Troops in the Streets, Trump’s Decline & America’s Economic Lies | Yaron Brook Show - Yaron Brook Show

Episode Transcript
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Speaker 1 (00:04):
Fundamental principles of freedom, rational self interest, and individual rights. Mhm,
this is the Ran Brook Show. All right, everybody, welcome
to your own Brook Show on this Tuesday, September two.

(00:26):
Everybody is having a great week. Uh yeah, we're gonna
We're gonna jump here into the news. As you know.
I'm I'm I'm still in Florence. Uh and in my
temporary office here in Florence. This will be the background.
I don't know what those sticks are. I think I
think those sticks are to hang coats and stuff, but

(00:47):
I don't know what they are. Anyway, there they are,
let's see. So we're gonna jump into the news. And
I'll just remind you that I'll be a year tomorrow,
probably later, probably an hour later, we'll see, and then
the same it's true of Thursday and Friday, probably an

(01:08):
hour or two later than today's show. A few things
before we get into the news itself, just a couple
of tweets that I came across that struck me as
as worthy of commenting on. All Right, so Abby Wilkinson,

(01:29):
some woman who likes communism, I guess, writes tweets I'm
not about to defend Stalin, but there's a difference between
an ideology that's genocidal and one that's based on the
idea of equality. And some guy Greg writes, I'm sure

(01:50):
Stalin's victims that there were lined up before firing squad
or work to death and the Gulag. We're happy to
die knowing that it was all for equality. And I
think the misses the point. The point is, and this
is a point we make, I think pretty strongly, Donn
and I in equals unfair. The point is that the

(02:13):
ideology or the idea of equality, the idea of equality
of outcome, is genocidal. The idea of equality of outcome
must lead inevitably to genocide. There really is no other
outcome possible for the idea of equality of outcome. And

(02:40):
if you're curious, if you interested to know why, that
is why communism must always leads to genocide. Why you know,
any ideology that advocates the quality of outcome must always
lead to genocide. All I can say is we equal

(03:01):
is unfair. Equal is unfair? Available in Amazon, available, you know,
and on a kindle, you know, just just yeah, buy it.
Read it. It's a good book. It's a good book,
all right. I had a comment to that it just
happened a couple of minutes ago. It's just so perfect.
It also relates to to Patrick Ben Davide debating the Communists.

(03:25):
He really had no clue because he doesn't know where
they're coming from, and he's non philosophical, so he doesn't
know how to combat They pretend arguments about communism, and
when they say, well, it's for the greater good, he
doesn't have any way other than to give numbers and
GDP and things like that. He has no way to
address that issue. He cannot make the claim, and he

(03:46):
won't make the claim. No, no equality is evil. The
idea of equality of outcome is evil. The very idea
of communism, the very idea of the common good a
bad idea is without a moral argument, without a philosophical argument,
you can't you can't combat them. You know that. Let's say, well,

(04:09):
Soviet Union was a communism, and c is not communism,
career is not communism. Communism has never been tried, and
you have to say it doesn't matter that. Well, first
you have to say, you know all those were communism,
and uh, and your attempts, well, whatever your attempts are
going to be are going to be just as genocidal

(04:31):
as they were, and you are philosophically corrupt. And communism
is an idea is evil, not just as I implementation
the very idea is an evil idea. But you have

(04:53):
to have a philosophy for that. Oh. Just breaking news,
breaking news, literally just happened. Donald Trump just announced at
a press conference with Higg Seth and JD. Vans and
a bunch of people there, he just announced that he
is moving the US Space Command. This is a new

(05:17):
unit of VIEUS military. The Donald Trump in his first
term created and is based at the Peterson Peterson Space
Force Base in Colorado Springs. Then he's moving it from
Colorado Springs to Redstone Arsenal in Huntsville, Alabama. No reason

(05:40):
was given for this other than Trump mentioned happened to
mention that he won Alabama by a huge margin, that
he is very very popular in Alabama. He wanted by
over forty percent. And then he kind of courtously looks
back at it else you know I wanted by And

(06:02):
then he looks at everybody else says that had anything
to do with my decision, of course, and everybody goes, yeah, right,
had everything to do with the decision. By the way,
this is going to cut tens of millions of dollars.
It makes no sense. It's already establishing Colorado Springs. There's
no reason to move it anywhere. It's there already. But

(06:25):
Trump doesn't need any reasons except you know, the people
of Alabama. They support me. I need to give them
a prize. I need to give them something cool. A
lot of the lobbying wainted this by the congressman and
senators from Alabama and by industries that are based in space,
industries that are based in Huntsville, Alabama. And of course

(06:47):
they're gonna have a lot more lobbying power given that
they were in Trump country than people in Colorado Colorado
Estate that voted against Trump pretty I think in all
three elections. So just a quick That was a quick announcement,
I think in the same press conference, I don't have,
I don't have. Let me just see if I can

(07:11):
update this and give you, you know, the the update.
In addition to that, there was rumors there was the
expectation that, yeah, I don't think it's been confirmed yet,
that Trump was also going to change an announce the

(07:31):
changing of the name of the Defense Department to the
Department of War. So it's going to change the name
of the Defense Department the Department of War. Now he
can't actually do that without action by Congress. But Trump
doesn't really believe in all of that congressional stuff and

(07:53):
division of powers and and things like that. No, I mean,
if you want something done, he just does it. So
he's gonna announce it anyway and then figure out how
to get around Congress after the fact. But he wants
a Department of War, not a defundment of Defense. You
can read into that what you want. I like the Department

(08:15):
of Defense much more than I like the Department of War.
The war of government is defense. It's to defend out
rights as individuals, as Americans. It's not to go to war.
Go to war under some circumstances is necessary to defend
the rights, but the fundamental, the fundamental of our military

(08:39):
is not to go to war. The fundamental of our
military is to defend the nation, defend out rights as individuals.
That is the essence. So make of that as you will.
We are you look at the department was called the

(09:00):
Department the War Department since the founding, and it was
it was only changed to the Defense Apartment in nineteen
forty seven, so it's not like there's no historical, traditional
basis for the shift back to War Department. I just

(09:21):
think the change from War Department to Department of Defense
was a good one and it's a shame to go
backwards a bit. All right, Let's see, we are going
to do one of those goals like we did yesterday
that YouTube really likes. We're going to do a thirty

(09:43):
minute goal. We'll make it. We'll make it a one
hour goal. And in the one hour, we want thirty
super chats. All right, so that is going to go live,

(10:05):
uh now, and that'd be great. So it could be
super chatty. It could be a sticker, but uh we
need thirty of them. They could be any any dollar amount,
any dollar amount, any dollar amount. And it was just
it was just launched, just started.

Speaker 2 (10:26):
Now.

Speaker 1 (10:27):
Great way just to put the show, and great way
to just have have a little bit of fun and
count down the number of of stickers and uh. And
it's also a good way to tell my support staff
at YouTube that I'm actually doing what they suggest I do,

(10:47):
that they don't lose patience with me. All Right. You remember
in when was it in In in June and July.
In July, Donald Trump send basically nasalized the California National Guard,
put it under federal command, which he's allowed to do
under certain circumstances, and brought out the Marines and placed

(11:09):
them in Los Angeles to back up the work of
Ice Well. In a fifty two page ruling, US District
Judge Charles Breyer basically said that he believes that this
was unconstitutional or illegal. Put it that way. He warned,

(11:31):
the Trump appears appears to have the intent on quote,
creating a national police force with the President as chief unquote,
and that Congress has never approved this, has never given
him that kind of authority. You know, the act that

(11:55):
is relevant here is something called the Posse Comitatus Act,
the Possecommentactic Act of eighteen seventy eight. This is an
act of Congress past that bars the military from enforcing
domestic laws without explicit permission from Congress. And you know,

(12:18):
Judge Byah claims that despite this is friction. The Pentagon
quote systematically used armed soldiers to perform policing functions unquote.
And he noted, and this is from a audico and
political about this, and he noted Trump has expressed his
desiety to use similar tactics in other cities across the country.

(12:40):
We've seen in dcaw DC has the authority because of
DC's status as not being a state, but he's talked
about doing Chicago and more in LA and you know,
in New York City. Bryan ruled that, you know, he
bris ruling bars the Pentagon from courte ordering, instructuring, training,

(13:03):
or using the National Guard currently deployed in California, and
any military troops therefore deployed in California from engaging and arrests, apprehensions, searches, siezures,
security patrols, traffic control, crowd control, riot control, evidence collection, interrogation,

(13:23):
or acting as informants. He says that the Posse Commentatis
Act clearly states that these cannot these acts cannot be
performed by the military, that these are policing functions. Now

(13:44):
he's put he's put his ruling on hold until September
twelfth in order to allow the Trumpet administration to appeal,
which I'm sure it will appeal, although I think you
know this will go to what is it the eighth Circlet,
which is a very liberal It in the West, and
it's likely that they will uphold his And then here's

(14:08):
another case that is going to go to the Supreme
Court where the Supreme Court will have to decide whether
the Trump is acting within his authority, within his authority
or not as m that's interesting within ay or not

(14:39):
as as executive as as president of the United States. So, uh,
it's hard. It's hard to tell how the Supreme Court
is ultimately going to rule in all these things. To
what extent is it going to uphold the separation of powers?
To what extent will it uphold We talked about this yesterday,

(15:03):
the role of Congress and the role of the president
a separate It's going to be really really interesting to
see how the Supreme Court handles all these cases. Again,
this is a case that will probably go to the
California to the federal courts in the I think it's
a eighth district, which is the West Coast, a pretty

(15:24):
liberal district. That is, they will probably uphold the judge ruling.
And then the question is what happens then? What happens
then it appeals to the Supreme Court. What happens to
the Supreme Court? God the Supreme Court's docket is basically
going to be Trump versus Trump versus Trump versus Trump

(15:47):
versus and it's going to be fascinating to see how
they balance all this out given so many of their
appointees they are Trump appointees, and you know, and the
others are pretty pretty pretty consistently conservative. So yeah, I
don't know. I don't know. But Trump gets knocked down

(16:08):
again on another issue, another issue, his agenda, I guess
gets gets knocked down. I don't know why YouTube is
not counting all of your super chats towards its goal. Like,
since I posted the goal, we've had one, two, three, four, five,

(16:30):
six seven. It's only counting three. I don't know why.
Now four it counts microvit it mil coovi, it's not
counting John, and it's not counting Greg. No idea how

(16:51):
this works, right, I'll have to complain. I will complain
to YouTube. Millstuff says the goal does not count stickers,
which are ones with the animated gift. Yeah, so here's
the thing, guys. If it doesn't count stickers, I mean,

(17:11):
so we got here, we go, we got one, two, three, four, five,
We still have five with questions that are not stickers
and it's not count it's only counting four. So I
don't quite get it all right. So here's the thing.
If you want to do a sticker, do a sticker,

(17:32):
but just say how you're on, or just put something down,
some woodage, verbiage. Don't just do a gift. Put some
verbiage down so it counts it towards the goal. And
I will complain because I don't think it doesn't seem consistent.

(17:54):
Stickers are not being counted, so you have to count.
It's just unting slow. Now, I don't think it's just
gunning slow. I think it's more than that. We'll see, okay,
oh yeah, So you know I'm on Twitter way too much.
And one of the things that I've noticed on Twitter

(18:14):
is there's really a campaign out there a because it
looks like it's orchestrated. It looks like it's announced a
conspiracy theory and new conspiracy theory. New conspiracy theory all
has to do with Trump's health. Trump Trump, we are
being told, at least on Twitter, is suffering from serious

(18:35):
health issues, serious decline, serious cognitive decline. Lots of photos
are being distributed of Trump having a vacant look in
his face, like like Biden had a gaping mouth, a
kind of you know, and other kind of issues that

(18:56):
make him look really old and and and sick and
just not there. Also, for a few days, Trump didn't
address the press, which is unusual for Trump. He kind
of disappeared, and people again I wouldn't say panicking, because
it's I think mostly people were anti Trump stating this.

(19:18):
People were speculating that Trump's health is on the decline,
and they kind of I think I think it's mainly
the left trying to get back to Trump for what
was done to Biden, although of course in Biden it
was quite evident to the whole world what was going on.
And well today he held this best confidence. I think

(19:41):
it's still going on right now. And I think to
the dismay of many of these people, he looked fine
and he sounded fine. I mean as fine as Trump
can sound, right, there's a limit, right, but he sounded fine.
But it is It is kind of interesting how this
is the things that people latch onto, not debating his

(20:06):
policy agenda, his ideas, but latching onto two issues around
his health. It's kind of sad to watch. There's betting
markets of open now will Trump complete the term? And
it was even odds. It was even odds earlier today

(20:30):
because people so many people are buying into this these
It was three to one against as of a few
days ago, and it's even odds now. So a lot
of conspiracy speculations, just people putting out all kinds of
nonsense affecting but people even willing to put money on it,

(20:51):
because that's what betting markets are for. There's even one
of the trending things on Twitter right now is hashtag
Trump is dead. So people are freaking out over Trump.
They should be, but this is not the way to
do it. Not the issue, not the reality. There's no

(21:13):
reason to believe Trump has any failing health, any failing
cognitive ability beyond his limited cognitive ability that he just
has that he's always had. All right, let's see, all right,

(21:34):
we are ready at eight at eight. To remind you,
we've got to go going for super chats for the
next for the next forty five minutes, I think something
like that.

Speaker 2 (21:43):
We're trying to get thirty super chats. It has to
be a super chat, not a sticker. So they have
to put some verobiage below in the gap. If we
can raise.

Speaker 1 (21:54):
If we can do this thirty in over the hour,
then I won't mention super chats for thirty minutes. I'll close.
I won't mention them at all. Won't bug you about
money at all during that period. All right, Manufacturing, you know,
one of the big goals of Trump, one of the
big goals of MEGA. One of the big goals of

(22:16):
tariffs was to bring manufacturing back to the United States,
to enhance manufacturing in the United States. I mean, a
lot of the rhetoric around MEGA, a lot of the
rhetoric coming out of the Trump administration is the US economy,
its fundamental health should be measured in terms of manufacturing,

(22:37):
not in terms of services, which have boomed and done
very very well in the United States over the last
few decades, but in terms of manufacturing. In the fact
that we've lost, lost, and disappeared manufacturing jobs and manufacturing
capabilities supposedly over the last few decades, really since the
late nineteen seventies. So I big go a big thrust

(23:02):
of this president's policies, including the tariff policies, is to
be manufacturing back and to increase manufacturing in the United States. Well,
it's not going well so far. Now, short term economic numbers,
we should make too much of them, but they are
what they are. This is the headline, US manufacturing contracts

(23:23):
for the sixth straight month, amid tariff drag. Now put
a sight of my Trafford dag drag. You know, that's
a conclusion. But the reality is that manufacturing is contracting
and it's contracted basically since Trump begins president, it's been contracting,

(23:44):
and certainly since he started talking up tariffs. So just
to read you from the story, I mean, this is
just straight straight up US manufacturing contracted for a six
straight month in August, factories built with the fallout from
Trump administration's import tariffs, with some manufacturers describing the current

(24:06):
business environment as much worse than the Great Recession. And
the Great Recession was really, really, really bad. So it's
really really hard to tell how the economy is doing
behind all this data. Will know a lot more in
the months to come, but it really does seem that
at least this part of manufacturing, the stuff that the

(24:31):
Institute of Supply Management gets it does surveys. These estimates
come from surveys that this part of the economy seems
to be contracting. Against a small part of the economy.
Economy is not driven by manufacturing, it's by manly driven
by services. But it's the thing that Trump has hailed

(24:52):
as his mission in with all his policies. So it
is important in terms of measuring that you also soul.
And this is government numbers that, for example, spending on
construction of factories has dropped. In July was down six
point seven percent from a year ago. And so you're

(25:14):
generally seeing a contraction in capital investment in the manufacturing sector.
Fewer factories, a few investment if capital goods in machinery,
and just less manufacturing going on, a contraction in manufacturing.
And the sentiment is pretty clear, I mean the reason
people are giving a pretty gear. For example, if you

(25:38):
look at makers of transportation equipment, they said they are
saying the conditions are worse right now than in two
thousand and seven, two thousand and nine the session, they said,
there's absolutely no activity right now, and this is one
hundred percent attributable to comment tariff policy and uncertainty it
has created. They are describing corent situations stagflation. Some electrical equipment,

(26:06):
appliance and components producers complain that quote made in America
has become even more difficult due to tariffs on many components.
So they are assembling stuff in America, but they still
have components that are importing, but now you know, the
terriffs on those components are making it more difficult for

(26:26):
them to actually do the assembling in America. So fewer
stuff is going to be made in America. They said
that the quote administration wants manufacturing jobs in the US,
but we are losing higher skilled and higher paying roles.
Others reported that because of the lack of quote stability
in trade and economics, capital expenditure, spending and hiring a

(26:48):
frozen manufacture as a computer and electronic product set, quote
tabs continue to wreck havoc complanning and scheduling activity, adding
that quote plans to bring production back to the US
or impacted by higher material costs making it more difficult
to justify returning manufacturing to the US. So it does

(27:10):
seem like unsurprising to anybody who listens the Iron Book Show,
but it does seem like the tariffs actually backfiring on
one of Trump's major goals, which was this idea of
bringing manufacturing back to the United States. It doesn't seem

(27:32):
like that is happening, at least not yet. Again, these
are show term results. We'll see what happens in the
long term. But the show term is that to have
a cuippling they are reducing manufacturing and creating uncertainty and
reducing investment. If you look at a survey that was done,

(27:56):
this is the question that was asked of the survey,
has your business been impacted by higher tariffs this year?
Haw's your business been impacted by higher tariffs this year? Well,
three point seven percent of manufacturers, this is again manufacturers.
Three point seven percent of manufacturer says it was good

(28:17):
for them. It's good. We talked about that yesterday. Those
are the manufacturers where the tariffs are shielding them from competition.
Like yesterday we talked about the flatway spoons and knives
and forks and stuff, which places are going to go
up for you guys, They are the ones that are shielded.
This is good for them. Seven percent say they just

(28:40):
don't know. Seventeen percent are saying probably no impact at all.
Tariffs are not doing anything one way or the other.
Seventy two percent yep, seventy two percent say that higher
tariffs are having a negative impact on their business. And

(29:01):
these are just manufacturers. Manufacturers, the one industry, the one
economic activity that MAGA and Trump and all the so
called economists support them claimed that is the most important.
Is benefiting three point seven percent of manufacturers. I guess
the ones who have really, really, really good men in Washington,

(29:24):
and it's hurting seventy two percent. Better get your better,
get better better people lobbying for you. What are you
waiting for spending more money on lobbying. That's what this
is all about. Join the swamp, Join the swamp. So shockingly,
Trump's are back to have some backfiring. But backfiring is

(29:46):
the wrong terminology, because it's not like anybody serious, anybody
serious didn't know this was going to happen, didn't know
that tests would not do what some of these ignoramuses
claimed that it would. I mean, it's not like you

(30:10):
wouldn't want by not just me, many people, many people.
All right. Reminder, reminder, we've got a goal set by YouTube.
You really like these goals, It's to get thirty super

(30:34):
chats in the hour. I don't know how much time
we have left in the hour. Let's see how much
time we have left in now, maybe it'll tell me
we have forty minutes left, thirty nine minutes and thirty
six seconds left to reach this goal, we need thirty.
We need thirty superchats, not stickers. Has to be a superchat,

(30:55):
so you don't have to ask a question, but you can.
Audief says, comet me in count me YouTube. You have
to put some verbiage underneath just any viotage. It can
be any amount. Two dollars, three dollars, ninety nine cents,
I think counts any amount. And we were twelve out
of thirty, which is not bad because we're not even
at the half waymark. But it would be good to get,

(31:18):
you know, get the thirty. That will increase YouTube's confidence
in us. It increases his engagement. I guess the number
of superchats increases engagement. It's not just the size of
the super chats. And yeah, this would be good for
the Iron Bookshops. If you want to help us put
the show financially, if you want to help them put

(31:39):
the four show visa v YouTube algorithm, please consider doing
a super chat again. Augief did two dollars. That's great.
I just so wan go by by for fifty dollars.
We'll get the thanking him in later. So you know,
I think it was James Bond. James James Bond. So

(31:59):
feel free to jump in and participate, join the fun.
She remember when the Big Beautiful Bill came by. One
of the features of that Big Beautiful Bill was that
it included a bunch of tax cuts that Trump had

(32:23):
promised when he was running for president. I mean, you
have to give Trump credit for one thing. He does
what he promises, or at least he tries to do
what he promises. He never repealed Obama kid, did he
But he tries, he says he tries. Anyway, he promised
on the campaign trio that he would cut taxes on tips, tips,

(32:43):
and indeed the Big Beautiful Bill cuts taxes on trips,
it tips, it It caps that at twenty five thousand dollars.
If you get tips some more than twenty five thousand dollars.
The tips that you get above twenty five thousand dollars,
you do have to pay taxes on them, but not
the tips below twenty five thousand dollars. Big it can
make a big, big difference to your tax bill. If

(33:05):
you're in their tip collecting business. Anyway, the the I
guess the Treasury Secretary or the Treasury Department has just
made up a list. Mary Eleen just said, yo dude.
I didn't know Mary Ellen could say yo dude instead
of Texas. Where's the yo dude come from? That's pretty cool,

(33:28):
all right? Anyway? Trumpet Station is just released sixty eight
job types. Sixty eight job types that qualify for a
tip for tips. So it includes the obvious like bartenders

(33:49):
and food service simp servers and bell hops and concierges
and taxis and right shape drivers and parking attendants and
handdressers and many script and many many new chorist people
do manicues. I didn't you know it didn't look like

(34:10):
it included like superchat recipients. I mean, if I wasn't
living in Puerto Rico, it would be pretty cool if
I could, If I could take twenty five thousand of
your superchats, count them as tips and not have to
pay taxes on them. Now, I pay very little taxes

(34:30):
on what you do give me because I'm in Puerto Rico.
But yep, it's it's it is interesting. So it's an omofilm,
but a lot of people were wondering, you know, is
my profession going to count? Am I included in the

(34:50):
in the in this uh tip of deal. And so
now there's a little bit of cloudy, a little bit
of cloity. So so it now is it turns out

(35:13):
that if you're in the entertainment business, it includes you
as well. So singers, dancers, other forms of entertainment are
so eligible I guess for this tip deduction. But there
are plenty of eligible professions where workers potentially could find
a way to repurpose their regular income as tips. For example,

(35:39):
a lot of home service jobs like electrician, plumber, h
VAC repairman. Musicians, singers, dancers are eligible for the note
tax and tips, which has this category called entertainers and performers,
which should include comedians, clowns, magicians, street performers. I don't

(36:01):
see YouTube commentators. What the hell? Oh strippers? One off
strippers included? I think they are entertainers of performers, strippers
of dancers. I mean, it's a broad definition of dance,
but yeah, I'm sure strippers are going to count themselves
as entertainers and performers. I should count myself as an

(36:25):
entertainer performer and therefore I should be included. You know,
this this goal thing that YouTube has going does not
look like it's counting right. I'm suspicious as counting abilities.

(36:46):
I'm definitely going to launch a lot of former complaint
with with YouTube about this. Anyway. You know, there's now
a lot of specificity, a lot of people are going
to recast their income as tips. Part of it is

(37:06):
interesting because there was some of these professions. This is
typical Trump, right, Trump administration. Some of these professions the
bill explicitly excludes from counting as tip perceivers. It doesn't

(37:28):
stop the Trump administration from listing them as being able
to do so. Tell with Congress again with what actually
is written with the law. What matters is what we
decide and who lobbied and when they lobbied, And it
looks like they might expand the list. My drinket, it
depends on who lobbies and who gives what to whom

(37:50):
and what happens. This is more swamp swamp swamp and yeah, tips,
you don't pay taxes if you get tips. You know
the economical I guess anytime people pay less tax is
a good thing. Not when you're any a deficit and
somebody has to make it up, so somebody else has

(38:11):
to pay more taxes because you're paying less taxes. So
you know it doesn't work out quite that way. All right, No,
it doesn't have to be more than five. No, I mean,
like as a take economies, I don't think it counted.
I don't know. It's acting weird, but I will complain officially,

(38:33):
will complain. Okay, all right, let's talk about this question.
The two next really topics are related to one another.
All right, there we go. That is Uh, that that counted.
That one. That's good. Uh, let's see. I want to

(38:57):
talk about this general sense of dissatis faction, the general
sense of people that and we talked about this with
gen Z, but it's really much broader than gen Z.
It's a it's a phenomena in a in in in
America today. I'll give you some numbers, numbers in a minute.
People that are just dissatisfied with the state of the economy.

(39:20):
They're dissatisfied with their ability to achieve the American dream.
The perception is that people out there can't achieve the
American dream even if they have and the workI heart
doesn't get you anywhere anymore doesn't count in some serious way.

(39:42):
I mean, this is generally, I think a trend. Again,
you see this very much so with Generation Z, that
that thinks that the world is horrible, the world is
set up against them. They can't achieve anything, they can't advance,
they can't progress, they can't improve, and uh and and
you know the they're crippled by this. The state of

(40:05):
the world. Nothing is their fault. It's the fault of
the world, and the world is it is just not
making it possible for them to achieve the things that
they expect to achieve in life. And this also relates

(40:26):
the idea of well, what is the real state of
the economy, particularly with Trump now and bite in before.
What are the good things in the economy? What are
the bad things in the economy? What is the objective
state of the economy? Should we be as dissatisfied and
depressed as we are? And then combine that with the

(40:48):
fact that the stock market feel that the stock market Sept
five hundred, it's at all time highs, it's it's never
been as high as it is right now. So the
stock matter is basically saying, no, the economy is doing great.
At least the company is listed in the SMP five
hundred are doing great. It's it's up ten percent this year,

(41:09):
and it's again it's an all time high. What's the
relationship between stock market and the economy and how good
is the stock market predicting what's coming? Interesting? All right,
let's start with this poll. Wall Street Journal ran a pole.

(41:30):
It was published today, yep, today at the wall Steat Journal,
and I guess yesterday it was published in the wall
Sea Journal yesterday ran a pole and they and the
poll finds that the share people who say they have
a good chance of improving their standard of living fell
to twenty five percent, which is a record low in

(41:52):
surveys dating back to nineteen eighty seven. So all the
way back to nineteen eighty seven, nine to eleven, I
should have followed it, you know, the dot com bubble burst,
the Great Recession, COVID, all of that. Today, only twenty
five percent of people believe that they have a chalance

(42:13):
of improving their standard of living, and that is the
least number since they started the survey again back in
nineteen eighty seven, so this is a long period of time.
More than three quarters said they lack confidence that life
for the next generation will be better than their own.

(42:34):
Nearly seventy percent of people said they believe the American
dream that if you work hard, you'll get ahead. I
don't think that's the American dream, but anyway, no longer
holds true and never did or never did or never
did the highest level in nearly fifteen years of surveys.
Republicans in the survey were less spessimistic the Democrats. But

(42:58):
that happens whenever your parties in power. If your party
is in power, you're more optimistic than if they're out.
So during the Biden years, Democrats are more optimistic about
the economy and their prospects of the future. When a
probalygan as president, Reprobabicans are more optimistic about the future
and their prospects. So what we're finding here is that

(43:26):
you know, a huge majority of Americans, I mean seventy percent,
that's a big majority of Americans have a negative view
of their and their children or the people around them, prospects,
prospects in the world. And this reaches across demographic lines.
This is true of men and women. This is true

(43:49):
of younger adults and older adults. This is true of
those with a college degree. This is true of those
with incomes overundred thousand dollars and under one hundred thousand dollars.
This is a general malay, a general malay across the board.

(44:16):
And you know, it's it's it's sad, it's tragic. Really.
I mean, one of the things that made America America.
One of the things that I think drives the American
economic success story is a fundamental belief in a better future,

(44:39):
an optimism if you want to call it that, about
the future. I mean, it's what drives entrepreneurs, it drives
risk takers, it's what drives investment in the stock market,
an investment in building this country and creating this country,
in energizing this country. So it's really sad when that energy,

(45:14):
that attitude is not there where people really think that
things are really bad. And you know, the funny thing,
of course, is well put it this way, one of

(45:38):
the big drivers of economic growth is the belief in
economic growth. If people believe that they have no chance
to succeed, the American dreams dread success in the future
is that hard work doesn't pay off, They're less likely
to be entrepreneurs, they're less likely to work come, they're
less likely to do the things that actually produce economic growth,

(46:00):
economic success, I mean, majorities in the survey said the
prior generations had an easier time buying a home, starting
a business, or being a full time parent rather than
the workforce. Majorities also said they lack confidence that the
next generation could buy a home or save adequately for retirement.

(46:28):
And this has a real impact. Now, it's interesting because
this attitude is to lifes and divorced from the actual
reality of things. The affordability of homes, the level of
price inflation, the level of wages, the levels of wealth accumulation,

(46:52):
all of that is actually going It's not going great,
it's not going fantastic, but it's okay, it's doing okay. So,
for example, economists of what they've done is they've taken
kind of economic managures, different economic manasures, and they come

(47:12):
up with an algorithm that tries to predict consumer sentiment,
people's attitude towards the future, how positive a negative they
are about the economy. And they did this, they mapped
it out and they run the numbers, and from two
thousand and five when they started doing this till twenty twenty.

(47:36):
Till COVID, you could pretty much tell what consumer sentiment
would be given the economic data. See economic data and
sentiment lined up really, really, really well. And then something
happened around COVID. The sentiment rights people's attitude, particularly starting

(48:06):
in i'd say with Biden, really with with you know,
in mid twenty twenty one, became very negative, very pessimistic,
very dark. Well, what the model says predicted on the
actual economic data would have suggested much better outcomes to

(48:29):
the gap. So they were completely matched for a long time,
and then the gap explodes. I wonder if I can
I'm just oops, testing something. Give me a second. Let
me see if I can do this. Yeah, let me
let me show you this. Oops, maybe not, Maybe I
can't show you this. Yeah, there we go. Let me

(48:52):
show you this. It's a it's a cool graph. I
like graphs. I hope you guys like graphs. I'm gonna
show you graph Let's uh, let's do this. That's not
the graph I want to show. You're gonna show you
that graph in a little while. Let's well, yeah, let's

(49:16):
do this. Let's show you that graph. Okay, can you
see that graph. I'm gonna shrink it a little bit
so you can see all the data points. Yeah, there
we go. You see that graph. So the gray is
what you would predict people's sentiment would be about the economy,
and the red graph is what it actually is, what

(49:38):
they actually tell people it is. And you can see
that the two graphs are completely colorated, completely line up
with one another from twentyd and five to twenty twenty even,
you know, they don't misalign that much through twenty twenty one.
Beginning of twenty twenty one, and then starting in early
twenty twenty one, actual sentiment about the economy just plummet,

(50:02):
and the reality of the economy is actually not that bad.
It's not good, it's not great, but it's not that bad,
and you'd expect sentiment to be a little bit, well,
quite a bit better. You can see how sentiment went
down during the financial crisis in seven oh eight over there,

(50:26):
right and right now. It's worse than it was back then,
but by every measure economic measure that we have, the
economy is doing much much, much better than in two
and eight, two thousand and nine. Now, maybe people are
sensing that we're heading towards some disaster, and maybe we
are maybe that's what's being captured, but they mean sensing

(50:49):
this since two thousand and one and nothing has happened.
Disaster hasn't happened, so you know some thing is going
on here. I'll just give you one other graph to consider.

(51:11):
This one. I'm gonna grow a little bit. There we go.
This one is interesting because this one is up. This
one is come on the problem of working on a

(51:32):
laptop instead of my usual setup at home with multiple screens.
This one says, basically, the top line is how do
you feel about your personal life in general? Are you
satisfied or dissatisfied with the way things are going in
your personal life? And people score very highly. They think

(51:55):
everything is going great for them. The rule graph is,
in general, are you satisfied and dissatisfied with the things
how in the way things are going in the United
States at this time? Horrible? Just horrible. My life great,

(52:16):
my neighbors, my kids, my cousins, everybody else, Their life sucks.
I mean, look at this. Twenty percent think life in
the United States is going well, but eighty percent think
their own life is going wonderful. I mean, it's pretty

(52:38):
amazing the kind of data you get out of these surveys,
because I think this is how people really think. This,
by the way, is a data set that goes back
in nineteen seventy nine. Ask the same question, exact same
question are people since nineteen seventy nine, And you can
see there's always a difference. They always think their life
is going well and the rest of the country is horrible.

(53:00):
During the nineties, they had a view a positive view
of ever increasing better view of the state of the country,
from a very low point in nineteen ninety to a
high point in two thousand just before the dot dot
com bubble burst. But then since then it's been pretty

(53:21):
negative people's view of the country. Part of the question
is how much of this? How much of this is
a consequence of the fact that we're constantly being told
by both sides of the political spectrum, by the loudest

(53:44):
voices in our political spectrum in the case of right now,
by the president of the United States up until he
became president, of course, and by his supporters and the
other side, and constantly being told that life sucks, ways

(54:04):
that are going up, Inflation is out of control, constant
barrage on a daily basis, with no word, no no
no offering of any kind of solutions, constantly telling us
how terrible things are, how it's all going to go
to hell. And it's constant and very little positives. And

(54:34):
it's partisan, but it's not just partisan. You definitely get
the sense that it's deeper than just partisan. It's you know,
it's part of what people have become to believe. I've
given you kind of the grafts and the charts about income.

(54:54):
I mean, people believe that life was better than the
nineteen fifties because you could make a living on one
income and do all these wonderful things, and they ignore
everything else. We saw the guy who was trying to
convince me that if you price everything in gold, look
we're much poorer today than we were forty years ago.

(55:14):
And it's clearly not true, but he's gonna believe it
and gonna spread the word. The left for years has
said we pequed as an economy in the nineteen seventies.
Now the way he just joined them and agrees with them,
we need massive restructuring of our economy and global trade
because things are going so badly. It's the whole Trump premise,

(55:42):
but things are going so badly. It was the whole
basis on which he got elected. He was going to
fix all the awful stuff that's happening. Crime in our streets,
lower stand of living, lower quality of life, lower wages,
higher prices. Everything's going to help. It's all we hear constantly,

(56:05):
a barrage. And what we might think, oh, but my
life's doing I'm doing pretty well with my life. But
I mean told the things are awful, then other people
must be suffering, and indeed my future might be at stake.
Maybe I'm doing well right now, but the future sucks,
because that's what everything that everyone is telling me, and

(56:29):
it's a constant barrage. It's interesting, though, that while people
have this attitude, they also as investors are quite happy
to bid up stocks and keep buying, and stocks keep
going up. Now again, not to say they aren't real

(56:58):
economic problems, because we know they really are economic problems.
The big economic problems, the lack of freedom and the
lack of economic growth, a real robust economic growth. Economic
growth is too timpid, but it's not collapsing, it's not shrinking.

(57:20):
And in spite of the tipid economic growth because of technology,
life is getting better, quality of life, stand of living
is going out, and productivity is going up, and therefore
wages are going up, and they're likely to continue that
trend into the future in spite of tariffs and you know,
mismanagement of economy that continues on a grand scale. It's

(57:48):
but people are people have been kind of loops. Let
me have to turn on the air conditioning turns off
after all, Yeah, I can't change the temperature anyway. So

(58:14):
people's attitudes are what they are, but they're not really
attached to reality. And people's ability to analyze reality, particularly
when it comes to economics, is very limited, and to
lodgies then justifiably so, they just don't have the tools.
It's complicated, it's hard, and our intellectuals continue to betray us, steadily,

(58:42):
consistently betray us, not provide us with actual facts and
reality of what is going on. One of the reasons
I think you tune into the One book show is
at least here we try to present you with an accurate, balanced,
real view of what's going on. It's not tilted towards

(59:04):
you know. My inclination is to say there is this
philosophical inclination, everything is going to hell because there was
not becoming objectivist. And if they're not objectivist, then the
world's going to go to hell. And it's all happening
now and it's going to be tomorrow and the markets
will crash and the world will be incinerated because because

(59:24):
no objectivism. But the reality is more complex than that,
Bagny and read in keep going to work, keep producing,
keep making stuff, keep building in spite of all the
bastards trying to stop them. And while the state of

(59:48):
the economy today is tragic, because it could be so
much better, and it's it's it's hard for me to
describe to you how much better it would be because
I can't point to an alternative universe where we are
actually a free markets and what we are ten times
richer than we are right now. But that's the reality.
We could read much much much, much much richer than

(01:00:11):
we are right now. It's just a two or three
percentage points, I mean, ecnonnomy growth above what we have today,
and the liberty that comes from that and the freedom
that comes from that will generate so much increases instead
of living, quality of life, beauty and everything everything good

(01:00:32):
in life that it really is hard to imagine. Yeah,
I've often said you kind of have to be a
science fiction writer to be to actually describe what is possible.
And I'm not a science fiction writer, so I don't
know flying cause is not a big deal. But it's

(01:00:56):
time that we demand our intellectuals bring some objectivity to
the table and stop this moral panic or constant panic
about the world and about the economy, about what's going
to happen, and about doomsday, the imminent dooms day that happens.

(01:01:18):
I mean, right now, we're facing an interesting situation. You
hear from me, and you hear from a lot of economists.
The fact that Trump Carraff saw really really bad at
the economy. We're seeing negative sentiment in manufacturing, what is
it now, six months in a row. But I also
try to remind you the manufacturing is only ten percent
of the economy, and that the most productive parts of

(01:01:43):
the economy actually in services. In Nvidia, the most valuable
company in the world today, is a service company, not
a manufacturing company. It designs chips, designs micro chips. Those
microchips are made in Taiwan, but they are designed in

(01:02:04):
the United States. Do we of value added doe of
wealth creation is done in the United States and in
Video as a consequence, has a market cap of over
four trillion dollars, and therefore it stock is going up.

(01:02:24):
It's doing phenomenally well. And that is not the sentiment,
and that is unimpacted by the way by tariffs, because
they don't have to import anything other than chips, and
of course Trump is given an exclusion for chips. This,
of course white apple stock is doing well. Right Apple
is not suffering from tariffs because the stuff that it

(01:02:48):
imports has been excluded from tariffs. Meta Meta has doesn't
input anything. What does an input say, It has no exposure.

(01:03:11):
So you know, the reality right now is that there
are a lot of mom and pop a lot of
small and medium sized businesses that are really, really, really
suffering from tariffs. A lot of smaller medium sized businesses
will have to shut their doors. But that's in p.

(01:03:35):
Five hundred. For most of it doesn't have to worry.
Many of those companies are service companies. Many of those
companies do not have any exposure to tariffs. Many of
those companies have vast lobbying facilities organizations. They can handle

(01:04:02):
Trump and can handle the tariffs mitigate, if not eliminate,
they consequence on them. And when you invest in the
stock market, you're not investing in the US economy. You're
not investing in the small mom and pop stores, You're
not investing in small medium sized businesses. You're not investing

(01:04:22):
in a in a company that assembles toys or sells
toys in the United States. You're investing in the magnificence
seven stocks that are that are taking their SMP five
hundred to new Heights, which all tech stock, which none
of them are manufacturers, and none of them really have
exposure to tariffs. You're investing in the five hundred biggest

(01:04:48):
companies in the United States for the most part and
then doing okay, and some of them are doing great.
Economy is not doing great. I mean, two years ago
there's some five hundred went up twenty three percent. Last
year there's some five up twenty four percent. This is
under remind you, Biden, the economy didn't go up that much.

(01:05:12):
The economy didn't do that well. Stock market did. The
stock market did. So when you get the stock market,
it's not reflecting the economy. And of course the stock
market is predicting that things are going to be good

(01:05:33):
for them. Big business in America will do okay in
spite of Trump, or maybe even because of Trump. Oh,
we've got a countdown clock now, so we've only got
four minutes. But the nice thing is we're only short
one one super chat to make our goal, like one

(01:05:54):
super chat to make our goal of thirty superchats and hour.
But we've only got four minutes to get that one
super chat. Let's see if somebody will step in with
the superchat. Any amount is counted so we can clear
this goal, and YouTube will give the one book show

(01:06:16):
a big shining you know, star whatever, it'll help the
algorithm help everything. There we go. Mary Eline just did it,
she says, she wants a flying car. And look, you
did it. Your goal is complete. I've got celebratory fireworks
going off on my end. I don't know about you, guys.

(01:06:36):
I do want to mention, because I was in the
middle of a rand when this happened, that Troy did
come in with the sticker, and stickers do count. With
a sticker for five hundred Australian dollars, So thank you Troy,
really really really appreciate it. That is really fantastic. So
thank you, thank you, thank you, and I will I

(01:06:58):
will thank the rest of you providers in a little bit.
We'll get to answering questions in a little bit, and
I will not mention super chats other other than that,
I'm not going to mention them because I promised for
half an hour until for thirty eight, for thirty eight
here in Florence, Italy. Because I promised I wouldn't if

(01:07:18):
we achieve the goal. So thank you, Troy, really really
appreciate that. Anyway, I don't confuse the stockhol with the economy,
and remember that, you know, the economy is still doing okay.
Tariffs affect a small part of the economy. Trade is
a small part of the economy. The parts of the

(01:07:40):
economy that are going to suffer the most are the
parts of the economy that we see the least. Again,
small mom and pop, medium sized businesses. And look, it's
not like that being competed away by big businesses in
a fair and open marketplace, like when Walmart comes to
the city. And yet a lot of small and medium
sized businesses go out of business. But that's a healthy
going out of business. That's what shoomptet are called. Creative destruction.

(01:08:03):
What we're seeing right now is completely politically motivated stupid
economic policy competing or driving people out of business. The
economy is going to slow. We are facing stagnation of
some form you know, maybe max two percent growth, probably
those that are one percent growth. I think, you know,

(01:08:25):
again economic predictions under Trump and you know, at least
early on in the Trump because of these policies. On
the other hand, there are things that Trump is doing
that are enhancing economic growth, things like significant tax you know,
on continuation of the cope a tax cut which was

(01:08:45):
very positive that they continued that they didn't let the
corport tax bounce back up to thirty five percent, so
it's still twenty one percent. And then in addition to that,
the Big Beautiful Bills included, for example, one hundred percent
depreciation of certain certain items like bonus depreciation and expanded

(01:09:08):
interest deductions, which are going to decrease corporate taxes even further,
which will help a lot of this some people have
under companies, but also will generally reduce prices, increase wages.
Good for the economy. These are all good for the economy.
Cutting corporate taxes is really good for the economy cut

(01:09:30):
them zero, that would be ideal for the economy. So
the other tax cuts like cutting tips taxes and tips
and cutting taxes and so solb security benefits and a
stuff like that, Eh, they don't have much impact at
all in the economy. But cutting the corporate tax definitely
has positive impacts. So the deregulation is having positive impacts.

(01:09:50):
So some areas again might not be manufacturing with some
areas in the economy are doing well. And the reality
is that why the trauma dedministration take you ten percent
stake in Intel or having a golden share in US
Steel is long term horrible for the US economy. It

(01:10:11):
is long term really really bad. I think for the
US economy. It's pretty good fans out in terms of
just shareholding holders, particularly in the SOT to medium term.
It basically tells them the government is not gonna let
Intel go bankrupt. They're gonna backstop them. Are they going
to bail them out? It's pretty good for other companies

(01:10:32):
like Intel that pretty much the shareholders can go, oh okay,
so we get a benefit if things go well, and
if things go badly, maybe the governmill buy ten percent
of US too and save US. It's basically a put option,
a bailout for all big companies in the US, any

(01:10:54):
big company that the President wants a stake in. And
then on top of that, we've got real technological innovation,
primarily right now with AI. I mean the private market
valuation of Anthropic and Thropic, which is a competitive open

(01:11:14):
AI and Tropic is an AI company is on the
verge of hitting five hundred billion dollars, not five hundred
billion dollars. It will be the most valuable private company
in the world. It's an American company. It's a service business.
They write software. You can raise tasks one thousand percent.

(01:11:38):
It'll might might affect their customers, won't affect them in
terms of what they do day to day. Again, we
talked about Nvidia, and you know, tech stocks up almost
eight percent for the year, which is pretty good given

(01:12:00):
that the last previous two years up twenty plus percent.
You think this year would be a slow year. Eight
percent is still pretty good, so you know. And then

(01:12:22):
stock Pocket was anticipating short of interestates going down. Interstates
generally going down as good for stocks. Not today, the
market changed its mind. It decided that short of interstates
are going down but long term interstates all spiked today.

(01:12:42):
The thirty year bond really almost came to five percent.
The tenure bond was went up quite a bit. I
think it was at full point four percent. As a
consequence of interstates going up, the dollar went up a
little bit. Gold gold is an all time high. It's

(01:13:05):
over thirty five thousand, it's over three thousand, five hundred.
It's one hundred times more one hundred x. We talked
about this the other day when we talked about gold.
It's one hundred x what it was when the US
went off completely off the gold standard in nineteen seventy one.
One hundred x. That's pretty good performance, pretty good performance

(01:13:32):
for gold. So if you invested in gold. So stockholant
today did not do well. I think stocks were down
over one percent as a consequence of long term rates
going up. At the end of the day, what stocks
care about. Stock investors care about our long term rates,

(01:13:52):
long term interest rates, and they want long term interestates
coming down. The lower interestrates are, the higher the value
of assets. We've talked about this. Interest rates and the
value of assets inversely related, all right, So you know

(01:14:16):
it's it's hard to assess long term economic project It's
hard to make long term economic projections because, oh yeah,
it's towards viewing the world from the perspective freedom. It
always seems like, I think you're gonna get worse because

(01:14:42):
things are gonna get worse because freedom is shrinking, at
least economic freedom is shrinking. But the reality is because
of innovation, because of Silicon Valley, because of pockets of
innovation all over the world and especially in the United States,
in spite of the lack of freedom, In spite of
the declining freedom, we do pretty well. And even the

(01:15:04):
decline of freedom is not uniform. We get periods of
real deregulation like we did in the seventies and eighties,
and then we get periods of more regulation like we
did in two thousands. It's not uniform. So we tend

(01:15:26):
to be pessimistic about the future from economic perspective, but
it tends. But it's also the case that entrepreneurs seem
to find ways in spite of the regulations, in spite
of the controls, in spite of the the growth movement,
in spite of all the leftists and the MAGA and
the people who hawken back to twelve twenty the reality
is that they are people out there willing to take risks,

(01:15:47):
willing to engage in economic activity and really create and
build and make stuff, and they're the ones we should
think for the economic success that we have. It was
interesting there are two stories today in the press, one
by Matt Ingleses and one by Tyler Cowen about this
issue of the stock rocket versus the economy and how

(01:16:10):
those two line up. All right. One final, final, final,
little tidbit of a comment about something I saw on
Twitter from Charlie Cook. Charlie Cook, my old buddy, so

(01:16:31):
long Ingram posted this, don't forget that any trade deal
with India will require us to give them more visas.
I'd rather not pay them in visas and trade deficits.
Let Mody see what terms he can get from SI instead,
stell with them. We don't want any more Indians in America.

(01:16:52):
And Charlie Cook says America does not need more visas
from people from India. No form of legal immigration has
so displaced American workers than those from India. Enough, already
we're full. Let's finally put our own people first. Yep.

(01:17:13):
So it used to be that people would complain about immigrants,
that they were lazy and they they were no good
and and you know they they they they were mucha
And the reason to stop immigration is because they were
using up our welfare programs. They were all leeching off

(01:17:35):
of Americans. They were using warfare, and they were sydy kods.
The kids the government schools, and they were getting free
health care and they were they were you know, they
were there were moochers. So we hate immigrants because they're moochers.
But that's not maga's claim anymore, at least according to
Charlie Cook. And he's a good representative. No, Now the

(01:17:56):
claimers we don't want these day immigrants. They work too hard,
they're too smart, they make too much money. We can't compete.
Keep them out. We need to preserve our jobs. Oh
my god, Americas are going to lose jobs to Indians
because they're hard working and they're smart. Pathetic. Pathetic is

(01:18:25):
the right way to think about this, somebody pointed out.
Steve Davis actually pointed out that this is also the
line that was taken against the Chinese immigrants in the
late nineteenth century with the Chinese Exclusion Act. The reason
they were excluded is because they were too good at
their job, they were too hard working, they were getting

(01:18:45):
stuff done, they were building railroads, and others couldn't compete.
It really is disgusting and racist and despicable. Charlie Cooked,
the latest is America and America for Americans. What a

(01:19:05):
crazy thought. Yeah, let's have more Americans. And some of
those Americans could be born in India. And by the way,
which American workers were displaced by Indian workers? I want
to know who was displaced? You mean the lazy ones.
They're not so productive ones America, Indians in America. And

(01:19:29):
since when are we a country that rewards the unproductive,
the lazy? I thought we embraced competition. We're in based ability,
were in based hard work. We in based American dream,
and therefore embrace Indians who come here to actually work. Yep. So,

(01:20:13):
Charlie Coke, embracing kind of the racist agenda, embracing the
nationalist agenda, embracing Yeah, it's better to have American moochas
than productive Indians. America's not an idea to people and
a place, and those people are not Indians, So therefore

(01:20:34):
no Indians should be allowed in. Don't bring Indians in
and let's not have a trade deal with India that
allows for visas like with China. We talked about this
yesterday that Trump is allowing six hundred thousand Chinese students
to come to America, and Maga is not happy, not happy.

Speaker 3 (01:20:57):
All right, all right, let's say uh oh we yeah,

(01:21:21):
I think we're done.

Speaker 1 (01:21:22):
That is the news for September. Second, thank you everybody
appreciate that. We will now shift our attention to the
super chat. We got a bunch of questions, so and
I'm not supposed to mention super chat, but the questions
to your questions. Shift attention to your questions. I'll just

(01:21:43):
say you can still ask questions, just to remind you
you can still ask questions as we answer these questions.
All right, let us all right, I'm going to ignore

(01:22:06):
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(01:23:09):
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think you'll enjoy the interview anyway. What else did I

(01:23:29):
want to? Yes? Iron Institute. I know an institute is
now taking registrations for classes that start in October for
Iroland Live. These are the old AIRU courses, but now
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(01:23:50):
ten percent. Here's your diskind of code twenty five YBS ten,
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(01:24:12):
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(01:24:56):
the world expert on all things energy related, had a
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and you will get a lot of that and a
lot of insight into what is going on on the

(01:25:16):
energy front and what is going on in the United States,
What is going on globally? What is going on in
the Trumpet administration? All forgot the energy, climate change, environmental regulation.
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Alex Epstein substi dot com. Do it. Do it. It's
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(01:25:41):
grow and elevate Alex Epstein's voice on these issues, one
of the most important voices in our culture. All right,
let's jump in Bond. James Bond says happy Atlash Shrug Day.

(01:26:01):
So today is September second, September second. Is Atlas Shrug Day?
It is? It's It's September second. Is mentioned in Atlas
Shrugged right in what is it the first page or something?
And yes, Atlas Shrug Day is here. It's on September second.

(01:26:24):
September second is also the day in twenty twenty eight
that the Island Istry will be opening. It's will be
opening its new headquarters, Museum, Experience centerrand irand Center in Austin, Texas.
That'll be on September second, twenty twenty eight, three years

(01:26:47):
from today. It's going to happen. All right, Thank you, Bonchasman.
There was fifty dollars, well, fifty euro even better than
fifty dollars. Really really appreciate that, all right, Jennifer. It's
true crime has been worstening. It's true crime has been
worsening in Alaska over the last twenty years. Unfortunately, Alaska

(01:27:07):
Natives are increasingly told they can't succeed and need welfare.
It's sad considering all the natural resources Alaska contained. Yeah,
and if you think about the natural resources, the way
they're being used is by providing welfare. Right, So, there
is a fund in Alaska that basically gets royalties from

(01:27:28):
all the natural resources, and that fund very similar to
the way it's done in no way, no, actually different
than the way it's done in a way. This fund
is then distributed to the residents of Alaska, provide them
in a sense with a universal basic income or with
a warfare check. Welfare is corrupting. Giving people money with

(01:27:50):
no strings attached is corrupting. They did nothing to gain
those natural resources, literally nothing. They weren't even born on
the land where the natural resources are, so they have
no property rights over that land. So yes, I mean
Alaska should be a wealthy place, it should be a
safe place. And yet, just like with the American Native Americans,

(01:28:13):
with the Indians, the way the governments treated them has
caused an increase in alcoholism and drug use and in crime.
It's just a travesty the way we still not just
the way we did it, but the way we still
treat American Indians as wards of the state instead of

(01:28:35):
independent individuals, able, capable, competent to take care of themselves.
And the same should be joined Alaska, right, Ryan, we
who being this is a quote, Yes, we who being

(01:28:58):
called materialists by the killers of the human spirit. We're
the only ones who know how little value or meaning
there is a material object as such, because we're the
ones who create their value and meaning. So this is
some gold speech, I think, uh, and it is. This
is the producers. Production is about thinking. It's about the

(01:29:26):
human mind. It's not about the material stuff. It's not
about material objects. It's about the ability to create those
material objects. It's what the labor theory value doesn't get,
what's Marxism doesn't get. It's what socialism and communism don't get.
It's what those kids debating Patrick bin David don't get.

(01:29:46):
It's a kind of argument. Patrick Bindavid can't make. But
this is exactly an argument needs to be made. All
their material well being requires a mind. That mind requires freedom.
You will not get that material well being under the
utopian dream. It's just a fantasy. Material well does not

(01:30:09):
grow on trees, does not fall from heaven like manner,
AI will not produce it. It requires free human beings
to produce the things that we require we need in
order to live as human beings life. And does the

(01:30:32):
anti trade sentiment come from tribalism and fear of the other.
On one hand, it's reasonable to decline trade that might
prolong our culture's anti ethical to your own Russia and
Saudi Arabia. But can it still be win win? Yeah,
I mean it. Trade is win win, Even trade with
Saudi Arabia and Russia is win win. That's the problem.

(01:30:54):
Do you want Russia to win and you might not?
I mean it depends you define Russia now whether you
view them as a as a real threat and an enemy.
If they are an enemy of the United States. To
find that way, then you don't want it to win,
and therefore trade should be banned. But yes, anti trade

(01:31:14):
comes from a number of differ things. It comes to
tribalism and fear of the other. It also comes from
a perceptual level mentality that views the world a zero sung.
Now note that the perceptual level mentality, the zero some mentality,
is also a tribal mentality. It's a mentality that cannot conceptualize,

(01:31:38):
cannot think deeply about the value of the individual. It
cannot reason, It cannot use reason or to survive. And
if all latches on to the group that will provide
it with protection and provide it with the answers. So
the fundamental cause of anti trade is the perceptual mentality,

(01:32:02):
the the the the, the perceptual mentality that views the
world as zero sum. They can't understand the win win
nature of trade. But that is also the mentality that
leads to tribalism. So the the proximate cause of the
anti trade or the immediate cause of the anti trade sentiment,
is that tribalism says mine, mine, and you know, only

(01:32:31):
people like me, only people look like me. I don't
want to I don't want the other, I hate the other,
I despise the other. So absolutely that comes from tribalism
and also says can rush can Russia to win by
having better ideas rub off on them through trade. Sure,

(01:32:52):
and that's why not really, but because we're not really
interested in having ideas to rub off in other countries.
I mean, it would be nice, but that's not the
purpose of trade. The point is this, if somebody is
an enemy, they're literally shooting at you, or they're about
to shoot at you, or there's a risk that shoot
at you, you don't want to risk it. You don't

(01:33:14):
want to risk giving them an economic win. If they're
not quite there, they're like Saudi Arabia, they are quantia
that's anti ethical to yours. But they're not gonna shoot
at you. They're not literally an enemy right now of
the United States. Then in that case, should trade with
them and hope that ideas rub off on them and
they become better and therefore the world is a better place.

(01:33:38):
And this is why it's really really important to define
what is an enemy. This is why I believe we
should trade with Cuba, we should trade with Venezuela. Not
because I have any sympathy for their regimes, and I
personally would not trade with Cuba, but they're not an

(01:33:59):
enemy in a sense that they're not going to invade
the United States not killing Americans, And there is this potential,
as Livin says, that when you trade with them, the
good ideas will rub off on them. But if somebody
is literally trying to blow you up Iran, for example,
then you don't trade with somebody trying to blow you

(01:34:21):
up and give them a win, give them resources money
to blow you up even faster. Maybe the ideas will
rub off. Maybe it'll take three decades for the ideas
to rub off. The ideas haven't rubbed off yet on China,
not completely, not the only clothes, so it can take

(01:34:44):
a long time for the ideas to rub off. And
some countries that are threatening you, you shouldn't give them
that time. You know what I didn't do. I didn't
think all the stick of people. So let me thank them.
Jose just did a fifty dollars kah, thank you. O
was really really really appreciate that. That is fantastic, thank you. Yeah,

(01:35:09):
all right, let's see what else we have. Troy, of course,
the five hundred Australian dollars. Really appreciate that, Troy, thank you.
Hesitate economy a couple of times, three times. Jonathan Honing,
I know, did a few of these, Alan, thank you,
and I'll thank the people who made a few statements

(01:35:33):
in a minute. But let's see if I missed anybody.
I got Jonathan again, Mary, Mary, thank you for the staker, Greg,
thank you, John Adyef Yeah, thank you. Guys. Really appreciate
the support. You have been great. All right, Najibaje agree
with them Part one. I understand this is a multi

(01:35:57):
generational battle. I don't much mind the way time, but
the fact that we're not even moving in the right
direction is infuriating. Two generations after that the shrug. We
should be on the verge of privatizing soial security instead
of praying the Supreme Court overthrows tariffs. I don't know
what standard you're using. I mean, it would be nice

(01:36:19):
if we were on the verge of privatizing soial security.
But how do you how do you come at two
generations after thatld shrug? We should be X, what's the algorithm?
What's the way in which we're thinking about this? You know,
how do I die spread? How quickly did they spread?
How quickly did they spread? To whom? Whom is it

(01:36:42):
important to have them spread? So? I don't I don't know.
I mean, you have to have a theory. I have
a theory, and that theory says, no privatist sal security
is going to take a long time. Much more than
two generations doesn't come close. Ideas spread slowly, the the

(01:37:06):
the advocacy for those ideas takes a lot. It takes
a long time to have an impact. It's a numbers game,
and it's very difficult to get those numbers when you're
so out of the mainstream. So you have to have
a theory of how intellectual movements impact the world and

(01:37:30):
how that, how that happens, how that you know moves
and over what time thing. And I don't think you
have I think I think you're just demoting in a sense,
right not to be insulting, right, I'm not, That's not
my intent, But you're just saying, you know, this is
what I think based on what I think. This takes

(01:37:56):
a very very, very long time. You get I ran,
then you get a Lina peakoff, Then you get three
or four of the intellectuals to get a Linar peakoff.
Then you get ten, then you get one hundred, then
you get a thousand. Now you're starting to talk about
having an impact on the culture. I mean on scale

(01:38:16):
a thousand intellectuals. But that takes a long time if
you think about an intellectuous career. I mean, and that's
many generations. There's Iran's generation, Lennard's generation, Harry's generation, Gret
you know, on Call's generation, and a new generation. Now
they're all separated by a couple of decades, almost a generation,

(01:38:40):
and then we've still got generations to go to get
to a thousand. It takes time, a long time. Sadly,
neo ran such as shift to said a shift to
capitalism must be STRATEGI cannot suddenly. But I suspect if
it happened, socialists will still claim credit since statuss will

(01:39:04):
be the ones guiding it. Well, status won't be guiding it,
I mean, or at least they'll be less status than
ever before. There'll be people that have a vision for
what it should look like in the future. And if

(01:39:26):
it's really a shift, if it's really going to happen
over time and it's not clearly, there will be status
they could be. I mean, even objective is achieving power.
Are not going to shift capitalism suddenly. It's going to
be strategically. So I guess I don't quite understand the question,

(01:39:49):
and the status will be less status. There is such
a thing as gradation of statism. Less statism is better
than most statism. Shaw's bat is quoting and Or from
and or the show on Disney. How do we win?
We lose and lose and lose until we're ready. That's

(01:40:14):
the rebel mentor to rebel recruits. Yeah, I mean, that's
absolutely right. You're not gonna win until you lose a lot.
It takes a long time, It takes a lot of losses,
and it seems desperate, but it is what it is.

(01:40:34):
M Greg Lewis says, why B rights YBS rights? I'm
not sure what that is? All right, thank you? I
think he just wrote something for the for the for
the for to count towards the thirty. Uh. Milko says,
here we are, thank you, Milko. I'll see you on Saturday.
Liam says, did Trump being a compulsive liar and repressor

(01:40:58):
is causing his health to decay? Its possible he doesn't
make it out of a second term. I look, he's
what seventy eight eighty, I don't know how old he is,
seventy eight, seventy nine. Yeah, I mean, there's a good pubbleity.
He doesn't make it out of this term. I mean,
your life expectancy at this age is I mean, there's
a real risk, lots of risks, and being a compulsive

(01:41:21):
lion of repressor doesn't help your health. It doesn't. So
how bad is he gonna? You know, I don't know,
but it doesn't I think right now it's just conspiracy
theories and nonsense. But yeah, I wouldn't be surprised if
Trump got ill. I wouldn't be surprised if he dropped Getter,
wouldn't be surprised if he hadn't developed dementia, domin developed anything.

(01:41:46):
There's no I mean, he's just at that age where
these things happen. John, Okay, stickers must not be being counted.
I think early on it wasn't counting everything, but then
it started counting everything, So I don't know it was
I'll complain, Clark, this doesn't feel like pre Nazi Germany

(01:42:06):
to you at all. I mean, it's got elements of it,
but no, it doesn't. I mean one of the reasons
is that, literally, I mean, what do you mean by
pre Nazi Germany? But there was opposition, There wasn't that
much opposition once Hitler took power and once he started rolling.

(01:42:29):
And I think there is opposition today. There's a vast
number of Americans who oppose what is happening. But yeah,
there's definitely a sense of we're heading towards greater and
greater statism, more and more palitarianism, and potential fascism. There's
no question. And I keeps saying that, I just don't
think it's Nazism that what we're going to get. Don't

(01:42:51):
expect the same thing to repeat. Daniel says the US
conducted illegal strike on a vessel lead leaving Venezuela. Yeah,
I mean the building up didn't excuse to do something
in Venezuela militarily. There's no question they'll say that the
legal strike is the vessel is carrying drugs, and that's

(01:43:14):
the justification for the legal strike. One drugs is a war,
and it's not a war of self defense, and it's
a pretty stupid war to be engaged in. But it's
par for the course for Trump. Ryan, what is the
best way to monitor the flow of investment in capital

(01:43:38):
out of the US. Is this easy to see amongst
all the other economic data out there things? Yeah, I
mean you should be able to see that. I mean suddenly,
if it's going out of the US, you would see
the dollar decline a lot more than its declining, but

(01:43:58):
the fact that it's declining some of that. But you
would also see net investment change. You would look at
net foreign investment how much how much money is leaving
the United States versus how much money is flowing in.
And a lot of money continues to flow into the
United States. So there a variety of different measures you

(01:44:21):
can look and it doesn't look like people are pulling
money out of the US. Although people are generally more
reluctant to whole dollars, the dollar is getting cheaper. Friend
Harper says, keep up the good work. Thank you, fend Harper,
thanks for the support, Udif says company YouTube, thank you.

(01:44:43):
Rdf Ryan says. If ever the pleasure of one has
to be bought by the pain of other of another,
they better be no trade at all. Yes, a trade
by which one gains and the other losers is fraud. Well,
it might not be a fraud because one party might
be a masochist or a sacrificer, but you know, ultimately

(01:45:10):
lose when trades turn into lose lose, So be aware.
Do you really want to deal with a sacrificer? Do
you really want to deal with a massachist? No? And
you should walk away from trades like that. So in
that sense, absolutely, even if it's all upfront and everybody
knows about it, not healthy, not good for you, just

(01:45:33):
like Mary Ellen. Yo, dude, hey Mary Allen? Is it?
Thank you? Marilyn? Is it the economy? A bit ago,
you said young people don't need to focus on savings,
but modest investing index funds early compound safely greatly. Why wait, Well,

(01:45:55):
I mean I didn't say you shouldn't. I said when
you're when you're young, you're not making a lot of money.
You've got to live, and it's better to live and
to invest in yourself. Invest in your education, invest in
having a decent place to live, invest in having a car,

(01:46:16):
having a way to invest in a good computer, invest
in those kind of things that make you more productive,
and savings will come. Because if you if you invest
in making yourself more productive when you're young and still
enjoy life, don't view life when you're young as a
sacrifice for when I'm old, Because I mean, no point

(01:46:42):
in your life should be a sacrifice for something, but
invest so live live decently. You know, you don't have
to be lavish, and you don't have to extravagance, and
you don't have to be wasteful, but also don't feel
like you have to pinch pennies when you're making a
good living, and you know, buy the things that are

(01:47:06):
crucial for you to live well and to make it
possible for you to become more productive in the future.
So there's plenty of time when you're young to be investing,
to be saving. And I get it that some people
say you should start young because that develops a habit
of saving, and there's something to be said for that.

(01:47:28):
But I'm assuming that when you reach the point where
saving is required and needed and you have enough money
to save, then you'll do it. When you're young. You
just don't have a lot of money to say. Now, look,
if you're young and you're making half a million dollars
a year, yeah, save, there's no reason you should be
spending half a million dollars a year. But if you're

(01:47:49):
young and you're making one hundred thousand a year, seventy
thousand a year, sixty thousand a year, then it's just
not enough to really be saving. If you believe that
you're in potential in the future, is greater invest in
making sure that you can get to the point where
you're making one hundred two hundred three hundred four hundred
thousand a year in your future. Michael says, this is

(01:48:15):
completely different to what we were told as children. Yeah,
most of what I say is completely different than what
you were told as children. I'm focused on living, actual living,
not ondoing duty and not on sacrificing and not on
suffering for some goal in the future. Living and part
of living is to live and have to think about

(01:48:40):
the future. But the main way when you're young to
think about the future is invest in your skill set
so that you can be rich in the future. That's
the main thing you should be investing in, building contacts,
having the right equipment so you can do your job
well well. Getting educated and educated I don't mean necessarily

(01:49:04):
going to university, but educating yourself, figuring out right now,
figuring out how to use AI, spending time on that.
Doing things like that, I'm much more important than putting
money aside for a rainy day. Now, as you get older,
as you enter your thirties, and suddenly as you get
into your forties, you better start saving and you better

(01:49:25):
start making more money. But invest in your future rather
than invest in the stock market. Yeah, much more control
over your future as well. That is my That is
my view of investing. Kim says intellectuals are only hope

(01:49:49):
for the objectives movement. I mean, I don't know what
else there is. I mean, objectivism is a philosophical movement.
How can you have a philosophical movement without an intellectuals.
It's a philosophy. Somebody has to be able to explain, teach, articulate,
apply the philosophy. So it relies on intellectuals. Now, it

(01:50:22):
maybe doesn't rely on intellectuals right now. Maybe you can say, Okay,
they're not going to be any objectives intellectuals the next
ten years, but then there'll be intill at some point
they have to be intellectuals. Otherwise objectivesm cannot grow to
a point of prominence in the culture. Intellectuals of what
shape the world? Now it can't only be intellectuals. So

(01:50:46):
it's it's going to be great. It's going to be
great to have businessmen who are successful scientists, are successful engineers,
is successful. Who say a projectivist and my success, I
owe much of my success to my objectivism. That will
also help, and that'll give us a huge boost forward.

(01:51:11):
But somebody has to articulate a philosophical case for all
of this, And who can do that other than intellectuals.
That's their profession, that's their job. Most people are too
busy living to be able to be communicators of an ideas.
Communicators of ideas are by definition intellectuals, Raphel says, hey 'ron.

(01:51:35):
Most debates have framed as capitalism versus socialism, where the
takeaway is let's avoid extremes and go for social democracy.
Don't you think the focus should be against social democracy? Yes? Absolutely,
but the audience you know, and usually I have to say,

(01:51:57):
usually when I debate people on socialism, it boils down
to me debating against social democracy because they want to
moderate their socialist position. They don't want it to be extreme.
Sometimes that debate socialists like I will be debating a
real socialist on November thirteenth in Colorado Springs, and you

(01:52:18):
guys are all invited. By the way, Ben, I think
you need a debate both. It's more difficult to debate
a social democracy guide the slip rear. They don't believe
in anything, they don't stand for anything. But yeah, you
need to debate both. And the social democracy is what

(01:52:42):
I find out often land up debating when I debate
a socialists because they don't want to actually own the
means of production. They want more welfare. That's what Bernie
Sanders wants, more welfare. Yeah, Chandler, you invite, can come,
you can come. James Taylor says, Notice how the right

(01:53:09):
only cares about free speech when it defends racism. They're
upset Europeans being arrested for writing racist and tribalist comments,
not because they believe in any kind of absolute right
to speech, but because they want more xenophobia and tribalist
views expressed in the West. I mean, I think that's right,
but it's still absolutely right that if you're going to

(01:53:31):
defend free speech, you have to defend the right of
racist to be racists. And the testers are they going
to defend the right of Muslims to advocate for Islam?
And are they going to defend the right of communists
advocate for communism and the right of socialist advocate for socialism.
We as defenders the true defenders of free speech have

(01:53:54):
to defend the right of all those groups to defend
to articulate decades. But I think you're right they motivate.
The motivation of the European right is not free speech,
qua free speech, quite enlightenment value of free speech. Their
motivation is they want more racist speech. They don't want
to be silenced themselves. Friend Harper thoughts in the emotion

(01:54:17):
of fear, what does the world would identify causes? It
identifies threats, So that identifies threats to you, to your life,
to your ultimately to your values. Fear is not is
a good emotion. It's an important emotion. It's really what
you do with it. It's it's important to be afraid

(01:54:39):
of things that threaten you because it's a signal, Huh,
I need I need to protect myself, I need to
do something, I need to figure this out. It's some
the emotion that's a problem. The emotion is important because
it elevates to your awareness this risk that if you know,

(01:55:02):
if it's based on facts, and the problem is when
the fear overwhelms you and becomes the motivation for all
your actions and you lose the ability to be objective
about the fear, you lose the capacity to actually engage

(01:55:25):
with the facts. You're paralyzed by that fear. So it
identifies threats to your values. It's caused by the existence
of threats, by the reality of that threat. Right And says,

(01:55:48):
I think the less you're you're able to interpret reality
using your own mind, the easy it is for someone
to convince you times are terrible and things are bad. Absolutely, absolutely,
I mean, at the end of the day, the core
problem is educational system and the fact that people can't
interpre of things for themselves. They can't understand the world

(01:56:11):
for themselves. They don't know how to do that, they
don't have the skill set to do it, and that
leaves the vulnerable to the modern intellectuals who are motivated
to convince them that things are bad because then the
solution it's going to end, but I can save it.

(01:56:31):
Vote for me, give me your money. By the way,
we're only seventy two dollars short of I think half
an hour's past. Only seventy two dollars short of our
three hour goal seven and fifty dollars. It would be
great if we could achieve our three hour goal. We
are going to enter our third hour in two minutes.

(01:56:52):
So yeah, stickers, we've done great today, so thank you.
But if we can achieve the seven fifty, that even better.
I mean yesterday we achieved it. It would be great
to do it two days in a row. But for
that we need seventy two dollars. So if somebody wants
to do a sticker or ask more questions, jump in.

(01:57:13):
If Evil Ticky do Scotis actually need to take any
of these cases, can't they pass? And then the low
code ruling stands, Yes, that's absolutely right, they can, and
maybe they will. I have a feeling, given the gravity,
given the importance of these cases, given the pressure the

(01:57:33):
Trump is going to put on them and on the
judiciary more broadly, that they will take many of these cases,
or at least the bigger ones, the tariffs, maybe this
one about deploying troops into cities. Some of these bigger
ones I think they will will take, but you're right,
they don't have to, and given how full their docut is,

(01:57:54):
maybe they won't take them all. Michael Kaufman, thank you
for the sticker, really appreciated, and I just saw one
from Nate. Nate, thank you, really appreciate the supports with
down to just just seventy dollars short of that magic

(01:58:15):
seven hundred and fifty. All right, Mary Eli says she
wants a flying car, me too, Mary Mary says, okay,
here it is. Thank you, Mary Matt. If you were
a young person dating in the modern era, how would
you feel about seeing being with the girl who posts
racy pictures of herself on social media? I mean, it

(01:58:42):
depends how racy they are, right, I mean that parstibly,
But I would ask myself why is she doing that?
What is her motivation? I would confront her about it
and ask her that. I mean, I see, I think
young people today obsessed with selfies, the obsessed with taking
pictures of themselves. I don't see anything negative about, you know,

(01:59:08):
sexy pictures, sexy photographs. So again, it depends on how
racy they are. But what is the obsession of posting
pictures on social media? To begin with? Why are you
posting these? I would just want to get more insight
into the reasons, and they might be completely acceptable, reasonable

(01:59:30):
reasons for doing it, so I wouldn't rule out such
a goal, but I would want to know more about
her motivation and her personality. Is this a narcissism? Is it,
you know, a need to be to be you know?
Is it some form of exhibitionism? Is it a need

(01:59:54):
to be seen? I mean, what about women to just
dress pretty racy on a day to day basis? Never
mind social media is just walking the street that way?
I mean, is that bad? If a woman takes pride
enjoy in her sexyness, I think it's a positive, But

(02:00:15):
it really depends on their motivation. What is motivating? Is
it the yeah, I'm sexy and you don't deal with
it kind of attitude? And I like the fact that
I'm sexy. I'm embracing the fact that I'm sexy and
this is part of who I am. This is cool.
That's one attitude which I'm positively kind to would towards,

(02:00:38):
versus the attitude of look at me, please look at me.
I need attention. I need to be the center of
your focus, which is a bad attitude. So it really depends.
All right, let's see, don't think it's necessarily narcissistic. In

(02:01:01):
other words, Jose, do you see intellectual movement in Puerto Rico?
I don't. I mean, there's one free market think tank
in Puerto Rico. It's kind of sad, but they've never
really I had lunch with a guy who runs it
when he's start early on, and I've offered a help

(02:01:24):
and I've offered to do stuff for them, and they've
never contacted me. So, but I don't see any other
intellectual really network developing in Puerto Rico, which there was.
I'm there happy to help and support such a network
if it was happening. There's such a movement if it

(02:01:46):
was happening, but I just don't see it now. Granted
I don't speak Spanish, which is a big disadvantage in
Puerto Rico. But all right, Ryan, any plans for the
New Year's Show? Yeah, I mean it's September ready, I know,
no concrete ones. I'll start thinking about that when I
get back home, and it would be nice to kind

(02:02:08):
of line up maybe a series of interviews, like maybe
I have Alex come on, and maybe you have a
bunch of other people come on the show during New
Years just to do like fifteen to twenty minute short
like what's going on, what's happening, or why they support
their on book show or something like that. But generally
we'll be I think the goal this year will definitely

(02:02:29):
be twenty thousand dollars. I think that was the goal
last year, so I'll have to go back and check,
but yeah, it's going to be ambitious. We're going to
go for big, big dollars and it'll be a lot
of fun. It'll be unbelievably long, and I'll try to
get other people to participate so that make it more interesting.

(02:02:52):
All right, last question for Peter. People trying to rationalize
the action of an orange non entity reminds me of
a medieval scholastics trying to make sense of a different nonentity. Yeah,
I mean there's a lot of similarity. Faith is involved,

(02:03:12):
mindlessness is involved, and a lot of rationalization. A lot
of rationalization is involved. All right, guys, you were great today.
Thank you to everybody. We did great on the superchat
and we achieved YouTube's goal of thirty in an hour.

(02:03:34):
That was amazing, so thank you for that. I left
to bump it up at the fifty next time to
challenge you guys, and so thank you all. The superchat
is thank you again to Troy for the five hundred
Australian dollars. That was amazing. Thank you for you guys.
Who did fifty bucks and I will see you tomorrow tomorrow.

(02:03:57):
The show will be a little later, will be an
hour later, I don't think more than that. So four
pm Eastern time tomorrow, and then I think will either
be at four or five pm on Thursday and Friday.
So have a great rest of your week. I am
going to the Fizzi Gallery tomorrow, one of the great,

(02:04:18):
great great art galleries in the world. I'm going to
go tomorrow. Including in my ticket is access to the
secret corridor the connects the Fizzi Gallery somewhere I'll tell
you tomorrow way connects to the Medici could go for
I also want to show you some tomorrow, if I

(02:04:40):
can get myself organized. I want to show you some
photos from the Basilica scent Quotcee, which which is just
amazing because it houses the it's a burial site of

(02:05:03):
so many geniuses that it's truly an amazing place. And
then it has plaques to commemorate other geniuses, all affiliated
in one way or another with Florence. I mean, and that's
an interesting question to ask ourselves, why during a Suddain
period of time in history that so many height I

(02:05:26):
Q we'll use it i Q as a measure. You know, geniuses.
So many geniuses were born in one place during a
short period of time. Why were so many? Why does
that happen? And if IQ it's just genes, how did
that happen, you know, just in a place like Florence.

(02:05:49):
Maybe it's not just genes. Maybe there's something else going on. Anyway,
we'll talk about that. I want to talk about Florence
and the proliferation of genius is influence, which is really
really interesting. See tomorrow and bye everybody.

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Troops in the Streets, Trump’s Decline & America’s Economic Lies | Yaron Brook Show

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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;}Troops in the Streets, Trump’s Decline & America’s Economic Lies | Yaron Brook Show