:06,000 --> 01:26:09,439 Speaker 1: dangers of centralizing production in one part of the world, 1626 01:26:09,600 --> 01:26:12,160 Speaker 1: and when that production goes south, then we have a 1627 01:26:12,200 --> 01:26:15,559 Speaker 1: shortage in this country and we could certainly see that 1628 01:26:15,600 --> 01:26:18,439 Speaker 1: with solar. This also is sort of a dry run. 1629 01:26:18,720 --> 01:26:21,280 Speaker 1: You know, as I mentioned this, weager Forced Labor Prevention 1630 01:26:21,400 --> 01:26:24,840 Speaker 1: Act so supposed to come in place, yes at the 1631 01:26:24,880 --> 01:26:28,960 Speaker 1: end of the month, and are they going to figure 1632 01:26:29,000 --> 01:26:31,000 Speaker 1: out some other way to exclude that and this is 1633 01:26:31,040 --> 01:26:34,519 Speaker 1: something that passed I believe four hundred and twenty to one. Yeah, 1634 01:26:34,560 --> 01:26:37,759 Speaker 1: it was through that Senate by voice vote in the Senate. 1635 01:26:38,200 --> 01:26:41,040 Speaker 1: And we're just going to overturn this law because it's 1636 01:26:41,080 --> 01:26:44,200 Speaker 1: inconvenient for solar installers and one cheap solar panel. I 1637 01:26:44,240 --> 01:26:46,280 Speaker 1: think this is an excellent point because you have just 1638 01:26:46,360 --> 01:26:49,400 Speaker 1: given they have just given a gift to National Retail Foundation, 1639 01:26:49,600 --> 01:26:51,800 Speaker 1: to Nike, to all these people. You think their supply 1640 01:26:51,920 --> 01:26:54,639 Speaker 1: chains don't touch we They lobbied heavily against the Weaker 1641 01:26:54,960 --> 01:26:57,840 Speaker 1: Protection Acts, specifically because they know that supply chain is 1642 01:26:57,960 --> 01:27:00,720 Speaker 1: riddled with this type of labor. And now you have 1643 01:27:00,840 --> 01:27:03,439 Speaker 1: shown that if you can make a good enough argument, 1644 01:27:03,520 --> 01:27:06,360 Speaker 1: you can get a waiver from the administration. I mean 1645 01:27:06,400 --> 01:27:09,680 Speaker 1: my question is, David does the is the investigation going 1646 01:27:09,720 --> 01:27:12,080 Speaker 1: to continue? Like are we actually going to find out 1647 01:27:12,320 --> 01:27:15,720 Speaker 1: the results? And I mean it's probably very demoralizing to 1648 01:27:15,800 --> 01:27:18,960 Speaker 1: the CBP officers who are even leading this investigation, because 1649 01:27:18,960 --> 01:27:20,720 Speaker 1: they're like, well, what's the point what am I doing here? 1650 01:27:20,760 --> 01:27:24,240 Speaker 1: It's a Commerce Department office. But yes, it is supposed 1651 01:27:24,240 --> 01:27:26,360 Speaker 1: to continue, and they're supposed to do it on a 1652 01:27:26,400 --> 01:27:31,240 Speaker 1: parallel track. And I think the end result if you 1653 01:27:31,479 --> 01:27:34,080 Speaker 1: sort of let's take what is the best argument the 1654 01:27:34,120 --> 01:27:36,080 Speaker 1: Bidy administration you can make, We're going to do this 1655 01:27:36,160 --> 01:27:38,679 Speaker 1: on a parallel track. The end result will be if 1656 01:27:38,680 --> 01:27:43,519 Speaker 1: they do find circumvention, then they will put the duty on, 1657 01:27:43,560 --> 01:27:46,400 Speaker 1: which is probably no more than between twelve and twenty percent. Yeah, right, 1658 01:27:47,680 --> 01:27:52,759 Speaker 1: And in two years those companies will have to pay 1659 01:27:53,200 --> 01:27:56,240 Speaker 1: that duty. So maybe in two years it becomes a 1660 01:27:56,280 --> 01:28:00,920 Speaker 1: little less cost effective for solar to be imported from 1661 01:28:01,000 --> 01:28:04,040 Speaker 1: these Southeast Asian countries. But you know, two years is 1662 01:28:04,080 --> 01:28:08,559 Speaker 1: a long time. And certainly, if the Chinese government is 1663 01:28:08,680 --> 01:28:12,800 Speaker 1: determined enough to dominate this market, they don't really care 1664 01:28:12,840 --> 01:28:15,240 Speaker 1: about profit, they could they can continue to drop this 1665 01:28:15,320 --> 01:28:20,360 Speaker 1: down such that the duty is irrelevant. So I think 1666 01:28:20,400 --> 01:28:23,280 Speaker 1: that this, you know, your characterization of this as a 1667 01:28:23,320 --> 01:28:26,960 Speaker 1: gift is pretty accurate. What would a sensible industrial policy 1668 01:28:27,200 --> 01:28:30,880 Speaker 1: look like to encourage the domestic manufacturing of solar panels, Well, 1669 01:28:30,920 --> 01:28:34,679 Speaker 1: I mean, I think it starts with, you know, boosting support. 1670 01:28:34,840 --> 01:28:39,040 Speaker 1: Here in the United States, We've always had support on installation, 1671 01:28:39,680 --> 01:28:43,439 Speaker 1: but we've never had support on production. So a production 1672 01:28:43,600 --> 01:28:47,280 Speaker 1: tax credit. John Ossoff has that bill. It was at 1673 01:28:47,320 --> 01:28:50,280 Speaker 1: one point part of the artist known formerly as Build 1674 01:28:50,360 --> 01:28:55,720 Speaker 1: Back Better. There's still a chance that in whatever new 1675 01:28:55,760 --> 01:28:59,400 Speaker 1: fangled process that they put together that that would come through. 1676 01:28:59,439 --> 01:29:02,040 Speaker 1: But I think that that's the important thing that we've 1677 01:29:02,120 --> 01:29:08,080 Speaker 1: never actually incentivized solar production in the United States. Now, 1678 01:29:08,120 --> 01:29:10,920 Speaker 1: some solar producers say, you know, well, we just have 1679 01:29:10,960 --> 01:29:12,240 Speaker 1: to do it this way. It's always going to be 1680 01:29:12,320 --> 01:29:14,800 Speaker 1: cheaper in China, and it's it's a fool's errand to 1681 01:29:14,840 --> 01:29:17,080 Speaker 1: say that we can produce it cheap more cheaply in 1682 01:29:17,120 --> 01:29:21,120 Speaker 1: the United States, you know, and that gets into some real, real, 1683 01:29:21,200 --> 01:29:23,880 Speaker 1: kind of creepy moral arguments that like, yeah, we have 1684 01:29:23,960 --> 01:29:27,600 Speaker 1: to have this slavery out there because and use this 1685 01:29:27,680 --> 01:29:30,360 Speaker 1: forced labor because it's just it's just cheaper for us, 1686 01:29:30,400 --> 01:29:32,640 Speaker 1: which is the kind of arguments that you heard, you know, 1687 01:29:32,680 --> 01:29:36,040 Speaker 1: in the nineteenth century. Yeah, and let's accept also this 1688 01:29:36,160 --> 01:29:37,880 Speaker 1: accept this, which is that you know why it is 1689 01:29:37,920 --> 01:29:40,680 Speaker 1: cheaper there because they don't have environmental regulations that we 1690 01:29:40,720 --> 01:29:42,960 Speaker 1: have here. They can take little kids and make them 1691 01:29:43,000 --> 01:29:46,200 Speaker 1: breed in toxic fumes, use dirty coal, and pollute the 1692 01:29:46,240 --> 01:29:49,240 Speaker 1: environment while they're producing clean energy. So you can hit 1693 01:29:49,320 --> 01:29:51,719 Speaker 1: your cla if we do it here, we have actual 1694 01:29:51,880 --> 01:29:54,400 Speaker 1: regulations which we have to abide by. Yes, that might 1695 01:29:54,400 --> 01:29:57,879 Speaker 1: be more expensive, but that's better overall for the environment. 1696 01:29:57,960 --> 01:29:59,400 Speaker 1: And if the point is if you want to support 1697 01:29:59,439 --> 01:30:04,600 Speaker 1: all workers, of course you would allow this regime that 1698 01:30:04,720 --> 01:30:09,760 Speaker 1: says we're not going to tolerate the widespread mass use 1699 01:30:10,280 --> 01:30:12,639 Speaker 1: of forced labor in the southern country. I mean, I've 1700 01:30:12,680 --> 01:30:16,200 Speaker 1: heard yesterday I heard like solar boosters, who I was 1701 01:30:16,240 --> 01:30:18,800 Speaker 1: fighting with online talk about like, well, we use prison 1702 01:30:18,920 --> 01:30:21,200 Speaker 1: labor here in the United States. That's bad too. The 1703 01:30:21,280 --> 01:30:25,639 Speaker 1: ultimate two wrongs don't make it right, right, Yeah, great point. Lastly, 1704 01:30:25,680 --> 01:30:28,120 Speaker 1: I wanted you to plug your latest reporting which is 1705 01:30:28,240 --> 01:30:29,760 Speaker 1: on one of the things that you all do so 1706 01:30:29,880 --> 01:30:32,240 Speaker 1: well is pointing out, hey, here are things Biden could 1707 01:30:32,240 --> 01:30:35,040 Speaker 1: actually do. You all had the I think you caught 1708 01:30:35,040 --> 01:30:37,280 Speaker 1: it with the Day one agenda. You had a list 1709 01:30:37,280 --> 01:30:40,120 Speaker 1: of executive actions he could take. Doesn't need Joe Manchin, 1710 01:30:40,240 --> 01:30:43,080 Speaker 1: the Parliamentary and the filibus are all that off the table. 1711 01:30:43,520 --> 01:30:46,599 Speaker 1: You have another of those items that would allow Joe 1712 01:30:46,600 --> 01:30:49,519 Speaker 1: Biden to go after the for profit college industry, which 1713 01:30:49,560 --> 01:30:53,639 Speaker 1: has been just disgustingly exploitative and abusive of students. Take 1714 01:30:53,720 --> 01:30:55,639 Speaker 1: us through that and has been so for like eighty 1715 01:30:55,720 --> 01:30:59,120 Speaker 1: years when I did the reporting on this. Since the 1716 01:30:59,160 --> 01:31:02,160 Speaker 1: GI Bill came out after World War Two, there have 1717 01:31:02,320 --> 01:31:06,480 Speaker 1: been unscrupulous for profit colleges that pop up like clockwork 1718 01:31:06,640 --> 01:31:10,479 Speaker 1: every decade to try to grab that federal money. The 1719 01:31:10,880 --> 01:31:13,240 Speaker 1: key point here is that the way in which the 1720 01:31:13,240 --> 01:31:18,280 Speaker 1: for profit college industry survives is through federal loans federal financing. 1721 01:31:19,520 --> 01:31:23,439 Speaker 1: Almost ninety percent of all money that is revenue to 1722 01:31:23,479 --> 01:31:27,000 Speaker 1: the for profit industry comes from federal student loans. So 1723 01:31:27,040 --> 01:31:30,960 Speaker 1: if you deny those colleges the access to the federal 1724 01:31:30,960 --> 01:31:35,839 Speaker 1: student loan program, they can't survive. And what we saw, 1725 01:31:36,080 --> 01:31:37,960 Speaker 1: you know, there are kind of two ways to handle this. 1726 01:31:38,240 --> 01:31:40,320 Speaker 1: The first way is what we saw last week. So 1727 01:31:41,479 --> 01:31:46,240 Speaker 1: the Biden administration, to their credit, canceled every single loan 1728 01:31:46,880 --> 01:31:51,160 Speaker 1: that was made for Corinthian colleges. This for profit network, 1729 01:31:51,200 --> 01:31:54,840 Speaker 1: this very predatory network for its entire history from nineteen 1730 01:31:54,920 --> 01:31:57,600 Speaker 1: ninety five to twenty fifteen. Canceled all of them and 1731 01:31:57,680 --> 01:32:00,680 Speaker 1: will refund payments. So you can do that on the 1732 01:32:00,720 --> 01:32:05,280 Speaker 1: back end. You've already financed it. The executives got their money, 1733 01:32:05,280 --> 01:32:08,200 Speaker 1: they went away scott free, They had no accountability, and 1734 01:32:08,880 --> 01:32:11,960 Speaker 1: we will you know, pay back the and give restitution 1735 01:32:12,080 --> 01:32:15,320 Speaker 1: to the victims. The people who went to these colleges 1736 01:32:15,479 --> 01:32:19,960 Speaker 1: got worthless diplomas and it's very costly. Or on the 1737 01:32:20,000 --> 01:32:23,360 Speaker 1: front end, you could prevent for profit colleges in the 1738 01:32:23,400 --> 01:32:27,040 Speaker 1: first place, do not allow people to get rich off 1739 01:32:27,080 --> 01:32:31,720 Speaker 1: of federal finance and exploiting students and not have that 1740 01:32:31,800 --> 01:32:34,519 Speaker 1: as an option. Now, I assume the for profit college 1741 01:32:34,520 --> 01:32:37,679 Speaker 1: industry would say, well, well what about these poor kids. 1742 01:32:37,760 --> 01:32:40,320 Speaker 1: These you know, they have nowhere else to turn. They 1743 01:32:40,400 --> 01:32:43,000 Speaker 1: want to better themselves and make a better education. The 1744 01:32:43,040 --> 01:32:45,559 Speaker 1: for profit college industry is not a way to do that. 1745 01:32:45,680 --> 01:32:49,519 Speaker 1: I mean, these not only do they not help people's 1746 01:32:49,520 --> 01:32:53,439 Speaker 1: career prospects. In some cases, I've heard that they actively 1747 01:32:53,520 --> 01:32:55,720 Speaker 1: heard it that they go into job interviews and it 1748 01:32:55,720 --> 01:32:58,439 Speaker 1: says Corinthian Colleges on it and the job recruiters laugh 1749 01:32:58,479 --> 01:33:02,439 Speaker 1: at them. But this is not a case where we 1750 01:33:02,640 --> 01:33:06,000 Speaker 1: have to be unscrupulous and exploit a little bit because 1751 01:33:06,000 --> 01:33:08,599 Speaker 1: it's necessary. I mean, first of all, that's a bogus 1752 01:33:08,600 --> 01:33:11,800 Speaker 1: case to begin with, but it's really bogus in the 1753 01:33:11,840 --> 01:33:14,439 Speaker 1: extent of the for profit college industry. So what I 1754 01:33:14,520 --> 01:33:16,920 Speaker 1: reported on today is the fact that the debt collective, 1755 01:33:16,920 --> 01:33:21,160 Speaker 1: which is an activist group sent a letter a memo 1756 01:33:21,680 --> 01:33:27,680 Speaker 1: to the Education Department last July outlining the steps that 1757 01:33:27,760 --> 01:33:29,280 Speaker 1: can be taken, and all the steps are in the 1758 01:33:29,320 --> 01:33:32,599 Speaker 1: story of how you can dismantle the for profit college 1759 01:33:32,600 --> 01:33:37,519 Speaker 1: industry without needing Congress. You can just deny recertification access 1760 01:33:37,560 --> 01:33:40,800 Speaker 1: to the student loan program. The Education Department has the 1761 01:33:40,800 --> 01:33:43,320 Speaker 1: ability to do it. They could do it today. They 1762 01:33:43,360 --> 01:33:46,839 Speaker 1: could just deny access to the for profit college industry. Wow, 1763 01:33:47,040 --> 01:33:50,280 Speaker 1: sounds like a very good idea. And you know, I 1764 01:33:50,280 --> 01:33:53,680 Speaker 1: think it's just important for people to still sort of 1765 01:33:53,720 --> 01:33:57,040 Speaker 1: exercise their political imagination and understand that, yes, the President 1766 01:33:57,080 --> 01:33:59,479 Speaker 1: of the United States does in fact still have Bery's 1767 01:33:59,520 --> 01:34:01,760 Speaker 1: not magician and can't do everything, but he does in 1768 01:34:01,800 --> 01:34:05,080 Speaker 1: fact have some power in and of himself. David, great 1769 01:34:05,080 --> 01:34:06,720 Speaker 1: to see you. Thank you, absolutely to see you man 1770 01:34:06,880 --> 01:34:09,759 Speaker 1: always talking our pleasure. Thank you guys so much for watching. 1771 01:34:09,840 --> 01:34:12,639 Speaker 1: We really appreciate it. Just it's our actual one year 1772 01:34:12,640 --> 01:34:15,000 Speaker 1: anniversary since we actually began, which is kind of incredible, 1773 01:34:15,000 --> 01:34:16,880 Speaker 1: So thank you all so much for showing up. We 1774 01:34:16,920 --> 01:34:21,559 Speaker 1: got big happy birthday, Lolo. I remember that from eighth 1775 01:34:21,560 --> 01:34:24,439 Speaker 1: birthday from last year, so it's time truly flies we've 1776 01:34:24,439 --> 01:34:27,040 Speaker 1: got big announcements on the horizon. We'll have some on Thursday, 1777 01:34:27,280 --> 01:34:28,880 Speaker 1: and that's I guess when we'll see you. We've got 1778 01:34:28,880 --> 01:34:32,360 Speaker 1: great partner content in the interim and yeah, all right, 1779 01:34:32,360 --> 01:34:33,880 Speaker 1: we'll see you. That love you guys, See you soon.