Kind: captions
Language: en
Elon launches the America Party. The
Epstein files finally released, but move
along. There's nothing to see. Protests
erupted in Mexico City over American
immigrants ruining Mexico. I kid you
not. BBC employees sign a letter saying
they were forced to do propaganda for
Israel. Massive flooding in Texas leaves
more than 100 dead. 96% of AIs
threatened to do something terrifying if
you unplug them. You're not going to
want to miss this one. And Philadelphia
has been turned into a PvP server.
The Big Beautiful bill passed over the
weekend. Uh Trump signed it on July 4th
and as Elon promised, the American party
was started the next day.
All right. So, when the Big Beautiful
bill was signed, I realized, and I'm not
kidding at all, uh America is going to
go bankrupt.
That that was like a breaking point for
me where I was like, whoa, like this is
actually going to happen. Uh, I will
continue to write deep dives and talk
about this topic endlessly, but at some
point I realize I'm only speaking to
individuals who can protect themselves.
I mean, obviously, I hope that enough
people do something that makes sense for
themselves, uh, that it ends up having a
ripple in terms of how people think
about government spending, how they
think about fiscal responsibility, how
they think about money printing, how
they think about debt. Um, but I no
longer think that there is a party to
elect that won't print money.
Um, I mean, we'll see. I think you're
way more optimistic about the American
party than I am. I think that it is
inevitably going to be a spoiler party
that will right now it will be most
closely aligned with the Republican
party, so it'll put the kibos on them.
Um, but I think ultimately on a long
enough run, if you have a third party
that is as wellunded as Elon Musk could
make it,
you are whatever party is closest to the
America party will be the one that gets
their vote split.
I think a lot of people at this point
are politically homeless and I think
that there are a lot of non-magga
fiscally conservative Republicans and I
think on the left side there's a lot of
I don't want socialist communist in
America Democrats. And I think over the
years those people have had to kind of
bite the bullet. Lesser of two evils
voted for candidates they weren't really
excited about. So in my take I think
that 10 15 20% of Democratic parties uh
loses and goes into the American party.
I think 10 to 20% of the Republicans
kind of go and instead of it being a 48
49 that we seen for the last few
elections it becomes more a race to 37 a
race to 40 type thing. Um and it kind of
spreads that. So, I'm more optimistic
that this third party would actually
help the politically homeless who want
to have a nononsense if you could do
whatever you want to do. I just don't
want to federally pay for it. I want to
have a balanced budget. I want to make
sure that we're the money that we do
spend in government is going toward
education programs and certain things
like that versus senators and uh House
representatives that's been there for 40
years. So, I think there is a silver
lining in all this. I don't know if
Elon's the guy to do it, but I voted
third party last election. I am team
third party. I think that's the one
missing component in politics that we
actually need in America.
All right. Um I'm going to plant my flag
strong so I can see over time if I end
up being correct. I you know me. I'm not
afraid to be wrong. But I really feel
strongly right now that it's going to
play out exactly as history dictates
that it will play out. You're in a
populist moment. We are at the extremes.
Not because there's no other party, but
because people are mad. They are
emotional. uh until they are not mad,
until there is a thriving middle class,
until they do not have a vision of uh
their country as this terrible horrible
place, until they um and whether they
think it's terrible, horrible because
communists and socialists are trying to
run away with it or they think it's
terrible and horrible because it's a
right-wing uh asane asylum. Like there
are so many people right now or because
we're on stolen land. Ah, like all of
the reasons why people may think that
this is a terrible place. Until people
think my kids' lives are going to be
better than mine, that I'm going to be
able to pay off my debt, I'm going to be
able to buy a house. Until they believe
that, they're going to be in their
feels. And as long as they're um in an
emotional state, history says that they
will vote for a strong man who will slap
the other side around.
That's what people want want right now.
That's what they're going to vote for.
And the first people to die in a
revolution are the moderates in the
middle. And part of the reason is that
they're getting attacked from both
sides. And part of the reason is they're
just not that big of a constituency. So
I think that there's like what do they
consider in terms of um I know that the
split on the vote between in the last
election was like less than 2% between
people that voted for Kla Harris versus
people that voted for Donald Trump.
Yeah. Based on the popular vote
uh and then I think swing voters are
like 7%. So it is it is a small number.
So even if 100% of the swing voters go
for the America party, that's still not
even remotely close enough to do
anything other than you have to get the
party to go, okay, listen, dear America
party, we need you to bring all of your
votes to us. And so you will see that
you'll see a battle for that middle
party to get them to endorse somebody.
So it will become that. Uh but I don't
think it's it's ever going to become a
uh thing where it gets 35 40% of the
vote and now oh finally all of us sane
people that make up some huge number uh
we have a place to go and like you I am
politically homeless like you well you
actually did vote for RFK. I had a rule
that if he wasn't going to be on all of
them I knew he was going to lose and I
didn't want to do a protest vote because
I actually thought uh that maybe we
could get some fiscal uh conservatism.
We obviously did not get that. Not by a
long shot. And some part of me knew. I
look I was conflicted in the beginning.
I thought maybe just maybe that with all
of the Doge talk and all of that that we
actually Yeah. Yeah. Yeah. some some
meaningful cuts. Um, the more I studied
history though, the more I studied the
uh, modern monetary theory and the way
that the big debt cycle goes, the more I
realized, oh, I'm not sure if you could
elect anybody at this point that would
not print because you have to
fundamentally change the system. Now,
maybe Elon sees it well enough to
understand the Fed has to go. He
certainly pays attention to Rand Paul. I
think he's acknowledged Ron Paul in the
past uh who were I don't know if Rand
Paul has said it but Ron Paul certainly
has said you just have to abolish the
Fed.
So in fact he wrote a book literally
with that title.
Um so we'll see. But the half the
country absolutely despises Elon Musk.
So
he's probably not your guy anyway.
Yeah. So because of the populist moment
that we're in right now, you think
regardless American party, if Elon and
John Stewart and all the celebrities and
people that we use to offset our
political leanings to, if they even if
they got together and somehow somehow
came with a coalition of people, it's
just not the right moment for this
party, you think, or is it just
It's not the right moment for the party
for sure. uh and those people will never
come together anymore than Elon and
Trump did and they will
uh end up shattering into a bunch of
other little parties and so there there
is a reason that these things like break
apart
there as much as I do not like the
political outcomes that we're seeing
right now
I don't know that having a bunch of
parties is the answer now again this is
not the thing that I've gone super deep
on but every week I go a little bit
deeper and a little bit deeper and every
week I'm like huh My original intuition
seems like it's going to play out.
I know we have a clip from Ron DeSantis.
Let's play the clip from Ronda Santis
and I'll give you more on that.
When you do another party, especially if
you're running on some of the issues
that he talks about, you know, that
would end up if he funds Senate
candidates and House candidates and
competitive races, that would likely end
up meaning the Democrats would win all
the competitive Senate and House races.
And so, look, I'm a Republican. You
know, I don't want to see that happen.
Uh, I think if you wanna um, you know,
get get involved and hold accountable,
you know, we do have a problem in the
Republican party with these con DC
congressmen, they always run saying
there's out of control spending and
they're going to spend less and they
never do it. The reason that neither
party is ever going to stop printing is
as we've talked about in the deep dive,
the modern monetary theory, you
actually, and that is the system we
have, you actually must, as a matter of
physics, print more money to pay the
interest on your debt.
So there is no way to not print more
money. Now, if you're going to print
more money, you have to have a reason to
print money. And right now, the deficit
is the reason. And because you're in a
populist moment, all of the voters on
every side are like, I want to get my
piece of the pie. They have a an
emotional intuitive sort of vibe about
the American dream is dead. They're not
going to be able to articulate why.
They're just going to say everything's
too expensive.
And because they can't get into a house,
because they're buried under debt, they
just want somebody to come in and make
sure that they get a piece of the pie,
whatever the pie is. And like when you
feel like you're fighting for your
survival, it's like give me my stuff. I
don't care what happens to other people.
Just get me mine.
And so when you elect somebody whose job
is to get you yours, then all of a
sudden, yeah, it's like I don't care
that we're going to spend money. They
don't understand that America actually
will go broke. And I'm going to say
within the next 10 years.
Um so like that feels now self-evident.
Obviously, I hold out in the most deep
recesses of my soul, I hold out hope
that we will change course. But if we
don't change course, America will go
bankrupt. That that's it's math. You
think that Trump's got if he um he
himself has three and a half more years.
So now you're you know talking what six
and a half years left. Uh if he passes
the baton to anybody as far as I can
tell, Democrat, Republican, won't
matter. Uh rep I think your only chance
your only chance is to get a Republican
who is fiscally conservative and that's
not gonna happen. Uh so
I I don't I don't think there's anybody
to pass the torch to. So now you're just
like the only thing that will get us to
change course is pain and suffering.
Yeah. I like that Dantis took a
constitutional approach. Let's keep
listening. Honestly, if you're concerned
about the debt, I wouldn't even worry
about that because I don't think just
electing a few better people is going to
change the trajectory. We need the
incentives in Washington uh are going to
lead to these outcomes really regardless
of the outcome of elections at this
point. So, you need to do a balanced
budget amendment to the US Constitution.
And you can do that through the states.
You can do it through article 5. We've
got 28 states that have approved this.
there's another four or five that are on
the docket. Once you hit 34, then you
write an amendment and then the states
are able to ratify that. You need three
quarters. Um, you know, if Elon wanted
to weigh in on that and work on those
state legislative,
term limits and having a balanced budget
uh amendment into the constitution.
Yep. I like that this is a
constitutional approach, something that
we don't talk about enough. We always
want to legislate it, come up with a new
policy, print more money, where the
founding fathers kind of gave us these
backdoor ways in the original document
that we should be utilizing a little bit
more.
Yeah. Watching this clip one, you can
feel he's groping for this is a
structural problem. We need to solve
this structurally.
uh I don't I doubt very much that he
understands economics well enough to
understand what the real root problem is
but at least his solution will start
marching you down that road. Now the
problem is because you still have modern
monetary theory even if you put in a
fiscally balanced budget uh mark my
words you would have some other crisis
that would allow for more money printing
because again if you don't money print
you can't pay the interest
so you have to money print because there
isn't enough money in the world. It's
like once you understand how this
actually works. I mean I mean that
literally if people have not watched my
deep dive on this every dollar in
circulation is tied to nothing. it came
into existence as an interestbearing
loan. That means that if there's uh
let's just say a trillion dollars, you
print a trillion dollars. Okay? Well,
you owe a trillion and $50 billion in
interest. But in this example, only a
trillion dollars exists. So, where do
you get the 50 billion? You have to
print again. And that's exactly what
we've been doing. That that isn't a uh
it's not speculative fiction. That's
actually what we've done. So every
dollar that we've created since 1913
when we created the uh Federal Reserve
Act or we created the Federal Reserve
with the Federal Reserve Act um
we have been printing money into
existence is not backed by anything like
it used to be. Uh it's just fiat. So uh
every dollar that comes into existence
you owe some percentage on in the
neighborhood of 5% and the only way to
pay that is to print more money. It's
absolutely absurd. is the system. And I
know right now if people are
encountering that idea for the first
time, they're confused. They don't even
understand what I'm saying because they
cannot comprehend that money comes into
existence as an interestbearing loan.
That there is a company, a semi-private
company owned by dudes and dudetses who
who literally are the only people that
get to go, "My product is made up. It's
made up." Drew, imagine you're Nike. You
don't have to make shoes. You just get
to say the shoes exist and you give
people like uh a piece of paper that
says you own a pair of shoes, but you
don't actually own a pair of shoes. Like
this is insane. And because I don't have
to go source the materials and get
somebody to make it, my product just
magically exists and people have to pay
me interest on it. Oh my god. Like
people cannot believe that that's true.
That every word I just said is true.
Okay. So what what I'm hearing is for
every dollar there's a $15 owed back to
it automatically.
However, if we were balanced budget,
fiscally responsible, we collect 4
trillion in taxes theoretically,
couldn't we pass a $3.5 trillion budget
and then leave that surplus quote
unquote to be interest bearing payments
or something like that?
Because you dude, you made the trillion
dollars.
Mhm.
But you owe a trillion and 50 billion.
No matter now, let's say you don't spend
any of that trillion, you owe a
trillion50 billion, but you only have a
trillion. You are always, even if you
pay back all of the principal, you still
have $50 billion in interest payments.
And by the way, if you don't pay all the
50 billion in interest payments as you
go, it goes up even more. So, you have
to print even more money. And guess what
we're doing? We are racking up debts.
We're at 36 trillion and climbing. We
add like a trillion dollars every 100
days.
Insane but true.
Uh and your interest payments are going
up, which means you have to print more
and more money. So what's the real game?
The real game is the bankers understand
you're never going to be able to pay
that money back. But what do they care?
It was all free. They made it up out of
thin air. So every dollar they get in
interest payments is free money for
them.
In 1913,
the 25% of the world's wealth met in
secret on Jackal Island and they came up
with this plan called the Federal
Reserve. And this was the whole game.
We'll loan people money that we make up
out of thin air. They'll pay us
interest. We'll get the interest and
then uh we know it blows up at some
point, but as long as taxpayers are
forced to bail us out and the real
economy is still turnurning out money,
it will blow up. a bunch of people will
get killed in revolution or civil war.
It is what it is. We just make sure that
it's not us. And as long as it's not us
on the other side of this, we get bailed
out and we just keep the system going
because people do not understand this is
how the system works. And so you've
already and that's why I'm saying they
will make up a if if we balance a
budget, I'm being a little flippant when
I say this, but it is so directionally
correct. If we balance the budget, we
will go to war because they need a
reason to print the money and to keep
the interest rolling in. They need it
and they're just going to keep number go
up. And uh I don't think I have to I
mean go watch the deep dive. I go
through all the wars we've had since
1913. It is hysterical. It it it is
essentially constant. I forget the exact
percentage, but it's something like this
is so close to accurate. 86%
of the years between the founding of the
Federal Reserve and today uh some war
that we've been involved in has been
taking place.
Sheesh.
And that justifies the additional
printing, the additional interest
because bro, it's national emergency. We
got to go handle this. And so, uh the
only way to meet these deficits is to
print money. And now that you have a
populist moment, great. because now
everybody is demanding for deficit
spending and so the deficit just covers
it all. But listen, we should balance
the budget. And the reason we should
balance the budget is because you at
least slow the train down.
And uh far better for you to slow the
train down and hope that you can do
something like make AI so um productive
that you can grow your way out of this.
Because if you can balance the budget
and grow your way out through
productivity, then and only then would
you not have a problem. Because you can
print money. I can't believe I'm going
to say this. Because you can print money
and you won't feel the negative effects.
The way that this works, the reason that
inflation isn't one for one for every
dollar that's printed is right now
entrepreneurs are working themselves
near to death to innovate. that
innovation is secretly driving costs
down. Now, you don't know that and you
don't feel that. You feel like costs are
just going up because for every dollar
that an innovative entrepreneur can
drive the cost of something down, then
the government can inflate the currency,
print money, uh to eat up all of that
before you notice. M
and so when you feel 2% inflation or as
from 2020 to 2025 there was sorry 2020
to 2024 there was 25% inflation.
Yeah.
Uh the reason that when you feel that
they've eaten up all of the
depressive nature of innovation. So they
gobble through all of that and then
print more.
Sheesh. So it almost feels like it's
more than the 25%.
It doesn't feel like it. It is way more.
If people understood when when you look
at the graph, I don't know if you can
put your fingers on it fast enough, but
there's a graph that shows um I think
it's the M2 money supply and it shows
like how dramatically in like the last
30 years that we've inflated money. It
it is heartbreaking because you realize
that they have gobbled up all of the
innovation plus
God only knows how much more. I mean,
it's just absolutely absurd. We'll get
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And now, let's get back to the show.
Okay, we opened the show with it. This
Epstein list. Um, people have been
waiting for it. We got binders. We got
press junkets. We had Pam Bondi saying
it was sitting on our desk.
I need to know that you guys are all
looking at your phones right now.
Whatever you're doing, stop. You've got
to see this meme. This is too fun.
I feel like Elon nailed it perfectly. U,
we will release the Epstein list. We
will need We just need more time. The
Epstein list is on my desk. There is no
Epstein list. full clown suit.
Um, oh my god. Let's I don't even know
where to begin on this one. Let's start
with the uh
start with the Cash Patel on Benny
Johnson on his show saying uh why why
somebody would hide the list. This is
Cash Patel everybody.
Simple because of who's on that list.
You don't think that Bill Gates is
lobbying Congress night and day to
prevent the disclosure of that list? And
why is it that the Senate, you know, and
good for Senator Blackburn to try to get
it out, but then Dick Turban comes over
the top and says, "No, we're not going
to release the names. I don't care about
the list itself, but he released the
names, right? What the hell are the
House Republicans doing? They have the
majority. You can't get the list. You're
going to accept Dick Durban's word or
whoever that guy is as to who is on that
list and who isn't and that it can and
can't be released. Put on your big boy
pants and let us know who the pedophiles
are. We have an election coming up and
we need to adjudicate this matter at the
polls. God knows the FBI and DOJ aren't
going to do anything. But how are you
going to
That's Cash Patel, the now FBI director.
Uh we we need to play Cash Patel's
updated language.
Don't believe it. Well, I mean, listen,
they have a right to their opinion, but
as someone who has worked as a public
defender, as a prosecutor, who's been in
that prison system, who's been in the
Metropolitan Detention Center, who's
been in segregated housing, um, you
know, a suicide when you see one, and
that's what that was.
He killed himself. You again, you want
me to I've I've seen the whole file. He
killed himself.
I know it's hard work.
The so interesting. Listen, I want to
make sure everybody understands. I have
no idea what happened. I have no idea
what's on the list. This is like a full
conspiracy corner, but boy oh boy, uh
this seems ridiculous to me that um
okay, you've got Glain Maxwell in prison
for what exactly? If this is just Epste
was trafficking people to Epstein
himself, uh that there were no other
names. um that nobody else is on the
list that all of the video footage is
just him. Uh the footage that they
release, as far as I know, and maybe
there's something I haven't seen, but as
far as I know, the footage of his cell
is literally just the outside of the
door. Uh release the moment where people
walk in and you see that they're like,
"Oh, damn." Like he's dead. Is there a
big reaction? Why don't you release
that? Uh because if the cameras if the
cameras were on inside the cell, which
we were told they weren't, but if the
cameras were on inside of a cell, then
show that footage. If the cameras aren't
on inside the cell, um, then you
wouldn't know that he was dead until you
open that door and look inside. And
they're, as far as I know, they have not
released that footage. Dude, this is
just so wacky. Like, if this is I think
it's We're about to play a clip from
Putin, who I think actually explains
what's really going on here. Uh, but if
it isn't that, and this is just bad PR,
this is like the most mishandled thing
I've ever seen in my life. This is
absurd. But here's Putin giving what I
think is probably the most likely answer
to what's really happening.
And this is in Russian, so I'll I'll
read it over it. Presidents come and go,
but politics does not change. Do you
know why? Because the power of
bureaucracy is very strong. A person is
elected. He comes with some ideas.
People come with him with cases,
well-dressed, and in dark suits like
mine, but not with a red tie, but with a
black one or with a dark blue one. And
they begin to explain how to do it. And
everything immediately changes. You see
this happens from one administration to
another.
It is quite difficult to change
something.
I say this without any irony. It's not
because someone doesn't want to, but
because it is difficult. Take Obama for
example. He's an advanced man, a man of
liberal views.
A true Democrat.
Before his election, he promised to
close Guantanamo.
Did he do it?
No.
Why did he not want to? He really wanted
to. I'm sure he wanted to, but it did
not work out. He was sincere about it,
but it did not work out.
Yeah, I think that um
this is pure instinct. I have no
evidence that nobody else has access to,
but my gut is that there are people from
uh the highest strata of elite power,
politicians on both sides. This would be
deeply inconvenient if not outright
incriminating for
presidents, former presidents. I mean,
listen, I don't know that. I don't know
that. But when you see that he has a
painting of uh Bill Clinton in a dress,
when you see Trump with him back in the
80s like laughing and having a good
time, dude, it's just I I don't know.
Call me suspicious, but it just seems
impossible that uh Prince Andrew is the
only person that did anything wrong.
That just seems very unlikely to me. Uh
so yeah, that's uh that's a lot of
supposed sex tapes that there were what
10,000 plus sex tapes, hundreds of
victims, but all just uh what's his face
in Prince Andrew? I don't know, man.
That this is so dicey, especially
because you had Cash and Bonino going so
hard in the paint before they
got theoretically allegedly allegedly
visited by men in dark suits with black
or dark blue ties. He's very specific on
that. Uh
this this is
nuts.
Yeah, it's not happening. Nuts.
Diddy got off. Epstein list disappeared.
We're never getting to the bottom of
No, there's no way. There's no way,
dude. But are I'm legitimately freaked
out that you can actually have something
this ridiculously obvious
just out in everybody's face
and they're like, "Bitch, no, you ain't
getting you're not getting it." All
right, before we continue, we got to uh
give our hearts and thoughts and prayers
to Texas. That crazy flash flood that
went from zero to 100 really fast. Um
the death toll as of right now has
surpassed 100 people. A lot of them
being kids cuz there was a camp that was
camp that uh there was a campground that
got like swept up in all this. So yeah,
just a really bad weekend, especially
July 4th weekend, too. Um summer camp.
Like it's the worst worst of the worst.
Yeah. And people are trying to
politicize this saying that this was a
Trump problem. uh that he had defunded
the what National Weather Service. I
think that's what they were claiming.
But they had put out tons of warnings.
Um I think the earliest one came out
like 19 hours in advance or something
and then the other one was 3 hours in
advance. Like they were trying to tell
people
um this is just
but in all the time lapse videos and
things that we're seeing, it went from,
oh, okay, I see something down there to
completely taking over devastating area.
like it it is effectively instant if you
don't see it coming and you're in like
the wrong lane and then from side to
side being completely covered it's like
2 minutes.
So dude, like I'm not even sure the
video footage that we're showing right
now, I'm not even sure the average
person could run from one side of that
to the other in two minutes. So it's
like if you're caught in the middle and
you don't realize it's coming at first,
like you're toast.
So
yeah, literally the time code that is
going on right now took place over 40
minutes. Um, and by minute six, uh, the
water is already rushing. So,
it's tough. It's tough. So, hopefully
they they can find some of those kids
and it's all gone. But, yeah, lost a lot
of kids. So, that was sad.
That's brutal.
Um, all right. Now, let's take it down
to Mexico City where I kid you not, a
lot of Mexican residents were up in arms
over the weekend. Um, some calling it
Antifa and comparing it to the LA riots.
I don't know if Antifa has a Mexico City
uh,
branch
branch division. Hey man, the they were
looting, they were rioting, they were
breaking windows. Um, it looked pretty
bad.
And this was part of an
anti-gentrification protest that
happened over this July 4th weekend.
It's crazy. So, I guess uh going to
different places. And
here's the thing, like I I don't know
enough about Mexican economics, but I'll
assume that they're in the same
situation that they are just piling on
debt. um that they're borrowing from the
IMF or god knows who. I don't know if
they have their own central bank.
Uh but yeah, I'm going to guess this is
debt, money printing. If they're doing
the same thing, that's the thing that's
making housing prices just race away
from them, making everything too
expensive. But of course, um people are
going to focus on the things that they
understand intuitively, which is house
price out of reach. People must be
stealing from me. uh I've got uh
immigrants and let's get the hell out.
Now, here's the thing. If you are an
American and you're living in Mexico and
you are not integrating with Mexican
values, you're not learning the Mexican
language, what are you doing there?
So, I get the animosity. I understand
why people are going to be frustrated by
that. And if there is some economic
knock- on effect, uh like if they're
contributing to the housing prices going
up, people they're going to understand
that one far easier than they're going
to understand the economics that are at
play.
Uh so and any especially if you're
importing people that can afford things
you can't, that's really going to be a
windup. So uh yeah, this is not
super surprising, but it's certainly not
cool to see them painting Killer Gringo.
Um
it's interesting from an economic
perspective because I think this is the
opposite thing that's happening where a
lot of times the people who are uh
nomads technomads uh it was a rise of
techno nomads after the pandemic and
remote work happened. So a lot of people
went to Mexico City it was cheaper cost
of living. I can rent a nice apartment
this and that and eventually that can
distort the rental market so that way
native Mexicans couldn't even afford
their background. Yeah. I mean, listen,
the lesson hopefully that everybody is
learning is that when you just blow open
your borders and let people go wherever
they want that there it is going to be
wildly disruptive, wildly disruptive.
And so if you want to protect your
values, if you want to protect your
economy, you've got to be thoughtful
about the physics of that economy. And
so whether it's um America sending all
the jobs offshore, importing uh
immigrant labor and all of the
distortionary effects that that's had on
our own markets, or whether that is
bringing in people that can afford
things that you can't afford and now
they're driving up the costs and they're
pricing you out. It's a very similar
complaint about New York. Like New
Yorkers that were born in say the 50s
are like, I've been priced out of my own
hometown. Like this is bananas. Like
I've had to push out to the uh more
remote burrows and stuff. LA County as
well. Same thing.
Yeah. So, it's like
when it's when it's your city and it's
other residents of your state or your
nation, not a lot that you can do about
it, but it's going to be it's going to
make people feel some kind of way when
you're bringing people in from outside
the country. You're seeing this all
across Europe. You're seeing this
obviously here in America, and you're
apparently seeing it in Mexico. Uh yeah,
I'm not surprised. This is yet another
reason why I do not love living through
a populist moment. Um, it's just so much
anger going in so many different
directions. So, we've got some more
raids happening here in Los Angeles,
literally breaking news right now, and
this is a it's largely political
theater, but it's the same idea of what
you see happening in Mexico. You have
people that are actually being
traumatized by an economic setup. Uh,
immigration does play a role. My beef
with immigration is very little about um
people that have been here for five, ten
years doing their thing in LA. uh
largely because you're importing people
with Catholic values which we can
certainly die tribe on but um I am way
more worried about assimilation which is
why I'm equally like I think it's
ridiculous that an American would go to
Mexico and not assimilate in Mexico just
as I think it's ridiculous if anybody
from anywhere in the world comes to
America and doesn't assimilate with
America like you're going to have a
problem. Uh so now you've got the clash
of cultures because I think this is
largely a question of uh Democrats
versus Republicans. This is uh a
sanctuary city LA rep by Karen Bass
colliding with Trump.
And when I look at I mean you said this
so well like seeing people on horseback
like coming across the park is crazy.
Yeah. And this is what she tweeted
earlier today again. Yeah. Karen Bass
happening right now. This is footage
from today in MacArthur Park. Minutes
before there were more than 20 kids
playing. Then the military comes
through. The second I heard about this,
I went to the park to speak to the
person in charge to tell them it needed
to end now. Absolutely outrageous. Um I
I I mentioned it earlier. There's like a
cameraman running down there and filming
it. It just seems like
it's This is why Trump can't beat those
fascism charges because every time it's
like, "Okay, now that's for immigration
or okay, that's because of the economy."
Like he always has these outs and then
you have him marching across seemingly
mostly empty park on horseback and armed
and militarized. Like who what who are
we getting? Who are we going after?
What's the target?
Figure out why they're walking in these
weird like lines. Like is that all them?
I can't I don't know who all the people
are. So I guess it's entirely possible
that some of the people walking in these
lines are not actually ICE agents cuz
they look like they're trying to comb
through the woods to find a dead body.
uh they're walking in that kind of
formation, but there's literally no one
around them.
So, uh that seems weird. But then Karen
Bass is saying there was a bunch of kids
playing here and then somebody was like,
"Oh, really?" And they put up footage of
uh basically fentanyl addicts like all
over the park. And so it's like, listen,
th this is not the game we want to play.
The parks have become an absolute state.
So let's let's stay focused on one issue
at a time. Uh, do we want to see Trump
rolling through with people on horseback
walking in like these really wide single
file lines
combing through what looks like flat
grass like I don't you're acting like
there's people hiding in the bushes.
It's so weird. Uh, so
you had said something earlier that I
thought was really insightful, which is
that Obama was more effective at
deporting people and there wasn't like
all the freak out about it. Now, if
you're Trump and you know people are
going to read me a certain kind of way
and you lean into that, at some point
you're just chumming for your base that
you know as a populist leader your base
wants to see you go to these sanctuary
cities and metaphorically slap them
around and do your horseback marching
and roll in some tanks. Like that's what
your base wants to see.
But if you're actually focused on
listen, we've got a lot of criminals We
importing criminals was dumb. Got to get
them out. Let's start with that. Uh and
then next wave is going to be we've got
people that are here illegally uh
disrupting the job market or just plain
illegally. We don't know who's who. We
got to like get people out. So if you've
been here less than 5 years, whatever,
we're coming for you. But he's leaning
into the tropes.
Yeah.
So it just seems unwise from a man in
the middle America party. This seems
stupid. But from a chum the waters for
your base, it's like, okay, yeah, I get
it. And this is why I hate a populist
moment.
To your point, Karen Bass's uh tweet
blew up and a lot of people are saying,
"Well, sanctuary and they're the
illegals. Well, Biden let a million
people in. It's your fault." So, we
we're we're getting the spin and the
framing of the conversation different
versus again, if you want to deport
people, just deport people. Obama
deported everybody. We didn't see one we
didn't see any footage of horseback
riding.
And listen, though, part of that is
obviously the media was very much
prodemocrat. probably still is if we're
being honest, but you get you've got so
much independent media. I don't know. I
don't get howly about that now. It's
like I get it.
The mainstream media, which I don't
think they come anywhere near
independent media in terms of reach.
They're going to have a narrative
whatever. That's old school. I don't
really think about that.
Um but in terms of answering my own
question about yeah, how was Obama able
to do this so quietly? That's going to
be part of it. Now, is it all of it?
Probably not. I have to imagine somebody
would have been squealing from the
Republican side. If they were opposed to
what he was doing, if they thought that
it was bad optically, it would have
somehow found its way. Um, so anyway, I
think Trump is chumming for his base.
Yeah, it it seems that way. Um, and to
that, it was back in the kids in cages
uh days all those years ago where there
were a lot more uh instead of a catch
and release, it was more like more
catches across the like border and stuff
like that. So, um, it's different
different policies, different
enactments. So, we'll kind of keep
looking at and on top of this, Trump
just recently, uh, stripped more
protected classes of their temporary
status. Um, I want to say Honduras just
lost theirs and Nicaragua as well. And
like last week, he revoked. Um, the
Haitians won as well. So, there's now
these temporary visas, people who flew
in, had visas to come in. Um, yeah,
we'll see how the deportations go and
what the final numbers would be with the
big beautiful bill. he got an extra 90
billion to give to ICE and detention
centers and to secure the border wall.
So
yeah,
um even though border crossings are
practically zero. Um and he's doing all
this with no additional funds. So why do
we need additional 90 billion? Who
knows? Uh but we we'll we'll keep a
close eye on it.
These illegal immigrants are going to
have a surprise coming through when we
go bankrupt and it's not fun to be here
anymore. Oh, it's going to be a rude
waiting.
Everybody's gonna want to leave.
We'll see.
We'll see. We'll get back to the show in
a moment, but first let's talk about
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theory. And now, let's get back to the
show.
All right. Um, the B 100 members of the
BBC staff has signed a letter declaring
they're being forced to do PR for
Israel. Um, there was a tweet that was
downstream of this that also said that
there was a CNN uh petition that was
similar, but that hasn't been verified
as of yet. But,
okay. So, we'd have to look into how
left-leaning is the BBC. The left is
really turned on Israel. And so, I don't
know. We'll see how this plays out over
time, but man, Israel has done
themselves dirty.
Dirty like the world is turning against
them. That's rough.
Yeah. Man,
I we all we don't stand for
anti-semitism. We don't stand for u hate
or prejudice of any kind. I think the
Israel PR machine is starting to just
get exposed. And I think that this is a
social media thing. In the ' 40s, it was
okay because nobody could tweet about
it. In the 60s and the 80s, they were
winning and it was fine. You know, they
were they were defending their
themselves, so it was fine. October 7th,
something happened. We're defending
ourselves. We get it.
No, no one got it. By October 7th, the
world was already like
it was a terrorist attack. You can't
argue with a terrorist attack. They're
never about
Do you know how many people were already
like on October 8th before Israel had
responded in any way, shape or form?
There were pro- Hamas protests. I
remember there was a girl that actually
made a shirt and this was like a
Colombia, forgive me if it wasn't
Colombia, but it was like
Yes. Uh had a shirt with the paraglider
on it. I was like, damn. like that is
I Israel started losing people at some
point and I don't know when it happened
but uh boy it happened and the left is
just not here for it and your average
Jew is getting caught in the crossfire
and I would say that it's also going to
the right side as well because when we
were worried about us fighting in a war
a war with uh Iran because of Israel a
lot of MAGA split off and said we're
America first we're not supposed to be
doing this we got to stop helping them
so
the the days of a blank check to Israel.
Seems like they're running out. But
I mean, we'll see, man. I listen, I
don't know uh all the tactics that
Israel has used. But if one of them is a
whole lot of money,
American politicians like their money,
Drew, they like their money.
If there's one thing a politician in
America is going to do is get paid, is
going to get paid. That's it.
I've never seen a politician yet. like
it it may be that the public is done
and the sentiment turns against them and
on a long enough timeline like people
need to get reelected. So, we'll see. Uh
we'll see if they can bury it again. But
we just watched the Epstein files
vanish like cotton candy and water,
Drew. Like, have you ever seen that
little uh raccoon that tries to wash off
its cotton candy and it disappears? Oh,
that's what the Epstein files. In fact,
pull that up. Just write uh raccoon
tries to wash cotton candy. That that
that Yeah. Yeah. Yeah. Watch this. This
is the FC files, everybody. Where'd it
go? Where'd it go? I was just here and
now it's gone. So, we'll see. Drew, if
there's enough money, man, if there is
enough money. So, anyway, again, I don't
know. Uh this is not my area of
expertise, but
I've never seen that meme. That That's a
good one.
Oh god, that was hilarious. That poor
little guy.
All right. On July 4th, uh Sam Alman
dropped a technical capitalism
manifesto. Um interesting take because
AI had a bunch of news this weekend. So
it just seems that the leader in AI
right now having his take throwing his
uh hat in the ring. I'm not big on
identities, but I'm extremely proud to
be American. This is true every day, but
especially today. I firmly believe this
is the greatest country ever on earth.
The American miracle stands alone in
world history. I believe in techno
capitalism. We should encourage people
to make tons of money and then also find
ways to widely distribute wealth and
share the compounding magic of
capitalism. One doesn't work without the
other. You cannot raise the floor and
not also raise the ceiling for for very
long. The world should get richer every
year through science and technology, but
everyone has to be in the up elevator. I
think the government hugely does a worse
job than markets and so we need to
encourage our cult our culture of
innovation and entrepreneurship. I also
believe that education is critically
important to keep the American edge. I
believed this when I was 20, when I was
30, and now I am 40 and still believe
it. The Democratic Party seemed
reasonably aligned with it when I was
20, losing the plot when I was 30, and
completely to now and completely to have
moved somewhere else at this point. So
now I am politically homeless. But
that's fine. I care much much more about
being American than any political party.
I'd rather hear from candidates about
how they are going to make everyone have
the stuff billionaires have instead of
how they're going to be how they're
going to eliminate billionaires. The
American experiment has always been
messy. I am hopeful for another great
250 years. Happy fourth.
Okay. Uh that is a guy that does not
understand economics. So he he is a
brilliant entrepreneur.
Highlight he goes off the rail.
Okay. So uh first I want to highlight
something. He gets very right. The
American miracle stands alone in world
history. That is true. And people don't
know history well enough to understand
how extraordinary what America actually
is is.
Uh they are convinced that it's going to
be better somewhere else. look closely
enough at any of those places and you're
just gonna find that it it is like the
cotton candy in the water.
Um I think freedom really is the right
answer and I think he totally gets that.
Okay. Uh I believe in technoc
capitalism. Fantastic. Uh we should
encourage people to make tons of money
and then find ways to widely distribute
wealth. Okay. It does not work like
that. So what he's talking about I
presume is philanthropy. Now if somebody
wants to give away their money that's
wonderful but it unfortunately does not
create the outcomes that you want. So,
when was the last time that philanthropy
was just like massive, massive, massive?
I bet you can name the names.
Like Red Cross, like we're talking about
uh No, that's not really philanthropist
like people themselves.
Rockefeller, um
the Bill Gates Foundation.
Yeah. Well, that's now. But like when
you flash back to the old days, you're
going to name all the robber barons. So
all the robber barons were just
Carnegie Rock.
Exactly. And so they were like, "Uhoh,
we live in this hyper populous moment.
the wealth inequality has become so
absurd that the word on everybody's
mouth is redistribution of wealth. So
he's right. You should encourage people
to make as much money as they can.
You want to live in a system where
people are unchained from the shackles
of socialism, communism, uh undo
regulatory burden. You want them to be
able to build and create. I'm writing a
deep dive right now that comes out next
Monday about this idea. You have to look
at how the guilded age, which was like
1860 to 1890, ending in maybe 1900 if
you're going to clock it all the way
there. So, 30 to 40 year period there.
Uh, and we didn't we didn't have money
printing yet. True. So, wasn't because
we had a central bank. That doesn't
happen till 1913,
but we're having it again now. So, how
is it possible that we had these two
moments where we get this freakish
wealth inequality, no middle class, and
now the wealthy are like, "Uh-oh, I
better start giving my money away." It's
almost like the health of your society
is determined by are wealthy people able
to get wealthy? And are they terrified
to be wealthy? If they're able to get
wealthy and they're not afraid to be
wealthy because other people feel like I
could be wealthy, too. Like it used to
be that Americans the joke used to be uh
all Americans should vote Democratic
because you get more tax dollars
allocated back to you in the form of
entitlements. But they don't because
they consider themselves a temporarily
embarrassed millionaire.
And the reality is that should be the
truth that everybody has an opportunity.
You have to meet minimum intellectual
requirements, blah blah blah. You have
to work hard, all of that. But you want
people to be able to move up and down.
And the problem is it's not true
anymore. So it is we went from first in
social mobility to 27th.
So brutal that moving in the wrong
direction. So fascinating that we're
paralleling the robber baron era. So
they were just gobbling up a very small
number of people uh did basically
regulatory capture and a very small
number of people gobbled up the
industrial revolution. So railroads,
oil, steel, etc. Now what you have is
something different. Now you have money
printing assets, financialization
and and some innovation with information
technology and stuff like that. So okay,
cool. Like I get how people are making
their money but the problem is in both
um
moments we eroded the middle class and
eroding the middle class is the problem.
So then you have to ask how did the
middle class get eroded? Different
reasons in both times. one crony
capitalism, uh, regulatory capture. We
gobble up all the industries everybody
else can piss off. Now, in this moment,
it's printing money. So, if you don't
own assets, you're going to get just
blown