PM Show Hr 1 | Yesterday's Conspiracy Theory is Tomorrow's Revelation

Episode Transcript

Speaker 1 (00:04):
It's that time.

Speaker 2 (00:05):
Time, time, time, luck and load change.

Speaker 1 (00:11):
To Michael Arry Show is on the air.

Speaker 3 (00:15):
America first includes all Americans, regardless of their race, their gender,
or their sexual orientation.

Speaker 1 (00:24):
Why don't weliver?

Speaker 4 (00:26):
These United States were the ones who needed work.

Speaker 1 (00:32):
Let the rest of the world help us wachmange and
let's rebuild.

Speaker 4 (00:38):
The Mary first powerh is ri desert, fun far, who's less?

Speaker 1 (00:47):
Who has been cursed?

Speaker 4 (00:50):
There's things to be down all.

Speaker 1 (00:53):
Over the world, but let's rebuild them.

Speaker 5 (00:56):
Mary.

Speaker 3 (00:57):
Our message to Black Americans tonight is this, we want
you what we want for every American. Safe neighborhoods, good jobs,
clean streets, a country where you are judged based on
the content of your character, not the color of your
skin or your political beliefs.

Speaker 4 (01:17):
Only he and watching that whos in charge of it all? God,
let's disarmy got this alibertye that guns the risk of
it all, g mad posision of back and away, free

(01:39):
Emson stuck in. Let's get out of rack, get back
on the.

Speaker 1 (01:46):
Track, and let's rebuild and marry the first.

Speaker 3 (01:52):
Our message to gay Americans tonight is this, You're free
to marry who you want, if you want, without the government.

Speaker 1 (01:59):
Standing in your walk small, But that doesn't mean.

Speaker 3 (02:02):
That boys get to compete with girls and girls sports,
or you do genital mutilation and chemical castration on our children.

Speaker 4 (02:09):
Why don't deliver right? These are United States, We're the
ones who need it the most.

Speaker 1 (02:18):
You think I'm blowing to smoke bars.

Speaker 4 (02:21):
It ain't no dose.

Speaker 1 (02:22):
I make twenty to fift years coast cold.

Speaker 3 (02:25):
You get ahead in the United States with your own
hard work, your own commitment, your own dedication, and that
you know what, You are free to speak your mind
at every step of the way.

Speaker 1 (02:36):
That is the American dream. That is what we are
running too.

Speaker 3 (02:40):
And that is what we get when we send Donald Trump.

Speaker 1 (02:42):
Back to the White House. If that doesn't fry up,
and your wood is wet. What Ted Cruise's father said
one time in a speech, and it's stuck with me
for the year. He was an evangelical preacher, still is,

(03:04):
but I mean he preached a lot back in the day,
and that was one of his lines that he would
use when he would recite one of his favorite verses.
It was a call to action or a great comfort.
He say. If that doesn't fire you up, then you're
wood is wet. I love it. I love it. Well,

(03:25):
the blame game is in full effect. President Trump has
his highest approval ratings since twenty twenty. He is beloved
for the actions he's taking, but it's kind of one
of those deals where he's got to hit a home
run every time.

Speaker 5 (03:43):
Up.

Speaker 1 (03:45):
If he strikes out on one thing, they're going to
pile on. And they're telling people constantly things are bad.
You're not happy, things are bad. You're not happy. Hello, sir,
just checking. Do you think things are bad?

Speaker 5 (04:00):
Oh?

Speaker 1 (04:00):
No, yes, it seems like they are. Are you happy? Welcome?
Think of it? No, I'm not. It is it is
leading the witness, shall we say so? They're going to
blame all of the problems that were caused during the
Biden administration on Trump. You know how this happens, right,

(04:20):
Because there's a lag, Right, there's a tail to when
these things happen. The full effect of bad policies takes
some time to occur. It's just a fact. So the
Federal Reserve Chairman Jerome Powell, who is no fan of Trump,

(04:42):
is now blaming recent price increases even as prices have
started to come down. On tariffs, Well, the tariffs don't
even take effect April second, So how are the tariffs

(05:04):
increasing prices if they haven't been applied yet, there's no
fee to pay on it. So why is he saying
that because he wants to blame Trump because he doesn't
like tariffs. He personally doesn't like tariffs, and we know
this from the statements he's made. But here is him
trying to blame Trump. Here is him just like the

(05:25):
district court judges around the country. Everybody wants to be
everybody wants to rule the world. Everybody wants to be
president who is not president?

Speaker 6 (05:35):
Okay, So how much of it is is tariff? So
let me say that it is going to be very
difficult to have a precise assessment of how much of
inflation is coming from tariffs and from other and that's
already the case. You may have seen that goods inflation
moved up pretty significantly in the first two months of
the year.

Speaker 1 (05:55):
Trying to track that back to actual.

Speaker 6 (05:58):
Tariff increases given what was tariff and what was not,
very very challenging. So some of it, the answer is
clearly some of it. A good part of it is
coming from tariffs. But we'll be working and so will
other forecasters, to try to find the best possible way
to separate non tariff inflation from tariff inflation.

Speaker 1 (06:19):
Milton Friedman has told us again and again it is
a scientific fact. The reason for inflation is overly abundant
money supply. Too much money in circulation causes inflation. What

(06:39):
happened was you started seeing the policies that led to
an inflationary effect when the trumpet, when the Bush administration,
Remember you had all the bailouts and you had a
bunch of money pumped into Wall Street rewarding bad actors. Oh,

(07:04):
a few were allowed to fall away Layman Brothers, but
that was really just so someone else could scoop in,
could swoop in and scoop up cheap assets. We have
had policies dedicated to rewarding bad actors for a long time.
And the way they reward them is you get to

(07:25):
keep your upside, but you're too big to fail on
the downside. If you could go in and play blackjack
and you've got you're showing sixteen, dealers showing seventeen, and
you could hit and if you win, if you get

(07:47):
a five or lower, you take your cash. If you
get a six or above and bust, well, that's fine,
you don't. You still get to keep your cash. You
don't make any, but you don't lose any. This type
of effect led to reckless Wall Street policies, and it
led to horrible inflation, and then you had the quantitative

(08:10):
easy with the q E one q E two. That's
why we are suffering with horrible inflation. And now you
got to get these addicts off this government spending, and
that's why they're pushing back against Elon and Trump. That's
what this is about. Michael Berry show, I saw a

(08:30):
CNN pole a few days ago, and I made a
note about it and pulled the audio to use later,
and now is later. It shows a massive change in
who is most likely to believe conspiracy theories. Now, Harry

(08:51):
Entton on CNN is talking about the fact that Republicans
are more likely than Democrats to think that JFK was
killed in a conspiracy. As you listen to this, I
want you to come to your own answer as to
why you think that may be the case.

Speaker 2 (09:11):
The percentage of conspiracy theorists who believed that the United
States government was involved in the JFK assassination has gone
up over the past ten years. It is now the
plurality leader compared to the conspiracy theorist they used to
think of someone. Hey, maybe it was Cuba, Maybe it
was the mob. That's actually down from forty percent to.

Speaker 1 (09:29):
Twenty nine percent.

Speaker 2 (09:30):
And the overall number of folks who believe in the
conspiracy theory that JFK was killed by more than one.

Speaker 1 (09:34):
Man is also up.

Speaker 5 (09:36):
So in this thing of we are in this odd
conspiracy fueld moment, I guess that fits right right there.

Speaker 1 (09:41):
More people believe it, all right.

Speaker 5 (09:42):
Trump himself has has talked about conspiracies about this death,
including one linking Oswald famously to Ted Cruz's father.

Speaker 2 (09:52):
Okay, remember that one Kasa was with Lee Harvey Oswald
prior to Oswald being.

Speaker 1 (10:00):
You know, God, I mean, the whole thing is ridiculous.

Speaker 3 (10:02):
I mean, what would what would he be doing with
Lee Harvey.

Speaker 1 (10:05):
Oswold right shortly before the death, before the shooting. It's crazy, simple, Okay.
That theory, I just want to know was based on.

Speaker 3 (10:14):
A National Inquirer story that the former publisher testified during
Trump's trial last spring.

Speaker 5 (10:20):
Was made up.

Speaker 1 (10:22):
But Trump is not just speaking for himself, No, he's not.

Speaker 2 (10:24):
I feel like regis Philip and it's all bonkers things
that are going on. Look, the percentage of Republicans who
believe in the conspiracy theory that jf K was killed
by more than a woman is up significantly over the
last decade. Look at that, from forty nine percent to
now with a clear majority, seventy one percent, while Democrats
have fallen from sixty four percent to fifty five percent.
And that is because the Donald Trump based right, the
non college graduates, they are the most likely to believe

(10:47):
in the conspiracy theory, right, seventy three percent of them,
compared to just fifty seven percent of those who just
have a collegrary and forty four percent postgraduate degree.

Speaker 5 (10:55):
And this isn't the There are more conspiracy theories as
we were talking about, people believe them.

Speaker 2 (10:59):
Yeah, I mean, look, we've mentioned the JFK one, But
how about Obama.

Speaker 1 (11:03):
Not born in the US. A quarter of Americans?

Speaker 2 (11:05):
How about vaccines cost autism? That's up, that's nearly a
quart of Americans. And then you get ten dons of
Americans who believe the Earth is flat.

Speaker 1 (11:14):
It's crazy are here.

Speaker 2 (11:16):
I don't I don't even know what to say, but
the numbers of the numbers.

Speaker 1 (11:18):
This hollow earth under the flatness a nimbus of a numbus.
So something very interesting he notes there, he refers to
Republicans who support Donald Trump as the uneducated, the folks
who do not have a college degree. And that is
shorthand for East Coast liberals, liberal Democrats, that is shorthand

(11:43):
for hillbilly dumbasses. But what we actually know, and again
this is about once something gets a reputation, it's hard
to change it. And so there is this idea that
you know, the doctors know everything. They're the expert. If
my doctor says to take the shot, I gotta take

(12:08):
the shot because I got to trust him he's the expert. Well,
study after study after study after study after study now
has said the vaccine causes a lot of problems. It
wasn't tested properly, it wasn't effective. When Joe Biden told you,
if you get the shot, you won't you won't get COVID,

(12:30):
and if you get the shot, you won't share COVID
or past COVID, both of those were lies, and they
knew they were lies. The reason folks without the college
degree believe in conspiracy theories is because yesterday's conspiracy theory
is tomorrow's revelation. Remember that crazy oz worst one, Remember

(12:54):
that crazy conspiracy theory. In October of twenty twenty, Clinton
New York Post did a story on the fact that
what did they make up? This is crace so crazy?
Oh they said, Hunter Biden's laptop was left at a
computer repair store, and on that laptop was proof that

(13:16):
the Bidens received bribes from foreign governments, that that he
was involved in all these horrible, terrible things, and his
father was as well, that he committed all these crimes.
Remember that, And they made all that up. New York posted,
thank god before Trump, this before Elon bought it. Thank god.
Twitter banned The New York Post from telling that story,

(13:41):
and thank god in the US government went to Facebook
and said, do not allow that story to be posted,
banned people, and they did, Thank goodness because free sometimes
free speech is dangerous. And Facebook and Twitter kept that
story from getting out, and so people didn't know about that,
that conspiracy story. And then last year the US government,

(14:04):
same government that pressured Facebook to take that down, brought
a case against Hunter or exactly what they said wasn't true.
Not only was it not true, They didn't just deny,
They called it a conspiracy theory. This is what Hillary
Clinton used to do. There's a vast right wing conspiracy

(14:27):
out there trying to bring my husband down. Why do
you say that that's what they're doing. It's a vast
right wing conspiracy. Oh did he bump Monica lewinskiar didn't he?
How about Jennifer Flowers? How about all the others who
sued him? Paula uh her name Paula Jones? Are those

(14:49):
part of the vast right wing conspiracy? What are all
these people they keep coming up dead around you? What
about Whitewater? Is that all vast right wing conspiracy? Because
there's the documents? What about the Russia collusion, which, as
Greg Guttfeld noted, they claimed it was Russian collusion by
Russia and Trump to cover for the fact that there

(15:12):
was Russia Russian collusion between Hillary and Russia. Yesterday's conspiracy
theory turned out to be tomorrow's true story. Breaking news.
How about the fact that two weeks ago, Jake Tapper
released a book, Jake Tapper, who refused to allow Laura

(15:35):
Trump to say in twenty twenty that Joe Biden is
suffering from some mental decline, and Jake Tapper said, stop,
you can No, you're not going to do that. Now.
Jake Tapper has co written, which means he has a ghostwriter,
but he's going to push the book every night, a
book to talk about how shameful it is that Joe

(15:57):
Biden was in the throes of dementia and nobody, there
were no adults in the room to do anything about it.
I mean, you got to be a certain degree a
shameless that's almost admirable to pull that off. So yeah,
and you know why people without college degrees believe these
quote unquote conspiracy theories because many of them are true.
And secondly, when you don't go to college, you don't

(16:19):
get brainwashed. And this is what is killing the brand
of college itself today. The university experience is a place
to go and get drunk and watch football games and
be indoctrinated. And more and more people are saying, nah,
they are telling you what's called onesies, these little things
clothing for a baby. I like lu Goodbary sit one

(16:41):
of all these onesies. I've played for you the clip
of Chuck Schumer on the View and during the mid terms,
if the Republicans don't use this. It is such a
golden opportunity. It is in the long line of Barack
Obama saying you didn't build that, and then Chuck Schumer, well,
just listen to Chuck Schumer in his own words, and you.

Speaker 7 (17:03):
Know what their attitude is. I made my money all
by myself. How dare your government take my money for me.
I don't want to pay taxes, or I built my
company with my bare hands. How dare your government tell
me how I should treat my customers, the land and
water that I owned for my employees. They hate governments.
Government's a barrier to people, a barrier to stopped them
from doing things. They want to destroy it. We are

(17:24):
not letting them do it. And we're united.

Speaker 1 (17:28):
Okay, Then when you have to say you're united, it's
because you're not. See. The problem for Chuck Schumer is
he can never do enough to satisfy the extreme left
of his party. He can never make them happy, and
that puts him in a bad position. But if you
think that was a stupid thing to say, he's not
the Democrat who said the dumbest thing on there, the

(17:51):
last major one. And this could be the greatest of
all time. For an elected official Democrat. Certainly the most
on the line at the time was Amula Harris committing career,
Harry Cary or Harry Carey if you like. When asked
what would you do different than Joe Biden?

Speaker 8 (18:08):
If anything, would you have done something differently than President
Biden during the past four years, there is.

Speaker 5 (18:16):
Done a thing that comes to mind in terms of
and I've been a part of most of the decisions
that have had impact.

Speaker 1 (18:25):
Come on in just some look pro tip for you
here since you're running for president Joe Biden. You're running
for president because Joe Biden was going to lose and
the big boys said, hey, we cannot lose. Not only
do we have to have control of the government so
we can control all the money because we're stealing it.
But we've done very bad things to Trump. And if

(18:46):
you try to shoot the king, you better not miss.
We missed, okay. And Trump is just mean enough to
drag us to the calaboose, to put us into whoscal
to put us under the prison for what we've done.
That if he wins, he'll bring in cash. Betel Pam Bondy,
I mean, he'll be bad. Dan Bongino, we don't need

(19:06):
him being president again. We got to do whatever it takes. Okay,
So we've replaced Joe Biden. We stuck you in there
without having a primary because a primary would mean that
you ought to be fighting. Then that would expose more
of the problems. And we're already unpopular enough. So you're
our candidate. Okay, we got you as our candidate. Now
do some interviews and make people think that things are

(19:27):
gonna get much better with you as president next year
than Joe Biden. Okay, you got that. Okay. Yeah, Now,
one of the questions you're gonna get. We don't know
what all you're gonna get, but here's one. It's gonna
be for sure. You're gonna get this question. People are
gonna say, hey, Biden has screwed everything up. We're gonna
pretend you weren't part of all that, even though he
has kept saying that you are. Biden has screwed everything up.

(19:47):
What would you do different than he did? And you
need to have a list of things. Just take everything
dumb he did and say I wouldn't have done that. I
wouldn't have done that. Okay, and we'll work up a
strategy of you could say you would have done differently,
But whatever it is, you make it seem like when
they say what would you do differently than Joe Biden?
You need to say how much time do y'all have? Okay,

(20:12):
but she didn't say that. She said nothing comes to mind. Hey, Himmler,
before this firing squad blows your brains off, give us
one reason, this one reason. Gimme, what would you if
you had been Hitler? What would you have done differently?

(20:33):
Starting in about we'll go back before nineteen thirty nine,
but we'll include all the way through nineteen forty four
if you want, or forty five if you want. Let's
go back to nineteen twenty. What would you do differently
if you were hitler than you did? And based on that,
we're gona side whether to kill you or not. Oh,
I don't know. I can't think of anything. All right,
you're done. You've got Joe Biden. You got Joe Biden

(20:56):
as president, you're his vice president. We are trying our
hardest because your campaign paid us to do this. We
are trying our hardest to help you out here. We're
going to throw you the fattest pitch. This is coach pitch. Okay,
you close your eyes and we'll put it's one step
up from t ball, we will. We just put it

(21:16):
right here. You like it about waste time. Oh you're
a high swinger. Okay, we'll do it at chess high
and it's oversized softball. You just close your eyes and swing.
We'll have it right there for you don't know how
to swing. This is one of the worst flubs I
have ever heard in American politics in recorded history. And
I'm a student of this and have been for thirty

(21:38):
five years.

Speaker 8 (21:40):
If anything, which you have done something differently than President
Biden during.

Speaker 5 (21:45):
The past four years, there is done a thing that
comes to mind in terms of and I've been a
part of most of the decisions that have had impact.

Speaker 1 (21:54):
It's one of the great great gambits in American political history.
It's one of the great dilemmas a good screenwriter, a
good novelist will create. In the course of two hours.
For a movie, you immediately establish your cast. You need
the audience to invest in them. They need to want

(22:15):
good things for them. That way, when you're hero, your protagonist,
when he's put in a tough situation, you feel for him.
You want him to emerge, so that the narrative arc
of the next two hours or now five hours, these
things a want for the narrative arc for the next
two hours is him despite all odds, winning him, emerging,

(22:37):
him vanquishing those who have So you start with your
star character and he's he's a great guy. And then
he has the people around him who he loves, so
he wants to protect them, and they're going to be
exposed to great danger, so he's going to want to
fix that. And then you're introduced to the bad guys
and they're just evil. They're they're very one dimensional. They're
just evil. They want to bring evil upon him, and
you don't mind if he kills them, because they're not

(22:59):
full of people with families, and they're just they represent
evil when he represents good, and good must defeat evil.
And so you go along there and he wants to
just storm them into there and kill the bad guys,
but that might mean that the hostages would be killed first.
So you create this great dilemma. Well that's what this
movie of the last six months was about. Kamala Harris

(23:19):
had a true Abesian choice. It is the worst dilemma?
Does she say, I haven't done anything as president as
vice president for the last four years, Well, then why
should you be president? You don't have any experience, and
separate herself from Joe Biden. So either she has no
experience but don't blame for Joe Biden, or as she
chose to do, which turned out to be a mistake,

(23:40):
I've been right there beside him the whole time. Why
would I do anything differently because America hates what y'all
have done, because Americans are miserable right now. I don't
think you should be owning those decisions. I think you
should be able to say.

Speaker 9 (23:52):
To think you would, son of azard.

Speaker 5 (23:55):
She and her and a woman sitting at the table
Laryn's hat.

Speaker 1 (23:58):
I'm Michael Berry and my pronouns are v and Zar,
Michael very. Joe jd Vance gave a speech recently on
technology and artificial intelligence, and in the speech this is
where you see the difference between jd Vance and say

(24:18):
Kamala Harris or Joe Biden. Jd Vance has had a
varied life experience. You know, grew up poor, which is
not necessary to be a great leader, by the way,
or to be a renaissance man. And in fact it
makes it less likely statistically that you will end up

(24:40):
quote unquote successful in life if you start off poor,
because there are a lot of things that can get
in the way. But for those who do make it,
it becomes an asset. It gives you an empathy, it
gives you a connection, It gives you an ability to
understand other people, and it also gives an ex accessibility

(25:01):
to you to other people. Hey, he grew up poor.
Maybe I can ask his advice. He grew up poor.
Maybe he'll be willing to mentor me. Maybe he'll understand
what's happened. Maybe he won't be judgmental. And then he
goes to the Marines. That is something I haven't done,

(25:23):
but I've studied it. It's not an easy thing to do,
but he did, and it's a lifelong experience that someone
should be proud of because it changes you. It's tough
to challenge, accepted and accomplished. Then he goes to law school,

(25:49):
and while in law school, he writes a book that
is one of the most sweeping, powerful explorations of poor,
of of of poor broken life in America. I honestly

(26:15):
believe that that book is right up there with the
writings of James Baldwin or Gays, Ralph Ellison or blacks.
And I guess in that sense it's more Alex Haley

(26:36):
with Malcolm X in that it's largely autobiographical. But it's
more than just this is my story. It is It
is a It is a powerful exploration the way he
humanizes those who as he's explaining that they're making dumb decisions.

(27:01):
He lets you come to that conclusion yourself. But you
come to that conclusion. He humanizes them, and not to
elicit some sense of tacit endorsement of it, but to
bring you, the reader, an understanding of it. Why do
people make bad decisions? Why do people get addicted to

(27:23):
drugs and be unable to take care of their family.
Why when they finally get sent to rehab because they've
made they committed a crime, why do they ever try
that drug again? What leads them? What level of dumb
assy leads them to think that they can conquer that
drug that sent them to rehab, that they got out

(27:44):
of a week ago. Why do they keep moving back
and forth that's not solving their problems. They go from
one auntie to grandma to Uncle Buck. I had to
bring Uncle buck into this, so it's just amazing. He
writes book while in law school, goes on to private

(28:05):
equity mentors a long way smart, smart people like Peter Thiel.
So when JD. Vance offers an opinion to the American
Dynamism Summit, this isn't a guy who has arrived where

(28:25):
he is in life by just running for office and
making promises. This is a guy who's done things. John
Corny's never done things. He taught law and he got
elected to office. He's never run a business. He's never
had to be a big thinker. Joe Biden didn't have

(28:48):
to think it is you just keep running for office,
just keeps smiling and showing up at enough events. Kamala
Harris same way. This is a guy who has, like
Elon Musk, has succeeded across multiple platforms. Well, he's talking
here about illegal immigration being cheap labor and that it's

(29:08):
fundamentally a crutch, a crutch that inhibits innovation. This is
an extraordinarily deep point. So I'm going to ask you
if there are any distractions, block them, ount and focus,
or go back later on the podcast and listen to this.

Speaker 9 (29:26):
Right here, there were two conceits that our leadership class
had when it came to globalization. The first is assuming
that we can separate the making of things from the
design of things.

Speaker 1 (29:38):
The idea of globalization was that rich.

Speaker 9 (29:40):
Countries would move further up the value chain while the
poor countries made the simpler things. You would open an
iPhone box and it would say designed in Cupertino, California.
Now the implication, of course, is that it would be
manufactured Enginngin or somewhere else. And yeah, some people might
lose their jobs in manufacturing. They could learn to design, or,

(30:02):
to use a very popular phrase, learn to code. But
I think we got it wrong. It turns out that
the geographies that do the manufacturing get awfully good at
the designing of things. There are network effects, as you
all well understand, the firms that design products work with
firms that manufacture. They share intellectual property, they share best practices,

(30:22):
and they even sometimes share critical employees. Now, we assume
that other nations would always trail us in the value chain,
but it turns out that as they got better at
the low end of the value chain, they also started
catching up on the higher end. We were squeezed from
both ends now that was the first conceit of globalization.

Speaker 1 (30:40):
I think the second is.

Speaker 9 (30:41):
That cheap labor is fundamentally a crutch, and it's a crutch.

Speaker 1 (30:46):
That inhibits innovation. I might even say that it's a.

Speaker 9 (30:48):
Drug that too many American firms got addicted to.

Speaker 1 (30:52):
Now, if you can make a.

Speaker 9 (30:52):
Product more cheaply, it's far too easy to do that
rather than to innovate. And whether we were offshoring factories
to cheap labor economies or importing cheap labor through our
immigration system, cheap labor became the drug of Western economies.

Speaker 1 (31:09):
And I'd say that if you look in nearly every.

Speaker 9 (31:11):
Country from Canada to the UK that imported large amounts
of cheap labor, you've seen productivity stagnate. And I don't
think that's not a total happenstance. I think that the
connection is very direct. Now, one of the debates you
hear on the minimum wage, for instance, is that increases
in the minimum wage.

Speaker 1 (31:30):
Force firms to automate.

Speaker 9 (31:31):
So a higher wage in McDonald's means more chiosks, And
whatever your views on the wisdom of the minimum wage,
I'm not going to comment on that.

Speaker 1 (31:38):
Here.

Speaker 9 (31:39):
Companies innovating, and the absence of cheap labor is a
good thing. I think most of you are not worried
about getting cheaper and cheaper labor. You're worried about innovating,
about building new things. About the old formulation of technology
is doing more with less. You guys are all trying
to do more with less every single day. And so
I'd ask my friends, both on the the tech optimist

(32:01):
side and on the populace side, not to see the
failure of the logic of globalization as a failure of innovation. Indeed,
I'd say that globalization's hunger for cheap labor is a
problem precisely because it's been bad for innovation. Both our
working people are populous and our innovators gathered here today

(32:22):
have the same enemy. And the solution, I believe is
American innovation.