1 00:00:00,200 --> 00:00:02,800 Speaker 1: Up next The Truth with Lisa both part of the Game, 2 00:00:02,840 --> 00:00:08,680 Speaker 1: which research government lockdowns decimated small businesses during the pandemic, 3 00:00:09,320 --> 00:00:13,240 Speaker 1: destroying the livelihoods of millions of Americans. Many of these 4 00:00:13,240 --> 00:00:16,360 Speaker 1: hard working men and women still have not recovered, and 5 00:00:16,400 --> 00:00:19,040 Speaker 1: none of them are at fault. The blame lives with 6 00:00:19,120 --> 00:00:23,079 Speaker 1: politicians and their bureaucratic goons who arbitrarily deemed some workers 7 00:00:23,200 --> 00:00:27,920 Speaker 1: essential and others expendable. Today I expose the government's war 8 00:00:28,000 --> 00:00:31,560 Speaker 1: in the backboat of America and how COVID escalated a 9 00:00:31,600 --> 00:00:34,640 Speaker 1: problem that's been ongoing for years. This is The Truth 10 00:00:34,920 --> 00:00:47,400 Speaker 1: with Lisa Booth. Ye, welcome back to The Truth with 11 00:00:47,520 --> 00:00:50,519 Speaker 1: Lisa Booth. I'm Lisa Booths, and this week we're covering 12 00:00:50,520 --> 00:00:53,480 Speaker 1: a topic that too many Americans are familiar with, how 13 00:00:53,560 --> 00:00:57,120 Speaker 1: small businesses in the middle class have suffered under government lockdowns. 14 00:00:57,440 --> 00:01:00,240 Speaker 1: Too often, leaders in government believe that they have a 15 00:01:00,360 --> 00:01:03,960 Speaker 1: godlike capacity to make brilliant decisions for the stupid masses. 16 00:01:04,200 --> 00:01:06,959 Speaker 1: They think they're superior to you, to me, both morally 17 00:01:06,959 --> 00:01:09,959 Speaker 1: and intellectually, even though their job is to serve us 18 00:01:10,000 --> 00:01:13,960 Speaker 1: the people. Remember we're their boss. Now. With the coronavirus, 19 00:01:14,000 --> 00:01:17,560 Speaker 1: politicians and bureaucrats. We saw them grab power in shocking 20 00:01:17,640 --> 00:01:21,520 Speaker 1: and unprecedented ways, and with that power, they picked winners 21 00:01:22,240 --> 00:01:26,000 Speaker 1: and they picked losers, deciding which businesses they liked and 22 00:01:26,040 --> 00:01:28,680 Speaker 1: which ones they disliked, which workers were essential, and which 23 00:01:28,720 --> 00:01:32,000 Speaker 1: ones were expendable. And what came next was devastation. The 24 00:01:32,040 --> 00:01:34,959 Speaker 1: government imposed lockdowns across the country in the name of 25 00:01:35,040 --> 00:01:40,240 Speaker 1: fighting the pandemic. Small businesses struggled to survive, and tragically, 26 00:01:40,280 --> 00:01:42,720 Speaker 1: many of those didn't. Many people lost the ability to 27 00:01:42,760 --> 00:01:44,640 Speaker 1: put a roof over their kids heads or to feed 28 00:01:44,680 --> 00:01:47,000 Speaker 1: their family. And those that did. Many of the businesses 29 00:01:47,000 --> 00:01:48,840 Speaker 1: that stayed open or were able to stay open, a 30 00:01:48,880 --> 00:01:51,920 Speaker 1: lot of them had to layoff employees. Millions of Americans 31 00:01:51,920 --> 00:01:54,760 Speaker 1: have suffered, and many of them in their businesses still 32 00:01:54,760 --> 00:01:58,600 Speaker 1: have not recovered. To really understand what happened and where 33 00:01:58,640 --> 00:02:01,200 Speaker 1: we should go from here, I want to bring on 34 00:02:01,280 --> 00:02:04,000 Speaker 1: Carol Roth to the show to discuss this assault on 35 00:02:04,080 --> 00:02:08,320 Speaker 1: small businesses and the middle class. She's an entrepreneur and investor, 36 00:02:08,360 --> 00:02:12,200 Speaker 1: a best selling author, and a TV personality. She's also 37 00:02:12,200 --> 00:02:15,520 Speaker 1: a self described recovering investment banker, and she has a 38 00:02:15,600 --> 00:02:18,679 Speaker 1: really important new book that is out titled The War 39 00:02:18,760 --> 00:02:22,040 Speaker 1: on small business how the government used the pandemic to 40 00:02:22,160 --> 00:02:25,920 Speaker 1: crush the backbone of America. I'm pleased to welcome Carol 41 00:02:26,000 --> 00:02:28,640 Speaker 1: Roth to the show. Uh, this is a conversation that 42 00:02:28,720 --> 00:02:32,440 Speaker 1: needs to happen. You know, Carol, what what really interested you? 43 00:02:32,440 --> 00:02:34,200 Speaker 1: You know, why? Why did you want to write this book? 44 00:02:35,800 --> 00:02:38,920 Speaker 1: So I've been a long time small business advocate. I 45 00:02:38,919 --> 00:02:41,760 Speaker 1: wrote a book ten years ago about how hard it 46 00:02:41,840 --> 00:02:44,840 Speaker 1: is to be a small business owner and all the risks, 47 00:02:44,880 --> 00:02:47,160 Speaker 1: and I never really thought the number one risk was 48 00:02:47,200 --> 00:02:49,720 Speaker 1: going to be the federal government coming in and shutting 49 00:02:49,760 --> 00:02:52,920 Speaker 1: you down by mandate. Um. So I was actually approached 50 00:02:53,120 --> 00:02:57,560 Speaker 1: very early in the pandemic by HarperCollins, who wanted a 51 00:02:57,560 --> 00:03:01,119 Speaker 1: real kind of in depth economic take on what was 52 00:03:01,400 --> 00:03:05,880 Speaker 1: clearly going to be historic. And as I watched this unfold, 53 00:03:06,400 --> 00:03:08,400 Speaker 1: I kind of wrote three and a half different books 54 00:03:08,400 --> 00:03:11,120 Speaker 1: to be perfectly honest, and it ended up at like 55 00:03:11,160 --> 00:03:13,440 Speaker 1: a hundred and sixty thousand words and they're like, no, 56 00:03:13,520 --> 00:03:16,520 Speaker 1: you need to call that back. But the through line 57 00:03:16,560 --> 00:03:20,600 Speaker 1: through all of it was really how small businesses who 58 00:03:20,680 --> 00:03:23,960 Speaker 1: are the backbone of the economy, and that that's just 59 00:03:24,040 --> 00:03:26,920 Speaker 1: not not just a moniker. They're nine point nine percent 60 00:03:27,200 --> 00:03:30,639 Speaker 1: of all business entities, they're about half the GDP, they're 61 00:03:30,639 --> 00:03:34,080 Speaker 1: about half the jobs. So so this foundation of the 62 00:03:34,160 --> 00:03:39,440 Speaker 1: economy got completely screwed over, and winners and losers were picked, 63 00:03:39,800 --> 00:03:43,360 Speaker 1: and they were picked not based on data and science, 64 00:03:43,400 --> 00:03:46,040 Speaker 1: but the government picked those winners and losers, who was 65 00:03:46,040 --> 00:03:48,920 Speaker 1: going to thrive, who was going to fight to survive, 66 00:03:49,360 --> 00:03:53,680 Speaker 1: based on political clout and connections, and then use that 67 00:03:53,760 --> 00:03:57,880 Speaker 1: to enable the most historic wealth transfer that we've seen 68 00:03:57,880 --> 00:04:00,240 Speaker 1: in our lifetime. So that seemed like a pretty big 69 00:04:00,280 --> 00:04:04,720 Speaker 1: story to me. Um And I'm actually flabbergasted that nobody 70 00:04:04,760 --> 00:04:07,720 Speaker 1: else seems to be talking about it. Why don't people 71 00:04:07,760 --> 00:04:11,280 Speaker 1: care more? You know? I think the people look at 72 00:04:11,320 --> 00:04:16,919 Speaker 1: the macro headlines and it looks like the economy is recovering. 73 00:04:16,920 --> 00:04:19,680 Speaker 1: It looks like things are doing great, But they don't 74 00:04:19,720 --> 00:04:23,000 Speaker 1: realize if you kind of peeled back the onion, what 75 00:04:23,080 --> 00:04:27,280 Speaker 1: that looks like. They don't realize that four hundred thousands 76 00:04:27,320 --> 00:04:30,880 Speaker 1: small businesses had closed permanently by June of last year. 77 00:04:30,920 --> 00:04:33,640 Speaker 1: We don't even have a good updated number. We know 78 00:04:33,720 --> 00:04:38,320 Speaker 1: that millions more are struggling to survive. They don't realize 79 00:04:38,640 --> 00:04:43,160 Speaker 1: that the people who patronize those businesses transferred those dollars 80 00:04:43,200 --> 00:04:47,480 Speaker 1: to big companies like Amazon, like Walmart, like Target. They 81 00:04:47,480 --> 00:04:51,560 Speaker 1: had record revenue. They don't understand the federal Reserve, which 82 00:04:51,640 --> 00:04:54,479 Speaker 1: is opaque by design, and the fact that they put 83 00:04:54,560 --> 00:04:58,279 Speaker 1: eight trillion dollars on their balance sheet and forced interest 84 00:04:58,360 --> 00:05:01,320 Speaker 1: rates down back to zero, and how with all of 85 00:05:01,320 --> 00:05:05,920 Speaker 1: these things that enabled sex seven technology companies to increase 86 00:05:06,000 --> 00:05:09,240 Speaker 1: by three point for trillion dollars in value last year, 87 00:05:09,560 --> 00:05:12,039 Speaker 1: and that it was a record year for initial public 88 00:05:12,120 --> 00:05:15,760 Speaker 1: offerings and special purpose acquisition companies in terms of the 89 00:05:15,760 --> 00:05:18,279 Speaker 1: amount of money that they raised. So I think that 90 00:05:18,400 --> 00:05:22,480 Speaker 1: because the financial aspect of it is so opaque, and 91 00:05:22,520 --> 00:05:26,039 Speaker 1: you have so many media cheerleaders who are running running 92 00:05:26,040 --> 00:05:30,240 Speaker 1: interference for for politicians, and you look at the headlines 93 00:05:30,279 --> 00:05:31,960 Speaker 1: and it's it's easy to say, oh, like oh, it 94 00:05:31,960 --> 00:05:35,240 Speaker 1: sounds like things are are getting back in order, and 95 00:05:35,279 --> 00:05:38,880 Speaker 1: they don't realize that this huge transfer of wealth from 96 00:05:39,000 --> 00:05:42,120 Speaker 1: main street to wall streets happened and really this is 97 00:05:42,240 --> 00:05:46,760 Speaker 1: clamping down on economic freedom and wealth creation opportunities. Well, 98 00:05:46,760 --> 00:05:49,960 Speaker 1: and you had mentioned so pre pandemic small businesses accounted 99 00:05:50,000 --> 00:05:52,440 Speaker 1: for you know, half of the GDP and half of 100 00:05:52,480 --> 00:05:54,600 Speaker 1: the employment in the country. What does that look like 101 00:05:54,720 --> 00:05:57,560 Speaker 1: now and what's the broader impact of that. Yeah, it's 102 00:05:57,560 --> 00:06:00,280 Speaker 1: a it's a really good question. Um, we know on 103 00:06:00,440 --> 00:06:04,200 Speaker 1: the employment front that one of the things that happened 104 00:06:04,360 --> 00:06:07,279 Speaker 1: in terms of the design of you know, how the 105 00:06:07,360 --> 00:06:10,479 Speaker 1: government was going to quote unquote care for you from 106 00:06:10,520 --> 00:06:13,480 Speaker 1: you know, the mandates that they created, is that they 107 00:06:13,480 --> 00:06:16,040 Speaker 1: did a lot of things that made it very difficult 108 00:06:16,440 --> 00:06:18,960 Speaker 1: for people to go want to go back into the workforce. 109 00:06:19,040 --> 00:06:22,320 Speaker 1: One of the things is this enhanced unemployment benefits, So 110 00:06:22,480 --> 00:06:25,360 Speaker 1: not the money that your employer or in some states, 111 00:06:25,480 --> 00:06:28,120 Speaker 1: you pay in out of each check for unemployment, but 112 00:06:28,200 --> 00:06:31,680 Speaker 1: on top of that, they gave you a bonus for 113 00:06:31,800 --> 00:06:35,719 Speaker 1: being unemployed, obviously decreasing the incentives they want to go 114 00:06:35,760 --> 00:06:39,560 Speaker 1: back to work. They sent out stimulus checks, not necessarily 115 00:06:39,600 --> 00:06:43,279 Speaker 1: based on your current need, but based on some arbitrary 116 00:06:43,360 --> 00:06:47,159 Speaker 1: number from a previous year. They shuttered school, so if 117 00:06:47,200 --> 00:06:49,839 Speaker 1: if you were a parent that had kids, you know, 118 00:06:49,839 --> 00:06:51,560 Speaker 1: you couldn't get your kids back in school, you might 119 00:06:51,560 --> 00:06:53,240 Speaker 1: not have been able to go back to work. So 120 00:06:53,440 --> 00:06:58,080 Speaker 1: they the government basically is now competing with small businesses 121 00:06:58,920 --> 00:07:03,120 Speaker 1: for employees. And we have nine point three million jobs 122 00:07:03,120 --> 00:07:07,480 Speaker 1: in this country. That businesses can't fill. And that's very 123 00:07:07,560 --> 00:07:11,760 Speaker 1: much being shouldered um by the small business community who 124 00:07:11,800 --> 00:07:16,680 Speaker 1: are raising wages, offering signing bonuses, doing whatever they can, 125 00:07:16,760 --> 00:07:20,600 Speaker 1: and they still can't get people to come back, um 126 00:07:20,640 --> 00:07:23,120 Speaker 1: into employment. As far as you know what they're going 127 00:07:23,160 --> 00:07:25,120 Speaker 1: to make up of the g DP, we don't have 128 00:07:25,720 --> 00:07:30,120 Speaker 1: those numbers yet, but um there is a project called 129 00:07:30,120 --> 00:07:34,160 Speaker 1: Opportunity Insights that's run in conjunction with Harvard that said 130 00:07:34,240 --> 00:07:38,880 Speaker 1: something like almost of the small businesses had been closed. Now, 131 00:07:39,240 --> 00:07:42,440 Speaker 1: knowing the numbers like I do, I don't think that's 132 00:07:42,480 --> 00:07:45,160 Speaker 1: of the thirty point two million small businesses, but it 133 00:07:45,160 --> 00:07:48,200 Speaker 1: could be of the six million employer businesses. So even 134 00:07:48,240 --> 00:07:51,920 Speaker 1: if it's you know, two million businesses that are permanently 135 00:07:51,960 --> 00:07:54,760 Speaker 1: closed and not contributing to the GDP and that money 136 00:07:54,840 --> 00:07:57,800 Speaker 1: is going to the big businesses, that's a huge shift 137 00:07:58,120 --> 00:08:00,680 Speaker 1: from main street to all streets well and ufortunately you know, 138 00:08:00,720 --> 00:08:02,880 Speaker 1: we live in a society where sometimes people can be 139 00:08:03,000 --> 00:08:05,600 Speaker 1: you know, sort of inherently selfish. If it doesn't impact them, 140 00:08:05,640 --> 00:08:07,560 Speaker 1: they don't really care. So for the folks, you know, 141 00:08:07,640 --> 00:08:09,880 Speaker 1: let's say someone doesn't know a small business owner, they 142 00:08:09,880 --> 00:08:11,840 Speaker 1: don't have a family member that's a small business owner. 143 00:08:11,840 --> 00:08:14,480 Speaker 1: They don't feel like they should care about this issue. 144 00:08:14,800 --> 00:08:17,200 Speaker 1: Why should they care? Why does this impact their life? 145 00:08:17,200 --> 00:08:19,320 Speaker 1: Why does this impact the economy, Why does this impact 146 00:08:19,360 --> 00:08:22,480 Speaker 1: the country. Yeah, it goes back to this bigger battle 147 00:08:22,600 --> 00:08:27,000 Speaker 1: that we're seeing play out between the centralization and central power. 148 00:08:27,640 --> 00:08:29,480 Speaker 1: And you know, it used to be we were much 149 00:08:29,560 --> 00:08:34,360 Speaker 1: closer to a free market system and free market capitalism, 150 00:08:34,400 --> 00:08:37,439 Speaker 1: despite what some people think, just basically means freedom and 151 00:08:37,559 --> 00:08:41,599 Speaker 1: choice and transparency and a level playing field where the 152 00:08:41,640 --> 00:08:45,439 Speaker 1: government is just protecting your individual rights and your property rights. 153 00:08:45,960 --> 00:08:49,760 Speaker 1: And unfortunately, central planning is a couple of people making 154 00:08:49,800 --> 00:08:52,320 Speaker 1: the decisions on behalf of everyone and using force and 155 00:08:52,360 --> 00:08:57,160 Speaker 1: coercion and control. And we've been moving along that spectrum. 156 00:08:57,240 --> 00:09:00,520 Speaker 1: If you think about the economy and those two half, 157 00:09:00,559 --> 00:09:04,200 Speaker 1: you have half the economy that is the small businesses. 158 00:09:04,320 --> 00:09:08,280 Speaker 1: As I said pre COVID thirty point two million. They're decentralized, 159 00:09:08,360 --> 00:09:12,520 Speaker 1: they're independent, there is no concentration of power. Uh, they're 160 00:09:12,640 --> 00:09:15,920 Speaker 1: very difficult to control, which is very good um and 161 00:09:15,960 --> 00:09:19,000 Speaker 1: that creates economic freedom and wealth creation opportunities for a 162 00:09:19,000 --> 00:09:22,120 Speaker 1: broad set of people. The other half the economy is 163 00:09:22,160 --> 00:09:26,240 Speaker 1: like ten to fifteen thousand big companies. And as you 164 00:09:26,240 --> 00:09:28,800 Speaker 1: can imagine, if you're a politician and you're trying to 165 00:09:28,800 --> 00:09:32,559 Speaker 1: consolidate power, who is it easier to align with and 166 00:09:32,559 --> 00:09:35,559 Speaker 1: and get and you know, get in your pockets and 167 00:09:35,559 --> 00:09:38,400 Speaker 1: have them make contributions and and you know, kind of 168 00:09:38,440 --> 00:09:42,280 Speaker 1: being a coalition with the handful of big businesses or 169 00:09:42,320 --> 00:09:45,360 Speaker 1: the thirty point two million small businesses. So if you 170 00:09:45,480 --> 00:09:49,520 Speaker 1: don't want there to be more centralized power, and uh, 171 00:09:49,559 --> 00:09:51,160 Speaker 1: you know, I imagine in terms of all the things 172 00:09:51,160 --> 00:09:53,679 Speaker 1: that you discussed about the size of the government, the 173 00:09:53,720 --> 00:09:55,640 Speaker 1: amount that they spend, the laws, you know, all those 174 00:09:55,720 --> 00:09:58,760 Speaker 1: kinds of things, you should not want the government to 175 00:09:58,880 --> 00:10:01,760 Speaker 1: be doing more things than have more power. If you 176 00:10:01,760 --> 00:10:05,880 Speaker 1: start getting rid of this the centralized portion of the economy, 177 00:10:06,240 --> 00:10:09,640 Speaker 1: it just makes that central portion larger and bigger and 178 00:10:09,679 --> 00:10:13,679 Speaker 1: harder to combat. And it's it's basically slides us across 179 00:10:13,760 --> 00:10:18,400 Speaker 1: that scale closer to socialism. And that's something that should 180 00:10:18,400 --> 00:10:20,960 Speaker 1: scare everybody. Well, I think that's a great point, you know, 181 00:10:20,960 --> 00:10:23,880 Speaker 1: and you talked about the enhanced unemployment benefits and you 182 00:10:23,920 --> 00:10:27,120 Speaker 1: had mentioned socialism just now. I mean, we've essentially created 183 00:10:27,400 --> 00:10:30,160 Speaker 1: a you know, a country that is dependent on the 184 00:10:30,160 --> 00:10:32,920 Speaker 1: federal government on a scale that you know, maybe we 185 00:10:32,559 --> 00:10:35,600 Speaker 1: we we never have before in history, and so you're right, 186 00:10:35,640 --> 00:10:38,959 Speaker 1: that does move us closer to a socialist type country 187 00:10:38,960 --> 00:10:41,960 Speaker 1: where we're we're consolidating power at the top with the 188 00:10:41,960 --> 00:10:45,440 Speaker 1: big corporations and you know, big government as well. And 189 00:10:45,600 --> 00:10:47,640 Speaker 1: do you think that is why? I mean, lately we've 190 00:10:47,640 --> 00:10:51,000 Speaker 1: seen corporations insert themselves in more and more things, more 191 00:10:51,000 --> 00:10:54,520 Speaker 1: and more issues, for instance, going after Georgia over their 192 00:10:54,600 --> 00:10:57,079 Speaker 1: voting law. Do you think that correlates to what we've 193 00:10:57,080 --> 00:10:59,679 Speaker 1: seen over the past year as big businesses has been 194 00:10:59,720 --> 00:11:03,040 Speaker 1: allowed to grow at the expense of small business. The 195 00:11:03,080 --> 00:11:06,320 Speaker 1: fact that they're involved in everything, whether it is, like 196 00:11:06,360 --> 00:11:10,320 Speaker 1: you said, voting laws, whether it's Mark Zuckerberg standing up 197 00:11:10,320 --> 00:11:12,520 Speaker 1: and saying I think you need to regulate the tech 198 00:11:12,600 --> 00:11:17,600 Speaker 1: companies Jeff Bezos and Amazon coming out and pushing for 199 00:11:17,640 --> 00:11:21,000 Speaker 1: a higher minimum wage. They're doing all of these things 200 00:11:21,080 --> 00:11:25,040 Speaker 1: because they know that it helps with that consolidation of power, 201 00:11:25,559 --> 00:11:29,120 Speaker 1: and in some cases it's anti competitive to small business 202 00:11:29,160 --> 00:11:32,200 Speaker 1: because we all think raining in the big guys is 203 00:11:32,280 --> 00:11:33,880 Speaker 1: going to be a good thing and it's going to 204 00:11:33,960 --> 00:11:37,360 Speaker 1: help the little guys. That's the excuse they use every 205 00:11:37,400 --> 00:11:40,120 Speaker 1: single time, and it's just not true. I mean, if 206 00:11:40,120 --> 00:11:44,400 Speaker 1: we go back to the Great Recession financial crisis, the 207 00:11:44,480 --> 00:11:49,400 Speaker 1: banks did some things that were very, very risky. They 208 00:11:49,840 --> 00:11:52,920 Speaker 1: didn't work out. It ended up taking down the entire 209 00:11:53,000 --> 00:11:56,319 Speaker 1: economy and affecting all of our lives. And they were 210 00:11:56,360 --> 00:11:59,720 Speaker 1: told they were too big to fail. They got taxpair 211 00:11:59,800 --> 00:12:02,280 Speaker 1: my me. But you know, we're going to slap them 212 00:12:02,320 --> 00:12:04,480 Speaker 1: on the wrist and we're gonna regulate them, and that's 213 00:12:04,480 --> 00:12:06,600 Speaker 1: going to raid them in. And so we came up 214 00:12:06,920 --> 00:12:10,960 Speaker 1: with this owner usk set of laws called Dodd Frank. Well, 215 00:12:11,000 --> 00:12:13,200 Speaker 1: what was the outcome of DoD Frank As I lay 216 00:12:13,200 --> 00:12:16,800 Speaker 1: out in the book, it ended up being so expensive 217 00:12:16,840 --> 00:12:21,000 Speaker 1: and so difficult to comply with that it decreased the 218 00:12:21,120 --> 00:12:24,440 Speaker 1: number of starts of small community banks from like a 219 00:12:24,520 --> 00:12:27,400 Speaker 1: hundred a year to three to put a bunch of 220 00:12:27,440 --> 00:12:32,400 Speaker 1: small business banks out of business. And as you can imagine, 221 00:12:32,400 --> 00:12:35,920 Speaker 1: the smaller banks that have less assets under management are 222 00:12:35,920 --> 00:12:38,760 Speaker 1: the ones who are lending too small businesses. So small 223 00:12:38,800 --> 00:12:42,120 Speaker 1: business lendings fell off a cliff. At the same time, 224 00:12:42,160 --> 00:12:46,040 Speaker 1: because there was less competition from small companies, you had 225 00:12:46,080 --> 00:12:50,200 Speaker 1: these big banks that grew even more and they increased 226 00:12:50,200 --> 00:12:53,480 Speaker 1: the lending to big companies. So we have this legislation 227 00:12:53,559 --> 00:12:55,720 Speaker 1: that was supposed to reign in these big banks that 228 00:12:55,800 --> 00:12:58,319 Speaker 1: did bad things, and all it did was give them 229 00:12:58,360 --> 00:13:00,800 Speaker 1: free reign and end up hurting some all business more. 230 00:13:01,200 --> 00:13:04,720 Speaker 1: And so you know, it's very tempting to say, oh, 231 00:13:04,880 --> 00:13:07,559 Speaker 1: we're gonna we're gonna use the government to to go 232 00:13:07,679 --> 00:13:10,800 Speaker 1: after these big guys. They're all in it together, they're 233 00:13:10,840 --> 00:13:14,400 Speaker 1: all on the same side. So how do we rain 234 00:13:14,480 --> 00:13:17,760 Speaker 1: them in? Yeah, I mean this is the like multi 235 00:13:17,880 --> 00:13:21,560 Speaker 1: trillion dollar question. I mean, we need to move back 236 00:13:21,600 --> 00:13:25,120 Speaker 1: along the spectrum closer to a free market, and we 237 00:13:25,160 --> 00:13:29,680 Speaker 1: need to tear down the purview of the government, um, 238 00:13:29,760 --> 00:13:32,360 Speaker 1: which is obviously not an easy thing to do. And 239 00:13:32,400 --> 00:13:35,240 Speaker 1: it's interesting a lot of um you know, the folks 240 00:13:35,280 --> 00:13:38,320 Speaker 1: who back different ideas, they tend to back a candidate 241 00:13:38,360 --> 00:13:40,840 Speaker 1: and think that like getting their guy or their gal 242 00:13:40,920 --> 00:13:43,120 Speaker 1: in the system is all of a sudden going to 243 00:13:43,160 --> 00:13:47,480 Speaker 1: shift everything. But this is so systemically broken. Um, I 244 00:13:47,520 --> 00:13:50,960 Speaker 1: think we need to do more suing. Frankly of the government. 245 00:13:51,160 --> 00:13:53,280 Speaker 1: I mean, they have put so many laws in place, 246 00:13:53,320 --> 00:13:58,079 Speaker 1: they've done so many things that have overstepped their constitutional boundaries. 247 00:13:58,360 --> 00:14:00,720 Speaker 1: And think about you know what happened with COVID. You 248 00:14:00,720 --> 00:14:04,880 Speaker 1: you subjugated property rights of small business owners for the 249 00:14:04,880 --> 00:14:08,280 Speaker 1: good of society, and you didn't give them appropriate compensation. 250 00:14:08,520 --> 00:14:11,000 Speaker 1: Eminent Domain says, if you're going to take their property, 251 00:14:11,080 --> 00:14:14,000 Speaker 1: you owe them to do compensation. So I think we 252 00:14:14,080 --> 00:14:17,880 Speaker 1: need to start challenging these things and courts because a 253 00:14:17,960 --> 00:14:21,080 Speaker 1: tiny fraction of a fraction of a percent of all 254 00:14:21,200 --> 00:14:24,520 Speaker 1: the laws see challenges. And I think if we start 255 00:14:24,560 --> 00:14:27,640 Speaker 1: to strip away those rights, obviously that in and of 256 00:14:27,680 --> 00:14:31,040 Speaker 1: itself will help to reduce the size of the government, 257 00:14:31,640 --> 00:14:35,680 Speaker 1: but will also perhaps keep some future politicians from going 258 00:14:35,680 --> 00:14:38,120 Speaker 1: down that road, knowing that you know that's going to 259 00:14:38,240 --> 00:14:41,240 Speaker 1: ultimately be challenged and be a no go. But we 260 00:14:41,360 --> 00:14:45,600 Speaker 1: have been too complacent as individuals. I mean the fact 261 00:14:45,640 --> 00:14:49,960 Speaker 1: that small business owners even agreed to these lockdowns effect 262 00:14:50,240 --> 00:14:54,960 Speaker 1: that so many Americans agreed to these mandates. Um. You know, 263 00:14:55,320 --> 00:14:59,040 Speaker 1: these weren't laws, they were mandates, and they agreed and 264 00:14:59,120 --> 00:15:02,120 Speaker 1: just said, Okay, well we're going to do this. Um. 265 00:15:02,200 --> 00:15:05,880 Speaker 1: You know that's not us. We have to actively preserve 266 00:15:06,000 --> 00:15:09,840 Speaker 1: our freedom. So on the small business side, you educate yourself, 267 00:15:09,840 --> 00:15:13,560 Speaker 1: you understand these things, um, and then that helps to 268 00:15:13,560 --> 00:15:15,920 Speaker 1: take action. And I think you know another thing that 269 00:15:16,000 --> 00:15:17,880 Speaker 1: I lay out in the book that's really important that 270 00:15:17,920 --> 00:15:20,600 Speaker 1: needs to be reined in, which could probably be done 271 00:15:20,640 --> 00:15:25,640 Speaker 1: through Congress, is reigning in the federal reserve. How how 272 00:15:25,680 --> 00:15:29,600 Speaker 1: can a small business compete against the Amazons of the world. 273 00:15:30,720 --> 00:15:33,600 Speaker 1: So it depends if you're talking about in a free 274 00:15:33,640 --> 00:15:37,240 Speaker 1: market or with the help of the government, to the 275 00:15:37,280 --> 00:15:40,800 Speaker 1: government giving Amazon special favors. Because if you remember when 276 00:15:40,840 --> 00:15:44,880 Speaker 1: Amazon was going to move their headquarters a couple of 277 00:15:44,960 --> 00:15:48,080 Speaker 1: years ago, they ran around and they did this beauty pageant, right, 278 00:15:48,200 --> 00:15:51,040 Speaker 1: So they're showing up in all these different locations and 279 00:15:51,080 --> 00:15:52,800 Speaker 1: they're saying, okay, well, if we moved to your city, 280 00:15:52,880 --> 00:15:54,680 Speaker 1: like what will you give us, Well, give us your 281 00:15:54,720 --> 00:15:57,680 Speaker 1: firstborn child, will you give us, you know, naming rights. 282 00:15:57,720 --> 00:16:02,160 Speaker 1: It's like The Bachelor or something exactly exactly. So they're 283 00:16:02,160 --> 00:16:04,240 Speaker 1: doing all these things, and of course they ended up 284 00:16:04,280 --> 00:16:07,640 Speaker 1: going with the places that they were planning to go anyway, 285 00:16:07,680 --> 00:16:10,600 Speaker 1: but they use that to extract editional benefits, like if 286 00:16:10,680 --> 00:16:13,240 Speaker 1: I'm going to go open up a pizza parlor somewhere, 287 00:16:13,320 --> 00:16:14,800 Speaker 1: or at least so you're gonna go open up a 288 00:16:14,840 --> 00:16:17,960 Speaker 1: cup kick shop, like nobody's getting us naming rights, like 289 00:16:18,000 --> 00:16:20,080 Speaker 1: we probably can't even get somebody to return our call. 290 00:16:20,480 --> 00:16:23,120 Speaker 1: We're gonna get all, you know, these these licenses that 291 00:16:23,200 --> 00:16:25,360 Speaker 1: we have to get an insurance, that have to jump 292 00:16:25,360 --> 00:16:27,520 Speaker 1: through a bunch of hoops, and nobody's going to be 293 00:16:27,560 --> 00:16:30,560 Speaker 1: there to help us. So it's that kind of stuff 294 00:16:30,880 --> 00:16:34,120 Speaker 1: that tilts the field and it makes it almost impossible 295 00:16:34,160 --> 00:16:36,640 Speaker 1: for a small business to compete in terms of you know, 296 00:16:36,720 --> 00:16:39,560 Speaker 1: if you took those away, and it's just free market competition. 297 00:16:40,360 --> 00:16:42,960 Speaker 1: As a small business, one of the biggest things that 298 00:16:43,000 --> 00:16:46,360 Speaker 1: you have is the personal relationship with the customer, and 299 00:16:46,480 --> 00:16:52,160 Speaker 1: building loyalty isn't transactional, right, It's based on relationships, and 300 00:16:52,240 --> 00:16:56,360 Speaker 1: so small businesses do have certain areas where they can 301 00:16:56,440 --> 00:16:59,920 Speaker 1: really outshine the big companies because they have the upper 302 00:17:00,000 --> 00:17:04,280 Speaker 1: ttunity to generate those personal relationships with customers, which are 303 00:17:04,359 --> 00:17:08,639 Speaker 1: incredibly meaningful. UM. But eventually, you know, if you have 304 00:17:08,760 --> 00:17:12,720 Speaker 1: to contend with all of these other governmental issues, that 305 00:17:12,840 --> 00:17:16,399 Speaker 1: affects your pricing, UM, that affects your cost of employees, 306 00:17:16,480 --> 00:17:19,600 Speaker 1: that affects your ability to even open a business, that 307 00:17:19,840 --> 00:17:23,360 Speaker 1: affects your building, your ability to be deemed essential. Um. 308 00:17:23,800 --> 00:17:27,360 Speaker 1: That's that's a no win situation. And so that's why 309 00:17:27,400 --> 00:17:30,920 Speaker 1: we have to get the government out of the interference 310 00:17:30,920 --> 00:17:32,880 Speaker 1: in the market, Carol, we have to take a quick 311 00:17:32,880 --> 00:17:38,000 Speaker 1: break back on the other side. One thing a lot 312 00:17:38,000 --> 00:17:41,080 Speaker 1: of conservatives are sort of grappling with right now is 313 00:17:41,240 --> 00:17:43,120 Speaker 1: you know, you look at Google, you look at Amazon, 314 00:17:43,280 --> 00:17:45,840 Speaker 1: you look at big Tech. I mean, they're just so big. 315 00:17:45,880 --> 00:17:48,199 Speaker 1: They have grown in size and scope. They've grown over 316 00:17:48,240 --> 00:17:50,639 Speaker 1: the past year as we're discussing right now at the 317 00:17:50,680 --> 00:17:54,439 Speaker 1: expensive small business. So I mean it's almost you know, 318 00:17:54,480 --> 00:17:56,800 Speaker 1: the question is, really, are are they too big for 319 00:17:56,880 --> 00:17:59,119 Speaker 1: the free market to you know, work itself out like 320 00:17:59,359 --> 00:18:02,480 Speaker 1: they've they've has gotten too too big for that. You know. 321 00:18:02,560 --> 00:18:05,320 Speaker 1: So if you go back in history and you look 322 00:18:05,760 --> 00:18:09,679 Speaker 1: at any point in time, there's always some companies that 323 00:18:09,720 --> 00:18:14,119 Speaker 1: were deemed too big, and most of them have gone 324 00:18:14,440 --> 00:18:17,760 Speaker 1: out of business or been replaced. Um. If you look 325 00:18:17,800 --> 00:18:21,240 Speaker 1: at the Dow Jones companies, I think there's just a 326 00:18:21,320 --> 00:18:24,479 Speaker 1: handful maybe like three of them that were there, you know, 327 00:18:25,320 --> 00:18:29,480 Speaker 1: fifty plus years ago. So you know, there is this 328 00:18:29,640 --> 00:18:34,880 Speaker 1: natural change over in business that's allowed to happen. But 329 00:18:34,960 --> 00:18:39,840 Speaker 1: since we've had so much um enhanced interference in the 330 00:18:39,920 --> 00:18:44,080 Speaker 1: stock markets, and we've had so much enhanced interference in 331 00:18:44,200 --> 00:18:48,520 Speaker 1: capitalism from the government. Um, there really has been these 332 00:18:48,600 --> 00:18:52,479 Speaker 1: extra advantages that give them this unique scale that we 333 00:18:52,560 --> 00:18:56,320 Speaker 1: haven't seen before. So I do feel like if we 334 00:18:56,760 --> 00:18:59,840 Speaker 1: got out of the way, that would help to shrink 335 00:19:00,000 --> 00:19:03,040 Speaker 1: our footprint. UM. So that's one thing to contend with. 336 00:19:03,160 --> 00:19:06,040 Speaker 1: I think the other thing from an antitrust standpoint, just 337 00:19:06,119 --> 00:19:09,520 Speaker 1: because there's so much money going around, is if you 338 00:19:09,600 --> 00:19:14,360 Speaker 1: think that normally when they look at antitrust and they say, okay, 339 00:19:14,520 --> 00:19:17,439 Speaker 1: well you can't buy up businesses you know, in the 340 00:19:17,480 --> 00:19:21,320 Speaker 1: same industry, or you can't buy up um, you know, 341 00:19:21,400 --> 00:19:25,719 Speaker 1: a supply chain so that there's no other competition. I 342 00:19:25,760 --> 00:19:28,639 Speaker 1: do think we're at the point where it's least worth 343 00:19:28,760 --> 00:19:34,840 Speaker 1: discussing if you're dominating in you know, like every single industry. 344 00:19:35,280 --> 00:19:37,960 Speaker 1: You know, is that something that where there's a concern 345 00:19:38,000 --> 00:19:43,840 Speaker 1: as well. But I also am blatantly untrust untrustful I 346 00:19:43,840 --> 00:19:47,960 Speaker 1: guess of that scenario because we know the people who 347 00:19:48,000 --> 00:19:52,800 Speaker 1: are going to write that legislation aren't doing it because 348 00:19:52,920 --> 00:19:56,280 Speaker 1: they're worried about the big business and they care about 349 00:19:56,359 --> 00:20:00,600 Speaker 1: you know, us as individuals or small businesses. So the 350 00:20:00,720 --> 00:20:03,720 Speaker 1: question is what things are they doing in that legislation 351 00:20:03,800 --> 00:20:08,000 Speaker 1: to have the unintended consequences, And so that's where I 352 00:20:08,119 --> 00:20:11,679 Speaker 1: become very concerned, is you know, if they're going to 353 00:20:11,760 --> 00:20:14,760 Speaker 1: quote unquote break them up or not allow you know, 354 00:20:14,840 --> 00:20:17,639 Speaker 1: certain murders, or not allow them into certain business lines, 355 00:20:18,040 --> 00:20:21,399 Speaker 1: you know, what does that mean for everybody else? And 356 00:20:21,480 --> 00:20:23,960 Speaker 1: I think that's that's a question that we always need 357 00:20:24,000 --> 00:20:27,480 Speaker 1: to be asking well, and not to be hyperbolic, but 358 00:20:27,520 --> 00:20:30,000 Speaker 1: I mean, it seems like we're heading into a scenario 359 00:20:30,040 --> 00:20:33,320 Speaker 1: where Jeff Bezos has more power than Joe Biden might 360 00:20:33,359 --> 00:20:39,200 Speaker 1: even I would imagine that, and I hate them both, 361 00:20:39,240 --> 00:20:40,960 Speaker 1: so I'd rather them not in either them had power. 362 00:20:41,400 --> 00:20:47,400 Speaker 1: Wealthy individuals um, definitely, I think are working in connection 363 00:20:47,720 --> 00:20:52,600 Speaker 1: with the governmental officials. I think that the concern from 364 00:20:52,600 --> 00:20:57,280 Speaker 1: that sort of power dynamic UM is that the business 365 00:20:57,320 --> 00:21:00,600 Speaker 1: folks are probably a lot smarter the folks that are 366 00:21:00,600 --> 00:21:06,120 Speaker 1: in Congress, So there is not really a stretch, right. 367 00:21:06,480 --> 00:21:10,680 Speaker 1: So yeah, so I feel like that they're probably driving 368 00:21:11,280 --> 00:21:14,760 Speaker 1: um the agendas to a large part behind the scenes, 369 00:21:14,800 --> 00:21:17,240 Speaker 1: but we do need to be careful about this. And 370 00:21:17,280 --> 00:21:20,000 Speaker 1: again this it goes to like strategic thinking and under 371 00:21:20,240 --> 00:21:25,760 Speaker 1: unintended consequences. The country that printed the most billionaires over 372 00:21:25,800 --> 00:21:30,639 Speaker 1: the last year was not the United States, it was China. 373 00:21:30,840 --> 00:21:33,240 Speaker 1: And so you have to remember, you know, when you 374 00:21:33,280 --> 00:21:36,680 Speaker 1: get concerned, oh should we be, you know, concerned about 375 00:21:36,720 --> 00:21:39,680 Speaker 1: the wealth of you know, Jeff Bezos or about Bill 376 00:21:39,720 --> 00:21:44,399 Speaker 1: Gates or Warren Buffett, that this isn't just a national issue. 377 00:21:44,440 --> 00:21:48,119 Speaker 1: And if we start to meddle in that, then you 378 00:21:48,200 --> 00:21:51,639 Speaker 1: have the Chinese people who have all the power. And 379 00:21:51,680 --> 00:21:54,800 Speaker 1: again I mean this in terms of communist Chinese people, 380 00:21:54,840 --> 00:21:57,879 Speaker 1: not Americans who are Chinese origin or whatnot, but you know, 381 00:21:57,920 --> 00:22:02,639 Speaker 1: the actual communist party members who have all of the 382 00:22:02,720 --> 00:22:07,200 Speaker 1: capital and then can come in and buy up America 383 00:22:07,240 --> 00:22:09,719 Speaker 1: and be sort of, you know, kind of trojan horse 384 00:22:10,880 --> 00:22:15,480 Speaker 1: their way through the power structure here. So you know 385 00:22:15,520 --> 00:22:18,560 Speaker 1: that we have to remember, like I know, as Americans 386 00:22:18,560 --> 00:22:20,800 Speaker 1: sometimes we think we're like the only game in town, 387 00:22:20,960 --> 00:22:24,520 Speaker 1: that we're the entire world, but we're not. And so 388 00:22:24,800 --> 00:22:27,880 Speaker 1: things that you know affect us right now that we're 389 00:22:27,880 --> 00:22:31,000 Speaker 1: looking at, don't forget about you know, all of these 390 00:22:31,040 --> 00:22:35,320 Speaker 1: other powers out there, um that have gotten really wealthy 391 00:22:35,320 --> 00:22:38,240 Speaker 1: by the way, since we exported capitalism to them. So 392 00:22:38,359 --> 00:22:41,680 Speaker 1: thank thank the the United States were basically making sure 393 00:22:41,720 --> 00:22:46,320 Speaker 1: that the Chinese people benefited to your detriment um. But 394 00:22:46,760 --> 00:22:48,440 Speaker 1: you know, we have we have to be really careful 395 00:22:48,440 --> 00:22:51,280 Speaker 1: about that because you know, you can thumb your nose 396 00:22:51,480 --> 00:22:55,240 Speaker 1: at US company doing x y z. Uh, it's doubly 397 00:22:55,280 --> 00:22:58,600 Speaker 1: worth of if communist company x y Z comes here 398 00:22:58,640 --> 00:23:01,119 Speaker 1: to do that. That's a good point, uh, and something 399 00:23:01,160 --> 00:23:02,760 Speaker 1: to think about. You know. I think one thing that 400 00:23:02,800 --> 00:23:06,480 Speaker 1: really frustrates me in the conversation surrounding small businesses and 401 00:23:06,520 --> 00:23:08,560 Speaker 1: COVID over the past year, and I'm sure you feel 402 00:23:09,160 --> 00:23:11,800 Speaker 1: the same, is that this conversation of oh, was COVID 403 00:23:12,440 --> 00:23:15,840 Speaker 1: that shut down these businesses? It was COVID that shut 404 00:23:15,880 --> 00:23:19,080 Speaker 1: down you know, our economy. No, it was the government. 405 00:23:19,119 --> 00:23:23,200 Speaker 1: It was government officials making poor decisions largely based off 406 00:23:23,240 --> 00:23:25,480 Speaker 1: of bad data, and then when they got better data, 407 00:23:25,520 --> 00:23:28,280 Speaker 1: they didn't change their policy, didn't change their strategy. So 408 00:23:28,560 --> 00:23:31,560 Speaker 1: it was the government that screwed over small businesses, not COVID. 409 00:23:32,119 --> 00:23:34,679 Speaker 1: Ding ding, ding, ding ding. We have a winner? What 410 00:23:34,680 --> 00:23:37,239 Speaker 1: what what did she win today? Yes? That's I mean, 411 00:23:37,359 --> 00:23:40,399 Speaker 1: that's exactly and I've been trying to use very specific 412 00:23:40,560 --> 00:23:45,040 Speaker 1: language that it was the government's reaction to the pandemic. 413 00:23:45,560 --> 00:23:47,359 Speaker 1: That was the problem. That's in fact, that was what 414 00:23:47,400 --> 00:23:51,600 Speaker 1: the black Swan was. They had run in a series 415 00:23:51,840 --> 00:23:56,080 Speaker 1: of test runs UM, something called an exercise called Crimson 416 00:23:56,160 --> 00:23:59,679 Speaker 1: Contagion that was run at the federal level and conjunction 417 00:23:59,760 --> 00:24:02,919 Speaker 1: was like fourteen states, and they had a scenario that 418 00:24:03,000 --> 00:24:05,879 Speaker 1: they mocked up, which by the way, was strangely close 419 00:24:05,920 --> 00:24:09,280 Speaker 1: to what happened that you know, something escaped from China 420 00:24:09,359 --> 00:24:11,119 Speaker 1: and it was a bad virus and it came to 421 00:24:11,119 --> 00:24:14,440 Speaker 1: the US and there was a pandemic. Scary scary up 422 00:24:14,440 --> 00:24:18,440 Speaker 1: parallels there, and so they ran a series of drills yeah, 423 00:24:18,600 --> 00:24:20,399 Speaker 1: called Crimson should contage and you can go look it 424 00:24:20,480 --> 00:24:24,040 Speaker 1: up and UM. So they you know, they knew what 425 00:24:24,720 --> 00:24:27,359 Speaker 1: those issues were, where the potential bottle next war. So 426 00:24:27,400 --> 00:24:30,920 Speaker 1: they should have been very prepared for the situation because 427 00:24:30,920 --> 00:24:34,520 Speaker 1: they had run through it like literally months before UM 428 00:24:34,600 --> 00:24:37,719 Speaker 1: and then you know, when it came time and by 429 00:24:37,760 --> 00:24:40,199 Speaker 1: the way, you know, COVID was here for months before 430 00:24:40,240 --> 00:24:44,760 Speaker 1: they freaked out. I had COVID in February. Didn't know 431 00:24:44,800 --> 00:24:47,280 Speaker 1: it at the time because there was no testing of course, 432 00:24:47,320 --> 00:24:50,280 Speaker 1: because of the government UM and and their rules and 433 00:24:50,320 --> 00:24:54,080 Speaker 1: regulations around that. But you know I found out afterwards 434 00:24:54,119 --> 00:24:56,840 Speaker 1: because I had my antibodies tested and it was like, 435 00:24:56,880 --> 00:25:00,240 Speaker 1: oh yeah, that that actually was covid um. So you know, 436 00:25:00,280 --> 00:25:02,960 Speaker 1: people had had it. It was it was around, but 437 00:25:03,000 --> 00:25:06,520 Speaker 1: it was the specific set of decisions. It was those 438 00:25:06,560 --> 00:25:09,679 Speaker 1: picking of winners and losers, and you know, making the 439 00:25:09,760 --> 00:25:13,439 Speaker 1: economic decisions that we're not going to compensate the people, 440 00:25:13,640 --> 00:25:16,959 Speaker 1: you know, who were deeming non essential and asking them 441 00:25:17,000 --> 00:25:19,960 Speaker 1: to subjugate their rights. And none of that was based 442 00:25:20,000 --> 00:25:22,080 Speaker 1: on any data or science. I mean, we knew in 443 00:25:22,119 --> 00:25:25,639 Speaker 1: the beginning of March that the most vulnerable group was 444 00:25:25,680 --> 00:25:29,240 Speaker 1: the elderly UM and some groups with comorbidity, So there 445 00:25:29,280 --> 00:25:31,560 Speaker 1: could have been a focus around what do we do 446 00:25:31,600 --> 00:25:35,520 Speaker 1: to support the specific group UM. They could have, you know, 447 00:25:35,560 --> 00:25:38,080 Speaker 1: out of the care's package, given all small businesses that 448 00:25:38,119 --> 00:25:40,600 Speaker 1: were affected a trillion to a trillion and a half 449 00:25:40,640 --> 00:25:43,600 Speaker 1: dollars bought themselves two to three months to figure out 450 00:25:43,600 --> 00:25:47,359 Speaker 1: a mitigation strategy. They didn't do that either. They spent 451 00:25:47,480 --> 00:25:50,919 Speaker 1: trillions of dollars on their cronies and the Kennedy Center 452 00:25:51,080 --> 00:25:56,760 Speaker 1: for Deep Cleaning and all kinds of insanity. Harvard, who 453 00:25:56,840 --> 00:25:59,280 Speaker 1: was shamed by the people of Twitter into giving the 454 00:25:59,320 --> 00:26:01,560 Speaker 1: money back. But you know, those were the kinds of 455 00:26:01,600 --> 00:26:04,639 Speaker 1: decisions that were made both at the state and the 456 00:26:04,720 --> 00:26:10,800 Speaker 1: federal level. That was specifically there was their reaction and 457 00:26:10,880 --> 00:26:12,879 Speaker 1: even later in the year. I mean, one of the 458 00:26:12,960 --> 00:26:17,800 Speaker 1: craziest stories is out of New York, Surprise, surprise, when 459 00:26:17,800 --> 00:26:19,920 Speaker 1: they decided a Cuoma decided that he was going to 460 00:26:20,000 --> 00:26:23,879 Speaker 1: shut down restaurants again. And when he looked, he looked 461 00:26:23,920 --> 00:26:27,760 Speaker 1: at the contract of the contact tracing data that they 462 00:26:27,760 --> 00:26:30,440 Speaker 1: had done. It was their own data. Only one point 463 00:26:30,560 --> 00:26:34,280 Speaker 1: four percent of the cases were traced back to restaurants. 464 00:26:34,359 --> 00:26:38,159 Speaker 1: So why would you say that that's going to be 465 00:26:38,200 --> 00:26:41,280 Speaker 1: the area of focus when that's like a tiny fraction 466 00:26:41,960 --> 00:26:44,600 Speaker 1: of the overall issue. I mean, the same thing when 467 00:26:44,640 --> 00:26:47,960 Speaker 1: he had these restaurants um that were allowed to open 468 00:26:48,000 --> 00:26:51,320 Speaker 1: in part but only if they served you know, dip 469 00:26:51,400 --> 00:26:53,920 Speaker 1: with chips. Like if you would serve chips, it wasn't enough. 470 00:26:54,200 --> 00:26:56,520 Speaker 1: But if you serve dips with chips, you know, that 471 00:26:56,600 --> 00:27:00,280 Speaker 1: was enough. Like how how are dips scientific used to 472 00:27:00,359 --> 00:27:03,840 Speaker 1: drive it? It's not And that's the part that everybody 473 00:27:03,840 --> 00:27:07,000 Speaker 1: should be so frustrated about. Well, and also not to 474 00:27:07,040 --> 00:27:09,360 Speaker 1: mention the fact, you know, all these restaurants just trying 475 00:27:09,400 --> 00:27:13,240 Speaker 1: to keep up and comply with executive orders and regulation, 476 00:27:13,800 --> 00:27:17,000 Speaker 1: you know, probably put a lot of restaurants under as well, 477 00:27:17,040 --> 00:27:20,320 Speaker 1: like having to get the plastic barriers and all this 478 00:27:20,440 --> 00:27:22,879 Speaker 1: extra crap to try to salvage and to try to 479 00:27:22,880 --> 00:27:25,359 Speaker 1: stay open, and then in some instances they were shut 480 00:27:25,359 --> 00:27:27,960 Speaker 1: down again. I mean that that kills a business to 481 00:27:28,040 --> 00:27:29,720 Speaker 1: have to spend that kind of money that they don't 482 00:27:29,720 --> 00:27:32,959 Speaker 1: have on those sorts of things, just the compliance aspects, right, 483 00:27:33,000 --> 00:27:36,199 Speaker 1: So you're you're limited and what you can do, so 484 00:27:36,280 --> 00:27:39,600 Speaker 1: you don't have a full deck. Your customers are told 485 00:27:39,800 --> 00:27:42,480 Speaker 1: to be frightened and not go to your restaurant because 486 00:27:42,520 --> 00:27:46,040 Speaker 1: you have cooties. Um. And then if you want to comply, 487 00:27:46,200 --> 00:27:48,080 Speaker 1: you have to put out all of this extra money 488 00:27:48,520 --> 00:27:51,280 Speaker 1: which you're not getting reimbursed for. And you're a small 489 00:27:51,280 --> 00:27:53,960 Speaker 1: business that you don't have that same access to capital 490 00:27:54,400 --> 00:27:58,280 Speaker 1: that the big companies are basically getting for free based 491 00:27:58,320 --> 00:28:00,720 Speaker 1: on what the FED is doing in the suck market. 492 00:28:01,320 --> 00:28:03,520 Speaker 1: I have a story in the book where I talk 493 00:28:03,640 --> 00:28:07,720 Speaker 1: about l A. The Pineapple Hill Saloon and Grill, which 494 00:28:07,720 --> 00:28:10,840 Speaker 1: you may remember in l A County, you know, had 495 00:28:10,880 --> 00:28:14,240 Speaker 1: been around for a long time. They spent eighty thousand 496 00:28:14,400 --> 00:28:19,760 Speaker 1: dollars reportedly to basically configure outdoor seating so that they 497 00:28:19,800 --> 00:28:23,800 Speaker 1: could be in compliance with these mandates. And then Eric 498 00:28:23,800 --> 00:28:29,399 Speaker 1: Garcetti says, sorry, you know, we're gonna we're gonna just 499 00:28:29,440 --> 00:28:31,760 Speaker 1: shut shut that down. You're not gonna be able to 500 00:28:31,760 --> 00:28:35,600 Speaker 1: do outdoor seating. But a movie company was able to 501 00:28:35,640 --> 00:28:38,360 Speaker 1: get a permit to shoot a movie and open up 502 00:28:38,360 --> 00:28:40,920 Speaker 1: a catering tent to feed the cast and the crew 503 00:28:40,920 --> 00:28:45,040 Speaker 1: of the movie literally hundreds of feet away in the 504 00:28:45,120 --> 00:28:48,840 Speaker 1: same parking lot from this restaurant that spent all this 505 00:28:48,920 --> 00:28:51,840 Speaker 1: money that wasn't allowed to operate. Oh and by the way, 506 00:28:51,960 --> 00:28:55,840 Speaker 1: I know you'll find the shocking the movie industry lobbyists 507 00:28:55,840 --> 00:28:58,920 Speaker 1: who apparently work with this production company. I believe um 508 00:28:59,160 --> 00:29:02,520 Speaker 1: had had din or with Gavin Newsom at the French 509 00:29:02,600 --> 00:29:07,560 Speaker 1: Laundry r like just a short time prior to that happening. 510 00:29:07,920 --> 00:29:10,800 Speaker 1: So you tell me that this isn't based on politics 511 00:29:10,800 --> 00:29:13,560 Speaker 1: and it was based on data ensigns. Well, that's like 512 00:29:13,720 --> 00:29:16,320 Speaker 1: I like this line that you wrote. You wrote if 513 00:29:16,360 --> 00:29:19,680 Speaker 1: Amazon's warehouse, every Walmart in big box liquor stores have 514 00:29:19,760 --> 00:29:23,320 Speaker 1: been forced to close, just like small businesses uh that 515 00:29:23,600 --> 00:29:26,640 Speaker 1: you know, if these powerful I'm skipping a little bit, 516 00:29:26,640 --> 00:29:29,440 Speaker 1: but if these powerful connected entities would have created they 517 00:29:29,440 --> 00:29:32,120 Speaker 1: would have created such a stink that the lockdowns would 518 00:29:32,120 --> 00:29:34,080 Speaker 1: have been lifted in two to three weeks. So essentially, 519 00:29:34,120 --> 00:29:37,280 Speaker 1: if Amazon and Walmart had a face the same consequences 520 00:29:37,280 --> 00:29:39,800 Speaker 1: that small business has had, this would have been lockdowns 521 00:29:39,800 --> 00:29:41,320 Speaker 1: would have been lifted in two to three weeks. Do 522 00:29:41,320 --> 00:29:43,760 Speaker 1: you think is that why big businesses were allowed to 523 00:29:43,800 --> 00:29:46,160 Speaker 1: stay open? Yeah, I mean I think this is this 524 00:29:46,240 --> 00:29:49,480 Speaker 1: goes back to the picking of winners and losers. You know, 525 00:29:49,680 --> 00:29:53,360 Speaker 1: this narratives we're all in this together, and we completely 526 00:29:53,360 --> 00:29:56,640 Speaker 1: were not all in this together anyway. As you said Amazon, 527 00:29:56,840 --> 00:30:00,000 Speaker 1: I hated that line. That drove me nuts because exactly 528 00:30:00,120 --> 00:30:03,120 Speaker 1: we weren't all in this together. But sorry, you know, 529 00:30:03,320 --> 00:30:05,360 Speaker 1: and I'm and I'm glad that it did. It should 530 00:30:05,440 --> 00:30:10,440 Speaker 1: irritate and make everybody furious. Amazon's warehouse was able to 531 00:30:10,480 --> 00:30:13,239 Speaker 1: stay open. Walmart could stay open. By the way, in 532 00:30:13,280 --> 00:30:17,440 Speaker 1: some places, some states, we dispensaries that weren't even legal 533 00:30:17,520 --> 00:30:20,160 Speaker 1: a few years prior were now essential and able to 534 00:30:20,160 --> 00:30:23,959 Speaker 1: stay open, but your small business wasn't. And the money 535 00:30:23,960 --> 00:30:27,080 Speaker 1: that went to prop up the stock market after that 536 00:30:27,160 --> 00:30:31,320 Speaker 1: crater created this like incredible growth in the stock market. 537 00:30:31,440 --> 00:30:34,560 Speaker 1: The stock market had been truly crater and we didn't 538 00:30:34,600 --> 00:30:37,720 Speaker 1: have that support. If Amazon was shut down and you 539 00:30:37,720 --> 00:30:40,280 Speaker 1: couldn't order things, if your grocery store shut down, you 540 00:30:40,320 --> 00:30:44,680 Speaker 1: couldn't go there, everyone would have said, wait a second, 541 00:30:44,800 --> 00:30:49,680 Speaker 1: this isn't okay. The government can't do this. So they 542 00:30:49,720 --> 00:30:51,960 Speaker 1: knew if you know, you keep the big guys open, 543 00:30:52,040 --> 00:30:53,720 Speaker 1: the big guys are happy. They're the ones that make 544 00:30:53,760 --> 00:30:57,280 Speaker 1: the contributions, will pretend like we're doing something. The small 545 00:30:57,280 --> 00:31:00,240 Speaker 1: businesses will be cannon fodder, and you can decide like 546 00:31:00,280 --> 00:31:02,920 Speaker 1: either they were too small to matter, or they're too 547 00:31:02,960 --> 00:31:07,120 Speaker 1: hard to control. The intentions don't matter, the outcomes due. 548 00:31:07,840 --> 00:31:11,400 Speaker 1: But those were the ones who got hurts, and so 549 00:31:11,560 --> 00:31:15,480 Speaker 1: you had completely different experiences, and everybody running around telling 550 00:31:15,520 --> 00:31:17,160 Speaker 1: how we were all in this together and we all 551 00:31:17,200 --> 00:31:20,240 Speaker 1: had this horrendous experience when it's like a tale of 552 00:31:20,240 --> 00:31:23,080 Speaker 1: two cities. I think it also showed how dumb some 553 00:31:23,200 --> 00:31:26,040 Speaker 1: of our government officials are, whether mayors or governors, who 554 00:31:26,040 --> 00:31:27,959 Speaker 1: have never had to run anything, They've never actually had 555 00:31:28,000 --> 00:31:30,080 Speaker 1: to be you know, I mean, they're not really executives 556 00:31:30,160 --> 00:31:31,680 Speaker 1: or not, you know. I mean, look at de Bosio 557 00:31:31,760 --> 00:31:34,120 Speaker 1: is basically run New York City into the ground. But 558 00:31:34,240 --> 00:31:37,520 Speaker 1: it was such a misunderstanding of how businesses operate. Just 559 00:31:37,560 --> 00:31:40,160 Speaker 1: this idea that they just can close, they can reopen, 560 00:31:40,200 --> 00:31:42,200 Speaker 1: they can close, they can reopen. It's just such a 561 00:31:42,240 --> 00:31:45,480 Speaker 1: misunderstanding of how businesses, you know, need or operate and 562 00:31:45,520 --> 00:31:47,600 Speaker 1: what they need to function. Yeah, I mean, and we're 563 00:31:47,640 --> 00:31:50,000 Speaker 1: really paying the price for that now. So if if 564 00:31:50,040 --> 00:31:53,320 Speaker 1: you've managed to survive as a business to this point, 565 00:31:53,440 --> 00:31:56,480 Speaker 1: which many as we know have not, you know, by 566 00:31:56,640 --> 00:32:00,480 Speaker 1: taking a large swath of the economy, turning it off 567 00:32:00,920 --> 00:32:02,800 Speaker 1: and then trying to turn it back on again, like 568 00:32:02,840 --> 00:32:06,840 Speaker 1: your power cycling a computer, you've disrupted all kinds of things. 569 00:32:06,840 --> 00:32:10,480 Speaker 1: I mean, we talked about the unemployment benefit issue and 570 00:32:10,760 --> 00:32:15,040 Speaker 1: how that's affecting getting laborers back into the workforce, but 571 00:32:15,120 --> 00:32:20,160 Speaker 1: that's also then disrupted the supply chain, so businesses can't 572 00:32:20,200 --> 00:32:25,200 Speaker 1: get everything from raw materials to manufacturing access to in 573 00:32:25,240 --> 00:32:30,640 Speaker 1: some cases shipping containers or transportation, and then for the 574 00:32:30,680 --> 00:32:35,240 Speaker 1: products that you are getting, we're seeing massive inflation both 575 00:32:35,280 --> 00:32:39,360 Speaker 1: based on supply chain interruption as well as all of 576 00:32:39,360 --> 00:32:42,520 Speaker 1: the money that has been pumped into the economy. So 577 00:32:42,600 --> 00:32:46,160 Speaker 1: now if you're a small business, you're you're open, maybe, 578 00:32:46,400 --> 00:32:51,120 Speaker 1: but you don't have any employees, and everything costs you 579 00:32:51,280 --> 00:32:54,120 Speaker 1: more and you can't get some of the things that 580 00:32:54,160 --> 00:32:56,640 Speaker 1: you need to run your business. And we don't know 581 00:32:56,680 --> 00:32:59,480 Speaker 1: how long those long tail effects are going to happen. 582 00:33:00,080 --> 00:33:02,560 Speaker 1: And again, if you're a bigger company, you're going to 583 00:33:02,680 --> 00:33:06,360 Speaker 1: have the access to capital and the scale to be 584 00:33:06,440 --> 00:33:09,560 Speaker 1: able to weather that. But if you're a smaller company 585 00:33:09,640 --> 00:33:12,240 Speaker 1: or not. I mean, there was an article on Seeking Alpha, 586 00:33:12,800 --> 00:33:16,680 Speaker 1: which is a financial um kind of chat board, if 587 00:33:16,680 --> 00:33:19,240 Speaker 1: you will, for people are really interested in stocks, and 588 00:33:19,360 --> 00:33:23,520 Speaker 1: somebody put this article, how the chain restaurants are just 589 00:33:23,800 --> 00:33:28,560 Speaker 1: crushing independent restaurants because of all of these issues that 590 00:33:28,640 --> 00:33:32,400 Speaker 1: we're talking about. And yeah, I mean, they have the capital, 591 00:33:32,480 --> 00:33:34,160 Speaker 1: so of course they're they're going to be the ones 592 00:33:34,240 --> 00:33:37,760 Speaker 1: that survived, and you know they're gonna have they're gonna 593 00:33:37,800 --> 00:33:40,800 Speaker 1: face less competition, so you know, they're probably not crying 594 00:33:40,840 --> 00:33:43,800 Speaker 1: about that, And like what's the broader impact on the economy, 595 00:33:44,000 --> 00:33:45,680 Speaker 1: you know, looking ahead, Like we've talked about sort of 596 00:33:45,720 --> 00:33:49,560 Speaker 1: the market manipulation, the you know, just printing money, throwing 597 00:33:49,560 --> 00:33:53,600 Speaker 1: money at the problem, just you know, just all this 598 00:33:53,800 --> 00:33:57,160 Speaker 1: government interference. I mean, what's the long term impact of 599 00:33:57,280 --> 00:34:00,680 Speaker 1: sort of the the economy and the economic repercus we're 600 00:34:00,720 --> 00:34:03,160 Speaker 1: going to face as result of the past year. Yeah, 601 00:34:03,160 --> 00:34:06,280 Speaker 1: so it's the past year, but it's also ongoing policies 602 00:34:06,320 --> 00:34:09,440 Speaker 1: and some of the ones that are being proposed. Um. 603 00:34:09,840 --> 00:34:12,239 Speaker 1: So there are a whole slew of things. And by 604 00:34:12,239 --> 00:34:15,800 Speaker 1: the way, this is a super optimistic conversation, so really 605 00:34:15,840 --> 00:34:20,080 Speaker 1: apologize for being the bearer of bad news. Um. One 606 00:34:20,120 --> 00:34:23,120 Speaker 1: thing that that potentially is that people should keep an 607 00:34:23,120 --> 00:34:26,000 Speaker 1: eye on that they're probably not as as concerned about 608 00:34:26,080 --> 00:34:28,279 Speaker 1: they may they may know about the overall debt that 609 00:34:28,320 --> 00:34:31,719 Speaker 1: we have as a nation. Um. And obviously that's of 610 00:34:31,760 --> 00:34:35,600 Speaker 1: concern to many people, but the servicing of the interest 611 00:34:35,719 --> 00:34:39,000 Speaker 1: on that debt is a big issue. I contend that 612 00:34:39,120 --> 00:34:41,440 Speaker 1: part of the reason why the Federal Reserve is is 613 00:34:41,480 --> 00:34:43,839 Speaker 1: pushing these interest rates down as low as they are 614 00:34:44,400 --> 00:34:47,000 Speaker 1: is so that it keeps down the interest payments on 615 00:34:47,120 --> 00:34:50,799 Speaker 1: the debt when that starts to rise. And they're going 616 00:34:50,840 --> 00:34:53,839 Speaker 1: to have to do that as inflation continues to rise 617 00:34:53,880 --> 00:34:55,920 Speaker 1: based on all of the money that they've printed, all 618 00:34:55,960 --> 00:34:58,840 Speaker 1: the intervention they've had in the market. Um, that's going 619 00:34:58,920 --> 00:35:02,719 Speaker 1: to mean that we're spending more money as a country 620 00:35:02,760 --> 00:35:06,960 Speaker 1: servicing the interest on that debt, which means paying for 621 00:35:07,120 --> 00:35:11,239 Speaker 1: things that we've already bought. Not new things, not new investments, 622 00:35:11,320 --> 00:35:13,560 Speaker 1: but stuff that's already been spent. We're going to have 623 00:35:13,600 --> 00:35:17,200 Speaker 1: a larger part of our tax revenue going there, which 624 00:35:17,239 --> 00:35:20,319 Speaker 1: is going to crowd out other spending. And I'm sure 625 00:35:20,320 --> 00:35:23,760 Speaker 1: you've seen this movie before. If we're spending more on interest, 626 00:35:24,120 --> 00:35:26,120 Speaker 1: is not like the government's gonna be like, well, we 627 00:35:26,160 --> 00:35:28,759 Speaker 1: need to cut back on these other places. So that 628 00:35:28,880 --> 00:35:33,640 Speaker 1: means more of a tax burden on us as Americans. UM. 629 00:35:34,280 --> 00:35:37,680 Speaker 1: From a like a short term standpoint, you know, inflation 630 00:35:37,800 --> 00:35:42,000 Speaker 1: obviously everybody's feeling that right now. How long that lasts 631 00:35:42,040 --> 00:35:44,160 Speaker 1: and at what levels really depend on some of the 632 00:35:44,200 --> 00:35:47,960 Speaker 1: policies coming down the road. One thing that could happen, 633 00:35:48,080 --> 00:35:51,080 Speaker 1: which you know is very scared to think about, is 634 00:35:51,120 --> 00:35:53,200 Speaker 1: something that doesn't happen very often, but we saw it, 635 00:35:53,320 --> 00:35:57,359 Speaker 1: you know, decades ago, called stag inflation, where the economy 636 00:35:57,520 --> 00:36:02,640 Speaker 1: stagnates but you still have the inflated prices and inflated wages, 637 00:36:03,200 --> 00:36:06,280 Speaker 1: and so that's sort of an outcome that could happen 638 00:36:06,360 --> 00:36:09,959 Speaker 1: because of this, this kind of historic experiment that we're 639 00:36:10,040 --> 00:36:14,720 Speaker 1: in financially, and I think the biggest concern for people, 640 00:36:15,320 --> 00:36:19,720 Speaker 1: UM is just this attack on economic freedom and wealth creation. 641 00:36:20,200 --> 00:36:23,160 Speaker 1: That there are going to be fewer ways for people 642 00:36:23,760 --> 00:36:28,680 Speaker 1: to create wealth and have that economic freedom as Americans, 643 00:36:29,000 --> 00:36:32,120 Speaker 1: you know, through your homes, through the stock market, through 644 00:36:32,160 --> 00:36:35,319 Speaker 1: building a business. They're trying to make that more difficult 645 00:36:35,840 --> 00:36:38,759 Speaker 1: for you. And so again that that shifts us more 646 00:36:39,360 --> 00:36:43,640 Speaker 1: towards that central planning mode, more towards socialism, more towards 647 00:36:43,719 --> 00:36:46,200 Speaker 1: the power control, and more people on the government goal. 648 00:36:46,760 --> 00:36:52,279 Speaker 1: And it just kills this unique example of economic prosperity 649 00:36:52,280 --> 00:36:55,600 Speaker 1: that America has always been in the world and the 650 00:36:55,640 --> 00:37:00,920 Speaker 1: potential civil unrest that could follow that, you know, and 651 00:37:01,000 --> 00:37:03,560 Speaker 1: you can look throughout history when you see things like 652 00:37:03,600 --> 00:37:08,480 Speaker 1: that happening and people don't have those same well creation opportunities, 653 00:37:08,920 --> 00:37:11,520 Speaker 1: UM is really staggering. I mean, you can look at 654 00:37:11,560 --> 00:37:16,520 Speaker 1: countries like Venezuela. Um. Yeah, but you know, so we 655 00:37:16,560 --> 00:37:18,759 Speaker 1: look at states. So I'm in Florida right now. I 656 00:37:18,800 --> 00:37:21,239 Speaker 1: live in Miami at the moment, uh, you know, to 657 00:37:21,320 --> 00:37:24,480 Speaker 1: Santa's governor, to Santa's kept Florida open for you know, 658 00:37:24,840 --> 00:37:27,480 Speaker 1: the better part of the year, open the economy much 659 00:37:27,480 --> 00:37:30,520 Speaker 1: earlier than states like New York or California. Do you 660 00:37:30,520 --> 00:37:34,720 Speaker 1: know how the free states, the open states, how small 661 00:37:34,800 --> 00:37:38,200 Speaker 1: businesses in those states have done in comparison to lockdown states. 662 00:37:38,760 --> 00:37:40,879 Speaker 1: I know you're going to find this to be an 663 00:37:40,920 --> 00:37:46,520 Speaker 1: amazing statistic, but they've done better. You know, it's crazy, 664 00:37:46,520 --> 00:37:50,239 Speaker 1: I thought, so, I know, it's like mind blowing, right. 665 00:37:50,760 --> 00:37:53,720 Speaker 1: So if you look at like the deaths per million, 666 00:37:54,080 --> 00:37:56,279 Speaker 1: obviously there are a number of factors that go in. 667 00:37:56,400 --> 00:37:58,880 Speaker 1: Part of that population density, part of that, you know, 668 00:37:58,880 --> 00:38:01,960 Speaker 1: how much of an older really population. But really across 669 00:38:02,040 --> 00:38:04,520 Speaker 1: the board, you can see that those who had a 670 00:38:04,600 --> 00:38:09,120 Speaker 1: heavy handed lockdown scenario didn't fare any better and in 671 00:38:09,160 --> 00:38:12,759 Speaker 1: a lot of cases fared worse than those who had 672 00:38:12,760 --> 00:38:16,160 Speaker 1: a lighter touch approach. And again there's there's different reasons geographically, 673 00:38:16,400 --> 00:38:19,520 Speaker 1: but we know that, you know, opening up the economy 674 00:38:19,920 --> 00:38:22,959 Speaker 1: didn't create you know, these these massive amounts of depth, 675 00:38:23,040 --> 00:38:26,040 Speaker 1: so that that wasn't a big impact. But what we 676 00:38:26,120 --> 00:38:30,759 Speaker 1: can see is from an economic standpoint, the places that 677 00:38:30,800 --> 00:38:35,320 Speaker 1: took the lighter touch approach had a much better economic scenario, 678 00:38:35,440 --> 00:38:39,000 Speaker 1: had a much faster recovery had a better UM scenario 679 00:38:39,040 --> 00:38:42,480 Speaker 1: in terms of small businesses versus you know, state like 680 00:38:42,680 --> 00:38:46,040 Speaker 1: New York UM where you know that the percentage of 681 00:38:46,160 --> 00:38:50,000 Speaker 1: small businesses that are closed permanently versus you know what 682 00:38:50,000 --> 00:38:54,840 Speaker 1: we're open in January. You are just completely staggering. And 683 00:38:55,600 --> 00:38:59,560 Speaker 1: the likelihood that you're going to see this rebirth, you 684 00:38:59,560 --> 00:39:02,480 Speaker 1: know in the areas it's probably not going to come 685 00:39:02,520 --> 00:39:06,759 Speaker 1: back particularly quickly either, so you know, it didn't have 686 00:39:07,000 --> 00:39:12,080 Speaker 1: a health shifts, but it's certainly had an economic shift. Well, 687 00:39:12,120 --> 00:39:14,319 Speaker 1: what's interesting, you know, for me from a political lens, 688 00:39:14,320 --> 00:39:17,279 Speaker 1: it really crystallizes what the two parties stand for. I mean, 689 00:39:17,360 --> 00:39:19,320 Speaker 1: you look at the left, you look at these leftist states, 690 00:39:19,360 --> 00:39:22,160 Speaker 1: big government, centralized power, power at the top. And then 691 00:39:22,200 --> 00:39:25,319 Speaker 1: you look at the Republican states like Florida and just 692 00:39:25,320 --> 00:39:27,560 Speaker 1: getting the government out of the way and allowing businesses 693 00:39:27,640 --> 00:39:29,520 Speaker 1: to do their work and people to act like adults 694 00:39:29,520 --> 00:39:32,080 Speaker 1: and make their own decisions for them. But you know 695 00:39:32,120 --> 00:39:34,160 Speaker 1: that's sort of you know here nor there. Well, I 696 00:39:34,200 --> 00:39:35,879 Speaker 1: would let me just add to that, you know, because 697 00:39:35,920 --> 00:39:38,920 Speaker 1: we were talking about the extended unemployment benefits. You know, 698 00:39:39,000 --> 00:39:42,640 Speaker 1: the first states obviously two opt out of that UM 699 00:39:42,760 --> 00:39:46,840 Speaker 1: tended to be red states who said, yeah, this doesn't 700 00:39:46,840 --> 00:39:49,480 Speaker 1: seem like a good idea. This is keeping people out 701 00:39:49,480 --> 00:39:52,160 Speaker 1: of the workforce, so we're going to opt out of 702 00:39:52,200 --> 00:39:55,120 Speaker 1: that program. And now you're seeing some blue states jumping 703 00:39:55,120 --> 00:39:57,680 Speaker 1: in and going out. You're probably right too, but that 704 00:39:57,840 --> 00:40:01,520 Speaker 1: the leadership on that was definitely more of a red 705 00:40:01,640 --> 00:40:04,799 Speaker 1: state thing. Although I will have to say, um, you know, 706 00:40:04,800 --> 00:40:08,399 Speaker 1: the whole small business issue is not only nonpartisan, but 707 00:40:08,560 --> 00:40:11,840 Speaker 1: you know, in terms of some of the spending issues 708 00:40:11,840 --> 00:40:15,840 Speaker 1: and the broader issues, both parties are also at fault, 709 00:40:16,000 --> 00:40:18,239 Speaker 1: even though the left policies tend to be a little 710 00:40:18,239 --> 00:40:22,280 Speaker 1: bit heavier heavier handed. And for the states that are 711 00:40:22,320 --> 00:40:24,960 Speaker 1: you know, are no longer taking the enhanced unemployment aren't 712 00:40:24,960 --> 00:40:28,600 Speaker 1: they doing better in terms of employment of having people 713 00:40:28,600 --> 00:40:30,399 Speaker 1: go back to work in those states now that they've 714 00:40:30,400 --> 00:40:34,120 Speaker 1: stopped taking those enhancement benefits. It seems like that we're 715 00:40:34,120 --> 00:40:36,520 Speaker 1: gonna actually get some really good data. As of the 716 00:40:36,640 --> 00:40:39,640 Speaker 1: date that we're taping, this was right before the job's 717 00:40:39,719 --> 00:40:42,440 Speaker 1: report comes out for the last month, So I think 718 00:40:42,440 --> 00:40:45,560 Speaker 1: we're gonna get some really interesting data out of that, 719 00:40:46,040 --> 00:40:48,160 Speaker 1: and I expect that we're going to see a rebound 720 00:40:48,239 --> 00:40:50,000 Speaker 1: and I imagine that we're going to see a rebound 721 00:40:50,000 --> 00:40:53,719 Speaker 1: specifically tied to the states who have decided um that 722 00:40:53,800 --> 00:40:55,439 Speaker 1: you know, we're no longer going to be a part 723 00:40:55,480 --> 00:40:59,000 Speaker 1: of that. However, I do have, you know, my own theory, 724 00:40:59,040 --> 00:41:01,239 Speaker 1: and this is just based on human nature more than 725 00:41:01,320 --> 00:41:05,320 Speaker 1: economics per se, is that for people who have chosen 726 00:41:05,320 --> 00:41:08,360 Speaker 1: to opt out and not go back to work right away, 727 00:41:08,760 --> 00:41:10,720 Speaker 1: I do think we're not going to see a big 728 00:41:10,760 --> 00:41:13,560 Speaker 1: recovery until after labor Day. Because if you've been out 729 00:41:13,600 --> 00:41:17,680 Speaker 1: this whole time and it's now like July, it's the 730 00:41:17,680 --> 00:41:19,560 Speaker 1: middle of the summer, and you know you've got all 731 00:41:19,600 --> 00:41:21,680 Speaker 1: these things going on, is that where you're going to 732 00:41:21,760 --> 00:41:23,600 Speaker 1: go to start back into the workforce. So you're just 733 00:41:23,600 --> 00:41:25,600 Speaker 1: going to take the rest of the summer off and 734 00:41:25,680 --> 00:41:28,200 Speaker 1: just wait till after labor Day. So my guess is 735 00:41:28,239 --> 00:41:30,880 Speaker 1: we're probably not going to see a shift until that 736 00:41:31,000 --> 00:41:33,759 Speaker 1: kind of post labor day situation, which you get a 737 00:41:33,840 --> 00:41:37,720 Speaker 1: total and complete disaster for small business owners who don't 738 00:41:37,760 --> 00:41:40,279 Speaker 1: have the capital, as I mentioned, in some cases to 739 00:41:40,320 --> 00:41:43,400 Speaker 1: even pay their rent for the month, let alone be 740 00:41:43,480 --> 00:41:46,520 Speaker 1: able to be without employees and to scale back up 741 00:41:46,520 --> 00:41:48,759 Speaker 1: their businesses well. And to add to some of the 742 00:41:48,760 --> 00:41:51,520 Speaker 1: additional challenges. And we have a president right now who's 743 00:41:51,560 --> 00:41:55,080 Speaker 1: eyeing tax increases on you know, possibly sixty of the 744 00:41:55,120 --> 00:41:57,840 Speaker 1: country and looking at spending trillions of dollars on an 745 00:41:57,880 --> 00:42:01,399 Speaker 1: infrastructure bill that really isn't an infrastructure. Yeah. And let's 746 00:42:01,440 --> 00:42:04,520 Speaker 1: add on to that, UM wanting to increase the federal 747 00:42:04,560 --> 00:42:07,760 Speaker 1: minimum wage, which I mentioned. You know, Amazon and folks 748 00:42:07,800 --> 00:42:10,520 Speaker 1: are now pushing for UM and which, by the way, 749 00:42:10,560 --> 00:42:15,319 Speaker 1: they've admitted Joe Biden used his outside voice instead of 750 00:42:15,320 --> 00:42:19,320 Speaker 1: the inside voice in his head to whisper and say, oh, 751 00:42:19,400 --> 00:42:23,359 Speaker 1: you know, we're now competing with you for employees, so 752 00:42:23,480 --> 00:42:25,640 Speaker 1: that that's sort of a de facto pushed too, to 753 00:42:25,719 --> 00:42:29,040 Speaker 1: increase the minimum wage. And then there's something, UM, I 754 00:42:29,040 --> 00:42:31,080 Speaker 1: don't know if you've talked about it before, called the 755 00:42:31,080 --> 00:42:35,760 Speaker 1: pro Act, which is basically taking the independent contractor language 756 00:42:35,760 --> 00:42:38,759 Speaker 1: from a B five in California and trying to nationalize it, 757 00:42:39,160 --> 00:42:42,960 Speaker 1: which could completely kill the ability for people to be 758 00:42:43,400 --> 00:42:47,319 Speaker 1: independent contractors, which is like fifty nine million jobs and 759 00:42:47,440 --> 00:42:50,600 Speaker 1: small businesses, a lot of them rely heavily on independent 760 00:42:50,640 --> 00:42:53,560 Speaker 1: contractors because the government makes it so difficult to hire 761 00:42:53,640 --> 00:42:56,719 Speaker 1: and maintain an employee. UM. So you know, all of 762 00:42:56,760 --> 00:43:00,400 Speaker 1: those kinds of policies, and even something like the capital 763 00:43:00,480 --> 00:43:04,439 Speaker 1: gains tax that they're talking about increasing, which by the way, 764 00:43:04,680 --> 00:43:08,799 Speaker 1: Communist China's capital gains taxes only even even they know 765 00:43:08,880 --> 00:43:12,560 Speaker 1: to keep that low. Um. That's something that it sounds 766 00:43:12,600 --> 00:43:15,719 Speaker 1: again like it's an attack on the wealthy. But the 767 00:43:15,760 --> 00:43:18,960 Speaker 1: wealthy is just going to move around their capital. But 768 00:43:19,080 --> 00:43:20,560 Speaker 1: what they're not going to do is they're not going 769 00:43:20,640 --> 00:43:23,000 Speaker 1: to take on extra risk. They're gonna be looking in 770 00:43:23,080 --> 00:43:27,160 Speaker 1: different places, um to minimize the risk in order to 771 00:43:27,239 --> 00:43:30,640 Speaker 1: make up the differential that they have to make up 772 00:43:30,800 --> 00:43:35,040 Speaker 1: for the higher taxes. So the riskiest businesses out there 773 00:43:35,400 --> 00:43:39,279 Speaker 1: are the ones that are smaller and startups and most innovative. 774 00:43:39,640 --> 00:43:42,279 Speaker 1: So who do you think is going to be hurt 775 00:43:42,360 --> 00:43:45,200 Speaker 1: the most when you have, you know, somebody at the 776 00:43:45,800 --> 00:43:50,439 Speaker 1: government interfering in the market and changing and disrupting risk 777 00:43:50,480 --> 00:43:54,000 Speaker 1: allocation via capital gains tax. Of course it's gonna end 778 00:43:54,080 --> 00:43:57,479 Speaker 1: up being the small businesses. So all of these things 779 00:43:57,480 --> 00:44:00,720 Speaker 1: they keep throwing out under the guys, we're gonna attack 780 00:44:00,719 --> 00:44:02,720 Speaker 1: the world. They were going to attack the big guys, 781 00:44:02,800 --> 00:44:05,240 Speaker 1: We're gonna, you know, do it for the little guys. 782 00:44:05,719 --> 00:44:09,160 Speaker 1: It's to get them more revenue and power, and it's 783 00:44:09,200 --> 00:44:14,120 Speaker 1: to crush the little guys, whether it's intentionally or just 784 00:44:14,200 --> 00:44:16,319 Speaker 1: again because they're they're the easiest to kind of throw 785 00:44:16,360 --> 00:44:19,200 Speaker 1: out his cannon fodder. Personally, I mean, I think it's intentional. 786 00:44:19,239 --> 00:44:21,799 Speaker 1: I think it's their worldview of trying to crush I mean, 787 00:44:21,840 --> 00:44:24,719 Speaker 1: it's the left purports to be about the people, but 788 00:44:24,760 --> 00:44:27,239 Speaker 1: they're about power and about power at the top and 789 00:44:27,360 --> 00:44:30,719 Speaker 1: power with government as opposed to you know, actually giving 790 00:44:30,719 --> 00:44:33,560 Speaker 1: power to the people. But uh, you know, so one thing, 791 00:44:33,560 --> 00:44:37,359 Speaker 1: I'm just curious about how helpful was p PP two 792 00:44:37,360 --> 00:44:41,759 Speaker 1: small businesses those loans. So this is this is a 793 00:44:41,800 --> 00:44:45,520 Speaker 1: mixed bag. Um. It's kind of like, you know, how 794 00:44:45,560 --> 00:44:50,440 Speaker 1: helpful is a crumb keeping you from starving? Like, you know, 795 00:44:50,920 --> 00:44:54,400 Speaker 1: it maybe sustains you for another few hours or a 796 00:44:54,400 --> 00:44:58,480 Speaker 1: few days. Um. And certainly for some small businesses it 797 00:44:58,600 --> 00:45:02,239 Speaker 1: was helpful. The problem is that it was a fraction 798 00:45:02,600 --> 00:45:04,840 Speaker 1: of the overall dollars that were given out, and it 799 00:45:04,920 --> 00:45:07,319 Speaker 1: was a fraction of the dollars that were needed to 800 00:45:07,480 --> 00:45:11,400 Speaker 1: make up for the level of property rights interference that 801 00:45:11,480 --> 00:45:15,720 Speaker 1: the government government made. Um, right up front, the first, 802 00:45:15,960 --> 00:45:19,680 Speaker 1: you know, the first trunch of it, and the Cares 803 00:45:19,800 --> 00:45:22,919 Speaker 1: Act was structured so poorly, and this is all over 804 00:45:22,960 --> 00:45:25,840 Speaker 1: the media. It was before it's it's popping up again 805 00:45:26,400 --> 00:45:30,799 Speaker 1: that the biggest quote unquote small companies out there were 806 00:45:30,880 --> 00:45:33,520 Speaker 1: the ones who got most of the money, and it 807 00:45:33,600 --> 00:45:38,160 Speaker 1: was exhausted in like thirteen to fourteen days, and so 808 00:45:38,280 --> 00:45:42,120 Speaker 1: over three trunches, you know, about eight hundred billion has 809 00:45:42,160 --> 00:45:44,640 Speaker 1: been taken down, which again is a fraction of the 810 00:45:45,320 --> 00:45:49,400 Speaker 1: six plus trillion dollars we've spent at this point in time, um, 811 00:45:49,480 --> 00:45:51,480 Speaker 1: But for the length of time that they've had these 812 00:45:51,520 --> 00:45:54,960 Speaker 1: small business owners on the ropes, like that's just you know, 813 00:45:55,000 --> 00:45:57,520 Speaker 1: it's not enough for half of the economy. And even 814 00:45:57,520 --> 00:45:59,719 Speaker 1: if a third of that half is what was the 815 00:45:59,800 --> 00:46:03,319 Speaker 1: fact did, it's still not enough to make to make 816 00:46:03,440 --> 00:46:06,000 Speaker 1: up for that. Plus you had to jump through all 817 00:46:06,080 --> 00:46:10,000 Speaker 1: these hoops. A lot of people didn't qualify because they 818 00:46:10,040 --> 00:46:13,800 Speaker 1: had contractors in their business or because of their own 819 00:46:13,920 --> 00:46:20,400 Speaker 1: debt backgrounds. Some people rightfully so, we're distrustful of the government, 820 00:46:20,880 --> 00:46:23,839 Speaker 1: so they weren't sure that they were actually going to 821 00:46:23,880 --> 00:46:27,760 Speaker 1: get it forgiven, so they decided not to go ahead 822 00:46:27,800 --> 00:46:31,360 Speaker 1: with it. So like at every turn, um, you know, 823 00:46:31,400 --> 00:46:34,920 Speaker 1: it was pretty clear that that program was not the 824 00:46:34,960 --> 00:46:38,520 Speaker 1: savior that they touted to be, and we're continuing to 825 00:46:38,560 --> 00:46:41,719 Speaker 1: see those issues. I had a small business owner just 826 00:46:41,840 --> 00:46:44,880 Speaker 1: email me today. I put it out on Twitter that 827 00:46:45,520 --> 00:46:51,560 Speaker 1: they had applied for relief from this restaurant relief program 828 00:46:51,600 --> 00:46:54,600 Speaker 1: that the Biden administration had in conjunction with the SBA, 829 00:46:55,160 --> 00:46:57,839 Speaker 1: again picking winners and losers. If you're a restaurant, we're 830 00:46:57,840 --> 00:46:59,320 Speaker 1: going to give you relief. You know, if you're a 831 00:46:59,400 --> 00:47:02,759 Speaker 1: dry cleaner or something else like too bad for you, 832 00:47:02,760 --> 00:47:06,400 Speaker 1: you can't apply. UM. But what they did is that 833 00:47:06,480 --> 00:47:09,360 Speaker 1: they discriminated. They said, if you were a woman or 834 00:47:09,400 --> 00:47:12,400 Speaker 1: a minority, we were going to prioritize you. So they 835 00:47:12,520 --> 00:47:16,799 Speaker 1: told three thousand women and minority businesses that they were 836 00:47:16,840 --> 00:47:19,800 Speaker 1: going to get money. And you know, my particular small 837 00:47:19,800 --> 00:47:23,400 Speaker 1: business owner who contacted me was had had said you 838 00:47:23,400 --> 00:47:25,600 Speaker 1: were approved. They said the amount it was like fifty 839 00:47:25,719 --> 00:47:29,640 Speaker 1: seven thousand dollars and you know whatever the it ended 840 00:47:29,640 --> 00:47:31,440 Speaker 1: in into O eight, I don't remember. The middle number 841 00:47:31,560 --> 00:47:34,680 Speaker 1: was UM and they showed the bank account it was 842 00:47:34,719 --> 00:47:37,040 Speaker 1: going to and said it will be there in three 843 00:47:37,040 --> 00:47:40,239 Speaker 1: to seven days from now. You've been fully approved. And 844 00:47:40,280 --> 00:47:43,080 Speaker 1: then they were sued. The SBA was sued and said, 845 00:47:43,120 --> 00:47:47,560 Speaker 1: you know, you've discriminated and prioritize certain people based on 846 00:47:47,840 --> 00:47:52,120 Speaker 1: race um And so then the SBA went back to 847 00:47:52,320 --> 00:47:55,240 Speaker 1: three thousand women and minority owned businesses and stead, I'm sorry, 848 00:47:55,239 --> 00:47:57,880 Speaker 1: we're not giving you the money anymore. So instead of 849 00:47:57,920 --> 00:48:01,000 Speaker 1: going and getting more money, which again we're talking like 850 00:48:01,440 --> 00:48:04,200 Speaker 1: billions of dollars, which is a fraction of the trillions 851 00:48:04,239 --> 00:48:07,040 Speaker 1: that they've wasted on other things in order to support 852 00:48:07,040 --> 00:48:09,360 Speaker 1: these small businesses that they've already told they're giving a 853 00:48:09,400 --> 00:48:13,600 Speaker 1: lifeline to, they've now rescinded that they've now taken that back, 854 00:48:14,400 --> 00:48:17,359 Speaker 1: Like like, what what are we doing here? There's such 855 00:48:17,360 --> 00:48:20,279 Speaker 1: a callousness with the lockdowns as well. I mean, it's 856 00:48:20,280 --> 00:48:24,400 Speaker 1: just such a disregard for lives and just you know people. 857 00:48:24,880 --> 00:48:27,480 Speaker 1: I mean, you've got people like this is how they 858 00:48:27,520 --> 00:48:30,120 Speaker 1: put food on the table, this is how people put 859 00:48:30,120 --> 00:48:32,160 Speaker 1: a roof over their children's head, how they're going to 860 00:48:32,200 --> 00:48:34,280 Speaker 1: be able to send their kids to college in the future. 861 00:48:34,440 --> 00:48:39,440 Speaker 1: You have generational restaurants passed down, you know, throughout generations gone. 862 00:48:39,960 --> 00:48:41,919 Speaker 1: I mean, this is something that you know we're talking about, 863 00:48:41,920 --> 00:48:44,560 Speaker 1: you know, restaurants businesses that people have worked their entire 864 00:48:44,719 --> 00:48:48,120 Speaker 1: lives to build, just and then employ people that they 865 00:48:48,120 --> 00:48:50,640 Speaker 1: employ as well. And it's like it's like there's just 866 00:48:50,680 --> 00:48:54,440 Speaker 1: such a callousness and just such a disregard for the 867 00:48:54,440 --> 00:48:57,399 Speaker 1: people at the heart of it. Yeah, and it's their identities. 868 00:48:57,440 --> 00:49:00,200 Speaker 1: I don't don't think people realize if you've never into 869 00:49:00,200 --> 00:49:03,680 Speaker 1: small business before, how difficult it is. I mean, most 870 00:49:03,719 --> 00:49:07,080 Speaker 1: small business owners have invested their own money to get 871 00:49:07,080 --> 00:49:10,839 Speaker 1: it going, so they've taken on risk. They've worked definitely 872 00:49:10,920 --> 00:49:13,840 Speaker 1: more than forty hours a week. You know, it's it's blood, 873 00:49:13,880 --> 00:49:17,640 Speaker 1: sweat and tears. They've probably had more aggravation than they 874 00:49:17,640 --> 00:49:20,080 Speaker 1: would if they had just had a regular job. And 875 00:49:20,160 --> 00:49:23,719 Speaker 1: it becomes like their child and their identity, and they're 876 00:49:23,719 --> 00:49:27,359 Speaker 1: really wrapped up in that business as a part of them. 877 00:49:27,840 --> 00:49:31,080 Speaker 1: And as you said, sometimes it's multigenerational, and to take 878 00:49:31,320 --> 00:49:35,560 Speaker 1: that away from people, um can alter their lives. You know. 879 00:49:35,600 --> 00:49:37,640 Speaker 1: I had a story. I put out a call to 880 00:49:38,120 --> 00:49:41,239 Speaker 1: hear about some of these stories, and there's this horrendous 881 00:49:41,280 --> 00:49:43,880 Speaker 1: story that that sticks with me. UM Here in the 882 00:49:43,960 --> 00:49:47,440 Speaker 1: suburbs of Chicago, a guy who owned a carpet cleaning 883 00:49:47,480 --> 00:49:51,680 Speaker 1: business and that was shut down very early on. He 884 00:49:51,719 --> 00:49:54,759 Speaker 1: could not qualify for p p P because he had 885 00:49:54,800 --> 00:49:59,120 Speaker 1: had some past bad debts, so they disqualified him, and uh, 886 00:49:59,200 --> 00:50:03,800 Speaker 1: you know, he really started bleeding cash and he turned 887 00:50:04,000 --> 00:50:09,080 Speaker 1: to alcohol and he in short order took his own life. 888 00:50:09,960 --> 00:50:12,360 Speaker 1: And this is the kind of thing we're talking about. 889 00:50:12,400 --> 00:50:15,880 Speaker 1: I mean that that's a death from the government's decision 890 00:50:16,480 --> 00:50:20,080 Speaker 1: to do these mandates and to tell this person that 891 00:50:20,160 --> 00:50:22,719 Speaker 1: he wasn't essential. So when people say, oh, you know, 892 00:50:22,760 --> 00:50:25,880 Speaker 1: it's only money and it can be replaced, like, that's 893 00:50:25,920 --> 00:50:29,359 Speaker 1: not it. That's not the story. That's not what happened. Um, 894 00:50:29,719 --> 00:50:33,160 Speaker 1: So it's really really devastating to hear these stories. There's 895 00:50:33,160 --> 00:50:36,359 Speaker 1: another one in Chicago, Southport Lanes, which is sort of 896 00:50:36,360 --> 00:50:40,240 Speaker 1: like an eating, drinking and gathering establishment. It was about 897 00:50:40,360 --> 00:50:45,200 Speaker 1: to celebrate one hundred years in business. It survived Prohibition 898 00:50:46,120 --> 00:50:50,800 Speaker 1: as a bar, yet could not survive what the government 899 00:50:50,840 --> 00:50:55,240 Speaker 1: did during COVID. I mean, it's just absolutely staggering. And again, 900 00:50:55,280 --> 00:50:59,880 Speaker 1: these are just a handful of millions of stories where 901 00:51:00,080 --> 00:51:03,200 Speaker 1: people have either completely gone out of business or are 902 00:51:03,400 --> 00:51:05,360 Speaker 1: you fighting to hang on. Well, that's one of the 903 00:51:05,440 --> 00:51:07,640 Speaker 1: reasons I refused to ever say we're all in this 904 00:51:07,719 --> 00:51:10,080 Speaker 1: together because we're not right, I was still getting a paycheck, 905 00:51:10,160 --> 00:51:12,279 Speaker 1: So that's completely unfair to say what other people were 906 00:51:12,280 --> 00:51:15,080 Speaker 1: truly suffering. And every person out there that said we 907 00:51:15,120 --> 00:51:17,320 Speaker 1: were all in this together was still getting a paycheck. 908 00:51:17,400 --> 00:51:19,799 Speaker 1: I mean, I literally cannot think of one person who 909 00:51:20,040 --> 00:51:21,719 Speaker 1: was out there saying we're all in this together that 910 00:51:21,840 --> 00:51:25,480 Speaker 1: wasn't still employed and receiving a paycheck. So that, of 911 00:51:25,520 --> 00:51:28,640 Speaker 1: course is at the height of the or think about 912 00:51:28,680 --> 00:51:30,880 Speaker 1: the government. The government didn't take they didn't take a 913 00:51:31,120 --> 00:51:34,520 Speaker 1: cut exactly. It's like that that. Yeah, and you've got 914 00:51:34,560 --> 00:51:37,560 Speaker 1: these people making these policies just devastating the lives of 915 00:51:37,600 --> 00:51:39,839 Speaker 1: so many people who are still getting paid. I mean, 916 00:51:39,880 --> 00:51:43,239 Speaker 1: it's sick. It really, it's twisted, and it's disgusting, and 917 00:51:43,239 --> 00:51:45,399 Speaker 1: and of course there's not gonna ever be any consequences 918 00:51:45,440 --> 00:51:47,560 Speaker 1: outside of, you know, trying to throw some of these 919 00:51:47,600 --> 00:51:49,800 Speaker 1: bums out of political office, which is you know, nearly 920 00:51:49,840 --> 00:51:52,759 Speaker 1: impossible in some of these liberal cities and states. But 921 00:51:53,040 --> 00:51:55,200 Speaker 1: you know, it's just it's twisted. I mean, it really 922 00:51:55,200 --> 00:51:57,680 Speaker 1: is sick what's happened over the past year. Yeah, I mean, 923 00:51:57,719 --> 00:51:59,800 Speaker 1: you've got Cuomo who got to write a book about 924 00:51:59,800 --> 00:52:02,000 Speaker 1: his leadership and get an Emmy about what a great 925 00:52:02,080 --> 00:52:04,399 Speaker 1: job he did and pat himself on the back and 926 00:52:04,520 --> 00:52:09,000 Speaker 1: ended up murdering literally, you know, people as well as 927 00:52:09,120 --> 00:52:12,680 Speaker 1: murdering small businesses. And and like you said, it's not 928 00:52:12,719 --> 00:52:16,359 Speaker 1: going to face um nearly the consequences. You know, one 929 00:52:16,360 --> 00:52:19,520 Speaker 1: thing I've been advising small business owners to do is 930 00:52:19,520 --> 00:52:22,799 Speaker 1: to sue because I really feel like, you know this, 931 00:52:22,800 --> 00:52:25,239 Speaker 1: this is an eminent domain situation and they were not 932 00:52:25,280 --> 00:52:30,839 Speaker 1: appropriately compensated. So I would imagine we would see some 933 00:52:30,920 --> 00:52:34,960 Speaker 1: class action lawsuits pop up, you know, in in months, um, 934 00:52:35,040 --> 00:52:38,200 Speaker 1: in years to follow, and uh, you know it's it's 935 00:52:38,200 --> 00:52:41,560 Speaker 1: a double edged sword because you know, they deserve their compensation. Um. 936 00:52:41,680 --> 00:52:43,080 Speaker 1: But at the end of the day, you know who's 937 00:52:43,080 --> 00:52:45,239 Speaker 1: paying for that. That's me and you, because it's not 938 00:52:45,280 --> 00:52:49,919 Speaker 1: these government officials who have absolutely no risk uh for 939 00:52:49,960 --> 00:52:53,160 Speaker 1: these ridiculous actions that they continue to take. And and 940 00:52:53,200 --> 00:52:55,799 Speaker 1: that's a that's a darn shame. Quick commercial breaks, stay 941 00:52:55,840 --> 00:53:01,799 Speaker 1: with us, well in real quick before we go. What 942 00:53:01,920 --> 00:53:04,160 Speaker 1: needs to be done the most to help small businesses 943 00:53:04,239 --> 00:53:05,960 Speaker 1: right now? If you could pick one thing, So the 944 00:53:06,000 --> 00:53:10,200 Speaker 1: thing that's easiest for all of us to do is 945 00:53:10,360 --> 00:53:12,960 Speaker 1: to vote with your dollars and your wallets. I know 946 00:53:13,040 --> 00:53:16,040 Speaker 1: it's super easy to go online and you know, go 947 00:53:16,080 --> 00:53:19,520 Speaker 1: to a certain big online retailer, go to a big 948 00:53:19,560 --> 00:53:23,480 Speaker 1: box retailer when you're out running errands. But really think about, 949 00:53:23,719 --> 00:53:28,080 Speaker 1: you know, what that does to decentralization, economic freedom and 950 00:53:28,120 --> 00:53:30,960 Speaker 1: the consolidation of power in the economy, and is it 951 00:53:31,040 --> 00:53:34,840 Speaker 1: worth it? Is that like extra click of convenience worth 952 00:53:35,480 --> 00:53:40,120 Speaker 1: you know, taking away potential economic freedom and moving us 953 00:53:40,160 --> 00:53:42,719 Speaker 1: into a place where there's this consolidated power. So I 954 00:53:42,719 --> 00:53:45,799 Speaker 1: think if we are all more conscious about how we 955 00:53:45,960 --> 00:53:49,120 Speaker 1: vote with our dollars um, that's an easy thing for 956 00:53:49,200 --> 00:53:52,319 Speaker 1: us to attack as we continue to find ways to 957 00:53:52,920 --> 00:53:55,520 Speaker 1: bring in the fed right in government and do all 958 00:53:55,560 --> 00:53:57,279 Speaker 1: those other things that need to be done that are 959 00:53:57,400 --> 00:53:59,759 Speaker 1: a lot more challenging to do. Carol, this has been 960 00:53:59,760 --> 00:54:02,800 Speaker 1: a fascinating discussion. I've really enjoyed it was super interesting. 961 00:54:02,800 --> 00:54:04,239 Speaker 1: I'm so glad you wrote this book. And for the 962 00:54:04,280 --> 00:54:06,080 Speaker 1: folks at home again, the book is called The War 963 00:54:06,120 --> 00:54:08,960 Speaker 1: on Small Business, How the Government used the pandemic to 964 00:54:09,040 --> 00:54:12,120 Speaker 1: crush the backbone of America. Carol, thanks so much for 965 00:54:12,320 --> 00:54:15,160 Speaker 1: joining this week's episode. I really appreciate the discussion. Well, 966 00:54:15,200 --> 00:54:17,520 Speaker 1: thanks so much for giving it a platform. As we 967 00:54:17,520 --> 00:54:20,640 Speaker 1: we kind of started out, not enough people care about this, 968 00:54:20,760 --> 00:54:23,800 Speaker 1: So for you advocating for a small business and advocating 969 00:54:23,840 --> 00:54:25,520 Speaker 1: for people to pick up the book so they can 970 00:54:25,680 --> 00:54:29,880 Speaker 1: educate themselves and show the media and publishers and whatnot 971 00:54:29,880 --> 00:54:31,719 Speaker 1: that people do care about this and they want to 972 00:54:31,760 --> 00:54:35,120 Speaker 1: hear more people talking about this. Um, it's so important 973 00:54:35,239 --> 00:54:38,879 Speaker 1: and to walk the talk that I was just talking about. UM, 974 00:54:38,920 --> 00:54:41,360 Speaker 1: if you don't want to go to the big company 975 00:54:41,400 --> 00:54:44,000 Speaker 1: to buy the war on small business, there's a great 976 00:54:44,360 --> 00:54:49,160 Speaker 1: online company called bookshop dot org and they will fulfill 977 00:54:49,480 --> 00:54:53,320 Speaker 1: your order from a local small business bookseller. So anytime 978 00:54:53,360 --> 00:54:55,560 Speaker 1: you want to buy a book, including this one, you 979 00:54:55,560 --> 00:54:58,080 Speaker 1: can just go to bookshop dot org and then you'll 980 00:54:58,120 --> 00:55:00,520 Speaker 1: be supporting a small business owner. So you've got to 981 00:55:00,560 --> 00:55:03,239 Speaker 1: support a small business and small business advocacy at the 982 00:55:03,239 --> 00:55:05,320 Speaker 1: same time. I love that, So everyone go by the 983 00:55:05,360 --> 00:55:09,120 Speaker 1: book there as opposed to you know, Amazon, So again, 984 00:55:09,320 --> 00:55:11,200 Speaker 1: appreciate what you're doing. My heart goes out to everyone 985 00:55:11,239 --> 00:55:13,160 Speaker 1: who's been suffering over the past year as a result 986 00:55:13,280 --> 00:55:17,399 Speaker 1: of our horrible and tyrannical government. So Carol, appreciate your time. 987 00:55:17,680 --> 00:55:27,239 Speaker 1: Thank you so much appreciate you. Thank you. I want 988 00:55:27,239 --> 00:55:30,280 Speaker 1: to dake Carol Roth again for a really important interview 989 00:55:30,320 --> 00:55:33,080 Speaker 1: in writing a book that everyone needs to read. And 990 00:55:33,080 --> 00:55:34,920 Speaker 1: I want to thank you guys at home for listening. 991 00:55:35,920 --> 00:55:38,200 Speaker 1: If you enjoy today's show, please leave us a review 992 00:55:38,400 --> 00:55:40,759 Speaker 1: and rate us five stars on the Apple Podcast. I 993 00:55:40,800 --> 00:55:43,880 Speaker 1: love hearing your feedback. Please leave a review, Please leave reading, 994 00:55:44,280 --> 00:55:47,080 Speaker 1: but only if it's five stars, just kidding. You can 995 00:55:47,120 --> 00:55:49,640 Speaker 1: also find me on Twitter and Instagram at least some 996 00:55:49,760 --> 00:55:52,000 Speaker 1: rebooth and I want to bank or team who makes 997 00:55:52,000 --> 00:55:56,799 Speaker 1: this podcast possible. Producer John Cassio, writer Aaron Kleigman, researcher 998 00:55:56,880 --> 00:55:59,560 Speaker 1: Isabella mcmannon Who's New and Who's doing a Great Job? 999 00:56:00,000 --> 00:56:02,920 Speaker 1: And executive producer is Debbie Myers and speaker New Generage, 1000 00:56:03,040 --> 00:56:05,640 Speaker 1: all part of the Gingridge three sixty network.