🔥 Hasan Piker vs Capitalism | Trump Theater | Colombia’s Healthcare Disaster | Yaron Brook Show - Yaron Brook Show

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:04):
Fundamental principles of freedom, rational self interest, and individual rights.
This is the ran Brook Show. Oh right, everybody, welcome
to your own book show on this Tuesday, August nineteenth.

(00:26):
Everybody's having a great week so far. And yeah, we
are all ready to cover the news and cover a
variety of different issues regarding the news. I know today's
shows a little early earlier than usual. Today's show and
tomorrow's show will be at this time twelve pm East

(00:50):
Coast time, and then on Thursday and Friday we'll be
back towards two more normal if you will times. Uh
for the for the yourn book Show, and we'll see
what happens over the weekend. I expect to do a
show on Saturday and then take a week off, so
there'll probably be no shows next week while I am

(01:12):
in Naples. Uh. In Naples, I'm in a hotel with
no guaranteed internet and no real guaranteed for setup. But
we'll see. Maybe maybe we'll do some supply shows. You
never know, you never know. And then a month in Florence.
And in Florence, I have a I have an office,
so in Florence we'll be able to do shows again. Uh,
ash as usual. So this is indeed my last few

(01:37):
days in Lisbon, Portugal, so looking forward to looking for
to moving on. But I like Portugal. I like Lisbon.
It's it's been fun to be here, and I expect
I'll be back probably pretty soon in terms of giving
some lectures here, maybe in October. All right, let's let's
jump in. So before the show started, I or somebody

(02:01):
pointed out to me that there was this video that's
been released of an interview of Hassan Piker, who did
a who was doing It's an almost two hour interview about,
you know, why capitalism is so unpopular, why everybody hates capitalism?

(02:21):
Or he's of course Hasan Piker is I guess, a
gamer and a big time socialist and is often cited
as one of the big influencers out there generally with
regard to socialism. I think he has a large, a

(02:44):
large online following. Right, he's an online streamer and YouTuber
and he's thirty four years old, so he's young. He's
he's what do you call it, he's he's he works out.
I guess, I guess he works out, and uh, you know,

(03:10):
I I don't know that much about him. I don't
follow the the uh sexy socialists online, I guess. But
I saw this and I figured, yeah, this is this
is what This is my topic, right capitalism. And you know,
the title of the thing is why this is why
so many people turned turning to socialism. That's the title

(03:34):
of the of this thing. It's uh Tom Bill you
is is the guy who is doing the interview. It's
a channel with four point five six million subscribers. Tom
Bill You is not a socialist. So I thought this
would be interesting. So I watched some of it. You know,

(03:55):
I watched the first few minutes, and then I skipped
around to look for some stuff to do. I thought
I'd show you the first few minutes and comment on it.
Maybe we could skip around a little bit and just
try different other stuff to see if there's anything else
to say. My guess is that I could take any

(04:15):
section of this and critique everything he says, because what
he says is I mean, it's so ill defined and
nonsensical and contradictory to reality and to fact. But we

(04:35):
can cert we can certainly look at this, and I
think it's worthwhile looking at it because it is the
case that so many young people are turning to socialism.
I will say, you know, I've been around for a while,
and it seems like every generation there is this question

(04:56):
why young people so attracted to socialism. It doesn't last
because at some point these young people have to face
reality and they walk away from the socialism. And it
goes in ups and downs and their periods where people
are frustrated with the cost of living, or they're frustrated
with the presidents that they're con frustrated with the war,
they're frustrated with financial crisis, Wall Street something or other,

(05:18):
and they rush towards socialism and then yeah, it's not
that appealing, and then they give it up and they
and it just it just it just follows a certain pattern.
And I think we're in a moment, and I think
the moment right now is almost all a consequence of
Mamdanni mum Danny and the cost of living and gen

(05:38):
Z just being whiners and complainers about the cost of
living and so on, even though you know, factually, if
you look at the evidence, it's not as bad as
they try to claim that it is. So uh, let's
look at look, let's look at us on Pika and
see what he has to say again, I'm going to

(05:59):
be debating a pika like person in October. October, yes,
in October, No, wait a minute, in November, sorry, in
November in Colorado Springs in Colorado, Colorado Springs, Colorado at
the University there. It'll be a debate to be open
to the public. Hopefully you guys can come. It's November

(06:20):
thirteenth and it's a Thursday night, and if you live
in Colorado, would be great to see you there. It'd
be great to have you. Have you come to the debate.
It should be a lot of fun. But yeah, let's
see how right in the opening minutes, I guess he
gets asked about why people are rejecting capitalism or something

(06:41):
like that, and you know, let's see his reaction to that.
Let me just see if I can make this work.
There he is, that's a sun Pika, and let's press
play and make sure that everything is working. Tell me
if there's any issues with picture or sound or anything

(07:01):
like that. And as you know, I just need to
make sure this isn't the right speed. Yeah, I've got it.
I've got a fast speed because that's how I'm gonna
put a normal speed. We own him in his normal
voice and his normal pace, so so it doesn't look
like I'm cheating in any way. And that would also
give you an opportunity to comment on it, because if
it's too fast, it'll go by too fast. So here

(07:22):
we go. This is right at the beginning of the
interview introduction, and then this is it. This is this
is He's asked the first question about white people are
turning against capitalism.

Speaker 2 (07:34):
That's the first question. Yeah, I mean, I think it's
pretty obvious as capitalism is failing them.

Speaker 1 (07:43):
So uh, why are people to any capitalism because capitalism
is failing them? Now, No, and this is important, then
neither the host nor asan paka will ever define capitalism.
Definitions are not something people actually do these days. That
that that would be that would be hard and require
them to have precision, and we don't want that. So

(08:07):
capitalism is failing them. What does that even mean? Where
is capitalism? Do we live in a capitalist society? The
assumption that everybody has is that we live under capitalism,
and that assumption it does immense damage to us. All.
I mean, there are elements of capitalism that we live under.

(08:27):
We have some property rights and we have some freedom
and we have entrepreneurs, and we have what he defines
as capitalism, probably which is an owner and kind of
a capitalist and a wager in a separation of tasks.
But is this capitalism is the massive amount of regulations

(08:48):
that we have today? Capitalism is the massive amount of
taxation that we have today and registribution of wealth? Is
that all capitalism? Is there in any of this? Of
the importancepheres is the fact that the government is responsible
for the printing of money? Is that capitalism? We don't
live under capitalism? That is the start, So that the

(09:11):
system might be failing people, and I think it is
failing many people. It certainly is failing us in terms
of what could be, in terms of the potential that exists,
in terms of how rich we could be. But you know,
it's okay to say the system is failing us. It's
okay to say the colony economic system is failing us,
and in many respects that's true. But to say capitalism

(09:34):
is failing us, it's just bogus and ignorant. I think
it's ignoranted what capitalism is. But again, who's going to
spend any time defining terms? Not anybody? We know, right, right?
Let's see, let's keep going. Let's see what he he

(10:00):
says in terms of how it's failing them everybody, not you,
And yeah, it's not failing these two guys because they
made a lot of money. They made a lot of
money on social media. They made a lot of money
on social media and on gaming sites and on streaming sites.
That would be true of usan paka right. They've made

(10:20):
a lot of money on sites that are created by
the remnants of capitalism they've been They've made a lot
of money on sites created by private companies. They wouldn't
exist without private companies. YouTube was a venture created by
entrepreneurs and then bought by Google and expanded by Google,
one of those evil monopolists. And you know, gaming, gaming

(10:45):
is unregulated and fairly, you know, a free market rules
apply to it, and people, you know, might make money
and lose money, and they sell games and they provide games.
And the idea being able to stream while gaming. Wow,
that's a market innovation. It came out of the market.

(11:07):
If if the Internet was publicly owned, government owned, sorry,
government own. If these companies were employee owned or owned
by the government, as socialism requires, if the employees owned
all these entities who lives under the illusion that we
would have all this innovation, that we would actually have

(11:29):
YouTube and streaming and gaming and the variety of gaming
and the ability to stream while gaming. If there was
no profit motive, who would be investing? You know, where
would the money come to invest? Wouldn't the powers to
be decided that gaming was incredibly unproductive and disruptive to
young people and actually not invest in gaming. Isn't gaming

(11:53):
just a product of the fact that we live in
a in a you know market, you know, semimalcaty con
to me, where because so many people indulge in these frivolous,
frivolous in quotation rocks activities, money gets invested in it.
Socialism would produce gaming. So yeah, I mean, it's really

(12:18):
amazing to me that you can say with the straight
face the system has failed everybody. It's failing everybody except
me and you, and then be an advocate for socialism
when me and you will become rich because both of
them are rich because of whatever elements of capitalist and whatever,
and some markets still exists in the system. It's just
you know, the I don't think it's hypocracy. I think

(12:41):
it's stupidity. I don't. I mean, I've skimmed through much
of this interview or parts of this interview, and the
one thing that my conclusion about this is Hassan Parker
is not very smart. He's just he's read some marks
and he's got a stick and com plain about the world,
to complain about everything that exists today. But he's not

(13:04):
very smart. He has no real answers that are not
canned answers that he's learned from his Jacob you know,
Jacobite friends, kobea magazine friends. There's just nothing, really, there's
no there there. So let's keep listening.

Speaker 2 (13:22):
Failing either of us. We've done quite well for ourselves,
but it has been a spectacular failure for the average person.

Speaker 1 (13:28):
So the average person, I'm sorry, I have to stop
him every three seconds because these are the kind of
mythology that is so offensive and is dragging down this world.
And it's just so despicable. It's dragged down. It's failing
the average person. The average person in America is failing.
I mean, the average person in America today lives in

(13:49):
a in a you know, has an income that is
dramatically higher than it was thirty forty years ago. Inflation adjusted,
the average person in America today drives lives in a
bigger home than pretty much anybody in the world. Yeah,
anybody in the world. In spite of the cost of housing.

(14:11):
Most Americans live in houses much larger than anybody who
lives in the world. They make more money than almost
anybody makes in the world. It's not as good as
it could be. It's no sound. You can't hear me

(14:31):
one two three, Uh, you can't hear who sound? Audio
cutting in and out? Audio cutting in and out. That's weird.

(14:52):
Why would audio be cutting in and out my audio
or somebody else or the audio playoff the web? I
am cutting in and out. I don't see why the
connection here is great. No streaming issues here. Maybe maybe
it's peaking. It could be peaking. I think it went

(15:13):
red on me. All right, sounds good here. Other people
are saying it's good, So I'm gonna I'm gonna assume
it's good. I can't hear you on I hear you
or you're fine for me. So some of you can't
hear me, and some of you can. And I don't
have an explanation for that. I don't understand why some
would and some would Anyway, I'm gonna get back to

(15:35):
this because obviously it's not a problem that I can control.
If some of you cannot and some of you can't
hear me. I mean, look, there is no question that
the cost of living is high. A lot of people
can't afford homes, you know, mortgage rates are high, and

(15:55):
we've had inflation and inflation a sense of rising prices.
We're going to have more inflation in a sense of
raising prices, and you know, some people are struggling more
than they should. But if you look at the big picture,

(16:16):
if you have any kind of historical context, or any
kind of geographical context, geopolitical context, Americans are doing quite
well relative to other people in other countries, including people
in in more call it more socialist countries. I mean,
everybody raised about Scandinavia, but housing is expensive in Scandinavia,

(16:40):
and people own, you know, just as many homes in
Scandinavia as they do in America. They they are few opportunities,
they make less money, they live in smaller homes. They
write by in the cold in Copenhagen instead of driving

(17:03):
cars because they don't have cause, because cause expensive I mean,
the taxes and cause in denmarka unbelievable. I mean, it's
not like they are thriving by any measure, and Americans
are suffering somehow. It seems to me that American young
people are just I don't know, you know, certainly there's

(17:27):
a lot of frustration in Americas why Donald Trump got elected,
but we really struggling. Is gen Z really in bad shape?
I've shown you graphs showing that gen Z is the
richest generation ever at this point in their lives. So
let's say average gen Z is twenty five years old.

(17:48):
At twenty five the richest generation. No generation at twenty
five was richer than gen Z. So again, what is
it exactly? What is it exactly that is problematic and
and causing people to have this feeling an idea that

(18:10):
the system has failed them. Now, I get it that
things are not as good as they could be and
should be right, all right, let's but then we have
to ask what the cause of that is.

Speaker 2 (18:29):
And therefore people are understandably looking for alternatives. Young people
in particular, especially those who are just coming out of
college or they're just going into college. They look at
the opportunities that they have or rather they don't have
and they realize that the future is great, so they
look for an alternative that at the very least chooses

(18:54):
to identify the problem and also solve it.

Speaker 1 (18:58):
So young people got out of collegies. The future is grim.
It's grim. I mean, I think there's reason to be
worried about the future, particularly if you look at government
debt and things like that. But what is it that
they find grim? What opportunities AI scary? Technology is scary,

(19:21):
you know, I understand that it's not clear what jobs
they're going to have. Housing is expensive, particularly if you
live in the coasts. In the middle of the country,
it's not expensive at all, so one consideration, And of
course the socialists are all in California and in the
East coast because that's housing expensive. Socialists are there, they're

(19:42):
not in the middle. Yeah, if you look at the numbers,
gen Z relative to every other generation is rich. Now
they're not absolutely rich. They're just starting out their lives.
How can they be rich at the beginning of your life?
I mean the problem with gen Z is they expect
them need to just drop from heaven. They expect to
become rich just because they were alive but the reality

(20:06):
is when you're coming out of college, there's a lot
of angst. You don't have any money because you haven't worked. Yeah,
you don't have any money because you haven't produced yet.
You're not sure about the future because you haven't done
anything yet in your life, and you're not you exactly
how things are going to play out. You have very

(20:28):
little experience in spite of going to college. The reality
is that you know very little. But if you actually
look at the numbers at income, at starting salaries, what
they actually earn when they go to work, they make
more money than the previous generations did at their age,

(20:51):
inflation adjusted, and the only thing that has exceeded inflation.
The only things that inflation and medical care, which gen
Z does not have to really worry about. It's more
my generation has to worry about education to a large extent,
that's behind them, not in front of them when they're
gen Z. And housing. So yeah, housing is an issue

(21:14):
if you live in the coasts, not if you live
in the middle of the country. But if you live
in the coast, housing is an issue. Okay, well it
went moved to some way more footable. There are lots
of solutions to that sort of scrapping the system and
hating on the world and claiming the system has failed you,

(21:37):
failed you, And the reality is, yeah, you just finished college.
College was a blast. You did a lot of drinking,
did a lot of party. Maybe you actually studied some
and you learn some skills and you learn some content.
But now you realize coming out of college, now you
realize that real life starts. Real life starts right now.

(22:05):
You actually have to go out there and work. Now
you actually have to go out there and actually produce,
and that's not easy and that's not simple, and nobody's
going to hand you anything on a silver platter. So
that's what makes the future look grim, is that the
fact that you're not You're being on your parents dying

(22:27):
up until now, and suddenly you have to go and
become independent. And most of them are not becoming we're
going to become influencers like us on Pika. Most of
them are actually going to have to get a job.

Speaker 2 (22:41):
Material inequalities, cost of living crisis, not being able to
ever own a home.

Speaker 1 (22:47):
So material inequality, when have we not had material inequality?
Material inequality is no worse today, or not worse larger
today than it ever has cost of living, Yeah, it's expensive,
but way have gone up, so you should be able
to earn enough to cover that and never own a
home never. I mean Americans pretty much sixty two percent

(23:11):
of Americans own homes. That was true twenty years ago,
thirty years ago, forty years ago, fifty years ago. Sixty
two percent of Americans own homes. That number doesn't change dramatically.
It's not like people are losing their homes and nobody's
buying a home. I mean, the housing market is in
trouble right now for a variety of reasons, primarily because

(23:32):
of lack of building and because the interest rates are
relatively high because of government spending. But fundamentally, home ownership
has not changed dramatically over the austraetias. And it's not
like I'm trying to ignore the fact that young people
face issues and face problems. They do all young people do,

(23:54):
every generation of young people does. They're not being shipped
off the war like the Vietnam generation was, or like
the World War two generation was, or like many other
generations in history. They're not facing any economic collapse like
the Great Depression generation was, or those who came to

(24:17):
look for jobs in two thousand and eight, two thousand
and nine. It's stunning to me how detached day off
from the reality of their own situation, and how they've
allowing which is consistent. They're allowing their emotions, their emotions,
how they feel, to basically dictate everything for them. But

(24:40):
that's our educational system, that's what it's done.

Speaker 2 (24:43):
These are very real problems facing younger generations, and of
course they look to an alternative organization of the economy
as one that is probably the best way to go forward.

Speaker 1 (24:55):
So reorganization of the economy towards socialism, because that has
produced wealth and success us and housing and cost low
cost of living and everything. Just look at Venezuela, look
at any socialist country anywhere in the world, and you
find me a place that takes socialism seriously, where the
cost of living is low, home ownership is high, home ownership,

(25:18):
Wait a minute, wait a minute, home ownership. There's no
such thing as home ownership, no such thing as home ownership.
Because socialism, you're not supposed to own your home. It's
supposed to be collectively owned. Shouldn't the government own houses
homes and you could rent them from them.

Speaker 3 (25:43):
So I'm always trying to map things in terms of
where do I want to end up and then what
are the mechanistic steps that can lead you there. So,
if you were to say, what is the way from
the mechanisms that capitalism has failed people, what are the
features of the machine that makes it a sort of
by nature flawed system.

Speaker 2 (26:03):
At its base? At its core? It is this inherent contradiction. Right,
If you are someone who's working as someone who's a
wage labor and I'm sure you've worked a regular job
in your past as well, most people want to work
at least amount of time for the most amount of pay, right,
And that doesn't mean like they're greedy or anything.

Speaker 1 (26:23):
It's just human nature.

Speaker 2 (26:25):
You want to work as little as you possibly can
and get paid as much.

Speaker 1 (26:28):
As you can for that. Is that real? I mean?
I mean, is that the standard? You want to work
as little as you can? I mean maybe this is
gen z as little as you can and maybe get
paid as much as you can. Maybe you want to
get paid as much as you can put our of
your work, but to work as little as you can.
Maybe that's why they can't afford stuff because they're not
working a lot they're trying to squeeze out whatever they can,

(26:51):
but they're not working a lot. Maybe if you embrace
work as a korea. Maybe if you embrace work as
something you're passionate and enjoy and and is is you know,
something of value to you, then you don't try to
work the least amount and you try to maximize your

(27:12):
total income, not just your hourly income.

Speaker 2 (27:14):
On the other side, you have your people that own
the businesses that want to obviously pay you the least
amount that they can possibly pay you for the most
amount of time to get you to work.

Speaker 1 (27:24):
Now, how many how many bosses, how many owners of
companies think in those terms? I want to pay my
employees the least amount I can the least amount I
can get away with. I mean even if they you know,
I don't know anybody who actually thinks that way, And
maybe that is true. I don't know on fast food

(27:46):
joints in places that have a very minimal skill level.
But I want to pay my workers enough money that
they're motivated to produce more that they want to come
to work. I want to pay them to increase their production,

(28:07):
increase their productivity, invest in the job. I want my
workers to be at least somewhat happy. I want to
win win relationship with my workers. I don't want I mean,
this is exactly that zero sum mentality of exploitation that
Mark talks about. That is at the core of what
these kids. They hate the idea that they have to

(28:29):
go to work. Now, Hassan Paka Pika doesn't have to
go to work because he sits playing games and spouting
this nonsense and gets paid by people who actually do
work to spout the nonsense. You want to pay them
the amount that will get them to produce the most value.

(28:51):
And if you don't pay them enough, if you don't
pay them based on how much value they produce, then
they'll go to somebody else. They'll go to somebody else.
To note that, at the core, this is what they're
upset about. This is what they don't like, the idea
that some people get wages and other people get to
own the business. There's the owner, you know, the capitalists

(29:14):
and the worker. This goes back to call Marks. But
this is at the COVID and it's a perceptual level
zero sum mentality. It's a perceptual level labor theory of value.
It's labor it's muscle to create the stuff. They build it.

(29:35):
The iPhone is created by laborers. I saw that posted somewhere.
The iPhone is all the creation of labor of muscle. Really,
I mean, the reality is that labor and muscle have
never created anything new. They've created, They've contributed to the
building of stuff, but they contribute the least amounts. So

(30:08):
what's this. Uh, I don't know what this guy's spouting.
We've got, all right, I guess they're having debates on

(30:28):
my chat unrelated all right, uh so just a little
bit more. I don't wanna. I don't wanna.

Speaker 2 (30:33):
So these these two things, when broken down, Carl Marx says,
is the inherent contradiction of class. You have the wage
laborers on the one side, and you have the bosses
on the other side, or those who work for your
capital owners.

Speaker 1 (30:48):
On the other side. I mean, think about the world
in which we live today. Do you really have classes
in that sense? Yes, they're wage uners and people who
work for the bosses who are wage earners as well.
By the way, most middle managers a wage, most upper
managers earn a wage. It's such a superficial, uninteresting division

(31:18):
of I don't know division of classes. The interests are
not aligned. They don't both benefit if productivity goes up,
if profits go up, well, of course they do. And
this is where they just can't see the win win

(31:38):
nature of these kind of transactions.

Speaker 2 (31:41):
And that is the reason why there is so much
tremendous wealth inequality. At least according to Karl Marx, I
happen to agree with what times that I would get
why so you said that, all right.

Speaker 1 (31:54):
We're gonna cut it, damn. But you know, there's a
lot of there's a lot of good stuff in this
that you know, maybe on a future show we can
go into, we can continue this, but I just don't
want to spend more than what we've spent on this.
But even at the very basic, very simple, very facts

(32:15):
oriented stuff, you know, I'll just i'll just whoops, what
is going on here? Everything's behaving weirdly for me once again,
closed window. All right, that's fine, it's just just the
basic facts. Off the basic facts. So and then what's

(32:41):
really driving them is zero sum mentality, hostility towards self interest,
and just an intellectual real intellectual laziness that involves being
stuck at the perceptual level, and never really understanding how
the world actually works, and never bothering to investigate what

(33:06):
is actually going on in the world out there, all right,
talk about socialism. Colombia, the country Colombia has a quite
a left wing president, first left winger ever to be
elected president in Colombia. And one of the things this

(33:26):
left wing president wants to do is he is trying
to pass healthcare reform. They would basically dramatically increase the
world of government in providing healthcare in Colombia. Luckily, for Colombia,
the Parliament is not dominated by the left wing, so

(33:48):
he doesn't have a control a controlling position in the parliament,
and as a consequence, Parliament is holding up his health
care reform. They're objecting to his attempt to basically nationalize healthcare.

(34:09):
It turns out that in Colombia about ninety percent of
medical services are currently carried out by private companies. Now,
the government pays for most of it through a private
insurance system. So there's private insurance, well by private insurance,

(34:30):
but I guess the government pays the private insurance companies.
It backs it all up, you know, in some way,
and ultimately the government is paying for healthcare while the
healthcare is being delivered by private entity. So far from
being ideal, but you know, very much like medicare in

(34:51):
the United States. I mean, the reality is that almost
all the healthcare you get in the US is provided
to you by private individuals, by by you know, by
private private doctors, private hospitals, private clinics, private imaging labs,
and so on, but that the payment for it often

(35:13):
comes from the government. The reality is that the government
pays well over fifty percent of all healthcare costs in
the United States, and often the funding that the government
provides is funneled through the private insurance companies. And this
is it looks like Colombia has a similar system. So

(35:35):
here you've got a president trying to pass this law
to basically nationalize I guess healthcare in Columbia, to move
it towards socialized medicine. And he's failing. So what is
he So what's he doing instead? Basically, what the government

(35:59):
is therefore trying to do because it can't get its
legislation passed, is it's trying to destroy the private insurance market.
It's trying to get rid of private insurance companies. How
is it doing that by not paying them, by not
paying them, So the private health insurance insurance a claiming

(36:23):
that the Columbia administration the regime there is transferring less
per user than required by law and haven't paid with
accumulated that's going, you know, above two point two billion dollars. Now,
of course the administration is denying all of this. But

(36:45):
the effect of this is I think what the government
hopes is that insurance companies will collapse, and as insurance
companies collapse, twive individuals who have insurance with these companies
are then moved into the public system. And as insurance
insurance companies go away, more people now become dependent totally

(37:08):
on the public system. And this is how you socialize
healthcare without actually having legislation passed that socializes healthcare. You
just destroy the private market and you make the socialized
market the only game in town, the only alternative that exists.

(37:31):
It's a clever way, I guess to do it. I mean,
think about you know, there's a there's a sense in
which that is happened. That is happening and I think
will intensify in the United States. I think that as
you regulate insurance companies more and more and more, you
make them less and less profitable. You make it more
and more difficult to do business. You know, more and

(37:53):
more insurance companies raise their prices or exit the market,
so that now you have very few plays in the
insurance markets. Many states they have very few insurance companies
that are in those markets because they've been so heavily regulated.
It's not profitable for them to be in those markets.
Because there's so few insurance companies, they raise their prices,

(38:15):
people can't afford it, and the state comes in and says,
see people uninsured. We need Obamacare, we need socialized medicine,
we need Medicare for all. This is how you set
the system up for ultimately nationalization. I don't think in
America it's done consciously, at least not by everybody. Might

(38:36):
be done by some people consciously, but the effect is
the same as what's going on. What's going on in Colombia. So, yeah,
you know, this socialist, this leftist leader, Petro who is

(38:57):
the president of Columbia elected into a two promising transformational changes.
But when he tries to pursue those transformational changes, he
gets blocked because the people don't actually want them. In
a speech he game at the United Nations in New
York in twenty twenty two, he blended capitalism for climate change,

(39:20):
saying that it can lead to the destruction of humanity.
So he is a leftist, a hate of capitalism and
using scare tactics. So you're seeing that in order to

(39:42):
bring about socialism, they're willing to bring about a significant
destruction of the private sector and then again make the
government the only alternative. Imagine if education in America was private,
but you wanted to nationalize it, you would regulate the
private occasional system to death, and you would squeeze it

(40:04):
everywhere you could, and you would make it so that
the private schools would go bankrupt and everybody would have
to go to the public schools, and that would elevate
the public schools. So we will see so far, the

(40:24):
political party that has kind of control over Congress is
the party of former President of our Uribate. Uribay is
definitely a pro market guy. Relatively speaking, He's one of
the probably the better presidents Columbia's had tried to move
it too pro markets. I met you Rebay a couple
of times. We actually did a seminar together he's an

(40:46):
interesting guy, you know, but generally leans more towards markets
and certainly not a socialist. Uibus party opposes the bill
that would basically eliminate the world of private insurers, but
it seems like he did agree to compromise with the presidents.

(41:11):
So this is the problem that even the advocates of
a little bit more freedom are often the ones who
compromise with the left and compromise with the socialists, so
they get more and more and more power and more
and more and more control. Anyway, as we said, I
think that in future elections we're going to see slowly

(41:32):
a move away from away from socialism in Latin America
and a move towards more right wing, conservative and in
some cases free market political parties throughout the area, partially
in response or partially inspired by the success of me Lay,

(41:55):
and partially inspired by the complete another failure of the
leftist parties all over Latin America to achieve anything other
than poverty and destruction. It is worth notings, just if
we're talking about Columbia, that one of the leading candidates
for president in the next election, probably I think it's

(42:17):
next year, was also called Yuribate not related to that. Yuribate.
He was young, a young congressman of the kind of
center right, and he was killed. Nobody knows exactly who
killed him, but he was killed recently. He was shot
at a campaign rally and was in a coma for
a while and they tried to save his life and

(42:39):
he died I think late last week. So Columbia politics
is messy and violent and right now it's hard to
tell where things are heading. But Bolivia, as we talked
about the other day, Bolivia has turned its back on
the left and is embraced at least into center right candidates,

(43:02):
and it'll be interesting to see who wins and whether
they can turn around the believe in the economy that's
basically stagnated for the twenty years that the socialists have
ruled it. Talk about socialism and statism, but not in
Latin America. Let's talk about it in America. In the
United States of America. We've talked about this a little bit.

(43:23):
We talked about the fact that the Trump administration is
seeking a ten percent steak in Intel. You know, Intel
just got a two billion dollar investment by a Japanese investor,
soft Bank. Soft Bank has just made a two billion

(43:45):
dollar investment in Intel. I think the soft backs investment
is probably in anticipation of the fact that the United
States might take a ten percent steak in Intel. The
ten stake in Intel will probably be through loan forgiveness.
Intel has received all kinds of grants and loans, very

(44:05):
favorable loans from the government under the Biden administration, and
the consequence is that they're really struggling. They're losing a
huge amount of money, they're laying off people. They can't
pay back those loans. Everybody really knows that, and I
think the solution that Trump has come up with is
instead of paying back the loans, just give us ten
percent of Intel. You know, Intel is supposed to be

(44:33):
the flagship American chip manufacturer. The reality is that in
Nvidia is now the flag chip manufacturer in America, even
though in Nvidia doesn't manufacture any chips, it just designs them.
There are few I think there's one or two companies
that actually manufacture chips in the United States. But the

(44:53):
United States is not competitive, not with the cutting edge
most advanced chips. And Intel's mistake has been to try
to manufacture and design and they're not world classity the
one of those because they lack focus. The industry over
the last fifteen years has specialized division of labor. Remember

(45:18):
that principle in economics. They've specialized with some company specializing
in design, like Nvidia, Apple. Apple designs its own chips.
It doesn't build them, it doesn't make them. Because the
people specializing in building the chips, in manufacturing the chips
and actually doing you know, doing whatever you do to

(45:40):
the silicon to make it a chip. That's TSMC and
that's Samsung. American companies are not good at that. The
only game in town, and manufacturing almost suddenly the most advanced.
We got AMD, You've got You've got Apple. I think

(46:02):
meta now is designing the old chips. I mean, microchip
design is something that American companies have become a spectacular ad.
It's very competitive and there a lot of companies engaged
in at the startupstead of designing chips, manufacturing chips less profitable,
smaller margins, requiring massive capital expenditures, needs to be done

(46:25):
at scale. And it's what TSMC understood and why TSMC
is such a huge success in Taiwan. So, you know,
instead of recognizing this, instead of Intel recognizing this spilling
itself up, maybe into a design company and a manufacturing company,
or how about just shutting down its manufacturing company and

(46:46):
just specializing and focusing on design. Intel refused to do
that and has dragged its feet. And only reason Intel
is surviving right now and has any prospects for survival
is the fact that during the Biden administration, the former
CEO of Intel, instead of restructuring the company along rational

(47:10):
productive lines, instead spent his time labbying the Biden administration
to get subsidies from the Chips Act. And indeed, did
you know Intel received from the Biden administration up to
eight point five billion dollars in there of grant funny

(47:32):
and eleven billion in low cost loans, And of course,
because this came from the Bide administration, it came with
all kinds of strings attached. So you know, Intel invested
some of that money in expanded child care for its workers.
And yet we see no progress on the Intel becoming

(47:55):
more profitable, on Intel improving its manufacturing, on Intel figuring
out how to become profitable and how to compete with
the tsem c's and the NVIDIAs of the world. Now,
most of Intel's of what hasn't yet been distributed because
the company is not expanding, it's not doing what it
promised to do, it's not building. It lost eighteen point

(48:20):
eight billion dollars last year and three point eight billion
during the first six months of this year. Not financially sustainable.
They cut fifteen thousand jobs last year. They'll cut twenty
thousand jobs this year. The spinning up businesses, but they

(48:41):
won't do the kind of deeply structuring they need to do,
partially because once they got this government subsidies, the government
subsidies kind of restricted them in terms of this is
the business model now. I imagine if Trump takes a
ten or sorry, the US government takes a ten percent
stake in Intel, well, then Intel becomes Intel becomes to

(49:06):
be to fail. Intel becomes a company that is never
allowed to fail. Intel becomes stagnant, static, It's not going
to innovate, it's not going to be structured. It's not
going to do the kind of things that might be
able to save Intel. It'll die a slow death, just
like Amtrak. I mean, the idea that somehow the US

(49:32):
government investing in Intel will save Intel shows a complete
ignorance of how government ownership actually works. Governed ownership will
load intel up with bureaucratic requirements and will make them
unproductive and lazy, knowing they can always get a bail

(49:53):
out if they fail, they won't make the tough choices
that they need to make an order to survive. So
and this is the capitalism that supposedly is failing, gen Z.
That's the thing that really is mind boggling. Right, what
are we talking about. There is no capitalism. This isn't capitalism.

(50:14):
This is socialism or economic fascism, or I want you
you want to call it. But now the government is
actually owning the means of production. So maybe maybe this
is actually socialism. Socialists are getting their way. I don't
know what's happening with the audio. Some of you losing
audio again. I think it really just refreshed the screen,

(50:37):
because I don't think there's anything I can do anything
about it. It must be a YouTube problem, so it requires
just refreshing. All right. Yeah, let me just say a
few a few things about yesterday, about the Europeans and

(50:59):
the meeting at the White House with Trump and all
of that. I talked about this yesterday. I just want
to say you know, everything I've read since then just
reaffirms the fact that this is grand theater, that there's
no content here, there's no there's nothing actually being done here.

(51:19):
The reality is that the gap between Putin and Zelenski
is massive. There is no compromise that can bridge that gap,
and indeed Putin has shown zero interest in compromising. And
yet everybody is acting like something was achieved yesterday. Everybody's

(51:42):
acting like, wow, Trump really moved us forward. Everybody's acting
like it's imminent that Putin and Zolensky are going to
meet and that something good would come of that meeting.
I mean, it is all it really is all theater,
and I'm seeing the media play along. I mean, and
all these European leaders are sucking up to Trump. I

(52:05):
mean that's the whole goal of being there, the whole
purpose of coming, well to protect Vilensky, but to suck
up to Trump. And since the meeting, they all go
on out there and sucking them to Trump. Now they
contradict Trump, but they do it gently, and they do
it in a friendly way. I mean they know, deep down,
or maybe even at the surface, they know that this

(52:28):
is all theater, and this means nothing. This is Trump theater.
The only person this means anything to is Trump. Putin
knows its theater. Putin knows nothing is going to come
of this. And yeah, I mean maybe it's I thought
I did this already. I could be there was. The

(52:51):
volume was just spiking and the YouTube cuts it off
because it's spiking. So I'll I've adjusted it a little bit.
Tell me if this is better and if it stops,
if it stops going out. But some of you think
that this is I mean, nobody ever talked about putting

(53:11):
US troops on the grounds of Trump ruling out US
troops is meaningless because nobody's ever advocated for putting US
troops there. Security guarantees a meaningless because there's no deal.
The only relevance of security guarantees is if there's a deal,

(53:32):
and there's just I just it's mind boggling to me.
And people are like my feed on Twitter, and if
you look at the mainstream media, it's just dominated by
non news, by the fact that nothing happened. I mean,
Trump called Putin after the meeting and said you needed

(53:54):
me to Zelenski, and Putin said, yeah, okay, maybe i'l
see no commitment nothing has happened, nothing will happen. There
was just there was pretty much close to zero prospects
for a deal before Trump met with Putin in Alaska,
and there's still exactly the same probability right now for

(54:16):
a peace deal after. And maybe this is all moved
Trump to be more sympathetic to Ukraine, maybe until he
meets Putin again, or at least until he talks to
him on the phone again. He seemed pretty friendly with
European European leaders, but again there's no content, and it's

(54:39):
stunning to me and how seriously everybody's taking what's going
on now when there's just nothing going on. It's, as
I said yesterday, pure theater, meaningless, nothing's changed. In the meantime,
people are fighting and dying and taking wounds and getting

(55:01):
maimed and just struggling to survive in Ukraine because of
Russian aggression against them that is one hundred percent unjustified.
It is Putin's evil that is placing their lives of
Ukrainians at risk for no no reason, nothing to be achieved,

(55:23):
and it truly is, you know, a horrific war that
Trump is doing zero to solved and is actually because
he's he's still not open up fully the spigettive weapons
flow to Ukraine. Ukraine is not saying well, buy them

(55:44):
all the Europeans will buy them for us. You don't
have to. It's no tax money, no American tax money.
Just you know, we want we need ten Patriot missile batteries.
Can you We'll buy them. We'll pick cash. If the
Unity they just allowed itself to just sell the weapons
to Ukraine that Ukraine needs, that's all that's necessary. And

(56:08):
if Eupeans get to act together and they provide Ukraine
with the weapons they need, then Ukraine can defend itself
and fight the war itself. The reality is that Trump
is doing nothing. He's causing damage. He's not doing any
good with this theater. That creates a false expectation that
somehow peace can be achieved here when the two parties

(56:30):
are so so far away from achieving peace. In the meantime,
Trump is losing and we America are losing on the
geopolitical landscape. I mean, Trump's tariff insanity has alienated many

(56:51):
of our allies. And if you believe Trump and the
Trump A demonstration, and there's some reason to think this
is true, that the number one national security issues China.
Then the last people you want to alienate right now
are the people who you will need if you ever
get into confrontation with China, South Korea, Japan, Taiwan, maybe

(57:16):
the Philippines and Vietnam, and certainly India. And yet Trump,
through is just ridiculous, stupid tariff policies and just general
attitude towards forign policy, has done everything he can to
alienate exactly these countries that you would think would form
the basis for an alliance to stand up to China.

(57:42):
And the consequence of this, particularly if the way he's
treated India, you know, is alienated. Who is India should
be a close ally of the United States. India has
very much similar interests in the United States in that
part of Asia. Instead of you know, creating close the

(58:02):
relationship with India, instead of building on that relationship, increasing trade,
building on trade to create ultimately a national security alliance
with India to face off against ultimately to face off
against the Chinese. Instead of that, we have antagonized them,
alienated them. Taking the side of the pakistanis when you know,

(58:24):
Pakistan is far less likely to be a true ally
to the United States than India is it's just bind buggling.
How ridiculous, how bad the United States is positioning itself
geopolitically in Asia, given the potential threat to China poses

(58:47):
and the consequence of this is clear, the consequence of
the China that India is moving much close to to China.
India is basically saying, yeah, I mean, we don't want
an alliance with the United States, can't rely on them.
They stabby in the back. They don't really want trade,
they want to bully us. They've teamed up with our enemy,

(59:12):
the Slamists in Islama bud in Pakistan. We don't want
Why should we align with the United States. I mean,
it's better to figure out how to cut a deal
with China. So you're seeing, and this is true by
the way of South Korea. After their negotiations for this

(59:33):
trade deal with the United States, the President of South
Korea immediately goes to China to schmooze with she. The
same thing I think is gonna happen with Japan. Japan
and China are going to go closer because of Trump's
alienating Japanese. And here you get right now, you know,
the Indians and Chinese getting closer, even though they have

(59:56):
a disputed border, They're getting closer. They're in deep talks
on how to how to form a much closer alliance,
how to increase trade and even maybe have a closer
relationship between China, India, and Russia. I mean, everything that

(01:00:21):
we're seeing right now on the world stage really does
bring home the notion that not only doesn't Trump do
five D chess, he can't from a geopolitical perspective, from
a state of the world perspective, he can't even do
one D chess. He's just not capable of thinking strategically.

(01:00:45):
And as a consequence, we're losing. We're losing allies and
and and we're strengthening our enemies. All Right, finally I
saw this chart. I thought this chart was really cool,
so I thought I shared with you. Let's see I

(01:01:06):
can do this. Yeah, there we go. This is a
chart of the amount of money spent on lobbying a year.
So this is K Street, Coffers is K Street is
the street of lobbies, and this is the amount of

(01:01:27):
money spent. This is total value of Q two tariff lobbying.
This is just lobbying for tariffs by contractors. How much
have law firms and others been lobbying brought in income
for lobbying with regard to tariffs, So there's been an

(01:01:47):
eight hundred and thirty four percent increase eight hundred and
thirty four percent increase in tariff lobbyist revenue compared to
the pre Trump levels. A five hundred and ninety nine
percent increase in tariff lobbyist revenue this year compared to
last year at two hundred and thirty three percent increase
in registered tariff lobbying disclosures in Q two twenty twenty

(01:02:12):
five compared to Q two twenty twenty four. One hundred
and ten percent increase in average terraff lobbing in Q
two twenty twenty five compareditor Oh, this is average terror
flobbing contracts. The other one was disclosures. In other words,
terraflobbing has gone through the roof. This is the guy

(01:02:34):
who promised to drain the swamp. These lobbyists are the swamp,
and he promised to get rid of them, drain them.
They are the swamp animals, and instead they are more
swamp animals than ever gone through the roof. And this

(01:02:55):
is the point the more government intervenes, the more governant
it's involved in the economy, the more government is managing controlling.
The more complexity you add to the tax system, and
remember tarrats are just taxes. The more lobbying there will be,

(01:03:17):
so ten percent stakeing Intel, golden share in US steel,
all of these will only increase lobbying. Tariffs tasa that
are very very complex and bizarre and uh, with all
kinds of terraft schedules and you know, thousands and thousands

(01:03:39):
and thousands of goods. Oh, that that just increases lobbyists
are going to try to get exclusions, exemptions, change the
rate of lobb of rates, I mean, and this is
just beginning. This is the only increase as we go forward,

(01:04:09):
all right, mhm h oh what was they what was
they looking at? Once said, uh, yeah, this is kind
of funny again relating to the to the war. Uh

(01:04:32):
this is from a report from what was going on
in the White House. Uh. Some quoting for this at
the White House On Mondays, Lenskin Europeans likened giving away
the remainder of dun Esque region to Trump giving They
likened it to Trump giving away eastern Florida. According to

(01:04:52):
two people familiar with the matter. They added that the
US president was struck by the analogy. The guy is,
he's not smart, to put it mildly, So you have
to draw maps to him and say, look, you know
it's a piece of Ukraine. It is it's part of
our country. Would you give up part of Florida where

(01:05:16):
you live too, Russia to Mexico? Just why would you
do that? So you have to you have to conquatize
it for him. You have to, you have to draw
the picture for him, because he otherwise doesn't really get it.
You know, it's hard. It's hard for him. You know,
I sympathize. I don't sympathize. I guess I realize. I

(01:05:41):
realize how difficult this is. All right, that is the
news for August nineteenth, and we will move now to
our super chat section, and you're invited to come and
ask questions and participate in the in the super chat.
Feel free to do so. We are we've covered the

(01:06:05):
first hour goal, which is good because we've just slipped
into the second hour, but please feel free to cover
our second hour goal. You know, it's two hundred and
fifty dollars an hour, and we're definitely into the second hour,
So please consider supporting the show. This is show that
is made possible through the support from you. Couldn't do

(01:06:25):
it without you. So we don't have a lot of
questions today, so if you want to keep the show going,
I've got at least until the top of this hour
coming with new questions. You can also support the show
with stickers. I will remind you we have three sponsors

(01:06:47):
for the show. One of them is the Iron Institute.
The Iron Institute right now is promoting the Iron Institute Live,
which are courses classes that you can take from the
Iran Institute. Anybody can take them. You just have to
pay their tuition fee. But you can participate live or
you can take them recorded. You can do homework and

(01:07:08):
get it comments on their homework or not do homework.
A very flexible, incredible flexibility for the first time everybody
can attend and some terrific classes. I will be teaching
a class next year on capitalism, so you'll be able
to attend that. You can register now for the classes
being offered for the fall and you can find out

(01:07:30):
about those classes and you can register at einran dot
org slash dot here you can also get a discount
a ten percent discount because you'll listening to your round
book show special discount for your on book show listeners.
Or you have to do is when you sign up,
put in the code twenty five it's the year twenty
five ybs ten twenty five ybs ten. Ol Chepstigin is

(01:07:56):
a sponsor of the show The Best Thinker out There
on all Things Energy and all things all things climate change.
And you should be reading a regular reader of Alex
Alex's substack for information that are so relevant today. I mean,

(01:08:18):
I'm sure you get into discussions with family and and
with co workers about issues relating to climate change and
issues related to fossil fuels. Alex will provide you with
the talking points. Alex will provide you with knowledge that
is invaluable and you can't really get anywhere else. So
check it out Alex Epstein dot substack dot com. And finally,
Hendershot Wealth hnder Shot with two Tea's wealth hender Shot

(01:08:41):
just like it sounds to teaswealth dot com slash ybs
where you can find information about the product that they
have now that really is there to shield you from
or to shield you from capital gains taxes. You know,
if you sit on a large portfolio of stock that
is appreciated, or particular stock that is appreciated. Let's say

(01:09:05):
you're an employee in video and you've made a lot
of money off of the stock, but if you sell it,
you're gonna have to pay a lot of capital gains taxes. Well,
Hendershot Wealth has some solutions for that. There's some ways
to get it to at least defer that dramatically into
the future. Check them out hander shot wealth dot com,

(01:09:26):
slash ybs. But also check out the video I did
with with Robert Handershot that's on my YouTube channel and
that is in the playlist under sponsors and to get
more information about what this product is and does it
apply to you. All right, let's jump in with some

(01:09:46):
of the some of the questions. Shazbat says Ben Shapiro
just for at least the video titled could Trump's master
stroke in the Russia Ukraine War? Well, I mean if
if if from Ben Shapiro is honest, or if he's
if he still has a brain cells and he's still
thinking for himself, then yeah, that'll be a short video

(01:10:09):
because they answer will be no what is a master stroke?
What was achieved here? What did he get? How's this
going to end? Did he just get Zelensky and the
Europeans to agree to give up don Bas? Did Trump
get Putin to agree to retreat from the Donbas, or

(01:10:34):
to agree not to take the don Bas, or to
give back other territory in Ukraine. None of that has happened.
They haven't even agreed really that there's anything really to negotiate. Yes,
there's a lot of talk about security guarantees, a lot
of talk about security guarantees, but security guarantees after a
deal is struck. But what is the deal? And why

(01:10:58):
not just accept Ukraine into NATO as a security guarantee?
Why are these weaker security guarantees being offered? I mean,
it's sad to see Ben Shapiro, who I think knows better,
devolve into this nonsense. But yeah, I'm just looking through

(01:11:25):
the question and see if there are any others on
this so we can get this out of the way. Yeah,
An says, wasn't Europe. Wasn't Europe supposed to come here
to scold Trump?

Speaker 2 (01:11:34):
No?

Speaker 1 (01:11:34):
I never said that. You should actually go back and
watch what I said. They came to shield Zelensky from
Trump's scolding, and they achieved that. Trump was incredibly nice
to Zelensky, not because he's nice, but because all the
Euppns showed up. He values that. And they coached the

(01:11:57):
Linsk and how to behave towards Trump. They came because
they know this is Trump theatre, and they know how
to play Trump's theater. They figured it out. The last
NATO meeting. Trump was really really happy because finally the
Europeans had figured out how to deal with him, how
to suck up to him, how to play to his ego.

(01:12:20):
They won't here to skull Trump. They were here to
protect Telanski and that's exactly what I said. And they succeeded,
because numbers matter when it comes to Trump, and prestige matter.
He really likes some of these guys. He likes Maloney,
he likes the guy, the Finnish president. I mean, he
was very warm and respectful towards him, and he complimented

(01:12:42):
him in all kinds of ways. And they know how
to play him route the guy who heads up NATO,
who called him daddy. He loved that, right. Trump loved that.
So Ruta was there so that Trump wouldn't with Ruta
in the room go ballistic on Zolinsky, and then they

(01:13:03):
coached Zelinsky. So again I never said that they were
going to scold Trump, and they did. By the way,
if you actually listen a little bit between the lines,
so Mertz of Germany says, and you saw this, so
you can actually find you can find the video of this.

(01:13:25):
He says, we need a cease fire. Trump just said,
we don't need a ceasefire, we need a resultant that says, no, no, no,
we actually need a cease fire. We're not going to
achieve anything without a ceasefire before negotiations starts. We want
to cease fire. And Trump is right because Trump was
advocated for ceasefire until Putin kind of twisted his arm

(01:13:46):
and got him to walk away from that. And a
number of them contradicted Trump, but they did it in.

Speaker 4 (01:13:54):
A friendly way, with a smile, penning him on the back,
telling him how wonderful he is, telling him how great
of an achievement it was for him to meet with Putin,
telling him all this stuff in order to.

Speaker 1 (01:14:05):
Soften him up. And that was their job there. Their
job was there to make Trump soft, and they were really,
really afraid that if Zelindi Zelensky showed up again alone,
he would be ganged up on notice. Jd Vance was quiet.
Didn't get anything for jd Vance, none of his bullying

(01:14:29):
the way he went after Zelensky the first time. So
everything that I said would happen happened. So you can
twist it and uh and and and and and misrepresent
what I actually said. But this is exactly what I said.
What happened during this meetings has actually happened. And as
we watch into the future, my guess is I will

(01:14:52):
be right again. That is, nothing won't come over this
in terms of peace and ben Yeah, it's sad, all right.
Let me thank some of the people who gave stickers.
Roland thank you, Jason, thank you, Jeffrey, thank you. You

(01:15:12):
two can just do a sticker. You don't have to
ask a question and support the show that way. Augustinos,
thank you. Oops, what happened here, Servanos right at the beginning.
Thank you, Savanna's for fail thank you, and Gail thank you,
and Mary Eleene, Mary Eleine, and I think we're good.

(01:15:35):
I think I thanked everybody. Hopefully I didn't miss anybody,
but I think I thanked everybody. All right, Remo asks,
what says, ask, are you going to see very tasked
by Raphael Monetti at the Music Almeda now that you're
in Lisbon. Yes, I think we're going to that museum tomorrow.
So I think we're going to see that tomorrow. Yesterday

(01:15:56):
we're into another museum with a lot of Portuguese from
the sixteenth century and seventeenth century, and quite impressed by
the Portuguese artists of that period, influenced both by the
Italian Renaissance obviously, but also by the by the Flemish artists.
So you get a lot of details, you get a
lot of I mean, it was really interesting to see

(01:16:18):
kind of the different influences on Portuguese art. Surprising. I didn't.
I didn't expect much. I expect a lot less, Remo.
I just finished reading them all Case for Finance by
you and Don Watkins. It was great. Thanks for the value. Yeah,
I appreciate I appreciate your comment. Thank you for reading it,

(01:16:41):
Thank you for I'm glad you enjoyed it. Neil, watching
your courses on JP on Jordan Peterson, I think the
only thing missing is the passionate tone you usually have
in your past lectures courses. Hm, really you think it's missing.

(01:17:01):
I'm curious as why that is. I think partially because
it's teaching. It's not lecturing. I'm not there to preach
in a sense. I'm not there to try to convince.
It's more of a it's more at a teaching tone,
So I think that's part of it. It's not like
an advocacy lecture that you're giving. I think that's what's missing.

(01:17:28):
Hopefully it's interesting and passionate enough to keep people's attention
for the whole nine hours of these courses that these
courses take. And now there three more coming, so I'm
going to have five on that platform, which is a lot,
you know. I think only Jordan Peterson and maybe one
or two other people have that many courses on the platform.

(01:17:51):
Jonathan Free markets out. Even on conservative media, there's zero
appetite or even lip service to capitalism. Have you seen
this in your career? No, because there was the right
always gaves lip service to capitalism. So I don't remember
ever a time where the right, where the Republicans called

(01:18:14):
them the Republicans, turned so dramatically against capitalism, where nobody
even gives it lip service where the right wing media
poo poo's it where everybody's a statist. And I think
that's and I warned about this, didn't I want about this,
Didn't I say? This is what Trump was doing. He
was evisuating whatever was left of any kind of free

(01:18:36):
market sentiment on the right. You saw some of this
in twenty sixteen to twenty twenty, but now it's just dominant.
It's just dominant. So Trump is basically eliminated capitalism as
a topic, as an issue, and everybody, everybody now on

(01:18:56):
the left was always a statist, and now everybody on
the right status as well. And there's just no opposition party.
And again, this is what I said. I said there
would be no opposition party, that if Republicans went this direction,
there'd be no voice for even a semblance of free markets.

(01:19:21):
But yeah, I mean, it's the worst it's ever been.
And you'd expect that things only get worse unless they
get significantly better. And getting significantly better requires an intellectual revolution.
And what we've seen in America is not an intellectual revolution.
We've seen an anti intellectual revolution on the rights. We've

(01:19:43):
seen the right go super anti intellectual, super emotionalist, supernationalists,
super anti capitalist. As a Terry Dicotomy says, hey're right,
I try to and Tom bill you to invite you.
He expressed interest in Rand on a stream Bill you

(01:20:06):
sold a one billion dollar company? Could be cool. Yeah,
I mean i'd I'd love to go on a show.
Did he respond when you suggest that he had me on?
I mean it would be I'd love to go on
a show. I find the way he debated the socialism guy,

(01:20:30):
I mean he didn't really debate him, and they were
just talking on two different tracks that weren't combined. And
I think he was buying into a lot of his complaining,
which is unfortunate. Tom makes a big deal out of
the FED and money printing and all of that, which
is all true, but it's not enough. You have to
understand what else is going on and why it's happening,

(01:20:52):
and you have to be able to defend the good
in our culture, in our world. But yeah, I'd love
to be on a show if you can. If people
can go on that channel and encourage him to have
me on, that would be fantastic. It's sad, Yeah, it's sad.
How prominent the socialist, how well the socialists are doing

(01:21:15):
getting on all these shows, and how hard it is
for somebody who stands for capitalism in America today. It's
almost impossible. Augustina says, capitalism isn't failing people. It's all
the social programs in the mixed economy that is failing. Yeah,
the socialism is failing. What's failing today is the regulations,
the zoning, the controls, the government controls of everything. That's

(01:21:39):
what's failing. That is what is failing people's lives. I mean,
we talked about the myth of, for example, housing prices
being high because of private equity. I mean, that is
such a bogus claim. Indeed, the data shows that housing
owned by corporations, that is, big companies that own a

(01:22:02):
lot of houses, rents are lower than other houses. Maintenance
is better, tenants are treated better then, which is what
most rental housing is.

Speaker 4 (01:22:17):
Is is.

Speaker 1 (01:22:19):
Small, you know, relatively smaller owners of single family homes.
You know, let's say somebody like you or me buy
one to five homes and they rent them out, rents
tend to be higher, and maintenance lower, and quality and
treatment of tenants lower. So it's actually the fact that
private equity being in houses is actually improving, improving affordability

(01:22:46):
at least in the rental market. And private equity is
not going to pay overpaid. They're not going to pay
above market prices. They pay above market prices to buy homes,
so they're not what's driving up prices their homes. Wolds
City empty. The whole idea, the anti anti capitalist supposed

(01:23:13):
the idea, you know, blame financial markets for house prices
being high. Do you want to blame anybody blame local
governments for restricting building? It's wife example, housing prices have
now gone up in Houston, Texas. Houston is very affordable
for people. Much in Dallas area is very affordable. Why

(01:23:39):
because there's no limit to the number of houses being
built and they for supplies matching demand and therefore prices
have never gone up a lot and it's very affordable.
Even Austin prices have come down after the spike during COVID.
The spike was there because there was unexpected demand. It
to go off a supply to catch up, and supply

(01:24:00):
caught up. Prices came down. It's only in place like
California and other Western states including Denver and other places
where they were restricting to go through housing. If you
use strict construction, if you have a strict supply, prices
will go up. It's basic economics. It's very simple. You
can deny it all you want, but it's very simple.

(01:24:21):
Just ask me Late he'll explain it to you. Ryan.
The future is grimmed to young people because they have
to work hard. They see the wealth our generation built
and figured it was a cake walk. Yeah. They look
at older people and they say, how come they have
a lot of money. Well, because they worked out for it.
I had nothing when I came out of college, literally nothing.

(01:24:43):
I mean I didn't and I didn't get out of
college until I was thirty. I mean I finally got
out of college in I was thirty two. And I
had nothing until I was thirty two. And then when
I was at thirty two and got my first job,
I already had two kids. Said nothing and had two kids,
and I don't know. Somehow managed And I don't look
back at those years as ooh, those are terrible years.

Speaker 4 (01:25:06):
No.

Speaker 1 (01:25:07):
I was a student, I took kids, I worked hard
and made a little bit of money. We fed the kids,
We took care of the kids. We had a little apartment.
We grew you know, and then I got a job
and I made I don't know what was my first
sixty two thousand dollars. I thought I was a billionaire,
which led me to ultimately, you know, get into debt.

(01:25:28):
And I lived in debt until I probably didn't have
a positive net worth until I was in my late thirties,
probably till I was thirty eight thirty nine. That's when
I had a positive networth. What are these kids complaining about?

(01:25:57):
All right, Ryan, Yes, I agree with you, Bryan. All right,
there's the chechtomy. Half my work, half half my co
workers in Monday. Is it Friday yet? Half my Yeah,
on Monday. This is said literally every Monday as a

(01:26:18):
joke by multiple people. It is annoying. Makes me cringe.
I agree with you. It's horrible. It's people not taking
their life seriously. It's people not taking their career or
they work seriously. And uh, it's people who will will
suffer as a consequence. Jago in the chat says, I'm
one of the guys talk to you here in Portugal.

(01:26:40):
I think this is about some pika. He says, see
his terrorist stuff almost look like he's recruiting. And he's
not just a socialist. He kind of admitted he is
a Marxist Leninist, trying to catch them young. Yeah, I
mean this sun Poker is not smart. He's a wealthy

(01:27:00):
dude who's made his money on online, you know, because
of the success of private companies that have made it
possible for him to earn a living just you know,
spouting his evil ideas online. He doesn't strike me as
particularly smart. And you know, he's read some Marks and
he's read some Lenin and he's and he hates Israel.

(01:27:29):
He doesn't strike me as an he's Slamist himself. But
he hates the West. He hates capitalism. He doesn't really
hate the West because he lives in it and he
thris you know, he succeeds financially in it, in his
life depends on it. But he projects hatred. He projects
hates it. O Tego says he's the nephew of sink

(01:27:50):
sink Ouiger, another leftist. But this guy's I think worse
and people what's you know, stunning to me is that
people don't see through him. People don't see through people
like this. And he gets invited to these big podcasts
to make him bigger, so he gets even more explosion.

(01:28:13):
It's just Michael, do you think violence is so much
higher in America than in other Western countries because Americans
are more immature and materialistic? No, I mean, I wouldn't
put it that way. Maybe materialistic, but I don't know
that I would put that way. I think it's because

(01:28:35):
our educational system has failed a large number of Americans.
It has made them emotionalist, and it has driven him
to view the world as a zero sum Your gain
is my loss, My gain is your loss, and the

(01:28:56):
only way to achieve is to take and these socialists
don't help. But I also think there's something in American
culture it's about go out and get the stuff and that,
and that could be really misinterpreted wrongly. If the attitude
is zero sum, and if the attitude is is a

(01:29:20):
perceptual level, and if their attitude is there's only winners
and losers and I want to be a winner, that
can easily devolve into violence. I also think that the
gun culture in America doesn't help the idea that you
could just wield guns around and play with guns and
guns are no big deal. And we don't take guns
seriously enough. You know, we have more We have more

(01:29:44):
violent crime, particularly more deaths here in America than any
other civilized place on the planet. But it's this, Maybe
it's materialism, but it's materialism with emotionalism and betrayal, just
just a horrific betrayal of the welfare state and government education.

(01:30:09):
Michael continues. They feel more pressure to achieve wealth and status.
If they're not achieving it, they become anxious and insecure
and lash out violently. Yeah, I mean, I think there's
something to that. I think that's part of what I
was trying to say about quote ambition, even though that
wasn't the right word. I agree with you, it's about
wealth and status in and of itself. There's a certain narcissism,

(01:30:32):
but again it boils down to the failure of education.
It boils down to zero some mentality and viewing the
world through that kind of mentality that drives this. But yeah,
it's wealth and status for their own sake without understanding
the means by which wealth and status are achieved, and
that drives so much crime. Michael continues, Or this is

(01:30:57):
a different question by Michael. You said, so it is
relatively easier to save with some tweaking, but our Medicare
and Medicaid impossible. Will they collapse in your lifetime? Well,
I mean they won't collapse in a sense that the
government will just tax more and fund it through tax money,
which is what they do today. I mean, people who
pay into Medicare consume four dollars for every dollar they

(01:31:20):
put in. And where did those other three dollars come?
They come from general revenue, so there's no matching. Whereas
it's so security we pretend like we only spend the
money we raise in Medicare. There's no pretending in Medicare,
we just spend whatever necessary to spend. And wese they're
raising of money is unrelated to the spending of money.

(01:31:42):
So Midicare Medicaid will be saved through taxes. Now, maybe
they'll shrink a little bit over time. Maybe again with Medicare,
you can you can raise the retirement age, you can
reduce the benefits, you can privatize pieces of it without
privatizing the whole thing, all kinds of things to save
these programs. Medicaid is more like welfare because this is

(01:32:04):
people who can't afford it. You can make you can
reduce the number of people eligible for Medicaid you can raise,
lower the threshold in terms of income. You can do
all kinds of things to limit its use. You can
have price controls over drugs that will reduce the amount

(01:32:25):
of money spent on Medicaid and medicaid. But there's no
way to do that. There's no way to keep Medicaid
and Medicaid and so security all these things, pay for
them all and make it all healthy. That is, you know,
even if you save them by raising taxes or by
reducing benefits, Ultimately there's a cost, and the cost is

(01:32:47):
the quality of the healthcare and cost in taxes, maybe
general taxes, not the specific tax There's no free lunch.
Somebody has to pay for them. I don't see them
collapsing collapsing unless the US government in totality collapses because
money is fungible. You don't spend it yet you can
spend it there. And what we do today is we

(01:33:10):
fund Medicare and Medicaid off of government borrowing, borrowing, and
as long as people will lend us money, we will
continue to borrow. And when people stop lending us money,
then the whole system is in trouble, and not just
those two programs. All right, Charge about says, people in
my workplace can't afford the is it fighter yet attitude

(01:33:32):
because a mistake could cost thousands of people to lose electricity.
That's pretty cool, yep. I mean that is a kind
of intense job I think, and seriousness that you want
people to have. And you know, I wish people took

(01:33:54):
whatever job that they have with the same kind of
seriousness that that illustrates whatever job they're doing, it's life
or death for them. Treat it that way, all right.
Just to remind you, we are way behind on our
second hour fundraising goal, which we need to not to

(01:34:18):
sustain the show. We need to raise money so that
I can keep doing these shows. This is you know,
the money here goes to making the show possible, nothing else.
So please consider, please consider supporting the show. You can
do it with a sticker right now, you just put
a sticker. You can do it with a sticker. It

(01:34:39):
does not require you to ask a question. It's still
the same Superchat button, that dollar button at the bottom
of your screen. Or you can do it with a
super chat and ask a question and actually get me
to answer. And I've only got four super Chat questions left,
So jump in with questions, and we'll keep the show going.
Michael said, can't you do it? Show and so called

(01:35:02):
late stage capitalism. I've been seeing that ridiculous phase thrown
around a lot lately. Sure, I think I did something
on this a while back, but it's been a while,
so so I can I can certainly try again, or
I can certainly do it again. So I will. Yeah,

(01:35:31):
so I will. I can do another show on late
stage capitalism. If I don't do it in the next
couple of weeks, remind me again, Michael, but I will.
I will try to do it. I'll put on my
list of shows to do. Michael. If American embracest hates
and fascism, or by the way, Michael, if you see
a good video describing what late stage capitalism is, send

(01:35:51):
it over my way so that I can use it
as a as part of it. Michael says, if American
braces hate and fascism, it will be our own downfall. Absolutely,
Hopefully we don't take the rest of the world down
with us. Well, I mean a lot of the world
will suffer if we fall. A lot of the world

(01:36:11):
will fall too. And what the world loses is any
semblance of a shining city in the Hill any semblance
of a model. If America fails, they'll perceive it as
the failure of capitalism, the ultimate failure of capitalism, and
it's going to be very hard to recover for the
rest of the world. So we will take a lot
of the world down with us. Maybe not all of it,

(01:36:31):
but some of it for sure. Michael. The number virus
audits has dropped significantly under Trump. Is she just protecting
his crony friends who donated to his campaign? I mean,
I don't know, but there's no question that Mega has
this deep suspicion of the irs. They don't like the irs,
they don't like income taxes, they don't have a replacement,

(01:36:54):
they don't have any other mechanism for raising revenue. But
they don't seem to care. Like the m MT, the
modern monetary theory crowd, they think you can just print
money and that's all that's really necessary in order to
in order to achieve economic growth. So yeah, they they
they One of the maybe benefits of Trump presidency is

(01:37:20):
a less active I R s A right, Michael. Again,
Michael says Destiny is not a pedophile. These are just
slanderous smears having regular discussions debates on his channel is
a straightforward a way for your show to reach the

(01:37:41):
next level. I don't know if it's the way to
reach the next level, but it's certainly can't hood in
terms of subscribers. As my early appearance on the show showed,
Islamali says, thank you, thank you, islam Alee, and thank
you to John for doing a sticker. And that is it.
I've run out of questions, so unless you jump in

(01:38:03):
quickly now with the question, that will be the show.
I will remind you that tomorrow it'll be the same time,
twelve o'clock East Coast time, so Silvanos will be happy.
He likes the early shows. But yes, twelve o'clock East
Coast time tomorrow. Then we will reverte back to our

(01:38:23):
regular time of three or four pm East Coast time
on Thursday and Friday, and I expect I expect to
do a show on Saturday, also, probably a two or
three pm East Coast time, so and then I'll probably
be taking a week off and then we'll start up
again once I get to Florence. All right, guys, thank you,

(01:38:47):
thank you to all the super chatters. Thank you to
all the sticker providers. Thank you to all the monthly
supporters of the show, all of you on Patreon and
on PayPal. Please consider becoming a monthly contributor on Patrio PayPal.
Thank you to all the new Patreon subscribers. I've got
a bunch of them in the last thirty days, so
thank you. I know some of you have shifted from

(01:39:08):
PayPal to Patreon. I appreciate that. I think it's it's
probably easier for you to manage their counts on Patreon.
But yeah, please consider becoming a monthly support of the show.
I will see you guys tomorrow and have a rest
A great rest of your Tuesday and rest of the week. Bye, everybody.

All Episodes

🔥 Hasan Piker vs Capitalism | Trump Theater | Colombia’s Healthcare Disaster | Yaron Brook Show

Episode Transcript

Popular Podcasts

24/7 News: The Latest

Dateline NBC

The Clay Travis and Buck Sexton Show

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}🔥 Hasan Piker vs Capitalism | Trump Theater | Colombia’s Healthcare Disaster | Yaron Brook Show