Episode 3077 - The Scott Adams School 01⧸21⧸26
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Summary
In this episode of Coffee with scott and scott, we have a guest with us today from our local subscriber family, bob Lawler. We talk about Trump's speech in Davos and the mental health of white liberals.
Transcript
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logging in we're logging in welcome in you guys up there you guys all are i see you i have all
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four of you you guys come on in we see you we see locals and youtube the x people come on x come on
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in rumble studio maybe some people are on spotify i'm not sure but the youtubers come on in and the
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beloveds so you guys uh we're getting ready just letting you guys pile on in um we're going to talk
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about it later but i'm feeling a little extra tingly today after hearing donald trump speaking
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in davos this morning that's all i'm gonna say about that but how are you guys doing marcella
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sergio oh you guys wait hello what kind of a hostess am i we have a guest with us today
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from our local subscriber family it's bob lawler there he is he's gonna talk to us after yeah
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he's gonna talk to us after the simultaneous sip okay guys let's get ready uh i hope we gave you
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guys enough time to pop in um we're gonna play another clip from scott and guess what tomorrow
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we're gonna have his clip posted right on the screen like professionals so it'll this will be
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the last day with the ipad i know you're sorry to hear that okay let me just make this darker
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all right guys i hope you can hear it just give me a thumbs up and let me know it's okay ready
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oh good morning everybody and welcome to the highlight of human civilization
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it's called coffee with scott ems and it's the best thing that's ever had act if you'd like to take
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it up to the levels that only the psychics could imagine well all you need is a cup of mugger glass
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so take your chelsea style a cantine jug or flask of desolate and a guy fill it with your favorite
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liquid i like coffee and join me now parallel pleasure to the dope media the thing that makes
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everything better is called simulatia sip and it happens now go
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double sip double sip i'm calling double sip everybody
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double off double off so good i just thought you needed a little extra didn't you didn't you need a
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little extra yeah i think you did yeah this is a little that gives you a little extra
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well i saw a tweet from a twitter account called the rabbit hole uh that showed that white liberals
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have the worst mental health at least as judged by people who went to try to get help now what do
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you suppose that would be well what do you think would cause that what would possibly cause the white
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liberals to have the worst mental health what would it what what would there be some possible
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hypothetical hypotheses i don't know i can't think of anything can you
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can't think of a thing well let's uh speculate though
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um here are some differences uh liberal whites uh believe the news
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would you agree liberal whites are most likely to believe the news
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i assume it's my live stream you know not to believe the news
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is there anybody here who is willing to say they believe the news go
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anybody just one person okay we got a yes somebody said yes they believe the news over on youtube
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well i wouldn't admit it i mean it's fine to believe whatever you want but just my advice
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i wouldn't admit that you believe the news in 2023 that's not really a good look
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um so imagine if you believe the news you think that the climate is going to fry you waste
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supremacists or behind the furniture uh there was a coup attempt recently you would believe
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and uh that trump is a putin's fluffer trump is putin's fluffer if you believe the news
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um but conservatives are less likely to believe the news they tend to believe in stuff like
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hard work and family and obeying laws and and if and if all of that goes wrong
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um if you're conservative and you do everything right you obey the laws stay off drugs stay in
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school you don't get married to a good mate and have kids if you do everything right and it still
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doesn't work out you still got a backup heaven well at least it'll be better later right it might be
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terrible now but wait till later wow yeah i did everything right so i'm going to heaven so you
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got one group of people who think they're gonna you know rotten the earth uh immediately after the
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climate fries them and the white supremacists murder them and the coup takes over the united states and
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turns this into whatever and one group thinks that they have a perfectly good plan for happiness in this
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world but if that didn't work out they've got a second perfectly good plan for an eternity of happiness
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what would you expect what would you expect would be the mental health outcome of those two systems
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design is destiny you have two systems and they're designed for exactly the outcome that they delivered
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the conservatives design the system that delivers happiness most of the time and the left has designed
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the system that almost can't almost can't i saw that okay i felt like that was just a great one for
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today and where we are and um i just want to welcome everyone in again i'm erica we have marcella beautiful
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marcella our sexy sergio in the house our special guest bob lawler today and the voice of owen gregorian
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so i'll let you guys say hi and take it away you guys want to say hello to everybody
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hi hi hi hi everybody hello everybody i just want to say something a little bit uh um uh yesterday i i
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asked that we are internet orphans and um and i just wanted to to to tell you that i love you all because
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uh we all lost our internet that and uh and just that's it so let's go that's right yeah i think we're
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a great community yeah mention that uh chile is going to have an announcement tomorrow so make sure
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you tune in for that um that'll be coming tomorrow on the on the live stream so um that'll be coming
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soon and i know you're going to ask too just real quick that was from youtube um that was scott's show
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number 2170 okay 2170 and we'll put it in the notes later but in case you wanted to see that and
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make sure you have your books today okay um did you want to say something oh and i'm sorry i cut you off
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no that's fine um i i think we can just transition over to bob i think he's gonna yeah walk us through
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a reframe right all right you guys have your books bob's gonna do it all right it's page 16 in
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the soft cover i was informed it's page 14 if you have the hard cover if you have the electronic
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edition i can't help you but it's the reframe right after the one from yesterday this one's
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managing energy instead of time and speaking as scott here i've written approximately 11 000 comic strips
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since the beginning of my cartooning career in 1989 nearly every one of those comics was written before
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9 a.m if i wrote a joke at 5 a.m i usually like how it turns out if i try writing a joke at 3 p.m i'll
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probably end up losing whatever i produce i think of this as managing energy not time i have exactly the
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right kind of energy for coffee fueled creative writing in the morning but a caffeine buzz is exactly the
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wrong kind of energy for drawing comics as that requires a more relaxed vibe so i write in the
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morning when writing is easy and i draw in the evening and drawing is easy that's managing energy
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not time so the usual frame manage your time the reframe manage your energy in my experience the energy i
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have for a task is more important to the outcome than the amount of time i have allocated to do it
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i can produce more in 15 minutes with the right energy than in four hours with the wrong energy
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most creative people will tell you something similar there's a time of day that works best for creative
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work and other times do not work at all the same holds for exercise i have the right energy for
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exercise about noon each day so that's when i do it and i assume i get a i get better outcomes compared
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to the exercising when i'm at low energy the secret to managing energy as opposed to time is to gain as
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much control as you can over your own schedule if you have a boss you might not have options about when you
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do what if you have a spouse or family or pet or other obligation those two can force you out of the
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more productive and happy energy management mode into time management mode that's why i say you should
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favor life choices that give you schedule flexibility for example if you get two job offers that seem
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equivalent but one gives you more schedule freedom take the freedom likewise with relationships if you are
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equally attracted to two people and need to choose consider picking the one who gives you the most
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schedule freedom freedom is a good tiebreaker for decisions with unpredictable outcomes the other
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good tiebreaker is how much you will learn in one situation versus the other when you manage
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energy instead of time you might not get around to all the tasks you need to get done
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the solution to that don't do those tasks at least not today if that sounds irresponsible think of all
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the things that ever went wrong because you didn't get something done that was at the bottom 20 of your
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priorities i'll do that exercise too right now and if either of us thinks of even one example i'll be
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amazed okay begin i'm done i got nothing neither did you i'm guessing the least important 20 of your
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tasks are unlikely to have made a difference in your life let them go it's hard at first but you get used
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to it there might be some blowback when certain tasks get postponed but you can more than make up for
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that by being able to do your creative and important work when your energy is best the time versus energy
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trade-off is embedded in most of your decisions but perhaps you never thought of it that way for
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example your diet and fitness systems might take extra time out of your day but you get that back in
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healthy energy or perhaps you're lucky enough to have two potential romantic partners and there's a
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difference in how much energy you feel with each follow the energy that's a good signal if you're
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trying to decide between two career paths you probably feel a distinct energy difference when
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you think of one versus the other don't ignore that when you're buying a car most of that decision
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is practical and focused on your needs but some car models give you a feeling that boosts your energy
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some don't sometimes that feeling hits you every time you get near the vehicle that's energy take
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the car that provides it and so it goes with most decisions in life one path energizes you more than
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the other no matter how they stack up in other dimensions energy isn't the only variable i don't
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want to leave that impression but after health and safety it's near the top treat it that way and
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life will surprise you on the upside it's like the wanting and deciding right exactly and i think
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that's why he organized it that way i know i have struggled with that my whole life because i have
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automatically managed my energy instead of my time and always felt guilty for doing that and when my time
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wasn't always my own i got blowback whether it was parents or a boss or or someone else in my life
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but becoming self-employed and arguably an adult i find i can manage to my energy and hearing that
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reframe finally thank you scott i got the permission i needed to do it and i had been far more productive
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and far more happy about what i've achieved ever since how about you
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what a great testimonial bob um that's my my favorite uh reframe maybe because uh time is very hard to
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focus on right it's so destructive but energy if you keep yourself um a pain free right if you keep
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yourself um strong uh you can achieve anything all day it is there's no limit to how much it can be done
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so that's one of my favorite uh reframes and my one thing i want to add is also i don't think he put in
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the book but he talked about it later is um get rid of any uh energy vampires in your life yes that's
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important and we've all had to do that at times i think i certainly have and it's just not just people
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it can be um uh an activity too or something you know sure absolutely so yeah that's all i got on that
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one maricela yeah i i think it's brilliant i think um they you know there's a lot of things that come
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out of that that you know you can build on that with or other things that scott has said along these
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lines like he you know he does have his own routines which is you know you might think well wait a second
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doesn't he do everything at the same time so isn't he managing his time but i think it's all based on
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his energy right it's based on when he knows himself well enough to know okay in the mornings i feel this
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way in the afternoons i feel that way and it's a pattern and i'm sure if there are exceptions to
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that where he's like you know what today i feel different like i don't feel energetic in the
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morning or i you know do feel energetic in the afternoon then you can easily adapt and adjust and
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get different things done and he's talked also about how like sometimes it's just a crappy day and
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you know then he might actually tackle the tasks that are really crappy because he's like well
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let's just bunch them all up and get them all done today because it's not going to get better
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today so let's you know if i need to fire somebody or if i need to have a difficult conversation then
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when he's in a bad mood he kind of takes advantage of that and that's another example of taking
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advantage of his energy um and i think i've certainly noticed that you know there's certain times a day
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where i have a lot more energy to do certain things um and it helps if i can structure my day around
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those types of things and those activities and do the things that i have energy for
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um it is a challenge sometimes i mean i work for a company i have a boss a lot of the time and they
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might tell me to do a certain thing at a certain time but i i have found that i do have a lot of
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control over that as well where i can schedule meetings at a certain time or even block out my
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calendar at a certain time if i want to make sure i'm not going to have a meeting at that time because
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it's just not going to work out well um and being able to set aside time for certain creative
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activities or doing deep work and that seems to work really well and i think most people are happier
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when you can deliver better results to them and so i think for the most part it works out better for
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everybody when people do manage to their energy so i'd certainly encourage you to try it if you're not
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already doing it um and just you know kind of watch yourself you know have that sense of how is my
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energy today um and also you know part of this i think indirectly he talks about it as like managing
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your environment too that if you have a bunch of clutter around it might drain energy from you
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whereas if you had a neat environment you know you clean your room like jordan peterson says you might
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just feel better and feel more energetic and sometimes you just might need to get out of your
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room that you're typically in working and go somewhere else and that may give you a different
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kind of energy and so i think there's a lot of different tips and techniques that scott has given
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us over the years on how to manage energy and i think they're all very useful i agree and i like the flow of
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that too the the um i was just gonna say the flow of like the one part the one reframe into the next
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because i think that if you if you do the wanting and deciding first and going into like what's the
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most important thing yeah you can eliminate so much stuff to save your energy for the important stuff
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all right sorry i'm just thinking out loud go ahead marcella that's fine for me this this reframe
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um made me feel no longer guilty for you know um some of you know i'm an attorney so i do a lot of
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writing and i do a lot of like you know depots arguments and all that and that's throughout the day
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i i don't have a choice when the court has a hearing but what i when i what this this reframe gave me is
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the idea that i should not feel guilty for at two o'clock three o'clock feeling like i don't have that
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energy to write a brief or something huge so i do most my work in the very early morning or very late
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at night um and i know my job gives me that flexibility to be able to do it um but it it took
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away the guilt and i think bob talked about that but it it just definitely um helps me realize that
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i was you know like i had the idea that energy was key but scott saying it confirmed it yeah
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i also just want to say i saw lyric flower over here on locals said i also like scott's suggestion
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of writing in a busy environment where that is not typically how we would approach that sort of task
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and i love that because sometimes it's true like do the thing you have to do but do it somewhere
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different and maybe it gives you like a different energy or burst or or creativity or whatever it is
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so i thanks for adding that lyric that's a a great idea yeah i dabble in film from time to time
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including screenwriting and what i know from other screenwriters is a lot of time
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they'll go to a coffee shop to write and it's to get out of their regular routine and change the
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scenery exactly like that but it's also to draw energy from the energy around you and the friends
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of mine who do it swear by it so that's another way to manage your energy is go get some
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it's like scott talked about your luck move to a place where there's a lot going on because that'll
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improve your luck the energy is there get get in amongst the energy and draw on it that's great
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advice um i'm gonna toss it over now because there's a lot going on in the news today and as i was saying
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before i'm feeling tingly because i was listening to uh president trump speaking um at the world economic
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forum in davos and he's saying a lot of stuff i like today so how about an interstitial sip and then
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i'm going to turn it over to owen and marcella and they will kick us off on the news and you guys
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chime in in the comments we're reading what you're saying okay go on
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all right well i posted a number of stories um i don't think i did get the latest what trump is
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saying in davos maybe i just didn't quite get the latest um updates on that but erica if you
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want to let me know what he said or marcella i don't know if you're up to date on that maybe we
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could start there i can have um so i i i have some of the stuff that he said he said a lot of things
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that i love i mean i voted for this um but anyways uh he he eviscerated the globalists in their face
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in davos uh world economic forum even gavin newsom was in the crowd but the best thing about it is that
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that there was a standing ovation for him when he came in and that's you know it it talks volumes
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of how how the leaders of europe are against him in a way but at the same time the the the people there
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are not uh the the the citizens of of europe understand what he's saying and it's working so
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i'm gonna cover a few things that he said do not get mad at me for not covering everything because
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he talked for quite a while and i think he may be still talking i don't know um
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he i'll let i'll let you cover it but did gavin newsom really say i should have brought knee pads
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he was thinking that no i think he actually said that he did i didn't say like that i think he was
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complaining about how everyone was deferring to trump oh my gosh maybe the locals can find out
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they're they're saying yes i think yeah i think i think they're saying yes to this there is a delay
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i i i don't remember if i posted the story about it but i'm sure we could find it i'll look for it go
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ahead let's go through what trump said um so i'll cover some of the things he said um he said frankly
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many parts of our world are being destroyed and the leaders don't even understand what's happening
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and the ones that do understand won't do anything to stop it um there's runaway inflation we have
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proven them wrong um many western governments foolishly turn their backs on everything that
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makes a nation rich powerful and strong he actually made me laugh because he talked about windmills
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and whenever i hear windmills i think don quixote um and like this i this ideal
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of green energy being the key to everything um and it's basically a hoax in a way as as i would think
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of it uh but the beauty of it is that he uses visual visual language um as scott would say to bring you
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your mind to the windmills and he says you don't see china having windmills you see europe having
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windmills and that has not gotten them anywhere nuclear is the answer he talks about and he talks
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about the oil production in america being historic high of course um i would have to say that all
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all numbers you know you can't really what would scott say if you want to put it in the um in the in
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your chat but i would think like not all numbers are fake what was it that he would say about numbers
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and figures that government would come up with usually it was about you need to have both the
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absolute numbers and the percentages otherwise it's meaningless or it's deceptive yeah so i mean trump
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is trying to sell the idea that oil uh natural gas and nuclear are the key to energy he talks about oil
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production being historic high in america uh 730 000 barrels a day and last week they picked up 50 million
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he said of barrels from venezuela alone so he uses this to basically set up the difference between
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the winners and the losers but what made me laugh is macron yesterday i think he spoke i think it was at
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the world economic forum he comes in with sunglasses and some people say um trump talked about it today
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and he was something um he said something about like i don't know what's going on with him but what's
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happening uh like some people were claiming that his um you know allegedly his wife may have hit him
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or something else he was covering up but it was hilarious to see him um i think he also talked
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about macron about macron being um weak and this was at his speech today um one of the things he said
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oh my god president trump just talked about the line that embarrassed french president emmanuel macron
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while he's in the room and it's pure gold this is from eric dorothy on x um and then he quotes trump
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saying i said here's the story emmanuel you're gonna do it you're gonna do it fast if you don't i put 25
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tariff on you and 100 on your wines and champaines no no no donald i will do it took me three minutes
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no no no donald i will not do it you're asking me to double i said emmanuel you took advantage of the
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u.s for 30 years you will do it in fact i'm 100 sure that you will do it no no no no no he is the
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he is the best so that's one of the things he talked about he talked about canada and he talked about
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carney um for all the canadians watching me mike work one of them um canada lives because of us he said
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mark remember that before you make those speeches so he's he's notifying them that he's strong he takes
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the strong position and that he obliterates them with the tariff which goes to the point that the
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united states supreme court was supposed to come out with the opinion on the tariffs um i i don't know
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if you recall but they it's been litigated into going up to the supreme court where they needed to
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decide whether trump is constitutionally allowed to set these tariffs or whether he needs congressional
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uh you know approval uh you know approval and basically the u.s supreme court not sure exactly why
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yesterday did not release that opinion meaning that they didn't possibly they didn't either they're not
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having a full decision yet realized or they didn't want to be political in them releasing the opinion
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um they made that move yesterday i'm not sure what that says they will eventually come out with the
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decision which will in fact either confirm trump's power or not so that's one of the things that happened
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um trump went on uh to talk about the credit card issue in america in the davos speech he talked about
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passing an executive order of uh having credit cards only charge 10 percent um part of this is the idea
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that people the general public they they need the middle class the lower class everybody and everything
00:30:06.920
needs money in order to buy property in order to buy a house and he was talking about the idea that
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most credit card companies will charge 28 percent or more to their customers but by passing this
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executive order he's asking the credit card companies to only charge 10 percent now for one year for one
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year for one year now legally i i can't go into it but i'm sure there's going to be lawsuits to
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not um you know to not enforce this executive order and i don't know your thoughts on that
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the other thing i just wanted to quickly say was when he was talking to macron about the tariffs on
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their imports that was because he's working on the drug prices coming down um because we're paying
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you know like three thousand percent more than the other nations so he's saying like you either
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raise your prices so ours come down like if all of all of your countries each take it a little bit
00:31:05.960
then it'll kind of balance out and that's what he was saying no no no we're not going to do it um
00:31:11.960
and then also so we can have favored nation status he worked on that so we would pay in america the
00:31:18.600
lowest price of all the so whatever the lowest price is for any country that's what we would also pay so
00:31:25.560
that would be because we pay out the wazoo for drugs here so yeah go ahead so he i don't know what uh if
00:31:35.800
he talked about other points the credit card point was excellent the the other thing that happened recently
00:31:41.720
is that yesterday i believe he passed an executive order um to put some kind of uh stop to companies
00:31:53.160
purchasing homes um it's the first step laying out the wall street home purchases now i have to say
00:32:02.040
and i know i won't be popular out there i'm not in agreement with that um given that that is basically
00:32:10.040
corporations are people in my mind um if i have a corporation then i want to buy a home i should be
00:32:17.960
allowed so to me i don't think the idea economically to just force corporations not allowed to purchase
00:32:28.440
homes it will not make the home cheaper um in my mind i think that the government should stay away from
00:32:36.760
economics and i'm a lazy freight capitalist so as you can as you some of you would know but um but i'm sure
00:32:45.160
that there are people that want this relief fast and i think trump understands that and i think what
00:32:51.160
he's trying to do is is bring relief as soon as possible and i think like different capitalism would
00:33:00.120
take a while to work uh i am a millennial and i have lots of friends that are just renters and he and
00:33:09.960
today in davos he talked about i don't want a nation of renters i want a nation to own homes
00:33:18.120
because part of owning a home is not really the ownership but it brings you stability to have a
00:33:25.400
family to have kids to be able to have stability in personal life versus you know less divorces less
00:33:36.760
issues you and it's affordable home because the issue is that you end up paying so much of your
00:33:43.640
money to your house that there is not much money left so i don't know if you have thoughts on that i
00:33:52.040
personally disagree with the executive order but i can see why he's doing it yeah i feel similarly i mean
00:34:01.240
i think i can understand why he's doing some of these things because he's trying to make things more
00:34:05.320
affordable and even if it's just a temporary thing if it has a positive impact on affordability
00:34:11.880
then that you know has not just the economic benefit for people in the short term but also it might
00:34:18.280
have a significant impact on the midterms and so politically i think it's probably a very smart move
00:34:24.600
to say i'm doing everything i possibly can pulling out all the stops doing things i might not normally do
00:34:29.320
to try and just make life more affordable for people it's a real issue and it's what people care
00:34:35.720
about so i think he's trying to read the room and say i'm going to do everything i can to take away some
00:34:42.200
of the cost of this but at the same time i do share a lot of your beliefs about government getting involved
00:34:49.640
with the free market and having it maybe backfire and i'm worried about that because for example with
00:34:55.800
credit cards you know if we go back to the financial crisis what we saw was when they
00:35:02.680
put in more controls around that what happened was people just stopped lending that banks stopped
00:35:07.640
lending to people you know and and i i agree that it was an abuse before that that led to the financial
00:35:15.080
crisis so i'm not saying we should have just let everybody do like no document loans like they were doing
00:35:20.040
and all these essentially fraudulent types of things i don't think that's the right answer but at the
00:35:24.680
same time what happened was banks just said you know what i i don't want i don't want to do this
00:35:30.120
anymore like i'm just going to pull back and even when the government encouraged them and tried to get
00:35:36.200
them to say no we really want you to issue loans to the people who are qualified for them they still
00:35:41.720
wouldn't do it and for many years it was like getting really hard for people to get a loan approved
00:35:48.760
because the banks were so gun shy to take on any risk or to make those loans and if you limit the
00:35:55.640
credit card interest to 10 percent what i would expect to happen from an economic standpoint is
00:36:01.080
that you'd probably see a lot of credit lines getting cut where people won't be able to put
00:36:05.880
anything more on their credit card and you might even see some of their cards being canceled where
00:36:10.280
they're going to say we're not even going to allow you to have a credit card anymore because you know
00:36:15.160
you're not worth the risk if you're the type of person that was carrying a credit card balance and
00:36:20.360
not really paying you back or make keeping up with your payments that the credit card companies might
00:36:25.080
say it's not going to be profitable for me to do this because that's i think one of the reasons why
00:36:30.040
you have these 20 interest rates is that they need to charge that much in order for the whole portfolio
00:36:37.080
of customers to make sense you have a whole bunch of people like me that pay off their bill every month
00:36:42.920
and they never get any interest um they get a whole bunch of other stuff like the transaction fees
00:36:48.280
and stuff for me but they you know they don't get interest but then you have some people who carry a
00:36:52.840
balance but they make their minimum payments and then you have other people who struggle to make their
00:36:56.280
minimum payments and they never pay it back and they have to look at that as a whole portfolio and
00:37:01.160
say okay what do i need to charge for people who aren't paying their full balance every month so that
00:37:06.520
even if some people never paid back i still get more than i lend it loaned out to people and so my
00:37:14.600
concern would be that this would have a retraction sort of effect on the economy where credit card
00:37:21.000
companies would say well if i can't charge any more than 10 percent then i'm only going to charge i'm
00:37:26.200
only going to allow credit for the highest credit rating people that i know are going to pay me back and
00:37:31.240
i'm going to cut it off for everybody else and that may end up hurting the very people that trump
00:37:35.160
is trying to help and i think um you know some of that might be true with some of this housing market
00:37:41.000
stuff too that if you um you know if you if you restrict things and say you're not allowed to do
00:37:48.040
certain things then that may just have a an effect of pulling back on the market you won't have as many
00:37:54.760
buyers you won't have as many sellers and there may just not be as many transactions now i i think
00:38:01.320
you know on the housing front in terms of not letting big corporations buy houses
00:38:06.120
um to me that might be a little bit of a red herring sort of thing like i don't know that there
00:38:10.200
really were that many big corporations that were snapping up houses i know there was a lot of news
00:38:14.920
about that and especially on the right but i remember seeing that that was kind of debunked
00:38:20.360
and that it really wasn't happening nearly at the scale that people were saying it was
00:38:23.880
um you know correct me if i'm wrong if you if you think there is a lot of that happening and it's a
00:38:30.280
big problem but i think you know to me if you restrict the free market and you say you know we're not going to
00:38:37.400
allow that anymore that's just going to take certain buyers off the market which means you know maybe
00:38:42.760
there will be some price pressure downward but it also might just mean that not as many houses get sold
00:38:47.720
i think it's a big problem owen i don't know i mean i i know um you know entire neighborhoods are
00:38:54.680
being bought up by corporations forcing people to rent that's a problem and it is definitely a
00:39:01.640
problem i don't know about other cities but i can speak for manhattan has a huge problem with this with
00:39:07.640
you know corporations and corporations from other countries buying up you know buildings and
00:39:14.520
you know entire entire buildings just buying it all it's empty no one's there but now they own all
00:39:21.640
that real estate and it's a write-off for them it's an investment for them um but at what cost to the
00:39:28.440
cities in bad shape i would be much more supportive of saying we don't want china to buy a ball of real
00:39:34.280
estate especially if they're going to leave it idle and not even rent it to anybody that's ridiculous and
00:39:38.440
i think we shouldn't allow that so i'd be much more supportive of that type of policy but i don't think
00:39:43.000
that's what trump was doing in this case he's talking about like your black rock stone black who
00:39:50.120
is it it's one of them right but that's the story where it might have been debunked but go ahead bob
00:39:57.720
i'm gonna come out in favor of this idea of preventing large corporations from buying up
00:40:07.480
in the last few years i've gotten more involved in my own neighborhood and i'm not going to get into
00:40:12.040
details about that but what i've discovered is we have one corporation alone that owns uh more than
00:40:21.080
five percent of our neighborhood one company alone and if i were to tell you the name and you google
00:40:29.640
that the most common thing you would see pop up in your search results is that name associated with the
00:40:36.680
term slumlord i've dealt individually with a bunch of the renters in our neighborhood who are renting
00:40:43.400
from by and large large corporations that own thousands and thousands and thousands tens hundreds
00:40:52.840
of thousands of properties perhaps and when they have a problem they have to fix it themselves they can't
00:40:59.960
get the landlord company to do it they're having to do things that you know in the neolithic area when
00:41:07.080
i was still a renter uh things that were always the the landlord's responsibility in terms of maintenance
00:41:16.600
and lawn care and these kinds of things that uh if you did have uh somebody uh that owned a bunch of
00:41:24.920
properties they had a maintenance crew that would come around and uh i've had to deal with
00:41:32.600
these companies just shirking their responsibilities leaving the properties literally uh creating hazards to
00:41:41.480
other people in the neighborhood and we've had to take all kinds of action to get that resolved
00:41:48.440
um and my understanding is that and marcella you may know more about this owen you may not more may know
00:41:57.560
more but my understanding is this wasn't an issue before the big financial crisis of 2008 when all of the
00:42:06.920
mortgage-backed securities started getting bought up and and companies decided hey i can go out and buy a
00:42:14.120
a lot of single you had corporations that owned apartment buildings and whatnot but you didn't have
00:42:20.040
them owning single family homes and at least from my anecdotal situation i see it as a real issue i'm
00:42:28.280
more in favor of that than i am limiting the credit card interest because i figured you know there's state
00:42:33.720
usury laws already that that should protect that to some degree and uh you know the consumer
00:42:42.120
at some point the consumer has to be responsible for the contracts they sign and and if paying
00:42:50.120
excessive interest is a hard i mean i did it as a kid i i got into credit card debt and and had to learn
00:42:58.200
the hard way out of how to deal with it and pay it off and get to the point like oh and you know
00:43:03.320
i i pay it off every month and don't pay a penny in interest but yeah yeah i'm as as much as a
00:43:11.800
free market hands-off limited regulation guy as i am i'm with trump on this one okay that's good
00:43:21.880
that's interesting to be honest i i lived in in in a country before here i'm i was born in el salvador
00:43:29.560
and i have to say when you restrict ownership on corporations there's many other things that can lead
00:43:36.680
to this idea that the government controls how the economy works and i'm against it i understand the
00:43:43.800
plight of everybody that's going through it i mean i'm poor uh so i would know um i'd be a middle class
00:43:51.960
poor whatever but it's still i understand the issue and why trump is wanting to do it but i don't think
00:43:58.040
this is the way um i think that corporations are owned by other people that risk their their their
00:44:05.320
their time their effort um and they are basically just trying to do it in regards to slum owners
00:44:13.400
um as you said bob there is loss against it so if there if that comes up this renters can sue the slum
00:44:23.400
owners and it can be there's other ways of of approaching it and that's my take um i understand
00:44:33.640
but how how many how many people who are renters are going to have the funds to do that
00:44:42.680
how many renters do it now um there is many legal aids that do it you can take the
00:44:48.520
them to court and small claims you don't even even taking them into court you know most of these
00:44:54.520
people that i see that are renters are living paycheck to paycheck and they can't afford to
00:45:00.680
even take the time to research how do i do this you know the law someone has got to to help them
00:45:09.240
and so anyway that's my response to that i mean i i i think that again i in the research i've done
00:45:16.920
in the stories i've seen there i think there is some i guess what i would call misinformation about
00:45:21.240
this let me i i just asked rock about this and it was blackstone that was the name of the place that
00:45:27.480
was buying up some but they own a total of about 62 000 homes in the whole country and that may sound
00:45:34.200
like a lot and it probably is a lot but that's still a pretty small percentage like it's a lot though
00:45:39.720
if it's entire neighborhoods well and it may be a problem in certain neighborhoods but here's here's
00:45:46.040
what grok tells me large institutional investors and they define that as those with over 100 homes
00:45:51.720
they own roughly one to three percent of the single family housing stock so that's a total of 574 000
00:46:00.200
homes which again is just one to three percent of the total market and that was as of 2022 and it says
00:46:06.360
it's gone down since then so it says their share of purchase has declined since peaks around 2022 and
00:46:12.920
they account for under two percent of home buys in many periods all investors including the small
00:46:18.280
mom and pop ones have bought higher shares sometimes 25 to 34 percent in 2025 quarters due to high
00:46:25.320
mortgage rates that are sidelining regular buyers and it does say in some specific metro areas areas
00:46:31.400
like atlanta charlotte or jacksonville institutional ownership overall reaches 15 to 25 percent of single
00:46:38.360
family rentals which makes it feel more like an issue but nationally it's not really that big of an issue
00:46:45.960
and so i mean again all real estate is local and if you're in atlanta and it's hard to find a home to
00:46:53.000
buy and everybody all the institutions are buying them yeah that's a big deal and maybe this will help with that
00:46:57.720
but i think as a overall national issue i just don't know that it's really going to make much difference
00:47:03.320
um because it's not really happening as much as the media is saying it is and can't those same people
00:47:09.640
just make another corporation and just keep buying and buying and buying it's just under a different
00:47:15.560
court i would be worried i would be worried about that too because i i mean i i haven't done any real
00:47:19.320
estate investing but i have research doing it and typically what i hear recommended is that for every
00:47:26.280
property you buy you make another llc for that property because it helps you to separate it
00:47:32.040
legally so that if you get sued because let's say something bad happens like somebody slips and falls
00:47:36.360
on one of your properties you don't want it to mean that you could be sued for all your property yeah
00:47:41.160
right so so typically i always hear if you're a real estate owner and you're doing rentals you want
00:47:47.080
to have a separate company for every single property and i would imagine that if these large corporations
00:47:52.520
are somehow barred from buying properties that's probably what they would do right they would just
00:47:56.120
make a whole bunch of separate companies and i don't know maybe there will be something that
00:47:59.880
prevents that too that says you can't all be owned by the same owner and maybe that'll still work but
00:48:06.360
still i would expect that if a big company doesn't buy it then maybe a small company will buy it and
00:48:11.880
i don't know how much difference it'll make to the average person who's trying to rent to buy a house
00:48:17.240
because i think to me that's more having to do with the mortgage rates and the value of the house and
00:48:21.720
i think right now we're still in a mode where real estate prices are probably inflated you know
00:48:27.320
it's probably just too high because i think a lot of the prices have been up since the real estate
00:48:33.640
mortgage rates were very low which tends to drive up the price because again it comes down to what can
00:48:39.160
i actually afford and so when the when the real when the mortgage rates go up the value of the house
00:48:44.520
typically would go down but it really hasn't and i think that's because that real estate market tends to
00:48:48.440
be kind of inelastic sellers don't like to drop their prices right so they might just hold on to
00:48:54.200
the property or keep living there until they can get the price that they want and so right now i think
00:48:59.640
we're in this kind of mode where values of properties probably should come down to make
00:49:05.480
them attractive to people to buy but the sellers don't want to do that and so a lot of people feel
00:49:11.240
like they're just stuck in their home until they can find a buyer at the price that they think they want
00:49:14.920
to get but i think mortgage rates going down as they have gone down significantly under trump
00:49:21.160
i think that will help and probably more than this other rule because if you can make it more
00:49:25.880
affordable where people really can't afford the mortgage and can't afford to buy the house that
00:49:30.200
might really make a difference for a lot of people well trump did oh sorry go ahead wasn't there a story
00:49:36.120
that somebody pointed out right now that scott would say don't trust data don't trust the data
00:49:41.800
um other thing is that there was um immigration um people being um deported is causing um lower rents
00:49:52.600
in certain cities and allowing i don't know if there there were a lot of home owners that were
00:49:59.800
illegal here but i'm assuming it it's causing um the market to stabilize and lower price it's probably
00:50:09.240
freeing up real estate and rentals it has to be right i mean we have millions of people that have
00:50:14.840
left the country and all of them lived somewhere so i think that is a huge factor and i think it
00:50:19.240
probably is going to have an impact especially on rental prices because that's i think more elastic
00:50:23.480
where if you can't find someone that's willing to pay the higher price you're going to lower your
00:50:27.480
price until you get that apartment rented or that house rented and so it is going to cause prices
00:50:33.480
to come down on the rental market much more quickly i think than on the buying market
00:50:39.240
right um you guys we have about nine minutes left why don't we switch to a different topic
00:50:44.920
and um you and uh marcella and owen you know what what else do we want to know about we we wanted to
00:50:50.680
talk about energy because as you know the the the key today is energy bob talked about managing energy
00:50:58.120
what the reframe was somebody mentioned that scott would be in the same side and trump would be at
00:51:04.280
the same side one of the things that um our friend mark would love is that japan restarted
00:51:11.800
a nuclear plant today it's been 30 years since they have done that and uh 15 years since hukushima
00:51:19.880
and they started that and one of the things that trump talked about today is that china he he basically
00:51:28.200
gave them um he told them that china is doing really great on energy that he read in the wall street
00:51:34.840
journal they're doing so great and i like them you know and so the key to china is that they are building
00:51:44.680
nuclear faster than anyone right now and what trump talked about is letting companies here in america be
00:51:53.560
able to build their own nuclear and be able to not have the red tape of government to allow them to
00:52:02.680
build um germany killed nuclear and i think they're trying to bring it back um which is one of the reasons
00:52:11.320
why in germany the elections um are causing the the populace to go to worse the right because their prices
00:52:21.480
are increasingly unaffordable we think today like our energy prices are affordable are unaffordable
00:52:29.240
here in america and germany is way worse in other countries it's always worse so that's one of the
00:52:34.840
things that came up the other uh thing that's coming up today is that the supreme court today is hearing
00:52:42.360
arguments in regards to president trump's authority to remove members of the federal reserve to go back to
00:52:49.480
the economy um he wanted uh as you recall he fired lisa cook which was part of the reserve board of
00:52:59.480
governors and basically when he fired lisa cook lisa cook said no i'm not fired you don't have
00:53:07.080
constitutional right to fire me so i'm staying here and then the supreme court is today hearing that
00:53:13.480
um the opinion will come out later but that that would be interesting um i don't know when if you
00:53:19.960
wanted to add to that i would just throw in another story i posted today it's a study they did in new
00:53:26.840
england and they said that new england rate payers could save up to 700 billion dollars by swapping
00:53:32.600
renewables for gas and it's sort of a combination of nuclear and natural gas that they were looking at but
00:53:39.800
they're basically saying there might be a lot of blackouts if they don't do this and that um
00:53:46.040
again if you just run the numbers if you use natural gas and nuclear or some mix of the two it
00:53:53.000
could save people who pay for electricity there in new england up to 700 billion dollars so that's a big
00:53:59.480
number um you know and um i think it certainly makes a strong argument that you don't want to put all your
00:54:07.480
money into wind and solar and batteries and all these other things because it's going to be
00:54:11.800
tremendously more expensive um to try and do this net zero stuff and that we are going to need a lot
00:54:19.240
more electricity with or without ai and we we need to find a way to provide all this energy and the
00:54:26.040
cheaper it is the cheaper everything is because everything depends on transportation and other you know
00:54:31.240
you know has to have heating and cooling and all sorts of things so it really drives the economy
00:54:37.480
when you have cheaper energy so i i think this is something that hopefully new england will pay
00:54:42.120
attention to and we'll try and drive their nuclear and natural gas infrastructure to try and get that
00:54:47.800
cost down because i think new england probably is one of the worst areas in terms of electricity costs i
00:54:52.920
don't know if you can comment on that erica but yeah new jersey is brutal
00:54:56.840
mm-hmm yeah no it's got to come we have a new governor now as of yesterday so we'll see how that goes
00:55:05.800
um do you mind me go ahead so the somebody mentioned on here i forget her name here but it talked about
00:55:15.800
nuclear um people are scared because of three mile island and fukushima and uh other other situations
00:55:25.160
um um and trump talked about today that he was actually scared of oh there you are eric
00:55:38.600
so trump was saying that he himself as a person was scared of nuclear at first but now he sees it
00:55:46.760
so one of the things that that scott always talked about is having the flexibility of of pivoting and
00:55:54.440
being able to say hey i was wrong once now i'm correct again you know i'm i was wrong and i
00:56:01.720
changed my mind and being able to change your mind is like a superpower and he did it in front of everybody
00:56:07.400
he admitted it and that was great um and i don't know in regards to the the affordability in newland i
00:56:17.000
wouldn't know but i live in california it's quite unaffordable for everybody here um yeah
00:56:23.720
so yeah i mean i do think that it's hopefully gonna turn a corner with nuclear i think we are
00:56:30.120
making a lot of strides but i do think it's a longer term solution no matter how you cut it because
00:56:35.880
you know i think we made it so hard to build a nuclear plant that it was basically impossible and it
00:56:40.520
was just so costly and it would take 30 years literally 30 years to build a nuclear plant um
00:56:46.360
and i think we're we're definitely getting that down but i think you know what does that mean does
00:56:51.640
that mean five years 10 years 15 years you know it's not going to be next year that all of a sudden
00:56:55.880
we're going to have a bunch of nuclear plants so i think in the meantime we need to look at things
00:56:59.960
like natural gas and other things that are a lot easier to roll out maybe even coal which is what
00:57:05.880
you know trump's trying to do is to keep the coal plants going but um it sounds like that has its
00:57:11.000
own issues in terms of keeping it going and natural gas is a lot cleaner and a lot cheaper than these
00:57:17.000
renewables for sure and i think it is probably the best solution in the short term is to ramp up on the
00:57:22.040
natural gas and that probably also ties into just the the you know increased drilling and drill baby
00:57:29.080
drill and all the rest because i think trump has made a lot of strides in terms of that getting people to
00:57:35.000
produce more oil more natural gas but we need to use it you know we can't just let it pile up we
00:57:41.160
need to actually put it to work so to me that that's probably the best short-term solution yeah i agree um
00:57:48.440
all right you guys you know me the timer nazi oh am i allowed to say that anyway wrapping up i i want
00:57:55.640
to just real quickly i haven't heard anybody talk about the winter weather that's coming through parts
00:58:01.560
of the country and how bad it's predicted to be i did like scott did a couple years ago and i ordered
00:58:07.640
extra batteries and solar generator and things and if you're in the path of this thing do the same
00:58:16.520
follow scott's lead on that just i'm in the path i'm miserable about it oh i mean i said i wanted snow
00:58:24.440
snow but not like snowmageddon not all of it snow but not at all yeah erica i don't know i think we
00:58:33.800
might have lost her but um yeah i i started seeing stories about that how it's like dangerous to be
00:58:39.720
outside and it's going to be really really cold so definitely bundle up do whatever you need to to
00:58:45.080
prepare for that um can you guys hear me by the way yeah we can hear you okay all right i don't know
00:58:50.920
what i just also wanted to say congratulations to um jd vance and his wife usha they're expecting a
00:58:57.880
baby boy which is so nice um you guys tomorrow shelley's gonna have an announcement for us in
00:59:05.800
the morning and we have a special guest tomorrow we'll keep it a secret i just think it'll be a fun
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guest for us and i think tomorrow we're doing news stories so that's gonna be fun um you guys we
00:59:19.720
so appreciate you i go back and read the comments on locals later and um you guys are so sweet like
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we're we're trying our best um and uh we'll be back again tomorrow any closing words from you sergio
00:59:35.400
bless your soul we just had you all quiet over there today didn't we we love you um okay all right you
00:59:43.320
guys so we'll see you tomorrow it's 11 o'clock go be useful touch some grass make some plans do some
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wanting and uh deciding and eliminating things manage your energy all the good stuff and a final
00:59:58.280
sip to scott as always we love you scott to scott we love you guys see you tomorrow