15 Episode results for "Rick Santelli"

Building the Anti-Lockdown Movement and Saving America

The Charlie Kirk Show

36:26 min | 5 months ago

Building the Anti-Lockdown Movement and Saving America

"Hey everybody rick. Santelli shot heard around the world. Smug and arrogant lockdown artists are trying to keep you sheltered in place against actual epidemiology and science. We talk about the need to reopen america and how we can get it done e mail us your questions. Free charlie. Kirk dot com. If you want to support us. It's charlie kirk dot com slash support. It's time to open america. Rick santelli has some choice. Words buckle up everybody here. We go charlie. What you've done is incredible here. Maybe charlie kirk is on the college campus. We are lucky to have charlie charlie. Cook's running the white house folks. I wanna thank joe. He's an incredible guy his spirit his love of this county's done amazing job building one of the most powerful for youth organisations ever created turning point. Usa he will not embrace the ideas that have destroyed countries destroyed lives and we are going to fight for freedom campuses across the country. That's why we are here. Who actually wants lockdowns to continue the activists media access if everyone wants the lockdowns to end. It's just a matter of enduring them. That's not true. The wealthiest people in our country and the most valuable companies in our country want lockdowns to go on indefinitely. Amazon has seen their stock price. Soar small businesses. The backbone of our country are struggling more than ever before. and so. who's actually standing up for the one hundred million people that work with their hands. Who's actually standing up for the fifteen million. Small businesses in our country will the corporate elite are not and the spokespeople for the corporate elite are not are not standing up for them. The spokespeople for the corporate elite want the sit down and shut up the big box. Realtors are somehow epidemiologically safer the cross country flights where you're next to each other safer than going to church. The inexplicable double standard is deserving of outrage and so a video came across my radar screen. This morning of someone that actually no. I haven't spoke to him years. Rick santelli from cnbc so a very good friend of mine who listen to this program from chicago. I made me aware of rick santelli for starting the tea party movement. We'll play that clip as well. But rick. Santelli is a commentator on cnbc. He's a chicago and he gets very excited. He broadcasts out of the chicago board of trade in downtown chicago. Where i'm from. And i was so moved by him. Starting the tea party movement. I remember taking the train to downtown chicago. Walk into the chicago. Board of trade convincing some of these security people to let me onto the chicago board of trade floor hustling my way to go meet rick santelli and eventually rick santelli said okay. You can come my program bring a couple of young people with with you and i did kind of the beginning days at turning point. Usa and kind of our efforts of what we were doing in the early stages. So rick santelli been a fighter for freedom and liberty and for our country for quite some time. He's a man of common sense. He loves our country. And he's up against this educated derelict. What's his name andrew. Ross sorkin this guy is a real problem. He's taken off. Cnbc a fool. So i wanna play this tape which is very important. This embodies and personifies the debate. That's happening in our country in real time. It is rick santelli up against andrew. Ross sorkin play tate. I just i just as a as a as a public health and public service announcement for the audience the difference between that big box retailer and a restaurant or frankly even a church are so different. It's unbelievable i do agree. I disagree. You're can have your thoughts. And i want to wear a mask science. I'm sorry it science different story. The lowe's aren't any safer than one hundred fifty people in a restaurant that holds six hundred. I don't believe it you don't have to believe it but let me just say this. You're doing a disservice to the viewer because the viewers need your viewer. You are you are. I would like to keep our viewers healthiest humanly possible. The idea packing people restaurant. I think our users part of the role that i'm much smarter different viewers like some people. Do i hope. Rick santelli starts a movement like he started the tea party movement back in two thousand ten. Let's go. Let's go through this piece by piece andrew. Ross sorkin. who's a fool says that the difference between a restaurant and a lowe's and home depot is unbelievable. So what is the difference epidemiologically between going to a local coffee shop and going into a home depot. Lowe's or home depot. Does the virus all the sudden standards guard down if the market cap of the company is billions of dollars does the virus not infect people if the owners are billionaire campaign donors and add purchasers nbc does the virus known to infect people if the companies listed in the dow thirty andrew sorkin is doing the bidding of the billionaire corporate class andrew. Ross sorkin is not worrying about people's health. He's worrying about the needs wants and interests of a very very small powerful group of people. He's a smug arrogant idiot. And a useful idiot for very powerful people and rick. Santelli is a fighter for normal people. Rick santelli says. I trust the people to make good decisions. Andrew ross sorkin coming in as a typical virtuous signaling spineless. Fool says i just care about keeping people safe no you. Don't andrew ross sorkin if you cared about keeping people safe then you would say that you would cancel all flights when people are sitting on top of each other drinking and eating things no masks on and he says well. It's science no. It's not andrew. Ross sorkin it's the scientists. You agree with big difference. The science of this virus actually goes against some of the things you're talking about. The science of this virus shows that the average of the person who dies from the chinese corona virus is actually above the average death of an american but a young person is more likely to die from an accidental firework discharged with then the chinese corona virus but andrew. Ross sorkin. Who's a new york. Cnbc hack saying all these things. A reason interestingly enough. He's the author of a book too big to fail. That's exactly what's happening here. These companies are too big to criticize so for him. He thinks homes at lowe's and home depot whole foods and the big box stores. They're safer how are they safer. Exactly you see rick. Santelli is a traditional advocate of individual liberty. He says the virus operates the same. Whether it's one hundred fifty people in a restaurant or two thousand people in a home depot. And i love that. Rick said quote. I don't think i'm smarter than our viewers like some people like andrew. Ross sorkin on cnbc and it's not just home depot by the way. How can andrew ross sorkin defend strip clubs reopening but not churches. And i think rick santelli went out of his way to mention church. Didn't he very key. Yeah i think he did. I think he's a good chicago. Catholic skip patriot loves his country. And what's so stunning. Is that andrew. Ross sorkin acts as if we're forcing people to go to restaurants. No one is forcing you to go there. No one's forcing you to do anything. Instead he's like. I just want to be clear at viewers. I care about your health. Oh by the way. I'm gonna mislead our viewers so much and i'm going to tell them that you're good to go to home depot and lowe's be are not good to go to a restaurant that's actually going to contribute more to the virus spread andrew. Ross sorkin instead what you should say both are equally have a chance for you to catch a virus. Both are instead andrew. Ross sorkin is getting a false promise and a false appearance that going very valuable companies warehouses like or home depot or whole foods. All of a sudden you're going to be protected. The big companies will protect you. Now what's been so shocking. Is how these guys that wrote these books too big to fail. We hate the billionaire class. All the sudden they're the ones now defending these massive companies that are just getting wealthier while the backbone of our country are being forced to be shuttered in place with even more stunning to me is all of these like freedom-loving libertarians. That are out there. Criticizing police brutality. And i have a lot of good friends that are libertarians. I love rand paul. I love. I agree with them on certain things. But where are they on. This lockdown issue where they actually calling for the reopening of america very few. If any are doing that and the reason why andrew ross sorkin is so in defense of the corporate structure here is good. It's all part of the great reset and jerus- organ wants the great reset. He's a liar and of course he's a columnist for the new york times which is where super over educated ivy league graduates. Go to write foolish things and get applauded for it. That's the new york times as for and so for the restaurant tour in evanston illinois for the laundromat in south bend. Indiana you don't matter to cnbc. But you do matter to rick santelli and now it's time for us to wage. The fight to fully reopen america. End all mask. Mandates and the shelter in place orders and open our country fully. I want to tell you guys about good rancher. 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Charlie i wanna get to a cut here rick santelli as we are going through this issue of rick santelli challenging the predominance viewpoint of cnbc which is to protect corporate interests and the great reset which is to abolish private property. Ruin america's role in the world and usher in a borderless society by two thousand and thirty run by the chinese communist party apparatus and to really create an anti western framework. That's what cnbc is pushing for. Rick santelli has a pattern of starting grassroots movements. Many people don't remember this. But i sure do it inspired me to get involved and actually start turning point. Usa almost nine or ten years ago. This is rick santelli with the rant of the year that started the tea party movement. Little time machine punch put up a website. People vote on the internet is a referendum to see if we really want to subsidize the losers mortgages or would we like to at least buy cars and buy houses in foreclosure that might have a chance to actually prosper down the road and reward people that could carry the water instead of drink. The wine novel idea ricky. They're like like twenty in. Your hand did not children like putty in our hands. And this is america. How many people want to pay for your neighbor's mortgage. That has an extra bathroom and can't pay their bills raise their hand a president obama. Are you listening that. President obama are you listening. Clip was the shot heard around the world that started the tea party movement which resulted in republicans successfully taking back the house of representatives in two thousand ten now rick santelli challenging andrew. Ross sorkin around a similar amount of smug dictatorial arrogance. That has resulted in the closure of hundreds of thousands of small businesses across the country unspeakable mental health damage. And the cdc came out yesterday and said that. Seventy five percent of all young people are experiencing mental health problems because of these lockdowns but to andrew. Ross sorkin. that's not exactly a priority. You see to andrew ross. Sorkin cares about the stock price of amazon but normal people are starting to rise up. Everyone should start to rise up. You open up your restaurant you go to church. You demand. your pastor holds church. You do not allow mask mandates. If you think masks work then go ahead and wear one. That's your progress. That's your liberty. i'm not going to attack you for that if you don't think they work which there's plenty of evidence to show that as well. You should have the liberty to be able to not wear one. Let's play cut seventeen of a business owner. Who makes he really outlines how his business has invested in outdoor dining and not governors. What the ban outdoor dining play seventeen. Here's the situation. Do we take the pandemic seriously. of course we do. Am i saying that. We shouldn't close outdoor dining. Yes i am and every single juncture along the way here from the beginning shut down to. Today we've listened to all of the advice from our government officials only to be shut down over and over and over again and then not compensated for the elements that we put in place in our business to protect our customers. We shut down indoor dining no problem. I got a warehouse full. Plexiglass right now okay. We went outdoors all right now. That's getting shut down. I put thousands of dollars into outdoor heaters. There is zero scientific evidence that proves that outdoor dining is contributing to a rise in cases related to this all right. I am only saying that. We're going to continue dining outdoors. Because i can get on an airplane and i can fly and eat and do whatever i want. And don't tell me is the hippo filters okay. Because that's not the case you don't turn those on until you get onto the plane before that everybody's fornicated on top of each other. I go into walmart. Heck i don't even have to wear pants. Nobody wears a mask at walmart. I can go get a pink. Cockatoo for my christmas tree. But i can't go and dine outdoors at a restaurant. I can go to target amazon's making tons of money. All big businesses getting rich okay. Outdoor dining does not lead to any of that therefore screw that works stain oakland outdoors. It's that simple. i'm not toll. The governor is what state is this hero from. Five hundred to take a day off radio. He's gonna sub in for me. It's very articulate so we need a channel all this energy everybody channel it multidimensional early because the florida recounts and the new restriction georgia recounts. I'm sorry and the new restrictions they're all connected together they're all interrelated. It's part of an agenda that the experts can't be wrong and you're not allowed to question it so you'll probably spend much of this weekend shopping for those last minute gifts so you can ship them in time for christmas. A very big job but not as big as what's facing prison fellowships angel tree team as they put the finishing touches on arrangements to make christmas very special for over three hundred thousand angel tree kids who have a mom or dad imprison people like this angel tree volunteer in south carolina are already hard at work because they know every prisoners child deserves to experience the love of jesus on december twenty fifth. Well it will be one to remember. I need you to. Please go right now to charlie. Kirk dot com. Click on the angel tree. Banner or call the phone number. Eight eight eight two zero six two eight zero two and police make your most generous gift you can so we can get each boy or girl a specially selected present a personalized letter from their mom or dad in prison and a beautiful new bible for two hundred and twenty dollars which blesses ten kids with all that joy for just twenty two dollars. You can bless one child again. Go to charlie kirk dot com and click on that angel tree banner or phone in eight eight eight two zero six two eight zero two to make this christmas special for prisoners. Trial right here in america. The question is who's gonna fight back. And how long time for us to rise up against these lockdowns to rise up against the barrage of nonsense and draconian centralized orders from our rulers. And now we're starting to see. Even more indications at the vaccine is going to be mandatory. This is an awful and immoral idea. Play cut twenty of chief medical officer dr williams when he's asked about how they can impose a mandatory vaccination play cut twenty three. But will you as chief medical officer of health in any way make some sort of mandatory vaccination recommendation What we can do is to say sometimes for access or eased in getting into certain settings if you don't have access nation than you're not allowed into that setting without other protection promote materials so what may be mandatory is proof of immunization or vaccination with proper product in order to have latitude and freedom. Now this is from canada. Just so you know and that is a sign of things to possibly come to america. And if joe biden becomes president of the united states on january twentieth who is going to be the chief medical officer in america. Dr anthony fauci. Whose been wrong about everything and a hypocrite about everything. Trevor noah had a lot to say about that play. Cut twenty one. I'm sorry man. Everyone has given up their lives. And then you've got these politicians which is hypocrites. What do you think corona respects your office too much to come to you because don't forget it got the president of the united states. It's not gonna be star struck by governor hedgerow in fact in a way. These democrats are even worse than the anti moscow's because of the hypocrisy of their hypocrisy. It's really interesting. When trevor noah now start to call out the left that is just another indicator that there is a looming democrats civil war that the democrats civil war is going to be nasty and it's going to be brutal if republicans win these two senate seats in georgia which is only possible if we continue to fight for voter fraud and we continue to fight for ballot integrity and joe biden. Sworn in on january twentieth. Democrats are going to engage in a nonstop democrats civil war and some people in the republican party are now calling for us to stop investigating voter fraud. Which is an awful idea. Some people are saying it's time to move on. It's time to turn the page governor. Brian kemp is now all of a sudden calling for a signature audit. Who is saying that after new surveillance video uncovered today that now he calls for the secretary of state to have a signature on it. Now we said this earlier but wise. Brian kemp all of a sudden coming out and saying this. Now play cut thirteen leffler. You're not called early on for a signature audit obviously sector state per the laws in the constitution. What have to order that. He has not done that. I think it should be done. I think especially with what we saw today. It raises more questions. There needs to be transparency. On that i would again call for that and i think in the next twenty four hours. Hopefully we'll see a lot more from the hearings that the legislature had today and we'll be able to look and see what the next steps are so all of a sudden now establishment republicans starting to get nervous about not contesting not fighting on the voter fraud. Front it's because of you. And i want to give you the reinforcement and the positivity it's because of you because we've been keeping the pressure on these voter fraud fights we've been talking about this because we have been demanding action against republicans that refuse to engage on any of these issues unless they are pushed to do so and the republican party of just accepting widespread fraud no longer exists and rothlisberger and camp and all these governors. That now have a lot of explaining to do. We're going to have to help. People unpack the very clear issue of. Why didn't do something early in regards to this widespread voter fraud and it is widespread the more evidence that we dig into more evidence that we find. We are finding that this is not just a small isolated incident. We are fighting that finding that these issues are deep within our election system. Let's just take arizona. For example this is from the armistead project. According to their calculations the estimate amount of ballots requested in the name of a registered republican by someone other than that person two hundred and four thousand five hundred six. The estimate amount of republican ballots at the request returned. but we're not counted. Seventy five thousand thirty three. The electors voted where they did not reside nineteen thousand nine hundred and ninety seven out of state residents voting in state. Five thousand seven hundred and ninety. How many votes. One hundred fifty. Seven grand total is three hundred and five thousand five hundred sixty three margin with the current margin in arizona being ten thousand four hundred fifty seven. May i use a word. This is systemic fraud. No there is no systemic racism in our country but there is systemic fraud in our country. Let's us another example. And this is all from the highly credible armistead project put forward by phill kline former assistant general of kansas. How about pennsylvania the current margin pennsylvania. We are being told is eighty one thousand seven hundred and forty nine. The estimate amount of ballots requested the name of a registered republican by someone other than that person fifty three thousand nine hundred nine. The estimate of republican ballots at the request to returned. But we're not counted forty four thousand eight hundred ninety two. The amount of electors voted where they did not reside fourteen thousand three hundred twenty eight out of state residents voting in states. Seven thousand four hundred twenty six double votes seven hundred forty two for grand total of one hundred twenty one thousand two hundred ninety seven which would result in trump winning the state of pennsylvania. The sir the summary continues by saying that the center for technology and civic life is attempting to administer pennsylvania's presidential federal election through their conditional grants paying for the federal elections is synonymous with influencing federal election policy and is a violation of the elections clause. We have gone through this in depth on our podcast. I encourage you all to check out the charlie kirk. Show podcast where we have been one of the few programs that have really been exposing the center for technology and civic life's role in the fraud and the corruption. How about wisconsin. How wisconsin work again. This is all done by the armistead project. I'm just referencing and wisconsin. We're supposed to believe that. Joe biden one by twenty thousand six hundred and eight votes. How about the estimate. Amount of ballots requested the name of a registered republican by someone other than that person. Fourteen thousand four hundred twenty six an estimate of republican ballots at the request to return but were not counted. Twelve thousand seventy one electors voted where they did not reside twenty six thousand six hundred and seventy three electors. Who avoided wisconsin voter. Id laws by voting absentee as a quote indefinitely confined elector. We're not indefinitely confined ninety six thousand four hundred thirty seven out of state residents voting in state. Six thousand nine hundred sixty six double votes two hundred and thirty four. This is not over. That is why we must keep the pressure on you keep the rallies. You keep the emails you keep. The phone calls a total of just forty. Eight thousand votes in three states can flip the election and people say how can i help get involved will every legal vote. Dot com is a great website. Run by a friend of mine that walks through this at great length and if we look at just the publicly available numbers that we've been going through we now see that not only were there dead. People voting absentee ballot problems signature verification double voters but also in the vote tabulation process. We are now seeing massive issues irregularities and the illegal criminal behavior such as in georgia that we light in early in the show. But it's worth playing again. Let's play that georgia tape again. Please for some people that are just tuning in. Cut twenty two. I think it is jackie. Pick diesen narrating cut. Twenty two o'clock in the morning. We're all back in. Show it to you so now circling new salads out from under the table this table the black one was placed there by the lady with the blonde braids and about eight twenty two am in the morning so she put that table there since dangerous new. Stay behind the same person. Cleared the place out under the pretense that we're win. Stop counting is the person who to put the table there a twenty two in the morning. Yeah i saw four cases from under the table. Four suitcases coming from underneath the table and the democrats are ignoring it. Has this election cycle. You stressed out worn down if so time to bounce back. What's the number one mineral to fight. Stress and fatigue magnesium try a new dietary supplement of capsules called magnesium breakthrough from my friends of the show by optimize this is the magnesium supplement. I recommend because it combines all seven essential forms magnesium into one convenient daily dosage most magnesium supplements fail because they're not full spectrum when you got all seven critical forms of magnesium so many functions in your body can get upgraded. The supplements are designed to enhance focused. Sleep reduce inflammation improve your body's reaction to stress so checkout nag museum breakthrough with me. Take two pills a day with your evening meal and reverse magnesium deficiency and all of its forms i take magnesium every night and you should to use promo code kirk ten for ten percents off any order. Go to by optimizing dot com forward slash kirk. That's b i owed p t i m i z e r s dot com forward slash. Kirk promo code. Kirkman to apply the discount. I wanna spend a moment and do a tribute to american hero. Who passed away this week. Walter williams walter. Williams is a part of a group of thinkers and economists. That really played a important role in my life. Thomas soul being another one of those people milton friedman and interesting enough. All of them worked together in the early stages of their career. I had the opportunity to meet. Walter williams a couple of times. I always found him to be so kind and so incredibly wise. He's a couple of great books. And he was so sharp and so contrarian in his opinions. Walter williams was a black american. Who loved this country and a fierce defender of liberty. He did some phenomenal writing. Some of the best on affirmative action race relations gun control. He is probably on the mount rushmore of late twentieth century. Economists that help the foundation of what is now the conservative movement that protects individual liberty freedom and our country. Walter williams one of the things you focus on the most was minimum wage. He had this lifelong obsession with the minimum wage and he was so right on his. So spot on is he was driven by his conviction. I'm reading from human progress dot org a great website. And that artificially heightened wages. Actually make re racial discrimination less costly to the employer. He argued that minimum wage actually hurts black communities he taught at george mason university it a phenomenal interview on life liberty and levin a couple years ago. One of the best and walter williams would commonly say. Have you weighed all of the costs of the intrusion or the intervention that you are trying to propose and walter williams especially in the last couple of years has been legendary in criticizing. Blm inc advocating for fairness and justice under the law. So i wanna read some of his best quotes and i also wanna play a clip of him. Actually if we have a clip play that first but one of my favorite. We have the clip ready. Let's play a clip of walter williams and tribute to the great work. He did for our country play tape a lot of people say well. The minimum wage anti-poverty device. Well that is utter nonsense. Does need to pass the smell test. Because if it weren't anti poverty device well then instead of spending all this money on foreign aid we just have. Our experts at the state department tell bangladesh. Will you be rich like we are just have a higher minimum wage. That's just one of the short clips of walter. Williams being economically contrarian one of my favorite quotes from him as democracies a little more than mob rule while liberty refers to the sovereignty of the individual sitting in a free society. Government has the responsibility of protecting us from others but not from ourselves boy. Is that a perfect quote. In regards to these lockdowns walter williams in a free society government has the responsibility of protecting us from others but not from ourselves. The essence of government is force and most often that force is used to accomplish. Evil ends incredible. And he'll be he'll be very much missed right now and a variety of different ways another quote of his if we buy into the notion that somehow property rights are less important or in conflict with human or civil rights we give the socialists a freer hand to attack our property. Politicians have immense power to do harm to the economy. But they have very little power to good walter williams. We'll miss you. I enjoyed meeting you. On a couple occasions. He leaves a phenomenal legacy of thinkers and doers. And we should all honor his incredible impact that he has made on our country. Thanks so much listening. Everybody if you want to support us. It's charlie kirk dot com slash support. If you want to get involved a turning point. Usa it's teepee usa dot com tps dot com. Thanks so much for listening. Everybody got blessed. Speak do soup.

Ross sorkin rick santelli andrew usa Andrew ross sorkin charlie kirk chicago cnbc Santelli lowe one hundred percent rick Free charlie charlie charlie Cnbc Trevor noah home depot Brian kemp Kirk chinese communist party
1301: "BINO"

No Agenda

3:15:40 hr | 5 months ago

1301: "BINO"

"Who who who. Adam curry john's he ever six twenty twenty. This is your winning nation media. Assassination episodes thirteen hundred one. This is no agenda pinning down dates and broadcasting live from opportunities thirty three here the frontier of austin texas capital of the drove in star status. Everybody adam curry from northern silicon valley where we're drinking instant coffee. I'm jesse devora jerry. Wait a minute wait you are. You're ground zero of the tyrannical lockdown in california. And that's all you got. Is your drink coffee. So i look at the i. I looked up i was disorders up and actually read them. Nobody does that the media especially well no because they're exempt and they don't care no actually they're not exempt from this. Oh what media's not exempt from this no apparently everyone is including protestors. Protestors in curl. Okay just want to make sure we still have sheriff's to end it is listed. Let us know what's in the order. How how is your movement being restricted. If you start to look actually look at the order and read the document you can go out and do what everyone wait a minute you just. If you're just discourage really yeah and the thing is of course all the restaurants and everything's closed so if you go out and do whatever you want. What are you gonna do this. Like my idea of going to paris. I could to get on a plane. Go to paris when we're gonna do be locked down for fourteen days even if i wasn't locked down what hotel megan stay. What am i going to do in there. I can go to a cafe vis closed right but the shutdown of restaurants that's being enforced. Yeah it's being enforced but they're not enforcing people being outside and do you have to wear a mask in your own bed. Is that part of the. I'm serious. wish it's possible now coming. This is this order which to me just on its face feels like i'm probably wrong but it feels like gavin newsom got Caught being a dick. Everyone pointed at him. And said you're a dick and he went. Oh watch this. Is there any other reason. Because what they're saying is completely ludicrous. The stay at home order is because you've crossed over the magical fifteen percent free. Icu in hospitals. Which as we know is really only portion of all of the is was construct. Yes so this even a flattening of the curve or anything like that. This is just saying well. We've passed Fifteen percent if we're below fifteen percent capacity than we have to lock down until january fourth. This is based on science. This is based on hospital mayans hospital management. But you know it's like oh so do we just need more beds can we. Then dave so what they've done is implemented the harshest or which is again. Like i would. I just said is you can go float around if you want to. But you're discouraged from it but you can and so there's no media exemption because pretty much. Everyone can do what they want but again there's nothing to do. So what would you do that for you. Might as well stay at home and eat watch. Tv did is only a few counties that are really put it into full force All the night did not l. academies in the bay area except san mateo county right. There revolted was still open. What s matteo county is They are bucking the order. That's the silicon valley. There's your irony wait. That's the silicon valley guys. Matteo silicon valley in san mateo. Let just oh. That's palo alto would city bag fancy restaurants. They're all open. They're in san mateo for the silicon valley set is that Idea for outdoor. I pretty sure for outdoor dining you can eat. Seminole county real. This is on now. Is there a general feeling in california that this is some kind some. Oh oh so. It's not angry gavin newsom. They're thankful for him locking them up. That's what you're saying. You got it in los angeles These orders including Those of mayor. Garcetti are presenting huge problems. This video went viral. I've tightened up somewhat. This is a restaurant owner in los angeles who had created an outdoor restaurant with little tent over it and some picnic tables right next to her restaurant which has been shut down now with these orders and Well if you haven't seen it. She sees that fifty feet across the road. Someone else did get a permit to open up an eating facility for the pineapple hill grill and saloon. If you go to my page you can see all the work. I did for outdoor dining for tables being seven feet apart. And i come in today because i'm organizing protests and i came into get stock for that and i walked into my parking lot and obviously mayor. Garcetti has approved this being set up for a movie company. I'm losing everything. Everything i own is being taken away from me and they set up a movie company right next to my outdoor patio which is right over here and people wonder why i'm protesting and why i have had enough. They have not given us money and they shut us down. We cannot survive. My staff cannot not survive. Look at this. Tell me that this is dangerous but right next to me as a slap in my face. That's safe this is safe. Fifty feet away. This is dangerous. mayor garcetti. And gavin newsom is responsible for every single person that doesn't have unemployment does not have a job and all the businesses that are going under and we need your help. We need somebody to do something about this here. You go this. Yes she screwed. They're going to do right now. What are they gonna do nothing. Who who who is day in this case the gathering jim doing he's gonna go to fall on deaf ears. Yeah well we'll see if that happened. In austin i'd be out there i'd be out there protecting this split. The new york. This is going to happen. More and more people just want standards or anything left in new york new york brooklyn. I think there's one restaurant that is the last stand and four thousand people in night are now showing up to stop the sheriff from shutting them. Down will come of this and people you know as you said though. That's very interesting. This order makes it feel and sound from a distance like you are locked down. Play mask up in your house in your bed. Be quiet. Don't make waves follow the rules. But that yet you're completely allowed to do whatever you want as evidence to the contrary it's if you start looking at the order it's pretty much more of a strong suggestion for the public and a very strong more than the suggestion for the businesses. So i can go outside right now and go to the store walk around wonder down to look through the park. Well there is good news as you know the freedom pass is on. Its way and won't get into that a little more but Just so we all know. There is a covid. Freedom pass dot com website. Which you can use to get out of this mental jail that you've been placed in his mental prison covid freedom pass dot com that of course redirects to no agenda show dot com. This is one of the better forwards. I've seen i really liked cove. Freedom pass dot com. Because we're setting you free in your head. That's all perfect so these arguments are spilling over everywhere. And as you. And i know whenever we have an argument on the show people always resort to this very childish literally childish remark of i hate it when mommy and daddy fighting which to me the new voice for you thank you thank you i i can do it. I hate it when mommy and daddy fighting new voice. I think i've had that one for one slightly scott. It's got a little snow. It's got trimodal okay. 'cause i'm really sad and i always say the reason why you feel that way and uncomfortable is because this is how adults actually resolve issues and move on and you don't see that on television you see phonies with phony arguments. Fainting phony is not real. That's why doesn't feel uncomfortable. So it hits the hits the listener the producers of the show kits him in such a sensitive spot that they immediately equate that to mommy and daddy fighting there was a really good. Which is the problem. I think you've identify. I always just ignore these comments. 'cause you know. I think people think they're being cute. But it's possible that you nailed sociological issue. Debt is serious. Yes yes it. There's no examples of what good discourses phony discourse which is what you see on television that not exactly the same play. Yeah but isn't that exactly what you see on twitter when people argue. It's just bull crap but just yellen back and forth. there's no resolution it's not adult behavior. It's stupid now the this this descended to incredible for me a high for many low on. Cnbc you probably saw this. I think it's worthwhile to play the the entire clip in context because it was only play the entire. Yeah because it was. It was just clipped here and there. And if you haven't seen it this is Rick santelli who has always been kind of a troublemaker on cnbc into always been a screamer appreciated for it. I think in the two thousand eight financial meltdown. He was yellen yellen every single day. And he was just compliant of. Give a briefing on this during two thousand eight. Which i thought was on. I thought was unwarranted. But he did it. Which is that the people who got suckered into these stupid subprime mortgages and they lost their houses and he. He said they're idiots and they should. They deserve what they got very unsympathetic to the fact that most of them were victims of sales pitches. Which is something. I'm somewhat sympathetic towards anyone. Who sold down the river by myard are kind of buy into it because they're know not necessarily a bad person but he really was very accusatory. I thought it was unfair. Personally but in this situation he's with. I believe david sanger. Now it's hand andrew. Ross sorkin sorkin. I'm sorry sanger sarkin. They were looking at new york times. Zorkin some of the new york times. And he's an old new york times hacking he would be part of this system toy me somehow the golden boy on cnbc. This what has he done. That has made him so revered andrew. Sorkin andros arcand toby. We could waltz over to the wikipedia and check him out but he is a new york times golden boy there and he was in fact i remember talking about him and with some other new york times reporters and he was one of these guys. That was gonna be bureau chief. Which i think he became. Maybe from hong kong all over the world if you know what that means hong kong. And then he was. I remember it's because he he co wrote too big to fail including the movie adaptation and he's the co creator of billions. That's why because he's of course. It's a hollywood connect and so he was going to be on the fast track to become like to editor of the new york times executive editor or something like that and then he views very successful with these books and he. He got kind of full of himself. He like i once you do that at the new york times. They just kicked to the curb and so he's over now at. Cnbc is is there a cnbc. You know unless he he can get cnbc. I don't see any. I think he's at a dead end. The his problem is obvious why he's why didn't become editor of the new york times. He doesn't have vocal fry. He's listen to the previous editor. You know obviously. I re- i read the new york times like all day long mainly on my ipad. That's what if that's a jill abrahams if you wanna edited the new york times. That's the attitude you gotta have. But no instead key through on his superman cape and flu around rick santelli telling rick santelli that he's currying people as dangerous and has to intervene in his rant because this is bad for society and we need a public service announcement for health and safety of our viewers. Believe me. I believe in careful when i point out governors cheating. It's not for existing. It's the fact that i think many of these governors. That's the point that i think a lot of people didn't hear it really. It started about the hypocrisy of the governors and the mayors of Mayor adler austin jetting off to the times family time and kabo when he told everyone to shut up and stay home then. Of course the newsom. And what is london breed zeh mayor all of these douche bags they should just. We should just go torch the french laundry. Not this is not an instruction not an instruction. Well they do that happened but if you want to get. The attention of government burned down their favorite eatery. That would be a start anyway. Back to the thing at hand cheating it's not for poc rec- which exists. It's the fact that i think. Many of these governors are intelligent people and they love their families which they've taken out into restaurants therefore there is actually in should be an ongoing debate as to why a parking lot for a big box store like by. My house is jammed. Pack now one parking spot open. Why are those people any safer than a restaurant with plexiglass. I just don't get it. And i think there's and i don't think this has really been discussed. You and i have talked about it a couple of times saying. Why is this big big box store safe and the rest is and we've talked about this. No one really dissuaded. I do do do before he leads us. We do a lot of setup serta get. Make sure this works Sorkin is going to defend the big box stores as being totally different totally different scientists finn. I think what you might. You might make the argument. Even though he doesn't do it. You might make the argument that well when you go into a costco which is open. There is almost like being outside. The roof is a mile high. There's a lot of airflow in there and it's like being assessed. So it's different than a small boutique in my complaint of courses that people go into target or costco and buy clothes. But they can't go into a small boutique and by close right now. That argument about the boxer. I want people to keep in the back of their mind. The concept death target doesn't have the ceilings correct target is just as far as i'm concerned a department store they'll know the target remember. This is a financial show. Were meant to hype certain stocks to make sure people buy them. Why are those people any safer than a restaurant with plexiglass. I just don't get it. And i think there's a million of these questions that could be asked and i think it's really sad that when we look at the service sector and all the discussions we've had about the losses that that particular dynamic isn't studied more is it worked more. We don't put more people in a room and try to figure out ways so that the service sector employees and employers could all come back in a safer way. You can't tell me that. Shutting down which is the easiest answer is necessarily the only answer i just just as a public health in public service announcement. This is my favorite as a public health and public service announcement. I'm andrew ross. Sorkin and i have written billion so let me tell you what the scientists for the audience. The difference between retailer. I'll say who's that the difference between the who different like how the co-hosting who else man you know who it is. It's the douche who wealth. Could it be three. Taylor hold on the difference between that big box retailer and a restaurant or frankly even a church are so different. Unbelievable our really attractive. I disagree you're gonna have your thoughts to wear. I disagree science. It's is see that's the problem dammit. Whenever you and i disagree over something. John eight we the the the way used to end arguments online was your hitler that anymore. You just say science if you say that end of discussion because you can't dispute science find different story. Roger people at a law aren't any safer than one hundred fifty people in a restaurant that hold six hundred. I don't believe it sorry. Don't believe and a lot of restaurants then fought back and they don't have any problems and the robed okay. You don't have to believe it but let me just say this. You're doing this service of the viewer because the viewers need to understanding a viewer. You are you are. i'm sorry. I'm sorry if i would like to keep our viewers healthiest human. The idea packing people in the restaurant. I think our user smarter. Not only that. I'm much smarter. Then of you're like some people do get in here please. Don't like mommy and daddy fighting for your work for you. I mean look at the numbers and then this guy. Rick look at disguise at. Who's this this is. The fat head got look at the numbers rick. How's that working out for you. Rick why don't you just say he should just added. These people are dead because of trump brick. You know that it's working out. I think the numbers ally rick rick. The numbers show that. I understand that when people are getting sick and dying with this show talking about this. There will be no agreement. Let's move on from here. He's done they're gonna fire him sorkin or rick vic. I don't think so. I mean if if they don't he then he read book it if okay all right. That's that's worthy one. If if they don't fire him that'll be the equivalent of having tenure on television. That's for sure. Because that's an. I i hear what you're saying. Let me just see. Date is december. Six twenty twenty. We have eleven thirty one a. m. j. c. d. a. c. rick santelli fires. And tell you yes. Anti over covid restrictions. Okay it's in the book. I'm not going to dispute it. Not going to dispute. The science on the other hand is being disputed the number of ways and this one is cropped up recently in ireland as you can recall ireland has pretty much changed their population to their four poster beds closed down the pubs. And that's like cutting off. Oxygen supply Ireland one of the most restrictive regulations. That is rule set. That have been put in place. And there's this woman gemma doherty and she has spent a lot of time going around to as she. she kind of. Looks like the code. Pink lady surname again. You know. I mean. I know the needs to wash your hair. Yeah well yes. The flashy the flask flaccid kind of blonde hair. Thin hair And she's spent time going around ireland exposing on video that the hospitals are empty. Which of course we've seen this set anywhere you can't but she's been doing except always one or two places where you can't and that's where they send the cameras in fact. This reminds me. And i have to do this. And i feel remiss for not doing it. Because i've been thinking about it for days on end. Is these nbc. Cbs abc show people getting tested. And they show a line of cars. Yeah you can't shows on a show because but it's been a line of cars mile long. Yeah into like a football field lined up for hours to get tested. Yeah i think it's the same line they show for the food bank by burke go to berkeley this week and take a picture of the testing carline testing thing there. There's there's nobody there but this isn't even testing. This is this is what's happening in. The wards is just not there. They've cut back on personnel no. I'm just saying they. You can find places where there's a long they. That's what he's an camera. Yes so jimmy. Doherty is out and about and she posted this This one video most recent one in front of ireland's public building and one of these big elite illuminate like structures and she had some interesting evidence which is very reminiscent of a tie a previous time with the same actors on the stage. I'm here because i have some very important information to impart in relation to develop on top in the united kingdom. You know that's for the laughs safe. I have seen entering hospitals in this state and exposing the fact that they are empty. My latest one and the matter has gone viral worldwide. And of course we know it is the case that these hospitals have never been mp here probably in the history. Since since the fall of phoenix. Sales took over. We know that at this time of year our hospitals are normally packed to the gills out. They are in february march april up the end of the winter season but they were empty them and they are empty now so people are right to question whether this virus actually exists now in europe for the first time have scientific proof that it does not exist this thanks to a department cow lecture that has been received following a request by assist them in the uk which he actually had to appeal but he requested the department of health and social care in the united kingdom to pfm scientific proof of the existence of a virus called sars cove two they confirmed and i will read it now to you. The department of health and social care does not hold any information on the isolation cove. To in other words it does not exist. This is this is a real mind bender and this is actually what david was talking about at the beginning of this months and months and months ago that the pcr tests is just rigged. It's not meant to be a test. The pr process is rigged to show fragments of corona virus and is then saying. You've got sars cov two but no one is actually isolated. The virus and this is exactly what happened in the late eighties and nineties with hiv. They never came up with the isolated virus. They could never show it now About three years ago there's been some paper released complicated. The in a very complicated manner shows. Oh yeah it was the there or something but in general you can read book after book after book. You just won't find it. And it's the same people and they had the pcr test for hiv back in the day and My personal opinion is that people died from the from the rejected chemotherapy Act that they were giving these patients they went in very similar to the to the To the ventilator story like you test positive you go into the hospital and you never come out. It said you know. I think there's something to this. I'm not a virologist not an imminent now just sort of rain zoologist and even say. I can't even pronounce it. Let them have a diploma in it But i'm suspicious of that. Then there's a lot of things to be suspicious about The existence of the virus. I believe it does exist. I don't think come from an animal. I think it was made the lab. And they can't find an animal with it until they been able to isolate it. Then why is that something. I don't know that is true. Well that's another deaths. You know that that's true. You're saying i hear this now. But i do know. This is true when the first reports came out in april or march april and they were showing all these lines at the hospital. Stay were numerous. Youtubers would go out to those same hospitals the next day and we saw that he made those videos reported on this and there is no line of ambulances that those hospitals there was. No ambulance was nothing there and then they went into the hospital. Some of them went actually went in with their cameras and they found nobody in the place to places. Pretty amputate there was. This example has happened a number of times. We have a friend who works at the in. Cornwall it the national health service and she reports back That there's no hospitals empty and you keep hearing this but there are hospitals which are reported to be full and they could be documented to be full but those are all day seemed to be the outliers along with those long lines. so there's something fishy about is whole. Those hospitals are the ones that are better lit. I guess is a better light lighting or lighting for the shot. You got to light it up. Speaking to this sort of thing is to see this report again. My i actually had my haircut. Wow the other day shift and the guy who cut my hair. So i'm just trying to go year but i couldn't manage it would no hair hadn't been you've been a year without a haircut was going for a year. I couldn't get along long ago. March not bad was down to your shoulders. It was getting there but it was reaches scramble. I look like an old witch. But you know i was So i talked to this guy and he was going to get aid operation on his back just before the whole thing broke out and they wouldn't let anybody in and then he got his operation during the middle of the crisis and he says the hospital because for elective surgery which is being done supposed empty. Great you go in there and get nothing but you know everybody's you know you're there. You're getting good service. So i mean this two stories. These stories are not bullcrap stories. Well in more health related news numbers from sir arcane code. He heard us talking about the ambulance services and why they were in financial trouble Which we both found kind of weird like seems like no sense well. He has a rundown for us. He has some friends who work for an ambulance service. Turns out less than half of their business comes from emergencies. The majority of ambulance services is for calls taking someone from a nursing home to their doctrine. Back that's a big one patient from hospital to a rehab facility or transferring between hospitals so when hospitals shut down everything except cova related procedures. And this comes down back to our point it shut down all the more mundane services and so no more need for ambulance. In general at least around the birmingham alabama area of services many are hurting financially. That makes sense and the we're going when this ends win. I guess after the hundred day mask mandate from joe a. You're going to see a then you're going to see hospitals overrun when everybody comes back to get treated for all the crap that in if they're still alive that's when that's when it's going to be there's all this elective surgery that's been backing up. Yup yup bet thousand time people go in now in the eu a fantastic. This could have been career devora consulting group exit strategy. I am beating myself over my head that we miss this opportunity. I'm very very disappointed in myself. And you as a consulting partner founding consulting partner and probably very disappointed in our associates known as producers of the show that no one came with. This must be really bad. You're scolding everybody. Seven collect dapa a nursing home resident. Jim on france has been taking precautions against cove nineteen. She's been limited to speaking with her family via video call or through a window but now do pas able to feel their touch through plastic. Thanks to an inflatable tunnel. Known as the hub. Bubble baby it even has one of our names. The hug bubble. This thing is fantastic. Eight we could have manufactured them overnight. Do daughters recently visited her. Putting one arm through an airtight sealed. Plastic sleep too much more and stroke her hair. Deafening lonzo system at the nursing home has brought comforts residents would see their relatives through a window or through a camera and they were really missing having real contact and they are getting a lot of love before ducas daughters left. They took turns kissing their mother on the cheek. Through the plastic after guests believe disinfects the plastic sheet to prepare for another loving encounter in the hug bubble. See the problem. The problem hug bubble is disgusting. I mean it's all it is. It's a bouncy house clear plots without the Colorful pieces a bouncy house castle with two arms and then they'll your granny comes up. You can stroke her hair with the plastic. It's it's beyond sad very very very upset. We didn't come up with that. Dammit now before i go into After that big lead in. I'm listening you're not that upset. You didn't like i think. I think it's a huge money. Man i would have been. I would have been embarrassed to be part of the company like that called the hug. Bubble company has a future. Baby says the future i. Unfortunately the domain name gone so we couldn't get that before i get into vaccines. I think you may have a couple of reports to run through. I did wanna make mention that Very observant producers have noticed in several of the bill gates videos that he does from his office when he's doing the interviews and he's talking about how the severe pain will hurt you from the from the The vaccine people noticed he had a stack of books next to him on his bureau. And do you know what book is almost right on top one below the top one. It's called a book called how to lie with statistics embarrassment. It's available on amazon. And we'll give you the blurb. There's terror in numbers rights. Darrell huff in how to lie with statistics and nowhere does this terror translate to blind acceptance of authority more than in the slippery world of averages correlations graphs and trends huff sought to break through the days that follows the collision of statistics with the human mind with this slim volume. I published eight. Nineteen fifty four book remains relevant as a wakeup call for people unaccustomed to examining the endless flow of numbers pouring from wall. Street madison avenue. In everywhere else someone has an ax to grind a point to prove or a product to sell the secret language of statistics. So appealing in fact minded culture is employed to sensationalize inflate confuse and over simplify. I've ordered it. Yeah definitely this is our book. So that's what gates is doing. He's lying statistics. As is everybody else. Everybody think sells you. Don't think so. I think many of them are very sincere. Okay but they're confused about what they're presenting because someone else gave somebody in. The background is language statistics and and horn. Swabbing the idiots. Yeah yes well. Do you want to get him back scenes. You have a couple of reports. I have some demi got here. I have a bunch of covid There's some good stuff here actually grew. Let's do of start with the grim news from nbc. Get it lay like feeling for what's going okay. Saving we've been running out of ways to stay grim milestone when talking about covert ops. Now are beyond that this week it surpassed heart disease as our country's top killer today more drastic to try to slow the spread. Southern california is now set to go into full lockdown issuing a stay at home order to begin tomorrow at midnight and more states in regions may not be far behind as the unbearable burden. On our nation's health care workers grows for the emmy. Turn this crap off people to not watch this guy right here. You know what happened. You know what happened. you're right. They all saw cuomo get his emmy. They're like hold my beer like that. I can easily always acting. Yes of unbearable is horrible. It's on bearable right here. If you wanna hear your your top actress. Amy if i can use that if i can use that term covid report amy a come on in the united states has set yet another world record virus cases hospitalizations and deaths with over two hundred. Sixteen thousand infections confirmed thursday and more than twenty eight hundred deaths when she says confirmed. What exactly does that mean well. Let's listen to one of our canadian producers. Who said Do you know that in canada. This is some semi scandalous. Is that when you you're in an emergency room. You check into the hospital for like a broken leg and bleeding. Yes they give cova test if you give your test positive. They put on their record. If you die from your broken leg and bleeding dijakovic edits confirmed case because you had a test. But she's talking about confirmed cases who were not in hospital just confirmed cases. I don't know what she she says. Deathsconfirmed guests does yes. And because you had such excellent use of reverb. I'm going to start it over again. United states has set yet another world record for daily corona virus cases hospitalizations and deaths with over two hundred. Sixteen thousand infections confirmed thursday and more than twenty eight hundred deaths. Nearly a hundred and one thousand people are hospitalized with covid. Nineteen across the us in california. Governor gavin newsom has imposed sweeping remain at home orders covering the vast majority of california's population just in the last fourteen days. Close to one thousand californians of lost their lives due to covid nineteen. The bottom line is we don't act now. Our hospital system will be overwhelmed. We don't act now. Will continue to see a three climb. Governor newsome's order came a day after los angeles mayor. Eric garcetti warned. Los angeles is nearing devastating. Tipping point during residents to rain at home and skip social gatherings in order to prevent needless suffering and death in rhode island officials have open to field hospitals with a combined nine hundred beds to relieve hospitals as covid cases. Hit new record. Highs rhode island governor gina raimondo. Says the problem now is finding enough medical workers to handle the surge on thursday. She appealed to retired and unemployed healthcare workers to join the effort. First of all dynamite. Were both going to hell for this. You realize that that people think we are. We are the worst human beings in the universe to to to put echo and mock mock death but notice how she said they're going to run out of employees and they're gonna go get and she says i retired and unemployed. Why don't you reverse it. Bring all the ones you laid off. That's what's going on here. Yep Yeah this is a this is unbelievable off so fake dake. It's ridiculous play part too. But i'm happy that california's dumb enough to shutdown down. There's will follow. We'll see the first day. I'm inaugurated to say i'm going to ask the public for one hundred days to mass mask up. Just one hundred days to mask not forever. One hundred days. And i think we'll see a significant reduction. If occur that with the that occurs with vaccinations and masking to drive down the numbers considerably researchers at the university of washington project the us corona virus. Death toll could reach nearly five hundred forty by april first the same researchers recently projected that if ninety five percent of americans wore masks consistently over sixty eight thousand lives would be saved by march. I mentioned did saved or created. How many lives were gonna save. Is that what she just said. Oh yeah hold on. Let me just hear that last bit again. That's important information over. Sixty eight thousand lives would be saved by march first. Wow so they've got down to that much signs so masks worked so well that if we wear them for one hundred days sixty eight thousand people will be saved or created by march first. Here's the thing that is ignored. The san francisco bay area especially alameda county which incorporates berkeley and oakland all very democrat. We're masked up. Yeah of course. I mean max maxed out maxed up. There are people driving masks in their cars. There's people jogging with mass is by cyclists. Going down row driving around the bike lane and they got a mask on. So what's the deal here. We're wearing masks like no other part of the country. This is a this mask central yet. We're in the purple zone where we have to shut down and shelter in place and stay at home. How does that work. I don't see the evidence for this. This sounds like bullcrap because we are masked up if we were like if berkeley and the oakland we're all like you guys can do whatever you want now because you've been a good little boys and girls and you've messed up. And you stay social distancing you have all these spots on the street where you stand here and you stand there. We've done that nothing. It didn't help. So this is bullcrap. Therefore yeah there's a video from some uk data scientists and they're running the numbers of cases and deaths in the uk and no matter which way they ran the numbers they see a market increase in cases and subsequently some deaths at one specific date and no matter which way they look at the numbers. I put it in the show notes. You can see. It's not clip because it's boring. You can't see it The day that masks were mandated in the uk when the cases death started to increase. Well we've had those graphs in newsletter about five shows ago from the uk everywhere all over the world is this is evident. When you see where. The master mandated. All the numbers started going up because they started testing. Now this this bogus. Let us know i got to markups. We're outta here. Well i got back seen stuff. But yeah i want to hear the vaccine stuff. I have nothing First of all this play this one is. I have a world report which gives us to wrap around the world with amy guinness world. Or when you're gonna die. Italy back play this one because this one is a suspicion this is the cova farm workers to eat. I want you to pay careful attention to this and give me. The rationale even mentioned it but it makes it something fishy about this report back in the united states. California's farm workers have contracted kovic one thousand nine hundred and nearly three times the rate of other state residents. That's according to a new study by the university of california. Berkeley researchers. The i report to explore. How workers are disproportionately affected by the pandemic. The report also found farm workers who only spoke an indigenous language had higher positivity rates than farm workers who spoke spanish or english. You hear that. What would his language you speak. Report also found farm workers who only spoke an indigenous language had higher positivity rates and farm workers who spoke spanish or english. So what. I take away from that at face. Value is were not communicating in the right languages because indigenous people. I don't know what that means. But around the world it could be all kinds of things American indians aborigines. I guess because we don't communicate to them properly or maybe she's insinuating they're stupid. I think she's insinuating they're stupid. They should learn english or spanish for spanish. Even that is weird. Why she's not. I don't think she thinks she's doing that. But that's in the report so you might as well i mean what else could it mean. 'cause the problem with amy and that entire news operation. If you wanna call it that news reading as they never tried to explain anything they just they just almost like flat reporters that report and they leave you hanging like why they leave your reporting is who at one who what when where and why. They're always leave the y out. There's never a why answered and there was a good example right there. Why i want to know why david democracy now never addresses. Why wouldn't they do. It's usually just with some propaganda. Didn't democracy now don't they have a grant from the rockefeller foundation. They got grants from everybody. We should be so. I'm i'm just stating that for people who are new coming to the show Because you heard about it during the rona. Or maybe you saw me on the joe rogan whatever it is go take a look at event to one people have asked. Hey have you seen this crazy. They set this up. Yep hello ten months ago and if you go to if you go to bing it dot i o. b. i. n. g. i. t. dot. Io that is the official no agenda show search engine which they're manny's but this one i use and you put an event to a one. You'll get john's clips Which were Excellent excellently categorized and many more articles et cetera. And so that would make sense that that democracy now is a part of the live version of events to a one. She'll say whatever that that's the problem with money it has control it. Has control was the problem with corporate money with an agenda. There you go. Money itself is fine all right the last one. Here's our world report around. The world is swing from country to country. His all his locking down. I don't know what's going to happen. Italy recorded nine hundred ninety three new covert death thursday. A daily record. The italian government's declared a national curfew and said thursday. It will bar people from travelling between regions over the christmas and new year holidays. Iran's official coronavirus cases count top one million on thursday and october member of iran's medical association said the true toll on iran could be four times higher than the official number which now stands at nearly fifty thousand in the gaza strip officials afforded schools and mosques to close as part of a partial lockdown as more than eight hundred new covert nineteen cases where confirmed thursday among those infected or senior members of hamas including. Its leader yeah. He s in war. What hamas has been infected. She's got to stop saying people are infected. It's just not true because because the pcr show something doesn't mean you're infected in seething with virus. I'm telling you i think. They put an end to this real quick. If they made them checked everyone with the same exact same rebel. You know the same cycles For look for aids tuberculosis. Maybe a half dozen people wouldn't want a test so fast as what you're saying. Well yeah 'cause you gonna come up positive even The baltimore ravens you know. They had their guys test positive and as part of the shaming as. We know. it's like well. You clearly didn't do it right. You didn't mask you didn't follow the rules. You're probably a republican trump lover. That's why you're sick. So they had to counter that narrative or true. They had to counter that narrative and they came up with a good one which is Well there were at least four unique strains of kobe nineteen found inside our facility. Three of the four were stopped and not spread. Unfortunately the fourth was a highly contagious strain and spread throughout. Before we can get to it. I mean this is. This is the thing this is fantasy fantasy and for those of you in question if you if you test positive if you feel sick if you contract the this virus it's not your fault. It's not your fault it's it's light. Think well that's like the guy. We played that clip from that youtube. Or who is crying everything right. I did everything right. i still got it. I think a lot of people that have that kind of attitude and you have that kind of reaction make themselves sick. I think i guess give good porsche. Suffers psychosomatic. oh definitely and that's what. The undercover nurse told us in march as well to people coming in severe anxiety. That's why they have heart palpitations shortness of breath. The freaking out in new york at the time going on the media has done nothing you can take dislike stock market reports. You can take a look at anything opera down and and spin it in a positive manner or a native manner they have done nothing and you can spend this entire situation in a very positive manner if you wanted to But they don't want to no of course not this is an excellent example of shaming certainly at the end of the clip. And it also shows you that you do not want to mess around in maryland as a guy is going to jail for a year. Sean marshall myers will spend a year in jail and charles county maryland. He was arrested around seven months ago after officers found more than fifty people hanging out around a bonfire at his home when cova restrictions were at their strictest and this gentleman was ridiculous charles county. State's attorney tony covington tells me. Police arrested myers that his home for refusing to comply with governor. Larry hogan's emergency order against large gatherings of more than ten people at the beginning of the pandemic in march serves office. Says it was the second time myers hosted a large gathering at his house and he was accused of being argumentative with officers in both time. Today myers was sentenced to one year in jail. A five thousand dollar fine and three years on supervised probation. These decisions were made for the public. Good for people safety. We've got two hundred thousand people dead because of the attitudes that mr myers demonstrated that particular day. That's the problem. Whoever that guy is f you brother. And that's at hogan character. We brought him into the show some time ago and she would. He was interviewed. Why margaret hoover and the two of them were just hating on trump. And he's a republican. He's like one of these worse than ryan types guys a creep. But this is this is the narrative is two hundred now. Three hundred thousand people are dead because of people like do you. Now you thought to adding a little bit of a reverse. Amy talking about how the united states is number. One would be great but it's number one. It's nothing nothing compared to the uk health minister who really really knows their number one as the uk is the first to administer. The vaccine law did the fact. That britain is in the process of and has brexit. It did that. Mean we got the vaccination a world. I ahead of the us and the eu. Yes or no. Do you believe secretary of state. I just reckon we've got the very best people in this country and we've always the best regulators much better than the french have much better than the belgians have much better than the americans are. That doesn't surprise me at all because we're much better country than every single one thousand so it did help i someone lying when they do that. Let's listen again. That doesn't surprise me though because we're much basic country than every single one thousand so it did help that we brexit had finally. I know it's just a stutter. Right not there's no underlying the guy's going to fall on Cpu overload is like is hard drive and writing fast enough. That was finished medical regulator. Making it happen. Means people in this country are going to be the first ones in the western world to get that phrase or in world to get that fires a vaccine real competitive advantage. But do you know who is down to. It's down to those brilliant. Brilliant clinicians inva- regulator. Who's made it happened so fast. So this is a problem because this is not just a vaccine. This is not any vaccine. It's the pfizer vaccine. This will not stand as we know. The eggs are in the mud. Dirna basket ladies and gentlemen. This is the one that found. She has a patent is part of the patent is how it works by the way. It's all it's all above board when the national institutes of health and certainly foul cheese Department of death when they work on staff with pharmaceuticals they are listed and added to the patents and get payment to get royalty pat payments for that so he He pooh-poohed it and he said a this is. Maybe maybe not the smartest thing to do the. Bbc has a very good report of what he said that offended and the rather lengthy ask sucking he did to get back in good graces with pfizer has nothing to do with you. U k has nothing to do with your health or the vaccine. It only has to do with the money and the promotion of pfizer which we identified on the show. Ha was the one to win. According to our insiders now madonna is has not rolled out yet that has not been the choice of the uk. And it's a problem for dr fauci announced. Yesterday it will become the first country in the world to approve. That vaccine meaning mass injections could begin next week. In britain and defending the approach of america's regulator which is more cautious. Not anthony initially took a swipe at britain accusing its regulators of taking a shortcut in an interview on. Cbs news if we had jumped over the hurdle here quickly and inappropriately to gain an extra week or a week and a half. I think that the credibility of our regulatory process would have been damaged. And we would have more people you know i love the brits they great they're good scientists but they just took the data from the visor company and instead of scrutinizing it really really carefully. They said okay. Let's that's it and they went with it now. How that t. He's he's giving it to them. And and i think the most egregious accusation is. Oh they just took on face value. What was in the took. The pfizer said okay. We're good to go. pfizer says. it's good let's go there. They they believe whatever they were told those idiots so transparent what is going on here but off to blistering criticism from across the atlantic in the uk found. She told me aaliyah that he apologizes for those comments. And they have the utmost respect for his uk scientific colleagues. Listen to this. Suck up job first of all. They're really has been a misunderstanding. And for that. I that i do have great faith in both the scientific community and the regulatory community at the uk and anyone who knows me and my relationship with that over literally decades no. That's the case pfizer. I really do love you. I'm sorry i didn't mean that. I was just promoting my own house. I know i've got other deals with you. I'm sorry the point. That was really trying to make and i did not make it appropriately. Well and that's the reason why i welcomed the opportunity to get on your show. Wow is this. I've never heard him suck like this and say that i do have confidence. It came out wrong and that was not the way i meant it to be in the united states. There is such a considerable amount of tension of pushing back on the credibility of the safety and efficacy. That notice. what he's doing. The problem is not that foudy is a commercial a whole. The problem is americans are conspiracy thinkers. That's the problem you see because we don't trust the vaccine. So yeah i mean it's it's really the americans please just don't i didn't mean that it's their fault. If we in the united states had done it as quickly as the uk did and that's no judgment on the way the uk did it and even though my statements did come across looking that way that if we add for example approved it yesterday or tomorrow they'll likely would have been pushed back on an already. Scrutinizing society has really. I think in some respects in the united states sue much skepticism about the process so when we had conversations and i had just had a recent conversation with a uk station. The first thing they said was How we beat you to it. We won the race. And i wanted to get the point. This is not a race where there's one winner and one good one in one bed one. It's a bunch of companies and a bunch of countries trying as best as possible to get vaccine to their citizens as quickly as they could possibly suck up some more to do that in the united states but our process is one that takes more time that was taken with the uk. And that just the reality. I did not mean to apply any sloppiness even though it came out that way so if it did i just want to set the record straight. I have a great deal of confidence. In what the u k does both scientifically and from a regulatory standpoint. If i somehow came across differently. I apologize already. Yes now you know what this is all about right. well there. There is something. But i don't know why it was. It was a simple phone call from the from the pfizer rep. That has the cbs account. Of course i a media buyer s. We can't low cbs. We we heard what you're you put on the air. that kind of demeaned our company when. You're mr vouch. The expert there said they just read our tex sheet. And we're liars and i want to point out to you something. Have you looked at the balance sheet of how much advertising money we spend with your network compared to modern for our boehner pillow dern spent with your network zero. They've never done anything so do you. Are you going to sit there. And let and let this kind of stuff pass. We're not gonna put up with unless you want us to pull all the ads every ad we do with every subsidiary in every company. We have anything to do with. We're gonna pull from. Cbs and move it to nbc. Is that what you're asking us to do. Sorry you're on the phone at real valley. Of course there is an actual problem. According to the literature from oxford that the pfizer vaccine may may result in sterilization. Which i get that. There's that and don't forget the other one may only last ninety days. Yes that's another good one. But the sterilization has put the conspiracy. Theories got into high gear. Obviously i have not heard this. Oh yeah it's good and it's backed up. I think poorly. But i did wanna play this short clip by sir. John bell of oxford. he's also member of gabby. Which is the vaccine alliance headed by gates the jesus for gabby and sage which is the serie organization to the uk government. And he said this in a in an interview which i think was is old. I think it's at least a month old but it's going around as say. I'm hoping that's going to happen. Pretty smartly this honor. But then don't forget their these. Vaccines are unlikely to completely sterilize population. Unlikely to sterilize the complete population. Now i believe he meant as in that would clean you of any infection. These in you know but it as as a as a high end Sir note no less from answers are agencies exist. Yeah wouldn't he use a different term inoculated. Wouldn't that be the term. But he says sterilized and it only plays into the classic bill gates. Ted talk this equation house. Four factors a little bit multiplication. So you've got thing on the left. Co two that you want to get to zero. And that's going to be based on the number of people the services each person's using on average to energy on average each service and the two being put out a per unit of energy. So let's look at each one of these and see how we can get this undesirable. Probably one of these numbers is going to have to get pretty near zero. Call back from high school algebra. But let's let's take a look i. We've got population of the world. Today has six point eight billion people. That's headed up to about nine billion. Now we do a really great job on new vaccines health care reproductive health services. We could lower that by perhaps ten or fifteen percent. He's always talking about having less people after saving their lives. I've never understood this now. There's a possibility that we can connect the dots. Vaccines will reduce the population it. I i don't see how that works. But he always puts it in the list of Reproductive care back and vaccines that will lower that will lower the population and his reckoning with that as well in the poor countries people have eighteen children because they know half of them are going to die. I don't know but you can see rationale for the home. You can see why in combination with information from pfizer itself that. They're not quite sure if this will. Sterilize sterilize people general public. Now we have nothing to worry about because it doesn't matter what vaccine is showing up. Everyone's gonna take it especially you can to navien. 's here's your health minister again. But will you as chief medical officer of health in any way make some sort of mandatory vaccination recommendation so similar to our are all realization programs in the province of ontario. And we have some special acts relate to that school pupils act etc. We can't force someone to take vaccine. That's clear and because we wanted to make sure that people say is the only would want it and we wanna make sure we have all the information they need as well as all the safety information picks up for What we can do is to say sometimes for access or ease in getting into certain settings if you don't have access nation than you're not allowed into that setting without other protection and promotion of materials so maty mandatory is proof of immunization or vaccination the proper product in order have latitude and freedom to move around in certain like access into long care facilities or the hospital different things without wearing other types of forum of personal protective equipment etc seem as school. Attendance may be much like other vaccines We haven't gone there yet but we would make it mandatory for access in and sometimes being scolded if there's a risk or hazard going on so it's more of Facility of movement and around that not that someone is going to be forced to take it against their will a reason to go to covert freedom. Pass dot com and tell all your friends. It truly will free your mind of everything that you're being told and it appears to me that we need to keep a very close eye on any Stimulus or rescue package. That may or may not come out before the end of the year. There's a lot of talk about it and let's pay very close attention to what the sectors that goes to. I guarantee you for a lot of money is going into airlines. They probably will come up with some kind of requirement for proof of test or proof vaccination because his government government money they will they will have the government be the bad guy when you can just pay the commercial and secular to do it for you just like spines a good point just like spying. It's the same thing. Why would we spy. We'll just buy it from you. Guys commercially stupid citizens. Give it to facebook and google and twitter willingly willingly not going to be so easy in the united states particularly amongst the black and brown communities who are always talked about as such in the mainstream because of the black and brown communities of america are not stupid and they've learned from their own history to gigi anyone. Distrust in communities of color is not just a small town problem. It's nationwide a study conducted in september exploring the issue in black and latino communities found. Just fourteen percents black people and only thirty. Four percent of latinos trust a vaccine will be safe. It's like almost to me like a a fear. Like i have a phobia needles. I'm almost have a phobia. Doctors carbon daily was diagnosed with covid. Nineteen in april. bailey says. She avoided medical help because she feels. She has been poorly treated by doctors in the past now. The grandmother of three suffers from adverse effects with her heart. Lungs and kidneys. Sometimes i could barely walk. Tie the hurt and what to do what she will. Not do is take a vaccine. We don't know any kind of side effects from them. So i i just really felt like at this point where people that's going to take that vaccine is guinea pigs. I just felt like you. We don't know enough in the. I was looking at the pfizer stuff going through the sterilization part there were i think. Only of the was only fifteen african americans in the entire trial of thirty thousand. I don't understand that may not. Maybe maybe i don't have the right data but that seemed a little under underrepresented to me. But we have nothing saw numbers that seemed higher than that there was a percentage and it was something like It was like i thought it was fifteen percent. I may have misread it. But even then that's a little low particularly because we know that they suffer disproportionately. But don't worry we have help all going to be okay. You know you're gonna take the vaccine. Why because of this guy anthony. Fauci tells me this. Maxine is safe And can Vaccinate immunize you from getting absolutely. I'm gonna take it. May not you on tv or having filmed just to the people know that You know I wish science science very few people that are actually experience in science in other words. Never don't have a degree in size. Never worked in. Scientific are the ones who say that. Oh i'm sure. I'm sure now i want to read this. I want to read this little Report we got from an anonymous atom. Here's the uae cases. continue here. They continue to climb. But the government's opinion is that they. This is norma. And their opening everything. Restaurants bars gyms weddings house. Parties and on schools have been open since september. Oh and if you've ever been here it's hot. I've been there. It's very hot. Dan haughty says so. None of this outdoor dining rubbish were all inside in air conditioned spaces. No problem downsizes. You can't talk about it. So nobody talks about it because of the state and they don't it's not publicized so everything's normal and lots of parts of the world and because of i don't know what what the deal is with these which is annoying to me to know an Government yeah i mean look at us texas open we have no restrictions adler trying to make some noise but he can't he's been totally discredited and we're having a pretty damn good life we one of tina's friends is over from chicago. Went out last night. We went to mongers fish market which was Open and as full as they can be for the of course. They do have some restrictions but completely packed for what they've got. Meanwhile the only thing open in california is i think the the weed dispensaries are open. If i'm not mistaken dispensary. Is that for. You definitely opened so the french laundries open now. Should there be a problem with compliance and people willing to take the vaccine. Oh we have to do is talk. To larry larry lightfoot. I've learned from our chicago friend. That's what they call her in chicago. Now lori lightfoot mayor lori lightfoot is known as larry and disliked that they call her bait beetlejuice is she said that but no everyone calls her. Larry larry lightfoot which is bad enough. You don't have to go to the beetle juice. But she was asked about this and she knows exactly how to take care of this problem. Would you support vaccine mandates. Look i always think it's better to educate people into compliance if we can but we can't live in a world where only certain people are taking the vaccine as summer are opting out. That won't help anybody in that. Will perpetuate the spread of this incredibly deadly violence virus. So we're looking at a range of options but our first choice obviously is educating people into compliance. I love this term educate. Yes how is it. Incredibly deadly when the stats clearly. Show that it's under one percent. You need to be educated in compliance young man. You haven't been paying attention. We need to educate you into compliance is not the same thing as telling people to obey. You must obey willow bay you will obey. You will obey. You will obey educate into compliance. That's right that's education camp if you don't that's just rude if you don't pay careful attention yes the reeducation camp Let me see what else i have. The new york times says the true pandemic toll in the us is is in reality. Three hundred and forty five thousand. We have encountered ride search. Shut up slay our low. We're low on the count The canadian produce over this information about the cova cases. i'm going to read this. Because i left important. Piece of information out Here's a piece of information missing with the picture of the hospitalizations caused by the covid virus. Tumba people that go to the hospital. They get tested when they are hospitalized. For whatever reason and bo situations have been added to the total that. Apparently i know here in canada. Everyone who has admitted to the hospital and test positive for pcr is added to the official hospitalization total of covid patients. Even if they're not in their symptoms and the reason they're in the hospital wasn't the virus from yeah. This is a medical scam medical scam medical industry. Scam bra one more thing on the vaccines. There's a A fact sheet going around. Actually what was this. This was About side effects from the vaccine. Then yeah there's the typical things that You know pain in the arm pain in the ass et cetera et cetera. But a lot of the literature is now changing some percent or trying to change some perception when we were looking at the vaccine industry and just to recall how we got interested in it. I came across a financial conference in because two thousand ten two thousand maybe earlier. Two thousand nine it was during swine. Flu had to be earlier earlier than that and the it was a financial conference at all the pharmaceutical companies. Everyone agreed this was a hundreds of billions of dollars industry. Because we can make vaccines for everything in the future. This is really what madonna is is the By the way this was that era that same era when you discovered this powerpoint that within a year. they're coming up member the vaccines for smoking over away all of that. None of them were vaccines in the in the least but they were trying to get in under the umbrella of the liability issues right Which is obviously still there now with the vaccines. The one thing we bumped up against is the use of aggravates and aggravates. We kind of concluded if i recall in our unscientific manner where a little dodgy because they work as a form of hamburger helper to really a kickstarter exact. Same frazier used back ten years. That's why i remember it. So now we have a sub head in these articles vaccine vents. Bring the danger. We need explaining how Particularly with these m arna vaccines that your immune system still needs some kind of kick start to start producing Antibodies against whatever is invaded spikes. Yes and the. Mri may not be enough so they add some of this Atrovent which just makes you. Your body thinks that you're being attacked. And we've seen some bad results from overuse of events but now it's being here. Advent are safe but designed to inflame. So the i think this is all part of the education process which we've seen the the survey. We've seen the reports the studies. How do we teach people. I think that's kinda good. They're going head on by addressing a lot of the concerns that people have by lying about them which is great Do you shouldn't worry about anything. We will re educate you into compliance in the final thing just as a as a conspiracy report. There's a lot of links now connecting anthony fauci to mother teresa and child smuggling show disarray. No that's out there Apparently mother theresa was not such a mother. Teresa after all know christopher hitchens made a career out of blasting her at every chance he had just thought she was a horrible wholesome house that i miss lectured lectured about this It was pretty funny. Because i certainly got his the early one. I certainly got the programming of of how to think about mother. Teresa but i didn't realize that she was so evil that saying she is just saying that's what we got going on. He saint so To take i. I'd like to take a break in a minute and then we got to come back. We have lots of election news. I'm going to spoiler upfront. Everything is china's fault. Just so you know. The wuhan flew the vote corruption and And stealing and flipping. Everything's china it all points back to china. I'm letting you know now because that's what you'll be hearing over the course of the next two months and let's kick it off with gordon chang. I think respected here on the show who hates china at least the chinese communist party and he knows exactly the major major she a hater and he knows exactly what china is doing china's efforts to collect. Tna of the world's population have been determined. I mean they're not only collecting chinese people's dna but they're collecting dna of everybody else. So for instance. They've been buying up american companies that have dna profiles. Also they subsidize the dna analysis. So if you go to an ancestor company chances are that it is actually a chinese. Business is looking at your dna and that of course can be shoveled on to the chinese central government or communist party. Also there's been hacking we know that china hack. Which is america's second largest insurance company that was discovered in january. Two thousand fifteen. So there's so many different ways that china is collecting the dna to make probably the world's biggest database of dna people on the planet. I think that china has at least two motivations first of all we know that bile businesses very important to them be included in their natan china twenty twenty-five initiative which is a decade long program to dominate certain industries including biotechnology. But also there's something sinister about this. And that is. We have heard reporting from bill gates for instance in the washington times that China is probably trying to develop diseases that target not just everybody but target only certain ethnic or racial groups trump. don't trust china. China is ass. How there you go everybody. I'm glad that you went for your twenty-three me. Dna tests good with your ancestors dot com tests. They're going to design diseases for you. Did we not warn for something like this. Did we not say writers have been talking about targeted genetic targeting which this may have already been years. This may have already been is very possible. We'll every look at the fact that apparently nobody in china if you're going to believe the numbers has gotten a another verse. You haven't gotten covid to whatever you wanna call it They haven't caught this virus in the last nine months or working at full capacity over there. And there's no cases but everyone in western world is d- infected course. Then the whole thing could be a fake on both sides but as beside the point if we're if we are to take the numbers at their face value and assume it's all true bottom. China has cases at all. Well here's what i'd like to know where all the dead vaping people that came and went so fast where all the people who died from vaping dare in the same room where they got hundred biden's laptop. Here's the theory. I've been working on in vape constantly. I vape and it's a propylene glycol and nicotine obviously isn't it in these. Vaccines is also polyethylene glycol. Which is not far from the stuff that That is used for the theater. Smoke and the and the vaporize ation these ac e two receptors that we talked about the way in the beginning and there was difference in people who were smokers did or didn't get the covid. I have a feeling that a combination of certainly the nicotine and a pro-clinton glycol has been proven. We have lab tests on in. You can look it up being a dot. Io has been proven to kill corona vaccine on the it comes in contact with the virus corona. Thank you. i'm doing a reverse. Who do the same thing. Everyone else is doing reverse. I said vaccine instead of them. That's better but you're right. Stopped me on that stuff. the ac two receptors apparently said it is very similar the the nicotine somehow a tracks the corona virus. This is just a some. I'm not a scientist. So i'll just say at the end of science and you believe me. And that's the corona virus tricked away from your own. ac two receptors and tries to bind to the nicotine. So all i. i'm just pulling together and saying maybe they wanted to get kids in particular off of the vape sticks because we needed to get them infected and we even tried a little bit later on by saying haw if you if you vape you're definitely going to get more infected. Which is clearly. I have not There's every reason for me to have been deathly ill every reason you take vitamin d three through as you might you you. You're gonna continue on this line of thinking. Please play therapy and in the background. Thank you for your in the morning to you. The man who put in the c in educating into compliance john's Well in the morning to you. Mr adam curry also in the morning. All ships ac- boots on the ground feet in the air subs the water. And all the dame's the nights out there. Are you talking through a tube. I am talking through a tube in the fourteenth. The trolls in the trauma room hands up. Trolls hands up hands up. Let's count you put little troll counter on. Oh twenty thirty two nice to see you. Trolls good work on sunday. That is the troll room available to all at no agenda stream dot com. We're not only. Can you sit there and troll along with all the others under that digital bridge you can also listen to this show live. We've got darren o'neill once again did a great Roll pre stream show for us. And they've got nick. The rat does live stuff for rhino the bearded but also podcast just that perfect from all across gitmo nation. No commercials mostly talk and certainly no agenda that is the troll room no agenda stream dot com and you can ask for an invite their to know agenda social dot com which is our Go free social network. It is federated so it does work across all these other servers which are all their own micro communities and since there's no al goes the signal to noise is quite enjoyable and you will like hanging out there. I did want to read Briefly since he sent a note and we we couldn't find it on the last. I think he became an instant night. David fox. I just wanted to read this note i paraphrase that somewhere along the along the line Forgive podfather i have deuce have been listening to episode number one donated off and on over the years agenda shows truly great product. Not only is the show great but the producer network is outstanding recently. I was assaulted to the point. I was in the hospital. The first thing i remember when coming to consciousness in the hospital with the nurse coming in the room and saying sir. Your friend from australia. Chris wilson wants to talk to you. That's right my. Cb radio wife. Chris tracked me down in north carolina from new south wales. Then right after that. The second call i got was from. Dc girl who also track down at the hospital the no agenda producer. Networks swung into full effect. Making sure i was okay. I had someone checking up on me. Twenty four seven. All of them people. I met a no agenda. Social talk about value for value could not agree more and that is indeed. Exactly what's going on over there. It's really beautiful and thank you to farm slave. That can't be farm slave. Let me get the right. That was the previous. Let me go back and get the right. We had Show thirteen hundred interesting. Why show thirteen hundred. Not showing up here on my there. We go title that was electrical college and the art work. Well we went with mountain jays very nice thirteen hundred with blood like letters vampire letters We had an audio wave. Form are classic mike They was just kind of a beautiful piece with the white background. So it looks good on the white web pages The best podcasts in history was the monitor on this And did we have anything we needed to discuss about this about. Your was a lot of art. Lacking now i should mention something. Sure the artist so can see it on a show like thirteen hundred or even thanksgiving christmas. Maybe it's national dates. Yeah he's special day shows It's might not be a bad idea to do something dramatic to the day it. It's not that often maybe ten a year true as opposed to some pawn or something. That's funny about some little moment in the show. The thirteen hundred show. The most important part of the show was that it was the thirteen hundred show and it was lacking number of people who who picked up on that. I was kind of surprised. Yeah well not. Everyone knows this. But stated as such there was a couple of It was way too busy most of the art just too much stuff in there. Too many letters not clear something pops off the page. I mean all valued efforts. No doubt but i agree. It's the for those types of shows. The the big thirteen hundred or a turkey or santa claus or something like that is kind of what you want and for those of you are podcasting to point -o compatible app. You can see all these art that we're talking about right now. If you look at your screen. I go to podcast. Apps dot com to find one that is compatible with your no agenda show and we have as part of our time talent and treasure value for value system where you give back whatever you get out of it. Not only do. We have the great artists. Thank you know agenda. Art generated dot com. But we have our executive producers and associate executive producers to thank right now in starting with matt lovell matt is in mccoy akita. Makita i don't know how to pronounce his and it's an iowa of all places corcoran macaca mock makita. But the choir goes macarena makwe keita. Mccormack woulda one thousand dollars and fifty thousand is oh five. Oh nice thank you for that. I wanna make sure your stockings were full. This saint nick's day. I was hitting the mouth by my generous brother. Mike from walk who donated five hundred fifty six dollars from me in october. I would like to return the favor and get him to the round table where he belongs before the corning festivities the korte coming coming coming. Our i would be thankful for some mac and cheese a long cut sharpton both of which are plentiful now but will soon be hard to come by mike and pick up his own night name but if he had to pick if i had to pick one form of it'd be mike night of all tradition. Lastly is in need of deducing. So we have that spend deed douched. Okay so he'd be on the list and you'll be your give him executive producer credit. You'll you'll get that in mcintyre teeth so that's not the right back and cheese. I'm sorry what does this then. President trump said that because of the killing of al baghdadi dag d. The world. Better place. And i would give credit to he and those that were responsible for it but we have a lot of work that must feel be done in the area of terrorism in the same area of the world. Were alba dag daddy. In our own nation your slaves get the macintoshes to rony. Scatter melt together. Mac and cheese mac and cheese mac and cheese go matt. Thank you very much for your courage. Onward with jenny. Jenny jenny j. naples massine our vodka colorado five hundred eighty eight dollars and ninety cents and she sent a pdf file. All things Letter of explanation to back coin. I tried emailing an image that took took of the coin. I found change in my original donation mentioning the bad coin on your show back in june but it must not have gone through as adam promptly debunked the coin so to clarify this quarter has actually been in circulation all year. Yes i was incorrect. And i believe i stated such well. I don't believe you did because i did. I saw. I think i remember being quite strong about this is bullcrap that it was a commemorative coin. But it's not it was an actual quarter that was minted with the bat bat with the baseball bat. No a bat as in a wuhan flew bat. What was the point. When there's a vampire coin getting it was okay. There was a quarter that people were finding a twenty five twenty five cent quarter that had a bat on the on one side. You know this really yes. Is it collectible. Well i'm by the way i am and i like coins. I keep going talked about this campanella. Here it is a quarter with a bat on it will be this is. Cincinnati will be minted in the new year's part of the united states mint america. The beautiful quarters program which honors national parks and other sites across the vats possibly. Yeah i think so. I think now is starting to remember. I think it had something to do with san antonio. Texas austin is the. We've got the bat bridge. I taught the san had more bats than austin. It's it's so creepy if you look at this because i'm looking at blow up of it it's too bad it's one is hanging. Upside down has a baby bat in its tony. I'd super creepy so. She sent them in the po box. I want one. I'd i'd i never got a bad cough. I remember something like this. I think unless it was so long ago. I just to settle. Game mailed approve a quarter. Each of you. I hope each each of his whole package. You're right before the show. Well it didn't. I have seen the coins coming through if i see it. I'll put it aside for as i own. A restaurant in denver took a little while For one of the coins to come through my restaurants cash deposits. It was great random. Find for my marriage as we look to two coins mailed to you. Both couples that no agenda together do indeed stay together. Apparently thanks for the bad coin. We look forward to every show and often find ourselves quoting the clips randomly to friends that time like true with no explanation. Except that's a good one no explanation. just do it. I tell you. But i'd have to hit you in the mouse. Most of the time. They're intrigued and we have grown our no agenda community within our friend and family circles. That's a plus. A lot of people can't manage that no agenda has kept me sane through all this insanity. The value is far. More than i can afford to send today but this amount brings me the damehood counting attached. If available. i would love to be known as dame valentine of the blue bird powder region. I think she's on the listen. She yes she is. Thank you for your courage gentleman. And john stay safe. Little go. calmer for my restaurant would be greatly appreciated with gratitude. Just get her What does she want at the roundtable. I'm sorry i missed that. Yeah i i have the pdf. I just have to open it up again. I have to. I get it back now. County attached you can go nothing nothing. Okay go ahead and read the next one. We're good okay. Oh dave fukuzawa to america's heartland in the arabian peninsula back nice. Hello but he's back he's back. I don't think he's back from asia's back on the list. Yeah poor guy. Three ninety thirty gladstone. Missouri Go to neom while you're there you know there's a apparently What's his name. Kirchner whatever's name is some other guys. I guess maybe pompey are. They gonna go meet the prince kushner in saudi arabia before the term is up so day outta has been locked up in the united arab emirates for eighteen years. And this is your. This is your great idea for him. Oh you should go see those guys. He should go to neo honorable. The guy's been locked up. He can't leave check stuff out true. I have a clip. i wanna play. This is how important it is to go see. Neom just play this disabilities here. This is the neom rundown there it is. A neon will be massive over ten thousand square miles or over twenty six thousand square kilometers. That will make it more than thirty three times. Larger than new york city and a little less than the size of massachusetts located in the northwest corner of saudi arabia. Neon loosely connects the three continents of africa asia and europe and hopes to be a leading global hub. Neom saizen master a city the size of massachusetts and we invest in. Neom yell. yeah isn't strategy. Kidding is a need to exit the exit earth we need to go to neon neon. Neon's the place. Where i i put that in there because there's the code word in there and thirty three and so if it was auto needs to get that message he knows what's up lots of squirrel going on. He writes on the company recently with details. The follow as things start to settle out. Suffice it to say respect S respectfully suggest the tpp jobs karma with a deliberate aim in my general direction. got it. it's also time to once again. Celebrate my and dame melodies nuptial seventeen years and. We never had a fight. That's because you having been together for but maybe you would see how could you fight dame isabella's twelve th birthday. I guess you got together for that milestones that at last i'll celebrate with them from afar as usual awe. Of course such a suspicious happenings are made all the better with a toot of the official. No agenda celebration horn. Hello and some terrible terrier karma. Okay well we can always toot the horn for you. Congratulations from the king. Yes and much love from us from no agenda nation for your seventeen years together. I didn't mean that that's not what he was looking for. I gave him a dog karma. That was not the idea. This is what he needed. Ob karma that's better you gotta double man and that was definitely directed in you. Now you've got the next one and this brings up an interesting point for the his shortfall. This today okay. we have no associate executive producers. It is an interesting thing. And this is our last For the segment. Baron dirty dick bangs. Who is in washington dc. And he says congrats on thirty. No one figured that might be a let down after thirteen hundred yeah. There's no associates wide open dana. Few things one might tired. And true methods of sending jonah wine order or wine labeling. Getting insight on wine has failed. This is bad. Because i think everyone i know feels that they can text you john at anytime of the day. If there's a picture of a wine bottle or a list you'll reply so i'm surprised. A surprise failed as so he goes on to dirty dirty. Dick banks recently bought a two thousand fifteen bordeaux case or two which is wrong. You want the two thousand sixteen now. Twenty fifteen is great. Okay money sorry. I was unbelievable. I was out looking for twenty sixteen. I didn't know twenty twenty six. That's here's the reason. I'll say it again. I said it before. In the show you can pick you can throw a dart at a twenty sixteen bordeaux and it's going to be a winner okay. Twenty fifteen does is a great year but all there's a couple of areas where it's spotty. Well the difference he says it recently bought a twenty fifteen bordeaux can or two and then he says you need to check your email to celebrate my oldest son's birth year more on him in a second would love twenty seventeen and nineteen bordeaux recommendations to celebrate my other two boys birth years. I'll continue while you think about that at to thank you. I get the sanity. You provide myself in the no agenda chief hater officer my smoking hot wife who will never listen to the show. Because of her corrupted feminist view this is a marriage made in heaven are available to keep things relatively normal for three boys in difficult times the fact base statistics and sensible approaches to living life. You've provided on the which i then intern spoon feed to her. Unbeknownst to the na source allow us to avoid the enlargement hysteria for this antidote. To the steria. I thank you my oldest son barrett alexander. Bangs was probably screaming as i played this in the car. Because we're not playing. His favorite disney songs turns five on monday. Twelve seven is small small world. It feel better now barrett. You are my nugget. I love you. And i'm so proud of you. Poor barrett's grandparents. Who are my folks and his uncle and aunt my brother and his wife have all. We'll have punted on barrett's birthday due to the hysteria liberal cards the irony. My parents both already had kobe. And as i saw a recent wall street journal a whopping fifty four to two hundred million cases worldwide have gotten it twice. Hopefully they're spending my entire shit. Hopefully hopefully they're spending my entire inheritance on the lottery as we speak. Since they're su- special out to archer campbell bangs age three and colton read banks. Eighteen months both probably screaming as well currently since we aren't playing their disney songs. Either love you both and thanks for being such good little brothers too big brother barrett. Could you big sales calmer to close out the year and health karma first doctor's appointment in two years on monday. I wish i was in bed. But alas after traveling to disney for thanksgiving. This is the problem with your family. You've got to cut back on the disney. Mind control for these children please. I beg of you look up the wizard of oz after traveling to disney for thanksgiving the boy school is required. Sorry wizard of oz not at disney products. Yeah but that's where it all started. okay all right. You're right look at christina. Aguilera enough said look at britney spears enough said so we He'll dad is the boy. Schools requiring by fascists of montgomery county maryland. Which i used to live in montgomery county. That's where i where. It was a few years after he came back from africa to get covid testing prior to them coming back so we all got tested. Negative and i got a sinus infection from the test. Will you gotta s dirty swab baby. They infected you. Is that where you're gonna say. John well say that or they swab in some serious. And which would that be in the dc area or montgomery county to least the area. Apparently we have several regularly tested frontline workers as friends and family and this is a common side effect so while i should be in bed. My head is blasting with sinus pressure side. Note pretty sure. I got cove last christmas. It's been here longer than any of us realize. Thank you for all you do. What's truly is priceless. Barron dirty dick bangs of dc. Ps i'm an eagle scout fairly remarkable. How many listeners are and like most eagle scout listeners. my energy and like most eagle scout listeners. Mike kids won't set foot in the boy scouts. Sad the corruption such a wonderful organization. I'm also jesuit educated. I'd be willing to bet there's also a larger. That's also a larger cohort of your listeners. Yes i think. That's true including dr anthony fauci so we'll thank you very much with. We do have some Some health karma. And i'm doing a throw in a little bit there for you and the banks family you've got now. Why did you see one. Ninety nine ninety nine on the we want to push that one person up as as nelson associated person specifically said we'll read note actually says we were short. Short is a rita's note. This is dana. this is our the. Hollywood are hollywood producer. Celebrity dad brunetti known from social social. Halfway house get enough. And and and and fifty shades of grey fifty shades of grey or one hundred and fifty shades of seen. He's more embarrassed by except his banker. He's not embarrassed by that at all. This state of jesus state of jefferson. He claims oh sorry for the one ninety nine ninety nine but i have to avoid the associate producer credits. They hurt my standing in the industry. He says if. I have any left of hollywood. Imdb page however happy to report. The karma works. Ironically i solo show too. I m d be t. v. well there you go. The karma work also the rain stick works arm here in a tree fell on the airstream and destroyed it to be fair. To be fair. Awnings on the airstreams are pieces of crap. He'll he'll confirm their crappy. John turner speakers down his stop clicking your pin anyway. Agneta go tasting with him on monday. Oh you're going to go. And what are you going to be tasting. We're going to vary k. That's verite verite verite verite. What is very hey. Is that a sign ary up in snohomish county wandering in the northern partisan alexander values is one of the probably four super high end Wineries that is unlike the other ones. This one is a little more problem. I'm guessing because i haven't been to the two two of the other ones Very very slick are you. Do you have to be very tae if you go to verite. Yes yes. I have to say yes. Tell me in your yes. Verite voice about the twenty fifteen bordeaux recommendation that now. What did he want. Dick banks i we about. He wants twenty seventeen and twenty and nineteen. I'm to send them a note on this. Okay twenty seventeen is the sketchy year in bordeaux and i think it's generally not good But there's good wines that come out of it like they're but they're all high end so you have to buy an expensive wine for two thousand seventeen if you want to hold up. Otherwise there's not like you go through the dart like you can with twenty sixteen twenty eighteen and nineteen have not really hit the market yet but both of them look like killer years which is better of the two. I think they're both going to be great. But i don't know which one's the throw the dart ear but twenty thousand nine hundred. I'm guessing you can just pick anything out is going to be good but you wanna pick for kids because you want to wind the last at least twenty one years you do was is that a thing will bordeaux's a good year last fifty years but twenty one years is what you want because the kid can have. Some wine is wine year when he's twenty per this so cute as hell. There's wine and you know it's just kind of it's kind of charming go. Yeah tell tuber well. It is to wine drinker. I anyway we were at the restaurant last night. I specifically look for a twenty sixteen board. There wasn't a bordeaux on the list so outrage and outrage or maybe it was roberto and had some france and other asia. Here's a generalized wine tip because we're always seem to want these things on a second hold on a second catalyze coin generalized wine tip. You go to go to a restaurant. you don't know anything and you know you gotta some eight. If you really some ease no good unless you know how to talk to him and that means you better know something so this otherwise they're just bullshit you but if you know talking about you're gonna give us some phrases to us so we can impress him. Now i'm gonna give you a wind to pick. Okay because if this wine is on any wireless and it's on most wine lists because they need these alternative cheap wines that are good and this is a cheap wine. that's good Outside of beaujolais was usually. If there's usually on the list you can talk to the somebody and they'll tell you which one might be the best. But look for a g thus g g g gone. Gigo a. s. is a rhone valley. Wine is the recent appellation. I think for maybe twenty years ago or so. It's always dynamite. I don't care what year it is. If it's on the wine list. I guarantee you picked it up for a reason because it's good tasting cheap so if relatively cheap can i ask a question would it be. Then if i'm in the can. I say something like do you have Gonda or something like that when you sound like at least unlike a loser off. Don't do that. i will refrain. You got it. And thank you to our executive producers exclusively. Today that is not happened a long longtime that. We haven't had an associate executive producer. I don't even know if that's ever happened. Usually the other way around. Where we we bump guy here. No no one got bumped. He's all is all bummed. Down gets bumped down so we just don't have one that's the way it is. But we are highly beginning of the end highly. Apprec- that's your bill back better baby. That's how it rolls joe's coming in shows going down. We highly appreciate the support that we received from these executive producer. And we'd have more producers have certainly supported the show. We'll talk about them. We'll thank them in our second segment. We do need your help especially from your associate executives out there You know apparently. Hollywood is given up on us because they're being shamed shame for promoting the show shane for nine promoting same for producing it. Imdb shame a by the way he says. He's got a gig. And i've look. And i said what is that you know what it is. Yes i think. I looked it up. It's did you know that. I m d was by amazon. That's amazon tbs right. I didn't know this. Because i looked at her. Like i am. Cdt whatever's is like some sort of an amazon second channel. What would you be more ashamed of saying that. Yes i you agree that you produce the no agenda. Show your produced a show for amazon but no on amazon is i m d be but that's the head fake. 'cause it's oh i'm d- btv. Yeah it's a jeff bezos property. A he's actually has to live with it. S right you have to live with your choices. Young man shoot aside and again thank you. This is exactly how we treat our top donors and somehow they like it. I'm not quite sure how that works. it for awhile and we'd love to do it again with your help On the show coming up in just a couple of days. We'll be thursday and we are getting closer to all kinds of fun deadline. So there's certainly stuff to deconstruct. Please please help us. And support the show by going to dot org slash and that's really all ask for your time your talent or your treasure and thank you for producing the show. Hot formula is this. We go out. People in the mouth shot a little entrepreneurial a little entre mom before we get into other stuff a win a win for saying this a win for people like myself Who are sick and tired of lying scumbag fellow travelers haha haha. Suck it we'll tonight. There's a new rule for airline passengers. No more emotional support animals next year. The only allowed on planes. We'll be dog specifically trained to help people with disabilities that rules out cats and exotic pets including turkeys and peacocks dogs. You're finally finally finally finally and you will be required if the dog is for psychiatric purposes. You will be required regardless actually. I don't think you can be required to show why you have a service dog but you'll have to show the true service. Dog papers not some phony baloney saddle you through on your poodle that says emotional support animal second you pussies so sick and tired of these liar was out of control. I was lie liars And they get to board first with their lying dogs. So that's over. Thank you that really trying to squeeze every dime. They can out of passengers now. They need people to pay their pets. And they got no money. So i have a couple of little side projects here a little side reports from. Nbc this is apparent. What's coming up package getting package. You're getting tax package again. Yeah package getting occur because all these stores everything's all the shops are closed. Everyone's ordering online and so now there's a delivery services can handle its package. Get in so. I picked up this a very short clips. Nbc did a whole ten minutes on it. But i got this this. I found this to be peculiar. This is package again with odd reporter. Nbc the holiday delivered crushes on with a staggering number of packages by christmas. Companies are now taking extreme measures and the new deadlines for gift delivery. Join cat has details with christmas around the corner the shipping russia's on an expert say this year there will be two hundred fifty million more packages delivery. Systems can handle rebuild. The having three billion could just for thanksgiving christmas and that is not counting the millions of packages. That will come starting middle of next week for over. Nineteen that's weird. That doesn't writing this indian guy in an echo chamber. That's because it sounds like there's some science to it. Sounds like he's in the this more of the reporting is this the best. Nbc can do is find this guy. This indian who sounds like he's calling you about you know marriott. Special offer or the irs is after you know the irs is after you or your social security number has been compromised. So they bring this guy in as the what. And so i thought this was idiotic and so then they go to the end of the report. This is package getting odd voice. Drop now they. They put him in as a punchline in another in the later part of the report wants to play this. Because if you leave your shopping to the last minute procastinating for your the linked to be better. Extensive shipping fees will increase. Okay who made the first thing. I observed he's talking about because covid vaccine. That's not being mailed that's supposed to be distributed by. Yeah that's true operation warp speed but deployed. What is nbc up to. They have to use this guy in it. He's in a closet or in a bucket. I mean it's just lame. I've got an example later in the show. Some very poor editing. nbc's really dropping. The ball. here. But i don't think this report was about ship again or anything else. I think it was about this native ad. Part right in the middle of the of the of the package getting report. Is this little native ad right in the mid. All listen to this instacart. Now offering same day delivery for major brands like the disney store bed bath and beyond sephora and more let me hear that again instacart now offering same day delivery for major brands like the disney store bed bath and beyond sephora and more kung. What's the point of that. That's totally a native ad. For instance charged disney store x. Amount of money just to be mentioned in the report. I'd like to know what he was. No i really don't care doesn't matter who's watching that. The only person watching is you and it's not working on you so the president was. I'm going to transition real fast away from that. The president was in georgia yesterday and yeah and he had a big rally with a lot of magazine very very excited to have him there and he was relaxed and chilled and he was cracking jokes. It was very relaxed guy. The first lady came out in a dynamite dynamite maroon red leather coat that she looks fantastic. She almost winged it without the prompter got through most of it pretty well. And here's just a couple of soundbites and cucumbers. Who who does cucumbers around here. Because i like you. I'm the only like you can tell. He's back to his old self. He's he's relaxed. He's chatting about cucumbers. it really doesn't matter too much. Everything seems to be pretty good. He does see something that we've noticed as well and this is should all go awry in georgia with the with the vote counts and it turns out that there was some hanky panky business going on according to mow facts that the stacey adam abrams would be left holding the bag and the president called her out. Whatever reason your secretary of state and you governor are afraid of stacy edwards. They're afraid of so he's Amping up everything on on. What's happening in georgia now. if you're interested in wanting to dive deep into all of the mounting evidence regarding election fraud and can save voter fraud but i think election fraud is more accurate and there and which lawsuits and there's new lawsuits going in continuously. Ted cruz is now involved. I find this very amusing. Ted cruz is going to the supreme court on behalf of the people. I don't know if it's the people of pennsylvania but on behalf of the people as he feels that there's a catch twenty two somehow that goes into the latches as to when you can when you do or do not have standing to bring a lawsuit and the in an election. You basically can't win Because if the election isn't as all the counting is done you don't have standing because there's no crime being committed and if you come after the fact and they say well. You should've mentioned earlier so now there's new now you're too late. Yeah this it's something. That is constitutionally weird. And he's going to fight that and that could change something in pennsylvania. Ted cruz first creepy as he can be. He's a good lawyer. Any has been at the supreme court and he has he has one stuff at the supreme court also which always surprised me when he went up against trump because he lost Was ted cruz. It was always the head and apparently are rough and tumble debater us. Ahead of the debating societies like a superstar debater and he was a master debater masturbaters wrath titled show after him once so. I have three clips. That'll bring you up to speed on on what's happening. I think the easiest is to start with the man who clearly knows exactly what's going on. He works cnn. So why wouldn't he know is happening with the morning. Briefing from jeff zucker. This is jake tapper to talk specifically about el cid. The cracking keeper and lynnwood are filing lawsuit after lawsuit. City powell new lawsuit narrow zona alleging four hundred twelve thousand illegal ballots this just in fact most of even fox i heard yesterday are going from No widespread voter fraud to. Wow what did you say. Open a beer gadaffi a miller lite a miller lite. Well then i'll have to port. I well okay. Mean that's stunt didn't work at got water over my pants okay. Well now i'm going to do my own version of it here. Perfect no water to there's lots erupt. That's gone. I wanted the ball hit. Anyway there's lots of the edible worn out you know. General flynn is now also come out and he's talking and so there's a lot going on but let's that's what i was saying before interrupted that fox news has gone from. There's no widespread voter fraud. Which i mean everyone says this. Oh that means. There's some some fraud election fraud but it's not widespread and now they've gone to well. It's kind of curious. The things are coming up with. Unless you're jake tapper. This is the best this is. This is the handbook for 'em five. Am how to marginalize someone who may actually be right about something. Just do the following. So pro-trump attorneys lynnwood and sydney powell who constantly push the most deranged conspiracy theories with something. Because there's there's a spectrum of if you listen to no agenda show those those cats aren't anywhere if you compared to these guys. They held one of these stop. The steel rallies. This week in georgia again. This is all based on nonsense. Made a minute wait a minute. Point of order point of personal privilege. You cannot say for weeks baseless Claims and then say it's based on nonsense. It's either baseless or not. Jake tapper again. This is all based on nonsense and they actually were discouraging georgia. Republicans from voting had all in the runoffs on january fifth to take a listen. I think i would encourage all georgians to make it known that you will not vote at all until your vote is secure. Day have not earned to vote. Don't you give it to them. Why would you go back in folks in another rig election for god's sakes now again as a factual matter. The vote was secure and is secure by all evidence and it was not rigged So what they're saying is not true. There you go that that report so outrageous I have to give clipper the day for that unexpected. By the way i have. I have be nbc version of what we need to hear this. This is very important. But it's not as good as well jake. Tapper is the big leagues so beyond. Jake tapper is really an opinion guy. Not a news. Here's the news guy this weird election report from nbc tonight. President trump headed south dialing up his pressure campaign. Against georgia's republican governor to persuade the state legislature to overturn. biden's victory. You gotta make. Your governor gets a lot tougher than he's been because it's taken this election is control of the us. Senate that really means control of this country waiting for him in georgia. Many trump's supporters echoed the president's unfounded claims of election fraud and my next president for the next four years while mr trump's trip is for georgia's high senate runoff next month. The president is fixated on the november election. He lost georgia's ballots. Have been recounted twice but the president demands a separate signature check for all voters today blasting georgia's top leaders. Why are these two. Republicans saying no aides to governor brian. Kemp say the president phone today. Kim tweeted as i told the president. This morning i've publicly called for a signature on it three times. The president fired back. But you never got the signature verification. Your people are refusing to do what you ask. The governor says he cannot lawfully give president trump. what he wants that is that a whip saw. What was the best whipsawed. I've ever heard we're refusing to do. The governor says he cannot lawfully give president trump. What he wants did you edit that in. That's the way the report. I did not toward there yelling four more years. What she's cheap. The whipsawed works like this sheet. Would trump wants his the signature recount. And that's what he wants. Yeah so they they edit in when she says the words give trump buddy once then they have these people yelling four more years which is also what he wants. But it's not part of the report so it's like a very advanced whip saw yes. I don't think it's on purpose. I think that just idiots. I don't i don't you say very advance. You give them a lot of credit You i'm not going to make an argument here. Okay but you might be right but it's beautiful Let's get an update hoops. Let's get an update from the horse's mouth so to speak from el cid the crack and keeper eleventh circuit just rejected our appeal from the district court's partial grant of relief to us and we'll be back in the district court for a hearing hopefully monday or tuesday. We'll see where it goes from there. But one of the things we want and have been trying to get with great. Opposition is the voting machines to be secured all across the state of georgia because massive evidence of the shaving of votes and the flipping votes from but trump to biden exists in those machines except to the extent. They've been racing things and destroying evidence as fast as they can do it. I have been my office right now. A huge bag of shredded ballots. I can't wait to see what that discloses and they're more on the way. Where do you get the shredded ballots. Who turns those over to you. Citizens are out there watching and observing everything. The people of america are not going to allow our president to be defeated by fraudulent election mechanisms. And these people have used every manner and means of voter fraud. You can imagine it's was heavily. Coordinated was heavily funded and they now have twenty-five lawyers or so lined up against us our little rag tag team of misfit toys that are trying to fight for truth and justice for the american people. Well positioned rag tag team. Yeah i think she has a lot more coming and we have some time. And i'm going to run through the constitutional timeline. In a moment with help from the representative from alabama. But here's my conflict my personal conflict. The show's title is no agenda. I have no agenda. I don't give a crap about democrat. Republican libertarian. I've never belonged to any party ever. Nor would i don't like the idea. I'm not interested in the political power. United states citizen. And the reason why. I'm still very interested in. This is because i do believe in stuff like this. Samuel adams said the liberties of our country. The freedoms of our civil constitution are worth defending at all hazards. It is our duty to defend them against all attacks. We have received them as a fair inheritance from our worthy ancestors they purchase them for us with toil and danger and expensive treasure and blood. It will bring a mark of everlasting infamy on the present generation enlightened as it is if we should suffer them to be rested from us by violence without a struggle or to be cheated out of them by the artifices of designing men So that's why. I'm very interested if this is rigged. Then we need to make sure it's unrig for the mid and unranked for the next general election in four years. That's the most important thing. And it's not baseless there's clear evidence election fraud and voter fraud. They're two different things. And this will and this will go. The president who has sworn to uphold defend the constitution of the united states as every other house of representative member every senator. They have the duty to see this. All the way through and the american people have been poorly educated and do not understand the civics of our constitutional republic so in the next few months. Actually i should read this first. Before i go to the final thing i'll have for today. This is the opening paragraph of executive order on certain sanctions in the event of foreign interference in the united states election and this was issued on september twelve. Twenty eight team i. Donald j trump president united states of america find that the ability of persons located in whole or insubstantial part outside the united states to interfere in or undermine public confidence in the united states elections including to the unauthorized accessing of election campaign infrastructure or the covert distribution of propaganda and disinformation constitutes an unusual and extraordinary threat to the national security and foreign policy of the united states. Although there has been no evidence of a foreign power altering the outcome we're vote tabulation at the united states election. Foreign powers have historically sought to exploit america's free and open political system in recent years. The proliferation of digital devices and based communications has created significant vulnerabilities and magnified the scope and intensity of the threat of foreign interference as illustrated in the two thousand seventeen intelligence community asset. I hereby declare a national emergency to deal with this threat and without going into this deeper. It's it's a long executive order. It's your duty almost to read it just to be informed but forty five days. After the conclusion of the united states election the director of national intelligence in consultation with the heads of any other appropriate executive departments shall conduct an assessment of any information indicating the foreign government or any person acting as an agent on behalf of a foreign government has acted with the intent or purpose of interfering that election and it goes on and on and on. It's almost as if he knew it was coming. That's all i'm gonna say. So how do we get this to the final outcome. The president wants we will have to go through the process. The electoral college. All of this is almost unnecessary. If you listen to the time line of representative mo brooks from alabama who explains exactly how this will go down on january six at one. Pm eastern time. The fifty states will report to congress. The president's senate will preside over. This meeting will report to congress what they contend far the electoral college results in their state. If a house member and a senator objects to this mission of electoral college votes by any state that immediately triggers house floor vote in a senate floor vote on whether to accept or reject those electoral college votes admitted by that particular state. The amount of debate on the house and senate floors limited to two hours under federal law. And if we reject those electoral college votes then they're taken out of the mix if the election process problems are so great that after subtracting the electoral college votes states. That are running a election system the system so suspect that you can't give credibility to the results that are being reported then the united states constitution mandates that congress determine who the next president and vice president of the united states will be under article article two an amendment twelve tonight states constitution the house of representatives will be the body that determines who is the united states. The vice president will be determined by the united states senate and can even be members of different parties. If that's the will of the house and the senate now in the house there's a little bit of a twist. It's not a majority of four hundred. Thirty five congressman that determines who the president united states will be rather it is a majority of the state delegations that determines who the president united states will be that being the case based on the election. We just had a couple of weeks ago. The republicans control twenty-six state delegations the democrats controlled. Twenty state delegations with the remainder being tied with the possible exception of iowa. There's an uncalled iowa. House race if that is called in favor of the gop candidate who's up last night saw about forty seven votes. Then there will be twenty. Seven state delegations that have a majority of their members being republican hints. The house would be in a position to elect a republican to the white house based on what we saw a couple of weeks ago on election day earlier in november november. The third there you go. I think trump has it. I don't know how many times are you gonna play variations of that exact same scenario. I've never. I don't think we've ever played this exact scenario. This is the first time i've ever heard it explained so clearly. I will give you the clearly part but it's been played one way or the other Two or three times actually had to dig up to does okay but then then helped me just quick review so we don't have to ever play it again so we understand because i saw the troll room. Also legalese understood that. There's already one house member who was going to reject. That's mo- that's mo brooks if one senator does the same then. There's a possibility that several of these contested states will go away and be struck Taken off at be. I mean it is a possibility. That's what he said and then it seems like it may go eventually to the states. I mean that's the ultimate i keep hearing is although this iowa thing seems like there's a little little Snake in the grass there the could thwart everything but that will create a lot of friction. A lot of strife and part of the strategy. I think not knowing anything is to a blanket as much of the alternative media universe. That's rumble that's Parlor but it's also podcasts. With as much of the actual documentation possible. I'm certainly receiving just document after document. Certainly when it pertains to china who apparently printed up five million ballots complain. They couldn't get the the metallic watermark right and shipped it with medical supplies to the us to be distributed preprinted with as the as the selection It sounds to me like this would be possible. Certainly winnings possible certainly likely the likelihood we have to deal with in the likelihood is pretty close to zero. Why do you say that. Why do you see it so close to zero. Can we at least give a fifty fifty almost the same thing again. You have all the intelligence agencies. The cia the fbi the entire mainstream media most of the new. The major news organizations the new york times washington post everybody all lined up against this president to get him kicked out in any way they can. I just don't see how you can one or two representatives like mo brooks. It's going to really put a stop to this. It's like a juggernaut in that favor of biden. And that's what's happening and i don't see any way of stopping it and you yourself used to play the clip where It was ron paul. Who said well you know the cia kind of took over running the country and they killed kennedy which is an old clip. This in the market is and where i still believe. Yes and if that's the case then they're running the country and they don't want trump in anymore and they got and they'd luckily we didn't get shot. The only thing. I will correct you on. Is that the most sophisticated intelligence agency in the world is the defense intelligence agency. It's bigger and i think they have access to more toys than the cia and the recently had special operations taken away from them so yes. The special operations was not taken away from the that special operations taken away from the military The army and the military guys. I still could do what they want. Well okay now. The budget of the dia and the if that's if that's if he and who has the best toys opposed to be a say we all right all right. Let's let's separate this in the two things. I have no argument with you about the power of the of all the intelligence agencies and the media which i don't even know why you separate those two but okay well we'll call them two separate things the mainstream media and the intelligence community but they're not. They're they're saying i have no. I no doubt. And i do not underestimate their power but i think we can agree. The constitution is now against that power. And we'll see what happens is is that the is that the the final word on this that yes seems like there's a possibility but it'll never happen because of the intelligence agencies and the media which is the same group. I don't think it's the same group because they're not necessarily everyone who works for the media's not getting paid by the by the cia. You understand what you understand the point. Yes but it's still not to say these separate groups in the public eye and separate groups with their own kind of push push here and they push push there and they've done a really good job with coded If you have a notice half vershow i just. It's the likelihood to me is zero. But we'll see. I mean it's great. I think it'd be fabulous if we could get an exercise in this because we've never seen it before that we have is. We have hundred year we have and but it has happened within the last nobody living no as witnessed this. No no okay. that's fine. So i'm i'm just saying that this this to me was a very clear path. Now i have a date which is january fifth. So it'd be the january six and now we know what to look forward to. And now i can not worry so much and have to pay attention. I i know what needs to be done and we'll see if that happens. We'll see if that happens very. I do not like the idea of sydney. Ms sydney telling people not to vote in the runoff in georgia. I really don't like that idea. Luckily there's no she's not. She's not working for the for the president. I don't even know if she's a member of the republican party. That i i'm just saying she's represents herself as working for the president even though she's not she represents a certain site in the of the argument your side and i think it's irresponsible for her to say that because i think that that election we'll be carefully monitored and probably be much more legitimate than the original and i think these people shouldn't be discouraged from voting because this is more important than anything else going on is making sure that one of those two people win a senate seat especially against the to creeps are running against name and in particular that guy the white guy. That's running against the republican is an outrageous vado overwork level creep and he needs to not win one correction. I sydney powell does not represent my side. You really need to stop that. I represent on his show. That's exactly what they were saying. It constantly those exactly what you said you said. Sydney polly said it. Once i will not say it again. But she is in my opinion representing your side. I guess i'm wrong. I didn't know what what i you cut me off. I wanted to say i on the show. I am representing her side to make sure at least we hear it is fine if you don't like her and obviously it's not a very smart thing for the for the republican party for her and lynnwood to say. Don't vote personally. I don't give a shit. I don't care if people vote in georgia or not. I would like to see this part. Just the constitutional part run through. I would like to know a little bit more. I'd like to see the report that is due from The defense intelligence forty five days after the election. That's what i'd like to see. I'm interested in that. My dog in the hunt is elections moving forward and not even for me. Because i don't care we'll be fine. We'll do the show. We could take a vow of poverty. Maybe i'm interested in our children to see how they'll do. That's all i'm not I'm not a rabid nut. People who are rabid nuts are unreal. Television like abc. Like view of mine. Is that the part that the president pardoned power is really expensive. I wouldn't say it's exhaustive like you can't pardon someone from impeachment but there's no question. I think that you can issue a blanket. Pardon for crimes that were committed. Maybe perhaps could be. That haven't even been charged. That could be charged. His power is pretty exhausted but the one thing he can't pardon for would be state crimes. He can only really federal crime. So i would imagine is still open to investigation. Florida's james weighed some of these. She she really is the attorney. General of new york agean that his part pardon power. The other thing i wanna mentioned is that what is interesting to me is once you pardon someone like a michael flynn that gives people immunity so michael. Flynn could decide to turn against trump. And so it's really not the best. But i don't know that that trump has thought that through. Now wait wait. There's something that happened right on this in this segment with you know we talked about in the last show that they have some somehow trump's going pardon his whole family himself. But i've never heard this next bit happen on the view that you have a legal. You have to wait. We have the legal now that you're supposed to do you need to read that. Yeah okay yes so. We all read it together. Has repeatedly go ahead. Sunny trump has repeatedly denied any wrongdoing saying saying investigations into his conduct in office and his business. Dealings are motivated by politics. He has also denied allegations of sexual misconduct and affairs. Saying payments. were personal matter. Not a campaign expense. Never heard them forced to do a legal disclaimer you. I've never heard that. Well i don't think anyone has but what was the point of it. What was your there. I i know what it is trump known as a little league type If he doesn't get back in office which in my opinion won't he will sue the hell out of the battles. See the we just thinking about it now. I think it pertains to the executive order about misinformation that could be. There's all kinds of elements there. That's what i'm thinking. That was funny. It's especially when they stopped in a track. I have. I think that may be a kicker in one thousand nine seconds left. I think it's very exciting. You know he can. He can pre compartment himself federally. But there are all these people waiting letitia. James is waiting with her little foot. She has pat net foot waiting for him to make a step out because he keeps saying he's run and twenty twenty four. You're not gonna run if you're in jail my friend. They want him in jail. So bad i will say everybody wants for some reason. This is really disturbing. I might add all my liberal friends. Not only one him in jail but they think they have a little laundry list. I keep promising up. Print these out of why he should be in jail. None of them jailable hillary's little violation there with their own server which was against the national security laws do you what is this. This is from the lib joe's or just you liberal Charge delib joe's okay. and what. what's the list. What why should he go to a liar. Okay do not pass. Go go directly to jail for lying right. Yeah he must have thirty thousand counts of lying. It's unbelievable that's it the lying. That's why he needs. There's a laundry list but lying is at you right there in the middle of it the top or other i'll read i'll dig up to list and read it for the next show. The next show will pull out the list of a very important person who is liberal and himself as a moderate and he's known very somewhat not somewhat very famous person and he's got this little listen he thinks trump should be in jail. And it's just like the worst delib just they should should be in jail. Wanted to live. Joe's is good. Went on about how giuliani should be in jail for lying for just should be in jail. He's a he's a he's a crook. It's just it is unbelievable. i can't even get into. I do wanna play this clip though on the damage being done by what we just play the damage of this questionable election. The fact that that i think gore's they'll stretch it out longer than this but it's not the same because it's trump is not you're right. This is shields in brooks and of course these two guys. They agree with each other. More nathan harley debate between the two of them there and lock stop agree lockstep agreement and they're both democrats and they both hate trump and and they're in their analysis stinks to high heaven exactly why they're on. Pbs and the analysis. In this case brooks makes an assertion and then contradicts the assertion with actual information and then he admits that he's befuddled by anything and everything. Let's play this. How much damage is being done by. What is going on right now. martin. I can't calculate judy and concrete terms. It's dangerous america's been the envy of the world that's been example to bring millions of people who are shores a free and open democracy where every voice is heard and to have the elected leader of that nation Charged that it it. It is not that that it's corrupt that it's criminal is damaging beyond my calculation. I just take i hope. It's reparable but We we will. It'll be a while before we find out. Just how much damage has been done. David how how deep is is the damage. That's being done well. Seventy seven percent of republicans are trump backers. Say the election was stolen by fraud. According to amman with whole a lot of those same people don't believe in manmade climate change. A lot of those people. Don't believe that masks and save your life domino become detached from reality under trump. Paranoia has become a style of resurgence. Style call about this a week ago. And i tried to theorize that this derives out of a sense of menace threat that people feel existential unsafe and so they grasp for conspiracy theories because it makes them feel powerful that they see the truth. It makes it feel agency they can expose evil cabals and i think there's some truth to that. A lot of people feel very scared economically socially racially and out of that fear paranoia. But i got out of the emails from people got one from palo alto. He said. The neurosurgeon download block. Believes all this stuff. So where's his anxiety. And i'd say i don't know the answer to that question science just yell science so the thing is he brings up this. This is the deplorables argument. Anyone who supported trump was a deplorable a bucket bucket of this floor. In this case brooks says that people feel there is the people who feel unsafe as the people see. Menace is the people who got there. That's your neighborly insecure. They're scared they're fearful. It's just the opposite. The people that i see that are scared and fearful or the brooks' in the shields and the people shaking in their boots about covid. That's not the people that support trump walking out of mask is not somebody who's fearful and scared he can't even make this analysis even remotely correct and he's like the main guy new york times columnist boom is on here. Any admits himself as a neuroscientist. Would dude guy. i'm confused. The neuroscientists believes this. What's going on with the world. Yeah you know what he should get. A little vocal fry could be editor and so back pretty good good oh brexit just as we predicted but we predicted a year ago without the rona air. Looks like that's off now. This is supposed to be so up. In finalized december twenty third. I missing this. I miss this well. So brexit really hadn't happened. Yes it happened but the the deal it was. It was in name only a bino brexit in name only. I just made this up. I gotta write that down by no so they had the mino but they had no deal the deal with the eu still had to be finalized. This was supposed to be done as it needs to be done. By december twenty third. And it's not getting done. So and this is all about the trade. Brexit trade talks critical point. Yeah it's also that border up northern ireland. And the big bone of contention can't deal with that scotland waters stuff. That's not jesse waters brother. Scott waters scholar waters oil oil and fish oil and fish. Fish big deal oily fish. Do we take a quick break. And then we can get into talking about bino brexit brexit. Mentally no i just came up with. I like it by the way. I like to toronto. We're using it by bino. Show name but i do have a quick bit of entertainment showbiz news which i think is important. Because we've declared i've declared hollywood dead. I'll say we think you agree And something very big happened. In hollywood which is an extension of china so whether this is hollywood finally drawing the new clothes around its neck or china doing it for them is to be determined. But the only person can tell you what's going on in hollywood is of course the youtuber known as overlord. Dvd my fourth. In four. the today disney is holding high level. emergency meetings. I was informed of this yesterday afternoon then later in the evening i was informed that paramount. Mgm pretty much. All the studios in hollywood are holding emergency meetings today to discuss the bombshell dropped by the hollywood reporter yesterday regarding what her brothers decision to release their entire twenty twenty one slate of films directly on. Hbo max the article that sent hollywood into a panic tailspin was titled warner brothers. Smashes box office windows. We'll send entire twenty twenty one slate to hbo max and theaters. The article reads it an unprecedented announcement. The studio will send seventeen including the matrix for the suicide squad and wounded to its streaming service for thirty one days. The same day they hit. The warner brothers is plotting a sweeping response to the ongoing pandemic which has shot at movie theaters around the country after announcing wonder woman nineteen eighty. We'll go to hbo. Max december twenty fifth studio is laid out a similar pattern for its twenty twenty one slate amid uncertainty about win moving going. We'll get back to normal. Informed the voices baron von doom cock. I liked that guy. He wears He wears a mask. He wears like Like a transformers knows comic. Yeah but this is a big deal. This is what everyone didn't want to happen. Is one of the studio said. screw it. we're putting it all online. We don't give a crap about the theaters. Take a beating and get it over with. I don't think i don't think they can recover. I think studios are going to have the merge or something. They're not going to survive disneyland more. Yeah disney by more disney's already a mess. If you've ever looked at the disney. Org chart i have a copy someplace is i. Couldn't even. i couldn't even put in the news or you can't do anything with it. It is a monster. It is a huge like the map of the world with all these different companies and all these arrows. Going every which way disney. I don't see how disney can can continue to to be this monster company that it is These guys have no. I know the movie business has got to be getting the water. Will tina and i met a couple who just moved to austin from brooklyn and the husband works at a disney subsidiary I don't wanna give them away. But he's a tease the offer. I think he's a. He's a c. Suite guy for subsidiary the disney purchased two years ago and they are super conservative and they left brooklyn because they couldn't survive people hated them which is and they'd lived there for eighteen years. They're both from the. Maybe he's from the midwest but i'm going to ask about what what the plan is because i think we're seeing next week or so for another dinner and it's left brooklyn 'cause they were outspoken and said hello and pay. They were mega hat. I mean how did they get rousted. Well they rousted themselves out. Because i think it was they. They learned through Lection of the seven hundred people that lives kind of in their district or whatever it is six hundred and ninety nine families Were all Democrats and six families Republican and. I think just all of this came down on what cuomo is doing. And what to de blasio and they don't even know if they can ever sell their house. They said we just made public and lived in their doll by it. Get contaminated with up and left. Yeah and the interesting thing. Is that the the upper echelon of this particular company is very conservative. Very right wing. So we'll see how they fare under this disney stuff anyway. It's interesting i. I will bring good place. I'd either former hollywood executives at current hollywood exact along with the former new york banker now to deal with and we'll talk about some more fun stuff in just a moment donation login. Imagine all the people who do that'd be owning people. Thank our show. Thirteen zero one. We already discussed dana brunetti. Who contributed one ninety nine ninety nine from jefferson california jefferson nut kelly jennings not in california new state jefferson ted in michalowski and boulder texas one. Thirty three thirty. Three bradley shall not in walnut of walnut mountain view. One thirty one. He's actually Just down the street from me. James powers in carnegie oklahoma or carnegie cardinal. One thirty two carnegie. Michael rohrer in powell ohio. One thirty christopher tongue johnson in new holland pennsylvania went thirty so serrano avoid went thirty from camp. Be those people. Were all celebrating. Our guest are thirteen hundred their personas one. Two three four four of them. I think bradley shell that kind of made it thirty one for the justice of it. Yeah as a nod. Well thirty one you know. Yeah doing Peter karnowski in weed california. Two three four five. I think he's you wanna send us the mug. Somebody from weeds mugs. I didn't get any mucks. Jerem get your weed mug. Oh yes i did. Oh that's an old one yes. Of course it got the weed mug. Thank you dutiful mugged. It is a great mug. Schmugge clo- khloe heart. I think do you think in marietta. California nine oh oh nine. Big perky boobs. She's got a happy thirty eighth around the sending my devastatingly handsome deal. F- fill mister. Fill mister phil cheer. Clayton may ring in twin falls. Idaho six united sixty nine dance galaxy in vernon connecticut. Sixty five carson grover in nolan's wasted an. Dan had Douchebag all out his smoking hot wife courtney is. The douchebag never misses a show but never makes a contribution and happy anniversary. Darling now donate. We love this. Partisan glitch pod and so newark kids. Okay now did like with the sex karston grover. These are sixty five dollars also celebrating thirteen hundred episode carson grover sixty five from nolansville tennessee. Donald duck heart or d heart in clarksville tennessee. These are all sixty five. Laura wilson in kirkland washington. James palmer in grand selene or sailing. Grant and saline. I'm sure texas. Go podcasting nicholas brown steady in chicago illinois. Phillip leveque chiklis needs a quick deducing as requested. Spent deep doo lavanchy. I'm guessing maliki hill new jersey jersey. Sixty five eric hoffman edmonton alberta sixty five. And that's our little list of sixty five folks. Aaron chamberlain and dayton ohio house. Got a birthday for somebody who's sixty sixty is dad. Actually yup turns nasty matthew dernie in fredericksburg virginia. We gotta douchebag call out. He's fifty four. Thirty two douchebag caller both listening for years without donating. He says brandon be gary. He appreciates the show in to let us know. Michael gates in colorado springs colorado fifty to eighty christopher grimm and new york city. Fifty one fifty desperate needs jobs karma give you that at the end following people are fifty dollar donors name and location Shortlist today we didn't It was let down after thirteen hundred dollars. Fine villareal in mercedes texas in justin clements in columbia missouri. Mary hoey sir matthew john. Zeus chicago dansk elisi in vernon connecticut Sudenly parts unknown worst underground from korea to follow we saw. That's a great note. Great note long little long. I will will read it all. We will move you. Michael cowpland in rockville ontario fifty. That is the old ceo from us. S- from corral. Wait a minute. Is that really the guy. Yeah no yeah so him with the smoking hot trophy wife. His smoking hot wife who is a genius. Now you bring man where to go john. Where do you go He's not he's not hanging in there with with the producer but now he's he's days michael michael's donated before Jeffrey cinema and south euclid. Ohio and brett sir brett. Feral who i know where he's from. I don't i think he's in oklahoma city. If i'm not mistaken all these folks want to thank them for producing show thirteen one. We wouldn't get it done without you and justin clement's As an addition as this credit this to my wife lisa for birthday she's on lists for just for today. And could you d do her. Yes i call out her brother. As a douchebag always a pleasure thank you to these producers who gave up their time their talent but here specifically their treasure to support and produce the best podcasting universe episode thirteen hundred and one one thousand three hundred one episodes and We also want to sincerely thank everyone who came in under fifty dollars typically for anonima anonymity reasons but also Something like everyone to take a look at which is our sustaining donations. Which is something that comes back every week or every month. You can kind of determine that yourself. We've got thirty three thirty. Three's eleven eleven twelve twelve Just a whole bunch and to learn more about that you can do it by going to dot org slash and then for the people who need it and it seems to be several some. Tpp jobs carbon jobs. You've got karma december sixth already. Here's the birthday list for no agenda nation. We heard david david lukas. Oto saying happy birthday damian. Sabella she is turning twelve and Adam and john also congratulates on that khloe sharp says happy birthday to a devastatingly. Handsome husband philly turns thirty eight years. A dill justin clemens savvy with his wife. Lisa celebrating today erin chamberlain's as happy birthday. Dad doug he turns sixty tomorrow sir matt celebrating tomorrow barrett addict dirty bangs. Happy birthday with baird alexander banks who turned five tomorrow. Peter says birth nail williams. Thirty five And finally sir matt wiffen says happy birthday to his daughter victoria and she'll be celebrating on december ten. Happy birthday to all of us from the best podcast universe. now we have No title changes but we have one we have to dame's in tonight's look at this list because they've got a note here. Is there something look let me face Do i have named sierra. Yes god damn sear. Good jenny got mike two. Mike's mike got all my kick mike shit. Yeah that's all i wanted to get. Could you give me your sword. 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So anthony zinni here bear in the philippines defending people from inner dimensional space teams from each has snake here with the human resource vessel. Justin road here. My mom and brought to immediate. Say hi hi. The surdo saver casey zero. Dvd ham. Enjoying my i know kim to meet up to dull. Say ryan could be a dame soon if i has been loves me. My husband loves me. I love the human resource vessel if you notice. A lot of a lot of the the dame's of nation referred to themselves as a human resource carrier vessel incubator a day sometime back in l. picked up on trend. I kind of like it Bothell coming with your report. This is surge area of south theory and his wife. Stephanie and two of our human resources hosting the bothell breathe easy speakeasy. It's like a party. This is servants night of northwest. I meet up and the password is or named ben. Here i meet up is pretty awesome in the morning. This is stephen and our whole family. Matheny i'm fifteen ashram relevant solution. 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Please john everyone and so concludes Our meet up reports. It's beautiful to see everyone hanging out having a good time and coming up. We haven't got a number of this coming saturday december twelfth. The houston raging superspreader luncheon at rodeo. Go we've got the eastern north carolina hot pockets christmas bash at two o'clock and that is david fox's organizing that that's a good one Go to no agenda. Protests dot com meet ups dot com to learn more also columbus ohio. The small amid meet up at six o'clock bruno's pizza restaurant saturday. The twelfth again new orleans area meet up three o'clock at the river shack tavern jefferson louisiana and finally the pittsburgh christmas party again on december twelfth. This coming saturday bloomer. Organizing for you and go to no agenda meet ups dot com to find out exactly. Where if there's not one near you. It's very simple. Why don't you make one for yourself. Started no agenda meet. Ups dot com. They are like a party. Me say comes like a yo-yo we always get lucky today and get the show in under three hours doubtful. A i haven't asked adam. Oh my georgia are being Rousted from bangladesh is the group that was kicked out of south east asia and out of mar. That's the guys me. And mario guys and so they're being rousted because No i know these people have nothing but bad law. They're muslims get them out not what happened. Being moved to an island talk a lot of bangladesh's muslim and and here's a little piece of this report from democracy now. Ironically that's a clue by the way to to to what i want to answer is what's w- what stands out as very odd in this report in bangladesh. Human rights advocates are condemning the relocation of thousands of rwandan refugees to an isolated island hours away from the mainland police thursday escorted refugees who were put on buses for the long trek from cox's bazar port. Town where they'll be put on boats on route to boston charles island which is prone to flooding frequent cyclones and only emerged from the ocean two decades ago the islands never been inhabited to aid. Workers told reuters. Refugees were pressured into move by government officials who threaten them or offer them. Cash and exchange human rights watch called the refugees relocation quote nothing short of a dangerous mass detention of people in violation of international human rights obligations Okay i think. I know this one don't often get these right but this one stuck out like a sore thumb. What is wrong with this report. Ready yeah the island that appeared two decades ago. What happened to global warming wouldn't islands in charge aland which is a leading frequent cyclones and only emerged from the ocean two decades ago. This is from male. Global warmest saul an island unbelievable emerging in the last twenty years. When they should be thinking. This is so off message. I mean th this is so off message let's just do have a few Global warming Great reset clips to go through just before we get out. I know the affiliates getting angry but Dr tedros is doing the connecting for all of us. He of course is the shield from the world health organization and we must not go back to the same exploitative patterns of production and consumption this same disregard for the planet that sustains all the same cycle of panic and neglect and the same divisive politics that fueled despondent. The pandemic has brought us to a fork in the road in the road behind is allies. The of business as usual. Okay the pass that led us to this crisis. The you know the the mason jar that you're digging peanut butter out of or something really reads on the mike so just a little bit away for. I don't even touch that thing again for a year. I don't want to you. I mean the case you have something to say before as lies and new apartment on which nations do not see themselves as rival in a zero sum game but as fellows travelers rations hopes and dreams. We had fellow travelers. We say must be rations. Hopes and dreams have vision. That affirms our common history and our common future that recognize reach for our diversity and that we are more than the sum of our parts out diversities out of beauty and even out strength seventy five years after its best the united nations remains more relevant than ever and most -sential than ever. Well what he's saying is. Listen to these guys. I have the un secretary given delivering new. And i want you to do that in wanting to finish with that After we go through the new zealand prime minister because she takes the cake. She is the number one rule follower of the united nations world health organization build back better great reset producers in new zealand. I would strongly encourage you to get out while you can. This woman is out of control. Mr speaker i think the most important point to make this declaration based on science united nations and take into a panel on climate change the preeminent scientific body in the world on this meta has determined that in order to avoid a situation a disastrous one point five degrees celsius rising temperatures and beyond arise that would see increased risk to human health and livelihood. Civil and reese mess drought. Mr loss of lands and homes increased fis increase tropical storms human displacement and globally exhausted reintroduces with urgency mr speaker to ensure global emissions. Full two zero by twenty fifty consigning our region to a devastating reality that if we are responsible members of the pacific we cannot and will not accept mr speaker. This chloride is an acknowledgement of the next generation and acknowledgement of the bid. And they will carry if we do not get this right and if we do not take action now as a government. We are also announcing the cabin neutral government program that requires government organizations to be cabin neutral by twenty twenty five. Get our own house in order. How can we stand and tyco leadership position amongst the private. Seek to unless we take the same action that we expect of the requi- government agencies tunisia and reduce their emissions and i'm able to achieve pavin neutrality. They must offset. If you can't do it. You gotta pay. That's what the offset means this. I had so much hope for people. In new zealand is just a bunch of sheep farmers hoodwinked hoodwinked car up. Twenty twenty five all right. I do have one for the next show teaser. Okay jason kenney. The he's great. The prime is the premier of alberta lays it into the great reset. You don't wanna you don't wanna play these now on. Today's kill us unless israel who tells it like it is. Is this what i saw. This is almost like a podcast. He's doing some. Somebody is a call in show and he's answering questions. Yeah past the premier. I think this is the way to go just to call in. Show any lead in for one. No but it's about the great reset conspiracy when candidates is some sort of conspiracy and he's debunking that and saying that we're not doing any of this crap. Alright ricky Butterworth or might be cindy butterworth says where do you stand on the great reset. The liberals are planning on introducing. Well let me just say that first of all. What is this great reset at the pierre. Polly of the federal conservative finance critic recently raised concerns about this and then he was attacked by some in the media and by the liberals for supposedly circulating conspiracy theories well the great reset is actually the name of a book by a very prominent advocate of it. It's his name is close. Fob he sent sent went to every probably every government leader around the world and close fobs. The thesis in his book is that we should governments and societies the world should quote seize the opportunity of the public health and economic crisis to reimagine the world and radically change policies. Now in what ways. I would describe it as a grab bag of. Left-wing ideas for less freedom and more government for more government intervention for policies. That would I think create. Massive poverty is particularly energy policy Policies that he is advocating so close. Fob by the way is the president and founder of the world economic forum also known as davos summit. I call it the biggest gathering of global hypocr in history. It's the It's a little ski village in switzerland. And every i think february A couple of thousand super rich people A lot of billionaires millionaires global. Ceos and politicians fly into davos men with hundreds of private airplanes. They go into switzerland and they spend a week basically lecturing Especially working women and men about how. They should reduce their carbon footprint. It hypocrisy in that crowd is so thick. You can't even cut it with a knife. How much power does this guy have. As the premier is basically a governor governor governor ski gavin newsom level. Well pretty powerful yeah. He's no slouch french. Laundry at the clash laundry as they call it. I don't know what to do. L. berta they're probably be a couple of cool places edmonton might not sure. I don't think they're shutdown. Is one of those guys you know. He's not he's not shut down all right good good he's better than new zealand. No comparison this play. Part to hypocrisy in that crowd is is so thick. You can't even cut it with a knife and so i'm not going to be taken any policy direction from close Or his his ilk. But and what. I find offensive. Look the so-called great reset is not a conspiracy theory it is a actual set of of concrete. Proposals being advocated by some very influential people including apparently by prime minister trudeau who clearly alluded to it referred to quoted from the schwab theory in a speech. He gave to the united nations a couple of months ago. So it's not a conspiracy theory to talk about that. Those are the folks advocating it. And i think it's perfectly legitimate for democratically elected leaders for me to say heck. No we're not going to exploit or take the a take advantage of a crisis to advance a political agenda for actually all in this together like we keep saying then how about we focus on the crisis on protecting lives and livelihoods helping people get through this and how about after that. Instead of exploiting the crisis to impose on democratic society a whole bunch of social failed socialist policy ideas. how about instead we get refocused on generating economic growth on on recreating some of the trillions of dollars of wealth that we'll have been destroyed restarting some of the hundreds of thousands of businesses. That will have gone under of obsessively focusing on getting the millions. Tens of millions around the world back to work. Those who have suffered most in the covid era have been the poorest around the world and so the notion that we would then drive them further into energy poverty through close fobs policy agenda. Is i just think frankly find it. Offensive very curious how this guy a got elected and be still alive well. He's in the rich province k. And its oil-rich Bird is for all practical purposes. The texas yes out of cannon navy. Yes okay well. Of course then he represents the constituency very well but he might as well start. Learn how to sing better. Learn how to sing it for your free. That's right everybody bill back better for someone else. It's what they really want you to do. I think that's it. I'm done i'm done. You're done we're all done when there is some cool stuff to talk about on thursday. Though there's new ot g things i'd like to discuss ot going ot also Needs to look at Some of the incoming biden cabinet administration as the mainstream has Is shuffling us right through there. Just have to states happenings. What it is to know. Gome bash should have a betting pool on. Who's going to be picked for what okay because basically you take a look. Everyone is in obama's administration. Figure out where they're going to put them coming up next. The no agenda stream dot com. We've got the grumpy old benz. And i have a lot of submissions but only two and to show makes us for this. Show the other ones to thursday. We have tom stark. Where and noah's Archetype weeks i believe is high pronouncing coming to you from the opportunities thirty three here. In the capital of drones star state austin texas reached number six and all the government maps. Remember us at the vork dot org slash a until thursday in the morning. Everybody madame curry And from and familiar silicon valley where we're supposedly shutdown but people seem to be driving all over the place. I'm john richard on thursday right here on no agenda remember us dot org slash na until then audio smo- fo's. I'm counting. Sinti ballots biden needs to win the vote reassume. And there's no watchers in this room. Four morale scan. This pie. But i am tempted by dan until to resign. Serve the lex. Shah joe joe suitcase. Fill the rockets printed badly scan. No on well. no. Because i'm will. It might be constitutional crisis this or some changing of some but he threw away some about the overseas lawsuit. Aw land so what i've committed voter fra hits. Peiding quiet majority trump had a say. I love you. Joe tonight tonight to your word you pursued does cucumbers president trump as we said and then ohio. We will still win. This election was rigged very simply. You will decide your children slow whether they were trying to convince us that we found a of balance. It'd be nice. And i felt so good but i met this three of them. Your watch hit by a piece of shane. Likes say. I'm running win. I don't run the elections. Run the people who suitcases putting them under a table with a black robe around moepo borax dot org slash. God you sound crazy.

the new york times rick santelli gavin newsom Garcetti cnbc Adam curry Sorkin department of health and socia fifteen percent jesse devora jerry san mateo mayor garcetti silicon valley ireland california sorkin yellen yellen yellen myard david sanger
The CapitalIsnt Of Coronavirus

Capitalisn't

43:22 min | 1 year ago

The CapitalIsnt Of Coronavirus

"The number of cases and the number of deaths from corona virus mounts the economic impact is also starting to become clear rippling through the global stock markets as nerves over the corona virus Sanchez. Tumbling Italian Prime Minister has announced restrictions on movement across the entire country in the most drastic response yet to the spread of Corona virus. Luigi this is a pretty somber episode. So let's start by talking about northern Italy where you're from like what's going on there and what's it like to have family members there is Tom. Indeed I ever ninety two years old mother that is now isolated in part of That is one of the epicenter of the disease. Actually is more town outside of powder as one of the epicenters and over the weekend. The government introduced schools. That in principle will stop people from moving from the northern part of Italy where my mother and my siblings to the rest of the country now unfolding doesn't look like this who follow very much but they need for. These rules was created by the fact that the appeal to me was spreading at increases of twenty five percent today pretty soon they will not be enough intensive care units to receive The people have the most useful disease. And that's pretty dramatic. When do you think you're going to be able to see them again? I don't know I think that this this is pat of The big unknown that we would like to try to understand and have the listener understand this episode from Georgetown University. This is Kate Waldoch and from the news shows Chicago. This is Louisan Gallus. You're listening to capitalism a podcast about what's working capitalism today and most importantly what isn't I D- What is first order is. What is the level of public policy decisions we have to make now and this is a medical component? Were NOT EXPERT. About but there is a public policy components. That is important and you can look at it from an economic of you. Can Look for philosophic point of view you can look at it from a political point of view even from the economic point of view. Which is the one often used to say? We shouldn't act. I think when you do the calculation ride when you do a sous cost benefit analysis you say you want anyone intervene to early and very steadily and the example of China is that these interventions actually succeed succeed not only slowing down the disease but even in stopping it a wherever they need to be very strict at the level that we in western democracy a nod very comfortable and used to but if you take this as a war in time of war you do extreme measures and we are in a war to slow down this disease. So I'm hanging out in New York right now for better for worse and I quickly had to go out to lunch for a work meeting. And it was pretty appalling. The sort of stuff that I saw I ended up taking the subway because Uber's are super expensive and they're still street performers dancing on the subway from car to car. I saw two of them. I saw homeless people sifting through trash. I saw a woman pick up a cigarette off of the street that was only half smoked and smoke the rest of it and when I went into a store. Run an errand that I desperately needed to run the guy. I spoke to their said that most people aren't worried because it's just the same as the flu and if we can survive the flu then why do we need to panic about. This and panic is bad for the economy and it's panicking makes you a bad citizen because you're going to sell. You're going to be part of a stock market. Selloff will end hurting small businesses. And this is something that I think. Rick Santelli has propagated. Think about how the world would be if you try to quarantine everybody because of the generic type flu now. I'm not saying this is the generic type flu. But maybe we'd be better off. We gave it to everybody and then a month would be over because the mortality rate of. This probably isn't gonNA be any different if we did it that way. Then the long term picture but the differences were wreaking havoc on global and domestic economies to be fair weeks and tallies apologized for the statement. But this is statement is is wrong in many dimension. The first one is that the biggest problem is the availability of intensive care unit at hospital and if the epitome spreads too fast than we have not enough I see units to take care of. Everybody and the rate or -ality can go up dramatically. One piece of news I just saw coming from. Italy is if you compare the mortality rate in Lombardia. Which is the region around Milan with a death rate in the rest of the country? Nobody A- As a scary six point four percent thus the west of the country's two point eight now somebody probably as the best hospitals in the country so is not due to lack of quite ospital is probably due to lack of availability of icy. Eunice when you have too many people who need it and not enough icy units. That's a disaster so even if you were just a bean counter and you look not a human life but at the economic value of life stopping the economy was going down. Economy is a price that we should be willing to pay and I did a Beckham the envelope calculation if we can manage the pandemic with only a one percent of death among infected we're GONNA have only four hundred thousand death in the United States but if we reach the level of who on where there was another capacity of hospitals than the death rate could be three percent and that means eight thousand people more who die. We economists the have this terrible habit of putting a value to life and the statistical value of life is considered roughly nine million so that would say a seven point two trillion dollar cost. That's represent one third of the US GDP. So even if you were a purely cynical guy you will understand that slowing down. This epidemic is worth paying. A conomic cost it cost on the the economy. So let's now try to estimate the potential economic cost of the carnivals virus. Now this is a a difficult exercise because the forecast about the spreading of Disease Ave and certain what do you think is GonNa Happen to the US economy? And what do you think is going to happen to the stock market? I'm going to base my numbers off of some historical data some objections both of these are a little dated but in some sense the best place to get our numbers from historical incidences so back about fifteen years ago after SARS the World Bank came up with some projections and calculations based on mild moderate and severe flu outbreaks. And I understand that. This isn't the flu. But in terms of mortality and contagion it has some similarities so based on the mild estimate for high income countries. There's a loss of GDP of about point seven percent and that's comparable to the Hong Kong situation in nineteen sixty eight based on the moderate estimate. There's lots of GDP of two percent for high income countries and that's based on the Asian flu of Nineteen fifty seven and then based on the severe scenario. It's more like five percent for high income countries and that's based on the Spanish flu projections so I would say five percent of point. Five percent five percent loss of GDP if we had if we had a Spanish flu worldwide. I mean remember like the Spanish flu killed. Potentially one hundred billion people so fingers crossed. But I don't think that it's going to reach that proportion so my guess would be that somewhere somewhere between the Hong Kong Asian Flus. And so you know on the order of one and a half percent lawson she. What do you think I seen similar numbers first of all if you're talking about one percent or one and a half percent of the worst DP we're talking about a trillion dollars so we're talking about money. No it's not trivial but there is the direct effect of people walking less. There is the panic effect that I read in newspapers that everybody can die my willingness to buy a new house to buy a fridge rato to buy something like that will go down so there would be clearly an effect on the demand side and then he's a quite important in fact on supply side. I'm not so sure that was estimated in this earlier model because I think this effect is relatively recent so we have created a much more international supply chain so a lot of products in the United States like a lot of products in Italy produce with parts from China in fact the spread of the disease in Italy is very much connected with this supply chain. And if you look at map of Italy. The map of Export and import from China. And the map of the disease is one to one insist places that deal a lot with. China. This is the place like in the south. That don't have a lot of manufacturers. Don't deal with China. They have no case of the disease. So the we's a tweeting poured on effect. We know that China is low down quite a bit people. Talk about two percent lesson in growth at least in the in the first semester any particular. The there's the area around Wuhan is gone almost to a halt so anything to cancel. There is unlikely to be deliver and we also know that is kind of a thirty days delay because that's the time of the supplies so those shortage are starting to hate the United States now they will create Is Low down in in offering because factories will stop using because they don't have pots. I'm a lot less. Bearish on the supply side. I think that there's a sense that all of our goods get manufactured in China. First of all. I think that the outbreak was for the most part concentrated in Wuhan which focuses on automobiles. Mostly I mean. They have a steel industry as well but their major export at least from. Wuhan is automobiles and the auto manufacturers with manufacturing companies that are like huge Han our Honda and GM. But I think that not. Every single auto company has a major factory there and for the rest of mainland China. I I have the sense that if we believe in numbers they are doing a pretty good job of keeping the current affairs under control and other auto manufacturing companies have like restarted their operations. And so I think that we shouldn't be as concerned about China as a lot of people in the United States are. I think that there is a little bit of panic that is taking hold now but in terms of the disruption in the global supply chain. I think that China is actually like on the upswing and there was a brief period of like no activity in Wuhan. But I think they're ready to get started again. So where do you see the major losses in the United States? I think it's going to be more on the aggregate demand side. I think people aren't traveling a particularly like areas of the country that are dependent on tourism. I think going to be hurt and I also think that people aren't going out as much so the retail and services sectors I think we'll be hit more than expected. What about you? Maybe I extrapolate for my reaction but clearly. Also fear factor. I remember in September. Two Thousand and eight people were terrified. Just seeing the stock market plummeting and even if they did not have a lot of money. Invest in the stock market. Even if they're not necessarily much pours out of that they became more cautious. I fear that people will become more cautious in situations like this and the increasing uncertainty is huge. We cannot go out what the right data are and neither can people invest and so I think that in this situation if you are in doubt you're going to postpone an investment. Not Go ahead. I think that that's fair but I think that I think that's fair but I think that people also have relatively short term memories when it comes to this sort of thing if we look at the effect of SARS in Hong Kong for example there was the stock market drop in March and April. Two thousand three which was during the brunt of it and markets fell by like two percents Another Asian indices were actually rising and they also experienced a sixty three percent decline in tourism a fifteen percent decline in retail sales but a few months later when the virus abated markets rebounded pretty quickly in fact the stock market made up of those gains. So I do think it's possible for markets and economies to recover relatively quickly after the sort of concern But it's a big open question as to whether that will happen here on one hand. The Corona virus seems or at least there seems to be weak. Evidence based on where outbreaks have occurred that the corona virus doesn't like warm weather so we have an unusually warm spring than it might be the case that the spread stops and markets bounce back but on the other end if the virus becomes a pandemic. And this really does her demand. It could set off a recession in which case we're in for difficult time so so you're coughing a lot. Kate for Immaculee glad that were taping at a distance. I will be a little bit scared to be the same with you. I wish I could get tested. I've been sick for the past couple of weeks and fortunately I don't think it's corona virus because I had a pretty bad flu before the current virus came to the US. But even if I did WANNA get tested I wouldn't be able to because they don't meet the criteria for testing because there just aren't enough kiss right now and so. They're being very careful who they administer them too so yes. I am glad that they're going to start making more kits and they're going to start ramping out testing but at least for the past couple of weeks. I wanted to get tested. And couldn't he's an interesting tension from an economic and a medical point of view. The challenges operating situational major uncertainties. The cost are very different. Depending on from what perspective you look at so if you are a doctor or somebody in charge of public health you're trying to minimize the chance of a pandemic and so you might take actions that Too aggressive in fact. If you're taking the right actions they were looked too aggressive expulsed because every preventive measure is a measure that seems to be unjustified expulsion because the pandemic did not take place and the only situation in which you get. Vindicated is if you say to do something you don't do it and the pandemic comes out and then you say oh. I wish were down that but but by the time it's too late so whoever's in charge of the public health tends to be in my view too pessimistic and too is covers on the other hand. If you are in charge of the economy you WanNa go in the opposite direction because every form of uncertainty in every form of intervention as you age economic costs in the sense if you block a CD if you block a region the economic cost of a lodge. And I've heard people say after all most of the people who die also they don't say so. What but almost and this brings back a important tension between economic argument and social political argument. And I I'm an economist. But I think that here. You should look at the political and social aspect. I and so people's lives should go first. And if they failed to do so I think that that will create even more of a negative response to the economists attitude that tend to be too cavalier. And it'd be too cynical. I think that a couple months ago when the corona virus hadn't showed up in the United States yet and when we saw it exploding in China and we saw like pictures and videos of doctors and face masks and like bunny suits walking around and and all everything that was closed down and we were starting to feel the potential effective like steel prices. Going up and car prices going up for certain brands. We were worried about the economic effects and we were critical of the extreme measures. That China was taking now that the numbers are dropping China. And there's laments amount of uncertainty about how high the numbers are here in the United States but the census it's certainly growing. I think the tables have turned and I think that we're getting the sense that they've been through this before. The Chinese are more acutely aware of the risks of a global pandemic than we are and the they were taking pretty good steps and steps that have been effective and now. It's just a matter here as to whether we get luckier. But but if this were a few months ago that the virus had spread to the United States. I think that the economists who have been critical of Chinese measures certainly in the wrong. I agree with you. Kate and most importantly if you look historically the way this stuff was handle was by restricting mobility quarantining people. We'd use social interaction and that is biolog- the best way to fix the problem and in today's economy is actually not that difficult to do many things at a distance and I want to think about these not only as a crisis but also as an opportunity opportunity to actually change the way we operate live and I think that for example people will That many meetings can be done at a distance that traveling is not necessarily this could have gigantic benefits from a co two perspective and global warming and also changed our habit of telecommuting and smart walking and so on so forth. I think that it's important to embrace the opportunity you now. Just look at the downside. I couldn't agree more with that. A lot of conferences. I don't know if this is the case for you Luigi but I'm starting to hear every day that more and more conferences are being canceled or postponed and people are questioning whether the conference could be held. Virtually and if anything comes out of this and if it ends up not being too serious in the United States I think that that would actually be like a huge silver lining that we would start to be pushed towards holding large meetings virtually like listening to capitol. Isn't there's a good chance? You're interested in pioneering research and groundbreaking discoveries big brains. Another podcast from the University of Chicago brings the work and ideas of the world's smartest thinkers straight ear buds with guests. Like David axelrod. If you know people if you understand something about them. It's harder to dehumanize him. It's harder to hate them even if you disagree with him. Richard those two words systematic bias. That was the big Aha if there's systematic biases then you can make better predictions and in doing we now in the past Couple decades have started thinking about schools. Not as things that we have rights to Barack either something that we are to consume and choose you hear the stories behind the research reshaping our world. Listen and subscribe to big brains wherever you get your podcasts. So that are important. Political and economic decisions that need to be taken we see how the fragility of markets in a situation Situational panic so one of the reaction that people add was to buy mask and hold masked one of the central business. Storylines of Corona virus crisis has been the shortage of so-called. N Ninety five respirator face masks. If you people are holding a lot this creates A shortage especially in aspe-. Where are the much needed? They shortage of respirator. Facemasks has sparked a global race to fulfil those orders. You know some economic professors nearly said. Oh this is. Just efficient is the market allocating resources to the highest bidder. Now I mean that's ridiculous luck. I think in a situation like this. If there's a possibility of a pandemic than efficient allocation of resources for everyone to have a face mask for everyone to use the facemask particularly when they're traveling and so there have been reports of certain governments nationalizing the facemask enhance sanitizer industry for the purposes of preventing an outbreak. And I think that that's absolutely the right response. So in this case I think that the socialist responses the right one so kate. You got this right actually. Andrew Cuomo started to produce this effect and so the government at least the state government is entering into the business of supplying disinfectants. Absolutely and part of what concerns me about this is that they're apparently using prison labor in order to make this hand sanitizer and so it. It's a little bit sad that we have to turn those measures because hopefully we should be able to incentivize people by just paying them a salary to work in a hand sanitizer factory but that aside. I am glad that it's something that some states are starting to do know is interesting because this is a situation in which every reasonable economist will agree. Market outcomes are not if he shouldn't do not believe something that is economically or politically appealing. And where we need to have some form of intervention. I'm not so sure that you want to nationalize the provider of mask but you need to somehow regulate or or have some form of vision so that you ensure that everybody who need the mask as Mosk and by the way you reaction is is not a typical installation like this people find that. The government intervention is superior to the market outcome. And that's when the idea of socialist or even fascist become particularly appealing is not an accident that fascism and communist spread after World War One and after the Spanish flu when you saw markets were not allocating resources effectively and government intervene and they became popular because they intervene. One of the aspects that people have not talked they match about this. If it continues this way the United States the will be a father movement the left of the electorate as you said there would be demand for some form of socialism maybe Democratic Socialists but socialists. Also when I compare the responses at the outcome outcomes here in the United States and in Italy the fact they need to have universal health care make makes things much much easier and protect people much much better testing of course as a huge analogy. If you have the disease but you don't test you can contaminate me and so I am happy to pay at least impact for your test. That's an important aspect universal health. Care so I at this point in the campaign I think that is unlikely. That Bernie will become the nominee but all padding of the disease will certainly help the Bernie side of the world versus the more moderate or capitalistic side of the political spectrum. I'm not saying this to support burning but I think that if people understood how successful the autocratic communist response in China has been to the corona virus outbreak. I think that there would be more support for similar measures here in the United States and by the way. I think it's worth mentioning that we were supposed to have a plan in place for this sort of thing in response to SARS a number of senators including Harry Reid Ted Kennedy Barack Obama they propose the pandemic preparedness response. Act a different version of this was eventually signed into law in two thousand six the pandemic and all Hazards Preparedness Act and that eventually evolved into something called Papaya that trump signed into law in June of two thousand nineteen. So we're supposed to have a plan in place for these things but if these measures are in place it's a total mystery to me as to why the response has been so slow Both in terms of getting people tested and making sure that people are informed about the rate safety measures in order to limit the spread of current events. So what are they successful examples all trying to curtail the spread of this epidemic? One example is of course. Wuhan Wuhan was the center the epicenter where everything started. They went on a very vase. Use Lockdown people basically block into their houses for several weeks and now the cases are finally slowing down the other examples are Taiwan and Singapore where they intervened super early. They contain they use technology to actually trace people and make sure they don't move when they're supposed not to move but I think that the most important thing is you need to have a buyout of the population on this measures immediately. Last weekend they passed this law that forces people not to move outside of the red zones but number one that enough force them to stay home and number two they find it difficult to enforce it because if these no desire to comply is very hard for any police to enforce it while the US government does not seem to be on vague match. On top of things I think that the business and institutions like universities seems to be ahead of Government. Many businesses are recommending people to work from home. Many universities are moving to own line teaching only so innocence ahead of the curve. And I think this is good because we don't WANNA in any way spread panic but what we're trying to do is reduce the spread of the disease and we're not doing a society for us. We're doing it for the weakest part of society that is going to be the biggest cost of this. Yeah just anecdote. Only there are concerns about cases at Georgetown University. Now and so I'm on spring break at the moment but I'm concerned about going back to DC. And I'm kind of expecting that I'll have to teach remotely for the rest of the semester and also I have a friend who works for a Hedge Fund and that Hedge Fund has a remote sort of offsite bunker just to make sure that their operations continue and they're allocating a certain percentage of their workforce to this remote bunker just to make sure that they can keep on trading even in the worst case scenario. I'm sure sure that as the economy is collapsing hedge funds are still standing and doing their work. I know that that's as a matter of relief. Yeah what I am. Concerned is not only how autocratic another the crowd is the government but also how capture the government is by special interest. If you want to have a prompt and successful response to this virus you need to interfere with commerce. You need to put people's life before economic costs and of course there are a lot of pressure to do otherwise and I think in the case of the current administration. It's not just special interests that WANNA keep business running and people shopping but it's trump himself. Who's self interested right because of where we are in the political cycle? I think he's worried. That the corona virus if it's taken too seriously can set off a recession or at least bear market. And he's trying to do everything that he can to avoid that so that he can take responsibility for the relatively successful expansion we've had ever since he's taken office but If a one and he seems to dismiss the magnitude of the problem on the other end seems to be proactive in pushing the fat TV. A surprise emergency move Federal Reserve announcing that it is cutting interest rates the Fed hoping to counter the corona virus effect on the economy slashing rates half-point to boost markets. The Fed has got interest rate by fifty basis points. And that's a pretty aggressive move because generally the fad intervenes. Only with twenty five basis points. It's the first time the Fed has taken his kind of step since the two thousand financial crash finally finally bore do a little bit. More fed rate is too high. It's very simple. It's too high for our listeners. The pope was of using into. Suedes is to May borrow money. Cheaper sold that you WANNA buy a house if you WANNA take an investment. You find it more convenient to do it now. Rather than before and that should prompt a higher demand for do ables and consumer durables and investments compensating the potential reduction demand due to the fact. That people are afraid and postpone. Do you think that President Trump pressure convinced chairman? Power to act. I mean yes. I don't know what's going on in J. Powell's head but it's clear that trump has wanted this interest rate cut for a long time even before the word. Krona virus had been uttered. It's not clear that this had anything to do. The Corona virus if you really cared about preventing the current a virus he would be talking and spending more time with the CDC rather than at the Fed. But I think that this was just a convenient excuse that pushed Powell over the edge e cutting interest rates is not going to do it. What do you think should be the move kate? Honest my opinion on this has changed quite a bit over the course of the past two weeks a couple of weeks ago when we sort of toyed with the idea of doing an episode on current virus there were still maybe a hundred cases in the United States It seemed like the spread was under control and now it seems like quite the opposite and I think in particular the major development of the past week and a half has been how much the markets have been rattled by corona virus. It's pretty scary. That the Stock Market Sell Offs Have Been Tripping Circuit Breakers and we've had to pause trading because it's dropping so precipitously and in terms of fiscal stimulus. I think particularly this corona virus is going to hurt a lot of small and medium-sized businesses. They're not GONNA be able to maintain their leases. They're not GONNA be able to pay back any business that they have. And I think that that will trickle up to medium to large size businesses. I think that this will affect loan markets. I think it's already affecting lone markets and that's when things get really scary. I mean to be honest. You know if the stock market dropping for a little while has an impact on people's retirement people savings but when credit markets get frozen. That's when things get really scary and it's looking like credit. Markets are starting to freeze up even really safe. Collateralized loan obligations for example which we consider relatively immune to like macroeconomic changes. Those are they're not being. Issued SPREADS. Reliable are blowing up which is a sign that loan market participants are really worried and so it seems like the markets are fragile. Were very highly levered. This is spreading to beyond just the stock market and we should be concerned in that calls for a fiscal stimulus. What do you think Luigi? I think we have to be careful when we say fiscal stimulus. I think that definitely we need to intervene but the idea that most people have on the fiscal stimulus is a massive government expenditure. It beat like Obama did in two thousand and nine and maybe eventually we need that but now we need a much more targeted intervention. I think that to begin with we need to guarantee woke us who stay home pay. A lot of people are not protected especially in the United States. You don't have a lot of medical leave and you start losing your salad. Pretty quickly and many people cannot walk from home and so many of us are lucky because they can do so many cannot and if you lose your salary that's pretty dramatic and number one. You're going to go keep going dworkin that that will spread the disease so I think that intervening early to try to stop. That is super important as it is important to make sure that small and medium firms don't get get choked by the inevitable disruptions that take place so if. I'm counting on my next month. Revenue to pay my bills and the next month driving. You are not coming because travel is disrupted because supply chain is disrupted because people stay home. I think that that is potentially very devastating for small firms. And you need to intervene yesterday. You don't have to stimulate demand future so I will focus my attention on this because this is also a way to tranquilize people and make sure that they're not to So the frightened by what is going on and then once the emergency thing is done then maybe the is the time to think about do. We need to stimulate the economy with some particular fiscal stimulus. Or one of my favorite thing if you are afraid that people are not purchasing because of uncertainty you can actually have a temporary elimination of sales tax. If people know that this is temporary they will increase the poachers now in order to take advantage. And so that in general as a pretty good effect in stimulate the economy immediately. Because we ask. Is that by the time? This is approved by the time is implemented by the time has done. It won't come out a year and a half from now. We're hopefully the economy's back to normal so I think we need to intervene but we need to be targeted intervention. That deploys fast. Yeah tippy clear when it comes to spending dollars today. I think that the majority of those dollars should be spent on health and preventative spending like you said hospitals as well as making sure that people have the right sort of equipment medical equipment. They need to stay healthy. But it's also worth noting that the thirty year treasury yield is less than one percent and that means that the. Us Government can borrow on a thirty year basis for a very low interest rate. If that's a possibility for the government to borrow that money to pay back a long time from now to spend it now in order to make sure that we don't enter into a two thousand eight like recession. I think that that's something that the government should be seriously considering your but the problem is that the government is not able to spend it now. Maybe he's able to waste it now but not suspended now. I will love is infrastructure plan and maybe the idea as we borrow now as this low rate and then we implemented infrastructure plan next year in a predisposes way but I think that definitely any intervention is needed. The last thing I'll say is that a lot of people are speculating about whether this is a good time to buy the stock market or start buying stocks because prices have gone down by a lot in the past couple of days. First of all this is extremely. Ill advised and irresponsible wanted understand that if you do decide to pursue that sort of investment strategy you're essentially just gambling on what's going to happen with the current heiress and unless you're epidemiologist but even if you are an epidemiologist it's impossible for anyone to predict how this is going to continue to affect markets going forward if you're twenty four years old and you have a lot of money saved and you don't care if you lose half of it than fine go ahead and take that risk but if you're older especially if you're retired or close to retirement than you should absolutely not even think about doing this. This is a strategy called catching the falling knife for good reason. It's not a strategy that anyone ever encourages at least anyone with any sound financial experience And then finally think about. When bear stearns collapsed that was in March of two thousand eight Was STILL SIX MONTHS BEFORE. Lehman brothers collapsed. There is a sell off around the time of bear. But that doesn't mean that it was a good time to invest in markets Look I hope that markets don't get a lot worse From where they are today but who knows. There's a possibility that this can continue Going on for quite a long time so Lucci. It's pretty obvious that the current of Iris itself as a capital isn't but in terms of where we are today in the US and our responses to it do you think it's capitalism capitalism. I think is very much capital. Isn't day with Paulson. The United States as not being in my view effective and prompt and I think has been quite contaminated and I use a world contaminated in the right way contaminated by special interests so I would like to see a government debt. Think about the life of patients before think about the prophets of the from a suitable industry. Innocence at President Trump met with some leader from the industry and the first concern was out. We make sure that They maintain perfectibility as we're going to employ more of their products and so forth. I think I would like to pass the message that we should all stay calm. But we should all contribute to this. The solution to the problem by staying home and not Diffusing the disease and I think that that's an important message. I see these pandemic as really attest on quality of governance and support of the population for the measures taken by government the in countries like Korea in country like Singapore encountered like Taiwan people have voluntarily comply to very harsh measures taken by the government because number one they believe in the government number two. They have a sense of respect for others. That I don't see a law in Italy and to be honest. I don't see a lot here too and I think that what we need to do is really internalize what the costs that were produces producing are without panicking trying to do our best to slow down the spreading of this disease. What about you kate? What do you think I think? The two major contaminations of our response to the current events here in the United States and I agree that it has been a capital. Isn't our culture in the political cycle. I think culturally. We're just not as used to dealing with situations like this as Asian countries. We think. That face masks look silly and we think that it's a waste of time to wash your hands after you go to the bathroom and we think that it's completely preposterous to have to stay home and telecommute. All of these things are good things and all of these things are simple things and the fact that our government isn't encouraging us to do them like very actively is really depressing. And I think is GONNA end up being dangerous and in terms of the political cycle. I think look markets bounce back people bounce back after sickness after illness goes away and so if we just take the hit if we'd just like closed down schools and like quarantine people like engaged in social distancing right away once the current of areas came to the United States then we wouldn't have the massive uncertainty about the extent of the outbreak in Seattle. Right now and chances are like code of disappeared relatively quickly and yet. That's not where we are in a state of panic and so the longer we go before taking extreme measures like the worst. That's going to get whereas I I think there's a possibility that China's on the upswing and that they will actually recover relatively quickly and so it's too soon to see how things shake out but it's pretty clear to me that their response here has been a capital isn't so K. to Yang influence. So you can yes you can change the perception that Americans have about out qualities to wear a face mask and I've seen a picture activate queued picture coming out of easily. Oh Two young lovers who kiss each other through a mask so you should take a picture with your fiance with a mask and kissing the mask that will Said the new standards of what we should do to fight the KONA values. I think that's a cute ending. Should get tested. Tested capital isn't as a podcast from the University of Chicago Stiegler Center in collaboration with the Chicago Booth Review also check out pro-market dot org a publication of the stiegler center. Don't forget to subscribe and leave reviewed. A capital isn't wherever you get your podcasts.

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The Big Mistake of The 2010s

Slate Money

37:27 min | 1 year ago

The Big Mistake of The 2010s

"Hello and welcome to the big mistake of the twenty. Th Edition of sleet money or guide to the business and Finance News. Not only of the week but also of the decade. We're GONNA be talking about the big news of the week this week. which is the latest conflagration in Iran which is related to obviously the price of oil which has gone up? We're GONNA talk about whether it's actually gone up over the long term or whether it's in long term decline what happened to the price of oil over the past ten years what happened to other assets over the past ten years whether things could've you've gone much better if only various governments in the US and Europe had managed to get that act together and we're also going to talk about Davidson. Who died at this week? He ran the NBA which is an organization which runs basketball games. You may or may not know about that. And and Anna has I'm stuff to say about that. So all of that is coming up in sleep money slate late. Money is sponsored this week by Cola which as you know makes appliances bit nowadays it makes all of those smart and makes those personalized personalized and it makes them. It's US set preferences to match a range of moods variety of routines and make your home as unique as you with a full whole range of Cola. Connect smut home products. Bring Smart your home. It Cola Dot com slash smart home so ana everyone is talking about geopolitical. Chaos right now The US is killing Iranians End this is causing oil to go up stocks. Go down people to worry about war and what I love is if you could help. Let's just take about thirty thousand step backwards in. Put this in perspective for us in times of like how important is You know Iranian oil supplies and that kind of thing to the global economy. And what's happened to the price of oil. And why does it matter and what you know that kind of thing right so I mean I think the number one thing to understand is that you know. Oil prices have been significantly lower than where they were. You know about about a decade ago when you know when you had very very high prices that in two thousand fourteen oil prices really tanked. And now they've kind of this mid range right and so let me some numbers so oil prices recently. If you're looking at Brent crude which is the global benchmark it's been you know just like around seventy dollars if you're looking at ti which is more like the US benchmark. That's been more more like a little over sixty dollars recently. Yeah exactly and that's basically where you've seen oil prices stick you know they've gone up. They've gone down. But that's really around the range that you've seen and so when you have movements like this where you have you know an Iranian general being killed and then you have Iran saying they're going to retaliate. Obviously that's going to cause us. By oil prices. People think supply could potentially decline supply declines because there will be less Iranian oil l. on the world market. Yeah and then. Also the idea that if there's more tension in the Middle East that could just 'cause other countries oil supplies to potentially also be able to decline so so or compared to our roughly seventy dollars base price of oil. How much oil moved in in I think it's four percent for five percent so it's it's not another couple bucks. Yeah and it's not an enormous. It's not an insignificant move but I would also just always caution people that you know we. We've seen this happen before where we where something happened where you know when you had the idea. that Iran had struck oil tankers. And then you had oil move and then it kind of went back down or kind of went back up depending on what was happening so so I put this in perspective for me just going back like ten years like what's been the range of oil prices. How much does it move over a decade long time horizon so over the the past decade you know if you had oil prices before they fell in two thousand fourteen you had oil prices you know above one hundred dollars and then they fell Thanksgiving of two thousand fourteen fourteen and then in two thousand fifteen two thousand sixteen they continued to be pretty low? I think the lowest was probably in two thousand sixteen. I think getting into the twenties so we have seen in the not too distant past. We have seen massive plunge in the price of oil from well over. One hundred dollars is down to like thirtyish in comparison to which any like small moves right now on the order of buckle to A AH really not worth getting excited about. Yeah that actually is what I believe now if this does really escalate if this tension between the US and Iran which granted has been waiting for but it really really escalates. Then yes that actually could cause problems but I would really argue that. This is a little bit of a blip in a much longer trend in the longer trend really has to do with the rise of shale oil in the United States as well as global demand concerns. So when you have your supplies increasing and demand is potentially not increasing then that is obviously going to bring down prices and also as you have more concerns about climate change coming more and also as you have the price of renewable renewable energy declining. That is just one more thing that can potentially weigh on oil prices. So I think that you have a much stronger long term trend. And then you have these kind of blips ups and I think obviously the long term trend is more important in the long term trend is down. I think what this Iran News today will show. I mean yes. Oil prices go up a little bit and the stock market goes down a little bit but longer term the energy sector the oil and gas sectors. Importance Horton since Like in sap for example has really decreased over the past decade. Anna said with the shale. Boom I think the number is oil and gas use to make up fifteen percent Santa the S. and P. Five hundred now it's about five percent and if you took out the two major energy companies than it would be like two percent like it's just not what it was because of the boom that's began in two thousand ten that I'm sure we'll talk about Josh Brown's peace and reform broker so even though this is major ager geopolitical news. It's maybe not major economic news. Well I mean I would say that you know obviously because of shale now. US is producing being a lot more oil than in the past. But we're seeing now is. We're seeing a fractured market. And this actually is kind of interesting. I think. Long term because traditionally. Oh you had oil has always been pretty concentrated whether you're even talking about standard oil. And then when you start getting into the nationalization of the oil industries stories and OPEC and the rise of OPEC and again this really control over the oil market and now really what. We're seeing when what we've been seeing since again. Around two thousand fourteen mark is fracturing of the market market and that really is changing things and I do think long term that is not only going to have economic consequences but is also going to have political consequences and we talked talked about this. A bunch in with Bethany McLean when she came to talk about her burke out shell but it's worth revisiting this. I think Josh Brown did a really good job. Just zooming back and saying those. There's literally more than twice as much oil production in the US today. We thought that would be this time ten years ago. You know it is an all time high left. I just pulled the Vegas a newsletter when it's twelve point seven million barrels a day which is unprecedented. The US's never produce juice as much oil but emily to your point. It's not Exxon Mobil. WHO's practicing this oil? It's a bunch of small little oil producers and there's so much oil oh that none of them are actually making that much money and this flood of oil from the US which was completely unexpected has weakened the big oil producers. It's weakened both whether there American or resilient or Saudi or anyone else and it is may it is. It is given less power to the people who hold onto the oil and and it has been largely overlooked. I think is like this incredibly dominant trend if the decade and I think Josh Finger and exactly why because no one made money okay from it you know no one directly sort of like oil or shorted oil and Maitland and and there was no big stock which zoomed up one hundred times it. It was just this background. Noise quietly changed everything and Josh makes a pretty compelling argument that it even explains the rise of Putin that without the oil and Gaffney as he used to be able to rely on he started getting much more aggressive. I so that is actually the only part of the article. I have some quibbles with because Oh some of them. The aggressive movements that Putin took were before oil prices fell and in a in a weird way I actually think that some of the sanctions on Russia Russia from the US and the EU actually kind of gave Putin a little bit of cover as the economy was tanking and Russia. After that point he could blame it on the sanctions when really it was Much more about other things but but having said that like I do think most of what you just said is very very correct. I really do think that this this changes something that it relates to other trends. That will talk about later in terms of the kind of excess capital needing to find a home very low rates that has really spurred spurred this kind of growth of all of these small shell companies but it is very very similar to actually what happened before standard oil took over actually really like part of the reason that standard well created that trust was because when you had a bunch of small oil companies it was impossible for anyone to make money. It's just like it just. There's too many price swings that just leads me to think that moving forward it is going to be very hard to make this a stable market. If you don't have a major player and then what I I guess guess my question going forward would be given this recent attack in Iran and given how much the energy sector in the oil sector has changed over for the past decade like if there's increasing there is increasing but if it gets even worse in the Middle East like how is that going to be different than it has been in the past given sort of this Evaporation of of power in the energy sector this kind of like dilution to all the smaller players right like dynamics. It'd be so different. I I totally by what Anna's saying here. And the natural implication of what Anna saying is that Middle Eastern wars at least from an economic annoying speculative and at least from an American economic perspective become just less and less important over time. There's no way we're going to have a seventies style oil shock because because America's light energy independence at this point. Yeah and I actually think it works the other way to. I've always said that. I think that we would never have been able to do the Iranian deal. If it hadn't been for shale oil granted we went out of their audio so it ended up not making a difference but part of the reason we were able to do that was because we didn't have to worry about the about angering the Saudis as much as as we would have to in the past. This episode is brought to you by the Motley fool. If you've ever wondered how to invest for struggled to understand how to make your money work work for you. The Motley fool is just what you need. The Motley Fool provides advice and guidance that cut through the noise of standard business sections and websites. It provide glad you a simple easy to use analysis to help you understand the market. The Motley fool was started by two brothers. Tom David Gardner in their garage and Alexandria Virginia. India both are so with the company. Thomas CEO David as the lead stock analyst and board member their flagship service stock advisor provides to stock recommendations every month with daily analysis and coverage designed to help you beat the market they have become well known analysts identifying the leaders trends before they become everyday aspects of life. I think Amazon in Nineteen ninety-seven netflixing two thousand four and marvel now autism. He in two thousand and four to Kick Start Your Two Thousand Twenty Financial Goals Motley Ali fools offering five of their favorites picks for free to sleep money listeners. Just go to fool dot com slash money. That's fool dot com slash money. I mean Josh Brown called Shale the most disruptive trend of the twenty tens. I don't know if that's true mm-hmm so emily what's your what would you nominate as the most disruptive trend of the two thousand ten. Now that we've seen the entire decade from beginning to end how. How would you sum up in terms of one big trend? If it's not shale what is it I knew going to ask me that and I should have won snappy answer but I have to sure so the first is is technology which upended everything like if you think about two thousand ten. We didn't really use iphones the way we use them. Now we didn't have Google maps. We barely use social media compared to now like it's just changed everything from politics. The economy to our personal lives one one and two. I'm sort of convinced by Jordan. Weisman and Paul Krugman. I know That the austerity the reaction action to the great recession but muted reaction in government. Spending was also one of the most disruptive trends of the two thousand ten because it helped helped pave the way for like Donald Trump's in the demagogues. Let's unpack that a little bit. Because I think most of our listeners wouldn't understand that I read Jordan's fees even I don't fully understand that so let's put the personal technology and social media thing to one side for the time being although you're right that was huge and we'll say that AH in the wake of the financial crisis. The Obama Administration and the Fed did a bunch of things to stimulate the economy on in in terms of fiscal and MON monetary policy and people like Jordan. Weisman and Paul. Krugman say that. They didn't do enough that they stimulated fiscally but they didn't stimulate stimulate enough that they stimulated in terms of monetary policy. But they didn't stimulate enough and they should've done more and I I totally by the idea that they should have done more. Aw and what. I'm not really well. Why would I don't buy what I don't entirely understand? Is this certainty if they had done more than things would have been radically different and it was the lack of them doing more really caused a bunch of Xyz and if you could be a bit clearer about those causal mechanisms that would be helpful so yeah it was the lack of doing more the lack of government spending that slow down the recovery and it was also not the Obama. People are the Democrats not doing enough but it was also the opposition from the tea party and conservatives who pushed austerity in the two thousand ten ground the government to a halt over things like that and made it sort of fashionable fashionable to cut rather than spend or even more fashionable. I think if there had been more government spending and more efforts to help Americans and not just banks than we could have had sort of like a new era of even growth sort of bottom up growth in the country that we didn't see and said you know for most regular people. Yeah maybe they have jobs and unemployment's low but the recovery hasn't just it. It hasn't been a spectacular as it could have been. I think this fomented a lot of unease and unhappiness is that sort of Yada Yada plus. That's social media thing. I talked about before gets you to Donald Trump. Yeah I mean. I think that there is a reasonable argument to be made that clearly post the great recession and during the great recession obviously there is a significant problem with aggregate demand. Right and if you do have have a problem with just in general thinking about demand in the country having more kind of countercyclical fiscal policies so having the government be have loose looser fiscal policy to try to stimulate that demand make sense and traditional Keynesian. Thought that is what you do. And although there was obviously some stimulus there was not not in in many people think there really was probably not enough in the United States and as a result there probably was a slower like more muted recovery especially for the average worker. And then I think on the other side in this to me is actually the biggest trend bar. None of the decade are incredibly low rates and very very active central banks this is really underlies almost everything and partly it relates to this because all countries and the US is well really relied on on monetary policy as opposed to fiscal policy. And while on the one hand there's probably that worked in some ways there are some negatives to that in the fact that when when you are relying so much on monetary policy you're going to increase income inequality because you're going to inflate asset prices right and the people who are holding most of the stocks and a lot of the real estate are obviously going to be wealthier and so I think that these two things you you could argue that yes they did some things. It's impossible to say that had they simulated more fiscally one hundred percent everything would have been better. You can never say that. But there is SOM- I do give some credence to the argument that you may have had a stronger recovery for the average worker. Yeah I think the mentality was you help those at the top and not those at the bottom where we saw how that shook out. I think that actually puts a finger on it much better than that. It wasn't a deliberate attempt to help the talk problem. The bottom so much as it was a deliberate attempt to let the central bank do the heavy lifting rather than Van Congress and given the tools the central banks disposal which is basically interest rates. And not much else if the central bank does the heavy lifting. Then then what you're going to have is the rich getting most of the benefit in contradistinction to if Congress had done most of the heavy lifting with a large edged deficit financed stimulus package. Then they could have targeted it much more. You know the the median household even poor households having offend. There's there was really a sense though coming out of of the great recession of sort of like if you remember how the the tea party started with Rick Santelli sort of ranting against it's people getting bailed out you know because they took on too big mortgages and how unfair that was there was really the sense and it pervaded everything I think that average ridge workers and people at the bottom kind of like deserve this in a way. There was that anger against the banks. But it didn't matter. There was still an impetus to help Dan that they're got it kind of that loss for average. Were and and the place where you see that most strongly is the place where we're still austerity hit. Hardest was actually know in the US. It's told in Greece. And so you look in that attitude of Rick Santelli to the you know homeowners. Who might get bailed ruled out in the United States is basically exactly the same as the attitude of most Germans towards the idea of helping out the Greeks Wchs and in both cases what you had was governments shying away from making those kinds of spending decisions because it was perceived as being being you know unfair or something or like you know bailing out the unworthy and because governments didn't make those spending decisions things much much worse than they need otherwise have been and the story of austerity is a missed opportunity story? I think in the United States in in Europe. It's much worse than that. In in Europe. We're really seeing. The story of austerity having on some level just fractured the entire European project. And I would would actually make an argument that you could even see this before the great financial crisis in the ozone crisis. I mean I would actually make the argument that you know part of Germany's fiscal policy. Also for you know since like the hearts were forms of basically not spending any money to try to push up savings rates and to try to make this grand. Export Economy really really hurt Europe. It's it's not seen as it is. It is another form of austerity. And if you save you save more you spend less than if you spend less that security right and also obviously then. They're going to be importing less from other countries. You know what I mean. So it's like they so as a result those countries are going to take on more debt. These things are connected and I do think one thing we are definitely seeing now is the pushback from a lot of places including even honestly the IMF. You know where you're starting to question a little bit more this kind of Dogma that the only answer to every a debt problem is just massive sturdy now you know and granted it's complicated. Obviously because you know you do sometimes have governments that are have you know poor spending policies policies and they are wasting money so like if this isn't to say that there aren't still some valid criticisms to government policies however. I think that there is much more of a kind of a push back now against that kind of pure kind of austerity driven dogma. I think you can see it. In the the Democrats running in twenty twenty like I I think sort of the tragedy of the austerity dogma was a there was a lack of creativity. And what could be done to stimulate the economy and the kinds of new policies. We could be looking at that. Finally now it's twenty twenty. Nine people are talking about sort of new interesting kind of things like green new deal or medicare for all or like like there's finally some kind of like creativity to economic policy except the I'm you know lucky enough now to work with some pretty plugged in political report says on Capitol Hill and they will unanimous that Green. You deal is dead on arrival not just because of Republican oppositional though that is a should but also because of democratic opposition. The couldn't even pass a green new deal among the Democrats let alone among us as a whole the people are talking about these ideas like I think they're more toiling after the financial crisis. Talking about them didn't help I mean it's more of a realization. It was clearly rumor right Kristie. Roma was talking about it in the White House after the financial crisis and Larry Summers show her down and said No. Don't even talk about it. The conversations have always been there and the outcome is always been. You know the one thing I will say and I do. I mean honestly if you kind of agree with you I mean I've actually actually heard the same thing out of people in who are talking to people in Frankfurt. That say the same thing that everybody's talking bad about Germany is going to start spending more than the people say talk to some German politicians and all of us laugh you so oh I do think that there is some truth to that however I guess the one thing though is that we are seeing that. We're getting to the limits of monetary policy. We are seeing that like monetary policy Z.. Can only do so much and once you get you know into negative rates and this kind of quantitative easing for forever your honestly almost seeing more negative consequences anywhere seeing positive consequences so then that kind of brings up the question of well. You're GonNa have to do something else right if we've kind of gotten to the point where you can't just rely on monetary policy then You know there are many other things to do so then. There's the possibility that fiscal stimulus could potentially become more reality. In a number of countries especially countries in Europe that have have more physical space. Slate money is sponsored this week by Cola which as you so makes it plans as it makes showers and toilets in mirrors and faucets and water filters bit nowadays is it makes all of those smart and makes those personalized and it makes them in June to you so that you can just turn on the shower and it is always going to be the right right temperature for you and your partner can gentleness hour and it's the right temperature for them. You can personalize all manner of things like the amount of steam. You can get the right playlist Louis List. You can personalise toilets settings you name it set preferences to match arrange of Moods or variety of routines and make your home as unique as you with a full range of Cola. Connect smart home product. Ring Smart your helmet colour dot com slash smart home so ana I know as you know as every listening to sleep money about about sports. School accepts the. I know that not only team owners but also players went from ludicrously rich which two insanely ludicrously rich. Over the past decade they had a great decade and one of the architects of that has just died. And that's about the limit of mine. Knowledge help me out here. Yes so David. Stern passed away on New Year's Day. He is the very longtime serving former commissioner of the NBA NBA He. He was commissioner from nineteen. Eighty four to two thousand and fourteen and the reason that he is so well regarded regarded in one sense. I mean there are definitely some controversies but he really changed the NBA. and honestly I would argue. He changed of US sports so when he took over in the eighties the NBA was kind of a afterthought like most of the teams were losing money. They were showing games on tape delay. They wouldn't even showing some of them live because nobody really really cared you know teams were playing and they had only a little bit more than fifty percent of people the arenas were filled so really this. This was not a really good look at the same time honestly honestly all. US sports really were still pretty domestic. Yes you had some you know. In Japan there was little interest in in. US Baseball but for the most part a lot of sports are very very domestic. Stick and then with David. Stern really did was. He did two things one. He really leaned into the growing stardom players. And this is important because this is actually something that the other leagues. We're kind of pushing back on. Because they were concerned about the power of these of this kind of growing stars in the the money that they could ask for whereas David Stern really leaned into that initially really very much. Magic Johnson and Larry Bird so so how did he do that. What do you mean when he leaned in to do that so there are a lot of kind of very a player? Focus TV promotions. He really kind of hyped up the all star game again to really focus on these kind of players. He you spent a lot more and really expanded their kind of entertainment wing to really like highlight and showcase players in terms of his relationship in terms of the players actual like the unions. It's a little little bit complicated. But he was involved initially when they did get rid of the this option clause which allowed free agency in basketball. And so you did have this kind of growth of the big star players being able to ask for a lot more money than they could in the past and well yes he did push back against this as all kind of leaders of these different leagues do. NBA players because of a number of reasons. Were able to get contracts. That are actually quite a bit better than you see in other leaks. So that's one thing in terms of this kind of growth of of at star driven industry and the other thing and the probably honestly maybe even more important but related is making this a global brand. So he really and this he did by setting setting up multiple kind of global. MBA offices the NBA was the first league have a regular season game outside of North America Japan and the other big thing he did was actually in ninety you too when he puts together the Dream Team of is the first time that you had professional athletes in a US Olympic basketball team and that was another thing that really like brought all of these stars is kind of to the world stage and it was the first time you had professional athletes at the Olympics. Exactly exactly yes. So that was the one where he kind of did it where he really made it so that you know you could go to many many many places in the world and people would know who Michael Jordan was. You're right about the branding and one of the things I've noticed living in America as a foreigner is the people talk about the League brand all the time they watched the NBA their fans of the NBA. Be a they you know is there an NBA game on today and the phrase NBA always appears. When I'm where I a is like a naive would expect people to use the term basketball like I feel like people like people don't even talk about basketball anymore not nearly Elliot's much as they talk about? NBA Is this. It's almost like the sport is unto itself the League and that's astonishing to me like a find that super interesting and every time anybody talks about basketball the invariably mention NBA. And I always have to mentally try and remember what. MBA stands for to try and walk out which sport they're talking about because for me like the sport is the basketball but fair. Seems to exactly what you're talking about this sort of branding the NBA has just made everyone think of is is this branded professionals. Say I will say I. I think you're right but I would say I think part of that actually though also has to do with college sports because there's a reason that people say I'm watching the NBA or the NFL. Because they want to distinguish it from College Basketball College football when people say they're watching baseball they do not usually say the MLB sometimes they do but not as frequently. And I think that's because people don't watch as much college baseball What I was GONNA say is in terms of the branding of the NBA? I think David Stern was really instrumental in branding the NBA and really distinction from the NFL. Not Not not only in elevating players into stars but sort of letting players be themselves letting them be a little more outspoken. Have a little more personality. The end sort of branding the NBA as a Progressive Sports League. And I think that turning point there was magic Johnson when he was diagnosed with HIV in the early ninety s this was like a very different time AIDS and HIV was still pretty stigmatized and when Magic Johnson got HIV and announced announced his diagnosis could have could have gone a lot of ways but stern really supported him and had him play in the All Star game. I think the following when you're the same year and That was very controversial decision at the time but it turned out to be a huge boon. Not only for HIV awareness and sort a de stigmatizing the disease but also for Magic Johnson. Who Said had some quote they had in the Times obit that was like David? Stern saved my life. Basically by not you know shunting him off to the to the side but like highlighting him in that game and my husband. Who's a sports fan was talking about that game? And how Johnson you know everyone everyone he he did phenomenally and they even like ended the game a little early and it was like this very emotional thing and it really sort of highlighted the NBA. A sort of the more Progressive Sports League and I think about that a lot just in contrast with where we are with the NFL which is just like brutal brutal sports. I league where players aren't allowed to have distinct personalities. Men Look what they did to the the Guy who kneels right Colin Kaepernick And how he's been ostracizes just such a distinction and I think stern was instrumental there. I think that that is that is definitely true. I mean I know that there. Are you know they're definitely worth some controversies receives over the years in terms of. I know they were likely a dress code at one point then. They tried to put in that. I I know a lot of people thought was kind of audible. Yeah it was when they were like going like they you had to wear suits you know like when they were going at appearances and that kind of thing there is definitely some some push back to that and and and of course whenever you you have an instance where you have a owner owner. I'm sorry commissioner. Who is white and league? Were dominantly African American. Like they're definitely going to be some some issues having said that. Like you know if you do listen to what a lot of the players have said since the death I mean. They're definitely out a lot of people coming out and really saying that you know He. It was certainly not far from perfect but in comparison to other there leagues he really did allow the players a lot more freedom and I do think that part of the reason that it is a more precisely and I think you're right about that I mean I do think he did set a kind of Understanding of what players could do which I which I definitely think is a positive thing and and I think that it's another the reason why the NBA continue to become so popular. Because it's it's he understood. That stars are really why People Watch professional sports often. I mean yes. People Watch professional sports because it's their hometown team or whatever but people get really excited in professional sports about players and he understood that and I think that's something that other Leagues Sometimes Times. Still to this day. I don't always understand a sad number. I don't know what's going to set. My sad number. Is Eight thousand listen. That is the estimated number of Koalas that have died in the Australian wildfires. So there have been something like I mean. There are enormous Ramos number. I think it's like half a billion animals have been killed Because of these wildfires but that includes they believe about eight thousand qualities and there are not that many walls in world and calls also cute so I just saw this statistic very set happy happy New Year to third to have family. Do you have a number. I do have a number. I'll tell it to you. Eleven point nine seven billion. That is the amount in taxes that Jeff bezos estate would have to pay. Hey to Washington state if he died and it would raise the state's revenue tax revenue overall fifty two point one percent in just one year and I got the number from this really interesting paper that I'm like halfway through was reading on the train over to sleep offices by Enrico already of Berkeley and Daniel Wilson of the San San Francisco Fed that looks at a state taxes and this change in the federal. I guess in two thousand one which made it sort of advantageous for millionaires. There's and billionaires to move from states with estate taxes to states without state taxes Anyway it's really interesting and one of the more surprising conclusions collusion's they come to. Is that the estate tax is really worth it like even Wen- millionaires and billionaires. Some of them do move the money that states get yet when a rich person dies totally more money than they get just from like income taxes and other taxes with the exception of California so anyway it's really interesting paper and it and shows the power of this really interesting death tax and the only other thing I'll say is that I read the paper thinking about knives out which is really when you come through the movie and it's all about like what guy does with his money. After dies. These are very important and big questions and provide right so if if if the descendant was a movie about the law against perpetuity and it was probably the best movie ever made about the law against it is a knife out is really a movie about the estate tax and the NESTING Sensiti being much bigger my number is twenty five five percent which is the proportion of all be a produced in the world that is consumed in China China. Wow this is up. From basically nothing in the nineteen seventies and then like the rise of China as an economic force has coincided with the rise is of China is a beer drinking nation so China overtook the United States in about two thousand four United States historically had about twenty percent of the beer consumption in the world. Now it's down to about fourteen. Germany has just plunged it used to be like eighteen and now it's less than five in China is taking all of it who knew what about hard seltzer. The Chinese the next thing. This explains blames the decline in American some because everyone's drinking white Claw Harley. Apparently the guy who who started white floor is now three point. Six billion dollars in case seem track of your billionaires. Yeah maybe that should have been my number off in any case. I think that's it for us this week. Many thanks adjusted mean molly it for producing and especially to Jackie fillmore. Who's sitting opposite me in a very cozy little room in Edinburgh Scotland and this recording me so that I can sound completely congested? Many thanks all of you for listening. You can keep the emails coming on slate. Money at slate dot com and we are going to have a sleep eight-plus segment about Carlos Goan his exfiltration. We'll talk to you next week on slate money.

US NBA Iran standard oil Thomas CEO David Europe Anna David Stern Germany Josh Brown Middle East basketball Donald Trump Rick Santelli Michael Jordan Magic Johnson
Printing Money Doesnt Make Government Free  Ep 555

The Peter Schiff Show Podcast

40:12 min | 1 year ago

Printing Money Doesnt Make Government Free Ep 555

"The leadership so what I've decided to do is something that I I was GonNa do eventually. Anyway I was going to be building a studio here in Puerto Rico on the grounds of my home where I was going to be able to do my podcasts. And I was going to do The Youtube Videos live from my studio. I'm going to have a set. You know there's going to be really good equipment but who knows when I'm going to be able to get that done now. I have no idea what I'm going to get a construction crew over here. I mean things take long enough in Puerto Rico When there's no corona virus so who knows how long it's GonNa take for me to actually construct a studio. It was going to be a standalone structure on property. But for now. I'm just GonNa do a makeshift studio in my Home Office. I'll order some equipment better camera something like that to try to do it a little bit better. But here's what my plan is going forward is the way I WANNA do. My podcast is. I'm GonNa do them live on Youtube? I so I'll be able to get them done earlier today. I mean most of the time. Maybe I'll try to do it. After the market closes maybe four four thirty ish. Usually things slow down for me about that time. Maybe for other people who are trading the market. Who also WANNA listen to what I have to say you know once the market in the US closes. And I know I have a much bigger audience than just the United States. But that's my largest audience so I think after the market closes people things calmed down and people can watch it live. Of course anybody can watch it later. You know the Youtube video will be there so you don't have to watch it live. You can watch it later in the day at Your Leisure. But it's going to be a little bit more impromptu. It's going to include the video then what we're GonNa do is we're going to clean it up a bit. We're going to take the sound from the live youtube stream and then create podcast. And so I'll do the youtube first. And then it'll be cleaned up edited out a little bit and then later on posted to shift radio so that people can listen to a much cleaner cut on the podcast so for people who You Know WanNa see a raw wanNA see live. WanNa see my face Just you know. Come Youtube but I did notice too that the youtube live streams that I did got a lot of us and so maybe by being live on Youtube and Also by having the video maybe. I'll get a bigger youtube audience. You know we just went over three hundred thousand subscribers so thanks to everybody who who subscribed took me eleven years to get up to three hundred thousand subscribers. Hopefully it doesn't take me another eleven to get my next three hundred. I really want to get the subscribers up to a million so maybe doing the video again. I will do that. Get more people to To Watch on Youtube but it's also a reason to not only watch the youtube but then later on the listen to the podcast because it's not going to be identical. I mean right now the content on video and the podcast are pretty much the exact same thing I just record it and then we put it on Youtube and we put it on a shift radio but now what's on. Youtube will be different. It'll be more on youtube. It'll just be quicker and cleaner so you can listen to it again maybe to get some of the highlights of what you saw. I could see people you know. I'm not taking questions so I you know I'm this is not like the live chats. Were I'm going to do Cuny? I don't have time I will do those again. I see people are asking me questions but yeah I can't do three or four hours so this is just me talking. I can see you guys chatting up in in the screen Maybe I'll react to something Maybe not but this. I'll do another one of those again but right now the format just going to be like the podcast. I'm GonNa talk and say what's on my mind regarding what what what happens. You know in the markets today or in the economy. The News and you know there's so much news I mean it's really trying to figure out what not to talk about as opposed to what to talk about but I forgot to mention. Today is the special video that I did yesterday. We had a lot of fun with that over the weekend. You know somebody and I forget the guy's name I I'll I'll mention it the next time because I wanted to thank him for sending me the video but somebody actually sent me an email with that old Carlo. Show just say hey deja Vu remember this show and he sends me a clip to a youtube of one of my appearance on. Kudlow and company from actually happened to be the very day the very day that the Fed cut rates to zero for the first time back in two thousand and eight and so it was me on that show and I remember at that time. You know Larry cudlow one day he actually called me directly just to tell me how much he appreciated me coming on his show. He was like you know. Peter you're the only one that is speaking out for us. You know meaning him me because Larry Cudlow I know is a kit kudlow because when I first started going on his shows all optimistic you know this the greatest economy and the you know the the story never told the goldilocks economy but when the Fed initially reacted by slashing rates and doing Qe cudlow did not like it. He was very much in my camp very much. Against what the Fed was doing so much so that he personally thanked me for coming on his show and he wanted to know if I can come on more often if I had the time because he wanted somebody to actually articulate what he believed and I was doing that. I was the only one doing that and so I when I saw this this clip again. It really made me think that a lot of people don't realize this because if you watch that video you'll notice that kudlow really agrees with me. I mean he's not coming right out and say I agree with Peter but if you watch the clip you'll see that that's exactly what he's doing. I mean he knows I'm speaking for him. I'm speaking for all the people who believe in sound money. Like cudlow did at one time and he probably still does deep down on his art but he knew that the Fed was making a mistake. What they were doing and the interesting thing about this video. If you go back and watch it is that all the guys from the Fed like Wayne Angell and Robert mcteer. These are former fed guys and they were talking about how Ben Banak is going to not be a Greenspan right. He's GONNA leave rates too low. He's not going to leave the EU on that he's going to be very quick to pull back the liquidity right that this is only temporary. And I'm out there saying how do you know that there's no way and Kudlow and sense or agree with me that we were opening up a Pandora's box yet. All of mainstream fed guys including Steve. Who is there you know the senior economics reporter at CNBC BACK? Then you know we all look at a long younger back in two thousand eight but these guys are like. Don't worry this is temporary. It's twelve years later. We're at zero again we're doing. Qe Infinity how was it temporary? See what I was worried about. What kudlow was worried about what? Rick Santelli was worried about it. No eight was. The Fed was going down the road from which there was no coming back. See what I was saying. Back then is look if the Federal Reserve can't raise rates. Now how are they gonNA do later once they they make sure everybody has more debt. That is the problem. You can't deliberately get everybody addicted to a drug and then think you could just take the drug especially when you've got them addicted in the first place so kudlow knew that so you watch this you could tell and Kudlow talk about Argentina. He brought up. Argentina. I didn't I just followed up on Kudlow reference that. Hey we were becoming the next Argentina. Well if Kudlow was worried about US becoming the next Argentina back then what? What does he weren't about now? I mean what we're doing now makes a Bernardi did he. Looks like Paul Volcker compared to what Paul is doing now. This is so off the charts reckless but again it all got started back then if we had listened to me of the policy makers listen to me e we wouldn't be in this mess but of course they listened to be. We wouldn't have even had the bubble popped in two thousand acres. I was warning about that one too. So what happened was when I saw it I was just GonNa put it up there but I was going to have an introduction to help people look. This is twelve years ago and to give a little back story to the video before I showed it. And then what happened? Is Paul Maresca? Who who works with me here said Hey. Why don't we just have the credits? Scroll like Star Wars. You know we have that big scroll and then one thing led to another that we just kept getting carried away and making the whole thing more and more like star wars and so it just became a very fun thing to do on a on a quarantine weekend here in Puerto Rico and so the result is the The video that we put out on Monday so you know I had a lot of fun making it. I think it's You know the beginning of the end. I think that part is very funny if you read it but the important part is the actual ten minute. A- Kudlow I mean I had a lot of time on on that particular episode and we really Hash this out and you could see a who is right. Who is wrong? That was the real point of it and that you know this is just happening all over again except now. I'M NOT ON CNBC ANYMORE. To sound the alarm to talk about how crazy it is. Kudlow there either. He's part of the administration now advocating the very policies that he's personally called me on the phone to make sure. I can come on his show to be the voice of reason in a course of insanity and Kudlow knew it right. He knew it. Then I'm sure knows it now but also another thing. I wanted to point out to somebody put together a youtube video. Called Peter. Schiff was right Scott nations addition and I watched it. It's like forty minutes so it's really not cut down at some of these interviews. I was doing on future's now and if you watch him. I got a lot of airtime on futures now because it wasn't actually CNBC TV. It was like their website and so they allowed me on the website for a while and there. I got a lot more airtime and so that's probably some of the best stuff that has ever been set on CNBC. I mean the most accurate information as ever been presented to the CNBC audience was presented. By me I on these clips and so it's mean Scott Nations because this Scott nations was like he would just criticise me. He would just interrupt me and he would accused me of just promoting and selling gold and lying and I thought it was really funny about it is at the end of this clip where I am out there. Warning about the Federal Reserve talking about how the Federal Reserve is inflating bubbles and Scott. Nations is making fun of me. Peter Schiff. You're wrong. You said they'd be queuing for and there hasn't been queuing for of course. Now there's two four five six infinity whatever but I kept saying Scott. I didn't say when it was going to start. I just know it's coming. He just kept yelling at me interrupting me because I was wrong. Wrong wrong right and he would talk about everything was great and the. Fed was great and all this stuff then at the end of that. Forty five minute episode of me warning about the Fed and him. Chastising me for warning about it right. Basically being a defender and a cheerleader. He just did an interview on television. And he had the gall I Scott nations came out and said you know this is all caused by the Fed. They've been inflating these bubbles. They did it. They kept interest rates too low for too long. And you know what I don't know of anybody who has been a bigger critic of the Federal Reserve over the years than me meaning him Scott nations that he doesn't know of anybody who's been a bigger critic of the Fed than him. I mean what about me? He doesn't know about me. I mean I'm the biggest critic. He knows that he knows. I exist because he criticized me for criticizing the Fed so now is this guy lying and pretending that he was the biggest critic of the Fed and they're cheap money policies but he claims he doesn't know anybody else bigger critic than him when he knows me. I mean all the religions like Scott Nations went to sleep one night as Scott nations and he woke up he thought he was Peter Schiff so I thought that was very interesting. Scots ever reached out and said Oh peter I guess I guess you were right. I guess I was wrong right all those years where I told you you didn't know what you're talking about and you were wrong and you're wrong for predicting cue for you know. I did you know and of course in this one cut. They're jumping all over me because they say Peter. Schiff said goal would be at five thousand dollars in two years. They kind of blindsided me by that. Because I don't know I I go on television. I don't remember what I say but I actually found the clip that they were referring to where they said. Peter Schiff said bowl would be at five thousand in two years and I didn't say two years they asked me because I said Gold going to five thousand and those guys asked me well when and I sit on a few years I didn't say too I said a few so yes a few is three may be. I mean there's no set definition for a few but yes was my five thousand gold call premature yes. It was premature but called still going to get the five thousand but they were just hammering all over me because I said it would go to five thousand and it wasn't there yet as if nobody ever come on. Cnbc and set a stock is GONNA go to a certain price and then it went down instead of going up. I mean nobody is perfect. You know on on on their timing yet. I'm the only one that was held to this standard perfection because the price gold still hadn't reached my target. Well you know it's gonNA reach my. I think it's interesting. If you look at these interviews you could see the price of gold scrolling by at eleven hundred and despite the fact that it was down. What forty five fifty bucks today? I mean we're still just below sixteen hundred so we're still forty percent higher now than it was then and all they can do is beat me up about recommending goal. I mean think about all the stocks that are down a lot more than the price goal. There are plenty of stocks that people have bought. Listen to see you see that have gone down much more than the price of gold yet. They never criticized the people who recommend those stocks. But yes they criticize the hell out of me for recommending goal and back. They criticize you so much that they banned me from being on a on their airways. I haven't been on a two or three years. I'm sure I'll never beyond again given the fact that I've now become so critical. Talk of a burning bridges although I think the bridge might've been blown up before I tried to light fire to it but again if you watch this this new video you know. That's probably some of the best television that CNBC ever had. Of course they'll never have anything better because I'm not anymore but check it out. We got over eighty thousand views on the one that we did And it's called currency wars the rise of hyperinflation. And you know if you're a star Wars Fan Watch that a couple times the beginning and the end. There's so many different star wars references that I incorporated into my language And actually the beginning is. It's exactly the same. I mean you can go on the Internet and see how star wars episode for a new hope how that begins. And we pretty much copied it entirely. There are a lot of people out there that are saying you know. Get Down Because of the copyrights look. You're allowed to do that. I just can't monetize video. Not that I really care too much about monetization so Disney is going to get the money so when you watch it you know you to make a little money. They're GONNA pay Disney and I figured you know Disney probably needs the money more than I do right now anyway so I'm happy to help By you know by sending some some royalty money over to Disney For using their their content but anyway I got a lot of stuff. I WanNa talk about today in this podcast. First of all you to the markets closed right. The Dow's down a little over four hundred points today. This is the end of the quarter. And this is the worst quarter. Dal has had since nineteen eighty-seven that fourth quarter which included the stock market crash of Nineteen eighty-seven so we didn't have a quarter of this bad at all during the two thousand and eight crisis. This is worse than that. Then think about this. The stock market was hit so hard. Despite everything the Federal Reserve did to stop it from going down I mean. Imagine where the. Us stock market would be right. Now had the Fed not done anything right. Had the Fed not tried its best to save the market. Where would the market beat now? The fact of the matter is we wouldn't be better off. Had the Fed done nothing. I mean the feds. Help is actually hurting right. That's the problem. They've helped so much in the past. That's why we're hurting so much. Now they need to let the market go down because they didn't let it go down more the last time in the time before that before that that word so much trouble now but despite much more support I mean the amount of quantitative easing the amount of stimulus that we've already had so quickly dwarfs dwarfs by an order of magnitude what happened in in two thousand and that's why I've been saying I mean even if it wasn't the corona virus right I mean obviously this makes it worse right I mean I didn't I didn't have this go into my forecast right. I didn't foresee a pandemic but I knew something was gonNA happen and even if nothing happened you know. The bubble is going to deflate on. Its own but I've always said that he would be bigger than one two and three combined because I understood and recognized how big the bubble was because the bigger the bubble the bigger the pop and then the more arid takes to try to blow up back up again so I knew the next time. They tried it. They would have to throw the kitchen sink that it would have to be the biggest round of q yet and they've surpassed my expectations with this with this. Qe Infinity but despite that we've had this Really Rough Quarter in the stock market. But it's going to get a lot rougher it particularly in the US economy because ultimately it's not only investors who are gonNA suffer more because of what the Fed is doing but hold comedy is going to suffer. Yes the losses. Nominally won't be as great but in real terms adjusted for inflation. That's why that video is the rise of hyper inflation. Because as I said hyperinflation used to be the worst case scenario that I was optimistic that we would avoid but I knew was a possibility but now I think it's more of the most likely outcome. It doesn't seen that it's a long shot. It seems that avoiding hyperinflation is a long shot. So that doesn't mean that hyper. Inflation is guaranteed. I think there's still time to avert that fate but we're running out of time and and right now nothing that we're doing leads me to believe that we're going to make those choices. So it spoils full speed ahead. Now are right to hyperinflation city. And that's going to be the worst possible outcome for the economy and for the markets but I made a little list here on my laptop at some of the things I want to talk about on today's podcast. Oh first of all the ink is barely dry. Right on the eight hundred plus page stimulus bailout bill. Whatever you're going to call that right and of course how many people in Congress could possibly read an eight hundred page bill. In the amount of time between the time they finished writing it and the time they voted on it. I mean nobody could possibly read this yet. They all voted for it anyway. I mean member Nancy Pelosi. We gotTA pass the bill to see what's in it. Well that's what they did. They all close their eyes held their nose and they passed an eight hundred page bill. Who the hell knows what's bearing in those pages right. What kind of deal we make with the devil here to get this two point. Two trillion dollar boondoggle signed by the president. So that's number one so the ink isn't even dry on that one and they're already queuing up another one right. And what are the reasons? They say they need another one is because they need more money to bail out the states. More money for the individual states even though they got included in his bailout. They need more right because the states are really in a Lotta trouble so now they need more bailout money for the state governments which is a huge huge mistake. They're going to make it but it's a huge mistake. Look not all states. Need a bail out. There are states that have been running budget. Surpluses right that have plenty of money in their rainy-day funds but then there are other states. That have no rainy day funds. That have been barring like crazy. While the sun was shining in fact there are a lot of states that we're going to go bankrupt anyway municipalities. That we're going to go broke. It was only a matter of time. The Kuroda viruses almost like a get jail free card for these states because now nobody is going to oppose these bailouts because they can say well wasn't our fault. I mean it's corona virus right. We need this money and nobody is going to deny them. The money see had some of these states gone bankrupt. Under ordinary circumstances it would have been easier to resist the moral hazard of bailing them out and making them deal with it themselves but nobody has the guts to do that now so now everybody can throw all their problems just like CEO's whenever there's a problem they'll find this new thing to blame it on. Why drought everything right? Whenever there's a problem get all the bad news out of the way. Well now all the states are doing all this right. They're they're going to try to get bailed out when they needed a ballad anyway but the other problem is the moral hazard you see. Once we bail out all the states. That were recklessness irresponsible then we show not only those states but the states. That were prudent. That there is no benefit to being prudent. You don't you don't reap reward For having a balanced budget because there's no negative consequences to living in the moment and being extravagant if all the states and municipalities that just bought votes by running big deficits if they all get bailed out if their residents are not you don't have to suffer any negative consequences for all that profligacy of the past then all the states that were prudent. They feel like a bunch of idiots. What the hell are we doing? Why didn't we run deficits? Why didn't we promise more than we collected taxes? So what is going to happen now because of this massive state and maybe municipal bailout is that in the future to the extent that government has anybody anybody out which you probably won't but in the future. The government just guarantees that the next time the states need a bail out. It's going to be more expensive because the states that extravagant are now going to be even more extravagant because they'll expect another bail out and the states that were prudent. Well they'll they're going to become extravagant too because we've taken away all the adverse consequences for being prudent as well as all the benefits for being rooted so everybody is reckless. It's moral hazard. It's amazing it's such a simple concept but you can't understand that concept if you're GONNA be in government that that make sure that you have totally no familiarity with the concept of moral hazard because if you know anything about it precludes all these bills so you have to be completely ignorant of something really basic before you can serve in government and another thing to part of that. I was watching today. Andrew Cuomo the governor of New York who a lot of people think maybe he's GonNa Replay Sleepy Joe Biden at the top of the Democratic ticket. I mean it's a long shot but there are people that are betting that on predicted at a lot of people would rather have a Cuomo. At least he's not senile and so You know he you know He. He may actually be more formal a candidate. Although again I think a the economy's arrests are that should favor Biden but cuomo today. I said that I think what he's thinking about doing. New York is basically passing some kind of law that says that tenants had their. Rent's cancel for three months. I mean not. Just you know you don't have to pay pay later you just. It's outright canceled right. You don't have to pay the rent at all is forgiven. You get three months of rent free living right because the crowbars now he's okay. Well what about the landlords okay? Well we'll forgive three months of their mortgage praise right so that you know three months that you never have to pay. It's not that you have to make it up for the balance gets added to your loan balance though it. You just don't have to pay so we forgive the tenants their rent and we've forgive the landlords their mortgages okay. Well what about the banks right? What about the lender? Well he's back. Well we'll let the Federal Reserve bail them out so in other words he's not even president yet he's already passing the buck. He wants to forgive the rants forgive the mortgages and then let the Fed bailout the lending institutions by printing more money. And of course. It's convenient that you didn't mention anything about the property. Taxes that the landlords would pay to the state government. He didn't mentioned forgiving that he just mentioned forgiving. The money that the private sector is getting and then hoping that the federal government will will will add the bail out by somehow rescuing the banks but he's not denying any revenue to the states but the apart from being illegal I mean. How could you just cancel contracts? Say People don't have to pay their rent and just because you don't have to pay your mortgage I mean most people if you're a landlord your rent is more than your mortgage if you want positive cash flow so you're losing out. What about the utility bills? Maybe that they might have to pay or other other other factors like property taxes but what about the landlord? That doesn't have a mortgage. What have you got somebody? Maybe who's retired has some rental rental units and they live off their rental income but opposite them. They don't have a mortgage now. They don't have any rent. You know that this whole thing is ridiculous that you could just unilaterally look. I don't mind the private sector on their own. Without government coercion individual landlords and tenants and banks making arrangements with one another. But when you have the government just coming down and cancelling and say you don't have to pay your rent. You don't have to pay your mortgage. Here's the bigger problem. A lot of people a lot of people who are lower to moderate income people people that maybe you're making fifteen dollars twenty dollars an hour or something like that. A lot of these people right now. They're GONNA be making more money not working than they were making when they were working again. Because this bill right you get this four months of emergency unemployment money where the government gives you an extra six hundred dollars a week on top of whatever you get in unemployment so let's say somebody was earning seven hundred dollars a week in their job and now they're on unemployment and unemployment is three hundred dollars a week. Right I'm not really sure what the benefits are. But let's say you get three hundred dollars a week. Well now you get an extra six hundred from the government. Now you're at nine under week. You're getting paid nine hundred a week not to work. You only getting paid seven hundred a week to were plus. You're saving all the money because you don't have to commute back and forth to work and you're probably saving on taxes you're not paying your payroll tax anymore right. Not taking this happen to social security tax taken out of your pay so people's after-tax income now is much higher than when they were actually working for living and now on top of that they don't have to pay any rent so they don't have to work. They don't have to pay rent and they have all this money coming in for the government. Let the good times roll. I mean who's talking about people sacrificing right now. When a lot of people are living better than they've ever live they have a big vacation. They don't have to go to work. I don't have to pay their rents. The problem is once the politicians given to you. Are they going to take it away? After four months of extended benefits after three months of not paying your. What if you're still unemployed? Oh well we got an extended right. This is the government is taking advantage of this. Have this huge army and people get paid by the government. This is a disaster. This is not the corona virus. Doing this this. Is the government doing this? And you know what's also going to be happening now. I'm reading about this. You know some of the workers in the so-called essential businesses right the ones that the government deems essential right. So they're not having those guys go home. They're still at work. These guys are getting mad. They're getting frustrated right because they're out working. Busting their butts well. A lot of other people are at home making more money. Not working than they're making working. I mean can you imagine the guys that are working in supermarkets or delivery guy's right they want they want hazard pay because now they're risking the virus right their risking getting corona virus? They want time and a half. They want double time. I mean I can see this big movement of a lot of these workers. They want a piece of the gravy train themselves. They want to take a vacation at home and watch Netflix all day and just eat junk food that they're ordering online right. Why can't they do that? No no they're actually going to work just like normal and they're paying the taxes and all that and so. I think that we're going to have to start paying the people who are actually working even more money to work. Otherwise we're not GONNA do it. Which means that the business owners that are it operate these essential businesses now? What are they going to do? They're going to have to raise prices right so prices. That's another reason that prices are going to go up because to be so hard to pay somebody to actually work when the government has made it so lucrative not to work right in order to get something actually work and to risk contagion with the virus now and actually do this work so we have. We have just opened up this massive massive can of worms here also another thing. I read on trump's tweet right. Trump tweeted out today that because interest rates are so low that the federal government should now take advantage of this to do the infrastructure bill. But he's always wanted to do ever since he was campaigning. He's wanted to do infrastructure but before it was a one trillion dollars bill. Now he wants to trillion dollars of infrastructure spending. I mean borrowing and spending. Why well he says well because rates are so low the only reason rates are so low is because the. Fed is monetize all his debt. If the Fed wasn't printing all his money race would have skyrocketed. I mean they were starting to go up before they started doing the reports that was even before the corona virus but now had it wasn't for the Fed buying all these bonds we wouldn't have the lowest interest rates ever so what what trump is basically saying. Hey as long as the Fed is printing up all this money. Let's have them printed up an extra two trillion. So we can go and rebuild. Our infrastructure is all that inflation going to be worth it. I mean first of all I want to clear up the Smith and I know I've talked about it before on my podcast but infrastructure spending isn't a stimulus. It is a burden in the short run. Right it's only a stimulus in the long term right. What makes infrastructure good for the economy is if you fix up your infrastructure and if it makes the economy more productive break. Let's take an example of a bridge. Right let's say that there's a trucking routes where goods are transported between two points. And let's say it takes four hours to transport by truck and you know it takes the gasoline or whatever to fuel the truck but what if they build a bridge that can shorten that distance from four hours to two hours? Because now there's a bridge right so they can have a more direct path right so you can save two hours of commute time and you can save you. Know some of the extra wear and tear on the truck you could save. Some of the energy costs so does it make sense to invest in the new infrastructure. The building a bridge right in order to knock off two hours of commute time. Well you can do a cost benefit analysis. You can find out how much money you will save in resources with the shorter Trip versus how much does it cost to build a bridge in way resources right materials and labor and you could do a cost benefit analysis and you could determine a payback period? So let's say whatever it costs. Let's say it costs five million dollars to build this bridge and over the next six years. We save five million dollars in costs by having a shorter trip than the payback period on the investment is six years. And you could say. Hey that's a good investment and six years from now we're going to reap the rewards of the sacrifice we make now because you have to pay the cost. You have the bear that burden you have to free up those resources from something else. That was maybe providing something more instant as far as gratification right instead of producing things for current consumption. We're diverting those resources were building a bridge that's going to lead to a long term improvement in our productivity and so it will provide a net stimulus to the economy in six years so it doesn't provide the stimulus. Now it's in the future but of course let's say you build a bridge to nowhere which is the proverbial pork barrel spending when you have government infrastructure. You build a bridge. That goes nowhere. Well then it doesn't improve your productivity doll. Don't do anything and so you're just wasting money. There's no economic stimulus at all. It's a complete sedative. And that's what happens. When you have the free market investing in infrastructure it's infrastructure that improve our lives because otherwise they wouldn't make the investment if they couldn't have a return on the investment the private sector wouldn't fund it. But what happens with government is? It's all about. Hey I'm a congressman and I want to give out money to my constituents I I want to you know it's a bunch of free money I can create some jobs right. They don't give a damn if the infrastructure improves our lives. No they just want to get votes. They want to use the infrastructure spending money to buy votes and thank the people that helped get him elected. So that's all this is going to be going to be a two trillion dollar boondoggle. It's not going to create any economic stimulus. It's just going to add to economic pain. You know the irony of it is right. Here we are. We've been hit by an unexpected catastrophe. The government is bailing out. Everybody they're bailing out all the private citizens they're bailing all the corporation. We're going broke where we're spending all this money and trump says hey let's do infrastructure now. This is the perfect time the perfect time. This is the worst time we couldn't afford it before we really can't afford it. You know it's like a good analogy would be so let's say a guy loses his job right just got fired from his job and now he's lost his income and so he's starting to live on credit cards and you know he's barely making ends meet and then he says. Wait a minute. I've always wanted to put in a swimming pool. This a perfect time as long as I'm borrowing money anyway while don't I just take out a second mortgage input into swimming pool right. I mean would anybody who just lost their job. Think yes now. It's time to put it in a swimming pool. That's infrastructure improving the infrastructure of your house. Then let's not when you do it. You don't make those type of investments when you're broke and desperate for money. You have to wait until you're flush you have to wait until you have more resources. I mean the idea that now is the time to do infrastructure. It shows you. I mean how little a sense of reality Donald Trump actually has to think that everything is free. That stuff comes from from from heaven that we don't the work that just money's just free look if the Federal Reserve could just print up trillions and trillions of dollars and we can have everything we want. Why did we wait for this crisis? Why do we need the corona virus? Just do it all the time. I mean the reason. We don't do it all the time because it doesn't work you know. The most expensive way to pay for government is through inflation. People are going to find that out pain for paying for bailouts. Stimulus with printing. Press IS GONNA cost every American more than had we paid for the honest way. Of course had we had to pay for it. The Way with tax increases. We wouldn't have it because the public wouldn't stand for. They don't want to pay the bill. It's only because they think it's free that they want it right. Who doesn't want stuff that's Free? But when the cost of living is spiraling out of Control. Right you're GONNA know who to blame. Of course. The politicians are going to blame the greedy businessman. Price gougers speculators you name it. They're never going to accept responsibility for the inflation horror that they will be unleashed on this nation. Another thing I wanted to point out to our sauce couple stories about companies like under armor. And I forget some of the others clothing garment companies. That were now a retooling. And they're making masks right surgical masks that we can wear around to protect ourselves and others from the corona virus. Apparently I think the best use of a mask is to keep you from touching your face. 'cause you when you if you handle things that maybe have virus and then you touch your face. Then that's how you get it but if you have a mask here then you'll touch the mask instead of your face and I guess that will reduce the The transmission of the virus. But what people have to understand is maybe. This is the right thing to do. We need more masks and so AH companies are gearing up to make more masks but to the extent that these companies are producing more masks. They're producing fewer clothing articles right so if under ARMOR IS MAKING ASK. They're not making as many t shirts or socks. Run A pants or whatever they're making right so the supply of that stuff is going to go down as so the price of that stop is. GonNa go up. I mean there's so much. Inflationary pressure building up from higher wage costs for the people who are still employed to less production from everybody whether it's because they transition for making stuff that we want to to masks. I mean Yeah. We might need them. Most people would rather wear new clothes instead of a mass. But you know we're going to have to wear masks but all of this is a reduction in our standard of living and an increase in the cost of. Oh what are the things I also want to talk about? I didn't put it on my list but I read. That Steven had said something about the fact that he's almost in constant contact with Powell like dogs to thirty times a day or something like that. These guys shouldn't be talking at all. I mean I do not like the Federal Reserve coordinating with the Federal Government. They're supposed to be independent and the reason they're supposed to be independent is because the Federal Reserve is supposed to be a check on the government and I mean there's a reason that there's a Federal Reserve and that they didn't just give the federal government the power to print money. I mean first of all the constitution denied them that power. Which is one of the reasons they had to do with the Fed because constitutionally they would have needed an amendment for the federal government. You just print the money directly although right now no one gives down about the constitution. So I'm sure they can get away with it. But the reason for the independence was that they didn't want the Fed also have hands on the printing press because they didn't want politicians to control the printing press because they didn't want politicians buying boats by creating inflation. Which is exactly what they're doing now but when you have the Treasury Department working hand in glove with the Fed the Federal Reserve is defacto in agency the federal government. Which is not what it's supposed to be it's supposed to be privates supposed to be independent and it's supposed to prevent exactly what's going on right now so all this nonsense about fed independence. Oh we can't violate you know what people were criticizing Donald Trump because he was criticizing the Federal Reserve. Well he doesn't have to criticize the Federal Reserve Anymore. He is the Federal Reserve. Donald trump is not only the president the United States. But he's the chairman of the Federal Reserve Powell. You know he's just a figurehead. He's now just a puppet. Donald trump is pulling all the strings. Anyway that's it for now take care everybody.

Federal Reserve Youtube United States federal government CNBC Peter Schiff Kudlow Donald Trump Puerto Rico president Scott Nations Home Office CNBC Your Leisure Cuny Rick Santelli EU
Biden's Lullaby Presidency and the Paralysis Plaguing the Conservative Movement

The Charlie Kirk Show

29:16 min | Last month

Biden's Lullaby Presidency and the Paralysis Plaguing the Conservative Movement

"This episode is brought to you by our friends. Who can protect your data and anonymous your activity at express. Vpn dot com slash. Charlie e. x. p. r. e. s. s. vpn dot com slash. Charlie protect yourself against big tech of big brother. Hey everybody in this episode. We dive into the discreet. Presidency of joe biden. Is it that. There's a paralysis that is plaguing the conservative movement. We dive into that and so much more. E mail us your questions. Freedom at charlie. Kirk dot com. If you want to support us. Go to charlie kirk dot com slash support. I wanna thank some of our supporters that have generously got behind us. I wanna thank nate from la. Thank you janine. From whitefish montana. What a great place that is charlie. Kirk dot com slash support. I want to thank melanie from greensboro north carolina. Thank you rachel from irvine. Thank you and isaiah from new jersey. Thank you. And finally beth. From mckinney texas generous charlie kirk dot com slash support. It helps us. Grow helps us reach millions of young people. Our mission is to get these podcasts in front of young people and it helps us. do that. Help support our team helps support our growth. We've the best research team. We travel the country. We appreciate you guys so much charlie. Kirk dot com slash support. If you wanna get involve a turning point. Usa go to t p usa dot com. I love hearing from you. E mail us your and your feedback on all of our podcasts at freedom at charlie kirk dot com buckle up. Everybody here we go charlie. What you've done is incredible. Maybe charlie kirk is on the college campus eating. No we are lucky to have charlie. Charlie cups running the white house. I wanna thank joe. He's an incredible guy his spirit his love of this country's done an amazing job building one of the most powerful youth organisations ever created turning-point usa not embrace the ideas that have destroyed countries destroyed lives and we are going to fight for freedom campuses across the country. That's why we are here. I was at an event last evening and a couple. People asked me the same question in the in a different way this charlie. Why is it that people are not resisting. Joe biden like we did against barack obama. Why is it that people are okay with joe biden and his deliberate plunder and takeover of the american economy. And i'm doing thinking on this question because we are not nearly resisting. Joe biden enough. We aren't we are not organizing the same sort of response that we did against barack obama. We have some lawsuits happening here and there. The democrats are in a position especially when it comes to all of their soft money external interest groups that they are completely uninterested in holding the biden administration accountable for things that they want said were important to them for example back in the summer two thousand eighteen democrat activists and left wing activists to the streets all across the country demanding. That kids in cages be released. There were lawsuits filed within the first two weeks of the trump administration against president. Trump's early executive orders on immigration there been no lawsuits no protests and alexandria tells instead goes on instagram last evening. This is what she has to say tape. Well we're talking about it. They just don't like how we're talking about because it's not a border crisis it's an imperialism. Crisis is a climate crisis is trade crisis. This is not a search these are children and they are not insurgents m we are not being invaded which by the way is a white supremacist idea philosophy. She doesn't know of loss of millions. And that's okay. She's very a very big very substantial following. I should say alexander. Ocasio cortez is articulating. Why she's angry at the people that are angry. The left seems completely uninterested in complaining that the administration is actually doing everything on the border worse than the trump administration. But why is it that it feels as if we are slow to move against joe biden. I remember against barack obama was organic. It was real. There was a response. That was unscripted. Patriots across the country rose up and started tea. Party groups. candidates ran for office. Rick santelli famous. France in two thousand nine or two thousand. And i'm reminded by a phrase that stop stints does not matter as much as style and the eyes of most voters you see what we make on of joe biden. Four is actually a winning quality to most voters. The fact that joe biden is kind of sleepy and slow fact that joe biden falls up stairs which is rather remarkable thing. It's exactly what the ruling class wants. You see joe. Biden is like the grandparent that kind of falls asleep in front of the television. At seven o'clock. You're able to do whatever you want. You asked her something say yeah sure. Free money treks. Whatever you what. Donald trump was definitely not that donald trump was the energetic ford thinking opinionated family member who comes in and tells you exactly the way things are going to be done. America was convinced under donald trump. That they no longer wanted to be exhausted by politics. When in reality it was the democrats and the left that we're doing the ones that were wearing us down. They were the ones that were filing the lawsuits. They are the ones marching through the streets. Donald trump was just trying to reform the country. But more than anything else. The reason why we're not seeing this robust response yet nice. Think we're gonna see hopefully soon. Nothing people don't care. And i'm not saying that people are not interested generally we're seeing massive responses and massive crowds everywhere. We go but it pales in comparison to the tea party. Rally in two thousand and ten is a couple of things number one. The democrats are much more sophisticated. They've learned their lessons and they do not want to provoke a response by a charismatic bolshevik. Bernie sanders if aoc was running the country. Forget it instead. The kind of democrat party that is able to execute their treachery their deceit outside of the eyes of the most the rest of the country. As long as you say the right things. And you don't tweet bombastic phrases. The style is actually much more attractive people in the substance. But i also believe that. There's something deeper happening in our country. Which is one of the reasons why the woke industrial complex seems to be growing at a rapid pace. Parents asked me this question. In fact at the event. I was at last evening to incredible people they said. Charlie i want my kids to go to a good school. I want my children to have a nice career. Some afraid to speak up said as long as you are more afraid of the cost then. The action of doing what is right. Then they're going to win. You see one of the main reasons why they have gained momentum and that the left remains in power of our country is that decent people are living rather enjoyable lives otherwise said as there's a lot to lose parents and business owners are afraid of the potential backlash against them. Their children might be called names. They might be picketed and protested. The left has made public examples of people on this. We call this cancel culture but it really is the modern day equivalent of the cultural. Da team you step out of line you are going to have your head. Metaphorically cut off the head is not your actual. it's your career. it's your reputation. it's your friends. it's your social network. it's your fraternity. it is your life's work stepping up french revolution style jackson's. Want to have a go at you. So what does that do what that does is it makes you can form against your will makes you less likely to speak your mind. More likely to engage in indulgent self censorship censorship. More likely to go through the process even though you know what your children are being taught is drivel even though you know like at loyola academy in chicago. They're not allowing turning-point usa group to be formed and they're teaching all the white kids in that school that they are inherently racist through white privilege seminars. Now parents are starting to speak out but nothing will really change until parents are willing to say. The cost is not as important to me as being courageous. The cultural guillotine and the public display of humiliation. A tactic used by every single. One of these leftists and they know it works. The virus has changed so much in our life. And i got a scary crash course in home title theft home title. Theft is when a criminal a cyber criminal is able to hack into your deed without you even realizing the d. To your home if you of your equity in your home or you have your savings in your home line of credit than you better do something to protect yourself against one of the quickest growing cybercrimes in the country which is home title theft. And you could do it by getting home. Title lock at home title lock home tidal lock dot com promo code radio. You're able to protect yourself your family and your home against this very dangerous growing trend. They put a barrier around your home's deed so you know if anyone tampers with it and they shut it down should go to home. Title loc dot com. That's home title dot com promo code radio home title dot com promo code radio and protect your home. So what do we do about this. What we do about the fact that the democrats and joe biden seemed to be executing a power grab a political some would call it a revolution but it's a political plan very discreetly redefining and remaking american their image. How do we overcome the fact that so. Many people are afraid of the cost of being courageous. I'll tell you. I was in naples florida yesterday amongst other places and i went to my friend's grocery store now mind you. I thought it would just be a regular grocery store like jewel osco. You're listening in chicago. You know exactly what i mean. I was blown away my friend. Al folks he has a grocery store that would rival any costco and he has a beautiful sign up on the front of his store. Here's what it says this courage. This guy has come under attack from everyone. You might remember the viral video of all these people executing checkout line and went viral. How on earth could grocery store not have mandatory mask. Here's what it says. Attention customers mask exemption guidelines. Those in our lovely government has ordered all persons entering indoor facilities to wear a mask if you have a medical condition that prevents you from wearing a mask. You are exempt from this order. Due to hippo and the fourth amendment we cannot legally ask you about your medical condition therefore if we see you without a mask we will assume you have a medical condition and we will welcome you inside to support our business. I've never seen a grocery store so packed in my life. Eight thousand customers a day go to a grocery store called c. Heed to tables at the name see table. That's right seed to table in naples florida and it hit me. I said this is what's missing one. Courageous man who opens up a vector and by the way the people there were so happy they were living life they had vibrancy. They were positively. They'd connection they felt optimistic. And it's a micro of what's happening in florida macro a wonderful governor ron santa's so the first thing that is needed is courage alfie was scheduled for cancellation against city state and local county orders and he stood the line and he is flourishing because of it. So that's the first lesson is when you take a courageous stand. You will be rewarded for that. Don't allow other people to say that the cost of being courageous is somehow something to be fearful of their similar to my pastor rob mccoy when he opened up his church fully in california. The other thing is public displays of support now from a purely educational standpoint. This is something that we are doing attorney point. Usa every single day tonight nashville last week. Three events. I spoke at multiple events this last weekend. All across florida outside of turning point next week. We'll be in san jose and that same night brandon tatum. Tommy laron and grant allen will all be clemson university turning-point usa. What we're doing students. We are gathering in organizing the next public displays of support. Where are the other groups doing what i saw at to table. Yesterday and alfie. Incredible grocery store is that we are still human beings that need human contact that needs to come outside of the zoom and skype box. And if we are serious about pushing back against the despotism and the tyrannical orders we need to show them that their shutdowns and lockdowns their orders of intimidation. And the cultural guillotine is no longer going to work us. Public displays support courage building our own things being resilient resisting calls for cancellation against people that are being targeted simply and solely because of their political religious or cultural beliefs. Those things are more necessary and more urgent than ever which is exactly. I believe that president trump should we back out on the road and pushing these state. Legislators in georgia and arizona and pennsylvania wisconsin and michigan to reform their elections and georgia. Did do that. We did an entire podcast on that. It's more important than ever. And i would exploria view some of these other news stories that are happening in the country and how they all tied together but underlying all of it. Is this kind of paralysis. That is plaguing the conservative movement. I'm telling you right now. We have to snap out of it and get back into action enough hoping the country is going to turn around hope not a strategy by now. You've all heard me talk about how. My pillow is incredible. A lot of you are asking. How do i support mike. Lindell will everything. Mike lindell makes his made in america. And a lot of you think that mike lindell is very courageous. And so you want to get behind. Mike lindell and the work he is doing and say you know what mike i have your back. Go to mypillow dot com and use the promo code kirk. Check out on my pillow dot com. Use the promo code kirk. All my pillow products come with a ten year warranty and a sixty day. Money back guarantee you can get a queen size premium mypillow for twenty ninety eight regularly. Seventy dollars and forty dollars in savings. Go to mypillow dot com promo code kirk. If you want to support. Mike lindell and get something made in america. That's awesome mypillow dot com promo code kirk support. Charlie kirk mike. Lindell mypillow dot com promo code kirk. We got an email here. That just makes me laugh. So whatever happened to andrew cuomo yeah. That's a great question. What did happen andrew cuomo. I'll tell you what happened to andrew. Cuomo they're trying the new playbook it's called the good in a row. No them playbook doesn't matter if i'm accused him. I'm not resigning. That's the new playbook. The playbook is tough couple of days and then they'll throw some smokescreen for you know attack a republican for something and people will forget about it. The southern border should be the number one new story in the country. it's been a total media blackout on the story. Parts of the activist media. They're somewhat covering it. It was never about children cages for schumer and for pelosi and for a it was only about hating donald trump and trying to turn suburban voters against republicans. That was the only reason they were interested in that story. If it was about that they would be at the southern border right now with all of their groups. Here's a question for you has the. Aclu sued the biden administration. I'm at a c. l. u. dot org and says support racial justice and equality. And they asked me for some money and they need to go raise seven hundred and fifty thousand dollars immediately and then racial equality can be achieved and then they say we need to dismantle our systems of racism and trans people belong and then it says our rights are asks biden's to do list and then take action. I am scrolling through aclu website. Aclu dot org o. And then it says during a literally says this. During the trump administration we filed over two hundred and forty six losses says right here that the has over one thousand seven hundred staffers in each state. Washington dc puerto rico fighting for people's constitutional rights. Yeah right they don't care about the constitution the aclu is the most projection or anted psychological projection. Meaning they're deflecting with their own inadequacies and other people anti-constitutional group the only thing i'll give them credit for is they have in the past defended freedom of speech that they're even slipping on that says here. We filed a lawsuit on behalf of the sierra club and the southern borders communities challenging president. Trump's illegal use of emergency powers to take taxpayer funds. Congress denied for his border on the aclu website. I seen nothing about the thousands of kids in cages. right now. nothing. I see nothing about how children on the southern border have. The chinese corona virus was silent on that. How about amnesty international. Let's do this together. Amnesty international which another left-wing miserable group on the front page of amnesty international. It says family separation in gijon. We start criticizing the chinese communist party. I'll give them that. Nothing on the front page of amnesty international. Nothing nothing about have whole. They actually have an entire page at amnesty dot org around detention and they have nothing when it comes to the biden administration nonexistent against donald trump. They were marching in the streets and they were clamoring and they were loud. Let's go to cut fifty eight of camera. Harris remember what she used to say about children in cages play. Cut fifty eight this happening. With the detention of these children. The circumstances by which they arrived is a human lights of being committed by the united states government and so we are here to stand up and say that we are not going to allow this to happen. Not on our watch. When elected the first thing i'm gonna do one of the first. Things is shutdown these private detention facilities. Just shut him down not true. Of course private detention facilities still exist more people than ever are in them. The border crisis was created and constructed by the biden administration because they want an unlimited flow of people to come into america how about pueblos sin frontier us which means people without borders based in chicago. They sued the trump administration relentlessly. I'm at their web site. It's all in spanish. I don't speak spanish or read it. Well i took spanish in high school but forgot most of it. I don't see any action on lawsuits or anti biden activity. How about boarder angels. Now why am i going through all these groups. These are groups that receive tens of millions of dollars hundreds of millions of dollars if you count the aclu and all of them were suing the trump administration relentlessly just on this issue. They were on television. They were in the streets. They were clamoring and there is silence amongst all of them. Border angels says love has no borders. what an unwise foolish thing to say probably funded by people by the way that live in gated communities. I think every one of the people that live in beverly hills highland park texas. That voted for joe biden. They should have to take seventeen year old nicaraguan into their home. And that's the other thing not every single one of these people that are categorized by afc and kamala harris. Children are children. Some of these are young fifteen and sixteen year old men that very well might be involved with the cartel. Children are being rented on the southern border and the democrats are worried that we're calling it a surge as said oscar. Escambia a us border patrol. Official this is a longer cut. She tells of the harrowing stories of children being sexually assaulted the southern border before replay. This it's cut fifty four. I want you to remember. The democrats did to republicans for something that biden and obama created the uproar the fervor the fervor the intensity and then after this video i want our team to go find the front page of time magazine of trump looking down at that honduran girl or was it. A mexican girl sang welcome to america. Listen to this oscar skamania. Us border patrol cut fifty four about a month and a half ago. I was talking to one of the little girls. You know and i told the congressional delegation this the same thing right we were going to send her to the hospital and as i got closer i noticed that she couldn't speak and i ask them medical staff what happened and she's the reason she was going to the hospital because she had gone gangrene and the reason that she couldn't speak because he had lost her voice in the process while she was getting rape. Those things hit hard these kids cross by themselves. Obviously the parent pays a fee to the smuggler. The cartel member or the smuggler. At this point. We'll bring the kid over. We'll bring them to the river will hand them over to to to the rap you'll place them in a rap and say okay go when you get to the other side. They'll explain to them. There's going to be an officer. They'll explain what we were and tell them. Turn yourself into them. These kids some of them will tell you the different stories. They'll tell you that they don't have their parents. There's a little girl that i talked to a little while ago. She said that she had lost her mom and that she doesn't have a father so she's coming into this country because her uncle is going to be the sponsored so they want to take this. This little girl is going into the states. And i ask. What state are you going to. What's your final destination. She said. I don't know all i know is it. It's there that's all i know. That's just a small snapshot of what biden and camera harris have created on the southern border. And every one of the well funded outside groups that are supposed to for a living demand outrage and mobilize grievances against this sort of activity is silent. Amnesty international border angels world without borders every single one of them received tons of money from brad. Pitts of the world and george. Clooney's a world mapping. Remember this cover of time magazine. Welcome to america front page of time. Magazine and the story was a reckoning after trump's border separation policy. What kind of country are we by carl. Vic says trump's brutal gambit at the border reflects a president uncomfortable with ideals. Now the people that write these articles never so outraged about donald trump. There is no other word to describe them other than pathological. Not just a pathological liar. They're they're pathological in nature that you could be so outraged for so long about a specific issue and now that issue is exponentially worse and there is no backlash whatsoever against it zero nothing no lawsuits no protests. What camera harris doing about it cut fifty seven. Prepare yourself for the cackle. Play tape not today but Before traveling again the constitution was written for people like kamala harris. The only reason that we're not the only resemblance hit one of the few reasons we are going to survive is because of the us constitution. That's why they wanna put it through a shredder. And then that's why they have groups that pretend to protect the constitution like the that actually want to destroy the united states constitution as we know it and the aclu which says on the front page of their website that they filed over two hundred and forty-six lawsuits against donald trump two hundred and forty six lawsuits against donald trump. And nothing about joe biden. Nothing not a complaint. Not a gesture not a sign. Nothing same with amnesty international and every single one of these groups and it goes to show and this is something that you must communicate to all of your liberal friends and your democrat friends and go back on their instagram feeds. Go back on their facebook feed when they were virtue signaling their posts on social media trying to say. I'm such a better person than you are. And we gotta get kids out of cages and now they are silent with their. Blm love is love. Where are the squares on instagram. Everybody people stopped caring because we have the old bumbling grandfather in charge the lullaby presidency. The never actually cared they just hated donald trump and they wanted to say they were better person than you. Thanks so much everybody for listening. Please consider supporting us. Charlie kirk dot com slash support. God bless you speak for on many of these stories and news. You can trust good. At charlie kirk dot com.

joe biden charlie kirk charlie donald trump biden administration united states Mike lindell Kirk Charlie barack obama aclu Charlie cups Ocasio cortez paralysis loyola academy florida joe alfie Rick santelli ron santa
Outdoor Dining? Forbidden! Indoor Big Box Shopping? Encouraged! Insanity!

Ron Paul Liberty Report

33:00 min | 5 months ago

Outdoor Dining? Forbidden! Indoor Big Box Shopping? Encouraged! Insanity!

"Hello everybody and thank you for tuning into the liberty report with us. Today is danielle mcadams daniel. Nice to have you with us today even though you are remote but you've joined us and we're good to see you monday. Dr paul okay good. We lost to talk about today. It seems like the problems we think we saw them. I'm just kidding of course but the problems keep coming back but they they morph into other things. Those some of the things we've talked about there's a different Different picture of what is happening but we frequently we'll pour not to really bad example and the good examples and try to get a handle on this and of course we saw lead toward the fact that maybe there there should be more science in involved in this but there are a lot of variations of when she talked about science. who's science. is it political science at that. we're we're talking about. Just how do they come up with this and How we get to the bottom of it but there was the case out there in la that got my attention to the attention of a lot of people in this country and it was a woman that had. I think it was a bar restaurant that she had livelihood. And i watch her on tv and it was a really tragic story of Of what she lost and what she couldn't do and they just literally was just sort of getting over the first lock down and its us getting your and getting ready. And then they come in again and arbitrarily. She fell into the category of. She's a dangerous person and we have to close it a small little shop restaurant and And yet one of her arguments. Which is very appealing to anybody with a even a small conscience in that is why are the guys. Get away with this and she made the point. You know people nearby Are in big big box. Companies their exam but in this case the close by people who are with people in hollywood so they close her restaurant down and other coming down lockdown. And what did the government do the governments you know. They protect our liberties. Sometimes they missed the vote but with the they did they wanted to make sure the people in hollywood had their restaurant so they put up a nice big tent forum and provided the facility and they qualified for daniel. There are some of these things that are so outrageous and the anger is growing. Which i think we have to make a healthy anger so that they know they're angry at some of the really wicked things and that they know what the option is. The alternative is and of course. It's getting rid of this authoritarian attitude. That government knows best. This is angela marston. her name is and she's the honor of the pineapple hill. Grill and saloon. A small restaurant as you mentioned and they barely survived the first lock down in california which obviously didn't work because they're trying it again but what she did in the meantime. She invested a lot of money in outdoor dining heaters intense and everything. Because somehow you can't the corona virus if you're sitting in its outdoors but you can get it if you're sitting indoors. Whatever she tried to play the game she tried to play by the rules. T desperately trying to survive. She's got a lot of people whose livelihoods depend on who worked for her. And what happens. A california's governor the la mayor garcetti. Who said quote. Cancel everything that was his quote there in full on panic and so they decided arbitrarily note can even do outdoor dining. Forget about distancing spacing. Forget it you can't do it. And so she's completely crestfallen. Should the video as you say was very emotional. She looked literally. It's like adding insult to injury. While she was being shut down. Despite following the rules she looked literally across the parking lot and they had set up a huge tent for film crew to have their outdoor dining which was approved by the authorities while she was being shut down. And this is the kind of stuff while. I'm looking a lot around california. I'm listening to a lot of talk radio which doing what. Tv doesn't do. They are really really furious and live. This is the kind of thing that has california so on edge. It's such a tinderbox That this kind of hypocrisy and just flat out to normal people. Sometimes they hide behind science. There are either on the side of science. He's people who are really pushing the lockdown and other people. Who have. I think a better understanding of science can point out that it doesn't really work and i think we've quoted some of these Stats on Studying on the mask the mask really saves nobody's lives and yet it's intimidation. Its submission has all this ramifications From this but you know There's a person well known on. Cnbc this financial station. Rick santelli one of my favorites. I've met him and he's true and honest what he believes in and he gets it in cross ways with the other commentators and he was on again a couple of years ago. He was on one where he went on to. Iran was one of the biggest things ever hit the internet. But this time it was with another member of the of the panel sorkin and The big argument is of took the position at santo. He knew nothing about science. And he has to be both you bear to on and do with an op criticizing. So they went back and forth and back and forth and i think the big question is and I heard daniel. You make a comment. That just who. The american people are going to identify with. I know who identify with that argument. And all that rage that went on. But i'm hoping that Your suspicion is that there's going to be a lot of other americans are gonna densify with rick. Santelli big blow on friday to up capaldi. The has screaming matched on tv and it was really played over and over and again as i say the talk shows down here in the l. a. area. They are eating it up. And because essentially of a sorkin basically when you don't have an argument you just screen. It's science science scientists like if you were trying to force your religion on someone else. So this is the truth is the truth in santilli. Call him out he said. Hey what are you talking about. You say you have to close churches. You have to close restaurants. People can't do any of these they wanna do but somehow they can go to walmart they can go to target. They can go to these huge stores which by the way are recording record profits amazon record price but people can be indoors crowder together in walmart. But they can't be outdoors. Stocial distanced at the restaurant and let science science. Well sent jelly investment. Is our friends zero hedge appointed. There've been a lot of backlash against sirkin for what he claimed for his arrogant. This is a public service announcement To everyone you've got shut everything down except the big welcome at the source. So i think this kind of poppies cruelty really is catalyzed. People and making them really angry and really question even people. They're trying to do the right. Even though you disagree because the idea that somehow you can catch it inside but not in a tent outside is for anyone with a brain is insane nevertheless this whole idea that you can't go to church you can go to walmart. Which is what. We're seeing here in california. The places are going to say. It's just not flight assigned people are in no mood. You know it it to tomato shows that these people that go back and especially the ones that are promoting lockdown. That they don't have a philosophic anchor anchor. They just do do what they think is important and politically speaking. And they do that. When the lockdown they pick and choose they pick bars You know to close down and put pre churches to close down but you know the big corporations get to stay open so then that is what happens in a. It's really a mess because most of what goes on in this whole thing has know not very much to do with science. I think they convince a lot of people. And you can't win the arguments and you know most of what you're hearing about on the virus is not very scientific and they they they don't have any position to steal with. They don't have the thought that will. Maybe maybe this will work out if we if we believed in inland in liberty to solve this problem but saw one. I found a little bit of amusing because it shows the mixture of what happens when you have no anchor. No personal belief on what liberty should be all about. The you know for years now. They've regulated at the federal government. We have federal laws and courts. That says you can't smoke in certain area. Which is health wise is not a bad idea. and Of course a libertarian. Would think about yes regulated but do it through through private property. So they've done that for a long time and they were working on some regulations in this lockdown business on what they could do in this one facility they say no you can't smoke here Tobacco is bad for your health. But marijuana's okay. so they they. They made sure that they may legalize as a sign of the times. I guess but they never dawned on him. Maybe these choices could be worked out. You know the scientific choices choices and whether or not you can keep your church over. And who's taking the risk that not in this discussion at all and yet it should boil down to all. Life is taking a risk every decision we make there some risk involved and who should make those decisions should it be the The radical laugh to wants to socialize and and institutionalized communism and fascism or should it be people who have Promise they're never going to commit violence and let them work out the problem but no instead we have this. So there's some places. Daniel better be careful if you wanna smoke your cigarette. You won't be alive but you know you're allowed to have that other stuff. Yeah a lot of that in california. You know a lot of libertarians argue. Even dr paul These businesses are perfectly find demanding mask mandates and all the things that are demanding on people. Because they're acting in a private capacity but the fact of the matter is that is not correct because what they are doing is they're enforcing government edict adding government agents in one good piece of evidence of that is every time you see a mass mandate sign on. A story always references. Some bogus government. Edict was not passed legally. It was just handed down by some authorities so the idea that these companies are acting on their own a as a as private companies and not doing the bidding of the government simply isn't true. You know when i went into a store yesterday i had of to get a a suit coat and the people started yelling. Arkin you've got to get out you've got to get out. Where's your mask which amass on nobody can convince me in the real world. If i walked in there was a wallet full of money. And i wanted to buy it coat that they somehow would not allow. Their businesses are treat. Customers outweigh so. I really reject this argument that these businesses are acting in a private capacity. They're acting under the duress of completely insane. Power mad officials who capriciously will shut down businesses for the very slimmest and slightest of perceived violations. You know the planner the people who want to run our lives and running a call and everything they come in you know with studies and they have statistics and it's the same kind of statistics that they use in political campaigning. And they're distorting and there's so much lying on but In this case the the testing is done for the purpose of biasing statistics. So if if all of a sudden tamara it's discovered that maybe that that the virus is difficult to identify. They can't be absolutely positive that they are now measuring fragments of viruses that are capturing r. n. a. and they've never done that four before to devise a vaccine and that The they have a lot more questions than than answers. But what if it finds out that the test they run is totally land. Reliable and more more statistics are coming out. Now that you know somebody came told me the story the other day. They had a friend that did this and he took they had four tests and eighty four people at four tasks and they were all positive so they went and had them the test down negative and they were all negative. And i think it's understandable because test is unreliable. The politics is unreliable. Makes a whole mess of it. That people do so. I think there's more stuff coming out now on the On the tests and That it is totally unreliable. Us away is run if you keep looking long enough and go through the cystic threshold. Cy cycles that you the longer you go. The more negative in the false positive. You're going to have so. They just run them longer. And all of a sudden they get a lot more positives and all of a sudden it falls into place for. It's an another emergency. This is worse than ever. but they won't entertain the thought. Well maybe total deaths in the country having changed in. Maybe it has something to do that. We're in the flu season. Who knows what but everything is all the things. All the staffers to show that the pandemic is worse than ever in. They never can attach this to really literal danger to a lot of people. Yes some people is very dangerous for but we know about that. We know about Khobar bid it is the elderly and and we know how safe it is for people under twenty or under forty but that's totally ignored. They have to wear the masks to but this is testing is breaking out now and in the test or unreliable on has been suggested that if no matter who takes her orders attest they should ask the question. How many cycles of threshold have gone through. How long did they search you know for a fragment of a virus to me. Give me a positive tests. And nobody's ever brought up until a month ago and now they're starting to talk about and guess what daniel is another good news. There's one st now is an that they wanna know before the tests are given on everybody. And that's florida so florida is you know. Opened up their state. And you don't want to be directed by false testing. That goes on. But of course you know daniel if you agree with what i'm saying we're both in big trouble because we just don't care and maybe we care a different way. Maybe we really care. You know the real weakness at the heart of the entire lockdown his argument two things one is the so called science. That masks in distancing work which has been debunked certainly danish study and others have done that but the other real one is the pcr tests and that is critical if that is debunked and it should be. It should be today Tomorrow yesterday that really takes the rug out because as we've been saying for months as others have been saying For a long time. We're looking at it. As a case democ not a pandemic. It's a pandemic of so call cases never in history Did you need a test to find out. You had a case. Even if you weren't sick but you know there was a good piece on europe ahead which we to read which talks about this issue of side will threshold. Which is how many cycles. They go through to magnify fragments of rn. A to determine whether or not enough is present to constitute a case and the the testing centers are not collecting the data about how many cycles and that is critical. Here's a couple things that the article of from zero hedge pointed out the wadsworth center which is a laboratory in new york. They analyze tasked with thirty five cycles and they said that half of those be false positives if they ran at thirty five cycles the infectious disease society of america found that only only twenty five cycles of amplification. Seventy percent of the cases were not cases because you couldn't culture any virus from the aren a that they had multiplied and and and and and put together even at twenty five. So what they're saying is it's not a positive test. All is doing is finding some rna that they keep magnifying in duplicating so without the critical number of how many times they are amplifying. This little fragments showed rna. We don't know the most important science wishes. Is someone going to be sick and is someone going to be infectious. And that's why it is good new. As you point out dr paul in florida that they're flying the first state in the union saying hey you got not only from port the result of the tests you have to report the threshold the number of cycles that you've gone through to amplify these little fragments of our name the backs of people's noses sorting all this business out and finding out who's sick who isn't it. What is the significance. is difficult but i think the motivation isn't to get to the truth. The motivation has been quite different. It's several different groups. Some might wanna make some money on someone. Chaos for political reasons. Some people just want to do it because they hate republicans and trump and they want to embarrass him. He goes on and on is being Being scientific ache is is something to be a challenge. But that's a difficult thing we have to handle that we gotta make sure. There's no scientific of of what our opposition is saying. So this is this is going to get more complex because the vaccines have started in the vaccines are not going to be without. Complications sometimes will be mild effects. Some are going to get very serious. They don't know what to expect. They haven't done that much testing. And it's gonna take a long time for them to know about there but there will be people who will be worried about this. They will have subjective Reaction they won't they won't even be something that is actually physical but there could be some physical changes somebody gets. A vaccine could have fever and different things they could actually have some mild symptoms of of the flew flew itself. And of course this is all mixed in of the problem that we have sorting things out about the damage and the danger of the of the virus. And that is the lockdown. Most people now realize the lockdown is much dangerous than the virus itself and. I don't know why they can't just let people decide which they like. I'll take. I'll take my chances with that. I'll take my treatment with with the virus and I will lead lead my life but not just the totally destroy the concept of of liberty. But we're we're at a point now. I think this is getting worse all the time. There's been such tragic stories revealed of some of the television station in the is the people who are taking care of small children at home and might be a single parent who had to quit their jobs or home with the kids and the kids are becoming psychotic. And there's more psychotic is the right word. Because there's there's more more people committing suicide so this mixture of all the virus which is probably the least dangerous of of the whole thing. The lockdown is terrible. The vaccine is going to be difficult to to figure it out and then the politics of it all and the financial benefits some people. This is a mess. I imagine when this history is written this past year. And it's going to continue this one. This you could get worse which would be a real tragedy. But i'm predicting that people are gonna wake up but this this is going to go down in history as one of the most confused dangerous thing that ever happened with the pandemic of a non virus you know radical reaction to it But i think. I'm very much motivated to do my very best to find out the truth about these things because it's out there. There's a lot of smart people that are talking about this and writing about this and the message has to be spread in the nest. Risky there to because right now the majority of the american people probably are on the side of well. If you see your neighbor not wearing is mass. When he's in his yard we're going to turn him in. Call the police so but even though that may be the case that there's more but the numbers are growing people saying enough is enough and there's a lot just waiting there for a little bit of courage. So i pray for their courage to come out and tell the truth and the thing is dr to paul. We're not denying that people are getting sick and dying. So they can't put us in that category. What we're saying is the insanity of this one-size-fits-all when we actually do have science. We know how many people died from this. Under the age of fifty even and it's miniscule. So why have this one size fits all approach on you can do. Like the great barrington statement. Where you do selective protection of people from vulnerable categories and. Let everyone else if they choose get on with their lives and start living normal again but not what they're doing they don't wanna let go. We see now that the cdc wants the issue a pass or a card of showing you got your vaccination against this and that car is going to be like an internal soviet as or if you don't have you can't moving already ireland in candidates that you don't take that shot you're not going to be able to move around a lot so they are not going to lighten up. They're going to double down on the tyranny but we know for a fact and here's actually interesting study. That was looking at earlier. Dr paul very large study at the indiana university. They studied seventy thousand students odyssey about their positive tests cove. This is dr landed System professor of clinical medicine. Here's what they've found with these studies. What we've found is that actually the more in-person credit hours a student has the less likely they are to test positive for covid nineteen so many young people who don't get sick out of their dorm rooms outside in the sun. Interacting in classrooms. They actually surprise. Surprise are healthier than the people they're locking into these dungeon saying oh we gotta protect you. They ended up getting even sicker. So why continue with these approaches. That are counterproductive right. And then have a comment from you about atoms adam. Dick worse with us on the institute. talks about the football team and understand in that article he He talks about Who was positive in and whether they were authentic but evidently the football players even know teams are just locked down all the time that most of them don't have their in one of the safe category but What what was this thing. That adam did that they. They had some positive but they weren't really positive. It's really interesting because if you think about it certainly governors an all these penalty. Dictators have no incentive to give people their freedom but the nfl has enormous incentives to track to find out about the virus. Because if they have people that are not eligible play if they get sick then they're going to lose some their best player. So they have a big financial incentive to really be on top of the actual signs in a road pieces. On the ron paul institute dot org website about what's happened in the. Nfl is kind of interesting article. Yesterday was written seven. Kansas city chiefs players tested positive so they spent five hours tracking and tracing contact rates. Everything and then. They went back and checked again all seven. One hundred percent of them were false positives and that was not an isolated incident. The indiana colts had four positive cases. They went back and tested. All false positives so the fact of the matter is that this case democ which is feeding the hysteria feeding the lockdowns because of the lockdowns is based on very very unreliable data. And that's all we're asking for. Let's talk science okay there. It's not it's my science versus your science is what the the people like us. Orchid in the others are saying you know when they offered this test for free you know. I'm amy. thank you know when something is free. Might not be worth a whole lot. But they lined up thousands of people lined up because it's a free test and it looks like you just made strong point that. How much is it worth getting a free test. I don't understand why people if they understand. I you know if the story about how dangerous the virus was That's that's a little bit different but that isn't the case but they they They are sort of like mob psychology. I gotta get my tests. That god i get my task and if they'd read more stories about this how many false negatives there are now. They're understanding the whole test process. There's gonna be a lot of people that should wake up from this the I wanted to haven't won more stories daniel then we can sort of wind down but that has to do with what's going on in chicago Nobody's surprised that there's a lot of violence in the streets of chicago and the black lives matters very much involved and and there's tremendous amount of harm and injuries. But they have. They've had that type of thing in chicago a long time so Even before black lives matter existed and even before cova it existed but with the lockdown. I'm with covert in and black lives matter. It's it's been a really really bad problem and So speak with all this violence. One thing the The politicians thought. Well i guess we have too many policemen so we need to defend the police. That ought to help so Of course it didn't help and things got worse but they have a statistic out on this on chicago that if you're in chicago you have a twenty three times. You're twenty three times more likely to be killed From guns then from cove and yet all the here's theory is over cova. And of course they might. They might come back and say that well. That's the trouble is we. Don't take enough guns off the street. But i tell you what It it isn't that a gun that killed the violence that you know. A political system creates and the fact that people think that The politicians endorsed this violent. They can tour tear up a city and break the windows and steal everything and there never stopped what a tragedy it just goes to show that that mayor lightfoot in chicago and many of the other mayors of these little towns. They're very good at barking out orders. That hurt the average people that try to be as law-abiding as possible when it comes to actually running things they're completely useless. Hopefully more americans will come out of this. With at least libertarian. Leg feelings these people. They're not qualified to run it a fun to run a dogcatcher outfit. So it's it's really. It's really bad but i would just closed occupied for ready with a just a mob stations. I do in my my time here in california here for a few more days. I try to look at what's going on and i think as i said earlier. It is a tinderbox. Will you have the talk radio on one pan really a lot of them going against totalitarianism this emerging but then you turn on the tv news and it is relentless. Every story has a cogan angle from shopping to christmas to everything has a covert angle but people here are fed up and i driving around a little bit. Looking around is not scientific necessarily but it's observation more and more signs are going up in people's yards on the side of the freeway there homemade signs recall gavin. Newsom recall the governor. They say whether things about the governor. That i can't repeat on the family show that we have your doctor paul but it is ground swell and i'm not saying it's critical mass yet but people are fed up and getting active. And i think that's a good thing i hope there's more and more of it wonderful. You know. i think the basic problem is is that people have given up on assuming the responsibility for taking a risk. Freedom is all about the permission for you to take your own risk in what you do with your life. You own your life and you should be encouraged to take care of it. And you're encouraged to get rewards that are benefiting you and your family here occurs friends and it's not something that is turned over to the government and the government will tell you how to be perfectly safe now when you think about what's going on this particular this last year the government is spending not billions trillions of dollars to try to make a safe from a virus. The people to scientists are honest. Scientists had strongly disagree with each other. That said that this is not a dangerous virus. And that's not not as the point so and yet you know you know financially. The government takes over The crisis was built because of a terrible terrible monetary system by the federal reserve. So there's a lot of tragedy lot of unemployment there and the only thing is a lot of risk and we just didn't have the best manager. We need better managers of the money system better manager of the budget so we don't get too much debt and all the things they go on and We just need people to assess these risk. And then we'll take care of people and and it's it's sort of the way people live now as soon as there's a crisis it's what is the government going to do. What are they going to send me the money. Was this well that that is a society that doesn't work because it works on the short run. It makes people feel good. Politicians feel good they might even get reelected by doing that but eventually quits with a bang and a big bang. And that's what i fear because we've history has shown that people never go through cycles like this that think that they can take care of. Everybody controller assume risk for everybody. Tell them what to do what they can read. And i we even reading here about book burnings and that it doesn't end well it ends very badly and It it's sort of the opposite of what had existed to some degree in this country and what merica was all about. So it's going to be a test of will right now because we see some good things happening. We see people waking up and we see people resisting all this and yet we see others who make a lot of noise and they wanna punish people. Oh yes you know. They're not going to accept the principle. Well if you think is dangerous out there where mask and somebody else do it. Oh we have to make somebody else do as exists. There's gonna be a lot of conflict but as the this solution is not complex. We just have to have a better understanding of how beneficial it is to live in a free society where individuals are recognized as the spot where people make decisions and decide for themselves what they think is best for them and their families want to thank everybody for tuning in today to deliberately report priest. Come back soon.

dr paul california daniel walmart danielle mcadams sorkin angela marston mayor garcetti capaldi Stocial jelly investment sirkin hollywood la Rick santelli santilli Santelli wadsworth center infectious disease society of Seventy percent
Americans Dont Just Shut Up and Take It | Guest: Rob Eno | 12/7/20

The Glenn Beck Program

2:01:38 hr | 5 months ago

Americans Dont Just Shut Up and Take It | Guest: Rob Eno | 12/7/20

"The qualcomm we believe in staying connected and you can see us wherever five g is helping transform telemedicine supporting remote education empowering mobile. Pc's the invention ages here. Learn more at qualcomm dot com slash invention age. We want to tell you about real estate agents. I trust if you're looking to buy or sell a home. You need the best person On that splits possible on your team as a real estate agent. No i i got a Got a cousin who's got a friend who has a neighbor who whose kid flunked out of college. And he's going to go into real estate cousins friends the neighbor's kid. Yes that is the secondary way to go for real estate talking about. He's good he's greats. Listen you need the best agent real estate agents. I trust dot com. They will keep it moving Make sure that your moving make sure that you get the best price for your house and the best price for the new house if they're in different cities we've got you covered you. Can you can just contact us. Tell us what you wanna do where you are. We'll give you the best agents in the area. It's real estate agents. I trust dot com. That's real estate agents. I trust dot com. What you're about to hear is the fusion of entertainment and enlightenment. Proudly if you saw this rick santelli is back. He is the guy that i credit with. Starting the tea party. He's the guy who was on cnbc and he's like why i mean. Why is this happening member from the floor of the chicago stock exchange. Well he's had another moment and this guy just has the right read of the room every time and he was passionately standing up against another closure for covid nineteen. We begin there and the wreckage that it's causing in sixty seconds is the glenn beck program american financing and mls one eight two three four www dot nmlsconsumeraccess.org of yana home but haven't refinanced during the past year. What are you waiting for. what are you waiting for. Zero negative interest rates. That would be nice. Wouldn't it you imagine that that's happening in europe now. Negative interest rates. They are actually paying you to borrow money. Holy cow like that. Of course it doesn't end well. Predatory predatory loan techniques. Call that at the end predatory they were they were they. Were making it too good of a deal right. It's the central bank. Doing all right so refi right now and get yourself out of the situation of paying high interest especially with your credit card. It's insanity twenty twenty was crazy. They're offering these crazy rates. Osei jump into the crazy pool on this one and don't just spend all of that extra money save that extra money and get out of debt right now go to american financing there waiting for your call at eight hundred nine zero six twenty four forty. It'll take you ten minutes to figure out if they can help you or not. It's eight hundred nine zero six twenty. Four forty or american financing dot net. Doesn't feel like christmas often. Yes oh you can't sit on santa's lap kit nano even though that santa is about Twenty seven years old wearing a fake beard. Smells probably of beer. From you know the party that he was out the night before and you as a kid really can't get cove vid if you do. It's no big deal. Hey you can't sit on santa's lap. And i think we all understand why or not going to do with covert right. There are a lot of things going on now because of covid and in california things are starting to melt down. I mean meltdown You have the founding fathers of silicon valley now. hp is the is the latest Hewlett packard is now thinking about moving to texas and is moving to texas. Hp from silicon valley and they say they're not gonna fire anybody that means a lot of these people are moving here. Stay out of our state. We've got cove. It were riddled with covid. Here stay out of our state because this is what happens. Is you move these giant companies. And it's it's great and the the the governor's say look we've moved all these companies to texas a shows were doing the right things and that's true right and that's why this is happening. However then all the people from this companies who've been voting the wrong things in their state come here and vote for the wrong and they're also arrogant they all. They're all convinced though. That's all great. Scholarly gray does not our policies that we been voted threat california. It's well it's not our policies in california so You know our t shirts are for sale. Perfect for christmas. Don't california mike. Texas and the other one is don't new york mike florida because goldman sachs is now moving to florida if goldman sachs moves to florida outside of new york. It's over eighteen percent of the revenue that new york city makes comes from places like goldman sachs all the big bank headquarters in and wall street. You start getting rid of wall street and you get these big firms to move out of new york. You got nothing left to know you have escape from new york. That's what you have ads. Which have meisel. Just put a big huge barb wire fence and make it into a prison does what james has been saying and he's big new yorker. He owns a business in new york but he hasn't been saying get into prison yet. Okay all right. He's he's making the points lead others to say make it into a prison. Yeah but yeah. I he says is basically already over for extended periods of time for new york. I mean there's there's all these reports today about. How all these places that depend on mass transit g would you put new york into that category are had to make all the mass transit is making such massive cutbacks. That even if people decide they want to come back to the city there's going to be nothing to bring them there. No would you. What would what would make you want to go to new york. Disney could take it over remember. Disney was part of the turnaround for times square. It was rudy giuliani. That said hey we. Hey though what you do is You're going to be moving some of the disney stuff up to new york. You know what i'm saying and they did it. And that was the beginning of the turnaround for new york. Then see if this if you notice a pattern here then Rudy giuliani for nine. And everybody was leaving new york. He said look. Tell you what you're gonna do. You're gonna stay in new york. You know what i'm saying. You're gonna stay in new york. And he made some deals to make people stay in new york. You don't have rudy giuliani to kick around anymore. You don't have you don't have goven irving a mayor that is saying look goldman sachs. You're going to stay in the org. You hear what i'm saying you don't have it. Yeah you've got De blasio and cuomo saying they should love it more. These bastards aren't loving our city enough. Well first of all. It's because of you right but how dare you. How dare say it's us. I got the t shirt that has a little hot on it by the blade by our rules. We might take you for a swim in the north river. Westward e scriven almost never been to new york city. Doesn't know but yeah no it is a it's i would say it's a really scary thing because forget even the people who are just leaving right. These are people with a lot of money and remember. If you're in new york and you can afford to live in new york likely you can afford to live a much better life in another city. You have a home. I got you. You can't say california You wouldn't believe what you could get in places like oklahoma for the for the story for the same money you sell your house just with what you had in your house in places like kansas and definitely not texas or florida. What other states do we really really like. We don't like oklahoma or kansas. Wow i'm there okay okay. I think they're okay. Yeah it in north dakota place. You oughta go to have too much oil there. They'll stop. canada is awful. This time was gonna love you. You know what is true. Yeah they're gonna love you there. Everybody's always are going to move the cannon out that go move to canada. You'll love it in socialist medicine. You got trudeau running the place. It's fantastic for you. Our friends and listeners are in candidate. Don't you dare faster here. Displays up even worse but think of the new of the new york city situation with the giant tall skyscrapers filled with companies. That no longer invite their employees to come to work now us. Please stay at home. We don't want you here now. Obviously you could make the maybe when cove it's over. Now they're just gonna invite all of the men why why would they have all these expensive leases in new york city when their companies are working as they are realizing that if they just sell those big skyscrapers or just get out of the lease at some point. The money that they save on those offices just let everybody work at home. Fifty percent of the Of the average business but you know in one of those skyscrapers can do their work for home and not a not. A minute is is wasted nods. You don't skip a heartbeat. Fifty percent can stay home permanently. They say those cities are dead. They're dead in california in two thousand sixteen. They had a mini exodus. So now the results are in the companies that left california in two thousand sixteen pulled seventy six point seven billion dollars in capital funds alone out of california's economy. Seventy six billion dollars. That's in two thousand sixteen. I don't remember a big exodus in two thousand. Sixteen to you i mean. What is this going to look like in california. They're just they're just they're just getting worse and worse they're getting more and more belligerent. It's still anecdotal at some right now. But i know personally tons and tons of conservatives who lived in places like california and new york that are leaving but also lots of liberals who were like you know i mean. I understand what they're trying. I just can't live like this. You know it's not even it's not even a an ideological thing where you'd think okay we'll conservatives don't like the shutdowns or whatever it's there's no longer a benefit to live in the cities no the appointed knows if you want population density and you want incredible restaurants in incredible Cultural events. None of that stuff happens anymore. All the restaurants are closed. All the see. All the plays aren't happening. None of the concerts are going on. He's all the benefit you can't go into a you know you know. They're these bars in new york. Where you take your step down below the street level and you know what. I'm talking about glen. Who is an alcoholic. No as you were person who loves new york and the rt architecture. All these places are just like dank basements and you go down there on a wednesday night and it's the it's packed with people in there all the best looking people you've ever seen in your life. Yes so here's here's the thing though shouldn't go away because we have found out if you walk into a restaurant you have to wear a mask because because the virus stays high. Oh when you sit down you can take off so if you're in the basement Co feed cannot go that low really. Yeah yeah heard. Excellent yeah just like the atmosphere and then there's this lake about five foot atmosphere as cova starts to go down at burns up into that last atmosphere. Well i know when your is on fire they say get low yip pack stop drop role and then crawl out. That's an touch all doors to see if there ought they should put you on the cova task force right now. Oh wouldn't that. 'cause i give them that same advice. We're going to show you some of the people that are really been affected In california that have had it. I mean there is a revolt in california really. It took losing your outdoor dining to revolt everything else. That's been going on the only you do we. Hey man we can't like sit outside and eat who. This is like a gulag. That here in just a second i are. Commercial message is from carshield starting to get cold now. That winter is here. My car is overheating. How's your heating. When it's cold outside. it should been summit anyway. My car is overheating. And i don't really care. Don't care at all. don't carshield there is. I don't care how wealthy you are there is. I don't think warren buffett. His car breaks down. And i don't think warren buffett ghosts. Oh that's all right. Bring it into the shop. Tell them to spend whatever they want to make more no matter how much a car repair is never ever wanted. 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Did you see ted cruz. Ted cruz out hunting Think over the weekend posted a photo with him and a deer. The deer was not like. Hey we're just hanging out over. Ted cruz blaetz. He hunted and killed the deer and they have gone nuts. It's a beautiful animal. Let's kill it. You're not a human being cruise. you're a human shaped pile of dung. Because he killed a deer really. I got news for you. Move out of california and you're gonna start hitting them with your car depending on where you're living. I warn you to it. Might kill you with a friend of mine Hit a car. Hit a deer on a new new jersey highway going like our vacationing. What's what's it vacation did have business to do. Why was it in new jersey. While the year the deer nathan that part of the country not good. People don't realize that in between atlantic city and liking canton canton The what the heck is the name of that city. There's always burning to the ground. camden thank. You guys in canton. Ohio the the hall of fame camden in between camden and atlantic city. There's like this green stuff all over the place so we heard a highway blur as you're going to gamble. We'll hear that part of new jersey is what confuses all new yorkers. They think that's like that. They think that they'll meet lewis and clark. Yeah they're a. We're at the end of civilization. America gets spooky. He from here but a friend of mine. Hit hit a deer at about eighty miles an hour. He said it pretty much just exploded when he hit. It really almost died. I mean they know they'll they'll you can easily kill you. I mean there hugh if you hit a moose imagine hitting like like a really extraordinarily huge moose like three times the normal size that would really kill you and probably everybody bind but you kill you. Hit a deer and it's it's bad well anyway. He didn't hit it with his car. He went out and he was an all of these lefties in texas. Come to texas. 'cause we're hunting here we we haunt. It'll drive you out of your mind. Californians don't move to texas. I'm just say we need to promote this suspect. Look the problem that you're gonna have come in from california people just firing weapons at all over the place. Is you're constantly stepping over a deer. Corporate elephant lions the lions were killing lions left and left it right here. Don't look into it. But i'm sure it's me Okay so i wanna play angela. Marsden she is the owner of a restaurant. Who just can't take it anymore. She's in los angeles. Listen i'm losing everything. Everything i own is being taken away from me and they set up a movie company right next to my outdoor patio which is right over here and people wonder why i'm protesting and why i have had enough. They have not given us money and they have shut us down. We cannot survive. My staff cannot survive town me you that. This is dangerous per right next to me as a slap in my face. Oh my gosh. Unreal ole my. Gosh that's safe. This is safe fifty feet away. Unbelievable pissed off. You can't if you happen to be in your car. She shows an outdoor restaurant that has a tent and the tables and everything else and then she says and then over here and she just scans over to the parking lot right next to the outdoor dining that she has and it's a tent with tables it looks exactly the same except it's four times the size right and this is so because i am the worst part is like let's just say i don't know they were the people making the vaccine and they needed a place to eat while they were in the middle of making the vaccine. Okay okay well. They need a place to eat and they did it outside and that would be really frustrating. The fact that they're making a stupid movie a stupid movie is why they're shutting their that to happen. You know why that is because the movie industry is too important to essentially important. It's an essential thing this is happening now. In great britain they are now saying that. You know you can't come into great britain and you have to quarantine for fourteen days unless you're a big finance person or in lasts you have big company business to then you can come in not quarantine and fly right back out and everything is cool. I mean they are killing all of these businesses but when it comes to the big businesses. They're totally fine. This is not america. america was built by you. It was built by and for the people not these industries not these people with special connections but the people and they are leaving all of the people in the dust and i mean when californians start to rise up and they've got surfboards that's worse than hitting a moose of extraordinary size. Hit by a surfboard ahead. That's the same glenn beck program serious dude all right. If twenty twenty holiday season feels like it's been a long time coming make it worth the wait. Send the perfect gift. Send yourself something special as your family comes together or not out of fear get a delicious a holiday. Feast omaha steaks done it again. They've ever be deluxe griller assortment. Plus you'll get four free burgers and a free digital meat thermometer. An exclusive price is thrown in the end. So you get the extra burgers the extra gift plus you get all of these really great steaks and chicken and hot dogs and and desserts and really unbelievable potatoes. it's the griller assortment check it out. Go online today. And check out the deluxe griller assortment. You will thank me omaha. Steaks dot com. Go there now type promo code beck into the search bar and shop. The gourmet grill packs today. Omaha steaks dot com. Promo code beck. Do it now omaha. Steaks dot com head over to blaze. Tv dot com slash glenn thirty bucks offer annual subscription or most important discount ever. Use the promo code. Glenn this is the glenn beck program. Welcome the seattle city council has has decided that they're going to push through legislation to provide an exemption from prosecution for misdemeanor crimes for any citizen who from poverty so if you if if you are suffering from poverty homelessness addiction or mental illness the courts will dismiss all crimes of poverty which are which are these Theft assault harassment drug possession property destruction and indecent exposure. So if if you're homeless you can now do all those things. Which by the way is seventy two percent of all reported crime in seattle. So those aren't going to be illegal so but if you have a if you have a wealthy person that breaks into your house to try to steal your tv. He's going to jail. He'll go to jail. But that is not how our society operates get out of jail pass just because you don't have a lot of money no this is gonna work out really well for seattle. They're basically creating an entire entire sub group of people who are immune from prosecution of crimes. You know why they're doing this taking. Es why they're doing this. They're all crazy marxists. He'll kill guess. Let's take listen. Let's feel on outer layer off this onion. Okay they're doing it because the crazy marxist are trying to starve the justice system. So what they're saying is seventy two percent of all crime that has to be processed through the court system Is misdemeanor like this. So if we make those things not illegal there's not going to be anybody in the courthouse so we can cut the funding of the courts because the court just sending people to prison. In the course of the problem there is no other de-fund movement another de-fund just in a different way. I mean who doesn't wanna live in seattle now. We did that remember. We did that documentary. We talked about a seattle is dying. I think it was called. Yeah yeah remember this and the society is already teetering on the edge of oblivion. And then you had this last year. Where with all the antifa rioting and and the the autonomous zones and such and then add this on top of it you got nothing left. You got nothing left. We have pike place market. You'll be shift on your way down to see it with your family. But you still have that and the space needle that you can see from the distance as long as you know as long as you're in the pope mobile it's going to be great. My favorite part of the space needle is a beautiful orange. Glow you see the bottom of it. At night. the fires lit at the bottom up to a distance. It looks can't burn metal. Steel doesn't melt. That's true okay. I now that pat is in i. I want to ask you guys. We your opinion on sports illustrated person of the year lebron james aw breanna stewart the chiefs quarterback patrick mahomes naomi osaka love laurenti. D'hiver Tardif tardif started. Okay good good good Champions on the field and champions for others off it yeah. The activist athlete is the person of the year for sports illustrated. I think that's so inspiring. So great and let's let's award the person of the year to the thing that every sports fan hates. Yes yes and they did and they did. So it's it's not even a person you know all it's all of them it's all of. Its mahomes an activist acting like that. I don't think so great quarterback and deserves it because he's really amazing a five hundred million dollar contract andy's my neighbor and he's your neighbor checks this guy. I didn't know mahomes lived here at school. So he's i mean if he's in my neighborhood. I mean i know my neighbors. Nowhere all the liberals live and they said there's three of them in this complex. I mean literally three at the complex. So i don't think mahomes is one of them. I don't know which is great. I i think that's i feel great about that. He's rock face all the time. Like lebron james is so it's hard to say whether or not i mean he does whatever it is. He's doing that. They think is so. Activist is being done fairly. Well be an activist on something that you know. We like. yeah he might. Depress doesn't like it so they never cover it right. I don't know. I don't know but the the last thing sports and then we'll move off of this. Is the vanderbilt players. That were crying during Sarah fuller's thirty yard kick. Don't know because i don't know if this is being so sarcastic or were they crying. Because they're like dear. God almighty i wish yards. What terrible kick you. They may have sobbing because it was a bad kick. Or i mean it's written that they were sobbing because finally a woman gets a chance now because cove covert right. Yes cova situation. She didn't they gave her a squib kick intentionally obviously so she didn't have to show how far she can kick it. And then why would you do that too right if the first woman to do it. You're like kick it outside. Get four yards right like it doesn't make any sense If you if she could actually take it to the end zone they would have had her show off. How amazing she wasn't with you. Everything equally acted like she won the game for they lost forty one. Nothing lost one. Kick one win. Twenty two yards does not show like. Isn't that evidence that i guess you know. I guess they were so bad in the game that they didn't have any other kickoffs but as soon as she kicks the ball she just runs off the field act the way. Thank god so she was murdered while she was on the field. Because everyone's trying to get the heisman trophy wasn't teams player of the week and the sec. Special teams player of the week. Arl kidding special teams flexi special olympics. I mean i don't know. I mean this really bad. I mean you know if you're gonna if you're gonna if you're going to celebrate this girl who played for the first time in the nfl power five football fine. That's great but she better play in the game. She swung her leg and bumped it into a football. Or you know here's yours. Come on this is this is how it should be reported for the first time a woman played in a in a but i don't even know male dominated sport or male only the first woman to play in the male dominated the first one to play that a particular college football so i first to play in a major football conference game. band. She kicked thirty yards Maybe two squid squib squib. That's it that's it that's great that's it why is like you know. Why is this so celebrated we. We have lost perspective complete lawn. Everything yep on everything. It's one thing to say it. You know you make it notable okay by this the first time ever happen. That's interesting to award her something over over someone else who actually achieved something like. She had a normal squib kick. Which again you would. They wouldn't have done in. the situation. Did dismember we no reason to to do this. But still it is something that happens. A male kicker has done a similar thing. Right so okay. It's the first woman to give her special teams player of the week to put her as person of the year. Whatever they're going to give her at the end of this. It's ridiculous right like there are people who actually achieved something in that in that. It is the ultimate participation trophy. She is getting a trophy four participating and you should have seen i don't i don't don't follow college. Football that much right but they. They celebrated her on every college. Football broadcast over the weekend was unbearable tapes music. And all i am i am so i'm so sick and tired of hearing how women just can't make it Our internet out of the house over the weekend she survive and people are complaining about thing. I know i'm going to give you heroes of the weekend. Thank you So we actually had to watch regular television. No so apparently do have you virgils and everything have you watched it in a while. Not really no. I haven't either go back and watch you. It's like so incredibly frustrating. You're like dear. God how did we. We were living like animals with all the shells. Yeah yeah so. We're we're forced to watch anything so we're watching working girl which i never seen before now that great. Yeah yeah yeah way. Back like in the eighties. I think Way back harrison ford was like forty so anyway we're watching it and it gets to the end and the ending is just. Hey she's got her own office in a new york firm. I mean spoiler alert. First of all of them were greens. People don't the so so. That's the big deal at the end. She has her own office and she's calling. She's like guests. Where i am where you're in your office. This is not new york city. Big firm not a big deal. But i thought forty years ago. You could make the argument the argument this is a big deal but now we just elected the first female vice president or just selected the first female vice president and nobody even when she was up giving the speech. You know and you know. People were honking their horns like she was a drive in movie theater And she's given this speech. She's like only in america. This is what can happen. And i'm thinking first of all you hate america. And what the hell are you talking about. And then i realized oh because she's a woman nobody even cares. Nobody even cares anymore. It's not that big of a deal. We have moved past in. Yeah women can work what women can make decisions what they can run companies. That's absurd man knows not. That's the way it is. The left is so consistent on this. Don't you remember them celebrating. The a nation of sarah palin to be even for the first friday listen to if they had worked about how they've supported. I mean it really against their own best interest how they've supported every african american. That has been elected as a republican. Oh my god they love they love. I mean when herman cain led the presidential race for a while and it was a twelve and they love love day loved him. They six love justice thomas. They hold the republicans that have been elected to congress. All of those women a currently in love with kelly leffler in georgia love her. Just they keep saying. Wow what would a ground would've would've brave and she is a glass ceiling guys. That's all i hear. I hear i'm so sick and tired of hearing how brave people are like this like this woman kicker. She was she's brave. She deserves ward. because i mean she's braves field immediately. She says he's getting all the accurate accolades. It's not brave. I love this rock and roll has lost. Its soul so much that eric clapton eric. Clapton is being shamed because he's going to sing a break. The rules song. Isn't that what rock and roll does used to me. I wish i took a screenshot of this. I was looking at some some mainstream news today to headlines directly next to each other no irony like just directly next to each other headline number one Joe biden is forming the most diverse cabinet ever headline number. Two joe biden names all female. Communications team is it. The most diverse carry all females city diversity. Well it would be if we could mention that some of them used to be males can't all right. Thanks pat pat gray unleashed you can find him wherever you grab your podcasts. There's new research from threat. Intelligence firms cybercriminals groups are increasingly using ransomware. They're changing their techniques and procedures to widen the scope of their cyber attacks. And of course that's expanding the pool of people who fall victim to this kind of thing all the time about you but cyber criminals if they would just take a vacation every now and then instead of working so i mean you guys are working so hard really take some time off but your feet up. Unfortunately no dice on that one They're still sending in their underpants in vladimir putin's baseman. Doing all kinds of stuff. Lifelock is there and they will help detect a wide range of identity threats things like your social security number for sale on the dark web lifelock detects your information being used in their network. They'll send you an alert and if you become a victim they'll help you restore your identity. No one can prevent all identity theft or monitor all transactions at all businesses. But lifelock can help you feel warm and protected this holiday season. Save up to twenty five percent off your first year at lifelock dot com. That's lifelock dot com. Use the promo code beck or call. One eight hundred lifelock. That's one eight hundred lifelock or lifelock dot com promo code beck. You're listening to glenn. Bomb bricks and telescope has just done an amazing rant Let's go ahead and play. That here can't tell me that shoving down which is the easiest answer is necessarily the only answer i just as a public health and public service announcement for the audience. The difference quickly retailer. Is this all about the difference between the different difference between a box retailer. Hold on the difference between a big box retailer and a restaurant or frankly even a church are so different. It's unbelievable degree where i disagree. You're where you can have your thoughts to wear science. I'm sorry it's science different story. Roger people to lows aren't any safer than one hundred fifty people in a restaurant that holds six hundred. I don't believe it sorry. Don't believe there was a lot of restaurants that have fought back and they don't have any problems and the road okay. You don't have to believe but let me just say this. You're doing disservice to the viewer because the viewers need to understanding viewer. You are you are. I'm sorry. I'm sorry. If i would like to keep our viewers healthiest humanly possible believing idea packing people in your restaurant. I think our users took on the role that i'm much smarter different viewers like some people. Do amen this. Cnbc guy trying to tell rick santelli what he has to believe or as a science denier. I mean. Really give us the facts. We'll decide. Hey everybody knows pay pal but did you know that they were teaming up with honey to save you money. Honey is the free online shopping tool that automatically finds the best promo codes and applies them to your cart. And now it's part of the pay pal family. Just add honey to your computer and shop on all of your favorite sites like normal when it comes to check out. Just click the little apply coupons button when it pops up few seconds later. Honey scans the database for all the work coupons on the web and watch your price drop. Honey works on nearly every online store walmart. Door dash homedepot lululemon. Macy's honey is found over two billion dollars in savings. That's why they have over. One hundred thousand five-star reviews on google chrome store. Not using honey is literally passing up free money it is free to use an installs in just a couple of seconds. Get money for free by joining honey. Join honey dot com slash back. That's join honey com slash back. Hello america it's monday. Well i think the message is very clear what our response is going to be it. I'm not so clear on but the message that you're being sent is shut up. Sit down and take it. I'll explain in this. Is the glenn beck program. Think about For just a moment the food that you been feeding your dog. How healthy is it. I mean you. If you're like most people you go out and you really try to get the best food but of its kibble food. It's got nothing. The food is sterilized. Anything crunchy it's coming out of bag. It's been sterilized. And they don't have all of the things that your dog needs. I mean i could get into the dog poop. Thanks you to get into the dog. Should disappear on your long. It should just be but it doesn't is because they're eating the wrong they don't have the nutrient no. Don't do that okay. Yeah you're it's it's displeasing but e you should know that that is talking about. Your dog is not getting all of the all of the food that they need to all the antioxidants the you make oils the minerals the vitamins. The probiotics they make a difference in you. Same thing with your dog get rough. Greens it's not a dog food. It's a it's a supplement that you just put on the top of the dog food so whatever you're feeding them you just put it on top. They love it. Get the jumpstart bag today. Fourteen ninety five seer dog thrive again. Ono is a different dog. i swear to you. He's like three years younger. It's been what eight months since he's been taking this and honestly he's a different dog rough. Greens dot com slash beck. Ffa greens dot com slash beck rough. Greens dot com slash. Beck is a great story in american greatness. The bout dave morris dave morris was fed up has a gainfully employed television news reporter aired a live segment outside of a small cafe. Del viewers that morris was keeping his business open despite a government order to close it. The michigan restaurant order confronted him the kalamazoo health department at issued a warning to morris on december first for allowing indoor dining against the wishes of the great governor gretchen. Whitmire bring me the broomstick anyway. He was instructed to shut down his business immediately or face. A fine imposed by the government local journalists was on the scene however he was on the scene to tattle. Morris told the reporter. Everyone needs to stand up. This isn't an order this tyranny. Wake up stand up. This is america. We're supposed to be free. The reporter later tweeted about his own bravery in the face of an angry business owner. Who kept interrupting him. Morris who has own dnr's daily grind cafe for twelve years. Say says he lost one hundred thousand dollars in business this year and is going broke and he said quote. I can't go down quietly. I can do. I can go down quietly. Are i can go down making some noise. So people understand. What's going on. I choose to go down making noise but this is america year. Two thousand twenty. You don't have power anymore. Why because you won't stand because you're allowing bullies to bully you and i'm not talking about you in particular. I'm talking about america. America has always this is december seventh. The only thing we have to fear is fear itself december seventh. We declared war on tyranny. We declared war on japan. And because we did that. Germany declared war on on us and so we went to war against fascism communism nazism authoritarianism. Any of these is amman's it started on december seventh. Your public school isn't good enough for your kids but you can't afford anything else. Shut up and take it. If you want your kids in a good school you have to pay all kinds of all kinds of property taxes to fund it. We pay more in funding of our schools than any other country in the history of the world and yet they're failing. Our children shut up. You want to keep your business open so you can pay your bills. Pay your employees shut up and take it. You wanna go outside without a contaminated face cloth covering your mouth and your nose shut up. You want to gather the family or rather together for your every year. Since you were born christmas for dinner shut up you wanna have your vote count in the most consequential presidential election in modern history shot up the politicians the academics the reporters the experts that are now controlling every intimate aspect of our life. Not totally to blame. There's fear fear over a virus that most americans we'll find harmless. We've surrendered our basic rights to comply with the with with quackery from gavin newsom. Forgiving awards to governor cuomo neighbors are turning each other in families. Aren't talking to each other free. Enterprise paralyzed criticism is in icu. This is how authoritarian states began. What's next you're person hood. Paper in the form of a covid nineteen immunization ation report shows. You're in good standing with the state. It doesn't matter how many times the ruling class has misled us intentionally purposely unintentionally. No apology they scream about the almighty data and then they go out themselves. Without masks they go themselves to restaurants. They violate their own rules. And yet we're called grandma killers. How many kids have to suffer. How many kids have to feel alone. How many kids have to go through depression. How many kids lives have to be destroyed before we say enough enough of this. How many special needs students or low income children that will fall further and further behind. How many before we say enough. You didn't go to college because you couldn't afford it or you went to college and you spent decades paying it off and now you're working to pay for your children's college and they just want to throw money at anybody. Who just was they were not. They were not old enough to really understand the decision of taking out that much money really at eighteen at twenty. You're not you're not seasoned enough to go and borrow money but at eight you can choose your sex shut up. Shut up if you disagree. Stand up. this is happening because we don't stand up and stand together. They've kept us divided. When most of us agree on common sense they have made co vid political so they could keep us divided. None of us want grandma grandpa to die. None of us but ninety nine percent of the population is going to get through covid ninety nine percent. Let's protect those that are most vulnerable. That's the way the world has always done it. I want to read an email. That i got over the weekend. And i wanna read this to you. And i want you to know by understand what this individual is saying and there is no hard feelings or anything toward the individual at all. I completely understand. Glenn i just listen to nancy. Pelosi's press conferences two. Why the nine hundred billion dollar. Bill is sufficient. The left is also already claiming biden is responsible for the vaccine. I'm a hundred percent agreement with you. I listen every day. I'm ablaze subscriber but as a loyal conservative. I feel. I have to tell you this. I just cancelled my blaze subscription. Because i feel my business is already been targeted because of it. I'm not on social media. I only watch you on your app. I've requested for google to update my company information in the past six months. I never received a response. I'm going to lose business without google. I have to utilize their listing. Now let me just op ed. Here i don't think that's what's happening with google. But he probably knows more than i do on his situation. I hate canceling my subscription. Because it's going to mean money taken away from the research that you do to be able to tell the truth al. Continue to listen to you on the radio. And i'll look for you on youtube but i just need to lay low. I feel were defeated. I don't believe a broken system will bring justice. However i am a conservative. I just have to be camouflage right. Now when the time comes for us to regain our country i'm one hundred and fifty percent all in. I'm angry all the time right now. Makes me furious to watch. Our country hijacked by socialists. Real racist and communists when there's a call for action. I'll be there. And i'd be willing to lay my life down for my family but i need to focus on god. I wanted you to know why. I canceled my subscriptions. I'll still be listening to you on the radio. I'm not gonna read his name. Because i don't want him to feel like i'm singling him out at all because i completely understand what he's saying the reason why i am reading. This is because he's made a decision have you. I told you this last week. It's only gonna get tougher from here. And you're either in or you're out and i can understand and i will never belittle anybody for either choice that they make. I understand it but it's not going to be easier and it quite honestly is the peril goes up the minute you start to hide what you believe the minute you start unplugging from that and you're not actively pursuing those things they begin to deteriorate you will be forced to do more and more things that you disagree with and because of that you have a real danger of losing yourself but i understand if that's the course you have to take. Everybody has to make their own decision. But i wanna tell those who are in the fight and are willing to be open and have their name known. You're not alone. We are not defeated. We are only defeated when we allow fear to rule our world. I have to tell you there are many days. I am afraid for our company. Many days that i'm afraid for my job there are many days. I'm afraid for my life there. Many days that i fear for my children but i know what we're fighting is evil. It is bringing despair and destruction it will bring poverty. It will bring in already has brought hopelessness. It is teaching our children that nothing is worth living for. It is teaching our children now that they're not worthy. It is teaching our children and our own friends that you're nothing unless you have an ax to grind it's evil and you cannot coexist with evil. It's either light or dark and you cannot stand in the shadows. I believe that we are entering a very spiritually important time. And there's not going to be anybody that's going to be allowed to eat at the edges. You're going to either be forced to be in or you're out today's today to make your decision december seventh a date that will live in infamy. Join us at blaze. Tv dot com slash. Glenn promo code glenn. Christmas is right around the corner and perfect opportunity for you to give someone you love the gift that keeps on giving the best night's sleep of his or her life and what they're going to get is a product from my pillow. You don't already have my pillow in your life. 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Enter the promo code beck or call eight hundred nine six six thirty one seventeen eight hundred nine six six thirty one seventeen or mypillow dot com promo code beck ten seconds station. id Have you ever had anything. That is worthwhile that it wasn't a hard struggle to get. I think part of our problem is we don't really appreciate our grandparents used to say about us my generation that you guys don't really appreciate freedom you don't really know what it means and quite honestly i didn't understand that at the time but we certainly don't now i mean we don't remember what airports were like before nine eleven let alone real freedom before. Fdr and woodrow wilson. We don't know what real freedom is. we also don't know what real sacrifice is because we have never been able we've never been asked to truly sacrifice in poverty like it was during the great depression and world war two. We have no idea. We've defended it in theoretical battles or battles in our mind or battles of boycotts. We don't know what real sacrifice is so we don't have a real appreciation for it. How many of us are really ready to stand and be ostracized. I mean truly isolated. I kind of welcoming i really do. I kind of welcome in. Because i know i'll know exactly who i'm standing with. You know what i mean. You'll know the people that are with you and you'll know what they're willing to do. You'll know that they are willing to sacrifice. They're willing to stand and let their voices be heard and come. What may is george. Washington said the event is in the hand of god. Let's not screw it up now. Let's do the best we can and leave the rest to him. This is the glenn beck program. Honey is the fantastic apt. Searches the web when you're shopping online and falls fines. All the best. Promo codes and coupons to save your money when you go to your card you probably knew that but what you might not have known is the great money honey giveaway. This is the gift giveaway. We're honey is helping pay a million dollars worth of free gifts this holiday season and it might as well be to you. You can also make lists of gifts that you want from certain stores and honey will watch twenty four seven to let you know when that price drop so you can buy it at the lowest possible price and you're automatically are going to be in on the great honey gift giveaway you add honey to your computer. You create a free account. You start putting gifts on your droplist for a chance to win. Honey will randomly select winners and give them the money to buy something on their list. Now here's the fine print no purchase necessary. You've got to have pay pal account to redeem the prize and the giveaway ends december twenty first. It's valid only in the us and enter and get the rules. Just go to join honey dot com slash beck. Begin saving money. Now join honey dot com slash beck. It's free it is really important to join up with media that you trust blaze. Tv dot com slash promo code. Is glenn say thirty bucks This is the glenn beck program got news in health news today. I want to let you know that wednesday. The mcrib comes back to mcdonald's. So why is the in the health section. This is a threat to your health. Just coming wednesday no. I'm not saying that it's a threat to your health. I'm just saying it's in the health section. It is in the health section that israel really really is. I feel like that's a bad placement for the can. Let me hit you on this The the president is now talking and there's reports out of the administration that the president if he leaves office here on his way out he's going to part in all of his family members and maybe even himself good good good. I'm on one hundred percent for it. I think what's happening with his family. Members is despicable Despicable and every every single republican. Who has ever said to me. Because i've asked why do we not pursue crimes. Why are we not going after. Adam schiff why are we not going after all of these people. That have lied. Who have perjured themselves. Why didn't we go after the clintons and every time it said because you don't want to start that because then it becomes a thing and you'll become a banana. Click and next thing. You know the guy you're running against Or is you're running against somebody who's in power guess who ends up in jail you right so because it creates an environment in which there's this political revenge fact direct but i think they've started it by going after the trump family do. They started life because the argument against it For me has been. You don't want this to start because then it then it doesn't end it never ends. It never ends because then the other side is like. Oh you're gonna do that okay. I'll tell you what so i i think what they're doing to his family and saying that they're going to mean that the the by threatening essentially prosecution afterward he'll go after jared kushner. They're gonna go after ivanka after from to just to destroy that family and they're doing it to send a clear message. Don't ever try to do this again. Not to the trump's to you don't do it. you will either play by our rules. You'll either be who we say you are. You're not gonna come out and and just over throw the party's you're not going to go. You're going through the system and when you're in the system you will do what we say otherwise we will destroy you. This is the worst possible message to descend. And i don't read the I don't read the constitution. Where it says he can't he can't pardon. His family harden himself i. It seems like i thought of this. Before and that. It's it seems like the least consistent thing in the constitution from the founders. Like when you look at what the founders they this maybe but it's like what what they were. Attempting to accomplish was a former country in which some guy at the top could not take unilateral actions. I friends let's and like here. And again i don't fault trump for this in our president i would use the pardon power like one hundred times a day like instead of tipping the guy who drops off my amazon packages. I'd be like pardon. Your part whatever would just give him a card into trouble. Give me a cool a tipping twenty five percent. I tip twenty and a guy. That's i use it all the time. It would just be really fun. I would too. I think he's used it the right way in many cases and he hasn't used i would seriously use it more because everybody else waits until the last day. Then it's like they just let charles manson out what a some president is. Trump did a little bit of this. And i'm not saying this is why he did put some president is going to figure out there. This power can When used frequently can help with votes well right like you could. You could say to. I part of me thought like what if trump came out because he did this a few times and did high profile african americans who were who were in jail for questionable reasons. Why not do that more often instead of just doing a policy about changing Criminal justice reform which he did by the way. Why not every day. have a new person. You're bringing out there and saying this is another person. I'm getting out. Because i think they were wronged. You know there have been targeted times in the past where presidents have done things like this. Were they just disagreed. With policies and did blanket pardons right in that camp. I can't possibly believe the founders had that in mind when they created this power but it is the what was the. What was the group of that. Bill clinton did on his last day. They were very much more specific killer sevens. They were that they were the radical group that dow started black lives matter remember Real radicals killed cops and everything else. He let them out and that was to curry political favor. Yeah and he also pardoned. What was her name. Susan dougal or yet or they've been of the few people that were well connected and paying lots of money to his campaign but it's more about friends right like friends associates people who could blackmail you easily. That's been more use of it. I think i like the idea of joining utilizing it constantly but but there is a real argument here. I think if you're in the trump administration to say that they're gonna come after my family members for any reason they can even think of real or not. So do you just could. Does it make you look though to the american people. Like you've done something wrong to family will to have the other half will go. Damn right i mean i will. I don't like the idea. I didn't like the fact that Nixon was pardoned by ford. I don't like the whole. Let's forget about bill clinton. Let's forget about hillary clinton that was worse. What hillary did was far worse with the clinton foundation was doing far worse. What hunter biden is doing. Far worse. i don't like being able to erase those things but this is a political target. They are doing if donald trump was ending his second term today or later in next month if he was ending his second term. They wouldn't be doing this. They're doing this to shut him up to keep him Scared to keep his family scared and to send a message to tea party. People and everybody else. We will crush you. We will crush you. Let me tell you a story. I'm not sure i've ever told on the air. We had our first real death threat during the book tour. Christmas sweater and i was about to go to work at fox and That christmas i was writing. Another book is called common sense and Everything was about to really explode on us and we had our first death threat and it was serious and there was a video with a disembodied voice that said all traders must be killed with driving heavy metal in the back and it was a computer voice. All traitors be eliminated. All traders must be eliminated and it showed me on. Cnn slowed down with the word trader. Underneath my face so we go on the road and we have our bus We had to switch buses all the time and try to kind of play a shell game of where i was because we had one of our buses surrounded by cars and forced off the road And i had a moment where somebody was in the crowd. And i was. I bet we had eight security guys at that point and They were in the There was a guy coming into one of the one of the book. Signings and i had i met about a thousand people in our at that time and my spider senses went up and i looked over and i saw this guy in a long coat. and it was appropriate but he had his hands in his pockets and don't know why i selected him but i looked up and i saw him and i like trouble while security felt the same way and i noticed that they were all starting to move in by the time he got to me. All of the security was around him and He had his hand in his pocket. And i remember saying to myself. Don't be afraid. don't be afraid. Just wish you merry christmas and i put my hand out and i said merry christmas and he started pull his hand out and he said all traders must and he was down on the ground. That was the day. I decided who i was and what i was willing to do and not do and i thought of the worst thing to be able to get through what i thought of the worst thing i could and that was bleeding out on a sidewalk someplace thinking about my family. I thought that was worst. I had a spiritual encounter with darkness the week after christmas and the message was clear. You think you know how i can hurt you. You have no idea. I will destroy your family. That is evil. it's evil and it's what's being ha. It's what's happening to all of our families. Our families are being destroyed. When you look. And you say i want to stand up against the machine and i'm willing to stand up in my city council. I'm willing to stand up in my office. I'm willing to stand up and be president of the united states. You know the battle that you're going to go through and if you're smart you know the spiritual battle your family is going to go through. Who is willing to do it if you know. The forces of evil are against you and your family and are on. They'll demonstrate it with this president. Who could stand this very few by the way Quick personal out. I would appreciate pair of prayers for my family. We are currently under attack. 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That's a savings of fifty percent had norton dot com slash back. The glenn beck program. Let's go to david in pennsylvania. Hello david welcome to the glenn beck program. Hi glen you are in my prayers. I'm a pastor I'm not pastoring anymore. But i'm still ordain minister. And i remember story in the book of daniel Actually couple stories and daniel. Daniel was taken captive into babylon obviously by a hostile power and carried off Certainly not the best time for him. He was also later on as an older man Under the regime of the persians as they conquered babylon and so he was under three different governments. I under the did use government. And under the babylon and then finally middle persian government. And all that the one thing that really stood out to me. And i think is something that you've been sharing and needs to be reiterated to the american people is that he kept his character. He kept his faith and he kept his integrity through all of that and everything turned out all right for him. And i think that's the way we need to be as well if we can do that. Then we'll be all right. I believe as a country we can get. Our country turned around. I agree with you. I think the not enough people understand integrity is really truly the only thing you own you own your bat integrity and all your mistakes or you're good integrity and Even if if your stance is that of immanuel kant. There are many things that i believe that. I shall never say but i shall never say the things. I do not believe mike in north carolina. Quickly you're on the glenn beck program glenn back. We're praying for you and your family. Man you misspell. He wrote you a thing and talking about he was afraid and he said he was trust in the lord. Well the lord is my shepherd. I shall on wall makes me to lie down in green pastures. He leads me beside the still wanna she was stores. My soul needs me in the past. Righteousness for his namesake year. Though i walk through the valley of the shadow of death. I will fear. No evil for our with me rod nice staff. They ended up with terrorist table before me and the presence of mind maze notice my head with all my cup runneth over surely goodness and mercy shall follow me all the days of my life and i worked well in the house of the lord lord said up my people who are called my mind name well unbelievable shelves and pray. Turn from their wicked ways. I'll hear their prayers. Heal the land. Because the bible says all things work together for good to them that love lower she would be called according to his purpose not a minister or feature. I'm just an old boy loves lou. We're praying for you. Thank you mike. I appreciate it and that is both of these calls. Are my message to you today. You're not alone. you are not alone. There is reason for you to be alive today. There's a reason for you to stand you. Were born this time for those reasons. Find that reason and have courage because nothing worth value has ever come at a very low cost. We're going to appreciate freedom more than we ever have. Hello america welcome to the glenn beck program. We're glad you're here We have some exciting news to announce if you've been looking for a replacement for the drudge report. I know a lot of people have in boy. Did you hear the rally in georgia. Lot of people looking for a replacement for fox news as well. The crowd was hostile towards fox news. Cnn was worried holy cow. How'd you like to be at a trump rally and be working for fox news. The mainstream media. What's happening where it's going. What does it mean to you. In sixty seconds glenn beck program all right so twenty twenty. It's almost over. Can we celebrate yet. Celebrate but keep in mind. Twenty twenty one pro. We're going to be worse. Mutt twenty twenty. It's been a long time coming for the end of this dam year so celebrate in style with omaha steaks omaha steaks. Right now they have. The deluxe graders assortment which gives you stakes. Gives a chicken gives you a hot dogs all of these things that are all gourmet. I mean it's omaha steaks stakes out there. Plus you'll get four free burgers and a digital meat thermometer at an exclusive price only at omaha steaks dot com. Make sure you enter back into the search bar that'll get you the extra burgers and And the gift for any serious griller or somebody who is in love with meat he he. I'm sorry you're moving from california to texas. A lot of us feel knocked the horns off it. Slap it on a plate. Let's eat omaha. Steaks dot com. That's omaha steaks dot com promo code beck robbie. No is our blaze. Tv midia critic. I don't know how much we pay him. But it's not enough to have to watch the mainstream media and all of the media and figure out what's going on. Hi rob. how're you ain't predetermined good. I thought we would start with some Some good news You know a friend of mine said to me Once when i was really being kicked And we were down. He said i've told some people that were bashing you that they probably should the stop that. Because i've watched you long enough and whenever everyone says you're down that's when you get back up and you crush it and we've been doing that with this radio. Show our television show. And let's get a real quick good news on blaze. Tv and blaise blaise media. Blazed media is podcast network is one of the top twenty podcasts networks in the country now and that you know all kinds of different things. That's you know people to do the media stuff. That's the big guys multi billion dollar companies that you know run media media companies. And then you know. I've i've been told by our executives. We are the largest right of center subscription video on demand company. We are in the world we are in the world in the world. Not just the united states in the world that is phenomenal and we should point out that a good chunk of rob's job is looking to buy every single pen in america. That can nancy. Pelosi sucks can be printed on. They have they have you doing that. I do that while despicable. We're around every blank of that pen in the world. So if you buy one for christmas you can blame the nancy. Pelosi sucks pan has been. It started as a joke. It was a joke thinking. Nobody's gonna buy this. You can literally every pin in the world that looks like this has been purchased and is is out of production and now seoul. This is true. This is not me lying. This is them. China can't make the. It's amazing it's a real whole the market. That's why we did by the way. Put nancy pelosi sucks the same signature on T shirts now and very classy mugs. If you wanna go nice warm hot beverage out of a mug that says nancy pelosi sucks all over it in the most classy way possible i advise you to go to stu merch dot or the police media store. There's tons of great stuff up there for a little less. Classy is the Blow dry my hair mug. Those a. it's not exactly what it says about getting your hair blown dry. Yeah so anyway with also unveil with nancy pelosi in the. It's it's cbo opinion of art. That is just fantastic. Unit at the shop dot the blaze dot. Whatever shopped up media dot com. Thank you knows the guy. He knows the address. Okay so we have something exciting before we get into the drudge report. We also have something exciting to Report today a kind of because we're making it this kind of a hard launch down. Something we've been working on behind the scenes to get in trouble for calling it hard launch. It's we're we're we're working on it. We're launching because it's on national radio on the likely hope. The servers are were at conservative review dot com which was with crtv when we came over in merged with the blaze a few years ago. is being repurpose. We always wanted it to be a review of conservatism right. That's what you know. The name conserved review was and now. It's it's an aggregate or it's like the drudge report. I look at it every morning. it's been we've been running it this way for a few months. I look at it every morning. It's got a bunch of stories from around the conservative web. yeah so We're aggregating all of our friends and you can see it all in one place and you can get to their stories And if you've got a limited amount of time it's a great place to look in its updated. We'll talk about drudge. And in how. He's not being updated a lot anymore. We update more than drudge. Drudge and that's what i want to get into. Everybody is asking me what the hell happened to drudge. It's an interesting story i mean. Armin rosen over at tablet magazine You can go to tablet magazine and find the story. Did a really deep dive on this glenn He talked to a lot of people. If you remember when when drudge Launched the monica lewinsky thing. One of the people that was influential in that was lucian goldberg. She's even said. I don't know what's happened. It's obviously not the same thing. I don't know match running it. I haven't talked to him So there's a lot of that sort of thing going on but when you look at what's happened to drudge. there's a few things It's certainly not super-conservative side anymore right. It's not like it was out in the early in the early twenty tens. It's not that i mean. He was a cheerleader for. Donald trump lately turned So there's people that think did he sell and there's a couple of things you can look. There's this couple Margaret and adrian auto out in mountain view california. Adrian actually works for google which you can tell from mountain view california. And they've run the servers for the drudge report. Free years they used to run. I don't know if you knew. But matt's dad bob drudge. Had the site ref. Desk that colin powell in the nineties said this is the site i go to every day. It was a really neat site. It had a bunch of links to media sources like the photos of the day but it was all place and they bought this website. Off of bob drudge a few years ago. So there's people that think that maybe they took it over from drudge and there's people that think that maybe drudges just you know someone that's done with this that he's a chaos agent. He's done with this and he's not really running it anymore but there's a few. I'm not sure if a liberal billionaire is bought drudge. Or if there's just people running it and he's trying to be a a chaos agent and he was trying to sow division during this election cycle but that is not. I mean. that doesn't make sense with the matt. Drudge that. I know that used to believe things now. I know he moved over to germany's he still over in germany. Last i knew he was in miami like Like citizen kane is the world traveller. I mean he's got himself you know back. But there's there's been some changes at the drudge report on the back end so not just what. You're seeing right I don't know if a lot of your listeners. Oput day andrew breitbart used to run drudge a lot like he was e-eh. Add would stay up like like he'd never sleep and he would run drudge on nights and sometimes on the weekends in one of the things i talked to andrew once i had him for an event in massachusetts that i was sponsoring and i talked to him as i picked him up at the airport. And i'm like you know one of the ways that you could always tell that you were running. The drudge report is that all the links would go to breitbart right. He would put him to his own site in breitbart back. Then wasn't the breitbart that we know now. Breitbart was an aggregate or associated press aggregate or that would just automatically publish associated press stories as they came out kind. He didn't have to do anything within so he would link to is associated. Press thing have a bunch of ads on the thing. Get a million page views and make himself you know six hundred seven hundred eight hundred bucks just for doing that. In addition to what matt drudge was paying him right so he would do that well last year in october august of this year. This website d. d. n. y. u. z. Dot com started having a bunch of things and what they are is. They're basically a plagiarizing they they would take our stories if i wrote a story at the blaze and it was good. They would take put on their website. Put my byline on it and the blaze and think that was legal. They're they're run out of armenia. Right and the drudge report was sending links to that website right so that so that was where a lot of their links. We're going and i'm thinking back in my andrew breitbart conversation that you know somebody. Maybe somebody and armenia is running the website right. Because they're sending it to this thing. And this rosen. Over a tablet did a lot of digging in the st wyan jozy shares. What he calls thirteen common identifiers with ref desk. In the drudge report for their ad network which this margaret in adrian auto apparently own in october twenty nineteen drudge. It had an ad network for a long time that he changed any went with one run by the autos or the website went with one. Run by the the report seems to be the only one of the only clients of the six client right. There's a couple of a couple of conservative clients Ref desk this newsy and drudge. You're putting it together. Does this mean that drudge soul to the does or or does this mean that they're running it they're running it for him and he's collaborative. Think that he would see it. I mean he's destroyed. They've destroyed the drudge report. Whatever's happening has destroyed a fifty percent down year ear over here in an election year. He had a fifty percent. I mean we did not have a fifty percent talk right no on our web traffic and that's even with some social media companies trying to throttle you and do that kind of stuff. We saw an increase. But it's really interesting when you take a look at it. I'm not a hundred percent convinced. I mean the easy answer is george. Soros the drudge report and they've turned it into a left-wing progressive haven right that would be a conspiracy. But that's the easy right. That's what everybody talks about my friends in conservative media. But it's open like we talked about with conservative review. It's opened up. I mean you can never go against drudge right. i mean. I was so addicted to drudge. Since like ninety eight that i would look at drudge. Probably about one hundred fifty times a day. I mean it was like my dad used to scream at me when i come home for christmas. Why are you put drudge report on my computer again like that was like the kind of stuff that's how it dictated to judge is still i mean up until maybe two months ago i would still check the drudge report every day at least once a day of going through my show prep and i would just check it and tell it just got to the point where like i don't believe any of this stuff i mean first of all it's either against everything that i i believe or it's from crazy ask sites that you're like whoa what is this right and the and the other thing i mean another data point that may show that drudge isn't running this is you know you know that he had this weird almost fetish with natural disasters and like you get a hurricane come and it would be like the top story for a week barely nothing i mean it had like the track stuff that he always used to put on because i think they know that that's what he used to do. There was an earthquake yesterday. In california it was not on the drudge report right every little earthquake in anywhere in the world that was like above five would be on the drudge report. And he's like a that. He's being held in some basement in germany. by marines. I mean yeah. I mean because he is he's disappeared always reclusive. I know i know. But now he's just like gone gone. The on was always reclusive So that's a bad thing about being a recluse is you can be dead someplace and everybody will just think as long as somebody's carrying on your stuff be still alive. I mean he could be you know he could have been killed by george soros on the back of that yacht that we've been talking about long time for i know i mean he. I mean something could have happened to him or whatever and nobody really knows something charming about just cashing out just living your life and not caring about this craziness anymore. It just like when you're essentially bring in thousands and millions of conservatives every day and they're being fed this craziness it's hard to to to think. A lot of people have gone away. I mean our friend. Dan bongino also has a site. The bongino report which a lot of people have gone to And even fox news got into the game like the this site k news. Where it's it's an aggregation of a bunch of different stories really well and it's owned by news corp's owned by fox news but it gets like no traffic but it's there I i know that. I've used it as a really good resource. There's another one that i think is really good called spin. Quirk dot com horrible dame but spin dot com is very. I mean my better than drudge. ever was for indy's pardon me run by the ferenci. Yes right exactly right. Thank you rob. I appreciate it again. Conservative review dot com. You can check it is very drudge like in its way another. 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Id don't know how those bells jangling maryland after the reindeer but might be just sound effects. Not sure rob. I want you to stay in just just real quick one more thing we're losing. What's his name jeep high. Yeah he is the greatest. Fcc guy we've ever had yeah ever. He's amazing he stopped net neutrality. Shows that that was all bull crap But we're going back to net neutrality and with the social media Stifling everyone what you think is coming our way i think you're gonna see net neutrality. Of course the left tries to say that net neutrality is. Oh we're just going to let everybody have equal access that you know comcast can't stop you from going to see a website or or pay for other people to go see a website which is absolute bunk. I mean we have five g. we've got Elon musk musk. Is going to be beaming you down the internet from space like four years. It's crazy so there's all kinds of alternatives. Your phone is going to be as fast as your your broadband connection. There's no reason to it. They want control. The left wants control of information and they can get control of information by saying in a very nineteen eighty-four speak you know newspeak way. Oh we're giving it neutrality. And every money can watch it and they really get their base riled up about this. It's the stupidest thing i've ever seen. But i really have to meet you. Really have to be uninformed and stupid if you believe it if you know it's about power and you're for it at least understand you but if you believe that net neutrality is really about new at this point you're an idiot. You're absolutely right. It's about control of the information. We see the the other things that scary more than net neutrality are taking shows like this and calling them election is the is the blaze under the biden administration going to have to register with the fcc is electioneering arm. You know there. There's things like that it's these. Are these illegal. We would concern. Not cnn right. We would be the concern middle road. Jeez but that's that's the sort of stuff that i'm also afraid of. I think that if we hold the senate a lot of that stuff doesn't happen. Obviously because you need you're supposed to need know congressional already to do but we've seen that you really don't but i think that those are the sorts of things that concern me The sort of diane feinstein's wanted to do in the past where you know we'll give you a license to be a reporter only needed to be a gun but in order to be like indemnified and be protected from prosecution. We're we're to give licenses for reporters. And i have friends that actually believe that that should happen. I had ted koppel lecture me about that that we need a licensed not any. Yahoo can go out and i said really ally who's gonna who will issue those licensed ted we will. There will be a panel of expert. Ho oh a panel of experts. I mean that that is so anti first amendment. I don't even begin to understand it but these are the same people that think that the first amendment is a protection against religion right dot four religion correct. I think that the second amendment doesn't really exist in you need a license to have a gun. The these are folks that don't believe that the constitution means anything right. I love i love. Somebody sent me a A deal of the second amendment said you know the founders. They had muskets okay. So let's let's You know acquire muskets for everybody and use it the way our founders would have. Somebody comes into your house. You blow a hole through them with the first bullet you might. You might miss. So you have to use the bayonet on the end. Yes stab him. Maybe if you have another gun that one's loaded you can hit. Hit him with that and then they can probably die from infection whether they were whether you shot to kill them or not. They're most likely going to die from infection or internal bleeding. 's because the little triangle of the bayonet that they used back then was made to just tear you up and not be able to repair it. So okay let's do that. Idiots is the glenn beck program. I wanna talk to you about gold and silver. I know we are at the time of the year where it silver and gold. Silver and gold. But you need to think that you need to think beyond the fat snowman there. Is there all kinds of things going on including the presidential election the uncertain outcome to the georgia senate runoff. That could permanently change the future of the us both financially and otherwise and were also the if joe biden is our president unprecedented printing right around the corner. Silver and gold right now call goldline. They're offering a retirement account. Special that can give you up to six percent in a promotional metals for self directed. Ira purchases additionally additionally the highly coveted maple flex. Silver bar is back only available. Now when you buy gold goldline's five dollar liberty coins do it now standing by to take your call. It's goldline one eight six six goldline one eight six six goldline or goldline dot com arts blaze. Tv dot com slash. Glenn the promo code is glenn. You'll save thirty bucks off your subscription and make sure today to check out conservative review dot com. Hello and welcome to the program it's the glenn beck program monday There's a lot that has happened and a lot of audio that you need to hear. I wanna start in georgia where trump had a rally over the weekend and he said this. Listen carefully down. You know a lot of people friends of mine. Say we're not gonna vote because we're angry about the presidential and their friends. Are there people that are great people there real friends in more than just two. There are numerous people and it's almost like a protest. But if you do that the radical left wins okay. It was sort of an instinct of mine. You know you're angry because so many votes were stolen. It was taken away and you say well. We're not gonna do it. We can't do that. We have to actually do just the opposite. Who can't do that creek. We have to just the if you don't learn the socialist and the communists win. They win georgia patriots. Must show up and vote for these incredible people. And i'm telling you that linus people you'll ever we can bind for the presidency and fight to elect our two great senators and we can do it at the same time. That is such an important message. Especially what's his. What's his face. Keeps coming out and lynnwood is carmen lynwood. Yeah the attorney. It's almost as if lynnwood was a democratic operative. He wasn't democratic. Donor is seemingly all of his life until very recently more recently than the trump election voting in the stacey abrams primary which she wouldn't necessarily be voting in the big trump fan but apparently he's now and he may very well be at trump fan. Or maybe even at some level of client. He seems at some level to be associated with the sydney powell at hundreds. Or whatever the worst advice you can take his his. It is the worst advice. Trump is exactly right socialist. Win if you stay at home in virginia let me Let me go to cove it. There's a couple of pieces of audio this. This shutdown of restaurants is not going. Well let me play i I cut kelly restaurant. Owner shows dem hypocrisy. I'm living everything. Everything i own is being taken away from me and they set up a movie company right next to my outdoor patio which is right over here and people wonder why i'm protesting and why i have had enough. They have not given us money and they have shut us down. We cannot survive. My staff cannot survive. Tell me that this is dangerous but right next to me as a slap in my face she is pointing to her restaurant and then all of these tents that look exactly like her fifty feet away it is. It's tragic and is she is being just hammered just hammered online. She's not alone There is let's play cut. Cut four food network chef. andrew gruel. Listen to this okay. I've got everybody blowing up my replies right now saying i'm a grandmother killer that we don't take this pandemic seriously so i'm just going to address it all right here so that i actually don't have to individually go back and forth and box with every single one of these thirty counts. So here's the situation. Do we take the pandemic seriously. Of course we do am. i saying. We shouldn't close outdoor dining. Yes i am at every single juncture along the way here from the beginning shutdown to today we've listened to all of the advice from our government officials only to be shut down and over and over again and then not compensated for the elements that we put in place in our business to protect our customers. We shutdown indoor dining no problem. I got a warehouse full. Plexiglass right now okay. We went outdoors all right now. That's getting shut down. I put thousands of dollars into outdoor heaters. There is zero scientific evidence that proves that outdoor dining is contributing to a rise in cases related to this all right. I am only saying that we are going to continue dining outdoors. Because i can get on an airplane and i can fly and eat and do whatever i want. And don't tell me is the hippo filters okay. Because that's not the case you don't turn those on until you get onto the plane before that everybody's fornication on top of each other. I go into walmart. Like i don't even have to wear pants. Nobody wears a mask at walmart. I can go get pink. Cockatoo for my christmas tree. But i can't go and dine outdoors at a restaurant. I can go to target amazon's making tons of money. All big businesses getting rich okay. Outdoor dining does not lead to any of that therefore screw that works stain open outdoors. Is that simple. Not the governor is now let me kick it up one more notch. Here's rick santelli on. Cnbc can't tell me that. Shutting down which is the easiest answer isn't necessarily the only answer rape. I just i just as a a public health and public service announcement for the audience anchor. Difference wesley retailer. The difference between the different difference between ops retailer hold on the diversity that big box retailer and a restaurant or frankly even a church are so different. It's unbelievable where i disagree. You're where you can have your thoughts. And i want to wear science. I'm sorry it's science different story. Roger people at the laws aren't any safer then hundred fifty people in a restaurant that holds six hundred. I don't believe it. Sorry don't believe. And i use it a lot of restaurants that had fought back and they don't have any problems and the rope okay. You don't have to believe it but let me say you doing a disservice to the viewer because the viewers need scandal. Kind of you're you are you are. I'm sorry. I'm sorry. If i would like to keep our viewers as healthy as humanly possible. The idea of packing people restaurant. I think our users since the do that much smarter different viewers like some people do. How do we come together. How can we possibly come together when we don't agree this science garbage. I'm sick and tired of hearing it's science. First of all science has been wrong. For melissa's science is wrong. They're absolutely right and no one can argue until they prove themselves wrong and then they're like. Oh yeah the world is round okay. They're wrong all the time all the time except when they're not then they're absolutely one hundred percent accurate all the time. Do you remember how the fiery flood was supposed to kill us all by twenty twelve. Remember al gore's science then it was twenty twenty. Then it's now it's twenty thirty. It'll be twenty. Forty twenty fifty twenty seventy. They'll just keep changing it. Don't talk to me about the science of of a mass going a restaurant wearing a mask while you're standing but as soon as you're seated you don't have to wear a mask shut up shut up and you know the other problem with this is is. It's not okay to disagree anymore. It's not okay to question. It's not okay just to say whatever you must not only comply. You must participate. You have to say that ugly man who now is just Saying that he's a woman even though is junk in his pants. You not only have to say that. He's a she. You have to also say how beautiful and brave she is. You can't just remain silent. You must participate in it. It's evil and everything against everything. America stands for is being shattered right now. He we have the the most important election the most important election of our lifetime and we can't even question it. I don't know what the number i don't know what the truth is. I know there's enough to question things. Since when has questioning been a problem. I mean i feel like we just need to bring back takamato so we can. We can bring him here and he can do his courts and we can just have the inquisition. Burn at the stake. If they don't agree we look at the we look at the election. Let me play. Melissa corogne. She had testimony. She was a contractor. For here's what. she testified. Cut one was contracted to work for dominion so satelites. Keep it number twenty five. Is the problem ballot. It got jammed so the computer would throw an error. It would say bell number. Twenty five There there is an error. I would say pull out bill number twenty five slow. Pull it out. Put it on top. Take the The ballots had already been tabulated which are on top of the tabulating machine. Now put them all back in a stack discard the entire batch and rescan it. Instead of discarding they were just re scanning re scanning re scanning counting ballots nine to ten times counting votes nine to ten times so there were counting the same ballot the same vote nine or ten times yes sir. How many ballots would you estimate in front of you that you observed were counted multiple times in the machine. Can you put a number estimated number. Lsu at least thirty thousand so stop. I don't know if she's telling the truth or not. But i do know this. People are being threatened with their jobs and their lives. if they're lying and they're under oath they should go to jail. We should The only way we can put these people in jail not humiliate them not fire them for asking questions. But if they've they've they've issued a sworn affidavit. If they're not telling the truth they should go to jail but that requires us to look into it. That's why they're just shaming these people that's why they're coming after these people in these people that's why their lives are at stake. That's why saturday night live. this weekend. Actually mocked that witness. I would like to present. Someone who worked directly with dominion voting systems. Miss melissa caro- yell. I swear to towel my whole story and nothing but my story. So help me gob. Please tell us what exactly you witnessed with. The dominion machines fuse me. Maybe try losing that attitude. I just like you lost all those trump ballots. I don't handle ballots. Yeah exactly see. You wouldn't know what you please just talk. You're going to regret saying that. Because i personally saw hundreds of thousands of people you saw them your basically yes. I remember size bocci now. They're walking in. And then they gave their votes the democrats. And then you just some crazy. Damn at all. Accurate is at what she was saying. Is that even how she acted. was did that resemble reality at all. Did they write a joke. In the script at any point no there was a point to even attempt to to laugh and and and notice that it was. I'm going to tell my story will. Isn't that what the left tells us that there is no truth. Uc the the oath. Is i promise to tell the truth the whole truth and nothing but the truth so help me. God know what she did is what progressives are telling us to. Do i promise to tell my story because there is no truth. So i'll tell you my story and then making her arrogant which is exactly what the left does. I can't take the calling white black and black white. The can't take. oh no. the sky is down and the earth is up. I see i'm sorry. I refuse to go over the cliff with the rest of humanity. Because it's the only way to save humanity if you own a home but you haven't refinanced in the past year so you gotta ask yourself. What are you waiting for. Mortgage rates have never been lower than they are right now which means you could easily drop your interest rate and your monthly payment. If you just give a call to american financing you're gonna get free mortgage review no pressure no obligation or upfront fees. Just as simple ten minute conversation about how they could save you hundreds of dollars a month even up to a thousand especially if you put in your your credit cards if you have high interest rate credit cards you're never going to be able to pay those things down at twenty percent interest and think of how that's hob highway robbery. That's highway robbery. They're getting money at one percent and they're charging you twenty. wow call american financing right now and get out of debt. Save money every month and stop giving these weasels more than what. It's worth american financing. Call eight hundred nine zero six twenty four forty eight hundred nine zero six twenty four forty american financing dot net american financing and. Mls one eight two three three four www dot nmlsconsumeraccess.org. Listening to glenn beck msnbc is reporting today that All of the trump shenanigans are just ways for the gop to enact new Voting restrictions to suppress the vote. Which i think is you know which i think is To take is great. Yeah so we have The voting in georgia has the refused to answer. Whether or not he would pack the court. Why keep asking that. You won't answer that. The answer is yes. The answer is yes. There's no reason in georgia to hide that. No if if your answer is no yeah why would you. Why would why would you say and if you are going to. I guess you could say moderate is gonna vote for me but if you're warnock no moderate is going to vote for you anyway. I mean i mean unless you think that like barack obama was a moderate guy is jeremiah wright he refuses to distance still from jeremiah wright. I don't think he's going to have a problem packing the court. I don't think new When these two races there they'll try that or something very similar. They'll joe extreme. You have a will it all right. We'll see you tomorrow on radio. God bless keep safe.

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September Jobs Report; Tech Turns on Capitalism; Steve Schwarzman

Squawk Pod

28:35 min | 1 year ago

September Jobs Report; Tech Turns on Capitalism; Steve Schwarzman

"I'm becky quick and you're listening to squawk pot bringing show musically this squad the daily podcast brought to you by the team behind squawk box control to CNBC's essential morning show every day. Get the best stories debate and analysis from the biggest names in business and politics are commodores correct today. It's jobs Friday unemployment at a fifty year low but is it all good news Amelie Peach of a report our panel on whether the economy is ripe for recession plus tech billionaires turn on capitalism people who want to succeed succeed and I know it's politically correct to say that to be honest with you. I think mathematically that's incorrect and Steve Schwartzman recalls his worst trait a realized I was about to cry. I'm just not allowed to cry. The Private Equity Legend tells becky quick about his early struggles and Becky's thoughts on that conversation which you'll hear only on the podcast to hear. This guy who you think is making other people cry. I'm CNBC producer Katie Eddie Kramer. It's Friday October Fourth Twenty nineteen spoke pod begins right now star trek you buy in three one good morning welcome back to squawk box here on CNBC. We are live from the Nasdaq market site in Times Square. I'm becky quick along with Andrew Ross Sorkin Joe's out today. Our guest host is Steve Grasso. He is the director of institutional traditional sales at Stuart Frankel. He's NBC fast money trader. He's a frequent guest here on squawk box wonderful. It's the first Friday the of the month jobs Friday. When the Labor Department releases the number of American jobs lost or created the month before as well as the latest unemployment number jobs. Friday is always weighs on Friday and it's always at eight thirty. AM So on Squawk box. It's pretty much always free. There are a lot of voices in this conversation including our economics reporter. Steve Liebmann plus all of noisy traders behind our reporter. Rick Santelli who joins the team from the Chicago Mercantile Exchange Andrew will walk you through the rest of our panel joining us now Halston Goolsbee in the Windy City University of Chicago Booth School of business professor and former council of Economic Advisers who's chairman. It's great to see you my friend. Kate Moore's here strategist at blackrock. Dave macintoshes joining US President of the club for Growth and a former US congressman. It's great to have everybody here. Let's get to Diana like she has. The numbers one hundred thirty six thousand nonfarm payrolls increased by one hundred thirty six thousand in September. The unemployment rate fell to three point five percent down from three point seven percent. That is the lowest level since nineteen sixty nine Diana thank you we're going to talk about all of this with some reaction from our jobs panel right now kate. Let's start with you. We never put anybody on the spot with saying exactly what that number was going to be but you were looking for a strong number and this is this really solid number the number. I was going to give one fifty nine with some downside. I feel like one thirty. Six is a healthy number especially because you saw the good healthcare number we expect expected little weakness in manufacturing retail. I think that's kind of par for the course of where we are in the cycle so I feel really good about this especially in light of what we had earlier this week in terms of 'em so so I think equities will do well to balance of the day. Hey Steve. You've had a minute to dig through some of that. What jumps out to you is the most important parts in this report are just trying to see the last night we had to be and a half percent unemployment rate and it looks like you gotta go back to nineteen sixty nine for one look. Here's the problem and we sorta flagged this problem back. in August as at August is very typically typically revised higher so the slowdown we thought we had in August at one hundred and thirty which we thought was hey. We're coming down to the place where we think we ought to be. That was your vice one sixty eight yeah and I think those are good. I think that tells us that. We're doing a little bit better than we thought we were doing. Retail has lots of problems down eleven thousand and then down on six thousand. We have to watch that sector. There's a huge transformation as you know happening over there. Look there's two scenarios that we're watching for here. Scenario number one is is a sort of expected slowdown as the crazy two hundred plus job gains of last year. Come back down to normal if we can settle in call it a one on twenty five to one fifty range that would be good and we're worried about the weakness going down below one hundred thousand. I think the idea that that we're now in zone own where it looks okay. It's pretty comfortable. It's not great but it's not terribly week. I called a win. Hey Rick Walk us through the market reaction to me. The biggest news without a doubt is that the markets looked at it as good news stocks and treasury yields but it's really a bad report in not for the jobsite wages this this is terrible unchanged month over month under three percent two point nine on a year over. Excuse me month over month year over year basis this these are good numbers. It's all about the money I stand. What do you think of this report. You know this kind of a mealy peach of a report. We're we're a little under what what what the forecast was okay like. Steve said it's it's okay but it's not it's definitely not Great Austin though you're looking at the wage issue decelerating eating not accelerating. How important is that to you. I think it's pretty important now that wages are steady after we've had several months where where they were growing. Hopefully this is a blip but I mean I'm telling you the thing driving this whole thing is that the GDP growth rate is slowing down and and a lot of the forecasters are now saying that they expect a one handle for the rest of the year if we get GDP growth falling down into the ones. I think the jobs odds numbers are GonNa fall apart and the ways numbers are going to fall apart dave when he think growth expectations for the rest of the year what are yours continued to be strong in the two to two and a half percent a from a political standpoint. This is very good news. The fact that the unemployment rate is an historic low. That's what most people around the country look at and the job. The creation rate is averaging now at one sixty three hundred sixty thousand a month when you compare that to pre trump the the Obama era at one oh nine that's very good news that he can take to the public and say we're. GonNa continue to grow the economy create jobs and the wage. It's a slight downward trend trend in the direction but it's still a positive increase rather than decrease in average wages sounds like a goldilocks number two so it say yet. Everyone picked US apart. You had some some weakness. You had some strengths in it. It still gives the Fed some room for cover to cut rates so I I think this is as close to a not too ought not to cold grieving for the market and we saw the market react to it almost immediately yeah. I totally agree on the Fed bit here. I think if we had a number that was very very strong and then everyone had to reduce their probabilities of further fed accommodation or mid cycle adjustments. I think that would cause risk asset assets to sort of chic but this is is right in that sweet spot where it's we're still growing or not growing so fast and that can continue on that path recession. They said before with a three point five percent unemployment blended economists can pick through this. This is probably a tailwind for trump. Wink wink had not but still you know at this point. It's about the economy me and for it to go. This long extended the cycle really's attest. Dow Strong. This overall economy probably is often have quickly. Can these numbers change. How quickly would they change. If we were actually seeing a turn and things I mean if you go back and look at previous recessions they could turn pretty quickly and if a recession begins and the strongest part of the economy now is that consumer confidence in consumer spending remained strong that can turn around very rapidly in a space of just a couple la months you can see big drops in consumer confidence down. It doesn't mean that that it will happen now. That's the that's the reason not to just say hey well L. A. One hundred thirty five thousand a month is okay and so it's probably going to be fine. I mean if we got an escalating trade war manufacturing's already in a recession. Shen and retail is already in a recession and those are two pretty decent sized chunks of the economy so we gotta count on the other stuff really kind of maintaining aning itself and the rest of the world the US is still doing better than than all the other advanced countries so it's it's not a primarily about US policy but but there's a lot of dangers out in the world that everybody should keep their eye on Steve. What's the next big thing we look at in the markets the Fed coming up and obviously China Eddie Trade. We have to look at those talks. You have the Fed coming up those and then you have earnings starting so we haven't had anything to really dig into fundamentally delete for this marketplace. That's why we've been enamored with everything around it. Once we start to see that there's not an earnings recession Fed China all this could be a tell when and I don't think that we're going to have the same October November December that we had in two thousand eighteen. That seems to me what everyone's worried about. You don't think we're going to drop up twenty percent in the next three so that's that's a positive but what you think about it. It's all about positioning in the marketplace. I think that everyone got abundantly to negative. You've based on what we saw in the last couple of months last year and I don't think they're positive enough for the potential for the market to rip higher now now that just want to go back to the earnings bit here that's right. We're focusing so much on the trade talks that begin next week but I think that the first reports from companies on third quarter earnings are going to be really important for Equity Market Arkansas sentiment. We already know that twenty twenty numbers or too high revisions are likely to come down but if we ended up getting a solid you know a bit of guidance from companies as they report art. Maybe those downward revisions are not as stark and then we'll have the opposite effect of what we've had over the last couple of weeks which is a restoration of confidence in some of the corporate side. Were you've been talking. Our president's been tweeting. Let Maybe Austin or Rick Respond. If there's something to say here he writes breaking news unemployment rate at three point. Five percent drops drops to a fifty year low. He writes in all capitals. He says Wow America. Let's impeach president in parentheses even though he did nothing wrong exclamation elimination points Rick in Austin. You guys can go at it. If you like. A rate is well over all I it's. I I agree with him. I said that the unemployment rate going down. That's that's excellent when you get to the question of impeachment. Let's let's say for another day all right. WanNa thank our jobs panel today. Great to see everybody. T's will be next few you made it up next on Scott Fahd capitalism in the crosshairs. If you're not hitting your numbers for the shareholder nobody's giving you extra credit for nailing the other component parts and later blackstone. Steve Schwartzman on his early days as captain of industry. I'll give you one hundred hundred one hundred hundred million dollars. I'm David favorite join me CROC into me and Jim Cramer for the opening bell our of CNBC squawk on the street the podcast subscribe for free wherever you listen and you can always catch us live weekdays at nine. Am Eastern CNBC this squad. We're back with just becky quick. Andros Sirkin and Steve Grasso now here's Andrew Ender we have to Texas IOS goes speaking out this morning about the future of capitalism and wealth in America here sales forces. CEO Mark Benny off at the techcrunch disrupt conference. I really strongly believe that capitalism as we know it is dead that we're going to see a new kind of capitalism and that new kind of capitalism that's GonNa merge is not the Milton Friedman capitalism that it's just about making money right and if your organization is just about making money I don't think you're going to hang out very long as a CEO or a founder of a company you have to be more than that in today's world you certainly have to be more than that in San Francisco and the tech industry as well and Benny later pose this question he said if trust isn't your highest value than what is is and I think this gets to the whole question of shareholder primacy and what the Business Roundtable said. I don't know if he's right or wrong. I think what he said was especially if you're in San Francisco in Cisco probably but the difference is if you're not hitting your numbers for the shareholder it doesn't the rest of it and I hate to say it doesn't matter nobody's giving you extra credit for nailing the other component parts agree look at this look at the seal of Ebay by the way they do. They do all sorts of great things things and he's out wisey out because he's not the numbers for the company and so we're going to the next step now even when they're hitting the numbers for the company. There's how much yes yes did make so now we've but I don't know if it's using to make four shareholders how much how much does CEO so you have people weighing in saying you've made to much on the compensation front right. What's the right ratio right now. That look back said there'd be billionaires. which is something that's been brought to the next stage so every half once you get down that path what I notice is billionaires? Are the first ones to say they don't want any other billionaires. They've already made it. They WanNa make it tougher hurdle those those jobs for the rest that are coming after them well. Let's let's jump in to one of those billionaires separately facebook. CEO Mark Zuckerberg held the surprise Q. and A. Session with employs last night he sympathized with Bernie Sanders view on billionaires. I understand where he's coming from I don't. I don't know if I have an exact threshold on on like what amount of money so much had happened but I mean at some level. No one deserves. I have that much money. Zakar compared himself to a robot who needs recharging in joke about the livestream he said at this point. I do such a bad job at interviews that what we I have to lose which I have to say I think the more he steps out until the better off us. We're but we are an interesting moment. I don't know what's going on. I don't know it's about the company having to do more. I don't know if it's about taxes is that relieving to do with the political winds. Joe would laugh if he was here. We don't have enough people espousing housing the virtue of capitalism can do because I think that that's actually what is driving our whole economy and everything else and that's the important part I think the flip side of that that is we haven't nailed how we collect revenue and how we spend revenue as government to make sure that opportunities are equal and everybody has an opportunity to understand the can't and even if we haven't nailed it. It's still better than the alternative to see around around the world isn't the alternative no question the question is can we nail it and I think that's the real question into reasonable sorts of solutions to these things that you could get Democrats and Republicans to agree on things like extended the earned income tax credit which Republicans and Democrats in the past used to talk about all the time is that being very fair way of trying to do this and making sure that nobody falls below a living wage and it is like that have been thrown out the window. We're just GONNA go after any success and take it down but we also have to realize the the middle class and the lower income earners are the wealthiest and have the most out of wish you even Steve Schwartz. That's a week argue. The truth who is a devout Republican will come on the show and say that he thinks that the American dream is struggling to so that's not that's fine time to be politically correct. You have to say but I think even beyond that I think there's a fair argument to be made that we have to figure out a way to actually make the opportunity apiece equal because today it's harder hundred opportunity pieces not equal one hundred percent and where is it lacking. Where's the last opportunity taste though if you look at every day if you look at every you send your kid to school that had a low or failing rate. If you had the opportunity to go you should you should have the ability ability to get yourself into a position to succeed but Louis time the ability today to be the lowest court. Get into the t t even to the next four tile let alone the top. Cortana is it is materially harder to do today than it was twenty years ago thirty years and forty. We have not improved. We've actually gone backwards. There's no better than any other system that you can find. It's not as good as it used to be so that's the key when people talk about people that want to succeed succeed and I know it's absolutely correct to say that and everyone wants to say i. I think I to be honest with you in fairness. I think mathematically that's incorrect. Save that tape okay. We'll talk more about it next on. SQUAWK pod a revealing conversation with blackstone. CEO and Wall Street Titan Steve Schwartzman. I realized I was about to cry saying I'm just I'm not allowed to cry. I just can't do this back after this law and order. Svu is now TV's longest running primetime time drama and this season. We're going even deeper with the law and order. Svu podcast listeners subscribe wherever you get your podcasts this squawk pod taking you behind the sounds of squawks from CNBC today billionaire Steve Schwartzman he's Co founder and CEO of the Blackstone Group A major private equity firm with five hundred forty five billion dollars in assets under management and portfolio of companies is that employ about a half a million people that makes him a sought after investor but also an adviser with influence beyond Wall Street Schwartzman recruited and organized the original CEO Advisory is re panels that met with the trump administration twenty seventeen he's also prolific philanthropist giving one hundred million dollars to the New York Public Library one hundred fifty million to Yale and three hundred under fifty million dollars to mit to establish a new college of Computing Schwartzman's. New Book is called what it takes and it offers stark personal stories about his early career. Steve joined Loyd becky quick at the CNBC and institutional investor delivering Alpha Conference last month. I caught up with becky quick about that conversation. Look people look at Steve Schwartzman and they see see one of the titans in the industry private equity a guy who built this enormous firm that he's running but you you have to remember that all huge success stories start with people who are out there trying to bring in business and it's. Steve was really honest about how hard it was at the beginning after being somebody who was successful fall on Wall Street somebody who had been an investment banker and had done very very well to then going out and starting on his own he and Pete Peterson where the two who did it and these are both guys who had come from very lofty heights then when they were out on their own and they were entrepreneurs it was a tough adjustment to get used to asking asking people for money and having them say no it was fascinating how vulnerable he is in recalling his his early days he he also told the story about about how somebody almost made him cry when he lost money and what are those early adventures at that was incredibly emotionally really the room kind of soaking it up to to. Here's this guy who you think is making other people. Cry Is almost crying himself and that was a tough lesson that he took into the this is never going to happen to me again. As I got better as a result because because they really put in all kinds of checks and balances to make sure that you were mitigating risk in any and every investment that went through right new oh brave people in finance. I think that was his line. That's right here's Becky quick and Steve Schwartzman and they're speaking in front of a few hundred people having lunch. which is the background grand noise that you hear we started out in nineteen eighty five and we had a business plan to go into the advisory business because didn't require any capital? We only put up four hundred thousand dollars two hundred a piece and you could talk and people would give you millions of dollars. I you so now. I'M TALKING FOR FREE SO I. I've always gone backwards. That was the first thing we wanted to do. In the second thing was to go into the private the equity business and then the third thing was to start new businesses some of which have become like a real estate business. Which is the biggest in the world. Now you started when you saw like something really decline where it looked like an amazing opportunity that even as an amateur manager. I couldn't screw screw up. It would just happen by itself because you're timing was right. If you could hire somebody who was ten on a scale at ten to run it and if the business itself generated intellectual capital that could make your existing businesses stronger so that that was the simple plan and we're still just doing exactly the same thing except we're doing it at at sort of like much bigger scale than when you start and it's just an idea so as to what becky asked me as part of our second part of our strategy we decided to raise a private equity fund we sent out five hundred little letters offering circulars and nobody called you need need enormous emotional stability because you get rejected so often in our money raising operation. Abrasive I fun. We got one. Yes in seventeen knows and we were completely dead and we'd run out of the big guys to go to see and we have one left. It was the prudential and you know I was pitching my heart out. It was a Friday at the PRU through garnered Keith. Who is the chief investment officer with their that way was was a privileged because usually you saw these like run dunes you know in the middle level level of something and they don't even care these chief officer the biggest insurance company in the world? I mean there's like hot. Stuff stuff looks at me and he says that's really interesting what you're thinking of doing. I'll give you one hundred and I'm thinking one hundred hundred million dollars a hundred million dollars from the reference institution in the world. Everybody else except to people turned us down and here's this man giving us a one hundred million dollars. This is like visiting Heaven Steve. Let me ask you about some of the skills you developed on the way. One of them is identifying talent. You're looking for somebody who can hold the table. Something something you're trying to figure out how big their brain is how logical and how quickly and how seamlessly they can move from things to thing. How do they think deeply. How do they think about something that comes up that they don't know about. How do they handle that to the try and fake it. That's a bad idea idea right. You always get caught. Did they say in effect. I really haven't studied that. I'm not familiar with that that much Whoa what is it that you're interested in there so that's like a good response you know and and sometimes a walk in for an interview like most of you because nobody has adult life and you've just had some fascinating interaction with somebody. you know some deal oriented thing whatever and you're so excited you say Geez. I just had the most amazing experience because I I get amazed easily. You know a lot of things happen to me and I'll just start talking about that and you usually get a range of responses one like what the Hell Am. I doing in this room with this person. That's the wrong response right and it's it's sort of like I'm inviting somebody into my world and do they want to join it. uh-huh is it interesting do they have questions or do they sit there and sort of shocked amazement saying this was not what I was expecting that that is also the wrong answer because in all of our lives here in this room you know there's always something happening that you weren't anticipating so the ability to handle incoming stuff and take it in make it into something deal with it in whatever way you're comfortable. That's fine so so what you learn and one other tip is always keep your eyes is locked on that other person because the eyes are the window to the soul and you can tell so much by just watching someone they'll tell you who they are and in a way. It's just like speed dating. How fast can you figure out that this person will lose her speaking of that. What's the worst trade you ever made. I Greenlighted Investment Investment Company called edgecomb Steel Steel Distribution Business and we had no processes third investment and so I I may pretend I was King Solomon so I'm behind the desk and somebody walks in and you know without really a written presentation tation. I know this company. I worked with them for years. They'll give us an exclusive and Blah Blah Blah and here's the multiple and you know so that sounded pretty pretty good and then one of the other partners of the firm heard this was going on talk about mismanagement right. He heard about it so he came to my office. He he said this company is going to go bankrupt six months later we couldn't pay our principal and interest and lost all of our equity in the process process and one of my investors called and asked to see me. I sat in that wouldn't chair in front of his desk and the guy started screaming at me that I was the most incompetent person he'd ever met and my face is is getting read and I realized I was about to cry and saying I'm just not allowed to cry right. I just can't do this because this guy who was excoriating. Me was absolutely right. It was really a completely shameful moment and I thought it off. I went cab in the parking lot. I got an and to the parking lot and I looked around. I said this never going to happen to me again. And as a result of that what I would call colossal failure. Are we changed. The whole way. We approach investments rule is everybody has to interrogate that team. Everybody has talk about the risks of an investment investing should should be rational and orderly collaborative operative using everybody's experience and intelligence so it makes working in an organization like that incredibly incredibly comfortable because you don't get blamed steam. Thank you very much. That's the show for today. squawk box is hosted by Joe Kernan Becky quick and Andrew Ross Sorkin tune in weekday mornings on CNBC at six am eastern. Mark Your calendar get your DVR and people use ours anymore as we were dating ourselves to get the smartest takes analysis from our TV show right into your ears. I subscribe to Squawk Pot Apple podcasts spotify stitcher wherever you get your podcasts. We'll meet you back here on Monday. Have a great weekend yeah.

becky quick Steve Schwartzman CNBC Steve US CNBC Fed CEO Kate Moore Steve Grasso President Steve Liebmann Dave macintoshes Andrew Ross Sorkin Joe NBC Rick Santelli Austin reporter Katie Eddie Kramer
Mike Church Show- Yes, There Are Now More Than 1.9 Trillion Reasons To Leave The Union #EXIT Has Begun!

CRUSADE Channel Previews

07:23 min | 2 months ago

Mike Church Show- Yes, There Are Now More Than 1.9 Trillion Reasons To Leave The Union #EXIT Has Begun!

"And here we are a year later. They showed no signs of light of of letting off the gas pedal their paddle than a metal. This is still armageddon. People ought to be looking around going where all the sick and did people i mean. Life is so much returned to normal inside the medical community at the tiktok. Doctors have stopped making videos may actually had to work now. During the corona they weren't working emergency rooms weren't overcrowded. Yeah there were some instances doctor that was calling us a new jersey. Well that was a specific isolated. Incident talked david before the true money show yesterday. What a great show. It was. And i'm a say well. Why should edwards continue emperor bell bonaparte the fourth here in louisiana. Why should he continue. He's got gotten his last Of hundreds or tens of billions of dollars that are now going to be showered as a result of this wicked horrendous. Bailout what is there left to. The legislature is going to go in session any day now and they're gonna proclaim him that he doesn't have again. What is there left for him to do. Just stop say your orders are over. Follow texas and mississippi in the legislature wants to pick up on this and ruined people's lives. Let them do it. Because it's an election year and this date and know what will happen even though there were cowards out there still heidi behind their face diapers one year ago folks yesterday. The house demon krant party on a pure party line. Vote approved the compromise. Second draft with a one point nine dollar corona hoax. Ben what i gotta bail out. They here's what is troubling to me. In march around the same time of year of true thousand and nine twelve years ago there was a very different set of circumstances but very similar and congress led by the same winch nazi pelosi. Any coach with minority party led then by john job. Bena now today by the feckless kevin mccarthy. We're doing pretty much the same thing. Do you not remember the. I'm not talking about the porculus occupants because that wouldn't come until a little later i'm talking about the tarp. Bailouts t. a. Maybe tour troubled asset relief program. And then there was a bail out chrysler and there was a bailout of g. And we're going to get a ban that they that's the whole Soundbite came from the european from clark. Dawes member okay. Raja your special subject. Tonight is the economies of the european community you. Tom starts now best of luck. How much does greece of roger Three hundred and sixty seven billion dollars correct and who do. They owe it to nicely to the other european economies correct. How much does islanad eight hundred and sixty five billion correct. And who do they go to other european economies mostly correct. How much does spain and one trillion dollars each correct. Who'd mainly france britain and germany correct and how germany france and britain going roger. Well struggling of it i correct. Why because the lintel lease vast amounts of money to other european economies compulsively possibly back Correct so what are they going to do. They're going to have to buy them out of that. Where are they getting the money to do that. Roger good christian the answer to that one. How much does portugal just answering the questions. Roger whereas portugal going to get the money goes to germany. if. Germany can't get back the money lent to italy just a minute. What was the answer to the previous question. Was hacking broke. Economies lend money to other broke economies. Having gotten the money because they can't pay back the money. The broke economy into the other broke economy and shouldn't have landed tatum in the first place. Because the break count ferry valuable time raw there was an actual story behind. What they're going to get a bail that they did get bailouts some days folks. I truly think i'm losing my mind. People were begging jar. Talk radio what was the make it. Stop april the fifteenth tax day rallies across the united states. I didn't make this stuff up. Am i the only one that remembers this. Hell i went to. I went to more order. Go to this eight more or tens of millions of people in the street. Remember rick santelli. Who wants to pay their neighbors. Mortgage the tape party. There was there was an actual palpable. Outrage people were living over this and then they then the crowning jewel. When we're going to ban out. I think what porculus succuming stimulus bill. A mayor one trillion dollars here today though i bought my ear out there and i listen. I don't hear beau peep bag out there. I don't hear anyone my friend convo. They're gonna call you right. I heard nothing from anyone other than research do maroon and in the small pockets where we do just a little bit of resistance. What is it red versus. Blue team and crash version republican collins hair version lib cards and as i told some of these are not your grandfather's lipped art. These people are actual communist. They are not go along to get along. Tae are actual communists now the house yesterday. Where oh yes. Hey let's rubber-stamped the one point nine trill all of you people are gonna joe manchin you joe caregiver and always not always not exactly the exactly what i told you. It's going to go down. Fifty fifty in the senate Dash is going to pass the time. Vote and it's going to buy. What do they were. they're doing their big hoop do of tomorrow right to big signing ceremony for their covid relief packages tomorrow and tomorrow night. The president is going to primetime address the nation and lay out his vision for other relief measures. You mean one point. Nine trillion isn't enough.

bell bonaparte house demon krant party john job legislature Germany kevin mccarthy Bena minority party edwards portugal britain heidi louisiana Roger new jersey france Dawes
Anti-Vaxxing Isnt Wright

News O'Clock

21:19 min | 5 months ago

Anti-Vaxxing Isnt Wright

"The black panther star teacher right is defending herself after tweeting. An anti vaccine video. Joe biden and kamala harris gave their first joint interview after the election and warnermedia has big news for its slate of movies in two thousand twenty one. The date december fourth twenty twenty. The time musica pay friends. I'm casey rackham suffered welcome to buzzfeed. News o'clock zach. Do you want to know what i did last night. One hundred percent. What what did you do. I caught up on real housewives assault by favorite show. I do not watch. Tell me where you have your favorite personality. Heather gain dog duchess duchess. Guy calling her duchess scipio. Okay so you know how. I told you about the woman mary who married her step grandfather. How could i forget okay. So she really loves fancy fancy clothes and she decided to like throw a luncheon and she wanted to have a theme so it was the met gala. But i cannot emphasize enough. This was a luncheon for six to eight people in the middle of the day and informal. Wear okay so they all like so. Basically the camera was on all the women. Is there their writing and stuff like that. And they're like oh red carpet in in the middle of utah at noon. That was person's reaction but the best reaction with heather gears. He was like he has so the the met gala but a mega is an event and the theme changes every year. I mean that is real. The mecca at a place the metropolitan museum every year. The theme theme is different. Because widow chooses the theme and shows up met gala. This why i love you know. This woman. duchess gay is an icon really from chandler. She is a truth. Teller is outside when they were talking about like what they were wearing. She's talking to her cousin. They were in the car at she was like what we think stacked up against us to dress for an evening where the met gala and a luncheon all in. What's but i would say the upside in one of the weirdest things of this already. Weird event was that mary gave everyone. Louis vitton earbuds they make earbuds. Yeah and then. They all prayed together. Prayer okay luncheon. Contradictions here are infinite. We love and this also is type of chaos that i only want from a hospice franchise in utah that i will watch when it's all done and that america is why i haven't watched chat because i know once i start i can't stop and i want to binge and again so you know i'm gonna wait and i'll be ready for that for the show so so hyped up all right zach. It's time for today's top stories. What have you got for us okay. We got our first joint interview from president. Elect joe biden and president elect comma harris on cnn. They covered a little bit of everything from climate. Change to hiring a diverse cabinet but one sound byte has people doing double takes. And i think my inclination is in the first day. I'm an argument to say. I'm going to ask the public for one hundred days to mask. Just one hundred days to mask not forever one hundred days and i think we'll see a significant reduction if we occur that every th that occurs with vaccinations and masking to drive down the numbers considerably now to clarify. That's not a firm nationwide mandate to wear masks for one hundred days but it would be one of biden's first acts as president. He also mentioned he would issue a standing order. That masks must be worn in all federal buildings. Meanwhile if you're wondering why asking for one hundred days of masking is important. Cnbc reporter aaron. Ross sorkin and editor. Rick santelli argued over whether or not distancing and shutting down restaurants was necessary since some politicians have been dining out in larger groups. Hold on the difference between a big box retailer. Any restaurant or frankly even a church are so different. It's unbelievable where i disagree. You can have your thoughts and want to wear science. I'm sorry it's science different story. People to lows aren't any safer than one hundred fifty people restaurant that hold six hundred. I don't believe in the argument started because the us added only two hundred forty five thousand jobs in the month of november while the unemployment rate hit six point seven percent according to the bureau of labor statistics. The nine hundred billion dollar stimulus bill. That's in the works. From congress includes three hundred billion to small businesses one hundred sixty billion for state and local governments ended additional three hundred a week to unemployment benefits. That i know this isn't the takeaway but has there ever been five hundred people in a lows. I will share something. I'll tell myself on the other day. I had to go to a home depot on black friday because my a router fell from a shelf and ripped the cord. And let me tell you casey home depot on black friday. I think there were five hundred people there it was sanity because that's the only but you're right winner that many people to lows. Why are they so loud on cable television. The you're allowed to get that loud. Why can may And then and then talking about. I mean it will be interesting. For joe biden if it becomes a mandate for the masks for one hundred days and stuff like that but it is interesting. Because i read a thread today from dr on twitter. That was just talking about like. Hey you know the vaccine's going to protect you. It's not necessarily going to protect other people if they have taken it because you can still pass it to them. So it's like we still need to be wearing masks. So i mean hopefully some sort of mass situation i truly. We've been doing this for since march however people still so not hip to the masks once you get on the train it's easy. It's easy breezy. There are some beautiful mass that there is a good fashion moment. I actually ordered some. This is not a sponsored post. That reebok has an amazing athletic. Thirty bucks you get a reusable about three to five of them or something. I don't remember but really comfortable. Very chic very good for the face. So that's my recommendation. Get them they can breathe. You can wash them get over it. It's a mask all right casey. Get us up to speed on everything pop culture and entertainment before we head into the weekend. Well actor latisha. Right is defending herself. After tweeting and deleting an absolutely bonkers anti vaccine on thursday the black panther star tweeted out the seventy minute video with no commentary other than the prayer hands emoji the video featured commentary questioning legitimacy of covid nineteen vaccine. It also questioned the existence of climate change and included transphobic language. After deleting the video right tweeted out this statement on friday. My intention was not to hurt anyone. My only intention of posting the video was it raised concerns with what the vaccine contains and what we are putting in our bodies nothing else. It was just a matter of time before vaccine came out in full force as we were close to the vaccine. So i yeah. I think this one was just a little bit more of a shock because i i guess it's kind of ironic because the character that latisha right plays is very science and technology so that was like a everyone loves earns people like oh no latisha and also the things. She was liking some tweets about her being replaced in marvel and like in the in the sequel and people are like. Oh maybe we should and you know. I just didn't need this in my week because we are still reeling from other disasters around black panther. The movie losing chadwick boseman. So you know. I just i hope she just stop talking about it and we can move on and educates herself. Yes learns and uses her platform for science. Not okay moving on. There's some really sad news for superstore. Which is one of my favorite sitcoms Nbc has announced. The series will end after wrapping up at six season in the spring. The shows always struggled to earn renewals but has developed a cult following its earned praise for its diverse casting and focus on social issues like immigration affordable healthcare and cultural appropriation. The news comes after starring. America ferrera departed the show. Just last month she was supposed to leave at the end of the fifth season but the show wrapped early due to the pandemic so she returned for two episodes in the fall. Have you ever seen show zach have it. But i've seen twitter talking about the show and people really said about it. You know for the first two seasons. I mean i loved every single season but the first two seasons. We're very close to just like a sitcom a really funny show. I think it was like the office but set in like a walmart. S kind of place. But the show really grew into itself. And when we're talking about immigration. Yeah they were talking about ice. One of their coworkers. Got taken away by ice then. They're also something i did. Mention was they are very pro union and it was very eye-opening just seeing about how they're treated by corporate and it's just like this is how a lot of americans are treated. They're not giving good healthcare. They're not giving good pay there. It's just like it's very eye opening. And i think they handled it in a way where they weren't hitting you over the head. So you know i will say six seasons. That's a lot of seasons. I think you know probably a natural and for the show. But i hope that people do go back and start to rewatch it. See if they've never seen it before. Because i just think it is actually a very important funny show i love. You're making me wanna go watch. I wonder if it's on netflix. Or hulu or wherever. That's my one. Big talent is making us specifically what to watch the salt lake city now and i do remember the ice episode because that was such a big deal for show to be directly engaging with the fact but this is like twenty seventeen twenty eighteen Beginning of trump administration but talking about the reality that like isis literally ripping people out of their jobs and these people up so much. Mix it personal. Um so i will go. Watch it just for you casey. Thank you okay. So one final pop culture update. We got some pretty huge industry. News yesterday warnermedia announced. They'll be releasing their entire slate of twenty twenty one movies in theaters and on. Hbo max simultaneously warner ceo and sarnoff explained that the plans to run the experiment for one. Full year saying quote. We're living in unprecedented times which call for creative solutions. A lot of people are saying this could be the final nail in the coffin for the already struggling eater industry. Although it seems likely warner will work out a deal to pay feeders extra. That agreed to play films that are also streaming. One thing is for sure it means we'll be able to see a bunch of huge movies. The day they come out from the comfort of our couches. Maybe even some that we wouldn't have seen in theaters so zach. I would like to take a moment to play a quick game. And don't worry. I'm gonna play with you okay. There is no no trick questions for you. I mean the list these movies that will be streaming on. Hbo max and then we have to decide if they're worthy of going to a theater for next year. Got it dude. Or dune i go to the theaters. Isn't timothy shallow. Mayon it hears about that one. I don't really have an interest in seeing the movie but everyone's been talking about it for like years at this point and it does seem like one of those movies that's met for theater yeah my. Tv is not big enough to really take him like that like extraterrestrial landscapes. So i could see and also timothy. Shallow may will not look tall for me. Then so i will go see there now. Okay so the suicide squad which is very confusingly titled follow up to suicide squad home because the first one bad. Yeah i that will also be home for me. I think that's a great home one. Yeah okay space. Jam avenue legacy. Wait like the michael jordan spaceship. There's a new grove s with theater with some pop candy. My mine is home. And i'm hot. I mean that is also a choice to but in the state of california you could behind the theatre saw years. You're sure very go by do. That's that's kinda subjects that at home blanket with mom may. Yeah yeah. i'd like that. Like with my sister or something like that. Okay so this one. i'm very excited about. I'm giving it away. I'm seeing this at theaters in the heights. Going to get through so excited. For night i will. I will personally go with you to see this in the theaters. Because this i mean this is what i know. Everyone's obsessed with hamilton. But i saw in the heights before hamilton. It did obviously come up before but it was the first theatre cit of lemon well. It's incredible and cannot wait to see it on on the silver screen. I mean it song dance. It's a joyous occasion with emotion and happiness and it's just like that is something i want to experience with other human beings. You know okay. Now the newest installment in the conjuring franchise titled the devil made me do it. I'm not watching it at that movie. I'm not seeing. I will skip right past her. A major four. Say oh my horror friends. Who are always like casey watched the conjuring and i'm like no pass and a pandemic go see this movie. The love it okay. For theater hundred percent theater i i have not seen matrix. One presumably two or three so I probably shouldn't go see four. A delay see the other case. There are so many reasons why this is like not okay from the white house keys. Being queer eye to this film franchise just really launching. The future of the region require like the sunglasses the fashions it may dominate like media clothing really fashionable it mainstream to the matrix for sure and i and i'm going to see it because i my cousin eric who's older than me. I think you forget. I'm not gonna say his age but he's he's older than me but every time a new one came out as a kid he would take me to it so maybe home and go see with him and his children he has but Yeah it just. And i will tag along and be like okay. What is this in reference to. You need to of matrix one even because the main female character and i'm blanking on her name but she's a queen icon herself. I feel like every queer woman is obsessed with her okay. I'm gonna watch the major promise you already do that. Okay so that is the end of this game which i fully enjoyed. But there are like a ton of other movies. That we're gonna see to like tom and jerry godzilla vs cong- and judas and the black messiah and i mean this is really amazing and unprecedented that we get to see all these movies excited. I'm really excited about judas on the black messiah. Because that's the fred hampton bio-pic the black panther leader in chicago In icy chicago reporter on that side of town. So i'm it. I love anything that makes things more accessible here in theaters aren't always accessible of people whether it's actually physically getting into them or paying for them or etc etc etc driving to them So that makes later this easy to watch i. i'm down. I like the democratization of theater. All right so we come back. We were talking about how a grandparents air nudes to the grandkid on accident. Okay we got time for two more things a daily double if you will. The first is something that's taking over. The internet at cherry dank posted quote eliminate to forever along with the following food and drinks tacos fries beer burgers soda pizza and cake and of course. It came with a healthy debate and relatable replies. One person responded. This choice is like a song movie trap while another added. Do you want me to starve toy. So what are we doing. What are we eliminating here. So we have to eliminate two of them to where they tacos fries. Pergram eliminating burgers. 'cause i've never had a burger so i won't miss it. I don't know what i'm getting rid of. This is kinda sad. This is really cake. i don't like cake. i'm fine with that. This is easy for me. I was very easy. You why where not to have dinner with you minus going to be soda and beer soda and beer see. I like it was so interesting that i was like. I'm not a big beer drinker. But what i wanna beer. I want a beer. It's very rare. That i feel that when i want a martini. I want a martini. When i wanna margarite margarita but a beer as kind of it's something i order when i wanna press the brakes on the night you know something i'm gonna have holding that i'm not gonna touch. So that's what my safety net up drinking tacos forever forever. I had some shrimp tacos last night. see we live in southern california. That is impossible. everything else can literally tacos after. Stay art i second topic as tiktok and who boy where to start on this. One user mimi bay eighty-nine grandma sent her some omelets. Call them very private pictures. And this was her grandma's voicemail after the fact grandmother. I apologize so much. I sent you pitches. I pushed your name bob mistake. I meant to senate to my friend ryan allen pleased. Didn't he get pizza from you. Please grandma baby grandma. We're not looked up at my thing. And i've seen a full so so bad. I'm was sending it to brian. Allen i read i think my favorite part was that she was like for you but this is it was told on herself just. I'm hoping that this is grandma's mistress. That grandpa either but you also have the care of grandpa knows how what i we. Okay sorry let me take a second here. We know from data that elderly folks in america are having lots of sex. Sti rates are booming in a nursing homes pre pandemic. so we know they're having sex. Thank you akra. But i don't need to know my grandmother my grandmother. I don't know what i would do if she sent me her news. Also what were the ankles casey. I'm sure you. And i both of guy news and i don't think my grandmother get certain positions like that. Okay just don't i just like. Oh my god. I wanna know. How many times does this happen to other people. Because i'm i'm sure it is. I'm just positive it has few. That weren't supposed to be said. I feel like it's happened to parents. Baby at grandpar- i mean i guess it probably has. If someone's listening to this has happened to you you can. Dm us tell us and we can keep this picture. We don't want the picture. I'm good on the picture was about. I do wanna know about that. I mean what we have to understand that everyone is actually being. Our parents are having sex or grandparents having sex articles etc. I sometimes. I guess. I just want to talk about it. I don't wanna know. I don't wanna see the photo god and i'm very sex positive but i don't ever want to ever ever ever. Have you ever gotten a photo from someone like this accident. No but someone sent me one. That they got on accident won't name. It was absolutely hilarious. And i'll tell you it was an accident. They basically were trying to take a picture of something else and they were just straight up naked in a mirror. Oh my god my favorite photos where people send a picture of something else. He reveals something into their full. Exactly the background a little bit I remember there's a day of friend of mine is years ago accidentally posted there nudes on facebook We had to send a text message. And i think it's because when you the facebook photo thing and if you press it as it can go really quickly so it happens when people do it. I mean we saw with chris. Evans chris evans said it just very recently so very well. I hope it doesn't happen to us. And i don. I hope it doesn't happen to any of our listeners. All right that's it for today. Join us on monday. When we're talking with andrew reynolds about his star studded new netflix's movie prom. You remember the met. Gala is an event with a theme. Not necessarily feet itself looking at you. Mary real housewives of salt lake city. Music lock is produced by dan allen. Hack julia karen. And eric peanin special. Thanks to trace. The manga had to cement the headache. And tommy wesley. Beaches subscribe to news o'clock on heart. Radio app apple podcasts. Or wherever you go for your sound stories in please take the time to leave us a rating and a review. It helps us figure out what you like about the show versus what you love about the show and remember to set your alarm so you never miss an episode of who's apply.

one hundred days latisha warnermedia joe biden casey casey rackham heather gears metropolitan museum duchess gay zach Louis vitton comma harris Ross sorkin bureau of labor statistics nine hundred billion dollar utah seventy minute kamala harris chadwick boseman mary
Love and youth and spring

Grant’s Current Yield Podcast

20:39 min | 1 year ago

Love and youth and spring

"And Welcome to current yield grants interest rate. Observer over the Air I'm Jim Grant and with me as always is that North Whitehead, intrepid technician and Evan Lorenzo deputy editor of grants and Phil Grant, who had its are almost daily grants indispensable guide to daily events in almost daily basis. A WE are coming to. You want as much as I. Th! They I think. They all day and that's has to go down as one of the epochal days in American finance on this very day. The Federal Reserve has launched Evan would be too much to call leveraged acquisition of American financing I I think that's pretty fair elbow of kind of the financing role to the marketplace. Now before we get into the intriguing details I want you to note this podcast is brought to you very generously by grand interest, rate observer and You know I can't help but notice. And Phil and Eric that the Government Cares Act Cares Act which is going to be responsible for a twelve hundred dollar checks to every sentient American citizen, and some of the ones who are not quite setting I think those checks were in the summer twelve hundred dollars, which happens to be approximately the cost of years gifting to grants now. Can you think of a better use of proceeds then I've had a lot of people. Ask me like what a good reading recommendations and I think brand that we have a very long archive. You just put together a new reading packet. Perhaps we could. We have more the for you're asking. We have a new companion of our pieces. They theory behind this compendium. Is that Our financial difficulties did not actually originate and wet markets of of the People's Republic but the the corporate immune system, so to speak has been impaired through years and years of lending and borrowing at what we at grants contend to be uneconomic and manipulated rates of interest is given us the debt, bubble and kind of the everything bubble. No so the The the virus is one thing if it has another to have intersected, but we must distinguish between the two, and we think we've done that a grand. Welcome your attention to this on demand compendium and I think that just go to the website. Eric Whitehead has had correct and find this thing, and then, and then you're required to subscribe required, but Alexa watching your every move. After you download this thing, but do download read it then. If you like it. subscribed with your government, check, you'd go to www dot grants pub dot com forward slash W. Twenty twenty. Dot Com forward slash W. Twenty twenty, he speaks. Larry you know this. This virus that has been a nuisance for us. All worsening uses it would. Eric was going to take the family as his want to Mogadishu for his annual vacations site selected this year some of the Whitehead family members I think had wanted to something more a little more adventurous and the largest city in Somalia, Rep somebody outlying suburbs with appeals more to those adventurous types whitehead clan, but they settled on Mogadishu, and wouldn't you? Travel was bad and so their home tooling around Smithtown. Long Island looking for the little specifiers they can stop on. That's the white heads. They just pray folks who was there any news today that we might discuss with our loyal listeners? Corneal in oppressively, said a lot of people in the market overlooking better today, saying they're providing a new package of loans with up to two point, three trillion dollars, and this package of loans spans everything from half a trillion dollars in the unique on that they can purchase directly from the cities and states to the Fed, actually buying ets of junk bonds to the Fed. Also buying angels that is only investment. Great companies have fallen down to sub investment grade ratings well. What is the not buying stocks yet? Not, yet, well it. It seems farfetched, but then again so much of this you I. I'm I'm anticipating. Objections from some of our listeners that we are querulous and. And picky you in our criticism implied it over to the Fed in this offense is wrapping itself around the Flag America, but also of the matter in mission, and it wants to make us better at wants to make the economy home again wants to help us overcome playing. Let's see that that's well and good. I'm not so sure as well. Let's see I think the. The question before the House Evan Gentle era is the question before the house is what happens when the play received as this virus surely will these things have a beginning middle and end, unlike unlike these monetary veterans which seemed to go from strength to strength. That's the word certainly from aggression to more aggression, radical policy seems to be getting more radical policy and. I think somewhere in the chairman's remarks today Chairman Pals Marks. Assurance that once this crisis passes that the Fed will put these spanner, wrench wrenches and hammers and. BUZZSAWS, whatever they tool has a the appropriate always approved unless tool toolkit. Put him back in the tool. Kit Avenue going to happen. That's a good question. as you know from federal is your back to set can actually purchased. Guaranteed by the historically, they've stuck to treasuries agent here the way we get around that as the Treasury's actually giving it back stuff for credit losses, and the Fed is just providing the loans to actually buy these s in effect. The Treasury's. What happens when we come towards October November. It's a presidential election market maybe down a little bit and the Treasury Calls Up Jerome Powell and says hey. We WanNa buy more things. It's open question what happens after that I have it on the thirty so so I may not committed to. To develop that in a conversation not so long ago, chairmanship said something about so his interlocutor she don't companion said to secretary when something about we must have to helicopter my course to which the secretary of applied. Let's agree to disagree so I. Think at the highest reaches of the Treasury of the trump administration. There is tolerance for untested. Untested monitoring measures perhaps matches or exceeds that of the Federal Reserve, and even as the Fed has pledged limitless credit creation to this project or rest ration-, so I think the politics go are in place to welcome such listeners, and you do wonder I was GonNa say how it ends? I wouldn't know whether it is just starting your day on the. Three second phone with Rick Santelli, my friend, Luke Fantastic CNBC, and I've scarcely got my wording out. My prepared one point to make that had something to do with the afraid of came across rather than the sanctity of fresh discovery this in the context of life and death. How could how could this so called interest rate observing journalists obsess about price discovery in the midst of this public health crisis and I do understand that question, but it seems. Seems to me that that the that the health of our finances the health of our economy is not inconsequential concern of the Federal Reserve which is indeed in business to defend that health, and if what the Fed is doing is to corrupt the way we value investments the way we value investment projects it was that. Is that worrying thing, or is that just collateral damage for this laudable, in fact, necessarily humanitarian impulse kind of the question now. Now part of the role of the markets is to separate companies that are investing in production projects from those that are not prior to the crackup in the markets over a third of the thousand companies. We're actually not generating profit, so a large portion of the market was unprofitable and kept alive from easy money in the last two weeks. We've seen companies like Carnival Corp, which is being hard hit as nobody's booking at cruise right now, Airbnb, AIRBNB issue they've had a pay. High rates AIRBNB I think paid over ten percent spread, and I think Carnival's bonds weren't eleven and a half percent for first priority secure notes twenty twenty three, but they were able to access the markets at rates that they might not have liked with jumping into the junk market. It could lead to more distortions of being unproductive companies alive actually reads the problem of the Fed nothing able to generate inflation which. They, they great question, which the next issue grants will do its best to. to address is all this is inflationary. I mean it would seem to be right. Commonsense would say that when the economy is contracting rate of twenty percent or so annualized rate, twenty percent, or so wherever it happens to be when the money supply broad based money supply of what we used to call 'em. Three is expanding annual rate of. Call twelve or fifteen percent is you know? Is that inflationary Y- inflationary when the Treasury issues a lot of debt, the Fed is monetize. Thing is that these things were known to be inflation this this was as simple as two plus two makes four in the day, but there is nothing like years indeed decades of favorable investment experience, the holders of Fixed Income Securities to navigate those seeming truisms and to. To cast into doubt, the capacity of any kind of monetary policy in the developed economy to generate unwanted inflation, charon talent is not say speechless that portion of it that I read and I hope retained is that this is going to be a safe thing to do with regard quality of the money? They produced on our friends. That toys into investment management has been a life winter in their crawl year. Since the late eighties. Band for longer than that of anti-smoking now Aleksey together? must read. This letter is available on the web a licensing investment they contend that not even these initiatives they don't talk about today's, but up until today's not even the most astonishing interventions by central bank on inflationary, because they they left reasons this the the rate of turnover. Velocity of money will not increase because the world has no use for new debt that we have is quite sufficient. In fact, there's too much of it. Say Bay and. He's balances defect rate will nearly lie idle, and was have more debt and more deflation and still lower interest rates. That's the story so that that is the analysis from people who have profited mightily, but their line of thinking this actually ties into something that happened today that I think is getting less attention than hoisting tennis, told you and me in the past that one that recently about his bookcase on bonds, is the direct monetization of a of of Mon Monetary Theory where essentially the treasury calls up the Central, bank, issues, dead and just fund's spending adding tonight him. Him I'm to read two sentences from the Financial Times today. In a statement to the financial markets on Thursday, government announced that it would signs. The government's bank account at the central bank known historically the ways and means ability which normally stands at just three hundred and seventy million pounds. This will rise effectively to an unlimited amount allowing ministers to spend in the short term without having to tap the gilts market so essentially. The Bank of England is now just directly monetize ing the English treasuries. issue the the new chairman of the Bank of England governor. That only days ago, rejected the idea of direct monetization. I think he did got in general actually according to the same story although at bank, of England, Governor Andrew Bailey monetary financing earlier this week. It was just a few days ago, that He. Does. Feel you had a story in a D G The a couple of days ago. Quoting our friends at capital form, predicting the would eventually get into the business of buying junk bonds a certain kind. Of Behold, it came to pass. Yes, that was The report I believe issued Friday night, and they they cited specifically the idea that fallen angels that were investment grade before events of of of March would would would be eligible and Lo and behold. It has come to pass less than a week later. Perspective, hundred years ago, there was this influence pandemic and It was usually costly American. Life, C., five, zero point, six, five, or so percent of the population died, country was a one, hundred, five or ten million people I think the death toll was up six hundred and fifty thousand gruesome. You're hard pressed to find the evidence of that in the macroeconomic data it then we're. We're compiled and circulated no doubt those data leave much to be desired, but the best record in writing stories is Mike. Why scanty the the world suffered millions of deaths, America at the time was born fall nineteen march through all nineteen eighteen, and then into early nineteen, the Fed kept the discount rate about four percent long day to treasuries were likewise it for more. Time I suppose and certainly wartime. You kindly was not about to be shut down by federal voter, but fast for two hundred years and I think it's fair to say we got much less technical, and we are certainly much more ready to accept wholesale interventions and subjugation by our authorities, whether it be orders from the governor of the state of New York dog. Run the show. No longer be allowed to. To Open city limits or whether prices ought to find their own level. If you're talking about finances is a very different world. Arguably a I guess people would say it's more humane world you take much greater much greater notice, suffering, and we do our best collectively alleviated. I wonder gentleman I wonder if love and youth and spring will not overcome our politicians I say this with specific reference to New York City official who? Who draw the veil of charity over his name, he was on twitter. You can stuff with the laws of his octogenarian mother, who says the president has on his pants or having messed up this virus thing I guess the implication. Is We all stay in place indefinitely or longer, but I don't know I think that evident field people your age out to bust out and get on with the business of living so. So I have I dedicate part of this podcast to love and youth and Spring and the hope that the the impulsive vibrancy you will rescue us all somewhat morbid and mawkish grip of our aging politicians that way. That was a little editorial side Hey. You know this this settlement or shelter in place, but all that I mean I I want. My wife Tricia still let you mother I. Don't respect your. I but Patricia, the former Patricia, cavenaugh. MD and and and I watched a movie the other night Eric. Even for your time. This is this is Lawrence of Arabia came out in nineteen, sixty, or so an Anthony Quinn plays the character of what are the The chieftains that one of the scenes in the movie has to do with with Quinn and it has been strumming some. Some Turkish citadel and they a come onto the the route where the money is, they were promised they were promised to be a of loose in this particular place in the Oval Rant, and so Quinn goes up and opens a safe and all I can find his paper now. Quinn was expecting goal of course that being money, and there's a great scene of Anthony Quinn character fund raising. The SEC money, so I commend Lawrence of Arabia to viewers, even as I commend what else we reading material and movies I. Commend for h four, one, eight, four one is fed weekly statistical releases called rather forbiddingly factors affecting reserve balances, but you know you financial folk there no, as a balance sheet and see this. We look at southern. Reserve Bank credit. which is some of the Fed's earning s it you know Treasury Bills Notes Bonds Federal Agency debt securities, and all matter other treatise, it won't have become. Conspicuous in the balance sheet, but footed to five point six trillion. That's up from what four point four twenty, the start of the year and I think. Back, rock is now projecting ten trillion for the year's end. Before the latest two point, three trillion, a new lending facilities. Yeah, I was GONNA. Say Black Rock and the piker I wonder if Larry is books, take exception to any of the environmental social and governance aspects of the NFL are valid. She took. It doesn't seem very green to well. On the contrary, it seems emerald so much money and so little effort I've fact now. It's even a little bit. This is the greenest nationalist which you can imagine. They create credit with like a smoke stack involved. Gentlemen hardly think so any manufacturing operations that require capital. You know. How do they create Credit Eric? Eric Whitehead well usually right? Okay So I'm thinking that the what's away before we let our readers. Go perhaps. Less entertaining more substantive tasks day like you know like doing their jobs. What have you guys? How have you feel and Evan? How have you put this time a shelter in place to profit? What what things have you discovered was for example, a monetarily deemed adventure, movies or something like that? You'll be contribute to our listeners. While I can't. I can't top the warrants of Arabia on terms of relevance, but I have to make note of the Sun. The recently deceased country singer John Prion, who was not aware of his work, he died unfortunately a few days ago from the virus, but just a terrific terrific musician in an Eilly recommended and the New York Times of. of his is also terrific. Let me just bring this up. There's a one one of his remarks at the Times. Captured think is Germain, he says the this the an interview with the Daily Telegraph in two thousand thirteen John. Prime has quote. I guess what I always found. Funny was the human condition. There's a certain comedy and Pathos to trouble in accidents so I don't know. It, very interesting character, and did I highly recommend okay. I'm. GonNa contribute. Something to I I was driving. A swing gets the Wall Street Journal which. Charlie grant works for. Grant. Hours and Got Read The Wall Street Journal constructive rights for it, but on the way I turned on the serious to the jazz ditch I heard. I heard that to call social call by Bennie been the third now. There's a name Ben even. Baseball player that name Benny, but third along with Franca Swift social call that's under saying just listen to. It is a marvel and I had no idea if anyone existed. He's a trumpet player as well, Fabulous. Martell more salads things so do you have any contribute to the well-being in use usenet of our listeners in this time of fat monetary amazement. Sense LTV foods says age remarkably well and be. It's nice to see New Yorkers out enough homes. What's the Urine Brook? No, I'm in Brooklyn. Yeah, what's the? What's the street traffic like is? It is love, youth and spring conquering mawkish. Command and control. It's pretty empty out here. I've been talking about. Manager of my building about half. My buildings actually take it. Back is free. Rein to like if you were gonNA. Do some burglaries right? Yeah I'M NOT GONNA get my Zach. All right well. I had to I guess we have taken care of the agenda today I wanted to emphasize it. despite difficulty of times we have ron subscriptions and Eric Whitehead intrepid -Ly as you know intrepid chapters in the office day along with Phil and they are standing by to process your government checks, so please send them in to subscribing grants for a year, and after that I. Dare say you'll be around for many years. That's been our experience and so. Thank you for listening and I guess we're GONNA. See your shoe curious so i. took that Jim Grant. I'd be hassles correct yield.

Federal Reserve Eric Whitehead the Times Phil Grant treasury Evan Lorenzo Treasury chairman W. Twenty twenty Larry treasuries Alexa America Anthony Quinn People's Republic Long Island Arabia Smithtown Bank of England Airbnb
The Price You Pay for College

Slate Money

51:13 min | 3 months ago

The Price You Pay for College

"Hi welcome to the price you pay for college episode of slate money. The podcast that gives you the business and finance news of the week. I'm feel examined of axios. I'm here with an inch ascii of breaking news. I'm here with. Emily becca huffpost. Hello and we have flom the new york times. Mr ron lieber welcome run. It's great to be back. I think last time you're on the show. We were talking about airline miles or something like that but this time you have a whole book out what is your book about. The book is about who pays what and why for college how. The system became so complicated and opaque and when if ever anybody ought to pay up to two hundred thousand dollars more for a college education than whatever it is that their flagship state university is chart. We are going to dive into very subject here on slate money. We're gonna talk about what it means parental finances. We're going to talk about student. Loan relief which is a big thing on capitol hill. Right now we are also going to talk about another one of your investigations which we have going on right now into how to get. Vaccinated against covid has relevance to everyone. So all of that coming up on slate money. This podcast is brought to you by. Td ameritrade investing isn't one-size-fits-all every investor has unique style. That's why td ameritrade offers two different mobile apps. There's td ameritrade mobile. Which lets you manage your portfolio with streamlined. Simplicity or or swim mobile. Which gives you the tools you need. More advanced trades and in-depth analysis visit td ameritrade dot com slash apps to find the one. That's right for you once again dots. Td ameritrade dot com slash apps. You finally decided to learn how to ice skate. So you order the essentials. Every ice skater needs a pair of plates. And you helmet and a good set of kneepads and you used your bank of america. Cash rewards credit card choosing to earn three percent cashback online shopping rewards that you put towards the cost of an essential piece of posts skating recovery a heating pad visit bank of america dot com slash more rewarding to apply now copyright twenty twenty bank of america corporation so run you have obviously been working on this book about paying for college for awhile since long before the pandemic hit a now. Suddenly the pandemic seems to have turned the entire question about paying for college. And whether you should even go to college on its head. has anything changed permanently. Do you think. I don't think that anything has changed permanently. I mean here's how. I see it three reasons to go to college. You go to college for the education to college for the kinship. You go to college for the credential right so when everybody went home last march the education got really bad really fast which is not the fault of the institutions. Nobody was ready for this or saw it coming but the education was nowhere like what it once was the opportunities for making friends and finding mentors that obviously you know went by the wayside to bet as well and so the other thing that was left was the sheepskin which came electronically or in a plain brown envelope and not with pomp and circumstance on the quad in may and so much of what people used to pay for was essentially stripped away. And so is it any great surprise. That teenagers came flocking back in september. Two very compromise situations and were willing to pay effectively. What they paid before. It actually wasn't surprising to me because we've come to see this. You know residential undergraduate education experience as a sort of rite of passage in the united states. And i don't see any freight train of technology coming on the tracks that's going to blow all that to smithereens if anything. I'm wondering if the pandemic experience showed people that actually being in physical proximity to other people and teachers is actually really important. Despite what some people might say well. Here's the thing about that right for all of the intellectual and research prowess at these institutions. They are remarkably on curious about themselves. We don't know very much about how people learn and what people learn and how much they learn and makes for an ultimately satisfying undergraduate educational experience. it's almost as if they're afraid to find out right but if you look at what's opposed experts are saying in public right The president of spelman college wrote just a searing essay in the new york times in the spring about all that had been lost academically when everybody went home it's just taken as a given jonathan's zimmerman at penn just wrote a book about teaching called the amateur hour right which gives you some sense of how well he thinks he was trained right and you know given that the state of undergraduate teaching is uneven in general when you throw a bunch of middle aged professors into zoom room right. It's not necessarily gonna get better. It sounds like the pandemic didn't do much to tamp down. Demand for college like customers came flocking back in september. Like you said ron but what about financial consequences for the schools. Is there anything that we need to be thinking about or worried about especially for public schools. Now that the pandemic's economic consequences have been so grave so the trouble tends to start for the public institutions roughly twenty four months after any recession. It takes a while for the the systems kind of gears to to creek into action right because what needs to happen when a bunch of people lose their jobs for the domino's to start to fall is the tax revenues need to and then budgets need to be adjusted for the following year and then the universities themselves need to adjust their prices which can take twelve months in a cycle. So you know two years later you start to see the after effects and you know it it absolutely. You know went down in a really severe way during the last recession but it is unclear. What will see this time right. 'cause every recession is different and you know the market for higher education might be a little different right now too but the effects will be non zero for public institutions. That's absolutely right and private institutions to write those a lot of hand-wringing about how the big cash cow universities in general across the united states. And all of them but many of them was foreign students who invariably pay full whack. Obviously no foreign students come into crossing borders right now and it's not clear when or whether they might start doing that again. How how big of an impact is that going to have the loss of revenue from full pain. International students has been a a real factor for these higher education institutions. Wow did they have a good week right. I mean it may be a year until nineteen year olds You know in the developed world. You know have nielsen. Their arms on. But it's not going to be four more years of donald trump making them feel completely unwelcome and so they are stoked to use an academic term and the muslim ban has already been overturned. So that's step one and could you maybe explain a little bit about what actually happened at universities and their finances and how that affected financial aid after the financial crisis sure. Well let's start with the private institutions. The richer ones have large endowments. And you know if you're endowment falls by twenty or thirty or forty percent over the course of a year or two that means that it throws off less income and you have less money to spend on things like financial aid and so you have to make a decision as an institution you know how you allocate limited resources and you know. In many instances there were schools that used to admit people with out any consideration for their ability to pay who then had to make an adjustment right or maybe like the last quarter of the class. You know if you could write a check for seventy thousand dollars. You might have a better chance of getting it. Lower down the food chain. There were schools just had more trouble getting bodies in the door right because americans were suffering a lot of people use home equity and borrow against home equity to pay for college. The banks were cutting people off fifty percent of equity was disappearing and some parts of the country and it was. It was a real mess. And the way in which some colleges response to that was just discount further not based so much on the ability to pay but just sort of coupon to get people in the door. So how will it work this time. It's not completely clear. I mean it's a very different recession and there are lots of people especially educated people which people with degrees are more likely to send their kids to get degrees. Those people are better off than they were. Twelve months ago economically for the most part the market has gone up there. Five twenty nine college savings plans have gone up. Their incomes of stayed intact in many instances. They're not spending on fancy clothing or you know going away for the weekend or for the week and so you know. It's possible that those folks have more money to spend and might be more likely to invest it in a fancier more expensive Institution that might provide a sort of forced field shield of protection for their twenty two year. Old i mean you you can see how people talk themselves into things. The world looks very scary outside their window. So i'm fascinated by this concept of what you just called the food chain and the top tier Balsam did that kind of thing. One of the things that really jumped out at me. The main thing that really jumped out at me from your book is this idea that universities really do compete on price and that different universities have different light glaring crisis. The there's a revealed preference at each university in terms of how much people are willing and able to pay to send their kids and that number is different from university to university. Oviously like it's higher. Us's is some place in alabama that we've never heard of and universities have an incredibly sophisticated an incredibly opaque system basically like airline seats. Everyone pace something slightly different. No one knows how much anyone else's paying and this. I think cuts against the impression that i had before i read your book. The universities largely price like this is the price. And this is how much you're going to have to pay. And if you wanna come here this is the bill and it turns out to be much more reactive to demand and so i have two questions i if which is like does this basically mean that universities don't have any real room to raise prices because they've already been trying to most of the night the bottom ninety five percent of them have already been trying to sort of maximize revenues anyway. And secondly do you think this revealed preference people express in terms of willingness to pay for this university rather than that university. Does that correlate significantly with those three things. You're talking about earlier. The education that credential friends you make along the way those clearly or implicitly better the more expensive institutions. so i feel you're describing the world's as i would like to see it and as i would like people to act in it but what we're really talking about here is a world governed by snobbery and elitism and pride and shame right. So how does that work right. What are we talking about here. Well the thing that i was most fascinated by. It's sort of corollary to what you're talking about is that i wanted to explore the part of the market where the ability to pay was crashing into the willingness to pay. So we're just gonna like name. Check some schools here. You know if you look at like the twenty fifth most selective college or university in the united states. If you're like spot twenty five selectivity maybe you're colby college in maine. Colby is really worried that it is going to have an oberland problem. So what does the oberland problem. The overland problem is that ten or fifteen years ago maybe twenty now people in the midwest in particular decided that while they had the ability to pay for oakland they were no going to have the willingness to pay full price and that was because all of the other small liberal arts colleges in ohio had already made the decision to give out coupons including to the affluent to try and sort of induce the smart set to come there and over the had sort of fold and begin to offer discounting as well. Oberlin was one of tiny number of institutions. That flat out refused to talk to me about this. They want nothing to do with this conversation. Are they ashamed. Are they embarrassed to be participating in what is essentially red blood capitalism discounting even though they're nonprofit institution i dunno. They won't say. But if i'm the president of colby college i am worried sick right now because in my sports league connecticut college in the last couple of years has started aggressively using merit right. And so you know. Kobe's more selective institution but you know. Now we're competing in the same sports league for lacrosse players. Who can get twenty thousand dollar coupon for going to new london instead of being in waterville maine and the market is eroding. But right you asked about pricing power. Just down the road for colby. In the same day. I met with the president of bowdoin college the president of bates and they just sort of like blakely tossed off the fact that they're headed to a one hundred thousand dollars a year lists bryson eight or nine years and the president of bowdoin is also on the board of bank of america. I mean he's no elbow patched slouch when it comes to understanding pricing and economics and he should assume it's going to happen and why is it going to happen. Well if you look at the demography here you see that because of inequality i actually going to be more people. Not a ton more. But they're going to be more with the ability to pay full price. And what are we gonna pay full price for in america and around the world. We're gonna pay full price for our children to sort of reflect back what felix just said and some of my feelings reading your book ron. Because the conclusion. I came to just college in the united states is kind of a scam. It should be free and no one knows how much it costs like. You've come close to figuring it out. But i mean the guidance to parents in the book my oldest is twelve so i have some time. I guess but is just like the research. It's gonna take to figure out how much it costs to send my son to school. It seems overwhelming to me. And you have a quote from someone in the book College admissions guy. Who says what else do you buy. Where you don't know the prices until you've already limited your choices. And i couldn't really think of anything as opaque as this at the same time as important as this and as elitist as this is it's just like a whirlwind of unfair and outrageous facts in a book is what you've done without the solutions chapter late by the way to beat the be clear about this coming in. This is how to fix it. You're just saying it's broken. He has advice on navigating. Yeah mean. I'm no policy guy right. I mean this is the role. I play in the newspaper to the new york times. I'm here to tell you about how to live and win in in the world that we live in. But i'm not smart enough to solve the problem for people but i like the way you frame it and there is another question that gets asked rhetorically but should not. And in retrospect i wish i put it in the book but i didn't in part because it was uttered to me off the record by somebody who i have previous relationship with. But let's just say. He is a pretty fancy academic dean at a pretty fancy school that is able to command full more than most and so he was sort of grilling me. Like why are you coming for us. Ron what's going to happen here. Are you like holding the pitchfork. So i sort of fill in right. He says to me you know he's got two kids right Makes a good living but definitely in the part of the market with his income where the ability and the willingness to pay might be clashing. He says i don't know he says. What else are we going to do with our money. You do make the point in the book as well that while this can differ if students do go to college and finish and finish within four years for the average student the return on that investment is is not bad oh shit making the investment. That parents are well well actually. Some kids are going debt. They're going to debt for thirty thirty thousand dollars on average. But you know. I think it is important to frame the parenting question. Almost like in the in the same larger frame as the as the financial planning one right. Because you know the the way dean friend of mind Put it right he i. I sort of wanted to have a whole conversation with him about it right. Well okay. what what. What else are we going to spend the money on. Well you know if you're an upper middle class person who has everything they need and some of what they want what you actually do with one hundred thousand dollars you might save by sending your kid to ohio state instead of denison right. Are you going to take one hundred thousand dollars away from your child. Who desperately wants to go to denison and so you can it for your 401k. Or you upgrade your kitchen. Are you upgrade your kitchen. Yes right or are you going daveramsey. Are you going to actually invest in that child who you are hoping to launch into the world with a whole bunch of rocket boosters and whom you have like sort of loved and cherished and taking care of for eighteen years i have it is very emotional children but i'd give my kid that money to buy a house you know and raise a family and you know there's lots of stuff. I could do to help my kid with the money that you could do that. And i'll tell you exactly what will happen. Because i essentially bore witness to one of these conversations where you know the the parents said look you know the difference between and this was interesting. This was a it was an out of state public that was going to be super expensive and a very good private was offering a fantastic package of merit aid money. Not based on need and they said look you know this is going to be the difference right if you go to the state public. This is going to be the difference between us being able to go on vacation for the next five years is gonna be the difference us doing a whole bunch of things that we might wanna do and she burst into tears. She said you're bribing and they were with that. I want to ask the question. The anna pointed to about sometimes people pay for college on that night in. Let's say in this situation right you know. There's one hundred thousand dollar difference between this college and that college unless say my parents say okay. I want that one hundred thousand dollars for your future house and all my kitchen. And so i have made the decision that the parental contribution here is going to be enough to get you into the cheaper one not enough to get you into the more expensive one that point. Does this eighteen year. Old kid actually have the ability to go to the more expensive one. No no not in india. Mediate moment right. So you need to think about if you're eighteen and you're trying to work this out. I let me let me temper that not necessarily right here. All the factors play and vis-a-vis. What emily was talking about visa. You know about the complexity man. Is this complex. It's complex question felix so here all the things in play as an undergraduate dependent student. You can borrow up to you know. Call it thirty one or thirty two thousand dollars a year so you can get access to that right above and beyond the call at one hundred thousand dollars that your parents will pay. You can make money right. Maybe ten or fifteen thousand dollars a year after taxes. If you work fulltime during the summer and ten or fifteen hours a week during the school year maybe work a little bit more. Maybe find a higher paying gig and you can do a little better than that. So there's money that you can generate there if that's still not enough and you happen to go to purdue university you can sign something called an income sharing agreement which means the lender in effect just grabs four percent of your paycheck for ten or twenty years until that part of your obligation is paid off. You could take a gap year or two right and just work eighty hours a week and save all the money and hopefully your parents will let you live at home and maybe that you know put forty thousand dollars in the bank or you know about how things work and your parents actually have this conversation with you when you're an eighth grade. Emily going are now. No nobody okay in eighth grade. You can say to them. Look we are only good for one hundred thousand dollars. You're an incredible student. I'm so here's what you're going to do. Even though you might be on a trajectory for the ivy league we were willing to pay for it. Were not so well you should really do. Right is is shoot for oberlin. Which doesn't wanna talk about it right but they will discount from three hundred thousand dollars to two hundred thousand dollars. Maybe because you are a lights out student so you can earn your way into a discount right in that plus the debt plus the gap year. Right plus maybe. An income sharing agreement comes to overland ohio by then might equal the extra hundred thousand dollars you need above and beyond the hundred thousand dollars that we're willing to give you so you can go to oberlin instead of ohio state. That's how it works. I just threw up in my mouth a little bit. I knew i could make you throw up. Thank you ron slate. Money is sponsored. This week by ziprecruiter. It's a new year the new president. It's a new outlook on life. And it's probably a good time to reassess your business goals for twenty twenty one and determine the resources especially the human resources you're going to need to achieve those goals. 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Which i know you said it's not your thing but it's definitely the talk of washington right now. It seems probable that some amount of student debt is going to get forgiven by the biden administration and congress. Somehow it might be ten thousand dollars. It might be fifteen thousand dollars if you listen to see someone that would be like all of it. Would any of that have any impact on anybody except just people who have the debt forgiven with that. Changed the landscape until well the danger when you do something like that is that it may per swayed some people or commit some people Wrongfully who are coming into the system. That debt cancellation will become a semi permanent feature of how we do things in america. Now the fact of the matter is permanent debt cancellation already his a feature of how we do things in america when it comes to student loans. We just don't talk about it. That way the messiness of the politics here right. And i think the reason why the biden administration does not want to do any through an executive order. Is they. don't want another one of those rick santelli moments. Remember that back crazy. Nba guy yelling on the on the floor of the chicago board of mona's exactly undeserving homeowners. Getting you know getting rescued right now. Many of those homeowners did not have college degrees who are getting rescued. but now we're gonna do debt cancellation for people. Who are doctors really. We're gonna do it across the board. We're not gonna put an income cap on it just to keep it simple. I get the policy reasons for doing it across the board but the politics have the potential to be ugly right. But we don't talk about right. Is that. We already have an enormous public service. Loan forgiveness program as part of the federal student loan burn. It doesn't work very well but we have it. We have something like four hundred billion with a b four hundred billion of the one point seven trillion dollars in student. Loan debt is like on a trajectory to also be cancelled because it's an income driven repayment program. Where at the end of twenty or twenty. Five years of you're not paying it back. At a high enough rate it just gets cancelled by the government. Sort of like you've done enough we'll let you go. We'll tax you on that forgiven debt. But you can go now right so like a quarter of the outstanding student loan debt is already going to be forgiven and we don't talk about it that way rick. Santelli doesn't talk about it. That way guarantee you that i think instead of cancelling student debt. If you're thinking seriously about public policy the proposals to make public universities free are the ones to watch. I mean that would be game changing for so many people and go a long way in solving. What is the inherent problem. Which is that colleges and universities. Pretend to be meritocracy is but they're actually just elitist institutions that favour wealthy people and upper middle class people. They give discounts to people with money. As ron explains in his book which is so frustrating as we know from a conversation with daniel. Markovits made you know. Uc berkeley free. It would still be just as elitist and probably even more because that'd be even more competition to get into it and ultra highly educated elites have the ability to get into those institutions but then there would still be a sorting where those ultra wealthy elites would still want to go to the overland's or to harvard or yale or you know to the non public schools right for free. Yeah 'cause they'll it's it's still a credential that means so much. I mean ron expand his book and we all know like if you've gone to harvard you have the edge over pretty much everyone else in the country when of job market in terms of wealth in the future like it's it's everything so people still pay money for that. Do you believe that. Emily or do you believe that's only true in certain segments of the economy. I don't think that's true. I think daniel markovits actually had data sharing. It's not true in my experience. It is true. I went to a state school. Undergrad and then i went to columbia for a year and i could see the difference in how i was treated and opportunities it was just it was a world of difference and i see it in in the in the journalism world. At least where everyone's got you know a lot of people the most successful the ones at the most prestigious publications have typically ivy league degrees. I mean look at the government look as supreme court look at who gets to be president. I mean on and on and on and on the most fancy people in the country usually have gone to an ivy league school. Fancy that were the fancy tried so hard to avoid using the word the price you pay for college but what you're what you're talking about. Emily is talking about snobbery. You're talking about elitism. You're also talking about pedigree. there's a kellogg. Professor named lauren rivera. Who's actually going to grill me at one of my book events next week i cannot wait. She did this terrific. Bit of like stunts sociological reporting. Where she embedded in a super elite. I'm pretty sure as a management consulting firm reading between the lines and just listened in as these interviewers who are twenty six railed on the choices of twenty one year olds who had gone to brown instead of princeton or had gone to cornell instead of brown. And we're like what could these people have been thinking right and there's no no awareness at all of how they sounded also know wariness of the fact that somebody might choose one ivy league school over the other because the need based financial aid package is like ten thousand dollars a year better and their parents their immigrant parents might not have had to go into debt depending on right. And it's like these. These people can't even imagine that choice even within the ivy league. Let alone the choice of somebody who might take the full ride at usc. Over a place on the williams across name. Although i would say that while it is. I think it is certainly true. That in some of the most elite of the elite industries and companies and especially first jobs having an ivy league degree and especially having a harvard yale princeton. or i guess also stanford you'd probably they're not that makes a big difference and it obviously does but i don't think that that is necessarily true for every extremely well paid job. I think anyone who's ever done hiring knows that that like yes. It is true that if you have that ivy league degree you will probably get an interview and that is a big deal because when you have lots and lots of resumes like that's a big deal but it doesn't mean you'll get the job. I think you're right on the whole but here is what i am curious about tonight. You know generated all the state and the book where it is just absolutely the case that you know thirty forty fifty sixty percent of the baseball general managers and the you know the kids get money from y combinator for their startups and macarthur fellows and people on the hill. Us percentage of them come from the forty five schools in the united states where the undergraduates had the highest average. Sat scores. this is true. it's a demonstrable fact. But i don't know about you all i would just say generally as i wander around in new york city there's way more skepticism about twenty two year olds coming out of the ivy league than there has been by a long long way in my twenty five years in new york and i would venture to say that you know in other elite or elite adjacent parts of the country You know industries or geographies. Some of the same thing is true right. i mean. isn't there more of a taste at least in progressive hiring circles for the underdog than there used to be definitely. and we're looking at people like josh hawley. You know who's harvard and yale and click the supreme court and is suddenly trying to pretend to be a man of the people in your life. Yeah now this is all kind of bullshit. So with any luck your book will help reveal. Just how kind of bullshit. All of that is slate. Money is sponsored this week by gave well who wants to say banks because get this podcast listeners. Just like you gave over one and a half million dollars to the cost. Effective evidence based guarantees give will recommends in two thousand twenty so in twenty twenty one give well is encouraging you to keep that giving spirit alive by doing a monthly donation any listener and you monthly donation by the end of february will have your first month matched up to two hundred and fifty dollars so whether you're in utah. Well all all ready donor any listener. Who starts a new monthly donation by the end of february will have first month match up to two hundred. Fifty dollars. Doesn't matter how much money you've given to give in the pasta. Do not need to be new. Just done a monthly donation to have your donation matched just go to give. Well talk walk slash money. Choose to give monthly and pick pack your donation matched just go to give well dot org slash money. Choose to give monthly and pick podcast and slate money at checkout. Thanks again for having given what money in two thousand and twenty. We'll see if we can if you're going in twenty twenty one at give well dot org slash money slash podcast and sleep money at checkout slate. Money is sponsored. This week by business was a new podcast about a four hundred and twenty billion dollar industry. The moon landing was a long time ago and it was a government project. Nasa was part of the government and the private sector when it was thought about space exploration really just throwing few satellites into orbit that was about but in the past twenty years as a whole new breed a space enterprise with them bishen ripped from the pages of scifi novels. Business was gives you the unauthorized real story of one of the biggest rivalries. In the world. Right now spacex his blue origin. hilo not specify jeffries. The first episode of this spacex blue origin series focuses on the events leading up to the founding of companies that would ignite the corporate space race touches on everything from nasa russian. Business deals space. Ice helicopter crashes a cowboy so listen to the latest season of business was in space x blue origin on apple podcasts. Spotify or listen ad free in the wondering wondering feel the story. I do want to change the subject completely though and talk about this other thing you've biting about which is vaccine distribution which looks like it's completely chaotic. But somehow getting better. I want to ask you. Is there a right way in a wrong way to do it. Some people who are doing it the right way in some people who are doing it the wrong way felix. You're trying to trick me into Answering a policy question. When what i really am is just a just a bull headed logistics guy right. I mean my beat is beating the system. right. I grew up in line outside of rose records in chicago waiting for like the on sale moment for the journey. Tickets a ticket tron. Like i know how to bust through those ticketing systems. I know how to get the business class ticket. The only free seat on the flight with my frequent flyer miles to hong kong. Or whatever like all of those skills were made for this moment. I was built to help people crack the you know. Get me a vaccine slot legally but like make sure. I'm the first one to to get one. I was built for this moment. It was why. I was called on to write the how to get a vaccine in new york city guy that and i was glad to do it but in terms of like how could we have done a better. Well you know. It's still a little bit of a mystery to me why we did not stand up kind of like more and better extra large centralized vaccination hubs but then you have to ask yourself all right well who is responsible for that today. It's mostly like the states in the counties and the cities who should be responsible for that. Well people who should be responsible for it or the people with the most money and the entity with the most money is the federal government right so you let all the states fend for themselves. And the states are distracted with other aspects of the pandemic and they've all lost ten or fifteen percent of their tax revenue. And and then you get a goat rodeo right. what do you expect you're going to get. I think we've probably all agree that if we had had a competent federal government last number of months that would have probably made a significant difference in hopefully moving forward. That will get better. But i do think that there can be some arguments made that certain states seem to be doing things maybe a little bit better than others and partly like i think new york early on the idea of this like really strict rules for who could and could not get. That accent was probably not the best way to go. Well i don't know right so in addition to writing about this. I'm living at personally. Running back seen ops for a household in florida helping you know. Run it for My mom in chicago I've seen it with my in laws here in new york siblings and siblings in law. Where like all working the system and y- florida and illinois are actually pretty interesting. Contrast york is kind of more in the middle. You know. Florida just opened the floodgates and i assume it was for political reasons right to santa's rules a You know relatively purple state and old people vote and they were one of the first states to just throw the barn door's open kind of willy. Nilly and then you had a bunch of sixty seven year olds in camping gear. As you know poor things overnight and fifty degrees overnight weather in florida it's really roughing down there but you know the ones who are the ones who were hardy enough. Were able to get out and stay up all night and be the first one in line for their further jabs right. But what we're seeing now. Is that florida is having incredible shortages in my father's dying of aol s. He's got full-time caregivers. They're hard one. Nine mean extremely hard. One vaccine deployments were just yanked because they ran out of aisles right and like what the hell are we supposed to do now from here. Is there an efficient and effective way of doing that. That maybe some state has found that the federal government can say Does state seems. We've got it right. We can now scale that for the rest of the country. I'm not sure who's doing the best job in a bad situation But that state is out there somewhere right and we can almost certainly learned something from israel right right. Well it depends how much you wanna talk about the equity issues in that country right. Ron can you quickly tell us how to do. Vaccine ops are. Do you have any quick tips. Listening to spend time on the internet. Well felix pretty pretty much. Hit it right. it's like No you have to have a lot of privilege. You have to have the technology you have to be you know reasonably fluent with it and you have to have the time to just like war. Dial these things right. Just pound away at the websites. There are already third party software box that you can download that will scrape the sights. Every you know seventeen milliseconds you know looking for openings. It's not clear how those work the new york times security department declined to allow us to test them because they thought there was sketchy. But you know that that stuff is out there right. You can pay unemployed twenty-three-year-old bartender who lost his or her job to do it for you. This thing that's happening right. So you know privilege privilege privilege but the other thing the other thing that's important to note there are civic minded communitarian people all over the country even in florida surprisingly so as much as i love to rag on florida. Who are all kind of ganging up in facebook groups private facebook roots but groups at anybody that can join in everybody's kind of sharing information and swapping tips and i mean. Thank god for these south florida. Cova nineteen vaccine group. I think that's what is called. Somebody tipped us off and it has just been incredible wealth of information. So if you're trying to sort this out in say l. A. county right where it's been difficult for the old people and they waited long time to let them in. Start yourself a facebook group or just get a texas chain going with all of your friends who are like geeked out personal finance nuts. Who always seem to like. Know how to crack impenetrable systems and get them on a text chain all the ones who have aging parents or healthcare workers and king. There's lots and just like former gang. This is obviously a sample size of one. But my mom got the vaccine last week or this week and basically she said it. The website was slightly annoying and it took like hermit had like a little bit to figure it out but they figured it out within maybe like forty five minutes. She got her vaccine appointment. She got her vaccine. But i'm seventy five so she was in a group that was prioritized michigan but like it wasn't actually harder than that. You're incredibly lucky. Or maybe people like me who lived solve problems and shine light on them are paying too much attention to the dysfunction. But i don't think so. I think things are things are way better for folks who live where your mom lives than they are in new york or chicago or florida or the southern new. I just got an email from my physician saying you know all that vaccine that we said we were getting in. Yeah we're not getting so you had an appointment you're getting. Yeah i mean. I'm pretty much anchored to the jewish holidays at this point. I feel like if i've got a needle in my arm by september. I'll be happy. Let's have a numbers round. My number is fifty eight billion dollars. Which is the amount that the market capitalization of alibaba went up after a one minute. Video of jack. Ma saying nothing in particular to chinese school teaches appeared on the internet. There was literally nothing. He said that moved his company's stock up fifty eight billion dollars except for the fact that he was alive and on the internet. And you know sort of proof of life and that apparently is worth fifty eight billion dollars. We don't know if he has any actual control of his company right now or what. The chinese government is letting him do and not letting him do but just being alive fifty. Eight billion dollars still alive emily. My number is ten. That is ten for the ten hours. A day that indigenous hunter gatherers spend sitting. I listen really good interview with a guy named daniel lieberman. Who's a professor of evolutionary biology at harvard. That was on fresh air. While i was jogging this morning he was talking about this idea that everyone likes to to lament about now that we are going to die because we all sit too much you know like sitting the new smoking kind of a thing and he was like actually it's fine and then he said he's gone to all these places and studied indigenous people and like they sit all the time to it was very reassuring especially now in the pandemic when we're all like so sedentary and he did say one key thing to know. Is that you if you are sitting for long stretches and we know this. It's really effective. If you just get up and do a thing like not or anything just get per second. And it's the health benefits of kick in a little bit so i think people should feel reassured by this. I might read his book even all the problem. Maybe do you have a number i do. It's a hundred and forty four. The london metal exchange commodities pit is officially closed. The open cry hit that has existed for one hundred. Forty four years is now officially done. It had obviously closed down in march last march because of the pandemic but now they've said they are one hundred percent going to go to electronic like basically everybody else has but Of course you've had people who've said oh no this. Is this wonderful tradition. And it's like no actually it makes absolutely no sense and this should have probably happened to while ago. That's basically the scene at the end of trading places right. They crowd around and sheltie together and have the hand signals. That's the last place in the world that happened. Was the london metal exchange a now. That one is dead exactly and it was. It was funny too because they were like they were trying to explain why they should have kept it. They're like well no. We need this because we have these really complex contracts. And you're like yeah because it's a great way to understand complex contracts. Have a bunch of men yelling at each other. All right i run. My number is fifty two as in percent as in discount as in what actually happens at private colleges and universities the nation over that is the average discount rate in the most recent survey for the national association of collegiate and university. Business officers Discounting survey which has done each year right so it is true that there are hundreds and hundreds of families. Pain eighty thousand dollars a year at the university of chicago. It is true that there are thousands of families paying twenty eight thousand dollars a year at the university of illinois but what is actually going on behind the scenes and this is true for eighty nine percent of all undergraduates. There's another number what's actually going on behind the scenes is it. People are getting deals and while the net price that people pay has continued to go up and for public. Schools has gone up at a. You know somewhat alarming rate. It is possible to pay much less than the rack rate for college and most people actually do. Is it reasonable to assume that the higher the rat great the higher the average discount when you get that first official one thousand dollar year tuition fee. That college is going to have a average discount. Probably much more than fifty two percent. Well it will depend their on their commitment to need based financial aid because the schools the charge the most tend to be ones that are most elite and prestigious and therefore they can attract a higher percentage of people who are willing to pay in full and therefore they do not have to give away the merit aid because people are unwilling to pay full price. They only give discounts to the people who need the money. Okay on this. I think that's it for us this week. Thank you ron liba. For coming on the show. It has been illuminating. It's a plaque. Thank you to just molly for producing thank you all for listening. And writing in money dot com. We will have a sleek clus seguin coming up on pardon but otherwise. We'll see you next week on slate money.

ameritrade america bank of america the new york times Emily becca Mr ron lieber twenty twenty bank of america biden administration colby college ron ohio felix
Episode 208: Are We Getting Restless?

The Editors

1:02:40 hr | 1 year ago

Episode 208: Are We Getting Restless?

"Did the virus indeed come from? Chinese lab is the lockdown backlash upon us. And have we overreacted? We'll discuss all this more on this week's edition of the editors Larry and I'm joined as always by the right honorable Charles. Cw Cook and sage of authenticity woods. Jim Garrity the notorious. Nbd will return. Soon you're listening to a national view. Podcast sponsor this week. Is the Boston group or about them and do chorus if you listen to podcasts on national review DOT COM or delayed heavy. But easier for you and better for us if you made us part of your feet at any of the stream services out there from spotify to. It owns and feel like this podcast. Please give us a five star review on itunes. If you don't like this podcast please forget I said anything so Jim Garrity. Were you doing at dances of vindication in your Home Office when word came I think it was during a trump briefing two or three days ago her recording Friday afternoon? When John Roberts and a question broke the news that Fox had had reports had done reporting that said sources In the government had concluded or are tend to believe that this virus did indeed escape from Chinese lab in an accident and one source characterize it as perhaps the most catastrophic government cover up of all time. Well first of all. I think that assessment is accurate. I didn't do enormous dancing because I don't dance very much. I also would have been nice. If obviously you know on the record sources would have been nice a little more specification about who these sources were wasn't even government sources. It was just sources But that having been said This line up with various other reports David Ignatius column. And things like that and you know enough to in my own horn here but you know I felt like what I laid out so far Put together a lot of what I think is the Oakham characterizes circumstantial evidence For anybody who has read it already go. Google it But the general gist is I I think we'll probably never know with one hundred percents certainty I think that right. And that that if this evidence of this An accidental leak exists. The Chinese have almost certainly destroyed it by now. They will be denying this until The Sun Burns out of energy But you know earlier in the week I wrote some. Kinda came to the point as much as I want to say. I wanted this case but I think as much as I have been fascinated by this possibility and not been quick to dismiss it as an impossibility stems from the fact that if this is a accident at a lab in a very strange way. This is the optimistic assessment because there are three possible ways this got to Four four possible ways. I guess you could say that this this virus could have jumped from bats to humanity. The first is that somebody just happens to get bit by a bat somewhere. You know ends up Catching the virus and somehow they just ended up in the WHO and on seafood market. The other one is And I think one of the probably got a little less discussion than it deserved. All around the world. People use Bat Guano for fertilizer not just in China but all over. The place apparently makes really good fertilizer. The problem is is when you're in a cave collecting Guano. The scientists is the utter disgustingness of thought. you are. You're putting yourself at risk for exposure viruses and we have known for at least fifteen years if not well before then bats are just these deep reservoirs of all kinds of viruses so if you are interacting with the bat you're putting yourself at health risk it. Oh by the way here in the United States. If there's a bat in your house and the they touch you they tell you you might want to get a rabies shot. You know doctors take this sort of stuff very seriously Third Possibility is that this comes from a bat or a Pangolin that ends up being consumed at the Hunan Seafood Market there are various reports. Basically say nobody remembers. Bats being sold there now. This stuff is illegal so it's possible people are lying to investigators but the general gist is You know that's a possible one or we have these not one but two labs in the city that are working on specifically on Corona viruses in bats. Now one of the ways of looking at this is that if there was a terrible virus new virus that broke out in Atlanta Georgia. A Lotta people would say hey. Cdc Headquarters is right there. Did that have anything to do with it? If one broke out in Frederick Maryland people would say wait a minute wait. Fort Dietrich is right there. And that's where the army researches this stuff does that white. Oh is that why this broke out here so to me? It's almost like an album's razor sort of thing. But all those scenarios that I laid out getting every lab in the world that handles dangerous contagious viruses to handle their safety rules. One hundred percent all the time that might that might be hard. But I think it's achievable like we've never had an accidental nuclear missile launch. Right you know when people understand the consequences of a mistake. They take their work Bruce seriously when if the other options it was at a at a wet market well we need to shut down. Every wet market in America in China. We need to shut down all the animal poachers who are doing these species all across the world. We're probably never going to be able to do that. And if it's just people using fertilizer for For for their fields collecting bhagwan. We need to stop people from doing that. Because if all these things which are still going on right now. There's still a chance that somebody's going to encounter some other bat and get some other strain of virus. That could be even worse than this one so our goal is to make sure this never happens again. The lab accidents scenario is the good one. That's the easy one and so maybe. That's stirring my thinking in this area. I certainly don't think the Chinese government says and look there have been you know lab accidents the CDC at the foot food drug adminstration found samples of smallpox in a closet. Back at twenty four. Don't tell me that the Wuhan Institute of Virology as so professional and so well trained That could not possibly have made one of these mistakes. We also should shout Josh. Rogin of the Washington Post who point to the State Department memo that said you know specifically us. Scientists had toured the lab and walked away saying they don't have enough trained people to handle these sorts of stuff properly safely. That's probably as close as we might get to a smoking gun in this situation. Yes Charlie a Allude to this Fox story. I don't think it necessarily doesn't since the case it's anonymous sources not even clear us. Intelligence sources is not clear where these people are in government. What capacity They're operating but it's it's a pretty important story nonetheless and it just goes to this tendency and our political culture. That's been particularly accented during this crisis of there just being things that are deemed forbidden thoughts. Right wasn't just. The people disagreed with Tom Cotton when he first floated and he said this might this might have had when he first floated he was mocked news. Pillar he was fact checked up and down and it the the sense sensibility of it was. This is something you cannot think happened or you're not not a rational person. Baffled beam I must say to. Jim's point about conspiracy theory becoming perhaps the correct theory. I agree that it would be good if it did. And that's not because I'm hostile towards the Chinese Communist Party although I very much am it's because it is a far less scary thought. There's a British writer left wing David around it and he wrote a book about conspiracy theories that I quite like and his central thesis is that the conspiracy theory is held by the person who desperately wants it to be true because the alternative scares them. It's a scary thought. Think you could be struck by lightning scary thought to think you could be hit by. Meteo scary thought to think you could get cancer. The prospect of nine eleven having been planned by a man cave and executed by nineteen foreigners on tourist visas with all the suffering in damage that it causes a scary one much easier if George W Bush planned it. You can remove George W Bush you can uncover the plot and it won't happen again much more difficult though to vet everyone in the world and David Iran over says this is why we gravitate toward conspiracy theory because it takes out the randomness. It takes out the chance if we can just work out. All of the answers will be fine. Well in this case. This doesn't look like it's a conspiracy theory and it's Jim says it's comforting one level to imagine that this was an accident you can improve the safety standards in a laboratory. You probably can't regulate all the food markets and also you caught regulate all of your interactions with nature. You can't control where animals decide to go and what they decide to do. So I agree on that. I think with with Tom. Cotton there is a double standard hit. progressives tend to believe that they rational and they interested in science but they hold all sorts of peculiar theories and believe in all sorts of conspiracies. This one though just hits a number of their trip wise I start it assigns blame to a foreign nation Tom. Cotton is somebody who is relatively close to president trump. President trump is considered not without caused to be xenophobic. Therefore Tom Cotton must be indulging xenophobia and it was of course picked up and run with on the channels and the outlets that the beyond pestle. Don't like but Tom. Cotton may have been right. Tom Cotton's NYDIA Tom. Cotton is somebody who is clearly interested in this area if you remember back to the Ebola outbreak in two thousand fourteen just before the midterm elections. Tom Cotton was by far and away the most vocal off the Senate candidates in that year on the question of a better again. He was accused of xenophobia. I think I'm right in saying Tom. Cotton went to Harvard. He he's he's not a stupid man and yet because the potential consequence of what he was saying is that we might think ill of the Chinese government and perhaps if Chinese standards then it gets shut down quickly and deemed trae but that is of course no way to run a country. Jim Friend of mine was telling me he was on a call with Francis Collins the head of the NIH with with a bunch of mainstream journalistic types in in this came up a couple of weeks. Ago I guess What source the virus and might have been from a lab and Francis Collins was like yeah I don't discount that at all. I have been to Chinese labs and That they could've had an accident and let loose something. You know that. That's a real possibility. There is dead silence on the phone because it just so blue. Everyone's mind that this respected scientists would even entertain this theory yet to things worth noting about Francis Collins who I've never had a chance to meet or anything but everything. I've heard about indicates that he is the right man at the right place. He's been at the head of the. Us Centers for Dash a National Institute of Health for longtime back in two thousand fifteen After overloaded to that The CDC had accidentally exposed folks to live anthrax thankfully. Nobody was could never got all that sick The FDA had found that smallpox back in the closet that You know they had a series of events that US labs that were kind of embarrassing and among them as but Louis shortly after that they instituted new rules that involved in fact they asked everyone who is kicking federally. Funded Research to pause research on certain a experiments on certain types of research on these kinds of viruses. Sars murders Influenza and as a type of Of Research where you take a virus and you actually make it more virulent and more dangerous or contagious. Some people might be like. Oh my God. Why would you ever do that? Well here's the thing if you want to develop treatments and you develop cures and if you want to figure out how to fight really dangerous viruses. You need really dangerous viruses. So there's no reason to think that the people who are doing this experiment were being you know slightly whiplash twirling their mustaches and Blah. I've created my superbug to destroy the world Nonetheless the National Institute of Health like you know this is a little bit dangerous. This is something we wanna make. Sure everybody's on the same page about the proper safety procedures and how to handle this stuff and how to dispose of this stuff. All kind of stuff and that That you know Paul said anybody who's not collecting federal funds. We still want you to pause this research. We're really not convinced that this is This is safe to go forward. They did allow a couple projects to keep doing. That already. Started to keep going. One of them was at the University of North Carolina. That was working at one of the best virologist at the world who was doing research on Corona viruses in bats. And oh by the way one of the to the doctors they were working with were affiliated Wuhan Institute of Virology Again this is not Merely University of North Carolina is the root of all of this or anything like that and it's also worth pointing from a lab does not mean bioengineering. It does not mean that some sort of mad scientist is in there and meddling with the DNA of this virus this entire time. I believe that this yet. I have not seen anything to make me. Think this has been genetically engineered or altered. This is somewhere out there. There is a bat that has an exact match for SAR. Cop to we just haven't found it yet now. That bat could be in some cave somewhere. That bad could be dead somewhere. That bat could have been one of the two labs in the city somewhere by the way for people. When they say they're corn of arson best we found very similar strains but not one that precisely matches up with the one that we have so this is a naturally occurring virus. But that doesn't mean it didn't come from any one of these. Several hundred bats that they were using for research in the Wuhan Institute of Virology or the Wuhan Center Centers for Disease Control. So I find that reassuring. I think that's you know collins just having an open mind about where this possibly came from He's clearly he was at the head of an H. when they instituted the pause and he's at the head of NIH when they instituted the new rules instead. Okay the pauses lifted back in two thousand seventeen so he to understands. The dangers of this sort of thing be accidentally released. If I mean I think he's just the stuff just piles up and you look at that and you say you know what. There's a good chance this came from a lap probably never going to know. But that's I think the right way of thinking of this I this is open a huge can of worms. We'll just make it real short. I wonder how many people find that option so horrifying and it's the sort of thing that makes our interaction with China so irreparably damaged that they that they don't WanNa think about that possibility too much because it would mean this past you know going back to Nixon going to China the US in relationship with China would be forever changed the Arna hair courses that if the room aware that this had emerged from a corporately owned virology lab in Virginia owned by a donut. To the trump campaign with contracts to Boeing. Then this there would be absolutely. No you think people would buy this if we thought it was a record right well. That's true as well. He should post that Charlie. That's a that's a great point so let let's go to the exit question to you first. Jim Geraghty your gut. Now percentage odds that this fire escape for from a lab in Lan zero. It's crazy conspiracy theory despite all this a hundred. You'd think it's absolutely true. I'm going to say sixty six or so but the thing is also I think I don't think over no checkup. Yeah I mean. I don't know the answer but my instinct is. This looks. Civis what happened? Yeah say sixty forty I think. More LIKELY THAN NOT BUT AMOUNT. An expert haven't studied closely. My mind is subject to changing Jim. After you wrote the first big piece than there was people know you know. The the analysis shows it came through a Pangolin saw Pangolin. Okay forget it you know. The last thing was a Is a dead end But I I'm back back to sixty forty but we'll we'll never know in China. Of course does not want us to know one way or the other So let's pause here from our sponsor this group the Boston Group. The krona virus tragedy has ravaged much of American life last two months. The impact of both disease itself. The various policy responses has been profound in nearly every category of society. 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I've just founded really helpful so I suggest to everyone. Go check it out. At covert and markets dot Com cove and markets dot com. So Charlie we've begun to see some indications of lockdown backlash we had protests in Michigan. Were Governor Whitmer had imposed these truly ridiculous rules including about what you could buy at home depot. You could go to Home Depot. Buy some stuff. You know you could buy drywall. Or whatever just combined paint for whatever reason so. I think there's a a justified a pushback there. You've seen it a little in Virginia and one other place that's escaping me and Donald trump now a justice. We were degrading to record. This EPA. Todd has tweeted out. All caps liberate Michigan Liberate Virginia. What do you make of it? Two days ago he says he has absolute power and I was going to liberate Virginia. Everything's is Abraham Lincoln. The the Michigan Stories on one I wrote in my magazine. He's in this issue. That one of the advantages of the federal system. In this time is that the country being a patchwork quilt of different cultures. Different outlook different geography different density. Local officials are able to make the calls that they perceive to be in the best interest of communities without having to outsource those two people who live a long long way away. And that's that's the obvious. That's the obvious case. But they're related. Case is that you hear unpleasant news in an accent. That is familiar to you. It is one thing to be told from three thousand miles away stay inside. It's another thing to be told it by someone you elected much more directly perhaps by county by your town bio pastor people will put up with more if the tone and the language is familiar to them and if it comes from a closest source the limit to that argument is the governor of Michigan inexplicably. I I cannot work out her thinking she must be aware. This is a tough sell. She must be aware what she is asking. People tone and her decisions have been off and I was thinking this morning. It's odd. I get emails now from companies that I had a brief interaction with in two thousand thirteen. Maybe I took some taxi service in Los Angeles. They send me emails in the morning. Charles I really hope you'll okay and your family's okay and we we just want you to know what we're doing here at the Los Angeles Yellow taxi service. Yeah I hadn't thought about this this company for seven years. They get the tone right and the governor of Michigan who must understand the state she represents the people she represents. Is banning people from buying paint seeds wearing shoes or whatever it is that she's doing but that in itself does make another case for federalism because that is a mistake that has been localized. There's no single point of failure here. There's no single electrical outlet other governors. I hope we'll look at what she has done and say no. That's not how we're going to go about this. President trump insofar has any power will hopefully look at that. And say now. But it's beyond me. It's up there with with the press knowing what trump is like trying to drive a wedge between him and Anthony Fauci as a as a baffling baffling decision. When you're asking people to take extraordinary measures in many cases lose their livelihoods and all their livelihoods yield. You have to be smarter than that. Yeah I just WANNA point out. I've been forced to watch live television recently. I seems like every other commercial begins in this time create uncertainty. We want you to know that we it amalgamated chemical or here for you. Because we're all going to get through this together you know And after after the five millionth commercial. Eat A little tired of everybody's saying we're all in this together and that this is a time of uncertainty. I mean I I just to say I was amazed by I am. I haven't been able to watch much much. Tv and just the other night. I had on and the head this ad for touch free car delivery which is just just. The way of market can respond to a crisis. So you don't have to go anywhere. Don't have to touch this car. It's just GonNa come to you and be in gently Dropped off in. Your driveway is amazing and then something Today in an email newsletter I think is Mike Allen Axios. It was my cows from axios just pointing out that people think this this is this is something part of our economy is never going to go back. People AREN'T GONNA go to showrooms anymore they're just gonNA order cars and have them delivered to them. Anyway Jim sorry some point in the last fifteen years somebody was pitching some investors. It's like Amazon but for automobiles. Now you just you log online you order your car gets delivered to you I think my favorite example of this is farmers insurance which we have seen J. K. Simmons of you know we we know a thing or two because we've seen a thing or two and they're usually goofy accidents involving animals stuff and they now have an ad which it says sooner or later will be able to go back to those accidents about animals that made us laugh but we know for now. They got J. K. Simmons. I assume from his house to record new audio to be a more serious tone for their wants. And how they're reducing rates for people and all that stuff Regarding the the you know crazy runaway governors In this country it is worth noting Michigan. Michigan Governor Gretchen. Whitmer 's executive order a lot of she banned the sale of seeds. What was was that stores that are more than fifty thousand feet square feet beating your big box stores. Right your Walmart's your best buy might get up that size You know any of those stores are just huge They have to close the your home. Depot's they have to close areas of the store that sell quote one carpet or flooring furniture garden centers are plant nurseries or paint. Now this is the moment where you just wish somebody had been around The Governor to say governor. You do no. It's not the seeds that caused the corona virus right. It's not the paint. It's not the the carpets up flooring its proximity to others right. That's what this has done. So if you WANNA limit people going into stores Be The you're asking people social distance as stay six feet apart If you go into Went to see the day to up a prescription. Then these big plastic things at the At the register bank teller type situation re slide the money underneath your most retail establishments are trying to figure out okay. How do we continue though those yet? So it's like there's a plastic separation yup bulletproof or anything my local liquor store. Here's so here's what it is is that you're not less red risk shopping a grocery store or a CVs or walgreens or Or pharmacy or something like that. Then you are at a bookstore or some other place right. It's not the objects in the store that make you potentially sick how close you are to other people and I guess if like somebody's you know handling a book and then they put it back on the shelf and then somebody else picks up in. Maybe there's some teacher there but by and large it's the interaction with other customers. So this idea that certain products are like I buy seeds particularly Hansie. Yes it's kind of like the people who say well we're putting out nighttime quarantines. Y'All know the virus spreads at nighttime so does daytime right now. My understanding is what they did. He was hoboken. That said they were doing it because they didn't want people to hang out in parking groups in parking lots of commune stores and take out restaurant. Okay fine you WanNa do that but you recognize. It's the interaction of people that you need to limit and as we talk about okay. How can we undo these lockdowns? If it's safer a store to have less than ten people in it then it's safe to let have you know like a restaurant or CBS. Or something like that then. Any other store can have less than ten people in it without without particular risk. It's not the objects right. It's the it's how close you art people. And how much are you interacting with by the way we discussed this in the corner earlier this week? There's a study out of China and it's not peer reviewed. So I wanNA make you know. Put those caveats in place. They looked like four hundred cases of how people would caught the corona virus and they could only diagnosed one as being from outdoors so it is possible. That your chances of catching the virus from somebody else when you're outdoors are pretty darn unlikely part closing. Strike me as particularly ridiculous. There's there's a nice little park in the town where I am now. And has cones and signs saying closed in young people do is like run around this path. The it's not like they touch each other. You know. Come ON GUYS. What is this? What is this a government shutdown during the Obama years? Also it's kind of pathetic part of our lives now. A member of my household went went to the grocery store this morning and and when he comes back and it was like how was it. You know it's like you're you're This is like a major a vet. You know this is like the most interesting thing that happens to anyone now. They go to grocery store. That's so true. That's so true. I asked if my wife goes. I ask how it was what it looked like what people would do. Have you told me? Two months ago I'd have also out of lost my mind or something. Yeah so UH exit question on this one gym to you. There will be a folk hero. Like Rick San Tally issuing a clarion. Call against the lockdowns who become a really big political deal here some time soon. Yes or no no only because I think that people understandably freaked out about this virus for a long while and it'll just be too close to remind people of the the kids on the beach And other phone lines outside Saint Patrick's Day Alonzo outside bars and stuff and I just don't have one particular person who will will do that. I do think though the generally speaking we got two more weeks of obedience and then I think starting in May people are going to start saying to hell with us and go out and start living their lives. Kelly Cook yes or no no in the. We've already had it from various people who have been largely condemned one of the reasons that Rick Santelli. His rant became so famous. Was that enough people in the middle of politics. Yeah yeah actually. Yeah there's been an attempt to write that tea party this motivations but I think it spoke to something fairly reasonable whereas with this we're still looking at seventy percent in opinion polls who think that we've taken the right course so the the resistance that Jim is anticipating and I think he's right to anticipate will happen but it will be in the minority and there won't be any particular leader who resonates. I'm say yes I think that there will be someone who catches fire. We'll be someone on TV or just be someone. Who's crackdown on? You know when they when they try to enter a park or whatever it is but I think next couple of weeks here. They'll they'll be still some overreaching in terms of excesses in terms of lockdown. When the sentiment Jim is talking about The stir craziness and that eagerness to get out and they'll be a clash their spark and someone will like what will become something populist prairie fire so before we move on. Just WanNa make pitch for an are plus if you're at National Review Dot com regularly noticed more and more stuff is behind the meter. Paywall you can get to it if you're not signed up to an hour plus you get three pieces. Amonte but it will cramped. You're reading sooner rather than later This these are not marginal pieces that are behind the meter. Paywall some of our best most valuable content that you should be most eager to read so there's one very easy simple way to get around the table which has signed up for an are plus. It's not very expensive. We have all sorts of deals running at any given time you on the website. Check it out and sign up. It won't cost you much it will Avoid a lot of annoyance and you get to read everything and also get to comment on articles and Corner Faucet. That's something you want to do. You can be part of our private facebook group that floats your boat and you get invited to exclusive a calls with conservative newsmakers. And when we're having in person events again Be Part of meet UPS or we just get together and drink beer with our editors and writers so Jim Related Topic to the one. We're just on lockdown excesses this ongoing argument about whether the shuttle was huge over a reaction or not. Since we'RE NOT GONNA see it. Looks like a one hundred thousand deaths as was predicted from the White House. Podium a couple of weeks ago You're seeing more and more arguments that this was just a An essence of hysteria and panic. Where the cost which obviously been enormous and economic and social terms? The cost weren't worth the health upside. I'd be very curious about how anyone can say. Oh this isn't that bad or oh. This is an overreaction. We are at last. I checked thirty three thousand dead in this country and we've been in the neighborhood of two thousand dead a day. That's about a nine nine eleven every thirty six hours or so. Yesterday there was this giant jump. I think it was because of a New York tossing into its to its figures. Everyone who they had not been sure was dead of corona virus but they suspect of being corona virus. And yes you know. These counselor are imperfect had a lot of road to go we it owed one person. Put it if we hit peak. That means we're about halfway there And with by the way there's no guarantee that the down slope of the rate of deaths rate of infections will be a mirror image of the upslope of the rate of deaths of infections Regarding that sixty thousand lockers thing. We are all struggling with this decision and the drum that I've been beating this week and then I feel like the vast majority of discussion around this is is not grasping this in an honest or fairway. We have two very bad options and everybody who's hoping for some magical third better option is probably going to be waiting A very very long time probably could we have a vaccine which you know. They're saying twelve to eighteen months yet. We got a lot of scientists and doctors all around the world working on it and we can always hope that it comes along sooner but it's probably not. We certainly can't plan for it to be here before them. We other stay like this in which the economic effects absolutely terrible and you're going to see it. Increasing number of alcoholism drug abuse depression suicides. We know that really bad economic downturns eventually have public health consequences. So that's why that's one path which stinks. I could use worse words. But I won't because this is a family podcast Or we open society. We open up society. We Open Up. Our workplaces hopefully would gradually. Hopefully we do it. Based on what we're seeing in based on the data I generally liked the broad outlines for by the White House earlier this week but it is an inevitable fact. If you open up workplaces you're going to get more cases and some of those people are GonNa die which means you're going to get more deaths. We know this from the places that are open right now we know Smithfield and all the pork workers. We know it from Amazon in the warehouse workers. We know it from the grocery stores. This is pick your poison. There are people you can either to continue the economic pain or you can open it up and you're going to give us some more public health pain and now the question is just how much and you've seen a lot of discussion about what the death rate is going to be and what we have to get to herd immunity while the bottom of threshold for her to unity is about forty percent of the population. That's about as low as you can find in in in a society. Highest is probably around ninety five percent. That's for measles there's an interesting study. Came up from Los Alamos. Labs said for a virus from what we know about the corona virus. Were probably going to need something in the neighborhood. Eighty two percent. That's really high. That's in the neighborhood of two hundred. Ninety million Americans need to get this virus. It's really bad okay. So here's the so you need to get lots and lots of people now. We don't know what the death rate is. And lots of people say well because we don't know how many people have it. All these numbers are nonsense. None of these numbers are not nonsense. These numbers are imprecise as the difference. What we now know a so for most of my calculations I assumed one half of one percent death rate and I think that's being pretty darn optimistic. Couple say early on in this. We thought it was one percent Right now if you look at Italy it's thirteen percent But obviously you know the people who are being recorded as cases in Italy are the highest. Are you know The worst cases. So let's say it's you know it's half percent you're on the numbers. The floor is six hundred sixty thousand Americans who are dead before we hit The forty percent threshold If it's close to the ninety five percent you get something in the neighborhood. One point six five six million we are looking at the death toll. Probably in the terms of here's the Improvements treatments might help The Resolute Desk Resume Queen. Whichever one I'm not the hydrochloric ring but the other one is showing some really good signs. Having people just lie on their stomachs in some hospitals is showing some really good signs. Maybe THE TREATMENT IMPROVES. And maybe the death toll was in his bed but all in all getting hurt community. It's going to end up with a lot of people dying. We are by no means out of the out of the woods on this and so I'm not saying keep the economy closed I recognize. We can't continue like this. I'm saying we're going to open up the economy and it's going to have a consequence. The consequence is going to be really bad and I just want everybody in America knowing it so that hopefully as we go into this everyone uses all the proper precautions. They wear the masks. They probably limit how much they go out. You know it is no fun to be the person giving people bad news but I think a lot of people just don't want to hear this and as a result they're going to try to make decisions just assuming these bad scenarios just can't happen. Yeah I was as we discussed. Couple of Scott Skeptical that hundred thousand number just as a layman eyeballing a little hard to see how we we'd get there but we're going to be an forgive me for talking about this kind of cold-blooded terms. We're going to get forty thousand. You know by the end of the weekend probably and that Washington state model that everyone's talked about the latest was sixty eight and I think they are about to downgrade further. I can see us getting sixty really easily and getting getting over sixty now. A lot of people focused on that sixty number because that was the number four the flu a couple years ago in charge. This just seems to me a fallacious. A comparison 'cause you're comparing what a disease has has done in a country that's mostly entirely locked down compared to what happened with with the flu and a country. That was completely open. And we're also experiencing these coveted deaths on a much more compressed timeframe than the flu season which lasts five months or so and also a lot of flu. Seasons are much more mild. I think two thousand ten twenty eleven. The estimate was twelve. Thousand people died. So it's clear that this this this is worse than the flu doesn't mean there's not a balancing act doesn't mean it's not at extreme downside. What we're doing now but the the argument that we just couldn't let it go like we do with with any seasonal flu which of course we don't entirely do right. We try to vaccinate vaccinate people but we clearly would have had deaths multiple higher than than what we have now so it doesn't make a lot of sense to say. Oh we did all this just to save forty thousand lives or whatever. It is because we hadn't done this. We would have lost many more while also flew incidences hugely down because people are in that. And that's why that talking. I think it's a silly one. We've also cut a good number of diseases of that sort so we can tell that what we're doing has had an effect. I mean if if we were all literally confined to our homes by some sort of magic there would be no car accidents either. The the facts on the ground. Unfortunately do tell us that this has been necessary. I as I said last time. I think that's going to be a grand opening where everyone rushes in icon black Friday to the stores and starts going out to eat again. I think we're in for complicated and diverse. I think different states and localities will do different things road ahead of us. But I've said any been convinced that much of this was necessary and I say that as somebody who hates this now I know we all do. I don't hate it more than most people but what I mean by that is. There are two different sorts of people who work in politics on the one hand. You have people who love politics. They love policy. They loved debating the nitty gritty they like legislation and legislative process. They are interested in horse races. They read a great deal about great events. And then there are the people who are in of Defensive Crouch and I'm in the latter camp. If if you could say to me everyone will be healthy and happy and free rich. I would as I've said before going live in a shack in Wyoming with the creative whiskey and shotgun I wouldn't obsess over politics. I don't want to live in interesting times. They don't want to live through wars or pandemics depressions. My tolerance for this sort of thing is fairly low. I like being alive. I like the United States especially because it allows people to live out their lives. According to their conscience and to do all sorts of odd things in the markets and worshiped whatever religion they want to worship and speak how they see fit and and what we have at. The moment is the crushing of that. I mean this. This has crushed all of that is disaster and as such. It really does depress me. It's the last thing I want to see or talk about or think about an so rhetorically and instinctively. I'm very drawn to the argument. That we've overreacted. I'm highly impatient to reopen. I I would probably love every minute of it if we did get one of the Rick. Santelli style rants rich that you're expecting but I I can't reconcile myself to that position. Because the data seems to be clear and this this was not a flu season this disease does not do the sort of damage that we expect or take in our stride every year and we can see from other countries. What happens when you take a different road? We've seen what happened in Italy. We're seeing what happened in Sweden and we know what will happen if we just throw up in the doors and say right that's it. The virus doesn't care whether we're bored or tired of this. It doesn't cow about our economy politicians. Should we should try. And the right balance in there is a balance to be had. But it's not gonNA be led by political considerations time considerations and as such I found a lot of the frustrations that people have expressed superficially extremely appealing but unable to pass any more considered Righa. Yeah we've talked about this before the there's also just the public has a huge say In this not just an elected officials who will make feed impose the orders will lift them but just because the shutdown had effectively begun before. They're any official orders because people were going out less because they are justifiable fearful of this and if they decide that the orders are now unjustified and counterproductive you know th they're gonNA take down. This cones are oriented walk taxes cones and go Go into the parks and patronize. Whatever business status they they can find and the other side of the coin is if government says Oh were wide open again and people. Don't think we have this under reasonable control. They're not going to go out Again so Jim. We've asked this question before we'll do it again to take a gut check of everyone at this point in time about the course of this virus and how we're handling it you are relative optimist or relative pessimist. I guess compared to everyone else morale to pessimist. I think we're living with this virus for a long while. I think nothing resembling radio like the these particular rules will be lifted by some point in May or they'll just be wisely ignored by some point in May but I don't think if you normal life I e what life felt like January or early February. I don't think we got there this year. I think we feel like this early. Feel like things are strange until twenty twenty two Maybe twenty twenty one. Maybe maybe early good optimistic. Scenario SPRING OF NEXT YEAR PESSIMISTIC SCENARIO NOT TILL after fall of next year into the air. Twenty twenty two everybody relative after relative after relative vestment last time. I asked him. I said that I was feeling optimistic. About seven hours later I listened to the podcast. You do with Scott Gottlieb completely changed my mind and unfortunately that podcast is still very much with me. So I am at the moment relative pessimists not only because I think this is going to be continuing for a while and whatever opening we manage is going to be limited in scope but I am nervous at the possibility that we will see a resurgence. As Scott Gottlieb has argued at the end of the year. And then we'll be faced with potentially doing this all over again. Yeah that'd be catastrophe I'm I'm a more pessimistic relative optimist but I put myself still on the optimistic side of the ledger. This disease has been A Gut Punch. I do think though. They're large parts of the country that can begin to cautiously open up. I think the the weather should provide some relief and by the fall. I'm not I don't have great confidence. We're GONNA have this awesome testing and contact tracing system in place that a lot of people have written really impressive reports about but I do think there is some good chance. We'll have therapies. That will take the edge off the violence of this disease and that will make a difference but in terms of just returning back to normal. It's a I'm with. Jim's not happen for quite a long time as talking to colleagues about the days like why would anyone say in midtown? Manhattan has an office in Midtown Manhattan. Who doesn't need to go to work every day? Why would they go to work? When are they going to return to work? You know maybe if New York just totally slammed his thing and there's zero cases. Yeah but otherwise. Why so I think You know we're we're going to be dealing with the an economy that's not back to one hundred percent for For for a long long time. That's and that's a daunting prospect. So for move on. Let's hit a few other things. Charlie Cook you've been eating. Alligators are have been eating alligators and it fills it does. This is great. You're you're cooped for about five weeks and then it's just Returns it nature and hunting alligators in your backyard. I didn't hunt them because I'm not allowed to. Although they come too close to the House that rule is waived as a place near us that my wife and I like a great deal and the delivering the moment and one of the things they serve is alligator and I have ordered it twice in the last week partly because blocking delegator is extremely tasty but also catfish. No no it. Sorta halfway between steak and chicken but partly because there are three allegations that tastes like between steak and chicken. You'll have to come down and try it. Sorry I keep on your up to suck. Maybe when this all ever since I'm up to you and then you know phosphoric twenty years in the front of the next. Five outbreak was caused by people eating alligators. But no I it's tasty. Which is the main reason I ordered but outside a house there are three alligators. Sit on the bank and stared. Sometimes I've quite enjoyed the going up to the window looking out at them. While while eating this allegation I'll just in case anyone doesn't know how this works. You can't kill alligators in Florida. The protected species but if they attack somebody or they get to place than the state will come and the state will take them away. I mean obviously if they attack you can kill them. But you can't do it out of sport or for. Food and then. The state sells the meat to the restaurant. So this sort of a single. Because you can't locate them you see because they fight the territorial so you're having this conversation I forget Charlie Wi with someone else who also knew knew a lot about alligators and I already forget so as it. Crocodiles that are really fast And not alligators hoops or or is it alligators. Really fast I I don't I tell you what it judging by. The alligators live on the bank outside my house. I think it must be crocodiles because these alligators now that I'm going to test this but they seem very lazy. Yeah Yeah so. Jim You've been taken with. Nfl draft simulators simulators. Yeah so A lot of people have speculated Jim you seem to have a really grim and dire assessment of how the country is GonNa handle the corona virus. Isn't it possible that side effect of rooting for the jets? All these years. He and I don't think that's the case in fact when I need to unwind and not think about all of these dire scenarios and all these dire figures and everything rolling around in my head. They have draft simulators. You go online obviously sharing a final. Nfl mock draft simulator by the draft network. It's a draft network DOT com. You can go there and pick your team and it runs through a simulation and you can go through and pick whichever preferred ranking of flares. You prefer and it goes through the teams that aren't you and then if you're say the New York jets and you're picking the eleven spot you have your choice. Who gives you a list of all the players will be there you know under that scenario would be there so you pick your offensive tackle that you like it goes through all the other teams and it comes up to your turn in the second round and you get to look at those and it's it's a great way to no one who's likely to be available with your. Beck's get to know a bunch of college football players that as I'm only a very casual college football fan and I'm not looking at every last cornerback and defensive You know offensive Lineman You know it's a way to play general manager I think probably one of the likely side effects it gives you a much more informed opinion when on draft Thursday night you say oh that's not who I wanted him to pick. What were they thinking? Jim Sarah feature built in. That tells you how long it takes for them to disappoint you. Once joined the jets not really quick. Oftentimes within a year or two but But anyway that's I'm unwinding and you come away. You come up with the feeling of like okay. Now I feel like I'd be pretty good with these facts. I feel like it'd be pretty happy with specs and now you know there's no way your team's going to pick those. If the Seasons Council Jim the jets might end up with a five hundred record which we better than they've done for a long time right. Well technically it's zero zero zero record but we ended up the same rank as everybody else. I do think it you know. I think it's very likely that if and when sports zoom and it's not just that there won't be any fans in the stands for baseball and if they restart the NBA season and in Asia. All season. I'm not sure we're GONNA have fans in the stands for football. Come this fall any maybe a year before we tell you this right now if the full season gets cancelled too. That's when I will lose my sense of humor with Corona. So what do you? What do you guys think? Is the Tom Brady Tampa Bay? Is that a good move by Brady. Hoke is GonNa you know this is where I usually put in lots of jokes making fun of the New England Patriots Because they I'm sure doing fans are deflated by the news But I think a more more actually. I'm a little bit surprised. And I kind of if I if I were a Patriot's fan I'd be really angry at the franchise. I think when a guy has given you more than any other quarterback has given his team over a longer period of time. Then you'll let him retire on his terms you don't want to see him in a Tampa Bay buccaneers uniform You know seeing name at the Rams Montana with the chiefs I realize this is kind of become tradition of how the Great Nfl. Quarterbacks tend to end their careers. But I really feel like if anybody earned sticking with the guy even if he declines. Tom Brady earned that opportunity. This ballot check for you at the gym is ally Manning Right. I mean the state of giant but it got kind of ugly at the end So I just I think Brady should have. I think there's a purity to just having been a great and played with one team if it wasn't gonNA work out with the Patriots. I just think he should've retired if I would. Tom Brady and I played for one team done. I would have retired just for the symmetry of it so I- speaking of football speaking of great. Nfl quarterbacks I reached Peak Gardner Minhsiu last night right before I finally gave into household pressure in shaved my mustache so it was Kinda Sad. It was like six weeks of of work that I'll never on ever get back. It's IT'S NOT It's not the mustache is not worth. The sharing was very impressive. But I will Eh as my exclusive assign of a trust in in Youtube gentleman. I will send you my peak. Minhsiu look from last night. Now now. It's all gone so it's that time of the podcast for editor's picks Jimgeraghty. What's your pick? Well as luck would have it rich. My pick is your offering on the homepage today. this is not necessarily sucking up the boss because if it was. I would do that every week. The title is the absurd case. You get my name right every week. There we go. You're darn right greg. Case against the corona virus lockdown and. I think it would have been fascinating about. This is we have seen Kind of the usual partisan lines split somewhat Over how to handle this. What the right responses are and you take to task Former Education Secretary and radio talk. Show host William Bennett. Seth leaps and who also worked in talk radio And the other guys. We like these guys. Were used to agreeing with we. Don't we don't hate these guys but don't think they're stupid. We you know these. You assess and I concurred. These guys just have gotten this assessment very wrong and there's a need to correct them and to think through a logic and we kind of discussed this earlier the podcast and it just very well done a necessary corrective message tough but fair And hopefully these guys don't carry any grudges and point out that this is what no public dirt. Our journalism is supposed to be about saying. No I think you're wrong on that. And here's why thanks. Jim Yeah what one thing. That's been unusual or interesting. I should say about the reaction to the shutdowns. You've seen a return of tea party. Libertarians sentiment among a lot of populace figures on the right which is just suggestive of how long lasting some of this populism might be as soon as there's a Liberal Democrat in office again Passing really ambitious and intrusive legislation because all took for some of these folks was a democratic governor to say what you could buy or not buy at home depot. But Charlie Cook. What's your pick? I like Michael. Brennan doughty's piece arguing that trump's talk forces should switch members. It's slightly tongue in cheek. But Michael is making an interesting point that you put the economists and business people in charge of the health projections than they would factor in a considerable number more variables than you currently getting which will be important when we're trying to reopen the economy rather than just shut shut down the economy and if you put public health officials on the economic committee than they can help those businesses work at how to reopen while staying safe as possible as I say it's slightly tongue in cheek but he makes a good point nevertheless so my kick is an essay and the new print issue by Joseph Epstein. This isn't news to anyone who's familiar with his work. But it's just an incredible Essay he's written for the two last Issues of national review and With with Epstein it you pretty much just give a topic and workout and then this this miraculously good and eloquent and Perceptive piece shows up Two issues ago it was death. You know Mr Obscene please. We write something on death. The incredibly amusing and and moving in deep piece on death This issue is Mr Epstein. Can you write something on grocery stores? He gets his incredibly Profound and perceptive piece on on Grocery Stores. So he's he's really one of the Best Essayist of our time. And that's it for us. You've been listening to a national review. Podcast in a rebroadcast. Re transmission or account of this game without the express written permission of naturally magazine is strictly prohibited. This podcast has been produced by the incomparable sir. Shitty who makes a sound better than we deserve. Charlie thank you Jim. Thanks to the Boston Group. Everyone please check out cove. It AND MARKETS DOT COM. And thanks especially to all of you for listening we are. The editors stay safe everyone.

Jim China Influenza United States Michigan Charlie Donald trump Tom Cotton Francis Collins Boston Group Virginia Wuhan Institute of Virology Kelly Cook DOT COM Charles NIH CDC Jim Garrity
U.S. Treasuries are Junk Bonds   Ep 598

The Peter Schiff Show Podcast

50:52 min | 10 months ago

U.S. Treasuries are Junk Bonds Ep 598

"Leadership. Well, the month of July has come to an end and it is one of the record books. Thanks to the Federal Reserve you have both the SNP, five hundred and the Nasdaq composite with their highest monthly closes ever now, they're not the highest daily closes, but on a monthly basis, these are the highest. The Dow Jones didn't quite make it because you know it has too many real companies in it, but the tech stocks were able to help power the. The NASDAQ AND THE S&P to new highs look at apple today. Another I apple is now the world's most valuable company. It was up almost eleven percent today alone ten, point, seven, four, percent apple now has a market cap of slightly less than one point, eight, trillion dollars, I believe I, mean, a lot of people are now talking about apple being the first two trillion dollar company and you know it could easily happen. I. Mean. Maybe it won't maybe it will. But it's not that far away. But now, I remember this hearkens back to the DOT COM bubble I. Remember when Cisco Systems was supposed to be the first trillion dollar company. Now, it never got nearly as close as Cisco is to two trillion, but the put that into perspective, the high for Cisco. Systems market cap in two thousand was five, hundred, and forty, six, billion. And here, you have apple with the market cap, almost four times as much at one, point, seven, eight, trillion, but Cisco never made it to a trillion. In fact, it ended up falling back below one, hundred, billion, I forget where the low was for Cisco. It was much lower than where it is now, but even today twenty years later and another two bubbles later both the bubble, and this bubble Cisco is barely two hundred billion. It's still slightly below A. A two, hundred, billion dollar market CAP, which sixty five percent below where it was twenty years ago when it was the darling of the DOT COM boom. So you know apple somebody can certainly take a bite off apple and it could lose its shine I wouldn't be surprised. In fact, I expect it to happen eventually although I'm not willing to call the top especially when you have the Federal Reserve artificially goosing the markets, the way it is, in fact, it's. It's not just stocks that set records, but gold and silver, and these are not just monthly records, but all-time closing records for gold gold closed the month with its highest monthly close ever. We are up almost nineteen bucks today, we closed it nineteen, seventy, six per ounce. So less than twenty bucks away from two thousand dollars an ounce. We didn't take it out this week, I. Think the odds are taking it out next week. In fact, we may take it. It out Sunday night. It's possible that on Monday when the stock market opens for business. If you WANNA buy gold, YOU'RE GONNA have to pay more than two thousand dollars an ounce to get it. In fact, this was the eighth consecutive week that gold has gone up I'm not really sure what the record is, but we're probably closing in on it. silver also was up for eight consecutive weeks. The percentage gain of course is a lot bigger in silver. But it's not a all time record high. In fact, I read. This is the best month for silver. Since one, thousand, nine, hundred, seventy, nine, right. That was the year that the hunt brothers tried to corner the market, right? So this is the best month since then for gold, it's the best month since two thousand eleven. But again, gold is at a record high silver as just at its highest monthly close. Since April of two, thousand and thirteen. But I have a feeling. Silver is going to be taking out a record probably not this year. Year, I mean. I. Don't really expect silver to break above fifty dollars an ounce in this calendar year although I would not rule it out. It is certainly within the realm of possibility but I think it's much more probable. That silver will crack that record in twenty, twenty, one rather than in twenty twenty. But of course, the flip side of gold and silver going up is the US dollar going down, and in fact, that's still a better way to look at it. It's not gold that just set an all time record high it is. Is the dollar that just set an all time record low, you get less gold for your dollar than you've ever got before. In fact, I mentioned one of my earlier podcast that the very first official price of gold back in seventeen, ninety two was nineteen dollars in I? Think. It was twenty two cents an ounce or something like that. Well, goal is now officially more than one hundred times more expensive than it was seventeen, ninety two, which means the US dollar has now lost better than ninety nine percent of its original value. Thanks to. To the Federal Reserve because until the Federal Reserve came around as I mentioned on my other podcast, the dollar's value was relatively stable. You could buy the same amount of gold over time, but it's been collapsing more recently particularly ever since we went off the gold standard in one, thousand, nine, hundred, seventy one, and I think it's about to collapse completely in the coming years. If we even have a years, it may even be months. I mean who knows at this point I? Think we literally are living on borrowed time This is. A game of musical chairs and the music could stop at any minute, and if you are not in a chair meaning out of you as dollars, then you are out of this game for good. In fact, the dollar index, which measures the dollar's value against a basket of currencies. It declined for the sixth consecutive week, and despite a rebound today I think there was some short-covering in the dollar index today. It was still down on the week in fact. This was the biggest monthly drop for the US dollar index since two, thousand and ten. So you gotta go back a decade to find a month as weak as the month that we just experienced, and of course, remember before this month began, there is a lot of bullishness on the US dollar and as is normally the case, the consensus was wrong. I've been out there talking about how I thought the dollar was gonNA fall, and it's not just GonNa. Fall, it is going to get killed. It is going to collapse. I mean right now, nobody seems to care I. Nobody is worried about the weak dollar again, maybe because it's a slow orderly decline and because people think it's a good thing. Oh, going to help our exports, it's going to be good for corporate earnings. They are only gonNA worry when it becomes a disorderly crash and it starts disrupting other markets like the stock market that is going to happen. But I think the dollar's GonNa crash from a much lower level. Level I. Think if you look at a chart I, think maybe around eighty I, think once the dollar index breaks below eighty. Then I think the slow orderly decline could turn into a very rapid disorderly crash and be very disruptive for other markets. Now, how long is it gonNA take for the dollar index to crack eighty? Well, at the current rate of descent, it could do it before the end of the year, but if it does it, do it this year. Maybe we get some kind of rally. The dollar right nothing falls in a straight line. You always get rallies in a bear market just like you always get. Selloffs in a bull market. So the dollar could have a rally although the momentum to me looks incredible and I think the selling pressure will intensify. But I, think once it really starts to crash, then it's going to be a major concern. Know another market that hit records today was the treasury market on a monthly basis, the ten year, and the thirty year treasury bonds closed at the lowest yields in history at a time. When the US, that's are the biggest in history and there's no end in sight. The US government is able to borrow at the lowest rates in history. Now does that sound normal does? Does that sound like that's the way it should be a free market. Of course, not when you have a lot of debt, you should be paying more to borrow. You are a greater credit risk the more debt you have yet. The US government is being rewarded with the lowest interest rates ever despite it being the worst credit risk ever as judged by the sheer. Of. Debt that it has. In fact, after the close today Fitch, you know one of the major rating agencies in the US you got. Standard. Poor's Moody's and Fitch. Those are the those are the big boys, but they came out today and they lowered their outlook on US treasuries from stable to negative. But of course, they left the triple a rating intact. So they didn't actually cut the rating, but they lowered their outlook meaning that maybe in the future, they will cut their rating. Now, the last time, a major agency actually reduced the rating on US treasuries was standard and Poor's, and it was about a decade ago I think, and this was in response to qe one, which pales in comparison to what we're doing now and back. Then SNP cited the very reasons that that fits citing today out of control deficits and no end in sight and standard, and Poor's lowered credit rating. It's in just reduce the outlook. It actually took it down a notch from. To Aa plus where it stands today. And of course, you know everything that s and P was concerned about when it lowered the rating. It's all come true in fact based on what they said that then. They should have reduced the rating many times by now, it shouldn't be rated Aa plus but member they were so scared after they initially downgraded them, they ended up getting fine. They were like the only rating agency that ended up having to pay a penalty for overrating mortgages and its role in the housing bubble and the ensuing financial crisis. So the government singled out SNP to be punished even though all the radiator agencies basically did the same thing. SNP singled out and I think the reason was because they were the only one that had the gall to downgrade. US, treasuries, and so to send a message, not only SNP like, Hey, don't do that again. But to Fitch and Moody's, Hey, this'll be a lesson to you. You leave our credit rating alone, and of course, you got to remember that the subprime mortgages which really. Really were drunk bonds, but which were rated investment grade member. The trench that we shorted right shorted and help clients at your Pacific capital short where rated triple-b-minus by the big rating agencies. That was the lowest notch of invests been grade. So all these rating agencies were saying, these are investment grade bonds. I knew at the time they were junk and they were being overrated. And there was collusion going on between. The issuers, underwriters, and the the rating agencies. But only a standard and Poor's was somewhat held accountable for pudding investment grade ratings on bonds that should have been rated junk while they're doing the same thing with the US Treasury us treasuries should be junk on I, mean. They'd not only should they not be rated AAA? They shouldn't be rated at all right, and in fact, this is a disparity. Right? You've got fixed lowering the outlook on us. Treasuries. On the same day that treasuries closed at their highest price ever on a monthly basis, which means investors in theory have the most amount of confidence ever in the credit worthiness of the United States that they're willing to loan the United States money for ten to thirty years at the lowest rates in history, and that's the same day where fish comes out and says, Oh, no, we're gonNA lower our outlook because we now think that the US government is in danger of not being able to fully repay its obligations. Of course I, remember ironically the last time when. SNP actually downgraded US treasuries. The stock market went down a lot that day that was like a really like shot across the markets, bow like that. came out of left field. Nobody had ever expected it because remember US treasuries are supposed to be risk free, right? It's the risk free rate and all of a sudden standard and Poor's said, wait a minute. They may not be risk free because they took it down a notch, and so the stock market went down and investors were so worried about the stock market going down because treasuries were downgraded that they rushed in and bought treasuries. So treasuries actually rallied as a result of their own down rate, which shows you how ridiculous it is. is because everybody just looks at US treasuries as being a safe haven and in fact there. So blindly following the crowd that in that circumstance, the US treasuries actually became a safe haven from US treasuries. So because you were worried about US treasuries, you bought US treasuries, the very instrument that you're worried about and you bought it as a safe haven from itself would shows you how absurd this is that treasuries can be perceived as a safe haven from themselves. The real safe haven is gold, and that's what the smart money is buying and I think more of the smart money is going to buy it on Sunday night after the market really starts to digest. The significance of the Fitch, outlook reduction, which of course is too little too late. It's all meaningless none of this matters the only thing more ridiculous than Fitch lowering its outlook on us. Treasuries is the fact that it left AAA rating intact as I said, it should be junk bond. There is no rating low enough for US treasuries they should be given after now. Now, obviously people say but Peter. There's no chance that they're going to default will A, we don't even know that in fact, the US government opened the door recently to defaulting on China. We were saying, Hey, we don't like the way. The Chinese have been negotiating. We don't like trade policies. We think they infected us with China Flew Aka Corona Virus Covid. Nineteen. In retaliation, we're not GONNA pay on the Treasury's we're going to default on those treasury. So we've actually raised the specter of the fault ourselves. So you can't really say that there's no chance that the US government will default, and in fact, if the US government does the right thing and I recognize that's a big if but if the government does do the right thing, it will default because there's no way to repay. So default is the only honest way out of this mess. But most people think that there's no chance that the US government will ever do the right thing. And so they think they're just gonNA print and they think because the US government can print as much money as it wants will. Then it never has to default and therefore US treasuries should be rated AAA. But when you are rating a sovereign that borrows in its own currency and you are not supposed to be looking at default, you can assume that the risk of default is zero. What you have to look at when you are rating sovereigns that borrow in their own currency is the future value of that currency. So the rating is not on the bond, but the rating is on the currency that the bond is denominated in and that the lender will be repaid in. You See. Not. Being repaid and being repaid with worthless money are the same thing and if the US government were to do a restructuring and pay off fifty cents on the dollar, everybody would. So that's a huge default. If there was a significant risk that the US government might only pay back fifty cents on the dollar s and p Moody's Fitch would all substantially reduce the rating on US treasuries? Clearly, they're not risk. RISK FREE IF YOU'RE GONNA. Lose half your money. Well, it's the same thing if the dollar loses half its value and you get paid with money that buys half as much as the money you loan, and in fact nowhere is that more obvious than to our international creditors who need to look at the exchange rate between the US dollar and their own currency if I'm in Europe and I lend somebody. Dollars, I have to take my euros and by the dollar's and in ten years when I get paid back dollars and have to rebuy the euros. If I can only buy back half as many euros as I sold to make the loan, I've lost half my money. So I arrived at the same destination regardless of how the government got me there whether it was through default or through inflation. So what the rating agencies are supposed to be looking at when they decide what rating to put on US treasuries is, will the US? Treasury. Be Able to repay this debt honestly by raising taxes on American taxpayers or reducing government spending on things like social security, Medicare obamacare pensions, all that so that they. They can honestly free up the money to repay creditors or does the US government have so much debt and lack the political courage to cut spending or raise taxes or even the ability to do it because the American public is too broke to afford the higher taxes and therefore will the US government have to resort to a printing press to repay the debt and the answer to that is obvious. Of course, we will. We've already resorted to a printing press right now, the Fed is printing trillions and trillions of dollars right now, if it wasn't, we could meet the obligations on the existing debt. Let alone repay it or meet the obligations on additional debt. So clearly if standard and Poor's Moody's. Were being honest about the outlook for the US dollar, they would. Cut The rating on US treasuries right now because there's no way anybody who buys the US Treasury for tenure maturity or thirty matured even worse. If you hold that bond maturity, there is no way you're GONNA get your purchasing power back. There is no way you are going to be whole and the little teeny bit of interest that you get. At one percent or half a percent or whatever it is. That tiny bit of interest will be insignificant compared to the purchasing power that you lose. For holding that bond immaturity. Ridiculous, these bonds are junk. They are more junk then to subprime mortgages that were dunked, but that were rated investment grade, and so maybe though just fish just you know saying something that should be obvious. Right? It's like the emperor's new clothes. You get one little kid that says, Hey, wait a minute. I can't see the the suit guys naked. Maybe. Somebody's saying that is enough. So maybe this could be like an emperor has no clothes moment for the US dollar, most likely not because I. Think it's GonNa take. Something more significant than this to get people to see what should be obvious. But eventually, it will happen, but it clearly is a negative and I think it'll be very interesting to watch the markets react on Sunday because they didn't get a chance to react today because the downgrade or of the outlook took place after the clothes you know despite the run up in the price of gold and the extremely bullish outlook watching CNBC again. All I really here is more reasons not to buy Gold Rick Santelli who is one of the guys on CNBC actually. He's the guy that really got tea party started although drunk the trump kool-aid, and so he kind of like dumped his t away and and became a real trump backer. Even as the deficits were soaring out of control in a way that was much bigger than anything. He was protesting when deficits were rising under. Obama. But he was on CNBC today warning viewers not by goal talking about how it was over extended has gone up so much, and he basically was saying that people who buy gold like me I guess. We're not really like investors. It's a religion. We just buy gold on faith out of our religion and that we're very fickle and we can have a conversion at any moment and go for a different religion, and so goal is very risky and he pointed to the peak in nineteen eighty and he said look if you bought Golden Nineteen Eighty, you didn't get back to that same price until about two thousand and four, two, thousand, five in other words. What he's warning people is that if you? You. Buy Gold today at almost two thousand dollars an ounce. It could be twenty years, twenty, five years before you see two thousand again and I think again seen stuff like that. It's very bullish as far as I'm concerned because this is not one thousand, nine, hundred, eighty s or nineteen ninety S. This is the one, thousand, nine, hundred, seventy s on steroids. That is the decade when goal went from thirty five to eight hundred. That's what Rick. Santelli is missing. This is the seventy show. Reagan Vulgar Nine, thousand, nine, hundred s where interest rates are at twenty percent and we're trying to cut government. This is where interest rates are zero and we're expanding government. We're about to put the Socialists in charge. So we are early in the seventies. In fact, it's like nineteen seventy. We've got a huge bull market ahead of us. Gold at two thousand is almost like golden thirty, five bucks. That's about where we are now I. I don't necessarily think it's that cheap because gold had been artificially suppressed for a long time at thirty five bucks. So maybe it's like gold at fifty bucks or something like that. Compare it. It went up to eight, hundred fifty. So we have got a huge decade in front of us before you really need to start warning people about not buying gold I. Think you need to see ten, thousand, fifteen, twenty, thousand gold before some type of warning light that may be appropriate. At this point, you should be buying I, think with both hands. Now, of course, you should have been buying already, right. You shouldn't have been sitting on the sidelines waiting for two thousand, right. If you've been following my advice for years, you already own a bunch of gold. So you don't have to buy your first at two thousand dollars. But if you're just discovering me for the first time and you don't own any gold, yeah. Go out and buy it because it's just going to get more expensive. Now, pull back to one, thousand, nine, hundred or eighteen, hundred. Sure who cares by more if it does count yourself lucky if you get to buy more gold cheaper. But most likely, you'll be buying more gold more expensive because if you keep earning money, what are you going to do with it? If you don't spend it, do you want to save it? You gotTA converted into goal or you got to convert into silver. But again, there's so much skepticism out there. Look what happened. Yesterday gold was down fifteen or twenty bucks on Thursday. All it. It did is give up the gains from Wednesday. Nothing. Gold was still over nine, thousand, nine, hundred and fifty or whatever. It was announced. It was almost at a record high, but gold stocks got killed. I, mean. They lost all of their gains going back. I think to July twentieth when the price of gold was under one hundred dollars an ounce lower than it was yesterday. And the reason that gold stock investors were so quick to bail on their stocks on the first sign of a drop is because they're so scared that the bull market is over right. This is the classic. Market climbing a wall of worry, gold stocks investors are so scared. They're so nervous that they're they're going to sell at a moment's notice. Now, of course, they had to come rushing back and buy the stocks back. Stocks had a big update today because everybody had a buyback what they sold because the bull market isn't over, we just made a new high. Contrast that to the attitude and the tech market where. No one is afraid of anything. Right? It's just by right. Nothing can go down. You've got nothing but greed when it comes to tech stocks and you still got fear dominating the mining stocks, we also got some economic news that came out today. You know we finally got the first look at the estimate for GDP for the second quarter and the consensus was for a thirty five percent drop, which is the biggest drop ever. For GDP and a quarter member that's annualized. So you have to divide by four to see exactly how much it actually dropped in raw number not annualized for year, but they were looking for minus thirty five percent and we've got gotTa beat Hey. The economy only contracted by thirty two point nine percent fantastic. Right better than expected right. Lower expectations make the bar real low and then you have a shot at exceeding although again, this is just a first estimate. We have no idea how they're going to revise US apparently one of the reasons. A lot lower was a big increase in RV sales. I sold my rv a year too early. I was having a hard time selling mine. and. Eventually sold it. I. Think at a really low price just to get rid of the thing maybe if I'd have held onto it, I might have been able to get a better price. Apparently, a lot of people are buying RV's I. Don't know if they're buying them to live in them or they're just going to travel them because they don't want to use airplanes or other forms of public transportation. So they bought a bunch of RV's. But. If not for that, apparently, maybe the number would have been worse than minus thirty five, but I think the more important number that came out yesterday. Wasn't GDP number. It was actually the weekly jobless claims number and the reason that I think it was so significant. It's not just that it was the nineteenth consecutive week where the number was north of a million new claims for unemployment benefits. But it was the second week in a row that not only did the number exceed expectations, but it actually exceeded the prior week. So we. We now have two weeks in a row of increasing unemployment claims. In fact, last week, the initial report was one, million, four, hundred, sixteen, thousand, we revise that up to one, million. Four, hundred, twenty, two, thousand, they thought we would have a slight decline this week to one, million, three, hundred, Eighty, eight, thousand, instead, we actually increased one, million, four, hundred, thirty, four, thousand, and more. Importantly is the continuing claims. Numbers are now rising. So we have more people who continue to be unemployed, and now more people are losing their jobs. So what this tells you is that whatever recovery that people thought we had is already over and the relapse has already started. The day before that, though on Wednesday, we got the conclusion of the FOMC's two day meeting where they announced any changes to monetary policy, and of course, there were none I mean, no official changes rates stay at zero q is going to continue indefinitely. But once again, the announcement was followed up with a press conference and the whole, these things are just nothing but nonsense. But I thought the most interesting aspect of the press conference was when. Powell was once again asked about interest rates and when they might rise right? Because everybody wants to win rate's going to go up and remember the last time. He got that question Paul said that he was not even thinking about thinking about raising interest rates, right? So not only wasn't he thinking about it. He wasn't even thinking about thinking about it, and at the time I said that that was probably the most reckless and irresponsible statement that. That the Fed, reserve chairman had ever made because you would think and you would want, and you would hope that the Federal Reserve had contingency plans, right that the Federal Reserve was running all sorts of scenarios and they were playing like, what if like? What will we do if this happens? Right? So they're prepared for anything. Right? Have all these various scenarios and have a plan. So what Powell was saying is defend is not even thinking about. Circumstances that might require a rate hike, and so they're not even thinking about how they would handle that. The economy might react to a rate hike a because, they must assume that it's impossible for there to be such a scenario. Well, what if inflation does rear its head or what if the economy isn't even as weak as they thought I, what if circumstances play out differently from their most likely scenario? Isn't there some type of circumstance where they might have to raise rates basically would Powell was saying, no, we don't even care what happens in the future. We're not going to raise rates and so when he got that question again, I, guess he wanted to make the point even stronger that the Fed didn't give a damn. What happened. So instead of saying. We're not thinking about thinking about raising rates. This time he said we're not thinking about thinking about thinking about raising rates. So in other words, he added a third thinking about which to me is like an unofficial ease monetary policy just got easier because the Fed is not even thinking about thinking about thinking about raising interest rates. So I don't know if he's going to keep this pattern going and add a fourth or fifth but I think we get the message. There are no circumstances where the Fed's going to raise. Raise rates. They're telling you that now and I think the reason the Fed is saying this because they know that they can't ever raise rates because the whole economy will implode. So they're telling you, it doesn't matter what happens. We don't care how low the dollar goes. We're not going to raise rates. We don't care how high the price of gold goes. We're not going to raise rates. We don't care how high consumer prices rise. We're not going to raise rates because we can't, and because we know we can't. Even. Thinking about thinking about thinking about it. That is what they're telling the markets. The markets should be thinking. Oh. My God I gotta get out of the dollar. Right? The Fed basically told me. What a predicament it's in that, it can't even consider rate hikes because they're impossible. Swami. Get the hell out of dodge I'm going to sell dollars, I'm GonNa buy gold, that is what the Fed is telling you, and obviously some people are listening to what the Fed is saying that's why gold is going up. That's why the dollar is going down. But more people are going to get the message and goals going much higher and the dollar is going much lower and they're going to get there much quicker and one of the things that help us get there quicker is going to be the extension of the cares act whatever it is, they are going to pass. You don't know yet, but all these benefits are expiring at the end of this month. So they they got to work over the weekend for some temporary extension. So the voters don't lose out on their six hundred dollars, a month checks or any other benefits you know, I, read to that somebody slipped into one of these things. They want to make it again so that businesses can fully deduct. Business meals they that they used to be fully deductible. So if you took a client. Out The dinner, you can deduct the cost of the meal and then they changed it so that you can only deduct half the cost of the meal which obviously made eating in restaurants more expensive because more of the costs was born by the business, and of course, there is a lot of fraud anatomy. A lot of meals are not really business meals. A lot of people just go out socially and just you know claim it as a business meal if I know a lot of people, do they go out with their friends and? and. Let's say there's a group of six people and you know everybody chips in some cash. One Guy. We'll put the entire thing on his business card, but to cash in his pocket and claim this huge deduction for a business meal me while he actually made money on the meal because he put cash it his pocket, and then he got a tax deduction. So ended up getting a free meal and he got paid. So there's always a lot of fraud going in on this, and so they reduced it a by by by cutting. But now, what they're saying is the help the restaurants they want to restore full deductability so that more people will go eat in restaurants and obviously the restaurants are hurting right now, people aren't going out, but of course, is really not going to make much of a difference if the restaurants are closed or if people don't want to go because they don't want to wear a mask or they're afraid of getting of getting Cova. But you know I had a better idea for these restaurants instead of making it a tax deduction, why don't just make it a credit like you get a hundred percent credit for whatever you spend at a restaurant because that means. Restaurants will be free right, and so if any business if you can eat in a restaurant for free I, mean you're gonna eat all your meals in a restaurant. I. Mean The Restaurant Industry is GONNA boom. In fact, when eating restaurants becomes free, all the restaurants could charge whatever they want. Who cares the government's paying for it. Right. The Federal Reserve's GonNa pay for it. So let's make eating in restaurants free. Then restaurants could be like hospitals or like schools, right they can. Can charge a lot more money because now the government would be subsidizing people using their services. Obviously, that's a joke. But who knows I mean I wouldn't put it past these guys. But my point is the illustrate the problems with third party payers in healthcare or education. Right? If we introduced a third party payer into the restaurant business, we would have the same results which would be skyrocketing prices. But again, there's all kinds of stuff that they're trying to put into this bill. And we'll see what they get past i. get I have a feeling that the Republicans don't have the guts. Trump doesn't have the nerve with an election coming, and of course, things that happened this week is the president tweeted out that maybe we should postpone the election that, hey, maybe maybe it's not going to be fair. We have all these people voting from home. So maybe we should postpone the election until it's safe, and of course, the markets for nanosecond got nervous about the political ramifications of trump postponed the election. Of course, he's not going to do it. It, but you know in reality I, don't blame trump for wine postpone because he's way behind in the polls. But what trump doesn't realize is a logger. He postponed it I. Think the further behind in the polls. He's GonNa Fall I. Think. Trump's best shot at getting elected is if we had the election right now because I think the economy's only GonNa get worse and therefore trump's chances of getting reelected are going to be worse in fact if you listen to trump talking now, right he's sounds more and more like Bernie Sanders every day reasonably in talking about Extending these. Unemployment benefits. Donald Trump said, look. The most important thing is we gotta take care of the people I'm going to take care of the people, the government's GonNa, take care of the people, right? Well, the government is not supposed to be there to take care of the people. We're not a nanny state. The people are supposed to support the government yet, Donald Trump believes that the role of government in the United States is to support the people. It's not the people are supposed to support themselves, and the government doesn't have any money see. That's what. What Donald Trump doesn't seem to understand the government can't support the people when it's the people's money that the government needs to support anything. So if trump wants the government to support the people whose money which people are going to pay to support the other people see trump wants to pretend that we don't have to raise anybody's taxes. In fact, trump has been advocating for a payroll tax cut I. Mean, how are you going to Dole out more money to the people and then cut taxes on the people at the same time? So. Trump, is acting like this big spending, Keynesian socialist kind of like Bernie Sanders that he criticized, you know in his State of the Union address. One of his addresses I think maybe the first one because of the rise of popularity of Bernie. Sanders. Donald trump came out and he said America will never be a socialist nation now too bad. Already is in many respects, but we haven't gone. Gone, you know full Turkey socialism, but trump was meaning look on my watch. Right? We're not gonNA. Let America be a socialist nation. We're capitalist country, and we're not going to give in to all this socialist rhetoric. Well, what did trump announced this week? Right? With lots of fanfare. He feels great about it. Donald Trump announced a deal a partnership basically between the US government and Kodak. Kodak, which you know invented the film and camera and Eastman Kodak was one of the I. Think it was one of the nifty fifty back in the days of the nineteen sixties along with polaroid, which was another. Camera Company, but of course, they ended up getting killed initially Fuji Film. was beating them up in film, but eventually, the digital camera which they even invented by the way basically destroyed their industry and it's really a shadow of what it used to be, and all of a sudden donald trump comes out and announces that the government is loaning. Kodak, seven hundred and sixty, five, million dollars. So that Kodak can get into the pharmaceutical business and they're going to be manufacturing ingredients. For Pharmaceuticals and I just read I guess in a press release, this money is going to fund the launch of this pharmaceutical division within Eastman Kodak, right? So that they can make theus the essential drug components that are now in in short supply, right. In first of all, what are the reasons that we have such a short supply of drugs while because we drove all the manufacturing abroad right based on excess government spending, excess regulation. AH, lack of domestic capital to artificially low interest rates and an overvalued dollar, right? We, we exported, that industry. But the point is. Why is Kodak? Going to the US government to get this money. Right. Why isn't Kodak getting the money in the private sector, and of course, you know Kodak Stock, first of all was under two dollars a share. In March under two bucks, it hit a highest sixty dollars this week. Now, it pulled back, it closed at twenty, one, eighty five, but still a big gain, there's some insiders that were sitting on some stock options that were worthless before this deal was announced, and now these guys are GonNa. Make millions and millions of dollars off this government deal. But. If. Kodak. Actually had a viable. PLAN TO ENTER THE PHARMACEUTICAL MANUFACTURING BUSINESS, why does it need the US government to fund it? Why can't it funded privately? Why can't it issue new stock to fund this new? Pharmaceutical. Division, why can't it sell bonds to the private sector to finance this pharmaceutical division? Probably because it's not going to work, it didn't happen in the private sector because there's probably no in dumb enough to finance it. There probably wasn't a viable business plan there. That would. Result in the private sector, willingly diverting resources to this project because after all I mean any money that goes to Kodak to start a pharmacy division is savings or money that cat go someplace else. There's a limited amount of it and you gotta decide what business ventures you you want to fund, and you're going fund the ones that have the best chance of giving you a good return on your. Your investment? Probably Kodak didn't have a prayer of getting seven, hundred, sixty, five, million dollars in private sector because what they were doing isn't worth seven, hundred, sixty, five, million dollars meeting if they borrowed seven, hundred, sixty, five, million dollars, they probably could never repay the loans and so the lenders would lose money. So they didn't want to win, and so the US government decides, Hey, we'll do it. We'll make this dumb loan that nobody would be willing to make with their own money because what we give a damn because it's not our money. In fact, it's not even taxpayers money the feds GonNa print it, right. So Donald Trump is basically going to direct fed reserve to print up an extra seven, hundred, sixty, five million dollars and give it to code I can call it alone. The odds of this loan being repaid are pretty slim. But what this is is socialism that is this Kodak moment that nobody wants to acknowledge, and it is not a pretty picture. It is socialism or fascism or whatever. You WANNA call it. But it's the opposite of what Donald Trump promised. This is Central Government planning this government bureaucrats, picking winners and losers deciding that Kodak? Should be a pharmaceutical manufacturing company and the US, government is going to loan money to Kodak Look. If. The is it. The US government was such great venture capitalist. See what they're saying with Donald Trump and his cronies are saying is that we spotted this Jim right all the other private equity funds or hedge funds or all the other investment banks. They overlook this I mean, this is a great deal like. The geniuses at the US government at investing other people's money have decided that this is the best place to fund alone for a drug manufacturing company. Right. This is nonsense to believe that the wisdom of central planners is better than the market and that people investing other people's money will make more rational better decisions than people investing their own money and I know A. A lot of these hedge funds or private equity guys. There's other people's money there too. But they also have a lot of their own money at stake. Most of the guys that run these funds, they're the largest investors. So they got a lot of skin in the game. The government has no skin in the game. That's why they shouldn't even be in the game. But. This game is not capitalism that they're playing. Right. This is socialism and trump is leading the charge. So we've got this much socialism under trump. If we got trump saying, the governor has to take care of the people. If we got trump saying the government should should pick winners and losers and directly fund companies. Again, I went over the constitutionality. There's nothing in the constitution that says, the US government can loan money to anybody. The US government could borrow money that's authorized in article one section eight, but they're not authorized to lend money. It's an unconstitutional expenditure anyway, but if we have a president. Who says, he's not a socialist acting like a socialist imagine what's going to happen when we get a president who would admit to being a socialist? I mean imagine how much more Biden is going to act as a socialist, and of course, you know again, who knows who is going to be the real president when Biden's elected, I? mean he's going to be elected I mean he's going to be the oldest president ever. In fact I think he's going to be older when he was elected. Then Reagan was when he finished when he left office and he's already losing his mental faculties. So who knows I mean if he ever got corona virus, that'd be it, right? I. Mean. Talk About Co Morbidity Better keep this guy in isolation. If he even gets a cold, that could be end of Biden. So the vice president is going to be very key. We'll see who he picks there. We know one thing it's going to be a black woman, right? Because he's already acknowledged that he is going to discriminate against everybody else nobody seems to care. That Biden is basing his hiring decision. On race and gender, and he is discriminating against all men, even if they're black or Hispanic or Asian you know, no men are under consideration. You have to be a woman and then you have to be a black woman. so He's discriminating against white women against. Hispanic women against Asian women. But apparently, that's okay. As long as you're discriminating in favor of a special select class, then you discriminate all you want against everybody else even if they are also. A member of one of those sacrosanct become classes. Anyway, that's it. For today. What a remind everybody on my youtube channel checkout, there's a couple of new videos I posted up. We're almost at three hundred, sixty, thousand subscribers now to my youtube channel. So if you're not a subscriber, take an opportunity to do that, but I actually posted a a panel discussion that I took place in the Atlantic hosted and it was I think two thousand twelve and they were really praising Ben Vernacular, they had just come out with that cover where Ben Bernanke he was the hero and I had a lot of bigwig mainstream economists that were up on that panel with me. And I remember some people video way back when a couple of them got a really a lot of us. But I had never had the video on my youtube channel and when someone had sent it to me again, I looked at it, and there were so many things that I said during that panel that were so appropriate to right now because really what I was talking about was the next crisis that was being created by the Fed and the next crisis is about to happen. Now, when I was doing that panel, I believed that the crisis that the Fed was creating was going to happen sooner. Instead, it's happening later. So there was a longer gap between the. The mistakes at the Fed made following the two thousand, eight financial crisis and the payback right they. So the winds along time ago, and it's taken longer than I thought to reap the whirlwind. But now it's going to come even bigger than I ever thought. So I thought that it was a particularly good time to upload that discussion that panel onto my youtube channel. So it's they're also just last night. I put up a short three minute clip of some of my recent appearances on Fox business. You'll notice that two of the appearances are with Liz claiming basically as far as the mainstream is concerned, Fox business is the only. Network, that will have me on and most notably list claiming, but Charles Pain. He had the on as well. But I have a few Fox businesses appearances. I have a little bit from Joe, Rogan. And Cambridgehouse but I put this together. Using it as an add on youtube to try to get investors. So but I put it up there to see what people think about it. So give it a look share it, but the goal ultimately of this particular three minute clip, and that's why it's so short is I'm going to run it as as certain key words so that I'm GONNA target investors to get them thinking about changing their investment. Investment Strategies to conform with what we're doing your Pacific capital, which is getting people out of US dollars and starting to think about inflation, and the effect inflation is going to have on your portfolio. Just like I said earlier in the podcast about treasury bonds don't think about the US government defaulting think about the US covered inflating think about not that you don't get repaid but that you do get repaid. The money that you're paid in buys very little or maybe nothing at all, I want people to start thinking about those realities and then acting on the now while they still have a chance by opening up accounts and be. So I can get them out of the dollar and build foreign portfolios. Get them dividends coming in foreign currencies, get them some exposure to precious metals and mining stocks. So if you haven't already done that, do it yourself, but you can also share this link with with your friends and maybe they'll end up becoming clients of Europe, Pacific capitals, wall, and by the way I am. Am now up to forty thousand followers on instagram. Thanks to everybody who is now following me. But still I got a bunch of slackers because again I'm it what getting close to two, hundred, seventy, five, thousand twitter followers, and as I said, almost three, hundred sixty thousand youtube subscribers, forty thousand instagram is pretty pathetic. So I got a much larger audience out there. I know you guys are using instagram right instagram very popular, and so you're on Instagram, just go to Peter Schiff and follow me. I am cooking up some really good content fact I think we just brought on a guy fulltime. Who is going to be helping me with content for Instagram I? Really WanNA. Try to utilize that platform. My wife in particular is very excited. She's been really pushing me. About, instagram and so I'm doing it. But obviously, the more people who are following me on Instagram, the more effective I'm going to be because now I have a bigger base that can help me spread the message. So I really want to get up to one hundred thousand at a minimum. Followers on instagram. So if you're not following me, you're on Instagram, do it, and if you're not on Instagram, we'll just get on instagram just sign up for the specific purpose of following the. That's it for now have a great weekend everybody, and again, it could be a very interesting Sunday night.

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