Kind: captions
Language: en
The healthc care battle is raging right
now. Everyone is pointing fingers at
everyone else. But the stock market
apparently loves what's going on with
the shutdown as we hit an all-time high.
We can't lose sight of something that
Eric Weinstein is calling revolutionary
empathy. And it's exactly what's behind
the horrifying terror attack in
Manchester targeting Jews on Yam Kapoor,
which is the holiest day of their year.
Musk and others cancelling their Netflix
subscriptions. It's around children's
shows discussing LGBTQ plus values,
nuclear safety fears spike at the
Zaparitzia nuclear plant in the Ukraine.
I'm seeing CNN. I'm seeing Michael
Johnson. Everybody's kind of positioning
what's really happening. So, I want to
play two clips. The first one is Mike
Johnson speaking on um CNN. They
actually stopped the clip. Um I'll let
you guys figure out why when I play it.
Here we go.
The working families tax cut included a
huge provision. A big chunk of that bill
was the health provisions. Now, why are
we saying that they want to return and
restore uh taxpayer funded benefits to
illegal aliens? Because that's exactly
what they did. When they rejected the
clean CR that we sent over, the Senate
filed the Senate Democrat
I include myself is either intentionally
or unintentionally spinning propaganda.
I am constantly framing things within my
own frame of reference, my own
viewpoint, which so take my comments
about Candace and Michael Sailor, right?
Those are from my viewpoint. Uh CNN
literally, as he was about to explain
it, just propagandizes and turns him
down so that you can't hear his
explanation. That's wild. That's
somebody who's like, "I'm so afraid of
the argument from the other side. I'm
not even going to let people hear it
because they might be persuaded." That
to me is stupid. Now, of course, they
believe that they're right or they
believe that it's going to be good for
TV or whatever it is that they believe,
but they are they are propagandizing.
And this is one of the most dangerous
things all of us need to be aware of is
how
we're being controlled by algorithms.
Nobody is necessarily right, but
everybody is trying to convince you that
they're right. This is why you need to
be thinking up from first principles. So
anyway, we'll we'll get to the specifics
of what's going on with the government
shutdown, but like things like that just
watch out for. Have your mind tuned to
this person has an agenda. They are
trying to convince me of something. Uh
so anyway, most of the mainstream media
outlets are a propaganda arm for either
the left or the right. Uh which should
make it everybody very sad. So by all
means, dip in to find out what does the
right think? You're going to go to Fox.
What does the left think? You're going
to go to CNN, NBC, ABC, whatever. But
like you want to understand, oh okay,
cool. This is what the official
narrative is from these sides.
>> Uh even if you think that those people
are well-meaning, they are still giving
you just blatant propaganda.
>> Uh so I hated that. Now, in terms of
what is his argument, it's taken me a
while to piece together behind the
scenes what's actually going on. So, the
big beautiful bill stripped out um
coverage from the Affordable Care Act
for a lot of people and uh it did it by
adding requirements. So, it's like, hey,
you can't just qualify. Like, you've got
to be trying to get a job or whatever.
The the specifics of that I don't have
right in front of me. So, just think of
it as there were people previously that
didn't have to prove that they
qualified. They're now going to have to
do certain things to justify their
inclusion. So, basically those people
they're they're calling they've been
bumped off. Uh and then their the
propaganda game right now is all about
the right is just going to say this is
all about illegal immigration. They want
to the left wants to give illegal
immigrants healthcare coverage. Now that
seems beyond reputation from where I'm
sitting. We showed the clip on
Wednesday. We show it again. Other
outlets are showing it. Uh during the
2020 presidential runup, so this is
actually in 2019. There was a panel of
presidential hopefuls, Democrats, every
one of them, and they were asked, and
there's like whatever, nine of them, 12
of them, something like that. Um, raise
your hand if your platform, your policy
platform would include giving
undocumented immigrants healthcare
coverage. Every single one of them
raised their hand. So, to say that the
left doesn't want uh undocumented,
illegal, whatever your favorite word is,
>> coverage is ridiculous. Can I push back
on that?
>> Cuz I feel like if you would have asked
them the same question, does your
platform include student loan
forgiveness? Everyone would have raised
their hands, but that doesn't
necessarily mean that there's a
legislation right now for student loan.
>> Sure. For sure. Awesome point. But what
I'm saying is uh you're in a political
game. Political games come with trying
to control how you perceive something.
And so what what I'm saying is I think I
my perspective. So hey again, Tom's lost
in his own propaganda, but my
perspective is without a doubt the
platform of the left is everybody
deserves healthcare.
>> So I'm just saying, okay, given that we
know that they want that.
>> So when push now, they're not just
coming out and saying yes, we want it,
but that isn't what we're pushing for in
the bill. Okay, they're not saying that.
Now, why do I think they're probably why
do I think they're most likely not
saying that? They are most likely not
saying that because it is very easy to
confuse people when you actually look at
the language as to what's going on. So
truly by definition, illegal immigrants
do not have a right to anything other
than emergency healthcare.
>> Okay. So first of all, you've already
got emergency healthcare. So illegal
immigrants will get that.
>> Yeah.
>> Um where people draw the line, is it
life-saving? Is it just going to the ER?
I'm not sure where that will break. Uh
but the real debate is when do we
consider somebody illegally uh illegal?
Are they illegal? If they came here
illegally but have been moved to
temporary protected status because the
argument from the right is the shell
game that they're playing is twofold.
Shell game number one is they came in
illegally but for whatever reason they
got temporary protected status. the
right is claiming the left did that
specifically to get them healthcare and
I'm sure other things but that more what
again if you consider them illegal if
they came here illegally regardless of
how they got moved around by the
Democrats
>> uh that if you consider those people
illegal then yes the changes that they
are trying to make right now that they
have shut the government down over would
allow the people who came in illegally
got moved to things like temporary
protected status will now get coverage
Mhm.
>> Now, when you really look at the numbers
though, that's a pretty small part of
it. Like, I get it. It's the rallying
cry. It is what the right is going to
bang the drum about because call it of
the 1.5 million is probably somewhere
around 12% or something
>> of that number would go to people that
are immigrants. And now we get into the
debate about whether they're legal,
illegal, but
>> but that still leaves like 85 almost 90%
of why don't we talk about that? So
nobody's talking about that which is
like all the qualifications the
qualification stuff where it changed
their status accounts for like $900
million of the 1.5 trillion just to give
people a sense of like what the real
battle is. So there's there's two ways
to look at this and that is uh this is
just all propaganda
and then the other is no no there's a
sincere debate to be had about like when
does somebody when are they considered
legal illegal but nobody's talking at
that level. They're all just trying to
give messages that are easy to repeat.
>> No 100%. Um, and I want to jump into the
uh Ro Khan on the All-In podcast because
he breaks down exactly just that, the
9010 um, difference of what is driving
the conversation.
>> We're on the verge of a shutdown, bro.
The argument on the other side
>> says that the tax credits and the
healthc care subsidies will largely go
to folks that are here illegally. Can
you confirm or debunk that?
>> First of all, it's a it's a very small
portion of people that we're talking
about. So 90% is not anything to do with
those who are undocumented. That's just
the math, right? I mean, so we can argue
about correct about the 10%. But we have
in this country something called
emergency Medicaid. What does that mean?
>> It it it be this becomes very clear very
fast. So I I just started talking to
Chad GBT uh and Grock
>> and going back and forth between the two
like trying to figure out what's real.
Okay, what about this? Where's that
number come from? Okay, what's the
total? Uh how much of it goes to
immigrants? What's the debate over? like
you don't have to ask but like five or
six questions and you're like, "Oh, I
get what this is." It is wild to me that
people don't do that research. They just
stay at the headline level, get super
angry, and start freaking out. Like the
the fear that I have is
based on time,
intelligence,
desire. Like you can really control a
populace just with headlines.
>> Yeah.
>> Just with headlines. So anyway, if
you're here, odds are you're not the
person that gets sucked in just by
headlines, but um don't want the other
team to be wrong. Merely want yourself
to be maximally educated so that you can
steer well in life. Remember, skills
have utility. So I have a really strong
worldview about money printing,
socialism, bad, all of that. So who is
Drew pitching me as guest? People that
believe the exact opposite. Uh, and I
love that because even if they end up
proving that I'm wrong, that's super
useful for however much money that we
make running Impact Theory, I make way
more in in my investments. So, my
investments dwarf uh what I make as a
business guy at this point in my career.
Obviously, there was a period where that
wasn't true, but uh
when you understand something real, you
can do things in life other people can't
do. So, just remember as we listen to
this, if you hear things from me or
anybody else that like hurt because they
make you realize you were wrong, just
remember being right has utility. Being
wrong only has like emotional value.
>> So, anyway, just a PSA. We'll return to
the show in just a second, but first,
let's talk about priorities. You're
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protein and get the $20 off. Now, let's
get back to the show. Uh, all right.
Jumping back into the video.
>> I don't think if you're undocumented and
you show up to a hospital that you
should be denied care. Well, who pays
for that? We have an emergency Medicaid
program. And I guess if you mean that
when you fund Medicaid, when you fund
the Affordable Care Act that you're
saying you're funding some of it for
undocumented people who are showing up
in emergency situations, then yeah,
you're funding that. My view of it is
that let's be honest, that that's not
where the big money and the budgets are.
You're talking about a small group of
folks. You can argue the cultural point
about it, but don't make that the
numbers point.
>> Yeah. Nice and sensible. That's not
going to light the internet on fire.
That's not memeable. That's not
exciting. And so the problem is that u
the game of politics is a game of
narrative control. And narrative control
is done by triggering emotions, giving
people things that are easy to remember,
giving people things that are easy to
repeat, memeing it to death. Here's the
thing. Trump is hilarious. like the um
Hakeem Jeff post that he does where the
mariachi band appears behind him. That
is that that is outrageous in like the
truest sense of the word. I I was like
what is happening this I had to check. I
was like is this a parody account? So uh
he knows how to do it. He knows how to
do it. Like he knows how to speak in the
language of the internet. He knows how
to trigger people's emotions and it
works. People talk about them all the
time. It's wild. So, uh, but if you want
to get to what is actually true and
real, like the real debate that we
should be having is do we want to shut
down the government um over healthcare
when we have plenty of time to negotiate
this before the um the subsidies run
out. So, there's plenty of time to have
this conversation without shutting down
the government, but they are causing a
shutdown of the government.
Uh, are we okay with the fact that the
Democrats um signed off on a continuing
resolution bill 13 times and now off of
um a budget that was set under Biden,
they're not willing to extend. So, it's
like if we were having the debate at the
real level, it's not it's more nuanced.
It's not as easy to repeat,
>> but if we could actually have the
conversation at that level, then we
might be able to make um some headway.
But yeah, the stuff is it's just
complicated enough. It's just nuanced
enough that they know me, it's not going
to work to have the conversation at that
level. So publicly I'm going to say all
this crazy outlandish [ __ ] and then
privately um hopefully they're having
the real conversation. But the real
conversation as Ro is pointing out here
is about the 90% of people that got
booted off via the BBB. Do we want that
or not? And then nobody is talking about
the this adds even more money than the
BBB did, which is wild. Like this is
insane. You you are enslaving your own
children. I don't have kids, Drew. And
I'm like, the [ __ ] are people doing? You
are enslaving them in trying to save 40%
on healthare premium.
>> Jesus Christ. Not only are you enslaving
your children in debt, you are
guaranteeing a revolution. And I don't
mean big scary thing. I mean revolution.
I mean actual bloodshed. I mean people
dying in the streets. That's what I
mean. And people just can't see it. Bro,
watch. Look at what's happening with mom
Donnie. Okay. might be a lovely human,
but he's arguing for the most murderous,
self-destructive policies on planet
Earth. And I seriously doubt he's doing
it because he's a murderous person. He's
doing it because young people today have
no hope in the current system. And so
he's just like, well, I'll give him
hope. And he has convinced himself that
these systems that murder endlessly will
somehow work this time. And this has
been me'me to death, but is still when
people are hopeless.
>> I'm going to use a video game reference,
Drew.
>> In Minecraft, you can eat rotten zombie
flesh. Now, it poisons you, but you can
still eat it.
>> That's what people are doing with
socialism. It's like, well, I'm
starving, so I'm going to eat something.
And sure, if the only thing that I have
to eat is rot rotten zombie flesh, then
I'm going to eat the rotten zombie flesh
>> because I just can't stop myself. People
lost at sea will drink sea water because
it's going to kill you even faster, but
it's wet and I'm thirsty.
>> That's socialism.
>> Um, that reminds me of a clip I seen on
Twitter from uh Mr. Fishbag, James
Fishbag. And I think this kind of
grounds what you're saying. And I want
to put this in context with some of the
things that Trump has been doing and
just has this contributed to the general
sentiment of the country. The
>> federal government budget is 54% higher
today than it was right before CO in
2019.
Ask yourself, is your life 54% better?
The government services, the government
response, is it 54% better than it was
before CO? The answer is obviously no.
We got too many bureaucrats, too much
spending. Doge the entire system. Let's
do round two of Doge, a Turbo Doge
speedrun over the next month.
>> It won't work, man. So, pause it. That
Oh, God. That is a really good way to
put it.
>> Yeah.
>> Uh I think everybody understands that
things have not gotten better, at least
not to that degree. Uh the problem is
that so much of that spending just had
to do with going on a hiring spree. And
so you can affect your jobs numbers and
your GDP shockingly
>> simply by hiring people into the
government. And it's ridiculous because
that's phantom. It's not real. You're
not actually adding to the productive
economy. But you're giving people jobs.
Uh you're money printing. Uh so even the
money is phantom. But nonetheless, it
looks good on certain reports. It makes
people feel good. They now have a job.
We can say, "Hey, things are growing."
Um,
>> so when you do that, when you create a a
system that is that inefficient,
you create the situation that we're in
now where people are never going to let
you cut because they they certainly
don't want to move backwards. They're
like panicking already. So, they're not
going to want to move backwards. But
nonetheless, the system that they view
as reducing it would be moving backwards
is not delivering the outputs that it
needs to deliver and it's making things
worse. I really, really, really want
people to understand what a positive
feedback loop is. Pregnancy is a
positive feedback loop and so it just
keeps going unless you interrupt it.
It's going to keep going until 9 months
later the woman starts having
contractions and the baby is ejected
from her womb. So it's like there's a
hormonal cascade that keeps us all
moving. And so as the hormones hit like
a certain uh amount of different types
in a certain cadence at different
timing, then boom, the baby comes out.
>> So that's what we have here. Like we
will go broke. We will go broke. There
is a knowable sequence of actions that
leads us to going broke that we are
doing which is roughly hey if you add
>> uh trillion dollars to your debt every
100 days then you're going to go
bankrupt. It's not an if. You're going
to go bankrupt. It's mathematically
certain. So it's a positive feedback
loop. The more debt you add, the faster
you add the debt, the more likely you
are to go bankrupt until there's nothing
you can do. So, um, the number is of
course just debatable enough, but every
country that has ever gone over 130%
debt to GDP for any meaningful amount of
time, which will clock at roughly 18
months to two years, has torn itself
apart from the inside. Uh, the only
exception is Japan. And so then people
will point at Japan and be like, see
then, but it doesn't matter. Uh, it
matters. It matters. It matters. It
matters. when 98% of the time it
happens, it matters. And it matters a
lot. And plus, I think Japan's in
trouble. So, there's that.
>> You're just saying full stop. You think
that they're in trouble?
>> They've already been stagnant for like
40 years. You can only do that for so
long before things start to break.
>> Uh the I don't know the current state of
the um yen carry trade, but I know it's
now had two big reductions that have
washed a ton of people out. Um, and so
that means that the Japanese bank is no
longer able to basically manipulate the
value of their currency effectively
enough. And so it's starting to get out
of their control. And if they completely
lose control of that, then they're
really going to be in a rough spot.
>> Uh, it it seems that like on paper the
economy is doing good. You mentioned
this um during the intro that the stock
market
>> What part of the economy though? Part of
the economy is doing great. If you own
assets, you're loving life. stock market
like you're doing good. Housing market
millions of dollars in like the last six
months.
>> It's wild.
>> Yeah.
>> But if you don't own assets,
>> sorry.
>> Game over. Your life sucks. You are in a
brutal spot.
>> Yeah. And that leads me to the jobs
report.
>> 10% 10% of Americans own 93% of the
assets.
>> Sheesh.
>> Yeah. So, uh, listen, there are people
in chat saying that I'm on the, uh,
basically the wrong side of the
revolution. I'm on the, uh, they didn't
say elite side, the the aristocrat side.
Okay, not true. I have won the game of
capitalism. Got it.
>> Now, I don't understand people that go,
"Oh, I know how to win in the system,
but I'm not going to." That doesn't make
any sense. Uh, I also loathe people who
know how to win in the system and don't
want to tell anybody else. Drew, there
is not a single piece of information
that I have that I have not told people.
They can ask me any question they want
and I will give them the best answer I
have. I'll even talk faster, which makes
me lose audience. By the way, the team
is always telling me if you want to know
why in the deep dives I talk so [ __ ]
slowly, uh, that's why they perform
better. I'm trying to give people the
information both on an entrepreneurship
side, on a mindset side, on uh the
economy, how to invest side. Uh I'm
giving them all my best stuff, Drew. All
my best stuff. And so at a minimum, you
certainly can't say I'm just like go eat
cake.
Uh but yeah.
>> Yeah. Uh because that led me to
>> JH. Trust me, I I am well aware. I'm
well aware, man. Uh CNBC just reported
that they revised both the August and
September numbers that was a positive 54
to now a negative 32. Uh these are in
thousands. Uh so it seems like jobs are
being lost. We're lost neither a million
jobs just with layoffs.
>> So it seems on one side if you just look
at number go up. Yeah, we're the economy
is the best it's ever been. But when
you're seeing unemployment numbers tick
up, you're seeing record layoffs, you're
seeing these job report revisions are
like, oh yeah, those jobs didn't like
weren't there. So we're starting to feel
the underlying assets. So if those 10%
who own assets are doing good, does that
mean the economy is doing good? And as
long as the asset holders are
benefiting,
>> we really have to define do good. If if
you've been investing in the stock
market, dollar cost averaging in for the
last 20 years, you love life right now.
>> If you are a young person who was taught
nothing about the economy, you can't
afford a house, all of your money is
going away because uh in the last 5
years alone, inflation has been 25%. and
uh wages have been effectively stagnant.
If you are call it just the average
person who's like uh there are no
manufacturing jobs. We went from I think
30% manufacturing as a nation in like
1960 to 10% now. So uh there's there is
a type of person for whom their passion,
their abilities, their talents lead them
into manufacturing is like the perfect
thing or a trade. Uh and we've [ __ ] on
that for god knows how many decades.
We've raised men to not be aggressive,
uh, to be somehow ashamed of all their
natural impulses. It's it's crazy. And
if you want workers to be able to
influence their wages, then you cannot
be offshoring everything. You just can't
because you make it a global market and
then people are going to go wherever
they can get the cheapest labor and
that's just the way that it is.
>> Uh, also what people buying things want
is the cheapest thing ever. So, the
great hilarity is uh people both loathe
um Jeff Bezos and use the [ __ ] out of
everything that he's built. What he's
done is an economic miracle. It is
unbelievable. He has given everybody
everything they've ever wanted for
cheaper
>> in two days.
>> Uh and yeah, and people are super mad
about that. He's really won like one
one.
>> Uh but guess how he won? He won by doing
a very very hard thing that people
really wanted.
>> Yeah. Um but at the same time when
non-asset holders are struggling, job
reports are getting revised down,
>> good old Donald Trump is at a record
high 7.3 billion shown his uh wealth
increase especially over the last year.
So whether it's the sneakers or the
stakes or the Bibles or uh the
>> Does he sell Trump Bibles?
>> Yeah, there was a Trump Bible for real.
>> There was a Trump Bible. Uh the World
Liberty Coin. Wait, wait, wait, wait,
wait. I need stats on this.
>> There was a Trump.
>> How many copies has he sold?
>> That I don't know.
>> Oh my god.
>> He was definitely selling like
>> Chad, come on. Somebody has to know how
many copies of his uh Bible he sold.
>> God bless the US. Yeah, the original God
Bless the USA Bible. $60 Bibles.
>> The USA Bible. This is amazing. This is
the kitsiest thing I've ever heard of in
my life. I might need a USA Bible. Trump
is going to make you buy a Bible. Jesus,
you know, how you work is how you work.
Like, who am I? Who am I to judge God?
>> There's different covers. Oh my god. As
as somebody who's made unique comic,
>> well done, Gund
G's on it for the hundth.
>> G, that might be my greatest sound
effect cue of all time. That was
incredible.
>> Uh oh, hold on, hold on, hold on. So,
when we were doing comic books, which by
the way, shout out to the Japanese.
>> Uh, it keeps getting better,
>> bro.
I hope you guys are looking at your
American. There's no way any of this is
real. This is all fake. I refuse to
believe it's not
>> only guitar officially endorsed by
President Donald J. Trump in gold
letters. You know, you know that's his
thing.
>> This is our president.
>> Oh, man. America.
>> All right, hold on. I've got a whole
bunch of nested thoughts open. So, uh,
one, shout out to the Japanese comic
market. Baruto sold 10 million copies in
2025.
>> Bro, there's no money in comics as I
learned the hard way. But
>> as I was going down the path of, okay,
how am I going to make this work? Ends
up leading me to Japan. They've just
done it well. They've done it by
focusing on kids. Okay, close that loop.
>> Uh, the US Bible having multiple covers.
This is something you do in comics so
that people will buy multiple because
they want to be a completionist. They
want all the covers. It's phenomenal.
That's actually how the only way the
very limping and nearly destroyed
American comic book market stays alive
is with collectors that want all the
covers. Uh the fact that his USA Bible
has multiple covers so that you will buy
more. I love it and hate it at the same
time, Drew. I love it and hate it at the
same time. This is amazing. This is
amazing. I have so many conflicting
feelings about all this right now. This
is wild. So I remember you called like
the memecoin release like the Trump
coin, you know, icky and that was kind
of a wrong way to do it.
>> Yeah.
>> Is this is my frustration. Let me just
get on my soap box for a second cuz I
think right now we're kneede in a
government shutdown arguing about 10% of
a bill revision that impacts a small
margin like small margin of community.
>> Meanwhile, grocery prices are still
high, inflation is still kicking,
unemployment starting to tick up.
>> Well, okay. In fairness, right now
inflation is not a problem. But it went
up 25% in the last 5 years. Just I don't
want people to think that I'm pushing
like some false narrative, but yes. Got
it.
>> It's not zero. It's or it's not negative
how you would like to say,
>> which is what it should be.
>> Yes. Um so there there are real things
that need to be established, but yet I
feel like we're distracted by all of
these things.
>> Yes. Yes. So
>> how do I stop? How do I not be
pessimistic and say, you know what,
politicians don't care about us. Trump
trying to sell his Bibles. Let me just
sling my thing to get rich and get out.
>> Oh my god, thank you for that question.
And I swear you did not set me up for
this. Thank you. Thank you. I actually
love this. Okay. Uh all of my deep dives
I now end with like first I make a pitch
for okay, this is what we'd have to
change at the societal level. I'm so
pessimistic about that. Then I end with
okay, you can do these in your own life.
>> And if I could get people to just go,
oh, there's I can control my own life. I
may not be able to control society, but
there is a way to win. And you live in
the age of AI and the internet. You can
find all of this information out. This
information is knowable. So if if you
want to win right now, you have to be in
assets. And there is a modern miracle
called the stock market. And the stock
market, they are trying to really smart
people, really financially savvy people
are trying to use the stock market to um
take from they're they're trying to
hustle dumb people. Okay? And so if you
know, uh, I'm going to the casino and
I'm gonna play against these really
savvy people who are counting cards.
They know how the game works and so
they're just trying to take my money and
then I will remind you, okay, cool. That
is what's happening. But they in all of
their like trying to create this rigged
game, they created something where as
long as all you bet on is the game
itself, you effectively can't lose. Now,
there are no guarantees in life, but you
effectively can't lose. So, I know that
you like the flashing lights of the uh
the slot machine, the [ __ ] that thing
called
>> slot machine.
>> Slot machine. There we go. Uh I know you
like all the lights of that. And I know
that the people over on the crabs table
look like they're having a great time.
And I know that you think that you've
got a like 2% advantage when you play
blackjack. Don't play any of those
games.
>> Just bet on the game itself. Just bet
that people are going to walk in and
play.
>> That's it.
>> Uh it's going to take you 20 years. So,
you're going to watch some people get
rich like overnight and they're going to
like celebrate it and they're going to
put it up on the boards and they're
going to try to sucker you into playing
those games. Don't do it. Just bet on
the fact that people are going to play
the game. And if people can stomach that
it takes 20 years, it's not binary, by
the way. You're making more money. You
probably won't have more than a three or
four year stretch where you're not
making money. So, for the most part
during that 20 year run, like you're
actually going to be like winning.
you're going to be making additional
money as you go and you just keep dollar
cost averaging in. Not trying to be
smart, not trying to outsmart the
market, just saying, "Ah, I don't know,
but I know that people are going to
build companies and I know that they're
going to go public and I know that
people are going to bet on them and so
I'm just going to be here and I'm just
going to write it." And for the last 200
years, 200 years, again, there's no
guarantees, but for the last 200 years,
if you just stayed in over, I forget a
10-year period or 20-year period, it
always comes out to roughly 6.5%
over inflation. So, the stock market has
outpaced inflation, which if you have
heard me talk endlessly about it, you
know exactly why. And so, that's it.
Like, you just get into assets. Get into
assets. Now, I'd much rather be giving
you a spiel about buying a house. Uh,
but alas, this is not necessarily a good
time to buy a house because that is
super tied to interest rates, which
right now are given that we're in fiscal
dominance is bad mojo. So, that's it.
And if people can embrace that, oh, I
can win individually. I may not be able
to sway the whole society, but I can
still win individually.
Great. Now, you have to be willing to
take some risk. You have to be willing
to get rich low. One of my favorite
stories about this, if you guys don't
know, Wall Street Trapper,
>> I love that guy. He went to prison,
gangbanger growing up, just like the guy
you expect to rot in jail,
>> goes to jail and happens to get a
cellmate who understands the stock
market. And his cellmate was like, "Let
me tell you how the game is rigged. You
can actually play to win." And just
recently, Wall Street Trapper, friend of
the show, absolutely love him, uh, made
a million dollars on a single trade.
>> Let's go. So, it it is um really really
really really impressive. And again,
when you hear him talk, I wish you could
hear him from a couple years ago, five
years ago, cuz he really sounds street.
And so, it's like you think, nah, this
guy doesn't know what the [ __ ] he's
talking about. And he is over there just
stacking money and he's doing it the
slow way, like just I'm going to be in
the market for a long time. He's
probably been investing now for more
than a decade. So he's just like in
there learning about it, like reading
like reports on companies and like just
doing the the whole like I'm going to
own the things that I wear. So instead
of like going and buying a new pair of
Nike shoes, I'm going to go invest in
Nike. And it's just it's brilliant. And
what has happened to him, I pray to
sweet baby Jesus that he just keeps
being steady Eddie and just keeps doing
his thing. Uh he also gives um like
educational opportunities to a lot of
people. I think it's in Georgia.
>> So, I mean, it's just really, really,
really incredible. So, anyway, you can
win at the individual level.
>> Uh, okay. I want to jump into the um
Eric Weinstein, Pierce Morgan, cuz going
back to kind of this is how we evolved.
I think he's talking about maybe a
mutation of that evolution where this
empathy is kind of going deranged.
>> Just explain to me what your overview is
about where we find ourselves post the
Charlie Kirk murder. I guess from my
perspective, it's been fairly clear to
me that we've been aggressively
normalizing revolutionary thinking and
we don't recognize it when we see it.
So, as a result, you have uh decided
that you've created people who I don't
really think exist. You might call them
the woke or progressives, but coming
from a relatively progressive left of
center family myself, we used to
recognize these people as
revolutionaries. and and you you'll see
them by their empathy. Their empathy is
entirely shifted. So, if you've seen any
of the interviews of random college
students asked about uh Charlie Kirk's
murder and they're smirking or they're
happy or they're making jokes.
>> Yeah. It's been really shocking.
>> What you're seeing is
>> Well, that's the odd part. It It's not
really shocking at all. You just don't
realize what you've been looking at.
Revolutionaries have a shift in empathy.
>> Okay. So, that's the part that I want
people to hear. Like throughout this
exchange, uh Eric is going to keep
saying I'm baffled by the fact that
you're baffled like what's happening.
>> Mhm.
>> Uh to really put a fine point in this
and and I am startled to see in the chat
that people are saying or at least a
person is saying that Eric is a [ __ ]
Jesus Christ. Uh please remember that
there is a big difference between
somebody being wrong about something. So
even if he is wrong about Assyria of
everything, that does not make him a
[ __ ] Uh so Eric is trying to get
people to understand that evolution has
given us modes of empathy. The way I
like to think about it is evolution had
to deal with the following problem. You
need to go from loving and protecting
your kid and feeling this warmth and
like oh my god I I couldn't imagine
anything bad ever happened to my child.
I would lay my life down for my child,
for my wife, uh for my tribe. I love
these people. You feel that like deep
sense of connection and joy and one I
mean it's really a beautiful feeling
that I think many people would say this
is why they say God is love. They feel
that okay that same creature that's like
God is love. I love this person. Uh
somebody comes into your village to try
to kill your people.
a switch flips in your brain and you
want to see their insides spilled all
over the floor
>> and you will literally take your own
hand and ram it into their eye until
their eyeball bursts. Uh, you will gut
them from head to toe. You will drag
their corpse around the streets. I mean,
this is what people do. What Eric is
saying is that is an innate part of the
human animal. M
>> and once somebody flips that switch and
goes they are the other. They will harm
the people that I love that they have
and they do have that God is love sense
of wonder. I would give anything for
these people. They have all of that for
their ingroup. So if you're looking for
them to look like a drooling maniac,
they're not going to. But they are going
to laugh when the other side dies. Think
about it in World War II. He's going to
talk about this. In fact, I will just
say that. remember World War II, we the
quote unquote good guys, uh, we were
writing things on our bombs that we were
dropping. We were not exactly loving and
kind to the Japanese or to the Germans.
So, that is revolutionary empathy. Let's
let my mans take it away.
>> They're at war. They're at war with the
system in which they embed.
and the the nurse is administering your
IV, the person making your coffee, the
um person at the DMV processing your
driver's license,
uh is someone who is often completely
unsympathetic with the society in which
you exist and who would ask for its
overthrow potentially with violence and
and and often violence is to be
celebrated. So, you know, there there's
language around this called direct
action. And I just have this feeling
that effectively Americans haven't been,
I don't know, in contact with
revolutionary thinking enough to
understand that it's an entirely shifted
empathy complex.
>> But is it almost worse than that? You
know, if they were genuine
revolutionaries,
then perhaps I would subscribe to that
theory. Um, I also think a lot of them
have been contaminated by the constant
refrain that uh Trump's Adolf Hitler,
that his supporters are Nazis, they're
all a bunch of fascists, that if you are
a bit of an unhinged young brain and you
keep hearing that repeatedly and you see
it all over your TikTok and everything
else, that eventually you sort of see it
almost as a civic duty to defend your
nation against these Nazis. I think
that's part of the problem. But I also
but I also felt with I come to that as
well in a moment. But
>> just on that point you make about
empathy
>> when I watch those clips these weren't
just like just young people being stupid
because you kind of you could kind of
explain that.
>> Here's the interesting thing here is and
Eric does push back on this is it's not
the dime is not dropping for peers and
in fairness I think that sometimes
Eric's language can be a little
ariodite. And so in my deep dive, in
fact, if we uh see the great irony, the
word ariodite is ariodite. It's uh it's
overly fancy. It's uh it's so high brow
that people are like, "What?" Um Eric
will often tweet something that makes me
think of something where I'm like, "Oo,
like if he means this, that's really
powerful." But I'm often like, "Did he
mean that?" So, uh, yeah, I I would love
to see Eric say things in a And look,
Eric needs to be Eric, so whatever. But,
uh, those messages, I'm glad sometimes
get brought down to a more colloquial
way of speaking. Uh, because sometimes
they're just a little too hard to single
gunshot. Yeah, if you get to the part
where I mention radical or um
revolutionary empathy, it's like it's
got its own section. Uh I now think I
was correct in what Eric was trying to
describe. So, originally in in the
piece, you're going to hear me say, I'm
not sure that I'm explaining correctly
what he means. Uh I think I am. All
right. So, here it is. This is from the
deep dive that I did on Monday, which
you guys should definitely watch, uh,
about Charlie Kirk, uh, and what Charlie
Kirk's assassination means more than
just the assassination itself. So, here
we go. This is part two. Revolutionary
empathy is deadly. Revolutionary
empathy, it's deadly. In 1789, France's
top 1% controlled nearly half the
wealth, while bread prices consumed
roughly 80% of the average worker's
wage. I hope that sounds distressingly
familiar. This unsustainable economic
position led to the French Revolution
during which guillotines were brought
out into the streets and the elites
found themselves being beheaded. Within
3 years of the French Revolution kicking
off, over 16,000 people had been
executed. The bad thing about blood lust
is that once it gets started, it is
nearly impossible to stop because it's
not about ideology or even problem
solving. It's about thinking emotionally
and being enraged and then riding the
wave of lunatic certainty that comes
along with that. That's why by 1794,
Robs Pierre, the guy who had originally
called for justice in the streets, was
himself dragged to the guillotine.
Violence stops being about a cause and
starts being the solution for anyone you
don't like. That is the loop. And that's
why the French Revolution didn't end in
equality. It ended in tyranny and
empire. Napoleon understood that blood
lust couldn't just be switched off. It
had to be refocused. And that's how he
rose from the bloodshed by channeling
France's revolutionary rage away from
itself and into 16 years of near
constant wars of conquest that killed
over 3 million people across Europe.
It's simply nothing to do with equality.
Once the masses get a taste for literal
blood, once they are reasoning
emotionally, they become a swarm of
locusts that will devour anything before
them. That's us, all of us. Nobody
escapes that. History is clear. When
economic despair fuses with envy and
ideology, violence is inevitable. It's
only a question of scale. Eric Weinstein
introduced me to a term he calls
revolutionary empathy. Now, honestly, I
don't know if he came up with that or if
I'm even using it in the way that he
intended it, but for me, those words
perfectly encapsulate what's happening
right now. And it's critical to
understanding this moment. If you want
to know how it's possible that someone
could justify murder or how people could
cheer it on, look no further than
revolutionary empathy. Evolution had to
come up with a solution for making sure
that humans could flip a switch in their
mind and go from loving and protecting
their own to the wholesale slaughter of
an invading group. This is the
anti-mpathy seen in times of war and
revolution. That's how you get Luigi
Manion and Tyler Robinson, two men with
disperate motivations being connected by
the same psychological virus. Both
believed in the absolute righteousness
of their cause. both believed the person
in front of them wasn't just wrong, they
were evil. And they both clicked over
into revolutionary empathy, making it
possible for them to pull the trigger.
This is how we kill, kill, kill. That's
what we're up against. So, I think that
Eric is right. I think that we have
flipped over into that. Some portion of
people have flipped over into that. I
certainly do not think it's anywhere
near universal, but when you think about
uh there are people in your friend group
that you already consider far left that
want to go even farther left. Uh when
you look at the people that were
cheering on Charlie Kirk's murder, when
you look at the people that meme to
death on the right uh when the Hortman's
were killed, it's like welcome to
revolutionary empathy. Wild.
>> Uh it's a sad sad day. And then as some
people are saying, you know, maybe we're
not there. We have time. You think of
like what happened over in the UK and
it's like these things are starting to
fester out in different directions.
>> This is rough. So this was on Yam Kapor,
which is the holiest day of the year
>> uh on the Jewish calendar. And a uh
they're calling it a um act of terror.
So I'll say the terror suspect
>> uh drove through like barricades or
whatever in his car, got out and started
stabbing people to death. And so I don't
know how many people died, though I
think I have that information.
>> Two people were killed and three are in
serious condition.
>> Okay. Um the suspect shot by police um
was who rushed to the scene after
witnesses of the attack on the holiest
day of the Jewish calendar. Um and then
the attacker is a British citizen of
Syrian descent
>> and his name is Jihad.
>> Like damn.
>> I mean that kind of brings me to the
snake eyes thing with Charlie Kirk that
I think we're getting too on the nose in
the simulation. I don't know who's he
just mailing it in. I don't know what's
happening.
>> Here here's the bad news. the uh oh god
I do not want to make light of this but
this is a true stat. There are more
artists named art than stats would tell
you. There are more dentists named
Dennis and Denise than statistics should
give you.
>> Uh so when you name your child Jihad,
don't be super shocked when they embrace
>> so many directions he can go. So, uh,
yeah, that that one is unwise.
>> Uh, yeah, that that's, uh, ridiculous.
Um,
it's it's one of these things where are
we just so caught up in this blood lust,
not meaning we're actually trying to we
don't desire to see violence, but we're
so caught up in our frame of reference
that we're now seeing every violent
attack and we're starting to pull these
things. Well, so you've got an
accumulation problem where this is how I
feel about why in the beginning I felt
like I really needed to bang the drum
about civil war and now every time I
mention it, I feel like super compelled
to end all of those videos with like,
okay, but here's the path back to the
middle. Here's the path to
reconciliation. Here's how you move
forward. Well,
>> um because the more people talk about
it, the more that gets normalized, the
more then, you know, we're all leaning
into it because we just expect to see
it.
to say this phrase for the millionth
time. Doesn't matter what you look at,
it matters what you see. And so if you
look out at the world and you're
expecting to see uh signs of a coming
civil war, signs of a revolution, you're
going to see them. You're going to see
them to a degree that is more than
what's actually there. Uh so this has
all begun stacking up in culture where
people now are expecting to see these
things, but it is based on something
very real. And you don't you you
literally don't have to go far
uh you don't have to go beyond a
spreadsheet at all to predict some of
the things that we're seeing right now
because these are economic in true
nature. They manifest as political
violence. But the reality under the hood
is that this is uh entirely based on you
put people in a desperate economic
situation and they're going to act some
kind of way. And that some kind of way
becomes so predictable that um countries
always tear themselves apart from
within. And they tear themselves apart
from within because they say my life is
not what it could be. There's massive
wealth inequality. So it's constantly
rubbed in my face that other people have
more than me. So even though we all the
poorest person right now has access to
better things than the wealthiest person
would have had access to. I mean even
just take antibiotics uh that they can
get for free emergency care. So it's
like you're
>> even if you're in grinding poverty today
in the west, you're in a much better
situation from a longevity standpoint
than a king would have been a thousand
years ago. So but we look at it and we
go no things like this is terrible
because I see the guy next to me has so
much more. And so humans are wired to
really hate that. Like really hate that.
So you've got all of that building up.
So wealth inequality basically tells you
where we're at on the I hate the other
person timeline. The fact that young
people can't buy the only asset that
they understand. The fact that all of
their solutions cause the government to
print money more, which makes the fact
that they can't own a house matter in
the first place.
>> And so you exacerbate it with the more
they try to solve for the government the
the world because they're unfortunately
blaming the wrong people. But they're
going to say, "The world has put me in a
terrible situation. I want the
government to give me more free stuff."
And the more free stuff the government
gives them, the worse their situation
becomes. But they don't understand the
cause and effect of it. So then you're
forced down a road of just totalitarian
violence, which by the way, this is all
predictable. It's very easy. I can look
like a genius simply by going, "Oh, this
is what the spreadsheet says." And I'll
have like, call it an 80% chance of
being right. And as long as I hedge my
bets by saying there's going to be some
level of violence, you just look like a
genius cuz thankfully I don't know how
violent it will get. I just knew that it
was going to get violent. So then as it
starts to get violent, people are like,
"Oh my god, Tom's been saying this for 2
years."
>> And it's like, "Yes, by looking at a
spreadsheet, the part that I want people
to hear is by looking at a spreadsheet,