1 00:00:03,840 --> 00:00:10,480 Speaker 1: It's that time, time, time, luck and loud. 2 00:00:11,360 --> 00:00:25,520 Speaker 2: Michael Arry Show is on the air. Definitely rule with. 3 00:00:25,800 --> 00:00:30,680 Speaker 1: NVC or MSNBC. I don't watch television, so I just 4 00:00:30,720 --> 00:00:36,320 Speaker 1: watched the clips. Had said on the record that Kamala 5 00:00:36,360 --> 00:00:38,440 Speaker 1: Harris didn't need to do any debates or mean any 6 00:00:38,479 --> 00:00:44,360 Speaker 1: interviews because everything she stands for is great and she 7 00:00:44,400 --> 00:00:47,199 Speaker 1: didn't have time and nobody should criticize her for that, 8 00:00:48,120 --> 00:00:50,800 Speaker 1: which of course meant she would be rewarded with an interview. 9 00:00:51,520 --> 00:00:55,080 Speaker 1: If you're going to go out there and promote Kamala 10 00:00:55,160 --> 00:00:59,040 Speaker 1: Harris like that and defend the indefensible in that manner, 11 00:01:00,080 --> 00:01:01,320 Speaker 1: then you're the person we're going. 12 00:01:01,240 --> 00:01:03,480 Speaker 2: To do a quote unquote interview with. 13 00:01:05,360 --> 00:01:08,720 Speaker 1: So the Harris campaign tells Stephanie Rue, Hey, we're going 14 00:01:08,760 --> 00:01:11,559 Speaker 1: to do an interview. This will help you help your network. Okay, great, 15 00:01:13,319 --> 00:01:17,839 Speaker 1: And it was a train wreck. This wasn't an objective, 16 00:01:17,920 --> 00:01:25,840 Speaker 1: certainly wasn't a a what's the word on an argumentative interview. 17 00:01:26,600 --> 00:01:30,520 Speaker 1: It was meant to promote Kamala Harris. Certainly wasn't objective 18 00:01:31,000 --> 00:01:36,880 Speaker 1: much less somebody that was going after her. So let's 19 00:01:36,920 --> 00:01:40,440 Speaker 1: start with so you understand who Stephanie Rule is Let's 20 00:01:40,760 --> 00:01:43,240 Speaker 1: start with what she had said about Kamala Harris prior 21 00:01:43,280 --> 00:01:49,560 Speaker 1: to the interview. She said that Kamala Harris was guilty, 22 00:01:50,600 --> 00:01:51,800 Speaker 1: guilty of what you ask. 23 00:01:52,840 --> 00:01:55,920 Speaker 2: She's just guilty of being a black woman. 24 00:01:57,800 --> 00:01:58,919 Speaker 3: For anyone out there. 25 00:01:58,760 --> 00:02:01,760 Speaker 4: Who was saying Kamala Harris is far more progressive than 26 00:02:01,840 --> 00:02:04,280 Speaker 4: Joe Biden, she's not. Look at the numbers she just 27 00:02:04,360 --> 00:02:06,960 Speaker 4: put out this week about long term capital gain staff. 28 00:02:07,200 --> 00:02:10,160 Speaker 4: What Kamala Harris is guilty of is being a black woman. 29 00:02:10,440 --> 00:02:13,760 Speaker 4: And for someone who's not actually paying attention to economic policy, 30 00:02:13,800 --> 00:02:17,240 Speaker 4: they're saying she must be more progressive, she's not. And 31 00:02:17,280 --> 00:02:20,280 Speaker 4: to the business community that's saying we're aokay with Trump, 32 00:02:20,520 --> 00:02:22,359 Speaker 4: I would just love to sit down with them. I'd 33 00:02:22,400 --> 00:02:25,000 Speaker 4: love to know who was in that room yesterday. I mean, 34 00:02:25,040 --> 00:02:27,600 Speaker 4: in the last week, we're hearing names like Howard Lutnick, 35 00:02:27,639 --> 00:02:31,520 Speaker 4: who's the CEO of Canter Fitzgerald, who is now on 36 00:02:31,720 --> 00:02:36,400 Speaker 4: Donald Trump's transition team, right, self made billionaire, extraordinarily successful person. 37 00:02:36,600 --> 00:02:39,480 Speaker 4: I'd love to know what policies is, how we're down 38 00:02:39,560 --> 00:02:41,960 Speaker 4: with or is it just, oh, we're done with the 39 00:02:42,000 --> 00:02:45,360 Speaker 4: wokeness Lena Kahn she's anti business, but they're never getting 40 00:02:45,400 --> 00:02:48,240 Speaker 4: into detail. And the reason we should be concerned is 41 00:02:48,320 --> 00:02:52,160 Speaker 4: that this is the United States recreating itself with oligarchs. 42 00:02:52,360 --> 00:02:55,440 Speaker 4: Because oligarchs in Russia, they know there are scores of 43 00:02:55,480 --> 00:02:58,639 Speaker 4: people living in squalor, but it doesn't matter because they've 44 00:02:58,680 --> 00:03:01,520 Speaker 4: got an inside track to Vladimir Putin and they're rich 45 00:03:01,560 --> 00:03:02,280 Speaker 4: as rich can be. 46 00:03:03,000 --> 00:03:10,240 Speaker 1: Oh oligarks, you mean like Bill Gates, you mean like 47 00:03:10,520 --> 00:03:17,359 Speaker 1: reied Hoffman, you mean like Mark Zuckerberg, you mean those 48 00:03:17,480 --> 00:03:20,799 Speaker 1: kind of oligarks because they are a running the country, 49 00:03:20,800 --> 00:03:25,440 Speaker 1: There's no doubt. So Stephanie Rule was on Bill Mahers 50 00:03:25,480 --> 00:03:29,400 Speaker 1: show recently. The panel was discussing Kamala Harris and her 51 00:03:29,480 --> 00:03:31,079 Speaker 1: avoidance of interviews. 52 00:03:31,280 --> 00:03:32,919 Speaker 2: She won't do them because she looks dumb. 53 00:03:34,120 --> 00:03:40,880 Speaker 1: And Stephanie Rule, who's really auditioning to get to interview? 54 00:03:40,960 --> 00:03:44,840 Speaker 1: Kamala Harris embarrassed herself by saying this. 55 00:03:45,600 --> 00:03:48,880 Speaker 5: It's not too much to ask Kamala say, are you 56 00:03:48,920 --> 00:03:51,520 Speaker 5: for a Palestinian state? If Hamas is going to run 57 00:03:51,560 --> 00:03:52,920 Speaker 5: that state? Okay? 58 00:03:52,920 --> 00:03:53,240 Speaker 3: Just for no. 59 00:03:53,520 --> 00:03:55,800 Speaker 4: And let's say you don't like her answer, are you 60 00:03:55,880 --> 00:03:57,640 Speaker 4: going to vote for Donald Trump? 61 00:03:57,760 --> 00:03:57,960 Speaker 1: No? 62 00:03:58,000 --> 00:04:03,240 Speaker 4: I'm not vote running for perfect She's running against Trump, 63 00:04:03,560 --> 00:04:06,560 Speaker 4: we have two choices, and so there are some things 64 00:04:06,600 --> 00:04:10,120 Speaker 4: you might not know her answer to. And in twenty 65 00:04:10,200 --> 00:04:12,840 Speaker 4: twenty four, unlike twenty sixteen, for a lot of the 66 00:04:12,840 --> 00:04:16,800 Speaker 4: American people, we know exactly what Trump will do, who 67 00:04:16,839 --> 00:04:19,719 Speaker 4: he is, and the kind of threat he is to democracy. 68 00:04:19,800 --> 00:04:20,159 Speaker 5: I don't know. 69 00:04:20,200 --> 00:04:22,400 Speaker 2: It's unfearingly how could be? 70 00:04:23,600 --> 00:04:25,880 Speaker 5: And the more the problem that a lot of people 71 00:04:26,040 --> 00:04:30,640 Speaker 5: have your Pamla is we don't know her answer to anything. 72 00:04:30,920 --> 00:04:33,520 Speaker 3: Okay, you know, answer to everything. 73 00:04:33,839 --> 00:04:35,640 Speaker 5: And that's why I would never vote for him, and 74 00:04:35,680 --> 00:04:38,080 Speaker 5: people should vote for him. But people also are expected 75 00:04:38,320 --> 00:04:41,440 Speaker 5: to have some idea of what the program is of 76 00:04:41,560 --> 00:04:44,040 Speaker 5: the person you're supposed to vote for. You're just not 77 00:04:44,120 --> 00:04:45,920 Speaker 5: supposed to say, well, you have to vote for why 78 00:04:46,080 --> 00:04:47,080 Speaker 5: because X is this. 79 00:04:47,200 --> 00:04:49,440 Speaker 2: That and the other. Let's find out a little bit more. 80 00:04:49,800 --> 00:04:51,440 Speaker 3: And I don't think it's a lot to ask her 81 00:04:51,520 --> 00:04:52,240 Speaker 3: to sit down for. 82 00:04:52,279 --> 00:04:54,760 Speaker 2: A real interview, as it hurts for a health. 83 00:04:54,640 --> 00:04:58,080 Speaker 5: Piece in which she describes, like her her feelings that 84 00:04:58,200 --> 00:04:59,359 Speaker 5: growing up in openings with. 85 00:04:59,480 --> 00:05:02,760 Speaker 4: Nice lets, then I would visited that when you moved 86 00:05:02,800 --> 00:05:05,680 Speaker 4: to Nirvana, give me your real estate broker's number and 87 00:05:05,800 --> 00:05:07,520 Speaker 4: I'll be your next to Nabor we. 88 00:05:07,680 --> 00:05:08,400 Speaker 3: Don't live there. 89 00:05:09,279 --> 00:05:12,200 Speaker 1: We don't live in Nirvana, so we shouldn't hold Kamala 90 00:05:12,279 --> 00:05:18,120 Speaker 1: Harris to any standards. Is it nirvana? Okay, now we 91 00:05:18,320 --> 00:05:23,039 Speaker 1: know where Stephanie Rule's mind is. She doesn't think Kamala 92 00:05:23,080 --> 00:05:27,320 Speaker 1: Harris needs to answer questions. So now she has an 93 00:05:27,360 --> 00:05:30,160 Speaker 1: interview with Kamala Harris. You've already said she shouldn't need 94 00:05:30,240 --> 00:05:33,800 Speaker 1: to answer questions, so she starts. So we've set this 95 00:05:33,960 --> 00:05:35,919 Speaker 1: thing up. This is gonna be great for Kamala, right 96 00:05:35,920 --> 00:05:37,160 Speaker 1: because it's a complete setup. 97 00:05:38,440 --> 00:05:45,200 Speaker 2: So how do you bungle that? Kamala Harris is playing 98 00:05:45,279 --> 00:05:48,320 Speaker 2: t ball and she struck out? I mean, this is bad. 99 00:05:49,560 --> 00:05:52,560 Speaker 2: So Stephanie Rule starts with a nice softball question. 100 00:05:53,320 --> 00:05:56,160 Speaker 4: First one, just a fact check because your opponent there 101 00:05:56,200 --> 00:06:00,680 Speaker 4: is a little day is a little ja here, because 102 00:06:00,720 --> 00:06:03,320 Speaker 4: your opponent almost every day seems to be talking about this. 103 00:06:03,480 --> 00:06:04,880 Speaker 3: So I just want to ask you yes or no? 104 00:06:05,080 --> 00:06:05,880 Speaker 3: At any point in. 105 00:06:05,920 --> 00:06:10,560 Speaker 4: Your life have you served to all these patties, special. 106 00:06:10,240 --> 00:06:12,560 Speaker 3: Sauces, let us cheese pickures onions on a. 107 00:06:12,600 --> 00:06:15,360 Speaker 4: Sesame seed, but looking at a McDonald's, yes or no? 108 00:06:15,480 --> 00:06:18,640 Speaker 3: That's it? I have Okay, now the other job, but 109 00:06:18,760 --> 00:06:21,120 Speaker 3: it was not a small job like I do prize. 110 00:06:21,360 --> 00:06:26,320 Speaker 1: I mean, you know, but she didn't. The problem is 111 00:06:26,440 --> 00:06:31,640 Speaker 1: she can't now say no, I haven't because she's lied 112 00:06:31,720 --> 00:06:32,200 Speaker 1: and said that. 113 00:06:33,440 --> 00:06:34,479 Speaker 2: The problem is. 114 00:06:36,080 --> 00:06:41,280 Speaker 1: When a pathological liar who creates their own background for 115 00:06:41,440 --> 00:06:47,520 Speaker 1: their benefit, tells a lie for so long it becomes 116 00:06:47,760 --> 00:06:51,599 Speaker 1: part of their narrative, she may even believe it's true 117 00:06:52,640 --> 00:06:56,320 Speaker 1: because she has told it so often. We've seen this 118 00:06:56,480 --> 00:07:01,960 Speaker 1: with politicians who would rather die than their lie because 119 00:07:02,160 --> 00:07:07,000 Speaker 1: they truly believe they're telling the truth due to having 120 00:07:08,480 --> 00:07:10,440 Speaker 1: told this lie so many times. 121 00:07:11,840 --> 00:07:15,320 Speaker 2: So yeah, well, you know the point. 122 00:07:15,520 --> 00:07:18,720 Speaker 1: Stefanie Rule asked Kamala Harris about her criticism of Trump 123 00:07:18,840 --> 00:07:22,960 Speaker 1: promising to add tariffs to cars coming out of Mexico. 124 00:07:23,080 --> 00:07:24,040 Speaker 2: This one's an important. 125 00:07:24,760 --> 00:07:28,280 Speaker 4: Tariffs aren't unique to President Trump. President Biden has tariffs 126 00:07:28,320 --> 00:07:32,160 Speaker 4: in place. He's actually looking to potentially implement more. Where 127 00:07:32,240 --> 00:07:34,200 Speaker 4: do you come out on is there a good tariff 128 00:07:34,280 --> 00:07:34,560 Speaker 4: or bad? 129 00:07:35,360 --> 00:07:38,080 Speaker 6: Well, part of it is you don't just throw around 130 00:07:38,160 --> 00:07:40,840 Speaker 6: the idea of just tariffs across the board. And that's 131 00:07:40,880 --> 00:07:44,160 Speaker 6: part of the problem with Donald Trump. Frankly, I'm going 132 00:07:44,200 --> 00:07:46,960 Speaker 6: to and I say this in all sincerity, he's just 133 00:07:47,040 --> 00:07:49,240 Speaker 6: not very serious about how he thinks about some of 134 00:07:49,280 --> 00:07:55,160 Speaker 6: these issues, and one must be serious and have a plan, 135 00:07:57,760 --> 00:07:58,560 Speaker 6: which means. 136 00:07:58,440 --> 00:08:03,240 Speaker 1: She doesn't know what a tariff is. The irony that 137 00:08:03,440 --> 00:08:09,680 Speaker 1: she is claiming that Donald Trump is not serious about 138 00:08:09,800 --> 00:08:15,440 Speaker 1: tariffs and he needs to be serious. When she's not serious, 139 00:08:16,560 --> 00:08:21,240 Speaker 1: she doesn't actually understand what they mean. Liberals will tell 140 00:08:21,320 --> 00:08:25,280 Speaker 1: you that a tariff is paid for by Americans. When 141 00:08:25,320 --> 00:08:27,520 Speaker 1: you make something cost more when it comes into this country, 142 00:08:27,560 --> 00:08:30,080 Speaker 1: it's not the other country that's punished. It's the Americans 143 00:08:30,120 --> 00:08:32,640 Speaker 1: who have to pay more for it. Okay, a tariff 144 00:08:32,720 --> 00:08:35,600 Speaker 1: is a tax on things coming into the country. By 145 00:08:35,720 --> 00:08:40,880 Speaker 1: that same logic, then passing taxes on through hugual corporations 146 00:08:41,559 --> 00:08:45,680 Speaker 1: through the corporate tax increase would also be a tax 147 00:08:45,720 --> 00:08:50,880 Speaker 1: on Americans. That's consistent. I'm not convince how many people 148 00:08:51,040 --> 00:08:51,720 Speaker 1: understand this. 149 00:08:53,800 --> 00:08:56,240 Speaker 6: Gone in today of everyone thinking they could actually live 150 00:08:56,280 --> 00:08:57,160 Speaker 6: the American. 151 00:08:56,800 --> 00:09:02,679 Speaker 1: True The Michael Barry Show, so we're breaking down the 152 00:09:02,920 --> 00:09:06,880 Speaker 1: interview quote unquote between Stephanie Rule of MSNBC, who didn't 153 00:09:06,920 --> 00:09:09,640 Speaker 1: believe that Kamala should even have to do interviews. 154 00:09:09,880 --> 00:09:10,760 Speaker 2: You know, that's crazy. 155 00:09:10,920 --> 00:09:13,360 Speaker 1: She shouldn't have to she's too great, and that the 156 00:09:13,440 --> 00:09:16,360 Speaker 1: only reason anybody ever criticizes her is because she's black, 157 00:09:16,400 --> 00:09:16,679 Speaker 1: all right. 158 00:09:16,679 --> 00:09:17,720 Speaker 2: So that's what we're dealing with here. 159 00:09:19,520 --> 00:09:22,240 Speaker 1: So she asked Kamala Harris about I don't think she 160 00:09:22,360 --> 00:09:25,640 Speaker 1: realized how dumb Kamala Harris is. I really don't. We're 161 00:09:25,640 --> 00:09:28,439 Speaker 1: going to get to that because she's kind of hinted 162 00:09:28,480 --> 00:09:33,280 Speaker 1: that now she does. Stephanie Rule asked Kamala Harris about 163 00:09:33,320 --> 00:09:38,960 Speaker 1: her plan to lower the cost of housing, and here's 164 00:09:39,000 --> 00:09:39,400 Speaker 1: the answer. 165 00:09:40,520 --> 00:09:42,959 Speaker 6: Some of the work is going to be through what 166 00:09:43,080 --> 00:09:46,199 Speaker 6: we do in terms of giving benefits and assistance to 167 00:09:46,240 --> 00:09:51,320 Speaker 6: state local governments around transit dollars and looking holistically at 168 00:09:51,360 --> 00:09:55,560 Speaker 6: the connection between that and housing, and looking holistically at 169 00:09:55,640 --> 00:09:57,920 Speaker 6: the incentives we in the federal government can create for 170 00:09:58,000 --> 00:10:01,040 Speaker 6: local and state governments to actually engage in planning in 171 00:10:01,040 --> 00:10:06,199 Speaker 6: a holistic manner. That includes prioritizing affordable housing for working people. 172 00:10:07,920 --> 00:10:09,920 Speaker 1: So you've got working class because you know, she was 173 00:10:09,960 --> 00:10:13,280 Speaker 1: born a working class girl. That's in everything, And you've 174 00:10:13,320 --> 00:10:14,240 Speaker 1: got the word holistic. 175 00:10:16,679 --> 00:10:16,800 Speaker 3: Now. 176 00:10:16,880 --> 00:10:18,640 Speaker 2: The reason they're giving her that word. 177 00:10:20,000 --> 00:10:22,760 Speaker 1: Is because she can never give a specific answer to 178 00:10:22,800 --> 00:10:27,000 Speaker 1: anything because she doesn't understand anything. So what she does, 179 00:10:27,480 --> 00:10:30,360 Speaker 1: which remember the people who are helping her. They're not 180 00:10:30,520 --> 00:10:33,120 Speaker 1: dumb dumps. She's a dumb dump. They're not dumb dumps. 181 00:10:34,280 --> 00:10:37,200 Speaker 1: Those people are having to give her language to use 182 00:10:38,000 --> 00:10:41,760 Speaker 1: that covers for the fact that she doesn't know how 183 00:10:41,800 --> 00:10:46,760 Speaker 1: to answer these questions. So what she's saying is and 184 00:10:46,840 --> 00:10:49,240 Speaker 1: this is what they've taught her to say. They say, hey, look, 185 00:10:49,679 --> 00:10:51,920 Speaker 1: how do you drive down the price of housing because 186 00:10:51,960 --> 00:10:55,360 Speaker 1: this is really hurting people. Well, listen, you got to 187 00:10:55,400 --> 00:10:59,559 Speaker 1: take a big picture answer. You've got to be holistic 188 00:10:59,640 --> 00:11:03,400 Speaker 1: about it, which is big picture more than just the individually. 189 00:11:03,720 --> 00:11:07,079 Speaker 1: You have to take a holistic approach. So you're being 190 00:11:07,160 --> 00:11:10,920 Speaker 1: holistic while you're being holistic and being holistic. 191 00:11:11,320 --> 00:11:18,800 Speaker 2: For the middle class. Oh okay, so again, what is 192 00:11:18,840 --> 00:11:19,160 Speaker 2: the plan? 193 00:11:20,760 --> 00:11:22,120 Speaker 3: You and I know. 194 00:11:23,920 --> 00:11:28,480 Speaker 1: Because we understand basic economics, laws of economics, not theories, 195 00:11:29,400 --> 00:11:33,920 Speaker 1: not ideas, the laws of economics. If you want to 196 00:11:34,040 --> 00:11:39,160 Speaker 1: lower the cost of housing, you've got to increase the supply. 197 00:11:40,480 --> 00:11:44,280 Speaker 1: Democrats do the opposite. They make it impossible to build. 198 00:11:45,800 --> 00:11:49,280 Speaker 1: Builders don't need city, state, and federal government. They don't 199 00:11:49,320 --> 00:11:51,720 Speaker 1: need holistic. They need you to get out of the way, 200 00:11:52,400 --> 00:11:54,840 Speaker 1: is what they need. They need you to stop telling 201 00:11:54,880 --> 00:11:56,959 Speaker 1: them how to build their homes. They need you to 202 00:11:57,000 --> 00:12:02,240 Speaker 1: stop requiring all this environmental crap. It's helistic, is what 203 00:12:02,360 --> 00:12:05,480 Speaker 1: it is. Now Listen again and you'll realize she has 204 00:12:05,840 --> 00:12:11,000 Speaker 1: no idea, no understanding. She'd never built anything. And why 205 00:12:11,120 --> 00:12:15,880 Speaker 1: is that important? Because if you've had to comply with 206 00:12:16,040 --> 00:12:21,079 Speaker 1: government regulations city, state, federal, if you've had to comply 207 00:12:21,280 --> 00:12:23,760 Speaker 1: with those laws, you know which laws make it most 208 00:12:23,800 --> 00:12:26,480 Speaker 1: difficult to do your job. 209 00:12:26,960 --> 00:12:29,760 Speaker 2: You understand it. She has no clue. 210 00:12:30,440 --> 00:12:32,880 Speaker 3: Some of the work is going to be through what 211 00:12:33,000 --> 00:12:33,240 Speaker 3: we do. 212 00:12:33,320 --> 00:12:36,439 Speaker 6: In terms of giving benefits and assistance to state and 213 00:12:36,440 --> 00:12:41,319 Speaker 6: local governments around transit dollars and looking holistically at the 214 00:12:41,360 --> 00:12:45,599 Speaker 6: connection between that and housing, and looking holistically at the 215 00:12:45,640 --> 00:12:48,160 Speaker 6: incentives we in the federal government can create for local 216 00:12:48,240 --> 00:12:51,560 Speaker 6: and state governments to actually engage in planning and holistic 217 00:12:51,720 --> 00:12:56,120 Speaker 6: manner that includes prioritizing affordable housing for working people. 218 00:12:57,960 --> 00:13:00,400 Speaker 1: At the last minute, she remembered thro away and the 219 00:13:00,440 --> 00:13:05,319 Speaker 1: working people in there, maybe the middle class too. So 220 00:13:05,440 --> 00:13:07,800 Speaker 1: then Stephanie Rule asks her how she plans to pay 221 00:13:07,920 --> 00:13:11,520 Speaker 1: for these things that she wants to do if the 222 00:13:11,679 --> 00:13:14,320 Speaker 1: Republicans win the Senate and she can't get all the. 223 00:13:14,400 --> 00:13:17,160 Speaker 2: Tax increases that she wants, So how do you pay 224 00:13:17,200 --> 00:13:17,360 Speaker 2: for it? 225 00:13:17,480 --> 00:13:21,640 Speaker 4: Then expanding that child tax credit? Or you mentioned housing 226 00:13:21,720 --> 00:13:24,800 Speaker 4: before giving that extra money for a first home. If 227 00:13:24,840 --> 00:13:28,000 Speaker 4: you can't raise corporate taxes, or if GOP takes control 228 00:13:28,080 --> 00:13:30,160 Speaker 4: of the Senate, where do you get the money to 229 00:13:30,240 --> 00:13:30,480 Speaker 4: do that? 230 00:13:30,559 --> 00:13:32,520 Speaker 3: Do you still go forward with those plans and borrow? 231 00:13:33,760 --> 00:13:36,920 Speaker 6: Well, but we're going to have to raise corporate taxes, 232 00:13:37,200 --> 00:13:40,599 Speaker 6: and we're going to have to raise We're going to 233 00:13:40,640 --> 00:13:44,120 Speaker 6: have to make sure that the biggest corporations. 234 00:13:43,880 --> 00:13:47,360 Speaker 3: And billionaires pay their fair share. That's just it. It's 235 00:13:47,400 --> 00:13:48,920 Speaker 3: about paying their fair share. 236 00:13:49,720 --> 00:13:53,040 Speaker 6: I am not mad at anyone for achieving success, but 237 00:13:53,240 --> 00:13:55,360 Speaker 6: everyone should pay their fair share. And it is not 238 00:13:55,640 --> 00:13:58,240 Speaker 6: right that the teachers and the firefighters that I meet 239 00:13:58,559 --> 00:14:01,640 Speaker 6: every day across our country or paying a higher tax 240 00:14:02,679 --> 00:14:04,680 Speaker 6: than the richest people in our country. 241 00:14:04,840 --> 00:14:06,080 Speaker 3: Bill Gates just said it this week. 242 00:14:06,120 --> 00:14:07,800 Speaker 4: If he was in charge of taxes, he would have 243 00:14:07,840 --> 00:14:10,400 Speaker 4: paid more. But how do you find that line to 244 00:14:10,480 --> 00:14:13,360 Speaker 4: make sure corporations are paying their fair share but they're 245 00:14:13,400 --> 00:14:14,440 Speaker 4: not leaving our country? 246 00:14:15,160 --> 00:14:17,480 Speaker 6: Well, listen, I work with a lot of CEOs. I 247 00:14:17,600 --> 00:14:19,280 Speaker 6: have spent a lot of time with CEOs, and I'm 248 00:14:19,320 --> 00:14:22,040 Speaker 6: going to tell you that the business leaders who are 249 00:14:22,080 --> 00:14:27,200 Speaker 6: actually part of the engine of America's economy agree that 250 00:14:27,280 --> 00:14:29,960 Speaker 6: people should pay their fair share. They also agree that 251 00:14:30,640 --> 00:14:33,000 Speaker 6: when we look at a plan such as mine that 252 00:14:33,160 --> 00:14:36,880 Speaker 6: is about investing in the middle class, investing in new industries, 253 00:14:37,280 --> 00:14:42,280 Speaker 6: investing in bringing down costs, investing in entrepreneurs like small businesses, 254 00:14:42,520 --> 00:14:45,840 Speaker 6: that the overall economy is stronger and everyone benefits. 255 00:14:48,800 --> 00:14:54,720 Speaker 2: Wait, what everyone needs to pay their fair share? 256 00:14:56,720 --> 00:14:58,240 Speaker 1: Well, how about the fact that half the people in 257 00:14:58,280 --> 00:15:01,520 Speaker 1: this country don't pay any taxes, any income taxes? 258 00:15:01,640 --> 00:15:05,440 Speaker 2: Is that their fair share? Do they literally owe nothing? 259 00:15:06,960 --> 00:15:08,120 Speaker 2: How do we arrive at that? 260 00:15:09,720 --> 00:15:13,680 Speaker 1: As Thomas Soul famously responded to someone, how do you 261 00:15:14,640 --> 00:15:19,120 Speaker 1: arrive at the amount of someone else's money they owe 262 00:15:19,200 --> 00:15:24,040 Speaker 1: you as your fair share? How did you decide that 263 00:15:24,120 --> 00:15:28,200 Speaker 1: what I have you need because it's only fair? How 264 00:15:28,280 --> 00:15:32,040 Speaker 1: did you decide that the work I do while you're 265 00:15:32,080 --> 00:15:34,480 Speaker 1: sitting on your ass making babies, you don't write, you 266 00:15:35,000 --> 00:15:38,640 Speaker 1: don't raise or mugging people, and end up in prison, 267 00:15:38,760 --> 00:15:40,680 Speaker 1: and when you get out you deserve some of mine 268 00:15:41,440 --> 00:15:45,160 Speaker 1: when I didn't do that. If I plant and harvest 269 00:15:45,240 --> 00:15:49,360 Speaker 1: and grow and you sit under a tree, how much 270 00:15:49,440 --> 00:15:54,960 Speaker 1: of my food that I worked on do you deserve well? 271 00:15:55,520 --> 00:15:56,880 Speaker 1: The people that sit under the tree and don't do 272 00:15:56,880 --> 00:16:00,280 Speaker 1: any work, they get to vote too, and there are 273 00:16:00,280 --> 00:16:04,160 Speaker 1: a lot of them. If you can't raise the taxes 274 00:16:05,360 --> 00:16:09,240 Speaker 1: that you have to raise for this money, and her 275 00:16:09,360 --> 00:16:13,920 Speaker 1: answer is it must be done. But that's not the answer. 276 00:16:14,680 --> 00:16:18,160 Speaker 1: That's not a plan. She doesn't have a plan because 277 00:16:18,200 --> 00:16:22,480 Speaker 1: she doesn't understand this. But people that don't understand this 278 00:16:22,840 --> 00:16:27,080 Speaker 1: don't know that she doesn't understand this. That's the blind 279 00:16:27,160 --> 00:16:27,760 Speaker 1: leading the blind. 280 00:16:28,680 --> 00:16:32,600 Speaker 6: One must be serious and have a plan and a 281 00:16:32,680 --> 00:16:36,160 Speaker 6: real plan that's not just about some talking point ending 282 00:16:36,280 --> 00:16:40,440 Speaker 6: in an exclamation at a political rally, but actually putting 283 00:16:40,480 --> 00:16:42,920 Speaker 6: the thought into what will be the return on the investment, 284 00:16:43,000 --> 00:16:45,680 Speaker 6: what will be the economic impact on everyday people. 285 00:16:46,200 --> 00:16:48,520 Speaker 2: I know this makes some of you very very crazy. 286 00:16:48,640 --> 00:16:52,320 Speaker 2: I do, and I know that me saying this is 287 00:16:52,440 --> 00:16:53,400 Speaker 2: going to upset. 288 00:16:53,120 --> 00:17:02,840 Speaker 1: You, But I deeply, deeply admire the moxie of the 289 00:17:02,960 --> 00:17:09,000 Speaker 1: people running the Kamala campaign. That they take everything about 290 00:17:09,119 --> 00:17:14,399 Speaker 1: her and they claim that Trump has done that. You 291 00:17:14,480 --> 00:17:17,359 Speaker 1: can get angry about it, or you can see that 292 00:17:17,520 --> 00:17:18,280 Speaker 1: these people. 293 00:17:18,119 --> 00:17:20,240 Speaker 2: Are really really, really really good. 294 00:17:20,720 --> 00:17:23,480 Speaker 1: You know, cops will tell you when they finally catch 295 00:17:23,600 --> 00:17:26,960 Speaker 1: the bandit that they had a kind of an admiration 296 00:17:27,119 --> 00:17:29,640 Speaker 1: for this guy. He was burgling homes and never hurting anybody, 297 00:17:29,960 --> 00:17:31,720 Speaker 1: but he was so good we could never catch him 298 00:17:31,720 --> 00:17:34,000 Speaker 1: over all those years. We had kind of a sneaking 299 00:17:34,040 --> 00:17:37,960 Speaker 1: admiration for him. For her to repeatedly say, you have 300 00:17:38,040 --> 00:17:40,160 Speaker 1: to have a plan, a real plan. That's the important 301 00:17:40,200 --> 00:17:41,960 Speaker 1: thing is you have a plan. This is a woman 302 00:17:42,000 --> 00:17:44,760 Speaker 1: that has no plan. So by saying you have to 303 00:17:44,800 --> 00:17:47,119 Speaker 1: have a plan, nobody thinks to themselves, well do you 304 00:17:47,240 --> 00:17:49,760 Speaker 1: have a plan? Listen to this again. 305 00:17:50,480 --> 00:17:54,440 Speaker 6: One must be serious and have a plan and a 306 00:17:54,520 --> 00:17:58,000 Speaker 6: real plan. That's not just about some talking point ending 307 00:17:58,119 --> 00:18:02,359 Speaker 6: in an exclamation a political rally, but actually putting the 308 00:18:02,520 --> 00:18:04,760 Speaker 6: thought into what will be the return on the investment, 309 00:18:04,840 --> 00:18:05,360 Speaker 6: what will. 310 00:18:05,200 --> 00:18:07,520 Speaker 3: Be the economic impact on everyday people. 311 00:18:11,760 --> 00:18:14,960 Speaker 1: You gotta have a plan, a plan. She has a 312 00:18:15,040 --> 00:18:16,920 Speaker 1: plan to have a plan. She didn't have a plan, 313 00:18:17,000 --> 00:18:18,439 Speaker 1: but she has a plan to have a. 314 00:18:20,240 --> 00:18:22,160 Speaker 3: We are going to reporter. We've been to the border. 315 00:18:22,480 --> 00:18:25,280 Speaker 2: You haven't been wait the Michael Barrier and I haven't 316 00:18:25,320 --> 00:18:29,800 Speaker 2: been to yet. Jamila Harris had no policies on her website. 317 00:18:30,040 --> 00:18:32,960 Speaker 2: Just vote for me. I'm black. If you're black. I'm Indian, 318 00:18:33,000 --> 00:18:35,119 Speaker 2: if you're Indian, I'm a girl if you're a girl, 319 00:18:35,600 --> 00:18:36,080 Speaker 2: and I'm. 320 00:18:36,040 --> 00:18:40,879 Speaker 1: Very much for abortion, but no policies at all, all 321 00:18:40,920 --> 00:18:43,600 Speaker 1: the while telling us you gotta have policies, got plans. 322 00:18:44,280 --> 00:18:50,000 Speaker 1: It's crazy, but it's happening. It's really happening. It's idiocracy large. 323 00:18:51,480 --> 00:18:55,879 Speaker 1: The very first policy she introduced, which I think they 324 00:18:55,920 --> 00:18:58,000 Speaker 1: were still formulating it and she got ahead of it, 325 00:18:59,080 --> 00:19:04,520 Speaker 1: was price controls. Well, I spent a lot of my 326 00:19:04,760 --> 00:19:10,160 Speaker 1: time in my life reading about economic policies, and they're 327 00:19:10,240 --> 00:19:15,240 Speaker 1: pretty deep issues when you get to price controls. So 328 00:19:16,040 --> 00:19:20,200 Speaker 1: when she said we're going to implement price controls and 329 00:19:20,520 --> 00:19:23,920 Speaker 1: conservative talkers started, oh my god, she said price controls, 330 00:19:24,200 --> 00:19:30,439 Speaker 1: my immediate thought was, y'all don't realize the public doesn't 331 00:19:30,600 --> 00:19:36,560 Speaker 1: understand how bad price controls are. The public sees it 332 00:19:36,680 --> 00:19:41,680 Speaker 1: as instead of paying seven hundred dollars in rent, she's 333 00:19:41,760 --> 00:19:43,720 Speaker 1: going to make it that we only have to pay 334 00:19:43,800 --> 00:19:46,040 Speaker 1: five hundred dollars in rent and that'll be good for me, 335 00:19:46,800 --> 00:19:50,560 Speaker 1: without understanding that that would destroy the rental market and 336 00:19:50,600 --> 00:19:53,840 Speaker 1: there would be no new housing built, which makes the 337 00:19:53,880 --> 00:19:56,320 Speaker 1: government in charge of housing and runs the price up 338 00:19:56,400 --> 00:19:58,959 Speaker 1: and creates black markets, which is exactly what happens. 339 00:20:00,200 --> 00:20:03,000 Speaker 2: I did not realize my error. 340 00:20:04,400 --> 00:20:07,440 Speaker 1: How much the public understood that price controls don't work, 341 00:20:09,720 --> 00:20:14,920 Speaker 1: So you can tell it didn't poll well. The public 342 00:20:15,000 --> 00:20:19,440 Speaker 1: reacted to that. The public understands price controls are wrong. 343 00:20:19,720 --> 00:20:22,760 Speaker 1: You don't keep prices down by the government saying you 344 00:20:22,840 --> 00:20:28,640 Speaker 1: can't charge more. In the same way, conversely, you don't 345 00:20:28,760 --> 00:20:32,320 Speaker 1: drive wages up by government saying you have to pay 346 00:20:32,400 --> 00:20:37,000 Speaker 1: more in a minimum wage. You keep prices down by 347 00:20:37,200 --> 00:20:42,400 Speaker 1: expanding the supply, and people will build more, make more, 348 00:20:42,520 --> 00:20:47,000 Speaker 1: distribute more, sell more if they can sell them for 349 00:20:47,119 --> 00:20:50,720 Speaker 1: the price that the market will bear. People don't pay 350 00:20:51,560 --> 00:20:55,560 Speaker 1: for things unwillingly. They'd rather pay less, they'd rather not 351 00:20:55,680 --> 00:20:57,600 Speaker 1: have to pay. They rather steal their TV than pay 352 00:20:57,680 --> 00:21:01,639 Speaker 1: for it. But they use to give up their cash 353 00:21:02,240 --> 00:21:05,960 Speaker 1: for that item, whether it be food or a commodity. 354 00:21:07,240 --> 00:21:10,640 Speaker 1: They will pay for it, and they will buy more 355 00:21:11,000 --> 00:21:16,600 Speaker 1: when it costs less. This is how some manufacturers see rolls. 356 00:21:16,680 --> 00:21:19,600 Speaker 1: Royce doesn't make the most of all the car companies, 357 00:21:20,119 --> 00:21:23,080 Speaker 1: even if they charge the most per car, because there 358 00:21:23,080 --> 00:21:24,600 Speaker 1: aren't a lot of people that can pay five or 359 00:21:24,640 --> 00:21:28,520 Speaker 1: six or seven hundred thousand dollars for a car. Honda 360 00:21:28,640 --> 00:21:32,400 Speaker 1: will make more money selling cars that are twenty five 361 00:21:32,480 --> 00:21:40,400 Speaker 1: thousand dollars. It's a lean profit margin, but it's volume. Well, 362 00:21:40,440 --> 00:21:43,400 Speaker 1: this is how this works. Price control does the opposite. 363 00:21:44,320 --> 00:21:46,720 Speaker 1: So Kamala is now scared because she's on the record 364 00:21:46,800 --> 00:21:50,680 Speaker 1: for price controls. She can't admit she was wrong, So 365 00:21:50,960 --> 00:21:53,639 Speaker 1: she's so So the question, now, this was supposed to 366 00:21:53,640 --> 00:21:55,720 Speaker 1: be a softball, and it is a softball, but she 367 00:21:55,800 --> 00:21:58,880 Speaker 1: can't handle it. How do you go after price gouging 368 00:21:59,560 --> 00:22:01,240 Speaker 1: without out price controls? 369 00:22:01,800 --> 00:22:05,600 Speaker 2: Because remember you're for price controls, prices. 370 00:22:05,280 --> 00:22:05,920 Speaker 3: Are still hot. 371 00:22:06,160 --> 00:22:06,639 Speaker 2: I agree with you. 372 00:22:07,000 --> 00:22:09,880 Speaker 4: You said you want to take this on by going 373 00:22:09,920 --> 00:22:13,359 Speaker 4: after those who engage in price gouging. But as somebody 374 00:22:13,400 --> 00:22:17,440 Speaker 4: who supports free markets, who's a capitalist, how do you 375 00:22:17,520 --> 00:22:22,280 Speaker 4: go after price gouging without implementing price controls? Because once 376 00:22:22,320 --> 00:22:24,159 Speaker 4: we get in the zone, people start to. 377 00:22:24,160 --> 00:22:25,760 Speaker 3: Get worried and they say, I don't know what she 378 00:22:25,880 --> 00:22:26,320 Speaker 3: stands for. 379 00:22:27,040 --> 00:22:31,760 Speaker 6: So, just to be very frank, I am never going 380 00:22:31,840 --> 00:22:37,640 Speaker 6: to apologize for going after companies and corporations that take 381 00:22:37,680 --> 00:22:40,600 Speaker 6: advantage of the desperation of the American people. And as 382 00:22:40,600 --> 00:22:44,000 Speaker 6: Attorney General, I saw this happen in the midst of 383 00:22:44,080 --> 00:22:46,720 Speaker 6: an emergency, whether it be an extreme weather event or 384 00:22:46,760 --> 00:22:50,360 Speaker 6: even the pandemic. We saw it where those few companies, 385 00:22:50,600 --> 00:22:54,800 Speaker 6: not the majority, not most, but those few companies that 386 00:22:54,960 --> 00:22:58,880 Speaker 6: would take advantage of the desperation of people and jack 387 00:22:59,000 --> 00:22:59,440 Speaker 6: up prices. 388 00:22:59,520 --> 00:23:01,680 Speaker 3: Yeah, I'm going to go after them. Yes, I'm going 389 00:23:01,760 --> 00:23:02,600 Speaker 3: to go after them. 390 00:23:03,760 --> 00:23:06,920 Speaker 6: And that is part of a much more comprehensive plan 391 00:23:07,080 --> 00:23:09,480 Speaker 6: on what we can do to bring down the cost 392 00:23:09,520 --> 00:23:13,080 Speaker 6: of living, including housing, including the everyday needs of the 393 00:23:13,119 --> 00:23:13,800 Speaker 6: American people. 394 00:23:15,840 --> 00:23:20,719 Speaker 1: So price controls, price gouging is such an interesting thing. 395 00:23:21,600 --> 00:23:27,119 Speaker 1: I always annoy listeners when I say this, but so 396 00:23:27,240 --> 00:23:30,200 Speaker 1: people get angry. For instance, when we have a lot 397 00:23:30,240 --> 00:23:33,200 Speaker 1: of storms in the Houston area, what they're going through 398 00:23:33,480 --> 00:23:34,439 Speaker 1: in Florida right now. 399 00:23:35,080 --> 00:23:38,240 Speaker 2: We've gone through a lot of that here and really 400 00:23:38,320 --> 00:23:39,199 Speaker 2: devastating storms. 401 00:23:40,080 --> 00:23:43,200 Speaker 1: And so what happens is because we have such strict 402 00:23:43,359 --> 00:23:48,240 Speaker 1: prosecution of quote unquote price gougers, the gas stations can't 403 00:23:48,280 --> 00:23:50,480 Speaker 1: get their employees to come in when there's a bad storm. 404 00:23:51,440 --> 00:23:55,760 Speaker 1: Their employees just stay home. They don't come in because 405 00:23:55,800 --> 00:23:58,160 Speaker 1: they don't make more money on the selle of their 406 00:23:58,200 --> 00:24:02,040 Speaker 1: gas or their products. And they incur all this risk 407 00:24:02,200 --> 00:24:04,600 Speaker 1: because you're more likely to have theft, you're more likely 408 00:24:04,680 --> 00:24:07,240 Speaker 1: to have crime, you're more likely to have people angry. 409 00:24:07,680 --> 00:24:09,440 Speaker 2: So they go, we'll just take a couple days off. 410 00:24:10,440 --> 00:24:14,600 Speaker 1: Well, that makes the government mad because now there's no 411 00:24:14,760 --> 00:24:15,480 Speaker 1: gas stations. 412 00:24:16,160 --> 00:24:16,520 Speaker 3: I know this. 413 00:24:16,640 --> 00:24:18,320 Speaker 2: I was mayor of pro Tema City, Houston when. 414 00:24:18,200 --> 00:24:21,520 Speaker 1: This happened, and I watched this happen, and I said, 415 00:24:22,440 --> 00:24:25,800 Speaker 1: the only incentive for a gas station to stay open 416 00:24:26,119 --> 00:24:30,119 Speaker 1: during a storm is they can charge market rate, to 417 00:24:30,240 --> 00:24:36,080 Speaker 1: which other government officials told me no, because that's price gouging. Okay, 418 00:24:36,880 --> 00:24:41,240 Speaker 1: fair enough. Did you see this was back in two 419 00:24:41,240 --> 00:24:43,480 Speaker 1: thousand and five. Did you see at the Super Bowl 420 00:24:43,920 --> 00:24:47,040 Speaker 1: how much the tickets were going for? Yes, same person, 421 00:24:47,960 --> 00:24:50,400 Speaker 1: who's ten thousand dollars a ticket? And I said, yes, 422 00:24:52,080 --> 00:25:00,439 Speaker 1: that's price gouging. Right, Why are people so excit cited 423 00:25:00,880 --> 00:25:03,440 Speaker 1: to tell how much the price of a World Series 424 00:25:03,520 --> 00:25:07,040 Speaker 1: or Super Bowl ticket goes for? Okay, believe that face 425 00:25:07,200 --> 00:25:10,520 Speaker 1: value on that ticket was X, but it finally sold 426 00:25:10,720 --> 00:25:11,439 Speaker 1: for this amount. 427 00:25:11,560 --> 00:25:14,680 Speaker 2: That's price gouging. The only reason it sold for so 428 00:25:14,800 --> 00:25:17,440 Speaker 2: much money is because of the scarcity. 429 00:25:19,000 --> 00:25:22,960 Speaker 1: Right, the market will bear it out if you don't 430 00:25:23,040 --> 00:25:26,000 Speaker 1: allow an extra profit for taking on an extra risk. 431 00:25:26,400 --> 00:25:28,680 Speaker 1: Then people will shut down, and then you have no commerce. 432 00:25:28,880 --> 00:25:30,760 Speaker 1: That's what you get in venezuel. 433 00:25:30,359 --> 00:25:34,399 Speaker 2: President in the history of our christ, Michael Parry, we 434 00:25:34,520 --> 00:25:36,680 Speaker 2: can't afford four more years of this. 435 00:25:37,520 --> 00:25:39,720 Speaker 1: The people don't want executives to make a lot of money, 436 00:25:40,880 --> 00:25:43,080 Speaker 1: but they don't have a problem when their favorite athlete 437 00:25:43,119 --> 00:25:43,960 Speaker 1: makes all this money. 438 00:25:45,800 --> 00:25:46,800 Speaker 2: That's odd, isn't it. 439 00:25:48,560 --> 00:25:51,440 Speaker 1: And everybody wants to be in charge of how much 440 00:25:51,600 --> 00:25:54,040 Speaker 1: other people are paid if they're not paid enough. 441 00:25:55,680 --> 00:25:59,080 Speaker 2: You gotta have minimum wage fifteen dollars an hour. 442 00:26:00,400 --> 00:26:03,199 Speaker 1: Well, if we're all just going to decide what other 443 00:26:03,240 --> 00:26:05,199 Speaker 1: people are gonna have to pay somebody who works for them, 444 00:26:06,280 --> 00:26:11,080 Speaker 1: why stop at fifteen, Make it fifty or five hundred 445 00:26:12,040 --> 00:26:15,639 Speaker 1: or five thousand an hour. Why don't we just go 446 00:26:15,880 --> 00:26:18,200 Speaker 1: crazy and do some big numbers. If we're gonna do it, 447 00:26:18,480 --> 00:26:20,320 Speaker 1: let's do it right, Go bigger, go home. 448 00:26:21,680 --> 00:26:25,520 Speaker 2: Well you can't do that, Michael. How come because they 449 00:26:25,520 --> 00:26:27,879 Speaker 2: can't afford that much? That's not the answer. 450 00:26:28,680 --> 00:26:32,119 Speaker 1: The answer is you like the idea of sprinkling a 451 00:26:32,119 --> 00:26:36,200 Speaker 1: little money around, not yours, never yours, somebody else's money 452 00:26:36,680 --> 00:26:38,879 Speaker 1: because companies are so rich they should have to pay it. 453 00:26:39,800 --> 00:26:41,080 Speaker 1: But you don't want them to make more than you. 454 00:26:42,560 --> 00:26:45,840 Speaker 1: This is another thing you find out. People don't want 455 00:26:45,880 --> 00:26:48,440 Speaker 1: other people to make more than they do. They just 456 00:26:48,600 --> 00:26:50,440 Speaker 1: like the idea of being a good hearted person that says, 457 00:26:50,480 --> 00:26:52,280 Speaker 1: I don't want to keep another person down. I like 458 00:26:52,320 --> 00:26:54,720 Speaker 1: them to all make more money. Well, we all would, 459 00:26:55,240 --> 00:26:57,239 Speaker 1: but they're not worth more money. Do you know how 460 00:26:57,280 --> 00:26:59,600 Speaker 1: I know they're not worth more money because they're not 461 00:26:59,640 --> 00:27:04,439 Speaker 1: getting paid that much. You're worth what you're getting paid. 462 00:27:05,480 --> 00:27:08,960 Speaker 1: And this is where we get into people's self awareness. 463 00:27:09,280 --> 00:27:12,960 Speaker 1: I talk true, Michael, I make forty thousand dollars by 464 00:27:13,160 --> 00:27:13,719 Speaker 1: job right now? 465 00:27:15,440 --> 00:27:18,600 Speaker 2: How much are you worth? At least seventy five? Least 466 00:27:18,680 --> 00:27:19,960 Speaker 2: seventy five? All right? 467 00:27:21,800 --> 00:27:25,440 Speaker 1: Then starting tomorrow, start making calls to someone who you 468 00:27:25,600 --> 00:27:27,080 Speaker 1: think can pay you seventy five. 469 00:27:28,960 --> 00:27:32,480 Speaker 2: Well, I ain't nobody out there. So you're worth what 470 00:27:32,680 --> 00:27:33,639 Speaker 2: someone will pay you. 471 00:27:33,880 --> 00:27:37,040 Speaker 1: And you've decided that number is seventy five, but there 472 00:27:37,240 --> 00:27:41,879 Speaker 1: isn't anyone willing to pay you. I don't think you 473 00:27:42,119 --> 00:27:49,200 Speaker 1: understand how this works. You're worth what someone will pay 474 00:27:49,359 --> 00:27:54,840 Speaker 1: you the maximum number. That's what you're worth. Flip side, 475 00:27:55,400 --> 00:27:59,240 Speaker 1: people will say Kirk Cousins isn't worth one hundred and 476 00:27:59,280 --> 00:28:02,359 Speaker 1: eighty million dollars. Damn sure is based on what let 477 00:28:02,440 --> 00:28:05,119 Speaker 1: me let's pull his numbers up. I don't need his numbers. 478 00:28:06,280 --> 00:28:11,280 Speaker 1: He's worth what the Atlanta Falcons would pay him, because 479 00:28:11,280 --> 00:28:13,399 Speaker 1: otherwise they wouldn't pay him. But he ain't worth that. 480 00:28:13,600 --> 00:28:18,080 Speaker 1: You look at his You're not paid as for every 481 00:28:18,119 --> 00:28:21,040 Speaker 1: completion you get eight thousand dollars. That's not how it works. 482 00:28:22,960 --> 00:28:26,400 Speaker 1: You're worth what the person with money says they will 483 00:28:26,480 --> 00:28:30,760 Speaker 1: pay you. You might disagree with how they spend their money. 484 00:28:31,520 --> 00:28:34,879 Speaker 1: That party's true, but you don't understand how this works. 485 00:28:35,119 --> 00:28:40,640 Speaker 1: See if I've got an item that's a collectible and 486 00:28:40,760 --> 00:28:47,360 Speaker 1: I say to you, hey, John, I'll say to this knight, 487 00:28:47,400 --> 00:28:49,000 Speaker 1: I'll say this knife for eight hundred. 488 00:28:48,720 --> 00:28:51,880 Speaker 2: Dollars, and he's just stupid. I'll pay eight hundred dollars 489 00:28:51,880 --> 00:28:55,800 Speaker 2: for a knife. It was Davey Crokett's knife. I don't care. 490 00:28:57,040 --> 00:28:59,320 Speaker 2: All I need a knife for is cutting up tomatoes. 491 00:28:59,560 --> 00:29:02,520 Speaker 2: I don't know. I don't need to pay eight hundred 492 00:29:02,520 --> 00:29:03,120 Speaker 2: dollars for a knife. 493 00:29:03,480 --> 00:29:06,840 Speaker 1: All it does is cut tomatoes to me, But to 494 00:29:07,040 --> 00:29:11,720 Speaker 1: me it has value. My son's named after Davy Crookett. 495 00:29:11,760 --> 00:29:15,560 Speaker 1: Davy Crookett's my hero. It has so much I will 496 00:29:15,680 --> 00:29:19,160 Speaker 1: give you eight hundred. I gave eight hundred dollars for it, 497 00:29:20,040 --> 00:29:22,320 Speaker 1: so you should give me eight hundred. I'm not giving 498 00:29:22,360 --> 00:29:25,440 Speaker 1: you eight hundred. I don't value it the same. So 499 00:29:25,600 --> 00:29:30,560 Speaker 1: what is this knife worth? Now we're making progress. This 500 00:29:30,720 --> 00:29:33,960 Speaker 1: knife is worth what a person is willing to pay 501 00:29:34,080 --> 00:29:38,040 Speaker 1: me for it. To me, the knife is worth eight hundred, 502 00:29:39,480 --> 00:29:41,960 Speaker 1: and as long as I hold on to the knife 503 00:29:42,000 --> 00:29:45,680 Speaker 1: and don't sell it, I can make it worth eight million, 504 00:29:45,960 --> 00:29:49,840 Speaker 1: eight hundred million. The problem is when I get ready 505 00:29:49,880 --> 00:29:52,600 Speaker 1: to try to sell the knife. That's when I'm going 506 00:29:52,640 --> 00:29:54,920 Speaker 1: to be disappointed if nobody wants to buy the knife 507 00:29:54,960 --> 00:30:00,160 Speaker 1: for me. Remember that the value of things is is 508 00:30:00,240 --> 00:30:04,360 Speaker 1: never intrinsic. It is what someone will pay you for it. 509 00:30:05,920 --> 00:30:10,560 Speaker 1: That sounds cold and callous and immoral, but it's true. 510 00:30:12,920 --> 00:30:17,480 Speaker 1: A farmer who never sells his crop and his family 511 00:30:17,600 --> 00:30:22,000 Speaker 1: eats off of it, his crops are worth billions of 512 00:30:22,040 --> 00:30:22,680 Speaker 1: dollars to him. 513 00:30:23,840 --> 00:30:26,360 Speaker 2: He doesn't have billions of dollars, but if he did, 514 00:30:26,640 --> 00:30:27,640 Speaker 2: he might be willing to spend it. 515 00:30:29,080 --> 00:30:32,240 Speaker 1: If we go post apocalyptic and there's no food left, 516 00:30:32,840 --> 00:30:36,360 Speaker 1: then it really would be worth everything. He has. You 517 00:30:36,480 --> 00:30:40,400 Speaker 1: can't assign values to things that you're not personally spending 518 00:30:40,520 --> 00:30:44,360 Speaker 1: your money on. You can't assign values to things that 519 00:30:44,480 --> 00:30:46,960 Speaker 1: you would like to derive that amount of money from 520 00:30:47,000 --> 00:30:54,560 Speaker 1: someone else, but they're not willing to pay. The consummation 521 00:30:55,920 --> 00:31:01,440 Speaker 1: of a transaction is the moment at which value is established. 522 00:31:03,000 --> 00:31:05,760 Speaker 1: If I open a burger joint and I say this 523 00:31:05,920 --> 00:31:08,760 Speaker 1: is Michael Berry's Burgers, and we're gonna sell our burgers 524 00:31:09,760 --> 00:31:13,080 Speaker 1: ten dollars a piece, no fries, no size, no, no 525 00:31:13,320 --> 00:31:17,520 Speaker 1: ten dollars apiece. And on the first day, because I'm 526 00:31:17,520 --> 00:31:19,960 Speaker 1: a good hype man, lots of people show up and 527 00:31:20,000 --> 00:31:24,840 Speaker 1: buy my burger. That's not the price yet, that's the 528 00:31:24,920 --> 00:31:29,880 Speaker 1: price with a built in anticipation kicker. But tomorrow we'll 529 00:31:29,960 --> 00:31:33,040 Speaker 1: know what they're worth because everybody in the town tried 530 00:31:33,080 --> 00:31:36,680 Speaker 1: them today. So tomorrow when everybody comes to comes to 531 00:31:36,800 --> 00:31:41,360 Speaker 1: my restaurant, if they come back and go, whoo, give 532 00:31:41,400 --> 00:31:46,000 Speaker 1: me fifty of those burgers, my immediate thought is my 533 00:31:46,120 --> 00:31:49,760 Speaker 1: burgers are worth ten dollars. They may be worth more, 534 00:31:50,200 --> 00:31:53,160 Speaker 1: but we know I've established ten dollars as a value. 535 00:31:54,680 --> 00:31:59,040 Speaker 1: If nobody comes back, guess what, it's not that my 536 00:31:59,080 --> 00:32:02,240 Speaker 1: burgers worth ten dollar dollars and people are stupid. It's 537 00:32:02,280 --> 00:32:05,840 Speaker 1: that my burger's not worth ten dollars. Now, if I 538 00:32:05,960 --> 00:32:09,040 Speaker 1: drop that ten dollars burger down to one dollar, and 539 00:32:09,080 --> 00:32:13,440 Speaker 1: I mean it's a it's an eight ounce, delicious, really 540 00:32:13,560 --> 00:32:17,360 Speaker 1: good burger, they wouldn't pay ten for it. But I 541 00:32:17,480 --> 00:32:19,440 Speaker 1: make it a dollar, cost me three dollars to make it, 542 00:32:20,320 --> 00:32:23,520 Speaker 1: and I sell out within an hour. That means that 543 00:32:23,600 --> 00:32:28,240 Speaker 1: at a dollar there's a phenomenal demand. At ten dollars, 544 00:32:28,280 --> 00:32:32,600 Speaker 1: there's zero demand. So there's probably somewhere between a dollar 545 00:32:32,680 --> 00:32:38,920 Speaker 1: and ten dollars. Ten dollars that it's worth. Price is 546 00:32:39,040 --> 00:32:45,600 Speaker 1: how the market communicates without ever using words. At ten dollars, 547 00:32:45,720 --> 00:32:49,120 Speaker 1: the market told me your product is not that good. 548 00:32:49,920 --> 00:32:53,239 Speaker 1: At one dollar, the product, the market told me your 549 00:32:53,320 --> 00:32:56,080 Speaker 1: product is worth way more than a dollar. So I've 550 00:32:56,160 --> 00:32:58,960 Speaker 1: got to find that rate at which the public will 551 00:32:59,000 --> 00:33:00,960 Speaker 1: buy it and I will sell it. Then I'm happy 552 00:33:01,040 --> 00:33:04,320 Speaker 1: with the profit, and I sell as much as possible 553 00:33:04,440 --> 00:33:09,680 Speaker 1: and maximize my government. This is what collapsed the Soviet economy. 554 00:33:10,640 --> 00:33:12,840 Speaker 1: By the way, none of these are my ideas, none 555 00:33:12,880 --> 00:33:16,600 Speaker 1: of them. They're all Thomas Soul, they're all Milton Freedom 556 00:33:17,080 --> 00:33:20,960 Speaker 1: Thomas Soul Basic economics. These are the basic laws of economics. 557 00:33:21,240 --> 00:33:23,600 Speaker 1: I didn't come up with any of them. They existed. 558 00:33:24,640 --> 00:33:27,960 Speaker 1: They've existed from the beginning of time. They are as 559 00:33:28,120 --> 00:33:32,680 Speaker 1: real as gravity. They're not just ideas. But when government 560 00:33:32,720 --> 00:33:34,960 Speaker 1: gets involved and starts saying you can't do that, you 561 00:33:35,040 --> 00:33:38,000 Speaker 1: must do this, and you can't charge that, that's when 562 00:33:38,080 --> 00:33:38,920 Speaker 1: these laws. 563 00:33:40,000 --> 00:33:42,800 Speaker 2: That's when they begin to fray. That's when they break down. 564 00:33:43,360 --> 00:33:46,920 Speaker 2: That's when they create noise in the market. See you 565 00:33:46,960 --> 00:33:47,400 Speaker 2: back tomorrow.