Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
A lot of them, fosdoti and any the divisional wats.
This is the show, all right, everybody, welcome to you
one book show on this Monday, October twentieth. As you
(00:26):
can see, I'm back home for a little while, So today, Tomorrow, Wednesday,
we'll do it show on Wednesday, and then I'm gone
for over two weeks. I will be doing shows while
I'm on the road when I can, so very and
certain schedule. I know, so you hate that. I you know,
(00:47):
as long as I have to travel for what I
do and keep traveling, uh, to make a living, then
that's just what I have to do. All right, guys,
we are going to oh, by the way, uh, I'm
going to be in. I'm going to give you the
cities I'm going to be in speaking so that if
you're interested in coming to some of my talks. Some
(01:08):
of them are private, but some of them most of
them a public, then you can check out on my website.
You on bookshow dot com. You on bookshow dot com.
If you scroll down the page, you'll see my host
schedule and and there'll be links to places where you
can do so. I'm going to be speaking in. I
won't be speaking, public speaking. I'm just doing public tel
(01:28):
Aviv on a week from today, exactly a week from
today in the twenty seventh and tel Aviv information. Hopefully
today i'll have information i can post. Then crack out
in Poland, then Prague in the check for Republic being
(01:50):
US slow but it's a private event. Then Vienna it's
a public event again. Information is all on my website.
Portugal Porto and Portugal big debate or discussion or panel
or whatever you want to call it. And then Lisbon
for a couple of events. So Lisbon, all of that
(02:10):
available online. And then I'm going to be a week
after that, I'm going to be in San Francisco for
debate on Christianity versus the West. Should be fascinating, So
that'll be in San Francisco. Information on that is not
yet up on my website but will be coming soon.
(02:30):
And finally Colorado Springs, Colorado Springs on the thirteenth of November,
I'm debating a socialist from Jacobian magazine in Colorado Springs.
So those are the events, you know, keep track. If
the information is not yet on my website, it will
(02:51):
be soon. And yeah, I hope to see many of
you at these events, please come, please show show up.
Let me know you you you you follow the show. Uh,
shake my hand, say hi, it'll it'll be fun. That'll
be great. Thank you. All right, let's jump in Gaza.
That didn't take long. It didn't take long in the
(03:14):
sense that you know, we now have a uh. The
ceasefire was broken over the weekend by hamas Uh. They
attacked a group of soldiers in Rafa, and now Rufa
is within the area that is under Israeli control. It's
not the area that we're from, which Israel Withdrew Ramas
(03:39):
of course, says, oh, that's a rogue unit. They didn't
get the memo that there was a cease fire. Israel
didn't take it that way. Israel viewed as a as
a break of ceasefire. Two soldiers were killed, tragic and uh,
you know, a couple were injured. Israel then started bombing
(04:00):
h bombing campaign within within the areas controlled by by
the hamas Uh and elsewhere, bombing a lot of the tunnels.
We'll get to that later. Bombing a lot of the tunnels.
And the Americans freaked out. So the Trump administration freaked out,
(04:21):
and they were very upset. They immediately called Israelis told
him to stop. Israel try to resist. Ultimately, the story
is that Trump kind of put his foot down and
h and the Israel leads stopped. Oh no, this was
just a misunderstanding. It turns out Hamas is saying and
this is fires back on. Not only that, but the
(04:44):
administration are sent out Wi Coough and what's his name,
the son in law, Josh, Josh whatever his name is. H.
They send him two is well. They arrive today, uh,
and to try to put pressure on Israel to go
get back into the negotiating mood. And tomorrow tomorrow we're
(05:10):
going to see Jade Vance arrive in Israel for kind
of a formal VP visit again to put pressure on
Israel to sustain the ceasefire. While the negotiation is going on.
In the meantime, the administration is putting almost all of
its eggs, it seems, in the basket of Katau Kato
(05:30):
is Jared Kushner, Thank you, Jared kush kata is the
the hope, the salvation of I guess the gods, the
strip and the Americans are putting a lot of their
faith in in the Kataris and So the negotiation is
(05:51):
going to start up on the fase two of the ceasefire,
which would require the disarmament of Ramas and then of
an international a peace keeping force made up of a
primarily from the Arab nations. But here's the reality. The
reality is that kata Is out there saying to the
(06:13):
world that Hamas is not going to disarm. The Hamas
is going to be have to be a part of
the long term solution, that there is no deradicalization, a disarmament,
or taking Hamas out of the picture. They're going to
be part of whatever peace agreement is going to happen. Now,
(06:34):
these supposed they were red lines for Israel and red
lines for this administration, but the Qataris are just ignoring
that completely and basically dictating kind of their terms. And
it is it's quite shocking the extent to which the
Katari seem to have their clause, their fangs, whatever you
(06:54):
want to call it, into this administration. Certainly, I understand
the financial interest that both Jared Kushna, the Trumps and
Witkoff have in Kataar and katar Is using that. We
also know about the gift the Katari's game to the
President of the United States one hundred million dollar gift.
(07:17):
Something doesn't smell right there about getting a gift like
that from anybody, never mind a found government who is
not a friend of the United States. But put that aside. Anyway,
the Katari's are insisting on a central role here together
with them other Toks and the Egyptians. Toki is not
(07:37):
really interested in actual peace long term. They want to
peer friendly to the United States so they get their
thirty fives. But ultimately Toki and Kata's agenda is very
much aligned around support for the Muslim Brotherhood. The Muslim
Brotherhood is the parrot organization, if you will, of all
(07:58):
the Sunni tourist organizations out there, from a Kaita to Isis,
certainly to Ramas which used to be called the Muslim
Brotherhood of Palestine. Uh. The Qatari is the base of
the Muslim Brotherhood in the world, the global base that
is where its preachers disseminate information that it's where it's
headquarters are. Everything happens happens through Qatar. And yet the
(08:20):
United States treats them as an ally and a friend,
and the Kataris in the Turks have every intention of
keeping Ramas well established in the Gaza strip. Now Trump
keeps saying that's unacceptable and that won't happen, and and
they if they if the Haramas doesn't disarm and so on,
they will be destroyed. But we've heard that kind of
(08:41):
language before and there's no indication and no suggestion that
he can follow up on that. Uh, these relies keep
saying we will not cut a deal. But you know,
the appetite for war right now in Israel is very low.
Hostages are back, Zoe kind of wants to get on
with life. They want to go on with living. The
tired of war. They've been going at war for two
(09:03):
years now, so just have been dying. Uh. You know,
parents have been worried about their kids in Gaza, and
they just want to get on with things. And yet
Ramas is still there. The political leaders are saying we
got to take care of Ramas, and Israeli public is yeah,
we kind of know, but we'd rather just we'd rather
just evade that so we can get on with life.
(09:26):
Which is how is those behaved for decades now, which
why we got October seventh, you know, partially because the
political leaders went along with the Israeli public and evading
the threat. Trump just wants an over price. He just
wants somehow to be resolved. He's not interested in the details.
He suddenly is not interested in justice and and and
(09:49):
has no problem cutting deals with evil uh and and
is aligning himself with the Kataris and is going to
to a large extent, seems to be willing to let
the Katai's managed the process of moving forward. He from
his perspective, the hostage has got released, everything else is
in detail figured out. Who cares? But the reality is
(10:14):
the Katais and the talks are going to be the
ones moving this forward, pushing this and their push is
going to be for keeping Ramas, keeping Amas armed, keeping
Amas involved in the political posts. One way or the other,
these Aelis will resist that. The US will try to
balance the two interests. I don't think the US negotiators
(10:37):
have a strong are going to insist strongly one way
or the other. How to tell where this goes? Now?
What's interesting in all of this is that maybe the
most important potential players in the Middle East are not
really involved here and on purpose, like Saudi Arabia and
the United Arab Emirates, have basically said to themselves, said
(11:00):
to the Americans, you are being fooled by the Qataris.
The Qataris do not have you know, they're not interested
in actually disarming Ramas. We do not want Hamas. We
are not going to put money into rebuilding Gaza. We're
not going to put troops in for a peacekeeping force
(11:22):
as long as Ramasa is in the presence. You know,
the officials, Saudi officials constantly warning the Americans about the
Katari and the Turks and what they want. And for
now they are completely staying out of it. They are
not involved, and of course without them, it's going to
be very difficult to establish establish anything. The Hamas are
(11:47):
confident enough right now that they are out there telling
the world we're not going to disarm. So a senior
Ramas official in Kata yesterday before yesterday basically said, Kramas
will not We will maintain control of a Gauza security.
This ceasefire is only temporary, Hudna Judna is a temporary
(12:08):
peace before the next the next war. He says, a
pause to rebuild our strength and re gain some breathing room.
So Trump is basically handed in the Israelis have handed
Ramas a pause to rebuild, to get stronger, and and
and some breathing room. And yesterday when Israel was saying, oh,
(12:29):
they violated the ceasefire, let's go in and crush them,
Trump said, oh, no, no, no, no, no, no, no, can't
do that. You got to give them the breathing room.
You got to let them rebuild. I mean he didn't
say that, but that's the implication. And uh, and and yeah,
I mean basically, basically, the Trump administration is, you know,
(12:51):
allowing Ramas to re establish itself, to kill all their
opponents within the areas that they control. Uh. One of
the things that they're doing right now is they're going
around all the gods of the strip and trying to
find munitions, Israeli munitions that maybe haven't exploded, you know,
(13:12):
to get the gunpowdered out of it in order to
turn them into IEDs. Uh. They are re arming themselves.
They are they're recommitting themselves. I mean, look, Hamas is
a jihadi organization. They believe in fighting to the death.
They believe if they die fighting, they go to heaven
against seventy two virgins. They're completely committed to dying or
(13:32):
fighting the Israelis, and you know, they succumb to pressure
because of the American pressure to release the hostages, but
they have no intention of disarming, no intention of giving up,
no intention of disappearing, of fading into the mist. And
indeed they view this this fire as weakness on the
(13:54):
part of the West. And this example now of they
violated these fire is responded and Trump puts pressure on
Israel to stop. They just that just reaffirms the commitment
to continue their battle. Also, the other thing you have
to remember is they truly believe that they're winning, and
they are right. It's not just that they believe they're
(14:16):
actually correct in this that they're winning the pr game,
that they're winning the huts and minds of the global population,
that Israel is becoming a pariah state in the world,
and that the longer they persist and the longer they
get Israel to bomb, you know, the more the more
(14:41):
Israel will be demonized and that will only strengthen them.
And the fact that Western leaders recognize the Palestinian state
emboldens Hamaster to continue. So you know, within that area
that about controls they have regained, They control over the
civilian of the population there, and they are rearming themselves,
(15:03):
they're preparing for war there, preparing to fight against the Israelis.
They don't have a chance, and they know that, they
know they're going to lose, but they want to lose
in a huge blaze of fire with a lot, a
lot of civilian casualties so that they can establish the genocide,
(15:25):
the fact that Israel is the bad actor. So you know,
that's what we are. You know, if you know the region,
if you know anything about the conflict, you know that
is going to be the outcome. And yet it is
super sad to see the American but not surprising the
(15:48):
Menican administration putting pressure on Israel of all places. And
what they should be doing is kicking out the Katari's,
kicking out the talks, handing organizational responsibilities over to the
Saudi and to the oe who are much more moderate,
who or much more interested in actual peace. Even the Egyptians,
I think, are interested in ultimately the collapse of Hamas.
(16:10):
The worst thing for Egypt is Hamas being more powerful,
but also Egypt doesn't want Israel to kick out Hamas
into Egypt. That would be horrific. The last thing Egypt
wants is more Muslim Brotherhood, more Hammas in its territories.
Egypt has been fighting the Muslim Brotherhood, fighting spinoffs of
(16:33):
the Muslim Brotherhood for decades, and they don't need a
boost to their numbers that could be provided by the
collapse of Hamas and deportation of Ramas members. Out of
the Godly script. They want Hamas defeated or Hamas victorious,
but they don't want a middle ground. And I guess
(16:53):
I think the Egyptians sense a weakness in the Americans
and therefore applaying for Ahmas victory. So one of the
things we saw in the Israeli response to the Hamas
breaking the ceasefire over the weekend is the extensive bombing
(17:17):
that Israel engaged in over Hamas tunnels, Tunnels that Israel
has known have existed for a long time, tunnels out
of which Hamas has attacked Israeli positions and indeed killed
Israeli soldiers. One tunnel in particular there was attacked yesterday
(17:43):
was a tonne of the Hamas terrorists used to launch
an attack that killed ten IDF soldiers earlier in the war.
And the question is if Israel knew those tunnels existed
and they knew Hamas was using them, Why didn't they
bomb them into oblivion? Why didn't they bomb and why
didn't they destroy? I mean, Israel has complete control over there.
(18:05):
They can bomb anything they want, they can destroy anything
they want. And they are still significant number of tunnels
in Gaza. They can be used to attack Israelis, they
can be used to hide Haramas. Why are they Why
are they still in existence? And the answer to that
(18:26):
is that they're in existence because Israel did not bomb them,
because that's where Ramas was hiding hostages. And here's the
question being posed now in Israel. Okay, So in this
particular tunnel from which Ramas came out and killed ten
(18:46):
Israeli soldiers, there were probably two Israeli hostages. Basically, what
Israel chose to do is to train the two hostages
lives for the ten soldiers. And is that right? I
(19:08):
think over the next few months, Israel's really going to
grapple with this. You know, hundreds of soldiers died during
the operation in Gaza. How many of their lives would
have been saved if Israel has disregarded the existence of
hostages and just crushed Hamas wherever they were destroyed, as
(19:31):
much of the a tunnel infrastructures is on you about
without regard to the hostages, which is, by the way,
the strategy I recommended on October eighth. On October eighth,
I said, and have said over and over again since then,
and said this. In Israel, only concern of the military
(19:55):
should have been victory, fast, quick, effective, complete another destruction
of Ramas. And they should have saved the hostages whenever
they could. But in generally they should have not considered
risk to the hostages as barriers to winning the war.
(20:18):
In other words, they should have treated the hostages as
if they were dead, rescued them when possible, and bombed
and destroyed whatever was necessary to protect the soldiers' lives
to destroy Haramas's capabilities. They didn't do that, and they're
gonna have to grapple that. They have to grapple that.
(20:41):
Amit Segal, who is one of the most prominent journalists
in Israel, who is a huge ally of Nittagnelle, he says,
he writes this, this, of course, presents a deeply uncomfortable
reality in choosing to protect Elkanna, Boots and the other hostage.
These are the hostage in that tunnel. Israel knowingly left
(21:05):
a lethal threat untouched, and the cost was ten soldiers' lives.
I won't judge whether that was the right decision or
the least bad one, but it is a crucial arithmetic.
But it is a cool arithmetic that for the first
time Israelis are left to grapple with. Sometimes the moral
(21:30):
imperative to save one life can come at the price
of many others. Now, note that this is not the
first time Israel's grappled with this. This is the situation
every time they released prisoners in order to gain a hostage.
(21:53):
This is the arithmetic that they've used every time throughout
this war when they didn't bomb. And it's an arithmetic
that was obvious, obvious at least to me, and I
think to anybody looking at this conflict objectively the day
after October seventh. So in war, it's not that there
(22:22):
are any good choices. People are going to die one
way or the other. Your people are going to die
one way or the other because you can't run a
riskless war, and you have to choose a criteria about
what you're going to fight. You have to choose a
governing principle a governing criteria. I think that's true in life,
(22:45):
in everything, in running a business, and there has to
be one governing criteria that determines all other decisions. And
I would say that in war, the governing criteria has
to be victory. Victory that is quick and that minimize
(23:07):
casualties on your own side. And yeah, that is that
is where we are right uh. And and and those
(23:33):
are the choices that you're made, and those the choices
they're going to grapple with. And I think that'lln and
of aide and ignore it. And and I give let
me cig Out a lot of credit for writing this
and posting this and engaging in this moral issue, because
(23:57):
I think most people don't want to think about it.
Most people don't want to do the calculus. Most people
don't want to consider these model issues. You know, they
got their hostages back, the soldiers that die died, and
and they don't want to see the relationship between the two.
(24:19):
All right, let us uh, let us move on, Let
us move on. Uh. Yeah, Ukraine. So more information is
coming out about the the meeting between President Trump and
(24:44):
Zelenski on UH on Friday, and more information is coming
out about the US's UH shift shift. Again, it keeps
shifting every two weeks of shift shifting position about the
situation in Ukraine and about UH Putin's terms and conditions
for I guess a cease fire piece, whatever you want
(25:06):
to call it. And you know it's clear that Putin, well,
it seems like Putin basically said in his phone conversation
with Trump on Thursday, you know, I'm willing to give
them a little bit of of some of the other
territories in Gashan and the other province that I can't
(25:27):
whose name I can't pronounce. But what I want in
return is all of Dunbas only given. I want us
to give one hundred percent of don Buss. Here already
controls about seventy five percent of don Buss. He wants
to control one hundred percent of don Bus. Of course,
the part of Dunbas that is still Ukrainian is the
most fortified part in the whole, in the whole, the
(25:49):
whole battlefield. Trump seems to you know, seem to think
this is a pretty good idea and try to convince
UH is the Lynz give this. Lenski was putting on
maps and showing him and Trump was throwing the maps
around and said he's fed up with maps. He doesn't
want to look at maps. He's not interested in all this.
(26:09):
And then Trump went back to his old position, which is,
let's just freeze the boat to where it is. Let's
just freeze it where it is, and we'll call it
a date. And of course that would mean Ukraine would
have to give up all that territory plus Crimea, and
and you know, for what for peace? I guess for
a cease fire, for the Russians to be I mean
the Russians like Kamas. It's not like Russians gonna uh disarm,
(26:33):
It's not like Russian's gonna walk away. It's it's just
Russia wants a pause. Russia wants to rearm, Russia wants
to get new troops. It needs a breather. It's lost
somewhere around one point five million soldiers killed or injured
on the battlefield. So Trump just wants it frozen. And
(26:58):
again he wants basically, he wants he wants to hand
Trump of victory. Willcock Whitcoff, who's also the envoy to Ukraine,
who's somebody I have no respect for. Zero result. The
guys are yeah, complete pragmatic and nothing. I suppose he
(27:21):
told Zelenski that he should just give up the nask
just just forget to give it up. Whitcoff has already
met Putin five times this year. Uh, and you know
he was at the Ovaloffs meeting last week and he
just told him just give it all up. And his
logic was, and the locals there's big questioned anyway, in
(27:44):
other words, just surrender. Whitcoff more so than others, Trump
suddenly just completely giving in to Putin. I think Witcoff
and jd Vance on Putin's side, probably Abouco Rubio is
on is on Zelensky side. And and I think that
(28:05):
is basically the battle that's going on within within the
administration right now. I mean Zelenski's visit on Friday, he
got nothing, No Tomawk missiles, no security guarantees. I mean,
at some point Trump said, may I get both side
security guarantees, I get the Russians any I mean, the
guys are nut nothing other than more pressure to concede,
(28:28):
more pressure to retreat, more pressure to surrender. H And
at this point it looks like again the tilt in
the negotiation is going to go back to appeasement and
to go back to some kind of deal, some kind
of real estate deal, and uh, you know, you buy
(28:52):
piece by giving up land, which has never really worked.
But that is the that is the notion of what's
happened here, just a putt in perspective, what is going
on on the front. Russia has lost at least one
hundred thousand troops since January twenty twenty five, while only
(29:12):
capturing point four percent of Ukraine. Total losses are somewhere
between a million to one point four million, including anywhere
between two hundred thousand and five hundred thousand dead. These
are like World War One numbers, and not only World
(29:34):
War One numbers, but also the gain in land per
body killed is like trench war foin in World War One.
And here's the thing. Russia has a birth rate that
is way below replacement, right, So all these million people
(29:55):
or half a million people dead, half a million men dead,
that is a net lowering of Russia's population, and it's
a permanent net lowering in a country that's already shrinking
population wise. Russia is a fading power. It's trying to
go out with a bang. It's trying to go out
(30:17):
pretending an asserting imperialistic and imperialistic agenda. But it is dying.
Russia is dying, and Russia will die, you know, and
as much as the West appeases them as much as
Putin sorry not accidental, I guess Misspooking, as much as
(30:39):
Trump appeases them and is willing to just you know,
put no pressure on them. They will die. They are
going to be the losers in the long run. But
in the short run, Trump is making this it's painful
for Ukraine as possible. I mean, imagine a Friday, Trump
has said, yeah, you can have the Tomahawks, you can
(31:01):
have these other weapons, you know, go for it, Go
go take back your cherry cherry. I mean, there's a
reason Putin called on Thursday when he thought Trump was
going to prove the tom hawks. Putin is afraid, on
the one hand, on that, and he's not afraid because
he knows he can manipulate Trump however he wants. So. Uh,
(31:27):
you know, Trump is just an emotionalist compromiser who admires Putin.
I mean, Putin might have something on him, we don't know,
but probably not. It's probably just his admiration for Putin
and the fact that he admired, you know, his admiration
(31:50):
for him, and the fact that Putin's strong, Putin's uncompromising,
Putin does not budget an inch. And and Trump is
just easily manipulated. I know, I know it's five D chess,
but no, he's just easily manipulated. And Putin is manipulating him.
He's a he's a weak emotionalist who can be easily
(32:15):
manipulated by the last guy who's who's talked to him, right,
So you know, that's that's where we are. I mean,
Europe is taken another small step. I mean these are
(32:36):
tiny little steps towards disconnecting itself from Russia. So you know,
Europe still buys some natural gas from Russia, particularly Eastern Europe. Anyway,
the European Council is agreed on a draft resolution to
entirely phase out any short term contract for Russian natural
gas by January first, twenty twenty six, so clear why
(32:57):
it's taken it what four years to do that? And
then a full band, a full band throughout all of
the EU starting genuine twenty twenty eight, which will be
six years after the war began. In the United States
still buys uranium for Russia and other stuff from Russia,
(33:19):
so we're putting tariffs and all friends, we're still buying
lots of stuff from Russia and treating them like a friend,
and our friends we treat like enemies. I mean, this
administration has no semblance of any kind of strategic phone policy, nothing.
It's just whim and there's no good guys, bad guys, friends, foes.
(33:43):
It's just whatever Trump decides when he gets up in
the morning. All right, a few quick stories. We have
a few quick ones. Bolivia. Bolivia has a new president,
which is a good thing because the past president over
the last twenty years have been a disaster. They've all
been far leftists. The election over the weekend was between
(34:08):
a kind of centrist, center right and a conservative. The
center right centrist kind of won. His name is Rodrigo Paz.
He's not Milay, and he's not a radical, and he's
not a free market guy. But he's not a socialist.
He's not a crazy leftist like the previous administrations in
(34:33):
Bolivia have been. In Bolivia, which is a country with
vast natural resources that has an amazing potential to you know,
in South America, to become a significant country, explot natural
resources and become relatively wealthy. Is a dirt poor country
(34:55):
as a consequence of socialist mishandling. And it's not like
the socialists have created economic equality. It's not like the
poor and not poor in Bolivia. It's exactly what happens
whenever you have socialism. They're more poor now than ever
before because of the socialists. So socialists only increase the
(35:19):
number of the poor. Anyway, This new president has promised privatization,
has promised a respect for property rights. He is part
of the Christian Democratic Party again, which kind of a
centrist party. You know. He's promising some shrinkage of the
office state, but not much. Mostly it's moderate moved towards
(35:44):
more a market economy, but nothing dramatic, nothing radical. The
Conservative wasn't offering anything really that different. This was not
that the Conservative was going to be some free market
amazing stuff. And the Bolivians Chill was a centrist. They
were both about the same when it comes to economics. So,
(36:07):
you know, a Pause himself is a complete pragmatist. He
believes in really nothing. I mean he he basically is
quoted as saying ideologies don't put food on the table.
He has over the years being a leftist, being a
a a on the right and landed up as a centrist.
(36:28):
His economic plan is what censriusts usually do. Tax incentives
of small businesses and self employed, greater physical autonomy for
regional governance, not a significant stream kidship, government spending, some
limited privatization, but again small businesses, that's always the focus.
God forbid, you have big businesses. You know. Blivi's economy
(36:53):
is not doing well, but hasn't done well again, poverty
is increased in spite of all the natural resources they have.
It wouldn't be surprised if they have vast amounts of
what do you call ret earth. And he promised not
(37:13):
to cut really not to kill welfare and basically focused
on taxing centers. By the way, this reminds me tonight
it's seven pm Eastern. Soon I'll be doing a show.
And really the last principled leader in the West, I think,
(37:37):
at least in the West West, and that was Margaret Thatcher.
So we'll do a whole show an hour and I'll
take your questions on margat Thatcher. It's a show sponsored
by Alexis and you know, the Iron Lady who governed
a great bidden from seventy nine to nineteen ninety and
(38:00):
completely change that country, completely changed it. Although you know,
the last two Conservative governments in this current Labor government
are really trying to reverse much of what she achieved
in the country. So tonight seven PM's consul Coast time,
we will be talking about we will be talking about
the UK. And you know, part of the problems in
(38:23):
the UK today are the fact that come from the
fact that she didn't go far enough and the term
ended prematurely. She needed another ten years to completely reform
the UK economic system, and one of the things she
didn't do much about was things like then the National
(38:44):
Health Service and the welfare state, which she didn't really
shrink and didn't change the basis on which they were established.
She needed more time to be able to achieve that
and if she had, if that had happened, then we
wouldn't be in the mess we're in today. There are
other issues we'll talk we'll talk to right, we'll talk
about tonight about if only the Conservatives that listened to who,
(39:09):
things would be a lot a lot better today. For example,
there would have been no Brexit because there would have
been no need for brexit. Okay, so yeah, things better
in Bolivia. This is good since when in Latin America.
Let me also mention Columbia. UH, just worth mentioning that
(39:29):
the situation today in uh in Colombia is such that
you know, US bombed another fishing another sorry, drug boat
or so called supposed that the drug boat. The present
Columbia came out and said, no, there wasn't a drug boat.
That was a fisherman you killed. You're just killing Colombian
(39:52):
citizens who have nothing to do with the drug trade.
And I really pissed off Trump. So Trump basically is
cutting off all aid. We have a bunch of found
aids still going to Columbia, all aid to Columbia. Now,
the Columbia president is a bad guy. He's a leftist.
Good riddance. Of course, standing up to Trump, Mike made him.
(40:15):
Mike might make him more popular in Columbia. But look,
we've talked about this, the bombing of these boats killing people,
I mean just randomly, the the I mean, even the
commander of the of the Southern Command of the Navy
(40:36):
resigned because he couldn't justify this. You're basically killing people
in the I c's with no good reason, with no
you know, establish evidence. I mean, they captured a boat
with two guys still alive, and they captured it, and
you thought, Okay, they'll bring the two guys back to
(40:57):
the United States and try them for smuggling drugs. No,
they extraded them back to Columbia. Why did Maybe they
didn't want them on trial to find out that they're
not drug smugglers. Who knows. But the point is the
United States is now a rogue nation shooting up boats
(41:18):
in the Caribbean Sea, killing people randomly because they the
one in the drug trade. This is now a capital
offense with no trial. It's insane what's going on. And again,
like a lot of what Trump gets away with, a
lot of what Trump does, nobody's calling him on it.
Nobody seems to care. He just gets away with everything, everything,
(41:42):
and he gets away with so much, or he does
so much that's offensive that people don't even know where
to focus, where to focus. All right, let's see, all right,
let's talk about the I five, which I the fiasco
(42:06):
and I five which I suffered from yesterday because I
was traveling yesterday, you know, from LA to just north
of San Diego, and none of the map, none of
the maps after I showed any problem. So I was thinking, Wow,
I'm gonna get to where I'm supposed to get early
because there's just no traffic. It's smooth. I looked at ways,
(42:28):
Apple Maps, Google all of them. And then suddenly, as
I'm in Orange County, heading south in South Orange County
almost to work Camp Pedalton is, I get this announcement
on the maps off to oh I five has been closed.
And it turns out they shut down the I five.
I had to do a detour through the mountains, which
landed up making a something that would have been a
(42:53):
two and a half hour drive turning into a five
hour drive. So it took me five hours to get
to where I needed to be, and I was going
to the land Peacock's birthday party, so I was two
hours late to the birthday party as a consequence. Anyway,
it turned out that what happened was that there was
(43:14):
this total miscommunication, total lack of communication between the Marines
doing this exercise for Vance and hegseeth on the marine
base using live ammunition and California Highway Police in the
California government. This is what happens when the governor and
(43:38):
the president don't get along and there's no communication between
the federal and the state government. And HP didn't know
if to close highway and not to close highway. They
planned closed hyeway. Then they weren't going to plan a
close highway because the Marines gave them guarantees that there
was no live ammunition flying over the highway. And then
it turned out there was live ammunition going over the highway,
(43:59):
so they closed the highway, and the map softwares didn't
know that this was going to be, this was planned.
The whole thing was just a catastrophe. And then it
turns out that a California I have a police cruiser
on one of the off ramps on the highway actually
got helt by shrapnel one of the howitz things that
exploded in air, not where it was supposed to and
(44:21):
there was shrapnel that hit one of the police cruisers.
So it's good I guess they closed the highway because
they were literally shooting live ammunition over the highway. And
who knows what have happened. I mean, just the incompetence
of the whole thing, the pathetic nature there should have
been a celebration of the Marines two and the fiftieth birthday.
This became a Potterson issue. It should have been a
(44:43):
bipottersan celebration, and you know, they should have been all
the kind of safety requirements and all the kind of
stuff that you need to do, you know, to shoot
live ammunition over a highway because I don't know if
you know Camp Peddleton. It goes on the Pacific eastward
and the highway I five go right close to the
Pacific but goes right through it. And the training is
(45:04):
often on both sides, and often you can see the
training going on. You can see the helicopters, the helicopter
landing pads, you can see where they do amphibious amphibious
coming on to shore. You know, it's a major Marines
base and a major Marine training but there's a highway
that goes right through it. And it's just this animosity
(45:26):
that exists that you can't even get this right. I
mean literally, these were live audience, live shelves over the highway,
and they did the night before and then they did
it the day off without proper coordination with the local authorities.
(45:49):
So yeah, that's that's where we are all right, we're
going to do this quickly because you know it's already
a long show. Wow, SI, we're going to do this quickly.
(46:10):
But this is a story that is going to be relevant,
I think for a while now, and I'm going to
be watching and talking to you about. But the reality
is that over the last few weeks we've seen some
real financial stress or with lending with different lending institutions,
(46:31):
a little reminiscent I don't want anybody to panic, but
a little reminiscent of the kind of financial stress you
saw a year before the Great Financial Crisis in two
thousand and eight. I mean different in a sense of
different industries and places. We saw a few weeks ago,
the bankruptcy of lenders into the auto space, into the
auto market, and the accusations of fraud, which often you
(46:57):
see when there's a stress in the market, where people
are hiding their bad loans, hiding their failures. And we
don't have all the information yet exactly what happened here,
But what you see then is people try to try
to again hide distress, hide the problems, and they commit
fraud in the process. And it looks like that's what
(47:19):
happened with this lender in the auto space. A lot
of companies that had invested into that auto space are
taking significant losses and they are on distress now because
they're taking losses because they were providing capital to these
auto lenders into the to this industries, you know, and
(47:44):
these were auto loans. There's a company that was giving
out loader loans but days raised capital for other financial institutions.
There was a little bit of a of a chain
reaction here. Nothing yet to cause real panic, but it's there.
It exists. And then last week two banks, Zion and
Western Alliance, both reported that they it turned out that
(48:10):
some loans that they had made uh and they had
thought that when they made the loans, they were in uh,
you know, first position to they were the first claimant
they were going to get they were going to get
the assets if they if the company, if their entities
fault for bankruptcy, they would get the assets first. It
(48:32):
turned out the fraught again was committed and that they
are not the first claimants and that they are probably
going to take losses because they are being bumped down
in the claimant's list because the loans were misrepresented. There
was fought now, how a bank could make a mistake
like that, How somebody could defraught a bank which is
specialized in exactly this is a little bewildering, and it
(48:56):
against suggests fought in the market where banks were making
loans without doing all the due diligence, just like before
the financial crisis, and just wanting to deploy funds, just
wanting to deploy money, which is scary anyway. As a consequence,
when this was announced, regional bank stocks plummeted. They went
(49:16):
down six percent in one day, and they've covered much
of that since, but they did go down a lot
that day. Why And so you know, there's the cock
coach theory in finance. I don't know if you know
the cockroachs theory. The cock coach there is based on
the idea, when you see a cockroach anyway, right, it's
(49:36):
probably like five thousand of them somewhere close by, right,
You never see the cock coaches don't travel alone, they're
not present alone. So if you see one, there's a
whole bunch of them some way close by. Not a
pleasant thought, by the way, by a reality. Well, the
(49:58):
same idea in finances when you start seeing financial fraud,
when you start seeing financial problems like what we're seeing
now in a few spotty places. It's probably not isolated instances.
It could very well be an indication of real challenges
(50:22):
within the financial system. So the few loans that have
gone bad, what else is going on? So Wall Street's
the economist as a story, hy Wall Street is fearful
of more lending blow ups in both banks and private
market giants on the cuck coroach watch that's how that's
how they call it, right and Jamie Diamond, Jamie Diamond
(50:48):
on October fourteenth, just last week, said I probably shouldn't
say this, but when you see one cuck coach, they're
probably more again worried about the blow up of Tricolor,
the Auto land First Brands, which was also blew up
and a lot of people lost a lot of money,
which was a car parts maker. And of course the
(51:10):
problems that we're seeing with Western Alliance and Zions Bank,
and you know, we will see, we will see what
happens next. Now again Western Alliance Design is saying fraud.
Canta Group, which was the borrowing entity or the network
of borrowers, saying no, no, there was no faud here.
So everybody's going to shift the blame and we won't
(51:32):
know exactly what happened until more data comes out or
it goes to courts. But you gotta worry, particularly given
how expensive stock market is. The stock market is at
all time highs or close to all time highs. The
S and P five hunderds up fourteen percent this year.
It's not clear why what justifies that interest rates out
(51:57):
there like interstrates where banks lending to each other up,
which suggested banks were worried about worried about banks other banks.
So everybody's kind of on hold. Now. Last time, we
had a mini banking crisis with twenty twenty three when
(52:18):
Silicon Valley Bank went under and then Signature and for
US Republic were closed by the regulators. The FED had
an extraordinary response for bailing everybody up basically which allowed
banks to kind of not to enter into a financial crisis,
allowed them kind of to survive. But that just means
(52:42):
there's still a lot of there's still a lot of
bad stuff in the system. There was not cleared out
during twenty twenty three, So for example, at the time,
there were a huge amount of law is the banks
are taken on long term bonds about six hundred and
(53:04):
ninety billion. Now, the banks didn't suffer the consequence of
that because the FED basically built them all out. But today,
while it's not six onundred ninety billion, banks still have
losses on the books from their bond portfolio of about
four hundred billion. This is governed bonds. When interstates go up,
the value of those bonds go down. This goes back
to the zero percent of interstate environment during COVID and
(53:30):
banks out, you know, bought long term bonds with very
low interest rates. Interestrates goes up, the value of those
bonds went down. They took massive losses. There's basically all
banks and they're still holding one hundred billion dollars of
losses on those portfolios. So there's a lot there's not
a lot of slack in the system. Now. It's true
(53:51):
the FED is shown a willingness and an ability to
bail everybody out, and and and that'll happen in the
next crisis without any question. But when wonder is when
you bail everybody out, that creates a massive mall hazard problem,
which creates bad lending practices, which creates all kinds of
(54:11):
speculation and credit that shouldn't be given and stuff like that,
and all of that is probably in the system. And
given that all that is in the system, at some
point you have to pay the piper. At some point,
all of that is going to come crashing down. And
so there is a financial crisis someway in our future.
(54:34):
I don't know when. I have no idea. I don't
try prices, but look at gold prices. Gold prices are
basically saying it's any day, it's already happening. We'll have
to wait and see. We'll have to wait and see
what actually materializes, all right. I don't know if you noticed.
(54:56):
I noticed this this morning that AWS Amazon Web Services
went down today. I don't know for how long, but
it was down. There were a bunch of apps that
didn't work. It was a global outage outage. It took
down Snapchat, Fortnite, Facebook, Coinbase, Perplexity, and for example, I
(55:17):
noticed it because I couldn't get onto Wall Street Journal.
Wall Street journal dot com was down. You couldn't play
with your PlayStation, Alexa stopped functioning. Many corporate dashboards just flatlined. Basically,
the digital digital world, you know, stopped much of it.
(55:43):
W US is the largest cloud service provider in the world,
or at least in the United States. Uh. And when
it goes down, much of modern life goes down. The
Internet is very concentrated. Our cloud is very concentrated. A
(56:05):
few companies control much of it. You know, Amazon, Microsoft, Google,
they're it. You know, an article might have a piece,
but they're it basically. And Amazon controls a disproportioned part
of it. And it makes a system very vulnerable to problems.
(56:27):
I don't know what happened today. WS will probably find
out soon or in a day's weeks, months to come,
but it is a big deal. It is a big deal,
and it shows how dependent all of us are on
the cloud. And by the way, even crypto washod by this.
(56:50):
It's not like crypto is actually decentralized. It's it's actually
not it's actually not. Okay, let's see a few short ones.
The Louver, the most important museum in the world, probably
art museum in the world, the most amazing art museum
(57:14):
in the world, suddenly uh and uh in a in
a real cultural institution in France, was broken into and
Jules from Josephine, the wife of Napoleon, was stolen. The
heist it was pretty amazing. It's it's like out of
(57:37):
a out of a out of a movie. On Sunday morning,
a team of four burglars managed to park a truck
with the furniture lift right at the foot of the
Louver palace. And I guess the police and everybody else
just thought this was part of ongoing maintenance and ongoing
ongoing stuff. Anyway, they parked a foot of the Loof palace,
(58:02):
no security personnel, no, no police, nothing. They went up
the elevator, this furniture elevator, to a level above they
broke the window. They broke the window into the room
where the jewels were housed. I guess they used a
angle grinder to cut the window, and then they used
(58:25):
the angle grinder to cut the case in which the
jewels were present. And then they took the jewels, went
out the window, went down the lift and drove away.
In other words, this was just out of the movies.
It took seven minutes, seven minutes for the whole thing
(58:45):
to happen. It is a massive embarrassment to the Louver,
to the French government and a lot of people saying
how can this happen? I mean, there might have been alarm,
but they did it so fast it didn't matter. It
turns out that for budget reasons, budget constrained reasons, they're
(59:08):
not that many security guards at the Louver and not
that many surveillance cameras, and of course the thieves had
checked this out and discovered where the surveillance cameras were
and where I guess the security guards were, and went
to a point where there was a weakness, no cameras,
no guards, and they could get in and out very
very quickly. The Louver is seven hundred thousand square feet
(59:32):
of exhibitions, from painting, sculptures, statues of a gift and
Pharaohs to you know, jewelry from Napoleon era. And while authorities,
I guess security authorities had been telling the police that
(59:55):
this was a vulnerability for a long time, nobody did
anything about it. And indeed the Lover's been cutting staff
cutting staff over the last few years, you know, partially
because the French government is pretty much bankrupt. The bugglars
did this at nine thirty am, right after the museum
(01:00:15):
opens its doors, which means the security guards were you know,
basically trying to evacuate the large crowds when the alarm
went off, versus and protecting the works, versus going to
where the jewels were where the alarm was ringing. So
(01:00:36):
they caught them at exactly the right moment where there's
a big inflow of people and then the alarms go
off and you have to evacuate those people, and I
guess the everything basically failed, you know, the Cultural Minister said.
Five security guards immediately responded to the break in, but
(01:00:57):
it was too late, too late, and again there was
a huge focus on protecting protecting the visitors. So yeah,
not enough staff. They actually cut the number of visitors
to the loose significantly because there's not enough staff. And
(01:01:20):
you know, we've got we've got a significant you know,
they've got infrastructure problems. It turns out that the facility's
infrastructure is not handling the number of people and they
don't have enough people to watch over all the people coming.
And anyway, McConn has a plan, but the plan is
(01:01:48):
not going to be fully in place until twenty thirty one.
In the meantime, jewels are being taken. Supposedly, one of
the first phone calls the financial authorities made was to
a security firm run by a former Israeli sheen Bet
head of the sheen Bet that's internal security in Israel,
who specializes in finding these kind of things. There's a
(01:02:10):
manhunt on right now, and who knows, it'll be interesting
to see if they ever find these rules. A couple
of good news stories. So it turns out I don't know,
I have dry age macular degeneration and one of the
dry age yeah, dry age related macular degeneration. So this
(01:02:32):
is a condition of the eye. As long as this
stays dry, it doesn't have any impact, but it could
easily turn what's called wet and there's a consequence of that.
I could lose my eyesight, and you know a lot
of people, there's a significant number of people who do
lose their eyesight as a consequence of this. Anyway, scientists
(01:02:52):
have invented an implant into the eye that helps people
who've lost their eyesight are's a consequence of wet eye
macular degeneration regain their eyesight. The device helped eighty one
of travel participants suffering from advanced age related macular generation
(01:03:12):
to achieve clinically meaningful improvements in the vision. Uh. The technology,
which you know is targets, is a certain part of
the eye. You know, it's part of just the the
the ability now to put kind of prosthetic implants into
(01:03:35):
different parts of the brain, into the eye, into different
organs in order to in order to make us bionic
and make us better. In this guy in this case,
this this device, you know, basically compensates for the fact
(01:03:57):
that the retina loses disability to dict light and transferred
to the signals from the brain. And this chip does
that and again positive results. This is all at the
Department Uptomology department at the University of Pittsburgh School of Madison.
(01:04:21):
More than eighty percent of patients were able to read
letters and words, and some of them are reading pages
in a book. And again this is just the beginning.
You can just imagine that this will give people twenty
twenty or better vision sometime in the future. So that's
great news. And finally, you know, I'm a huge fan
of Weimo. I love weymo's. I've driven in Weimo in
(01:04:44):
San Francisco, I've driven in Weimo in Phoenix. I noticed
when I was in Los Angeles that they are way
more caused in Los Angeles. I didn't realize that, but
there were quite a few of them now. They still
don't drive in the Highway, so there's a limited region
in which you can order weymo and to get from
one place to another. But when they work, they work
really really well. They tend to be cheaper than Uber
(01:05:06):
and and I think they drive safer than any Uba driver.
And yeah, I'm a huge fan and I've ridden in
them a number of times and I really like the experience. Anyway,
it looks like way Moore is not going to expand
to London, which is I believe a big deal. London
is a very difficult market, partially because you have a
(01:05:29):
very powerful taxi union. You know those black taxis, black cabs,
and I love black cabs in London. But they they
really fought Uber for a very long time. They ultimately lost,
but they fought it. They did their best. By the way,
taxi unions and the rest of Europe have done very
very well and kept Uber out. So it does look like, right,
(01:05:55):
it does look like that Uber will make it sorry
way more make it into London. They've got permission to
start in twenty twenty six. That'd be great competition out
to Uber and Lyft. They might team up with Uber.
I've seen in some cities where Uber and Wabo, you know,
team up or lift and weimo team up. So we'll
(01:06:17):
see how what the business model looks like in London.
But I'm excited and I think this is a huge
contributor to improve standard of living, quality of life. It
reduces traffic and it ultimately dramatically reduces accidents and fatalities
and all of that, and so I'm excited by that.
(01:06:37):
I think the rest of Europe will be a lot
more difficult. I mean, it's still true that you don't
get Uber in Italy, you don't get Uber in Spain,
there's ubin in Portugal. You don't get Uber on and
off in Copenhagen. God, I don't even know in France.
With my guess, is no another way in which European
standard of livings are below the standard of living Americans.
(01:07:01):
They don't have Uber, who was like life altering. It
is such a great technology. It makes it's so easy.
You know you can commit to going anywhere and you
know you can come back. You don't have to call
up a taxi and wait around for a taxi. Everything
is at your fingertips. It's an amazing tech and improves
life significantly significantly. So yeah, a significant benefit to US
(01:07:34):
markets that the that the Europeans do not have. All right,
I had a few other short ones, but you know,
we'll skip them and for now, given that we've already
gone an hour and we've got a bunch of questions.
Amen just came in with a one hundred dollars stick
(01:07:54):
I thank you. Aman, really really appreciate it. Good to
see you here, and I really appreciate the support. Stephen,
Thank you, Ryan, thank you. These all stickers, uh them them,
Tom William, thank you, friend Oppa, thank you, Jonathan, thank you.
It was good to see you Jonathan over the weekend.
Uh and uh yeah, thanks guys, Thanks for thanks everybody
(01:08:22):
for m right, Thanks everybody for the support for supporting
your one book show. You guys make it possible for
me to do this show without your support. Couldn't do
the show my time. You you were buying it in
a sense, you're making this show possible. Thank you all
(01:08:46):
the super chatters. We'll get your questions in a minute.
And thank you to all the people who support the
show on a monthly basis. Don't forget Patreon dot com
or or PayPal dot com are ways in which you
can support the show on a regular on a regular basis, Uh,
let's see. Yeah, we have three sponsors for the show,
(01:09:07):
the Iman Institute. Once it remind you all that they
The deadline for the Atlas Essay Contest at the Shrug
Essay Contest twenty five thousand dollars first prize is coming
up at the end of this month, So submit your essays.
If you're going to gonna write an essay, do it now.
If you want more information about submitting an essay, question
(01:09:27):
what the question is prizes? All of that, you can
go to inran dot oak slash dot here, inran dot
oakslast dot here and check it out. If you're a student,
any kind of student, you should definitely be participating. I mean,
what have you got to lose? Twenty five thousand dollars
on the table. Alex Epstein is the number one world
(01:09:49):
expert on things that are so relevant to all of
our lives, climate change and finementalism and you know, energy, energy, electricity,
electric cause all that stuff. Check out Alex's work. You
will thank me. It is the best work in these
topics and it enhances well enhance your life. You'll get
(01:10:10):
You just get a much deeper, much better understanding of
all these issues. Alex Epstein dot substack dot com, alex
Epstein dot substack dot com. And finally, hand a Shot,
Wealth dot com, slash y bs, hand a Shot with
two t's offering products that can reduce your capital gains
taxes significantly your capital gains liabilities. So if you have
(01:10:32):
a large gain in a stock portfolio, or if you've
got a business you're about to sell, check them out.
You can check out the interview I did with Robert
handa Shot. It's on my channel on YouTube on the
playlists and check it out. And if it's interesting, then
go to the website, sign up and have a conversation
(01:10:53):
with them. No commitment, no hot sell, just just try
to figure out if it makes sense for you or not.
Hand a Shot, Wealth dot com, slash ybs. All right,
and finally, well not finally, but again, don't forget. If
you want to support the show, one of the best
ways to do it Patreon dot com monthly support, regular, predictable,
(01:11:15):
great way to make sure that the show stays on
there for the long run. All right, let's see, let's
start without fifty dollars questions. We've got two of those.
Thank you guys. Really cool. All right, Mike, I've registered
(01:11:38):
for your debating Colorado Springs. I can't wait. I remember
you saying that you prefers to asking you a question
rather than the challenge the opponent. Any questions you can
think of would help you talk about what you want. God.
That is difficult to do right now because because I
(01:11:59):
don't know exactly what's going to happen during the debate,
what I'm going to say, what I'm going to respond to,
what exactly he's going to say. Though, I've done debates
with this guy, so I should know. I can't remember.
So I'm gonna have to watch some of my old
debates with him. And he just did a debate with
Coleman Hughes, so you know, he just did a debate
with Coleman Hughes. So I'm going to watch that kind
of brush up before I do the debate with him.
(01:12:20):
I think the best thing is for you to be there,
and you you kind of known my position on capitalism,
and if you don't think that enough about the ethics
has come out right, the morality of capitalism, this is
the morality voltures of socialism, then ask a question about that,
or or if you don't, if you think the history
hasn't been covered enough, then then bring up a question
about the history. So I'm going to leave it up
(01:12:42):
to you. Just think about the things that you knowing
my position on capitalism, your position on capitalism, what what
could flesh out the argument? What would what would make
the augment even more convincing? What topic haven't I really
duped deep enough? Giving us a debate, You're not going
(01:13:04):
to cover everything that you would like to see more of,
and ask a question about that. That's the best advice
I have. Thank you, Mike, and I'm looking forward to
seeing you at the debate November thirteenth, Colorado Springs. You
guys should all show up and ask me questions, not
the other guy, because when you ask the other guy questions,
you give him more opportunity to talk. He has answers,
(01:13:25):
he said all the questions. It's not like gonna catch him.
They will evade, they'll do what they need to do.
They're good bushca who's the guy debating. He's good. I've
debated him before. He knows this stuff right. What you
want is to minimize the time he speaks in the
Q and A. So ask me questions, So maximize the
time I speak James twice. In the last century, Germany
(01:13:58):
fought to rule and impose its culture the rest of
the world. It lost both wars, but on a deeper level,
it is achieving its goal. Nonetheless, it is on the
verge of winning the philosophical war against the West. Well, yes,
I mean, here's the thing about the philosophical war. It's
not doing it consciously. It's not like Germany is out there,
(01:14:18):
people in Germany out there who you know, we're gonna
win because everybody's a continent now or everybody. You know,
they're gonna win by but not because they tried. In
a sense, it's by default, because the opposition is not
being strong enough. But not by plan, not by not
on purpose. They're gonna win. They're just and they're not
(01:14:42):
even going to know they won, because they're gonna suffer
the consequences with the rest of the West. But yes,
the ideas of German Romanticism, the ideas of kant Hegel, Chopinawa, Marx, Nietzsche,
ultimately ultimately resulted in what we have today in the
complete mass and the pragmatism of the right, or the
(01:15:05):
pragmatism of the old right, the wokeism and the postmodernism
of the left, and the rebellion against all that which
will be Christianity which remember. Kant wrote that his goal
was to save faith for reason, right, to make room
(01:15:29):
for faith because of the threat faith was under by
the Enlightenment. Well that extent the faith wins, Christianity wins,
or Islam wins. If you believe Islam is going to
take over. He won. Kant won because he undermined our
confidence in reason. He undermined a commitment to reason, and
(01:15:54):
by doing so left space for faith, which has only
grown and grown and grown, and seems to be even
growing more right now as we speak. Thank you, James,
appreciate the support Catherine, in which countries are in RAN's
books forbidden by government to sell this is possible to
(01:16:15):
buy your books, for example, and took a ministan iwan Venezuela.
You know, I don't know. I don't think it's possible
to buy her books in Yuan. I don't know about
to Kaministan and Venezuela. I don't think it's illegal to
buy your books. I don't know that the book still
(01:16:37):
carry them, but I don't think it's illegal in Venezuela
to buy your books. I don't know if it's even
illegal in Uan to own nine RAN's books. I don't
know if they have a prohibition. But they're not sold,
and they're not in FOSSi, and they're not in Arabic,
so most Arab countries, they don't exist in Uee. Suppose
(01:16:58):
you can buy it in English. In China, you can
buy it in Chinese. In Vietnam you can buy iron
Man books in Vietnamese. But I'm sure in a lot
of other smaller countries it hasn't been translated, or it's
not a big enough market. They just don't exist. It's
not so much that they've been governments that a banned
the books, as some countries just don't have a big
(01:17:19):
enough market and enough people interested to have the books
for sale and have them translated. Althoughan's books are translated
to pretty much every major language out there and many
many of the minor ones as well, almost every European language,
many Asian languages, a number of Indian languages, for example,
(01:17:40):
I think four Indian different Indian languages. Liam has to
grow through the objective's movement ever exceeded your expectation or
has it always been disappointing? Well, I mean, I don't
think it's ever been disappointing. You know, I would have
(01:18:01):
liked it to be bigger, but I don't. I don't think.
I don't walk around thinking I'm disappointing the growthrough the
objectives movement? And what does the objective's movement even mean? Right?
So suddenly during the Tea party era it seemed like
a rand was everywhere. But was that the objective's movement growing?
Probably not. It was interested in her ideas in a
(01:18:23):
superficial way, growing that didn't result really in a big
movement growing. So I don't think it's in those terms.
I don't know what that means. The altimate question is
the influence on the culture, And the influence on the
culture is disappointing. And is that disappointing because we don't
have enough objectivists? Is that disappoint because the objectives we
have they're not doing enough or not doing the right things,
(01:18:44):
are not doing you know. All of that is of
a debate, But what's disappointing is the the relatively lack
of impact on the culture, not the size of the
objective's movements, which nobody can measure anyway, which nobody knows.
I mean, who's an objects? Do we want to play
the game? Do you want to list the name of people?
(01:19:04):
And I'll tell you yes, objectives nor objectivists. I mean,
it's hard to do, and it's not it's not what's interesting.
So you know, the crusade to change the world is
a crusade taken up by objectivest intellectuals, and there are
(01:19:27):
quite a few of those. Am I disappointed in the
number of intellectuals? Which is I think what matters? Yeah,
to some extent, I would have liked more. A lot
of people have dropped off over the years, and a
lot of people have become non intellectuals or have intellectuals
but are bad. But I think they're more than ever.
(01:19:52):
I see the trend towards even more growth among of intellectuals,
and that's what's important. What's important is I never in
my life thought that OBJECTIVESM would win in my lifetime.
So that's never been the issue. I've never thought OBJECTIVESM
would win in my lifetime. The question has always been
(01:20:16):
will I see movement towards it? Winning someday. An answer
to that is, yes, I'm seeing the foundations of ever
growing intellectual base and ever growing intellectual community that will
ultimately change the world after my lifetime. But that's always
been the issue. So I know you guys want change
(01:20:37):
right now, but it's never been about change right now.
If you'd ask me thirty years ago, will I see
change in my lifetime? I would have said no, You're
not gonna have capitalism in this lifetime. Hopefully you start
having small movements in that direction, and hopefully you see
progress in that direction. But that's about it, right, shasbat
(01:21:06):
General Melche, this is from Blackada. So the amount of
land taken, the amount of land taken. This is a
trench warfare World War One. So the amount of land
taken is Captain Darling seventeen square feet, Sir Melcher it
so you see Captain Blackada didn't die horribly in Vain
(01:21:28):
after all. So yes, they took seventeen square feet, so
he didn't die in Vain. So that's the Ukraine War
right now, Sydney on the Russian side, Andrew Blackada one
of the best shows ever. You guys should watch it.
How Chasbad gets all these quotes, I have no idea,
(01:21:49):
Andrews says, I know it's a little cliche, but when
people say try to be present in whatever you're doing,
I think it's good advice and key to living and
more joyful life. We should plan for the future, but
we live in the present. Thoughts. Yeah, I mean absolutely,
And really all it means is focus, focus, focus on
(01:22:13):
what you're doing, and sometimes focus on planning for the future,
but on whatever you're doing, whatever you're experiencing now, and
we only experience the present. Focus be in the be
in the moment, Be be there, don't drift, don't be
somewhere else. And there's a time to focus on the future.
When When When that when you have to focus on
(01:22:34):
the future because you're planning. Focus. So really, it's a
it's it's a it's a cliche with a significant moral
meaning behind it. Be in focus in your life, don't drift,
don't cloud over, use your mind to focus on facts, reality,
whatever it is that you're doing. Uh, Andrew says objectivism.
(01:23:03):
Objectivism's sanctioning of the use of force in retaliation to
force is an important departure from Christianity's love the enemy
and turn the cheek. Yes, I mean, but look nobody, actually,
nobody who's ever achieved any success politically has ever practiced that. Right,
So Christianity love your enemy to turn other cheek, unless
(01:23:28):
you know the heretics, unless you can convert them to
unless you're doing God's work, unless you're spreading Christianity. Notice
that nobody, no system of thought, can achieve anything, has
moved anyway by has achieved anything by taking to another
(01:23:54):
cheek seriously, and Christianity hasn't. It gives litles of a
to it, it creates guilt associated with it, but it
doesn't literally do that. I mean, Christianity has slotted gazillions
of people in the name of spreading the religion, in
the name of retribution, in the name of justice, in
(01:24:16):
the name or whatever. Right. So this is the kind
of It's just like you know, altruism, you got to
sacrifice for other people. You just got to live. And
to the extent you take one hundred percent of sacrifice
for other people. Seriously, you die and you're gone. Your
ideology's gone with you. You have to cheat in order
(01:24:39):
to survive. And the cheating is what creates the guilt,
and the guilt is what it allows them to control.
You Glad to see you and Leonard patch things up.
You know, I don't know if we've patched things up.
I don't know exactly what's going on. But I was
invited to the birthday party and I was there and
we had some pleasant conversation. But have we patched things up?
(01:25:03):
I just don't know. I don't know where I stand.
Put it that way, but yes, I was at the
birthday party. I see there's another question about that. Where
is it? What can you tell us about the party
house Leonard? You know, I don't want to talk a
lot about it. I mean, I don't go to these
parties and not to then you know, tell you how
(01:25:25):
I shmoove with Leonard and to get social credit for it,
which a lot of people do. I was there to
see Leonard. That was my main goal. He was, it was.
It's mainly a personal thing. There's no I'm not trying
to get points from anybody. That's why I'm not gonna
(01:25:47):
say we patch it up in Walfriendly and everything's great.
You know, other people are talking about it because other people,
I mean not to offend any but particularly about other
people get I don't know they get added Uh what
do you call it prestige from being at the party.
I don't, I you know, one way or the other.
(01:26:08):
You know, I am who I am. I don't gain
that from from the prestige associated with it. I don't
need to publicly announce it, one way or the other.
But Leonard, Leonard, he you know, he's weak, he's on oxygen.
He you know, he's uh, he's definitely failed. He's ninety
(01:26:31):
two years old. He's still funny. His long term memory
is pretty good. The stories about iron Rand uh he
talked about he did a little thing on on music,
uh on on ragtime, which is his latest thing that
he's into, the latest artistic value that he's pursuing, which
(01:26:52):
is great. What else do I want to say? You know?
He he he's aware enough to want to kind of
poke me and and try to get me to argue
with him about about Trump. I didn't fall for it,
so I uh, I he knows my position on Trump,
(01:27:14):
and and I didn't. I didn't think that that was
the place in which the hash out of differences. But
but yeah, so it was. It was pleasant, it was
a nice event. It was It's sad to see him
so weak. But but yeah, that's where we are. I
(01:27:37):
think you could say he still backs Trump. I mean,
I that's the impression he gave me. But it could
be you know that Trump has gone pro putin again,
so that could sway Lennon in that direction. I think
it's it's correct to say. And I don't know, because
I haven't spoken to Trump about these kind of things
(01:27:57):
in a long time, that Trump is very anti poots
it and and is very upset whenever Trump is pro putin.
So it could be that this weekend, given what's happened,
he might switch back to being against Trump. So I
I don't know. I think it depends on what's actually
going on at the time. Anyway. Uh, I didn't argue
(01:28:21):
with him. I just I just I just said, you know,
basically implied or we disagreed, and and uh walked on
and he and he knows he he knew exactly, you know,
I know Leonard well enough to know exactly what he
was doing. But but yes, so I'm glad I was there.
(01:28:42):
I'm glad I got to see him and one more time.
You know, who knows, anytime could be a last time. Yeah,
And and and I hope that we have some kind
of ongoing communication over the last few years of his life.
But I don't know. I don't know. Yeah, all buddies
(01:29:04):
ribbing each other a little is exactly right. And you know,
I mean, I'll say this, you know, take it for
what it is. But I think he knows that if
we actually got into it, that I'm right or I
would win in an actual debate between the two of us.
So I think he knows that, but it doesn't prevent
(01:29:26):
him from ribbing me and and wanting him to know
he disagrees. So it's it's the way it is right,
all right. But again, he's ninety two, and you have
to take that into account. That is an important context
for anything about this, is he's ninety two. OHI haven't
(01:29:47):
heard you mentioned Hong Kong in a while. Are they
still slowly losing their freedom to the Chinese? Do you
think it's still an exciting place to visit? I mean,
there's no question they're losing their freedom slowly to chines ease.
The legal system now is completely embedded into the Chinese
legal system. But China is careful, right, so it's trying
(01:30:10):
not to overdo it because it still relies on China.
It's Chinese still relized on Hong Kong for as a
commercial center, primarily as a financial center Chinese. The Hong
Kong Stock Exchange is still very very important in the
Chinese and so on. So it has this delicate balance,
(01:30:32):
a very delicate balance that it has to it has
to play off of. So it's not losing. If you
go to Hong Kong, I doubt that you would notice
the loss of freedom unless you knew Hong Kong really well.
So yeah, I think if you went, it would still
be an exciting place. What would what would reduce the
(01:30:55):
excitement is the knowledge, the knowledge that you would have
of what's going on behind the facade that really freedom
is in decline, but it's a magnificent place, magnificent place.
Thank you, oie Remo. Because of you, I am now
addicted to Korean dramas. Now that my supply has run out,
(01:31:17):
you are obliged as my dealer to provide me with
new recommendations. I struggle because I haven't found any that
I'm really that excited about. I started watching a few,
but I haven't finished any of them, so I'm not
quite there yet. You might have to, you might have
(01:31:38):
to suffer from withdraw symptoms for a while until either
you are. You probably know more Korean dramas than I do.
One thing I would recommend is take the favorite one.
My favorite one is Mister Sunshine and watch it again,
and Mister Sunshine in particular, I think you'll enjoy, maybe
even more the second time than the first time. Remo says,
(01:32:02):
I disagree with I ran on a view female president
because I don't think this world has seen a lot
of male politicians who do better job than Margaret Thatcher.
I don't think I ranned said what she said about
a female president from the perspective of she couldn't do
a good job. It wasn't her perspective. Her perspective was psychological.
(01:32:23):
Her perspective was a real woman wouldn't want the job,
and I wouldn't want to vote for somebody who wasn't
real innocence. So it wasn't that the woman couldn't do
the job. Is that no decent woman would want to
do the job? I have no I mean, I don't
(01:32:46):
know what I mean would have done, but yeah, I
have no qualms about voting for a woman president or
woman prime minister. If they're better than the male running
against them, you know, the the choice the choices are
so bad today that the psychological motivations of white people
take the job that they take, even if you agree
(01:33:06):
with Iman about the psychology of it, just not on
the same level as kind of the existential threat that
some of these male candidates pose. But yes, I think
that essay is more psychological essay than is a philosophical
one ice peak. I recently saw a clip from you
(01:33:30):
of you from two thousand and two? Was your way
of speaking different back then? To me? You sounded very
similar to Milton Friedman? Ever heard that comparison? No, I've
never heard that comparison. I think I saw. Yeah, I
don't know. I mean, the question is, is the clip
of me reading something because most of my lecturing in
(01:33:51):
those days I was reading from script or wasn't me
answering a Q and A because the Q and A
part is more like the way I today, I think,
whereas the lecturing part was that I was reading a script,
so it would be different, uh, evil key, something like that.
(01:34:13):
How do you think about the blowback comedians? The blowback
comedians face for the Read Festival Political leaders have given
much worse sanction with little consequence. I'm out for the blowback.
I mean, the fact that somebody else got away with
it doesn't mean you shouldn't have the blowback. And I
(01:34:33):
think particularly for comedians, I mean you're talking about people
who the whole profession relies on the idea of free speech.
The whole point of what they do is make fun
of the authorities of the people in power, if you will,
of bad stuff in society. And for them to go
(01:34:55):
to Riad, a place where atheists are putting jail with
if you criticized the family, you go to jail and
jail and throw away the keys. I think it's disgusting
and I'm sure they weren't free to make any jokes
they wanted. Imagine them being on a stage in Rietda
making a joke about Muhammad about the Quran. I mean,
(01:35:17):
they'd be put in jail. And I would never go
to a place to give a talk where, you know,
certain things that I said would land me up in jail.
Maybe it's going to be difficult to go to Europe.
But I mean Saddie Rave is such a stark example
(01:35:39):
of that, such a stocky example of that. So yeah,
the backlash wasn't strong enough. It should be much stronger,
And yeah, we should have the same backlash on politicians
Abram Compass. A race of the presidency is extremely close.
The candidates are Trump and Mumdani Oh my god, Yuran Brooks.
(01:36:01):
Vote will determine the outcome. Who wins. I guess I
commit suicide. I don't know. I have no idea. It
depends what's going on in the world and who I perceive,
given what's going on in the world, as the greatest
threat under those circumstances. The advantage of Mum Donnie, there's
a big advantage of Mum Donnie, is that this failure
(01:36:23):
will be more obvious, faster, and his failure will be
in the name of socialism and hopefully on a national scale,
because he can really implement socialism on a nascal scale.
It will be such a disaster that people will never
want to socialist again. Whereas Trump's failures, He's also a socialist,
(01:36:49):
basically a different kind of socialists, more fascist socialist but
more fascist, also going to fail, but the failures are
going to be blamed on capitalism, and therefore Trump is
laying the groundwork for Mom Donni. Mamdanni maybe lays the
GROUNDWORLK for Trump. I mean, it's a no win, It's
(01:37:10):
it's what happens there is you move to a different country.
I mean, uh, I just don't know. I just don't
see how any good can come from either one of
those either one of those, So couldn't vote for either one. Yeah,
(01:37:43):
I mean they make capitalism is not blamed if you
vote for mom Donni. But who is going to take
advantage of the of the increased authoritarianism that Mumdanni wouldring
to the world. Well, somebody on the right who's more fascist. Look,
you can't you can't escape with these kind of candidates.
You can't escape the consequences of the dim hypothesis of
the evolution of ideas and the way they they manifest
(01:38:06):
in reality. You can't. You just can't escape it. And
this is the real tragedy of Trump. He is setting
us up for an M two and and And it's
so obvious, and it's so right there in our face.
That's what he's setting us up for. And Mamdani would
probably set us up for the same thing. I mean,
because that is where we're heading. It's just a question
(01:38:28):
of the speed. Who buys us more time? And I
don't know who buys us more time. It's it's hard
to tell. It depends on what's happening in the world
at that particular moment. I think Trump is really really,
really bad. If you haven't figured that out yet, really
really bad, Harpercampbell. Should ICE agents be forced to unmask
(01:38:50):
Should the public have the right to identify public figure officials? Absolutely,
there's no even question. Nobody in government should be masked.
I mean maybe special forces when they go overseas in
the United States. No government officials should or somebody doing
(01:39:10):
I mean, I don't believe in government secrets. I believe
the number of secrets should be minimal those necessary to protect,
you know, very very essential national security issues. But that's it.
Most things should be public. The government is your servant.
Remember this, ICE is your servants. The police are your servants.
(01:39:37):
The military is your servants. You don't have your servants
walking around the house without revealing their identity covered up.
That is bizarre. The Secret Service are your servants. Of
course they should identify themselves well in the Secret Service
(01:39:58):
is when have you ever seen the Secret Service wear masks?
I've never seen it. Never seen a secret service guy
wearing a mask. So no secrets because they work for you.
If your attitude is the government works for me, ice
(01:40:20):
agents work for me. I RS agents work for me.
The new attitude to us, this is very simple and easy.
I want to know who's doing what in my name.
I don't care if they're putting their relations at risks.
(01:40:41):
It doesn't matter if they're putting their life. If that's
the job, The job is to put their life at risk.
That's what the police do, is what the military do. Now,
I don't think they are I think it's all way
exaggerated and but I mean that's the job. And you
(01:41:02):
don't hide from the people who employ you, which is us,
the American people. That doodo bunny. Most people need to
have a god. I have no idea why. Well, but
you don't know that most people need to have a god.
Most people have chosen to have a god. I don't
know where you get that they need to have a god.
(01:41:26):
They've chosen. It doesn't mean they need it. Your job
is to convince them they don't. The atheist realist first
super chat ever, thank you, thank you well. It's a sticker,
but thank you from New Zealand. I really appreciate that.
See did I miss any other stickers? I think they
got them all. Oh, Woland, thank you, Woland. Really appreciate
(01:41:50):
it all right, not you have a job a gohorithm.
Maybe the Enlightenment can die. Everything can die. I don't
think there's such a thing as can't die. It is
true that human knowledge is incredibly diffused, and as such
it's unlikely, whenunlikely, to experience a global Dark Ages. And
(01:42:10):
indeed it turns out that even the Dark Ages that
happened was not global. It was just European Dark Ages.
But civilizations at the level of the time thrived during
the European Dark Ages. They thrived in India, they thrived
in China, they thrived in Central Asia, and for a
(01:42:31):
period starting at about eight hundred AD, they thrived in
the Muslim world, in the entire Muslim world, including in Arabia,
in the Middle East and all the way to Spain.
So we've never had everything collapsed everywhere in an interconnected
(01:42:51):
world the way we have today. Maybe it can't, but yeah,
I'm not pessimistic about the very distant future. I'm optimistic
about that. Thomas thank you really appreciate the support. So
(01:43:12):
you conducted an opera on zero notice. So congratulations, Congratulations Clark.
Assuming trends continue. What's your strategy for living on a
dictatorship when you're in your eighties and nineties. Well, I
mean it's I still think it's going to be a
(01:43:33):
relatively soft dictatorship. I don't think it will be a
sutalitarian dictatorship. And you know, I don't know. I don't
have a long term strategy for that. I will, I
will play it by year because we'll see how the
nature of the dictatorship will als, to see if it's
you know, global, if the places I can go where
(01:43:54):
I don't you know, I can, I can live free
of that. But I'm not making plans for a dictatorship
in my eighties and nineties, you know. And I'm assuming
in my nineties I'm going to be less vocal than
I am today. We'll see. It really depends on how
(01:44:17):
sharp my mind is. If my mind's not that sharp,
then it would be an embarrassment for me to be
overly vocal. So hopefully I'll have enough friends telling me
you're on it's time to retire. So please if there
are people out there who listen to the show who
are in a position to tell me I should retire.
(01:44:37):
Please let me know when you think my mind is
just not there and I should retire. I promised to
take it well. I might not agree with you, but
I promised to take it well. So you know, I
don't know. I don't know. Andrew, what do you think
of this corollary between finance and morality? Mouel investing take
(01:45:00):
actions that cost you now in energy, time, et cetera.
But would you expect are likely to pay more later?
And self esteem? Oh, model investing. Yeah, I mean it's
not a bad analogy. I think it's good generally. I
think that whereas Christianity or conventional morality views morality in
(01:45:28):
terms of sacrifice, I think morality should be viewed in
terms of trade and investment, trade with other people, trade
and trade over time, which is what investment is. So
I would like to replace all of the vocabulary of
sacrifice with the vocabulary of trade and investment in that sense. Absolutely,
(01:45:50):
you might not. I mean, when Howard Rock turns down
the Bank Commission, they're offering him a lot of money,
but he would have to give up his oartistic integrity
in order to get it, and he says, no, what
is he doing there? He's basically giving up in that sense, investing,
(01:46:11):
you know, losing in the presence in order to gain
something much much greater in the future. And in that sense,
it's not a loss, it's a trade. He's trading away
the money that he would get from the bank building
to maintain his integrity so he can gain the self
esteem not just in the future, but really immediately. Supkaski
(01:46:41):
is worried about replacing me. We've got I don't know,
twenty years to worry about that. It's twenty years. We'll
find somebody in twenty years, find somebody in twenty years, Nikos.
Maybe I mean a lot of people who might replace
me over the next twenty years. Plenty of time to
(01:47:02):
think about replacements. And they're gonna be lots of They're
gonna be lots of options. I'm gonna be replaced by
many people, not by one. I'm still expecting that day
where there'll be twenty thirty forty objectives intellectuals doing what
I'm doing on a regular basis. Michael, imagine storming the
(01:47:27):
beaches of Normandy just for your grandkids to vote fascism
back in eighty years. Eighty years later, Well, I mean
we're not quite there yet, we're not fascist yet. And yeah,
I mean eighty years of freedom is not a bad
not bad. It's your lifetime, right, Worry less about your grandkids,
worry more about yourself. And storming the beaches of Normandy
(01:47:50):
with the idea that you're preserving freedom and they did
so eighty years is nothing to sneeze at. It's it's
a lifetime. So yeah, I don't know that anybody stormed
Normody for the sake of people eighty years in the future.
They stole Normody for the sake of the people they
loved right then and there and their children. But there's
(01:48:12):
only so many, so much you can think way out
into the future. Clark, you say you're not going to know,
you say we're not going to Nazi Germany. But racism,
anti Semitism and nationalism are completely mainstream. This combination is
the essence of Nazism. I don't think it's mainstream. I
(01:48:33):
think it's it's a minority of people, actually, a pretty
small minority of people who happen to be very very
active online. But it's not mainstream. Look at how people
most people. Most people responded to the young Republicans with outrage.
Many of them had to resign. That's not mainstream. If
(01:48:55):
there was mainstream, none of them would resign and they
would just say, oh, okay, nothing special about that. The
fact that they were still condemned and that they had
to resign suggest that it's not mainstream. Let's see hup
(01:49:22):
of Campbell. Why do unions exist in manufacturing and non
in Silicon Valley? Well, I mean they're not that many unions.
In manufacturing, unions have been in decline since the nineteen fifties,
and that's there in which Silicon Valley rose. The other
aspect of this is Silicon Valley very much rose on
(01:49:45):
a mentality of individualism, of meriat of achievements and compensition
based on achievement. It very much rose on that kind
of ethic, and that was the ethnic of the unions.
So it was never appealing in Silicon Valley, and in
(01:50:06):
the Silicon Valley rose at the time, unions were declining,
and indeed in new industries industries for example, all over
the South, they're no unions. Unions are phenomena of the
past and exist. You know, in old industries, the one
place where you see unions getting stronger is the government.
(01:50:26):
That's where you're seeing more and more unions and things
like cleaners, you know, manual labor, very simple manual labor.
But unions generally have been in decline for decades. Milko.
Hi you on if you tried the bust on vinegar.
(01:50:46):
Not yet, but we did. We did get it to
the US, we did get it home, so we do
have it. We'll try it. I'll let you know. Thank
you for the supports. Good seeing you again. Good uh
seeing you here again? And yes I still owe you
some day for next year. Well, I'll get back to
you once I know what I'm doing, evil key or whatever.
(01:51:07):
Can you talk about the government back credit rating agencies
affecting the debt issue issues you discussed. Well, I don't
know how they've affected these particular issues because I haven't
really delved deeply into this, But the credit agencies in
the past have done a really, really, really bad job
(01:51:28):
in identifying risks of debt and adjusting their ratings, and
it wouldn't surprise me if they failed this time as well.
There are only three, or used to be only three
credit rating agencies and only three because the government has
only basically signed off on three, and the government also
(01:51:49):
forces suddenly investment vehicles to only invest in raided securities
by these three, So it kind of creates a built
in market for these pathetic, losing rating agencies. But I
don't know. It wouldn't be surprised if they were all
triple A rating because these rating agencies are really really
(01:52:14):
pathetic because they never suffer from the if you will,
creative destruction the forces of markets when they fail, because
they know that nobody can compete them away because the
government has only granted them the ability to rate, and
people rely on these ratings because some investors have to
(01:52:36):
they have no choice. Others are skeptical and often don't
invest in the securities that these rating agencies produce. But sadly,
not enough people understand the extent to which the rating
agencies are oligopoly created by government, inefficient, uncompetitive, and error prone.
(01:52:59):
Andrew effort quaw effort is not painful unless one makes
it so. But do many people make it so? I
don't know. Sometimes effort is painful, So effort quaw effort,
I mean, when you're doing lunges with like heavy weights
in both hands. Sometimes your muscles are really pain It's
(01:53:22):
really painful. So I don't know what kind of effort
you're talking about. Certainly physical effort can be painful, and
it's not a psychological issue. Just this painful because your
muscles are whipping. A lot of people make any kind
of effort painful because we live in a world which
is so in many aspects of life anti effort, and
(01:53:47):
effort is resented, and so people, you know, people fight
against it, fight against the need for it, and you
know that becomes painful psychologically. All right, I'll remind you
two more questions, but i'll remind you tonight seven pm
(01:54:10):
East Coast time, two hours. Basically, I'm doing the show
on Margaret Thatcher one hundredth birthday to Margat Thatcher. Should
be fun sponsored by Alexis. Have you seen the Bible
Settler attacks video today going around Twitter? Any additional information
for you? And this is O Neil No. I wonder
about the videos, that is, are they real? To what
(01:54:33):
extent are they docted? Given the sources, right, I haven't
seen any confirmation of the videos from reliable sources. But
on the other hand. You know the settlers. These are
religious fanatics who are Messianic and you know, faith based,
(01:54:53):
and these are bad people. And if I were running
the Israeli government, I'd put them in jail and they
should go to jail. And it was a different government,
not maybe not this particular goverment, they would go to jail.
So one of the problems with this government is they're
way too tolerant, way too allowing of these religious fanatics
(01:55:14):
who violate individual rights in the West Bank and and
and attack Palestinians. You have to be careful about any
particular claim, but generally it's happening and the government is
not doing enough to stop it. And that's one of
the many things I do not like about. You know this,
(01:55:38):
this particular government fan opusas I like you interview with
Maxim Bashev. I met him at okonn and thought he
was a good guy. Yeah, I think he's a good guy.
I hope everyone finds and watches it. Yeah, I'd be
putting it up. It should make it up to my
channel soon, So to be coming up on my channel soon,
maybe at the end of this week, so I'll be
(01:56:00):
able to see it. If you can't find it on
Maksim's channel. All right, guys, I will see you all
in two hours to talk about Margaret Thatcher. Don't miss that.
It'd be positive and fun and and and and uh
and good, so join us there. Thank you to all
the super chatters, thank you to all the supporters. And
if you don't catch me later today, there is a
(01:56:21):
show tomorrow at the same time. I think it's at
three o'clock tomorrow. So bye everybody, see you soon.