The Podcast of the Lotus Eaters #1135
Episode Stats
Length
1 hour and 29 minutes
Words per Minute
183.35815
Summary
The lads discuss Donald Trump's new trade deal with China and the implications for the dollar and the rest of the world. Also, Harry thinks aliens built the pyramids, and the lads debate whether the moon landing was actually a hoax.
Transcript
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Hello, and welcome to Podcast of the Lotus Eaters, episode 1135 on this, the Thursday
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We have the three most based Lotus Eaters all in one place.
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We're going to be talking about tariffs, because everybody's got it wrong, apart from me, obviously.
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Harry, you've been thinking about assisted dying.
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I mean, we can't legally encourage you, can we?
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And Beau is going to be talking about aliens building pyramids or something?
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Wait, so no moon landing, but aliens built the pyramids.
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Right, you continually misrepresent my position on this.
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I have legitimate questions about it on both fronts, and I hear...
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But let's get the game face on for the Utahds, so I can do the first segment.
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Samson's just adjusting the cameras and everything.
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Right, anyway, we're going in and out of focus, Samson.
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So, Donald Trump has brought in his tariffs, and it's upset everybody because it is bigger
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I mean, isn't this exactly what he's been saying he would do since before he was elected?
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Yes, he's been saying he would do this if he's in a position to do so, and he's actually
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The worrying thing for me is that every single take I've seen on this is just plain wrong.
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Every take on the mainstream media, on the financial press, on the Republican side, the
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MAGA side, the libtard side, everybody is not getting this.
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Actually, if you just read a little bit deeper into what Trump is saying, his side comments,
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I will not be getting into the role of the dollar itself.
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So, we've got this Brokonomics on the Empire of Dollars that addresses that angle.
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So, if you've got any comeback on, I didn't explore that option.
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If I do a Brokonomics on tariffs, I'll get into all of this.
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So, first of all, let's get into the actual big news itself that came out last night and
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Let's play a little bit of this so we just get a feel for where the man is at.
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So, if you look at that, China, first row, China, 67%.
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That's tariffs charged to the USA, including currency manipulation and trade barriers.
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We didn't want to bring – it's very windy out here.
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We didn't want to bring out the big charts because it had no chance of standing.
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Fortunately, we came armed with a little smaller chart.
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So, we're going to be charging a discounted reciprocal tariff of 34%.
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They will be, because we never charge anybody anything.
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You know, you think of European Union, very friendly.
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So, he's basically just taken the tariffs that they're charging the U.S.
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I mean, I won't play the U.K. bit, but the U.K. gets like a 10% tariff.
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I mean, we've got a 2.5% fee that we charge everybody, and that's about it.
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And you could try and claim that he's factoring in VAT or something like that,
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And by the way, I'm on Trump's side on all of this.
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I'm just saying that the framing that he's giving us is not actually correct.
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So, he's framing it as if those are the charges of stuff of American goods going in,
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Because this is actually going to be a tax raise on Americans.
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And again, actually, I do support it, and I'll get into why.
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Only if they're buying the foreign stuff, though, right?
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But, I mean, tariffs are paid by the country that they arrive in.
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So, you know, you can't, I mean, you can't tax somebody with it now.
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With tariffs, just to clarify for me, if you are an importer, when you import those goods,
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you pay the people who are exporting it, and then the tariffs you pay on top of that.
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Well, no, you pay a duty when you receive something in.
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If you just buy an American car instead of a European Union car or a Japanese car,
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But wouldn't the costs come back if the materials that have been used to build that car
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have been imported themselves, and they have the tariffs on top of them?
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Yeah, that would push up the cost, but still, you want to be doing the value-add bit in America.
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So you want to do as much in America as you can.
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The whole point of protectionism is to encourage domestic manufacturers, as far as I'm aware.
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This is something the entire commentariat cannot get their head around, what's going
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And essentially what it is, is because America is in a completely unsustainable position,
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and they just can't kick the can down the road forever.
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Now, I'm going to give you one line, because it was like 50 minutes long, this thing, and
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it's mostly him telling us how great he is and how everybody loves him, which is fair
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But there was one key line at the end, so I'll read that.
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Now, if you want your tariff rate to be zero, then build your product right here in America,
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because there is no tariff if you build the plant, your product, in America, Trump said.
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Now, let me just build up on my point about how the current situation is unsustainable.
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Because the entire commentariat, even right-wing commentariats, are coming at this from the
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line of this is a variation of where we are now, and it put costs up against where we
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Yeah, I mean, it is a bit busy, but I'll point out the key areas.
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So the US national debt, it's like 37 trillion.
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That's about 100 grand every five seconds it's going up.
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So the US is spending 7 trillion every year, and it's collecting in taxes 5 trillion every
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So in fact, I'll quickly go to the world level that just gives you the quick balance.
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Right, so the US debt and its GDP is about the same thing.
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Now, that's actually quite helpful when the two numbers are the same, because then you
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simply need to ask one question, which is growing faster?
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The debt is growing faster, and therefore the debt will consume everything if this isn't
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So the current situation that the US is in is insane.
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As you can see here, the US does not have a tax-raising problem as such.
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But all the time, it's got that enormous 2 trillion deficit.
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So when you hear about how mad it is, just remember that, no, where we are starting from
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The US needs to cut its spending, and that's what Doge is all about.
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And it's going to have to raise a bit of revenue in the meantime as well, because it's
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Do we know where most of that spending is coming from?
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Because I've recently started reading Super Imperialism by Michael Hudson.
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And in the introduction to that, he talks about how in the 1970s, when he originally
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wrote it, he'd done some kind of revenue check of how the US was spending its money and found
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that basically the entirety of the deficit was going off into international military spending.
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But a lot of people would put it down to the military-industrial complex.
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So basically, it's transfers to boomers, people who don't want to work, blowing stuff up, and paying debt.
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So first of all, Medicare, Medicaid, that takes up one and a half trillion.
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Social Security, that's another one and a half trillion.
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I think it's much bigger than that number once you factor in all the intelligence services
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But yeah, it's probably closer to another one and a half rather than just under one.
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Because at least with that, you've got happy boomers.
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At least with that, you've got people in inner cities waddling around getting corn syrup
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And at least with that, you get to watch a pretty explosion.
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But this bit, that debt interest, that's just a trillion that is just going up in smoke.
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That's just the bill coming due on all the rampant spending of the past few decades.
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So annoying when you get an overdraft, you get charged for using your overdraft.
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Or when you look at the interest on your own mortgage.
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Will that be interest that they need to repay to, what, their own banks?
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Some of it will be their own citizens' pension funds.
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Some of it will be, you know, the sovereign wealth fund of Saudi.
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But the thing is, he can't just come out and say, I'm going to...
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But he can't come out and say, I'm raising taxes on American.
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Although all his critics are going to make that claim.
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But actually, it's more about reorientating stuff.
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And that is what he's actually trying to change.
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Interestingly, it appears that it's been derived from a simple Excel formula.
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Rather than what he's claiming, which is reciprocal tariffs.
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the numbers saying what the other countries are charging the United States,
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You talk about free trade or Donald Trump's enemy of free trade.
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It's saying tariffs charged, including currency manipulation and trade barriers.
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I mean, a lot of these countries do have effective tariffs against the United States.
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I mean, if you look at some of the big ones there, like Vietnam is massive,
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or Cambodia, or Myanmar, so on there, Madagascar, I mean, or Laos.
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It's funny, actually, with the Vietnam War countries.
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Madagascar, not Madagascar, a big threat of importing American goods.
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I mean, what is Vietnam and Madagascar importing from the United States?
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Now, it's all worked out on physical goods, which is key.
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So if you are a Lotus Eaters subscription holder, don't be worried.
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You're probably not going to get tariffed for watching the Lotus Eaters.
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Although the Islander probably will get tariffed.
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I was just going to say, what about the Islander?
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But at least the UK is down at 10% because we also have a fantasy economy.
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And actually, on the point of how these were worked out, some guy figured it out.
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So basically, what they're doing is they're taking the trade deficit divided by the exports,
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So that's quite low resolution anyway you cut it there.
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But essentially, what it's doing is people who send us real stuff, if we're not sending
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them an equal amount of real stuff back, they're getting a bigger tariff.
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And that kind of explains why Vietnam, the rate is so high and why China, the rate is so
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It's because those countries are actually doing real things.
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Well, I mean, in Vietnam, I don't know how much it's manufacturing.
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It's probably sewing a lot of T-shirts and stuff like that.
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A lot of garments are probably being made there.
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And America, of course, doesn't need to, well, doesn't send much to Vietnam.
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So effectively, what he's, the way you've got to think about this is he is going after
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He wants to rebalance real things being moved into the United States and real work being
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And the criticism of all of this is you're going to push up costs.
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But let's get to the sort of big takeaway here.
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I'm going to show you what the real U.S. economy looks like.
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My co-workers keep saying I need to make it like a tech TikTok.
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Because if you look at my TikTok, you never guess I have a job.
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Callie and I are what you call product managers.
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So we work on like anything from activating your credit card to freezing, reissue, shipping,
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We help prioritize and help the engineers stay on track and help them know what to build
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So you might have a team, like the engineers actually do the developing, the coding,
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You know when a little kid, a small child, like a five or six year old, starts parroting
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adults and obviously don't know what they're saying.
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Or perhaps a foreign language actor doing Shakespeare and they're just reading the line.
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But they obviously have got no idea what they're saying or what they're talking about.
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That was the impression I got about these two young ladies.
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I was thinking more like when a small child wants to help you do some DIY housework and
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So you give them, say, a nut and a screw and you say, solve this for me.
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And they go off in the corner and they think that they're helping, but you're just getting
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So that, right, except we, well, we in the Western world have created an entire society
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and an economy that made up work for women has become the economy, right?
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So she's probably getting paid 60, 70, maybe 80K a year.
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I mean, do you remember those TikToks from a few years ago of my life, a day in the life
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of a Chicago tech worker and it's just girls going for brunch with their friends?
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They sit down for half an hour, answer a few emails and then they go and play pool for
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Yes, when the lefties say that these tariffs are going to damage the US economy, yes, it
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will damage the US economy, but that's because the US economy is not entirely.
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It is not a well-engineered, perfect structure with no faults that must be preserved because
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No, it's an economy run on debt, importing cheap plastic tap from China.
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Meanwhile, you have good men in large parts of the country hooked on opium and unemployed
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because there's no real work, no manufacturing, nothing tangible, nothing real.
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Bullshit wankery like this is happening in the West.
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And basically, those high tariffs, as you saw before, they're targeting the real stuff.
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They're creating an incentive for that real stuff to be sent over and done in America,
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You're going to see some people saying that the low tariff that UK is paying is a Brexit
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dividend or something like that, or Keir Starmer's cool negotiation handling of Trump.
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It's because our economy is as much bullshit as their economy.
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And therefore, we don't make any real stuff because Asia's doing all of it.
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And so therefore, we get a low tariff rate because we're also a bullshit economy.
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The other angle I saw, which I thought was palpably nonsense.
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It was a picture, cartoon, drawing, meme of Trump taking a piss.
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And the piss is just blowing back into his face.
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And I was like, no, no, no, no, that's not right.
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If Trump wants to increase manufacturing in the United States,
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it's in favour of massively hiking taxes on large corporations.
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Except for when all of a sudden it's done in the form of tariffs,
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Because it's a tax that might encourage large corporations
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to actually onshore work that could help American people.
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I mean, rather than just give out free handouts via...
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The lefties can't get their messaging right on this stuff.
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because it's easy for everyone to get their mind around.
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look, if you want to sell tons of Toyotas in the United States,
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just build a Toyota factory in the United States.
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But honestly, the entire commentariat cannot see this.
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And just to return to your point about the comic
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Because next time she wants to buy a flat screen TV,
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I don't know how many TVs are produced in America.
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A bit like the car industry and stuff like that.
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But the game plan here is not to look good week by week
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And I kept on saying this throughout the Biden presidency.
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with his debt and his insane government spending
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And then they'd just revise it like a year later
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but the economy is not going to readjust that quickly.
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because all of the cost is going to fall short.
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He's only been in for like 100 days or something.
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And he's already pulling sort of big moves like this.
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And I watched whole loads of news panel reactions
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And they're all basically saying the same thing,
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just in a really boring and missing the point way.
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And eventually I found a comment on Zero Hedge,
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Unthinking cretins deserve to be coming down on a pike.
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Four exclamation marks after the word Americans there.
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is that next time he goes to buy a flat screen TV
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and there was so much manufacturing being done,
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that were almost entirely able to sustain themselves
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that are capable of being entirely self-sufficient
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why they can't become a powerhouse of manufacturing again.
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and somebody willing to destroy the US economy,
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because I don't think we've ripped into him enough either.
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and it turns out that the three uh italian scientists
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they did like a three four hour press conference on it
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it's really good detail i thought from metatron
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he's always been very objective in all of the videos
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i would recommend ayahuasca in these circumstances
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no that's what that's what you want before going on the podcast
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why do you think dan's always so full of energy
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i do not recommend any of our viewers to do anything like that please
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and so one of the last things i wanted to just uh
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you don't need to make up more things i don't think