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00:19:02.800We've talked about that. Before that, I'm worried about a big economic disaster.
00:19:07.940Suicide light, suicide light. Okay, I'll try to back that down. We'll save that for another time.
00:19:13.320The singularity and all that. Yes, what I'm concerned about is that there is a ton of data,
00:19:18.720a ton of data, not just one thing or, you know, not crazy third party reports, IMF reports,
00:19:25.460fed reports that are saying look at all of the debt that ai is now dependent on look at how small
00:19:35.520the number of customers are that these big ai firms that are all built on debt are dependent
00:19:40.300all the way they're giving it all away and um just to give you one example of this that just
00:19:46.000came out recently uh there was a report came out earlier in october from the federal reserve bank
00:19:51.720of Kansas City. And it talked about, it analyzed all these AI firms and how dependent they were
00:19:58.300on debt. And what they found was that many of them, tons of them are running on 80 to 90% debt.
00:20:07.920So they are not actually producing products that people are buying. They're just going into debt
00:20:13.820and using that as cashflow. And they get more and more cashflow and they just burn the cash
00:20:19.320on the business, but they don't actually make any money. They're literally dependent almost
00:20:24.400entirely on debt. In the first half of 2026, $330 billion in investment grade bonds, that's debt,
00:20:34.600was produced. That's 10% of the total investment grade bond that was issued. It was 2% in 2023.
00:20:44.300So, of the total market of a debt that's going into investment-grade bonds, so big corporations, people investing in corporations, 10% of it, it's multiplied by five times in just the past three years.
00:20:57.480And so, how much debt does this all amount to?
00:22:51.160It seems like they're all just waiting for widespread adoption from all the different corporations.
00:22:58.480They're all going to integrate it in their systems and then they're going to make lots of money.
00:23:01.780But how? Because you're integrating, I mean, I know lots of companies that are integrating AI into their systems, but not a lot of them are paying very much.
00:23:12.380Right. And that's the problem. That is exactly the problem. And it's only going to get worse.
00:23:17.820Because what's happening is you have China, who's coming in and undercutting all of these US companies.0.96
00:23:23.620They're stealing IP and then they're just undercutting them.0.98
00:23:26.100then you have open source ai which is free and they're building ai open source ai models that
00:23:32.080are free and that's going to undercut all these businesses as well this is why i think that they
00:23:36.140are trying to scare the hell out of people and they're trying to say we have to have all this
00:23:40.660regulation because they know that open ai that's all free and able to do things now they didn't
00:23:48.380buy into all that debt they waited and waited and waited and now they can they can produce the same
00:23:53.620kind of stuff at a much lower cost without any debt and it's free and i think the big boys are
00:24:00.680like we need the protection of the government we need you to set up rules to shut those guys down
00:24:06.020because they will collapse that yes they'll collapse they don't have the debt i would go a
00:24:11.340step further and say that i think monetary policy almost entirely now is being driven by this ai
00:24:19.420bubble. I think the reason the Fed has not cut rates, we've talked about how cutting rates makes0.97
00:24:25.400a lot of sense. The data historically does not show that when you cut rates, it has this huge
00:24:31.320inflationary effect. That's just a myth. It's not true. Why are they raising rates when we have all
00:24:38.260these problems? The government can't afford the debt. We know that. So they're raising rates.
00:24:42.000Government can't afford to pay it back. So why are they doing that? Why are they pushing it up?
00:24:46.100Why? Because I think they know that if they actually cut rates, this massive $3.5 trillion plus AI bubble that already exists, that's already a problem, and I'm sure they're worried about it, will only get bigger. What would happen if the Fed came out tomorrow and they cut rates, slash rates?
00:37:12.860The same letter, he figured he might eventually marry some old maid who could nurse him while he was sick and cook a good dinner for him when he wasn't sick.0.73
00:38:29.360So to the young Turks, congratulations.
00:38:31.740You spent a fortune to confirm what every waitress in every diner, you know, in South Carolina would have told you for the price of a sweet tea, sweetheart.
00:38:43.040but i have to tell you the larger point is not missed here you've took an effort and you tried
00:38:57.660to affect this election and in reality this is a really incredibly cruel move
00:39:05.680all done in the name of politics you are such heroes aren't you0.98
00:39:10.660because it's all politics that's the that's what the young turks you think they did this because
00:39:18.320they cared they can't understand why a lifelong christian may see same-sex attraction as something
00:39:27.080to try to overcome and so they laugh at the idea they scoff at the idea they use it for politics
00:39:33.300but it really isn't funny in the end it's not funny i'm not making fun of lindsey graham i'm
00:39:38.020making fun of them, that they actually thought this would affect anything.
00:39:47.400And they actually thought, while lecturing us about not involving family in Ohio, releasing
00:39:54.280this and trying to say, no, no, the point is about hypocrisy.