00:00:37.000And in response, Americans elevated a bunch of Democrats and then passed a bunch of measures that worked toward destroying economic growth in the country.
00:01:11.000But yesterday, investors proved him wrong.
00:01:13.000They made it abundantly clear that they welcome a massive check on presidential power and the push-pull of a divided government, that this country prioritizes respecting the rule of law with functioning elections and democracy.
00:03:18.000The whole complaint in this election cycle is that things are unaffordable, which means you need access to cash, which means lots of people, thanks to wages not keeping up with inflation, will now need to cash out their 401ks.
00:03:29.000And if you do that lower, it means you lost money.
00:03:32.000But of course, that's not the only thing the stock market drop signifies.
00:03:42.000They are giant floating oceans of money waiting to gobble up new offerings or new issuances of stock from currently publicly traded companies, right?
00:03:50.000If Burger King wants to raise money, they issue some stock and you buy that stock.
00:03:55.000When the stock market drops, that means that companies can't really issue more shares into the market at competitive prices because nobody will buy them.
00:04:03.000Now, again, companies issue new shares in order to raise capital, right?
00:04:05.000They want money so they can, you know, hire and expand and innovate and research and build.
00:04:11.000So, when the stock market dumps, companies can't really do that.
00:04:15.000They can't IPO, they can't issue new stock.
00:04:27.000So, let's use my own company as an example.
00:04:29.000We're a private company, but let's say that we weren't.
00:04:31.000Let's say we were in the public markets.
00:04:33.000And let's say we wanted to raise some money to make another Matt Walsh documentary.
00:04:36.000But it turns out the stock market as a whole is dropping.
00:04:39.000So, we can't actually just sell some shares and raise more money to do that documentary.
00:04:43.000So, instead, we just don't sell the shares, which means fewer people subscribe because we don't have a Matt Walsh documentary that you want to see.
00:04:50.000And that means we start to contract and we have to fire people.
00:04:53.000And we can't get a private loan because we're now in decline.
00:04:55.000Which means now we lay more people off, right?
00:05:13.000Okay, so let's take the Daily Wire as a real example.
00:05:16.000We're a private company, we're not publicly traded.
00:05:18.000We grow based on our subscriber base and people who advertise.
00:05:22.000If a bunch of people lose their jobs, broadly speaking, across the economy, Or products get more expensive and worse because companies can't invest in them.
00:06:07.000When financial markets become frightened, banks and lenders don't lend money.
00:06:13.000They would rather hold their cash than lend money to businesses they're afraid will fail because why would you lend money to a business that is going under?
00:06:20.000You wouldn't, you just hold the money.
00:08:38.000Well, listen, the elections the other night, they're enough to make me lose some sleep, except that I'm still sleeping soundly on my Helix sleep mattress.
00:08:45.000Well, because I didn't just go to one of those big box mattress stores and lie down on a mattress for two seconds flat and go, yeah, this is comfortable enough.
00:08:51.000Lying on a lumpy mattress for the next 10 years.
00:08:53.000Instead, I went to Helix and I got a personalized mattress, which you can also do.
00:08:57.000Helix has more than 20 mattress models.
00:08:59.000Their two minute sleep quiz considers your sleep position, comfort preferences, and support needs, and then matches you with the right one.
00:09:05.000Every Helix ships free in the US and includes the Happy with Helix guarantee and a 365 night sleep trial.
00:09:11.000That's an entire year to sleep on the mattress at home and make sure it's right for you.
00:09:14.000Go to helixsleep.comslash Ben for up to 30% off during Helix's Black Friday sale.
00:10:33.000And then you have capitalism, which is slightly less popular because Democrats drag it down.
00:10:38.000And then social democracy, and then socialism, and then finally communism, which apparently nobody likes, including even young Democrats.
00:10:44.000But if you can't tell the difference between, say, free market economies and socialism, as young Democrats cannot, this means that you don't know things.
00:10:55.000And knowing things is generally a prerequisite for being a good and effective citizen.
00:11:51.000Let's see if we can spot any clues, gang, because elections have consequences.
00:11:55.000So, Representative Jamie Raskin is out there basically comparing corporations to Marie Antoinette.
00:12:02.000Of course, Marie Antoinette was beheaded.
00:12:04.000So here's Representative Jamie Raskin of Maryland.
00:12:08.000Corrupt government is government that serves a tiny, tiny percentage of the people who've seized the power of government and taken political control.
00:12:19.000And democracy and the rule of law are there to serve everybody.
00:12:23.000And so you're talking about two completely different forms of government.
00:12:26.000When Marie Antoinette said, let them eat cake, okay, was that a problem of accountability?
00:12:41.000If you've got monarchical, dictatorial, repressive, oligarchical government, that's extremely expensive for the common people.
00:12:51.000Okay, so again, Jamie Raskin is comparing the current government, which again is quite corporate friendly, quite business friendly, with the French government, which was famously not particularly friendly toward private property.
00:13:24.000I said in January of 2025, the most dangerous picture in modern American history was that picture of the president at the inauguration surrounded by a bunch of tech bros.
00:13:34.000Because if the economy went south at all, if Democrats, Decided that they were going, if the American people handed power to Democrats, if there was an enormous amount of corruption inside the administration, if any of that were to happen, then Democrats would come in with a brick and just start hitting capitalism.
00:13:50.000They would just take it out, put its face on the curb like American History X, and go after it.
00:14:41.000According to the Washington Sun, which is a sort of Local Democratic Oregon. House Democrats on the Judiciary and Oversight Committees have been studying a 181 page dossier that identifies hundreds of executives and companies for them to investigate after they take control of the House and Senate next year.
00:15:00.000The document, drafted by the think tank Groundwork Collaborative and reviewed by The Washington Sun, argues that the party should respond to the results of the election by aggressively probing large corporations, including the biggest tech giants, artificial intelligence labs, natural gas firms, private prisons, and nursing home operators, among dozens of others.
00:15:16.000Progressives will have many allies in key positions.
00:15:19.000Bernie Sanders will be the head of the Health, Education, Labor, and Pensions Committee.
00:15:24.000Elizabeth Warren, Pocahontas, is likely to lead the Senate Banking Committee.
00:15:31.000Senator Sheldon Whitehouse of Rhode Island is likely to lead the Judiciary Committee.
00:15:58.000Some corporations are in bed with the Trump administration, trading favors for access, putting in money to pay for a ballroom and Trump's monuments across D.C. that nobody asked for.
00:16:12.000Who is benefiting from this war in Iran, from what we did in Venezuela?
00:16:19.000Because the oil companies aren't struggling.
00:16:22.000In some cases, the oil companies are making record profits.
00:16:26.000And again, remember, these are people who say they want to achieve affordability and they're going to punish the oil companies.
00:16:42.000Again, herein lies the problem with a two party system.
00:16:45.000In many cases, it's a good thing, in some cases, really bad.
00:16:48.000It turns out that if you want to punish one party, you end up rewarding the party that destroys your entire financial future.
00:16:53.000Elizabeth Warren, by the way, according to the Wall Street Journal, she's going to probe pretty much everybody.
00:16:58.000Quote, she has called the private equity industry legal looting and written a bill that can make it easier to jail executives.
00:17:05.000Again, the private equity industry, that is the pool of capital available for brand new companies to actually issue stock and have money to actually invest and hire people.
00:17:16.000She's called for criminal probes into banking executives for failing to catch blowups.
00:17:20.000She sought to delay the biggest IPO of all time, SpaceX, and raise questions about Anthropic's existential risks to humanity.
00:17:26.000She has pledged to look into bankers' ties to Jeffrey Epstein and dealings with the Trump administration.
00:17:30.000Now, the Massachusetts Democrat is about to take control of the powerful Senate Banking Committee, giving her the kind of expansive authority over the financial industry she's long sought and Wall Street has feared.
00:17:40.000I know a lot of people think, oh, well, you know, Wall Street, they should fear Wall Street's bad.
00:17:43.000Again, go back to the beginning of the show and review, please, slowly, at like 0.75, what I explained about the stock market, because that's what investment is about.
00:17:53.000Investors do not make money as a gigantic rule, as an overall rule.
00:17:59.000They do not make money unless the companies in which they are invested produce things that you wish to consume.
00:18:05.000So, if you don't want those things, then definitely go along with Elizabeth Warren.
00:18:09.000Again, remember in August 2026, she said, We should all be worried about dynamic pricing.
00:18:14.000That's when companies change their prices in real time.
00:18:16.000If it's hot out, the cost of ice cream could go up.
00:18:20.000It's a way for giant companies to squeeze you even more.
00:18:23.000Well, yeah, that's just called supply and demand.
00:18:27.000Because if you kept the price of ice cream the same when it's cold and when it's warm, you would have an oversupply of ice cream when it's cold and an undersupply when it's warm.1.00
00:18:35.000But she hates markets and doesn't understand them and has decided to frontally lobotomize herself.0.99
00:18:40.000Again, I find Elizabeth Warren to be a puzzling character because I knew her way back 20 years ago when I was in law school, and she didn't used to be completely retarded.1.00
00:18:48.000But apparently, she has decided to go all the way ice pick to the frontal lobe.1.00
00:18:52.000And that lady's going to be leading the Senate Banking Committee.
00:18:55.000Well, listen, a growing economy is really, really, really important.
00:18:59.000But right now, it seems like with the heartburn and stomachache and all the parties, it's very easy for everybody to just say the American dream is dead.
00:19:07.000It's considerably harder to explain what's actually happening and why it's happening and what would make it better.
00:19:13.000That's why I went head to head with left of center Scott Galloway in the first ever USA Facts debate focused on the American dream.
00:19:19.000We debated whether capitalism is working or leaving too many people behind, whether more government is the answer or whether government is part of the problem.
00:19:26.000And here's what made this debate different.
00:19:28.000Each segment started with government data and facts from USA Facts.
00:19:32.000Before we argued about the solutions, we had actual numbers to work from.
00:19:35.000Now, having the same facts doesn't mean Scott and I suddenly agreed on everything.
00:19:38.000Obviously, but it does mean you can see where the disagreement actually is, evaluate the arguments, and decide for yourself who makes the stronger case.
00:19:46.000You should come away from a debate knowing more than you did going in.
00:20:07.000We talked about it a lot on the show.0.99
00:20:10.000It's going to steal our precious farmland and also bodily fluids.
00:20:13.000Now, again, on a just basic level, that is untrue.
00:20:17.000The amount of actual territory covered by AI data centers is minimal compared to the gigantic swath of farmland across the United States, thank God.
00:20:24.000We're the most blessed people again in the history of Earth, and the North American continent is an incredible place filled with gigantic swaths of usable farmland.
00:20:33.000Right now, there are about 5,069 data centers nationally.
00:20:37.000710 are in Virginia, 595 in Texas, 301 in Georgia, and 301 in California.
00:20:44.000There are about 250 in Ohio, Pennsylvania, and Illinois.
00:20:47.000Now, I'm going to point out that every state that I just mentioned now has a Democrat governor.
00:20:53.000Every single state that I mentioned has a Democrat governor.
00:20:58.000And all of them are going to work to crack down on AI data center construction.
00:21:03.000So, you know, that sounds like fun and games until you realize that actually, the vast majority of private sector jobs that have been created over the course of the last couple of years are either directly or indirectly connected with AI data center building.
00:21:18.000The reality is that at least 300,000 manufacturing jobs are supported by AI data center construction, and another 300,000 jobs are supported by AI construction supply chains.
00:21:28.000And that's not even counting the actual jobs created by AI or your personal use of AI.
00:21:33.000Again, one of the great astonishing things about how people think about markets is that they use the very products they decry.
00:21:40.000The vast majority of Americans use AI and they use it daily.
00:21:43.000And then they yell about how much they hate AI and AI data center construction.
00:21:47.000You know, probably what we should do is we should just call them big buildings that make jobs.
00:21:51.000If we call them big buildings that make jobs, then you'll like them.
00:21:54.000But if we call them AI data centers, then you'll hate them.
00:21:57.000It's the same exact building doing the same exact thing.
00:22:01.000But apparently, it's bad if you say AI data center.
00:22:03.000I mean, this is what the polls show, by the way.
00:22:05.000If you just get rid of the acronym AI at the beginning of data center, the popularity increases by well into double digits.
00:22:15.000Yeah, in the same group of the American people, on average, the American people come up with the right answers over time.
00:22:25.000But there's a difference between a voting machine, which is what elections are, and a weighing machine, which is about what is true and what is not true.
00:22:32.000The reality is that according to the Wall Street Journal, Nvidia and Micron, two companies, account for 34% of the earnings boom in the United States.
00:22:41.000Only 10 companies, Broadcom, Meta Platforms, again, all of these in the tech industry, account for roughly two thirds of all profit growth in America's earning boom.
00:22:53.000Again, look at the contributions to SP 500 third quarter earnings growth from one year earlier.
00:23:48.000And now we're going to be led by former DNC Vice Chair David Hogg, a complete stick figure idiot of a human, who says, So being anti billionaires, anti war, anti AIPAC, and anti data centers is now the moderate position.0.96
00:24:19.000Again, I understand why people are upset that the tech bros, who all seem to be a bunch of weirdos from Silicon Valley with no relation to actual humans, are the ones making these things.
00:24:28.000And there are ways to restrict development of AI that prevents its worst abuses.
00:24:34.000But you don't destroy the means of production because somebody uses that stuff wrong.
00:24:39.000Okay, so if you are worried that somebody is using electricity in order to power a chainsaw, to murder someone, you don't destroy the electrical grid.
00:24:50.000You somehow try to target, you know, the chainsaw using guy who's trying to murder someone.
00:24:55.000But instead, because people don't like certain uses and abuses of AI, they've decided what if we just destroy the entire means of production?
00:25:02.000What if we just get rid of the data centers?
00:25:09.000If your idea is, I don't like drunk people driving cars and getting into crashes and killing people, therefore, we should just destroy all the oil refineries or shut them down, this would be a bad idea.1.00
00:25:21.000And yet, the American people are moving in that direction, thanks in large part to propaganda and foolishness.
00:25:27.000According to CNBC, there were 41 local ballot measures in 10 states up for a vote on Tuesday that replaced restrictions on the construction of data centers in different ways, according to Ballotpedia.
00:25:35.000Voters sided against data centers in each measure, except one in Harwood, North Dakota.
00:25:39.000Ohio alone accounted for more than half the measures, with 21 on the ballot.
00:25:45.000There were 27 measures that passed that restricted opposition to data center development and 13 pro data center measures that were defeated.
00:25:54.000Democrats who campaigned on pausing or regulating new projects won key races in Ohio, Wisconsin, Georgia, and Texas.
00:26:01.000According to the polling data, by the way, the exit polls, thinking about your vote for Congress, how important was AI data centers?
00:26:17.00062% of people who said so were Democrats.
00:26:21.000As far as who is better able to handle AI, again, it's the NBC News exit polls from the other day.
00:26:29.000The total 30% Democrats, 95% of whom voted for Democrats.
00:26:37.000Republicans, 27%, 94% of whom voted for Republicans.
00:26:42.000Independents, 58% said they trust the Democrats to handle AI.
00:26:46.000We're going to find out whether that trust is well placed or not.
00:26:49.000Again, all of this makes you worry about the economy, worry about things like inflation, because it turns out economic growth undergirds the power of the US dollar.
00:26:57.000Well, you might want to diversify just a little bit into precious metals.
00:27:01.000And if you're going to do so, you should check out my friends over at Golden Crest.
00:27:03.000They focus on widely recognized coins, transparent pricing, zero buyback fees, and real people answering the phone.
00:27:09.000Get their free 2026 Precious Metals Info Kit.
00:27:12.000Learn how eligible retirement funds may be used to purchase physical precious metals.
00:27:21.000Text Ben's Metals at 638 257 or head on over to goldencrestmetals.comslash Ben.
00:27:26.000Again, when you look at the stock market performance, when you worry about the future, when you think to yourself, hey, is the government just going to inflate its way out of its gigantic debt problem?
00:28:15.000But if you look at Balance of Nature inside their whole health system, you'll find stuff you recognize apple, broccoli, ginger, turmeric, psyllium, and many more.
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00:28:58.000Now, some people are trying to, I would say, make lemonade from the lemons.0.98
00:29:05.000Bloomberg has a completely idiotic piece today suggesting that the data center backlash will lower the odds of an AI investment bust.0.91
00:29:13.000Quote, around half of planned expansion nationwide is vulnerable to increased scrutiny and pushback from Democrats.0.98
00:29:18.000Who clinched historic victories in states like Texas, Georgia, and Ohio?
00:29:21.000The impact will depend on the specific shape any new restrictions might take.
00:29:24.000About 45% of planned data center capacity is in states where newly elected Democrats campaigned on such limits, according to Goldman Sachs estimates.
00:29:32.000Texas alone accounts for 25% of the total, and Gina Hinojosa, the first Democrat to be elected governor there since 1990, has vowed to halt new approvals.
00:29:41.000Georgia and Ohio are also getting Democratic governors for the first time in decades.
00:29:45.000In Georgia, Keisha Lance Bottom's campaign on a statewide pause.
00:29:47.000Amy Acton has proposed stricter conditions on new projects as well.
00:29:52.000Brett Ryan, the economist at Deutsche Bank, says if some of these moratoriums or regulatory pressures slow some of this build out, it almost prevents you from blowing up too big of a bubble.
00:30:00.000This is like a good excuse to kill some projects that were already looking shaky.1.00
00:30:21.000And then there will be a natural adjustment in the market and fewer data centers will be built.
00:30:25.000When you force A destruction of data center projects.
00:30:29.000What you are doing is limiting the supply, which limits the build out, not just of the data centers, but all the things that are built on the data centers, all the platforms, all the new tech.
00:30:41.000Again, there's a difference between a company overproducing ice cream and you telling a company it is not allowed to produce the ice cream.
00:30:52.000And you telling the company it's not allowed to produce an ice cream is a violation of basic property rights.
00:30:57.000Again, whatever you think of AI, if AI is powering our growth right now, its dip does affect you.
00:31:18.000And again, Democrats, they're going to go full bore against this because populist economics suggest that if you don't understand it, you ought to ban it.
00:31:24.000So here is Texas Governor Gina Hinojosa.
00:31:30.000I would issue a moratorium on any new data centers until the legislature can pass laws to protect Texans.
00:31:38.000Everything from water to electricity, jobs, all of it, right?
00:31:42.000Making sure we have guardrails when it comes to AI.
00:32:17.000But if it's not, then it'll be built wherever else it can be built.
00:32:22.000So here's Bernie Sanders with his economic populism drawn straight from the annals of the Soviet Union in Cuba.
00:32:30.000Democrats must enact a national moratorium on AI data centers, must pause advanced AI development, and ban super intelligence.
00:32:42.000And By the way, I might mention that yesterday in the election, in dozens of communities throughout our country, citizens voted for a moratorium on the construction of data centers.
00:32:57.000In other words, a moratorium on data centers is exactly what the American people want.0.97
00:33:45.000I embrace technology that enhances the human experience, but I don't want to empower transhumanists who want technology to supplant the human experience.
00:33:55.000And some of these people in Silicon Valley, you ask them, hey, would it be better if machines just emplaced the human race entirely?0.86
00:34:02.000And they'll be like, well, they can't answer the question.
00:34:18.000But if it's just trying to replace Americans, if it's saying, oh, yeah, you're all just going to be on a universal basic income and you're going to get a check.
00:34:26.000So I think we need to bring some more balance to the Republican view of how you handle big tech.
00:34:48.000It happened in the information revolution, it happened with the industrial revolution.
00:34:52.000That's just a constant of human history.
00:34:53.000So, unless he has a way to determine which jobs ought to be protected and which ones ought not, or why should another way of explaining that is which things ought to be expensive and which things ought to be cheap.
00:35:08.000I think there are things that we should restrict about AI.
00:35:09.000Again, if you want a human teaching your kid not AI, I totally get it and I agree.
00:35:15.000If what you're arguing is that the AI bros are programming the AIs in ways that are counter America's interests, and they're programming them with woke nonsense.
00:35:32.000But if the idea is that we can sit and pick and choose which jobs are sacrosanct and which jobs are not sacrosanct, and so we're going to end up pulling the plug, that will be the natural consequence.
00:36:18.000Silicon Valley is trying to make money.
00:36:20.000And honestly, I don't blame them because they have fiduciary responsibility to their shareholders, if they're a public company, especially to maximize value.
00:36:29.000So, I just think we need some balance.
00:36:33.000Well, I mean, again, I don't think that you have to take the tech bros.
00:36:38.000As the indicator of whether China is trying to beat us.
00:36:39.000This is sort of like saying that because there are companies that would want to sell missile technology to the Chinese, therefore the Chinese are not trying to develop superior missile technology.
00:37:14.000Well, you know, if you think so, head on over to dailywire.comslash subscribe to watch the full show ad free or check out this crazy story here.