How Bleak is the Future? We Are Not Doomed! | Yaron Brook Show

not spare me. It seems like on the flight back, I that's something. Anyway, it just hit me yesterday, got it? You know, you'd think you develop immunity for these things like I've I've had. I thought every vibus that existed this season, and no, I got another one. So it's still at the beginning. So you know, I get a scratchy, sore throat and then it becomes a congestion. So I expect congestion to be what happens the rest of the week. But I will do as many shows as I can

and drink my my hot tea while I'm speaking. All right, I thought today we take a break, well not really, but from all the horrible news and all the bad stuff happening, and the the the the the idiocy that basically is visit a doctor. You don't visit a doctor for cold. It's not what you do. So I thought

we take a break from the idiocy. All morning or afternoon, I've been watching the latest interview the Trump gave two I don't know what network it was, but it's all over the place where he basically says he's asked about due process and the constitution, following the Constitution, and his response to all of that is, yeah, I don't know. I don't know. I have good lawyers, they take care of this. I don't know. Am I supposed to follow

the Constitution? I don't know. Due process? Fifth, I don't know. And he says, you know, get used to only having two dollars instead of thirty. A good question to come back to President Trump would be, what about the kid who has two dollars now because they can't afford thirty and now goes to zero dollars? Is that acceptable? I

mean the whole thing anyway. Yeah, there's a ton of depressing stuff going on, and I see a lot of people out there and on the chat here and in the super chat periodically kind of in a sense giving up or accepting that this is the end. And if you're young, I'm not gonna have a job, and I'm not gonna have a life, and I'm not gonna have a house. I never for the house, never for this,

never for that. And overall, you know, America's finished, and America is going to be poor, and generally you know life is going to suck, and that the future is overwhelming, bleak, and so I want to talk about that. I mean, let's be clear, we're facing unbelievable problems, and there's going to be a real economic price to pay for what

is going on right now. But if your horizon is a little bit more than two, three, four years, if it's close to five to ten, then I just I just want, I just want to encourage everybody to calm down. And even in the short run, we're not looking at AMAgeddon. So that is the case I want to make today, and that's the case I will articulate. I encourage you to ask questions. There's a lot to ask about. There's a lot going on in the world, there's a lot

going on in people's lives. So ask me about anything, anything that is interesting to you or anything you'd like an answer for, and I'd be happy to try to answer your questions. That is the super chat. That's a way for you to value for value. You can also do stickers, which is another way. Sticker is a super chat without a question. It's another way to support the show,

support you on book show. So I mean, there is a lot going wrong right now, and I'm not going to list it because you all know it, and if you listen to your on book show, you know that. But let me say few things about the US economy. This economy is incredibly robust. It has a huge amount

of flexibility within it. And in spite of the fact that people generally don't seem to be very smart, particularly when it comes to abstract political concepts or philosophical concepts, the American businessman is incredibly productive, incredibly innovative, and incredibly flexible and forward looking. It is. You know, everything that's happening right now, as I've talked about in the past, is a direct attack on a businessmen. You know, we

are destroying their supply chains, disrupting their businesses. We're forcing them to work much longer hours, I guess, all in the name of bringing back a fifty's economy, much longer hours in order not to be more productive, in order not to increase economic output, in order not to enhance the economy or their economy or their companies, but just

to survive. And that is going to happen. And if you run a small to medium size or you are a senior executive in a large company, you are scrambling right now, and you're working much longer hours than we would like an offer goal of just getting around the regulations and controls that the government is imposing on you, because that's what these tariffs are, their regulations and controls, the taxes. But they have they have the impact of regulations and controls. So uh so that is all happening,

and that is true. But I have a huge amount of respect for those businessmen and I actually think that they will find solutions. Now. The solutions will be costly. The solutions will involve, you know, dramatic shifts and some pain and stagnation because these are again changes that are not targeted and over towards growth. These are changes that are targeted over in towards just keeping things the way

they are. So this is very much going to be, uh, you know, going to be We're looking at stagnation, but I don't think we'll look at collapse. And there are some things to give credit where credit is do. There are some things that the Trump administration I don't think Trump, but the Trump administration is doing. They will mitigate some

of this. We'll talk about that. So first realize there while some industries, some businesses small, m medium, signarticularly, are going to go bust in the next few months because they can't source the materials they need from anywhere other than China, many businesses will somehow survive. They will survive by shifting their supply chains, by finding new sources, by paying more, but they will survive. Some products that we're

used to buying easily and cheaply will disappear. But most of what we need, most of what we used to will continue to be available, if at higher prices. And what we're going to experience is a restructuring of the American economy to some extent, particularly in certain industries, in a direction of less efficiency, less productivity, less efficiency, less productivity.

Now most of the economic growth that we get today, most of the real productivity gains, most of the progress that we see comes from, you know, broadly speaking, the

tech sector. That sector has gotten a pass from Trump on many of the tariffs, So a lot of the electronics that tech sector needs in order to continue to build these products have been free of tariffs or a tariffs at a much lower rate, and therefore many of those jobs will be saved and the rest of the economy will have to adjust, will have to again reconfigure the supply chain. So we're going to see massive increases and importation for Vietnam from South America from other countries.

Prices will go up. The ten percent tariff, at least for now, can be avoided, but supply chains will readjust to the fact that we will not be buying stuff from China. In addition, you will see you know, stuff

coming in kind of illegally. You will see smuggling go up, particularly for those products that are essential, but again those involved prices going up now, smuggling will probably be relatively small, although I do see a profited opportunity here for the cartels, you know, why not smuggling some spare parts into your shipment a fentannyl across the US border. You've got the smuggling routes already figured out for the drugs and for so called illegal immigrants, and why not add some Chinese

products on top of that. But you know that's not going to be a major effective. But here's what I do will happen. I do expect Trump to change his mind. I do expect as we enter or the threat of a session gets more significant if the stock market has another tumble. You remember it had that big tumble after deliberation Day. It's recovered most of that. Most of that is being recovered. Most of that has come back because

the market expects Trump to change. The market expects Trump to cut some kind of deal that lowers lowest tasks on China. They expect him to cut some kind of deal with other countries. So at worse, the ten percent stays uh and the market doesn't believe the lutinx of the world than the vows of the world that there's a lot more still to come. The market seems to think that this is about it, and from now on it's only going to get better because Trump has learned

his less and they have taught it. Maybe they're right, Maybe he is going to learn his lesson. I think he's going to get a lot of backlash from this fewer dolls. Today he said the kids will have like, instead of two hundred and fifty pencils, five pencils or something. So it's not just dolls. It's just some pencils and maybe those little cause for boys. Now I shouldn't be sexist here, but so I think Trump is going to reduce tariffs. I think he's going to pretend to cut deals.

I wouldn't be surprised if in the next month we have frameworks for future deals. They're kind of empty of content, but at least give the market confidence that tabson are going up a more than ten percent and America will adjust. It is not about to fall off a cliff. Trump could push it off a cliff, but I don't think he wants to. I don't think of something he's a nihilist.

I mean, there's elements of nihilism in it. He likes to see everybody groveling before, he likes to see everybody frantic, but he doesn't like to see everybody angry with him. He doesn't like that particularly, not CEOs of big companies. So I think he will adjust and he'll still do damage. An economy will go a lot less than it could have, and a lot of wealth will be destroyed, but we won't fall off a cliff. Now if you add to that the fact and this is where the trumpet Doina

station is indeed doing good things. I mean, the story of it today, oh yesterday, that the EPA and the environment Mental Protection Agency basically shuttering whole departments. It's asking Congress for a lot less money. It's backing off dramatically from regulating US business and US production and US building.

Now this is huge. Now, while a lot of businessmen's energy and focus and effort is going to have to go to getting around the tariffs or finding substitutes to China, there's a chance they will be liberated from trying to get around the environmentalist tariffs, which is very hard to do because they've been around for a long time and they've been solidified. And in addition to that, they're going

to be other deregulations. Other departments will deregulate the there will be you know, other parts of the economy that become a little bit at the margin free which I think we all benefit from. I'll als to say, just from economic perspective, the Saudis are coming to our protection defense not so much if you're in the energy industry of Saudis are not helping you, But the rest of US. Saudi Arabia today, I think another Opique meeting where they're

announcing another increase in supply. So the Saudi's pumping oil out, they're happy to see it below sixty bucks a barrow, partially because they cost of production is very, very low, so they make money no matter what. They are basically preventing the US from engaging in a massive increase in production in the US because at under sixty dollars a barrow, it's just not economic for the United States engage in

a massive drill, baby drill. And they're keeping all prices low so that all of you can drive this summer and that oil, which is a fact in production for a lot of things, will be cheap and companies can sustain reasonable profit margins in spite of everything going on because oil prices that is a vital input, will be lower.

So again there's some offsetting factors in the world out there that make Trump's you know, uh, irrational economic decisions, less impactful and less destructive than they otherwise would be, then they otherwise would be. I wouldn't drive to Canada if I were you. Yeah, don't drive to Canada. First of all, the Canadians don't want you, and they won't be nice to you. Canadians are typically nice. They're not gonna be nice to you if you come from the US.

And second, you know, it's spending time in any more territory, I'm not sure they'd allow you back in you you might be accused of treeson or something. I'm kidding. So so we've you know, so there is, there is. It's not all bad news out there. I'll add to that that there now at least five or maybe six. And next week we're going to be interviewing Larry Salzman, who is a party to one of these lawsuits. So at least five or six lawsuits with regard to the tariffs.

So there are a lot of organizations, a lot of entities that believe that they have a good case to put in front of the Supreme Courts to basically void the basis on which Trump declared these tariffs, and that would basically void the tariffs, and he would have to either go to Congress or be much more selective in his tariffs. And in order to make the case that there's a national security issue, he can't just use this law that he's using that doesn't mention tariffs to have

these global tariffs on every country in the world. So there's a chance that this part of Trump's agenda. Indeed, there's a chance that much of Trump's agenda is going to be blocked in the courts. And this is where, you know, I'm still positive about the Supreme Court. I still think they care about the Constitution. I don't think they're in Trump's pocket, and I think that they will want to reign in at least to some extent, not completely, but reign in at least to some extent. You know,

some of Trump's abuses. And now this I think is true culturally as well. So this is true of other topics we've already seen at a federal court Trump appointee declare the Use of the Alien's Enemies Act as unconstitutional and and band it from use. This is going to go to Supreme Court. There's a chance that the use of this Act, so the incarceration of illegal immigrants in jails and Olsalvado will be ruled on constitutional and that

will stop. So I think the courts are going to step in here at least slow down, if not completely, stop this administration from pursuing the path that they're on. You also have to think about these things a little longer term. What Trump is doing is gonna have negative consequences. It's gonna have negative consequences among others in the communities

that he's supposedly trying to help. Right now, people are losing their jobs in manufacturing, in the manufacturing sector because companies can't build stuff because they can't get the parts, or companies are so uncertain about the future that they're shrinking in order to wait and see what happens. And it is quite possible that his economic agenda becomes incredibly

unpopular in America. It already is. He already has the lowest favorability ratings in the polls of any press resident, including himself in his first term, to any modern president. So right now Trump is less popular than Biden was. He's less popular than he was because of all this nonsense. American people don't buy it, and as it starts sinking, in that the President of the United States is telling you you can't have as many dolls, as many cars, as many or as many you know, anything that you

want that you would like. The government is basically that's all going to shrink. I think Americans are going to rebel against that. They don't like to be told how many dolls they can buy. Economic nationalism, there's a limit central planning, there's a limit. I've always said America would not become socialist, and there's way too much of what the Trump administration is trying to do or the way they're expressing themselves with smacks of socialism. So there's going

to be a real backlash. And there's a real chance that in twenty twenty six and in twenty twenty six will likely to be really suffering from all these crazy economic policies. Then in twenty twenty six, the Americans vote overwhelmingly for Democrats. And not that I'm a fan of the Democratic Party, but I am a fan of divided government. I'm a fan of you know, stellmate, of not getting anything done in Washington, DC. And I'm suddenly a fan of sending a message to Republicans the people are none

of this site, so good luck. I've always been a fan of good luck. Good Luck is good. The best combination of good luck is a democratic president of Republican House and Senate. I told you that before this election, the House and Senate were pretty sure to stay Republican. We just got the presidency won't. So there's a good chance the JD Events will not be president in four years. There's a good chance the Republicans lose the presidency in

four years. That or if there is a Republican president, that there's somebody more seen, less nationalists, less MAGA, because MAGA will be discredited. Now maybe because Mega dominates Republican politics, maybe they'll still be the nominee. But then they'll lose. Then they'll lose, and some of the better things that are happening right now, for example, the shrinking of the EPA, it will be very difficult for Democrats to ramp that back up. I think about it. You know, a lot

of these people, generally the people fired from government. That's all good that they're firing people from government, because at the end of the day, it doesn't solve our budgetary problem. But in the long run, it's going to be hard to hire them back. People will leave government and they'll find real jobs in the real sector, in that private sector, and they won't want to go back to a government job.

So there really is a chance, there really is a chance that you know, the shrinkage that is happening haphazardly today will actually be rationalized and actually in the long run represent a shrinkage in the number of employees in the government. And yes, some of that is bad in the sense that some of the stuff that the government is going to do anyway it's going to do, lives effectively. Maybe you know, others other places, they'll just have less people to harass us and to take our stuff and

to regulate us and control us. And yes, it does look like the ep eight is indeed shrinking. Now we'll see what happens in the budget when the budget process ends, but it does seem like the EPA is going to Congress and kind of asking for shrinkings and in the meantime firing people, so that Congress faces in a sense coming to kind of some kind of fad or complete some From an economic and political perspective, I don't think

all is lost. We adomed we're going into spiral and we're going to lose all our savings and we're going to face a eight. We're not going into great depression. You know, part of the reason we're not going to great depression is that, you know, the Great Depression was the loge extent caused by Federal Reserve that didn't know what it was doing. Fed Reserve there was young that had no experience, that know what was happening. Now, I

think generally the Federalserve doesn't know what it's doing. But there's a scope, right, the Federal Reserve is unlikely to make the kind of mistake that leads to a great depression. It's more likely to cause inflation, it's more likely to cause stagflation, but it's unlikely to cause a great depression. And a great depression of the thirties was very much a monetary phenomena, very much a phenomena of just unbelievable restricting of credit and money and distorting our prices and

a collapse, a collapse of the banking system. We just we're just more sophisticated today and and and more equipped and more flexible to deal with a situation like the Great Depression, not in a healthy way, right, or we're giving up is we're giving up economic growth. What we got is I mean we are we have an economy geared towards stagnation, gear towards low growth. That's what kind of those are the kind of institutions we have established

in America and now really in the global economy. Uh, capitalism is geared towards high and by the way, it's very flexible and can deal with crises in a private context.

What we had in the nineteen twenties and thirties is an economy that still thought it was free capitalist, but it had given a massive amount of power to a new entity with no knowledge, no experience, fed a reserve, and it made, you know, massive mistakes both in the twenties and the thirties that were incredibly destructive, and the economy did not have the means to deal with them.

I don't think that happens again. So not heading towards a great depression, We're more likely heading towards ongoing stagnation. And the risk is that we are heading towards more authoritarianism down the road. Trump will not be it. He is not smart enough, He is not ideological enough. Trump has no ideology. He hates trade. That's about it. That's the only thing. And he hates him. But I don't even know he hates immigrants because half the time I

think he just he's appeasing pressure groups. The anti immigration pressure group is very, very strong in the Republican Party in America. Generally, he's appeasing them. The only thing he really I think he really believes in is he hates what do you call it. He hates inputs. He hates trade deficits. That's the only thing he really there's me consistent about hating. Does he care about regulation. No. That's why deregulation is happening, not because of Trump. Trump's not

pushing it. Trump's not hecoveraging it. He doesn't talk about any interviews, he doesn't give speeches about it. It's happening because he appointed some good people, some good people. Most of the people not good, but a few good people in departments weren't matters like the e PA, like the Energy Department, like Interia, maybe a few others. You know.

That's where they that's where the deregulation is happening now because of Trump, but because the people they appointed, like in the first term, the best stuff happened in the places where Trump wasn't paying attention. He let his people do the thing. Now that's where the best stuff happened. It's just the fewer good people and there's a lot, oh god, a lot of really really bad people. So that is so I think an economic fund, you know, the auto industry, they're going to figure this out. They

have the resources, they've got the brain power. They're going to find ways to figure out how not to collapse. And if not, if they can't completely figure it out, they will go lobby Trump and he will give them some favor. He will give them a loophole. The you know, I think the real danger here is for the medium of small businesses, who will will try to figure it out. We'll scramble, we'll try to innovate, but for many of them, they just won't find it. I do not Let's just

be clear, just in case there's any misunderstanding. I do not support the Federals of I think it should be abolished and it should be replaced by private banking, not by the Treasury, but by real private banking. What I said was in the Federals of in the nineteen twenties and thirties was much worse than the Federals of is today. It's just has more experience. It's still bad. It still should be shut down. It's still be a limit. Everybody

there should be fired. So just as it is no because somebody here is spending lies, as people will do, they'll probably cut out a clip of me sounding like I'm pro federals of and send it to you know, all around God how anybody could think I was pro federals of is both aligns on dishonesty to even argue that no federalism should be dismantled. It's just less dangerous, less destructive than it was in the nineteen thirties because

they've learned something. They've learned from their mistakes, and they learned from the mistakes in the seventies. So the likely we have really high inflation, you know, to the extent that to the extent that the Federals of has say, impacts it is less likely, all right, So I want to calm everybody down. I guess from the perspective of the economy, it's gonna be. It could get bad. There's probably going to be a recession. I don't know what

the odds are. They're probably a little greater than fifty percent. It's probably going to be a recession, but it's not going to be depression, and it's not going to be you know, we're not falling off a cliff, falling off a cliff. But there's there's a point beyond this that I want to remind you all. I do this periodically, and it's good to do it periodically, and that is that your life is not the economy. Your life is not an American phone possy. I mean, let's just say something

about American phone policy quickly. I mean, even there, Trump is awful and terrible, and he's flooded with being pro Putzin and anti Zelenski, and yet puts In is so thuggish and so bad that he is now pissed off Trump. And it seems like found posse visa. The Ukraine is going to be much better. Israel seems like at least not with you know, maybe I don't know. Every day I read about new explosions in Iran, like the port went out, and our pop plants are being exploded and

different factories going up in smoke. I don't know if that's Israel, but there's a significant positive probability. It is ISOs not just sitting on his hands while the Trump administration negotiates a deal with Iran. It is doing stuff. I have no inside information about what it's doing and how effective it is, but it's doing stuff. The United

States is incompetence. So the UTI's just you know, a missile, and the hutis just landed in Israel right next to the airport, so planes, you know, the airport was shut down for a little bit and a lot of phone fun airlines are stopping flying into Israel. But you know, Israel's going to get into that fight, and you know it'll cause the Huti's more damage in a day that

the United States has probably in three weeks. You know, the other day, Israel did an extensive series of bombings in Syria, uh, basically to tell the Syrian regime to lay off the Jews population. So Israel's taking things in its own hands. It's just calling up reserves, its reservists now in order to expand its encosion into Gaza. I mean, it's a whole long story we'll get into one of these days, but so far on that, on those fonts, you know, I'd say phone policy has not done. It's undamaged.

But again, like the economy, it's not damage that causes us to fall off a cliff, mainly because, as Luke says, evil is so incompetent that even our incompetence doesn't you know, it doesn't cause things to get as bad as I mean. The biggest WAI is at the end of the day, that Trump's incompetence leads to war with China. That is the biggest threat I think we face right now. That's the one thing we need to really watch. And I'm really worried about that. I wasn't worried about that in

the past. I didn't think China was going to do anything. But I do worry that Trump's attitude and incompetence will lead to that. We will see. But I still think that Chinese are afraid because I don't think they I don't think they think they can win if they invade Taiwan. So even if I'm policy well, things are bad, will survive, We will survive, The Ukrainians will survive. I mean it could shift. I mean Trump tomorrow could again become Putin's

best friend, so anything could change. But you know, I think so far, the West is surviving, and certain certain things that Trump has done that are really really bad are going to have positive outcomes. I think the best thing to come out of his feign policy is a resurgent Europe focused on its own self defense, focused on the need to grow economically, which might lead to some deregulations and to some economic growth in Europe. We'll see.

Maybe I'm being overly optimistic about Europe, but suddenly a greater investment in defense is going to be a positive thing. And an independent Europe that can that can stand up to the Russians free of shackles placed on them by verous American administrations is a good thing, not a bad thing. So there's another positive that might come from all of this. Uh,

trying to think anything else, anything else we want to cover? Yeah, I mean this is where I'm going to pivot away from Trump to remind you that only a portion of your life is dictated by the politics in Washington, DC. Yes, a recession could really hurt you, and you should be thinking about it, and you should be planning for it, and you should be thinking about what to do if you lose your job, what to do if I don't know, you don't get the bonus this year. What to do

if prices go up. You should be thinking about your budget, how much you spend, maybe thinking about curtailing it a little bit. I mean again, depending on your circumstances. Maybe not if you're if you're in in tech and a good job and the industry she used to be going, if you're an AI and so on. So plan your life is that end of the day, you know you have the tools. We live in an amazing world. We

live in a relatively wealthy world. We're all relatively wealthy in spite of all the negativity and that is out there. We're pretty rich now, not all of us. And therefore you have to plan. You have to think about your particular circumstances and think it through. I also think we're about experience a real revolution. I mean, it strikes me as amazing. All these all these idiots, I think I still call them idiots, idiots who are calling to reindustrialize

in the United States. And you see what AI is capable of, and you see what these robots have just been watching videos of robots, and I mean, these robots are amazing. They can they can do martial arts. They have real dexterity, they have real capabilities now humanoid capabilities. Now I don't know if that's particularly useful for production, but if they can now get robots to do the kind of sophisticated movements that human beings can do and

they're really cool, then forget about industrial jobs. Those are all going to be taken by robots, and that is going to boost productivity dramatically and can involve a real dramatic shift in the kind of jobs that make sense. And again that's true of that's also true of AI. So AI and robots are going to change the world, maybe within the next two to three to five years, maybe it's ten years, but they're going to change the world. And unless Trump bans them, which I guess is possible

but very unlikely, he has no control over that. He has no control over that. So, you know, the the focus should be, given that that's going to happen, how do you take advantage of it? How do you position yourself to benefit from a world that's going to be changing in the next ten to twenty years. The world will change in big, dramatic ways, and obsessing about doing gloom will not help you make that adjustment will not make you help. You reoient towards where the opportunities are.

And again, a lot of people's jobs are going to be destroyed, a lot of people's lives are going to be destroyed. There's a lot of bad that's going to happen that doesn't have to be you. The more prepared you are, the more thoughtful you are, the more you plan and think and consider, the better off you're gonna be, and the more you're gonna be able to thrive. No matter what you know, Trump throws at you. Again, Trump

is not he's not a socialist. He's not a fascist in the sense that he doesn't have a driving ideology and those who do. I don't think the Americans will embrace it, not as a whole. I think they're going to lose. And yes, we constantly inch towards authoritarianism. Yes, at some point we won't be able to stop it. We're not there yet. This administration is not gonna be it now. I hope this is one prediction I'm right about.

It could be the one I'm wrong about is no, you know, Vance overthrows Trump and becomes dictative of America. I don't think that's happening even in America today. I don't think we'd allow that to happen. And I'm encouraged by how many people are critical of Trump, how many people have woken up, people who voted for Trump and are now super critical and have come to realize much more the extent to which MAGA as a movement is thoroughly corrupt. I think Richard Hanania is a good example

of this. He was critical of Trump before, but he said, like many people, look, at least Trump will sustain the market economy. He's really bad and MAGA stupid is really bad, but he's better than Kamala. And now he's like I was wrong, I was wrong. I should have never voted for him. He's really really, really instructive and really really bad. I mean, the more people wake up to that, the less chance you have that the Republicans can sustain power

enough to become a sorbitarian. So that is my positive outlook. But again I'll end with this reminder. So much of your life is under your control. So much of your life does not depend on anything Trump or anybody else does. Your life is also and your control in a sense of how much attention, how much energy, how much focus

you put on what's going on politically? Do you really need to Does it really enhance your life to be in Twitter NonStop, or to be watching the news, or to be in Fox, or to listen to bit Sha

Puer every day for hours. Not that I'm against listening to Benhaview here's one of the you know, moderately better ones, but generally, how important is politics to your life to the day to day stuff, to how well you're doing it work, how productive you are, how much thinking you put into it, how ambitious you choose to be, how relevant is what is happening in Washington to the way you spend your time. Are you putting the kind of

energy and effort into production, into being productive? Are you putting enough energy and effort into making your life the best that it can be? Are you devoting real thinking into how to improve your life given the political situation? To finding a romantic partner if you don't have one. I know a lot of you, a lot of the people listening to my show A Man. According to you

Tube it's above ninety percent. I don't know if that's true, but according to YouTube, it's well of a ninety percent, Right, my men, How much energy focus that you're putting into finding your romantic partner, into dating? How much energy are any of you putting into what I've talked about often right? Making the world the part of the world that you control, your home, your office, your environment beautiful, a one that makes you put a smile on you when you walk

into your home. How many of your focus on improving your skills so you know, learning how AI works? Now, this is one I'm guilty of, right, I should be spending huge amounts of time right now, feel on figuring AI out and on catching up on all the reviews, including Ali's book review, on the reviews that I owe you guys. So I need to catch up and I will, but particularly AI, I need improve my skills in AI.

I'm going to be, you know, overtaken if I don't, and I think this summer that is my number one project. Once I get clear all the other stuff that I'm committed to doing, that is what I'm going to focus on. Luke says, did you want to figure out theon AI bought? Supposely it's still happening, right. I signed a contract with this company that's working on it. They we did the video session where they could they filmed some video of me so they can use the video and move my

lips to say the things that they are. So I don't know where it is yet, you know. I hopefully this company survives. Hopefully they put it out at some point. Hopefully it will books. I haven't really been following it, but it's part of me not paying enough attention to AI. I should be paying a lot more attention to it, you know, are you? You know there are all these memes out there right now about oh went the fifties great?

Where parents spend a lot of time with their children and their families, with families, and you can recreate that. How much time are you spending with your children? And by the way, I think parents spend maybe too much time with their children these days. You don't want to be a helicopter parent that is involved in every aspect here your child's life. One of the most important things to do in raising children is to let them be

encourage independence. But if you want to have that fifties lifestyle, you can do it. So how much time are you spending with the people you love, with your friends, with your children, with with your family, with people you careful and care about. How much energy, focus, thinking time are you spending on making your life the best life that it can be. In other words, rather than worrying and obsessing and about the latest thing in the news, about

the latest phenomenon. I told you, listen to your on book show for highlights of the news. Get depressed for an how and a half two hours, three hours, but feet off of my energy and drop it as soon as the show is over. Focus your life on you, on your life. We live here for a finite period of time. We have control over a finite part of our lives, no control of what happens in Washington for the most part. So stop obsessing about that. Obsess about

your life, Obsess about how to be happy. Obsess about the things that you'll control. Your job, your family, your environment, place in which you live, that's where, that's where you should be devoting your energies too. So it's easy to be depressed right now. I'm tempted, but I'm too busy. There's too much to do, there's too many things to think about, to learn about too, there's too much work to be done, There's too many there's too many improvements

I still want to make in my own life. Two spend obsessed by the nonsense moron like Donald Trump is engaged in. I guess today's not a new show, so I can call them a more on anyway. So I return to my theme of Yuan's Rules for life, and those of you not familiar with EON's Rules for life check them out there. And there is a whole playlist online of my rules for life. I think they're about twenty twenty shows that I dedicated to that and that is live your life and now sudden d Yes, there's

a lot of uncertainty out there. Okay, deal with it and certainly should not cause you to crumble and suddainly is part of living. And again, figure out what you can control. Figure out what you can do, even if you're in business right now and you don't know what it's going to be, like, well, what can I control? How can I diversifind my supply Chaine from China? How can I find new supplies? How can I shift my production? So I get affected less by the craziness and watching

in DC. It's hard work, it's not easy, and in some cases figure out how do I shut this down, maybe permanently, maybe for a while, but how do I continue to survive in spite of that? All goes to the quarry in the fountain Head. He faces a lot of uncertainty. He has no idea if he's ever going to be an architect. Again, I mean, I think he's pretty confident he is going to be. He is going to design buildings, but he has no idea when it's going to come from, where it's going to come from,

how it's going to come. And he manages to thrive in spite of that. And that's your challenge. Your challenge is to thrive in spite of what the irrational you know, the irrational morons in Washington, d C. Do see I said moron twice and the number of people watching live

goes down? All right, I don't think that's correlated. I think I got into the stuff about making your life, making your environment beautiful, and living your life for yourself, focusing on that, and it's too positive for people, way too positive for people. What can you He would win? You should too, You should too, and again you will win. Doesn't mean America wins, doesn't mean the economy wins, doesn't

mean that you know, I don't know. Whatever wins, it means you win and most of what your life is is under your control. Again, we're not we're not throwing people in jail for being objectivists. We're not throwing people in jail for new wrong ideas. Yet, you can still express yourself. You can still you know, do what you want.

You can still change professions. I mean, if you heard Ludwig today, he was saying, well, we need American manufacturing jobs where the father and the son and the grandson all working the same job for life and for the same company for life. He wants to bring feudalism and the guilt system back. We don't have it back yet. We're not living under that yet. Ludwig can fantasize, of course, he doesn't want that for his children. He doesn't want that for himself. He has never been in a manufacturing

facility in his life. Probably, But let these idiots blather on and make the most of what you have, and yes there's a certainty. You take that into account and you keep living and you keep you know, that's what we have a rational faculty for. The rational faculty is there to make it possible to deal with uncertaintly. Now again, I'm not saying it's not hard. I'm not saying it's not challenging. I'm not saying there won't be negatives that happen.

I'm not saying you won't have setbacks. You will, and you will have a lot of setbacks and are unjust. Unjust the bastards somewhere else again inflict on you. You don't let that get you down, because life is too short to be down. Get you back in your knees. The injustice has happened. It sucks, it's horrible, and yet you need to still live, and you need to be able

to achieve whatever happiness you can. Focus everything on the positive, Focus everything on that, all right, Hopefully that helps out a little bit in terms of re orients some of you away from the overly pessimistic, overly narrowly political focus. Hopefully a little bit of inspiration for the weekend. A good Sunday summon is always good. Life's too short, guys, way too short, way way way way too short. All right, let's see what do we have. I want to remind

you a few things. You can ask questions, anything you want, anything you want. We've covered the first hour. That's phenomenal. Thank you guys. That's great. We're going to be into the second hour here soon. We're well into the second hour in terms of contributions, so in terms of superchats.

So but let's get to the number soon. I will go for as long as you ask questions, So keep them coming, particularly if you have twenty dollars or fifty dollars or big dollar questions that that is particularly particularly valuable right now. So particularly if you have those, bring them on. I want to thackt thank all the people did stickers. Really really appreciate that. It's a way to support the show without asking a question. I know not everybody has a question. Uh, so feel free to do

stickers for a deem. Katherine Uh, let's see Katherine, Katheryn Dawson, different Katherine Jonathan Honing. Thank you guys for the stickers and uh and keep it coming. Marra Ben's is Who's Who's fantastic. You know, I think she'll be an amazing employee. Is looking for a job. She is way too qualified for the jobs you guys might offer her, but she's smart and hard working, so I would offer her a job in a heartbeat. If I had one available. So if you do have anything available, talk to Mary Ben.

She is she is uh looking for something. She has abandoned her quest for a job in the sciences, sadly, tragically, horrifically. I will have answer your email movements. I apologize I haven't yet. I'm behind on everything, so just all right, let's see what do we want to do. I want to remind you of Alex Epstein as A. As A is a sponsor of the show. Alex Epstein dot substack dot com the best commentary you will find on all things related to energy, including what's going on in Trump

administration of guarding energy. Best stuff you will find our climate change, and on fossil fuels and and uh drilling, but but importantly on electricity. I'm waiting for Alex to come out with like the definitive explanation for what happened in Spain and Portugal. I think I have now an idea of what happened. I might talk about it tomorrow on the show. Oh. I also want to remind you I will be on. I think I haven't got the zoom link yet, but i'll probably get in the morning.

Hopefully I'll fill up to it, but I will be on Destiny Show tomorrow. If I'm not, it's because I'm I'm too sick. But I will be shown up on Destiny Show tomorrow from I think ten thirty am. So if you have access to it, join us and ask questions. And the iran in students a sponsor and they they still have available scholarships for ocon I think only a couple of days left. Maybe tomorrow at midnight is the deadline.

So if you want to apply for scholarship for attending ocon ocon July first through fifth in Boston, phenomenal confidence fun. It's going to be interesting and fun. There can be a lot of talks, a lot of socializing, poker and yeah, so join us, join us at OCONN and if you can't afford it, apply for scholarship. They're available at iinran dot org slash start here Destiny the streamer, Yes, the streamer,

so hopefully you have act to his stream. All right, let's jump in rational Ip with sixty euro Thank you, rational Ip. Some argue the consumer protection laws essential to balance the power asymmetry between consumers and business, especially in the context of standard form contracts. What is your view in this well, I'm obviously against it. I'm against any kind of government regulations of business that is not related to a real objective objective they identifiable risk to This

idea that there's a power asymmetry is completely nonsense. You could argue that the consumer has more power than the producer. They can stop buying the goods, The consumer can choose the competitor. The consumer can just stay at home. So this idea that producers have more power than consumer, it's just nonsense. It's not unsure power. The producers offering a product and the consumer can choose to buy it or not.

Now there is a you could argue there's an asymmetrical information because the producer has a lot more information about the quality of the product, its usability, the risks involved than the consumer. Now, there are number of ways in this which this can be solved. The consumer can demand that the producer reveal that information, disclose that information before

they buy, and otherwise they won't buy. So the consumer can say, you know, I'm not buying this box and cereal until you list how many grams of sugar are in it. I'm just gonna I'm gonna buy something else. I'm just not gonna buy cereal anymore. And you know that's one way to get the producer to provide the information and the consumer wants that is not being made

available and the consumer cannot find easily by themselves. That's one solution that the consumer not consumer, so they get what they want, and the consumers can band together to do that. They can do all kinds of campaigns to do that, lots of means by which they can do it. The other is that third parties enter the field. Third parties whose whole profit business model is to provide information.

Think consumer reports on steroids. You're wired about the toy not being safe, Well, don't buy the toy unless it has a consumer Consumer Reports seal of a approval on it. Just don't buy things that don't have that seal of approval. Or you go to a website and find out exactly how much sugar that cereal has even if they don't list it. So no, there is no there is no

need for consumer protection laws. Indeed, what I think consume protection laws do is they turn consumers into they turn consumers lazy, that is, they disincentivize consumers from actually engaging the kind of activity that is in their own self interest because they assume consumers assume that the consumer protection laws protect them, and therefore they don't engage in the kind of activity that would protect themselves and there is and what the consume protection laws us to do is

they create a disincentive for third parties waiting entities, review entities from engaging in the process in actual review. So I'll give you an example. Imagine if food Inspector stopped inspecting restaurants, but we want a restaurant to be hygienic and clean. Imagine if Yelp as a business chose to do it themselves, and they would go to restaurants and say, look, we'll inspect and we'll give you a rating, and if

you don't want us to, that's fine. We'll just let out reviewers know the people who use a service that you didn't let us inspect. Imagine, as part of yelp the services Yelp provide, they also provided a rating on how clean the kitchen was and how sanitary or whatever the behavior was. I think restaurants pay a lot more attention, would pay a lot more attention to Yelp ratings than they would to to Food inspect Us from the FDA.

Imagine if I mean, if just you know, help people who do Yelp reviews went into the kitchen and said, Hey, I'm writing a view. I'd like to I'd like to asso look at the kitchen. I mean a lot. There's so many ways in which proactively existing businesses and existing consumers can fill in whatever gaps exist to make it clear that we just don't need consumer protection laws and never have needed them, never have needed them. So no,

I definitely don't think that. I think, if anything, consumer protection laws make it worse because they disincentivize both consumers to pay attention and alternatives like private alternatives, which would be better than government alternatives to arise. Thank you rational Ip Mike, thank you for the sticker. Really appreciate that. Okay, Molten Splendor has a fifty dollars question, Thank you Molten.

I don't understand why Starcel over Is, have You and Malay are considered bad by objectives standards because they referred to themselves as libertarians. I don't hear them advocating anarchism, which is the biggest pushback on libertarianism right. I don't think anybody considers star Cel aver As and malay Bad. I think they we consider it the fact that they call themselves libertarians, and I don't think Alvers does, because

I think Alvers understands this. By calling themselves libertarians they are in a sense they're not. In a sense they are They're sanctioning and enabling the worst elements within the so called libertarian movement. They are sanctioning and enabling the anarchists,

even though they are not anarchists. So by not qualifying the use of the word libertarian and embracing the libertarian big tent, which doesn't just include the libertarians, but which is populated by many, many libertarians, and many of them in leadership intellectual particularly intellectual leadership positions, they are linking liberty, freedom,

free markets, capitalism with anarchy. So they need to be able to differentiate themselves from the anarchists, either by using a different term or by making it very very clear that they are not anarchist. I have you Amlay is an anarchist. He claims he is. He advocates for it. That's the one, I mean, the probably two or three things I really dislike about me Lay, that's one of them. Starso is non anarchist and Gloria Alvarez is non anarchist.

But I think Gloria is also very good and not self identifying as a libertarian because she realizes that when she does, she is sanctioning and embracing consciously or not embracing the anarchists, So she distances herself from it. And I think that's what they should all do. Stop using the word libertarian. Call yourself a free marketer, call yourself a classical liberal. Now that doesn't mean you know, you shun people. It means you don't self identify as the

same as them. So you know, I've had at least one person on the show who's an anarchist. We didn't discuss that, but I don't consider myself in the same team as him, even though on the issues we discussed, we agree we're not on the same team because of his anarchy, and indeed I have debated him on anarchy. So my view is very very clear. So thanks Walton's splendor. Hopefully that gives you a sense of why why Why why? Right Andrew on Cost states that Ezra Klein's new book

evades the difference between voluntary action and government force. Do people generally feel shame over initiating force. Does that factor into their willingness to evade force. I think at some level people understand the force is bad, they choose to present their views as not being forced out. Again, I don't think as recline, and I don't think let me rephrase that. I think a lot of people, while they know that force is bad, they also think it is

essential for achieving what you'd call the common good. So they think that it's. Yeah, it's not good to force people to do what they don't want, but sometimes it's necessary because alternative is worse. So we have to force them. If we didn't force them, they'd be poor. If we didn't force them, they commit suicide. If we didn't force them, they do hubbable things. So we have to engage in force in order to make their lives better, or in order to make them, you know, to make them moral ethical.

They won't do it by themselves, from their own initiative, so we have to force. And I think there's a lot of that. Sadly, there's the you know then, and I think a lot of that is is kind of embedded in an altruistic morality. Altruistic morality is not a morality that negates force. It's a morality that says forces used to achieve a good end I either well being of other people, then it's okay. It's our Christians justified slaughtering people in the name of Christianity or force or

forced conversion. And it's how altruists, our communists explained why it was okay to kill tens of millions of people. As Lenin said, to make an omint, you have to break some eggs in order to achieve the goal common good, the public interests, something something, something collectivistic. We need a use force. And that's how they rationalized it and justified. But one of the reasons they rationalized and justified is because there is a general understanding among human being that

in general, force is not good. Adam I kept track and in La County and cities with high East Asian percentage cultures where masks are customary for travel or if one has a sniffle had half the COVID cases relative

to the whole country. Considering a mask for travel, I think what a mask helps is not so much in preventing you from getting sick, because that can be from touching things, it can be from you know, the lots of ways in which you can get sick, but I think it helps primarily if you are sick, not infecting others. So I think the mask is primarily a tool to prevent infecting other people rather than as a tool to prevent infecting yourself, and the Asians are very good at that.

If the Asians have In Asian cultures, if you have the sniffles, you wear a mask, right, So you know, I don't know that wearing a mask will help, and there's a real inconvenience to it. So there's a question of would I rather get sick once in a while. I mean, if mask really helped, if they completely stopped it,

then yeah, it would be worth it. But some of what I tend to get is clearly not an airbone stuff, and I am skeptical about how useful a mask is, particularly if it's not a what N ninety five or whatever they're called, and then where them as a real hassle. It's a real hassle. But again I think the courtesy of wearing one if you feel bad, that would be something that would be well worth adopting. Right. There are also other reasons why the Asian population might have gotten

less COVID. You know, they were better at protecting the elderly. But look, I didn't get COVID. And this is the thing, and this is why I'm suspicious about my own immune system, because I didn't get COVID. For the first two years of COVID, I traveled throughout COVID. I went a restaurant. I didn't wear a mask much. I mean I wear a mask where I had to wear a mask. I didn't wear a mask much. Again, I traveled, I flew. I was going back and forth from California to Puerto Weeco.

I went to you know, as soon as the country has opened up, I flew to Israel. You know. I know that I traveled because I used to go and have to get a COVID test every time before I got on a plane, right, you had to get a COVID test. I remember getting COVID test in all over the country, like in Colorado and California and other places. I figured out which labs to use, and which labs a lot to use, what good is good and what it's not. I did all that and then never got COVID.

My wife got COVID. I spent ten days with her while she had COVID. Right, we didn't know she had COVID, never got infected, slept in the same bed, she didn't wear a mask, you know, in the house because she didn't know she had COVID. She only got NW she had COVID after the fact. So we still don't really understand how COVID transmitted and and all of that. So and a lot of it just has to do has to be with your own immune system. And that's why why we's me is not the travel I've traveled last

twenty five years, three years. It's why I'm getting as often sick as often as I am. Maybe I'm not sleeping as well, maybe in my immune system is weaka, uh, that would be not good. So I need to figure out what's going on with my immune system. So I stopped getting as sick as often as I am. Yeah, I tested all the time with COVID, so I probably didn't have it because I was testing constantly, right, Because every time I traveled, I had a test, and I

never had a positive test until two years later. Why I got it? Yeah, And I've been traveling, and I yeah, I would get sicked pretty much every season once or twice, but this is like the fifth time. I think it's getting ridiculous, all right, and I'm less positive than you right now, companies like mine holding off a new investment YEP, and that is not going away under Trump. And this is before trumpet places your own power with Navarro or Mirrion.

So that's right, that's why there's no economic growth. Really, we're gonna stagnate. On the other hand, in tech there will be growth. AI will resulting growth. Deregulation of the EPA will resulting growth in energy some sectors, and energy there will be growth. So you've got stagnation, You've got literally some companies going out of business, and then you've

got some areas where there will be growth. I mean, tech will growth, partially because they're gonna get the exclusion from tariffs and partially because AI is gonna make just everything more productive. Apple is not trimming its plans for new products going into the future. And there's a lot of money still flowing in Silicon Valley. There's a lot of InChI capital money still flowing. So yeah, I mean, this is not gonna be a robust economy. We're not

gonna grow. We could be in a recession. We could have slow economic growth, we could have negative economic growth. I just don't think we're heading to the Great Depression. I'm not trying to be Polyannio positive. I don't think this economy will grow. I just think it is not gonna collapse. It's not gonna fall off a cliff. And yeah, the tasks are gonna cost Apple, They're gonna cost everybody, and it's just a waste. It's just destructive destruction with

no upside. All of that is absolutely true. Get angry and then get over it because you got a life to live. Got a life to live, and a lot of people lose their jobs, and they're going to lose their jobs because of Trump, and then they're going to lose their jobs because of AI. And the people who lose their jobs because of AI won't be able to find new jobs because of Trump. All of that is true. All of that is going to happen. All of that sucks.

Get angry and move on. Protect your own life, figure out how to do the best that you can with what we have. Because Trump's not going away, and the bad policies for a while not going away. I think Trump is gonna cave he's got, you know things in that sense, it'll be better, be right thought coming out. Well, Trump cave into China wholesale. I think he will. He'll pretend he's won. He'll get some concessions from China. China will say, okay, we won't send FENTONYL to Mexico anymore.

We promise, and trumpull declared victory and do all kinds of other stuff. Look, I'm not making economic predictions because I don't know. What I'm saying is it's likely to be a recession. I think generally we're in for long term stagnation. I don't expect falling off a cliff. I don't expect great depression. I don't expect, you know, a financial crisis could happen. We'll see what triggers it. If

a lot of companies start going bankrupt. If we start seeing a financial crisis, even financial crisis, Sadly, our central government knows how to handle so it doesn't become a depression. Sadly, I say, because maybe we need a depression to wake ourselves up. We will limp along. We will limp along, which means stagnation, stagflation, you know, maybe negative growth or very very very low positive growth. That's my prediction. It's being my prediction for the last twenty years that we

will have slow growth. Now I think there's a possibility of negative growth, but it's not going to be negative five percent, Although there might be a quarter of negative five percent. I think over the long run it's close to zero, whether negative or positive. Michael, do you think Trump is feeling the pressure then many people in his own party are turning on him, many people in the business world who he wants to respect him of putting pressure on him to change course. Yes, I do think

he's feeling the pressure. Less so from the political side of it, because I don't think the politicians have the guts to tell him what they think. But I do think he feels it from businessmen coming to him saying, look, we're heading to a recession. We're gonna have to lay people off. What you're doing, you know? Might you know they're sucking up to him and pretending that there's some good in it, but they're basically telling him that this

is bad and he needed to change course. And I think that he feels you know, when Walmart and Target and Home Depot, I think came to him the CEOs, you know. I think that's when he did a pause on his so called reciprocal tarists, and I think you'll see more of that in the weeks to come, is more backtracking as he gets more feedback from the business

community about how damaging what he's doing is rational. Ip in today's emotional follower driven culture, what practical steps can we take to store reason, individualism and leadership and how can someone strategically contribute to that long term shift. Look, there's only really one way to do it, and that is I mean too ways if you will. One way is to speak up. Is not to hide your views.

It's the talk talk talk right right right. Use every venue available to you within your scope to speak up against what's going on and to present a rational alternative in whatever context you can. That's how cultures change. And at the same time, support the intellectuals who are who are who have bigger audiences, who can can you know, leverage their audiences to get your message out to more people. There's nothing else that can be done. Stay away from

politics right now. I don't think it's helpful right now. But embrace speaking, Embrace better intellectuals, Embrace whoever you find online you know, and then use whatever means you have social media to amplify amplify the message from the intellectuals you follow. So take somebody like like Phil Magnus that we had on the show on Thursday, somebody again who calls himself a libertarian related to the question before. But take Phil Magnus and he writes really really good stuff

on social media on trade and tariffs. Start actively sharing his stuff, liking and sharing it, and find some others who you support and actively share and like. And even if you think, oh, my audience already knows those stuff doesn't matter, every time you share, the algorithm pays attention to that and amplifies his reach. That's how you gain the algorithm. You game the algorithm by participating, by engaging what the algorithm cares about his engagement. So you know,

I encourage you to just engage. Don't stay on the sidelines, don't swook quite. You can't afford to be on the sidelines. You can't afford to say quiet. A country's being taken away from us actively by both political parties, and right now bigause threat is Trump. Okay, but you have to not present just an anti Trump position. You have to present a positive position, and you have to do it in your own realm, in your own world, and then amplify the message of those intellectuals who support the kind

of world you would want. I think those are the only two things you can do. For one who views himself as an individual, politics is important, but it doesn't define his essential view of the universe as auspicious to vout. For collectivists, everything is political, do you agree. Why is that? Well, because what is politics. Politics is how we how we

deal with other people when it comes to force. For collectivists who believes in force subjugating the individual to the collective, you know this matters because it's all about the collective, and it was about my collective versus their collective. It's all about my tribe versus their tribe. And that means constant politics. It means his life is not important, so he's not going to devote time to thinking figuring out

how to live the best life he can live. But instead he devotes time to how to manipulate the game so that he wins. His tribe wins and the other tribe losers. It's all win lose, and he's constantly gaged in political battles as a consequence. All right, Jennifer neil Put from the song Marathon. This is a quote from neil Put. You can do a lot in a lifetime. If you don't burn out too fast, you can make the most of the distance. First, you need endurance. First,

you've got to last. Yeah, I mean, yes, you've gotta build endurance. But to do that, you've gotta you've gotta really push, You've gotta really try. You've got to really focus your mind on your life, on living, on doing the best that you can to having the best life possible. Put has amazing lyrics, amazing lyrics. You can see that the strong influence of iron Man. I mean, life is not a marathon. It's not a marathon. It's because you

constantly engaged in spending. So it's a sprint with maybe some rest, and maybe a marathon and maybe then two sprints after one after the other, and then a medium medium jog and then a marathon and then lots of little sprints. And I mean often life is more like high intensity interval training, right, spent on off on. I mean, you can't view it. Oh, it's a marathon. I'm just gonna cruise, just gonna cause that's not the way it is. It's not life. Yeah, but it's it's not a good metaphor.

It's not a good metaphor. In life. You've got to be willing to spend, and as you get better in spending, your long term prospects improve as well. It reguids continuous effort and effort at various levels of intensity, depending on what's going on. All right, Christas, Turkey seems to be as aggressive an expansion as to Russia, China. They invaded Syria, oppressed the Kords, and constantly threatening Israel in Greece. Why does the worst treat them as an ally? Thanks Christas?

I mean because they're still under the illusion that Greek the Turkey is a Western Nising country. It is because of history, still a member of NATO, and they treated as such. I don't think it's quite as aggressive as Russia and China, and I don't have it has the military capabilities. But yeah, it's threatening as well. It's threatening Greece. It's not doing anything, but it is threatening, and it's definitely oppressing the Kurds. But it's been doing that for

fifty years and nobody seems to care. The invasion of Syria Tola, nobody cares because they got rid of a horrible dictatorship or their proxies got rid of a horrible dictatorship. So uh, you know, people focus on the positive, I guess, which is getting rid of Ouside, rather than negative, which has increased Turkish power. But it was still on the illusion that Tooky is what it was in in in the past, which was a Western Nias country, and it's not.

It's turned its back against the West and Western values. More importantly, what did I just do? Oh? I just may I just gifted some memberships, all right, Andrew. Reality doesn't require infallibility. In fact, consciousness efficaciousness depends on knowing one's mistakes to correct for the next similar circumstances whe encounters. Yes, absolutely, I mean failure is part of life. It just is. You're not going to have succeed in everything. You're going

to fail. And the ability to succeed in the future is going to depend on how well you handle failures today, how well you deal with them. And the better you deal with the failures, the more you learn from them, the better the positive in your life is going to be. And says, you said that many people have been saying you're not objective about Trump. Did you mean lately or rather since Trump came unseen? Well lately one person told me that, But he happens to be a fairly large

supportive of the show. But you know, I've been told that for ten years, in spite of the fact that I've been right about Trump for ten years. So I think I am objective about Trump. I think my constant negativity about Trump is one hundred percent justified. If anything,

I might be a little soft on him. I think Trump everything Trump does, only seemingly, particularly the second term, is confirmed everything I've thought about him, everything I've said about him, so which suggest that maybe I've been objective. So people have told me that over the last ten years, you know, nobody again and recently it's obvious that my negativity abound Trump has cost me in terms of subscribers. That is because people don't want to hear it. That's fine.

But I think I've been extraordinarily objective about Trump. I think I continue to be extraordinarily objective about Trump, and I think that reality keeps confirming that I'm right and have been right about Trump, and you know, you ignore reality at your own peral. I choose not to. I

choose not to. And yeah, and hopefully more and more people are coming to the conclusion that they were overly positive about Trump, because I think that conclusion is demanded by his actions over the last since over the last hundred days, one hundred or so days. But in m okay of losing subscribers to these are not subscribers. I'm not losing contributors on a Monti basis. The Patreon is growing, you know, PayPal is stable, so you know, super chat

has been really good. So I'm not losing the subscribers who support the show. I'm losing people who don't want to subscribe to. Somebody who is anti Trump, and that's fine. And Ben Shapiro, who criticizes Trump but does it more moderately and says good things about Trump, I think is the one being non objective because he's too positive about Trump. He's being non objective in that his criticism is to

value free, value neutral. I am not value neutral. Well, Trump does affect my life, and I will reflect that fact in my commentary. I'm not value neutral about anything. Values what everything is about being objective means being objective about my life doesn't mean not knowing what's a threat to my values. So you know, Ben Shapiro is very careful not to alienate too much of his audience. Not because I'm going to tell you the truth. I'm going to tell you what I think. I'm going to tell

you what my values are. I'm going to judge, and then you judge me, and some of you judge me to be non you know, not interesting, or not objective or not balanced thoughever you want to call it. Okay, that's you're right, Andrew. Don't let others determine your metaphysical attitude. Yes, so what I just said, thank you, Andrew Michael. What are the aspects of due process for illegal immigrants? Well, you know, so, okay, you're illegal. Due process requires that

we discover whether you really are illegal? Right, So first is are you illegal? Right? Give you an opportunity to show that you're not, that you illegal, that you got silent papers that you got, you've applied for legal status and your whatever. Our immigration system is complex enough that the distinction between illegal and legal is not that clear, and you need due process and I'll discover that. Second, given that some of these illegal immigrants are being sent

to prisons, not just deported, but sent to prisons. Are you a clonel if you're not a criminal, by what right does the government send you to a prison? Being an illegal immigrant means deportation doesn't mean incarceration, and it ourselve adobi in jail. So you need due process to established whether somebody is really a criminal and deserves to be incarcerated. So those are two aspects. I mean, it's

not an accident because we don't have due process. People who are not illegal immigrant and have been deported, and people are not criminals have been sent in El Salvender in jail. Michael, it seems the best way to implement socialist policies is by running on a platform that you hate the left. It does, doesn't it. The best way to, you know, impose socialist policies is by pretending you're not a socialist. But remember the Nazi Party was the National

Socialist Party. Everybody was a socialist. I mean everybody on the right end the left was socialists, you know in those days, and maybe everybody on the far far right and the far left are still socialist. Listen, Depth started reading Starship Troopers. Any thoughts on Handline or science fiction in general. I mean, I'm a fan of Handlines at least I was. Time I read Headline, I was probably in my thirties, so I haven't read his book in a long time, but I really enjoyed them in my

twenties and thirties. Starship Trooper is one where he's flirting with fascism, so you just have to be aware of that, and I think you'll see it. But it's still interesting and it's still cause you to think and think about what citizenship means, white people go to army voting, the role of voting, who should vote, So there's a lot of things to think about that. That's the virtue of onlines.

Novel books always causes you to think, you know, strange and the strange land will cause you to think a lot about sex relationships, how we treat unknown, who moons? Alish Mistress is very political. There's a Randian character one of the heroes. There's a Randian influenced by Rand. I say, inline Red Rand. There's no question. My favorite is Time lefl Love. Time Enough of Love was my favorite Headline book. It was the most benevolent it was the most fun interesting,

also caused you to challenge a lot of preconceptions. So I'm a big fan. Generally, I like science fiction. I don't read enough of it, but because it provides you with an opportunity to play around with, you know, different political schemes, different types of characters, different type of challenges, different types of values. So I think there's a lot. There's a lot that can be done with science fiction. I think there's a lot of very talented science fiction writers.

I think they're whatever. I think a lot of the more romantic writers and the better writers turn to science fiction and away from call it serious fiction, which is in the hands of the more morbid, less interesting, naturalistic writers. Michael. First they take the mind, then they take the body. Yeah, it's much much easier to take the body once they take the mind, much much easier. But it's a harder

to take the mind. But in the mind they often take without knowing, right, so by spreading ideology, but they don't really realize the impact of it. Jacob, what would laws acts would be needed to make American cities be truly great? Eliminate railroad regulations, zoning, interstate highway funding, labor controls, and construction anything else. Yeah, I'm sure there's a lot of a lot of related to zoning, land use restrictions that would need to be lifted, a lot of the

city planning would have to be eliminated. And then the other thing that cities and counties could do is privatize a lot of their services, figure out how to create business models that allow trash collection and utility provisioning and all that to be for profit competitive in the private sector. But you know, if they got rid of railroad regulations, zoning in a state, highway funding, labor controls, and construction, but also all the other things about construction. There are

a million different regulations regarding construction. For example, how many bathrooms per bedroom are you allowed to build in an apartment or a house? Minimals quite footage you can't build. You can't build apartments that are smaller than x exists in New York City. I think, what else all kinds of other things that make housing really really expensive. So a lot of the construction regulations, not with regard to safety, but with regard to what they consider like living minimal

living is it needs to be eliminated. A lot of regulations regarding housing and construction. They need to be eliminated. Michael. If one single person does not have the right to do process in your country, neither to you. Yeah, I mean you can't. Everybody has a right to do process. So nobody has it. And this is why. First they come for the illegal immigrants, then they come for the you know, legal immigrant, and then they come from the

American born. So you know there's no limit. You know, they'll come for the journalists, that'll come for the people who criticize them. Now, once you eliminate due process, Yeah, so slippy slope. Slippery slopes exist. Wes, thank you for the fifty dollars. Really really appreciate that fifty dollars sticker. That is fantastic. Michael. I don't like jd Vance. I don't think jd Vance could win. He's not charismatic, bad at lying, and rather unlikable. I think that's probably true.

He didn't win a center campaign in spite of that. He was elected vice president in spite of that. So never say never, but particularly given the bad performance of Trump, I think, you know, economic performance another I don't think. I think Jad Evans is probably not going to be able to win, which is really good news. There is just Hawley there out there to be afraid of them. Here on. Since you've been into art for so long,

did you ever come across the term shape language? I find it weird how it's been introduced to me as something people have evolved to respond to. No, I never have, and it sounds like BS to me. It sounds like, yeah, just something that people make up to justify the non objective arts that they want to hoist upon us and pretend that has that it has meaning. Luscinda got to go to a call with a friend. Will watch the rest of the show later. Everyone. Remember to reach the

witch It goal and remember you can send stickers. Thank you, Lissenda really appreciate it. Listenda doing a little bit of marketing for me, and I appreciate that. We're about a one hundred and fifty dollars short of the stretch goal, the three hour goal. There's a chance we will reach past the two hours. We'll see. Still got a few questions left. When you feel like stopping, think about why you started. That's from Michael. Yes, find motivation in the

motivation you had to start. Why did you have start? Now? Sometimes stopping is the right thing to do, right, not everything he started worth while continue, but regain that motivation to really objectively assess whether you should stop a start. Michael, how do these tariffs affect Boom Airlines? It could be the case that the disruptive and transformative nature Boom saves the stock market and boost economic growth despite statism. Well,

I don't think any one company can do that. I don't think Boom's market share, even potentially is that big us. I think Boom's real productive contribution to the world is still five years away at least probably a decade away in terms of real impact. So I wouldn't I wouldn't put too much onto the Boom shoulders. How much could it affect it? I don't know. My guess is that some parts that go into the Boom engine or go into the Boom fuselage or whatever, probably made in China.

There's probably some effect from China onto that. At this point they're not mass producing, so right now it doesn't matter, probably doesn't affect the next few years as they build a prototype. My assumption is that they can build a prototype without any problem. Right So, but if the if, the if it remains long term they will have. They will have a problem in scaling up and producing hundreds of jets. Michael says, hang in there it gets worse. Well, if it gets worse, why should I hang in there?

Thank you Robert for the sticker. Thank you, Liscinda, Thank you, Jeff, really really appreciate that. I think they're getting on a dollar ninety nine sticker. Maybe everybody who's on the show right now do a dollar ninety nine sticker, like that's less than a cappuccino. And yeah, that'd be fun to see a bunch of dollar ninety ninite stickers. Of course you can also do Jeff's three Canadian dollars. But Liscinda did a U O ninety nine and Robert did it

buck ninety nine, So keep it coming. Andrew Rand reacted to Mike Wallace asking if she was a pessimist with and could do it incredulity. Not not at all. She said she viewed trying to spread a philosophy as evidence of optimism, and she was Nopolianna. Yeah, it was also, what is it fifty years ago? There's us a long time ago, so a lot of bad things have happened since then. But I agree I'm not at a pessimist. I am and I'm positive. I think things can change,

they can get better. I don't think we're doomed. I don't think we're falling off a cliff. And I expect. I expect the world will be a better place in one hundred years than it is now. I don't know about twenty but in one hundred years, I do. Frank Musk said patents are for the week for those who innovate slowly. There should be no patents. Most inhibit innovation, not help. But please comment. I mean, I don't have time to get into this. It's a huge topic. But

I obviously disagree with Musk. I think patterns are essential

for economic growth. The patterns system was very robust in the United States during the nineteenth century when and early twentieth century, when economic growth was very fast and very innovative, and there's a lot of innovation and big innovation and innovation in atoms, not just in electrons, and big and good stuff happened so empirically, it's just not true America is the people who use patents were were not the weak, and you so massive and successful you cannot go to

in that period so just historically it's not true, and theoretically it's not true. Patents of form protecting property rights and property rights are an essential building block of the capitalism of markets, and I've had I've had Adam massafon several times to talk about patents over the years. I'm sure I'll have him on again. But if you're interested in digging deeper into patents, check out Adam Mossoff on online adif. Thank you for the sticker, Paul, thank you

for the sticker. Stephen Harper, thank you, no one, thank you. So we got a bunch of one ninety nine going, we got a two, we got a four euros. So yeah, buck ninety nine from everybody, let's do it. You got one hundred and fifty people watching this. Bonnie just did another buck ninety nine. This. It's good. I love it. Just just chipping away like that and getting all of you involved. It's a blast and value for value you're watching. You're getting something out of the show. Show the value

in return. Luke thought i'd send something because how often you respond to my chats today, first super chest, first super chat excellent, Thank you, Luke? Did it tell me it was your first chair. I didn't notice that, so congratulations, thank you. I very much didn't say it was the first jubis Het interesting, thank you, that is amazing. I like numbers. Haven't you predicted stagnation for a few years, Yeah, and we've had pretty low I've predicted stagnation for twenty

years since the Great Financial Crisis. I said, the bailout and the Great Financial Crisis, the result would be slow economic growth. Now we haven't had. We've had slightly higher economic growth than I would have expected. So it's been to three percent, closer to two under Obama and the Trump under Biden. Now I expect lower, So I wouldn't be surprised if if stagnation manifests itself one percent. Now remember that I believe the economy could got five six percent,

So two percent growth is stagnation from my perspective. But yeah, I've been predicting stagnation for a long time. Milko, Milko, thank you, Hey you on thanks value for value. I appreciate that. I'm still waiting to hear from you about it's a leader summer. If we're doing something, if we're meeting up and if we're doing an evanded MODERNA and if we're doing something. Let me know. Thank you, Milko, let's see I got that, Gail, thank you for the sticker, Alan,

thank you for the sticker. All doing one three dollars? Yeah, this is great. This is great. We're already only only eighty one short from the stretch goal. This is fantastic. Frank, what's your take on the banner as a tool of free speech? Wouldn't often be reckless? Also? Is dollar a week or strong? If I pay eighteen dollars for fifteen British pounds the banner? I mean, there is no such thing as a tool of free speech. There's no such thing as a tool of free speech. The banner has

free speech. It's free speech needs to be protected, and it's protected through the government needs to protect it by not using force against it. Might not use allowing other people to use force against it. But it's not a tool of free speech. And was it often reckless? Yeah? I was often reckless and wrong, but there's not You have a right to be reckless up to a point unless you're endangering people physically. Is the dollar week of strong?

It's still strong, historically weaker than it was three months ago, six months ago, I haven't got the shot in front of me, but still relatively strong. They have been periods in history where it's being weaker. It's all relative, right, It's still pretty strong, you know, from historical perspective, which is all we really have to go on. Raphael Hi you Ron, Can you explain what happened to Hypatia? Who killed? Who killed? An historical context? Just finished a Goa movie

and really enjoyed it. Yeah, the Goa movie is excellent. You know, I don't know the details of the history. I know that Goa movie is not historically correct. That is, it takes a lot of liberties with history, which is fine because it's a movie and you should be able to do that in a movie in order to dramatize. It's not clear that that's when the library was burnt, and those were the circumstances, and probably once and and

I don't remember how she died or who killed her. So, but she was a female philosopher, one of the last, uh you know, one of the last who before the kind of the beginning of the Dark Ages and the end of Rome. So she's still at the at the edge of the Roman Empire. This is in Alexandria. She's still a pagan, she has not, but the Christians are slowly taking over. Destroying the library is destroying the learning and destroying the the the whole idea of philosophy CoA philosophy.

And you know this is this is Bethia's death is part of that decline of Western civilization into a Christian dark ages. Andrew, there are no there are no people in the world who could compete with us in any area of production, including manufacturing. If American ingenuity was combined with Las fay rational or American bravado, I'd say American bravado. I mean, is that really true? Right? I mean? And what are you comparing to you comparing to other countries

having laz a fair as well? The Germans are pretty damn good at at manufacturing certain things that America has never been particularly good at. Americans have very particularly good at so textiles in mass and cheaply. Chinese are probably better than America, even even if America was laser fair, and we wouldn't want to produce it. Part of the issue, right, So it's not clear what that even means. It's a very collectivistic view of the world. We are better at manufacturing?

Who's we? What does it mean? How do you measure that? Would we make everything ourselves? Obviously not so how do we'd even know? It's just a meaningless and it's sorry, Andrew, but it's just a meaningless statement driven by collectivism, a collectivistic view of economics, which is all around us, so it's easy to get captured by it. David, thank you for your first super Chat as a sticker, but really really appreciate. Linda, Thank you for the super Chat. Timmy Cochrane,

thank you for the super Chat. You guys are great, really really appreciate it. Only fifty one dollars away from the stretch goal, listen to thanks to YBS and AAR, I can focus less on politics and most of my time on studying, reading and my other hobbies and values. And thank you and thank you for supporting the run book show. I really appreciate that. All right, Andrew? Do

you interpret that? When interpret that? When someone tries to sum up what you're saying in a pithy generalization in super Chat, the essential motivate work is to help him integrate the essence of what you're saying. Yes, yeah, absolutely, I mean, uh, pithy short ways. I mean, that's that's really good ways to summarize it. And sometimes I critique it because it's not fully understood. Maybe I didn't express myself well first time. But yeah, I've I think it's

I do interpret it that way. Richard, Thank you twenty dollars. I'm studying AI after forty years in tech and find it's like working on a move with continuous script rewrites, on a movie with continuous script rewrites. I suggest that you project how you will use AI, for example enriching your knowledge. Yeah, I have an idea how I want to use AI for marketing help primarily summarizing like i'd love to be able to, and I know this is possible.

Basically feed the AI my show and have it summarize it for me and then include the summary in the description of the show and in the marketing material like on Twitter and stuff when I market the show. So that is step one that I would like to do. But there's things like that that I would like to do. And then there's also stuff about just enriching my knowledge that that is a lot easier, and I still I am not quite ready to replace book reading with AI.

Why do we believe financial markets are efficient when institutional investors is mostly run by Keynesians or other variations of pseudo economics, Well, because I don't think it is run by Kansian I think that most that the investors that matter, the investors of matter are the marginal investors, the investors that are willing to buy a sell as price changes. The long term holders of stocks don't matter for prices.

Most institutional investors are just by hold investors. Really, the people who make a difference are the hedge funds and the one buffets of the world. And I can tell you none of those are Kansian, certainly not the hedge funds. And because they are the ones that are constantly price searching, price seeking, looking at prices and trying to evalue it. Soelo by it by yourself, they can do both. They can short, they can long. They're the ones who actually

determined prices. And to the extent that they're successful, over time they grow and therefore they have more market power. To extent that they're failures, over time they shrink, they disappear, and they have less market power. So the market reinforces the good within it. All right, last two questions with thirty one dollars away from the target from the stretch Tugget Fendhoppers, speaking of science fiction, just finished Hitchkiker's Guide

to the Galaxy. I found it hilarious, but I've learned to laugh at cynicism. It's absurd cynical. Haha. Have you read it? I have not. I have now read it. Never appealed to me the kind of absurd cynicism that it embraces. I know a lot of people who love it. All right, last question from rational Ip. Thanks for any insights today. They are very inspiring. I'm really enjoying my journey into objectivism. To end on a light note, what's one tech company you admire and why does it stand

out to you? I mean the obvious one is Apple, as I think everybody knows, I admire Apple. Steve Jobs is one of my all time business heroes. He is a I think he was a real giant, and I like the way he carried himself. I like the way presented. I like the his strategic thinking. I liked this long term thinking. The guy had vision and he understood what was important and he changed the world. And Apple is still has some of that DNA in it. It's not quite as innovative. It is an exciting as it was

when Jobs was alive, but it's well damn good. And and Tim Cook is more of an operator or an executioner, a more supply chain guy and a manufacturing guy. But you have to admire that as well. And and uh probably more political than diplomatic than Steve Jobs would have been. Uh So, I I you know, I love that company and I respect that company. You know, I'm a little detached to other tech companies that I admire. Yeah, I'm not a big social media person, you know. I I

love Amazon. I love Amazon. Amazon has changed our lives in dramatic fashion. And yet everybody takes it for granted and loves to hate it. And yet they're real heroes at Amazon, and they've they've made the world a better place for all of us. They've they've changed the way we think about shopping, the way we think about storage, you know, think of cloud computing. Yeah, I mean, Amazon's

another great, great company. It's hardware is a mixed bag, but again it's you know, it's just changed the way you do things. I mean, think about how much you get if you buy one of those Amazon firesticks. How simple, easy, small, and cheap that is, and how much value it contains on it. I mean to be able to stream Netflix and all those things. It's just, yeah, it's amazing how much value Amazon provides. Friend Happa, thank you for the sticker.

And we're dollars short of our goal. Maybe somebody can do a dollar sticker. Okay, we've got two additional questions. Hey, Ron Destiny has some serious sexual allegations against him. In case you didn't know, neihverhood that mentioning, so it's not a surprise if it comes up in any capacity. Thanks Nick. I did not know that, and I have no idea how seriously. I assume if they're seriously'll be prosecuted around them.

But thanks for giving me the heads up. Michael, what if they What will Trump do if the Supreme Court throws out his tabs this fall? I think you'll have to retrench and you'll have to come back with something different. I don't think that Trump wants to negate the Supreme Court. He will sideline, and he will hesitate, and he will they as much as he can for as long as he can. But in the end, I think he will accept the rulings of the Supreme Court and live by them.

I hope I'm right. I'm not sure i'm right, but I hope i'm right. All Right, Andrew just did a stick out to get us past the goal. Really really appreciate that. Thank you, guys, Thank you everybody for being so generous. All Right, show tomorrow at two or three pm EASCAN time partially depends on how the Destiny thing goes, or maybe it'll be in the evening because I don't think I have an interview guests for tomorrow evening, so maybe I'll move the news show to the evening if

my voice is going after after tomorrow, we'll see. But for now, thank you. I'm going to try to get some rest so I can keep going tomorrow. I will thank you Duffy Sutton for the sticker. Appreciate it. Thank you all, and yeah, see tomorrow thanks to the super chatows. Have a great rest of your Sunday. Bye.