1 00:00:01,160 --> 00:00:03,280 Speaker 1: Hello, and welcome back to another episode of the Mark 2 00:00:03,320 --> 00:00:07,000 Speaker 1: Mos Show. We're always talking about the decentralized revolution. We're 3 00:00:07,000 --> 00:00:10,200 Speaker 1: talking about deglobalization, We're talking about the shift from a 4 00:00:10,320 --> 00:00:12,880 Speaker 1: unipolar world to a multipolar world. You see it happening, 5 00:00:13,160 --> 00:00:15,560 Speaker 1: but do you know what it means and do you 6 00:00:15,600 --> 00:00:17,239 Speaker 1: know what to do? I want to make sure you 7 00:00:17,280 --> 00:00:20,040 Speaker 1: stay one step ahead so you can maintain your wealth 8 00:00:20,680 --> 00:00:23,680 Speaker 1: and most importantly, your freedom as all this goes down. Now, 9 00:00:23,720 --> 00:00:27,040 Speaker 1: I want to run through some busy, busy, busy week, 10 00:00:27,120 --> 00:00:29,720 Speaker 1: some late breaking news. I want to cover the latest 11 00:00:29,760 --> 00:00:32,720 Speaker 1: bitcoin news, and there has been a lot happening globally. 12 00:00:32,960 --> 00:00:35,280 Speaker 1: I want to talk about this new Pentagon study talking 13 00:00:35,280 --> 00:00:38,199 Speaker 1: about this massive national security risk. I want to talk 14 00:00:38,200 --> 00:00:42,120 Speaker 1: about the problem that California is having trying to transition 15 00:00:42,200 --> 00:00:44,000 Speaker 1: EVS and what the rest of the world's looking at. 16 00:00:44,000 --> 00:00:45,720 Speaker 1: We're going to look at the data that came out 17 00:00:45,760 --> 00:00:49,040 Speaker 1: this week on inflation, CPI, things like that. Oh man, 18 00:00:49,080 --> 00:00:50,479 Speaker 1: we have a lot to cover. You don't want to 19 00:00:50,479 --> 00:00:52,120 Speaker 1: miss this. I want to try and talk through it 20 00:00:52,200 --> 00:00:54,040 Speaker 1: fast and we'll see how far we can get through. 21 00:00:54,040 --> 00:00:56,680 Speaker 1: But you know, like I said, the world is breaking apart, 22 00:00:56,720 --> 00:01:00,880 Speaker 1: and what I love about this is that I'm just 23 00:01:00,920 --> 00:01:05,160 Speaker 1: a fan for decentralization. I'm a fan for competition. I 24 00:01:05,240 --> 00:01:09,720 Speaker 1: believe that competition always provides us with better products, better service, 25 00:01:09,760 --> 00:01:15,039 Speaker 1: and better prices. It creates innovation, it creates progress. That's 26 00:01:15,080 --> 00:01:18,240 Speaker 1: what competition does. If you just have a monopoly and 27 00:01:18,280 --> 00:01:21,160 Speaker 1: you don't need to compete, then you don't need to 28 00:01:21,200 --> 00:01:24,280 Speaker 1: provide good product, service, or prices, you don't need to reinvent, 29 00:01:24,360 --> 00:01:25,880 Speaker 1: you don't have to do any of that. And so 30 00:01:26,360 --> 00:01:28,520 Speaker 1: as the world sort of breaks apart, we have these 31 00:01:28,520 --> 00:01:32,080 Speaker 1: different regions, we can see which ones work better. Nations 32 00:01:32,120 --> 00:01:34,720 Speaker 1: could start to compete for us. They could start to say, hey, 33 00:01:34,760 --> 00:01:37,200 Speaker 1: come here, we have no taxes. That sounds pretty good. 34 00:01:37,560 --> 00:01:39,920 Speaker 1: Hey come here, we don't make you inject things into 35 00:01:39,959 --> 00:01:41,720 Speaker 1: your body, or we give you more freedom, or whatever 36 00:01:41,720 --> 00:01:43,720 Speaker 1: it may be. And we can see how that plays 37 00:01:43,760 --> 00:01:46,280 Speaker 1: out next to an authoritarian state. And we're starting to 38 00:01:46,280 --> 00:01:49,960 Speaker 1: see this play out when it comes to the economics 39 00:01:50,000 --> 00:01:52,560 Speaker 1: of things, partly because the monetary system is breaking down 40 00:01:52,560 --> 00:01:54,760 Speaker 1: it the same way. And we saw this week that 41 00:01:54,840 --> 00:02:00,400 Speaker 1: there are now four different nations, countries, sovereigns that are 42 00:02:00,480 --> 00:02:04,600 Speaker 1: now starting to mine bitcoin, and they're doing this for 43 00:02:04,720 --> 00:02:09,480 Speaker 1: strategic reasons. Specifically, they're doing it because of the ability 44 00:02:09,520 --> 00:02:13,160 Speaker 1: of bitcoin mining to help develop new sources of energy 45 00:02:13,360 --> 00:02:17,960 Speaker 1: and to offset their losses or their costs, and most importantly, 46 00:02:18,040 --> 00:02:21,640 Speaker 1: to stabilize their energy grids. You hear a lot about, 47 00:02:21,680 --> 00:02:23,840 Speaker 1: you know, the California grid going down. I mean, like 48 00:02:23,960 --> 00:02:26,520 Speaker 1: every summer in California, we have blackouts going down. They 49 00:02:26,560 --> 00:02:28,919 Speaker 1: can't keep the lights on. It's been happening in Texas, 50 00:02:29,680 --> 00:02:32,919 Speaker 1: and this is a big deal. It's all over the world. 51 00:02:33,040 --> 00:02:36,200 Speaker 1: In South Africa, they have blackouts for I think twelve 52 00:02:36,280 --> 00:02:38,600 Speaker 1: hours a day and they're working on moving those up 53 00:02:38,639 --> 00:02:41,600 Speaker 1: to like fifteen hours a day. So it's a big deal. 54 00:02:41,760 --> 00:02:44,720 Speaker 1: Like making sure that you have electricity when you need it, 55 00:02:44,760 --> 00:02:46,560 Speaker 1: like you know, when your light switch on it works 56 00:02:46,760 --> 00:02:49,600 Speaker 1: is important. It's also important if you're in a hospital. 57 00:02:50,040 --> 00:02:52,120 Speaker 1: It's also important if you have a premature baby. It 58 00:02:52,120 --> 00:02:54,120 Speaker 1: needs to be an incubator. You kind of need the 59 00:02:54,160 --> 00:02:57,120 Speaker 1: electricity to stay on. And so we're seeing how bitcoin 60 00:02:57,200 --> 00:03:01,080 Speaker 1: is eight is enabling these nations to do just that. 61 00:03:01,160 --> 00:03:04,520 Speaker 1: We're seeing it happen in Tech Texas for example. So 62 00:03:05,800 --> 00:03:07,600 Speaker 1: just in the last two weeks, there was this massive 63 00:03:07,600 --> 00:03:10,359 Speaker 1: heat wave in Texas, surprise, surprise, and a lot of 64 00:03:10,360 --> 00:03:13,520 Speaker 1: people are gonna go without power, and so bitcoin miners 65 00:03:13,520 --> 00:03:16,280 Speaker 1: were able to shut power off and divert that power 66 00:03:16,320 --> 00:03:19,400 Speaker 1: back to the grid and who saved the day. And 67 00:03:19,440 --> 00:03:21,960 Speaker 1: so we're starting to see the same thing. And part 68 00:03:21,960 --> 00:03:23,400 Speaker 1: of the reason why is, like I said, they can 69 00:03:23,760 --> 00:03:28,080 Speaker 1: further national interest in energy but also technological innovation and 70 00:03:28,160 --> 00:03:32,000 Speaker 1: financial inclusion. So what do I mean by that? So, well, 71 00:03:32,000 --> 00:03:33,880 Speaker 1: first let's talk about these countries that are doing it. 72 00:03:33,919 --> 00:03:36,680 Speaker 1: So the four countries are their Middle East. Well, first 73 00:03:36,720 --> 00:03:38,800 Speaker 1: of all is El Salvador. I've covered that one extensively. 74 00:03:39,000 --> 00:03:42,720 Speaker 1: El Salvador was the first nation to make bitcoin legal tender, 75 00:03:42,760 --> 00:03:44,680 Speaker 1: meaning that it could be used as money anywhere in 76 00:03:44,720 --> 00:03:48,160 Speaker 1: the country. You can go to walmart or McDonald's or 77 00:03:48,240 --> 00:03:51,560 Speaker 1: the gas station and use bitcoin there. So El Salvador. 78 00:03:52,080 --> 00:03:54,600 Speaker 1: Then we have Oman, we have the UAE and United 79 00:03:55,000 --> 00:03:57,400 Speaker 1: Arab Emirates, and we have Bhuton. Now these are Middle 80 00:03:57,400 --> 00:04:02,320 Speaker 1: Eastern countries that all have energy. They have oil, right, 81 00:04:02,480 --> 00:04:05,520 Speaker 1: but they want to pioneer these new forms of energy. 82 00:04:05,600 --> 00:04:10,280 Speaker 1: They maybe want to use go to geothermal, they might 83 00:04:10,320 --> 00:04:12,800 Speaker 1: want to go to nuclear and things like that. Now 84 00:04:12,840 --> 00:04:14,920 Speaker 1: what we can see is that a public private partnership 85 00:04:14,920 --> 00:04:17,560 Speaker 1: in El Salvador has committed two hundred and fifty million 86 00:04:18,000 --> 00:04:23,040 Speaker 1: of one billion dollars to mining operations using renewables. Bhutan 87 00:04:23,160 --> 00:04:27,120 Speaker 1: is more open about its operations after starting. You know, 88 00:04:27,200 --> 00:04:30,240 Speaker 1: they're going forth. We see in the UAE and Oman 89 00:04:30,279 --> 00:04:33,080 Speaker 1: they're turning to bitcoin to stabilize our electricity grids and 90 00:04:33,160 --> 00:04:36,200 Speaker 1: to monetize excess energy. And then also what they want 91 00:04:36,240 --> 00:04:37,839 Speaker 1: to do is they want to lay a foundation for 92 00:04:37,960 --> 00:04:43,159 Speaker 1: digitizing their economies. In the UAE, for example, the amount 93 00:04:43,200 --> 00:04:46,080 Speaker 1: of energy that's wasted is estimated to be worth over 94 00:04:46,240 --> 00:04:49,440 Speaker 1: five hundred million dollars. So what does that mean? I 95 00:04:49,560 --> 00:04:51,120 Speaker 1: want to break that down a second. So you think 96 00:04:51,120 --> 00:04:55,400 Speaker 1: about you hear from the New York Times or Washington Post, 97 00:04:55,440 --> 00:04:58,640 Speaker 1: you know, some cim mouthpiece. You hear about bitcoin is 98 00:04:58,680 --> 00:05:01,960 Speaker 1: a waste of energy. You hear that, what does that mean? 99 00:05:02,120 --> 00:05:04,159 Speaker 1: Who's to say what a waste is? Right? So like 100 00:05:05,160 --> 00:05:06,920 Speaker 1: you may like to sit on the beach and stare 101 00:05:06,920 --> 00:05:09,560 Speaker 1: out the ocean, and I say you're wasting your time, 102 00:05:09,560 --> 00:05:11,640 Speaker 1: But for you that's like meditation, and so that allows 103 00:05:11,680 --> 00:05:14,000 Speaker 1: you to achieve a higher level of performance, for example, 104 00:05:14,960 --> 00:05:16,680 Speaker 1: So who's to say what a waste is. Well, one 105 00:05:16,680 --> 00:05:17,960 Speaker 1: thing that we would say it would be a waste 106 00:05:18,000 --> 00:05:20,039 Speaker 1: would be is if we make something and then like 107 00:05:20,080 --> 00:05:21,440 Speaker 1: we make a bunch of food, I cook a bunch 108 00:05:21,480 --> 00:05:22,919 Speaker 1: of steak and then no one needs to have to 109 00:05:22,920 --> 00:05:24,320 Speaker 1: throw it away. That's sort of a waste. I could 110 00:05:24,440 --> 00:05:27,680 Speaker 1: just saved the food for later. And wasted energy. Bitcoin 111 00:05:27,720 --> 00:05:30,440 Speaker 1: isn't wasted energy. Bitcoin is using energy just like everybody else. 112 00:05:30,680 --> 00:05:34,400 Speaker 1: Wasted energy, though, comes from power plants that make too 113 00:05:34,600 --> 00:05:38,240 Speaker 1: much energy and nobody buys it, nobody uses it. So 114 00:05:38,560 --> 00:05:42,080 Speaker 1: in the UAE, they have wasted energy, energy being created 115 00:05:42,080 --> 00:05:45,040 Speaker 1: that's not being used. That's worth five hundred million dollars 116 00:05:45,279 --> 00:05:47,560 Speaker 1: if it could be used, but who's going to use it. 117 00:05:47,880 --> 00:05:50,440 Speaker 1: They don't have enough people to plug in and use it. 118 00:05:50,520 --> 00:05:53,360 Speaker 1: So what they can do is they can plug bitcoin 119 00:05:53,440 --> 00:05:56,159 Speaker 1: mining into that right now and they can start to 120 00:05:56,200 --> 00:06:00,000 Speaker 1: monetize that wasted energy. Then, if you know, the population grows, 121 00:06:00,320 --> 00:06:02,840 Speaker 1: demands on energy grow even more than they have output 122 00:06:02,880 --> 00:06:05,760 Speaker 1: for they can just start to shut the bitcoin mining off. 123 00:06:06,120 --> 00:06:10,279 Speaker 1: And this is why it positions countries, the positions nations, 124 00:06:10,279 --> 00:06:16,320 Speaker 1: the position states to monetize this excess energy. So, for example, 125 00:06:16,360 --> 00:06:20,520 Speaker 1: they want to pioneer a new nuclear reactor. Well, maybe 126 00:06:20,560 --> 00:06:23,640 Speaker 1: they don't have enough people to buy that energy from 127 00:06:23,640 --> 00:06:26,479 Speaker 1: that nuclear reactor right now. They might only have a 128 00:06:26,520 --> 00:06:28,680 Speaker 1: little bit of demand for that, So they can't really 129 00:06:28,720 --> 00:06:31,280 Speaker 1: afford to build that reactor because for the little bit 130 00:06:31,320 --> 00:06:34,360 Speaker 1: of people that will buy today, it's not economically feasible. 131 00:06:34,520 --> 00:06:36,240 Speaker 1: But what they could do is they could say, well, 132 00:06:36,279 --> 00:06:39,320 Speaker 1: let's build the nuclear actor today and twenty percent of 133 00:06:39,320 --> 00:06:42,360 Speaker 1: that energy will go to people to use, to businesses whatever. 134 00:06:42,600 --> 00:06:45,040 Speaker 1: But eighty percent, I mean, we can't run with those 135 00:06:45,120 --> 00:06:46,360 Speaker 1: numbers of a loss. So what we'll do is take 136 00:06:46,360 --> 00:06:48,479 Speaker 1: the eight percent and put into bitcoin mining. But as 137 00:06:48,520 --> 00:06:50,840 Speaker 1: the infrastructure grows, as more people move in the area, 138 00:06:50,920 --> 00:06:53,080 Speaker 1: more businesses and things like that start to move in 139 00:06:53,400 --> 00:06:55,839 Speaker 1: and use that energy, then bitcoin can be shut off. 140 00:06:56,200 --> 00:06:58,680 Speaker 1: And it's now allowed that new form of energy to 141 00:06:58,760 --> 00:07:04,640 Speaker 1: be economically installed into a nation or into an area 142 00:07:04,680 --> 00:07:07,479 Speaker 1: sort of like that. And so this is a real thing, 143 00:07:07,640 --> 00:07:11,040 Speaker 1: and it's happening really really really fast. And like I said, 144 00:07:11,120 --> 00:07:13,200 Speaker 1: now there's four nations. Now, I know you might be saying, 145 00:07:13,200 --> 00:07:16,360 Speaker 1: but Mark, these are like small nations. Who cares about these? Well, 146 00:07:16,400 --> 00:07:19,640 Speaker 1: the reason why we care is when we're looking at 147 00:07:19,800 --> 00:07:21,800 Speaker 1: well anything for that matter. But really, you know, when 148 00:07:21,800 --> 00:07:25,000 Speaker 1: I'm looking at economic data, what I'm looking for is 149 00:07:25,040 --> 00:07:28,040 Speaker 1: a couple of things. I'm looking for. One I'm looking 150 00:07:28,080 --> 00:07:32,560 Speaker 1: for like directionality, like what direction are we going? And 151 00:07:33,120 --> 00:07:36,440 Speaker 1: going from zero nations to one nation to now four 152 00:07:36,560 --> 00:07:40,080 Speaker 1: nations shows me a pretty clear direction. Now we also 153 00:07:40,120 --> 00:07:42,120 Speaker 1: have states doing it, like I said, Texas, et cetera. 154 00:07:42,400 --> 00:07:44,559 Speaker 1: So that shows me a clear direction. What we also 155 00:07:44,640 --> 00:07:46,360 Speaker 1: want to see is I like to show charts. Typically 156 00:07:46,360 --> 00:07:48,800 Speaker 1: if you watch my YouTube channel by the way, if 157 00:07:48,840 --> 00:07:51,280 Speaker 1: you're not, you should just search Mark Moss on YouTube. 158 00:07:51,600 --> 00:07:53,520 Speaker 1: I do a lot of you know, obviously it's video, 159 00:07:53,600 --> 00:07:55,000 Speaker 1: So I do a lot of graphs and charts and 160 00:07:55,000 --> 00:07:56,520 Speaker 1: things like that. And I like to show you the 161 00:07:56,520 --> 00:07:59,120 Speaker 1: graphs and charts because I want you to see not 162 00:07:59,200 --> 00:08:00,800 Speaker 1: just the direction, but I want you to see the 163 00:08:01,360 --> 00:08:04,000 Speaker 1: speed of the move and the size of the move. 164 00:08:04,080 --> 00:08:07,960 Speaker 1: And so while these might be small countries, the direction 165 00:08:08,160 --> 00:08:10,960 Speaker 1: is there, and the speed in which they're moving into 166 00:08:11,000 --> 00:08:14,760 Speaker 1: it is happening pretty quickly. And these nations are also 167 00:08:15,040 --> 00:08:20,360 Speaker 1: major energy producers the UAE. They produce energy, so to 168 00:08:20,480 --> 00:08:23,600 Speaker 1: see them going to this is a very strong signal 169 00:08:23,720 --> 00:08:26,160 Speaker 1: for the rest of the world. Now. They also talk 170 00:08:26,200 --> 00:08:31,520 Speaker 1: about wanting to go into this digital rail system, so potentially, 171 00:08:31,640 --> 00:08:35,160 Speaker 1: you know, using bitcoin as a currency, potentially using the 172 00:08:35,320 --> 00:08:38,160 Speaker 1: Bitcoin network like the Lightning network, to use it as 173 00:08:38,160 --> 00:08:40,200 Speaker 1: a rail to move their own currencies over We don't 174 00:08:40,200 --> 00:08:42,800 Speaker 1: know what the future holds for them, but in my opinion, 175 00:08:42,880 --> 00:08:46,760 Speaker 1: it's very very very interesting and back to the world 176 00:08:46,800 --> 00:08:49,839 Speaker 1: breaking apart globalization. We'll get to see in real time 177 00:08:50,960 --> 00:08:54,720 Speaker 1: how El Salvador, how the UAE, how these are the countries, 178 00:08:55,080 --> 00:08:58,600 Speaker 1: how their power grids hold up, how they're able to 179 00:08:58,640 --> 00:09:01,720 Speaker 1: deploy and develop new forms of energy. And if it 180 00:09:01,840 --> 00:09:04,800 Speaker 1: works really good there, then my hope would be that 181 00:09:05,640 --> 00:09:07,600 Speaker 1: nations like the United States would come to their senses 182 00:09:07,600 --> 00:09:10,040 Speaker 1: and go, oh, it's working really well over there. We 183 00:09:10,080 --> 00:09:12,760 Speaker 1: should probably do more of that over here. If you're 184 00:09:12,760 --> 00:09:14,240 Speaker 1: just tune in, you're listening to the Mark Mass Show, 185 00:09:14,280 --> 00:09:18,160 Speaker 1: we're talking about the decentralized revolution, deglobalization that's happening. We're 186 00:09:18,200 --> 00:09:20,280 Speaker 1: running through some of the latest breaking news headlines that 187 00:09:20,360 --> 00:09:22,360 Speaker 1: happened this week, so you can get a play by 188 00:09:22,400 --> 00:09:24,600 Speaker 1: play and understand what is going on and more importantly, 189 00:09:24,679 --> 00:09:27,560 Speaker 1: how to position yourself for the future. I got a 190 00:09:27,600 --> 00:09:29,520 Speaker 1: whole lot more news headlines to cover when I come back. 191 00:09:29,520 --> 00:09:31,559 Speaker 1: It was a busy week, so don't go away. I'll 192 00:09:31,600 --> 00:09:33,880 Speaker 1: be right back. All right, Welcome back. If you're just 193 00:09:33,920 --> 00:09:35,640 Speaker 1: tune in, you're listening to the Mark Mos Show. We're 194 00:09:35,679 --> 00:09:38,120 Speaker 1: running through some of the latest breaking news headlines this week, 195 00:09:38,160 --> 00:09:40,440 Speaker 1: so you've got a good idea of what's going on. 196 00:09:40,559 --> 00:09:44,400 Speaker 1: And you know, I talk about this decentralized revolution and 197 00:09:44,400 --> 00:09:49,040 Speaker 1: this deglobalization that's happening, and it's almost like we just 198 00:09:49,120 --> 00:09:53,600 Speaker 1: see this just break down in everything. Planes and trains 199 00:09:53,640 --> 00:09:56,640 Speaker 1: don't run on time anymore. Things just don't work like 200 00:09:56,679 --> 00:10:00,880 Speaker 1: they used to. Cities are being overrun with and homelessness. 201 00:10:00,920 --> 00:10:04,520 Speaker 1: I mean, it's just amazing. And one thing that we 202 00:10:04,600 --> 00:10:08,480 Speaker 1: are just witnessing this trend towards is something that's very 203 00:10:08,520 --> 00:10:11,800 Speaker 1: alarming to me, and it apparently is very alarming to 204 00:10:11,880 --> 00:10:16,120 Speaker 1: the Pentagon, because the Pentagon funded a study warning us 205 00:10:16,280 --> 00:10:20,280 Speaker 1: of a massive problem with national security, a big national 206 00:10:20,360 --> 00:10:24,120 Speaker 1: security threat, and that's something that you typically take pretty seriously, 207 00:10:24,920 --> 00:10:26,840 Speaker 1: especially if you're with the Pentagon, if you're in the military, 208 00:10:26,920 --> 00:10:30,600 Speaker 1: like you take threats to national security pretty seriously, and 209 00:10:30,640 --> 00:10:33,880 Speaker 1: in this case, what they warned us. What this study 210 00:10:33,920 --> 00:10:36,880 Speaker 1: found out is that the big warning, the big risk 211 00:10:37,000 --> 00:10:43,680 Speaker 1: national security they found is dementia among US officials. Now, 212 00:10:43,720 --> 00:10:45,760 Speaker 1: I've talked about this. If you follow me on social media, 213 00:10:46,559 --> 00:10:47,960 Speaker 1: you should be posted about it. If you don't follow 214 00:10:48,000 --> 00:10:51,280 Speaker 1: me on social media, hit me up. You can find 215 00:10:51,320 --> 00:10:54,920 Speaker 1: me on Instagram, on Twitter, at one Mark Moss. My 216 00:10:55,000 --> 00:10:58,200 Speaker 1: website at onemarkmoss dot com has everything linked there. But 217 00:10:58,240 --> 00:11:00,160 Speaker 1: I've posted some of this stuff before, and you know, 218 00:11:00,160 --> 00:11:04,080 Speaker 1: we've seen Diane Feinstein and Nancy Billis. Obviously you know 219 00:11:04,120 --> 00:11:09,480 Speaker 1: about Biden, but recently we've seen Senator Mitch McConnell is 220 00:11:09,480 --> 00:11:12,320 Speaker 1: a Republican from Kentucky. And look, I'm not trying to 221 00:11:12,320 --> 00:11:14,120 Speaker 1: claim any label here. I'm going to go equally as 222 00:11:14,160 --> 00:11:15,720 Speaker 1: hard on Biden a Democrat as I will on Mitch 223 00:11:15,800 --> 00:11:17,640 Speaker 1: McConnell as a Republican. I don't care. I'm going to 224 00:11:17,720 --> 00:11:20,720 Speaker 1: call it out as I see it, and we've seen twice. Now. 225 00:11:20,960 --> 00:11:22,920 Speaker 1: I called it out the first time, and now just 226 00:11:22,920 --> 00:11:26,480 Speaker 1: happened a second time where Senator Mitch McConnell. Basically it 227 00:11:26,559 --> 00:11:30,840 Speaker 1: was like giving a talk and like just froze, just 228 00:11:31,280 --> 00:11:35,520 Speaker 1: stopped talking and had to be come and grabbed and 229 00:11:35,600 --> 00:11:38,400 Speaker 1: like escorted off. Now, the first time that happened, it 230 00:11:38,520 --> 00:11:40,720 Speaker 1: was very alarming to me and most people that have 231 00:11:40,800 --> 00:11:42,880 Speaker 1: any sort of a brain and can think about this thing. 232 00:11:43,679 --> 00:11:46,720 Speaker 1: Lots of comments I said, I saw, we're like, oh, 233 00:11:46,880 --> 00:11:49,840 Speaker 1: you know, he pooped his pants, or like this is normal. 234 00:11:49,880 --> 00:11:51,520 Speaker 1: He just forgot what he said was going to say. 235 00:11:51,520 --> 00:11:55,560 Speaker 1: I mean, they're trying to like rationalize that, but it's 236 00:11:55,600 --> 00:12:00,360 Speaker 1: not how like healthy young people work like this doesn't happen. Now, 237 00:12:00,400 --> 00:12:02,520 Speaker 1: it might happen to some people. I just would argue 238 00:12:02,520 --> 00:12:04,920 Speaker 1: that they're not healthy, Like you don't just freeze up 239 00:12:05,000 --> 00:12:07,720 Speaker 1: like that. But the bigger problem, as is shown in 240 00:12:07,760 --> 00:12:12,040 Speaker 1: the study, is that as the national security workforce is aging, 241 00:12:12,280 --> 00:12:15,640 Speaker 1: they're seeing dementia started to impact these US officials and 242 00:12:15,679 --> 00:12:18,560 Speaker 1: as I said, it posed a threat to national security. 243 00:12:18,800 --> 00:12:22,760 Speaker 1: And so Mitch McConnell had this second episode, and he 244 00:12:22,920 --> 00:12:27,199 Speaker 1: enjoys the most privileged access to classified information of anyone 245 00:12:27,240 --> 00:12:31,000 Speaker 1: in Congress. So he is the highest level to the 246 00:12:31,240 --> 00:12:34,440 Speaker 1: most classified information of anyone in Congress. As a member 247 00:12:34,480 --> 00:12:36,520 Speaker 1: of the so called what they call the Gang of 248 00:12:36,600 --> 00:12:43,440 Speaker 1: Eight Congressional leadership. Ninety year old Senator Dianne Feinstein she's 249 00:12:43,480 --> 00:12:47,480 Speaker 1: a Democrat, she's ninety years old. You can see her 250 00:12:47,559 --> 00:12:49,520 Speaker 1: decline all over. I mean, if you don't see this, 251 00:12:49,600 --> 00:12:51,400 Speaker 1: you're completely blind or you just listen on the radio. 252 00:12:51,600 --> 00:12:54,240 Speaker 1: But like, literally, she had disappeared for a long time. 253 00:12:54,360 --> 00:12:57,720 Speaker 1: Everyone thought she was dead because she had no appearances. 254 00:12:57,760 --> 00:13:01,319 Speaker 1: Then they show they wheel her like half living corpse 255 00:13:01,360 --> 00:13:03,720 Speaker 1: out into a wheelchair and no offense. Like, I mean, 256 00:13:03,760 --> 00:13:07,480 Speaker 1: if you're a family member, I'm sorry, but like it's 257 00:13:07,520 --> 00:13:09,640 Speaker 1: the truth. Like she's old, she's ninety years old. They 258 00:13:09,679 --> 00:13:12,920 Speaker 1: wheel her out, and then you see her in the 259 00:13:12,920 --> 00:13:14,920 Speaker 1: halls of Congress and she doesn't even know what she's 260 00:13:14,960 --> 00:13:19,520 Speaker 1: talking about, and they're telling her how to vote. She 261 00:13:19,640 --> 00:13:22,080 Speaker 1: was like rambling on just just say, I just say, 262 00:13:22,080 --> 00:13:26,720 Speaker 1: I just actually like I like, she's she's signed over 263 00:13:27,320 --> 00:13:30,920 Speaker 1: all legal responsibility of her estate to I believe her daughter. 264 00:13:31,120 --> 00:13:34,800 Speaker 1: Like she doesn't even have control over her own estate, 265 00:13:34,880 --> 00:13:38,839 Speaker 1: her own asset's her own person. But yet she's one 266 00:13:38,880 --> 00:13:42,160 Speaker 1: of the highest ranking members of the government. Like how 267 00:13:42,200 --> 00:13:44,920 Speaker 1: does that make sense? How is she able to vote 268 00:13:44,960 --> 00:13:47,960 Speaker 1: when she's experiencing memory last well, she doesn't even know 269 00:13:48,040 --> 00:13:51,160 Speaker 1: where she's at, when she can't even recall that she 270 00:13:51,360 --> 00:13:54,000 Speaker 1: was just gone for a month, and she was part 271 00:13:54,040 --> 00:13:56,240 Speaker 1: of the Gang of Eight for years, and she remains 272 00:13:56,679 --> 00:14:01,480 Speaker 1: a member of the Senate Intelligence Community. Why is she 273 00:14:01,520 --> 00:14:07,800 Speaker 1: on the intelligence community? Nancy Pelosi, she's a she's running again. 274 00:14:08,040 --> 00:14:09,960 Speaker 1: She's stunned observers when she announced that she wants to 275 00:14:10,000 --> 00:14:14,080 Speaker 1: run again. She's eighty three years old. And again, look, 276 00:14:14,080 --> 00:14:15,679 Speaker 1: I don't have a problem with old people. I love 277 00:14:15,679 --> 00:14:19,960 Speaker 1: old people. I love my grandparents. But at some point, 278 00:14:20,040 --> 00:14:22,840 Speaker 1: it seems like we have laws in the United States 279 00:14:22,880 --> 00:14:27,800 Speaker 1: against elder abuse. And when you're rolling people in wheelchairs 280 00:14:27,840 --> 00:14:30,960 Speaker 1: who don't even know where they're at, and you're forcing 281 00:14:31,000 --> 00:14:32,720 Speaker 1: them to vote for things they don't even know what 282 00:14:32,720 --> 00:14:35,880 Speaker 1: they're vote voting for, at what point does that become 283 00:14:37,400 --> 00:14:39,800 Speaker 1: I don't know. I'm not an attorney, but elder abuse 284 00:14:40,520 --> 00:14:44,960 Speaker 1: certainly manipulation of old people, like if you got someone 285 00:14:45,000 --> 00:14:47,440 Speaker 1: to like, and if you've got somebody in that stage 286 00:14:47,480 --> 00:14:51,560 Speaker 1: of life to you know, give you the power of 287 00:14:51,560 --> 00:14:54,120 Speaker 1: attorney over certain assets or to transfer you a bunch 288 00:14:54,160 --> 00:14:57,120 Speaker 1: of money, or in some sort of contractoral agreement with 289 00:14:57,160 --> 00:15:01,040 Speaker 1: you that would probably be deemed illegal or at least 290 00:15:01,600 --> 00:15:05,400 Speaker 1: non binding. Right. They don't They clearly don't know where 291 00:15:05,400 --> 00:15:07,520 Speaker 1: they're at and you took advantage of them. But yet 292 00:15:07,560 --> 00:15:10,040 Speaker 1: that's exactly what we're doing here. And the thing that 293 00:15:10,120 --> 00:15:13,720 Speaker 1: I don't understand is, Look, I've cited Republicans and Democrats. 294 00:15:13,800 --> 00:15:15,160 Speaker 1: I don't care what side of the AL you're on. 295 00:15:15,360 --> 00:15:18,640 Speaker 1: I don't understand how people, regardless of what side of 296 00:15:18,640 --> 00:15:21,160 Speaker 1: the AL you're on, I don't see how anybody can 297 00:15:21,200 --> 00:15:24,120 Speaker 1: be okay with this? How can anybody be okay with 298 00:15:24,200 --> 00:15:27,680 Speaker 1: seeing Biden go to this nine to one to one 299 00:15:27,760 --> 00:15:32,280 Speaker 1: memorial and just start rambling about just random topics, talking 300 00:15:32,320 --> 00:15:35,760 Speaker 1: in circles on stage, saying, oh, my handlers told me 301 00:15:35,760 --> 00:15:37,440 Speaker 1: not to do this, or like I don't he says, 302 00:15:37,440 --> 00:15:40,320 Speaker 1: I don't know what I'm doing, Like how can somebody 303 00:15:40,360 --> 00:15:42,760 Speaker 1: be okay with that? And look, I get it, like 304 00:15:42,800 --> 00:15:46,160 Speaker 1: you know, you're for this radical left progressive like whatever, Okay, 305 00:15:46,240 --> 00:15:48,560 Speaker 1: that's cool. Like couldn't you just get like a Gavin 306 00:15:48,600 --> 00:15:51,280 Speaker 1: Newsom or something like that? Like do you have to 307 00:15:51,360 --> 00:15:54,800 Speaker 1: get people who can't talk, who don't know where they're at? 308 00:15:55,040 --> 00:15:58,160 Speaker 1: And according to the Pentagon, it's a threat to national 309 00:15:58,200 --> 00:16:01,680 Speaker 1: security now most whole those security clearances, which is by 310 00:16:01,680 --> 00:16:05,000 Speaker 1: the way, a very ballooning class of officials have access 311 00:16:05,040 --> 00:16:09,720 Speaker 1: to secret government information. They're subject to rigorous and invasive 312 00:16:10,040 --> 00:16:14,040 Speaker 1: vetting procedures, So how can they hold that. I guess 313 00:16:14,040 --> 00:16:16,560 Speaker 1: at some point maybe it should be rescinded from them. 314 00:16:17,040 --> 00:16:18,640 Speaker 1: Who knows what they're going to say. They're in with 315 00:16:18,680 --> 00:16:21,480 Speaker 1: their nurse and they're just rambling, like you know, security 316 00:16:21,520 --> 00:16:25,040 Speaker 1: clearance stuff. Now, in nineteen eighty one, only four percent 317 00:16:25,040 --> 00:16:26,880 Speaker 1: of Congress was over the age of seventy, but by 318 00:16:26,880 --> 00:16:30,160 Speaker 1: twenty twenty two that number is almost twenty five percent, 319 00:16:30,240 --> 00:16:33,200 Speaker 1: So from four to twenty five percent. And now keep 320 00:16:33,200 --> 00:16:37,080 Speaker 1: in mind, the average age of a fortune five hundred 321 00:16:37,160 --> 00:16:43,480 Speaker 1: CEO is fifty seven. Average ages of Congress are in 322 00:16:43,560 --> 00:16:48,360 Speaker 1: their seventies. Feinstein's ninety. No one's running a fortune five 323 00:16:48,480 --> 00:16:52,040 Speaker 1: hundred company at that age. Well maybe Warren Buffett. I'm 324 00:16:52,040 --> 00:16:53,720 Speaker 1: not sure if he's still the active CEO or not. 325 00:16:53,800 --> 00:16:56,200 Speaker 1: But the average the average age of a fortune five 326 00:16:56,240 --> 00:17:00,440 Speaker 1: hundred CEO is fifty seven years old. And I think 327 00:17:00,440 --> 00:17:03,360 Speaker 1: it's time that we have that. I think everybody agrees 328 00:17:03,440 --> 00:17:05,160 Speaker 1: to that, and we see this kind of coming back 329 00:17:05,200 --> 00:17:09,800 Speaker 1: onto the ballot. This is like another talking point term limits. Obviously, 330 00:17:09,840 --> 00:17:12,399 Speaker 1: we have that insider trading is one that they just 331 00:17:12,520 --> 00:17:15,120 Speaker 1: don't want to have happen. And now this age limit. 332 00:17:15,119 --> 00:17:17,160 Speaker 1: But I would just I would love to hear hit 333 00:17:17,200 --> 00:17:19,959 Speaker 1: me up on social media. Let me know. Am I wrong? 334 00:17:20,160 --> 00:17:23,359 Speaker 1: Do you have a different viewpoint? This is an opinion, 335 00:17:23,400 --> 00:17:24,960 Speaker 1: so I can't be wrong. It's my opinion. I'd like 336 00:17:25,040 --> 00:17:27,119 Speaker 1: to hear your opinion if it's opposite of what I have. 337 00:17:27,760 --> 00:17:31,320 Speaker 1: Why would you, regardless of what all you're on, think 338 00:17:31,359 --> 00:17:34,480 Speaker 1: it's okay to vote for a Diane Feinstein or a 339 00:17:34,560 --> 00:17:37,679 Speaker 1: Joe Biden. If anybody has a counter opinion to that, 340 00:17:37,760 --> 00:17:39,679 Speaker 1: I'd love to hear it because I'd love to hear 341 00:17:39,880 --> 00:17:41,240 Speaker 1: opinions from both sides that out. Hit me up on 342 00:17:41,280 --> 00:17:44,479 Speaker 1: social media at one Mark Moss or shoot me an email. 343 00:17:44,560 --> 00:17:45,880 Speaker 1: And by the way, while you're at it, if you're 344 00:17:45,880 --> 00:17:48,480 Speaker 1: listening on the podcast, would you just please do me 345 00:17:48,520 --> 00:17:51,200 Speaker 1: a favor. I have one one request that I have 346 00:17:51,720 --> 00:17:53,840 Speaker 1: and that would be could you just like and review 347 00:17:53,880 --> 00:17:56,120 Speaker 1: the podcast? Give it a give it a couple stars. 348 00:17:56,160 --> 00:17:59,000 Speaker 1: If you like it, leave a review. That would greatly 349 00:17:59,040 --> 00:18:01,480 Speaker 1: help me out and push this up in the algorithms. 350 00:18:01,800 --> 00:18:03,520 Speaker 1: If you're just tuning, you're listening to the Mark Maas Show, 351 00:18:03,520 --> 00:18:05,520 Speaker 1: We're running through some of the latest breaking news headlines 352 00:18:05,560 --> 00:18:07,399 Speaker 1: this week so you can understand what's going on in 353 00:18:07,440 --> 00:18:09,119 Speaker 1: the world, where it's going, and what you should be 354 00:18:09,160 --> 00:18:11,320 Speaker 1: doing to stay a step ahead for your wealth and 355 00:18:11,359 --> 00:18:12,840 Speaker 1: your freedom. I'll be back with more in a minute. 356 00:18:12,880 --> 00:18:15,000 Speaker 1: Don't go away, all right, Welcome back. If you're just 357 00:18:15,000 --> 00:18:16,760 Speaker 1: tuning and you're listening to The Mark Maas Show, we're 358 00:18:16,800 --> 00:18:18,919 Speaker 1: running through some of the latest breaking news headlines this 359 00:18:19,000 --> 00:18:24,560 Speaker 1: week as we document the de globalization, the decentralization that's 360 00:18:24,600 --> 00:18:26,800 Speaker 1: happening in the world, as we look at through the 361 00:18:26,840 --> 00:18:29,880 Speaker 1: lens of politics, finance, and technology, so we can understand 362 00:18:29,920 --> 00:18:32,840 Speaker 1: in better context of what is going on. As always, 363 00:18:32,880 --> 00:18:34,600 Speaker 1: if you missed any of this, don't worry. You can 364 00:18:34,680 --> 00:18:36,840 Speaker 1: catch me on the podcast. Just search the Mark mas 365 00:18:36,840 --> 00:18:39,560 Speaker 1: Show and your favorite podcast player, or go to YouTube 366 00:18:39,600 --> 00:18:43,040 Speaker 1: and search Market Disruptors and you can watch and listen 367 00:18:43,119 --> 00:18:46,040 Speaker 1: over there as well. Now you know, part of this 368 00:18:46,119 --> 00:18:48,199 Speaker 1: trend that's sort of leading to this shift in the 369 00:18:48,200 --> 00:18:51,480 Speaker 1: world is sort of this shift in power. When I 370 00:18:51,520 --> 00:18:54,560 Speaker 1: say power, I mean more like energy, like electricity, but energy, 371 00:18:54,960 --> 00:18:58,280 Speaker 1: and all throughout history it was the nations that had 372 00:18:58,280 --> 00:19:01,080 Speaker 1: the most natural resources were the ones that were the 373 00:19:01,080 --> 00:19:04,760 Speaker 1: most wealthy. So if you had gold, if you had oil, right, 374 00:19:04,840 --> 00:19:08,120 Speaker 1: things like that. What's interesting is that, you know, we're 375 00:19:08,160 --> 00:19:10,679 Speaker 1: now moving to this world where the nations that have 376 00:19:10,840 --> 00:19:15,239 Speaker 1: the oil, the West, the United States, and Europe, no 377 00:19:15,320 --> 00:19:19,360 Speaker 1: longer want to use it anymore. You know. It's sort 378 00:19:19,359 --> 00:19:22,000 Speaker 1: of like the fish doesn't know it's in water sort 379 00:19:22,000 --> 00:19:25,280 Speaker 1: of thing where these people have no idea how the 380 00:19:25,320 --> 00:19:28,240 Speaker 1: world works and don't realize that without oil, the whole 381 00:19:28,240 --> 00:19:33,640 Speaker 1: world stops. We don't have cars, and we don't have 382 00:19:33,760 --> 00:19:36,320 Speaker 1: trucks and ships moving stuff around, which means we don't 383 00:19:36,359 --> 00:19:40,199 Speaker 1: have anything. But Mark, couldn't we just make batteries for 384 00:19:41,080 --> 00:19:44,480 Speaker 1: you know, tankers moving containers across the ocean. Well, probably 385 00:19:44,480 --> 00:19:48,320 Speaker 1: not in the next several decades, but couldn't we just 386 00:19:48,600 --> 00:19:51,080 Speaker 1: use ev vehicle? Like I mean, come on, like even 387 00:19:51,119 --> 00:19:53,919 Speaker 1: without oil, like you don't have petrochemicals, so like how 388 00:19:53,960 --> 00:19:55,439 Speaker 1: do you get tires and how do you get shoes? 389 00:19:55,480 --> 00:19:58,280 Speaker 1: And how do you get the cleaners and detergents and pesticides. 390 00:19:58,840 --> 00:20:01,119 Speaker 1: But I don't want to talk about that. What we 391 00:20:01,240 --> 00:20:02,840 Speaker 1: want to talk about is this new story that came 392 00:20:02,880 --> 00:20:05,880 Speaker 1: out of a new study that came out that's really 393 00:20:05,920 --> 00:20:09,440 Speaker 1: starting to change the narrative on this push to renewable 394 00:20:09,520 --> 00:20:13,000 Speaker 1: energy or like Alex Epstein likes to call it, unreliable energy, 395 00:20:13,240 --> 00:20:16,840 Speaker 1: and specifically in regards to electric vehicles. And so an 396 00:20:16,920 --> 00:20:21,360 Speaker 1: article came out this week Robert Charette, a longtime systems engineer, 397 00:20:21,560 --> 00:20:24,960 Speaker 1: a contributing editor to I EEE Spectrum, and he's the 398 00:20:25,000 --> 00:20:29,320 Speaker 1: author of the EV Transition explained and in this article 399 00:20:29,320 --> 00:20:33,399 Speaker 1: he said that the viability of a speedy switch of 400 00:20:33,440 --> 00:20:37,440 Speaker 1: the nation moving to electric vehicles is a difficult conversation. 401 00:20:37,520 --> 00:20:41,440 Speaker 1: He said, it's a nuanced, perhaps conversation, and he was 402 00:20:41,480 --> 00:20:44,639 Speaker 1: basically saying that, you know, with the amount of the 403 00:20:44,680 --> 00:20:48,119 Speaker 1: push from governments to go to EV vehicles, with the 404 00:20:48,200 --> 00:20:53,200 Speaker 1: amount of volume of EV vehicles being sold today, the 405 00:20:53,320 --> 00:20:56,359 Speaker 1: problem is how do we get them all charged? And 406 00:20:56,400 --> 00:20:59,160 Speaker 1: there's a couple of problems with that, like, obviously, one, 407 00:20:59,560 --> 00:21:03,160 Speaker 1: how do we enough charging stations out there? One? How 408 00:21:03,160 --> 00:21:05,200 Speaker 1: do we get this to be fast enough so people 409 00:21:05,200 --> 00:21:08,160 Speaker 1: can actually do it? That's number two? But what has 410 00:21:08,240 --> 00:21:10,639 Speaker 1: to happen order in order for that to happen? And 411 00:21:10,680 --> 00:21:13,399 Speaker 1: this is where most people get lost. So you have 412 00:21:13,440 --> 00:21:16,080 Speaker 1: to learn how to think past first order second order, 413 00:21:16,119 --> 00:21:19,600 Speaker 1: third order, fifth order, fifth order, six order, and on 414 00:21:19,600 --> 00:21:23,560 Speaker 1: and on. Thinking so for example, well, all we need 415 00:21:23,600 --> 00:21:27,199 Speaker 1: is just more even charging stations. Okay, great, So what 416 00:21:27,320 --> 00:21:31,719 Speaker 1: has to happen to have that, Well, we need more 417 00:21:32,160 --> 00:21:36,520 Speaker 1: components for that, we need more regulators, we need more switches, 418 00:21:36,600 --> 00:21:38,479 Speaker 1: we need more things like that. Okay, what else has 419 00:21:38,480 --> 00:21:42,880 Speaker 1: that happened? Well, we need we need a better electrical grid. 420 00:21:42,960 --> 00:21:46,960 Speaker 1: And that's the problem that we're seeing in California. In Paloazzo, California, 421 00:21:47,000 --> 00:21:50,120 Speaker 1: for example, California is always the microcosm for the United States. 422 00:21:50,160 --> 00:21:51,919 Speaker 1: They say, what happens in California then goes to the 423 00:21:51,920 --> 00:21:54,479 Speaker 1: rest of the nation. And so we can see in 424 00:21:54,640 --> 00:21:59,560 Speaker 1: California being the first nation or country, sorry, if California 425 00:21:59,640 --> 00:22:01,280 Speaker 1: was a name, it would be I think the fourth 426 00:22:01,359 --> 00:22:03,639 Speaker 1: or fifth largest nation in the world by GDP, but 427 00:22:03,680 --> 00:22:06,480 Speaker 1: it's the state of the United States. But they have 428 00:22:06,600 --> 00:22:09,919 Speaker 1: gone in one of the fastest, most aggressive shifts away 429 00:22:10,000 --> 00:22:12,680 Speaker 1: from what they call fossil fuel included nuclear, to move 430 00:22:12,720 --> 00:22:14,960 Speaker 1: to this renewable energy, which is why we continue to 431 00:22:15,000 --> 00:22:17,080 Speaker 1: have blackouts all the time. It's also why we have 432 00:22:17,119 --> 00:22:19,919 Speaker 1: the highest energy price in the nation in the summer 433 00:22:19,920 --> 00:22:23,240 Speaker 1: at peak power. We're paying over forty cents per kilowatire, 434 00:22:23,320 --> 00:22:25,199 Speaker 1: which I know, I know is shocking to you if 435 00:22:25,240 --> 00:22:28,560 Speaker 1: you live anywhere else in the country. But on top 436 00:22:28,640 --> 00:22:30,840 Speaker 1: of that, we also have one of the fastest adoption 437 00:22:30,960 --> 00:22:34,040 Speaker 1: rates of electric vehicles in Palo Alto, which is you know, 438 00:22:34,119 --> 00:22:37,240 Speaker 1: Silicon Valley. We have the highest adoption rate of ev 439 00:22:37,400 --> 00:22:39,840 Speaker 1: vehicles in the country, one out of five households and 440 00:22:39,920 --> 00:22:43,520 Speaker 1: has one. It's about thirty percent of all new car cells. 441 00:22:44,359 --> 00:22:48,240 Speaker 1: The city incentivizes people to do that to get this 442 00:22:48,359 --> 00:22:53,199 Speaker 1: eighty percent reduction in greenhouse gases by twenty thirty. The 443 00:22:53,320 --> 00:22:57,040 Speaker 1: problem is that in order to get there, the city's 444 00:22:57,040 --> 00:22:59,399 Speaker 1: got a lot of headwinds. They have a lot of 445 00:22:59,440 --> 00:23:02,280 Speaker 1: problems that they have to get over. The city's power 446 00:23:02,359 --> 00:23:06,440 Speaker 1: grid shows massive signs of strain and it's starting to 447 00:23:06,480 --> 00:23:09,040 Speaker 1: fall apart. Now they're trying to upgrade it, but the 448 00:23:09,160 --> 00:23:13,000 Speaker 1: upgrades could take seven years and could cost hundreds of 449 00:23:13,040 --> 00:23:16,840 Speaker 1: millions of dollars. So in California, during the summer of 450 00:23:16,840 --> 00:23:19,359 Speaker 1: the last two years, we've been having rolling blackouts because 451 00:23:19,359 --> 00:23:23,800 Speaker 1: we just don't have enough power. Period. Now we have 452 00:23:24,040 --> 00:23:27,240 Speaker 1: more load because of the electric vehicles, and now for 453 00:23:27,280 --> 00:23:29,280 Speaker 1: the last two years, we've seen the state of California 454 00:23:29,400 --> 00:23:33,840 Speaker 1: actually say hey, we don't have enough electricity, don't plug 455 00:23:33,880 --> 00:23:39,600 Speaker 1: your ev in? So what do you do? Well, you 456 00:23:39,680 --> 00:23:41,960 Speaker 1: might have seen some of these pictures of like Ala 457 00:23:42,000 --> 00:23:44,280 Speaker 1: Toyota Prius pull in a little trailer with the generator. 458 00:23:44,560 --> 00:23:46,720 Speaker 1: So now you get the generator running gas and it 459 00:23:46,840 --> 00:23:48,560 Speaker 1: charges your car. I mean is that we're supposed to do? 460 00:23:49,480 --> 00:23:53,160 Speaker 1: So how can this work when we have peak loading times, 461 00:23:53,560 --> 00:23:55,920 Speaker 1: everybody comes home at night, everyone needs to plug it in, 462 00:23:56,040 --> 00:23:58,680 Speaker 1: and we don't have enough power for it. It's a big problem. 463 00:23:59,280 --> 00:24:02,680 Speaker 1: So you know, could this be fixed? Sure? Certainly, could 464 00:24:02,680 --> 00:24:04,359 Speaker 1: we get more power of the grid. Certainly we could 465 00:24:04,440 --> 00:24:07,639 Speaker 1: build some more nuclear reactors that only takes twenty five years, 466 00:24:08,280 --> 00:24:13,520 Speaker 1: No big deal, right, So can are these things insurmountable? Like? 467 00:24:13,600 --> 00:24:16,919 Speaker 1: Obviously not, But we need to put things in line 468 00:24:17,080 --> 00:24:19,800 Speaker 1: into into reality. When you listen to these politicians, we're 469 00:24:19,840 --> 00:24:22,640 Speaker 1: on the campaign trail already, you're going to hear them 470 00:24:22,720 --> 00:24:25,560 Speaker 1: spouting things that are really nice, like hey, we should 471 00:24:25,560 --> 00:24:28,880 Speaker 1: all have a unicorn in our backyard that poop skittles 472 00:24:28,880 --> 00:24:31,320 Speaker 1: for us. That'd be great. Everybody wants to I'm going 473 00:24:31,359 --> 00:24:33,199 Speaker 1: to give you one but like, how how are you 474 00:24:33,280 --> 00:24:35,919 Speaker 1: going to get that? Like, it's not realistic. And so 475 00:24:36,200 --> 00:24:37,840 Speaker 1: when you hear them say we're gonna get it. We're 476 00:24:37,880 --> 00:24:40,280 Speaker 1: gonna be one hundred percent off of fossil Bueples're gonna 477 00:24:40,280 --> 00:24:43,919 Speaker 1: be one hundred percent net zero, Like no, no, you're not. 478 00:24:44,040 --> 00:24:45,960 Speaker 1: Like it's it's just not possible if you have to 479 00:24:46,000 --> 00:24:49,280 Speaker 1: understand this. And it's not like I said, it's not insurmauntable. 480 00:24:49,320 --> 00:24:51,080 Speaker 1: It's not a problem that we can't get there, but 481 00:24:51,320 --> 00:24:54,280 Speaker 1: how how we get there? Now, a couple couple of 482 00:24:54,320 --> 00:24:57,560 Speaker 1: things that think about this. An EV vehicle electric vehicle 483 00:24:57,560 --> 00:25:01,600 Speaker 1: in a home is equivalent to twenty five refrigerators being 484 00:25:01,640 --> 00:25:04,680 Speaker 1: plugged into your house. Now, add to the fact that 485 00:25:04,720 --> 00:25:08,440 Speaker 1: in California they want everything all FALSI fuel has gone. 486 00:25:08,480 --> 00:25:11,880 Speaker 1: So for example, now I think it's a statewide thing. 487 00:25:12,119 --> 00:25:16,520 Speaker 1: Certainly in many counties. You can't build new construction with 488 00:25:16,960 --> 00:25:20,840 Speaker 1: natural gas anymore. You know, the natural you know, the 489 00:25:20,920 --> 00:25:23,480 Speaker 1: natural gas that comes out of the ground naturally, you 490 00:25:23,520 --> 00:25:27,880 Speaker 1: can't you can't run that anymore. You can use electricity now. 491 00:25:28,160 --> 00:25:36,119 Speaker 1: So now all of the appliances in the home, dryers, stoves, ovens, refrigerators, 492 00:25:36,119 --> 00:25:38,600 Speaker 1: all of these things that would run on natural gas 493 00:25:38,640 --> 00:25:40,359 Speaker 1: that we have naturally. As a matter of fact, the 494 00:25:40,400 --> 00:25:42,919 Speaker 1: United States has so much natural gas that it's so 495 00:25:43,119 --> 00:25:45,320 Speaker 1: cheap because we have so much of it that most 496 00:25:45,359 --> 00:25:48,360 Speaker 1: of the natural gas isn't even captured. They just let 497 00:25:48,400 --> 00:25:50,840 Speaker 1: it vent into the air or they burn it off 498 00:25:51,119 --> 00:25:52,960 Speaker 1: because it's so cheap because we have so much of it. 499 00:25:53,560 --> 00:25:57,119 Speaker 1: So we have this super cheap, super abundant source of 500 00:25:57,240 --> 00:26:01,200 Speaker 1: energy that's natural and we can't use that. And now 501 00:26:01,320 --> 00:26:03,199 Speaker 1: all of these appliances now have to go onto the 502 00:26:03,240 --> 00:26:06,720 Speaker 1: electrical grid that we don't even have enough electricity for 503 00:26:06,880 --> 00:26:10,159 Speaker 1: right now that's already having blackouts even in California. I'm 504 00:26:10,160 --> 00:26:12,200 Speaker 1: trying to add on to my house, and as I 505 00:26:12,280 --> 00:26:14,239 Speaker 1: met with architects, they said, well, we could add this 506 00:26:14,320 --> 00:26:16,440 Speaker 1: on to your house, but you can't run gas over there, 507 00:26:17,080 --> 00:26:19,879 Speaker 1: Like what like, how does that even make sense? So 508 00:26:20,400 --> 00:26:22,520 Speaker 1: not only do we want to push EV vehicles on, 509 00:26:22,560 --> 00:26:24,760 Speaker 1: we want to shut off our nuclear reactors. Our grids 510 00:26:24,800 --> 00:26:26,560 Speaker 1: can't handle it. We want to now have everyone run 511 00:26:26,600 --> 00:26:28,800 Speaker 1: EV vehicles. Its equivalent to twenty five refrigerators, and now 512 00:26:28,840 --> 00:26:32,800 Speaker 1: all the applians also have to go into the grid. Yeah, 513 00:26:33,160 --> 00:26:35,280 Speaker 1: I don't know. How that works. Snap your fingers, closed, 514 00:26:35,280 --> 00:26:36,879 Speaker 1: your eyes, Maybe a wake up in a fairytale. We 515 00:26:36,920 --> 00:26:40,600 Speaker 1: saw the Ford President tried to drive in EV F 516 00:26:40,640 --> 00:26:43,800 Speaker 1: one fifty across country. He was severely disappointed and noted 517 00:26:43,800 --> 00:26:46,639 Speaker 1: that the country is not ready for an EV system yet. 518 00:26:46,840 --> 00:26:50,960 Speaker 1: We saw the Energy Executive Secretary Jennifer Granholme's EV road 519 00:26:51,000 --> 00:26:55,320 Speaker 1: trip went bad and in articles that covered they said 520 00:26:55,560 --> 00:26:58,320 Speaker 1: they found out that Americans don't need it. I think 521 00:26:58,320 --> 00:27:00,720 Speaker 1: most Americans, as demonstrated by the second secondary troubles on 522 00:27:00,760 --> 00:27:02,840 Speaker 1: a roadchip, understand that there is not a choice that 523 00:27:02,880 --> 00:27:04,119 Speaker 1: they need to have the choice of the kind of 524 00:27:04,200 --> 00:27:07,640 Speaker 1: vehicles they want to buy for their lives. And unfortunately, 525 00:27:07,640 --> 00:27:09,159 Speaker 1: that's not the choice that the federal government wants to 526 00:27:09,160 --> 00:27:14,159 Speaker 1: provide for American families. So it's going to be a 527 00:27:14,160 --> 00:27:16,280 Speaker 1: tough switch. They're going to push it, but I don't 528 00:27:16,320 --> 00:27:17,720 Speaker 1: know how realistic it is. I'd love to hear from you. 529 00:27:17,840 --> 00:27:19,359 Speaker 1: Hit me up on social media, let me know what 530 00:27:19,440 --> 00:27:22,040 Speaker 1: you think. Oh and never mind all the car fires 531 00:27:22,040 --> 00:27:24,720 Speaker 1: that happened from them. Just in New York City alone 532 00:27:24,920 --> 00:27:27,919 Speaker 1: this year, there's been one hundred and eight car fires, 533 00:27:28,160 --> 00:27:32,800 Speaker 1: sixty six people injured, and thirteen people have died. It's amazing. Anyway, 534 00:27:33,320 --> 00:27:34,879 Speaker 1: you listen to the Mark Mos Show running through some 535 00:27:34,880 --> 00:27:36,600 Speaker 1: of the latest breaking news headlines this week. I got 536 00:27:36,640 --> 00:27:38,399 Speaker 1: more to cover. I'm gonna take a very quick break. 537 00:27:38,440 --> 00:27:40,880 Speaker 1: I'll be right back with more in a second. Don't 538 00:27:40,880 --> 00:27:42,840 Speaker 1: go away, We're back, all right, Welcome back. If you're 539 00:27:42,880 --> 00:27:44,800 Speaker 1: just tune in, you're listening to the Mark Mass Show 540 00:27:45,080 --> 00:27:47,560 Speaker 1: running you through the latest breaking news headlines of this 541 00:27:47,640 --> 00:27:49,960 Speaker 1: week so you can understand the play by play of 542 00:27:50,000 --> 00:27:54,240 Speaker 1: how the world is going through its deglobalization is decentralization, 543 00:27:54,720 --> 00:27:58,159 Speaker 1: which in my opinion, leads us to more prosperity, more freedom, 544 00:27:58,480 --> 00:28:03,840 Speaker 1: and more economic certainty. It's a good thing, but it's 545 00:28:03,880 --> 00:28:05,520 Speaker 1: a turbulent thing, and so we'll walk you through it 546 00:28:05,520 --> 00:28:08,160 Speaker 1: on the play by play. And speaking of economic certainty, 547 00:28:08,200 --> 00:28:11,280 Speaker 1: that we are living in a very uncertain time when 548 00:28:11,280 --> 00:28:13,800 Speaker 1: it comes to the economics. As a matter of fact, 549 00:28:14,280 --> 00:28:18,639 Speaker 1: this week saw the new CPI number release the consumer 550 00:28:18,760 --> 00:28:22,280 Speaker 1: price inflation. Now you hear about the central banks around 551 00:28:22,320 --> 00:28:25,320 Speaker 1: the world, the Federal Reserve trying to stick to this 552 00:28:25,560 --> 00:28:29,520 Speaker 1: two percent inflation target. They only want two percent inflation. 553 00:28:30,080 --> 00:28:34,000 Speaker 1: Now why two percent? Well, two percent an arbitrary number. 554 00:28:34,320 --> 00:28:37,399 Speaker 1: It was literally, well, if you trace back to the 555 00:28:37,440 --> 00:28:40,920 Speaker 1: origins where it came from was at a press conference. 556 00:28:41,000 --> 00:28:45,360 Speaker 1: The i think finance Minister of New Zealand was in 557 00:28:45,400 --> 00:28:48,120 Speaker 1: a live conference and they said, we want to get 558 00:28:48,160 --> 00:28:50,960 Speaker 1: inflation down to one or two percent. I'm sorry, he 559 00:28:51,000 --> 00:28:53,959 Speaker 1: said below between one and zero percent and they said, so, 560 00:28:54,000 --> 00:28:55,880 Speaker 1: then like, what's the highest it should be and he said, 561 00:28:56,000 --> 00:28:58,280 Speaker 1: I don't know, then call it two percent and it 562 00:28:58,320 --> 00:29:00,880 Speaker 1: was like an off the cuff for mark in the eighties. 563 00:29:01,280 --> 00:29:04,520 Speaker 1: The Federal Reserve adopted that number in the nineties, as 564 00:29:04,640 --> 00:29:10,560 Speaker 1: most other central banks have done. So numbers arbitrary. What 565 00:29:10,760 --> 00:29:15,440 Speaker 1: isn't arbitrary is their mandates. They're legally obligated. Their dual 566 00:29:15,480 --> 00:29:20,400 Speaker 1: mandates are one stable prices and two full employment, so 567 00:29:20,400 --> 00:29:24,960 Speaker 1: stable prices, so they've chosen to pick this two percent 568 00:29:25,040 --> 00:29:27,760 Speaker 1: number to try to be stable there. However, prices are 569 00:29:27,760 --> 00:29:31,680 Speaker 1: anything but stable now. The CPI number consumer price inflation 570 00:29:31,840 --> 00:29:34,160 Speaker 1: measures that it's one way to do It's a consumer 571 00:29:34,200 --> 00:29:37,360 Speaker 1: price index, and those numbers came out this week and 572 00:29:37,400 --> 00:29:41,240 Speaker 1: we saw that consumer price Index rose by zero point 573 00:29:41,240 --> 00:29:44,640 Speaker 1: six percent in August, which is its biggest monthly gain 574 00:29:44,880 --> 00:29:49,320 Speaker 1: of the year. The inflation gauge went up to three 575 00:29:49,400 --> 00:29:52,400 Speaker 1: point seven percent from a year ago, So year over year, 576 00:29:52,400 --> 00:29:55,280 Speaker 1: inflation is up again. Now, I do want to point 577 00:29:55,280 --> 00:29:58,080 Speaker 1: out I make this point all the time. When inflation 578 00:29:58,240 --> 00:30:01,560 Speaker 1: comes down, that doesn't mean prices come down. It means 579 00:30:01,600 --> 00:30:04,600 Speaker 1: that the prices are still going up, just at a 580 00:30:04,680 --> 00:30:08,280 Speaker 1: slower rate than before. We also saw the core CPI, 581 00:30:08,360 --> 00:30:11,959 Speaker 1: which is CPI through a presentdex minus the things that 582 00:30:12,000 --> 00:30:14,880 Speaker 1: you need in life such as food and energy. And no, 583 00:30:14,920 --> 00:30:17,560 Speaker 1: I'm not joking, that's serious. The core CPI increased by 584 00:30:17,680 --> 00:30:21,360 Speaker 1: zero point three percent and four point three percent year 585 00:30:21,400 --> 00:30:25,800 Speaker 1: over year. Now the Fed really focuses more on the 586 00:30:25,840 --> 00:30:28,480 Speaker 1: core inflation. They think that provides a better indication of 587 00:30:28,480 --> 00:30:31,640 Speaker 1: more inflations heading over the long term. So again, if 588 00:30:31,640 --> 00:30:33,440 Speaker 1: we just take out the things that you need to live, 589 00:30:33,560 --> 00:30:36,960 Speaker 1: like food and energy, that's a better viewpoint, which seems 590 00:30:37,040 --> 00:30:38,440 Speaker 1: kind of weird to me, but that's what they do. 591 00:30:39,040 --> 00:30:42,720 Speaker 1: But what we can see is that it's energy that's 592 00:30:42,800 --> 00:30:46,360 Speaker 1: really driven the prices. Right. So, after the Rush of 593 00:30:46,440 --> 00:30:49,400 Speaker 1: Ukraine war situation broke out, the Bid administrations started shutting 594 00:30:49,400 --> 00:30:52,880 Speaker 1: down oil. Oil price is spiked crazy from like I 595 00:30:52,920 --> 00:30:55,320 Speaker 1: don't know eighty ninety bucks to one hundred fifty bucks 596 00:30:55,320 --> 00:30:59,640 Speaker 1: a barrow. They've come back down and coming back down 597 00:30:59,680 --> 00:31:02,600 Speaker 1: to reac is what's brought that inflation number back down, 598 00:31:02,640 --> 00:31:07,200 Speaker 1: but now they're going back up. Energy prices have been, 599 00:31:07,720 --> 00:31:09,000 Speaker 1: you know, like I said, brought it down, but it's 600 00:31:09,040 --> 00:31:11,200 Speaker 1: also what's pushing back up. We can see he rows 601 00:31:11,240 --> 00:31:13,720 Speaker 1: five point six percent on the month, an increase that 602 00:31:13,760 --> 00:31:17,080 Speaker 1: included a ten point six percent surge in gasoline. I 603 00:31:17,080 --> 00:31:19,280 Speaker 1: don't know if you've seen it, but in California, gas 604 00:31:19,320 --> 00:31:22,400 Speaker 1: prices are back. They're in the five point fifty range 605 00:31:22,480 --> 00:31:25,000 Speaker 1: or even more depending on where you're at. So food 606 00:31:25,040 --> 00:31:27,080 Speaker 1: prices are going up, shelter prices going up, but it's 607 00:31:27,160 --> 00:31:31,280 Speaker 1: mostly in that energy sector, which pushes everything up because 608 00:31:31,320 --> 00:31:35,720 Speaker 1: as you know, energy drives everything. Now, the jump and 609 00:31:35,800 --> 00:31:39,320 Speaker 1: headline inflation also hit worker paychecks. Real average hour of 610 00:31:39,360 --> 00:31:43,480 Speaker 1: the earnings declined zero point five percent for the month. 611 00:31:44,040 --> 00:31:48,720 Speaker 1: Right when prices go up, your real hour of the 612 00:31:48,760 --> 00:31:52,120 Speaker 1: earnings go down. So even though you're still making whatever 613 00:31:52,160 --> 00:31:54,760 Speaker 1: you're twenty bucks an hour, it buys you less things, 614 00:31:55,040 --> 00:31:57,320 Speaker 1: and so your purchasing power went down. And this is 615 00:31:57,360 --> 00:32:01,400 Speaker 1: what people don't understand. Let's just make work. I mean, 616 00:32:01,520 --> 00:32:04,600 Speaker 1: let's just make everybody be able to live easier. So 617 00:32:04,680 --> 00:32:09,160 Speaker 1: let's just raise their pay Let's just pay them more money. 618 00:32:09,240 --> 00:32:11,720 Speaker 1: Let's pay them thirty dollars an hour fromm wage. But 619 00:32:11,760 --> 00:32:15,360 Speaker 1: when you do that, then that business then has to 620 00:32:15,400 --> 00:32:18,000 Speaker 1: charge more for their goods and services, which then pushes 621 00:32:18,040 --> 00:32:20,080 Speaker 1: the price of everybody else. So even though those workers 622 00:32:20,080 --> 00:32:23,360 Speaker 1: are making more money, potentially that more money will still 623 00:32:23,360 --> 00:32:25,800 Speaker 1: buy them less goods in service. So even though on 624 00:32:25,800 --> 00:32:28,000 Speaker 1: paper they went from whatever twenty to thirty bucks an hour, 625 00:32:28,000 --> 00:32:30,080 Speaker 1: who at the end of the day when they go 626 00:32:30,160 --> 00:32:34,000 Speaker 1: to the grocery store they take home less goods. But 627 00:32:34,040 --> 00:32:35,520 Speaker 1: the important thing that I want to dig into is 628 00:32:35,520 --> 00:32:37,440 Speaker 1: here is I've been pretty vocal about this for well 629 00:32:37,480 --> 00:32:39,120 Speaker 1: over a year, even when inflation was in the seven 630 00:32:39,160 --> 00:32:41,200 Speaker 1: eight percent range. I said that this would be some 631 00:32:41,240 --> 00:32:43,360 Speaker 1: of the lowest inflation that we'll see for the rest 632 00:32:43,360 --> 00:32:45,440 Speaker 1: of the year. I'm sorry, for the rest of the decade. 633 00:32:46,360 --> 00:32:47,960 Speaker 1: This would be some of the lowest inflation we see 634 00:32:47,960 --> 00:32:49,720 Speaker 1: for the rest of the decade. Now you might say, well, Mark, 635 00:32:49,760 --> 00:32:53,360 Speaker 1: you were obviously wrong, because inflation came down. Inflation comes 636 00:32:53,400 --> 00:32:56,000 Speaker 1: in waves, right, nothing goes up or down in a 637 00:32:56,000 --> 00:32:57,720 Speaker 1: straight line. It's never been an asset in the history 638 00:32:57,720 --> 00:32:59,840 Speaker 1: of the world that does that. Everything goes up and down, 639 00:33:00,040 --> 00:33:03,760 Speaker 1: ebbs and flows, and so inflation also comes in waves, 640 00:33:04,080 --> 00:33:07,720 Speaker 1: and this is round two of the post COVID price 641 00:33:07,800 --> 00:33:11,240 Speaker 1: inflation wave. It went up like crazy. They were able 642 00:33:11,320 --> 00:33:13,440 Speaker 1: to bring it back down, and now it's going to 643 00:33:13,480 --> 00:33:15,920 Speaker 1: go back up again. Now another index that we look 644 00:33:15,960 --> 00:33:18,960 Speaker 1: at is called the PPI or the Producer Price Index, 645 00:33:19,240 --> 00:33:22,520 Speaker 1: and that just came out as well, and it's bad, okay. 646 00:33:22,560 --> 00:33:25,960 Speaker 1: PPI is up zero point seven percent in August, higher 647 00:33:26,000 --> 00:33:29,680 Speaker 1: than the zero point four percent estimate, almost double the estimate. 648 00:33:29,880 --> 00:33:33,120 Speaker 1: That's not good. It's the biggest monthly gained since June 649 00:33:33,120 --> 00:33:36,320 Speaker 1: of twenty twenty two. All right, that's a big deal. 650 00:33:36,800 --> 00:33:40,719 Speaker 1: Core PPI row zero point two percent, which was in 651 00:33:40,720 --> 00:33:43,520 Speaker 1: line with expectations, so that one's okay. We saw retail 652 00:33:43,560 --> 00:33:46,560 Speaker 1: sales climbed higher than expected zero point six percent in August, 653 00:33:47,240 --> 00:33:51,600 Speaker 1: well above the zero point one percent estimate. Now CPI 654 00:33:52,200 --> 00:33:56,760 Speaker 1: follows PPI, okay, because the producers have to make it 655 00:33:56,880 --> 00:34:00,880 Speaker 1: first before the consumers get it right, so PPI is 656 00:34:00,920 --> 00:34:04,440 Speaker 1: more of a leading indicator. CPI is a lagging indicator 657 00:34:04,680 --> 00:34:09,000 Speaker 1: and in case you wondered, both of them are horrible, right, 658 00:34:09,880 --> 00:34:17,920 Speaker 1: They are both completely completely, you know, totally untied, untethered 659 00:34:17,920 --> 00:34:21,240 Speaker 1: from reality. All right, let's look back into some history 660 00:34:21,280 --> 00:34:22,480 Speaker 1: to kind of see some of this. So we can 661 00:34:22,520 --> 00:34:24,600 Speaker 1: see if we go back to nineteen seventy four to 662 00:34:24,680 --> 00:34:27,640 Speaker 1: nineteen eighty, the last time that we had stagflation in 663 00:34:27,680 --> 00:34:31,400 Speaker 1: two waves. Now, the second wave, of course, led to 664 00:34:31,680 --> 00:34:36,160 Speaker 1: massive amounts of inflation, and we also saw gold spiking. 665 00:34:36,239 --> 00:34:39,239 Speaker 1: Gold went to eight hundred and seventy two dollars and 666 00:34:39,320 --> 00:34:41,719 Speaker 1: silver went to fifty dollars an ounce, But it was 667 00:34:41,719 --> 00:34:45,680 Speaker 1: actually more mild when you read through the PPI. So 668 00:34:45,880 --> 00:34:50,239 Speaker 1: PPI topped out in November nineteen seventy four and bottomed 669 00:34:50,360 --> 00:34:53,919 Speaker 1: twenty three months later in October nineteen seventy six. From 670 00:34:53,920 --> 00:34:55,960 Speaker 1: that point on, for the next three and a half years, 671 00:34:56,200 --> 00:34:58,520 Speaker 1: we were headed into the most extreme gold and silver 672 00:34:58,560 --> 00:35:02,520 Speaker 1: bowl markets in modern hit history. The dollar was nearly destroyed. Now, 673 00:35:02,520 --> 00:35:04,799 Speaker 1: it's important to understand at this point we had just 674 00:35:04,920 --> 00:35:07,480 Speaker 1: come off of the gold standard a couple of years earlier, 675 00:35:08,000 --> 00:35:10,480 Speaker 1: and so people were able to go buy gold again 676 00:35:10,480 --> 00:35:12,399 Speaker 1: in nineteen seventy four, and so it started taking off 677 00:35:12,440 --> 00:35:16,920 Speaker 1: like crazy. We also didn't have this you know, crazy 678 00:35:16,960 --> 00:35:19,200 Speaker 1: stock market like we have today. We didn't have millions 679 00:35:19,239 --> 00:35:23,040 Speaker 1: of equities to go into. The average American wasn't investing 680 00:35:23,080 --> 00:35:25,400 Speaker 1: into the stock market at the time, and so that 681 00:35:25,520 --> 00:35:27,120 Speaker 1: was a lot of reasons why we saw gold and 682 00:35:27,160 --> 00:35:29,760 Speaker 1: silver take off like it did. But at the time, 683 00:35:29,880 --> 00:35:33,080 Speaker 1: the inflation was so strong and people were going getting 684 00:35:33,160 --> 00:35:35,240 Speaker 1: out of the dollars fast as they could into anything 685 00:35:35,239 --> 00:35:39,600 Speaker 1: else that it nearly destroyed the dollar. And it was 686 00:35:39,640 --> 00:35:43,600 Speaker 1: only Paul Volker raising the Fed interest rates over twenty 687 00:35:43,680 --> 00:35:48,600 Speaker 1: percent that seems to save it all right, So if 688 00:35:48,680 --> 00:35:50,880 Speaker 1: we look at today, we see the same thing. PPI 689 00:35:51,160 --> 00:35:53,000 Speaker 1: has been in a year of a year declined for 690 00:35:53,040 --> 00:35:55,320 Speaker 1: fifteen months, not quite the twenty three months was on 691 00:35:55,360 --> 00:36:00,200 Speaker 1: the seventies. But you know, history rhymes doesn't repeat. Tell 692 00:36:00,239 --> 00:36:02,680 Speaker 1: sales should be falling if people are trying to save dollars, 693 00:36:02,840 --> 00:36:05,279 Speaker 1: and to some extent they are right, we can see 694 00:36:05,280 --> 00:36:08,560 Speaker 1: they're cutting spending. However, when counted in dollars rather than 695 00:36:08,680 --> 00:36:12,719 Speaker 1: units of goods and services acquired, can we see the difference? Now, 696 00:36:12,800 --> 00:36:14,719 Speaker 1: what's probably happening is that people are buying less and 697 00:36:14,840 --> 00:36:17,520 Speaker 1: less stuff for more and more money. In other words, 698 00:36:17,560 --> 00:36:20,799 Speaker 1: retail spending is concentrated in more and more basic necessities, 699 00:36:21,000 --> 00:36:24,320 Speaker 1: showing up as increased spending when it's actually decreased spending 700 00:36:24,360 --> 00:36:27,560 Speaker 1: in real terms. So they're not buying as many things. 701 00:36:27,640 --> 00:36:31,160 Speaker 1: They're spending more dollars, but now they're just buying food 702 00:36:31,400 --> 00:36:33,520 Speaker 1: as opposed to spend. So let's say you were spending 703 00:36:33,520 --> 00:36:35,560 Speaker 1: one thousand dollars a month discretionary and you were buying, 704 00:36:35,760 --> 00:36:37,440 Speaker 1: going on buying a bunch of things. Now you're still 705 00:36:37,440 --> 00:36:39,799 Speaker 1: spend a thousand, but you're just buying food. So you've 706 00:36:39,800 --> 00:36:44,200 Speaker 1: increased your spending, but you've decreased it in spending of 707 00:36:44,239 --> 00:36:46,520 Speaker 1: real terms, if that makes sense. If you're just tuning in, 708 00:36:46,560 --> 00:36:48,719 Speaker 1: you've been listening to the Mark mass Show, running you 709 00:36:48,760 --> 00:36:52,280 Speaker 1: through the decentralized Revolution and the latest breaking news headlines 710 00:36:52,280 --> 00:36:54,160 Speaker 1: of this week so you stay up to date on 711 00:36:54,200 --> 00:36:56,760 Speaker 1: what's going on. That's what we got for the show today. 712 00:36:56,840 --> 00:36:58,680 Speaker 1: Thanks so much for listening. Hit me up on social 713 00:36:58,680 --> 00:37:01,160 Speaker 1: media at one Mark Moss and let me know what 714 00:37:01,280 --> 00:37:03,040 Speaker 1: topics you like me to cover, so we'll get more 715 00:37:03,040 --> 00:37:04,960 Speaker 1: of that and the next show. And that's what we got. 716 00:37:05,000 --> 00:37:06,560 Speaker 1: Thanks so much for listening. Until next time,