1
00:00:00,080 --> 00:00:01,599
Speaker 1: Hey, guys, Saga and Crystal here.

2
00:00:01,680 --> 00:00:05,240
Speaker 2: Independent media just played a truly massive role in this election,

3
00:00:05,360 --> 00:00:07,840
Speaker 2: and we are so excited about what that means for

4
00:00:07,880 --> 00:00:08,720
Speaker 2: the future of the show.

5
00:00:08,880 --> 00:00:10,719
Speaker 1: This is the only place where you can find honest

6
00:00:10,760 --> 00:00:13,280
Speaker 1: perspectives from the left and the right that simply does

7
00:00:13,320 --> 00:00:14,640
Speaker 1: not exist anywhere else.

8
00:00:14,720 --> 00:00:17,080
Speaker 2: So if that is something that's important to you, please

9
00:00:17,120 --> 00:00:19,599
Speaker 2: go to Breakingpoints dot com. Become a member today and

10
00:00:19,640 --> 00:00:22,920
Speaker 2: you'll access to our full shows, unedited, ad free, and

11
00:00:23,040 --> 00:00:25,600
Speaker 2: all put together for you every morning in your inbox.

12
00:00:25,680 --> 00:00:27,560
Speaker 1: We need your help to build the future of independent

13
00:00:27,560 --> 00:00:29,920
Speaker 1: news media and we hope to see you at Breakingpoints

14
00:00:29,960 --> 00:00:33,479
Speaker 1: dot com.

15
00:00:33,560 --> 00:00:35,280
Speaker 2: Good morning, everybody, Welcome to Breaking Points.

16
00:00:35,320 --> 00:00:37,199
Speaker 3: Ryan Grim, great to see you, my friends, great.

17
00:00:37,000 --> 00:00:39,880
Speaker 4: To see you. I again will be channeling the Esteem

18
00:00:39,880 --> 00:00:42,159
Speaker 4: Saga excellent, so I will be making sure that the

19
00:00:42,600 --> 00:00:46,640
Speaker 4: populist right gets it's you know, it's full throated voice.

20
00:00:46,800 --> 00:00:49,680
Speaker 2: Maybe not full throated, you could lay off the full

21
00:00:49,760 --> 00:00:50,040
Speaker 2: throat it.

22
00:00:50,040 --> 00:00:53,080
Speaker 4: I'll give it straw man version of Sager's art fair

23
00:00:53,159 --> 00:00:54,400
Speaker 4: and then you can dismantle them.

24
00:00:54,520 --> 00:00:56,360
Speaker 2: Actually, I think we are going to have the one

25
00:00:56,400 --> 00:00:58,279
Speaker 2: and only Esteem Saga back next week.

26
00:00:58,400 --> 00:00:59,120
Speaker 4: Indeed we will.

27
00:00:59,320 --> 00:01:01,000
Speaker 3: Yeah, so you want to have to wait much longer

28
00:01:01,040 --> 00:01:01,200
Speaker 3: for that.

29
00:01:02,160 --> 00:01:04,600
Speaker 2: When I say today it's a Jim Pack show, there

30
00:01:04,680 --> 00:01:06,759
Speaker 2: are probably ten more things that we could have put

31
00:01:06,800 --> 00:01:07,640
Speaker 2: into this show that.

32
00:01:08,080 --> 00:01:10,559
Speaker 3: Got left on the what is it the cutting room floors?

33
00:01:10,600 --> 00:01:12,440
Speaker 4: That the expression and let's talk about one of those

34
00:01:12,480 --> 00:01:12,920
Speaker 4: real quick.

35
00:01:13,000 --> 00:01:13,200
Speaker 3: Yeah.

36
00:01:13,440 --> 00:01:17,840
Speaker 4: So Trump and Putin spoke yesterday about Ukraine's attack on

37
00:01:18,319 --> 00:01:22,160
Speaker 4: Russia the drone. Trump then posted on truth Social and

38
00:01:22,200 --> 00:01:26,200
Speaker 4: then deleted immediately, and then reposted again on truth Social

39
00:01:26,240 --> 00:01:30,400
Speaker 4: basically his own readout of the conversation with Putin, and

40
00:01:30,480 --> 00:01:33,680
Speaker 4: he said, Putin very angry. He's going to respond very strongly.

41
00:01:34,280 --> 00:01:36,840
Speaker 4: And Trump was just saying it matter of factly, like this,

42
00:01:37,120 --> 00:01:39,440
Speaker 4: like this is going to happen. And he also said

43
00:01:39,440 --> 00:01:42,920
Speaker 4: that he enlisted Putin's help to get closer to an

44
00:01:42,959 --> 00:01:46,480
Speaker 4: Iran deal. Now, the German Chancellor is coming here today

45
00:01:46,920 --> 00:01:49,840
Speaker 4: and he's having a Trump's having a call with she tomorrow.

46
00:01:50,640 --> 00:01:53,760
Speaker 4: And the Wall Street Journal this week said that people

47
00:01:53,920 --> 00:01:56,240
Speaker 4: need to start referring to this period no longer as

48
00:01:56,280 --> 00:02:00,520
Speaker 4: the post war period, but as now the pre war period. True,

49
00:02:01,440 --> 00:02:04,560
Speaker 4: which is an awfully scary thing to hear from the

50
00:02:04,600 --> 00:02:08,280
Speaker 4: Wall Street Journal, and they say it aspirationally, like they

51
00:02:08,400 --> 00:02:10,280
Speaker 4: want this to be the the pre war period, not

52
00:02:10,440 --> 00:02:14,320
Speaker 4: understanding that the greatest destructions of wealth in like human

53
00:02:14,440 --> 00:02:16,720
Speaker 4: history were World War One and World War two. Like

54
00:02:16,760 --> 00:02:19,359
Speaker 4: what Wall Street Journal readers like, you're not going to

55
00:02:19,919 --> 00:02:22,200
Speaker 4: like a few of you will do well, most of

56
00:02:22,240 --> 00:02:24,120
Speaker 4: you will lose your shirts, some of you will lose

57
00:02:24,120 --> 00:02:26,799
Speaker 4: your lives. Yeah, So anyway, we're getting very close to

58
00:02:27,040 --> 00:02:28,400
Speaker 4: a very dark time.

59
00:02:28,600 --> 00:02:31,960
Speaker 2: Yeah, I mean I think many people feel that and didn't.

60
00:02:31,960 --> 00:02:34,560
Speaker 2: I also see Trump said something like the drones swarm attack.

61
00:02:34,600 --> 00:02:36,200
Speaker 2: He thought it was badass, something like.

62
00:02:36,240 --> 00:02:41,799
Speaker 4: That, Yes, which is kind of anyway Trump, Yes, it's

63
00:02:41,880 --> 00:02:43,040
Speaker 4: like and maybe he hopes.

64
00:02:43,760 --> 00:02:46,400
Speaker 3: Ad nuclear war. Yeah, that's badass.

65
00:02:46,440 --> 00:02:48,639
Speaker 4: It feels great. Yeah, it's going to be a badass

66
00:02:48,840 --> 00:02:49,440
Speaker 4: world War three.

67
00:02:49,600 --> 00:02:51,519
Speaker 2: So anyway, that didn't make it into the show. But

68
00:02:52,120 --> 00:02:54,239
Speaker 2: we've got a new travel band from Trump as well.

69
00:02:54,360 --> 00:02:57,600
Speaker 2: Some other immigration news in terms of court decisions, we've

70
00:02:57,639 --> 00:03:00,520
Speaker 2: got new jobs numbers that came in quite We've got

71
00:03:00,600 --> 00:03:03,760
Speaker 2: new Elon Musk foulout. Bebe's coalition appears to be collapsing.

72
00:03:04,120 --> 00:03:07,079
Speaker 2: Democrats are studying men. My friend Torri is going to

73
00:03:07,160 --> 00:03:10,040
Speaker 2: join both to talk about Yeah, that's right, I'll just

74
00:03:10,080 --> 00:03:12,079
Speaker 2: sit back and let you gentlemen tell me what I

75
00:03:12,160 --> 00:03:13,760
Speaker 2: need to know. But we are going to let Joy

76
00:03:13,840 --> 00:03:15,799
Speaker 2: beharway on that. On that one is she has some

77
00:03:15,919 --> 00:03:19,560
Speaker 2: great ideas, she has thoughts. Tory is also going to

78
00:03:19,600 --> 00:03:22,680
Speaker 2: give us a diddy trial round up because he's been

79
00:03:22,720 --> 00:03:24,919
Speaker 2: following closely and posting a bunch of tiktoks about it.

80
00:03:25,240 --> 00:03:26,520
Speaker 3: He blew up on TikTok.

81
00:03:26,520 --> 00:03:28,760
Speaker 2: He's doing so well there and also actually has a

82
00:03:28,880 --> 00:03:31,120
Speaker 2: new show as well that he is involved with.

83
00:03:31,280 --> 00:03:33,280
Speaker 3: And then we had big news last night.

84
00:03:33,760 --> 00:03:35,640
Speaker 2: First of all, there's a debate in the New York

85
00:03:35,680 --> 00:03:39,360
Speaker 2: City Mayor's race, which has many very interesting moments that

86
00:03:39,480 --> 00:03:41,600
Speaker 2: I think you guys will be interested in. But then

87
00:03:41,680 --> 00:03:43,200
Speaker 2: when I woke up this morning, we got the news

88
00:03:43,280 --> 00:03:47,119
Speaker 2: that AOC did decide to jump in and endorse Zoron Mundani,

89
00:03:47,200 --> 00:03:50,840
Speaker 2: who is, as you guys probably know, the Democratic Socialist

90
00:03:51,080 --> 00:03:54,280
Speaker 2: challenger to front runner Andrew Cuomo. There's a bunch of

91
00:03:54,320 --> 00:03:56,360
Speaker 2: other people in this race too, but really it comes

92
00:03:56,400 --> 00:03:58,160
Speaker 2: down to is it going to be Cuomo or is

93
00:03:58,200 --> 00:03:58,840
Speaker 2: it going to be Mom.

94
00:03:58,800 --> 00:04:00,680
Speaker 4: Donnie At the end of the day two dog haunt

95
00:04:00,720 --> 00:04:01,360
Speaker 4: at this point.

96
00:04:01,440 --> 00:04:04,800
Speaker 2: Yeah, there's some yeah, well, we'll get to it, but

97
00:04:05,000 --> 00:04:06,520
Speaker 2: let's go ahead and start. We don't even have this

98
00:04:06,640 --> 00:04:08,960
Speaker 2: on the board yet because we've b added this in

99
00:04:09,120 --> 00:04:11,080
Speaker 2: yesterday evening as well, but wanted to make sure to

100
00:04:11,240 --> 00:04:14,440
Speaker 2: make mention of the fact Trump did announce a new

101
00:04:14,560 --> 00:04:20,080
Speaker 2: travel ban. He put out a video explaining his thinking

102
00:04:20,200 --> 00:04:22,280
Speaker 2: here and why he's imposing this. Now, let's go ahead

103
00:04:22,279 --> 00:04:22,920
Speaker 2: and take a listen to that.

104
00:04:23,360 --> 00:04:27,280
Speaker 5: The recent terror attack in Boulder, Colorado has underscored the

105
00:04:27,480 --> 00:04:31,040
Speaker 5: extreme dangers posed to our country by the entry of

106
00:04:31,120 --> 00:04:34,920
Speaker 5: foreign nationals who are not properly vetted, as well as

107
00:04:35,000 --> 00:04:38,760
Speaker 5: those who come here as temporary visitors and overstay their

108
00:04:38,920 --> 00:04:42,640
Speaker 5: visas we don't want them. In the twenty first century,

109
00:04:42,800 --> 00:04:46,120
Speaker 5: we've seen one terror attack after another carried out by

110
00:04:46,240 --> 00:04:50,800
Speaker 5: foreign visa overstairs from dangerous places all over the world,

111
00:04:50,960 --> 00:04:55,320
Speaker 5: and thanks to Biden's open door policies, today there are

112
00:04:55,440 --> 00:04:58,440
Speaker 5: millions and millions of these illegals who should not be

113
00:04:58,560 --> 00:05:02,280
Speaker 5: in our country. In my first term, my powerful travel

114
00:05:02,400 --> 00:05:06,560
Speaker 5: restrictions were one of our most successful policies, and they

115
00:05:06,640 --> 00:05:10,120
Speaker 5: were a key part of preventing major foreign terror attacks

116
00:05:10,160 --> 00:05:13,960
Speaker 5: on American soil. We will not let what happened in

117
00:05:14,120 --> 00:05:17,600
Speaker 5: Europe happen to America. That's why on my first day

118
00:05:17,720 --> 00:05:21,040
Speaker 5: back in office, I directed the Secretary of State to

119
00:05:21,120 --> 00:05:25,840
Speaker 5: perform a security review of high risk regions and make

120
00:05:25,920 --> 00:05:30,760
Speaker 5: recommendations for where restrictions should be imposed. Among the national

121
00:05:30,880 --> 00:05:36,360
Speaker 5: security threats their analysis considered are the large scale presence

122
00:05:36,440 --> 00:05:41,880
Speaker 5: of terrorists, failure to cooperate on visa security, inability to

123
00:05:42,120 --> 00:05:48,000
Speaker 5: verify travelers' identities, inadequate record keeping of criminal histories, and

124
00:05:48,600 --> 00:05:53,919
Speaker 5: persistently high rates of illegal visa overstays, and other things.

125
00:05:54,720 --> 00:05:58,359
Speaker 5: Very simply, we cannot have open migration from any country

126
00:05:58,760 --> 00:06:02,320
Speaker 5: where we cannot safely and reliably vet and screened those

127
00:06:02,360 --> 00:06:04,799
Speaker 5: who seek to enter the United States.

128
00:06:05,200 --> 00:06:08,440
Speaker 4: And this is an example of Trump two being prepared

129
00:06:08,440 --> 00:06:11,200
Speaker 4: in a way that Trump one wasn't. Because Trump one,

130
00:06:11,680 --> 00:06:13,320
Speaker 4: they do the Muslim ban right out of the gate.

131
00:06:13,839 --> 00:06:16,440
Speaker 4: It's ridiculous, it gets thrown out in court. Can't do

132
00:06:16,560 --> 00:06:17,719
Speaker 4: you can't do a Muslim.

133
00:06:17,440 --> 00:06:17,960
Speaker 1: Ban, right.

134
00:06:18,080 --> 00:06:20,040
Speaker 4: So then they look through over the next eight years,

135
00:06:20,080 --> 00:06:22,520
Speaker 4: looked and they sort of tried a version of it

136
00:06:22,600 --> 00:06:25,560
Speaker 4: in Trump won. But they looked through the bregs and

137
00:06:25,640 --> 00:06:27,560
Speaker 4: the laws and they're like, oh wait, so a president

138
00:06:27,680 --> 00:06:31,320
Speaker 4: can say that restriction from a particular country is restricted

139
00:06:31,360 --> 00:06:34,080
Speaker 4: if we say it's not because we're bigoted against Muslims,

140
00:06:34,800 --> 00:06:38,680
Speaker 4: but because of reasons. Right, So on day one he said,

141
00:06:39,000 --> 00:06:41,720
Speaker 4: State Department go find reasons for a variety of countries,

142
00:06:42,120 --> 00:06:46,920
Speaker 4: and noticeably they throw in a few non Muslim majority

143
00:06:47,000 --> 00:06:50,000
Speaker 4: countries so that you can't say that it's a Muslim ban.

144
00:06:50,160 --> 00:06:51,880
Speaker 2: Yeah, put them two up on the screen. This has

145
00:06:51,920 --> 00:06:54,360
Speaker 2: the list of a dozen I think countries that they

146
00:06:54,440 --> 00:06:55,360
Speaker 2: have picked.

147
00:06:55,160 --> 00:07:01,680
Speaker 4: Here, Afghanistan, Burmachad, Republic of Congo, Equatorial Guinea, Era A Haiti, Iron, Libyas,

148
00:07:01,680 --> 00:07:04,119
Speaker 4: and Maya su Dan Yemen. None of this is funny,

149
00:07:04,160 --> 00:07:07,839
Speaker 4: but I did see one good joke. It's man Equatorial

150
00:07:07,920 --> 00:07:11,400
Speaker 4: Guinea must have crossed the line. Okay, that's kind of bad,

151
00:07:11,760 --> 00:07:12,400
Speaker 4: but also.

152
00:07:12,280 --> 00:07:14,320
Speaker 3: Kind of good ultimate dad joke there again.

153
00:07:14,880 --> 00:07:18,880
Speaker 4: Yeah, again not funny. And then there's another seven similar

154
00:07:19,480 --> 00:07:22,680
Speaker 4: ish countries that are you know, getting restrictions but not

155
00:07:22,800 --> 00:07:27,800
Speaker 4: a total ban. So yeah, this is uh just slapdash

156
00:07:27,800 --> 00:07:33,720
Speaker 4: across the board, but designed to stand up in court.

157
00:07:33,920 --> 00:07:34,120
Speaker 3: Yeah.

158
00:07:34,120 --> 00:07:35,520
Speaker 2: And this was the thing is, it's not like they

159
00:07:35,600 --> 00:07:39,720
Speaker 2: needed much justification last time around. You just can't, you know,

160
00:07:40,320 --> 00:07:44,400
Speaker 2: like outright be like we are racist and discriminating against Muslims, right,

161
00:07:44,440 --> 00:07:47,120
Speaker 2: you had to give some fig leaf, and then yes,

162
00:07:47,200 --> 00:07:49,880
Speaker 2: the executive does have a you know a significant amount

163
00:07:49,920 --> 00:07:54,040
Speaker 2: of discretion. So I still expect this will face court challenges,

164
00:07:54,280 --> 00:07:56,680
Speaker 2: and you know, I don't want to like predict ultimately

165
00:07:56,680 --> 00:08:00,280
Speaker 2: where that goes, but it has a much more higher

166
00:08:00,360 --> 00:08:02,960
Speaker 2: likelihood of standing up in court than it did the

167
00:08:03,040 --> 00:08:05,080
Speaker 2: first time around. And the other thing people are raising

168
00:08:05,160 --> 00:08:07,160
Speaker 2: Ryan is like, we have a World Cup coming here,

169
00:08:08,400 --> 00:08:13,080
Speaker 2: and like there's exemptions in here for players from these countries,

170
00:08:13,120 --> 00:08:16,400
Speaker 2: but not from fans for fans from these countries. So

171
00:08:16,880 --> 00:08:19,960
Speaker 2: this has really obviously significant impact. Not to mention being

172
00:08:20,160 --> 00:08:23,200
Speaker 2: sort of overtly discriminatory and throw back to Trump one

173
00:08:23,200 --> 00:08:25,640
Speaker 2: point zero. The other thing that's worth mentioning is he

174
00:08:26,040 --> 00:08:30,240
Speaker 2: name checks there the Egyptian national who committed that terror

175
00:08:30,280 --> 00:08:33,160
Speaker 2: attack in Boulder, Colorado as justification.

176
00:08:33,240 --> 00:08:36,560
Speaker 3: I mean, Egypt isn't on this listy, but.

177
00:08:37,320 --> 00:08:39,559
Speaker 4: You know he's using this as is too important of

178
00:08:39,640 --> 00:08:40,560
Speaker 4: an ally to do this.

179
00:08:40,720 --> 00:08:43,760
Speaker 2: Exactly, Yeah, but he's using this as a pretext to say,

180
00:08:43,840 --> 00:08:46,319
Speaker 2: oh see, you know this is the justification creating.

181
00:08:46,080 --> 00:08:49,960
Speaker 4: A wrack because al Qaeda in Afghanistan attacked this exactly.

182
00:08:50,040 --> 00:08:53,240
Speaker 2: Yes, similar to that exactly. So in any case, I

183
00:08:53,520 --> 00:08:56,040
Speaker 2: don't think that that was the reason that he did this.

184
00:08:56,200 --> 00:08:58,720
Speaker 2: I think it, you know, was something that he used

185
00:08:58,720 --> 00:09:00,600
Speaker 2: to make the rhetorical case. But to your point, Ryan,

186
00:09:00,640 --> 00:09:02,600
Speaker 2: it looks like they've been working on this effectively from

187
00:09:02,679 --> 00:09:04,160
Speaker 2: day one to try to do this in a way

188
00:09:04,640 --> 00:09:07,000
Speaker 2: that may actually stand up in court. There was one

189
00:09:07,000 --> 00:09:09,760
Speaker 2: other piece of immigration news here that is quite significant

190
00:09:09,800 --> 00:09:10,680
Speaker 2: we wanted to get in the show.

191
00:09:10,760 --> 00:09:13,160
Speaker 3: Can put M four up on the screen that.

192
00:09:13,240 --> 00:09:18,480
Speaker 2: Federal Court Judge Boseburg here in DC issued ruling saying, Hey,

193
00:09:18,800 --> 00:09:21,920
Speaker 2: those people that you just swept up and sent to

194
00:09:22,040 --> 00:09:25,120
Speaker 2: El Salvador to Seacott, to brought in a concentration camp

195
00:09:25,200 --> 00:09:28,320
Speaker 2: for life with zero due process, you got to figure

196
00:09:28,360 --> 00:09:30,600
Speaker 2: out some way for them to be able to challenge

197
00:09:30,760 --> 00:09:35,800
Speaker 2: their removals. So, you know, obviously the Trump administration has

198
00:09:35,880 --> 00:09:39,559
Speaker 2: done everything they can to defy the courts, especially when

199
00:09:39,600 --> 00:09:42,240
Speaker 2: it comes to the migrants who were sent to Seacott.

200
00:09:42,920 --> 00:09:45,559
Speaker 2: So I don't expect anything imminent in terms of a

201
00:09:45,640 --> 00:09:49,000
Speaker 2: process that will enable these men who were you know,

202
00:09:49,120 --> 00:09:51,040
Speaker 2: sentenced to life and a gulog with no due process

203
00:09:51,480 --> 00:09:52,440
Speaker 2: to be able.

204
00:09:52,280 --> 00:09:54,559
Speaker 3: To challenge their detention there.

205
00:09:54,720 --> 00:09:56,800
Speaker 2: But this will you begin a process that will play

206
00:09:56,840 --> 00:09:58,160
Speaker 2: out through the courts and we'll see where it goes

207
00:09:58,200 --> 00:09:58,440
Speaker 2: from here.

208
00:09:58,559 --> 00:10:01,720
Speaker 4: Ryan, Yes, indeed, we have a programming note. We mentioned

209
00:10:01,760 --> 00:10:05,280
Speaker 4: this yesterday and the day before. For this month, we

210
00:10:05,400 --> 00:10:09,760
Speaker 4: are we're bringing back the monthly, so ten dollars a

211
00:10:09,800 --> 00:10:13,120
Speaker 4: month premium subscriptions to Brkingpoints that we used to have those,

212
00:10:13,840 --> 00:10:18,240
Speaker 4: then it switched to just annual. But you know, sometimes

213
00:10:18,280 --> 00:10:20,920
Speaker 4: it's tough to plunk down a whole hundred dollars, So

214
00:10:21,320 --> 00:10:24,400
Speaker 4: this is if you want to be a premium subscriber,

215
00:10:24,800 --> 00:10:26,520
Speaker 4: but you don't want to lay all that out all

216
00:10:26,559 --> 00:10:29,080
Speaker 4: at once, you can just do the monthly. And also,

217
00:10:29,520 --> 00:10:32,600
Speaker 4: in order to coax you in there, here's a free month.

218
00:10:32,760 --> 00:10:34,800
Speaker 4: So you go to Brekingpoints dot com and put the

219
00:10:34,880 --> 00:10:38,199
Speaker 4: promo code BP free. That is just for people watching this.

220
00:10:38,320 --> 00:10:41,439
Speaker 4: Do not share this with anybody. This is just this

221
00:10:41,600 --> 00:10:45,560
Speaker 4: is just between us, and you tell your friends and family, Yeah,

222
00:10:45,920 --> 00:10:47,719
Speaker 4: tell anybody, Don't tell anybody else other than that.

223
00:10:47,960 --> 00:10:51,000
Speaker 2: Yes, only the best people are allowed to avail themselves

224
00:10:51,040 --> 00:10:53,000
Speaker 2: of this offer. And you made a great point yesterday Ryan,

225
00:10:53,000 --> 00:10:55,079
Speaker 2: when we were talking about this have you noticed that

226
00:10:55,160 --> 00:10:57,720
Speaker 2: we don't subject to you to obnoxious ad reads where

227
00:10:57,720 --> 00:11:00,160
Speaker 2: we try to you know, hawk like a case only

228
00:11:00,200 --> 00:11:03,079
Speaker 2: disturbing products to you exactly. The reason is because of

229
00:11:03,120 --> 00:11:04,720
Speaker 2: you guys supporting us. And by the way, there's been

230
00:11:04,760 --> 00:11:06,760
Speaker 2: a big response to this promotion, so thank you guys

231
00:11:06,800 --> 00:11:08,480
Speaker 2: so much to those of you who have signed up.

232
00:11:08,720 --> 00:11:11,959
Speaker 4: And if we don't have a huge response, then we

233
00:11:12,120 --> 00:11:14,280
Speaker 4: will start reading ads. That is a that is not

234
00:11:14,360 --> 00:11:17,040
Speaker 4: a threat, that is a promise, and I will be

235
00:11:17,240 --> 00:11:20,079
Speaker 4: on air reading hymns ads and it won't be the

236
00:11:20,120 --> 00:11:24,000
Speaker 4: hair loss ones. So if you don't want to subject

237
00:11:24,040 --> 00:11:28,160
Speaker 4: yourself to that, Breakingpoints dot com the promo code is beef.

238
00:11:28,280 --> 00:11:30,000
Speaker 3: Some people might be into that, Ryan, I don't know.

239
00:11:30,280 --> 00:11:30,640
Speaker 3: I don't know.

240
00:11:31,000 --> 00:11:33,480
Speaker 4: Some people might be canceling right now. I don't want

241
00:11:33,480 --> 00:11:34,720
Speaker 4: to do I actually wouldn't do.

242
00:11:34,720 --> 00:11:38,160
Speaker 2: That, So don't there's some hardcore grim heads on there.

243
00:11:38,200 --> 00:11:40,240
Speaker 2: You never know, you never know what they might be into.

244
00:11:40,520 --> 00:11:45,560
Speaker 2: All right, let's move on from this some big news

245
00:11:45,640 --> 00:11:50,360
Speaker 2: with regard to the economy. An interesting exchange between a

246
00:11:50,480 --> 00:11:55,319
Speaker 2: Republican senator and Howard Lutnik asking about Hey, okay, so

247
00:11:55,760 --> 00:11:58,760
Speaker 2: what does Vietnam? As one example, actually need to do

248
00:11:59,400 --> 00:12:01,160
Speaker 2: to be able to come to some sort of a

249
00:12:01,280 --> 00:12:04,800
Speaker 2: beneficial trade deal with this administration. Let's go ahead and

250
00:12:04,800 --> 00:12:05,840
Speaker 2: take a listen to this exchange.

251
00:12:06,520 --> 00:12:10,679
Speaker 6: If Vietnam, for example, came to you tomorrow and said, okay,

252
00:12:10,920 --> 00:12:15,520
Speaker 6: mister Secretary, you win. We're going to remove all tariffs

253
00:12:16,800 --> 00:12:23,760
Speaker 6: and all trade barriers. Would the United States please do

254
00:12:23,880 --> 00:12:29,199
Speaker 6: the same? Would you accept that deal? Absolutely not? Absolutely not.

255
00:12:29,320 --> 00:12:31,400
Speaker 6: That would be the silliest thing we could do. Why

256
00:12:31,520 --> 00:12:36,559
Speaker 6: is that Vietnam has a one hundred.

257
00:12:36,280 --> 00:12:41,520
Speaker 7: And twenty five billion dollars exports to US and imports

258
00:12:41,600 --> 00:12:44,600
Speaker 7: from US twelve and a half million dollars. And you're

259
00:12:44,640 --> 00:12:47,920
Speaker 7: thinking Vietnam exports one hundred and twenty five billion.

260
00:12:48,320 --> 00:12:50,199
Speaker 6: I'm aware of the figures, but tell me where do

261
00:12:50,240 --> 00:12:50,720
Speaker 6: they get it from?

262
00:12:50,800 --> 00:12:53,640
Speaker 7: The buy ninety billion from China? Then they mark it

263
00:12:53,720 --> 00:12:55,559
Speaker 7: up and send it to us, So it was just

264
00:12:55,679 --> 00:12:56,560
Speaker 7: a patent way of.

265
00:12:56,640 --> 00:12:57,320
Speaker 5: China to us.

266
00:12:57,559 --> 00:12:58,840
Speaker 6: You wouldn't accept that deal.

267
00:12:59,040 --> 00:12:59,840
Speaker 4: No, it's terrible.

268
00:13:00,160 --> 00:13:02,160
Speaker 7: We're the one with money, We're the one with the store.

269
00:13:03,559 --> 00:13:08,000
Speaker 6: What's the purpose of reciprocity then? Is reciprocity not one

270
00:13:08,040 --> 00:13:11,199
Speaker 6: of your goals? Are you telling the President that we

271
00:13:11,280 --> 00:13:15,360
Speaker 6: shouldn't seek reciprocity. If that's what you're telling them, why

272
00:13:15,360 --> 00:13:18,280
Speaker 6: are you trying to do these trade deals? So you

273
00:13:18,800 --> 00:13:22,840
Speaker 6: are you are you not seeking reciprocity in these trade deals?

274
00:13:23,320 --> 00:13:27,600
Speaker 7: We are thinking, we are absolutely seeking reciprocity with respective

275
00:13:27,679 --> 00:13:31,640
Speaker 7: things that can be recipable for China and sending.

276
00:13:32,040 --> 00:13:34,079
Speaker 6: I said that if a country came to you and

277
00:13:34,240 --> 00:13:41,119
Speaker 6: offered you the ultimate reciprocity, no tariffs, no trade barriers

278
00:13:41,800 --> 00:13:44,520
Speaker 6: in return for us doing the same, you would reject.

279
00:13:44,200 --> 00:13:46,600
Speaker 7: That, of course, because they buy from China and send

280
00:13:46,679 --> 00:13:47,040
Speaker 7: it to us.

281
00:13:47,240 --> 00:13:49,240
Speaker 4: Don't you agree with those They said, we won't buy

282
00:13:49,320 --> 00:13:49,839
Speaker 4: from China.

283
00:13:50,440 --> 00:13:52,640
Speaker 2: Now we're talking, and there's actually a lot to say

284
00:13:52,640 --> 00:13:55,200
Speaker 2: about this with regard to Vietnam specifically, what he's referring

285
00:13:55,240 --> 00:13:57,719
Speaker 2: to there is the issue of what they call it transhipping,

286
00:13:57,760 --> 00:13:59,960
Speaker 2: where it's like, okay, well we've got terrors on China,

287
00:14:00,559 --> 00:14:04,000
Speaker 2: but maybe some companies will just ship their goods from China.

288
00:14:04,080 --> 00:14:05,720
Speaker 2: This is illegal, by the way, but it still happens.

289
00:14:05,760 --> 00:14:07,840
Speaker 2: We'll ship their goods from China to Vietnam to avoid

290
00:14:07,880 --> 00:14:12,559
Speaker 2: the tariff. There has been also an effort in subsequent

291
00:14:12,880 --> 00:14:17,480
Speaker 2: US administrations to actually try to relocate manufacturing from China

292
00:14:17,640 --> 00:14:22,040
Speaker 2: to Vietnam, you know, to sort of since we have

293
00:14:22,120 --> 00:14:24,400
Speaker 2: a close relationship with them, friendly relationship with them at

294
00:14:24,400 --> 00:14:28,000
Speaker 2: this point. But it's this is exactly the problem and

295
00:14:28,080 --> 00:14:30,560
Speaker 2: why they have zero trade deals effectively at this point

296
00:14:31,000 --> 00:14:33,240
Speaker 2: is because if you say to a country, like even

297
00:14:33,280 --> 00:14:35,720
Speaker 2: if you lower your tariff barrier to zero, that is

298
00:14:35,760 --> 00:14:38,000
Speaker 2: still a terrible deal that we won't take, like what.

299
00:14:38,520 --> 00:14:41,400
Speaker 4: Can you do? Right? And to Channel Sager and also

300
00:14:41,720 --> 00:14:44,240
Speaker 4: like Matt Stoller here, they would point out that the

301
00:14:44,320 --> 00:14:48,600
Speaker 4: Commerce Department, even under Biden, did an investigation into this

302
00:14:48,760 --> 00:14:51,720
Speaker 4: was in particular with the renewable energy clean energy industry

303
00:14:52,400 --> 00:14:55,560
Speaker 4: that China was basically shipping a whole bunch of stuff,

304
00:14:56,160 --> 00:14:58,800
Speaker 4: producing the things in China, moving them to Vietnam and

305
00:14:58,880 --> 00:15:02,480
Speaker 4: then getting around kind of bans on yeah, monopoly.

306
00:15:02,600 --> 00:15:05,000
Speaker 2: Because there's also another thing you can do to try

307
00:15:05,040 --> 00:15:07,600
Speaker 2: to skirt the rules is you you know, have it

308
00:15:07,720 --> 00:15:10,200
Speaker 2: all but assembled and then ship it to Vietnam and

309
00:15:10,240 --> 00:15:11,920
Speaker 2: then there's just you know, building where they just sort

310
00:15:11,920 --> 00:15:14,240
Speaker 2: of put the pieces together and then claim, okay, this

311
00:15:14,400 --> 00:15:16,480
Speaker 2: is made in Vietnam instead of China.

312
00:15:16,560 --> 00:15:18,720
Speaker 4: Right, And so he says, hey, look if and what

313
00:15:18,840 --> 00:15:20,760
Speaker 4: if they say they won't take the stuff from China anymore.

314
00:15:21,080 --> 00:15:25,000
Speaker 4: He says, now now we're talking. But again, the problem

315
00:15:25,080 --> 00:15:28,960
Speaker 4: here is that they're talking as if this trade war

316
00:15:29,080 --> 00:15:32,280
Speaker 4: is still going on as a strategic thing that may

317
00:15:32,680 --> 00:15:36,280
Speaker 4: result in some useful outcome for the United States, when

318
00:15:36,560 --> 00:15:39,960
Speaker 4: it seems like the world has decided that we don't

319
00:15:40,000 --> 00:15:44,440
Speaker 4: have cards, that Trump just kind of popped off with

320
00:15:44,600 --> 00:15:46,800
Speaker 4: these tariffs and is going to have to climb down,

321
00:15:47,960 --> 00:15:50,360
Speaker 4: and so they're just kind of waiting them out. And

322
00:15:50,840 --> 00:15:53,360
Speaker 4: then after that maybe they're making the time to be

323
00:15:53,400 --> 00:15:55,960
Speaker 4: able to sit down and create some you know, new

324
00:15:56,040 --> 00:15:58,560
Speaker 4: global trade regime that we're all satisfied with. But this,

325
00:15:59,480 --> 00:16:00,760
Speaker 4: this is not getting us there.

326
00:16:00,920 --> 00:16:03,760
Speaker 2: Yeah, and of course significant that it's a Republican senator

327
00:16:03,840 --> 00:16:07,680
Speaker 2: who was going that aggressive at a Trump administration official

328
00:16:07,840 --> 00:16:12,880
Speaker 2: is rather noteworthy. Had some really bad jobs numbers yesterday

329
00:16:12,920 --> 00:16:15,360
Speaker 2: that came out in the ADP Private Payrolls report.

330
00:16:15,680 --> 00:16:18,320
Speaker 3: This isn't the big one that gets the most attention,

331
00:16:18,440 --> 00:16:19,760
Speaker 3: but also, you know.

332
00:16:19,840 --> 00:16:22,360
Speaker 2: Significant, it was Friday, The big boy is Friday, and

333
00:16:22,520 --> 00:16:25,040
Speaker 2: oftentimes you know, this one sort of front runs. Now

334
00:16:25,080 --> 00:16:27,440
Speaker 2: sometimes they're totally disconnected and they show different numbers, but

335
00:16:27,520 --> 00:16:29,760
Speaker 2: sometimes this is also indicative of what we could expect

336
00:16:30,040 --> 00:16:31,800
Speaker 2: on Friday, So put this up on the screen. Wanted

337
00:16:31,840 --> 00:16:34,280
Speaker 2: to make sure to highlight this. Private sector hiring rose

338
00:16:34,320 --> 00:16:36,960
Speaker 2: by just thirty seven thousand in May, so I mean

339
00:16:37,080 --> 00:16:40,520
Speaker 2: nearly flat. The expectation was that it would be one

340
00:16:40,600 --> 00:16:44,600
Speaker 2: hundred and ten thousand. That was the forecast, and it

341
00:16:44,840 --> 00:16:48,680
Speaker 2: is below the previous jobs report number in April, which

342
00:16:48,760 --> 00:16:53,320
Speaker 2: was revised down to sixty thousand. And in particular noteworthy

343
00:16:53,360 --> 00:16:56,200
Speaker 2: here Ryan that one of the industries that actually lost

344
00:16:56,320 --> 00:16:58,040
Speaker 2: jobs was manufacturing.

345
00:16:58,120 --> 00:17:01,240
Speaker 4: Yeah, I have that here. Goods per ducing industries down

346
00:17:01,720 --> 00:17:06,879
Speaker 4: two thousand jobs, manufacturing down three thousand, natural resources and

347
00:17:07,000 --> 00:17:12,400
Speaker 4: mining down five thousand. If the tariffs were creating investment

348
00:17:12,520 --> 00:17:15,399
Speaker 4: here in the United States to produce goods here, to

349
00:17:15,520 --> 00:17:19,200
Speaker 4: min our own natural resources, and to manufacture, you would

350
00:17:19,240 --> 00:17:22,800
Speaker 4: not see the numbers going down. We were not prepared

351
00:17:23,920 --> 00:17:27,600
Speaker 4: to go into this trade war, which is incredible because

352
00:17:27,600 --> 00:17:30,119
Speaker 4: it's not as if anybody sprung this on us like

353
00:17:30,560 --> 00:17:33,520
Speaker 4: this was. We chose the time and the place right

354
00:17:33,720 --> 00:17:36,000
Speaker 4: trade war, but had nothing.

355
00:17:35,720 --> 00:17:37,200
Speaker 3: To cut ourselves unawares.

356
00:17:37,400 --> 00:17:40,640
Speaker 4: We caught ourselves unawares. We had nothing ready for this. Yeah,

357
00:17:40,800 --> 00:17:43,200
Speaker 4: and China's like, hey, all those things you need for

358
00:17:43,240 --> 00:17:46,840
Speaker 4: your manufacturing industry, we're also going to restrict those. And

359
00:17:46,840 --> 00:17:50,720
Speaker 4: We're like, that's deeply unfair. How could you do that

360
00:17:50,880 --> 00:17:52,920
Speaker 4: to us? How rude?

361
00:17:53,480 --> 00:17:53,960
Speaker 3: Incredible?

362
00:17:54,080 --> 00:17:58,160
Speaker 4: This is utterly outrageous, incredible.

363
00:17:58,119 --> 00:18:00,720
Speaker 2: And actually, let's go ahead and put the next piece

364
00:18:00,800 --> 00:18:02,520
Speaker 2: up on the screen because this is in This is

365
00:18:02,560 --> 00:18:04,440
Speaker 2: a CBO estimate which I don't even know how you

366
00:18:04,560 --> 00:18:06,440
Speaker 2: estimate the impact of these tariffs, and too the held.

367
00:18:06,560 --> 00:18:08,159
Speaker 4: Right, this assumes that they're going to what they're going

368
00:18:08,240 --> 00:18:08,920
Speaker 4: to be right.

369
00:18:09,840 --> 00:18:13,000
Speaker 2: But anyway, the Congressional Budget Office, which we're going to

370
00:18:13,080 --> 00:18:15,359
Speaker 2: talk more about in the big beautiful bill block, they

371
00:18:15,440 --> 00:18:17,760
Speaker 2: did an analysis and they got, Okay, if we left

372
00:18:17,800 --> 00:18:21,520
Speaker 2: this in place, because of the tariff revenue, you would

373
00:18:21,600 --> 00:18:24,240
Speaker 2: see a reduction in the federal deficit by two point

374
00:18:24,240 --> 00:18:28,120
Speaker 2: eight trillion dollars over ten years. But the double edged

375
00:18:28,160 --> 00:18:29,920
Speaker 2: sword of that is, on the other hand, they say,

376
00:18:30,000 --> 00:18:33,440
Speaker 2: real economic output will fall on net, meaning that you're

377
00:18:33,480 --> 00:18:36,719
Speaker 2: going to have a smaller economy, And if you are

378
00:18:36,800 --> 00:18:40,600
Speaker 2: collecting a high level of tariff revenue, that means ryan

379
00:18:40,680 --> 00:18:44,359
Speaker 2: you have not actually been successful at reshoring those industries.

380
00:18:44,680 --> 00:18:46,440
Speaker 2: So this is why we talk about when you know,

381
00:18:46,520 --> 00:18:50,399
Speaker 2: when Trump talks about two goals, one is restoring manufacturer

382
00:18:50,440 --> 00:18:53,560
Speaker 2: reindustrializing the country, the other being getting a whole bunch

383
00:18:53,560 --> 00:18:55,760
Speaker 2: of tariff revenue in those two things are.

384
00:18:55,760 --> 00:18:59,480
Speaker 3: Actually at odds. The more that you reshore production, the

385
00:18:59,600 --> 00:19:00,600
Speaker 3: lower the tariff.

386
00:19:00,359 --> 00:19:02,760
Speaker 2: Revenue is ultimately going to because obviously you'd be buying

387
00:19:02,800 --> 00:19:05,199
Speaker 2: those goods domestically rather than importing them from abroad.

388
00:19:05,560 --> 00:19:09,280
Speaker 4: And the zero point four percentage point inflation over each

389
00:19:09,320 --> 00:19:11,440
Speaker 4: of the next two years that the CBO includes in

390
00:19:11,560 --> 00:19:15,240
Speaker 4: that analysis is quite significant. Like if your target for

391
00:19:15,320 --> 00:19:19,040
Speaker 4: inflation annually is two percent, you know that's that's twenty

392
00:19:19,080 --> 00:19:23,359
Speaker 4: percent higher than your target, just just for that. And again,

393
00:19:23,640 --> 00:19:28,040
Speaker 4: this assumes that they stay flat or that the policy

394
00:19:28,080 --> 00:19:33,159
Speaker 4: doesn't change, which the policy has changed. I can't even

395
00:19:33,200 --> 00:19:36,520
Speaker 4: count the number of times just since Liberation Day.

396
00:19:37,280 --> 00:19:41,280
Speaker 2: So there's already been policy of vacillation before Liberation Day.

397
00:19:41,640 --> 00:19:43,359
Speaker 4: So it doesn't make any sense to think that they

398
00:19:43,359 --> 00:19:44,920
Speaker 4: would they'll stay this way for ten years.

399
00:19:45,080 --> 00:19:47,600
Speaker 2: Yeah, especially when you consider another administration. I mean, all

400
00:19:47,680 --> 00:19:49,760
Speaker 2: of it is incredibly uncertain. It's almost worthless to do

401
00:19:49,800 --> 00:19:51,720
Speaker 2: an analysis. But anyway, that's what they're saying. If you

402
00:19:51,800 --> 00:19:54,119
Speaker 2: left the tariffs in place. A couple of things we

403
00:19:54,160 --> 00:19:57,359
Speaker 2: want to highlight here in terms of fallout already, you know,

404
00:19:57,480 --> 00:20:00,520
Speaker 2: early indications of where things could be heading. This interesting

405
00:20:00,560 --> 00:20:02,600
Speaker 2: put a four up on the screen. So the Trump

406
00:20:02,960 --> 00:20:05,879
Speaker 2: officials delayed this report on farm trade.

407
00:20:05,680 --> 00:20:07,400
Speaker 3: Because they didn't like what it said.

408
00:20:08,119 --> 00:20:12,640
Speaker 2: Effectively, the report indicated that the trade deficit in farm

409
00:20:12,680 --> 00:20:15,800
Speaker 2: goods had actually increased, and Republicans had made a bunch

410
00:20:15,840 --> 00:20:19,440
Speaker 2: of hay over a increase in the farm trade deficit

411
00:20:19,600 --> 00:20:22,760
Speaker 2: during the Biden administration. So rather than just you know,

412
00:20:22,920 --> 00:20:25,280
Speaker 2: going ahead of schedule, putting out the report on time,

413
00:20:25,640 --> 00:20:28,560
Speaker 2: or revealing these numbers that are uncomfortable and inconvenient for

414
00:20:28,600 --> 00:20:31,520
Speaker 2: the Trump administration policy, they just pushed the report off.

415
00:20:31,600 --> 00:20:33,000
Speaker 2: And then some of the numbers they're just like, yeah,

416
00:20:33,000 --> 00:20:34,520
Speaker 2: we're just not going to put that part out.

417
00:20:35,200 --> 00:20:37,119
Speaker 4: And the written analysis they haven't put out yet and

418
00:20:37,359 --> 00:20:39,720
Speaker 4: they're not even sure if they're going to. Now the

419
00:20:40,200 --> 00:20:44,080
Speaker 4: analysts are saying that the redacted version does match the

420
00:20:44,200 --> 00:20:46,639
Speaker 4: original version, so like they didn't actually and in the

421
00:20:46,760 --> 00:20:51,320
Speaker 4: end monkey with the numbers. But this goes to what

422
00:20:52,080 --> 00:20:55,719
Speaker 4: Trump keeps doing, which is cutting off at the knees.

423
00:20:55,840 --> 00:20:59,680
Speaker 4: The real US advantages that we have globally, and I

424
00:21:00,080 --> 00:21:01,960
Speaker 4: I agree with Trump that we need to you know,

425
00:21:02,119 --> 00:21:05,440
Speaker 4: rearrange our economic relationships and that and that the way

426
00:21:05,480 --> 00:21:08,680
Speaker 4: the global trade is set up is damaging to everybody

427
00:21:08,840 --> 00:21:11,480
Speaker 4: and should be rethought. But if you're going to rethink it,

428
00:21:11,560 --> 00:21:13,800
Speaker 4: you have to you have to build on what you

429
00:21:14,000 --> 00:21:19,040
Speaker 4: have and then you go from there to transform into

430
00:21:19,160 --> 00:21:22,680
Speaker 4: something better. What he's doing without building something better, he's

431
00:21:22,840 --> 00:21:25,160
Speaker 4: wiping out what we do have and that and one

432
00:21:25,200 --> 00:21:27,200
Speaker 4: of the things, you know, going after all the universities

433
00:21:27,280 --> 00:21:30,120
Speaker 4: is one. Making it impossible to build a manufacturing base

434
00:21:30,520 --> 00:21:33,080
Speaker 4: is another. But what this does is it goes right

435
00:21:33,119 --> 00:21:38,760
Speaker 4: to the heart of our hub as the financial services

436
00:21:38,840 --> 00:21:44,960
Speaker 4: sector for the global economy. Like people and this is

437
00:21:45,119 --> 00:21:49,160
Speaker 4: crazy to think people trust American banks, right and people

438
00:21:49,240 --> 00:21:53,439
Speaker 4: trust American financial analysts. We don't. We have all sorts

439
00:21:53,480 --> 00:21:57,000
Speaker 4: of you know, macro corruption, but on a micro level,

440
00:21:57,520 --> 00:22:00,680
Speaker 4: people trust that if you give your money to JP

441
00:22:00,880 --> 00:22:03,200
Speaker 4: Morgan Chase, you know, you give you give your money

442
00:22:03,200 --> 00:22:05,200
Speaker 4: to Bank of America, you get a loan from them,

443
00:22:06,400 --> 00:22:10,800
Speaker 4: Your your your pension is whatever it is, like, it's

444
00:22:10,840 --> 00:22:12,200
Speaker 4: going to stay there. It's going to be there, and

445
00:22:12,240 --> 00:22:14,639
Speaker 4: it's going to be and the terms are going the

446
00:22:15,080 --> 00:22:17,160
Speaker 4: the activity is going to match the terms that you're offered,

447
00:22:17,320 --> 00:22:21,159
Speaker 4: and so on. Part that that that trust is very

448
00:22:21,240 --> 00:22:23,720
Speaker 4: hard to win back, and part of the trust comes

449
00:22:23,760 --> 00:22:29,639
Speaker 4: from the government data being considered reliable by everybody across

450
00:22:29,680 --> 00:22:33,440
Speaker 4: the board. And you're already seeing I think we're talking

451
00:22:33,440 --> 00:22:36,480
Speaker 4: about this in a second. People questioning the BLS data

452
00:22:37,080 --> 00:22:39,760
Speaker 4: because the Bureau of Labor Statistics has said that there's

453
00:22:39,800 --> 00:22:41,240
Speaker 4: this hiring freeze. They had to do a bunch of

454
00:22:41,320 --> 00:22:43,920
Speaker 4: layoffs and so they couldn't do the same analysis that

455
00:22:43,960 --> 00:22:45,879
Speaker 4: they could do before. They're like, we're not We're not

456
00:22:45,920 --> 00:22:48,520
Speaker 4: sure about these numbers. And what's so scary now? The

457
00:22:48,600 --> 00:22:52,080
Speaker 4: commodities traders have waiting for this report. This is like

458
00:22:52,200 --> 00:22:54,639
Speaker 4: every quarter this report comes out, people trade. It's a

459
00:22:54,680 --> 00:22:57,320
Speaker 4: big event. For it not to be there, and then

460
00:22:57,400 --> 00:22:59,960
Speaker 4: for people to be whispering, are they are they mess

461
00:23:00,200 --> 00:23:00,760
Speaker 4: with the numbers?

462
00:23:01,080 --> 00:23:01,199
Speaker 8: Right?

463
00:23:02,520 --> 00:23:04,840
Speaker 4: Then you might as well be investing in China. That's

464
00:23:05,119 --> 00:23:07,520
Speaker 4: China's big problem is people don't trust the stock market.

465
00:23:07,560 --> 00:23:09,640
Speaker 4: People don't trust the numbers coming out of the companies

466
00:23:09,680 --> 00:23:12,520
Speaker 4: or the government. They think they're fudging the GDP raid

467
00:23:12,680 --> 00:23:15,080
Speaker 4: all this stuff sometimes they are sometimes y'or not, but

468
00:23:15,160 --> 00:23:17,720
Speaker 4: that just the trust isn't there. We have the trust

469
00:23:18,080 --> 00:23:21,399
Speaker 4: and we're just gonna, uh just let it drain right out.

470
00:23:21,520 --> 00:23:24,200
Speaker 2: There was discussion early on in this administration too. I

471
00:23:24,240 --> 00:23:26,159
Speaker 2: can't remember if it was Lutnik or bussn't, but I

472
00:23:26,240 --> 00:23:28,480
Speaker 2: covered it at the time of changing the way GDP

473
00:23:28,640 --> 00:23:31,760
Speaker 2: is calculated, because they you know, this was at the

474
00:23:31,800 --> 00:23:34,240
Speaker 2: height of DOGE and the chainsaw and all this stuff,

475
00:23:34,240 --> 00:23:37,239
Speaker 2: and they're like, government activities shouldn't count in GDP, right,

476
00:23:37,560 --> 00:23:40,640
Speaker 2: which is like so silly if you actually think it through.

477
00:23:40,960 --> 00:23:44,040
Speaker 3: Not to mention there actually already is a metric that I.

478
00:23:44,080 --> 00:23:46,440
Speaker 2: Can't remember it's called, but it is a measure GDP

479
00:23:46,640 --> 00:23:49,480
Speaker 2: without the you know, government and public sector spending. So

480
00:23:49,600 --> 00:23:52,399
Speaker 2: if you want that metric, it already exists. They just

481
00:23:52,480 --> 00:23:55,480
Speaker 2: didn't like the potential consequences of what they were doing

482
00:23:55,520 --> 00:23:58,520
Speaker 2: with DOGE on what it could mean with GDP, and

483
00:23:58,720 --> 00:24:01,200
Speaker 2: so they're you know, at that point, there were a

484
00:24:01,280 --> 00:24:03,360
Speaker 2: bunch of you know, a bunch of experts and analysts

485
00:24:03,359 --> 00:24:06,600
Speaker 2: who raise red flags about them potentially monking with that

486
00:24:06,760 --> 00:24:09,720
Speaker 2: data behind the scenes or you know, trying to fudge

487
00:24:09,760 --> 00:24:12,040
Speaker 2: the number. So that they are beneficial, and I mean,

488
00:24:12,080 --> 00:24:13,399
Speaker 2: could you put that passes I measure?

489
00:24:13,400 --> 00:24:15,480
Speaker 3: Of course you couldn't, Right, of course you couldn't. Like

490
00:24:15,600 --> 00:24:18,760
Speaker 3: they will lie to you straight to your face. Every day.

491
00:24:19,119 --> 00:24:23,160
Speaker 2: You will be confronted with directly contradictory, like definitive proof

492
00:24:23,280 --> 00:24:25,600
Speaker 2: that what they're saying is blatant, complete lies, and it

493
00:24:25,760 --> 00:24:27,000
Speaker 2: does not move them at all.

494
00:24:27,160 --> 00:24:30,800
Speaker 4: The Carolin Levitt saying that the bill actually decreases the.

495
00:24:30,800 --> 00:24:33,639
Speaker 2: Depth exactly, and yeah, yeah, and you're supposed to trust

496
00:24:33,720 --> 00:24:35,560
Speaker 2: that they're not going to like monkey with the GDP

497
00:24:35,800 --> 00:24:37,880
Speaker 2: or the jobs or the farm trade numbers.

498
00:24:38,000 --> 00:24:40,159
Speaker 3: Like of course people are going to be like, I.

499
00:24:40,160 --> 00:24:42,399
Speaker 2: Don't know, if something that looked kind of bad was

500
00:24:42,480 --> 00:24:45,240
Speaker 2: set to come out, I could definitely see them just

501
00:24:45,359 --> 00:24:47,440
Speaker 2: kind of let's round it this way, let's round it

502
00:24:47,480 --> 00:24:49,479
Speaker 2: that way, let's push it off, let's just not let

503
00:24:49,520 --> 00:24:50,720
Speaker 2: these numbers get down to the public.

504
00:24:51,119 --> 00:24:53,600
Speaker 4: And the other the advantage China does have is that

505
00:24:53,840 --> 00:24:57,280
Speaker 4: when their government wants to do things, you know, they

506
00:24:57,320 --> 00:25:01,520
Speaker 4: are broadly in strategic control of their of the direction

507
00:25:02,200 --> 00:25:04,639
Speaker 4: that they're going to take, and the companies have to

508
00:25:04,720 --> 00:25:08,840
Speaker 4: then feed off of that and follow along. Here not

509
00:25:09,000 --> 00:25:11,159
Speaker 4: the case, so you can put up this next element

510
00:25:11,800 --> 00:25:15,240
Speaker 4: axios reporting same thing we saw in the Biden administration

511
00:25:15,440 --> 00:25:18,480
Speaker 4: during COVID, but now and supply chains. But now this

512
00:25:18,680 --> 00:25:21,840
Speaker 4: time companies maybe using the new tariffs as an excuse

513
00:25:21,920 --> 00:25:25,840
Speaker 4: to raise prices across the board. Uh again, So we

514
00:25:25,920 --> 00:25:30,119
Speaker 4: saw this during COVID. You started seeing inflation kick in,

515
00:25:30,240 --> 00:25:32,760
Speaker 4: and all of these companies who had who have market

516
00:25:32,880 --> 00:25:36,240
Speaker 4: power in other words, you can't go somewhere else to

517
00:25:36,359 --> 00:25:41,359
Speaker 4: get the thing, started raising their prices and blaming COVID

518
00:25:41,560 --> 00:25:44,159
Speaker 4: or blaming supply chains. And then when you looked into it,

519
00:25:44,240 --> 00:25:47,960
Speaker 4: oh wow, their profits are way up, and their profits

520
00:25:47,960 --> 00:25:52,000
Speaker 4: are you know, significantly up over you know what the

521
00:25:52,200 --> 00:25:56,000
Speaker 4: input costs are. And so what they what they did

522
00:25:56,080 --> 00:25:59,040
Speaker 4: here with this report is they looked at companies that

523
00:25:59,160 --> 00:26:04,320
Speaker 4: do not have tariff related implications right, and saw significant

524
00:26:04,480 --> 00:26:05,680
Speaker 4: increases there as well.

525
00:26:05,920 --> 00:26:07,560
Speaker 2: Well some of them admitt So you have a heavy

526
00:26:07,560 --> 00:26:09,959
Speaker 2: construction equipment supplier told the New York Fed they were

527
00:26:10,000 --> 00:26:13,200
Speaker 2: raising prices on goods unaffected by tariffs, quote to enjoy

528
00:26:13,400 --> 00:26:16,359
Speaker 2: the extra margin before teriffs did increase their costs.

529
00:26:16,640 --> 00:26:17,040
Speaker 3: I thought it.

530
00:26:17,240 --> 00:26:18,600
Speaker 4: Extra margins are very enjoyable.

531
00:26:18,640 --> 00:26:21,080
Speaker 2: Of course, I'd like to enjoy those extra margins. What

532
00:26:21,200 --> 00:26:24,080
Speaker 2: company wouldn't want to enjoy those extra margins. Some of

533
00:26:24,240 --> 00:26:28,000
Speaker 2: what is being done is somewhat justifiable because rather than

534
00:26:28,560 --> 00:26:32,160
Speaker 2: putting the entire cost of one tariff on one good,

535
00:26:32,280 --> 00:26:35,200
Speaker 2: they're like spreading it across. But there's a a I

536
00:26:35,280 --> 00:26:38,120
Speaker 2: didn't really I just learned this recently. There's an industry

537
00:26:38,240 --> 00:26:42,440
Speaker 2: term called taking price, which effectively is when.

538
00:26:42,280 --> 00:26:44,840
Speaker 3: Your competitor or when you have the opportunity.

539
00:26:44,680 --> 00:26:46,600
Speaker 2: To raise prices and you have some sort of an

540
00:26:46,640 --> 00:26:49,280
Speaker 2: excuse you're going to do it. You're going to take price.

541
00:26:49,359 --> 00:26:51,240
Speaker 2: And we also know from the COVID shocks that once

542
00:26:51,280 --> 00:26:53,960
Speaker 2: those prices go up, guess what they're not rushing to

543
00:26:54,280 --> 00:26:56,760
Speaker 2: even after if they had real cost increases.

544
00:26:56,920 --> 00:26:59,320
Speaker 3: Once those costs go back down, your prices do not

545
00:26:59,440 --> 00:26:59,920
Speaker 3: go back down.

546
00:27:00,080 --> 00:27:01,120
Speaker 4: You're going to give up price.

547
00:27:01,359 --> 00:27:03,600
Speaker 3: Now, once you've taken that price, you're not going to

548
00:27:03,680 --> 00:27:04,400
Speaker 3: give up that price.

549
00:27:04,680 --> 00:27:08,960
Speaker 4: So yeah, yeah, And so meanwhile Trump is finding that, yeah,

550
00:27:09,920 --> 00:27:12,760
Speaker 4: things with Negotia with China not as easy as he

551
00:27:12,840 --> 00:27:16,160
Speaker 4: thought it was going to be. He's talking to she tomorrow.

552
00:27:16,440 --> 00:27:18,520
Speaker 4: He's been pining for this, and put this next element

553
00:27:18,560 --> 00:27:20,360
Speaker 4: from The New York Times up on the screen. He's

554
00:27:20,400 --> 00:27:22,160
Speaker 4: been pining for this call for a very long time.

555
00:27:22,960 --> 00:27:26,600
Speaker 4: Crazy headline the Times, Trump bemoans how quote hard it

556
00:27:26,720 --> 00:27:28,600
Speaker 4: is to strike a China deal with with hard and

557
00:27:29,800 --> 00:27:32,760
Speaker 4: yes it does. It's like New York Times. He's on

558
00:27:32,880 --> 00:27:36,960
Speaker 4: YouTube now, all caps H g R D there and

559
00:27:37,119 --> 00:27:41,040
Speaker 4: so it looks at this true social where Trump said,

560
00:27:41,040 --> 00:27:43,920
Speaker 4: I like President She of China, always have and always will.

561
00:27:44,320 --> 00:27:47,080
Speaker 4: But he is and this is all caps very tough

562
00:27:47,160 --> 00:27:50,359
Speaker 4: and extremely hard to make a deal with three exclamation

563
00:27:50,520 --> 00:27:54,120
Speaker 4: points with the time staying. Politico had reported that Trump

564
00:27:54,160 --> 00:27:56,920
Speaker 4: has grown quote obsessed with holding a call with She,

565
00:27:58,240 --> 00:28:01,760
Speaker 4: but as they report, she is showing no interest in

566
00:28:01,840 --> 00:28:06,240
Speaker 4: making a deal because he doesn't have to. He yes,

567
00:28:06,560 --> 00:28:10,879
Speaker 4: China like needs the United States as a market, but

568
00:28:11,520 --> 00:28:16,240
Speaker 4: we need China more. That is that is very clearly

569
00:28:17,240 --> 00:28:21,159
Speaker 4: the sense, and they note that, you know, Bloomberg reported

570
00:28:21,880 --> 00:28:23,639
Speaker 4: that China is now talking to Airbus about buying a

571
00:28:23,680 --> 00:28:26,040
Speaker 4: whole bunch of planes from there. Like, China's doing everything

572
00:28:26,080 --> 00:28:30,480
Speaker 4: it can to to try to reduce its dependency on

573
00:28:30,640 --> 00:28:34,000
Speaker 4: either American exports. Like the last time he tried this,

574
00:28:35,080 --> 00:28:37,320
Speaker 4: China was like, let's stop buying so many soybeans. From

575
00:28:37,320 --> 00:28:40,080
Speaker 4: the US and went to Brazil, and now they have

576
00:28:40,160 --> 00:28:42,320
Speaker 4: this locked in relationship with Brazil, which is leading to

577
00:28:42,560 --> 00:28:47,000
Speaker 4: enormous amounts of rainforest getting getting whacked and and it

578
00:28:47,080 --> 00:28:51,680
Speaker 4: has also like very much hurt Iowa and other soybean

579
00:28:51,760 --> 00:28:53,960
Speaker 4: producing parts of the country because it just it just

580
00:28:54,120 --> 00:28:56,840
Speaker 4: never came back. So they're they're figuring out, how can

581
00:28:56,920 --> 00:28:59,880
Speaker 4: we find how can we find other markets for our goods,

582
00:28:59,880 --> 00:29:02,440
Speaker 4: and also how can we find other places where we

583
00:29:02,440 --> 00:29:03,280
Speaker 4: can buy what we need.

584
00:29:03,480 --> 00:29:06,120
Speaker 2: Yeah, and this way we're adjustments that they made prior

585
00:29:06,240 --> 00:29:09,880
Speaker 2: to this trade war. So unlike US, they've.

586
00:29:09,320 --> 00:29:11,120
Speaker 4: Been thinking, they've been thinking about it. We haven't.

587
00:29:11,400 --> 00:29:14,800
Speaker 2: And their largest trading partner is no longer the US

588
00:29:14,880 --> 00:29:17,440
Speaker 2: if you count the Ossion countries as a block, that

589
00:29:17,560 --> 00:29:20,120
Speaker 2: actually is their largest trading partner now. And our share

590
00:29:20,120 --> 00:29:22,320
Speaker 2: and we're still a gigantic customer, is still very important

591
00:29:22,320 --> 00:29:24,520
Speaker 2: to them. I don't want to diminish it, but our

592
00:29:24,640 --> 00:29:28,600
Speaker 2: share of their exports has you know, significantly declined over

593
00:29:28,640 --> 00:29:31,760
Speaker 2: the years, so it's not the same dynamic that it

594
00:29:31,920 --> 00:29:33,000
Speaker 2: was even five years ago.

595
00:29:33,280 --> 00:29:36,160
Speaker 4: And we talked about this briefly yesterday, but the hardline

596
00:29:36,840 --> 00:29:41,600
Speaker 4: kind of anti China president in Korea, you know, try

597
00:29:41,640 --> 00:29:45,320
Speaker 4: to do a self coup to like get more power.

598
00:29:45,640 --> 00:29:45,760
Speaker 1: Right.

599
00:29:45,960 --> 00:29:50,640
Speaker 4: Lost. Six months later, the election comes around and the

600
00:29:50,760 --> 00:29:54,080
Speaker 4: more pro China center left candidate wins, the more pro

601
00:29:54,280 --> 00:30:00,440
Speaker 4: US anti China conservative candidate loses, and so that area

602
00:30:00,480 --> 00:30:02,360
Speaker 4: of the world, their area of the world, you know,

603
00:30:02,480 --> 00:30:07,880
Speaker 4: gets more friendly to them. Yeah. Again, everything Trump is

604
00:30:08,000 --> 00:30:11,320
Speaker 4: doing a systematically turning the world against us.

605
00:30:11,520 --> 00:30:14,280
Speaker 2: Well, and check this next one out in terms of

606
00:30:14,560 --> 00:30:18,600
Speaker 2: unintended consequences and the policy having exactly the opposite impact

607
00:30:18,760 --> 00:30:22,440
Speaker 2: of what this administration has claimed to be their goals.

608
00:30:22,480 --> 00:30:23,400
Speaker 3: Put this up on the screen.

609
00:30:23,560 --> 00:30:26,240
Speaker 2: A number of US automakers now are considering moving some

610
00:30:26,320 --> 00:30:28,560
Speaker 2: of their auto parks manufacturing to China.

611
00:30:29,040 --> 00:30:31,160
Speaker 3: Why because China's put into.

612
00:30:31,040 --> 00:30:36,640
Speaker 2: Place very predictably, these rare earth magnet export controls. They

613
00:30:36,680 --> 00:30:42,200
Speaker 2: are absolutely necessary for the completion of you know, of automobiles.

614
00:30:42,600 --> 00:30:46,840
Speaker 2: And so you have several both evy and traditional automakers

615
00:30:46,880 --> 00:30:49,080
Speaker 2: who are like, maybe we got to do part of

616
00:30:49,120 --> 00:30:51,440
Speaker 2: this in China. And maybe, by the way, long term,

617
00:30:51,840 --> 00:30:54,480
Speaker 2: maybe if the teriff regime stays in place, yes we

618
00:30:54,640 --> 00:30:58,280
Speaker 2: manufacture you know cars here for the domestic US market,

619
00:30:58,360 --> 00:31:01,080
Speaker 2: but for the rest of the world, maybe we relocate

620
00:31:01,240 --> 00:31:03,920
Speaker 2: some of this into China. So and again, this is

621
00:31:04,480 --> 00:31:08,280
Speaker 2: incredibly predictable. I think anyone with a baseline knowledge of

622
00:31:08,280 --> 00:31:09,960
Speaker 2: the way China has been operating around the world to

623
00:31:10,040 --> 00:31:13,479
Speaker 2: try to shore up these supply lines and how far

624
00:31:13,640 --> 00:31:16,600
Speaker 2: behind we are in terms of that race to secure

625
00:31:16,640 --> 00:31:19,920
Speaker 2: those those minerals, those materials, could have predicted that this

626
00:31:20,040 --> 00:31:22,320
Speaker 2: would be one of the ways that they would retaliate

627
00:31:22,360 --> 00:31:25,760
Speaker 2: against US. And the automakers purportedly we're going to Trump

628
00:31:25,760 --> 00:31:27,040
Speaker 2: and saying, hey, we're going to be in trouble, like

629
00:31:27,200 --> 00:31:29,840
Speaker 2: really soon if we don't get this thing figured out right.

630
00:31:30,160 --> 00:31:33,200
Speaker 4: It feels like we have a few years. And this

631
00:31:33,320 --> 00:31:36,280
Speaker 4: is setting aside whether or not some massive war breaks out.

632
00:31:36,360 --> 00:31:38,880
Speaker 4: It feels like we have a couple of years where

633
00:31:39,520 --> 00:31:43,160
Speaker 4: we can reach some kind of daytunt with China and

634
00:31:43,360 --> 00:31:46,840
Speaker 4: do a China. Everybody thinks China's like trying it here

635
00:31:46,880 --> 00:31:48,240
Speaker 4: in the US thinks they want to rule the world

636
00:31:48,360 --> 00:31:51,840
Speaker 4: or something. I don't think that's quite accurate. If we

637
00:31:52,200 --> 00:31:56,400
Speaker 4: proposed a G two, basically, all right, it's a huge world.

638
00:31:56,480 --> 00:31:58,760
Speaker 4: You're all the way over there, we're all the way

639
00:31:58,760 --> 00:32:00,880
Speaker 4: over here. We're going to do a G two we're

640
00:32:00,880 --> 00:32:03,520
Speaker 4: gonna we're going to share the world. We're going to

641
00:32:03,560 --> 00:32:05,720
Speaker 4: cooperate where we can. We're not going to be in

642
00:32:05,960 --> 00:32:11,080
Speaker 4: a direct conflict. We'll compete, but we'll compete like you know, Uh,

643
00:32:11,440 --> 00:32:18,680
Speaker 4: we'll compete fairly and uh, A rising tide lifts all boats. Otherwise,

644
00:32:19,880 --> 00:32:24,200
Speaker 4: a US that doesn't have it, doesn't have some sort

645
00:32:24,240 --> 00:32:27,120
Speaker 4: of you know, soft power projection is basically Brazil. Like

646
00:32:27,200 --> 00:32:30,719
Speaker 4: that's what we'll that's that's will be long term. Very

647
00:32:30,720 --> 00:32:34,720
Speaker 4: a lot of similarities geovographically and resource and demographically and

648
00:32:34,880 --> 00:32:38,280
Speaker 4: historically between US and Brazil. But we became much more

649
00:32:38,320 --> 00:32:41,320
Speaker 4: of a global power. They didn't. So they've got they

650
00:32:41,360 --> 00:32:44,680
Speaker 4: have the same amount of kind of runaway inequality, but

651
00:32:44,800 --> 00:32:47,760
Speaker 4: they don't have as much wealth. So they've got favelas

652
00:32:47,760 --> 00:32:51,480
Speaker 4: whereas we have. You know, you'd much rather live in

653
00:32:51,560 --> 00:32:54,320
Speaker 4: our favelas than theirs. Yeah, but that's where we're headed

654
00:32:54,320 --> 00:32:57,040
Speaker 4: if we don't reach some kind of daytime, is my take.

655
00:32:57,480 --> 00:33:00,800
Speaker 2: Yeah, there's a world in which that each administration is

656
00:33:00,880 --> 00:33:04,120
Speaker 2: rushing towards which is just zero sum and based on

657
00:33:04,520 --> 00:33:07,080
Speaker 2: hard military conflict. I mean, they're you know, getting rid

658
00:33:07,120 --> 00:33:09,440
Speaker 2: of all the soft power and obviously the bill and

659
00:33:09,480 --> 00:33:12,640
Speaker 2: this is a good transition to the beautiful bill increases

660
00:33:12,720 --> 00:33:15,560
Speaker 2: are hard military power like that seems to be the

661
00:33:15,640 --> 00:33:18,000
Speaker 2: only type of power that they're interested in. There's a

662
00:33:18,080 --> 00:33:21,200
Speaker 2: world that's zero sum, where we are directly at odds

663
00:33:21,280 --> 00:33:24,600
Speaker 2: in a way that is both dangerous and also you know,

664
00:33:24,720 --> 00:33:27,960
Speaker 2: economically terrible for us. And there's a world in which

665
00:33:28,000 --> 00:33:31,920
Speaker 2: we you know, care about mutual cooperation, coexistence. And I

666
00:33:31,960 --> 00:33:34,920
Speaker 2: would say that world has never been more more important,

667
00:33:35,240 --> 00:33:37,080
Speaker 2: given the fact that many of the challenges that face

668
00:33:37,120 --> 00:33:41,040
Speaker 2: the globe are truly, truly are global existential challenges and

669
00:33:41,120 --> 00:33:43,960
Speaker 2: which you will need to work with China and other

670
00:33:44,000 --> 00:33:47,320
Speaker 2: countries around the world. And you know, instead they have

671
00:33:47,480 --> 00:33:51,200
Speaker 2: this sort of like bunker prepper mentality something Naomi Klin's

672
00:33:51,240 --> 00:33:54,520
Speaker 2: been talking about. Just take the proper mentality and extrapolate

673
00:33:54,560 --> 00:33:57,240
Speaker 2: it out to a national basis. That's effectively the mentality

674
00:33:57,280 --> 00:33:58,240
Speaker 2: they right and on.

675
00:33:58,280 --> 00:34:00,520
Speaker 4: The on the hard war side, and which we should

676
00:34:00,520 --> 00:34:02,120
Speaker 4: do a segment on this, get somebody on maybe in

677
00:34:02,240 --> 00:34:04,680
Speaker 4: mas My colleague Mas Hussein has been studying this a lot.

678
00:34:05,560 --> 00:34:07,720
Speaker 4: It's not obvious that we would win, Like we have

679
00:34:08,000 --> 00:34:13,680
Speaker 4: a corrupt, backwards Western kind of military industrial complex.

680
00:34:13,600 --> 00:34:15,560
Speaker 3: And when is the last time one of our military

681
00:34:15,560 --> 00:34:16,399
Speaker 3: adventures went well?

682
00:34:16,640 --> 00:34:20,879
Speaker 4: And here's some bad news in India Pakistan. The US

683
00:34:21,040 --> 00:34:25,040
Speaker 4: asked Pakistan not to use airplanes that we had provided

684
00:34:25,120 --> 00:34:27,759
Speaker 4: to them because you know, for geopolitical reasons, you don't

685
00:34:27,760 --> 00:34:30,319
Speaker 4: want they don't you don't want a US made bomb

686
00:34:30,400 --> 00:34:34,239
Speaker 4: and a US made jet like killing Indians. So there's like,

687
00:34:34,400 --> 00:34:37,160
Speaker 4: so stand down on that. So Pakistan said, Okay, We're

688
00:34:37,160 --> 00:34:39,680
Speaker 4: going to use a bunch of these next gen Chinese

689
00:34:40,040 --> 00:34:43,160
Speaker 4: weapons that we have missed, both anti aircraft both you know,

690
00:34:43,560 --> 00:34:46,839
Speaker 4: air to air surfced air and and warplanes as well.

691
00:34:48,160 --> 00:34:51,279
Speaker 4: The and India is much much richer and bigger now

692
00:34:51,400 --> 00:34:57,200
Speaker 4: than Pakistan economically, right, and Pakistan outperformed the Chinese weapons

693
00:34:57,640 --> 00:34:59,920
Speaker 4: that people in the military industrial complex world called it

694
00:35:00,400 --> 00:35:04,799
Speaker 4: kind of China's deep seek military moment. These Chinese airplanes

695
00:35:05,200 --> 00:35:08,040
Speaker 4: knocked a bunch of Western airplanes out of the sky

696
00:35:09,280 --> 00:35:12,560
Speaker 4: and you know, cheaper and more effective. So it's like

697
00:35:12,680 --> 00:35:17,759
Speaker 4: hm and so Pakistans, which you know, was in that

698
00:35:18,160 --> 00:35:22,160
Speaker 4: case a proxy against India for China, showed that this

699
00:35:22,360 --> 00:35:25,960
Speaker 4: is not already this would not necessarily go well for US.

700
00:35:27,160 --> 00:35:29,960
Speaker 2: Of all, drones are produced in China, right, and when

701
00:35:30,000 --> 00:35:32,560
Speaker 2: you think about the future of warfare, which is already arriving,

702
00:35:32,600 --> 00:35:34,440
Speaker 2: if you look at Ukraine versus Russia and what they

703
00:35:34,440 --> 00:35:36,520
Speaker 2: were just able to pull off, even though they're you know,

704
00:35:36,640 --> 00:35:41,120
Speaker 2: much smaller country, much smaller population, much smaller industrial base,

705
00:35:41,560 --> 00:35:43,960
Speaker 2: what they were able to pull off inside of Russia.

706
00:35:44,400 --> 00:35:46,080
Speaker 2: And I mean a lot of that war is like

707
00:35:46,200 --> 00:35:48,640
Speaker 2: drone versus drone at this point. And yeah, we are

708
00:35:48,760 --> 00:35:54,880
Speaker 2: dramatically behind, ramatically behind. Let's go ahead and transition to

709
00:35:55,239 --> 00:35:58,480
Speaker 2: the latest with regard to the beautiful bill. A lot

710
00:35:58,560 --> 00:36:03,120
Speaker 2: going on here. So Steve Bannon making some interesting comments

711
00:36:03,280 --> 00:36:05,920
Speaker 2: about the nature of what you would actually need to

712
00:36:06,000 --> 00:36:08,520
Speaker 2: do if you cared about deficit reduction, and he has

713
00:36:08,560 --> 00:36:10,600
Speaker 2: been saying for a while now, you really need to

714
00:36:11,080 --> 00:36:12,200
Speaker 2: lift taxes on the rich.

715
00:36:12,280 --> 00:36:13,080
Speaker 3: Let's take a listen to that.

716
00:36:13,400 --> 00:36:17,120
Speaker 9: I want to stop the dead bomb elon and the

717
00:36:17,160 --> 00:36:21,040
Speaker 9: guys on Capitol here, You're going to have to raise taxes.

718
00:36:22,080 --> 00:36:24,359
Speaker 9: The wealthy can't get an extension of the tax cut.

719
00:36:24,760 --> 00:36:26,600
Speaker 9: That's got to go the middle class and the working

720
00:36:26,680 --> 00:36:29,440
Speaker 9: class that has to be extended and has to be

721
00:36:29,760 --> 00:36:33,880
Speaker 9: made permanent. At forty percent, the top racket of forty percent.

722
00:36:33,960 --> 00:36:37,359
Speaker 9: You pick them, that's got to go to thirty nine

723
00:36:37,360 --> 00:36:39,239
Speaker 9: and go back to thirty snap back to thirty nine

724
00:36:39,280 --> 00:36:40,640
Speaker 9: and a half percent, and go to forty percent. The

725
00:36:40,760 --> 00:36:44,759
Speaker 9: math simply doesn't work. There are no Doge cuts. Let

726
00:36:44,840 --> 00:36:48,080
Speaker 9: me repeat this, and this is not usaid. Those are

727
00:36:48,160 --> 00:36:50,920
Speaker 9: programmatic things. Sometimes it waste for it. Where's the fraud medicaid?

728
00:36:51,000 --> 00:36:51,279
Speaker 4: Which is?

729
00:36:51,320 --> 00:36:51,480
Speaker 5: Where?

730
00:36:51,680 --> 00:36:52,080
Speaker 4: Where is it?

731
00:36:52,600 --> 00:36:55,000
Speaker 9: Haven't showed up with any has anybody been turned.

732
00:36:54,800 --> 00:36:55,920
Speaker 4: Over to DOJ for fraud?

733
00:36:57,000 --> 00:36:59,280
Speaker 9: The problem with Musk and I said this from the beginning,

734
00:36:59,360 --> 00:37:03,080
Speaker 9: he gave fall else hope to this political class who

735
00:37:03,120 --> 00:37:06,040
Speaker 9: doesn't want to cut anything. The reason if the big

736
00:37:06,040 --> 00:37:08,720
Speaker 9: beautiful bill's got all these problems and it had some issues,

737
00:37:09,760 --> 00:37:13,040
Speaker 9: he drove it because he promised a trillion dollars ladies

738
00:37:13,040 --> 00:37:15,359
Speaker 9: and gentlemen, one trillion dollars. That got him off the hook.

739
00:37:17,600 --> 00:37:21,279
Speaker 9: It's time for everybody to grow up, run around. Oh

740
00:37:21,440 --> 00:37:24,560
Speaker 9: so show me where it is. The recision next week

741
00:37:24,719 --> 00:37:28,040
Speaker 9: is nine billion dollars and two billion folks is PBS

742
00:37:28,160 --> 00:37:30,840
Speaker 9: and NPR. Give me a break. Didn't he doze for that?

743
00:37:31,160 --> 00:37:34,640
Speaker 9: Been fighting for that one forever. There's seven billion dollars

744
00:37:34,680 --> 00:37:37,920
Speaker 9: in there, Supposedly of I don't know, fraud on a

745
00:37:38,000 --> 00:37:41,360
Speaker 9: seven trillion dollar he committed to committed to the President

746
00:37:41,440 --> 00:37:43,000
Speaker 9: United States one trillion dollars.

747
00:37:43,680 --> 00:37:46,880
Speaker 2: So Ryan his position is basically like, oh, well, the

748
00:37:47,000 --> 00:37:49,400
Speaker 2: reason the big beautiful bill blows up the deficit is

749
00:37:49,520 --> 00:37:52,680
Speaker 2: because of Elon, because they actually took seriously Trump included

750
00:37:52,719 --> 00:37:55,120
Speaker 2: apparently this idea he was going to cut a two

751
00:37:55,239 --> 00:37:58,440
Speaker 2: trillion or a trillion dollars, which I just I just

752
00:37:58,600 --> 00:38:01,680
Speaker 2: can't believe that they or I just can't accept that

753
00:38:01,800 --> 00:38:03,759
Speaker 2: they are really that dumb, Like do you accept that,

754
00:38:03,920 --> 00:38:08,080
Speaker 2: Like I if you just look at the governments and

755
00:38:08,200 --> 00:38:09,920
Speaker 2: where it is and what you would need to do,

756
00:38:11,040 --> 00:38:13,600
Speaker 2: were they really they really thought he was going to

757
00:38:13,640 --> 00:38:14,560
Speaker 2: cut a trillion dollars?

758
00:38:15,280 --> 00:38:18,080
Speaker 4: I have, as you know, covered Congress for a very

759
00:38:18,120 --> 00:38:18,520
Speaker 4: long time.

760
00:38:18,600 --> 00:38:21,520
Speaker 3: Yeah, tell me, I believe you think they're really really

761
00:38:21,560 --> 00:38:21,960
Speaker 3: that dumb.

762
00:38:22,520 --> 00:38:25,520
Speaker 4: We are not sending our best, I mean, and he's.

763
00:38:25,360 --> 00:38:28,000
Speaker 2: Trying to put so part of it obviously, Like you know,

764
00:38:28,120 --> 00:38:30,080
Speaker 2: I agree that they should lift the taxes on the ridge.

765
00:38:30,200 --> 00:38:31,760
Speaker 2: And also, by the way, when they say lift taxes,

766
00:38:31,800 --> 00:38:35,319
Speaker 2: they just mean like, don't cut taxes as much as

767
00:38:35,480 --> 00:38:36,680
Speaker 2: is planned to in this bill.

768
00:38:36,760 --> 00:38:38,360
Speaker 3: But in any case, it is.

769
00:38:38,600 --> 00:38:42,440
Speaker 4: I'll say this, Yeah, every time I speak with a

770
00:38:42,520 --> 00:38:45,360
Speaker 4: member of Congress whose lights are on, it is a

771
00:38:45,480 --> 00:38:48,600
Speaker 4: revelation to me. It's like, it's like, oh, awesome, I

772
00:38:48,680 --> 00:38:52,200
Speaker 4: found you have a working bread Republican Democrat, Like this

773
00:38:52,400 --> 00:38:55,560
Speaker 4: is somebody who has an idea of what they're talking about. Yeah,

774
00:38:56,000 --> 00:38:59,160
Speaker 4: and that is very unusual. That is not the normal

775
00:38:59,239 --> 00:38:59,960
Speaker 4: member of Congress.

776
00:39:00,200 --> 00:39:03,960
Speaker 2: And so he's saying effectively like that Trump too bought

777
00:39:04,040 --> 00:39:06,400
Speaker 2: this idea that there would be a trillion dollars in

778
00:39:06,960 --> 00:39:09,440
Speaker 2: cuts made by Doge and then they could just like

779
00:39:09,600 --> 00:39:13,120
Speaker 2: go wild in this bill and spend whatever they want,

780
00:39:13,600 --> 00:39:16,239
Speaker 2: most of which is you know, gigantic tax cut for

781
00:39:16,400 --> 00:39:18,640
Speaker 2: people who really don't need that tax cut, and that

782
00:39:18,640 --> 00:39:21,040
Speaker 2: it would be a okay, and that they were cut

783
00:39:21,280 --> 00:39:25,239
Speaker 2: increase caught unawares. Again that you know this wasn't going

784
00:39:25,280 --> 00:39:27,920
Speaker 2: to happen. But I mean, also this this also doesn't

785
00:39:27,920 --> 00:39:30,320
Speaker 2: really hold up to any level of screwy either, because

786
00:39:30,480 --> 00:39:32,719
Speaker 2: by the time this bill is being crafted, it is

787
00:39:32,800 --> 00:39:35,680
Speaker 2: already abundantly clear that Doge is an utter and complete failure.

788
00:39:36,040 --> 00:39:37,680
Speaker 2: And he points the thing that you've been pointing to,

789
00:39:37,880 --> 00:39:40,719
Speaker 2: basically like, okay, if there was fraud. Where are the

790
00:39:40,840 --> 00:39:45,680
Speaker 2: indictments like the name, Give me one instance of one,

791
00:39:46,040 --> 00:39:49,480
Speaker 2: a single one. Not things you didn't like, not things

792
00:39:49,520 --> 00:39:52,920
Speaker 2: that were DEI, not departments like USAI D that you

793
00:39:53,080 --> 00:39:56,840
Speaker 2: just don't you know, think should exist, actual fraud of

794
00:39:56,920 --> 00:39:59,919
Speaker 2: which I am quite sure exist within the federal government.

795
00:40:01,520 --> 00:40:03,040
Speaker 3: Not a single instance, not one.

796
00:40:03,120 --> 00:40:05,560
Speaker 4: Right, right, they would be frog marched in front of them.

797
00:40:05,680 --> 00:40:07,920
Speaker 3: We would all know every detail.

798
00:40:08,000 --> 00:40:09,680
Speaker 4: We know their name, we know their middle name. It'd

799
00:40:09,680 --> 00:40:13,200
Speaker 4: be one of those people, yes, like like a presidential assassin.

800
00:40:15,000 --> 00:40:19,040
Speaker 4: And so Elon Musk going all in. It reminded me

801
00:40:19,280 --> 00:40:24,480
Speaker 4: in the book there where there's an anecdote the Elon biography.

802
00:40:25,080 --> 00:40:27,920
Speaker 4: I'm sure you remember this where he plays poker and

803
00:40:28,200 --> 00:40:32,680
Speaker 4: he has no idea how to play poker, but he wins,

804
00:40:32,840 --> 00:40:34,680
Speaker 4: like his first night, he wins a decent amount of money,

805
00:40:34,680 --> 00:40:36,320
Speaker 4: and somebody's like, you know, how did you do that?

806
00:40:36,360 --> 00:40:37,840
Speaker 4: You know, not to play poker. He's like, I just

807
00:40:37,920 --> 00:40:40,799
Speaker 4: kept going all in constantly, and then when I would lose,

808
00:40:40,840 --> 00:40:43,839
Speaker 4: I would just buy back in and go all in again.

809
00:40:44,760 --> 00:40:47,280
Speaker 4: And if you do that, and you have unlimited funds

810
00:40:47,840 --> 00:40:51,000
Speaker 4: and you outlast everyone at the table, you will eventually

811
00:40:51,040 --> 00:40:53,440
Speaker 4: take all their money. He's right about that, and I

812
00:40:53,520 --> 00:40:56,360
Speaker 4: feel like he's that's his been his approach to politics.

813
00:40:56,440 --> 00:41:00,840
Speaker 4: He clearly doesn't know how politics works, but he just

814
00:41:00,960 --> 00:41:03,719
Speaker 4: keeps going all in. And you know he went he

815
00:41:03,800 --> 00:41:08,160
Speaker 4: went all in taking on Boeing and you know the

816
00:41:08,239 --> 00:41:10,120
Speaker 4: rest of the kind of rocket companies.

817
00:41:10,280 --> 00:41:11,120
Speaker 3: Yeah, and it worked.

818
00:41:12,440 --> 00:41:15,920
Speaker 4: Huge credit to him, like taking on those incumbent industries

819
00:41:16,480 --> 00:41:19,080
Speaker 4: and staking a position and then becoming kind of a

820
00:41:19,120 --> 00:41:23,399
Speaker 4: dominant player. Incredible and huge risk. Went all in. Then

821
00:41:23,440 --> 00:41:26,200
Speaker 4: he went all in with Trump, putting so much on

822
00:41:26,280 --> 00:41:29,000
Speaker 4: the line because if he lost, Democrats were like coming

823
00:41:29,040 --> 00:41:30,799
Speaker 4: for him on a lot of different levels. Yeah, went

824
00:41:30,840 --> 00:41:33,640
Speaker 4: all in. But then he loses because he went all

825
00:41:33,680 --> 00:41:36,879
Speaker 4: in on Doge. So he's like, oh and he had

826
00:41:36,920 --> 00:41:41,040
Speaker 4: no cards, so he loses the whole pile. Now put

827
00:41:41,120 --> 00:41:45,760
Speaker 4: up this next element. He's going all in against Trump

828
00:41:47,080 --> 00:41:52,000
Speaker 4: in November next year, we fire all politicians who betrayed

829
00:41:52,160 --> 00:41:55,479
Speaker 4: the American people. And he's talking about voting for this bill.

830
00:41:56,040 --> 00:41:57,319
Speaker 4: It was a party line vote in that.

831
00:41:57,440 --> 00:41:59,480
Speaker 3: I was going to say all about what five Republicans

832
00:42:01,239 --> 00:42:02,120
Speaker 3: be my guest brother.

833
00:42:02,480 --> 00:42:06,959
Speaker 4: Yeah, So now he's saying he's going after all politicians.

834
00:42:07,239 --> 00:42:09,760
Speaker 4: Now will he do it, I don't know, but saying

835
00:42:09,840 --> 00:42:11,520
Speaker 4: it is pushing all your chips in.

836
00:42:11,960 --> 00:42:15,759
Speaker 2: Yeah, And I mean from my reading of him and

837
00:42:15,840 --> 00:42:19,720
Speaker 2: his history of biographies whatever, this is just how he operates.

838
00:42:20,520 --> 00:42:22,120
Speaker 2: He's one of these I'm sure you guys probably know

839
00:42:22,200 --> 00:42:25,040
Speaker 2: people like this who don't feel like they're living unless

840
00:42:25,120 --> 00:42:27,120
Speaker 2: it's all on the line. Yes, and he's one of

841
00:42:27,160 --> 00:42:32,920
Speaker 2: these people, Like, if he's not risking everything complete collapse, humiliation, bankruptcy,

842
00:42:33,440 --> 00:42:36,680
Speaker 2: then he doesn't feel like he doesn't feel like he's

843
00:42:36,719 --> 00:42:39,799
Speaker 2: really alive. And so I've been saying for a few

844
00:42:39,880 --> 00:42:43,719
Speaker 2: weeks now, I could totally see him doing another phase

845
00:42:43,760 --> 00:42:48,840
Speaker 2: turn because remember was Elon and Obama had a great relationship.

846
00:42:48,920 --> 00:42:54,000
Speaker 2: Obama basically saved both SpaceX and Tesla during his administration.

847
00:42:54,440 --> 00:42:56,520
Speaker 2: You know, Elon was, you know, much more on the

848
00:42:56,560 --> 00:42:59,439
Speaker 2: sort of like democratic liberal side of the equation, which

849
00:42:59,480 --> 00:43:02,440
Speaker 2: just shows you these guys like even in his complaints

850
00:43:02,560 --> 00:43:05,040
Speaker 2: about this bill, it's all about his own interests. He

851
00:43:05,120 --> 00:43:06,840
Speaker 2: doesn't like that the TV credits were stripped on. I

852
00:43:06,880 --> 00:43:08,680
Speaker 2: don't like the V credits were stripped down either, but

853
00:43:08,840 --> 00:43:11,359
Speaker 2: that's he's mad about that. He's mad about the fact

854
00:43:11,360 --> 00:43:15,000
Speaker 2: that Trump pulled his NASA pick, which obviously very important

855
00:43:15,040 --> 00:43:18,200
Speaker 2: to him with regard to SpaceX. But I could totally

856
00:43:18,280 --> 00:43:20,400
Speaker 2: see him trying to do a face turn and you know,

857
00:43:20,560 --> 00:43:22,439
Speaker 2: go back to the other side of the political party,

858
00:43:22,640 --> 00:43:24,480
Speaker 2: and there would be plenty of people in the Democratic

859
00:43:24,520 --> 00:43:26,719
Speaker 2: side who would be happy to welcome him back in,

860
00:43:26,840 --> 00:43:28,759
Speaker 2: at least at the elite level. I think at the

861
00:43:28,760 --> 00:43:33,000
Speaker 2: grassroots level, once you've done your you know, your Roman salute,

862
00:43:33,160 --> 00:43:35,520
Speaker 2: and all the things that he's done and all the

863
00:43:35,560 --> 00:43:37,600
Speaker 2: things that he's said, and the way that he has

864
00:43:37,760 --> 00:43:40,920
Speaker 2: just completely made himself the most toxic figure on the

865
00:43:40,960 --> 00:43:43,920
Speaker 2: planet to your average normally Democratic voter, I think that

866
00:43:44,080 --> 00:43:45,960
Speaker 2: is going to be very hard to forgive and forget

867
00:43:46,000 --> 00:43:46,640
Speaker 2: among the base.

868
00:43:46,920 --> 00:43:50,320
Speaker 4: And I think he's also genuinely very concerned about the

869
00:43:50,400 --> 00:43:54,480
Speaker 4: deficit impact of the bill, the debt impact, because if

870
00:43:54,520 --> 00:43:59,120
Speaker 4: the United States enters a period where of high interest rate,

871
00:43:59,320 --> 00:44:03,600
Speaker 4: you know, yes, on our debt, that means that both

872
00:44:03,680 --> 00:44:05,920
Speaker 4: private companies and the federal government are going to have

873
00:44:06,000 --> 00:44:08,880
Speaker 4: less money to spend on his Marx mission. Yeah, so

874
00:44:09,080 --> 00:44:13,400
Speaker 4: this is in direct competition with his y, with his life's.

875
00:44:13,160 --> 00:44:16,560
Speaker 2: Mission, And I do think my reading of Elon is

876
00:44:16,600 --> 00:44:20,239
Speaker 2: that that is the life mission, the making humans intra

877
00:44:20,480 --> 00:44:23,759
Speaker 2: planetarritary and like going to Mars as like ridiculous and

878
00:44:23,800 --> 00:44:26,040
Speaker 2: absurd as it seems. I do think that that is

879
00:44:26,120 --> 00:44:28,320
Speaker 2: his life mission, and that's why he jumped into government,

880
00:44:28,360 --> 00:44:30,359
Speaker 2: because he realized it's not something you can do as

881
00:44:30,360 --> 00:44:33,120
Speaker 2: a private company on your own. You basically need that

882
00:44:33,320 --> 00:44:36,280
Speaker 2: mission to be backstopped by the treasury.

883
00:44:36,080 --> 00:44:37,320
Speaker 3: Of the United States of America.

884
00:44:37,560 --> 00:44:40,640
Speaker 2: But we have to be like a you know, functioning

885
00:44:40,960 --> 00:44:45,440
Speaker 2: wealthy nation with the ability to borrow and spend on

886
00:44:45,800 --> 00:44:49,880
Speaker 2: something like a you know, fantasy mission to Mars. And

887
00:44:50,040 --> 00:44:52,040
Speaker 2: so I think you're right about that aspect.

888
00:44:52,320 --> 00:44:54,600
Speaker 4: I think if he's spent curious for your take on this,

889
00:44:54,680 --> 00:44:58,760
Speaker 4: imagine this. Let's say he spends four million dollars against

890
00:44:59,760 --> 00:45:04,000
Speaker 4: Mike Lawler, Republican in Upstate New York. Yeah, who you

891
00:45:04,040 --> 00:45:07,400
Speaker 4: know is one of the key targets, and he spends

892
00:45:07,480 --> 00:45:12,160
Speaker 4: four million on handful folklaw is going to lose. I

893
00:45:12,200 --> 00:45:14,080
Speaker 4: don't know, they it's going to be very close. He

894
00:45:14,120 --> 00:45:16,120
Speaker 4: could he could hold on, okay, and we'll see, We'll

895
00:45:16,120 --> 00:45:17,799
Speaker 4: see what the world looks like in a year. Yeah,

896
00:45:18,840 --> 00:45:21,120
Speaker 4: but let's say he spends four million dollars on twenty

897
00:45:21,160 --> 00:45:24,880
Speaker 4: different races, eighty million bucks and helps Democrats win back

898
00:45:24,920 --> 00:45:33,120
Speaker 4: the House. I think most activist Democrats are instrumental enough

899
00:45:33,160 --> 00:45:37,640
Speaker 4: they'd be like welcome back. But I mean the level

900
00:45:37,719 --> 00:45:40,640
Speaker 4: of destruction he did in gleeful destruction with the chainsaw

901
00:45:40,719 --> 00:45:47,200
Speaker 4: on the stage, you know, just you know, demonstrating such cruelty. Yeah,

902
00:45:47,520 --> 00:45:50,959
Speaker 4: the Roman salute, elevating all of these freaks on Twitter. Yeah,

903
00:45:52,440 --> 00:45:54,640
Speaker 4: I don't know, it's in those are in competition. What

904
00:45:54,640 --> 00:45:55,880
Speaker 4: do you what do you think they where do you

905
00:45:55,920 --> 00:45:56,480
Speaker 4: think they land?

906
00:45:57,440 --> 00:45:59,920
Speaker 2: I think it depends very much on the kind of

907
00:46:00,040 --> 00:46:02,960
Speaker 2: of intra party fight in twenty twenty eight, you know

908
00:46:03,080 --> 00:46:05,879
Speaker 2: whether you have because right now there is so much

909
00:46:06,000 --> 00:46:08,680
Speaker 2: energy among the base and among the American people more broadly,

910
00:46:08,920 --> 00:46:12,440
Speaker 2: for like fighting oligarchy, and he is the symbol of that.

911
00:46:13,239 --> 00:46:16,920
Speaker 2: And so you know, I mean, he made himself the symbol.

912
00:46:17,040 --> 00:46:19,120
Speaker 2: He's the richest man on the planet, and he has

913
00:46:19,120 --> 00:46:22,560
Speaker 2: spent his time in government destroying social security, you know,

914
00:46:23,560 --> 00:46:26,400
Speaker 2: killing kids in Africa. I mean, it really is grotesque

915
00:46:27,200 --> 00:46:30,759
Speaker 2: not to mention the like carnival level imagery of him

916
00:46:30,840 --> 00:46:33,320
Speaker 2: on the stage with the chainsaw and the glee that

917
00:46:33,480 --> 00:46:39,879
Speaker 2: he took in destroying people's lives so well, I think

918
00:46:40,600 --> 00:46:43,959
Speaker 2: the you know, elite leaders of the Democratic Party would

919
00:46:44,000 --> 00:46:45,920
Speaker 2: be happy to welcome him back in and happy to

920
00:46:45,960 --> 00:46:50,040
Speaker 2: take his money. I think that the Democratic Party base

921
00:46:50,200 --> 00:46:53,320
Speaker 2: is headed in a more radical, anti billionaire direction, and

922
00:46:53,440 --> 00:46:54,960
Speaker 2: that is not going to be something that he would

923
00:46:54,960 --> 00:46:56,000
Speaker 2: be able to coexist with.

924
00:46:56,400 --> 00:46:58,600
Speaker 4: Let's hope it would be very funny to go, and

925
00:46:58,760 --> 00:47:01,320
Speaker 4: it's already funny that he's going from we must elect

926
00:47:01,400 --> 00:47:04,839
Speaker 4: all these guys to save with Western civilization. Two years

927
00:47:04,880 --> 00:47:07,600
Speaker 4: later we must throw them all out of Hamet right

928
00:47:07,840 --> 00:47:11,120
Speaker 4: to say Western civilization was overrated anyway. So Trump is

929
00:47:11,400 --> 00:47:14,080
Speaker 4: unsurprisingly a little bit annoyed by this. Let's roll B

930
00:47:14,200 --> 00:47:15,240
Speaker 4: three because it's kind of funny.

931
00:47:15,600 --> 00:47:17,959
Speaker 5: I think the Elon must thing really caught the President

932
00:47:18,000 --> 00:47:20,640
Speaker 5: by surprise, and I hear he is furious.

933
00:47:21,080 --> 00:47:22,960
Speaker 4: But I think he's so smart to keep his.

934
00:47:23,040 --> 00:47:28,239
Speaker 5: Powder dry because he just plays into what where critics.

935
00:47:27,920 --> 00:47:30,160
Speaker 9: Would have to say the right can't get out of

936
00:47:30,239 --> 00:47:30,799
Speaker 9: their own way.

937
00:47:31,160 --> 00:47:32,919
Speaker 4: Instead, just you have a goal.

938
00:47:33,280 --> 00:47:35,880
Speaker 5: Pass it. Elon Musk is not in the Senate or

939
00:47:35,960 --> 00:47:36,359
Speaker 5: the House.

940
00:47:36,680 --> 00:47:37,440
Speaker 4: Don't worry a man.

941
00:47:37,480 --> 00:47:41,040
Speaker 10: I offer a different perspective Ansley as someone who is

942
00:47:41,400 --> 00:47:45,160
Speaker 10: supportive of the President's agenda. I am upset with Congress

943
00:47:45,320 --> 00:47:48,080
Speaker 10: right now. I don't blame the President for the Big

944
00:47:48,160 --> 00:47:51,440
Speaker 10: Beautiful Bill. I blame Congress because they go to their

945
00:47:51,520 --> 00:47:54,600
Speaker 10: constituents every single election and they say they're going to

946
00:47:54,680 --> 00:47:58,080
Speaker 10: cut spinning, cut, cook cut, and it doesn't seem like

947
00:47:58,320 --> 00:48:01,839
Speaker 10: there's a willingness to do that. But I don't think

948
00:48:01,960 --> 00:48:05,680
Speaker 10: Elon is anti Maga now or anti the President now.

949
00:48:06,160 --> 00:48:07,920
Speaker 10: He works so hard, put a lot of stuff on

950
00:48:08,000 --> 00:48:11,000
Speaker 10: the line to get a lot of wateful stuff cut,

951
00:48:11,280 --> 00:48:13,359
Speaker 10: and it doesn't seem like Congress is showing that's saying.

952
00:48:13,400 --> 00:48:15,640
Speaker 11: I thought Elon was very respectful in some of the

953
00:48:15,800 --> 00:48:18,120
Speaker 11: original interviews, just saying, look, we have differences.

954
00:48:18,120 --> 00:48:19,400
Speaker 3: I don't agree with him on everything.

955
00:48:19,840 --> 00:48:23,239
Speaker 11: But this latest comment about calling the Big Beautiful Bill

956
00:48:23,320 --> 00:48:26,840
Speaker 11: a disgusting abomination. I was shocked to hear him say that.

957
00:48:27,040 --> 00:48:29,240
Speaker 11: I can understand why the President would not be happy

958
00:48:29,280 --> 00:48:31,640
Speaker 11: about that. This is someone who worked on his team.

959
00:48:32,120 --> 00:48:33,640
Speaker 4: You know, I want to die and come back as

960
00:48:33,640 --> 00:48:36,560
Speaker 4: he has Donald Trump, this guy he if he comes

961
00:48:36,640 --> 00:48:39,640
Speaker 4: out hard against Elon Musk, the base loves that he

962
00:48:39,760 --> 00:48:43,640
Speaker 4: did that. If he's mad at Elon Musk, but he's

963
00:48:43,680 --> 00:48:46,839
Speaker 4: too afraid to say a word. He's savvy and sophisticated.

964
00:48:46,920 --> 00:48:47,879
Speaker 3: That's right the deal.

965
00:48:48,080 --> 00:48:51,799
Speaker 4: If he writes a good, big, beautiful bill, then he's

966
00:48:51,840 --> 00:48:54,160
Speaker 4: a genius for writing a great piece of legislation. If

967
00:48:54,200 --> 00:48:57,920
Speaker 4: he writes a bad, big beautiful bill, then it's not

968
00:48:58,000 --> 00:49:01,040
Speaker 4: his fault. It's actually the people in the house betrayed. Betrayed,

969
00:49:01,800 --> 00:49:05,479
Speaker 4: Like there is nothing that he could do that would

970
00:49:05,520 --> 00:49:08,680
Speaker 4: warrant even a second of criticism on that network. It's

971
00:49:09,360 --> 00:49:11,680
Speaker 4: truly just absolutely phenomenal.

972
00:49:11,719 --> 00:49:13,960
Speaker 2: I mean that was Steve Bannon too, of like, well,

973
00:49:14,000 --> 00:49:14,960
Speaker 2: it's not Trump's fault that.

974
00:49:15,160 --> 00:49:17,560
Speaker 4: He Bannon still has not come out and said vote

975
00:49:17,560 --> 00:49:20,279
Speaker 4: this bill down, which he despite the fact that it

976
00:49:20,360 --> 00:49:22,880
Speaker 4: is important to know, enormously critical of it, and I

977
00:49:23,000 --> 00:49:25,800
Speaker 4: love hearing him rip it apart, But he has so

978
00:49:25,960 --> 00:49:29,640
Speaker 4: far stopped short of the logical conclusion, which is then

979
00:49:29,719 --> 00:49:30,239
Speaker 4: don't do it.

980
00:49:30,600 --> 00:49:31,680
Speaker 3: Bannon is a politician.

981
00:49:31,800 --> 00:49:35,320
Speaker 2: He realizes that he needs his you know, best chance

982
00:49:35,440 --> 00:49:37,680
Speaker 2: of getting whatever things he wants and having access to

983
00:49:37,760 --> 00:49:39,520
Speaker 2: power is by being on Trump's good side.

984
00:49:39,800 --> 00:49:40,719
Speaker 3: He knows what that means.

985
00:49:40,880 --> 00:49:43,160
Speaker 4: That's why he's so good. It never criticized.

986
00:49:43,160 --> 00:49:47,400
Speaker 2: It's always somebody else's fault. It's never it's Elon promised

987
00:49:47,440 --> 00:49:48,920
Speaker 2: these things and didn't deliver.

988
00:49:48,719 --> 00:49:49,520
Speaker 3: And it's his fault.

989
00:49:49,520 --> 00:49:51,839
Speaker 2: And you relied on his, you know, ability to find

990
00:49:51,920 --> 00:49:54,280
Speaker 2: these cuts and he didn't do it. So it's ultimately

991
00:49:54,360 --> 00:49:56,000
Speaker 2: his fault. And you see the same kind of game

992
00:49:56,160 --> 00:49:58,279
Speaker 2: going on there with the with the Fox and Friends

993
00:49:58,320 --> 00:49:59,920
Speaker 2: people who are trying to make sense of this new

994
00:50:00,080 --> 00:50:03,120
Speaker 2: world where Elon and Trump are at odds with one another.

995
00:50:03,400 --> 00:50:06,600
Speaker 4: He did criticize Trump on the Bannon did criticize Trump

996
00:50:06,680 --> 00:50:09,760
Speaker 4: on the H one B front and every time directly

997
00:50:09,800 --> 00:50:11,239
Speaker 4: and every time he would say, we love you, You're

998
00:50:11,280 --> 00:50:13,640
Speaker 4: the greatest. We've disagreed with you on this for a

999
00:50:13,719 --> 00:50:18,640
Speaker 4: long time. And I remember there was this Bannon interview

1000
00:50:18,719 --> 00:50:20,640
Speaker 4: that Bannon did when he was just a radio host

1001
00:50:20,800 --> 00:50:23,759
Speaker 4: in twenty fifteen with Trump and they were arguing about

1002
00:50:23,880 --> 00:50:24,399
Speaker 4: H one BS.

1003
00:50:24,480 --> 00:50:26,560
Speaker 2: Well, it looks like Bannon ultimately won that fight because

1004
00:50:26,560 --> 00:50:29,640
Speaker 2: at the time Trump rhetorically back to the you know, yes,

1005
00:50:29,760 --> 00:50:33,400
Speaker 2: we support H one B side of things, but in practice,

1006
00:50:33,440 --> 00:50:35,960
Speaker 2: in terms of the policy, it's been Steven Miller's policy agenda,

1007
00:50:36,080 --> 00:50:40,200
Speaker 2: and obviously they're going aggressively after foreign students and visa holders,

1008
00:50:40,280 --> 00:50:41,799
Speaker 2: so you know, Ultimately, he.

1009
00:50:41,840 --> 00:50:44,320
Speaker 4: Was sad enough to know he could criticize Trump, not personally,

1010
00:50:44,560 --> 00:50:46,920
Speaker 4: just like go on the policy. Yeah, and that he

1011
00:50:47,080 --> 00:50:49,520
Speaker 4: would probably win because he had Stephen Miller, who Trump

1012
00:50:49,640 --> 00:50:53,680
Speaker 4: told I think it was MBZ and you a, he

1013
00:50:53,760 --> 00:50:57,040
Speaker 4: told some emirate, some leader, and he's like, this is

1014
00:50:57,040 --> 00:50:59,360
Speaker 4: the guy who runs my administration. That's how he introduced

1015
00:50:59,360 --> 00:50:59,879
Speaker 4: Steven Miller.

1016
00:51:00,000 --> 00:51:02,120
Speaker 3: That's right. I think there's a lot to that.

1017
00:51:02,280 --> 00:51:06,279
Speaker 2: Yeah, yeah, you see who was calling the shots in

1018
00:51:06,360 --> 00:51:09,600
Speaker 2: terms of speaking for the boss. There's some weirdness around

1019
00:51:09,640 --> 00:51:12,839
Speaker 2: the deficit conversation that's going on on the Republican side

1020
00:51:13,239 --> 00:51:16,920
Speaker 2: because you have people like Rand Paul Ron Johnson who

1021
00:51:16,960 --> 00:51:19,560
Speaker 2: are upset about the amount that the bill blows up

1022
00:51:19,600 --> 00:51:22,960
Speaker 2: the deficit. But the reason the bill blows up the

1023
00:51:23,000 --> 00:51:25,360
Speaker 2: deficit is because of these gigantic tax cuts for the

1024
00:51:25,480 --> 00:51:30,319
Speaker 2: rich that they ideologically support. And so there's we can

1025
00:51:30,360 --> 00:51:31,960
Speaker 2: put the numbers up on the screen. Here, there's a

1026
00:51:32,080 --> 00:51:35,400
Speaker 2: chart that they assembled, Steve Rattner actually assembled, but I

1027
00:51:35,440 --> 00:51:37,480
Speaker 2: think it's useful to look at that shows how much

1028
00:51:37,560 --> 00:51:40,520
Speaker 2: this does blow up the deficit compared to other large

1029
00:51:40,719 --> 00:51:44,120
Speaker 2: packages in recent years. I mean the Biperson Infrastructure Bill,

1030
00:51:44,200 --> 00:51:46,279
Speaker 2: is nowhere close. But even if you look at the

1031
00:51:46,320 --> 00:51:48,600
Speaker 2: American Rescue Plan, which is the first COVID package that

1032
00:51:48,680 --> 00:51:50,960
Speaker 2: cares or sorry, which was the second one, the CARES Act,

1033
00:51:51,000 --> 00:51:53,880
Speaker 2: which was the first one, the original Tax Cuts and

1034
00:51:53,960 --> 00:51:56,200
Speaker 2: Jobs Act, which was the original giant giveaway to the rich.

1035
00:51:56,440 --> 00:51:58,439
Speaker 2: You know this this blows these out of the water.

1036
00:51:58,719 --> 00:52:01,200
Speaker 2: But they can't really say that because they're supposed to

1037
00:52:01,239 --> 00:52:04,879
Speaker 2: be really ideologically committed to the tax cuts, and also

1038
00:52:04,960 --> 00:52:07,360
Speaker 2: because they're supposed to be really ideologically opposed to the

1039
00:52:07,440 --> 00:52:10,480
Speaker 2: CBO and scoring the tax cuts in like anything approaching

1040
00:52:10,520 --> 00:52:13,399
Speaker 2: a reasonable way and not just pretending like tax cuts

1041
00:52:13,400 --> 00:52:15,640
Speaker 2: are fairy dust and they make you know, they make

1042
00:52:15,719 --> 00:52:19,680
Speaker 2: deficits magically go away. So instead they've been honing in on, well,

1043
00:52:19,719 --> 00:52:23,600
Speaker 2: it increases the debt ceiling, and that's what we really

1044
00:52:23,760 --> 00:52:25,680
Speaker 2: are opposed to. So what do you make of some

1045
00:52:25,800 --> 00:52:27,120
Speaker 2: of those dynamics there.

1046
00:52:28,600 --> 00:52:32,320
Speaker 4: Yeah, it's it's cowardly because the debt, the debt ceiling

1047
00:52:32,440 --> 00:52:34,680
Speaker 4: is not a real thing. It's it's a it's a

1048
00:52:34,760 --> 00:52:39,040
Speaker 4: manufactured yeah, product of an old, very old way of

1049
00:52:39,400 --> 00:52:44,080
Speaker 4: thinking about financing the government. And it's ridiculous. And I've

1050
00:52:44,680 --> 00:52:46,680
Speaker 4: said over you know, I got to be consistent here.

1051
00:52:46,840 --> 00:52:48,440
Speaker 4: It's it's a it's a ridiculous thing.

1052
00:52:48,560 --> 00:52:49,600
Speaker 3: Yes, it should go away.

1053
00:52:49,719 --> 00:52:54,920
Speaker 4: The Congress appropriates money and authorizes the FED or the

1054
00:52:54,960 --> 00:52:57,680
Speaker 4: government to borrow certain amounts of money produced, you know,

1055
00:52:58,000 --> 00:53:03,200
Speaker 4: to pay for particular programs and to do particular spending,

1056
00:53:03,360 --> 00:53:05,560
Speaker 4: like they do that. And then we throw in this

1057
00:53:05,760 --> 00:53:09,560
Speaker 4: extra step where you have to then also authorize the

1058
00:53:09,640 --> 00:53:12,239
Speaker 4: limit on which the debt can be generated. It's like,

1059
00:53:12,920 --> 00:53:15,000
Speaker 4: one does this right, you already did all those things,

1060
00:53:15,160 --> 00:53:16,759
Speaker 4: like you pass all those things, like get get rid

1061
00:53:16,800 --> 00:53:21,600
Speaker 4: of this thing, and so, but it lands for voters

1062
00:53:21,960 --> 00:53:24,560
Speaker 4: because it's one thing, and it's one number, like you

1063
00:53:24,640 --> 00:53:28,560
Speaker 4: want to borrow five trillion dollars, that's crazy, that's an

1064
00:53:28,600 --> 00:53:32,160
Speaker 4: insane number. And so for a politician, it's easier for them,

1065
00:53:32,760 --> 00:53:35,760
Speaker 4: I think, Yeah, just to just latch onto that. Did

1066
00:53:35,840 --> 00:53:36,799
Speaker 4: we just have the RUSS vote?

1067
00:53:36,880 --> 00:53:37,080
Speaker 3: Yeah?

1068
00:53:37,080 --> 00:53:38,759
Speaker 2: Put B six up on the screen. No, we haven't

1069
00:53:38,760 --> 00:53:41,160
Speaker 2: talked about this yet. We've got a RUSS vote. Tweet

1070
00:53:41,200 --> 00:53:42,160
Speaker 2: here his spin.

1071
00:53:42,760 --> 00:53:45,560
Speaker 4: O and B director. This is the brains of this operation,

1072
00:53:45,880 --> 00:53:48,120
Speaker 4: Like this is the real revolutionary this is.

1073
00:53:48,120 --> 00:53:49,359
Speaker 3: The Project twenty twenty five.

1074
00:53:49,480 --> 00:53:49,640
Speaker 12: Guy.

1075
00:53:50,239 --> 00:53:51,000
Speaker 3: You know, he's the one.

1076
00:53:51,239 --> 00:53:53,440
Speaker 2: What did he say, thinks federal government workers need to

1077
00:53:53,480 --> 00:53:54,880
Speaker 2: be put through trauma or something like that.

1078
00:53:55,320 --> 00:53:58,160
Speaker 4: Yes, like he is, this guy is hardcore. He and

1079
00:53:58,239 --> 00:54:01,520
Speaker 4: Stephen Miller together being basically the two most powerful people

1080
00:54:02,080 --> 00:54:06,200
Speaker 4: in this government is just a startling turn of events

1081
00:54:06,239 --> 00:54:13,040
Speaker 4: over the last one hundred years. Like these are absolutely revolutionary, gentleman.

1082
00:54:13,760 --> 00:54:18,080
Speaker 4: So he writes here, omb just reviewed the new CBO

1083
00:54:18,239 --> 00:54:20,680
Speaker 4: score of the One Big Beautiful Bill. It confirms what

1084
00:54:20,760 --> 00:54:22,640
Speaker 4: we knew about the bill at House passes. The bill

1085
00:54:22,760 --> 00:54:27,359
Speaker 4: reduces deficits by one point four trillion over ten years

1086
00:54:27,480 --> 00:54:31,279
Speaker 4: when you adjust the CBO's one big gimmick not using

1087
00:54:31,360 --> 00:54:34,839
Speaker 4: a realistic current policy baseline. It includes one point seven

1088
00:54:34,920 --> 00:54:37,960
Speaker 4: trillion dollars in mandatory savings, the most in history. If

1089
00:54:38,000 --> 00:54:40,960
Speaker 4: you care about deficits and debt, this bill dramatically improves

1090
00:54:41,040 --> 00:54:44,759
Speaker 4: the fiscal picture. And so he does two things here.

1091
00:54:44,880 --> 00:54:49,320
Speaker 4: One is he says it's not fair to use the

1092
00:54:49,400 --> 00:54:53,360
Speaker 4: CBO's approach. These tax cuts were never going to expire,

1093
00:54:53,440 --> 00:54:55,760
Speaker 4: so we should not assume they were going to expire

1094
00:54:55,800 --> 00:54:58,120
Speaker 4: and then count that against us. Except the problem is

1095
00:54:58,200 --> 00:55:03,200
Speaker 4: Wall Street and the bond markets. That's they think about

1096
00:55:03,239 --> 00:55:06,440
Speaker 4: it much more closely to the CBO like that. The

1097
00:55:06,560 --> 00:55:10,439
Speaker 4: CBO and the bond markets agree. Therefore the bond market

1098
00:55:10,480 --> 00:55:12,880
Speaker 4: has to say in this, and that's where the movements

1099
00:55:12,920 --> 00:55:15,560
Speaker 4: and interest rates are going to come from. The second

1100
00:55:15,600 --> 00:55:19,719
Speaker 4: thing he does is he bullies OMB into giving him

1101
00:55:19,760 --> 00:55:22,720
Speaker 4: the numbers that he wants, like he runs the OMB,

1102
00:55:23,400 --> 00:55:27,440
Speaker 4: and he's not. He's going to start with a conclusion

1103
00:55:27,920 --> 00:55:31,600
Speaker 4: and demand that they generated. And this I know from

1104
00:55:31,640 --> 00:55:35,360
Speaker 4: sources inside OMB, and there's been plenty of reporting about this,

1105
00:55:35,960 --> 00:55:39,560
Speaker 4: and so what he told them basically is you need

1106
00:55:39,719 --> 00:55:45,200
Speaker 4: to conclude that cutting all of these taxes is going

1107
00:55:45,280 --> 00:55:49,640
Speaker 4: to produce x amount of economic growth, which will then

1108
00:55:49,800 --> 00:55:54,800
Speaker 4: lead to more tax revenue, which will then cut the deficit.

1109
00:55:56,080 --> 00:55:58,919
Speaker 4: Maybe it will, there's but there's no reason to think

1110
00:55:59,000 --> 00:56:01,040
Speaker 4: over all of the years that this has been tried

1111
00:56:01,280 --> 00:56:03,760
Speaker 4: that that is what will actually happen in practice.

1112
00:56:03,800 --> 00:56:05,840
Speaker 2: No, of course not, because they'll just like you know,

1113
00:56:05,960 --> 00:56:09,760
Speaker 2: richbe Wiles will not. You said this, well, it certainly

1114
00:56:09,760 --> 00:56:12,799
Speaker 2: will not increase the real economy. They'll be more share

1115
00:56:12,880 --> 00:56:15,960
Speaker 2: buybacks and things of that nature, more financial engineering, you know,

1116
00:56:16,080 --> 00:56:17,440
Speaker 2: more in wealth inequality.

1117
00:56:17,520 --> 00:56:19,480
Speaker 3: There'll be all of that for sure.

1118
00:56:20,040 --> 00:56:23,239
Speaker 2: But but yeah, I mean, it's it and The other

1119
00:56:23,320 --> 00:56:25,360
Speaker 2: thing is here in terms of the gimmick he what

1120
00:56:25,440 --> 00:56:27,840
Speaker 2: he's saying with the Tax Cuts and Jobs Act and

1121
00:56:27,880 --> 00:56:30,560
Speaker 2: what he's talking about with the policy baseline is when

1122
00:56:30,640 --> 00:56:33,279
Speaker 2: they passed that bill, part of what they did to

1123
00:56:33,400 --> 00:56:35,840
Speaker 2: monkey around with the numbers and make sure that it

1124
00:56:36,000 --> 00:56:39,319
Speaker 2: didn't say an even more gigantic number that was being

1125
00:56:39,360 --> 00:56:41,359
Speaker 2: added to the debt and the deficit was that they

1126
00:56:41,560 --> 00:56:44,520
Speaker 2: had a technical sun setting of these rates.

1127
00:56:44,800 --> 00:56:45,959
Speaker 3: And now you say, oh, we never.

1128
00:56:45,920 --> 00:56:48,560
Speaker 2: Intended those rates to go away, so you shouldn't Now

1129
00:56:48,640 --> 00:56:50,640
Speaker 2: you shouldn't count it in. So they didn't want to

1130
00:56:50,680 --> 00:56:52,600
Speaker 2: count it in the first time, and now they don't

1131
00:56:52,600 --> 00:56:53,120
Speaker 2: want to count it.

1132
00:56:53,160 --> 00:56:55,560
Speaker 3: In now either. Is that that's the you know, the

1133
00:56:55,800 --> 00:56:57,000
Speaker 3: fuzzy math that they're.

1134
00:56:56,840 --> 00:56:59,360
Speaker 4: Engaged in here, Ryan, Right, And so russ vote testified

1135
00:56:59,440 --> 00:57:02,760
Speaker 4: yesterday in Congress about the dire consequences of not passing

1136
00:57:03,040 --> 00:57:07,240
Speaker 4: the big beautiful bill. Let's roll this. If HR one fails,

1137
00:57:07,920 --> 00:57:10,960
Speaker 4: if whatever comes back from the Senate fails to get

1138
00:57:11,000 --> 00:57:12,879
Speaker 4: to the desk of the President and signed in the wall,

1139
00:57:12,960 --> 00:57:14,239
Speaker 4: what happens at the end of this year.

1140
00:57:14,600 --> 00:57:16,320
Speaker 13: I think we'll have a recession. I think we will

1141
00:57:16,480 --> 00:57:19,760
Speaker 13: be economic storm clouds will be very dark. I think

1142
00:57:19,800 --> 00:57:22,560
Speaker 13: we'll have a sixty percent tax increase in the American people.

1143
00:57:23,160 --> 00:57:26,680
Speaker 13: And just to if I could answer Cronsman Hoyer's question

1144
00:57:27,360 --> 00:57:31,000
Speaker 13: or statement, the notion that this bill, I mean, we've

1145
00:57:31,000 --> 00:57:36,920
Speaker 13: been actually criticized unfairly on the Reconciliation Bill for the

1146
00:57:37,000 --> 00:57:40,200
Speaker 13: fact that it is all mandatory savers. I mean, you said, look,

1147
00:57:40,840 --> 00:57:42,800
Speaker 13: we need to address the mandatory side of the House.

1148
00:57:42,880 --> 00:57:46,320
Speaker 13: There's one point seven trillion dollars in mandatory savers on

1149
00:57:46,720 --> 00:57:49,240
Speaker 13: the Reconciliation bill. Do we need to do things on

1150
00:57:49,320 --> 00:57:52,080
Speaker 13: the appropriation side the discretionary side. Yes, that's what we're

1151
00:57:52,120 --> 00:57:54,360
Speaker 13: here to talk about with recisions and the bill that

1152
00:57:54,520 --> 00:57:57,520
Speaker 13: we've the budget that we've sent up to you. But

1153
00:57:57,800 --> 00:58:00,120
Speaker 13: we have to get back to what we did in

1154
00:58:00,240 --> 00:58:03,520
Speaker 13: nineteen ninety seven, where we had for the first time

1155
00:58:03,720 --> 00:58:08,520
Speaker 13: substantial mandatory reforms around not just cutting people and just

1156
00:58:08,600 --> 00:58:12,520
Speaker 13: getting people off programs, but reforms a work requirement. We're

1157
00:58:12,600 --> 00:58:15,680
Speaker 13: using the same model that Bill Clinton signed into law,

1158
00:58:15,880 --> 00:58:20,440
Speaker 13: and we think it will have incredible impact on not

1159
00:58:20,680 --> 00:58:23,200
Speaker 13: just these programs, but giving people dignity of work.

1160
00:58:23,560 --> 00:58:27,320
Speaker 4: And we're not going to be ashamed by that mandatory means,

1161
00:58:27,360 --> 00:58:30,320
Speaker 4: you know, Medicare and Medicaid, solid security, those types of products.

1162
00:58:30,360 --> 00:58:33,520
Speaker 4: When Bill Clinton and the Republican House and Senate did

1163
00:58:33,600 --> 00:58:36,200
Speaker 4: this last time, the way that they saved money was

1164
00:58:36,240 --> 00:58:39,600
Speaker 4: by kicking people off programs like any So he's saying

1165
00:58:39,720 --> 00:58:42,280
Speaker 4: right there, we should do it like Bill Clinton did.

1166
00:58:42,320 --> 00:58:45,400
Speaker 4: And Bill Clinton also did work requirements in order to

1167
00:58:45,520 --> 00:58:48,000
Speaker 4: kick people off the programs.

1168
00:58:48,160 --> 00:58:50,480
Speaker 2: CBO says that if this bill goes into law, ten

1169
00:58:50,560 --> 00:58:53,760
Speaker 2: million fewer Americans will have health cut insurance coverage, mostly

1170
00:58:53,800 --> 00:58:56,240
Speaker 2: from getting kicked off of Medicaid, but there are also

1171
00:58:56,320 --> 00:58:58,880
Speaker 2: some changes to Affordable Care Act and Medicare that will

1172
00:58:58,960 --> 00:59:02,080
Speaker 2: lead to losses and coverage. So you're talking about ten

1173
00:59:02,160 --> 00:59:05,560
Speaker 2: million more Americans losing their health insurance coverage in order

1174
00:59:05,600 --> 00:59:07,400
Speaker 2: to fund giant tax skift for the rich, not to

1175
00:59:07,440 --> 00:59:09,640
Speaker 2: mention cuts the snap and food you know, food stances.

1176
00:59:09,440 --> 00:59:11,560
Speaker 4: Right, and unfortunately for all of us, those people don't

1177
00:59:11,600 --> 00:59:15,880
Speaker 4: stop getting sick, having heart attacks, having diabetes, having health

1178
00:59:16,440 --> 00:59:19,560
Speaker 4: complications that need to be treated. So you don't actually

1179
00:59:19,640 --> 00:59:22,600
Speaker 4: save money out of the entire economy, right, You're just

1180
00:59:22,680 --> 00:59:26,720
Speaker 4: moving it around. And it's cheaper to give people medicaid

1181
00:59:26,880 --> 00:59:29,520
Speaker 4: as a society, yes, than it is to treat them.

1182
00:59:29,720 --> 00:59:32,240
Speaker 2: Yeah, that's in the emergence why we have the most

1183
00:59:32,440 --> 00:59:36,960
Speaker 2: expensive healthcare you know regime in the you know, in

1184
00:59:37,000 --> 00:59:41,040
Speaker 2: the developing world, in the world, because we have these

1185
00:59:41,160 --> 00:59:43,320
Speaker 2: little piece meal and you got to pay, and you know,

1186
00:59:43,440 --> 00:59:45,720
Speaker 2: millions of people don't get coverage at all, and it

1187
00:59:45,960 --> 00:59:49,880
Speaker 2: ends up being incredibly penny wise and pound foolish because

1188
00:59:49,880 --> 00:59:51,560
Speaker 2: at the end of the day, what you end up

1189
00:59:51,560 --> 00:59:53,840
Speaker 2: paying for is the most expensive type of care where

1190
00:59:53,840 --> 00:59:56,400
Speaker 2: people don't go to the doctor, they don't take preventative

1191
00:59:56,400 --> 00:59:58,960
Speaker 2: measures because they can't afford to, and then you're at

1192
00:59:59,000 --> 01:00:02,360
Speaker 2: the emergency room, you know, in crisis, which is obviously

1193
01:00:02,520 --> 01:00:04,880
Speaker 2: terrible for human beings and also you know, terrible for

1194
01:00:04,920 --> 01:00:05,320
Speaker 2: the budget.

1195
01:00:05,560 --> 01:00:09,880
Speaker 4: And also because the Supreme Court struck down the medicaid

1196
01:00:09,920 --> 01:00:13,120
Speaker 4: expansion in Obamacare, that left it up to each individual

1197
01:00:13,240 --> 01:00:17,360
Speaker 4: state for whether or not they would expand medicaid. Most

1198
01:00:17,440 --> 01:00:20,400
Speaker 4: of those red states had to be pushed by the

1199
01:00:20,520 --> 01:00:23,120
Speaker 4: people in the states. So a bunch of red states

1200
01:00:23,840 --> 01:00:28,760
Speaker 4: only expanded medicaid via constitutional amendment. They would put it

1201
01:00:28,840 --> 01:00:31,480
Speaker 4: on the ballot, the people went out and voted for it.

1202
01:00:31,800 --> 01:00:35,320
Speaker 4: We thought, okay, this is over, Like like everybody's fought

1203
01:00:35,400 --> 01:00:37,520
Speaker 4: for this, and now they Medicaid expansion is in there,

1204
01:00:38,320 --> 01:00:41,040
Speaker 4: but you get a revolutionary like vote in there, and

1205
01:00:41,280 --> 01:00:45,240
Speaker 4: he's going to then cut the Medicaid federal match that

1206
01:00:45,400 --> 01:00:49,680
Speaker 4: goes to these Red states. But look what happened. They

1207
01:00:49,760 --> 01:00:54,040
Speaker 4: put it in their constitutions. So the Red States don't

1208
01:00:54,120 --> 01:00:57,480
Speaker 4: actually have the option of dialing it back like they

1209
01:00:57,600 --> 01:01:00,520
Speaker 4: have to spend this because they agree to do it

1210
01:01:00,600 --> 01:01:03,880
Speaker 4: in their constitution. So now the Red state has to

1211
01:01:03,960 --> 01:01:08,880
Speaker 4: either raise taxes or they have to cut spending somewhere

1212
01:01:08,920 --> 01:01:16,360
Speaker 4: else to meet their constitutional obligations. So who's he screwing here, right,

1213
01:01:16,640 --> 01:01:16,959
Speaker 4: A lot.

1214
01:01:16,880 --> 01:01:19,400
Speaker 2: Of Red states, of a lot of maga. Yes, Steve

1215
01:01:19,440 --> 01:01:21,840
Speaker 2: Bannon would say, yes, all right, let's go and turn

1216
01:01:21,920 --> 01:01:22,720
Speaker 2: to Israel.

1217
01:01:25,760 --> 01:01:29,360
Speaker 4: So NBC's Andrea Mitchell has been attending the State Department

1218
01:01:29,880 --> 01:01:36,040
Speaker 4: press briefings frequently since the Trump administration began, and has

1219
01:01:36,120 --> 01:01:43,120
Speaker 4: been pressing Tammy Bruce, particularly on Israel's genocidal campaign in Gaza,

1220
01:01:43,160 --> 01:01:47,040
Speaker 4: as well as its starvation campaign and the collapse of

1221
01:01:47,080 --> 01:01:51,680
Speaker 4: its aid distribution project. Here's an example just from yesterday

1222
01:01:51,720 --> 01:01:53,400
Speaker 4: of the way that she's been going back and forth

1223
01:01:53,480 --> 01:01:55,640
Speaker 4: with Tammy Bruce Andrew.

1224
01:01:56,640 --> 01:01:57,800
Speaker 13: On that because.

1225
01:01:59,120 --> 01:02:00,520
Speaker 6: No one should jumped inclusions.

1226
01:02:00,560 --> 01:02:02,120
Speaker 5: We all have reporters on the ground.

1227
01:02:02,360 --> 01:02:05,720
Speaker 8: Israel has not that US based reporters in, but we

1228
01:02:05,880 --> 01:02:11,280
Speaker 8: have partners there and staff members there who have been

1229
01:02:11,760 --> 01:02:16,520
Speaker 8: courageously there since October seventh doing this job. And if

1230
01:02:16,920 --> 01:02:21,400
Speaker 8: unlike other war zones, even plane in Kiraki elsewhere where

1231
01:02:22,760 --> 01:02:26,360
Speaker 8: US reporters have always been in Viannam, this is the

1232
01:02:26,480 --> 01:02:28,880
Speaker 8: first conflict whom we have not been able to go

1233
01:02:29,000 --> 01:02:30,360
Speaker 8: in accept with IDFX.

1234
01:02:30,880 --> 01:02:32,240
Speaker 4: You know escorts work.

1235
01:02:32,400 --> 01:02:35,960
Speaker 8: What he said was not just misleading reports in the

1236
01:02:36,080 --> 01:02:36,640
Speaker 8: fog of war.

1237
01:02:36,720 --> 01:02:39,600
Speaker 4: We all know what happens in some instances, and I'm.

1238
01:02:39,480 --> 01:02:42,440
Speaker 8: Not sure if it's these cases, but to suggest that

1239
01:02:43,400 --> 01:02:47,480
Speaker 8: the press reports fostered anti svagism, which led to the

1240
01:02:47,600 --> 01:02:49,640
Speaker 8: death of the two embassy.

1241
01:02:51,320 --> 01:02:55,240
Speaker 14: People here in Washington and to other antisemitic attacks in

1242
01:02:55,320 --> 01:03:03,560
Speaker 14: this country is hyperbole beyond what is normal diplomatic practice.

1243
01:03:03,600 --> 01:03:05,960
Speaker 14: And as a journalist and as a member of this

1244
01:03:06,120 --> 01:03:10,240
Speaker 14: press court, I think it's deeply offensive for someone who

1245
01:03:10,320 --> 01:03:13,240
Speaker 14: has well, I don't speak for Ambassador Huckaby.

1246
01:03:13,640 --> 01:03:18,960
Speaker 12: I understand Andrea, I know, I understand, and I understand

1247
01:03:19,000 --> 01:03:23,040
Speaker 12: the depth of your work and the work Andrea, I

1248
01:03:23,160 --> 01:03:25,280
Speaker 12: understand your work, the depth of your work, the work

1249
01:03:25,320 --> 01:03:28,680
Speaker 12: of people who cover war, and the dangers that exist.

1250
01:03:29,360 --> 01:03:33,280
Speaker 12: I don't speak for Ambassador Huckabee. I'm not going to

1251
01:03:33,560 --> 01:03:36,040
Speaker 12: parse what he has said, but what I can tell

1252
01:03:36,080 --> 01:03:40,360
Speaker 12: you is that inevitably, as we have all watched, the

1253
01:03:40,520 --> 01:03:43,880
Speaker 12: kind of Jew hatred and anti Semitism that has been

1254
01:03:44,440 --> 01:03:49,680
Speaker 12: promulgated through media has been NonStop even after October seventh,

1255
01:03:50,200 --> 01:03:52,600
Speaker 12: and that if you weren't involved in that, and others

1256
01:03:52,600 --> 01:03:54,320
Speaker 12: who are not involved in that, that's not who he's

1257
01:03:54,320 --> 01:03:57,960
Speaker 12: speaking about. I would argue that it would be naive

1258
01:03:58,120 --> 01:04:02,000
Speaker 12: to suggest that the the Jew hatred that whether it's

1259
01:04:02,040 --> 01:04:06,480
Speaker 12: through social media, through through fake news, through the rhetoric

1260
01:04:06,600 --> 01:04:12,640
Speaker 12: regarding Israel through the years, has not developed or perpetuated

1261
01:04:13,160 --> 01:04:14,160
Speaker 12: anti Semitism.

1262
01:04:15,120 --> 01:04:17,840
Speaker 3: Distribution and foods though certainly.

1263
01:04:17,520 --> 01:04:20,280
Speaker 8: I'm just saying that there is widespread criticism.

1264
01:04:19,920 --> 01:04:21,440
Speaker 4: And a service criticism.

1265
01:04:21,640 --> 01:04:24,400
Speaker 8: Yes, the consulting group that was supporting the.

1266
01:04:24,400 --> 01:04:28,080
Speaker 15: Foundation, which is back of it, that the distribution system

1267
01:04:28,440 --> 01:04:33,720
Speaker 15: was not as professional as audit excuse me, the World

1268
01:04:33,800 --> 01:04:35,920
Speaker 15: Food Program and other people who.

1269
01:04:35,800 --> 01:04:37,920
Speaker 8: Are used to working in this area, and that there

1270
01:04:37,920 --> 01:04:40,600
Speaker 8: should have been more distribution points where people would not

1271
01:04:40,720 --> 01:04:42,439
Speaker 8: have been told to line up.

1272
01:04:42,400 --> 01:04:45,600
Speaker 12: And Andrew again. I know, you know what, but these questions, now,

1273
01:04:45,680 --> 01:04:48,040
Speaker 12: these are these are critiques of an environment that we've

1274
01:04:48,120 --> 01:04:48,960
Speaker 12: talked about.

1275
01:04:48,840 --> 01:04:51,840
Speaker 3: Regularly every day, every time I'm up here.

1276
01:04:51,960 --> 01:04:55,000
Speaker 12: It is it is this critique of I say, seven

1277
01:04:55,080 --> 01:04:57,760
Speaker 12: million meals have been distributed, but you know it would

1278
01:04:57,800 --> 01:04:58,920
Speaker 12: have been but not for you.

1279
01:04:59,040 --> 01:04:59,600
Speaker 4: It should have been.

1280
01:04:59,560 --> 01:05:03,160
Speaker 12: Those guys over there or these people over here over

1281
01:05:03,240 --> 01:05:05,080
Speaker 12: the last three years, with the with the U n

1282
01:05:05,360 --> 01:05:09,040
Speaker 12: or the World Food Program, and no one has distributed

1283
01:05:09,160 --> 01:05:10,640
Speaker 12: seven million meals to Gaza.

1284
01:05:11,800 --> 01:05:14,400
Speaker 14: Many many, hundreds of thousands of people in Israel as

1285
01:05:14,440 --> 01:05:18,440
Speaker 14: well as the families the people being held by Almas

1286
01:05:18,800 --> 01:05:21,400
Speaker 14: are protesting is food decision.

1287
01:05:21,760 --> 01:05:25,080
Speaker 8: The former Defense minister criticized these decisions.

1288
01:05:25,400 --> 01:05:31,280
Speaker 12: There's well, I'm sorry, andre Andrea, I understand, I understand.

1289
01:05:32,160 --> 01:05:37,160
Speaker 4: So two different avenues there to unpack. The first one,

1290
01:05:37,240 --> 01:05:41,720
Speaker 4: she's standing up for journalists, saying it's unfair to say

1291
01:05:41,760 --> 01:05:48,760
Speaker 4: that the media is responsible for the embassy staffers getting killed.

1292
01:05:49,480 --> 01:05:51,640
Speaker 4: You what you make of that back and forth.

1293
01:05:51,920 --> 01:05:53,840
Speaker 2: I mean, first of all, it's just extraordinary that it's

1294
01:05:53,840 --> 01:05:57,360
Speaker 2: Andrew Mitchell in there, and you know, even this administration

1295
01:05:57,720 --> 01:06:00,800
Speaker 2: had like is much more deferential to me than they

1296
01:06:00,840 --> 01:06:01,960
Speaker 2: would be like maybe.

1297
01:06:01,760 --> 01:06:04,800
Speaker 4: Two for example, we appreciate the depth of your work.

1298
01:06:04,960 --> 01:06:08,439
Speaker 3: Yeah, we appreciate it. And I mean, like, God bless

1299
01:06:08,440 --> 01:06:09,200
Speaker 3: her for being in there.

1300
01:06:09,600 --> 01:06:09,800
Speaker 2: It up.

1301
01:06:09,880 --> 01:06:11,320
Speaker 3: She doesn't have to be doing any of this, So

1302
01:06:11,440 --> 01:06:12,800
Speaker 3: it's kind of wild to see that.

1303
01:06:13,240 --> 01:06:16,440
Speaker 2: And I think it's emblematic of you see her, you

1304
01:06:16,600 --> 01:06:21,040
Speaker 2: see Piers Morgan, you see you know German and French

1305
01:06:21,120 --> 01:06:23,720
Speaker 2: and other leaders who have gotten to a point where

1306
01:06:23,720 --> 01:06:27,400
Speaker 2: the okay, this is ridiculous, and you know, the media

1307
01:06:27,480 --> 01:06:30,160
Speaker 2: point Andrew Mitchell obviously.

1308
01:06:29,840 --> 01:06:32,320
Speaker 3: Is like a mainstream media institution.

1309
01:06:33,160 --> 01:06:37,280
Speaker 2: The idea that they have not been sufficiently pro Israel

1310
01:06:37,840 --> 01:06:41,479
Speaker 2: is so utterly preposterous as to not even be worth

1311
01:06:41,560 --> 01:06:45,880
Speaker 2: like dignifying arguing again, like, it's just so absurd even

1312
01:06:45,920 --> 01:06:47,880
Speaker 2: to this day, the type of headlines you cover, the

1313
01:06:47,960 --> 01:06:50,960
Speaker 2: Washington Post thing where they put out this obsequious apology

1314
01:06:51,320 --> 01:06:55,200
Speaker 2: because they only had three witnesses to this massacre. Oh,

1315
01:06:55,280 --> 01:06:59,760
Speaker 2: how dare we not give enough credence to Israel's complaint?

1316
01:07:00,000 --> 01:07:04,720
Speaker 4: CNN came out last night with seventeen witnesses. Wow, seventeen eyewitnesses. Wow,

1317
01:07:04,880 --> 01:07:07,080
Speaker 4: that's saying that it was Israel. That and the washing

1318
01:07:07,160 --> 01:07:09,400
Speaker 4: post stills. You know, we're so sorry we didn't give

1319
01:07:09,440 --> 01:07:11,800
Speaker 4: proper weight to this Israeli denial of the thing that

1320
01:07:12,160 --> 01:07:13,320
Speaker 4: everybody saw happen.

1321
01:07:13,520 --> 01:07:13,720
Speaker 5: Yeah.

1322
01:07:13,920 --> 01:07:16,240
Speaker 2: So, I mean so, I think the fact that you

1323
01:07:16,320 --> 01:07:19,520
Speaker 2: have even and Andrea Mitchell, who's in there like this

1324
01:07:19,720 --> 01:07:22,360
Speaker 2: is ridiculous bullshit and going back and forth. I think

1325
01:07:22,800 --> 01:07:25,240
Speaker 2: that is very indicative of the moment that we're in

1326
01:07:25,360 --> 01:07:25,600
Speaker 2: right now.

1327
01:07:25,720 --> 01:07:28,560
Speaker 4: And the second set of questions goes to the first point.

1328
01:07:28,720 --> 01:07:33,280
Speaker 4: It's not the media that has created the Gods of

1329
01:07:33,400 --> 01:07:38,840
Speaker 4: Humanitarian Foundation crisis. It's Israel that produced this. It's not

1330
01:07:38,960 --> 01:07:43,160
Speaker 4: the messenger that you need to shoot. It's the IDF

1331
01:07:43,240 --> 01:07:45,920
Speaker 4: that is defending God's Humanitarian Foundation that is shooting all

1332
01:07:45,960 --> 01:07:48,520
Speaker 4: the people who are coming to get aid. And you

1333
01:07:48,640 --> 01:07:54,320
Speaker 4: keep seeing the administration and Israeli supporters saying that they

1334
01:07:54,440 --> 01:07:57,520
Speaker 4: delivered seven million meals. She says, what do you want

1335
01:07:57,560 --> 01:07:59,320
Speaker 4: from us? Nobody had figured out how to get aid

1336
01:07:59,360 --> 01:08:01,000
Speaker 4: in and now all of us sudden, we've gotten seven

1337
01:08:01,120 --> 01:08:03,800
Speaker 4: million meals in this week. And it's like, well, first

1338
01:08:03,840 --> 01:08:05,520
Speaker 4: of all, that's not true that nobody had figured out

1339
01:08:05,520 --> 01:08:06,040
Speaker 4: how to get aid in.

1340
01:08:06,120 --> 01:08:08,120
Speaker 3: Yeah, they had quite an effective distribution system.

1341
01:08:08,160 --> 01:08:09,680
Speaker 4: Yeah, the eight agencies were getting aid in it.

1342
01:08:10,120 --> 01:08:11,439
Speaker 3: It was hard for them to get shot.

1343
01:08:11,680 --> 01:08:13,920
Speaker 4: It was hard for them to get through the crossings

1344
01:08:13,960 --> 01:08:17,400
Speaker 4: because Israelis would sometimes allow no trucks, sometimes ten, sometimes

1345
01:08:17,439 --> 01:08:19,560
Speaker 4: one hundred. But once they got in, you know, the

1346
01:08:20,000 --> 01:08:23,519
Speaker 4: aid was getting distributed and you weren't seeing you weren't

1347
01:08:23,520 --> 01:08:27,680
Speaker 4: seeing chaotic scenes. So but but now you are. And

1348
01:08:27,840 --> 01:08:32,599
Speaker 4: so she keeps highlighting this seven million figure. But if

1349
01:08:32,640 --> 01:08:34,880
Speaker 4: you do the math on that, there's two million people

1350
01:08:35,000 --> 01:08:39,760
Speaker 4: plus in Gaza. That means that's and they're talking about

1351
01:08:39,800 --> 01:08:42,679
Speaker 4: over a week, you know, seven million for a week.

1352
01:08:42,760 --> 01:08:46,559
Speaker 4: That's three and a half meals per week per person,

1353
01:08:48,479 --> 01:08:51,640
Speaker 4: and there is no aid coming from anywhere else. So

1354
01:08:51,720 --> 01:08:53,599
Speaker 4: it's not as if this is just supplementing what you're

1355
01:08:53,840 --> 01:08:56,240
Speaker 4: what people are already getting. Yeah, like that's what they're

1356
01:08:56,560 --> 01:08:58,240
Speaker 4: that's what people are getting, and that's on.

1357
01:08:58,280 --> 01:09:00,679
Speaker 3: Average if you take their numbers at face value.

1358
01:09:00,880 --> 01:09:01,519
Speaker 4: If you take your.

1359
01:09:01,439 --> 01:09:04,560
Speaker 2: Numbers of face value, the mostable to them as you

1360
01:09:04,600 --> 01:09:05,360
Speaker 2: possibly could.

1361
01:09:05,240 --> 01:09:08,720
Speaker 4: Be agentsI say you shouldn't, and because of the way

1362
01:09:08,760 --> 01:09:12,200
Speaker 4: they're chaotically delivering it, the stronger getting most of it.

1363
01:09:12,880 --> 01:09:15,880
Speaker 4: So maybe some people are getting twenty meals a week

1364
01:09:15,920 --> 01:09:19,800
Speaker 4: and most everybody else is getting zero and they're not

1365
01:09:19,960 --> 01:09:23,800
Speaker 4: the kind of nutritious meals. Jeremy Lefredo, for a drop

1366
01:09:23,880 --> 01:09:27,360
Speaker 4: site News just went to an unawarehouse in Jordan. We

1367
01:09:27,400 --> 01:09:30,240
Speaker 4: should maybe we can play that clip next week and

1368
01:09:30,320 --> 01:09:33,000
Speaker 4: he tours it and there's all this food expiring. But

1369
01:09:33,120 --> 01:09:38,600
Speaker 4: it's very precisely regimented for people who are facing malnutrition

1370
01:09:38,760 --> 01:09:42,360
Speaker 4: and four people who are only getting this in their diet,

1371
01:09:42,720 --> 01:09:46,640
Speaker 4: and so it's very precisely formulated to have need to

1372
01:09:46,680 --> 01:09:48,280
Speaker 4: get all of the calories you need, all of the

1373
01:09:48,360 --> 01:09:52,759
Speaker 4: balanced diet you need. If you look at what God's

1374
01:09:52,880 --> 01:09:56,840
Speaker 4: Humanitarian Foundation is bringing in, it's like pasta right, It's

1375
01:09:56,920 --> 01:10:00,640
Speaker 4: like it's not what aid organization sans who've been doing

1376
01:10:00,680 --> 01:10:04,280
Speaker 4: this for a very long time would put together if

1377
01:10:04,360 --> 01:10:09,320
Speaker 4: it was up to them. So meanwhile, the isolation and

1378
01:10:09,439 --> 01:10:14,360
Speaker 4: the and the political problems facing the net Yahoo government,

1379
01:10:15,080 --> 01:10:18,160
Speaker 4: both internationally and domestically continue. We can put this next

1380
01:10:18,680 --> 01:10:22,680
Speaker 4: element up on the screen. French dock workers are refusing

1381
01:10:23,520 --> 01:10:28,240
Speaker 4: to load machine gun AMMO, destined for Israel's army. This

1382
01:10:28,320 --> 01:10:32,240
Speaker 4: comes as you know, Spain is cutting military contracts as

1383
01:10:32,600 --> 01:10:36,160
Speaker 4: there's a lot of pressure on the government of Ireland

1384
01:10:36,240 --> 01:10:39,800
Speaker 4: to abide by its own laws which say that weapons

1385
01:10:39,840 --> 01:10:43,080
Speaker 4: are not supposed to be shipped through their airspace. And

1386
01:10:43,240 --> 01:10:47,519
Speaker 4: so at every you know kink in the system, there's

1387
01:10:48,160 --> 01:10:50,479
Speaker 4: increasingly there's going to be pressure.

1388
01:10:50,640 --> 01:10:53,120
Speaker 2: I mean, here's what I would say. I think Chris

1389
01:10:53,160 --> 01:10:57,200
Speaker 2: Hedges was saying this to Hassan this week. The leaders

1390
01:10:57,200 --> 01:10:59,400
Speaker 2: are not going to do like were this far along.

1391
01:10:59,600 --> 01:11:01,400
Speaker 2: The leader are not going to end the stranger side.

1392
01:11:01,920 --> 01:11:04,720
Speaker 2: So it is up to actions like this to cut

1393
01:11:04,800 --> 01:11:07,200
Speaker 2: off the supply. And so to see these French dock

1394
01:11:07,280 --> 01:11:09,840
Speaker 2: workers standing in solidarity, it's you know, it's it's quite

1395
01:11:09,840 --> 01:11:11,120
Speaker 2: significant and we need.

1396
01:11:11,240 --> 01:11:13,280
Speaker 3: We need much more action like that around the world.

1397
01:11:13,720 --> 01:11:18,080
Speaker 4: Meanwhile, a very interesting coalition of bedfellows is coming together

1398
01:11:18,160 --> 01:11:21,920
Speaker 4: to put pressure on Yahoo. So the Haredi Party is

1399
01:11:22,000 --> 01:11:26,840
Speaker 4: threatening to kind of dissolve the Yahoo coalition. This is

1400
01:11:26,920 --> 01:11:29,000
Speaker 4: the ultra author this is you know, the leading party

1401
01:11:29,040 --> 01:11:34,439
Speaker 4: for the ultra Orthodox section of Israeli public. And it's

1402
01:11:34,479 --> 01:11:38,479
Speaker 4: all over whether or not kind of Heredi men and women,

1403
01:11:39,600 --> 01:11:42,240
Speaker 4: ultra Orthodox men and women would have to serve just

1404
01:11:42,360 --> 01:11:46,519
Speaker 4: like everybody else, every other Jewish citizen of Israel, you know,

1405
01:11:46,600 --> 01:11:52,799
Speaker 4: has to serve in the IDF and what's what's fascinating

1406
01:11:52,800 --> 01:11:55,599
Speaker 4: about this? And Amir Tabone and also in Hirez has

1407
01:11:55,640 --> 01:12:00,160
Speaker 4: a very useful kind of analysis that can explain and

1408
01:12:00,600 --> 01:12:02,240
Speaker 4: how the politics of this are all shaking up. But

1409
01:12:02,320 --> 01:12:08,280
Speaker 4: basically there's a fundamental contradiction that can't be resolved. One

1410
01:12:08,400 --> 01:12:12,280
Speaker 4: is that Netnahu Smoe Church Benngavir want a never ending

1411
01:12:12,360 --> 01:12:15,840
Speaker 4: war to realize what they see as a once in

1412
01:12:15,960 --> 01:12:21,240
Speaker 4: several generations opportunity to fully expel the Palestinians from Gaza,

1413
01:12:21,400 --> 01:12:24,240
Speaker 4: like that's that's that's on the one hand. On the

1414
01:12:24,320 --> 01:12:29,719
Speaker 4: other hand is the material problem of not enough soldiers

1415
01:12:29,800 --> 01:12:36,440
Speaker 4: to carry out this genocidal task. Reconciling those two requires

1416
01:12:36,600 --> 01:12:39,760
Speaker 4: the ultra Orthodox. There's no other way to get there. Yeah,

1417
01:12:40,200 --> 01:12:45,400
Speaker 4: requires the ultra Orthodox to participate in the military, and

1418
01:12:46,040 --> 01:12:49,640
Speaker 4: they don't want to do that. So what what what

1419
01:12:49,840 --> 01:12:53,200
Speaker 4: they are now? They're not saying out loud that this

1420
01:12:53,320 --> 01:12:56,280
Speaker 4: is what they're doing, but there is a belief among

1421
01:12:56,400 --> 01:13:00,000
Speaker 4: some in the ultra Orthodox community that if the war ends,

1422
01:13:00,960 --> 01:13:06,040
Speaker 4: the pressure on them to participate in the military goes away,

1423
01:13:06,320 --> 01:13:10,200
Speaker 4: because the pressure is being driven by the war, right,

1424
01:13:10,720 --> 01:13:13,000
Speaker 4: and so a lot of people in Israel saying this

1425
01:13:13,040 --> 01:13:15,439
Speaker 4: is an act. This is Ntya who's not falling because

1426
01:13:15,479 --> 01:13:17,040
Speaker 4: of the gods of war. He's falling because of this

1427
01:13:17,200 --> 01:13:22,960
Speaker 4: internal dispute within Israeli society, of internal religious dispute. And

1428
01:13:23,640 --> 01:13:26,360
Speaker 4: that's true on a surface level, but it's only true

1429
01:13:27,600 --> 01:13:31,400
Speaker 4: because the war is making it something that can't be avoided.

1430
01:13:31,560 --> 01:13:34,000
Speaker 3: That's right, and we can put Shiles tweet hair up

1431
01:13:34,040 --> 01:13:34,559
Speaker 3: on the screen.

1432
01:13:34,800 --> 01:13:38,960
Speaker 2: He's talking about NETANYAHUO was apparently recorded saying that the

1433
01:13:39,080 --> 01:13:41,760
Speaker 2: reason he fired Defense Ministry you have goan in chief

1434
01:13:41,800 --> 01:13:44,800
Speaker 2: of staff Hertzi Hilevy, were because they were obstacles to

1435
01:13:44,920 --> 01:13:49,200
Speaker 2: allowing Haredi men that exemption from the army. This was

1436
01:13:49,280 --> 01:13:52,200
Speaker 2: a recording uppeared on Channel thirteen. Netnyahu's saying, we need

1437
01:13:52,240 --> 01:13:53,920
Speaker 2: to save not only the state of Israel, but also

1438
01:13:53,960 --> 01:13:56,360
Speaker 2: the Torah world. That is what I believe in God willing,

1439
01:13:56,439 --> 01:13:57,880
Speaker 2: that is what we've done to do this. We need

1440
01:13:58,000 --> 01:13:59,840
Speaker 2: time to pass the law properly so it cannot be

1441
01:14:00,080 --> 01:14:02,040
Speaker 2: challenge the law allowing this exemption.

1442
01:14:02,120 --> 01:14:03,759
Speaker 3: We had huge obstacles that we removed.

1443
01:14:04,080 --> 01:14:05,880
Speaker 2: You know, when the Defense minister is against you, the

1444
01:14:05,960 --> 01:14:08,000
Speaker 2: chief of staff is against you, you can't move forward.

1445
01:14:08,200 --> 01:14:11,640
Speaker 2: Now we can, so you know, exposing sort of how

1446
01:14:11,680 --> 01:14:16,320
Speaker 2: critical this fault line within Israeli society is and the

1447
01:14:16,640 --> 01:14:19,880
Speaker 2: particular issue right now, obviously it's military service, but there

1448
01:14:19,960 --> 01:14:25,160
Speaker 2: is a broader like demographic, significant longer term demographic issue

1449
01:14:25,400 --> 01:14:29,040
Speaker 2: which the ultra Orthodox have, you know, the largest families,

1450
01:14:29,600 --> 01:14:32,439
Speaker 2: so much of the demographics of the state are shifting

1451
01:14:32,560 --> 01:14:34,200
Speaker 2: towards being ultra Orthodox.

1452
01:14:34,560 --> 01:14:38,360
Speaker 3: But don't participate in the military, you know it don't work.

1453
01:14:38,520 --> 01:14:39,000
Speaker 3: Don't work.

1454
01:14:39,360 --> 01:14:42,840
Speaker 2: Yeah, And so the state really supports them. You know,

1455
01:14:42,920 --> 01:14:45,720
Speaker 2: in the US lingo, they're the ultimate welfare queens. And

1456
01:14:46,640 --> 01:14:49,519
Speaker 2: you know, if you have a shrinking population that is

1457
01:14:49,600 --> 01:14:53,719
Speaker 2: of the more liberal liberal in Israeli context, secular variety

1458
01:14:54,200 --> 01:14:58,280
Speaker 2: to support this growing ultra Orthodox population, you're going to

1459
01:14:58,360 --> 01:15:02,360
Speaker 2: have long term, very signific demographic issues. So long as

1460
01:15:02,439 --> 01:15:05,639
Speaker 2: you continue to deny basic rights to Palestinians who also

1461
01:15:05,680 --> 01:15:09,439
Speaker 2: have large families, you know, and you know, perfectly willing

1462
01:15:09,479 --> 01:15:09,800
Speaker 2: to work.

1463
01:15:10,000 --> 01:15:12,439
Speaker 3: But that's that's off the table as a solution apparently,

1464
01:15:12,840 --> 01:15:13,120
Speaker 3: right and.

1465
01:15:13,800 --> 01:15:18,800
Speaker 4: Right which before October seventh, you know, Palestinians made up

1466
01:15:18,800 --> 01:15:22,680
Speaker 4: a huge portion of the labor force in Israel, you know,

1467
01:15:23,720 --> 01:15:26,880
Speaker 4: crossing you know, mostly Westbac but also Gaza as well,

1468
01:15:28,360 --> 01:15:30,519
Speaker 4: and there have been efforts to bring in Indian workers

1469
01:15:30,600 --> 01:15:34,679
Speaker 4: and so on that you know haven't worked, you know, remotely,

1470
01:15:35,880 --> 01:15:41,400
Speaker 4: haven't worked remotely as well. The end of the Lebanon conflict,

1471
01:15:42,080 --> 01:15:46,920
Speaker 4: in the sense of having manpower in Lebanon bought Nannyahu

1472
01:15:47,080 --> 01:15:51,759
Speaker 4: some time. It is classic Nyah who that he doesn't

1473
01:15:51,800 --> 01:15:56,080
Speaker 4: have a solution to this irreconcilable problem, and so he's

1474
01:15:56,120 --> 01:15:57,800
Speaker 4: just trying to punt it forward, just trying to push

1475
01:15:57,840 --> 01:15:59,760
Speaker 4: it off. This one more week, one more day, where

1476
01:15:59,800 --> 01:16:00,719
Speaker 4: we I mean, that's.

1477
01:16:00,600 --> 01:16:03,000
Speaker 3: Worked for him so far, are last thing.

1478
01:16:03,080 --> 01:16:06,720
Speaker 2: Let's go ahead and show this extraordinary footage Ryan, and

1479
01:16:06,800 --> 01:16:08,680
Speaker 2: maybe you can explain what we're seeing, as supposed to

1480
01:16:08,720 --> 01:16:11,160
Speaker 2: by drop site news of these two men who recorded

1481
01:16:11,200 --> 01:16:15,599
Speaker 2: themselves trying to obtain food and coming under fire from

1482
01:16:15,640 --> 01:16:18,800
Speaker 2: the IDF machine guns firing over their heads.

1483
01:16:18,840 --> 01:16:19,000
Speaker 1: Here.

1484
01:16:19,600 --> 01:16:22,559
Speaker 4: Yeah, as you can hear in the in the background,

1485
01:16:23,560 --> 01:16:27,400
Speaker 4: this is the is These are gun shots. Let's be

1486
01:16:27,560 --> 01:16:29,840
Speaker 4: very careful here in our wording because we don't want

1487
01:16:29,840 --> 01:16:32,559
Speaker 4: to say anything that gets the IDF upset. These are

1488
01:16:32,600 --> 01:16:38,479
Speaker 4: gunshots coming from the Israeli positions. Bullets, bullets are emerging

1489
01:16:38,840 --> 01:16:42,920
Speaker 4: from Israeli weapons. Let's but you know, we can't know.

1490
01:16:43,200 --> 01:16:46,040
Speaker 2: Let's loan investigation a play out before you figure out.

1491
01:16:45,920 --> 01:16:46,519
Speaker 3: What really happens.

1492
01:16:46,520 --> 01:16:48,439
Speaker 4: We need an investigation to figure out how it is

1493
01:16:48,560 --> 01:16:52,120
Speaker 4: that the bullet exited the Israeli weapons.

1494
01:16:52,320 --> 01:16:54,880
Speaker 3: And how Mastrich them into it and forwarded.

1495
01:16:54,600 --> 01:17:00,320
Speaker 4: Itself towards the Palestinians who were seeking this this AID. Yeah,

1496
01:17:00,400 --> 01:17:05,920
Speaker 4: this is just another massacre, another debacle at an AID

1497
01:17:05,960 --> 01:17:10,439
Speaker 4: distribution site where they tell everybody calm at this time.

1498
01:17:11,120 --> 01:17:14,360
Speaker 4: And you know, basically first come, first serve. So of

1499
01:17:14,439 --> 01:17:18,040
Speaker 4: course when you have millions of people starving, you get

1500
01:17:18,120 --> 01:17:21,080
Speaker 4: chaos and then they and then they shoot at people.

1501
01:17:21,360 --> 01:17:24,000
Speaker 2: And I believe they have what four distribution sites set

1502
01:17:24,080 --> 01:17:26,800
Speaker 2: up previously, you know, during times when there was a

1503
01:17:27,080 --> 01:17:31,240
Speaker 2: more fully operational AID distribution network, you're talking about hundreds

1504
01:17:31,240 --> 01:17:34,720
Speaker 2: of sites scattered throughout the Gaza Strip. Now you have

1505
01:17:35,320 --> 01:17:39,200
Speaker 2: four sites in particular locations to your It's a literal

1506
01:17:39,560 --> 01:17:42,280
Speaker 2: hunger game situation where if you were strong enough to

1507
01:17:42,439 --> 01:17:44,400
Speaker 2: trek the miles and miles, you need to make it

1508
01:17:44,479 --> 01:17:47,080
Speaker 2: to one of those distribution sites and then to basically

1509
01:17:47,240 --> 01:17:52,080
Speaker 2: like fight your fellow Palestinian fellow Palestinians in order to

1510
01:17:52,120 --> 01:17:54,920
Speaker 2: grab a box of this not at all nutritious stuff

1511
01:17:55,320 --> 01:17:59,000
Speaker 2: and brave being fired upon those you know, those bullets

1512
01:17:59,080 --> 01:18:01,960
Speaker 2: exiting is really weapons however that occurred.

1513
01:18:02,760 --> 01:18:04,400
Speaker 3: That's that's what they've set up here.

1514
01:18:04,520 --> 01:18:07,840
Speaker 2: And it is such a brutal and horrific and unconscionable

1515
01:18:07,920 --> 01:18:12,720
Speaker 2: system that even the Boston consulting group has decided this

1516
01:18:12,960 --> 01:18:14,080
Speaker 2: is too much for them.

1517
01:18:14,640 --> 01:18:15,360
Speaker 3: And we, of course.

1518
01:18:15,240 --> 01:18:17,960
Speaker 2: Originally had the you know, American mercenary who was at

1519
01:18:18,000 --> 01:18:20,120
Speaker 2: the head of this thing. He dropped out before it

1520
01:18:20,200 --> 01:18:22,120
Speaker 2: even was put into place because he was like, Jesus,

1521
01:18:22,200 --> 01:18:24,320
Speaker 2: this is this is beyond this is bad, this is

1522
01:18:24,439 --> 01:18:26,800
Speaker 2: beyond what I am even willing to do. And now

1523
01:18:26,840 --> 01:18:30,280
Speaker 2: you have this, like, you know, completely soulless group of

1524
01:18:30,439 --> 01:18:33,400
Speaker 2: consultants who have also said, okay, we can't be involved

1525
01:18:33,439 --> 01:18:35,879
Speaker 2: with the quote unquote Gaza Humanitarian Foundation.

1526
01:18:36,120 --> 01:18:37,920
Speaker 4: Yeah, and they claim that they were doing it pro bono.

1527
01:18:38,080 --> 01:18:41,040
Speaker 4: Then there's it's like, actually there's a reporting that no,

1528
01:18:41,200 --> 01:18:43,680
Speaker 4: they're they're getting million dollars a month or a week

1529
01:18:43,760 --> 01:18:47,040
Speaker 4: or whatever it was. Well, we'll see, but yeah. So

1530
01:18:49,800 --> 01:18:54,000
Speaker 4: it's yeah, it's an absolute hell on earth. It's like

1531
01:18:54,160 --> 01:18:54,800
Speaker 4: squid Games.

1532
01:18:54,840 --> 01:18:57,320
Speaker 3: It's like, yeah, I.

1533
01:18:57,320 --> 01:18:59,599
Speaker 4: Mean you go back and listen to what these guys

1534
01:18:59,640 --> 01:19:02,600
Speaker 4: are put up with to try to get you know,

1535
01:19:03,520 --> 01:19:05,120
Speaker 4: a little bit of pasta in a box.

1536
01:19:05,680 --> 01:19:08,760
Speaker 2: The video of the American mercenaries who were there, who

1537
01:19:08,800 --> 01:19:12,680
Speaker 2: were like, oh, here they come, and it's just it's

1538
01:19:12,720 --> 01:19:15,040
Speaker 2: so disturbing. I was saying to this to you before

1539
01:19:15,080 --> 01:19:19,280
Speaker 2: the show, like, there is no way that this policy unfolds,

1540
01:19:19,360 --> 01:19:24,320
Speaker 2: of complete genocide and humiliation and dehumanization can unfold without

1541
01:19:25,160 --> 01:19:27,880
Speaker 2: all of the players involved just fundamentally not really believing

1542
01:19:27,960 --> 01:19:29,880
Speaker 2: Palestin it's your human beings, which is why they get

1543
01:19:29,880 --> 01:19:32,640
Speaker 2: so mad at Miss Rachel, and then for the for humanizing.

1544
01:19:32,280 --> 01:19:34,240
Speaker 4: Them, and then for the people who win the squid

1545
01:19:34,320 --> 01:19:37,320
Speaker 4: game and get one box, they smile, They take a

1546
01:19:37,360 --> 01:19:40,439
Speaker 4: picture of them and post it on Twitter, and all

1547
01:19:40,479 --> 01:19:43,280
Speaker 4: these pro Israel accounts share it, be like, look look

1548
01:19:43,280 --> 01:19:46,080
Speaker 4: at what other adversary is feeding their.

1549
01:19:46,040 --> 01:19:49,120
Speaker 2: End And Tammi Bruce goes up and brags the familiar meals.

1550
01:19:49,400 --> 01:19:50,439
Speaker 2: How can you complain about this?

1551
01:19:50,680 --> 01:19:52,479
Speaker 4: Yeah, you complain we're not giving them food. Now you

1552
01:19:52,520 --> 01:19:54,720
Speaker 4: complain that we're giving them food. We can't do anything right,