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With your homes. Rouni loved the Daily Show. I'm right, Shang. We got a lot to talk about tonight. Republicans leave unity on Red, the Trumps make nepotism great again, and we try to find a reason why Jdvans won't suck. But let's start things off of the Republican National Convention.
In our continuing coverage of Indecision twenty twenty four, last night was night too of the RNC, and it's been a very unusual convention because someone shot the candidate four days ago, and the media consensus after this was that this week would be about healing.
The attack on Trump has changed the storyline and the tone of this convention. With the former president calling for unity, something has fundamentally shifted here.
This is going to be a different tone.
This is going to shift what we are hearing from every single person who takes the stage.
It is about unity.
It's about coming together and supporting one another.
Now more trying to lower the political temperature here.
It's like a wholly different convention that we're going to see.
I think that bullet grazed his ear, but it impacted his heart. Impacted his heart, it opened his eyes, it lowered his cholesterol, and gorged his penis. But yeah, what on the street was that the RNC speeches were going to be civil and light now, so bring on the good vibes.
The democrats disastrous record on crime, trade and regulation has ruined the lives of countless Minnesotans.
Your family is less safe.
Biden, violent crime crisis.
Our children are dying. War on families, wealth, indoctrination trampled under foot by the radical left.
Biden and the Democrats are doing everything they can to tear down this great country.
America cannot afford four more.
Years of a weekend at Bernie's presidency.
Come my, come my, I mean, I guess this is toning it down. And for the record, it is totally unfair to compare Joe Biden's presidency to weekend at Bernie's. Okay, for one thing, Bunnie could pass as in a life person. Okay, also that movie gaw sequel. But it wasn't all death and destruction. There was also a lot of ass kissing, like from the coachair the Republican National Committee Laura Trump, Yes, Laura Trump. I wonder if they're related.
I know that I'm lucky enough to get to call him my father in law, my father in law, my father in law, father in law, my father in law, my father in law. And if not for the support and encouragement of my father in law, I wouldn't be where I am today.
Yeah, we kind of figured that. But hey, I'm not hating, Okay. I would love to have a father in law who gives me a career. I mean, all my father in law gives me is anger that I haven't given him a grandchild. By chill out, man, I'll hit it raw when I'm ready. But the l RNC has to win over more demographics than just daughters in law. So when the former presidential candidate at Indian Tintin vivek Ramashlami, took the stage, he made an appeal to young voters.
Our message to gen Z is this, you're going to be the generation that actually saves this country.
You want to be a rebel, you want to be a hippie, you want to stick it to the man, show up on your college campus and try calling yourself a conservative.
Say you want to get married.
Have kids? Okay, you know what diversity bring back to white people. It's like he expects us to believe all the cool kids I'm hanging out behind the bleacher is like, hey, after we finished not having sex, that's fun. Offshore fracking and as an Asian, I just want to make it clear that the vek Wrangswami does not represent me. Okay because Indians are not Asians. But if the VEG didn't convince young people that it is cool to be Republican, hey, check out this sick b is the mayor Megaville.
Baby, you know who we vote.
Vote?
We voted Donald Trump. Baby America. Me savan American. I didn't think it was possible to dishonor vanilla ice, but they did it. In fact, I wish I got shot in the year so I don't have to listen to that shit. But dude, like the Republicans don't remember they have Kanye Like, I know he's a bit of a Nazi now, but I really don't think this room will mind now. The main theme of Night two was making America Safe Again, which got off to a bad start
when Rudy Giuliani. He did an impression when he did an impression of his net worth and plummeted to the ground. I mean, don't worry everyone, He's fine, Okay. Fortunately, the only thing that can hurt Rudy is garlic and holy water. But the theme was meant to highlight crime and drug use in America, and some speakers came out to talk about how much real tragedy they've these last few years. My son murdered with a knife on the streets of
New York City. My beloved sister Rachel murdered, I suspected illegal immigrant.
I was insulted as a guest at the White House Correspondent's dinner.
Okay, okay, one of these stories wasn't quite as tragic as the otherwise. And hey, I'm not saying it wasn't painful that someone made fun of you while you had a free dinner. But maybe next time, just go before the widows and the orphans. So it's like an escalation of tragedy. But you know what, Sarah Huckabe Sanders was probably just ramping up. I'm sure she suffered a much worse tragedy.
My family was denied service and kicked out of a restaurant.
Okay, lady, you heard the speeches before you. Right there are people will like my whole family's addicted to fentanyl, and you're like, I know, right, and Chipotle totally skinned on my guack. Come on, you gotta give me something tragic, make me cheer up.
And a parent at my three year old son's preschool spit on my car.
Okay, Sarah is like, what is happening to America When someone can just walk up to my car and hawk t us spit on that thing?
Why are you.
Even don't applaud it, don't applaud it. It's why are you even mad about that? You're in Arkansas? Isn't that just a car wash?
There?
For more on the second. Now the RNC, we go live to Milwaukee with my cost them.
Thanks for Michael, Michael, how's.
It going to go over there?
Thanks? Ron?
It is great to be here in Milwaukee. You know, I know we canceled all our shows here this week, but I'm glad that I got to stay here in Milwaukee, which is where I am.
Okay, so Republicans and the media, we're really talking about how this country needed unity.
What happened?
Yeah, well it's boring, so they stop back to you, Ronnie.
Wait, that's it. All that talk about bringing the country together and lowering the temperature, and they couldn't do it.
Yeah, you know, old habits are hard to change. It's human nature.
I do it.
I'm always telling myself, Michael, you got to read more books. Day one, I'm cracking open war in peace. But day two I'm like, you know, porn hub has a comment section that's rooting.
Yeah, look, I know it's hot, but isn't it worth making the f to try and bring the country together?
No, it's not. It's actually an American division has always been a part of American identity. Hamilton versus Burr, the North versus the Confederacy, Tits versus ask still dividing families today, we're a nation built on disagreement. Where did this idea come from that the United States has to be united?
Okay?
I don't think that's right. I mean I feel like America has been united before, Like god, I mean after ninety eleven. Oh yeah, how'd that go?
Were united around invading the wrong country. You know, It's like my parents always told us as kids, we're not good together. Okay, look, we need one half of America to hate the other half.
Okay, So you don't think this assassination attempt is an opportunity for us to maybe change.
It's the opposite, Ronnie. I don't want some twenty year old gun nut forcing us to change who we are as a nation.
Think about it.
If we put our differences aside and build a better future, well, then the terrorists of one Okay, you know that.
That is the dumbest shit I've ever heard.
That's the most American thing you've ever said.
I hate you, dude. I'm Michael.
Talks to everyone, not.
Only come back overpass the goops.
Vice President, So don't go away.
Welcome back to a daily show tonight, Ohio sidedor JD. Vance officially accept the nomination to be vice president of the United States, but to much of America, Vance is still largely unknown.
Former President Trump's new running mate, JD. Vance has had a meteoric rise in the Republican Party.
The freshman senator was first elected in twenty twenty two. Raised in poverty, Vance enlisted in the Marine Corps and was deployed to Iraq. He later graduated from Yale Law School and wrote the best selling memoir Hill Billy Elogy before turning to politics, Vance is largely aligned with mister Trump's mega makeover of the GOP, opposing abortion rights and aid for Ukraine.
Wow.
I'd be kind of worried about this guy becoming president. But the good news is Trump is unkillable, so the point is moved. The question is is he the right person to be Donald Trump's running mate? For analysis, we turned to Daisili Deck in Washington, d C. And Jordan Klapper had.
The Republic of National Advancer.
Jordanda, that's not with you.
Trump just picked another white guy where you could have brought some diversity to a ticket. Do you think this was a smart pick?
Wow?
I don't want to put you on blasts, Ronnie, but jd Vance does bring diversity. He'd be the first vice president over one hundred years with a beard, a kick ass beard, a brosef strong, chiseled alpha beard. The face pube Celia has been shattered.
Hush, Ronnie. I'm sorry to interrupt, but Jordan couldn't be more wrong. Jade Vance is a terrifying prospect.
Oh? Is it because of his views on women's rights?
Yeah?
And also because he has a beard. I'm sorry, but I do not trust a man if I don't know where his neck is.
Whoa, whoa?
How dare you deasy? You have no idea what it's like to have a beard.
Oh believe me, I know what it's like. I have been a beard for more men than I can. I don't trust this guy. I mean, how can a man have empathy for the working class when he doesn't even care about giving me stash rash?
Oh, shame, shame, DESI shave. That is discrimination against the forgotten bearded Americans, The Lumberjacks, the metal band Basis, Travis Kelcey, Jason Kelcey, anyone involved in and around the brinding of pickles. All right, they deserve a voice in the White House.
Oh, come on, are you that superficial?
Jordan?
If I just slapped on a beard, would you vote for me?
Oh?
My culture is not your costume, DESI?
Okay, guys, guys, guys, come on, Just to be clear, Jordan, are you saying that you agree with DESI that Jdvans is a dangerous ideologue? I do, okay, but you still support him because he has a beard.
Look, I can't turn my back on my people. Ronnie, you don't know what it's like. You're an asshole. You always get to vote for someone who represents you. Look, we can't miss the opportunity to see a bearded man in office. We're tired of living in the five o'clock shadows. We'll finally have a straight talker who won't count out to the clap trap from the pat Kats. Philterroco straight talker.
Beards hide things, black heads, white heads, lack of chin, too much chin. And he's open about all of his horrific policies. So if that beard is hiding something, it must be really bad.
Oh, this is ridiculous. Beards do not hide anything.
Really, not even a sharpie dick that never fully washed off.
I told you that in competence, and that is rich stuff coming from someone who wears a shirt at the pool to hide a lower back tattooed of nor Daria.
I told you that incompetence.
Guys, guys, listen, we have to lower the temperature here.
Shut up, Ronnie, you can't even grow a beard. Look, let me put this in perspective. If I may quote Martin Luther King.
No, there's no, don't do that.
Fair enough, fair enough, fair enough. But as Abraham Lincoln once said, the government of the people, by the people, for the people shall not perish from the earth.
What does that have to do with beards?
Lincoln had a beard, the hair that unites the north of the south of the face. That's where he got the idea from. And if a beard made Lincoln one of this country's finest leaders, who knows, maybe a beard will make jd Vance not as terrible as I'm pretty sure he will be.
Okay, let's hope. So Jordan Kleppen does he lie like everybody is?
And welcome back.
God goal Away will be joining on the show, so no go away. Welcome back to the Daily Show.
My guest Tonights a YU professor, entrepreneur, and best selling author whose book is called The Algebra of Wealth, A Simple Formula Level Financial Security. Please welcome Scott Galloway. Thanks for joining me.
Professor, thanks for having me.
Algebra Wealth? What is the algebra wealth?
So it's a retrospective and all the mistakes.
I mean, what is the what is that? How do you make money?
Yet?
Now I wanted to insert me into the story, right, So it's okay. So the algebra the first is focus. Try and find your talent, not your passion. Anyone who tells you to pursue your passion is already rich. Find something you're good at in an industry that has an employment rate above ninety percent. Side hustles mean your main hustle isn't work and go all in on something. Then you want to talk about stoicism. Control the things you can't control you can control.
Hey, this is that complicate?
How do I?
Why?
How are we doing so far?
Why are people poor? And who should we blame?
That is?
Whose fault is it that everyone is poor? Is it baby boomers? Is it foreigners? Is it bitcoin? Is it the government? Whose fault? Is it?
Yes?
That we are poor?
Well, I think that every essentially every fiscal policy in America of the last twenty or thirty years has been nothing but an elegant transfer of wealth from the young to the old. We transfer one and a half trillion dollars from young people to the wealthiest generation and history seniors.
You can say it, Boomas, you can say.
The two biggest tax deductions capital gains and mortgage interests. Who owns homes and stocks? People my age? Who makes their money from earnings? And rent people their age. So I think everything we do is nothing but an elegant transfer of wealth from young to old. People call them entitled. I think they're actually entitled to be enraged.
This is okay.
I love how.
I love how you.
I love how you. You came in here. You're like, yeah, it's my fault that I'm rich and your pool you you can't do anything about it. But what can people do about it? I mean football, I mean kudos to you. Know, you're the first boomer I've heard in the last decade to give young people some props, you know, to be like, hey, it's not because all I've heard for the last decade is boomers yelling at millennials of being lazy and eating avocado. So like a refreshing voice.
Here, Look, the average seven year old is seventy two percent wealthy than they were forty years ago. The average person under the age of forty is twenty four percent less wealthy. The child Tax Credit gets stripped out of the Infrastructure Act forty billion dollars, but one hundred and twenty billion dollar increase annual increase in cost living Adjustment for seniors flies right through.
Okay, anytime I want to say boomers, I'll just link to this part of the one hundred or just what this guy said. So, I mean, I'd love to continue making the case against bomas, but I also like to figure out, like, so, what can we do about what can we do about it?
What can he There's a variety of things. One, lower taxes on put more money in. That put more money in the pockets of young people. Education's kind up poor fold. That was pretty populous. Housing's gone up four x. Education's gone up two x. Meanwhile, minimum wage, if it had just kept productivity up with productivia in plation, we'd be in twenty three bucks an hour, but it's seven twenty five.
We need a series of policies that make it easier for people to get ahead of Sixty percent of people aged thirty to thirty four used to have kids, Now it's twenty seven percent. They're literally opting out of America. They look up, they look down, they see prosperity everywhere. In two hundred and ten times a day they get a notification of someone vomiting their faux wealth in their face.
It's no act incident that that we have. We are raising a generation of the most obese, anxious, depressed, suicidal generation and history.
So wait, you were doing so well there with praising the young people and you took a hot turn. I just wasn't ready for I'm sorry. We are we good or not? I was all fault or not? But okay, But like, besides being civically engaged and caring about the world, what can a young person do to make money?
Well, again, I think it's I think it's.
Nobody got that one. But because what you're describing is policies, right, and I think a lot of young people feel disenfranchised voting and so agency.
Everyone needs to have a sense of agency. You do have agency. One, recognize how fast time is going to go. If between the ages of twenty and thirty, if you just save three to six percent of your salary, you're going to end up wealthy by the time you're my age. Recognize the time is going to go faster then you think. Diversify and also recognize recognize that your twenties is about workshopping.
Don't be so hard on yourself, but also recognize you're going to live a lot longer than you think, and so just try to develop a savings muscle. And put a little bit of money away in case you don't go double platinum or sell a business. Most of us, because our species hasn't lived past thirty five or ninety nine percent of our time on this planet, we have trouble believing that you're going to be my age. That's why we're so horrified when we look in the mirror
past thirty five. We're just not used to saying.
I'm kind of horrified looking from me right now.
Yeah, you just made my wife your best friend. This is essentially start early and so you can save, You can control, control your spending, spend less than you make, develop a savings muscle, and then really lean into your strengths and try and become great at something and pick a non vanity industry that has greater than the ninety plus percent employment rate.
Okay, so your advice, young people is that the boomers are screwing you over. Try to vote people in who can hopefully reverse that a little bit.
Elected officials are a cross between the Golden Girls and the walking dead. The average age.
But that is true, that is true. But and I'm asking you as supposed to have more experience than me and much more well read on this. Do you feel like this is kind of like the last death grasp of the Boomahs trying to hold on and if we just can wait them out in the five years, we can regain control and balance things out.
Hopefully.
I think that's hopeful. But the average age is now the oldest elected populace of any democratic institution. What happens in a democracy if you're not forward leaning like our ancestors and investmental class, old people have figured out they
can vote themselves more money. Does a person speaker of the House when she had her first child Castro had declared just declared martial law and Cuba two thirds of houses did not have a TV does she really understand the challenges facing a twenty five year old single mother or a twenty two year old male who has a lack of economic romantic prospects. The average age of Americans is thirty five. We need a representative democracy, We need
more young people. They will vote for money and make forward leaning investments.
Man, you just said they done when his boomers just won't die. They just won't die, keep holding on making decisions. They're like entrenched in decision making positions. They are alluding the capital games, tax on network essentially compounds. Yes, so you got it.
There's an incumbency rate of ninety five percent, or between ninety two and ninety five percent. In addition, because of gerrymandering, we essentially send to Washington hard right crazies and hard left crazies who have one thing in common, and that is they're really old, and they keep voting themselves more money. If we don't start investing in the future, democracy is literally going to collapse on itself when we get to these levels of income inequality. They owe its self correct
through war, famine, revolution. We need to do something about this.
Okay, so we'll be fine. Is what you're saying. Is that's right. So the solution is find people who speak this language and volte them in. Right, that sounds like what.
We absolutely need, a younger electric but we also need physical policies that do what our previous generations. You to invest invest in the future, an investment in the middle class technologies.
But as someone who speaks I'm sorry to cut you off by someone someone who speaks Boomer. Yeah, when you talk to your fellow boomers and you tell them like you're kind of taking away the things that you benefit it from, right, can we put them back in? How do you convince these old people to do that?
What I mean like the cater progress or those Fdr Teddy Roosevelt is having a series of class traders if you don't make these forward leaning investments. The reality is people, you have your world work, you have your old friends, you have your old the kids. When something comes off the track with one of your kids, the whole world shrinks to that kid. So the question is are we willing to make the same sort of forward leaning investments
that your father and our grandparents made in America? Moving forward?
We have lost that sense of comedy of man. One solution that I think will help us get back to that is that I think we need mandatory national service that we can develop more connective tissue and young Americans can meet people from other ethnic groups, other sexual orientation and realize that they can build something great in the agency of others and not see each other as Republicans, not see each other as Democrats or trans or non trans, but see each other as Americans and start making these
forward leaning investments that have made them after.
Day well as a young person, Thank you for thank you. Try to look after the next generation. I appreciate that a more old people can be like you.
I appreciate that now Jabrob Wealth is available now Stout Galloway, Well a quick bring, I'll be right back after this. Hey, that's our show up with tonight. Tune in tomorrow. We will be live at eleven thirty pm.
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