00:00:53.000We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country.
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00:01:30.000Breaking news: Pam Bondi has ordered a federal prosecutor, not named currently, to present evidence before a Florida grand jury to present the case regarding Russia Gate.
00:02:18.000We were promised justice for the Hillary Clinton emails.
00:02:21.000We were promised justice for the people that lied about the Hunter Biden laptop.
00:02:27.000We were promised justice for the crimes that happened during COVID and the lockdowns and the vaccine mandates and the mask mandates and the corruption of our sciences.
00:02:35.000So just color me a little bit cautious here that I think immediately that we are going to get perp walks and indictments, but that is what we need.
00:02:45.00051 intelligence officials under Joe Biden lied about the Hunter Biden laptop.
00:02:51.000Now, Pam Bodney ordering this federal prosecutor is a good step.
00:02:57.000Overall, we want to see less chatter, less memes, less talk on social media or TV.
00:03:28.000The Florida venue is a very ambitious scheme.
00:03:32.000They apparently want to prosecute Brennan or Obama because the Biden Department of Justice raided Mar-a-Lago six years ago after they left office.
00:03:43.000That could be seen as catering more to a very specific grievance of the base rather than narrowly looking at the crimes that they can prove.
00:03:51.000I would introduce some caution here about trying to indict Obama.
00:03:55.000Of course, I think he probably deserves it.
00:03:58.000But remember, Obama still remains very popular amongst the American people.
00:04:02.000You could potentially create a political martyr.
00:05:43.000Can we get that piece of tape, guys, where Brennan, Comey, and Hillary were all parroting the same lie?
00:05:48.000He was the fulcrum point of all things Russia gate.
00:05:53.000Now, what exactly were the crimes that were committed?
00:05:56.000Well, we don't know the specifics, but it was likely a grand and seditious conspiracy against the American people to thwart the sovereign of an election.
00:06:56.000The Attorney General acts at the behest of the President of the United States.
00:07:00.000But I understand that you want to keep some customs and some things separate because you don't want to see this as a politically motivated thing.
00:08:12.000It's very important, working up sequentially.
00:08:15.000But if I were to give my advice, whatever it's worth, I would go all in on John Brennan.
00:08:20.000Unless you have Obama so stone cold dead to rights, it could potentially be a narrative distraction beyond anything that we want.
00:08:29.000My opinion, Brennan, based on everything we know publicly available, and there will be information presented to the grand jury that we do not have made available to us.
00:08:39.000The Russians interfered in our election during the 2016 cycle.
00:08:44.000It is a high confidence judgment of the entire intelligence community.
00:08:48.000It was Russia in a very systematic way and tried to interfere in the election and to try to advance the prospects of Donald Trump being elected.
00:08:56.000Donald Trump knows that the Russians helped him win in 2016.
00:09:01.000There will always be an air of illegitimacy around the 2016 campaign.
00:09:08.000That was John Brennan saying the Russians actively helped Donald Trump.
00:09:54.000And I'm saying Obama likely deserves it, but you got to really have had the stone cold case, dead to rights.
00:10:02.000And if you don't, it could be worse than not even trying.
00:10:04.000It could derail a lot of the projects we have.
00:10:06.000Again, I don't know all the evidence, but I see definitely Brennan as the architect, the designer, the coordinator of this malevolent effort to undermine the U.S. Constitution, popular sovereignty, and President Donald Trump.
00:10:22.000Charlie Kirk here, we know that rates are still high and that they can make refinancing or purchasing feel out of reach.
00:11:23.000If we have a country where we can continue to have FBI careerists and CIA careerists, deep staters, who will fabricate and doctor evidence, who will create and produce fake material, fabricated material, phony information to try to go after their political enemies up to and including the president.
00:11:42.000If we continue to create the impression and the reality that there is not a criminal, a severe criminal penalty for such conduct, it will never stop.
00:11:54.000And we will continue to have a country that is sabotaged endlessly by the production of fake documents, fake material, fake plots against Democratically elected officials.
00:12:08.000I think Obama is the head of the snake, but I think we have to be prudent about this.
00:12:11.000Number one, we were very critical when we said former presidents have never been touched by the system of justice, and he definitely deserves it.
00:12:44.000Let's start on the bottom up and build that grand conspiracy.
00:12:46.000And then if we have it, then we got Obama and we can indict him and put him in prison.
00:12:52.000Breaking news, FBI Director Kash Patel has asked to help Texas authorities track down and arrest the Democrat lawmakers who fled the state to block a vote on redistricting.
00:13:02.000Very important piece of information there.
00:13:04.000Okay, let's put this up here from Alabama.
00:15:51.000It's a phenomenal piece of data that is real empirical data that shows the success, that shows the velocity, that shows the increase of what we are able to be able to get done here on this program and at Turning Point USA.
00:16:06.000You have a lot of choices for cell phone service with new ones popping up all the time.
00:16:10.000But here's the truth: there's only one that boldly stands in the gap for every American that believes that freedom is worth fighting for, and that is Patriot Mobile.
00:16:18.000The good news is that you can switch to Patriot Mobile today without sacrificing quality or service.
00:17:06.000Joining us now is Dr. Charles Steele, director of the Hutchinson Center for Commerce and Freedom and the associate professor of economics at America's greatest college, Hillsdale College.
00:17:16.000Thank you so much for taking the time.
00:17:17.000Dr. Steele, you are also the one that did the understanding capitalism course, which is wonderful that people should check out at charlieforhillsdale.com.
00:17:26.000Dr. Steele, I want to talk to you about Mamdani.
00:18:06.000Rent control prevents owners of properties from being able to maintain them.
00:18:13.000It limits the amount of property that will be made available.
00:18:17.000It stops building and it creates shortages.
00:18:20.000That's also true of any kind of price controls that hold prices down, attempt to hold prices down.
00:18:28.000They don't actually do that, they simply create shortages, and then the property will be allocated in some other way.
00:18:36.000Grocery stores, government grocery stores.
00:18:39.000I lived in the former Soviet Union, I also lived in Communist China for a short time, and I've been in other places where they have government controls on these sorts of things.
00:18:50.000And if you like, shortages and standing in lines and not enough to eat, then government grocery stores are the way to go.
00:19:01.000So, Dr. Steele, let's zero in on the rent control.
00:19:04.000It's actually so there are tens of thousands of vacant apartments in New York City right now where he is running, and they do not get improved upon, and they do not have significant upgrades because of rent control.
00:19:19.000The cities with the most rent control in the United States, without exception, have the highest average housing prices: New York City, San Francisco, D.C.
00:19:27.000And they've had the controls for a long period of time.
00:19:30.000And so, speak more about this: the direct connection between rent controls and freezing the rent and housing prices increasing.
00:19:38.000It actually hurts the very problem that they are seeking to solve.
00:19:53.000There's no point in investing in something where there's no possible return on it.
00:19:58.000And it's going to be important that we talk a little bit about capitalism and about profit and why that's important, why that's a valuable thing.
00:20:05.000But just as a starting point, if you can't recover your cost, you're not going to invest something.
00:20:14.000People will not invest in building new housing if they're simply going to take a loss on it.
00:20:23.000It's interesting that after the Vietnam War, after the United States had left Vietnam and North Vietnam conquered South Vietnam, one of the North Vietnamese finance ministers said, we managed to do to housing in Hanoi what the Americans could not do by bombing.
00:20:43.000We destroyed it and we destroyed it with rent controls.
00:20:49.000And so I know that you're a profession of economics, but it's an irresistible call, the temptist temptation of rent control.
00:20:57.000Why is it that we're not able to shut ourselves of the political attraction to the allure of rent control despite its tragic and catastrophic failure?
00:21:10.000So Mr. Mandani just recently met with Elizabeth Warren and Warren has endorsed him, Senator Warren, and she put it this way.
00:21:37.000Whatever is whatever we're commodity we're talking about, in this case, housing, will be in less supply and therefore be allocated to a number of across people, across the people attempting to get it via some other method, whether it is waiting in line, bribery, special favors, something like this.
00:21:58.000But there will also be shortages inevitably with a system like that.
00:22:02.000It's attractive because we say, because the politician will say, we're going to give you something for free.
00:22:08.000We're going to give you something that's cheap.
00:22:24.000There'll be no abundance, but it won't cost very much.
00:22:27.000And so the political realities, it's so hard and frustrating because our job as conservatives or free market people, we have to defend a system that is not about free stuff.
00:23:02.000What would you say are two or three things that these cities can do to fix housing, cost of living, transportation?
00:23:09.000Our population is getting crushed by the affordability crisis.
00:23:12.000Dr. Steele, what would be one or two proven free market ways that we can address these problems?
00:23:18.000In particular, for housing, we have various kinds of controls that, you know, zoning laws and things like this that actually people from building all sorts of restricting building codes, permitting processes, and things like this.
00:23:32.000In California, for example, it is nearly impossible to build any kind of reasonable housing because of the regulatory systems.
00:23:41.000New York City, of course, is a bit of a different situation because New York is a constrained area.
00:23:48.000If you think about Manhattan, it is largely built up, but it is very difficult to upgrade, to build anything new, and to develop, to further develop property that one owns.
00:24:03.000This is why you have parts of New York City, which are basically just slums and have been left abandoned because nobody can afford to put anything into them to build them.
00:24:15.000So, one of the first things I would do is get rid of the housing regulations and the building regulations and the various kinds of environmental rules, also, which don't actually help the environment but do block any kind of development.
00:24:30.000That would be the first thing you could do, and it would make a great deal of difference.
00:24:35.000Another thing would be to just decontrol prices.
00:24:48.000When I was, I did my PhD at New York University, so I lived in New York City for four years.
00:24:54.000And some of my friends who went on, finished their doctoral degrees, and went on to the World Bank and the IMF had rent-controlled apartments.
00:27:27.000You have an incentive to hold costs down and to provide quality.
00:27:31.000Now, under a socialist system or a government system, there's no incentive to control costs.
00:27:37.000And in a government supermarket, government grocery store, no incentive, no price signal that's going to, you don't have a profit and loss signal.
00:27:46.000So no incentive to, no incentive to keep costs down.
00:27:52.000But at the same time, quality doesn't matter because it's a government store.
00:29:22.000Hugo Chavez, the communist who became dictator of Venezuela, imposed price controls on groceries and everything in supermarkets.
00:29:35.000Shortages necessarily develop then because if you can't cover the cost of the goods, they're not going to be on the shelves.
00:29:42.000He then used that when the shortages emerged as an excuse to nationalize the grocery stores, take them over.
00:29:50.000And it was really a plan that he had just simply to nationalize things, simply by saying that the supermarkets, the grocery stores were not doing their job.
00:30:03.000Then he confiscated the property, became, as some might say, appropriating the means of production, which is something, of course, that Zohan Mamdani has called for.
00:30:16.000And then you have a socialist system and you have chronic shortages.
00:30:21.000The consequences for Venezuela were studded growth, malnutrition in children that cannot be corrected, permanent damage to children from starvation and from famine.
00:30:34.000And that's the result that you get in any time, anytime you use that kind of a system.
00:30:39.000Hopefully it wouldn't be so bad if they pulled something like this in New York City because we still have a free enterprise system elsewhere.
00:31:00.000What would you say is the greatest economic myth or stumbling block that you have to deprogram or confront of students that you come at Hillsdale College?
00:31:10.000Something that they believe that is not true, that you have to correct early on.
00:31:51.000Profit is an incentive to serve your fellow man, provide goods and services that people want and need and are willing to pay for, and to do it at a cost that cost effectively.
00:32:05.000A system like the Soviet system is incredibly wasteful and generated goods and services that people didn't want.
00:32:12.000If you want to have a society that is productive, if people are going to have productive and rewarding lives and flourish, if we want to protect the environment, if we want a free and peaceful society, we need capitalism.
00:32:26.000Socialism promises those things that it actually brings authoritarianism, tyranny.
00:32:32.000It divides people into the leaders and the serfs who must follow.
00:32:36.000And it's a destruction, tyranny, and poverty result.
00:32:40.000So people need to understand the importance of capitalism and why it works.
00:32:45.000Dr. Steele, you're welcome back anytime.
00:32:46.000We need to talk more about capitalism.