WarRoom Battleground EP 837： Remembering The Fall Of Kabul; The Risk AI Is Impending On American Jobs
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Summary
The Department of Defense honors fallen heroes on the 4th anniversary of the attack at Abbey Gate on this day of Remembrance. On this day in 2014, 13 members of the United States Marine Corps lost their lives in a botched withdrawal attempt in Afghanistan.
Transcript
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state's marine corps sergeant joani rosario picardo was part of the marines female engagement
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team she was a native of lawrence massachusetts a 2014 graduate of lawrence high school and
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attended bridgewater state university she was full of light armed with valor and bravery
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who at the young age of 18 decided to raise her hand to serve her country as a member of
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the united states marine corps corporal umberto sanchez united states marine corps was a native of
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logan sport indiana 2017 graduate of logan sport high school he bravely answered the call to serve
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his nation he was honored to be putting on the marine uniform and serve his country
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staff sergeant ryan nos u.s army motivated young man who loved his country from knoxville tennessee
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he joined the army shortly after graduating high school he was part of the eighth psyops group and
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was looking forward to moving to dc upon his return home staff sergeant darren taylor hoover united states
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marine corps known as taylor former high school football player from midville utah he spent his
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entire adult life as a marine for the last 11 years his father said his son did what he loved was leading
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his men and his men and was with them to the end he loved the united states and proved it by his service
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sergeant nicole gee united states marine corps she was a marines marine loved helping people and she did it
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until the end she's a native of sacramento california lance corporal dylan marala united states marine corps
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from rancho cucamonga graduate of los osos high school had only been in afghanistan two weeks planned to study
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engineering in college after his military service his mom said he was kind loving and giving to every
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single person he gave he would give anything for anybody
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lance corporal kareem nikawi graduated from norco high school in 2019
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he loved what he was doing he always wanted to be a marine david lee espinosa united states marine corps laredo texas
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graduated from linden b johnson high school grew up in rio bravo
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corporal hunter lopez united states marine corps from riverside california
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california his parents are riverside turist deputies captain herman lopez and deputy alicia lopez
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he was a brave and selfless soldier who answered the call of duty
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riley mccullum united states marine corps graduated in 2019 from jackson hole high school
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he became a marine in 2020 he had always dreamed about being a marine and he was on his first
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first deployment corporal dagan william tyler page graduated from miller south high school
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in omaha nebraska joined the marines in 2019 he loved the brotherhood of the marines his parents
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said he was a genuinely happy guy that you could always count on
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and navy corps from berlin heights ohio graduated in 2017 from edison high school he was excited about
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the opportunities the navy would offer him and planned on making the navy a career
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this is the primal scream of a dying regime pray for our enemies because we're going to medieval on
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these people here's not got a free shot all these networks lying about the people the people have had
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a belly full of it i know you don't like hearing that i know you try to do everything in the world
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to stop that but you're not going to stop it it's going to happen and where do people like that go
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to share the big line mega media i wish in my soul i wish that any of these people had a conscience
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ask yourself what is my task and what is my purpose if that answer is to save my country
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this country will be saved war room here's your host stephen k ban
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all right everyone uh welcome to the war room this in from the department of defense honors fallen
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heroes on the fourth anniversary of the abbey gate attack i think you all recognize that voice
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on this day of remembrance i hope you will all take a pause uh bow your head say a prayer to god in in
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thankfulness uh to the great souls the 13 souls we lost uh their physical lives down here but they
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served their country with honor and so we're very thankful to them and to the pain their families
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have gone through uh we hold them uh in in our memory today and so uh mo bannon uh no no better person
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to uh help us in this day of remembrance uh mo uh give us your uh your comments on this on this day
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thank you dave for having me and like you said we should remember the 13 souls lost
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you know back four years ago it was a botched withdrawal and these 13 were murdered at abbey gate
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and there were at least 20 to 28 wounded at on that day four years ago and they have to live with the
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injuries they sustained every day for the rest of their lives and those 13 service members families
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have to live with the loss of that service member and not being able to have grandchildren or spend
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the rest of their lives with their children and their lives were cut so short a lot of those service
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members were 20 21 years old some even 19 and and they lost out on their future and i know that president
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trump is doing his part in holding the people for that those 13 murders accountable you know in march
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he arrested the isis k member known as jafar that was responsible for the planning of these attacks
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however why four years later have general milley and general austin not been held accountable for their
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parts and what happened this was a botched withdrawal and i know a lot of people say you know we were
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there 20 years we could have gotten out sooner and there were four different presidents that could
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have gotten us out but it came down to joe biden and he did the withdrawal in the worst manner possible
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i was part of the withdrawal out of iraq and it wasn't perfect but we had no souls lost during that
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withdrawal out of iraq and it is absolutely disgusting that those responsible for what
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happened have not been held accountable four years later yeah mo well we were chatting a bit about that
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before you came on and say a little bit more about that you're on an important board up there now
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uh with the military uh president trump we we see there's a lot of turnover going uh on in dod under
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hegseth and others state department uh you know it's too bad that the sharks raised rise to the top in
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these bureaucracies how how we let that happen uh but it was all too familiar uh do you get a sense
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so we're turning the ship around uh and that we got good ethical people uh that are there are patriots that
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care about these troops uh and and the you know so we don't lose uh trump really seems to emphasize
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that in all of his talks on the war he hates seeing the lost uh young men and women on the battlefield
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and uh i buy it and so like is there uh room for optimism and hope that we got better people coming
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in now i think so dave i think that we are turning the ship around i think president trump is doing a
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good job however i think that he needs to hold i think he needs to bring general mark milley and
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general lloyd austin back on active duty and court martial them and hold them accountable for what
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happened on august 26 2021 i think that with hegseth the secretary of defense we were doing a great job
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in turning things around i think that he is focused on war fighting and not what the last administration
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was focused on gender theory pronoun training we're actually focusing on getting back to what we
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should be focused on god forbid we get into another war um but i think that we are starting to turn the
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ship around i think it's going to take time but i think that president trump needs to hold those people
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accountable for what happened in 2021 because i get withdrawing from afghanistan what bothers me to my
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core is the way it was done those 13 service members should still be here today those 28 that were
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wounded should still have all of their limbs should not having not have to be dealing with wounds
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physical and invisible for the rest of their lives we shouldn't also have service members committing
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suicide every day because of what they went through that is not okay we need to show these families
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that lost service members that we are holding the people responsible accountable and i i think that
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when president trump does that then we will fully turn the ship around and i also want to address
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president trump does do a good job of honoring those service members lost joe biden did not when they
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had their dignified transfers when their remains came off the aircraft in the the cases that they were
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transferred in to the funeral homes they joe biden looked at his watch every time a service member
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came off the plane that is completely disrespectful they deserve better from their commander in chief
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so i think that once those leaders all of them that were responsible for this botched withdrawal
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are held accountable we will fully be turned have turned the ship around
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yeah very well said uh moe bannon and steve bannon uh have been doing the call if we don't get
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accountability across the board not only here at abbey gate but with russia gate uh and the coup d'etat
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looks like the 2020 uh election evidence is coming in by the day as well uh the cia the fbi uh we'll lose
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our country right we will lose this country if we do not hold these people accountable because it will
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happen all again in in short order uh and everybody will know there are new rules of the game but uh
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right now we're winning we're on the offense uh thanks to you and and your dad and uh so moe
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thanks for being on today and god bless you and thanks or for bringing your voice uh to bear for the
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families uh and the pain and these great patriots who gave everything for their country god bless you
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thank you moe thank you for having me on dave and like you said take a little time today to remember
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those 13 lost in the those service members families i've had the honor of getting to know
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a few of their families over the last four years so please think about their families today as well
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oh man you got it thank you moe see you soon all right folks so we're going to artificial
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intelligence uh a little bit different take on things today we've got sam hammond coming on uh
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he's expert on ai in the china race and so sam uh welcome on the show and uh why don't you just tee
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us up uh everybody knows about the uh you know the economic competition and later in the show i'm going
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to go into a little bit uh the war between uh the race to uh get the alliance right a rapprochement
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with russia hopefully of some sort india uh is leaning over to the china camp a little bit right
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now so all this matters what what are the real trade-offs that are most important that you see
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uh it appears china has us has some leverage on the on the rare earth and all that and so when it
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comes to the ai and the chips uh are we making the right choices going forward and what's it look like
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in the next few years no thanks for having me on dave yeah so with ai i mean the race is on um
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you know this this year so far data center build us has comprised two percent or two two quarters of
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us gdp uh we've been spending more on data centers this year than we have on all consumer spending
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so you can see the infrastructure build out is underway and this is because ultimately these ai systems
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require only a handful of inputs they require the data the training data they require the energy and
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they require the hardware these data centers these chips and on data and energy china has us beat or
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or at least a parity right so they added 400 gigawatts of energy to their grid last year ours is flat
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lined you know the trump administration is making valiant efforts to try to break that gridlock and put
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more energy on the grid but fundamentally our advantage comes down these chips and the question is who
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gets them right because these systems are going to get increasingly powerful over the coming years
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and every chip that we export to china or abroad is essentially exporting a labor it's exporting a
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future genius that we could use in our own country yeah very good uh when it comes to this uh
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tech race also uh on the show you know there's kind of mega world and then there's the tech bros
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uh and as an economist i i do not like monopolies and it appears we got about you know the magnificent
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seven monopolies at a minimum and there's big everything in the air right now right there's big
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government uh big health care big banking big federal reserve big green energy big tech as an economist
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uh how do you tell us what you're seeing in your crystal ball uh can can we have a uh detente and
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a peace between the mega and the tech bros is there a is there a way of having a conservative
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uh ai race with china that serves the american worker
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i i hope so i mean there's different pieces of this you know if you think about how google got so
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big it did it by monopolizing ad revenue and sucking up all the revenue that they're going to
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small newspapers and so on and so forth and i i do worry that ai uh especially you know artificial
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general intelligence this thing that the companies are all racing towards essentially an ai system
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that could do anything a human can do you know once you've crossed that threshold you become the
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everything company and suck up a whole cross-section of the of the us economy and we need to watch out
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for that kind of power concentration risk but by the same token the first country that gets to that
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point could also have an equally you know geopolitical uh scale advantage and this is where i think some
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of the lessons of mega have not fully penetrated with the tech community you know we saw during
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the inauguration all the leading big tech founders uh in the rotunda with trump you know there was one
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notable exception namely jensen wong the ceo of nvidia the company that has a 90 plus monopoly on
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the production design of these chips uh he was in beijing and he was in beijing several more times this year
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um he was recently interviewed in beijing and said you know uh i am chinese and then i became american chinese
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and so he's really been playing both sides of the uh the race in this context um and there's also some
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risk that china may have leverage over the company um you know in their most recent 10k which is an sec
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disclosure they they note that uh if they comply with us export controls in other words if they
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follow the law and not sell china these most advanced chips that they could be subject to
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retaliation by the chinese government right very good sam uh tell me this one economics is you know
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often called the dismal science uh for a good reason back during the dot-com uh probably the most
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famous uh economist on productivity bob gordon out at northwestern university right not not a mega guy
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but everyone around him you know these cell phones were going to transform productivity and make
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us all better workers uh and he he famously or robert solo or a couple of guys said uh they said
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don't you don't you see uh technology everywhere and he said yeah i see it everywhere except in the data
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and so this week at mit paper came out uh and it said you know 95 percent of firms have not embedded
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generative ai yet uh into their firm uh behavior you know everyday uh business activities uh what do you
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you know what do you i i think ai is way more promising so i'm not a i'm not a luddite uh but at the
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same time it was it's a pretty fascinating paper outcome what's your take on that sam yeah it's very
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early right so these systems sort of yeah cross reliability thresholds and and before then sort
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of like self-driving until self-driving was is safer than humans but you know 100x safer than humans we're
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not going to get autonomous cars on all the roads um and similar in a lot of these other contexts you
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know but what i worry about is you know we've got over a trillion dollars of capex going out into these
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data centers you mentioned the mag 7 it's it's really these six or seven companies are driving all the
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stock market returns over the last year or so uh yeah we're balancing a huge part of the economy on
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these systems and so there has to be a payoff at some point you know what i i kind of worry about
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from an economic point of view is once you've crossed over into this threshold of systems that are
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superior than humans in every possible way that includes superior in the ability to design better ai
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systems and you could get this feedback loop where the company that is even a few months in the lead
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ends up pulling ahead from the rest um and sort of like the like my google example or like the amazon
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warehouse effect it becomes the everything thing the everything company um and then we got a real
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problem on our hands uh you know i think the the goal should not just be a pro worker uh agenda for ai
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but also one that distributes power you know distributes it to not just workers but also smaller
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businesses uh little tech right right so the other other players have a have a have a stake in this
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you mean federalism and the free market system what what a novel idea that's it's good you're in
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with adam smith and the greats i think we got a mini cold open for you sam uh denver why don't you
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roll that and we'll react for a minute okay uh first of all i'm chinese and then i became an american chinese
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no no no it's a crane he's working doing his job and and um and i'm in the air
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sam why don't you give us your reaction to that and give us some closing comments on where we stand
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with all this yeah you know that was jensen wong ceo of nvidia um you know a decade ago nvidia was known
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for building the best computer chips for playing video games right and when you're playing video
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games you know uh everything you know the world's your oyster do whatever you want um but now these
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chips have become you're functionally dual use right the the same chips are being powered for your your
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chatbot for your ai therapist are also being used to surveil my christian minorities in china to build
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their uh their the stuff that they export to autocracies around the world um to power their
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autonomous weapons systems and he has yet to get to with the program uh you know you saw him there
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say i am chinese and then i became american chinese not chinese american mind you uh i think i think that
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was quite intentional um and it really says something about the the dual loyalties or at least the lack of
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american patriotism that some of these globalized tech companies have yet to incorporate
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yeah sam uh thanks for being with us we got brad thayer coming up next and we're going to get in
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into that relationship on these shared values and you know i saw you uh mason grad and i got a bunch of
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libertarian friends and i i as bannon will tell you i have chicago libertarian tendencies uh but this china
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thing the idea that you can trade with a communist totalitarian system that doesn't use the price system
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right i mean it's it's hard i i know it's trade yeah but it ain't free trade and so uh i'll get you
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back next uh on that one and uh thanks for being with us sam great job thank you you bet you bet all
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right hey folks i'm gonna give some thanks to uh our one of our great sponsors birch gold uh is the
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00:23:07.040
we got a few minutes left in this uh in this block uh bradley uh and so uh brad are you there
00:23:14.720
there there he is hey brad why don't you uh you just heard the a ai and the china piece uh and
00:23:22.240
there's interesting news you know last few weeks uh india you know feels aggrieved over the tariffs
00:23:28.720
uh and uh they're making noise they're they don't want to acknowledge the the tough love part right
00:23:34.320
they got a trade deficit problem uh they have a tariff a non-tariff barrier problem uh with us uh
00:23:42.160
they've got an oil problem subsidizing russia with us and they say we're you know we're not
00:23:47.920
being good friends and whatever and then if you're that way to us we're going to go with china
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and so what catch us up on this and uh you know russia what what's going on there you know steve's
00:23:59.680
always calling for a rapprochement we don't we don't trust putin uh but it's much better to have
00:24:04.880
them on our side than on china's side so get us up to speed bradley and thanks for being with us
00:24:09.200
no dave great to join you and and thanks uh to steve in the earlier show and then for you having
00:24:15.120
moan to remember uh the 13 gold star families and those who are lost and um uh the uh withdrawal um
00:24:23.440
by disastrous withdrawal from afghanistan happy to uh dave um there's uh really if you have if you
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recognize there's a kind of a triangular relationship going on between russia india and china uh with the
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united states playing if you will the meta role obviously because the u.s is still the dominant
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power uh in international politics and that we have the most military power uh in international
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politics and that's the coin of the realm uh when we're looking at that so a couple of points uh to
00:24:58.240
begin dave uh first uh tomorrow august 27th tariffs are going to be imposed on india uh there are some
00:25:06.560
important exceptions to those tariffs but they're basically going to be 25 percent to 50 percent
00:25:11.600
tariffs on indian exports into the u.s that's going to hurt the indian economy greatly um and about one
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fifth almost one fifth of indian exports go to the u.s so you can see the there's going to be a blow
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uh that the indians uh are going to uh incur and so that has upset modi uh with uh the u.s but i i think
00:25:35.120
that's just a hiccup uh in the relationship dave and and i'll explain why even though there's been
00:25:42.320
secondly a relaxation intentions between um china and india there are still really deep profound problems
00:25:51.760
uh an intense security competition between china and india and that's not going away anytime soon
00:25:59.120
so india still uh wants to have a good security relationship with the united states uh despite
00:26:08.400
uh the tariffs issue and that's because china is a major threat the major military threat uh to india
00:26:18.160
and we want to keep in mind that china also backs pakistan and pakistan and india if you remember
00:26:25.040
dave in april and may of this year had a clash a pretty sharp clash which president trump de-escalated
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uh which had he not it might have escalated into a conventional war or heaven forbid
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uh a nuclear exchange between those countries so china is the threat uh to india directly as well as
00:26:45.040
to its proxy uh pakistan bradley let me stop you right there we're going to come back to you uh
00:26:51.360
great analysis those last points were very significant uh stay tuned for bradley thayer in the war room
00:27:01.120
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1-800-958-1000 that's 800-958-1000 or visit tax network usa tnusa.com slash bannon do it today do
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not let this thing get ahead of you do it today still america's voice family are you on getter yet no
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critical financial research every month war room listeners know jim records as our wise man a former
00:32:03.280
cia pentagon and white house advisor with unmatched grasp of geopolitics and capital markets jim predicted
00:32:11.440
trump's electoral college victory exactly 3 12 to 226 now he's issuing a dire warning about a moment
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recordswarroom.com now and claim your free book that's recordswarroom.com please support jim uh he
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does a great job on the war room and uh we're always indebted to have him i'm going to go through a few
00:32:59.760
charts real quick uh none of these are going to be perfect uh but they're going to lay a foundation i'm
00:33:04.800
going to get to a story coming up from zero hedge uh europe's new war economy from green collapse to
00:33:12.640
military keynesianism and uh bradley thayer's coming right up uh after these charts uh big i i wanted to
00:33:19.760
show these because they they uh have something to say about china's economy too right uh the european
00:33:27.280
economies as you'll see in these charts are very slow growing uh you know you can lie with a statistics
00:33:33.120
lie and charts lie i tried to be very fair uh in the next few charts just to give an overview uh but
00:33:40.000
roughly speaking this keynesianism uh you know it's uh it's a solution for every economic crisis
00:33:47.760
uh the condensed version would go something like this nearly every recession stems from a demand
00:33:54.080
shortfall by consumers the state's job therefore is to create artificial credit to fill this demand gap
00:34:01.360
uh think of the u.s in 08 lower interest rates print credit so the fairy tale goes the economy takes
00:34:08.160
off in reality what remains is a mountain of state debt a swelling bureaucracy distorted financial markets
00:34:14.400
and declining productivity and that's what i want to highlight in these next few uh charts uh the demand
00:34:22.160
side of keynesianism versus the uh supply side uh of the of the war room and president trump uh so uh you
00:34:30.880
know here's uk economy forecasts uh for 2023 and 2024 you're up at the top uk is uh forecast to shrink
00:34:40.080
in 2023 german growth anemic uh russia uh middling there stronger than the euros italy small growth france low
00:34:50.880
growth the u.s a bit better uh canada okay there uh and china growing uh and that's uh i'm going to
00:34:58.400
get with thayer on this next chart uh denver just uh real quick uh you know here's india up at the
00:35:04.320
top the oecd those are the rich countries economic growth gdp forecast for 2024 india indonesia
00:35:10.800
china turkey yet and then down at the bottom you see again the the europeans france italy japan uk
00:35:18.320
isa germany with zero growth they've made all the wrong decisions they went green they went all green
00:35:25.040
and the polling data in germany the people are still happy two-thirds of germans still saying
00:35:29.040
we're happy with this green stuff and the germans are known for uh human reason and rationality and
00:35:35.360
how they let that happen i i have no idea and now they're going to go from that green economy to a
00:35:40.880
war economy and so uh the u.s we got to be very careful too uh in our interpretation of what's
00:35:47.360
going on with our economy uh president trump is doing everything right the tariffs he's realigning
00:35:52.880
geopolitics he's getting capital investment on the supply side which causes economic growth
00:35:58.960
but that takes a year year and a half so we're very much still in a biden economy uh we're living off
00:36:05.200
his lag and let me show you what that looks like that next chart denver uh you know this is from bob
00:36:10.800
gordon i mentioned he's the the guru on uh long-run uh productivity uh here's one of his charts shows
00:36:17.680
the last 70 years looked at the far left labor productivity growth uh is in the dark green and then
00:36:23.920
real hourly wages uh go right along with it with a productivity right so you want to know why wages are
00:36:30.160
down it's because productivity's down so it used to be four or five six percent and then in the middle
00:36:35.440
of the chart you know 20 30 years ago is at three or four percent and now we're at two percent the long
00:36:40.960
run term is two percent and trump's got to dig our way out of that trend uh the next chart uh denver
00:36:47.600
i'm just putting all this up this is out there brad economics on getter but that last number on the
00:36:53.120
far right 1.7 percent is the forecast uh from our our government statistics uh long-run you know
00:37:01.360
macroeconomic models for the next 30 years uh and this wasn't you know one off from a biden uh you
00:37:07.760
know report or whatever this has been the long-range forecast uh zooming in at two percent and uh so we
00:37:14.640
have a lot uh a lot of work to get out of that mess uh that's been left by the keynesian economists
00:37:21.200
uh who run the the federal reserve and our u.s government last couple charts uh denver next one
00:37:27.040
uh why are we in this position uh you just heard an economist on ai and uh the debt right there's
00:37:36.960
our debt position 37 trillion and we're adding another 20 trillion if you listen to cbo over the
00:37:42.740
next 10 years so we'll be at about 60 trillion uh that's wasted resources president trump as a business
00:37:49.600
guy is horrified by wasting resources we have a seven trillion dollar government budget two trillion
00:37:57.760
dollars of that are deficit financed we're ripping off the kids we're spending their money on green
00:38:03.440
stuff and the kids are going to have to pay it back and so the debt is a major uh cause of
00:38:10.160
inefficiency low productivity we got to shove that back into the private sector uh last chart or two uh
00:38:17.360
denver uh that i just showed since 18 all the net new jobs went to foreign-born workers trump has
00:38:23.840
already turned that around on a dime so that's some good news uh coming at you last chart i think denver
00:38:30.240
might have one more i just want to go to bradley thayer now uh and ask him for his uh you know crystal
00:38:37.280
ball on china china is very similar to europe right they they have a demographic problem they've got a a a
00:38:45.360
a resource allocation problem with ghost cities but boy are they they're smart they're clever they
00:38:52.480
can move uh money they steal from their workers and shove it into capital they have military bases all
00:39:00.160
over the world uh billions and billions of billions and i i don't think that can last for too much longer
00:39:06.880
but uh bradley a lot hinges on our answer to that question uh how productive do you think the chinese
00:39:14.480
economy still is they're saying five percent growth still uh i don't buy it uh but what what's your
00:39:21.200
analysis showing well dave when you when the chinese talk about their own economy they're communists
00:39:27.680
right so they're going to lie uh and you want to remember the mary mccarthy rule when she dismissed
00:39:33.120
lillian hellman's right every word that she wrote was a lie including and and the right so every word
00:39:39.520
that the chinese say about their economy is a lie including and and the um you want to keep in mind
00:39:46.080
that we're talking about these numbers uh they're going to be manufactured and that that the chinese
00:39:52.400
being ruled by a communist party of course are doing their utmost to inflate them and to convey to
00:39:59.120
the world as well as to the chinese people that everything is okay when in fact everything is not okay
00:40:04.320
okay and it's not okay because structurally they're ruled by a communist uh party uh so communists have
00:40:12.880
never been able to effectively run an economy anywhere just reverse they run it into the ground
00:40:19.040
we always want to keep that in mind in addition there are other profound problems that they have in
00:40:24.720
their real estate market uh they have still profound uh corruption they have profound uh problems in their
00:40:31.920
banking uh obviously in finance and then of course in exports as well so uh the chinese are in an
00:40:39.360
the prc is in economic doldrums and they're not getting out of it anytime soon so next week
00:40:45.440
when modi for example is going to be in china for the shanghai cooperation organization meeting
00:40:52.000
very important summit uh putin will be there as well uh xi jinping is going to do his utmost
00:40:58.480
uh to hype uh the relationship uh the relationship that he has with india and the relationship that
00:41:04.240
he has with uh russia and the rest of the world but in fact that's grossly inflated and particularly
00:41:11.280
with modi right who um again as we were talking about earlier has the profound problems uh security
00:41:19.520
problems and intense security competition with uh the people's republic uh of china the greatest threat to
00:41:26.880
new delhi is uh beijing and xi jinping's rule and modi knows that when he pays his first visit in seven
00:41:34.080
years uh to um uh to the uh prc um and it's still fresh in indian minds the clashes that they had in 20
00:41:43.920
and 21 the border clashes uh between the prc uh and india so the chinese economies and the doldrums
00:41:52.320
uh xi jinping does not have an answer to it all right so uh much depends of course on what president
00:41:58.800
trump chooses to do with uh the tariffs uh that he might impose uh on china greater levels of tariffs
00:42:06.640
of course um and so we'll have to see with respect uh to that but uh there's no no escape really for
00:42:14.640
uh the uh the chinese economy at the same time that doesn't keep them from spending money on defense
00:42:19.920
right they've announced this year they're further increasing defense funding defense spending and
00:42:25.440
we've seen tremendous growth what leader for uh leaders of uh strategic command have termed
00:42:32.320
breathtaking expansions in their nuclear uh capabilities as well as their conventional
00:42:38.640
capabilities as well as their aggression in the south china sea against the philippines
00:42:43.600
uh that we're witnessing uh almost on a daily basis uh so it's uh the regime is in trouble and uh
00:42:52.880
that um uh obviously um is a cause of great concern in taiwan among our allies in japan and
00:42:59.840
the philippines and of course for the trump administration yeah i was gonna ask you about
00:43:05.920
that the you know the chinese and the uh the south china sea they draw these dashes around what they
00:43:12.160
say is their own uh right to the waterway and it's basically all of it there there's no buffer it's
00:43:18.320
supposed to be 200 miles off the coast or whatever there's no buffer for japan or for the philippines
00:43:24.480
or any of the neighboring countries they have no rights to the waterway at all given the chinese
00:43:28.320
lines that they've drawn uh and then you know the the chinese are building up a fairly significant blue
00:43:34.480
water navy uh there's news clips of them driving our you know our boats or our allied boats you know
00:43:41.200
off with water cannon uh that are just shocking uh and then they have the equivalent of aircraft
00:43:47.520
carriers on all those islands in the middle of the south china sea where they're making claims
00:43:53.120
and the tens of billions i i don't know where they're that's what the problem is i cannot figure
00:43:58.880
it out because that it looks like the belt and road it has taken a hit uh but they are still
00:44:05.600
embedding billions throughout africa and and and strategic uh you know friendships with other
00:44:11.680
countries uh they're not friendly their tone is never friendly it's just strategic uh but you know
00:44:17.520
what's your best guess as to are they running do you see the belt and road initiative losing steam can
00:44:25.040
you see that in a relative sense uh from your analysis yeah it already has i i think that we want to
00:44:32.880
keep in mind when we're thinking about communist china we want to keep in mind that xi jinping has
00:44:38.160
priorities his priority is first his own survival and his continuation of his uh rule secondly the
00:44:44.480
rule of the party uh has to continue uh that's absolutely essential and then thirdly there are going
00:44:51.200
to be maybe desirable goals like the continued uh that there's uh the military has to be of course uh
00:44:58.400
supported uh and uh the security services have to be supported and we move beyond that there are going
00:45:04.480
to be desirable uh goals perhaps uh like prosperity or resources that they can devote to other countries
00:45:13.680
but the belt and road initiative of course is dependent upon not only the economic element day but also
00:45:20.400
the strategic elements so the belt and road initiative advances china's the prc strategic goals as well
00:45:27.600
as of course their economic uh uh partially but the economic is definitely secondary to the idea of
00:45:34.320
gaining influence in countries around the world from africa to polynesia uh for example europe uh south
00:45:42.560
america uh etc but nothing is going to stop their aggression right i think we want to keep that in mind
00:45:49.600
that we're dealing with this hyper aggressive state and as long as xi jinping is in control of it and the
00:45:55.760
party is in control we're going to see that next week they're going to have a major military parade
00:46:02.320
on september 3rd um the day after the 80th uh anniversary of the end of world war ii and that
00:46:09.760
military parade is significant for a couple of reasons first it's an important signal right about china's
00:46:16.960
the prc's military capabilities right what the prc has and what it's developing and that's a warning to
00:46:24.080
the u.s taiwan the philippines and india uh as well the parade also is there to shore up his rule right
00:46:32.720
to show that uh he's in charge xi jinping is in charge of this uh major military force uh and um
00:46:40.960
it's to to convey to the uh chinese people that the party is still is in control and xi jinping
00:46:48.480
despite a bunch of rumors is still in control uh of um the uh uh the prc so next week is going
00:46:56.240
to be a very important week dave uh with respect to first the shanghai cooperation organization
00:47:01.680
meeting then the 80th anniversary of the end of world war ii uh you know the the surrender document
00:47:09.040
signed on the deck of the missouri and then of course xi jinping's military parade which is a
00:47:14.720
political weapon right he's using that to convey a message uh to the rest of the world and to uh the
00:47:21.040
chinese people so a very important week um from uh uh the standpoint of geopolitics it's important to
00:47:29.440
note also finally dave that modi will not be at that parade but vladimir putin will be uh at uh the
00:47:37.360
the uh the military parade in beijing next week yeah let me uh let me uh i was using this article
00:47:45.680
from zero hedge just outstanding article everyone ought to look it up yeah europe's new war economy
00:47:51.360
from green collapse to military keynesianism when i linked it to the growth the growth stats of europe
00:47:57.840
are all down in the in the doldrums as you're saying uh where i would think china's would be as well
00:48:03.600
and then they they conclude uh the article having failed with the green deal europe's politicians are
00:48:09.280
now trying a new pseudo economy a debt-fueled military industrial complex according to a study
00:48:15.920
by ernst and young germany's dax companies cut 30 000 jobs the first half of 25 except for defense
00:48:22.240
contractors which went up by about 17 percent uh the eu's plan by 2035 the eu europe european plan by 2035
00:48:32.400
half of european defense goods uh from artillery cyber defense precision munitions will be produced
00:48:38.080
within their block creating 6 60 000 jobs uh but of course there's no sector that produces further
00:48:45.680
away from the real consumer demand than the arms industry right and this is what i don't get about
00:48:51.440
china either it's so distorted right this the the i'll close with their uh this is keynesian pseudo
00:48:58.560
economics in its most extreme form buying time with debt and i'm bringing this up as a warning
00:49:05.120
shout to united states here too right buying time with debt while starving the private capital markets
00:49:11.360
on this uh defense strategy now so they're going from the green to defense uh and this uh
00:49:18.240
uk and france are making more war noises than anybody over there but they're going broke doing it
00:49:24.640
and uh so what how do you read it going forward bradley over the next few years how does this play out
00:49:31.360
with us russia europe china india well we're going to see of course uh dave is going to be much more
00:49:40.800
security competition uh in uh that relationship but president trump is doing his utmost to ensure
00:49:48.080
that uh the focus um the major security concern that the u.s has is uh the chinese communist party
00:49:56.000
right xi jinping's rule of the ccp and in the people's republic of china so president trump is doing
00:50:02.400
his utmost to end the war in ukraine which is uh absolutely essential so that you can have a greatly
00:50:08.480
improved relationship with russia with a greatly improved relationship in russia you then can enlist to a
00:50:16.720
a degree russian help uh in dealing with um the threat uh from the prc that's giving the prc a
00:50:24.560
northern flank right so we always want the prc to have a multiple war front problem multiple uh um uh
00:50:31.520
fronts uh that they have to address uh because their relationship with russia has been very good
00:50:38.240
during the war with russia's war with ukraine uh that front has disappeared president trump wants to
00:50:44.720
reinstore that and to ensure that the u.s and russia working together uh within certainly boundaries um
00:50:53.680
putin is a wily fellow of course we want to always recognize that and russia will probably never be an
00:50:59.200
ally of the u.s again but it may be a great partner uh in dealing with our mutual threat and that is um the
00:51:08.480
prc so there's hope obviously for much improved relationship with russia and then with india as
00:51:15.200
well similarly threatened uh by the prc and the hiccup of the um tariffs are going to be attenuated uh
00:51:24.320
dave you know markets adjust right so uh the market will adjust uh and india and the u.s can get over
00:51:32.720
uh the trouble of uh the tariffs uh to deal with the mutual threat uh that they face so there can be
00:51:40.640
there's the great potential that president trump can achieve uh and i think will achieve of a great
00:51:46.400
security relation greatly improved security relationship with russia of course india already
00:51:51.920
is a partner in the quad yeah uh and that relationship will continue and deepen and then
00:51:57.920
other allies that we have like japan uh for example in the philippines bradley thayer thank you so much
00:52:04.000
bradley putting out a clinic today in the war room uh everybody spread the good word what if he had the
00:52:09.760
brightest mind in the war room delivering critical financial research every month steve bannon here
00:52:16.240
war room listeners know jim rickards i love this guy he's our wise man a former cia pentagon and white
00:52:22.320
house advisor with an unmatched grasp of geopolitics and capital markets jim predicted
00:52:27.760
trump's electoral college victory exactly 312 to 226 down to the actual number itself
00:52:36.480
now he's issuing a dire warning about april 11th a moment that could define trump's presidency
00:52:42.320
in your financial future his latest book money gpt exposes how ai is setting the stage for financial
00:52:49.360
chaos bank runs at lightning speeds algorithm driven crashes and even threats to national security
00:52:55.680
right now war room members get a free copy of money gpt when they sign up for strategic
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intelligence this is jim's flagship financial newsletter strategic intelligence i read it
00:53:08.160
you should read it time is running out go to rickardswarroom.com that's all one word rickards
00:53:13.360
war room rickards with an s go now and claim your free book that's rickardswarroom.com do it today