1 00:00:00,760 --> 00:00:03,720 Speaker 1: Hey, guys, ready or not, twenty twenty four is here, 2 00:00:03,880 --> 00:00:06,320 Speaker 1: and we here at breaking points, are already thinking of 3 00:00:06,400 --> 00:00:08,600 Speaker 1: ways we can up our game for this critical election. 4 00:00:08,800 --> 00:00:11,719 Speaker 2: We rely on our premium subs to expand coverage, upgrade 5 00:00:11,760 --> 00:00:15,720 Speaker 2: the studio ad staff give you, guys, the best independent. 6 00:00:15,160 --> 00:00:16,239 Speaker 3: Coverage that is possible. 7 00:00:16,280 --> 00:00:18,320 Speaker 2: If you like what we're all about, it just means 8 00:00:18,320 --> 00:00:20,840 Speaker 2: the absolute world to have your support. But enough with that, 9 00:00:21,000 --> 00:00:38,080 Speaker 2: Let's get to the show. Some fascinating new data from 10 00:00:38,120 --> 00:00:40,760 Speaker 2: Pew Research and illustrated by the Wall Street Journal. Let's 11 00:00:40,760 --> 00:00:42,920 Speaker 2: gohead and put this up there on the screen, why 12 00:00:43,040 --> 00:00:46,920 Speaker 2: tribalism took over our politics? The focus of the piece 13 00:00:47,000 --> 00:00:49,880 Speaker 2: really comes down to some Pew data about the share 14 00:00:50,040 --> 00:00:53,360 Speaker 2: of those in each party who view the other party 15 00:00:53,840 --> 00:00:57,280 Speaker 2: very unfavorably and part of how everything has really changed 16 00:00:57,560 --> 00:01:00,920 Speaker 2: from the nineties in terms of division, and how even 17 00:01:00,960 --> 00:01:02,640 Speaker 2: if we felt divided out of that time, it's really 18 00:01:02,720 --> 00:01:05,160 Speaker 2: child's play to where we are right now. Let's put 19 00:01:05,160 --> 00:01:07,120 Speaker 2: this up there on the screen, this image, which is 20 00:01:07,240 --> 00:01:09,520 Speaker 2: very important. What you can see is that the share 21 00:01:09,560 --> 00:01:11,480 Speaker 2: of those in each party who view the other very 22 00:01:11,560 --> 00:01:15,039 Speaker 2: unfavorably are at all time highs in both parties. So 23 00:01:15,240 --> 00:01:18,760 Speaker 2: in nineteen ninety four, the share of those who saw 24 00:01:18,840 --> 00:01:21,720 Speaker 2: the other side is very unfavorably was twenty one percent 25 00:01:21,760 --> 00:01:26,200 Speaker 2: for Republicans seventeen percent for Democrats. There wasn't spike actually 26 00:01:26,280 --> 00:01:30,119 Speaker 2: in the late nineties, largely during the impeachment scandal, where 27 00:01:30,160 --> 00:01:33,720 Speaker 2: the Democrats were pretty high, but nowhere even close to 28 00:01:33,720 --> 00:01:35,880 Speaker 2: where we are right now. You can see that two 29 00:01:35,959 --> 00:01:38,360 Speaker 2: thousand and eight was actually a major jump off point 30 00:01:38,520 --> 00:01:41,200 Speaker 2: for both parties, where the share began to rise and 31 00:01:41,280 --> 00:01:44,800 Speaker 2: pretty much equalized around forty percent. And we now stand 32 00:01:45,080 --> 00:01:48,240 Speaker 2: at the most divided period really of all time, where 33 00:01:48,400 --> 00:01:51,400 Speaker 2: sixty two percent of Republicans say that they view the 34 00:01:51,400 --> 00:01:55,160 Speaker 2: other party very unfavorably and fifty four percent of Democrats. 35 00:01:55,200 --> 00:01:58,880 Speaker 2: Funnily enough, when Obama was president, the Republican vote was higher, 36 00:01:59,000 --> 00:02:01,800 Speaker 2: when Trump was president, the Democratic one was higher. Depending 37 00:02:01,800 --> 00:02:04,720 Speaker 2: on who that is, it's relatively marginal. But to have 38 00:02:04,760 --> 00:02:07,880 Speaker 2: an outright majority of both people say that they view 39 00:02:07,920 --> 00:02:12,440 Speaker 2: the others unfavorably is actually crazy because it leads to 40 00:02:12,840 --> 00:02:16,840 Speaker 2: a complete negative valance of all politics, in which everyone 41 00:02:16,960 --> 00:02:19,320 Speaker 2: is voting, or the vast majority of people are voting, 42 00:02:19,960 --> 00:02:23,320 Speaker 2: are voting against something. They're voting explicity to prevent. Like 43 00:02:23,360 --> 00:02:26,400 Speaker 2: you talked about in our show, you were saying, like 44 00:02:26,480 --> 00:02:29,520 Speaker 2: the Biden people, they're not running on like any new 45 00:02:29,560 --> 00:02:31,720 Speaker 2: abortion consensus. They're just like, no, no, we'll go back to 46 00:02:31,760 --> 00:02:33,799 Speaker 2: the old one. We just want to stop them from 47 00:02:33,840 --> 00:02:35,280 Speaker 2: doing something that you don't like. That could be a 48 00:02:35,360 --> 00:02:38,799 Speaker 2: powerful message, even in terms of the Trumpian message. 49 00:02:38,800 --> 00:02:40,280 Speaker 3: It's not that you're not trying to build anything. 50 00:02:40,600 --> 00:02:42,600 Speaker 2: Everything they're running against is like, we're going to reverse 51 00:02:42,639 --> 00:02:44,399 Speaker 2: everything bad that we think that Biden did. 52 00:02:44,880 --> 00:02:46,639 Speaker 3: We're not going to build anything new, We're just going. 53 00:02:46,639 --> 00:02:47,160 Speaker 4: To go back. 54 00:02:47,520 --> 00:02:51,600 Speaker 2: And so in both of those visions it appeals to 55 00:02:51,760 --> 00:02:54,919 Speaker 2: this particular part of the electorate. And I think though 56 00:02:55,040 --> 00:02:57,760 Speaker 2: at the same time, we should remember these are partisan people. 57 00:02:58,400 --> 00:03:00,639 Speaker 2: Many hundreds of millions of people are actually left out 58 00:03:00,639 --> 00:03:03,040 Speaker 2: of this conversation. True people are like, I'm self exiting 59 00:03:03,040 --> 00:03:04,840 Speaker 2: this entire system. I don't belong here. 60 00:03:05,240 --> 00:03:06,680 Speaker 3: I think we speak to some of those people. 61 00:03:07,200 --> 00:03:10,239 Speaker 2: But the people who are politically activated, there's no question 62 00:03:10,280 --> 00:03:11,639 Speaker 2: about where they stand politically. 63 00:03:11,960 --> 00:03:14,960 Speaker 1: There's a lot of social trends that I think have 64 00:03:15,160 --> 00:03:17,560 Speaker 1: led to this outcome. I mean, one of them is 65 00:03:17,720 --> 00:03:20,560 Speaker 1: like the self sorting that has occurred even down to 66 00:03:20,639 --> 00:03:23,680 Speaker 1: the neighborhood by neighborhood and block by block level, where 67 00:03:23,680 --> 00:03:26,000 Speaker 1: people just making choices about where they want to live, 68 00:03:26,280 --> 00:03:28,079 Speaker 1: whether they're you know, famously going to be closer to 69 00:03:28,120 --> 00:03:30,520 Speaker 1: a cracker barrel or a whole foods right, and then 70 00:03:30,880 --> 00:03:33,880 Speaker 1: just inadvertently surround themselves with people who share all of 71 00:03:33,919 --> 00:03:39,120 Speaker 1: their political views, beliefs, and partisan affiliations. And so if 72 00:03:39,120 --> 00:03:42,200 Speaker 1: you're coming into less contact with people who are of 73 00:03:42,240 --> 00:03:45,160 Speaker 1: the other party, it becomes easier to demonize them. 74 00:03:45,200 --> 00:03:46,280 Speaker 5: That's number one, because these. 75 00:03:46,200 --> 00:03:48,200 Speaker 1: Numbers we're talking about, we're not talking about like Democrats 76 00:03:48,240 --> 00:03:51,560 Speaker 1: hate Republican elites. They're talking about like Democrats hate Republicans, 77 00:03:51,560 --> 00:03:54,800 Speaker 1: and Republicans hate Democrats, no matter whether they are elite, 78 00:03:54,800 --> 00:03:58,680 Speaker 1: a regular person, whatever, And so it becomes much easier 79 00:03:58,680 --> 00:04:01,920 Speaker 1: to demonize, you know, if you're not coming in direct 80 00:04:01,960 --> 00:04:05,000 Speaker 1: contact with people who have a different political view than you. 81 00:04:05,200 --> 00:04:06,200 Speaker 5: That's number one. 82 00:04:06,960 --> 00:04:12,400 Speaker 1: Number two, you have a media ecosystem that is all 83 00:04:12,440 --> 00:04:16,039 Speaker 1: about convincing Democrats that they should hate Republicans and convincing 84 00:04:16,040 --> 00:04:18,760 Speaker 1: Republicans they should hate Democrats. And so if you're a partisan, 85 00:04:19,040 --> 00:04:22,680 Speaker 1: you may well be susceptible to that you have obviously 86 00:04:22,800 --> 00:04:24,800 Speaker 1: like the rise of social media, and I don't think 87 00:04:24,800 --> 00:04:26,880 Speaker 1: it's an accident that some of this really kicks off, 88 00:04:26,960 --> 00:04:31,040 Speaker 1: really jumpstarts in the you know, twenty tens, twenty twelve, 89 00:04:31,120 --> 00:04:35,839 Speaker 1: around that time when smartphones become you know, massively widely 90 00:04:35,880 --> 00:04:38,960 Speaker 1: available and adopted, and when you also have social media 91 00:04:39,040 --> 00:04:43,360 Speaker 1: driven by algorithms, where it really again reinforces this desire 92 00:04:43,400 --> 00:04:46,160 Speaker 1: for people to find their tribe online and like rep 93 00:04:46,200 --> 00:04:49,080 Speaker 1: as hard as they possibly can for that tribe, because 94 00:04:49,080 --> 00:04:51,240 Speaker 1: that's what gets them ahead in terms of the social 95 00:04:51,240 --> 00:04:54,240 Speaker 1: media algorithms. But then that Wall Street Journal piece also 96 00:04:54,520 --> 00:04:56,599 Speaker 1: points to a lot of social science research about just 97 00:04:56,600 --> 00:05:00,080 Speaker 1: the way that our brains work that's pretty interesting. So well, 98 00:05:00,320 --> 00:05:03,279 Speaker 1: they say that it shows our need for collective belonging 99 00:05:03,920 --> 00:05:06,080 Speaker 1: is forceful enough to reshape how we view facts and 100 00:05:06,080 --> 00:05:08,240 Speaker 1: affect our voting decisions. When our group is threatened, we 101 00:05:08,360 --> 00:05:10,840 Speaker 1: rise to its defense. So it makes sense that in 102 00:05:10,880 --> 00:05:13,360 Speaker 1: a different time, you know, thirty years ago, when people 103 00:05:13,400 --> 00:05:16,320 Speaker 1: were living in more mixed enclaves, where you had a 104 00:05:16,360 --> 00:05:20,120 Speaker 1: lot more political views and ideologies, that if you're and 105 00:05:20,279 --> 00:05:24,560 Speaker 1: you're not like forming your identity online, your sense of 106 00:05:24,600 --> 00:05:28,000 Speaker 1: belonging comes from your whole community, which is a variety 107 00:05:28,040 --> 00:05:30,440 Speaker 1: of political beliefs, the fact that you used to have 108 00:05:30,480 --> 00:05:32,520 Speaker 1: higher union density, same thing. You're going to have a 109 00:05:32,560 --> 00:05:36,279 Speaker 1: lot of different ideologies represented within that you know, union 110 00:05:36,320 --> 00:05:39,599 Speaker 1: hall environment, And so your sense of belonging comes not 111 00:05:39,760 --> 00:05:42,200 Speaker 1: from you being a Republican or you being a Democrat, 112 00:05:42,200 --> 00:05:45,560 Speaker 1: but being part of this group. As people increasingly identify 113 00:05:45,600 --> 00:05:49,200 Speaker 1: as like whatever their partisan affiliation is, then you're going 114 00:05:49,279 --> 00:05:51,400 Speaker 1: to have more of the belonging coming from just rupping 115 00:05:51,440 --> 00:05:53,279 Speaker 1: as hard as you can for that group and hating 116 00:05:53,320 --> 00:05:58,400 Speaker 1: the other group. They specifically talk about this twenty thirteen 117 00:05:58,560 --> 00:06:01,919 Speaker 1: study Saga that's really interesting where they asked people to 118 00:06:01,960 --> 00:06:05,360 Speaker 1: solve a math problem that had like a political balance too. 119 00:06:05,360 --> 00:06:08,359 Speaker 1: It was about concealed carry bands and whether or not 120 00:06:08,400 --> 00:06:12,520 Speaker 1: they reduced crime rates and if you were a political partisan, 121 00:06:13,040 --> 00:06:17,760 Speaker 1: and the correct math would lead you to like define 122 00:06:17,800 --> 00:06:19,040 Speaker 1: your own ideology. 123 00:06:19,480 --> 00:06:20,440 Speaker 5: Even people who. 124 00:06:20,240 --> 00:06:23,239 Speaker 1: Were really good at math would get the problem wrong 125 00:06:23,760 --> 00:06:27,000 Speaker 1: because they just couldn't confront that, like this data went 126 00:06:27,080 --> 00:06:31,000 Speaker 1: against the thing that they believed. So it's very it's 127 00:06:31,040 --> 00:06:34,880 Speaker 1: a very sort of hardwired human thing to want to 128 00:06:34,920 --> 00:06:37,080 Speaker 1: fit in and want to belong And then I know, 129 00:06:37,120 --> 00:06:38,599 Speaker 1: I've been going on. The last thing I'll say is 130 00:06:38,600 --> 00:06:42,719 Speaker 1: like Trump made so much politics so central to everything, 131 00:06:43,240 --> 00:06:46,040 Speaker 1: and it really kind of forced everybody to pick which 132 00:06:46,120 --> 00:06:48,200 Speaker 1: team they're on. That I think that's a big part 133 00:06:48,240 --> 00:06:50,039 Speaker 1: of this phenomenon why I have one of the worst 134 00:06:50,080 --> 00:06:51,839 Speaker 1: things that I think Trump has done to our politics. 135 00:06:51,920 --> 00:06:55,080 Speaker 2: Yeah, I don't see a lot that I disagree with there. 136 00:06:55,120 --> 00:06:57,719 Speaker 2: I mean, especially whenever you're looking at the shares of 137 00:06:57,800 --> 00:07:00,880 Speaker 2: identification and the way that people feel really about the 138 00:07:00,960 --> 00:07:04,400 Speaker 2: entire political system, the lack of faith in institutions that 139 00:07:04,520 --> 00:07:06,720 Speaker 2: need to be tribal. Even you know, one hundred years ago, 140 00:07:06,839 --> 00:07:08,760 Speaker 2: so even though people were tribal and they were still 141 00:07:08,839 --> 00:07:11,320 Speaker 2: very divided, they were just as divided as they were today. 142 00:07:11,440 --> 00:07:14,880 Speaker 2: They still had transnational institutions things like religion, church or 143 00:07:14,880 --> 00:07:19,400 Speaker 2: whatever that both national identity in some ways that went 144 00:07:19,520 --> 00:07:22,400 Speaker 2: cross brown greet that they were able to collectively kind 145 00:07:22,440 --> 00:07:24,040 Speaker 2: of think about, we don't really have a lot of 146 00:07:24,080 --> 00:07:26,880 Speaker 2: that as are even close to what those people had 147 00:07:26,920 --> 00:07:28,400 Speaker 2: at that time, which is why I think that we're 148 00:07:28,440 --> 00:07:30,480 Speaker 2: probably even more divided. Then you have the Internet, which 149 00:07:30,480 --> 00:07:32,960 Speaker 2: rewards division. So there's a lot going on today, and 150 00:07:33,000 --> 00:07:34,960 Speaker 2: I think this graph actually illustrates a lot of like, 151 00:07:35,000 --> 00:07:37,040 Speaker 2: at a core level, what's wrong with wrong with the 152 00:07:37,040 --> 00:07:37,720 Speaker 2: country right now? 153 00:07:37,800 --> 00:07:40,760 Speaker 1: Yeah, and why our politics feel different than they felt 154 00:07:40,800 --> 00:07:43,240 Speaker 1: in previously. I think, yeah, I think that's a big 155 00:07:43,240 --> 00:07:45,080 Speaker 1: part of it. So fascinating stuff. 156 00:07:47,720 --> 00:07:50,440 Speaker 2: There's some troubling new data about home ownership in America 157 00:07:50,480 --> 00:07:54,280 Speaker 2: regarding whether the primary resident actually owns their house or not, 158 00:07:54,440 --> 00:07:57,360 Speaker 2: and the ownership rates and making it unattainable and also 159 00:07:57,440 --> 00:07:59,680 Speaker 2: raising the question of who does own these houses. 160 00:08:00,080 --> 00:08:02,840 Speaker 3: With this up there on the screen, this is very interesting. 161 00:08:03,120 --> 00:08:03,840 Speaker 3: This is the. 162 00:08:03,800 --> 00:08:07,760 Speaker 2: Percent of the overall housing stock which is owned by 163 00:08:07,840 --> 00:08:11,600 Speaker 2: the actual primary resident, which has been majorly declining since 164 00:08:11,600 --> 00:08:14,720 Speaker 2: two thousand and four, but has taken such a massive 165 00:08:14,800 --> 00:08:16,320 Speaker 2: hit in twenty twenty three. 166 00:08:16,400 --> 00:08:17,880 Speaker 3: So you can go back and look. 167 00:08:18,000 --> 00:08:21,239 Speaker 2: In two thousand and seven, the primary resident was about 168 00:08:21,280 --> 00:08:24,920 Speaker 2: sixty seven percent of those people owned the house that 169 00:08:24,920 --> 00:08:25,920 Speaker 2: they were living in. 170 00:08:25,920 --> 00:08:27,280 Speaker 3: In twenty twenty three, that. 171 00:08:27,280 --> 00:08:30,559 Speaker 2: Has now dropped to below sixty percent for the first 172 00:08:30,600 --> 00:08:33,240 Speaker 2: time in the two thousands. And the reason why that 173 00:08:33,520 --> 00:08:36,960 Speaker 2: really matters is it does and shows you that the 174 00:08:37,360 --> 00:08:41,360 Speaker 2: interest rate in particular, have made it so unattainable for 175 00:08:41,440 --> 00:08:43,600 Speaker 2: people to be able to buy their homes that you 176 00:08:43,679 --> 00:08:46,760 Speaker 2: are creating a mass rentier class. I mean, remember, a 177 00:08:46,760 --> 00:08:51,280 Speaker 2: twelve percent drop is millions of people who are unable 178 00:08:51,280 --> 00:08:53,600 Speaker 2: to own their overall primary residence and are at the 179 00:08:53,640 --> 00:08:55,920 Speaker 2: mercy of their landlord. And then the question is like 180 00:08:56,040 --> 00:08:58,319 Speaker 2: who are these landlords? A lot of them are boomer 181 00:08:58,440 --> 00:09:00,920 Speaker 2: homeowners who have held the property now for a long time. 182 00:09:01,120 --> 00:09:03,040 Speaker 2: They're not going to sell them because interist rates are 183 00:09:03,040 --> 00:09:04,720 Speaker 2: so high that they won't want to buy anything else, 184 00:09:04,960 --> 00:09:06,360 Speaker 2: and they're just going to sit there and continue to 185 00:09:06,440 --> 00:09:10,079 Speaker 2: jack up rents, especially because the overall competition for rent 186 00:09:10,280 --> 00:09:12,240 Speaker 2: is going to continue to come up. So this is 187 00:09:12,240 --> 00:09:14,360 Speaker 2: actually one of the most important things that you can 188 00:09:14,360 --> 00:09:16,760 Speaker 2: look at. One of the most backward stats in any 189 00:09:17,040 --> 00:09:20,400 Speaker 2: developed economy is if you have the majority of people 190 00:09:20,440 --> 00:09:22,960 Speaker 2: renting versus the majority of people actually owning the house 191 00:09:22,960 --> 00:09:25,440 Speaker 2: that they are living in, and backsliding on that away 192 00:09:25,440 --> 00:09:28,560 Speaker 2: from two thirds nearing one half is a really dangerous marker. 193 00:09:28,640 --> 00:09:30,720 Speaker 1: Well, and you can see, let's actually put a backup 194 00:09:30,760 --> 00:09:32,679 Speaker 1: on the screen there, just so I can make one 195 00:09:32,720 --> 00:09:35,960 Speaker 1: point about this. You can see between twenty twenty two 196 00:09:36,000 --> 00:09:39,120 Speaker 1: and twenty twenty three, there's been a decline for a 197 00:09:39,320 --> 00:09:42,480 Speaker 1: while but there is a huge drop off in a 198 00:09:42,559 --> 00:09:46,240 Speaker 1: single year. So you ask yourself what has changed, and 199 00:09:46,520 --> 00:09:49,959 Speaker 1: I think the very clear answer is fed policy, interest rates, 200 00:09:50,000 --> 00:09:53,360 Speaker 1: the fact that mortgages are so wildly unaffordable at a 201 00:09:53,360 --> 00:09:56,280 Speaker 1: time when housing prices have not really come down from 202 00:09:56,440 --> 00:09:59,360 Speaker 1: the peak of their height, so prices are still extremely high. 203 00:09:59,600 --> 00:10:01,640 Speaker 1: And then you add on top of that extremely high 204 00:10:01,679 --> 00:10:05,440 Speaker 1: mortgage rates. It makes it impossible for regular people to 205 00:10:05,520 --> 00:10:08,120 Speaker 1: be able to buy a house. So guess who swoops 206 00:10:08,160 --> 00:10:11,319 Speaker 1: in and takes advantage of that situation, who doesn't necessarily 207 00:10:11,320 --> 00:10:14,280 Speaker 1: have to worry about mortgage rates. Permanent capital with plenty 208 00:10:14,280 --> 00:10:17,720 Speaker 1: of cash comes up, comes in and buys up existing 209 00:10:17,720 --> 00:10:21,760 Speaker 1: housing stock, and pushes the country even closer to their 210 00:10:21,880 --> 00:10:25,280 Speaker 1: dream of basically being America's landlords, which is something that 211 00:10:25,320 --> 00:10:28,360 Speaker 1: we have talked about and covered here extensively. This is 212 00:10:28,400 --> 00:10:31,680 Speaker 1: a disaster on a variety of levels. Number one, there's 213 00:10:31,720 --> 00:10:33,800 Speaker 1: a real argument to be made that at this point 214 00:10:33,840 --> 00:10:36,760 Speaker 1: in America, the biggest class divide is between people who 215 00:10:36,760 --> 00:10:40,840 Speaker 1: are homeowners and people who are not. Because with wages 216 00:10:40,880 --> 00:10:44,400 Speaker 1: failing to keep up with inflation and stagnating over decades, 217 00:10:44,800 --> 00:10:47,880 Speaker 1: the best way to actually build wealth in America is 218 00:10:48,320 --> 00:10:50,959 Speaker 1: to own a home, and home prices have continued to 219 00:10:51,000 --> 00:10:52,600 Speaker 1: go up and up and up. Long before we were 220 00:10:52,600 --> 00:10:56,840 Speaker 1: having this conversation about inflation, home prices were rapidly escalating 221 00:10:56,880 --> 00:10:59,880 Speaker 1: and wilding more unaffordable than they were in previous decades. 222 00:11:00,120 --> 00:11:02,600 Speaker 1: So if you own a home, that's great for you. 223 00:11:02,600 --> 00:11:05,520 Speaker 1: You're benefiting from that increase in wealth. For everybody who 224 00:11:05,640 --> 00:11:08,320 Speaker 1: is shut down of that is obviously disaster and keeps 225 00:11:08,320 --> 00:11:10,480 Speaker 1: you in this incredibly precarious position. 226 00:11:11,400 --> 00:11:12,120 Speaker 3: The more that you. 227 00:11:12,120 --> 00:11:16,160 Speaker 1: Have permanent capital coming in and commodifying the entire housing market, 228 00:11:16,400 --> 00:11:18,640 Speaker 1: the more they also control the market and can jack 229 00:11:18,760 --> 00:11:23,680 Speaker 1: up rents. Many of these companies use algorithms to set 230 00:11:23,720 --> 00:11:27,360 Speaker 1: the rents at their properties, and they've calculated they'll actually 231 00:11:27,400 --> 00:11:30,559 Speaker 1: be a little more profitable if they set the rents 232 00:11:30,679 --> 00:11:33,920 Speaker 1: beyond what the market can really bear and leave some 233 00:11:34,160 --> 00:11:38,720 Speaker 1: units vacant just to extract that extra profit out of 234 00:11:38,760 --> 00:11:42,600 Speaker 1: the residents that they do secure. So it's a disaster 235 00:11:42,720 --> 00:11:44,400 Speaker 1: on a whole lot of levels, and just on a 236 00:11:44,440 --> 00:11:47,160 Speaker 1: deeper level, Slider, I think it just really reflects how 237 00:11:47,800 --> 00:11:52,480 Speaker 1: our entire society, our entire economy, like really key parts 238 00:11:52,559 --> 00:11:56,400 Speaker 1: of just like our humanity have been commodified. Housing is 239 00:11:56,440 --> 00:11:59,760 Speaker 1: no longer really seen as just like this is the 240 00:11:59,800 --> 00:12:00,880 Speaker 1: place for people to. 241 00:12:00,880 --> 00:12:03,199 Speaker 5: Live and shelter and have their family. 242 00:12:03,559 --> 00:12:05,840 Speaker 1: No, this has got to be a money making venture 243 00:12:06,160 --> 00:12:08,760 Speaker 1: that's good for somebody's bottom line that they can, you know, 244 00:12:08,960 --> 00:12:12,000 Speaker 1: gobble up and package together and make as much money 245 00:12:12,000 --> 00:12:15,440 Speaker 1: as they possibly can and squeeze every possible penny over it. 246 00:12:15,840 --> 00:12:18,120 Speaker 1: And so it's it's a real disaster for a lot 247 00:12:18,120 --> 00:12:18,560 Speaker 1: of people. 248 00:12:18,679 --> 00:12:20,680 Speaker 2: What's interesting to me too is looking at some data 249 00:12:20,720 --> 00:12:23,760 Speaker 2: about who's actually purchasing these homes. It's not just permanent 250 00:12:23,800 --> 00:12:26,559 Speaker 2: capital who they definitely bought a lot in one and 251 00:12:26,640 --> 00:12:28,920 Speaker 2: twenty twenty two. A lot of them are large and 252 00:12:29,000 --> 00:12:31,600 Speaker 2: medium sized investors who own between ten and one hundred 253 00:12:31,640 --> 00:12:34,640 Speaker 2: homes or one hundred to one thousand homes. These are 254 00:12:34,760 --> 00:12:37,360 Speaker 2: like the you know, the small the car dealer guy, 255 00:12:37,440 --> 00:12:39,880 Speaker 2: the guy who's got millions of dollars in cash flowing 256 00:12:39,960 --> 00:12:42,200 Speaker 2: off every year. He's got to throw it somewhere, might 257 00:12:42,240 --> 00:12:43,680 Speaker 2: as well throw it. That's how you become like a 258 00:12:43,760 --> 00:12:47,400 Speaker 2: local real estate baron. These guys are purchasing homes like 259 00:12:47,440 --> 00:12:50,840 Speaker 2: nobody's business. And a small investors as well who are 260 00:12:50,880 --> 00:12:53,360 Speaker 2: taking advantage of that, they're going to eat the interest rate. 261 00:12:53,400 --> 00:12:55,960 Speaker 3: Maybe they'll refinance at some point later on. 262 00:12:56,120 --> 00:12:58,480 Speaker 2: But the point, you know, really that comes through in 263 00:12:58,520 --> 00:13:00,160 Speaker 2: all of this is that if it's not the I'm 264 00:13:00,160 --> 00:13:02,960 Speaker 2: Mary a homeowner, somebody somewhere is trying to make money 265 00:13:03,080 --> 00:13:05,080 Speaker 2: a dollar off of you. Yeah, be the big guy, 266 00:13:05,320 --> 00:13:07,360 Speaker 2: it could be the small guy, but it's better off 267 00:13:07,400 --> 00:13:09,319 Speaker 2: whenever you're the one who's actually building in the equity. 268 00:13:09,480 --> 00:13:11,600 Speaker 2: And we have some massive shrink in that number in 269 00:13:11,640 --> 00:13:14,199 Speaker 2: just a one year period, that is such a shock 270 00:13:14,240 --> 00:13:15,480 Speaker 2: to the overall housing market. 271 00:13:15,640 --> 00:13:16,760 Speaker 3: It's just going to change everything. 272 00:13:16,800 --> 00:13:18,960 Speaker 2: So look, the more that we look and the more 273 00:13:19,000 --> 00:13:20,920 Speaker 2: that we think about this, it could be like, if 274 00:13:20,920 --> 00:13:22,720 Speaker 2: you get that number to blow fifty percent or down 275 00:13:22,720 --> 00:13:25,760 Speaker 2: to forty percent, that's like societal that's a complete societal 276 00:13:25,840 --> 00:13:28,080 Speaker 2: change fromhere you've been for the last seventy five That's right. 277 00:13:27,960 --> 00:13:29,160 Speaker 5: And that's the direction we're headed in. 278 00:13:29,200 --> 00:13:32,959 Speaker 1: That is very interesting report from CNBC on how even 279 00:13:33,080 --> 00:13:36,719 Speaker 1: wealthy Americans feel about their financial status. Let's go and 280 00:13:36,760 --> 00:13:38,600 Speaker 1: put this up on the screen. Really curious to get 281 00:13:38,640 --> 00:13:39,920 Speaker 1: Sager's take on this. I want to hear what you 282 00:13:39,960 --> 00:13:43,200 Speaker 1: guys think about this. So their headline is. Even millionaires 283 00:13:43,320 --> 00:13:47,120 Speaker 1: are feeling financially insecure. According to this new report, let 284 00:13:47,160 --> 00:13:48,320 Speaker 1: me read you a little bit of us so you 285 00:13:48,320 --> 00:13:51,880 Speaker 1: get the details. Even doctors, lawyers, and other highly paid 286 00:13:51,920 --> 00:13:55,760 Speaker 1: professionals also referred to as the quote regular rich who 287 00:13:55,800 --> 00:13:58,720 Speaker 1: benefit from stable jobs, home ownership, and a well padded 288 00:13:58,720 --> 00:14:01,760 Speaker 1: retirement savings account, said they do not feel well off 289 00:14:01,800 --> 00:14:05,280 Speaker 1: at all. Some even said they feel poor. That's according 290 00:14:05,320 --> 00:14:08,240 Speaker 1: to a recent survey conducted by Bloomberg. Of those making 291 00:14:08,280 --> 00:14:10,520 Speaker 1: more than one hundred and seventy five K a year, 292 00:14:10,800 --> 00:14:13,880 Speaker 1: or roughly the top ten percent of tax filers, one 293 00:14:14,000 --> 00:14:18,440 Speaker 1: quarter said they were either very poor, poor or getting 294 00:14:18,480 --> 00:14:21,760 Speaker 1: by but things are tight. Even a share of those 295 00:14:21,840 --> 00:14:24,080 Speaker 1: making more than a half a million dollars and more 296 00:14:24,120 --> 00:14:27,960 Speaker 1: than a million dollars said the same. Despite their high 297 00:14:28,000 --> 00:14:32,080 Speaker 1: net worth, less than half of all millionaires, forty four 298 00:14:32,120 --> 00:14:35,800 Speaker 1: percent said they felt very comfortable. In fact, only twelve 299 00:14:35,840 --> 00:14:39,240 Speaker 1: percent of Americans and just twenty nine percent of millionaires 300 00:14:39,360 --> 00:14:41,120 Speaker 1: consider themselves wealthy. 301 00:14:41,360 --> 00:14:44,800 Speaker 2: Soger, this is all keeping up with the Jones behavior, 302 00:14:44,840 --> 00:14:47,640 Speaker 2: and doctors are the absolute worst. So look, if you 303 00:14:47,640 --> 00:14:50,400 Speaker 2: make one hundred and seventy five k years like they said, 304 00:14:50,400 --> 00:14:53,000 Speaker 2: you're in the top quarter. But all of this is 305 00:14:53,080 --> 00:14:55,920 Speaker 2: driven by comparing yourself to others. So the one hundred 306 00:14:55,920 --> 00:14:58,040 Speaker 2: and seventy five k guy is comparing himself to the 307 00:14:58,040 --> 00:15:00,920 Speaker 2: five hundred K guy, who's comparing himself to the millionaire. 308 00:15:01,080 --> 00:15:03,680 Speaker 2: The millionaires comparing themselves to the deca millionaire, the deca 309 00:15:03,680 --> 00:15:05,840 Speaker 2: millionaire to the cent a millionaire, the centi millionaire to 310 00:15:05,840 --> 00:15:08,600 Speaker 2: the billionaire, and then the singular billionaire to thee hundred billionaire, 311 00:15:08,720 --> 00:15:11,120 Speaker 2: and each one of those people feels comparatively poor and 312 00:15:11,400 --> 00:15:14,200 Speaker 2: is to those individual people, but refuses to look at 313 00:15:14,240 --> 00:15:17,360 Speaker 2: their overall actual place in life. I think that the 314 00:15:17,440 --> 00:15:19,800 Speaker 2: keeping up with the Jones here is the biggest problem. 315 00:15:19,800 --> 00:15:22,840 Speaker 2: I mean, it becomes like intra elite competition, like the 316 00:15:22,840 --> 00:15:26,320 Speaker 2: doctors for example, doctors are you know, they'll load themselves 317 00:15:26,360 --> 00:15:31,720 Speaker 2: up with like two boats, two houses, like Mercedes, and 318 00:15:31,760 --> 00:15:33,720 Speaker 2: they're like, oh, I barely feel like I'm making it 319 00:15:33,720 --> 00:15:36,360 Speaker 2: on half a million. Yeah, that's why, because you actually 320 00:15:36,440 --> 00:15:38,800 Speaker 2: kind of are. You've racked yourself up with the amount 321 00:15:38,800 --> 00:15:41,840 Speaker 2: of debt. To sustain that lifestyle comfortably, you'd actually probably 322 00:15:41,840 --> 00:15:43,680 Speaker 2: have to pull in like a million a million five 323 00:15:44,000 --> 00:15:46,400 Speaker 2: per year. So anyway, I think a lot of this 324 00:15:46,480 --> 00:15:49,920 Speaker 2: is a comparative problem. And it's also they even point 325 00:15:49,960 --> 00:15:52,200 Speaker 2: to this why credit card debt is so high. 326 00:15:52,480 --> 00:15:55,240 Speaker 3: Isn't even very high earners are racking up crazy amounts 327 00:15:55,240 --> 00:15:56,120 Speaker 3: of credit card debt. 328 00:15:56,560 --> 00:15:58,440 Speaker 2: I see this all the time, especially with a lot 329 00:15:58,480 --> 00:16:00,720 Speaker 2: of my my friends who are lawyers and particular, and 330 00:16:00,760 --> 00:16:03,920 Speaker 2: I think the reason why is they suffered so much, 331 00:16:04,320 --> 00:16:06,320 Speaker 2: but not only through law school, but really they. 332 00:16:06,200 --> 00:16:08,120 Speaker 5: Hate their job, miserable. 333 00:16:08,120 --> 00:16:10,000 Speaker 1: They're like, at least I should have like a boat 334 00:16:10,040 --> 00:16:11,000 Speaker 1: in a nice house, not. 335 00:16:10,960 --> 00:16:12,840 Speaker 2: Even the boat I'm talking about, like going on crazy 336 00:16:12,880 --> 00:16:14,840 Speaker 2: trips and really two thousand dollars a night in a 337 00:16:14,920 --> 00:16:18,160 Speaker 2: Miami hotel or something like that or whatever, a club, 338 00:16:18,400 --> 00:16:20,120 Speaker 2: I mean, all these things. You know, it's one of 339 00:16:20,120 --> 00:16:22,480 Speaker 2: those where it sounds very cliche, but you're like. 340 00:16:22,640 --> 00:16:24,760 Speaker 3: That's not gonna that's not gonna fix your life. You know, 341 00:16:24,880 --> 00:16:27,480 Speaker 3: like spending these things, but you know, I'm not gonna 342 00:16:27,520 --> 00:16:29,080 Speaker 3: sit there and lecture them in the moment. 343 00:16:29,120 --> 00:16:31,960 Speaker 2: It's just one of those where it's clear I think 344 00:16:32,040 --> 00:16:34,120 Speaker 2: where a lot of this comes from. Some of them 345 00:16:34,160 --> 00:16:36,600 Speaker 2: are trying to spend their ways out of emotional problems. 346 00:16:36,880 --> 00:16:38,360 Speaker 2: But I think a lot of it is also just 347 00:16:38,360 --> 00:16:40,480 Speaker 2: built on I mean even here where we live, Crystal, 348 00:16:40,680 --> 00:16:43,120 Speaker 2: you you know, a million. If you know, somebody makes 349 00:16:43,120 --> 00:16:45,120 Speaker 2: one hundred and seventy five k a year who lives 350 00:16:45,160 --> 00:16:49,600 Speaker 2: in downtown Washington, DC, you can't afford anything. You can't 351 00:16:49,600 --> 00:16:52,160 Speaker 2: buy a house, You can barely afford you. There's no 352 00:16:52,200 --> 00:16:54,360 Speaker 2: way you'd be able to rent the nicest apartment in 353 00:16:54,360 --> 00:16:54,680 Speaker 2: the town. 354 00:16:55,120 --> 00:16:56,520 Speaker 3: You could rent like the middle class. 355 00:16:56,560 --> 00:16:58,800 Speaker 2: So to them, like, yeah, you do feel poor because 356 00:16:58,800 --> 00:17:01,960 Speaker 2: compared to the other people around you, you kind of are. 357 00:17:02,280 --> 00:17:03,760 Speaker 3: But if you were to think about it on a 358 00:17:03,760 --> 00:17:04,800 Speaker 3: bigger scale, you're. 359 00:17:04,640 --> 00:17:07,800 Speaker 1: Not at all, right, I mean, there's so much going 360 00:17:07,840 --> 00:17:10,360 Speaker 1: on here. Actually, because I was thinking about we saw 361 00:17:10,359 --> 00:17:13,639 Speaker 1: that report in California, the whole state, right, not just 362 00:17:13,680 --> 00:17:15,879 Speaker 1: in San Francisco or whatever, the whole state of California. 363 00:17:16,440 --> 00:17:19,040 Speaker 1: You have to earn two hundred and nine thousand dollars 364 00:17:19,080 --> 00:17:21,400 Speaker 1: a year to qualify for a typical mortgage. And that's 365 00:17:21,520 --> 00:17:23,280 Speaker 1: if you have the twenty percent that you can put 366 00:17:23,320 --> 00:17:26,000 Speaker 1: down on a house. Okay, so in certain parts of 367 00:17:26,040 --> 00:17:29,720 Speaker 1: the country, if you're making two hundred K, if you're 368 00:17:29,720 --> 00:17:31,879 Speaker 1: making one hundred and fifty K, you would look at 369 00:17:31,880 --> 00:17:33,800 Speaker 1: this and you would be like, that's a fantastic salary. 370 00:17:33,800 --> 00:17:36,080 Speaker 1: You could live really well in other parts of the country. 371 00:17:36,119 --> 00:17:38,680 Speaker 1: If you're in Manhattan, if you're in San Francisco Bay 372 00:17:38,720 --> 00:17:44,120 Speaker 1: Area at DC, if you're in certain high expense housing markets, 373 00:17:44,280 --> 00:17:47,560 Speaker 1: then yeah, you're going to feel like from my vision 374 00:17:47,760 --> 00:17:50,400 Speaker 1: of where my class status is and what I think 375 00:17:50,440 --> 00:17:52,680 Speaker 1: I should be able to afford and what I'm actually 376 00:17:52,760 --> 00:17:55,600 Speaker 1: able to afford, these are wildly different. You know, these 377 00:17:55,600 --> 00:17:58,439 Speaker 1: are wildly different things. And then that does lead to like, Okay, well, 378 00:17:58,520 --> 00:18:00,919 Speaker 1: let me just take on the debt to live the 379 00:18:00,960 --> 00:18:05,320 Speaker 1: life that I think that my station merits, right. I 380 00:18:05,359 --> 00:18:09,720 Speaker 1: think there's also a lot of because we have such 381 00:18:10,240 --> 00:18:14,600 Speaker 1: wide and high inequality where there's you know, upper middle 382 00:18:14,600 --> 00:18:16,520 Speaker 1: class and wealthy people and then there's you know, a 383 00:18:16,520 --> 00:18:19,840 Speaker 1: working class that's really struggling because there's such a gulf 384 00:18:19,960 --> 00:18:22,399 Speaker 1: and basically the middle class wh's has been destroyed and 385 00:18:22,440 --> 00:18:26,840 Speaker 1: decimated and vettished. There's also a lot of terror among 386 00:18:27,240 --> 00:18:30,920 Speaker 1: upper middle class people or the quote unquote regular rich, 387 00:18:31,040 --> 00:18:34,080 Speaker 1: even about their kids not being able to hold on 388 00:18:34,280 --> 00:18:36,840 Speaker 1: to that station. And so I think some of the 389 00:18:36,880 --> 00:18:40,439 Speaker 1: anxiety is about that too, of like, not only do 390 00:18:40,480 --> 00:18:42,440 Speaker 1: I have to make sure I'm good. I got to 391 00:18:42,480 --> 00:18:44,159 Speaker 1: make sure my kids are going to be able to 392 00:18:44,200 --> 00:18:48,320 Speaker 1: hold on by their fingernails to the status that I'm at, 393 00:18:48,359 --> 00:18:52,520 Speaker 1: because God forbid they fall out of this more like elite, 394 00:18:52,560 --> 00:18:55,439 Speaker 1: higher class status that we've been able to achieve. So 395 00:18:55,480 --> 00:18:58,439 Speaker 1: I think that's part of it as well. But you know, 396 00:18:58,520 --> 00:19:03,080 Speaker 1: to one thing that I've been thinking about recently is, uh, 397 00:19:03,600 --> 00:19:05,760 Speaker 1: you had a bunch of This is going to seem 398 00:19:05,760 --> 00:19:06,399 Speaker 1: like a real asia. 399 00:19:06,480 --> 00:19:08,280 Speaker 5: But I'll get to how this connects in a minute. 400 00:19:08,280 --> 00:19:10,400 Speaker 1: You've had a bunch of kind of just like regular 401 00:19:10,440 --> 00:19:12,960 Speaker 1: standard issue Democrats who were elected in these Midwestern states 402 00:19:13,000 --> 00:19:18,439 Speaker 1: in Minnesota, Illinois, and Wisconsin, Michigan, Pennsylvania, and typically, and 403 00:19:18,480 --> 00:19:22,120 Speaker 1: they were elected largely on this new democratic coalition that's 404 00:19:22,119 --> 00:19:23,240 Speaker 1: like upper class liberals. 405 00:19:23,359 --> 00:19:23,560 Speaker 3: Right. 406 00:19:24,760 --> 00:19:27,280 Speaker 1: Typically, when this has happened, like when this happened in Virginia, 407 00:19:27,520 --> 00:19:30,520 Speaker 1: there was zero effort to focus on economics. When you 408 00:19:30,560 --> 00:19:32,760 Speaker 1: win based on this coalition ends up all being like 409 00:19:32,800 --> 00:19:37,320 Speaker 1: basically cultural signifier issues. However, in these states, there actually 410 00:19:37,400 --> 00:19:40,639 Speaker 1: has been a push on economics. In Minnesota in particular, 411 00:19:41,160 --> 00:19:44,119 Speaker 1: even though the coalition that elected that governor there and 412 00:19:44,160 --> 00:19:48,760 Speaker 1: Tim Walls was this sort of like affluent, upper middle class, 413 00:19:48,880 --> 00:19:54,159 Speaker 1: college educated constituency. They focused on you know, free school lunches. 414 00:19:54,160 --> 00:19:57,480 Speaker 1: They've actually focused on unions and collective bargaining. They've actually 415 00:19:57,480 --> 00:19:59,880 Speaker 1: focused on I mean, they've done some cultural stuff as well. 416 00:20:00,000 --> 00:20:02,360 Speaker 1: That there's been a major focus on economics that has 417 00:20:02,400 --> 00:20:05,800 Speaker 1: surprised me, and I have sort of work shopping a 418 00:20:05,920 --> 00:20:10,919 Speaker 1: theory that part of that is because this anxiety, this 419 00:20:11,000 --> 00:20:15,560 Speaker 1: like economic anxiety, has really creeped up the economic ladder 420 00:20:15,840 --> 00:20:18,560 Speaker 1: where even if you are a college educated person, especially 421 00:20:18,560 --> 00:20:21,400 Speaker 1: if you're a young college educated person, just coming out 422 00:20:21,720 --> 00:20:24,600 Speaker 1: looking at housing prices, imagining how you're ever going to 423 00:20:24,600 --> 00:20:28,040 Speaker 1: achieve this like, you know, stable middle class life, it 424 00:20:28,119 --> 00:20:32,320 Speaker 1: seems impossible. And so the priorities of that coalition may 425 00:20:32,359 --> 00:20:35,040 Speaker 1: have shifted over the past number of years as housing 426 00:20:35,040 --> 00:20:37,960 Speaker 1: and these things have become really unattainable even for people 427 00:20:37,960 --> 00:20:41,000 Speaker 1: who have that you know, college educated stamp of approval 428 00:20:41,040 --> 00:20:43,200 Speaker 1: credential in their back pocket. 429 00:20:43,640 --> 00:20:46,359 Speaker 5: So I think that might be part of why some of. 430 00:20:46,400 --> 00:20:49,400 Speaker 1: The policies in these states have been better than frankly 431 00:20:49,480 --> 00:20:52,560 Speaker 1: what I expected with like this these standard issue democrats 432 00:20:52,560 --> 00:20:55,440 Speaker 1: elected by an affluent, college educated liberal base. 433 00:20:55,640 --> 00:20:56,840 Speaker 3: Yeah, it's possible, I don't know. 434 00:20:56,880 --> 00:20:59,240 Speaker 2: I think a lot of it has just more around 435 00:20:59,280 --> 00:21:01,479 Speaker 2: their own life, Like you said, class anxiety. Now it's 436 00:21:01,520 --> 00:21:04,160 Speaker 2: not a bad thing if it goes down to everybody else, 437 00:21:04,240 --> 00:21:06,320 Speaker 2: like we will see. But for example, Biden being like, 438 00:21:06,440 --> 00:21:08,240 Speaker 2: I'm not going to raise taxes on anyone over a 439 00:21:08,320 --> 00:21:11,240 Speaker 2: quarter two hundred fifty thousand dollars, and you're like, well, 440 00:21:11,280 --> 00:21:13,600 Speaker 2: Obama said he wouldn't want anyone or sorry, on anyone 441 00:21:13,640 --> 00:21:14,960 Speaker 2: over four hundred thousand dollars. 442 00:21:15,160 --> 00:21:18,040 Speaker 3: Obama said two hundred and fifty. So what happened? 443 00:21:18,880 --> 00:21:20,600 Speaker 2: Where did that come in? It's like, oh, well, a 444 00:21:20,640 --> 00:21:22,879 Speaker 2: lot of those people have turned into Democrats. That's the 445 00:21:22,920 --> 00:21:23,520 Speaker 2: reason why. 446 00:21:23,840 --> 00:21:26,080 Speaker 5: Yeah, well they didn't really end up raising taxes on anybody. 447 00:21:26,119 --> 00:21:28,920 Speaker 1: Well, they as much as I would like them to 448 00:21:29,000 --> 00:21:30,800 Speaker 1: raise taxes on the wealthy, they didn't want a lot 449 00:21:30,800 --> 00:21:31,000 Speaker 1: of that. 450 00:21:31,040 --> 00:21:33,800 Speaker 2: We're ruling out actually a huge portion of the taxpayer 451 00:21:33,880 --> 00:21:36,160 Speaker 2: funded base. You know, whenever we're talking about two fifty 452 00:21:36,200 --> 00:21:40,119 Speaker 2: to four hundred, that's actually millions of people. Well, the 453 00:21:40,240 --> 00:21:43,639 Speaker 2: change in that is largely because of exactly what we 454 00:21:43,680 --> 00:21:46,119 Speaker 2: were talking about, the change in the Democratic coalition. So 455 00:21:46,359 --> 00:21:48,800 Speaker 2: I think it's one of those where they will only 456 00:21:48,960 --> 00:21:49,800 Speaker 2: do it as. 457 00:21:49,640 --> 00:21:50,720 Speaker 3: Long as it affects them. 458 00:21:50,960 --> 00:21:52,879 Speaker 2: But there are actually a lot of things though, that 459 00:21:52,960 --> 00:21:54,920 Speaker 2: are going to affect the lives of somebody between the 460 00:21:54,960 --> 00:21:57,359 Speaker 2: one seventy five to two hundred to four hundred range 461 00:21:57,520 --> 00:21:59,920 Speaker 2: that if you really wanted to fix a lot, it's 462 00:22:00,080 --> 00:22:02,119 Speaker 2: going to come to them. And will when when things 463 00:22:02,119 --> 00:22:05,000 Speaker 2: do come for them and some of their lifestyle they're 464 00:22:05,040 --> 00:22:07,919 Speaker 2: keeping up with the Jones behavior and all that, will 465 00:22:08,000 --> 00:22:09,400 Speaker 2: their priorities stay the same? 466 00:22:09,680 --> 00:22:11,680 Speaker 3: I don't know, that's a big, big question. 467 00:22:12,000 --> 00:22:14,920 Speaker 1: Yeah, well I see it even in like the national 468 00:22:14,920 --> 00:22:18,640 Speaker 1: support for unions, yes, which is at almost historic highs, 469 00:22:18,680 --> 00:22:22,280 Speaker 1: you know, and really is a cross partisan and cross 470 00:22:22,320 --> 00:22:25,600 Speaker 1: you know, strongest certainly among the working class, but even 471 00:22:25,640 --> 00:22:30,400 Speaker 1: has you know, become more cross class. And so of course, 472 00:22:30,600 --> 00:22:33,120 Speaker 1: if you're making two hundred and fifty K, no matter 473 00:22:33,119 --> 00:22:35,280 Speaker 1: where you live in the country, you're doing way better 474 00:22:35,560 --> 00:22:38,080 Speaker 1: than the overwhelming majority of Americans. And like, let's be 475 00:22:38,119 --> 00:22:39,880 Speaker 1: clear about it, you know, I'm not shedding a tear 476 00:22:39,920 --> 00:22:43,159 Speaker 1: for you, but especially with housing costs, I think it 477 00:22:43,160 --> 00:22:47,440 Speaker 1: has made them feel much more precarious than they previously done. 478 00:22:47,480 --> 00:22:49,719 Speaker 1: With education costs too, and health care costs. I mean, 479 00:22:49,760 --> 00:22:55,040 Speaker 1: all these like core middle class items that are so 480 00:22:55,280 --> 00:22:58,920 Speaker 1: essential to having, just like the basics of American treatment, 481 00:22:58,920 --> 00:23:02,679 Speaker 1: becomes so wildly expensive that even people who are making 482 00:23:02,960 --> 00:23:07,880 Speaker 1: really good salaries are still feeling like anxious about whether 483 00:23:07,920 --> 00:23:09,320 Speaker 1: they're going to be able to do this or whether 484 00:23:09,320 --> 00:23:11,480 Speaker 1: they're going to be able to protect it for their kids. 485 00:23:11,520 --> 00:23:15,440 Speaker 1: So anyway, interesting look at a class anxiety and how 486 00:23:15,480 --> 00:23:16,600 Speaker 1: it is spreading very much. 487 00:23:16,680 --> 00:23:17,359 Speaker 3: We'll see you guys. 488 00:23:17,280 --> 00:23:23,520 Speaker 4: Later, all right, So, the Spain women's soccer football team 489 00:23:23,960 --> 00:23:27,639 Speaker 4: won the Women's World Cup and now the head of 490 00:23:27,680 --> 00:23:31,040 Speaker 4: the Spanish football federation, his name is Luis Rubials, has 491 00:23:31,480 --> 00:23:34,960 Speaker 4: found himself in a huge controversy that is not going 492 00:23:35,000 --> 00:23:37,560 Speaker 4: away anytime soon. You'll know why after we play this 493 00:23:37,640 --> 00:23:38,800 Speaker 4: next video, Dar. 494 00:23:38,920 --> 00:23:39,639 Speaker 3: De marab. 495 00:23:42,000 --> 00:23:47,080 Speaker 4: They can Bernal step planet. 496 00:23:47,320 --> 00:23:48,840 Speaker 3: They can Berna step planet. 497 00:23:48,920 --> 00:23:50,919 Speaker 4: You can see him kissing one of the soccer players 498 00:23:50,920 --> 00:23:54,280 Speaker 4: there on the lips. So that's a midfielder, Jennifer Amoso. 499 00:23:54,359 --> 00:23:56,080 Speaker 4: We can put the next tear sheet up on the screen. 500 00:23:56,119 --> 00:24:00,760 Speaker 4: This is from CNN. Now, Rubiali said he made a mistake, 501 00:24:00,880 --> 00:24:04,119 Speaker 4: but he said the kiss was consensual. The woman says 502 00:24:04,320 --> 00:24:07,679 Speaker 4: she did not give her permission and felt violated. Fortunately 503 00:24:07,720 --> 00:24:10,760 Speaker 4: for her, it's on camera and does not seem to 504 00:24:10,800 --> 00:24:11,920 Speaker 4: be consensual at all. 505 00:24:12,000 --> 00:24:14,960 Speaker 6: He's got both his hands on the back of her head. 506 00:24:15,000 --> 00:24:16,359 Speaker 3: What kind of like. 507 00:24:16,280 --> 00:24:18,600 Speaker 4: He's going down the line in the video and doing 508 00:24:18,600 --> 00:24:21,680 Speaker 4: this to all of the women. He's doing it after 509 00:24:21,680 --> 00:24:23,800 Speaker 4: they win the World Cup, so he knows the eyes 510 00:24:23,800 --> 00:24:26,120 Speaker 4: of the world literally are on him. A World Cup, 511 00:24:26,200 --> 00:24:29,080 Speaker 4: there's cameras everywhere. He clearly thinks that he's not doing 512 00:24:29,080 --> 00:24:31,600 Speaker 4: anything wrong. In the moment, does say that he made 513 00:24:31,640 --> 00:24:33,639 Speaker 4: a mistake. Now we can put the next element up 514 00:24:33,640 --> 00:24:36,440 Speaker 4: on the screen here, his mom is on a hunger strike. 515 00:24:36,880 --> 00:24:40,679 Speaker 4: As calls have mounted for his resignation, he's kind of 516 00:24:40,680 --> 00:24:43,280 Speaker 4: making the defense that, like, listen, I made a mistake, 517 00:24:43,400 --> 00:24:46,240 Speaker 4: but is it as bad as you're saying, is that 518 00:24:46,280 --> 00:24:50,640 Speaker 4: I should actually resign? That's his defense. Ryan, you were 519 00:24:50,640 --> 00:24:53,520 Speaker 4: recently in Spain as a tourist to Spain. 520 00:24:53,800 --> 00:24:55,560 Speaker 3: Was what do you make of this? 521 00:24:55,920 --> 00:24:58,680 Speaker 6: I mean, he's trying to ride the backlash to the 522 00:24:59,400 --> 00:25:02,680 Speaker 6: global back flash to the me too movement and say 523 00:25:02,720 --> 00:25:05,720 Speaker 6: that you know it's a witch hunt and you know this. 524 00:25:06,119 --> 00:25:08,760 Speaker 6: I guess he's doing the boys will be boys type 525 00:25:08,760 --> 00:25:12,040 Speaker 6: of thing. I'm trying to imagine in my mind if 526 00:25:12,160 --> 00:25:17,840 Speaker 6: the men's Spanish team won the World Cup, him going 527 00:25:17,880 --> 00:25:20,920 Speaker 6: down the line and planting big wet kisses on all 528 00:25:20,920 --> 00:25:27,040 Speaker 6: the men. I suppose it's remotely within the No, it's not. 529 00:25:27,160 --> 00:25:29,600 Speaker 6: I can't there's I just can't get myself to imagine it. 530 00:25:29,680 --> 00:25:31,320 Speaker 6: Like this is clearly. 531 00:25:32,480 --> 00:25:35,520 Speaker 3: Gendered. It's gross. 532 00:25:35,560 --> 00:25:39,280 Speaker 6: It's like, dude, like, I mean, what are you doing? 533 00:25:40,440 --> 00:25:43,760 Speaker 6: And also this like entitlement to the job. It's like 534 00:25:45,160 --> 00:25:47,200 Speaker 6: you had you had a job that paid really well, 535 00:25:47,280 --> 00:25:50,000 Speaker 6: that that put you at the top of this position, 536 00:25:50,800 --> 00:25:53,919 Speaker 6: and now everybody wants you out of it. So go 537 00:25:55,040 --> 00:26:00,119 Speaker 6: like that, yts just go like you if you want to, 538 00:26:01,080 --> 00:26:03,400 Speaker 6: you know, keep the trust of the people that you're 539 00:26:03,840 --> 00:26:05,760 Speaker 6: in charge of in this job, like you got to 540 00:26:05,800 --> 00:26:07,840 Speaker 6: behave better and you have to win their trust, and 541 00:26:07,880 --> 00:26:08,240 Speaker 6: you didn't. 542 00:26:08,280 --> 00:26:09,119 Speaker 3: You lost it. So go. 543 00:26:09,960 --> 00:26:11,560 Speaker 4: I think that's a good point that he's lost the 544 00:26:11,560 --> 00:26:12,240 Speaker 4: trust of people. 545 00:26:12,400 --> 00:26:12,600 Speaker 3: Now. 546 00:26:12,640 --> 00:26:16,360 Speaker 4: He gave the speech that sein in accurately characterizes as defiant, 547 00:26:16,440 --> 00:26:18,440 Speaker 4: and if you go watch it, defiant is really the 548 00:26:18,520 --> 00:26:20,280 Speaker 4: right word for it, where he says. 549 00:26:22,040 --> 00:26:24,160 Speaker 3: This is been a room full of like hooting dudes too. 550 00:26:24,440 --> 00:26:28,560 Speaker 4: He says, yeah, he's what he called the quote spontaneous 551 00:26:29,040 --> 00:26:36,680 Speaker 4: mutual euphoric and with consent spontaneous mutual euphoric and with consent. 552 00:26:37,280 --> 00:26:39,440 Speaker 4: Hell of a self defense there, and he says he's 553 00:26:39,480 --> 00:26:41,440 Speaker 4: going to quote fight to the end. As we mentioned earlier, 554 00:26:41,520 --> 00:26:43,840 Speaker 4: his mom feels so struggling about this that she's on 555 00:26:44,000 --> 00:26:46,480 Speaker 4: hunger strike. And I don't want to actually minimize that, 556 00:26:46,600 --> 00:26:50,720 Speaker 4: because there are men who feel like they are bearing 557 00:26:50,880 --> 00:26:57,280 Speaker 4: the brunt of the sort of collective reconsideration of sexual 558 00:26:57,320 --> 00:27:02,840 Speaker 4: norms post sexual revolution. And you know, women mothers have 559 00:27:02,920 --> 00:27:07,200 Speaker 4: to watch their sons in some cases be unfairly maligned 560 00:27:07,320 --> 00:27:12,040 Speaker 4: and smeared for offenses that are, you know, maybe more 561 00:27:12,080 --> 00:27:14,720 Speaker 4: more minor than the media scandal. You know that may 562 00:27:14,720 --> 00:27:16,719 Speaker 4: indeed be wrong, but are sort of more minor than 563 00:27:16,760 --> 00:27:19,480 Speaker 4: the media scandal makes them out to be. This video, 564 00:27:19,600 --> 00:27:24,359 Speaker 4: I think is really interesting because women like get stuff 565 00:27:24,400 --> 00:27:27,760 Speaker 4: like this more common than I think people more commonly 566 00:27:27,800 --> 00:27:28,760 Speaker 4: than people realize. 567 00:27:28,800 --> 00:27:30,880 Speaker 3: And it's and from our current president of the United States. 568 00:27:30,960 --> 00:27:35,080 Speaker 4: Yes, exactly as conservatives lament and criticize them for. And 569 00:27:35,160 --> 00:27:37,960 Speaker 4: it is uncomfortable. And so the fact that it's played 570 00:27:37,960 --> 00:27:39,360 Speaker 4: out in front of the world. 571 00:27:39,320 --> 00:27:41,360 Speaker 3: I think should be a lesson. 572 00:27:41,119 --> 00:27:44,159 Speaker 4: Maybe to to men who grew up in a different 573 00:27:44,200 --> 00:27:48,000 Speaker 4: era when this was probably still uncomfortable for women, although 574 00:27:48,119 --> 00:27:51,680 Speaker 4: those women were, you know, just like incredible generations of 575 00:27:51,720 --> 00:27:54,199 Speaker 4: women who put up with this, uh and you know, 576 00:27:54,240 --> 00:27:56,120 Speaker 4: called it out, but put up with it. And then 577 00:27:56,160 --> 00:27:58,160 Speaker 4: you sort of put on a brave face. And it's 578 00:27:58,160 --> 00:28:00,159 Speaker 4: not to say that they should have to, but it 579 00:28:00,200 --> 00:28:02,679 Speaker 4: is to say that, you know, it's is this the 580 00:28:02,680 --> 00:28:05,159 Speaker 4: same thing as a sexual assault? I don't think so, 581 00:28:05,400 --> 00:28:07,600 Speaker 4: But is it, you know, also uncomfortable in something men 582 00:28:07,680 --> 00:28:10,239 Speaker 4: shouldn't be doing. Yes, So the question of whether it 583 00:28:10,560 --> 00:28:13,800 Speaker 4: rises to a resignation worthy offense, I think Ryan comes 584 00:28:13,800 --> 00:28:15,400 Speaker 4: to the point where it's like, well, you're the head 585 00:28:15,400 --> 00:28:18,040 Speaker 4: of the federation and everyone's like, dude, you blew it? 586 00:28:18,119 --> 00:28:19,560 Speaker 3: Yeah, step down. Yeah. 587 00:28:19,600 --> 00:28:23,320 Speaker 6: And one thing that I think is important to remember 588 00:28:23,320 --> 00:28:27,080 Speaker 6: about the consequences throughout the kind of me too movement 589 00:28:27,160 --> 00:28:31,480 Speaker 6: is that a lot of it correlated with how much 590 00:28:31,520 --> 00:28:35,080 Speaker 6: goodwill people had built up kind of previously. Like if 591 00:28:35,119 --> 00:28:38,080 Speaker 6: you look back at the cases of people who survived 592 00:28:38,120 --> 00:28:42,640 Speaker 6: scandals and people who didn't survive scandals, in almost every 593 00:28:42,680 --> 00:28:44,400 Speaker 6: case it correlates with how much of a jerk you 594 00:28:44,440 --> 00:28:48,840 Speaker 6: were to people, and that and then that corresponded to 595 00:28:48,880 --> 00:28:52,080 Speaker 6: how much kind of benefit of the doubt you gave 596 00:28:52,200 --> 00:28:57,280 Speaker 6: somebody in a murky situation, and if nobody's giving you 597 00:28:57,320 --> 00:29:00,440 Speaker 6: any benefit of the doubt, and then you throw your 598 00:29:00,440 --> 00:29:03,680 Speaker 6: hands on the back of this woman's head, kiss her 599 00:29:03,680 --> 00:29:06,160 Speaker 6: in front of the entire world on the lips. She says, 600 00:29:06,360 --> 00:29:09,840 Speaker 6: she hated it people, and and you've been a jerk 601 00:29:09,880 --> 00:29:13,000 Speaker 6: to people and particularly to women over the years. Then 602 00:29:13,000 --> 00:29:15,200 Speaker 6: people are gonna be like, yeah, I'm with her, like 603 00:29:16,080 --> 00:29:19,680 Speaker 6: because because I believe it, Whereas with with other people 604 00:29:19,680 --> 00:29:24,440 Speaker 6: who survived, you know, allegations, they'd say, m I know, 605 00:29:24,760 --> 00:29:28,200 Speaker 6: you know, that's not who this person is. And then 606 00:29:28,320 --> 00:29:30,600 Speaker 6: let's say they even if they believe the allegation, they 607 00:29:30,640 --> 00:29:31,640 Speaker 6: let's say they made a mistake. 608 00:29:32,000 --> 00:29:34,760 Speaker 3: So they end up coming through it in the end. 609 00:29:36,040 --> 00:29:40,720 Speaker 6: And so what the reaction from so many people who 610 00:29:40,760 --> 00:29:42,920 Speaker 6: know him so well tells me, even though I have 611 00:29:42,920 --> 00:29:44,920 Speaker 6: no evidence, I don't know, never heard of the guy before, 612 00:29:45,680 --> 00:29:47,920 Speaker 6: is that you know he didn't have a whole lot 613 00:29:47,920 --> 00:29:49,160 Speaker 6: of good will going into this. 614 00:29:49,960 --> 00:29:52,360 Speaker 3: Yeah I would. I'd go out on a limb and say that. 615 00:29:52,160 --> 00:29:55,600 Speaker 4: That's probably And you can tell from the women's body language, 616 00:29:55,640 --> 00:29:57,280 Speaker 4: like they kind of lock up some of them do 617 00:29:57,320 --> 00:30:00,239 Speaker 4: when by the way, like some women don't mind this 618 00:30:00,440 --> 00:30:03,440 Speaker 4: and like probably you know, like are willing to just 619 00:30:03,480 --> 00:30:05,520 Speaker 4: like go along, get along, but like they're also in 620 00:30:05,560 --> 00:30:07,800 Speaker 4: this case, it's not just something that happened with like 621 00:30:07,840 --> 00:30:11,480 Speaker 4: a friend at a party. It's their professional implications. He 622 00:30:11,520 --> 00:30:15,200 Speaker 4: has power over this woman, so she's got the eyes 623 00:30:15,240 --> 00:30:17,280 Speaker 4: of the world on her, she knows that she's got 624 00:30:17,360 --> 00:30:20,240 Speaker 4: rows of cameras behind her, and gets sort of grabbed 625 00:30:20,240 --> 00:30:22,080 Speaker 4: by this guy who has some power over her on 626 00:30:22,960 --> 00:30:25,520 Speaker 4: national TV. She can't do what a lot of women 627 00:30:25,560 --> 00:30:27,400 Speaker 4: would do, or she probably feels less able to do 628 00:30:27,440 --> 00:30:28,880 Speaker 4: what a lot of women would do, just push them 629 00:30:28,920 --> 00:30:31,239 Speaker 4: back and be like hey, man, cut it out, or 630 00:30:31,400 --> 00:30:33,440 Speaker 4: even playfully to do that, Like you don't want to 631 00:30:33,480 --> 00:30:35,120 Speaker 4: do that to someone who has power over you. There's 632 00:30:35,120 --> 00:30:37,200 Speaker 4: no incentive to do that to someone who's power over you, 633 00:30:37,280 --> 00:30:39,200 Speaker 4: even though the world probably would have rallied behind her, 634 00:30:39,280 --> 00:30:41,480 Speaker 4: That's not what your brain is telling you in the 635 00:30:41,520 --> 00:30:44,360 Speaker 4: moment when you know your ability to continue on this 636 00:30:44,440 --> 00:30:48,080 Speaker 4: team doing what you love, making money, you know, providing 637 00:30:48,120 --> 00:30:50,920 Speaker 4: for yourself and potentially your family is on the line 638 00:30:51,320 --> 00:30:53,520 Speaker 4: because you could be embarrassing this DUDEO has power over 639 00:30:53,560 --> 00:30:57,080 Speaker 4: you on TV. There's no incentive to do that. So 640 00:30:57,240 --> 00:31:00,800 Speaker 4: it's not just like a typical social either. It's like 641 00:31:01,040 --> 00:31:02,440 Speaker 4: it's a pretty inappropriate thing to do. 642 00:31:02,640 --> 00:31:04,000 Speaker 3: Yeah, and don't be a jerk. 643 00:31:04,320 --> 00:31:06,880 Speaker 4: And nobody has mentioned the Cuomo defense where he's like, 644 00:31:07,280 --> 00:31:10,080 Speaker 4: it's just I'm Italian, like nobody is, okay. 645 00:31:10,280 --> 00:31:11,400 Speaker 3: Spanish, I'm Spanish. 646 00:31:11,480 --> 00:31:15,600 Speaker 4: Yeah, Like what what's a big deal? All right? Well, 647 00:31:16,560 --> 00:31:20,280 Speaker 4: I didn't realize Ryan that you were nine avid football fan. 648 00:31:20,880 --> 00:31:22,720 Speaker 3: No, no, not really. 649 00:31:22,840 --> 00:31:25,080 Speaker 4: Yeah, that's why we have we both have baseballs behind 650 00:31:25,160 --> 00:31:27,400 Speaker 4: us if people haven't mentioned that we both when when 651 00:31:27,440 --> 00:31:29,480 Speaker 4: Sager and Crystal were telling us what to stock on 652 00:31:29,520 --> 00:31:32,080 Speaker 4: the shelves, both of us independently without. 653 00:31:32,480 --> 00:31:35,360 Speaker 6: Talking at school. Never really liked it that much. I 654 00:31:35,720 --> 00:31:39,680 Speaker 6: love I did solve the Catalan independence issue when I 655 00:31:39,720 --> 00:31:40,280 Speaker 6: was in Spain. 656 00:31:40,440 --> 00:31:44,320 Speaker 3: Really do they know that? The Cats? They don't know yet. 657 00:31:44,360 --> 00:31:46,600 Speaker 6: Here I'll tell you how I solved it, Okay. Also, 658 00:31:46,680 --> 00:31:49,000 Speaker 6: this is an incredible story. Yes, and we're over eight minutes, 659 00:31:49,040 --> 00:31:49,880 Speaker 6: but I'll tell it anyway. 660 00:31:50,000 --> 00:31:50,480 Speaker 4: We don't care. 661 00:31:50,600 --> 00:31:54,280 Speaker 6: So the span the Spanish, So the Spanish elections like 662 00:31:54,320 --> 00:31:56,360 Speaker 6: a month ago or whatever, everybody expected the right wing 663 00:31:56,440 --> 00:31:59,920 Speaker 6: was gonna win. They fell just short forty eight percent 664 00:32:00,120 --> 00:32:02,160 Speaker 6: or something like that, so they don't have enough to 665 00:32:02,200 --> 00:32:04,880 Speaker 6: take power, so they need to form a coalition. Back 666 00:32:04,880 --> 00:32:08,520 Speaker 6: in twenty seventeen, you remember this, the Catalan kind of 667 00:32:08,520 --> 00:32:12,200 Speaker 6: independence movement held its own referendum where they were going 668 00:32:12,280 --> 00:32:14,440 Speaker 6: to have a vote and then they were just going 669 00:32:14,480 --> 00:32:17,920 Speaker 6: to declare independence. Catalan is Barcelona, it's the kind of 670 00:32:17,960 --> 00:32:22,480 Speaker 6: Mediterranean area area around there, and it was illegal and 671 00:32:22,520 --> 00:32:25,800 Speaker 6: the police came in, beat up a bunch of people, 672 00:32:26,400 --> 00:32:30,000 Speaker 6: arrested most of the leadership of the Catalan independence movement, 673 00:32:30,720 --> 00:32:34,160 Speaker 6: and the head of that movement escaped. They didn't like 674 00:32:34,200 --> 00:32:36,320 Speaker 6: he was going from like safe house to safe house, 675 00:32:36,800 --> 00:32:39,960 Speaker 6: got across the border into France, and he's now in Switzerland. 676 00:32:40,200 --> 00:32:43,360 Speaker 6: He's been in exile for the last six years. 677 00:32:44,240 --> 00:32:45,360 Speaker 3: The right has. 678 00:32:45,200 --> 00:32:49,280 Speaker 6: Forty eight percent, Left's got less than fifty percent. The 679 00:32:49,360 --> 00:32:54,440 Speaker 6: Catalan Independence Party is now the kingmaker, and so whoever 680 00:32:54,480 --> 00:32:58,719 Speaker 6: they form a coalition with becomes the government in Spain. 681 00:33:00,000 --> 00:33:03,440 Speaker 6: Who are they negotiating with the fugitive in Switzerland. You 682 00:33:03,480 --> 00:33:06,000 Speaker 6: could not write a better story than this. So he 683 00:33:06,080 --> 00:33:10,040 Speaker 6: is currently negotiating with both sides and he's trying to 684 00:33:10,040 --> 00:33:13,800 Speaker 6: get a legal vote, legal referendum, and then other things 685 00:33:13,800 --> 00:33:17,520 Speaker 6: that the Catalan independence crowd wants. Here's how you solve 686 00:33:17,560 --> 00:33:19,920 Speaker 6: the here's how you solve this. You drive around Europe. 687 00:33:19,960 --> 00:33:23,520 Speaker 6: There's no borders, just how you like it. 688 00:33:23,680 --> 00:33:27,560 Speaker 3: No borders. Everybody uses the EURO. I mean there's EU borders. 689 00:33:28,160 --> 00:33:31,440 Speaker 6: Right, I mean, if you drive into the sea, you're 690 00:33:31,440 --> 00:33:34,160 Speaker 6: going to get into a border. But it's like, what 691 00:33:34,200 --> 00:33:36,440 Speaker 6: do you mean you want independence? Like, you're still going 692 00:33:36,480 --> 00:33:38,440 Speaker 6: to use the Euro, You're still going to be within 693 00:33:38,960 --> 00:33:41,760 Speaker 6: the EU. What they really mean is they want their 694 00:33:41,840 --> 00:33:44,280 Speaker 6: language to be respect of their culture, and they don't 695 00:33:44,320 --> 00:33:46,360 Speaker 6: want to subsidize what they think of as all these 696 00:33:46,440 --> 00:33:49,800 Speaker 6: lazy Spaniards, Like they hate that they that they are 697 00:33:49,920 --> 00:33:54,120 Speaker 6: the kind of economic engine of Spain and that they 698 00:33:54,240 --> 00:33:55,920 Speaker 6: you know, the same way that New York hates that 699 00:33:55,960 --> 00:33:57,320 Speaker 6: they have to subsidize. 700 00:33:56,880 --> 00:33:57,760 Speaker 3: Ohio or whatever. 701 00:33:58,400 --> 00:34:00,920 Speaker 6: And so what you can do is say, all right, fine, 702 00:34:01,360 --> 00:34:03,960 Speaker 6: you don't have to pay anything to Spain. You can 703 00:34:04,000 --> 00:34:07,920 Speaker 6: have your independence, but whatever the current tax revenue structure is, 704 00:34:07,960 --> 00:34:09,960 Speaker 6: you got to pay that to the EU. Then the 705 00:34:09,960 --> 00:34:12,520 Speaker 6: EU is going to kick it back to Spain and 706 00:34:12,600 --> 00:34:14,600 Speaker 6: then you have your independence, get your own country, your 707 00:34:14,600 --> 00:34:18,319 Speaker 6: own flag, your own language, all that stuff, and I 708 00:34:18,320 --> 00:34:21,719 Speaker 6: think that they would reject it, yes, and that which 709 00:34:21,719 --> 00:34:24,879 Speaker 6: shows they don't really want it, like they if if 710 00:34:24,920 --> 00:34:27,760 Speaker 6: you're not willing to pay a little bit higher taxes 711 00:34:28,200 --> 00:34:31,000 Speaker 6: to have independence, then you don't actually want it, and 712 00:34:31,080 --> 00:34:34,480 Speaker 6: you're just play acting like pretending that you want it. 713 00:34:35,040 --> 00:34:38,600 Speaker 6: And I am certain the cat and Penance Party doesn't 714 00:34:38,600 --> 00:34:39,319 Speaker 6: want it, because then what. 715 00:34:39,280 --> 00:34:41,520 Speaker 5: Are they like? 716 00:34:41,800 --> 00:34:44,839 Speaker 6: They're nobody's at that point, because they're actually a pretty 717 00:34:44,840 --> 00:34:49,960 Speaker 6: conservative bests. They're a pretty conservative party, but the Catalans 718 00:34:50,000 --> 00:34:53,520 Speaker 6: themselves are pretty progressive, and so the only reason that 719 00:34:53,560 --> 00:34:57,080 Speaker 6: they win votes in Catalan is because they support independence 720 00:34:57,160 --> 00:35:00,520 Speaker 6: alliance right and so as soon as they have, they're 721 00:35:00,520 --> 00:35:03,280 Speaker 6: no longer going to support this like right wing Catholic 722 00:35:03,480 --> 00:35:04,040 Speaker 6: party anymore. 723 00:35:04,080 --> 00:35:05,320 Speaker 3: They're going to support it progressive. 724 00:35:05,960 --> 00:35:09,200 Speaker 4: I love to think sometimes that Sacer and Crystal are like, 725 00:35:09,480 --> 00:35:11,080 Speaker 4: let's check in on Counterpoints. 726 00:35:11,239 --> 00:35:11,960 Speaker 5: They click on a. 727 00:35:11,880 --> 00:35:16,520 Speaker 4: Segment about Spanish soccer, they tune into Ryan solving the 728 00:35:16,520 --> 00:35:17,240 Speaker 4: problem of Catalan. 729 00:35:17,760 --> 00:35:20,560 Speaker 6: Nothing more American than like driving into Spain for a 730 00:35:20,600 --> 00:35:21,480 Speaker 6: couple of days. 731 00:35:21,800 --> 00:35:24,120 Speaker 3: Having some time away with the solutions. 732 00:35:23,760 --> 00:35:25,719 Speaker 6: Solving the Catalan independence crisis. 733 00:35:26,400 --> 00:35:29,080 Speaker 4: Well, stay tuned because if Ryan does indeed turn out 734 00:35:29,120 --> 00:35:32,200 Speaker 4: to have solved this problem, we'll we'll surely bring. 735 00:35:32,120 --> 00:35:34,000 Speaker 6: Up but they can't because these are cynical people who 736 00:35:34,200 --> 00:35:35,120 Speaker 6: don't actually want to. 737 00:35:35,040 --> 00:35:35,760 Speaker 3: Solve the problem. 738 00:35:36,360 --> 00:35:40,200 Speaker 4: So well, either way, regardless, we'll keep you updated on 739 00:35:40,239 --> 00:35:43,440 Speaker 4: the situation if as Ryan's negotiations proceed. 740 00:35:45,719 --> 00:35:48,200 Speaker 1: So as the writer's strike in particular, but also the 741 00:35:48,239 --> 00:35:50,960 Speaker 1: actors strike, by the way drags on, some of the 742 00:35:51,040 --> 00:35:55,200 Speaker 1: late night hosts have gotten together to launch their own podcast, 743 00:35:55,280 --> 00:35:57,120 Speaker 1: and it is for the worthy cause. Is supposed to 744 00:35:57,160 --> 00:36:00,000 Speaker 1: go to the strike fund for their writers. It's called 745 00:36:00,040 --> 00:36:04,280 Speaker 1: Strike Force five and it's Jimmy Fallon, John Oliver, Jimmy Kimmel, 746 00:36:04,480 --> 00:36:06,200 Speaker 1: Stephen Colbert, and Seth Myers. 747 00:36:06,400 --> 00:36:08,359 Speaker 5: Let's take a look at their little teaser here one 748 00:36:08,360 --> 00:36:08,719 Speaker 5: more time. 749 00:36:08,800 --> 00:36:13,120 Speaker 3: Jimmy, Yeah, Hi, I'm Jimmy Fallon, I'm Stephen Colbert, I'm 750 00:36:13,200 --> 00:36:15,160 Speaker 3: Jimmy Kimmel. I thought when you said Jimmy, you meant 751 00:36:15,200 --> 00:36:17,080 Speaker 3: me Jimmy, But you meant Jimmy, jim. 752 00:36:16,920 --> 00:36:18,040 Speaker 6: I always mean you. 753 00:36:18,440 --> 00:36:21,480 Speaker 3: But when you always be Seth Meyers, who do you mean? 754 00:36:22,200 --> 00:36:24,960 Speaker 3: I mean John Oliver. It's the five of us together 755 00:36:25,360 --> 00:36:29,640 Speaker 3: for maybe an hour a day. Strike Force five is 756 00:36:29,680 --> 00:36:31,959 Speaker 3: the name of our podcast. Subscribe to it. 757 00:36:31,920 --> 00:36:36,160 Speaker 2: Now, Spotify or wherever else you get your podcasts. 758 00:36:36,719 --> 00:36:39,040 Speaker 3: But Spotify, you focks. Oh my god. 759 00:36:39,120 --> 00:36:42,800 Speaker 1: So I cannot really recommend the content which I did watch. 760 00:36:43,280 --> 00:36:46,880 Speaker 1: Listen to the first episode, half of the first episode yesterday. 761 00:36:47,480 --> 00:36:49,360 Speaker 1: It's not that great. It's a little cringey. But I 762 00:36:49,400 --> 00:36:51,240 Speaker 1: do appreciate the solidarity with the writers. 763 00:36:51,280 --> 00:36:56,319 Speaker 3: Okay, sure, that's great. With this is great? Is we 764 00:36:56,440 --> 00:36:57,560 Speaker 3: need Dan the strike now? 765 00:36:58,200 --> 00:37:03,360 Speaker 2: We need this podcast as soon as humanly possible. I 766 00:37:03,400 --> 00:37:07,280 Speaker 2: am personally begging Bob Iger and all the other studio 767 00:37:07,320 --> 00:37:10,279 Speaker 2: executives just give them whatever they want. Put these people 768 00:37:10,360 --> 00:37:14,120 Speaker 2: back on network television so they can remain irrelevant or 769 00:37:14,160 --> 00:37:16,080 Speaker 2: whatever on the spaces that they fill there. 770 00:37:16,360 --> 00:37:18,920 Speaker 3: Let the people get paid. That all need to get paid. 771 00:37:19,480 --> 00:37:22,560 Speaker 2: Let's just end s abomination as soon as humanly possible. 772 00:37:22,960 --> 00:37:24,640 Speaker 2: You were get to get something, though, Crystal, when we 773 00:37:24,640 --> 00:37:28,200 Speaker 2: were talking beforehand, which is the lack of you know, 774 00:37:28,239 --> 00:37:31,920 Speaker 2: it's shocking actually to think about the medium of late 775 00:37:32,040 --> 00:37:34,799 Speaker 2: night TV as the original comedy venue, especially in an 776 00:37:34,840 --> 00:37:37,800 Speaker 2: age of YouTube where it's like it's just not funny, 777 00:37:38,160 --> 00:37:40,040 Speaker 2: like and a lot of these guys on themselves. And 778 00:37:40,120 --> 00:37:41,960 Speaker 2: I don't know what it is, because clearly they had 779 00:37:41,960 --> 00:37:44,160 Speaker 2: to have some level of talent to get where they were. 780 00:37:44,480 --> 00:37:47,080 Speaker 2: I wonder if it's because the writers are actually doing 781 00:37:47,120 --> 00:37:49,960 Speaker 2: all their jokes. I wonder if it's just that they're old, 782 00:37:50,320 --> 00:37:52,440 Speaker 2: like out of touch. I wonder if it's just that 783 00:37:52,520 --> 00:37:55,360 Speaker 2: the authentic comedy on YouTube is just so much better 784 00:37:55,400 --> 00:37:58,080 Speaker 2: than anything you can find in a network environment. 785 00:37:58,280 --> 00:38:01,000 Speaker 3: But it is just so shocking to me to like see. 786 00:38:00,760 --> 00:38:03,680 Speaker 2: This exist in the age of I mean, there's so 787 00:38:03,800 --> 00:38:06,239 Speaker 2: many great comedians who are out there right now, are 788 00:38:06,280 --> 00:38:09,040 Speaker 2: putting and dropping specials out fifteen thirty minute or whatever 789 00:38:09,280 --> 00:38:12,080 Speaker 2: sets which will have you double over in laughter that 790 00:38:12,080 --> 00:38:14,480 Speaker 2: you can watch for free. And then to see these 791 00:38:14,480 --> 00:38:16,719 Speaker 2: guys are probably better paid than every single one of 792 00:38:16,760 --> 00:38:18,879 Speaker 2: them even knows whatever they're strike for. And it's great 793 00:38:19,000 --> 00:38:21,520 Speaker 2: once again, any conversation they're getting to strikers, I think 794 00:38:21,520 --> 00:38:23,960 Speaker 2: that's awesome. But the fact that it even exists in 795 00:38:24,160 --> 00:38:26,960 Speaker 2: the first place is just really odd. I find it weird. 796 00:38:27,160 --> 00:38:30,560 Speaker 1: The thing that is interesting to me is, you know, 797 00:38:30,680 --> 00:38:32,520 Speaker 1: I think a lot of comedy was kind of broken 798 00:38:32,600 --> 00:38:34,840 Speaker 1: by the Trump era. You know, a lot of the 799 00:38:34,960 --> 00:38:38,240 Speaker 1: like the liberal resistance comedy which becomes kind of tired 800 00:38:38,320 --> 00:38:41,120 Speaker 1: and whatever like it. It doesn't land with me, right, 801 00:38:41,239 --> 00:38:44,879 Speaker 1: just in terms of being funny. I mean, Stephen. 802 00:38:44,560 --> 00:38:47,799 Speaker 5: Colbert on The Colbert Reports to be so good. 803 00:38:47,800 --> 00:38:53,280 Speaker 1: It was genuinely hilarious, groundbreaking, unique, his you know, roasting 804 00:38:53,360 --> 00:38:54,120 Speaker 1: of George W. 805 00:38:54,120 --> 00:38:56,640 Speaker 5: Bush's legendary, all of that stuff. 806 00:38:57,040 --> 00:38:59,960 Speaker 1: But also I'm thinking about the fact that all five 807 00:39:00,120 --> 00:39:02,879 Speaker 1: of these they're sort of they're made for that made 808 00:39:02,920 --> 00:39:06,640 Speaker 1: for TV late night era, and now they're trying to 809 00:39:06,680 --> 00:39:10,000 Speaker 1: do a medium that they're just not really geared for 810 00:39:10,680 --> 00:39:12,400 Speaker 1: and in the product it shows. 811 00:39:12,440 --> 00:39:13,640 Speaker 5: And then I mean it's also. 812 00:39:13,480 --> 00:39:15,439 Speaker 1: Just these are all people who are used to being 813 00:39:15,480 --> 00:39:17,640 Speaker 1: the guy and you put them together and it just 814 00:39:18,719 --> 00:39:21,719 Speaker 1: doesn't totally Mesh doesn't totally jealous the first show. We'll 815 00:39:21,719 --> 00:39:23,640 Speaker 1: give them some time, maybe it comes together, et cetera. 816 00:39:24,120 --> 00:39:27,839 Speaker 1: But it's very clear, and they, to their credit, make 817 00:39:27,880 --> 00:39:31,279 Speaker 1: this joke in the first episode. It's clear that those 818 00:39:31,320 --> 00:39:35,000 Speaker 1: writers are important. It's clear that they need the writers. 819 00:39:35,040 --> 00:39:37,880 Speaker 1: They need them back because it's not the same without 820 00:39:38,040 --> 00:39:40,799 Speaker 1: the producing and the scripting and the things that they 821 00:39:41,040 --> 00:39:42,239 Speaker 1: need to have their shows be. 822 00:39:42,400 --> 00:39:42,920 Speaker 3: Where they are. 823 00:39:43,120 --> 00:39:45,239 Speaker 2: Yeah, So, look, like I said this, is just the 824 00:39:45,320 --> 00:39:47,160 Speaker 2: clear sign. Yet we need to end the strike, give 825 00:39:47,200 --> 00:39:50,080 Speaker 2: the writers whatever they want, return them from whence they came, 826 00:39:50,200 --> 00:39:53,560 Speaker 2: and end this. And this assumes as possible, although unfortunately 827 00:39:53,560 --> 00:39:54,880 Speaker 2: it doesn't acually look like any of that is going 828 00:39:54,960 --> 00:39:56,399 Speaker 2: to happen, and this is probably gonna go yeah. 829 00:39:56,400 --> 00:39:59,040 Speaker 1: I mean, there's no no sign that you know, that 830 00:39:59,040 --> 00:40:02,520 Speaker 1: it's coming to any sort of amicable cloths here. The 831 00:40:02,560 --> 00:40:06,960 Speaker 1: studios have made good on their promises to let writers 832 00:40:07,000 --> 00:40:09,879 Speaker 1: go homeless. I mean, I actually am seeing reports now 833 00:40:09,920 --> 00:40:13,120 Speaker 1: that what they said they were willing to do, which 834 00:40:13,200 --> 00:40:16,359 Speaker 1: was you know, coming out and telling journalists that, hey, 835 00:40:16,400 --> 00:40:18,760 Speaker 1: our plan is to let this drag on until people 836 00:40:18,800 --> 00:40:22,480 Speaker 1: start losing their homes and start becoming homeless, and then 837 00:40:22,560 --> 00:40:24,879 Speaker 1: we'll try to you know, get a bad deal out 838 00:40:24,920 --> 00:40:26,799 Speaker 1: of them instead of coming at this, you know, with 839 00:40:26,840 --> 00:40:28,480 Speaker 1: a place where they're at a place to strength that 840 00:40:28,480 --> 00:40:30,680 Speaker 1: that's happening now. People are losing their homes, they're getting 841 00:40:30,719 --> 00:40:33,360 Speaker 1: kicked out of their apartments, et cetera as this drags on. 842 00:40:34,280 --> 00:40:37,880 Speaker 1: So it's incredibly disgraceful. The future of that industry, the 843 00:40:37,880 --> 00:40:40,160 Speaker 1: future of Hollywood is you know, really at stake, the 844 00:40:40,200 --> 00:40:44,120 Speaker 1: future of AI and the use of chatbots to write 845 00:40:44,120 --> 00:40:46,880 Speaker 1: initial drafts of script and basically stript writers of their 846 00:40:46,920 --> 00:40:49,160 Speaker 1: livelihood like that is all at stakes, So let's not 847 00:40:49,200 --> 00:40:51,880 Speaker 1: lose sight of that these fights are incredibly real, not 848 00:40:51,920 --> 00:40:54,520 Speaker 1: just for Hollywood and for our favorite shows, whether these 849 00:40:54,520 --> 00:40:57,359 Speaker 1: are your favorite shows, not just for Hollywood in our 850 00:40:57,360 --> 00:41:00,360 Speaker 1: favorite shows, but really for a lot of workers. 851 00:41:00,040 --> 00:41:00,800 Speaker 5: Across the country. 852 00:41:00,920 --> 00:41:03,120 Speaker 2: If they take the last of us for away from me, 853 00:41:03,320 --> 00:41:04,279 Speaker 2: I'm gonna riot. 854 00:41:04,880 --> 00:41:07,680 Speaker 3: I'm absolutely gonna ride it. Okay, guys, we'll see you later. 855 00:41:21,600 --> 00:41:21,920 Speaker 4: Mhm.