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00:06:13.940So our last caller was saying, you know, well, you know, Smoot Holly, you know, you can use tariffs to protect.
00:06:20.460There is a conversation that we have to have right now.
00:06:26.600We have to have because of artificial intelligence, automation, robotics, you know, entire categories of work dissolving quickly, you know, not in a generation, maybe not even in a decade, maybe in the next few years.
00:06:43.340Factory workers first, factory workers first, you know, I reached out to Elon Musk and said, for my museum, I want one of the first Tesla robots for the museum.
00:06:53.160I want to keep it in the box and keep it in the museum, the first mainstream robot.
00:07:00.960All of the robots for the first, I think he said two years, he may have said one, all of the robots that Tesla will be making for the first two years will be for Tesla.
00:07:10.820Think of how many robots he's going to be making in a two year period.
00:07:17.760And all of them are going to be for Tesla.
00:07:28.020So, and that's coming quickly, really, really fast.
00:07:32.100So it'll go the factory worker, then the truck driver, then the coder, then the accountant, you know, the analyst who thought they was immune from everything because, you know, I work with ideas.
00:07:49.620Well, the world is going to talk about universal basic income, and I am dead set against that, but that's the only thing anybody is talking about.
00:07:59.200I went back and I did my homework last couple of days on Milton Friedman.
00:08:03.340Milton Friedman was kind of for UBI, but a different kind of UBI.
00:08:08.320And he may have the answer that is a bridge, at least.
00:08:13.960When the world is in a panic, that's not the time to discuss things.
00:08:17.780You discuss things before you're in a panic.
00:08:20.060You make decisions before there's an emergency.
00:08:40.160The communists, the social planners, the Davos crowd, they're going to offer it all as, not as a temporary bridge, but as a permanent arrangement with you.
00:08:52.860A managed society, a population that is pacified, production, centralized, dependency, normalized.
00:11:52.180So when we're talking AI, technological advancement is going to become so severe at some point that AI could create pockets of severe displacement.
00:12:05.800And with that, you'll either get violent populism, authoritarian redistribution of wealth, or a market compatible safety valve.
00:12:15.280And that's what his negative income tax was a pressure release without central planning.
00:12:20.420This is absolutely critical to keep the choice decentralized.
00:12:28.480The individual, you still get to choose how you spend the money.
00:12:32.040The federal government doesn't decide on which apartment you can rent, what food you can buy, which training program you have to attend.
00:12:38.300None of that shrinks shrink down the state.
00:12:42.120But as you create a floor for everybody, this is very different from modern UBI.
00:14:02.640Honestly, will we choose the right thing?
00:14:08.420You ever feel like you just need a moment to take a breath?
00:14:11.100I mean, not a vacation, not a week off, just a little space, a little room in your chest that isn't filled with numbers and due dates and interest rates that never seem to sleep.
00:14:20.460For a lot of people, that pressure isn't coming from one big disaster.
00:14:23.640It's just coming from a stack of high interest debt that just sits there month after month,
00:14:27.520quietly draining your paycheck before you even get a chance to use it for something that actually matters.
00:14:35.920Personal loans that looked helpful at the time.
00:14:38.140That's where American Financing can step in and help you.
00:14:41.140They are a salaried, employee-owned company, which means their mortgage consultants aren't paid to push you into something that doesn't make sense.
00:14:48.920They'll take the time to look at your full financial picture and see whether consolidating high interest debt into your mortgage could lower your monthly payments, reduce your interest that you're paying overall.
00:18:10.680India's Ministry of Defense briefly posted and then deleted that the Indian Navy had begun intercepting and seizing the Shadow Fleet oil tankers.
00:24:43.360I can't remember what that was called.
00:24:44.820But anyway, something formed called the Quad.
00:24:47.720Bangalore grew, the Quad was formed, relations start to thaw, suspicion still lingered, India still balancing their relationship between Moscow and the United States, not choosing side.
00:25:03.900What you're witnessing now is different.
00:25:07.160The U.S.-India relationship has been thawing because of India's Silicon Valley.
00:25:13.120What they realized is that we need to integrate with the U.S. and the West on tech.
00:25:20.840U.S.-India tech integration has to happen.
00:25:25.080Massive Indian migration to the United States.
00:25:29.060Shared software, AI, semiconductor, defense innovation ecosystems, and then a detox in India from the Cold War socialism that they were going through.
00:25:43.120India began tying its future to the West and Western capital, Western markets, Western technology.
00:25:50.600And it was the first slow shift from Moscow.
00:25:54.400Now I think India is looking at who's going to win AI, who's actually playing for the world, who actually has a solution that will work and that will want partners.
00:26:09.260Then, like I said, the Quad, that's the United States, India, Japan, and Australia.
00:26:13.620After the tsunami in 2004, they joined this thing, and then it kind of went dormant.
00:26:20.880And then it was revised as a balancing coalition against China because China was, everybody knew, China was growing in maritime power and aggression.
00:26:29.420So India agreed to sit at the security table with America and the Indo-Pacific.
00:26:35.300India acknowledged China as a structural threat.
00:28:21.820I believed and I believe sincerely that free markets are not just efficient, but they're moral.
00:28:30.640And I still believe that free markets are moral, that voluntary exchange between borders lifts all boats, that protectionism is a relic of fear.
00:29:48.100The founders, and there's a great George AI on income tax.
00:29:53.560Unrelated to this, it's so funny because the George AI came up and I'm like, oh my gosh, this is exactly, I mean, this is tied directly to what I'm talking about today.
00:32:08.800The federal government untethered itself from trade and tethered itself to your paycheck instead.
00:32:14.960However, it didn't fully untether itself from trade.
00:32:19.120And this changed everything because by 1930, Smoot-Hawley come in, and they're rightly or wrongly blamed for worsening the Great Depression because tariffs were imposed.
00:34:21.520It works when your trading partners are not subsidizing industries, manipulating currencies, stealing intellectual property, weaponizing supply chains, using slave labor.
00:34:32.780We've said those things, but it never gets you over the hill.
00:36:23.680The era of effortlessness American dominance is over, okay?
00:36:29.920Unless we rebuild, unless we retool, unless we think out of the box, unless we start new strategies, unless we start saying, wait a minute, this doesn't work.
00:37:02.840It's been refreshing to have a guy who will listen to you, actually take you seriously, listen, and then say, thought about that, thought about that, thought about that.
00:37:19.160I believe because he has the vision to see the world economically as it truly is, but also the vision to see economically, business-wise, how it can be.
00:37:34.960He understood tariffs are not just punishment and higher prices, okay?
00:37:40.820You use tariffs strategically as leverage, as negotiation, tariffs as industrial policy without the bureaucracy, tariffs used strategically, not universally, tariffs used as a tool to bring trading partners to the table, tariffs being used to build domestic capacity.
00:38:02.240When he keeps saying about these $18 trillion, everybody just, they blow it off like it's no big deal.
00:38:11.740That's just about half of our entire national debt.
00:38:16.860That $18 trillion is not being given to us.
00:38:20.000That's foreign countries saying, I'm going to invest and build factories in your country, and I'm going to build about $18 trillion worth of factories.
00:39:06.940I think we as a nation understood the other side in the 1940s and 50s, how they could be strategically removed and work to our advantage, but for a limited time.
00:39:18.400Instead, we married into them and said, universal principle.