The Ben Shapiro Show - August 13, 2025


Trump TAKES OVER Washington DC?!


Episode Stats

Length

1 hour and 9 minutes

Words per Minute

194.61409

Word Count

13,490

Sentence Count

928

Misogynist Sentences

4

Hate Speech Sentences

22


Summary

Trump takes over Washington, D.C., plus a Gallup showing that Bernie Sanders is the most admired politician in America. What does that mean? The latest on the markets, a Ukraine meeting coming up between President Trump and Vladimir Putin, and tons of stuff first. It s summer s last stand.


Transcript

00:00:00.000 Already, folks, a ton coming up on today's show.
00:00:02.000 President Trump taking over Washington, D.C., plus a Gallup showing that Bernie Sanders is the most admired politician in America.
00:00:09.000 What does that mean?
00:00:10.000 The latest on the markets, a Ukraine meeting coming up between President Trump and Vladimir Putin, just tons of stuff first.
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00:01:41.000 Well, significantly longer than I've been alive, Washington, D.C. has been somewhat of a hellhole.
00:01:46.000 And by this I mean that it's a very, very high crime area.
00:01:49.000 And it always has been.
00:01:50.000 When I say always, I mean for decades, it has been a very high crime area.
00:01:53.000 And President Trump has decided he is done with this.
00:01:56.000 Under the Constitution of the United States, the federal government has control over the District of Columbia, Washington, D.C. Constitution, Article 1, Section 8, Clause 17.
00:02:06.000 Congress has authority to exercise exclusive legislation in all cases whatsoever over such district, as may be, says as may by cessation of particular states and the acceptance of Congress become the seat of the government of the United States.
00:02:19.000 That was the establishment of Washington, D.C. under the Constitution.
00:02:22.000 It was supposed to be whatever, 10 square miles, and that became Washington, D.C. Now, the Congress of the United States has delegated some authority to local home rule under the District of Columbia, Home Rule Act of 1973.
00:02:36.000 An elected mayor was created as well as a city council that allowed for a degree of self-government, but Congress retains the power to approve or overturn DC laws and budgets.
00:02:47.000 And the Home Rule Act bars the D.C. Council from certain actions.
00:02:50.000 So that action remains in the hands of the federal government.
00:02:54.000 All council legislation is subject to a congressional review period.
00:02:57.000 The president also does have the authority to control the D.C. National Guard directly under, again, that Home Rule Act.
00:03:04.000 The President can temporarily take direct control of the city's police force if he determines that there is a specific emergency condition that exists and that police services are necessary are necessary for federal purposes.
00:03:15.000 Such control can last up to 48 hours, maybe extended with notification congressional committees.
00:03:19.000 So bottom line is President Trump has absolute plenary authority over things like deploying the National Guard into Washington, D.C. to stop crime.
00:03:28.000 That's precisely what President Trump has decided to do on Monday.
00:03:31.000 He said he's taking over Washington's police department and activating 800 members of the National Guard in hopes of reducing crime.
00:03:38.000 City officials keep saying everything is fine over there, but nobody who lives in Washington, D.C. actually believes things are fine.
00:03:43.000 They may not like President Trump.
00:03:44.000 They may not like the idea that President Trump's intervening, but pretty much nobody in Washington, D.C. believes that everything is hunky dory.
00:03:51.000 Every year in Washington, D.C., there are approximately 200 homicides or so.
00:03:56.000 President Trump put out a statement on Truth Social.
00:03:59.000 Quote, we are having a news conference tomorrow in the White House.
00:04:02.000 I'm going to make our capital safer and more beautiful than it ever was before.
00:04:05.000 The homeless have to move out immediately.
00:04:07.000 This, of course, is making people very angry on the left because presumably they would like Washington, D.C. to remain like Seattle or Portland or Los Angeles, a gigantic way stop for vagrants.
00:04:18.000 We'll give you places to stay, but far from the Capitol, says the president.
00:04:21.000 The criminals, you don't have to move out.
00:04:23.000 We're going to put you in jail where you belong.
00:04:24.000 It's all going to happen very fast, just like the border.
00:04:27.000 We went from millions pouring into zero in the last few months.
00:04:29.000 This will Be easier, be prepared.
00:04:31.000 There will be no more Mr. Nice Guy.
00:04:33.000 We want our capital back.
00:04:34.000 Thank you for your attention to this matter.
00:04:37.000 And then he included a bunch of pictures of vagrancy and litter all over Washington, D.C. to demonstrate what it is that he wishes to get rid of.
00:04:45.000 So then the president actually gave that press conference.
00:04:48.000 And in a second liberation day, first liberation day was tariff day, which again, I'm not a big fan of.
00:04:54.000 I'm not sure that was really a liberation, but the idea that you are liberating a city when you allow for people to live there safely and happily without the predations of crime, that actually is a liberation.
00:05:05.000 Here's the president of the United States announcing that.
00:05:10.000 This is Liberation Day in DC, and we're going to take our Capitol back.
00:05:15.000 We're taking it back under the authorities vested in me as the President of the United States, I'm officially invoking Section 740 of the District of Columbia Home Rule Act.
00:05:27.000 You know what that is?
00:05:28.000 And placing the DC Metropolitan Police Department under direct federal control, and you'll be meeting the people that will be directly involved with that.
00:05:40.000 Now demonstrators immediately gathered outside to whine about this, including the District of Columbia Attorney General Brian Schwab, who said there's no crime emergency in the District of Columbia, which um there has been for literally years, for literally years.
00:05:54.000 And President Trump said, and this is Monday, that you know, even if you're a liberal, you might not want people to be murdered on the streets.
00:06:02.000 I understand a lot of you tend to be on the liberal side, but you don't want to get uh you don't want to get mugged and raped and shot and killed.
00:06:11.000 And you all know people and friends of yours that that happened.
00:06:15.000 And so you can be any anything you want, but you want to have safety in the streets.
00:06:20.000 You want to be able to leave your apartment or your house where you live and feel safe and go into a store to buy a newspaper or buy something.
00:06:29.000 And you don't have that now.
00:06:32.000 By the way, this is right.
00:06:33.000 This is right.
00:06:34.000 And but and this is also a model that I would hope that Republicans all over the country run on in blue cities.
00:06:39.000 I was encouraging when I was a California resident, every Republican gubernatorial candidate from the Republican Party to run on crime, to run on homelessness, and they all instead decided idiotically to run on education.
00:06:51.000 I remember it being a big annoyance.
00:06:53.000 But the president of the United States is correct.
00:06:55.000 It turns out that quality of life issues, like for example, your streets not being covered with mentally ill drug abusers or people who are criminals breaking into your car every five seconds.
00:07:04.000 It turns out that's good for everyone.
00:07:07.000 The president pointed out that for all the talk about how there's no crime emergency in Washington, D.C., well, they do have a higher murder rate than Bogota, Colombia or Mexico City.
00:07:17.000 The murder rate in Washington today is higher than that of Bogota, Colombia, Mexico City, some of the places that you hear about as being the worst places on earth, much higher.
00:07:31.000 This is much higher.
00:07:32.000 The number of car thefts has doubled over the past five years, and the number of carjackings has more than tripled.
00:07:41.000 Murders in 2023 reached the highest rate, probably ever.
00:07:46.000 They say 25 years, but they don't know what that means because it just goes back twenty-five years.
00:07:53.000 The President of the United States then added that Washington, D.C. will no longer be treated as a sanctuary city where illegal immigrants can congregate.
00:08:00.000 That of course has been a main plank for his presidency since well before his presidency.
00:08:05.000 He ran out in 2015.
00:08:06.000 It's now 2025.
00:08:07.000 Here's the president.
00:08:09.000 This city will no longer be a sanctuary for illegal alien criminals.
00:08:14.000 We will have full, seamless, integrated cooperation at all levels of law enforcement, and we'll deploy officers across the district with an overwhelming presence.
00:08:24.000 You'll have more police, and you'll be so happy.
00:08:29.000 Because you'd be safe when you walk down the street, you're gonna see police or you're gonna see FBI agents, we're gonna have a lot of agents on the street.
00:08:37.000 You're gonna have a lot of uh essentially military, and and we will bring in the military if it's needed, by the way.
00:08:46.000 Now, listening to the complaints, we'll get to in a moment from the left is totally insane.
00:08:50.000 I mean, disconnected from reality utterly.
00:08:52.000 There's a theory of crime by a thinker named James Q. Wilson that became very prevalent on the right in the 1970s and 1980s, Particularly in places like New York City, which are very high crime cities at the time.
00:09:04.000 And his basic theory was called broken windows theory.
00:09:07.000 The idea was, and there's good sociology to back this up, that if you live in an area where somebody smashes the window of a car and you leave it unfixed, pretty soon people start smashing all the windows on the car, and then they start smashing the windows on the apartment buildings, and pretty soon you've wrecked the neighborhood.
00:09:20.000 The reason being, once people detect, there's a dark side to human nature.
00:09:24.000 Once human beings detect vulnerability, once they detect the possibility of being able to do things like break car windows, and nobody does anything about it, well, then they just take over the neighborhood.
00:09:34.000 And so the idea here is more people on the streets to police crime.
00:09:38.000 Again, this is all very simple stuff, and this is the kind of stuff President Trump is great at.
00:09:41.000 He's just cutting the Gordian knot.
00:09:43.000 Everybody keeps saying that crime problems are unbelievably complicated.
00:09:46.000 That is not true.
00:09:48.000 If you wish to stop crime, you put cops in high crime areas and you keep them there.
00:09:52.000 If you wish there to be less crime, you take criminals and you put them in jail.
00:09:56.000 And if you wish them to be in jail for a longer period of time, that is not a terrible thing.
00:10:00.000 And if you wish for people not to be released back onto the street immediately after committing a crime, that is also not a terrible thing.
00:10:08.000 The president says that Washington, DC is supposed to be sort of showpiece for the nation.
00:10:12.000 And instead, if it's gross and filled with crime, well, then that's a bad look for the country.
00:10:17.000 Here he talks about that.
00:10:20.000 My father always used to tell me I had a wonderful father, very smart.
00:10:24.000 And he used to say, son, when you walk into a restaurant and you see a dirty front door, don't go in.
00:10:32.000 Because if the front door is dirty, the kitchen's dirty also.
00:10:37.000 Same thing with the Capitol.
00:10:39.000 If our capital's dirty, our whole country is dirty, and they don't respect us.
00:10:45.000 Already, folks, coming up, the Democrats react to President Trump trying to quell crime in Washington, D.C. They're not taking it well.
00:10:51.000 Plus, a new Gallup poll showing that Bernie Sanders is the most popular politician in America.
00:10:57.000 Unbelievable.
00:10:58.000 First, is the continued divide between President Trump and the Federal Reserve putting us behind the curve again.
00:11:02.000 Can the Fed take the right action at the right time?
00:11:04.000 Or are we going to be looking at a potential economic slowdown?
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00:13:14.000 Now, people who are complaining about what President Trump is doing here, people who are suggesting it's authoritarian.
00:13:18.000 Number one, he has the constitutional authority to do this.
00:13:21.000 Congress will have to green light it in 30 days or so.
00:13:24.000 Undoubtedly, Congress will.
00:13:26.000 Then there are the people who are suggesting that the crime rates aren't that bad in Washington, D.C. Well, here is the problem.
00:13:31.000 Even if you believe that the crime rates have gone down in the last year or so, they are still so much higher than the rest of the United States that it boggles the mind.
00:13:40.000 Here, for example, is a chart of monthly homicides per 100,000 residents from January 2000 to December 2024.
00:13:46.000 And what you see is that the United States as a whole is somewhere around .5 homicides per 100,000 residents.
00:13:53.000 So essentially, if you have 200,000 people living in a given area of the United States, one of them might be murdered every month.
00:13:59.000 That's the normal rate across the United States.
00:14:01.000 In the District of Columbia, it has varied, but it went as high as three, over three, right?
00:14:08.000 Six times the national rate as of 2023.
00:14:12.000 And then it dived again.
00:14:13.000 And when it dived, it is still at 1.5.
00:14:16.000 So it's still three times the national rate.
00:14:19.000 How about motor vehicle thefts and carjackings?
00:14:22.000 DC is the carjacking capital of America, not just the capital of the United States.
00:14:26.000 And again, what you see here is that the normal American rate of monthly motor vehicle theft for 100,000 residents is somewhere in the neighborhood of 20.
00:14:35.000 Okay, and then you take a look at the D.C. And what you see is 61 in December of 2024.
00:14:43.000 So three times the national rate.
00:14:45.000 So yes, this is a very, very high crime area.
00:14:48.000 This is clearly a high crime area.
00:14:50.000 Which is why presumably the DC police union chairman Gregory Pemberton has endorsed federalization here.
00:14:57.000 Well, look, we completely agree with the president that that crime in the District of Columbia is out of control and something needs to be done with it.
00:15:03.000 Uh we have to go back to how we got here, though.
00:15:05.000 In 2020, the D.C. City Council passed uh an enormous amount of legislation that handcuffed police officers exposes them to administrative, civil, and even criminal liability, even when they do their jobs properly.
00:15:16.000 And now five years later, our authorized sworn strength is 4,000 sworn police officers.
00:15:21.000 We currently have 3,180.
00:15:24.000 So we have more than 800 vacancies for the position of police officer.
00:15:27.000 And the way the department makes up for that gap is through two million hours of mandatory overtime every year.
00:15:33.000 So uh the fact that we need help from federal law enforcement and maybe even the National Guard, it shouldn't come as a surprise.
00:15:41.000 So the way Washington, DC was dealing with that was by falsifying the crime statistics.
00:15:44.000 And this has been something that has happened in again, major cities ranging from places like Chicago to Los Angeles, where they start reclassifying crimes from felonies into misdemeanors and from misdemeanors into nothing.
00:15:55.000 And they'll they'll even reclassify homicides into other arenas of the law.
00:16:01.000 They'll treat it as accidental, or they will instead decide that they are going to investigate and knock it down from a first degree to a second degree.
00:16:10.000 This is the kind of stuff that happens in high crime areas when you are seeking to subvert public knowledge of what it is you are doing.
00:16:16.000 According to, for example, NBC Washington.com, and this is just last year, the Metropolitan Police Department confirmed that one Michael Pullium was placed on paid administrative leave in mid-May.
00:16:28.000 That happened just a week after Pullium filed an equal employment opportunity complaint against an assistant chief, and the police union accused the department of deliberately falsifying crime data.
00:16:37.000 The union claims police supervisors in the department manipulate crime data to make it appear violent crime has fallen considerably compared to last year.
00:16:46.000 Quote, when our members respond to the scene of a felony offense where there is a victim reporting a felony occurred, inevitably there will be a lieutenant or a captain.
00:16:53.000 They will show up on that scene and direct those members to take a report for a lesser offense.
00:16:56.000 Said fraternal order of police chairman, Greg Pemberton, this last year.
00:17:01.000 Instead of taking a report for a shooting or a stabbing or a carjacking, they'll order that officer to take a report for a theft or an injured person to the hospital or a felony assault, which is not the same type of classification.
00:17:11.000 And then they report the crime has gone down.
00:17:13.000 So instead of actually fixing the problem, you just reclassify a classic bureaucratic solution to a very very real world problem.
00:17:21.000 And again, even people who consider themselves somewhat moderate can admit that they're real problems in Washington, D.C. Joe Scarborough over at MSNBC, no ally of the president at this point, read a text on air from a very liberal friend admitting that DC has a major crime problem.
00:17:36.000 I want to read you a text from a someone who uh you I won't say their name, but they're um we'll just say that they're very liberal.
00:17:49.000 And uh he says this may sound controversial, but I'm not totally opposed to Trump's National Guard move in D.C. I know he's doing it for politics, but crime remains rampant.
00:17:58.000 I've had too many friends Carjacked, shot at.
00:18:02.000 None of us will walk more than three blocks after 8 p.m.
00:18:05.000 13 year olds are committing many of these crimes, quite a change from a decade ago when things were much calmer.
00:18:11.000 Well, that actually sounds like the DC that I lived in when I lived a block behind the Supreme Court.
00:18:18.000 And, you know, every three days, some one of my neighbors was getting held up at gunpoint.
00:18:25.000 So has the left responding to this?
00:18:27.000 With their usual sort of subtlety.
00:18:30.000 They're now claiming that President Trump is a racist.
00:18:31.000 Because of course, Washington, D.C. is heavily black, so this means that if he wants to police crime in Washington, D.C., it's not about the crime, it's about the race.
00:18:39.000 According to the Associated Press, President Donald Trump has taken control of D.C.'s law enforcement and ordered National Guard troops to deploy onto the streets of a nation's capital, arguing the extraordinary moves are necessary to curb an urgent public safety crisis.
00:18:51.000 Even as district officials questioned the claims underlying his emergency declaration, the Republican president promised a historic action to rescue our nation's capital from crime, bloodshed, bedlam, and squalor, and worse.
00:19:02.000 His rhetoric echoed echoed that used by conservatives going back decades, who have denounced cities, especially those with majority nonwhite populations or led by progressives as lawless or crime-ridden and in need of outside intervention.
00:19:13.000 Ah, so that's it.
00:19:14.000 That's it.
00:19:15.000 It must be because there are too many black people in DC that President Trump is doing that.
00:19:19.000 It can't be because it's a high crime area, of course.
00:19:24.000 To some, according to the Associated Press, it echoes uncomfortable historical chapters when politicians used language to paint historically or predominantly black cities and neighborhoods with racist narratives to shape public opinion and justify aggressive police action.
00:19:38.000 Oh, yeah, yeah.
00:19:39.000 So basically leave your city a crime-infested cesspool to avoid what?
00:19:44.000 The supposed implication that no one is making that's about race.
00:19:49.000 You wonder why there was an anti-woke backlash.
00:19:52.000 This would be the reason.
00:19:54.000 2024 was in fact a backlash to everything that the left did in 2020, from COVID to BLM.
00:20:00.000 And yet the left continues along these lines.
00:20:03.000 So for example, you have Mayor Muriel Bowser saying that the actual solution here is statehood for Washington, D.C. to prevent the president of the United States from fixing the crime problem.
00:20:16.000 My message to residents is this.
00:20:20.000 We know that access to our democracy is tenuous.
00:20:24.000 That is why you have heard me and m many, many Washingtonians before me advocate for full statehood for the District of Columbia.
00:20:35.000 We are American citizens.
00:20:38.000 Our families go to war.
00:20:40.000 We pay taxes and we uphold the responsibilities of citizenship.
00:20:45.000 And while this action today is unsettling and unprecedented, I can't say that given some of the rhetoric of the past, that we're totally surprised.
00:20:58.000 I mean, I'm sorry, this is ridiculous, and it's particularly ridiculous because Mayor Muriel Bowser is responsible for that giant spike in crime that happened over the course of the last few years.
00:21:07.000 You'll recall back in 2020 when defund the police was painted in front of the White House.
00:21:12.000 And then it turned out it was very difficult to get anyone to sign up for the DC police because they were afraid that if they actually did their job, they would be unable to actually continue living in public.
00:21:23.000 They might be arrested for doing their job.
00:21:25.000 Here, for example, is retired NYPD sergeant Felipe Rodriguez pointing out that D.C. has been trying to give giant bonuses and still no one will come.
00:21:36.000 Look at Washington, D.C. They're giving a $25,000 bonus, and they still can't get anyone to take the job.
00:21:41.000 You know, post-Floyd, post-COVID.
00:21:43.000 The law enforcement is no longer seen as an honorable way to a profession.
00:21:48.000 And we're we're suffering, and the public is suffering, so something has to get fixed.
00:21:53.000 So again, the the left has come up with two narratives here to respond to the fact that D.C. is a crime-ridden problem.
00:22:00.000 Number one, this is all racist.
00:22:02.000 So the Congressional Black Caucus put out a statement.
00:22:09.000 Well, we don't know yet the full impact this decision will have on D.C. and the black and minority communities, Trump has suggested he may target next.
00:22:15.000 We do know this.
00:22:16.000 Militarized over policing will inevitably lead to increased fear and mistrust among communities that have too often been treated as occupied populations rather than as citizens who deserve to be served and protected.
00:22:26.000 Wait, uh is the implication here that National Guard and cops that these are occupying forces?
00:22:32.000 You mean actual mechanisms of law enforcement are the occupying forces?
00:22:37.000 Is there some sort of counterinsurgency that I'm not aware of?
00:22:39.000 Is there an insurgency in Washington, D.C. that we are unaware of?
00:22:42.000 If so, then probably we should send in the military and not the cops.
00:22:46.000 So angle number one is that Trump must be a racist.
00:22:48.000 Angle number two is January 6th.
00:22:51.000 Because again, when you got nothing else, you go into the cabinet, you grab the January 6th bottle, and you just smack somebody over the head with it.
00:22:57.000 So here, for example, is Dana Bash suggesting that President Trump doesn't care about violence in Washington, D.C. After all, January 6th.
00:23:08.000 The most violent moment in recent history in DC was January 6th.
00:23:14.000 And it was an attack on the United States Capitol by a lot of people who were doing it in the name of Donald Trump, and it included the people who were hurt, included members of law enforcement.
00:23:26.000 So, first of all, that is not even remotely true.
00:23:28.000 If you're talking about the most violent days in recent history in the nation's capital, you could go back to September 4th of 2021, when three people were killed in a Labor Day triple homicide.
00:23:37.000 Or you could go back to Memorial Day weekend in 2025, when four people were killed and multiple people were wounded.
00:23:42.000 Or you could go back just a couple of months ago to May, when two members of the Israeli embassy staff were murdered on the streets of Washington, D.C. Or it could go back just about two months ago also, when a couple of people were killed and one wounded in another violent incident in Washington, D.C. It turns out there's lots of violence in Washington, DC.
00:24:00.000 But again, January 6th, they they like to scream it so that they can make excuses for what?
00:24:05.000 Defending crime at this point.
00:24:07.000 Rob Henderson, who he had on last week, right?
00:24:10.000 The philosopher who works for Manhattan Institute.
00:24:12.000 So he talked about the concept of luxury beliefs, the idea that people on the ground in real areas, all they want is better quality of life.
00:24:19.000 And then there are a bunch of people who are not subject to the same problems who say that the real problems of life, the real problems are, you know, things like greenhouse gas emissions, things like air conditioning, things like overpopulation.
00:24:32.000 Those are all problems for not them, and also not poor people, but poor people get to bear the brunt of actual problems being ignored.
00:24:41.000 Well, I think I found the platonic example.
00:24:42.000 The platonic example is MSNBC's Anon Jurad Hardis.
00:24:46.000 Okay, so he was trying to explain why he is opposed to President Trump fighting crime in Washington, D.C. And and this right here is legitimately the platonic example of a luxury belief system.
00:25:01.000 When I go to DC, I'm not afraid of losing my wallet so much as I'm afraid of losing my vote.
00:25:07.000 I'm not afraid of losing my wallet so much as I'm afraid that my children's freedom to breathe will be stolen in a world where climate change policy is non-existent.
00:25:19.000 What in the world?
00:25:21.000 So he he's worried when he goes to Washington, D.C., he's mostly worried that there will be not enough regulation of carbon emissions.
00:25:32.000 Luxury beliefs up to wazoo for this guy.
00:25:34.000 First of all, I don't know what's going on with his hair, but really he needs to tame that.
00:25:37.000 That's a main right there.
00:25:39.000 It looks like he got his hair styling tips from from Syndrome from the Incredibles.
00:25:43.000 That that is a solid, solid.
00:25:46.000 That's a solid hair man.
00:25:49.000 But that is a luxury belief system.
00:25:51.000 When I go to Washington, D.C., I'm not worried about my wallet being stolen.
00:25:54.000 People are literally taping signs to the inside of their car windows saying my window's been smashed four times.
00:26:00.000 I can't afford a fifth.
00:26:01.000 There's nothing in the car.
00:26:02.000 Please leave it alone.
00:26:04.000 And this is where they choose to go.
00:26:06.000 Truly amazing stuff.
00:26:07.000 But don't worry, there's more of that came from.
00:26:08.000 Here is former Chuck Schumer policy leader Jim Kessler explaining that actually only the brave live in Washington, D.C. You know, that's the important thing.
00:26:17.000 If you're complaining about crime, well, it's because you're a giant pansy, obviously.
00:26:22.000 We are down 400 police officers from last from last year.
00:26:27.000 Okay.
00:26:28.000 Okay.
00:26:28.000 And 900 from our peak because stealing our money away.
00:26:32.000 So let's cut our local.
00:26:34.000 Nothing to do with defunding the police.
00:26:35.000 No, no, it had nothing to do with defunding the police.
00:26:38.000 It had to with taking our money away, our taxpayer dollars here.
00:26:41.000 If people are afraid to come to DC, go to Disney World, get fat, eat French fries.
00:26:46.000 I don't care.
00:26:46.000 I've lived here 37 years.
00:26:48.000 I am not afraid.
00:26:49.000 I live in the city.
00:26:51.000 I'm not afraid of this thing.
00:26:52.000 If you're afraid, go ahead, leave your fear someplace else.
00:26:57.000 You know, I I am enjoying Democrats doing this Routine.
00:27:00.000 Like we wreck a city.
00:27:01.000 And if you don't like it, you can just leave.
00:27:03.000 Well, you know what?
00:27:03.000 People are leaving.
00:27:04.000 People are leaving.
00:27:06.000 It just goes to show you why the left is so unpopular.
00:27:08.000 Because if your response to major crime problems, to serious lifestyle problems in your major cities is, well, you can just leave and go to Disney World and get fad and your French fries.
00:27:18.000 If that is your response, you're going to keep losing.
00:27:21.000 Already coming up, new Gallup poll shows that Bernie Sanders is the most popular politician in America, which is frightening as hell.
00:27:27.000 Plus, we'll get into this very controversial deal that was just made between NVIDIA, the Chinese government, and the American government first, feeling overwhelmed by those back taxes.
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00:28:36.000 Also, you know, we're all constantly snapping photos on our phones these days, but what about those precious memories before you had a smartphone?
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00:29:03.000 And we did this myself.
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00:29:39.000 And again, I think this demonstrates, it really does demonstrate the difference between real life between people who touch grass and people who spend too much time online.
00:29:46.000 I've said this about President Trump before.
00:29:48.000 One of the benefits of President Trump is that he is not particularly online.
00:29:51.000 He really doesn't spend time on X. The president of the United States is not trolling social media.
00:29:56.000 He will use social media to troll others, but he is not sitting there all day browsing his responses on X. He isn't.
00:30:04.000 Meanwhile, apparently all of his opponents are.
00:30:06.000 And so what they are doing is they are running themselves into every political box canyon they can find.
00:30:11.000 It's kind of fascinating.
00:30:13.000 And that seems to hold across the board.
00:30:15.000 So you'll recall that there was a two-week-long controversy in our very mature country over Sidney Sweeney's chesty ad for American Eagle, where everyone in the world had a take on Sidney Sweeney's ad.
00:30:27.000 So how many Americans actually thought that it was really, really offensive?
00:30:30.000 It turns out pretty much no one.
00:30:32.000 So we had a controversy over nothing.
00:30:34.000 Great job, everybody, according to an economist Ugov poll conducted August 9th to 11th.
00:30:40.000 People asked whether they found the advertisement more offensive or more clever.
00:30:45.000 And what the survey found is 39% found the ad clever.
00:30:53.000 And 8% were unsure.
00:30:55.000 So 12%, about the percentage of Americans who believe Elvis is still alive, thought that this ad was deeply offensive.
00:31:03.000 Again, this notion that the left has to latch on to every 20% issue, like as in 20 versus 80, it is amazing.
00:31:12.000 It also happens to be the case that President Trump has a better feel for this than the vast majority of politicians.
00:31:18.000 So we have now spent a couple of months on this Epstein story.
00:31:23.000 Or Epstein non-story as the case may be, because again, there have not been any new revelations, and nothing new appears to be forthcoming.
00:31:30.000 A Manhattan judge over the last couple of days denied the Trump administration's bid to unseal the Glaine Maxwell grand jury transcripts.
00:31:37.000 That of course is not a shock.
00:31:40.000 He apparently said that a public official lawmaker pundit, ordinary citizen, deeply interested and concerned about the Epstein matter who reviewed these materials, expecting to learn new information about Epstein and Maxwell's crimes and the investigation into them would come away feeling disappointed and misled.
00:31:54.000 There is no there.
00:31:55.000 That is what the judge wrote.
00:31:57.000 Okay, so how many Americans care about this?
00:32:00.000 If you listen to the media, the answer is 197% of Americans are deeply, deeply ensconced in the details of the Epstein case.
00:32:08.000 They just wake up every morning wondering about Epstein.
00:32:11.000 If you listen to the media, there are people not yet born who are deeply fascinated by the Epstein case.
00:32:16.000 So what are the actual stats?
00:32:17.000 The answer is remember that day when President Trump, like the day after the DOJ and FBI put out that statement saying that there was no evidence that Epstein was running a child sex ring on behalf of intelligence agencies, and that the Jeffrey Epstein didn't kill himself stuff wasn't true, that he killed himself.
00:32:36.000 You remember the day after that President Trump said, you know what?
00:32:38.000 This is not a major issue for most Americans.
00:32:40.000 And I said he's right.
00:32:42.000 Right?
00:32:43.000 Meaning that many Americans care, but it isn't a major, this isn't the list of top like hundred issues for most Americans.
00:32:50.000 Again, the president has better feel for that than many others.
00:32:52.000 Here was Harry Empton explaining.
00:32:56.000 I would say that this is from at least a political uh point of view quickly turning into a dud of a story.
00:33:01.000 What am I talking about here?
00:33:03.000 Which is wild.
00:33:04.000 Which is wild.
00:33:05.000 Which is this has been for three weeks.
00:33:07.000 Exactly.
00:33:07.000 Take a look here.
00:33:08.000 Google searches for Epstein, down 89% versus just three weeks ago, falling through the floor.
00:33:15.000 It is no longer the top term searched alongside Donald Trump's nade.
00:33:19.000 That's been trading off between Taros and Vladimir Putin, with obviously the meeting coming up later this week.
00:33:23.000 But at this particular point, the American people's interest in this story, it's quickly becoming something of a nothing burger.
00:33:32.000 Okay, so again, what the media tell you people are interested in and what people are actually interested in are two different things.
00:33:38.000 What the chattering heads will tell you are the things that matter to people, like you know, greenhouse gas emissions versus what people are actually interested in, like not being killed on the streets, two very, very different things.
00:33:51.000 Now, that doesn't mean that when it comes to politics, there aren't luxury beliefs.
00:33:54.000 There are the biggest luxury belief in politics that actually is held by an enormous number of people.
00:33:59.000 There are a few that actually cross the street from touch the grass to the internet.
00:34:03.000 And because people have not felt the ramifications of those beliefs in a long time in the United States, they continue to adhere to those beliefs.
00:34:10.000 The biggest sort of luxury belief held by a huge number of Americans remains socialism.
00:34:16.000 There are a bunch of Americans who are still in love with the idea of socialism because it seems to solve all of their problems, both emotional and financial.
00:34:23.000 The idea is that if you're not doing well in American society, it must be somebody else's fault.
00:34:28.000 There's a giant conspiracy that can only be cured by handing over to a cadre of an unbelievably powerful people in government control over everybody's life.
00:34:37.000 This is always a temptation.
00:34:39.000 I point this out because the right is looking at the left and they're riding high.
00:34:43.000 He's looking at the Democrats and they're saying, you guys are really, really unpopular.
00:34:46.000 There are some problems.
00:34:47.000 There are some problems here.
00:34:48.000 This is why I've been saying, I'm going to keep saying it.
00:34:51.000 If the economy goes south, this country is in serious, serious trouble.
00:34:55.000 Not because we can't survive a recession we have before and we will again, but because if the country, if our economy goes south, there will be a vast turn toward the socialistic left.
00:35:06.000 And here I point to a Gallup poll that came out August 5th.
00:35:10.000 Among 14 prominent U.S. and global figures, the most positive image held by anybody is Pope Leo, which, of course, is not a giant shock.
00:35:18.000 He's a religious figure.
00:35:20.000 And then number two is Vladimir Zelensky, who continues to hold a 52% favorable rating and a 34% unfavorable rating.
00:35:28.000 But third on that list is Bernie Sanders.
00:35:32.000 Bernie Sanders has a 49% favorable rating, a 38% unfavorable rating with 14% of Americans saying they have no opinion of Bernie Sanders.
00:35:41.000 And you know who comes in number five on the list?
00:35:44.000 Alexander Ocasio Cortez, 34% favorable, 38% unfavorable, 28% no opinion.
00:35:50.000 That puts her at negative four.
00:35:52.000 That means that her approval ratings are better by the spread than JD Vance, who comes in at 38% positive, 49% Negative.
00:36:01.000 Comes in hotter than Donald Trump, 41% positive, 57% negative.
00:36:06.000 Marco Rubio, 31% positive, 47% negative.
00:36:10.000 And Elon, who has the worst of any of the public figures, 33% positive, 61% negative.
00:36:14.000 And this is a problem because Bernie Sanders has stood outside the two party system, shouting socialist nostrils his entire career.
00:36:22.000 He is a career useless person, a leech on the ass of American society.
00:36:25.000 And yet he is somehow seen as a widely admired figure in America.
00:36:30.000 And this bodes ill.
00:36:32.000 It bodes very, very ill.
00:36:34.000 Coming up, Bernie Sanders is a wildly popular politician, according to Gallup, which is insane.
00:36:38.000 Totally insane, because he doesn't know anything about anything.
00:36:41.000 He's just awful.
00:36:42.000 But you know, when it comes to money, you need good advice, not from people like Bernie Sanders, like actual good advice.
00:36:49.000 And then you actually need to put it into practice.
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00:37:56.000 So one of the reasons that Bernie Sanders remains popular is because he stands outside the two-party system, getting nothing done but shouting extremely simple bumper slogans.
00:38:04.000 And and and I think that that is the thing that people are attracted to in Bernie is that Bernie is a purist.
00:38:11.000 He never actually has to come down to Earth to make policy.
00:38:14.000 Instead, he just stands there saying that rich people are rich, not because they provide a good service or product to anybody who wants it, but because they are greedy, that the reason that some are succeeding and others are failing is because the system is rigged against you and the parties themselves are rigged against you.
00:38:32.000 And this is a very convenient stance for somebody in electoral office to take.
00:38:37.000 Because it means nothing is ever his fault.
00:38:39.000 He's not had to change a single thing in American public life.
00:38:41.000 He just gets to stand there shouting at the system.
00:38:44.000 Well, the problem right now for the country is that if the system then fails in some way, people tend to turn to the guy who is shouting at the system from the outside.
00:38:53.000 When I've talked about the Zoran Mamdonification of the Democratic Party, understand that is not Zorn Mamdani's shtick.
00:38:59.000 Okay, Zorn Mamdani is second gen. He is just Bernie 2.0, but more ethnically diverse.
00:39:05.000 The same thing is true of AOC.
00:39:08.000 Bernie is the king maker in this space.
00:39:11.000 And he continues to ride very high, which is why the economy best not fall down.
00:39:15.000 So over the course of the past couple of days, he's doing a lot of TV.
00:39:19.000 And he suggests, for example, that the real problem, the reason that Kamala Harris lost is because she was influenced by wealthy people.
00:39:24.000 It said something pretty tough when you were speaking to this crowd about Kamala Harris.
00:39:31.000 One of the reasons, in my view, that Kamala Harris lost this election is she had too many billionaires telling her not to speak up for the working class of this country.
00:39:43.000 Ouch.
00:39:44.000 Well, no, I think I mean, I don't think that that's I like Kamala.
00:39:47.000 She's a friend of mine, but she was her core um uh consultants, you know, were heavily influenced by very wealthy people.
00:39:55.000 How do you run for president and not develop a strong agenda which speaks to the economic crises facing working families?
00:40:08.000 Again, so convenient for him.
00:40:10.000 So convenient for him.
00:40:12.000 He wasn't the nominee.
00:40:13.000 And Kamala Harris, I mean, again, I think Kamala's awful, but the reason she didn't go full socialist is because she would have lost by more if she'd gone full socialist.
00:40:21.000 But Bernie can sit there and say that the reason that she didn't is because the billionaires bullied her into it or something.
00:40:26.000 And then of course he says the government is run by extremely greedy people.
00:40:31.000 Do you think that in America with all of our genius, all of our capabilities, we spending so much money cannot provide a high quality system that guarantees healthcare to all people?
00:40:42.000 And do you think people here don't know that they know they know we can do it throughout Europe and other countries?
00:40:47.000 You don't have to leave college $50, $100,000 in debt, or a half a million dollars in debt if you go into medical school.
00:40:54.000 That makes zero sensible.
00:40:56.000 Look, let's be clear.
00:40:57.000 And the message of tonight and what I will continue to give.
00:41:00.000 You have a government today that is run by the wealthiest people in this country.
00:41:06.000 They are extremely greedy people.
00:41:08.000 They want it all, and we got to stand up to them.
00:41:13.000 Okay, so again, this shtick, it's ridiculous on its face.
00:41:17.000 The fact is that the government sucks money out of the pockets of Americans at an exorbitant rate, trillions and trillions and trillions of dollars every single year.
00:41:25.000 He says that he wants to live like a person in Italy.
00:41:28.000 Well, he can start by getting rid of his air conditioning in his lake house.
00:41:32.000 That's where he can start.
00:41:33.000 It won't end there, by the way.
00:41:34.000 He can also give up civil liberties, First Amendment rights, and all the rest.
00:41:39.000 But what is the thing that undergirds the Bernie movement?
00:41:42.000 What undergirds the Bernie movement is a seething hatred of the United States, a seething hatred of the West, a belief that the West is somehow morally inferior to other parts of the world.
00:41:53.000 This is why I've said for a while, people on the right who say, how could Zahar Mamdani win despite being radically anti-Semitic?
00:42:01.000 The answer is he won because he's radically anti-Semitic.
00:42:04.000 That is the reason.
00:42:05.000 The left-wing base of the Democratic Party is totally happy to do the third world thing.
00:42:12.000 It is their favorite thing.
00:42:14.000 Bernie Sanders is the kind of person, again, he remains extremely popular with Americans, broadly speaking, because he represents a sort of fantasy version of politics where you snap your fingers and magically everybody has a third car and it's a Ferrari.
00:42:28.000 But he also suggests a system where in the reason some people win and some people lose is not because some people make better decisions than others.
00:42:36.000 It is because there is some sort of overarching conspiratorial system designed to harm other people.
00:42:42.000 I have a new book coming out called Lions and Scavengers.
00:42:44.000 He is a pure example of a scavenger.
00:42:46.000 He has not produced a single thing of value in his entire life, and the man is in his 80s.
00:42:51.000 He's a career useless person, but his entire life has been dedicated to wrecking the systems that have granted him fame and fortune.
00:43:00.000 He's the kind of person who believes that Hamas, you know, the terrorist group that has been stealing something like 90% of all trucks the UN ships in have been hijacked.
00:43:11.000 The food has been stolen.
00:43:13.000 Hamas has been stealing an awful lot of that.
00:43:15.000 They've been shooting people in the streets.
00:43:17.000 But Bernie says, for example, that Hamas, there's no problem with Hamas.
00:43:20.000 Hamas has no responsibility for any of the lack of food in the Gaza Strip.
00:43:27.000 Would you say Hamas has some culpability in people starving?
00:43:31.000 No.
00:43:32.000 Why?
00:43:33.000 When they spent so much money building tunnels and everything under the right now, what is going on is a slaughter.
00:43:41.000 All right.
00:43:42.000 And right now, Israel is, you know, with few exceptions, is in control of the military situation.
00:43:49.000 It is not Hamas's Hamas is a terrible terrorist organization.
00:43:53.000 All right.
00:43:54.000 And I certainly hope they have no future in a new uh Gaza or Palestine.
00:44:00.000 Uh but the fault right now is 100% on a Netanyahu government who has waged an all-out war, committed just I mean, it's war crimes.
00:44:12.000 They are war crimes.
00:44:15.000 Okay, this despicable human being somehow has a plus 11% approval rating with the American people.
00:44:21.000 And the reason that he is saying those things is because the left of the Democratic Party likes to believe that Western powers are responsible for all ills.
00:44:28.000 Western civilization is responsible for all ills.
00:44:31.000 This is the key luxury belief.
00:44:33.000 When we talk about luxury beliefs, you know, the sort of fancy luxury belief has to do with climate change.
00:44:38.000 But the luxury luxury belief is sitting in the West, the beneficiary of hundreds of years of development, particularly in the name of free markets, to sit there and talk about how free markets are the problem, how the West is the problem, and how terrorist groups bear no responsibility for their purposeful starvation of their own citizenry.
00:44:56.000 That is a luxury belief.
00:44:57.000 And it's a luxury belief from a lot of Americans hold.
00:45:00.000 It's a luxury belief because again, the people who actually have to live under regimes like the ones that Bernie Sanders is soft on, you know, like Hamas or in Cuba or in Venezuela, it turns out they don't like it very much.
00:45:13.000 There's a reason why the United States is still the number one destination for people who are seeking to get to a better place on planet Earth.
00:45:23.000 But these luxury beliefs have consequences.
00:45:25.000 Zor Mamdani is currently leading that New York City mayoral race by 20 points in a five-person field.
00:45:31.000 The split continues in the field, by the way.
00:45:34.000 Right now, he has 44% of the vote.
00:45:37.000 Andrew Cuomo has about 25% of the vote.
00:45:39.000 Curtis Sliwa has 12% of the vote.
00:45:42.000 And Eric Adams has 7% of the vote.
00:45:45.000 Now, the problem is that if you add together Cuomo, Sliwa, and Adams, you still end up with about a tie with Mom Dani.
00:45:52.000 So it looks like Mom Dani is going to be the next mayor of New York, and good luck to all of you.
00:45:56.000 Truthfully, good luck to all of you in New York.
00:45:59.000 I hope that you enjoy the ride because you are absolutely buying the ticket, and you deserve what you get if you continue to subsidize a city that wants to vote for somebody like a Zoran Mamdani.
00:46:09.000 And by the way, the hypocrisy continues to be astonishing.
00:46:11.000 Zoran Mamdani is a trust fund baby.
00:46:13.000 He's literally living in a rent control department.
00:46:16.000 He is taking a rent control department away from somebody who presumably would need the rent control.
00:46:21.000 Here's Andrew Cuomo, who again is no great shakes, but is correct for calling out Mam Dani on this.
00:46:29.000 Should only be rented to people who need affordable housing, not people like Zoran Mandami.
00:46:36.000 You don't need to be renting rent stabilized units to wealthy people.
00:46:41.000 Otherwise, what you're doing is you're abusing the system.
00:46:44.000 I'm gonna propose not to rent that apartment by law, except to a person who actually needs affordable housing.
00:46:52.000 And I'm gonna call it Zoran's law because it's an abuse of the system.
00:46:58.000 Okay, well, I mean, he's right about that, but does that matter to the socialists in New York City, who again live on the back of generations of American growth?
00:47:06.000 Of course not.
00:47:07.000 They're gonna rip on Wall Street while Wall Street really built gigantic sections of New York City.
00:47:13.000 Now, I was re-watching the movie Gangs of New York recently, which is, you know, a fun movie.
00:47:18.000 Uh it's it's very dark, obviously.
00:47:19.000 Great performance by Daniel Day Lewis.
00:47:21.000 But the the premise of the movie is that gang warfare in New York built the city of New York.
00:47:26.000 No, it absolutely did not.
00:47:27.000 You know what built the city of New York?
00:47:29.000 Gigantic commerce and investment is what built the city of New York.
00:47:31.000 So you want to shut that down?
00:47:32.000 Good luck to all of you.
00:47:34.000 But this is why I am deeply concerned about the state of the American economy, because if the economy goes south, then schmucks like Bernie Sanders who sit outside or Zoran Mamdanny who sit outside, sit on top of the wonderful things the capitalism has wrought, and then rip on capitalism in the system and talk about how the West and America are evil.
00:47:52.000 Those are the people who are going to be the beneficiary of any sort of serious economic downturn.
00:47:58.000 So, how is that economic downturn going to happen?
00:48:01.000 Well, there are a couple of ways that an economic downturn could happen.
00:48:04.000 One could be that the wages of the trade war continue to come in and that they are worse than currently expected.
00:48:11.000 Now, so far, that has not happened.
00:48:14.000 So far, that is not that has not been the major concern.
00:48:17.000 For example, new inflation report came out.
00:48:20.000 This was yesterday.
00:48:21.000 Inflation held steady in July, even as President Trump's tariff increases left their mark on some consumer prices, keeping a Federal Reserve rate cut in play for next month.
00:48:29.000 Consumer prices were up 2.7% in July from a year earlier.
00:48:32.000 That was below the 2.8% rise expected by economists surveyed by the Wall Street Journal.
00:48:37.000 Prices excluding food and energy categories rose 3.1% over the past 12 months.
00:48:42.000 That's slightly above forecast for a 3% increase.
00:48:46.000 Now, the Fed looks like they are probably going to cut the interest rates by you would imagine 25 basis points at the upcoming Fed meeting next month.
00:48:55.000 And the markets are taking that into account.
00:48:57.000 So today the markets are up specifically because of this, because people believe that that's going to mean the interest rates go down.
00:49:03.000 That means mortgage rates come down a little bit.
00:49:05.000 It means that maybe it's easier to have access to capital and all of the rest.
00:49:10.000 And that's fine.
00:49:12.000 But there are possible there, there are a couple possible reasons as to why inflation has not yet kicked in.
00:49:16.000 One reason may be that it's too soon.
00:49:18.000 One reason may be that demand is already softening.
00:49:20.000 And so if the prices go up and the demand softens, then prices already come down.
00:49:25.000 It could be that we don't have great transparency in the data, which brings up the question Of the data.
00:49:30.000 President Trump has now nominated to lead his Bureau of Labor Statistics, E.J. Antoni of the Heritage Foundation.
00:49:38.000 He's a longtime critic of the agency's handling of jobs data.
00:49:44.000 Apparently, he's going to redo how the stats are done.
00:49:48.000 And honestly, the revamp is called for here.
00:49:51.000 There's something the Wall Street Journal correctly points out that there have been lower and lower response rates to, for example, BLS surveys, which is why the numbers have come in so variable, why there have to be these sort of backfilled reports and all the rest.
00:50:05.000 So there do need to be some fixes right there.
00:50:08.000 The problem is that if the president is perceived as messing around with the internals of economic data, it's going to be hard for people to trust that economic data.
00:50:17.000 And the president has been doing this a little bit.
00:50:19.000 So for example, on Tuesday, the president called for Goldman Sachs chief executive David Solomon to replace the bank's top economist over his past predictions.
00:50:28.000 He said that David Solomon should go out and get himself a new economist because the bank made a bad prediction a long time ago on the market and tariffs.
00:50:35.000 He also questioned whether Solomon himself should just focus on being a DJ, because the bank chief has fun on the side being ADJ.
00:50:42.000 Apparently Trump was referring to a man named Jan Hatsius, the bank's longtime chief economist.
00:50:48.000 Hatsius and his team have been among the many economists who predicted tariff policies who'd dent labor markets cause higher inflation and slow U.S. economic growth.
00:50:55.000 A report by Hatsius and his team on Sunday included an analysis that found U.S. consumers had absorbed 22% of tariff costs through June, but will absorb 67% if recent tariffs follow the same pattern as earlier tariffs.
00:51:07.000 That goes in the stack of maybe it's just taking a little bit of time for all of the burden of the tariffs to kick in.
00:51:13.000 And we're going to find out in short order.
00:51:16.000 Meanwhile, again, if the jobs reports, there's been talk that with the replacement of the head of the Bureau of Labor Statistics, the jobs reports may go quarterly as opposed to monthly.
00:51:25.000 Well, lack of transparency in the economy will indeed lead to more uncertainty about investment in the economy.
00:51:30.000 You don't know which way things are going until you actually have some data.
00:51:33.000 Here's Caroline Lovett at the White House saying they're going to try and keep it going monthly.
00:51:36.000 Will the Bureau of Labor Statistics continue to put out monthly jobs awards?
00:51:42.000 Well, look, what I'll tell you about the Bureau of Labor Statistics, I believe that is the plan and that's the hope, and that these monthly reports will be data that the American people can trust.
00:51:52.000 As you know, uh, the Bureau of Labor Statistics has made massive revisions after the last several points reports that they have put out.
00:52:02.000 And there has certainly been a decline in the quality and the reliability of data coming from the Bureau of Labor Statistics, and there's been an increase in revisions.
00:52:11.000 Okay, you know what we need?
00:52:12.000 We need less action.
00:52:13.000 Okay, we actually just need some level of stasis in the American economy.
00:52:17.000 We need to see how these tariffs play out if President Trump wants to keep them.
00:52:20.000 If it starts to damage the economy, we need President Trump to move in and stop it.
00:52:23.000 We need all those things.
00:52:25.000 If the interest rates are lowered, I am concerned that there will, in fact, be uh a fair bit of bubble in the economy.
00:52:32.000 One of the big problems with the stock market right now is that essentially all gains in the value of the stock market are accruing to the top 10 companies.
00:52:39.000 Like almost to all of them.
00:52:41.000 Over the course of the last couple of years, something like 70% of all market gains in the stock market have gone to the top 10 companies.
00:52:48.000 Because pretty much everybody just piling money into AI.
00:52:51.000 So there's concern.
00:52:52.000 Will AI bust?
00:52:53.000 Will it be like the internet bubble of 99, 2000?
00:52:56.000 There's some smart people who say no.
00:52:58.000 Then much of the infrastructure was what was the problem when it came to, for example, the internet bubble of 99, 2000.
00:53:04.000 It wasn't pets.com going bust.
00:53:05.000 It was really things like Qualcomm.
00:53:07.000 It was major companies that had invested in infrastructure.
00:53:10.000 The infrastructure ended up being overbuilt and underutilized.
00:53:13.000 Is that actually going to happen with these chips?
00:53:14.000 The answer there is probably no.
00:53:15.000 We're going to keep churning those chips.
00:53:16.000 So NVIDIA's stock valuation, for example, is real.
00:53:19.000 With that said, there's a reason why NVIDIA is trying to get the United States government to open the Chinese market to NVIDIA chips, and that has to do with NVIDIA's market cap.
00:53:28.000 And so there is a bit of a catch-22 here.
00:53:31.000 If you go to war with China over AI, if you cut off the NVIDIA chips to China, then yeah, you're stopping China's development of competitive AI, which I think is really important, but you're also going to hurt the stock valuation of maybe the most outperforming stock in the American economy right now, NVIDIA.
00:53:47.000 So the solution that the Trump administration came up with, which frankly I'm not super excited about, is a solution in which the United States allows for the sale of the H20, which is Kind of their second or third, depending on what chip is available, most important chip to the Chinese.
00:54:05.000 And by the way, the networking of those chips using a lot of the other infrastructure that NVIDIA provides in exchange for the United States basically taking 15% of the chip sale revenue.
00:54:18.000 According to the Wall Street Journal, apparently Jensen Huang, who's the chief executive of NVIDIA, he worked for months behind the scenes in Washington and Beijing to protect tens of billions of dollars in future sales from the heated U.S. China trade rivalry.
00:54:30.000 He told President Trump restrictions on U.S. chip sales to China would backfire by pushing China technology champions to achieve self-reliance.
00:54:37.000 He advised the president to keep China hooked on American tech.
00:54:40.000 As a sweetener, Huang said the company would invest as much as $500 billion in the United States.
00:54:45.000 His argument, apparently, along with that half trillion dollar offer, appeared to seal the deal.
00:54:50.000 The Trump administration decided last month to allow China to buy that H20 AI chip.
00:54:55.000 NVIDIA had developed the H20 to comply with past export restrictions as a less powerful chip, specially designed for China.
00:55:01.000 And that, of course, pushed NVIDIA's stock up 4%.
00:55:04.000 Beijing reciprocated by allowing a $35 billion deal involving U.S. chip soft makers, software makers that it had held up for about a year.
00:55:12.000 And they also froze an inquiry into an already completed NVIDIA deal.
00:55:16.000 And then the president demanded that NVIDIA give the federal government 20% of its chip sales to China in exchange for issuing the export licenses.
00:55:22.000 All this sounds very cronyistic to me.
00:55:25.000 I am not in love with it.
00:55:26.000 I really am not.
00:55:27.000 And by the way, I think that it is actually an offshoot of much of the bad China policy that we saw for literally decades.
00:55:34.000 There, the idea was get China hooked on capitalism, and soon there will be political change.
00:55:38.000 Now the idea seems to be get China hooked on H20s, and then they won't build up their own domestic chip production capacity.
00:55:44.000 I do not think that that is the truth.
00:55:46.000 I think China is going to copy that tech.
00:55:48.000 I think they're going to try to rip off that tech.
00:55:50.000 I think that they are going to try to brute force their way to superiority in AI, which has real military ramifications for things like, for example, a possible invasion of Taiwan or dominance in the South China Sea.
00:56:02.000 Again, you could see a geopolitical event spurring a recession.
00:56:06.000 I think President Trump is trying to avoid that with much of his more conciliatory policy toward China.
00:56:11.000 You could also see a bubble being created in the economy in which the Federal Reserve lowers those interest rates, people take out loans at lower rates and then dump them into these AI companies.
00:56:22.000 Some of those AI companies go bust, and suddenly you have not a giant meltdown, but stagnation in the economy in broad ways.
00:56:29.000 And again, this is my number one concern.
00:56:32.000 My number one deregulation, good tax decreases, good, gigantic trade barriers, the government putting its thumb in and out of the economy, picking winners and losers, making sweetheart deals with particular companies like NVIDIA, in which pledges are made, but maybe not fulfilled, or money comes back to the United States government to the tune of three, four billion dollars when China is getting the benefit of the H20 tech.
00:56:57.000 All this seems very, very bubbly to me.
00:57:03.000 It does not give me tremendous confidence as an investor that the next few years are going to be stable, predictable, and booming.
00:57:12.000 I'm I remain concerned.
00:57:13.000 Let's put it that way.
00:57:14.000 Meanwhile, the White House is holding a summit on Friday between President Trump and Vladimir Putin.
00:57:21.000 That, of course, is happening in Alaska.
00:57:23.000 The goal, according to the White House, this is political reporting, is for President Trump to simply take the measure of Putin, find out if Putin is serious, and work toward a trilateral meeting with Ukrainian President Vladimir Zelensky.
00:57:33.000 A White House official basically says that they want to get Trump in the room with Putin and then let him trust his instinct.
00:57:40.000 The administration believes Putin has given signs that demonstrate this time is different.
00:57:44.000 Putin offered a plan, the official said it may not be a viable plan, but there was something on paper which shows progress.
00:57:49.000 I'm sorry.
00:57:50.000 Give me a break.
00:57:52.000 There is something on paper which shows progress.
00:57:54.000 This is like a teacher asking a child to fill in a quiz.
00:57:57.000 The child fills in his name and hands it in.
00:57:59.000 He said, Oh, that's progress.
00:58:00.000 At least they filled in their name.
00:58:02.000 Vladimir Putin needs to put forward an offer that looks like something with a resemblance to what would be a resolution of this conflict, or at least a ceasefire in this conflict.
00:58:12.000 The White House has not divulged exactly what Putin wants, but Trump and NATO Secretary General Mark Rudy have said swapping land for peace, which is an idea that Zelensky is rejecting right now, is on the table.
00:58:24.000 Right now, however, Putin is asking for basically half of Ukraine.
00:58:28.000 He's not asking to freeze the lines where they are.
00:58:30.000 And in the meantime, he's ramming through the front lines of Ukraine.
00:58:34.000 He's radically increasing his military spend and his military action in Ukraine.
00:58:40.000 Just this week, he activated another 110,000 troops to try and exploit a per uh an apparent gap in the Ukrainian lines.
00:58:48.000 Meanwhile, Moscow, according to the Wall Street Journal, sees an opening to reset relations with Washington with Kremlin officials hinting at potential for deals with the U.S. on infrastructure and energy in the Arctic and beyond.
00:58:59.000 Senior Putin aide Kirill Dmitriev says in neocons and other warmongers won't be smiling.
00:59:03.000 The Putin Trump dialogue will bring hope, peace, and global security.
00:59:06.000 So it sounds very much as though they're going to basically try to hand President Trump a bunch of economic deals, you know, a bunch of pledges to work together on oil in the Arctic or something in return for the United States backing off its support for Ukraine.
00:59:21.000 We'll have to see how President Trump plays this.
00:59:23.000 Suffice it to say, I am not a big fan of meetings like this that do not actually have an agenda.
00:59:29.000 I don't think vague things like taking the measure of I think we have Vladimir Putin's measure at this point.
00:59:34.000 He's only been dictator of Russia for 25 years.
00:59:36.000 I feel like if you don't get it by now, there's not a lot of getting to do.
00:59:41.000 Again, it's it's not wrong for the president to meet with Putin, but it depends what comes out of it.
00:59:46.000 The proof of the pudding will be in the eating at this point.
00:59:50.000 Meanwhile, the Ukrainian ambassador to the United States is hoping that Zelensky will end up at some of these meetings.
00:59:55.000 Here she was explaining.
00:59:56.000 With regard to President Zelensky, uh, he has been since day one of this quotable aggression, committed to peace, and uh we have shown that he is ready to be anywhere uh to to uh advance the agenda of peace.
01:00:11.000 So uh if needed, uh President Zelensky, of course, will be present at the meetings.
01:00:15.000 We have been uh very open about it, but uh let's see how this will go.
01:00:20.000 Now again, if what they're talking about is a ceasefire in which the lines of battle get frozen, that just seems like a recognition of reality.
01:00:27.000 That's a point that NATO Secretary General Rudy was making on CBS with Margot Brennan.
01:00:32.000 What I'm saying is that um in the end, the issue of the fact that uh the Russians are controlling at this moment, effectually a part of Ukraine has to be on the table, that any discussion going forward from there will be uh with Ukrainians deciding on what day.
01:00:46.000 Okay, because that's what we're gonna say.
01:00:48.000 Because that sounds like you're saying they don't have to withdraw their troops.
01:00:52.000 But obviously they have to, uh, but factually uh they are controlling a part of Ukraine at this moment, as she was set.
01:01:01.000 Now, the president in advance of the meeting has been making some comments about Ukraine that again, he he tends to do this before big meetings.
01:01:07.000 The president tends to try to warm up his partner before he gets to the negotiating table.
01:01:11.000 And so what that means that he's being critical of Vladimir Zelensky.
01:01:15.000 The rule, by the way, it it is a constitutional provision in Ukraine that if you're going to quote unquote give up territory in Ukraine, that must have the approval of the actual legislature, right?
01:01:25.000 The people of Ukraine have to sound off on that.
01:01:27.000 President Trump, however, was somehow critical of that.
01:01:30.000 The next meeting will be with Zelensky and Putin, or Zelensky and Putin and me.
01:01:36.000 I'll be there if they need, but I want to have a meeting set up between the two leaders.
01:01:41.000 I was a little uh bothered by the fact that Zelensky was saying, well, I have to get constitutional approval.
01:01:46.000 I mean, he's he's got approval to go into war and kill everybody, but he needs uh approval to do a land swap.
01:01:54.000 Well, I mean, to be fair, he was invaded, and the constitution of Ukraine does actually require a nationwide referendum to approve any changes to the country's actual territorial borders.
01:02:02.000 I mean, that's just a reality of the law.
01:02:04.000 I understand the president is trying to make some sort of common ground happen with Vladimir Putin.
01:02:11.000 Whether that happens or not, really is not up to the United States.
01:02:13.000 It really is up to Vladimir Putin so long as the United States continues to hold the line.
01:02:17.000 Okay, meanwhile, the situation in Gaza continues apace.
01:02:21.000 The Hamas propaganda is just, I have to say, their program for propaganda is outstanding, and they have the help of the entire legacy media.
01:02:30.000 It is astonishing, astonishing how onside the legacy media are with the members of Hamas.
01:02:37.000 It truly is unbelievable and incredible.
01:02:39.000 Just to take an example, you remember that there's a chef named Jose Andres, and he has made a big deal out of the idea that World Central Kitchen is doing like an amazing job in the Gaza Strip, or they were doing an amazing job in the Gaza Strip, and then it was only the Israelis who are getting in their way that was causing a problem.
01:02:53.000 It's all Israeli policy and all the rest.
01:02:55.000 Well, it turns out now film has emerged of a vehicle marked World Central Kitchen that has been surrounded by Hamas carrying weapons.
01:03:03.000 And you can see it right here on the video.
01:03:05.000 It is marked World Central Kitchen with like their big logo on the top of the vehicle in order to prevent them from being hit with a drone strike.
01:03:11.000 And it's being surrounded by members of Hamas.
01:03:14.000 Those are armed terrorists, and that is the WCK emblem on the top of the vehicle.
01:03:20.000 Well, now, World Central Kitchen is acknowledging that, yeah, actually, by the way, that is not our vehicle.
01:03:29.000 And they have been, in fact, using our logo in order to steal aid, smuggle aid, and move terrorists around the strip.
01:03:35.000 World Central Kitchen put out a tweet.
01:03:37.000 WCK was contacted by Israel's coordinator of government activities in the territories and confirmed the vehicle and persons of interest were not affiliated with WCK.
01:03:45.000 We strongly condemn anyone posing as WCK or other humanitarians as this endangers civilians and aid workers.
01:03:50.000 The safety and security of our teams are our top priority.
01:03:54.000 Well, I mean, yes, that's what Hamas does.
01:03:57.000 And yet somehow, somehow, it's Israel that is that is interfering with aid.
01:04:03.000 Well, the latest op, and they're just dumping out the op bag at this point, because Hamas is essentially on its last legs.
01:04:08.000 If Israel were to go through with the planned takeover of Gaza City, that presumably put Hamas out of commission that is the last major censor for Hamas militarily speaking.
01:04:17.000 So now they're just dumping out the bags.
01:04:19.000 They're very upset that Israel killed a person on Anas al-Sharif.
01:04:23.000 Anas al-Sharif is a member of Hamas, but he likes to pose as a journalist.
01:04:29.000 That is his faith's lie that has been going around, promoted by many in the legacy media and in the interweb space that Israel is quote unquote killing journalists.
01:04:38.000 As though if a Hamas member puts on a press jacket, suddenly they're no longer a Hamas member, they're a member of the press, like a magical status that is conferred upon them.
01:04:47.000 So Anas al-Sharif worked for Al Jazeera, which shows where Al-Jazira is a propaganda outlet on behalf of Hamas.
01:04:53.000 There is a problem, however, which is that there is tons of evidence that he in fact was a member of Hamas.
01:04:59.000 In fact, here is a picture of him with Yachya Sinwar, hugging one another.
01:05:05.000 Also, in September 2020, he posted pictures of himself with a Hamas fighter, whom he mourned and blessed after his death.
01:05:14.000 Also, in April 2022, he praised a 28-year-old Palestinian after he killed three Israelis in a terror attack in Tel Aviv, calling him heroic.
01:05:22.000 On October 7th, he posted nine hours, and the heroes are still roaming the country, killing and capturing.
01:05:27.000 God God, how great you are.
01:05:29.000 This is a journalist, apparently.
01:05:33.000 So clearly, when he was killed by the Israelis, that meant that some crime against journalism had happened in some way.
01:05:42.000 My favorite thing here is how the legacy media are not only are they complicit, they are just involved, they are just an adjunct to Hamas at this point.
01:05:49.000 Here is the president of the foreign press association, Ian Williams, saying, Well, I mean, just because he's a member of, you know, like an actual honest to God murderous genocidal terror group, that doesn't mean he's not a journalist or anything.
01:06:00.000 Frankly, I don't care whether Asharif was in Hamas or not.
01:06:05.000 We don't kill Germanists being Republicans or Democrats or in Britain Labor Party.
01:06:10.000 Uh Hamas is a political organization as well as a terrorist organization.
01:06:15.000 Perhaps.
01:06:16.000 But it's not permissible to go killing people.
01:06:19.000 And this was the distinct uh change now.
01:06:24.000 Unbelievable.
01:06:25.000 That's the head of the foreign press association saying that being a member of an honest to God murderous terror group is the same as being a Republican or Democrat, which is insane.
01:06:33.000 But probably we should trust all these people.
01:06:34.000 You know who else we should probably trust?
01:06:36.000 The UN.
01:06:36.000 So it turns out that according to Adam Credo, reporting for the Washington Free Begin, the UN affiliated watchdog group that recently declared a worst-case scenario of famine in Gaza.
01:06:45.000 How did they get to that conclusion?
01:06:47.000 They literally changed their reporting metric for what constitutes starvation.
01:06:52.000 Okay, it's like Washington, D.C. defining crime up in order to prevent crime statistics from increasing.
01:06:58.000 So now the UN is defining starvation down to include things that are not actually starvation, so they can label Israel a state that is engaged in starvation.
01:07:07.000 The integrated food security phase classification, a network of Western governments, the UN and nonprofit groups, determined in a July 29th report, quote, the worst case scenario of famine is currently playing out in the Gaza Strip.
01:07:18.000 And then that was immediately picked up by the rest of the legacy media.
01:07:20.000 The New York Times, NPR, CNN, ABC News.
01:07:24.000 Well, the July report includes a metric known as the mid-upper arm circumference.
01:07:29.000 The agency has not Historically used to determine whether a famine is taking place.
01:07:32.000 It also includes a lowered threshold for the proportion of children who must be considered malnourished for the IPC to declare a famine down to 15% from 30%.
01:07:42.000 So Muak, that that measurement of the child's arm circumference, it's a measurement that can be done more quickly, but it's considered significantly less precise.
01:07:50.000 And the IPC has only declared famine after finding typically 30% of kids in an area are suffering from acute malnutrition after using weight and height measurements.
01:07:58.000 Well, now they are changing the measurements that they are using, and they are lowering the bar in order to get to where they want to go.
01:08:04.000 That is their goal.
01:08:07.000 It's astonishing.
01:08:08.000 The aid worker who pointed this out pointed to previous famine declarations the IPC issued in Somalia, South Sudan and Sudan, all of which used different metrics because the starvation there is actually significantly worse.
01:08:20.000 I'm sorry.
01:08:22.000 So again, the United Nations is now changing standards simply in order to achieve the idea that Israel is engaged in starvation.
01:08:29.000 And the media are eating it up because this is their favorite thing to do.
01:08:32.000 They love it, they can't they can't stop it.
01:08:35.000 They will continue to do it for and you wonder why Hamas continues to exist in the Gaza Strip.
01:08:40.000 If it were not for the legacy media and their friends in European governments, this would be this would have been over months ago.
01:08:46.000 It would have been over.
01:08:47.000 It is only outside support that has kept Hamas going, not just material support, but actual, real PR support on behalf of an honest to God terror group.
01:08:57.000 This is what Hamas banked on.
01:08:58.000 And you know what?
01:08:58.000 They banked right.
01:08:59.000 Alrighty, coming up, we'll get to some culture.
01:09:02.000 David Justice, you remember him?
01:09:04.000 Baseball player.
01:09:04.000 He was married to Halle Berry at one point.
01:09:06.000 Now he's under serious fire because he talked about why they got divorced.
01:09:10.000 And apparently it got a little spicy.
01:09:12.000 We'll get to that as the show continues for our members.
01:09:14.000 Remember, in order to watch you have to be a member, if you're not a member, become member, use code Shapiro checkout for two months free on all annual plans.