UNHINGED Food Stamp Women THREATEN To Rob People Over SNAP ft. Dave Smith
Episode Stats
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Summary
On today's show, host John Rocha is joined by Dave Smith to talk about the impending end of food stamps and the threat of a "snap apocalypse" that could see 42 million people lose their benefits on November 1st.
Transcript
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The kind of culture that we've, you know, guys like me and you, I think I've been fighting
00:01:33.720
back against for some years now, where the level of entitlement that some of these people have,
00:01:39.640
like there is just, there isn't a feeling of like the little bit of shame that we would just
00:01:45.480
appreciate if someone's living on welfare. Like just a little bit, you know, understand that like
00:01:49.700
other people are going to work and are paying for your food. You shouldn't feel great about that.
00:01:54.060
But fuming snap recipients threaten to loot. If food stamps are cut November 1st,
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stay the F out of my way. Here's a video that I showed in a previous segment,
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If I came in your house with all my bags, picking out all your food, deep freezer, snacks,
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your grandmama's milk and everything, what you going to do? I'm curious. What you going to do?
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You will be shot. Now in liberal areas, they'll probably do nothing, but I would recommend
00:02:27.220
against doing this. And then we have this video. I want to jump to the, let's just play this tape.
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It's been day five and I have not received no food stamps. My disability checks is on hold.
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My cash benefits is not coming no more. They're still pending. I, it is the taxpayer's job
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to pay for my kids to eat and for my kids to be taken care of. I have over 2000 followers on TikTok
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and I can't get not one person to send me 50 cents. If you watch video and you can't send me
00:03:00.840
nothing, I'm blocking you. You know, part of me just says that's got to be a fake video.
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There's no way that lady is real. You follow me, send me money or you're being blocked.
00:03:12.560
Maybe no one sent to the memo that her followers are fake, but this is an interesting conversation.
00:03:17.300
The snap apocalypse, it's been going on for some time and I've heard from conservatives.
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I've seen the liberal liberals. I'm curious what the libertarians are going to think because,
00:03:25.880
well, you know, libertarians fall somewhere in between on a lot of these issues.
00:03:30.140
So I'll be pulling in. Let's, let's grab this, see if we can get it going. Dave Smith, what is up?
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What's up, brother? How are you, man? I'm good. My friend, it's the snapocalypse.
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They're calling it. Welfare benefits are set to expire November 1st. Trump says he's going to get it
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done, but I don't know if he means it. And there's, there's, there's, this is a big story in that
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42 million people will be cut off from their welfare benefits. It's going to have a ripple effect
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in, in a bro. It just gets crazy, right? So you've got pockets in cities where the stores rely on EBT
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or snap for a large percent of their margins. It may be five, it may be 10% or more.
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They can't survive without this. It's going to impact producers. But the big thing we're seeing
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is the threat of violence and looting unless people get our tax dollars to pay for their,
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for their, for their livelihoods. Now I'm curious, you know, you're, you're, you're, you're a libertarian.
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Do you want to see snap just gone overnight? What do you think? Well, I mean, I think it being gone
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overnight would probably be the most reckless way to, to do it, you know? And I think I look,
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obviously like from my perspective, I think from most sane people's perspectives, none of these
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programs should exist to begin with. But you know, I always, as is always my North star was when Ron
00:04:50.560
Paul ran for president, what he would always say is what you have to do if you want to have drastic
00:04:55.900
cuts in the government is you have to stop funding the worst things first. You know, you have to stop
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funding the unnecessary wars. You have to stop funding the unnecessary militarization of,
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of local police departments and the huge black budgets for the intelligence agencies. And then
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you have to, with some notice, let people know that in X amount of time, we are going to be cutting
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these programs as well. And of course the government shut down politics, which has been politics now for
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over a decade in this country is always the worst way to do everything. But I guess maybe zooming out
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more, the thing that is amazing to me that more people aren't talking about, it's like, it reminds
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me almost with the, um, with the conversation when Biden was president over student loan debt
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forgiveness. And you're like, okay, even if we're having that conversation, at what point are we going
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to discuss the elephant in the room? You know, like at what point are we going to go like, okay, but wait a
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minute, you got to go a couple hundred grand into debt for college. And then you're working at
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DoorDash after that. That's a pretty big issue. And the fact that 40 million people in this country
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are dependent on the government for food in, in a first world prosperous country in 2025 with all
00:06:06.200
of the wealth that we have. I mean, that is something that that's a sign of a very sickening
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dysfunctional society. We created that system with welfare. We made it possible for large swaths of our
00:06:17.660
population to not have to work to eat. I got a number you probably know, but I talked, we talked
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about this the other day. Did you know that third, about 37% of our economy is the government?
00:06:30.920
Yeah. Now that is a problem. I can't remember. Uh, yeah, go ahead.
00:06:36.280
Well, no, I mean, if you look, if you look through the, uh, the 10 planks in the communist manifesto,
00:06:41.100
we got just about all of them. I mean, or some version of all of them, you know, like when you
00:06:47.200
look through it, it's like, it's, you know, like, okay, like, okay, we didn't abolish all private
00:06:51.160
property, but like, what is property tax really? I mean, that kind of, in a way is like the
00:06:56.200
government owns it and you're really just renting it and you never really own. And if you're ever
00:07:00.700
delinquent on those payments, they take it away from you. In other words, the government's kind
00:07:04.480
of the landlord of all of our property. And yeah, as you said, you know, I remember watching this
00:07:08.980
with EBT, like on the ground, like I was living, um, in prospect Heights, Brooklyn. Um, it's like,
00:07:16.520
I'd say there's like around like 2007, 2008. And there's, I remember just like at the local store
00:07:22.160
and it wasn't like the hood, but it was like next to the hood where I lived, but like at the local
00:07:26.460
convenience store, I remember all of a sudden everyone's using EBT cards. Like all this is
00:07:30.960
just always like, that's what people are just putting snacks on. And yeah, we've, we've created
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a whole system now of a whole class of people completely dependent on the government. And that
00:07:40.380
is not good. Well, I think the communists want it. They want to expand it. They want to,
00:07:45.000
they want the economy to get worse in the private sector. So it forces people into the control of
00:07:50.560
the government and their party and their ideology. But you know, we had this debate on, on IRL a couple
00:07:56.620
nights ago, everybody in the room, I asked, should November 1st, we just let it go dry. And everyone
00:08:05.200
said no, because it's, it's too reckless. It's going to have a ripple effect. I was the only one who said
00:08:10.600
it should. And my reasoning is there is no political reality where Congress will wind this program down
00:08:19.580
in any meaningful way. Not a single Republican, I believe, okay, maybe Thomas Massey, but I believe
00:08:26.900
that the only Republicans, uh, it's going to be Massey and Rand Paul, probably who are willing to
00:08:32.720
stand up on stage and say, I will cut your benefits. So what happens is Donald Trump comes out and says,
00:08:40.020
no one will touch your Medicare or Medicaid or your social security. He has to tell people,
00:08:45.100
we won't take away your free stuff. What does that mean? The only direction government can move
00:08:50.220
is towards the expansion of government in people's lives and in the economy. If the only way this stops
00:08:57.440
is a cold Turkey accident, then I don't know what else to do. I think it's the only way to do it.
00:09:02.600
Well, I certainly, I certainly get your point there. And I think, you know, there's the fact
00:09:08.360
that right now, um, the country is, you know, we're, we're really spiraling into a debt crisis.
00:09:15.220
I mean, this is a really big deal and it's something that a lot of people have myself
00:09:18.900
included, I've been warning about for quite a while at this point, but we're at a point where
00:09:22.960
interest on the debt is overtaking the budget and it's not going down. It's not going down.
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And this is now, we are now spending, like we, if we balanced the budget, Tim, we still run
00:10:35.200
trillion dollar deficits just because of the interest on the debt. And how far are we from
00:10:40.540
balancing the budget? You know what I mean? It's impossible. And, and, and yet we have a Republican
00:10:44.900
president, a Republican Congress and Republican Supreme court. And even they are not moving towards
00:10:51.360
spending cuts. They're doing this. I was arguing with Steven Crowder about this yesterday because
00:10:56.260
now all of a sudden he has become a Democrat mathematician where he goes, Oh, we're cutting
00:11:01.400
$1.5 trillion. And you're like, no, dude, come on. You're doing what the Democrats do now where you
00:11:06.300
call that a cut. This is literally, I, we've joked about this before with inflation. It's like,
00:11:10.200
if you gain 50 pounds one year and then the next year you gain 30 pounds, an economist in Washington,
00:11:15.940
DC says you just lost 20 pounds. No, you're getting fatter. It's a real problem. And so I guess
00:11:25.440
just like the fact that I get your point, like, this is what, maybe this is what it takes. Um,
00:11:30.980
but it is, you know, one way or the other, we're kind of going off this cliff and the fact that the
00:11:36.180
Republicans got in power and don't even seem to have any interest in, in any cuts is a real problem.
00:11:41.100
Well, maybe they do. Uh, so, so I can only, I can only speculate. Uh, Trump said on, on Air Force
00:11:46.660
One, we're going to figure this out for November, but part of me thinks the Republicans are intentionally
00:11:51.320
doing this because they want SNAP to implode because I, so I'll, I'm not an economist, but I
00:11:58.640
can try and simplify the issue of debt and interest on the debt. To put it simply, we have, we have,
00:12:03.340
we have taken on so much debt and this literally just means, I love how this works. The U S
00:12:10.660
government doesn't need a credit card. It literally just asserts it can pay you back later.
00:12:16.340
So we raised the debt ceiling. Uh, the example would be like the government says, we need someone
00:12:20.460
to build the street for us outside of Congress or whatever. So they go to a contractor and say,
00:12:24.740
Hey, we're the U S government. We're good for it. You know it. And they tack on that debt from that
00:12:29.180
company onto their debt. The debt is largely owed to the American people. So the interest on the debt
00:12:34.720
is when we take on debt, we got to pay it back. So now, even if we taxed everybody, the biggest line
00:12:42.540
item in the budget every year is we're paying interest on debt. We basically have this massive
00:12:48.200
credit card we've been paying the minimum on and it's getting worse and worse and worse. So one of
00:12:53.300
the things I've been thinking is maybe Trump and the Republicans know this. If the system, if we reach
00:12:59.080
default, the global economy, just, it's a ripple effect through the whole thing. And it's extremely
00:13:04.840
disruptive. So what do you do? Well, maybe one way to shock the system and start retracting money
00:13:11.300
is this protracted shutdown. And then, uh, well, it's no, it's no individual's fault.
00:13:19.280
Snap is gone. And it's not just snap. It's a bunch of other programs, but imagine what would happen
00:13:23.640
if any run of the mill Democrat or Republican came out and said to their constituents, guys
00:13:29.880
vote for me and I will take away snap. They lose. Well, it's a major, that isn't that like really one
00:13:37.540
of the fundamental flaws with democracy or particularly with democracy mixed with big
00:13:42.440
government. And, you know, I remember Mitt Romney gotten a lot of trouble in 2012 and God, I hate to
00:13:47.420
ever give credit to Mitt Romney. Um, but he was, you remember he got in trouble for that thing where he
00:13:52.540
was saying 40, 47% of people don't pay income tax at four. But the thing is right, Tim, like all of us
00:13:59.040
taxpayers do know this on some level. This is a real problem. It's a real problem when you have
00:14:04.700
basically the way our system kind of works is that the entire economy is rigged on behalf of the
00:14:11.400
uber powerful, the super rich. Okay. And then the entire like lower rung of the economy is on welfare.
00:14:18.080
And then there are the people in the middle who are like the productive people who just get caught
00:14:23.820
carrying the burden for all of it. You know, like you, you gotta every year when you're paying your
00:14:28.840
taxes, you got to pay for the wall street bailout and the wars and the welfare that, you know, like all
00:14:33.680
of it falls to the guy who's making four or 500 K a year, which might sound like a crazy lot of money to
00:14:40.100
people who don't have any, but like, you know, you're living in a big city. It's actually not like that
00:14:43.680
wealthy. And, but again, it's like, so now to this entire, to the entire democratic,
00:14:50.160
to the entire portion of the base of voters who don't pay in, who are welfare recipients,
00:14:55.340
what are they moved by? Oh, I'll cut your taxes. That doesn't help them any. They're not paying
00:15:00.660
taxes. And so, yeah, it's, it's a real problem that promising free stuff wins votes. How do you
00:15:08.100
compete with that? It's true. Uh, and that's why even Republicans do it. They'll, they'll say these
00:15:13.700
entitlements are bad, but don't worry. Yours are justified. Democrats just say free for, you know,
00:15:18.520
I actually, I love Zoran Mamdani so much and it's, and it's kind of in a comedic kind of way.
00:15:26.320
If he was a comedian mocking socialists, he'd be too over the top. I love the, we're going to make
00:15:32.380
buses free and faster. How are you going to do that? Make them go faster. You get like what's
00:15:39.100
slowing the buses down is the science of the combustion engine and the speed limits in the
00:15:44.860
city or, or maybe you could argue traffic. Yeah. Yeah. You promise random nothing to people just
00:15:51.040
sounds good. And people vote, they vote for the communists. But I suppose, uh, with all being,
00:15:55.820
with all that being said, do you think the Republicans will actually let the snapocalypse happen?
00:16:00.240
My guess is no, you know, like I've just, I've watched this movie, you know, as you have too
00:16:06.860
many times, it always seems to end with like this game of chicken and then they compromise and raise
00:16:13.660
the debt limit and keep spending us further into debt. That's my guess. Um, you know, I, that would
00:16:19.520
be, you know, what I would think. But again, I do think, look, even if this is the master plan and like,
00:16:24.880
this is the way to cut the snap program, it does just seem like, yeah, so here, okay. So you have
00:16:29.740
Donald Trump were $38 trillion in debt. He is, has requested a trillion dollar Pentagon budget
00:16:37.920
and has promised to not touch entitlements, but we are going to cut snap. I mean, that doesn't even
00:16:43.280
solve the problem. It's just like, why, why would you choose to start with, you know, like cutting
00:16:48.500
from the most vulnerable people when, as you know, Tim, look, the real issue here is that this is like
00:16:54.580
you were explaining what the credit card says. We can't afford any of this. We sit here, we give
00:16:59.060
foreign aid. We act like we're the rich, you know, father who can support all of his kids. Meanwhile,
00:17:05.000
we're broker than anyone else. It's, and no, it's, it's, it sounds to me like such a perfect example
00:17:11.220
of this like liberal virtue signal signaling household where it's like the mom brags about
00:17:17.600
how she donates to all these charities, despite the fact that if massive credit card debt can't afford
00:17:22.020
new clothes and then just keep taking on new credit cards, but everybody gets to pretend like,
00:17:27.280
oh, they do so well. Now it's all on credit cards. The funny thing is, I think the debt person is in
00:17:33.240
right now, it's like, what, a hundred thousand dollars. So something like that. You have to pay
00:17:38.640
a hundred grand in taxes. Every American, including 16 year olds who are just under the workforce,
00:17:44.500
if we are going to pay off this debt, I think the reality is we are going to crash. The economy
00:17:51.860
is very bad. Um, I don't think it's the worst economy we've ever seen, but it is not a good
00:17:56.120
economy. Property values are skyrocketing. Trump wants them to continue because it inflates,
00:18:01.060
you know, it makes people feel like things are improving stock market going up, even when spending
00:18:05.780
is going down because they just want all the metrics to look healthy. But the reality is people
00:18:11.760
are struggling to afford groceries. They're struggling to buy homes. And now we see this one
00:18:17.280
metric. It's, that's hilarious. The LSATs. Did you see this one? The LSAT entry?
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Applications was like 18,000. Now it's 32. And this has always been, and I'm not, I'm not the
00:19:31.160
economist, but this is what the analyses have been saying. When people apply to law school
00:19:36.080
in huge numbers, they're basically saying there is no function of the market that can sustain my life.
00:19:42.400
So I'm going, I'm going into government arguments for money. Basically there's no trades, there's no
00:19:49.280
jobs, there's no products being made, there's no culture. So law is the best example of we created
00:19:57.140
a problem that only we can fix and we're going to take money from productive people to pay you to do
00:20:01.400
it. People are literally saying the opportunity to make money right now is to argue with each other
00:20:07.420
about the way the system is working. And that's usually, that usually happens right before the
00:20:12.280
economy implodes. I don't see, I don't see our, our government. I don't see Trump or anybody doing
00:20:18.740
anything meaningful to cut the budget. So the only thing that makes sense to me is they're going to
00:20:23.820
let the government shutdown keep going. It's almost like, um, you remember when COVID lockdowns
00:20:29.700
happened, the New York times wrote that the planet was healing. Cause they, yeah, the carbon
00:20:34.500
emissions. It's like the government, the extended government shutdown is Democrats and Republicans,
00:20:38.380
both looking at the debt clock, slowing down and being like, this is going to buy us some time.
00:20:43.040
But, um, okay. So, so rant over, but my question then is potential violence. Do you think if, if I,
00:20:49.600
I agree with you, my prediction is it's not going to happen. They're going to intervene. But do you
00:20:54.540
think with 42 million people cut off from SNAP, you actually see these mass looting, this mass rioting?
00:20:59.100
Uh, I think there's a real concern about that, you know, and, and I've seen some of those videos
00:21:04.760
that, that you were talking about too, of people threatening that there will be violence. And
00:21:08.740
there is, you know, there's a, there's a mix of it's the, the economic, uh, dynamics and economic
00:21:16.240
incentives. But then there's also like the kind of culture, um, that we've, you know, guys like me and
00:21:22.400
you, I think I've been fighting back against for, for some years now where the level of entitlement
00:21:27.300
that some of these people have, like, there is just, there isn't a feeling of like the little
00:21:33.380
bit of shame that we would just appreciate if someone's living on welfare, like just a little
00:21:37.700
bit, you know, understand that like other people are going to work and are paying for your food.
00:21:42.100
You shouldn't feel great about that. Um, but no, they're like, how dare you, how dare you this
00:21:47.480
racist system, which owes us this food. And I'm not making it out. Like it's all black people on
00:21:52.840
there. There's white people with that same attitude, but it really is. It's a real problem
00:21:56.960
that people have this, um, which has been of course, obviously fostered by progressives
00:22:02.360
for many years that there should be almost like in a sense that maybe they won't exactly
00:22:06.560
say it, but you're kind of within your rights to commit an act of violence. If your food
00:22:10.900
stamps get, uh, that's an issue we got to be focused on. Um, but again, to your, the larger
00:22:16.380
point there, right. Is like the only way out of it. The only thing the politicians are ever
00:22:19.900
going to do is just print more money, print more money. And like you said, they want the,
00:22:23.500
they want the stock market to go up. They want real, uh, the real estate to go up and
00:22:27.440
that's okay. If you're in the ownership class, you know, which me and you are. And so we get
00:22:33.360
beat up by inflation too, but the value of our assets goes up, but it just totally screws
00:22:38.200
over anybody who's not in the ownership class, particularly young people, bro. It's crazier
00:22:42.960
than that. The ownership class. It's crazy that we're at this point when you buy a house
00:22:48.100
on, uh, when, when, when you get a mortgage that you don't think twice about. So let's
00:22:53.940
say someone like me, I make a lot of money. If I bought a house for 300 grand, I am not
00:22:58.120
paying cash for it. I'm going to go to the bank and say, I want a low interest, uh, mortgage,
00:23:03.960
cut me the best deal that gets me the lowest interest rate and I'll pay it. So usually it
00:23:07.780
means my, my, uh, you know, per month, they're going to be paying more, but then all you got
00:23:13.560
to do is beat inflation. So one of the techniques used by the ownership classes, if I take out
00:23:18.160
a loan for $300,000 to buy a house within five years, the house is now worth 450,000. I could
00:23:24.420
sell it and pay off that debt and take cash out. And now I've made money better yet though
00:23:29.200
with inflation, the value of the house goes up and the value of the debt goes down. So
00:23:35.480
this is a tactic used by the United States with quantitative easing so that when we give,
00:23:40.180
when we borrow money from foreign countries, we intentionally devalue our currency. So the amount
00:23:46.080
of labor to be paid back is substantially less. So for poor people who don't get raises or who have
00:23:52.160
variable interest rates and are struggling to pay off their mortgage, there's a minimal benefit
00:23:56.280
when inflation devalues the total note you have on your property. But for the ultra wealthy,
00:24:01.560
they're intentionally taking out loans and hoping for inflation, which screws over the working class
00:24:08.060
have to buy groceries, but benefits them because it devalues the debt they have. So rant over,
00:24:13.740
but I wanted to point out, there's this video I played just before you came in of this black woman
00:24:18.900
saying, it is the responsibility of the taxpayers to take care of my kids. How do you function as a
00:24:27.200
country with millions of people who genuinely believe that? That's the point you were just making
00:24:31.900
before. As sooner or later, if we keep voting in this direction, the system implodes. So what do we
00:24:38.060
do? Do we just stock up on emergency food, go move to the, to the wilderness and prepare for the long
00:24:43.760
fall? Or do we push back and say, we've got to cut these people off? Yeah. I mean, I think there's,
00:24:49.680
look, that culture of righteous dependence was created. And so a culture that rejects that can
00:24:57.700
also be created. And I think, I, you know, I think that's like what we all work toward doing.
00:25:02.000
Yeah. And so there's that aspect to it. And then look, I would ideally, if I was in control of the
00:25:07.720
government, it would be a timed phase out type thing. But to your point, I think, which is a very
00:25:12.480
good one. It's like, yeah, but that ain't happening. But, and then to the larger thing, you know,
00:25:16.840
like, I just, um, I just recently got a, um, like a letter from my, like, I bought a house like three
00:25:22.980
years ago. I got a letter from my real estate agent. This isn't like a, an official appraisal
00:25:27.040
or nothing, but they estimated that like the house has gone up by, you know, a few hundred thousand
00:25:31.420
dollars. And you know, it's this area where I live. I mean, the prices have just shot up and you,
00:25:37.680
you look at that. And I remember I was thinking, I was like, you know, I struggled for a lot of years.
00:25:41.540
I was really broke for many years. I'm making really good money now, but I just got handed this
00:25:46.680
gift that I didn't earn. Like that's basically welfare. It's essentially welfare of the way the
00:25:52.320
system works. This wasn't a market function. This is obviously a government function that the price
00:25:57.760
of real estate is being driven up. And so just, if you think about it, it's like, so they're in a
00:26:02.260
sense, it's like, they're handing me a welfare check and taking it out of the pockets of young
00:26:06.340
people. That same house is now that much further out of their reach. And then we look around and we
00:26:11.120
wonder why all these young people are demanding socialism. And I think the difficulty for people like us
00:26:16.160
is to point out that it's like, look, it's not true when you guys say profit is theft. That's not
00:26:22.160
true. But under the current system that we live, there is a tinge of truth to the fact that a lot
00:26:28.340
of people are making money in completely unfair ways, but that's because of government intervention.
00:26:34.480
You know, even Jon Stewart, and I don't know if you saw Jon Stewart and Bernie Sanders were talking
00:26:38.560
about this. And it's like, it occurred to Jon Stewart for the first time in his life in his sixties
00:26:42.440
that he goes, you know, these government interventions do seem to drive up the prices of
00:26:46.220
things. You know, yeah, that's kind of true. Well, geez. Trump wants it. Trump doesn't want
00:26:53.000
property values to go down because I think in his view and the Republicans view, there's a lot of
00:27:00.180
Gen Xers, lesser older millennials, but a lot of Gen X and boomers that have stored their wealth in
00:27:05.440
their property. And these people don't want to see their assets decline. So Trump's attitude is
00:27:10.860
houses should just go up, but that means Gen Z and millennials are struggling to buy homes
00:27:16.400
because the prices are going up more than wages and salaries are going up. Now you add this,
00:27:21.600
there's two things I'll add to this. When you, government interventions, I could be wrong,
00:27:26.060
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You've got organizations like BlackRock or whatever. They get effectively infinite money
00:28:31.240
from the Federal Reserve to buy houses propping up these prices and driving people out of the
00:28:35.960
market. That was the big controversy a couple of years ago. But the big thing that is disconcerting
00:28:40.800
to me is when the boomers die and we are at the mortality cliff for the boomer generation,
00:28:47.020
they're now hitting 79, 80 years old, which is life expectancy. The estimates are within the next
00:28:52.460
five to 10 years, we're going to lose more than half, maybe two thirds of the boomer generation
00:28:56.180
because, well, they're old. Who's going to inherit these properties? Well, it's going to go to a lot
00:29:02.160
of their kids. These are going to be middle-aged millennials who aren't going to want to move back
00:29:07.320
to St. Louis or Nebraska or whatever it is their boomer parents live. So they're going to try and
00:29:11.680
sell the house. That's usually what happens when someone inherits a house. They're going to put it on
00:29:15.500
the market. Oh, you know what? It's a bungalow. But in 10 years, it's a $750,000 bungalow because the
00:29:21.960
prices go up. Well, guess what? Nobody can buy it. No Gen Z, who's in their late 30s, can afford
00:29:28.640
a million-dollar bungalow, nor do they want to live in these areas. So what does the millennial do?
00:29:33.660
They tell their agent, look, just drop the price. Now it's $700,000. Nobody buys it. Now it's $600,000.
00:29:38.700
Nobody buys it. Now it's $500,000. Nobody buys it. Because millennials aren't buying. Gen Z ain't buying.
00:29:44.140
There is going to be a massive deflationary reaction in the system that's going to put people
00:29:50.020
underwater on mortgages. Some of the people—so that's what's going to happen when they inherit
00:29:54.320
the houses. But for all the millennials and Gen Z who buy on mortgage a million-dollar bungalow,
00:30:00.740
and then after this crash now have a million-dollar debt note on a $500,000 house underwater,
00:30:06.400
it's going to be economic crisis. And the Republicans and Trump, they're not doing anything
00:30:11.660
to prepare for this, at least it seems. Yeah. I mean, I think that's essentially right.
00:30:17.240
You know, there's a—and how exactly it plays out will be interesting to see. But that's right.
00:30:22.500
I mean, it's an artificially bid-up price that is unsustainable, that you're not going to be able
00:30:27.660
at a certain point. There's just not going to be buyers that are left for this stuff. And I will say
00:30:32.060
that, you know, this is really why I have so much contempt for the boomers as a generation.
00:30:38.340
And I like some of them. My mom's cool. But I really—you know, it's like, did you—it just seems like
00:30:44.740
as a generation, the fact that they didn't all stop and go, whoa, whoa, what are we doing?
00:30:50.960
We are totally screwing over the next generation. Like, we can't be for this. It just seems like
00:30:55.160
as a generation, they went, hey, I bought this house five years ago for $300,000, and now it's
00:31:00.320
$1.2 million. Isn't that neat? Well, look at such a—oh, go ahead.
00:31:05.280
No, no, but you didn't think like, oh, but this makes it impossible for my kids to ever buy a house.
00:31:09.420
Like, what we need in this country is deflation. And ever since the Great Depression, that has been
00:31:14.980
the great enemy of the central bank. But deflation is actually a healthy sign. Deflation is what a
00:31:19.760
healthy economy ought to produce. All deflation means is that—well, and I mean price deflation
00:31:25.480
when I say this—all that means is that we're being more productive, and so things are becoming
00:31:30.300
more affordable. That's what a healthy economy looks like.
00:31:33.040
Look at Social Security as the best example. Because with all due respect to boomers, there are a lot of
00:31:37.580
great boomers. They made Star Trek The Next Generation. I love it. But as a generation,
00:31:42.520
Social Security is the best example. Because I talked to boomers, and I'm sure you've heard the
00:31:45.820
same thing. I will mention it's going to become insolvent. You need—right now, I think the number
00:31:51.840
is 4.3 taxpayers to support one Social Security recipient. The system can't sustain itself, and Gen Z
00:32:00.460
is struggling to afford things as it is. If Gen Z can't buy homes and have families, our country is
00:32:06.320
cooked. And then what am I told? Buy 100% of boomers? I paid into it. It's my money.
00:32:13.720
Well, you know what? I got to be honest. I hear you. But the problem is, this generation,
00:32:21.580
largely, it's where we begin to see the, I understand the system is broken, so I better get mine.
00:32:28.300
It is the departure from the, ask not what you can do—ask not what your country can do for you,
00:32:33.820
but what you can do for your country. It radically transformed into the, everyone else is out for
00:32:39.140
themselves, so I better be too. And that has pushed us into this period now where Gen Alpha is 40 million.
00:32:46.880
Millennials didn't have kids. Gen Alpha is half the size of Gen Z, which means Gen Alpha,
00:32:53.780
now entering the workforce. They're 15 years old, about turned 16, is when they should be entering
00:32:58.820
the low-skill portion of the workforce. Don't exist. So what are Democrats doing? Import as many
00:33:05.160
people as possible to offset this. That will only make it worse. Ten years from now, it is going to
00:33:11.560
be wild. And I hear from people that say, don't worry, Tim. Robots will replace the workers. But you
00:33:17.260
know what? It won't replace the customers. That's, it's an absurd notion. So I, unfortunately, I'm a bit
00:33:24.520
pessimistic on what the future's going to look like. I don't know how you feel, though. Are you happy?
00:33:28.280
Well, you know, I try, I try to stay optimistic about the, uh, the long run, but I will just say
00:33:33.420
that, look, this is just, on the bottom line of it is, is just that Medicare and Social Security are
00:33:39.100
completely indefensible. They're just completely indefensible. And this, this nonsense that you paid
00:33:44.100
into it. No, you paid into your government and they blew that money. They not only blew that money,
00:33:50.680
they blew that money, then borrowed some more money and that wasn't enough. So then they printed a whole
00:33:54.620
bunch more money after that. That money doesn't exist. It would be a different statement if we
00:33:58.940
had ever put it in a lockbox and you were talking about your money that you were putting in. The fact
00:34:03.180
is that Social Security and Medicare are giant wealth redistribute, uh, wealth redistributive
00:34:08.960
policies that redistribute from the poorer to the wealthier. It is indefensible. There is no
00:34:14.600
capitalist or no socialist who can defend a redistribution from a poorer group to a richer
00:34:19.480
group. And we should abolish all of it. And Trump is very bad on that. Yeah. I don't think you'll ever
00:34:24.860
get it. It goes back to the same argument. Give me one politician and it's maybe Massey and Rand Paul
00:34:31.700
who's going to campaign and saying, vote for me and I'll cut your benefits because the attitude of the
00:34:37.940
individual is going to be, I know the system may be bad, but it's sinking. So I better take mine.
00:34:43.060
And that's where we're, we're going to keep going. Maybe this is the fourth turning. The system's
00:34:47.960
going to buckle some kind of conflict or controversy or depression and the strong will survive. And from
00:34:54.120
this, it will restart. I don't know, but Dave, it's been great. You have any, you want any final
00:34:58.600
thoughts and where, where can people find you? Yeah. Thomas Massey and Rand Paul are right. The
00:35:03.260
libertarians are right about all this stuff again. Comicdavesmith.com. And part of the
00:35:08.100
problem is my show. Always great talking with you, Tim. Thanks for coming, man. I really do
00:35:10.880
appreciate it. We'll, we'll see you again soon. Absolutely. Take care. That is of course Dave
00:35:17.480
Smith. And I love the controversy around all of these personalities. It's like Dave's got opinions
00:35:23.740
on war or Israel, whatever. And then everyone gets mad. Look, man, everybody's got opinions on
00:35:30.060
different things. I'm willing to be friends with even leftists and argue with them on the bad
00:35:33.300
things. If we can focus on the good things we can get done. And that's why I'll give a shout out to
00:35:36.880
Cenk Uygur of all people, despite the bad views he's got. Cenk has long said, okay, fine. Can we,
00:35:43.020
can we map out where we actually agree and just do it because we want that to happen? So for a lot of
00:35:48.080
us, it's ending the war machine or spending more money in America. And if we can get done what we
00:35:54.640
agree on, we agree on that. But I got to say, I think the libertarians are right on most of this
00:35:59.040
government spending. You cannot create a culture that says we will fund your life even if you don't
00:36:05.780
work because 10, 20 years later, this is what you end up with. Now I'm actually in favor of EBT
00:36:13.920
and snap and all that stuff, but it's got to be strict and rigid. Dave mentions the shame. Yeah,
00:36:20.860
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I've been in Seattle for two, it might have been three months. Because I think they give you three
00:37:26.060
months and then it stops and you have to re-up. And I didn't. I had it for probably three months.
00:37:30.300
It was 140 bucks a month or something. And I felt embarrassed. But it was, you know, the reality was
00:37:36.240
I thought I'd find a job and I struggled. And then I had people say, hey, look, man, you pay taxes,
00:37:40.560
right? You work, you pay taxes. It's here for you when you need it. And I said, okay, look,
00:37:45.440
I'll only use what I need. And what I bought groceries, cold foods. I didn't abuse it. And
00:37:50.400
when I found a job, I said, I don't need it anymore. That's the way it should be. And it should
00:37:54.940
be embarrassing. I don't think you need to be overly embarrassed or ashamed that sometimes you
00:37:58.980
need help because I'm for that system. I am not for people screaming, it's your responsibility to feed
00:38:04.160
my kids. I'm not for a system where people intentionally don't work and game the system.
00:38:08.600
That needs to be purged, that system, and cleaned up. So I'm with the Libertarians on this one.
00:38:14.760
My friends, DeVore Darkins is going live. He is live now. We're going to send you on your way to
00:38:21.320
join his show. And man, this guy, he's rising the ranks. He's got a fantastic show. I'm a huge fan.
00:38:26.580
It was awesome to hang out with him when we went to his studio. Check out his show. You can follow me
00:38:31.940
on X and Instagram at TimCast. Share the show with everyone you know. We're back at 8 p.m. for TimCast IRL.
00:38:37.920
We will see you at the DC Comedy Loft November 8th. Get your tickets while you can.
00:38:42.840
Thanks for hanging out and we'll see you all next time.