Gen Z Doom, Gaza Lies & Ukraine “Peace” Myths | Yaron Brook Show - Yaron Brook Show

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Speaker 1 (00:04):
Fundamental principles of freedom, rational self interest, and individual ones.
This is the Uran Brook Show. Oh right, everybody, welcome
to your one book show on this Thursday, August twenty one.

(00:27):
I hope everybody's having a fantastic week. And yes, we
are live from from Lisbon, and so thanks for joining me.
All right, Uh, maybe let's just jump in. Let's start
off with gen Z. I guess I got real problems

(00:47):
with gen Z or they seem to have real problems
with me. I've been the comment sections in both uh
this the what I my discussion about mom Donnie's complaints
about capitalism and about housing and everything else, and the
comment section about yesterday show where we had a right

(01:08):
wing mega and that case also complain about life today.
And I said some things about gen Z that will
unacceptable to the gen zs. I said that they can
be successful, that they are not poor, that they have
their unemployment rate. Well I didn't say this, but it's true.

(01:31):
The unemployment rate is lower at this age than any
other generation. I said all these positive things about gen
Z's potential in life, and people flipped out. I mean,
this is they all want to tell me it's not true.
They are poor, they can't find jobs, they are no jobs,

(01:51):
They're going to lose a lot of jobs. They are
losing jobs, they can buy a home. You know, life
just sucks for gen Z. And it's you know, and
and there's some truth to this. I think that's absolutely right.
I think there's there's truth to other people complaining about
gen Z because they are maybe maybe the most pessimistic

(02:14):
of all generations. I don't know, but it seems like
that way they've been they've grown up in a world,
growing up in a world of being told from when
they were very little, that the world is going to end,
that we're destroying the planet, that things are horrible, that

(02:38):
you know, whether it's on the left they get climate change,
I from the right, they get connage. In the streets
of America, they be told, you know, for the last
ten years, that they won't find a job, that there
are no jobs, that AI is going to take all
their jobs, that generally everything everything sucks, and so everything

(03:00):
in the Western civilization sucks. And it might be true.
I haven't seen any stats on this, that they are
the most pessimistic of all generations, the most depressed of
all generations. And maybe they're depressed, not because they've got iPhones,
as some people claim. Maybe they're depressed because of what
they teachers teach them. Maybe they're depressed because they've been
told that they're entering a world that is antagonistic to

(03:25):
their interests and that they have no chance of success.
Maybe they're depressed because they've been told the reason is
impotent and that they should just go by their emotions,
and when they try that, they fail. But here's some
reality facts numbers I don't know numbers. In a paper
published last year that looked at American's household income by

(03:51):
generation after you account for taxes, gumnment transfers, and inflation,
MILLENNIUMS was somewhat better off than gen X. Those are
bonn for between sixty five and eighty and nineteen eighty.
So I'm not gen X. Some of you might be

(04:12):
gen X. Most of you are. Think of millenniums. Anyway,
Millennials were better off of Gen X when they were
at the same age, So millenniums better off the gen X.
It turns out the gen X would be better off
than boomers my generation at the same age, And it
turns out the boomers were quite a bit better off

(04:33):
than the cytyling generations. Sign generation is considered nineteen twenty
eight to nineteen forty five. So if you look at
at age twenty something, twenty one, twenty two, but really
from age fifteen, millennials better off than gen x's. Gen

(04:56):
X is better off than boomers. Boomers are better off
than millennials. But you know who outshines them all. Who's
better off than all of them? Gen Z in every
age group now they're only there are only a few
age groups. Because gen Z are so young, a gen
Z outperforms the other generations. Typical twenty five year old

(05:20):
gen Z has then, this is as of last year,
has an annual household income of over forty thousand dollars,
more than fifty percent above Baby boom is at the
same age. So you guys are double You're twice as
rich as I was when I was aged twenty. Actually,

(05:41):
you're much more than twenty forty thousand dollars. You know,
if I made ten thousand dollars when I was twenty,
I was I was getting a salary from the military.
I didn't make forty thousand dollars until I was in
my thirties. Anyway, it's not about me. But these these
are averages, these are median, they're not even averages. The

(06:03):
medians are fifty percent below, fifty percent under. And this
is not just true of the United States. This is
pretty this is a pretty global phenomena. Young people are
fairly wealthy in relative to their age, relative to other generations.

(06:23):
This is true of French people aged sixteen to twenty four.
This is true of Cuatians and Slovenians and people all
over all over the world. Now, gen Z's are going
to protest right as they do all the time. Yes,
they have a higher income, but it's a mirage because
we're not taking into account exploding cost of college and housing. Right,

(06:47):
these are things that are much more expensive. And it's true,
global houseprices are near all time highs and graduates have
more debt than they've ever had before. But gen Zs
are doing fine. And if you're not, by the way,
then you need to examine your own situations. And I
know everybody has friends that are not doing okay, well okay,

(07:11):
but the reality is that overall gen Z's are doing
fine because they own so much. They own so much more.
In twenty twenty two, Americans under twenty five spent forty
three percent of their post tax income on housing and education,

(07:32):
including interest on debt from college forty three percent. That's
slightly below the average for under twenty fives. From eighty
nine to twenty nineteen, they spent more than forty three
percent on housing and education. And the reason is not
that housing education were more expensive back then. They weren't.

(07:53):
They were cheaper. The reason is that zoomers just make
more money. Zoomers in the United States, at least, their
home ownership rates are higher than millennials. Now, millennials was
screwed because they came of age during the financial crisis
and they had a hard time finding jobs. And it's

(08:16):
true that American that Gen zs have home ownership rates
lower than previous generations, but higher than millennials. So, you know,
zoomers are doing pretty well. In particularly, they're doing well
if you take into account the Zoomers generally, again on average,

(08:40):
work less, and that they invented the idea of quiet quitting,
that is, doing enough work not to be fired. Somehow,
they still make good money. Baremenim and mondays, do you
know bareminim mondays, have you ever heard that I have,

(09:00):
and you know, so they they think jobs are right.
Millennium US hustled for jobs. Zoomers just expect the job
just to be there. At least again, averages surveys doesn't
reflect on everybody. Other aspects of gen Z that are troubling.

(09:26):
They're less likely to be entrepreneurs. They're less likely to
be innovators, at least so far. Now gen Z is
still coming of age, so we will see. And there
are very few Zoomas, unlike ritualists. Whereas if you think

(09:49):
about you think about ultra rich, ultra young tech founders
like Zuckerberg and Patrick Collison at Stripe and the guy
who created snap Chad and others, you don't you're not
seeing many Zuomas like that. You know, they're just not there.
So just some stats. So again, so far Generation Z

(10:18):
is doing really well. Now, every session would hurt them.
It always hurts the young more than anybody else, you know.
You know, the young usually do worse than anybody else
doing your session. They're likely to lose their jobs and
so on. A session would hit them hard and that
you know, they might fall back, but they do well,
they'll suspend a lot. They are consumers. Gen Z A

(10:41):
definitely consumers. So yeah, I mean, the reality is that,
I don't know if you saw the peace in the
Wall Street Journal on work life Balance by a gen
Z saying to hell with work life jet balance. Just
focus on work, make a lot of money, you know,

(11:05):
sacrifice whatever you need to do in order to make
the money so at thirty you can be rich. Now
it's a bad piece because it divorces work from values
and enjoyment and it's just about, you know, getting the money.
And you know he's talking about putting on eighty pounds
because all he does is work, and they all gen

(11:28):
Z is like that that work very hard. So generalizations
are not helpful. The reality is this, there are plenty
of jobs out there. The reality is that the plenty
of good paying jobs out there. The reality is that
there have plenty I mean and a really an unlimited

(11:53):
number of new businesses to be started and created. There's
a huge amount of risks to be taken. There are
immense adventures to go on, places to visit, places to see.
You can be now what you couldn't be in my generation,
you couldn't be in any other generation. You could be

(12:13):
a digital nomad. You can go come and live in
Lisbon and work for a company in the US. There's
so many opportunities that you have. I mean, I know
you think that having an iPhone is a burden. It's
sinking your life, it's destroying your social relationships. This is
a massive asset if you know how to use it,

(12:35):
and this computer and this camera. You couldn't do this.
I mean the number of professions that didn't exist in
the past, the opportunities that you have because of technology
that didn't exist that make your life much easier, better
and provide you opportunities that nobody has ever had in

(12:56):
the history of humanity. Sulk and pretend that the world
is ending. Yes, I know this is what you be taught,
and this is how you be trained. But stop it.
Take personal responsibility over your life. Figure out the path
where you can pursue values. Where you can pursue the

(13:19):
values that are important for you. Go watch Steve Jobs's
a commencement addressed to Stafford. Find the things that you love,
Go do the things that you love. If you can't
do the things you love, then create the things that
you love. Start a new business, meet great people. There

(13:40):
were no limits there's nothing about your generation that is
hampering you. Yes, politics sucks. Yes the economy is not
as good as it could be, but it's not that bad. Yes,
regulations more controls, taxes are mildly higher, not that much, okay.

(14:06):
But to compensate for that, you have a world filled
with technological opportunities. You have a world filled with opportunities.
I mean again, this technology costs almost nothing. I mean
I remember my fondly, my first PC, my se thirty,
that cost three thousand dollars and could barely do anything.

(14:32):
Now I have this amazing laptop that is like a
gazillion times more powerful than that original desktop computer with
a screen that's what five times bigger, and I can
travel with it anywhere in the world and it costs
you know what, half of that desktop computer or less.
I mean, the opportunities that this technology creates for you

(14:56):
to become so much more productive. It's why you richer.
You're making more money than previous generations because you're more productive.
Why are you more productive because you have access to
technology that makes you more productive. It's all the capital
that's been invested in you, in the technology. So I'll

(15:20):
say it again, I keep saying it. I know, and
you guys, get upset, stop whining, get a life, find
your values, find the things that you love, and if
you don't know what you love, go experiment, Go try
different things. Embrace technology, build your life around your career
around technology. That's the future. One way or the other,

(15:43):
it's the future. Learn right now, learn how to use AI.
Immerse yourself in AI. It's clearly what's coming. Whatever your
field is, whatever you're passionate about, AI is going to
play a role in it. So immerse yourself in it.
Develop strategies to enhance your life, to pursue your values,

(16:05):
to gain a job that will make your enthusiastic and
positive about the world. Accept the fact that you will.
To you as a kid, the world is not going
to end. You are not going to die. Your opportunities
are not limited. They're unlimited. And yes, I know, if

(16:27):
you're farigner, it's hard enough to get into the United States,
and that sucks. If you're in America, housing is expensive.
It's expensive. It sucks. So you won't own a house
until you're thirty eight. So what go rent? Rent And
if housing is the most important thing in your life,

(16:49):
then move to Cleveland, or move to Iowa, or move
to somewhere where housing is dirt cheap, but live with
a capital ll. Stop feeling sorry for yourself and go
make a life. You're too young to be sulking. You're
too young to feel sorry for yourself. You're too young

(17:11):
to be complaining. The world is far from perfect, far
from perfect. You would be so much richer in my world.
But the world's not gonna change because you suck. Your
opportunity is not gonna grow because you complain. And socialism

(17:35):
popular among jen Zas these days, or fascism popular among
jen Z's these days, is not gonna solve your problem.
It's gonna multiply your problems. It's gonna lead to the
world where which will really suck, objectively suck, where your
life will be horrible. So if you want the kind

(17:59):
of if you pretend that you've got right now, if
you want the kind of miserable life that you pretend
that it is only available to you now, then yeah,
vote for the socialists and vote for the fascist. That'll
get you there. But if you actually want to be
successful in life, if you actually have to, if you
actually want values in life, then go go find them,
Go make them, Go create them, Go pursue them. Go

(18:21):
challenge the status quo. Go change the world. Go with
ambition and positivity. Become an entrepreneur, build a new business,
create a new product, innovate. Teach us how it's done.
Teach us boomers, you know nothing, how it's really done.

(18:43):
So enough, guys, I get these long things about how
this and that and this is wrong and that is wrong,
and every single thing there on the list is like, okay,
so reality is what it is. What are you going
to do about it? How are you gonna make it better?
And how you're gonna be low life better? And you

(19:04):
know it's it's like the guys who can't find any women,
and so what they do They give up. They become
in cells or men going their own way, or whatever
the hell they want to call it. They give up.
You didn't get your perfect job the first time, so
give up. Jobs impossible? Your first starter failed. See give up.

(19:27):
That's not America. That's not what the spirit of this
country used to be at least, and it's it shouldn't
be your spirit fail. Try again, learn, try again. They're
good women out there for you to date and marry.
They're good jobs out there for you to find. They're
good businesses for you to start whining ain't gonna get

(19:54):
you there, all right? That is my gen Z rant.
That Christian will turn that into a short video. I
have a feeling you aren't going to gain subscribers or
loose subscribers on this one. Anybody want to take bets?
Do I gain subscribers a loose subscribers from my rant
on gen Z? I don't know. I don't know. Most

(20:15):
of my listeners are millennials, so most of my listeners
are twenty four to forty four year olds. Twenty five
to forty four year olds, all right, completely switching topics.
You know this this initiative piece initiative that Trump peace

(20:37):
in our time, that Trump has got to the forefront.
He has gone and met with Putin, he has met
with a Zelenski and half the leaders of Europe. They
have convened, they have discussed, they've debated, and they're pushing
a peace deal. It's not clear what this peace steal entails.

(21:00):
It's not clear what this security guarantees. The United States
has said that it would it's not going to put
troops on the ground, but it would provide some security
in the air. Nobody knows what exactly that means, and
is it going to commit all administrations to doing that forever.
Poland has said it's not going to put any troops

(21:20):
on the ground, but maybe the Germans and the French
and the British would. It's not clear. It's just so
clear that the Italians are basically said, look, what we
need is a committee, and a committee that decides whether
we should intervene in Ukraine or not. So the solution
the Italians have right, this is a typical European solution

(21:43):
to everything. Let's form a committee and we'll debate in
and discuss it. And when something bad happens, we'll debate
and discuss whether we should intervene. And by the time
they intervene, you know, it's all over. There's no seriousness here.
And the reality is security guarantees for what for peace? Steele?

(22:05):
A peace Steele, then it tells what it tels, giving
Putin everything he wants. Well, I don't think Putin is
ready to accept anything else. Now it's gotten so ridiculous
that you know, initially Trump was gonna meet with Putin
and Zelenski, and now Trump saying, I don't want anything.

(22:26):
I'm not meeting with them. They can meet themselves. The
two of them should meet without me. Putin is suggesting
the meeting happened in Moscow. Zelenki said, no way, am
I going to Moscow? Good for him? And then now
Putin is saying or actually a lover of is is
is uh? You know, foreign secretary is saying, I don't

(22:49):
know if this makes sense to have a meeting, because
after all, we don't even know if Zelensky really is
the legitimate president of Ukraine. You know, you know, we
have to understand, so uh, you know, lover of said Look.
Putin has repeatedly said that he's ready to meet, including

(23:10):
with Zelensky, with the understanding that all issues that require
consideration at the highest level will be wear walked out.
That is, the meeting will be the end process. We've
already agreed on everything, and experts and ministers will prepare
appropriate recommendations. So he doesn't want to meet Ziskin not
to negotiate. He wants to meet Zylinskinn to sign the

(23:30):
final agreement. And then he says this is perfect and
of course, with the understanding this is lover of that
when and if, hopefully when it comes to signing future agreements,
the issue of the legitimacy of the person who signs
these agreements from the Ukrainian side will be resolved. So

(23:52):
is Zolensky ill legitimate? Is he? Is he representing of
the Ukrainian people? I mean, clearly Putin doesn't believe. The
Russians don't believe he is. So yeah, I mean, the
Russians are constantly delaying level of in this same kind

(24:17):
of press comforts or discussion or whatever, kept saying that,
he kept calling Zelensky the so called leader of Ukraine,
and you know there's no sign that there's going to
be a meeting. I mean, look, Russia wants territory. Russia

(24:40):
want's territory. As jd Vance said, I think today Russia
want's territory, wants all those provinces that are saying, but
that's not all it wants. Russia clearly wants the destruction
of Ukraine as an independent country. Russia wants to crush
the Zelenski administration. Russia wants a puppet government in Kiev.

(25:00):
Russia wants control of Ukraine. It's willing to acknowledge Ukraine
if Ukraine is like Belarus. It has a president in
Ukraine that it controls one hundred percent. It has no interest,
zero interest in an independent Ukraine. And it's already said.

(25:21):
Russia has already said, we're not gonna accept security guarantees.
I mean, yeah, in theory, will accept security guarantees. But
you know, maybe the Chinese should secure Ukraine. Maybe Chinese
troops should be the peace keepers. But just to your clear,
Putin is saying any security guarantee is given to Ukraine,

(25:42):
we have veto power over. We get to decide what
they are. You don't get to decide unilaterally what they are.
So what are you guys even talking about. I mean, basically,
Russia has not changed it's demands since March twenty twenty two.

(26:03):
It still holds the same position it did in March
twenty two two. And by the way, in March twenty
twenty two, it held the bigger portion of Ukraine than
it does today, so it's in an even better negotiating
position back then than it is today. I mean, the
whole thing is a charade. It's a charade. Earlier today,

(26:26):
Trump wrote, Trump is getting a little frustrated, I see,
you know, and he's starting to vaguely, kind of at
the edge of his consciousness identify and realize what's really
going on and the position Ukraine is in. Right, So

(26:48):
here's what he writes. It is very hard, if not impossible,
to win a war without attacking the invaders country. It's
like a great team in sports that has a fantastic
defense but is not allowed to play offense. And that's
absolutely true. There is no chance of winning. It is

(27:09):
like that with Ukraine and Russia. And here he goes
crooked and grossly incompetent. Joe Biden would not let Ukraine
fight back, only defend, defend. How did that work out? Regardless,
this is a war that would have never happened if
I were president. Zero chance, zero chance, all cap interesting

(27:32):
times ahead. So Trump is starting to realize that we
America have been handicapping betying the hands of Ukraine. Then
maybe if we'd given them the appropriate weapons, maybe they
could have won. Now I don't know if this is
gonna effect, if this is gonna effect how he's going

(27:59):
to treat Ukraine. I don't know if this is going
to affect what weapons he's willing to sell Ukraine. But
it is interesting and of course this sort of came
on a day where he decided he's not going to
meet with Putin and Zelenski. If put In Zelenski want
to meet, they meet by themselves. You know, one of

(28:23):
the security guarantees that Trump claimed when he signed the
minim deal with Zelenski was, look, if we invest in
Ukraine and if Russia attacks that, ooh, then we're going
to intervene because Russia is attacking something owned by Americans. Well,
the main target of Russia's overnight attack last night on

(28:47):
Ukraine was one of the biggest American investments in Ukraine,
an electronics plant in Muka Chevy something like that on
the Hungarian border. Hundreds of workers managed to flee to
shelter just before two Russian missiles strike struck. Right, So
he's already attacking American assets, American investments in Ukraine. In

(29:10):
the US is doing nothing. So look again, as I said,
this is all theater. Nothing is happening. You know, Trump
will be presented as an attempting to make peace, but
this is always futile. Putin is just doubling down on

(29:33):
all his previous demands. Nothing has changed. I don't think
he ever told Trump anything had changed. I think Trump
was deluding himself. And unless basically Ukraine surrenders, your back's
off and Ukraine becomes a satellite of Russia, there will

(29:56):
be no peace. And of course the alternative is ukrain't
get the weapons they need to actually hammer the Russians
and push them out, or at least push out many
of them so they can be in a better negotiating position.
And that would be pretty amazing if it can be achieved,

(30:17):
right from one war to another. Just a reminder that
ask questions. You can use the super chat to ask questions.
I answer all supercheck questions, I read all Supertech comments,
so you can say whatever you want to say. If

(30:39):
there's a gen Za out there that wants to argue
with me, Superchat is a great place to do it in.
But being facts, please bring data, not just anecdotes. And yeah,
ask ask questions. Do stickers support the show? A show

(30:59):
is only parts because of you, because of you who
those of you, not all of you, those of you
who actually provide financial support for the show. All right,
So I've got two stories from the Guardian. The Guardian
is a publication in Great Britain. One of the largest

(31:21):
mainstream media publications in great bidtin both of them, both
of them. Actually, this is not the Guardian. Why am
I saying it's the Guardian? I thought it was the Guardian.
It's not right anyway. I think the Guardian is quoting this,
so has quoted this. A lot of people quoting this
is a different publication plus ninety seven two magazine. Anyway,
this is gonna make the rounds. All the anti Israel

(31:44):
people are going to quote this all over the place,
and it's worth getting in front of it and just
giving you the context. Although the context is in the article,
but it's on the headline and nobody's gonna get it.
Nobody's gonna actually think when they read, because who does that.
Nobody does that. Here's the headline. Here's the headline. Israeli

(32:06):
Army database suggest at least eighty three percent of Gazan dead,
with civilians at least eighty three percent. And this they say,
indicating a proportion of civilians slaughter, slaughter with few parallels
in modern warfare. Now what is the Now we don't

(32:31):
know what the database actually says, because nobody's actually seen
the database except sources that this magazine is reporting a
database does exist, but it's pretty clear what the database
is referring to. So this database includes a list of
forty seven, six hundred and fifty three names of Palestinians

(32:54):
in Gaza, which is really security. It is ra any
intelligence I am on is military intelligence considers to be
active in the military wings of Hamas and Palestinian Jihad,
Palestinian Islamic Jihad. So these are people, that is all
is identified as belonging three hundred and thirty undred and

(33:16):
seventy three of Ramas operatives in twelve thousand, seven hundred
and two operatives of Islamic Jihad. And this is as of
the beginning of the war. These are people whose name
they know, people whose name they know, all right, next step,

(33:37):
Israel has identified once. Then where's that number? I know
the numbers here somewhere is well has identified that it
is killed eighty nine hundred terrorists. The article calls them militants.
We'll call them well, I mean they're they're actually a

(33:59):
military push soonnel in the state of Gaza. They've killed
eighty nine hundred of them. So they take the eight thousand,
nine hundred right, and they say those are the militants
that have been killed, the military personnel that's been killed.
Total number dead in Gaza is I don't know, something

(34:21):
like sixty thousand, eighty nine hundred out of sixty thousand, wow,
eighty three percent of Gaza dead was civilians. Because the
assumption is that anybody other than the eighty nine hundred
people that Israel has identified by name was a militant,

(34:45):
was a member of Ramas or something she had, must
be a civilian. Now, what is the fallacy there? The
logical obvious fallacy there, And it's important to set this
out because again, this is a number that's going to
be used now forever. Eighty three percent. Now, look, I

(35:06):
have no number in terms of what's acceptable civilian casualties
in the war, So I don't. I don't. That doesn't
bother me that wrong, But it's just wrong to use
this because it's just not true. By your own story.
It's not true because what does it assume. It assumes
that every single, every single member of Ramas and Palestinistlamijiha

(35:32):
that Israel has killed they also identified by name. They
also checked his name off the on the database, and
we know that's not true. Tunnels were blown up with
people inside. They don't know who is in there. People
are shot in the battlefield. They didn't go and identify
every single one of the bodies. They bomb, you know,

(35:57):
they bomb a war room, they bomb cars, they bomb homes,
they with Hamas and Islamansia had inside. They don't necessarily
know every single person there. I mean, it's just this
is just made up. The fact that they could identify

(36:20):
eighty seven hundred of them, eighty nine hundred of them,
is pretty amazing intelligence that they actually had a name
associated with nine hundred bodies that are out there in
Gaza having been killed. Over two years, they've killed many thousand, many, many,

(36:41):
many thousands of terrorists, but they don't know their names.
They don't know who they are on the list. They've
never seen the face. They're stuck there, deep in tunnels
and under rubble. And the article says this, It acknowledges

(37:04):
that these are people that identified by name, right, it says, Yet,
since it does not include operatives who were killed but
could not be identified by name, it doesn't include cousins
it took part in fighting but were not official members
of Ramas of Palestinia SLAVIGIAD, and it does not include

(37:26):
political figures in ramas, which is what considers a legitimate target.
It says that in the article, and yet they still
used eighty three percent figure. They still talk about cornage
of civilians. It is so dishonest, it is truly truly pathetic.

(37:49):
The IDF did write a statement to the Guardian when
the Guardian published this data, saying figures presented in the
article are incorrect and do not do not reflect the
data available in the IDF systems. That won't make any
difference to anybody, but the whole point of this, it's

(38:10):
just wrong on its face. By Israel's estimate, they've killed
probably close to thirty thousand, and the number of civilians
is one to one civilian to military, and by that measure,
it makes it one of the fewer civilian casualty events
in modern warfare. Much less than you walk, much less

(38:31):
than I'm going to stand even But here you go.
You're never you know you're going to be now inundated
with this propaganda anyway, you now know how to combat it.
It's basically bullshit. For every one identified Hamas, they're probably

(38:52):
three that are unidentified. There's probably twenty thousand that are
not identified. Leading to about thirty thousand HAMAS members killed
Hamas in Islami Jihad and other terrorist organizations which are
also active in Gaza. All right, so that is a
clearly deceptive story and using statistics to deceive. This one

(39:17):
is interesting. This is us in the Guardian, and this
one is kind of a come to Jesus article or
come to you know, reality article. Even the Guardian, left
wing publication that it is. The Guardian is very left.
It's left of the New York Times. Uh, it's left

(39:39):
in British standards, which is way left in American standards
even And this is what the headline of this article has.
This is amazing. Dramatic slowdown in melting of Arctic sea
ice surprises scientists. Just to read from the article, the

(40:03):
melting of sea ice in the Arctic has slowed dramatically
in the past twenty years, scientists have reported with no
statistically significant decline in its extent since two thousand and five. Now,
that's shocking because that completely contradicts all the predictions, all

(40:26):
the models it continues definding. Surprising, the researchers say, given
that carbon emissions from fossil fuels burning have continued to
rise and trap even more heat over time. They said

(40:49):
natural variations in ocean currents that limit ice melting had
probably balanced out the continuing rise in global temperatures. However,
they said this was only a temporary repeval. Don't worry.
We're still all die from climate change. Don't worry a
temporary reprieval, and melting was highly likely to start again
at about double the long term rate at some point

(41:10):
in the next five to ten years. The findings do
not mean Arctic sea ice is rebounding. Sea ice area
in September, which area in September when it reached its
annual minimum, has halved since nineteen seventy nine, but it
just hasn't gotten any worse since two thousand and five,

(41:31):
which surprised them. But don't worry. It's going to happen
because we mean so good at our predictions in the
past that we should expect our predictions in the future
to be true. God forbid we actually question the models,
or re evaluate the models, or re evaluate our thinking,
or dig in deeper into what's going on. They still

(41:55):
say that Arctic is still expected to see ice free
conditions later in this harming people and wildlife in the
region and boosting global heating by exposing the dark heat
absorbing ocean. But if the heat absorbs, the ocean absorbs heat,

(42:15):
and wouldn't that make it. I don't know. I shouldn't
I shouldn't comment because I don't know the science. So yeah,
it's not happening. Catastrophe has not happened. Things are good,
but don't worry. They're about to get a lot worse.

(42:35):
We were wrong for twenty years, but don't worry. We
will be right in the next ten to fifteen years.
I mean, this is my argument against climate change catastrophism,
one of my main arguments. Because I'm not a climate scientist,
I don't understand the models. I don't know the models.
I haven't run the models, I haven't analyzed the models.

(42:55):
It's not my field. I don't have a strong opinion
about the models. But this is what I have a
strong opinion about because I'm a finance guy. And as
a finance guy, if you come to me with an
investment idea, the first thing I ask you is, you know,
how's this idea done in the past? Have you run simulations?
Have you invested this idea? And and and and you

(43:16):
tell me in the past. It's never been able to
predict anything. It's a it's a it has always failed.
Like when we predicted that, you know, overpopulation. Yeah, we
failed in that. We didn't predicted right there. And then

(43:38):
we've predicted global cooling. Yeah yeah, yeah, that that was
a bad prediction. And then we predicted uh, you know,
we would all die in five years. I mean, yeah,
didn't work out. But this time, this time, the model
will work. We haven't changed our thinking. I think he's
still governed by the same model. But this time it'll work.
This time. Well, shut that the world will end. It's

(44:01):
never ended before when we predicted it. But don't worry now.
None of you would give that person money. This was
a financial thing. Yeah, we didn't predict the financial crisis.
We've never really made any money. We've never really predicted
the direction of markets. But we know we can in
the future. And yeah, for the last twenty years a

(44:24):
model didn't work. Ice didn't melt. But it will work
for the next twenty years. We guarantee it. Really, it's science.
We've got a bunch of scientists telling us this. Sorry,
I don't believe you. When your predictions start working out,
When you can actually make money in the market, which

(44:44):
is the equivalent of predicting. Then I'll look at it again.
Are we consider you know, there's nothing in philosophy, there's
nothing in my view of the world that says that
we couldn't have catastrophic warming. I guess we could. YEA.
I don't know enough about the science to say it's impossible.

(45:05):
I do know that the people in the environmentalist movements
have been lying and deceiving us, have been wrong, have
been confused. I've used, by it science or inaccurate science
or immature science or whatever they want to call it,
and they've been wrong. And until they're right about something,

(45:28):
I'm not going to take them too seriously. So my
general view is, yes, makes sense that the world is warming,
and there's enough anecdotal evidence to suggest that at least
in some places climate has changed and there's warming. Whether
it's man made or not, how to tell. Probably some
of it is man made, they might be other factors.
I see no REASONAB believe the catastrophism. I see no

(45:50):
reasonab believe there's a catastrophe around the corner, that we're
all going to die, that we're all going to be
flooded and if sea levels rise. I'm a big believer
in building dykes, in using technology to overcome whatever challenges
we face. So I don't buy any of the catastrophism.
And I can do that without being a scientist, because

(46:12):
I know enough about this group of people, these environmentalists' history,
about their motivation, about the success in predicting the future
in the past, and I know enough about human ingenuity
to be able to say, Yep, we'll survive, we'll survive.
I mean, I don't have firsthanded information. I'm not a
climate scientist. I haven't studied the graphs. I don't have

(46:37):
as much information as Alex does. I trust Alex, so
I trust his analysis and his analysis I think it's
consistent with what I just said. But again, what I
do at first that information is because I've been around
since the nineteen sixties, that they've been wrong and wrong
and wrong and wrong and wrong and wrong and wrong

(46:58):
and wrong, and it's very very rare that they're little right,
and when they are right, it's just a little and
it's never with hysteria that they project all right, California, California.

(47:19):
There's a press release today or a press release today
by Bed Bath and Beyond, a company that used to
used to be able to used to see bed Batman
Beyond everywhere. It was an incredible successful retailer that had
stored in every stripmall you would do, lots of strip
palls would have Bed Bath and Beyond. We had want
to put a week off and it went bankrupt not

(47:40):
that long ago. But I guess it's come out of bankruptcy.
It's shrunk, it's a lot smaller, but it's still it
still exists. It's still out there operating a bed Bath
and Beyond and that bed Batman Young Executive chairman Marcus
Limanius announced on Wednesday that the one thing they will

(48:00):
not do, the one thing that they know they will
not do as they try to recover coming out of bankruptcy,
is they won't open or operate any retail stores in California.
And he said, look, I like this statement says, this
is not about politics, It's about reality. That's perfect. It's

(48:22):
not about politics's about we actually have the letter here
I want to saying. Let me pull up the letter
that he wrote. I mean, this is a statement from
the chairman, right, we will not open or operate retail
stores in California. This decision isn't about politics, It's about reality.
California has created one of the most overregulated, expensive and

(48:43):
risky environments from business in America. It's a system that
makes it harder to employ people, harder to keep the
doors open, harder to deliver value to customers. The results
higher taxes, higher fees, higher wages that many businesses simply
cannot sustain, and endless regulations that strangle growth. Even when

(49:06):
the state announces a budget surplus. It's built on the
backs of ordinary citizens who are paying too much, and
business were squeezed until they break. At bed Bath and Beyond,
our responsibility is to our customers and our shareholders. We
will not participate in a system that undermines both. Instead,

(49:31):
we're investing in a California strategy that works twenty four
to forty eight hour delivery and in many cases, same
day service. Californians will continue to get the products they
love through Bed Bath and Beyond dot com, but without
the inflated costs created by an unsustainable model. In other words,

(49:52):
they will be building warehouses in Nevada and Arizona across
the border. We're taking a st and because it's time
for common sense. Business deserves the chance to succeed, employees
deserve jobs that last, and customers deserve fair prices. California
system delivers the opposite. That's why bed Bath and Beyond

(50:17):
will serve California customers directly through Bedbathmbeyond dot Com on
our terms and with their best interests at odds standing ovation.
Good for him, this is what we used to call
going galt. Basically, he is withdrawing his sanction from the

(50:39):
state of California, doing it and presenting it in a
self interested way. This is about us. This is about
our shareholders, and this is about employees, and this is
about our customers. This is about you know, being able
to run our business. And it's well done. And you know,

(51:04):
I love the part where he says, yeah, they run
a surf plus, but that's because they're squeezing. It's on
the backs of citizens and they're squeezing businesses until they break.
I mean, how many CEOs of the guts to stand
up the government like this. So good for Marcus Lamonnis.
I congratulate him. Maybe maybe the AD Institute's is send

(51:27):
him a you know, send him a letter congratulating him. Anyway,
this is great, and I will I will check out
bed Bathroom Beyond. I thought they'd gone. I thought they
were gone. Oh, I guess, I guess. Here's the story. So,
in twenty twenty three, the original Bid Bathroom Beyond fault

(51:47):
of Chapter eleven bankruptcy and shuttered all physical stores after
contending with the issues such as poor inventory management, slow
adoption of online shopping trends, and so on. Overstock dot
Com purchased this brand, name, domain and other intellectual property
for twenty one million dollars in June twenty twenty three,
and subsequently relaunched the website under the bed Bath and

(52:09):
Beyond banner. In November twenty twenty three, Overstock rebranded its
corporate identity as as Bad as Beyond Ink, but Cooklands, Inc.
Finalized a twenty five million dollar investment deal with Beyond,
which is also the parent company of Overstock. Anyway, this
is all complicated, and the consequence of this is that

(52:35):
Cookland is going to become the exclusive brick and mortar
operator and license c for new, smaller format neighborhood bed
Bath and Beyond locations nationwide, and they changed their corporate
name to bed Bath and Beyond. Cookland did after they
bought all the assets, and they have listed in the

(53:00):
stock market on the b b B Y on the
New York Stock Exchange, and they are making a go
at resurrecting bed Bathroom Beyond at the same time as
they are going overstock dot com overstock dot com as
a something separate. All right, that's the story a bed
Bath and Beyond. But I love I love this letter.

(53:21):
I love this statement. If CEOs, more CEOs just stood
up to some of these crazy things the government is doing,
we would all be living in a better world, and
certainly I think the CEOs overall would be in a
better world. Cookland is Costco's generic brand. I wonder if
it's I doubt it's the same ones, but I maybe

(53:43):
I don't know. But we should send a copy of
attlet Schrugged to the CEO. I've made a note of that. Hopefully,
hopefully we can do that. Here's a funny story. Not
a positive story, I guess, but a funny story. So

(54:03):
it turns out that Trump has decided that his big,
beautiful wall between Mexico and the United States should be
painted black. Because what is happening. I guess I haven't
read much about this. In spite of the fact that
you know, crossings of the US boat has followen by

(54:25):
some talent. Since Trump is coming to office, there's still
people I guess, climbing the wall and getting over it
and succeeding in coming into the United States. And that's
of course not acceptable to President Trump. So he is
suggesting that in order to stop them from being able

(54:48):
to climb the wall, he is going to have the
wall painted black. Painted black. By the way, just see,
you know the one thousand, one hundred and fifty miles
bought a wall. Painting it black will cost around two
point five billion dollars. Two point five billion dollars. Now,

(55:11):
why would you paint it black? And why would painting
it black reduce the number of people climbing over the wall?
I couldn't figure that out. I mean, what's the color
got to do with how many people? Maybe they can't
see it at night, I don't know. I mean, it's
Trump after wall, so who knows what are he's thinking.

(55:31):
It turns out this is the reason. Black will cause
the wall to absorb more heat, and therefore, because it's
made of matter, so black the matter will absorb more heat,
it will become hotter, and it will become more difficult
to climb over the wall. I guess during the day

(55:52):
at least to get in. It's because black absorbs more sunlight.
Two and a half billion dollars, I'll say they again,
two and a half billion dollars billion to paint this
war black. And you have to paint on both sides

(56:12):
to absorb as much heat as you can, and the
sun moves. I think they get kept the cost that
they get. You know, if they if they went to
if they went to home depot and instead of ice
arresting the people standing outside of home Depot looking for
a job, they actually employed them in painting the war black.
They would probably do it for half ice. Probably they

(56:35):
do it for one point one point two five billion
instead of two point five billion. But there you go.
This is what you're goverment is spending money on painting
walls black so that they heat up more, so that
you know, people trying to come into the United States
to work burn their hands and feet and legs and

(56:55):
body trying to cross and fall off the wall, and
we're third degree burns. Just of course, they could buy gloves.
I don't know if they've thought of gloves. You think
you think the legal immigrants have thought of gloves. Maybe
they bought gloves. They could climb the wall even if
it's black. I don't know. You guys tell me the

(57:17):
sunshine is mostly on the Mexican side. That's true. They'll
they'll paint that side black too. I mean, I think
the Mexican side is still in America, so they can
paint that black. And they will paint that black too,
so they'll catch the sun no matter where it is,
and they'll make sure those Mexicans who try or whoever
it's on Mexican's primarily who try to cross over will

(57:39):
still will still get burns. I mean, I guess the
next thing is to tunnel underneath. I don't know, or
buy gloves. Being a ladder, it's got to be ways
to get over the wall. A ladder, you need something
on the other side, a parachute. I don't know. Be create, hey, immigrants,

(58:01):
if you want to come to America, be creative. The
wall is not black. Imagine imagine if this happened like
every night on the Mexican side, A bunch of guys
would come out and painted white, and then and then
they'd have to paint it black again, and then it
would cost more than two point five billion, of course
five billion, because they'd have to repaint it all the time.

(58:22):
That would be kind of funny. There's a comedy there.
Somebody should make a comedy about the black wall. All right,
that is the news on that unseerious note. But then
you know this is the administration's doing and they're not serious.
That is the news on this August twenty first Thursday.

(58:43):
We're getting close to the end of August. Yes, we will
now move to the super chat section of the show,
and I just will encourage everybody to jump in and
support the round book show you. If you gain value
out of the show, please show it in return a trade.
Become a trader. Be a trader. Traders pay for what

(59:05):
they get. You guys are listening to show many of
you after the fact, after it's live, many of you live.
There's one hundred and twenty on YouTube. There's probably a
similar amount one hundred and fifty four on x You
should become traders. You can do so by coming over
and doing a sticker buck ninety nine and ninety nine
cents or fifty bucks whatever you guys want, and or

(59:31):
you could become a monthly supporter, a regular monthly supporter
on Patreon and and yes, help support the show. That
would be that would be really fantastic. Again, it's it's
an issue of integrity and its issue of value for
value and being a trader. They are also if you,

(59:55):
if you are willing, please press the like button. That
costs you nothing and it helps to algorithm fantastically. It
really really helps to algorithm. It elevates the show, it
exposes the more people. She's just passed a like button.
We don't somebody said in that chat, we only have seven.
You have to refresh your screen. There's a lot more
than seven, but there still should be a lot more

(01:00:18):
given how many people have watched the show already and
on live right now. So please consider supporting the show
and engaging Lucinda just did just gifted five memberships. That's
another way you can support the show is by gifting memberships.
I'm going to gift five. I just gifted five memberships.
But you two can gift memberships. That's another way to

(01:00:40):
support the show and to raise to raise money for
the show. But again this show couldn't exist without financial
support from you, to the extent that you don't support
it financially. Yeah, you're putting the show at risk. All right,
did what did I want to say? What did I

(01:01:02):
want to say about? Yeah, Patreon. Become a supporter on
Patreon please that helps a lot. That is consistent money.
John just did a stick of Let me thank the
stick of people, and then and then we'll go on
with answering your questions.

Speaker 2 (01:01:19):
But Katherine, thank you, John, thank.

Speaker 1 (01:01:23):
You, and let's see Yeah, Barbara, thanks PB, thank you.
And Jonathan Honing of course as always is here.

Speaker 2 (01:01:33):
Thank you Jonathan and Catherine again, Kad twice.

Speaker 1 (01:01:40):
Yeah, thank you guys. I really appreciate the support. But
questions are better. You know why questions are better because
you get to shape the show and and you get
asked me questions and I get answer them. There's a
bit of a drop off in questions. I don't know
if that's because you're questioned out you just have asked
all the questions you have, or you're becoming shy or

(01:02:01):
I'm not sure, but ask questions. I'll talk about anything,
as you know. All right, David, thank you, thank you,
thank you. David did two questions at fifty dollars each,
So let's start with the first one. How you ron
glad to be able to join today's show. I feel
you didn't give Trump administration kudos for broking the Zabajan
Armenia piece deal. Your thoughts, I mean, look, I'm not

(01:02:24):
an expert on a Zabajan Albania, but Armenia, sorry, Amenia,
god Albinia, somewhere else Azebajon Amenia. But the reality is
that I don't think that they were that evolved. That is,
I think they they managed to create a great photo
op and they maybe put the finishing touches and got

(01:02:44):
them all under the same place to actually sign the deal.
But my understanding, and granted it might be flawed because
I didn't I haven't really gone deep into it, is
that this deal is being worked on for months now.
It started last year, after it really started after the
Abaijani kicked Armenians, but after the Zabaijani's basically showed them

(01:03:09):
that this significantly superior to their militarily, so the Arminians
had no option but to negotiate this deal. This is
not a particularly this is not a deal. Amenia two
three years ago would have said, yeah, yeah, we'll take that. No,
this is not a pro Armenia deal. But Amenia came
to the conclusion they have no choice for two reasons.

(01:03:29):
When they lost in a war Tizederbrajon pretty clearly it
was unequivocal. And second, they lost their sponsor. That is,
I think Armenia expected the Russians to support them in
that war. They expected the Russians to back them up.
They've expected the Russians to come to their aid at
least in some way, and the Russians did nothing, just

(01:03:51):
like the Russians did nothing with Iran. So they were really, really,
really you know, disappointed with Russia's approach, and and so
they had they had no choice but to negotiate with Azerbaijan.
They did not want another war. So that's one reason
they won. And America had nothing to do with that victory.
That is, Azebaijan won that. And and again I'm not

(01:04:14):
pro as arajenen one that primarily because of aid from
Israel and from Turkey, and my understanding that they that
most of the negotiating for this deal was done by
Turkey and France. France, uh has has become a major
ally of Armenia and stepped in to kind of support

(01:04:38):
Armenia in the negotiations. Turkey has been an ally of
Azabajon forever. There'sari's are Turkish by tribal association, if you
go back long enough, so I'd say that I'd say
that most of the work, most of the proposals happened

(01:04:58):
under the guidance of the French and the Tooks, and
that Trump administration stepped in and took advantage of the
situation that already being worked out for the most part
and capitalized on. And nobody wants to step on Trump's toes.
Nobody wants well, you know, mcclun doesn't want to say no, no,
I did this Trump, Why are you taking credit for this?

(01:05:22):
So that is my understanding what happened. I could be wrong.
It could be that Trump played a much bigger role
in it than I'm giving him credit for. But I'm
skeptical and the reality is that most of the hard
work was done by Zervajan. And I mean, I really,
I really don't think America played big role there. So yeah,

(01:05:46):
that's why I didn't give the Trump administration much credit.
Because I don't think there's a David second question fifty
dollars as well, Thank you, David. I'm frustrated with my
kid's negative view israel I. Try to present them with
the facts and they've agreed to disagree, But then I
see my daughter posting a starvation narrative on an Instagram.

(01:06:10):
How can I convince them? Well, I mean, you're battling
kind of what's acceptable socially within the world in which
they live, which is on Instagram and on Facebook and
all of that. I mean I would do I think

(01:06:30):
there are few things that are worth doing. One of
them is I would take them to Israel, put them
on a plane and take them to Israel, and I
would spend some time in Israel. I would take them
to Gaza border. I would take them to the Lebanese border.
I take them to the Syrian border. I would ask
them if they see any differences. I would have them

(01:06:52):
meet Israeli kids their age and have them talk to
Israeli kids their age about their experiences and you know,
so I would expose them to firsthand, give them first
hand experience with it is It's a great place to visit.
You'll have a good time. They will, they will object

(01:07:12):
to going, but you're their parent. You tell them they
have to go and just take them there. Second. I would,
I would. I don't know how old they are, but
I would sit them down and make them watch the videos,
the videos that Hamas filmed on October seventh, and I

(01:07:34):
would make them watch through a bottle of videos to
all this starvation stuff. I would show them the headlines
where the New York Times is retracting their stories and
the stories of you know, people who oppost Hamas, even
within Gaza. So you can't agree to disagree, you know,

(01:07:57):
you have to bring out all the ammunition you have,
and suddainly, the biggest ammunition I think you have is
taking them to Asrie. So I mean, that's the best
advice I have. I don't know if it's any good.
I don't know if it's doable. I don't know, but

(01:08:17):
I don't know dynamics. But I wouldn't agree to disagree.
They are wrong. This is wrong, it's unjust, this is horrible,
and reality is what it is, and they you can't
let them ignore reality. And you've got to confront them

(01:08:42):
with reality over and over and over again, because otherwise
they'll learn that truth is to be found on Instagram
and truth is not to be found on Instagram. Make
them read a book, make them watch the documentary. You
watch a TV series, but think about all the attracted

(01:09:07):
headlines from the New York Times. New York Times had
a story and then it attracts it story and BBC
even more so. So hopefully that helps at least a
little bit. Wes wes as, I just watched fifty Dollars
as well, Thank you, Wes. I just watched your segment

(01:09:29):
on Callson and feudalism from the last from the last show.
It's absolutely amazing that people can operate with such primitive ideas,
isn't it Just stunning, Just absolutely stunning. So, I don't
know if you saw the latest clip from calson. I
was going to show it today, but then I figured,
you know, we've had enough of Tucker Callson and so

(01:09:56):
so I didn't show it. But I don't know if
you've seen it. It's it's online, it's available, it's easy
to find. And he's interviewing a guest and the guest
goes through this whole discussion and at some point he says, like,
you know, it's probably the case that we should have

(01:10:20):
sided with Hitler against Stalin in World War Two. I mean,
I laugh, because what else can you do? And Tucker
Cosson is not even said, I mean, United State should
have sided with Hitler Stalin? Was the really you? Because
he's a lefty right, and he actually says maybe the

(01:10:42):
Holocaust wouldn't have happened. Then how is us siding with
Hitler going to prevent the Holocaust? Exactly? And anyway, the
whole thing is so disgusting. But this is the kind
of people he has regularly on the show that he
agrees with, that he supports. Right, this is Tucker Calson.

(01:11:04):
And I will remind all of you, as if you
need reminding that I've been warning you about Tucker Calson
for years and years and years, well before he took
this completely insane wrote I warned you, I told you,
I told you this is what he was, and this

(01:11:28):
is and he's become exactly the worst version of what
I thought he was. But there you go. All right, guys,
another reminder. We've got goals. You guys have been weak
and achieving those goals the last few days. We've got
to get back on track. We got to get those

(01:11:50):
we got to get those two hour goals. We've got
enough people watching right now that it should be definitely attainable.
Just with some stickers and some questions and some people
doing twenty dollars, fifty dollars stuff like that, we should
be able to make it. But yeah, we'll be slacking
off a little bit. So we still got two hundred

(01:12:11):
dollars to get to the five hundred dollars goal, which
is the two hour goal. And of course, if you
ask a lot of questions, we'll go into the third hour.
But let's try to make it a value for value.
Lots of people watching we've never contributed to the show,
jump in and contribute, and yeah, you can do a sticker.

(01:12:32):
You don't have to ask a question. You can do
a sticker instead of that, like audif just did a
two dollars sticker, Yeah, if everybody just does that, we're good.
We're golden. Jennifer a quote from Neill put quote. Lady
luck is golden. She favors the bold, stop throwing stones.

(01:12:55):
The night has a thousand saxophones. So get out there
and rock and roll the bones. Get busy. That's that's right.
There's a there's a song for gen z is get busy,
start producing, start making something in your life. Don't just

(01:13:15):
sit there and whine and complain. Do stuff. It's a
good for neo poet. He had some great great lyrics.
It reminds me of a you know, doctor Seuss has
some great stuff. If you ever read Doctor Seuss, uh,
And he has some amazing some of his books are

(01:13:36):
truly amazing and and and I forget the names of them,
but there's one of there's one a birthday thing, and
there's one about the Things You'll do The Places You'll
Go that's my favorite. Oh the Places You'll Go. That
is such a good book. It is so much fun

(01:13:56):
and it's it's uh, you know. And he comes down
on the bureaucrats and the wastefulness of waiting and being
in line. I hate being in line. And it's so
value or in it. It's so action oriented. You got

(01:14:17):
to check out Doctor Seuss. If you haven't read Doctor SEUs. Sorry,
I know he's not politically correct. But All the Places
You'll Go is a wonderful book. And if you have kids,
it's a must have to read to your kids. That one,
and I think there's a birthday book that's also really good.
But The Places You'll Go is my favorite. Check it out.

(01:14:39):
I think you're probably laughing all that Boomerry again, but no,
I think it's good for gen zs too. Gen Zas
should really read Oh the Places You'll Go. Yeah, that's right,
David reminds me of The book also comes down on
Charlatans makes fun of Charlatan's My favorite parts is waiting
for this and waiting for that and waiting for poorn

(01:15:01):
and he says, don't wait, you know, just go do
and and it's it's it's it's a it's an exciting, motivating,
thrilling I think book all right. David asks do you
have any thoughts on Gavin Nusan's trolling Trump on social media?
I mean, good for Gavin Newsom. I don't know if

(01:15:21):
it'll work. I don't understand trolling. I don't understand the
attraction it has. But it shows Gavin Newsom to be
standing up to Trump and being willing to stick it
to Trump and go after Trump. And I think the
Democrats need that. They need a figure who who is
willing to do that and be energized and vocal and trolling.

(01:15:48):
I guess so I get why he's doing it. I
don't know that it works. I don't understand these things,
but why not. I guess he he called him tiny hands.
It's great. And the thing is that Trump can't handle it.
So Trump is super upset by this stuff because he
has a very thin skin, because he has no self esteem.

(01:16:10):
And I'm sure it's pissing Trump off. So just that
is worth it. It's just the idea. The thought that
Trump is being pissed off by the trolling of Gavin
Newsom makes it all worthwhile. Gavin Ussom is a is
another you know, he's a creep, he's a he's he's dishonest,
he's a leftist, he's a politician, he's a hypocrite. He's

(01:16:33):
a terrible human being. So it's not like I'd like
Gavin Neussom. He's just a terrible human being. But to
the extent that he can get on the Trump's skin.
Gophered Gopher Richard. I had an idea quote, those who
expect the worst of people fear freedom, How would you

(01:16:56):
improve it? No, I think that's a good statement. I
think people who expect the worst of people afraid of freedom,
because then people will have the freedom to do horrible
things to them. People will act their worst. I think
this is why Christians can never be full freedom, never
trust individuals, because we're all fallen and as falling individuals,

(01:17:21):
freedom might allow us to do horrible things to ourselves
to other people. So Christians can never be real Christians.
Christians will leave in the fall. Christians who believe can
never be pro real freedom, individual rights, freedom, and I
think socialists who have a very negative view of man

(01:17:43):
of self interest and believe that freedom encourages people to
pursue their self interest can never be for freedom because
then again you're leaving people free to pursue their self interest,
which means they'll do horrible things. So in that sense,
Christians and so and leftists who all have a very

(01:18:03):
very negative view of the nature of man and of
self interest are never going to be for freedom. So
Christianity and inherently is anti freedom in my view, And
you had to really modify it dramatically, as the Founding

(01:18:27):
Fathers did in their heads and when they wrote about it,
to make it somehow even remotely compatible with freedom. So
I like that formulation Andrew. Motivation by fear can create
self esteem made of defense of survival values. That's not
self esteem, but it pales in comparison to self esteem

(01:18:50):
made by motivation from love, a psychological creation of the
existential creator. Any thoughts, I don't think the first one
is self esteem. Motivation by fear can create values out there,
can create stuff. It can drive you, but it's exactly
the fact that it undermines self esteem because the fear

(01:19:11):
never makes you feel like you've owned it. The fear
never makes you feel like you're responsible. The fear separates
you from true responsibility and understanding of what led to
your success, so you never really you can never achieve pride,
and as a consequence, you can never really attain self esteem.
So I think it's pseudo self esteem. I think self

(01:19:33):
esteem motivated by love or from love is You're right.
You understand that you created this, that you created it
for yourself and because it's your values, and therefore you
gain all the psychological and existential benefits from it, including
self esteem. Listened, thank you, Listenda, and I saw you

(01:19:58):
also gifted some memberships. That's great, sin, it says. My
mom got letter from police because her boyfriend made some
mean comment about Islam, which count as punishable posts court
hearing is in a week. The longer I'm in Germany,
the less I like it. Can't wait to leave. Yeah,
I mean, everything I'm reading, maybe I'll do this as

(01:20:19):
a story tomorrow. Everything I'm reading, just the free speech
situation in Europe, particularly in Germany and the UK, is
truly horrific, and the prime focus, shockingly is to protect Muslims,
protect their feelings, to protect them from insult. It basically

(01:20:44):
shows that the publisher of the Muslim cartoons, Fleming Rose,
was one hundred percent right that Europeans are being silenced
when it comes to Islam, that Islam is winning that war.
The Europeans have agreed to be silenced, and this bodes very,

(01:21:07):
very badly for the future of Europe. Now again, I
still strongly believe the Europeans will wake up one day
and Hammond the Muslims as a consequence. But in the meantime,
there's a lot of pain to be had, and you know,
free speech is really dying in Germany. I mean, I

(01:21:27):
wonder if I can even come and give a talk there,
particularly if it's on you know, farm policy or something
like that. It's not true everywhere, but certainly in Germany
you just can't. You can't say anything that might be
viewed as offensive by a Muslim. You can't draw a
cartoon of Muhammad. I guess that would be against the

(01:21:49):
law because some Islamist is going to be offended by it.
Ware are you heading? Listen? There? So where you're gonna leave?
The problem is where do you go? Germany? Bad? Where
do you go? I actually like Putugo. I'll tell you why. Well,
the weather's great, so that's a big plus. But Portugo
has a lot of immigrants, and a lot of immigrants

(01:22:11):
from Africa, but most of them are not Muslim. So
the immigrants, and this is different in Spain. And it's
because where the Portuguese what do you call it, colonies
work and gold and Mozambique where almost all the inhabitants

(01:22:31):
of Christians, Catholics, primarily some Evangelicals, some still probably pagan.
But so the Africans who come to Portugo, who you
see in the streets of Lisbon, are not Muslim. And
and you know, my problem is not with immigration. My

(01:22:53):
problem was with Islam, particularly with the Slamists. So yeah,
it's it really is horrible answers Which right wing group
is attacking free speech? There? All are all, I mean
the biggest the government. The government is our right of

(01:23:14):
center government, and they're attacking free speech. It's consistently in Europe. Now.
It's true that the far right is pro speech that
that offends is Slam, so they're probe speech that defends
the Slam. But we know that far right is always

(01:23:35):
anti free speech that offends them. So they will make
it legal to offend the Slam, and they're likely ultimately
to make it illegal to offend Christianity. Now that'll take
a while, or to offend Hitler, or to offend I
don't know who. So the far right has always been
anti free speech. They're just okay with defending Islam. But

(01:23:59):
it's a it's a right of Senate government in Germany
right now. But I'm curious where so I think while
Portugal has a lot of immigrants, it's a lot less
coursive and a lot less damaging because the proportion of
those immigrants are Muslim is a lot smaller. They do

(01:24:20):
have quite a few, I think from Pakistan and India,
but again, the African ones are pretty much all Christian,
so it's a big difference. All right, David, just want

(01:24:40):
to be extra generous today because I've been free writing
past few months listening to your show on podcast. Thank
for your hard work. It brings me tremendous value. Thank you, David,
really really appreciated, and thank you for your generosity. That
is great, and I'm glad you're enjoying the show and
listening to it regularly even if you're not live. All right, guys,

(01:25:03):
we've cut the deficits deficit spending. We've cut the deficit
in half, but we still and David is mostly responsible
for most of the super chats today because he did
three fifty dollars ones, but we still got one hundred
dollars to go. So five twenty dollars questions, we'll do it,

(01:25:24):
or ten ten dollar questions, twenty five dollar questions. Well,
just stickers, a lot of stickers. That'll do it too.
That'll do it too. I did see some stickers I
thought a DF I think I think Dad for ready.
All right, so maybe no new ones. All right, let's
keep going with questions, blaze geitar lessons. If the US falls,

(01:25:49):
where would you go? Recommend going, Oh, I don't know.
I mean, that's that's really really difficult. I mean end
of the world scenario. I like New Zealand because it's
an the middle of nowhere, has no natural resources that
anybody really wants, and it's a beautiful place with people
who speak English. So maybe New Zealand Argentina if me

(01:26:11):
lay continues to be successful. So somewhere in South America
that is not super violent, like Brazil or I don't know,
but even Costa Rica now is becoming more violent. I
don't know if David feels that, but the statistics show
that violence is increasing Costa Rica. So somewhere in Latin

(01:26:32):
America where you'll just be left alone. And again, I
like Southern Europe. I like Portugal, So I think that
if things get really bad in America, things also get
really bad in Europe. So I'm not counting on it,
but I doubt us falls without a lot of damage
being done all over the world. Blay's guitar lessons. Is

(01:26:56):
it worth pushing the state legislator to remove occupational life
licensed laws such as for plumbers, barber's, cosmologists, et cetera.
Or is it futile? No? I think it's definitely worth doing.
I think there's been some success in loosening those up,
loosening those up and reducing occupational licensing in the States.

(01:27:20):
You can support i J the Instry for Justice and
their effort to try to fight against occupational licensing laws.
So yeah, I definitely think that is a avenue, an
avenue to pursue in affecting state legislatures and has been successful. Yes,
David confirms that there's plenty of violence in Costa Rican

(01:27:42):
never used to be, but it's violence is spiked as
violence declined in a Salvado. The gang is going to
go somewhere. They've got too much money. Again. The only
way to get rid of the violence is to legalized drugs. Kim.

(01:28:02):
But Gainst also saw our government bankrupt people's businesses on
a whim. Judah Covid, who's Gainst oh gen Z. Gen
Z also saw a government bankrupt people's businesses on a whim.
Jude to Covid. Yeah, although you know the reality is

(01:28:23):
that most businesses, even small businesses, were bailed out by
the what was it called the the the one that
did employment that that everybody that you could apply for
during the crisis, the most small businesses got a big
bail out from the government. Almost everybody got a bail

(01:28:44):
out from the government, but yeah, some businesses did on
a whim. I don't think that's what affected them. I
think what affected them as the lockdowns. I think they
were traumatized by the lockdowns. They were isolated by the lockdowns.
They were the fear, the fear that they already had
because of climate change and all the rest of it
was just exacerbated by the lockdowns. So I think the

(01:29:06):
lockdown's really are the things that had the worst kind
of impact on gen Z. I don't think it's business.
A small business is shutting down. I don't know how
aware gen Z is worth. Small business is shutting down. Graham,
Thank you Graham, fifty Canadian dollars. Really appreciate that. I'm

(01:29:27):
seeing this young woman right now who's and adamant socialist,
but she's beautiful, and I feel like I'm too young
to let something like politics get in a way of
sex and fun thoughts. I mean, I don't think politics
should get in a way. I don't think you shus
decide who to date and who to have sex with

(01:29:50):
based on politics. As long as they share some values
with you. If all she is is beautiful, then you know,
I don't know that you're getting the most out of
the sex and fund that you could be getting what
you need to find somebody who who really shares values.
Now they don't have to be political values, but they

(01:30:11):
have to be something that is in common between the two.
I mean, sex is a pretty intimate activity to have
with somebody that you don't share any values with. But yeah,
I mean I have no problem in dating socialists or
Christians or people who don't agree with you, as long

(01:30:31):
as there's something that you admire respect about her beyond
the fact that she's beautiful. So I don't know if
that is helpful, but I assume you're having fun with us,
suggest that you share some values in some respect, that
it's not just about her beauty. All right, let's see

(01:30:59):
Boba has a common Portugal. I just do that just
because it's relevant to what we just talked about. Comment
to Portugal. I have met many people here who have
their own businesses. The Portuguese people I know in favor
of freedom of contract, free markets, individual freedom. I love
it here. Yeah, Bob also lives in Portugal. I know
other Americans who've moved to Portugal and enjoyed it. I mean,
as long as you don't have to deal with the

(01:31:19):
Portuguese government, it's pretty good. The bureaucracy here is terrible.
Everything's slow, it's got a little bit of that Latin
America sense. But the country itself is beautiful again. The
weather's nice, the wine is really good. The food is good.
Not as good as Spain, but good Spain is a
pretty high standard. And yeah, I get the sense of people.

(01:31:42):
People are hard working, and people are ambitious, and they
want to be left alone. And they've moved away from
electing socialists in Portugal. I don't know that they have
a free market political party, but I've met I just
met a member of parliament who interviewed me for his podcast,
trying to have an impact on Portuguese politics. And maybe

(01:32:04):
we can make the more principal defenders of freedom and capitalism. Yeah,
we can hope. But yeah, it's easy in a small country,
I think than it is in a country like the
United States of America, which is so big you have
to influence so many people, and where the politicians are
so full of themselves, always says just what Spartacus from

(01:32:29):
nineteen sixty. I think it's one of the most beautiful
films I've ever seen. Yeah. Absolutely, it's a magnificent movie.
It's a beautiful movie. It's both beautifully filmed. The story
is excellent. Cok Douglas is in it. He's excellent. I
forget the name of the actress, Gene Simmons, I forget
who plays who the female leader is. She's amazing. She's

(01:32:51):
beautiful and amazing. It's got a great story, a powerful ending.
It's beautifully made. It's Stanley Kubrick at his best. This
is what Stanley Kubrick should be remembered for. Is Spotika.
So yeah, one of my favorite movies. Really good movie.

(01:33:13):
Listenda gonna move to gofriend in US. Wanted to go
to US since I was a kid, partially because political reasons,
but equal cultural and esthetic reasons. People always try to
change my mind, but I've made my mind up long ago.
Good for you. I think the US is still the
place to go, with all its problems, with all the

(01:33:34):
challenges it it is still a place to go. And
I think you're right, primarily for the static and for
the cultural reasons. More in spite of the political what's
going on politically, And we still have free speech in America,
So you can criticize Islam in America. You can criticize

(01:33:57):
pretty much everybody in America, as the IRN book show demonstrates.
So yeah, join us in America. Listen. I hope that
they don't make it too hard for you to move
to America, because this administration is making it hard. Also
on Portugal, David says, I hear the Portugal is giving

(01:34:19):
citizenship to Jews of European descent. Is this true? No,
it's not so. Portugal was given giving citizenship to Jews
of Sphardic descent. So of if you could prove that
your ancestors originated in the Iberian Peninsula, not necessarily in Portugal,
but in the Iberian Peninsula. It was until recently fairly

(01:34:43):
easy to get Portuguese citizenship. Indeed, my wife is now
a Portuguese citizen because of that. We just actually just
got her passport and she will sponsor me to get
Portuguese citizenship down the road, which will give me EU
an EU passport, which is of great value. Uh. But

(01:35:03):
they have they have stopped that program. That program has
ended because too many people fraudulently claimed a heritage in
the Iberian Peninsula, and supposedly the rabbi in Porto was
getting paid to certify the certain Jews were legitimate, like Abramovich,

(01:35:26):
the oligog, the Jewish oligog in Russia, who has no
Sphardik connection, he's Askenazi completely Anazi got hit Portuguese citizenship
and it turned out to be fraudulent, so the government
turned against it and they've they've done away with the
law so you can no longer get Portuguese citizenship on

(01:35:49):
the basis of being Jewish from Sphardik origin. So my
wife and my son just got in just under the
just before they suspended it. And they did it out
of a sense of guilt for the inquisition and because

(01:36:09):
they wanted the income it costs, I don't know, a
couple of thousand dollars. And they implemented this after the
financial crisis, when Portugal is doing really, really badly, and
Portugal is no longer doing badly. I mean, the funny
thing is that sudden Italy, sudden Europe is doing pretty well. Portugal, Spain,
Greece are doing really well. The countries that suffered the
most during the financial crisis are doing the best right now,

(01:36:32):
and a lot of that is tourism. Tourism is booming
in these places, I mean Portugal, Spain and Greece and Italy.
I've all done very very well from choice perspective. Also,
all these what do you call it digital nomads, they
make it very easy, both here and in Greece to

(01:36:54):
come here and work. You pair flat low at tax
and you can work from here. So they've encouraged the
right things. They've done some reasonable things. Andrew is measuring
sustainability of products by non human impact a contract contradiction

(01:37:14):
in terms, Well, yeah, and it's nonsensical. It's an empty concept.
It means nothing, and it's usually a lie and made
up so it's usually not even real what they're telling you.
So yes, it's an anti concept. Sustainability is what the
whole point is human sustainability, and humans to be sustainable

(01:37:35):
must change their environment, must exploit their environment. The whole
point of human existence, of human survival is the exploitation
of the environment. That's what's sustainable. And indeed, the most
sustainable political cultural economic system in human history is capitalism.
Profit is what sustains it. Okay, Clinton, gen Z here cool.

(01:38:01):
I love, I love having gen Z listeners. I agree. Still,
some days I feel overwhelmed by the world, wars, trump, corruption, irrationality,
simply everywhere. All those days, I really have to remind
me to shrug the world and live life. Yeah, and
even then, right, even then. Look, when I turned twenty,

(01:38:25):
I was in the army. You don't have to be
in the army. I mean, the summer of what was it,
the winter of nineteen eighty, the winter of nineteen eighty,
the theme song in my head was a song with
the with the lion. I know I'm going to die
this summer because I was convinced we were going to

(01:38:46):
go to war in Syria and that I would be
part of the cannon fodder on the front line in
that war. You know. And again I'm not you to
feel sorry for me at all. I'm just saying every
generation grows up. I mean, think of the world, the
two generations and when to fight in that war. Think

(01:39:09):
of the Vietnam generation of a pathetic, useless war and
having to go to fight there and being in suspense
about whether you win the lottery. It didn't win the
lottery of names drawn to go and fight in Vietnam.
Think about the seventies where violence world. There was connage
in the streets of America and it was violent and
political assassinations and Richard Nixon and you know, Jimmy Carter,

(01:39:33):
and it's never been great if you focus on those things,
focus on the things you can control, focus on things
surrounding your life, and focus on things that are good
in the world. And there's a lot of good in
the world. And yeah, this is why you listen to
your own book show so you don't have to drown

(01:39:55):
yourself in wor was Trump corruption? Get depressed during my show,
Get it over with, get it out of your system,
and move on. But I appreciate it. Clinton, thank you.
I appreciate the input. Friend Harper says, gen Z Rant
is Harper approved. Thank you, Harper. Friend Hopper recommend reading

(01:40:18):
for gen Z is Hardwiring Happiness by Rick Hanson. It's
about newer plasticity when it comes to overcoming internalized negativity.
That's good. Absolutely, anything to overcome the negativity that you
grew up with is good. Emil says, thank you, mister
book for the membership. Good stream. I'm jumping in and

(01:40:40):
out information is important. Thank you Emil, happy you became
a member. Happy to have gifted it. Capitalist Spy says
love your show you on. You bring totally new perspective
in the public debates. Best regards, Thank you, Capitalist Spy.
Esoteric dichotomy. How hard would it be for the US
to have a Hong Kong or especial economic zone with

(01:41:02):
much lacks of REGs or exempt for so security or
some tax like priests can get. I mean, any state
can do that, or well, I guess they couldn't be free.
I'm not sure how possible it is. I guess they
could do anything. But whether it's constitutional to kind of

(01:41:26):
carve out a portion of the United States and have
it function on a different law. I guess the States
could do it. Puerto Rico could certainly do it. But
the problem is not constitutional or the problem is will
and who wants to do it, who desires to do it?

(01:41:49):
The problem is, you know, who has the gods politically
to go about doing it, and how does it? How
does it pass muster in a culture that is so
resentful of those people who succeed and do well. PB

(01:42:10):
Rights Thank you PBE twenty dollars appreciated a friend retired
from Wills. Fogo says, fake accounts prove big banks always
exploit unless government regulates. If you oppose regulation, how do
you explain preventing such abuses? Look, nobody says I still
need those things. Then the capitalism they're all abuses. They're

(01:42:34):
going to be abuses, and the capitalism companies pay for
those abuses, not by getting some little fine from the government,
but by people leaving and never doing business with those companies. Again,
is there any system that can eliminate fraud? I mean,

(01:42:54):
here's the funny part, right, The fake accounts happened under
regulatory All the regulation in the world does not prevent fraud,
does not prevent bad behavior. Markets do a thousand times
better job at that and still won't prevent all bad behavior.

(01:43:19):
The reality is, if you look at business fraud in America,
almost all of it happens in heavily regulated industries and
very little of it happens in relatively unregulated industries. How
often do we get fraud in tech? I mean once

(01:43:39):
in a while, like the woman who tried to sell
those diagnostic tools I forget her name, but never got
to the point where she defaulted customers, She defauded what
do you call it, investors, and the fault was so
bad that she went to jail for a long time
for it. But how many tech companies have ever gone

(01:44:04):
but because of fraud or I mean there be some.
I remember there's a guy shipping bricks in it in
hard drive as if there were hard drives to kind
of just say that a lot was being shipped out,
and I mean, it just doesn't happen. Elizabeth Holmes, Elizabeth
Holmes is the woman I was thinking of. So first,

(01:44:29):
you can't prevent all forward. There's no system that will
change that. Some people are crooks, some people will do
bad things, but regulation doesn't prevent it. Indeed, I would
argue encourages it. Why isls fog still in business in
spite of committing such horrific acts because they're too weak

(01:44:50):
to fail, because the regulators bail them out. Now, you
know why did they do these fake accounts? Because management
screwed up incentives. And it wasn't like management said, oh,
we're going to defraud our customers. They gave people on

(01:45:12):
the front line, face the line facing customers, the incentive
because they were compensated on how many accounts they created.
So some account managers created accounts that didn't exist for customers,
whether they wanted them or not. Bad management. It wasn't fraud,
it was just bad management. How long does bad management

(01:45:33):
survive in a capitalist economy? Not long? What allows companies
with bad managers to survive and to grow even regulation?
Wolfs Fogg is a great example of that. It had
a number of different issues of bad management over the

(01:45:55):
last ten to fifteen years, and it's still thriving because
it's regulated, and it's stupeik to fail in the marketplace.
They were being crushed if they tried to do that.
Rue Downs Jakma bought a twenty acre state in the

(01:46:19):
ed rod Dak Mountains in New York for wildlife and conservation.
Thought it would be a good anecdote to include in
your talks. More billionaires doing this. Yeah, I mean that's
the way environmentalism should be done. You want to save
the spotted owl, buy some buy the forest that they inhabit,
and grow as many spotted owls as you want. Nobody

(01:46:42):
should be in a position to stop you. Good for you,
but it should be voluntary. People should act on their values.
You want to say, but you don't have you're not
a billionaire. Donate to a fund that buys up land
to preserve it. I have nothing against that, Lasender says,

(01:47:03):
as kid walking to school, it disturbed me that the
buildings were so small except the church towers always long.
For real skyscrapers and skylines. Yeah, that's great, just for that,
Just for that, you should visit. And I know it's
a tough time to visit there, but you should visit
Hong Kong, and you should visit Shanghai. I mean, today

(01:47:30):
the two most impressive skylines in the world. Hong Kong
has more skyscrapers than New York City does, and Shanghai
is just magnificent. So while I hate sending you to
China and don't move there, but you should visit for
the aesthetic reasons. Not Another guitar channel says, I want

(01:47:57):
to rescue a spot at owl and name him You're
on You should name him You're on Brook. They'll be
the only other you're on Brook on the planet. I
don't know. Do I like spotted owls. I guess I
like owls. They've got that those eyes going for them,
They've got those penetrating eyes. Going for them, I guess
I like ours. Listen to Yes, you know you have

(01:48:20):
an amazing you, an amazing child to be that observant
and see that and have a respect for skyscrapers and
that that's amazing and in the modern world the place
to go to. Sadly, I mean, America is inspiring. In
New York, Chicago, the skylines are amazing. Even some of

(01:48:42):
the small cities skylines are amazing. But if you really
want to be blown away by skyline Hong Kong and Shanghai.
Andrew has the last question, at least unless somebody asks
while I'm reading it, any thoughts on why Trump or
anyone would view human relations as the Jordan Peterson loves.

(01:49:03):
The higher key mentality is prevalent. Incidentally, I think that
mentality is the is the motivation patrolling? Yeah, I think
that's right. I have to be one up on you
because it's perceptual, because zero sum is perceptual. I give

(01:49:25):
Apple one thousand dollars, I get an iPhone. The iPhone
is worth a thousand dollars. That's the exchange. And if
you add a certain malevolence to that, that winners and
loses once I'd loses. But the idea that it's zero
sum is just the fact that people have not elevated

(01:49:50):
themselves above perception to a conceptual level to understand value creation,
to understand win win is an achievement. It took economics,
It took thinkers a long long time to understand this
relatively to us simple economic principle. And there are a
lot of people today who don't have it, who just

(01:50:11):
don't have it because they're still stuck on the perceptual level.
This is one of Ian's essays that I want to
talk about. The missing link is on that. It's the
fact that people have not achieved conceptual level is an
achievement and have not achieved that. And I think the

(01:50:31):
lobsaaki is the same things. Look at the lobsters they
climb on top of each other. Yeah, I can see that.
In human beings they do that too. I can see that.
I can see it, and to understand what's actually going
on the sense in which it's value additive and win,
when I need to think it, I need to take

(01:50:53):
those sites. I need to take those sites, and I
need to abstract, I need to actually engage in conceptual thinking.
And that's what they're not doing and novelists. Is there
such a thing as too big to fail? Well, there
is in the United States in the sense that there's
a whole list of companies, quite an extensive list of

(01:51:13):
companies today that the United States government is defined as
to be to fail and will be bailed out in
any crisis. And it's explicit, and that list is only growing,
only growing. Is there in reality such a thing is
to be to fail? That is there in reality a
company that would fail, They would have devastating effects throughout

(01:51:35):
the economy, only only to the extent that we don't
have freedom. That is, in a free world. No, there's
never such a thing it's too big to fail. Put it.
There shouldn't be such a things to be fail. There's
never such a thing as systemic risk that is so devastating.

(01:51:58):
But in the world in which we live, Yeah, if
JP Morgan Chase was shut down tomorrow, there would be
big consequences. I mean a lot of people would lose
a lot of money, and they'd be panic in the streets,
and there'd be a lot of problems. Is that to
be the fail I don't know. I don't see why, Robert,

(01:52:20):
it's a challenge to discuss the news of the day
while reaffirming what a good life, happiness, and success possible. Today,
you've knocked it out of the park. Nice Thank you, Robert.
Once in a while, it all clicks, it all comes together.

(01:52:44):
Fachu faku kastan. I'm not pronouncing your name right, Hi,
doctor Brook. How did Japan become so incredibly entrepreneurial and
innovative during the second half of the twentieth century without
ever embracing American individualism? Thanks for all you do, keep
up the great work. Well. First, the aspects of individualism

(01:53:06):
that did manifest in Japan. The Japanese ambitious The culture
is the culture of ambition. You know, Japan was industrializing
in the late nineteenth century early twentieth century, and there
was a lot of entrepreneurship in that sense individualism. And
if you look at the people who founded to Yota

(01:53:28):
and Honda and t Subishi and all these other companies,
they were ambitious individuals fighting for their vision and being
willing to invest and fight for their vision. And that's
an expecion of individualisms. There was elements of individualism in
Japanese culture, and then I think post World War they thrived.

(01:53:48):
Those elements thrived because the collectivism had just been thrashed,
you know. And if you go to Japan now, and
I think more now than even twenty years ago, you
can see individualism in the people in the streets and
in you know, in the people you meet. So I

(01:54:11):
think that the constitution of Japan, the fact that there's
a right to life, liberty in the pursuit of happiness
written into the constitution, helped move them towards kind of
a more individualistic stand So it's not American style individualism.
And their success was only partial as a consequence, and
they kind of hit a brick wall when they failed

(01:54:33):
in the late eighties early nineties with with with a
bubble burst. But they achieved a lot. They achieved to
the extent that they embraced individualism. You don't have to
embrace it totally. Even partially will get you a long way.
I think the fact that they have a free political
system is in the end of the day, a more

(01:54:55):
individualistic perspective. The fact that the global companies that sell,
many manufacture, trade engage with the rest of the world
is they're much more open than they used to be
trade wise. There's a lot of individualism in Japan, maybe
not full blown, but a lot of it. And again,

(01:55:15):
to the extent that it was there, to the extent
that it is there, to that extent, they succeed John
a win win exchanges the primary source of value production
in the economy, Well, I mean all value production relies
on win win exchanges, right, You pay your employees, it's
a win win relationship, but you pay your suppliers, and

(01:55:37):
and and so on. So I don't know. If I
don't know, No, I think the primary source of value creation,
rather than production creation in a society is entrepreneurship. It's ideas,
its ideas put into action by an entrepreneur. That's where
most of the value is created. That manifest itself in

(01:56:03):
multiple win win relationships, the values getting into all our hands,
going from production to the consumer and to us as
employees as producers. Those all win win relationships. So in

(01:56:27):
that sense, yes, it's the It's the primary way in
which we engage with one another. In the free society,
it should be the only way we engage with one another.
But even in the mixed world we live in today,
it's the primary way in which we engage with one another.
In this world. All right, guys, thank you. We'll call

(01:56:51):
that a show. I appreciate it. I will see you
all tomorrow. Tomorrow will be a little later. Will be
five pm Eastern time, so it'll be a little later
out quite late for me. I'll start to show at
ten pm, ten pm Portugal time. Uh and uh we'll

(01:57:12):
see what the news bringers says tomorrow. I'll try to
be positive. I'll try to spin in a positive way.
All right, guys, have a great rest of the week.
By

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}Gen Z Doom, Gaza Lies & Ukraine “Peace” Myths | Yaron Brook Show