The Podcast of the Lotus Eaters - The Podcast of the Lotus Eaters #1508

00:00:00.000 Good afternoon, welcome to the podcast of the Lotus Eaters for the 17th of September 2026.

00:00:05.060 I'm joined by Nate and Dan, and today we're going to be talking about things about India,

00:00:10.260 how things are going in India, why everything is getting more expensive, and the complete

00:00:15.360 lack of standards and consideration that we have for ourselves in Britain. So, if you'd

00:00:21.360 like to save us from a fire, go and sign up to LotusEast.com. £5 a month, you can make

00:00:26.380 sure that we can avoid the fire alarm next time. Anyway, so let's begin. So you'll probably

00:00:31.360 remember India's ascendancy in 2025 and 2026 in the collective elite mind. As far as they 0.73

00:00:41.340 were concerned, India was a vast subcontinent full of human resources. We can just bring

00:00:47.780 over those incredible doctors and engineers. Elite human capital, just a whole cion. Elite

00:00:52.380 human capital exactly uh elite human capital is the way they think around so they they wrote

00:00:57.360 articles as well this is going to be the indian century india's winning and is going to continue

00:01:02.220 winning forever um i don't know man i'm not convinced about this okay no i mean they said

00:01:08.520 in this year well india's got a unique role in global politics it's doing deals with europe

00:01:13.160 and then donald trump and maintaining a strong relationship with russia and it's got a large

00:01:17.460 spreading diaspora which everyone is well aware of at this point noticed that part it gives a

00:01:23.540 unique cultural influence around the world it's it's a soft superpower yeah that's that influence

00:01:28.740 that no one asked for or wanted yeah uh and uh it may only increase as other major powers grow old

00:01:35.100 and people remain india's most important export so india as far as they're concerned it's just

00:01:41.720 this cauldron that bubbles up elite human capital forever it's like the elite human capital fountain

00:01:47.600 of youth the highest minds exactly no no possibly comprehend they just you know but you've got to

00:01:52.580 remember this is what the globalist thing like right okay europe dying america dying russia

00:01:57.440 dying you know everywhere except for india which is china dying india's this this vital production

00:02:05.680 productive like crucible of where incredibly intelligent people come from uh and it's like 0.95

00:02:11.920 yeah yeah great point great point when in absolute numbers there's fewer people with an IQ over 130

00:02:17.000 in India than there is in America despite their population size sure but that's your bigotry

00:02:23.520 or something but it is data they've got degrees mate they never ask themselves why is India quite

00:02:30.000 so happy to export its elite human capital like because if you have a country full of elite human

00:02:35.640 capital you don't want them going elsewhere you'd be like no no no we want to stay in this country

00:02:40.360 and make our country the best country it could possibly be and for some reason india's like no

00:02:44.780 out with all of you go and be elite human capital in other countries it's really weird isn't it i

00:02:50.720 mean it's literally the world's largest diaspora so uh do we have a much to everyone's dismay

00:02:57.540 it's it's the world's largest uh there are millions of indians everywhere every year two

00:03:04.520 and a half million indians migrate to foreign countries this means they're the highest number

00:03:09.000 of annual migrants in the world that come from india according to the ministry of external

00:03:13.300 affairs in india there are 32.2 non-resident and a million non-resident indians and persons of

00:03:19.480 indian origin outside of india as of 2023 now that will have gone up if it's like two and a

00:03:25.780 half million years there's probably about 40 million indians outside of india well there

00:03:31.120 that's a huge number

00:03:33.080 for Europe

00:03:35.520 that's the same number of people as there are in Spain

00:03:38.480 it's also what we used to have

00:03:40.340 population wise of Britain

00:03:41.740 and so that's a huge amount 1.00

00:03:44.400 that India can willingly

00:03:46.100 allow 1.00

00:03:46.880 it is a drop in the bucket for India 0.98

00:03:49.400 I know these are big numbers 1.00

00:03:50.780 Canada in particular is the one that stands out

00:03:53.560 Canada's population is quite small

00:03:56.100 and they've got 1.7 million of them

00:03:57.940 if you add all of these up

00:04:00.320 it's like nothing new india correct i guess if you're the the fountain of elite human capital

00:04:08.160 then this isn't a problem is it you know you're you're it's actually essentially a kind of

00:04:12.220 generosity you know actually you know what i can see the rest of the world is struggling

00:04:16.500 have some of our elite human capital like the um ellen degenerate show where they're like you get

00:04:21.960 an indian you get an indian i think that was oprah okay well anyway so in this article they're like 0.89

00:04:28.300 Well, why are the Indians gracing the rest of the world with their presence?

00:04:33.240 The first thing is economic opportunities. 0.99

00:04:35.160 Apparently, it's higher wages outside of India, despite being a subcontinent of elite human capital.

00:04:40.580 The second one is education.

00:04:41.900 Apparently, you've got better education elsewhere.

00:04:45.420 I thought they came over here with great minds, great degrees.

00:04:48.700 I thought so, too.

00:04:49.620 Oh.

00:04:50.040 That was what I was told.

00:04:51.500 And thirdly, quality of life. 0.64

00:04:54.060 Apparently, they get a better quality of life outside of India. 0.94

00:04:56.320 Do we?

00:04:58.300 We'll go on to that in a minute, actually.

00:05:01.700 So anyway, I mean, that's weird that you've got this entire subcontinent

00:05:05.660 full of the world's best and brightest,

00:05:07.940 and yet for some reason they want to leave to have a better quality of life,

00:05:11.060 better education, and more economic opportunities.

00:05:13.900 Very strange.

00:05:14.700 But you can see as a globalist who views all people to be literally

00:05:18.760 like identical widgets that are produced in a factory,

00:05:21.540 we're like, well, why are these Western factories,

00:05:23.920 why is the Chinese factory producing fewer and fewer widgets? 0.72

00:05:27.820 We just need someone that's going to produce infinite widgets for us. 0.90

00:05:31.220 The graph has to go up.

00:05:32.660 Exactly, right?

00:05:33.420 The graph has to go up.

00:05:34.560 And so they've hit on India, and they're like, brilliant. 0.99

00:05:36.460 India is the permanent widget factory.

00:05:39.280 And so we're going to import a bajillion widgets from India, and nobody will notice. 0.99

00:05:45.880 Nothing will change. 0.99

00:05:47.220 Well, it turns out that people have noticed, actually.

00:05:49.120 We talked about this earlier, where everyone was like, wow, that's a lot of Texans in that picture.

00:05:55.640 But it's not just this.

00:05:57.400 I mean, it's literally everywhere.

00:05:59.160 People are like, well, there's a lot of Texans

00:06:01.300 in a lot of American universities. 1.00

00:06:05.820 And then you get ones where they're just kind of like

00:06:07.580 proudly being like, yeah, yeah, yeah, this is going great.

00:06:10.400 In this one, he says, I came here on a H-1B visa in 2004.

00:06:14.520 Everyone was American.

00:06:15.760 Fast forward now, and you don't see any Americans.

00:06:18.440 Ha.

00:06:19.520 I mean, Americans are not elite human capital, are they?

00:06:21.840 You know, this is a very strange thing.

00:06:25.080 uh then you have this is an insurrection it's the road through the united states government

00:06:28.980 why the people with h1b companies registered to one address uh one address donating to frisco's

00:06:33.620 indian first indian mayor well i don't know elite human capital reasons that sounds uh

00:06:40.180 southern somewhere i'm i'm sure i don't know uh anyway oh then you get like oh what's this this is

00:06:48.100 people acting as

00:06:51.360 interchangeable universal

00:06:53.660 widgets.

00:06:54.680 Is it in Texas as well?

00:06:55.840 Is it America?

00:06:57.600 Yeah, it was Texas, yeah.

00:07:00.320 You what? That's in Texas?

00:07:02.440 Yeah.

00:07:03.920 Wow, that's awful, isn't it?

00:07:05.100 I hate looking at that. 0.99

00:07:07.480 I mean, it's just so typically American, isn't it?

00:07:10.580 That's what America is doing.

00:07:11.500 Do you have any context as to what's going on here?

00:07:14.080 None at all.

00:07:14.820 I believe, Dan.

00:07:16.080 it's a rodeo i think it's called a what a rodeo 1.00

00:07:20.080 i believe those are a bunch of indians writhing around on the floor 1.00

00:07:24.860 yeah i'm just i'm just wondering if there's a there's a reason for definitely not a weird

00:07:28.920 pagan ceremony if that's what you're thinking right it's it i it typical i mean this is

00:07:34.200 integration like i said i think it's called a rodeo i've only been to texas a few times i've

00:07:38.880 only been to a few rodeos the other ones i went to they were riding horses and stuff and bulls

00:07:43.700 but like this i'm been a long time since i've been in texas but i have been out there i used

00:07:50.920 to work at texas for a little while and i was in houston uh and also galveston as well actually

00:07:56.760 and um yeah i've been to houston been to austin been to dallas didn't see any of this no i was

00:08:03.200 about to say i never this is this seems to be a new thing yeah the culture has shifted dramatically

00:08:09.140 of texans well it's just these are texans it's so it's so typically texan you see uh and then

00:08:15.900 the thing is you think well hang on a second is that just in america no no no no it's it's here

00:08:20.460 too uh the these are the unique uh interchangeable sorry universal interchangeable human widgets

00:08:27.080 doing very english things on english streets again i'm not really sure what kind of traditional

00:08:34.860 english folk way this is that our interchangeable universal widget has adopted um but obviously it's

00:08:41.500 one of ours you must have done this a few times in winchester or whatever right well i mean i have

00:08:46.140 rolled around in the street but not for a long time and not possibly not in the way because of

00:08:50.220 a festival but because of i don't know lots of beer yeah anyway i haven't even done that on beer

00:08:56.460 so um so yeah that was a bit weird right i mean not not dangerous right you know no one's saying

00:09:03.420 that indians are dangerous people or anything like that um but just a bit weird you know

00:09:07.800 don't know what this is the interchangeable human widget in france we're not getting any sound from

00:09:14.480 these by the way samson i don't mind that actually i think that's preferable just just fyi there's no

00:09:21.540 sound coming through but that possibly not the world's worst thing but i mean i i understand

00:09:26.020 going out in a in a hanky in a big hanky in india because it's very very hot yes but this is

00:09:33.300 france but yeah i mean yeah it's hard to explain um i'm not going to try we will in fact just move

00:09:44.940 along to the next thing which is on london oh is this oh what is this this is a very traditional

00:09:52.660 if i can get the mouse back over uh typical cockney ceremony

00:09:56.440 so the one on top is fishing using another indian as bait or i don't know well again this is

00:10:21.220 i assume ancestral cockney ceremony the pearly kings and queens were a little bit different when

00:10:27.920 i was young so slight sidetrack but do you guys remember where back in must have been late 90s for

00:10:34.640 like five minutes there was a bit of a trend for smell-o-vision and you could buy your copy of the

00:10:39.700 radio times and you would have a little pouch and you could watch tv programs and when you got to a

00:10:45.060 certain tv program you'd you'd open the foil packet thing i do not remember this smell-o-vision

00:10:50.920 for like five minutes it was a thing and you could you could inhale the aroma and you could

00:10:56.340 you could activate your sense of smell on about the thing that you were watching and it never

00:11:01.280 really caught on but there was a period of a couple of months there where they were trying

00:11:04.980 to push smell-o-vision this sounds like a simpsons skit no this is this is a real thing

00:11:09.720 there were there will be people in the comments who remember the late 90s and will remember that

00:11:14.960 i remember the late 90s but i don't remember that well it didn't it never caught on basically what

00:11:20.060 i'm driving at is the more these i watch the more glad i am that smell of vision never caught on

00:11:24.900 there's a reason things don't catch on yes anyway so this again the the interchangeable universal 0.51

00:11:30.340 human widget that india produces en masse that the rest of us have decided not to produce

00:11:35.220 are as as we've covered india's greatest export right we need them we need widgets otherwise

00:11:42.200 GDP doesn't go up.

00:11:44.740 Somebody to run the tech companies and every

00:11:46.460 branch of Tesco. Yeah, yeah, yeah.

00:11:48.140 And every phone call centre, every scam

00:11:50.420 centre. Petrol stations. Yep.

00:11:52.720 Especially Shell. That's a

00:11:54.180 big one. They love their Indians, it seems,

00:11:56.640 now, randomly, all of a sudden. 1.00

00:11:58.340 And on a personal level, Indians don't seem to be

00:12:00.380 personally objectionable people.

00:12:02.340 They're not causing trouble. They're not

00:12:04.240 particularly prone to morality.

00:12:07.120 Yeah, yeah, sure. But

00:12:07.860 on a daily basis,

00:12:10.040 you don't feel threatened

00:12:12.120 when you walk past Indians in the street.

00:12:14.220 They're not prone to criminality or anything like that, 0.91

00:12:16.820 unlike other groups.

00:12:18.100 So Sanjita is not at the top of the crime list.

00:12:21.400 Exactly.

00:12:21.720 So, yeah, you know, like Pooja is not the world's biggest problem

00:12:25.880 when it comes to the police or the integrity of the state

00:12:29.160 or something like that, right?

00:12:30.400 So you can see how the global paradigm is like,

00:12:33.060 hmm, infinite human widgets from a place where the widgets

00:12:36.780 aren't causing problems for the other widgets.

00:12:39.300 That's a cool thing.

00:12:40.700 I like this.

00:12:41.600 and that means we can just use these widgets from this place forever well actually maybe you can't

00:12:50.460 right because despite globalism's apparent you know um gold mine that they've discovered

00:12:56.700 from infinite human widgets high quality elite human capital human widgets uh turns out actually

00:13:03.040 even india is mortal like the rest of the world even india has a limit to the number of infinite

00:13:12.360 human widgets it's actually going to produce nature is healing so i thought we'd just go

00:13:18.140 through this economist article a little bit uh i'll just uh quote from it so in the sprawling

00:13:22.760 slum of delhi what what what i thought what a way to describe delhi whoa and how could you dare

00:13:31.280 describe the engineers and doctors and rocket scientists this way right so i have been to delhi

00:13:36.020 oh yeah and it is a sprawling slum that's unacceptable and when you go to delhi right 0.93

00:13:41.320 because i i was there with like i'm never going to delhi yeah i was there with like business people

00:13:46.440 so a bunch of a bunch of basically the some of the most well-off people in delhi and to impress

00:13:52.060 you they take you to the nice bit of delhi which was built by the british yes and even that human

00:13:59.100 capital even that looks awful i would imagine still no no no the old colonial buildings are

00:14:04.720 fantastic uh i have seen some some videos of the old some old colonial buildings across india and

00:14:09.700 they just left in ruin now unfortunately of course but anyway in the sprawling slum in delhi where

00:14:14.120 parol gayen lived in the 1970s children were everywhere it was not unusual then a mother

00:14:20.140 had been one of six or a grandfather one of 11 so okay but that's not unusual here either my mother

00:14:25.520 was one of six my dad was one of six this is actually completely normal everywhere actually

00:14:30.400 but times have changed miss gain who is now 58 and lives in swapan in a one-bedroom flat nearby

00:14:35.700 of the couple's three grown-up kids only two have decided to have children of their own and they

00:14:40.340 only had one child each and this is just a an indication of a trend that is happening in india

00:14:45.860 so in 1950 india's population was 360 million the average woman had six children roughly the same

00:14:52.620 as an american woman a century earlier today with a population of 1.45 billion india accounts for

00:14:58.960 one-sixth of humanity you know that the the spread of interchangeable widgets one-sixth of them just

00:15:06.860 happen to be located through completely random chance if you did have six children today one 0.98

00:15:11.500 of them would probably be indian that's correct yeah exactly the uh the spiritual lottery would

00:15:17.040 be yeah one of your six children is indian um it had surpassed china as the world's most populous 1.00

00:15:23.220 country in 2023 and it's kept growing growing so you remember that china had the uh ridiculous 0.88

00:15:27.900 foolish one child policy and the globalists are like well hang on a second we can't get our 0.91

00:15:32.440 infinite widgets from china now can we and china's like oh no we're having a population collapse 0.99

00:15:36.100 actually please have children and the chinese like no thanks um and so the total the total 1.00

00:15:42.840 fertility rate in india which of course needs to be 2.1 live births per woman to maintain a steady 1.00

00:15:49.660 population has actually fallen to 1.9 so that means even india is in the same position as we

00:15:58.200 are they're in that same position a bit later on on the curve but the trajectory is still the same

00:16:04.620 right the population sorry gone well maybe because they because they get reincarnated maybe there is

00:16:12.540 only a whatever you got 1.3 billion of them and so they can't go any higher than that they have

00:16:17.780 to start recycling then i mean i don't know i'm not an expo on indian metaphysics one thing i

00:16:23.000 would like to know with indian i'm not really up on it but do if you come if you if you get

00:16:28.100 reincarnated do you come back as an indian or could you come back as an englishman no no you

00:16:31.140 can come back as uh usually non-human things i think yeah yeah well no i'm not being that harsh

00:16:36.940 i'm just saying do you come back as an indian but no no but no i don't think you do i think you come

00:16:42.080 back as a different animal oh i see what you're saying right as in you know i wasn't trying to be

00:16:46.940 harsh i mean i think they actually believe i'll be reincarnated as a fox or something right but

00:16:51.040 could you come back as an englishman is that a possibility because i don't know i'm not an expert

00:16:55.460 that's quite that's quite either that's quite good if you can i i suppose that yes would explain the

00:17:01.300 lack of personal care and safety they take for themselves they're trying to speed up the process

00:17:06.080 yeah oh god i've been i've been dumped in the wrong area yes i want to be in europe uh

00:17:11.000 But anyway, although the population will keep growing for a spell,

00:17:16.180 as the generation that are currently children themselves become parents,

00:17:19.340 a future contraction is inevitable unless the fertility rate rises back above 2.15.

00:17:24.420 In practice, it's likely to keep falling, accelerating the impending shrinkage.

00:17:29.020 In Delhi, for instance, the total fertility rate is 1.2,

00:17:34.420 which puts it about on par with Italy.

00:17:36.440 well so i'm pretty sure what's happening here is is the higher castes more educated it's the 0.79

00:17:42.520 same story when you ask when you start educating these women they stop breeding you know what 0.98

00:17:47.320 you've you've completely presaged oh right what they think the problem is right uh they carry on 0.82

00:17:52.680 india wants a source of angst about exponential population growth you might like thomas malthus

00:17:58.960 is just looking at india like ah oh my god these people are going to eat us to death uh well 0.99

00:18:05.020 actually they're joining the modern club new school textbooks uh will warn that the perils

00:18:10.480 of too few rather than too many children and uh the chief minister of andhra pradesh the southern

00:18:16.320 state of about 55 million is announcing three uh 30 000 rupees so only about 300 payout for couples

00:18:23.140 who have a third child uh so it seems to actually be fairly consistent across india now i they don't

00:18:29.580 give us a caste breakdown so i don't know what caste it is that not having the children or you

00:18:35.000 I suppose it's disproportionately Brahmins and whatever the next one is. 0.67

00:18:38.740 I honestly do not know.

00:18:41.320 We don't have that information.

00:18:43.000 But we can only go through the entire states, right?

00:18:49.100 And in Tamil Nadu, which is 77 million, West Bengal,

00:18:54.020 and as well as in West Bengal,

00:18:56.420 the total fertility rate stands at 1.3, the same as Finland.

00:19:01.620 That's really low.

00:19:03.380 for a continent that in 2019, Modi was warning of a population explosion

00:19:09.040 seven years later.

00:19:11.380 And it's like, oh, right, actually,

00:19:13.720 we don't have infinite Indians to give to the rest of the world. 0.83

00:19:16.920 So basically, India is going to have to decide, 0.73

00:19:19.680 are they going to be generous with their elite human capital, 0.94

00:19:22.760 the infinite universal widgets they produce, 0.98

00:19:25.200 and keep giving us Indians, 0.76

00:19:26.740 or are they going to recall some of those millions of interchangeable widgets back, selfishly? 0.97

00:19:33.060 So to be on the safe side, maybe we should just send back all the Indians now before they run out. 1.00

00:19:37.080 Well, I mean, I'm not saying that. 1.00

00:19:38.360 All I'm saying is India might invoke in you a patriotic duty to return to your homeland, the motherland, and repopulate it. 0.98

00:19:48.440 Well, that sounds sensible. 1.00

00:19:50.000 Anyway, so the average overall for urban India is 1.5. 0.99

00:19:55.020 There's a total fertility rate.

00:19:56.240 Kerala, a southern state of 36 million, is 1.3.

00:19:59.220 And they've been closing schools and importing workers for decades.

00:20:03.060 india is important where where is india importing workers from

00:20:07.280 what like the replacements angladesh i don't know i'm just i'm just trying to think through

00:20:13.720 the hierarchy exactly bangladesh where would you get workers from if you were india southeast

00:20:18.780 asia i guess maybe maybe anyway if you're in southeast asia why would you go to india yeah

00:20:23.920 no i i i'm clutching at straws i don't understand that's new to me i couldn't they don't tell us

00:20:29.840 But isn't that interesting?

00:20:30.920 Anyway, so why is this happening, right?

00:20:32.720 So they say, in the past, in Demography 101,

00:20:35.900 we used to teach that countries reach a certain per capita income.

00:20:38.560 Women get educated and join the labor force, then you get low fertility.

00:20:41.480 But low fertility now is now low in many poorer countries, too. 0.97

00:20:46.260 By far the most important factor for fertility is where the girls go to school,

00:20:50.600 says Lant Pritchett of the London School of Economics.

00:20:54.680 Those with at least some education have a greater degree of autonomy,

00:20:58.100 and over time this leads to fewer children.

00:20:59.940 Falling fertility in India now reflects a surge in girls' enrolment in schools since the 1990s.

00:21:05.340 If a country is able to provide schooling for girls at an earlier age of development than is typical,

00:21:09.500 then fertility will start falling earlier too. 0.91

00:21:12.060 Isn't that interesting?

00:21:13.140 So my trip to India, it must have been about 15 years ago.

00:21:15.540 It was a long time ago now.

00:21:16.920 And all the guys there were already complaining that the girls were getting uppity. 1.00

00:21:20.740 This whole feminism thing was affecting India. 1.00

00:21:24.720 Interesting. 1.00

00:21:25.360 Yes.

00:21:25.580 so it's kind of like a long term plot by the west to destroy well except it starts it starts here

00:21:33.800 yeah so we get it worse than first yeah of course it's like a kind of weird ideological pandemic

00:21:41.300 yes yes that's what it is interesting uh yeah we're patient zero um conservative we're generating

00:21:46.900 antibodies we're generating sargons at this point i hope we are start youtube channels to say like

00:21:51.600 know this feminism stuff bad news well the thing is the indians have been quite um wise to feminism 0.98

00:21:58.260 for a while though that's the problem like the in india they've got like quite strong like men's

00:22:03.040 movements um yes they're well aware that you know sorry no this feminism stuff's terrible it has to 0.99

00:22:08.800 stop would they want their exports back then because they've been infected with the mind 1.00

00:22:14.200 virus of feminism i don't know i don't know but anyway conservatives in western countries often

00:22:19.280 blame falling fertility for the proportion of women in work but actually india is a bit of a

00:22:25.500 strange case in this because uh though in india not more than 90 percent of women get married

00:22:30.360 only 33 percent of them work and we're still seeing the fertility slump there so what are 1.00

00:22:36.180 these women doing at home all day what they're not looking after their kids are they this does

00:22:40.600 correlate to india getting the internet does it yeah no it does doesn't it india recently started

00:22:47.780 getting nationwide internet and they were like giving out for free and stuff like that was quite

00:22:51.980 a mad thing imagine what indian facebook's like oh god bobs and vegana everywhere well it's going 0.73

00:22:58.260 to be women and married women at home oh yeah true complaining about each other right but that's 0.61

00:23:03.020 interesting isn't it like what are they doing at home probably online probably self-educating about 1.00

00:23:07.780 feminism possibly um apparently the majority of women get sterilized once they're finished having

00:23:12.320 kids uh and a typical explanation comes from one woman who says well she and her husband decided

00:23:18.560 all of our resources should go into one child because it's you go to two children and it gets

00:23:23.760 divided but what if the kid goes through swimming the ganges you can't replace him then well well

00:23:30.000 interestingly um india has i think it was something like a 40 child mortality rate

00:23:34.320 like you know 50 years ago but now it's like 10 so it's 10 it's still pretty high it's pretty high

00:23:40.560 but modern medicine

00:23:41.580 it's not as high as our 35% still

00:23:44.480 but also

00:23:47.640 as recently as 2001

00:23:49.880 half of Indian families lived in houses of several

00:23:52.400 generations but now

00:23:54.160 70% of India

00:23:55.900 has been anglicised in that they live in 0.95

00:23:58.540 nuclear families under a single roof

00:24:00.540 the traditional English 0.95

00:24:02.660 way of living has made its way back

00:24:04.600 to India because actually it's more comfortable 1.00

00:24:06.680 to not live with 57

00:24:08.400 other family members in one house

00:24:10.320 Well, yeah, but there's a lot of them, and they're going to need a lot of houses.

00:24:15.960 I mean, is this segment ultimately building up to buy shares in Indian house builders?

00:24:21.980 No. 0.99

00:24:22.840 Right. 0.98

00:24:23.720 There is not going to be an infinite number of Indians forever, dear globalists. 0.98

00:24:28.540 Is this a good news story or a bad news story? 0.96

00:24:31.420 Well, it depends on what perspective you approach.

00:24:34.880 If you're a globalist and you wanted someone that's going to produce infinite human widgets, it's bad. 0.98

00:24:39.560 thank god we got nigeria then if if you are an indian like modi a governor or something 0.95

00:24:46.480 it's bad right if you're someone who lives in modernity and doesn't want to get swamped by 0.89

00:24:53.940 indians everywhere ever bigots it's a good news story yes however i mean the same problems still

00:24:59.980 affect you like they might have a collapsing population but then we already have a collapsing 1.00

00:25:04.840 population so everyone is uh weirdly we're kind of dragging the indians down into our position

00:25:12.840 which uh is strange but anyway um this is a massive concern in india as it is everywhere

00:25:19.700 else honestly um because there is one group in india this isn't happening to 0.88

00:25:24.200 would you like to take a guess they have well you mentioned they have immigrants

00:25:30.600 yes but these aren't immigrants it's not the immigrants there's one group in india is it 0.91

00:25:37.060 the muslims correct bloody courses how did you know bloody always isn't it uh modi's party is 0.92

00:25:46.100 stoking fears that the hindus which are currently around 80 percent of the population 0.99

00:25:50.020 will be overrun by the muslims who are about 15 of the population and of course the fertility

00:25:55.100 in the Muslims is much higher, 0.94

00:25:57.100 but it still is ticking

00:25:58.980 downwards. Now, it's not ticking downwards

00:26:01.080 to population collapse levels.

00:26:03.620 India, following China, 1.00

00:26:05.320 which is following the West, the Muslims are going 1.00

00:26:07.180 down slowly, 0.95

00:26:08.520 but they think it's because the Muslims are 0.97

00:26:11.200 poorer and therefore can't afford 0.83

00:26:12.880 the education the Hindus can get. 1.00

00:26:15.260 So, the point being, 0.90

00:26:17.800 really, ultimately, is that

00:26:19.300 nobody escapes modernity.

00:26:21.480 This is the nature of what being

00:26:23.220 in a modern world looks

00:26:25.220 like. It means people just

00:26:27.120 do not want to have children. Can we get some modernity out to

00:26:29.240 Nigeria, which I mentioned a few moments ago, because

00:26:31.080 their birth rate is coming down, but

00:26:32.960 it came down from 5.3 to 4.9.

00:26:36.480 Let me look that up

00:26:37.300 actually.

00:26:39.400 I didn't... I mean, we need to

00:26:41.220 get some... Maybe when

00:26:43.140 we win, we actually increase

00:26:45.280 the foreign aid budget, but it all goes 1.00

00:26:47.260 into feminism studies. 0.99

00:26:49.640 Yeah, you're right. It's still about 5. 0.99

00:26:51.140 yeah 4.8 in 2026 okay four point yeah nigeria well the thing is be prepared to get a lot of 1.00

00:26:57.960 nigerian elite human capital coming across what we we need to get feminism into nigeria as fast 1.00

00:27:03.760 as possible i suppose so they can take us but anyway so so it's not going to be an indian 0.90

00:27:10.580 century um they're on the same train that we are it's literally anyone who can resist 0.63

00:27:16.440 the total population collapse

00:27:18.720 of their own nation.

00:27:20.940 Ochador says,

00:27:22.040 as part of the better culture debate,

00:27:23.980 look into the Norwegian-born man

00:27:25.040 who grew up in the slums of India

00:27:26.020 getting separated from family on holiday.

00:27:27.900 Very interesting story.

00:27:28.660 I don't know how much I believe that, you know.

00:27:30.420 I haven't heard of that.

00:27:31.380 It's the most weird-looking thing. 1.00

00:27:33.120 It's this proper fat Norwegian guy 1.00

00:27:35.900 with a proper Indian accent. 0.98

00:27:39.080 Does the head as well.

00:27:39.960 Yeah.

00:27:40.400 I don't know how much it's, like,

00:27:42.100 bogus or not.

00:27:42.880 I don't know if I believe it.

00:27:44.180 So bizarre. 1.00

00:27:45.180 When we found India,

00:27:45.980 they were dying at a faster rate than being born. 0.95

00:27:48.460 It's one of the greatest failure of vampire sin.

00:27:49.940 I don't know about that. I'd look into

00:27:51.900 that. There's actually

00:27:53.880 a motorcycle gang in LA called 1.00

00:27:55.920 the Smelly Angels, sorry Punjabi Devils,

00:27:58.460 has been busted for weapons trafficking. 1.00

00:28:00.020 Oh, okay, fair enough.

00:28:02.540 Thank you, Johnny Logo. Much

00:28:03.860 appreciated. Texas state nickname

00:28:05.800 has officially been changed from the Lone Star State to the Lone

00:28:07.800 Sar State. Please do the needful and address it properly

00:28:09.920 from now on. Good point.

00:28:12.240 And Pat says, I wonder if the

00:28:13.880 recent calls to halt AI research are because

00:28:15.680 they've realized the value of the elite human capital of india is already eclipsed by a single

00:28:19.700 clawed agent so why import them well indeed let's uh let's move on

00:28:24.640 um so i thought we'd talk about um price of money getting a bit expensive yeah i've noticed that

00:28:34.440 everything's really expensive yes but but the i mean what the price of money yes well everything

00:28:40.060 has a has a price right okay yeah bananas a price flat screen tvs a price even money has a price

00:28:45.620 It's just called an interest rate in the case of money.

00:28:49.500 And the Americans, with Governor Walsh,

00:28:54.460 just decided to stick rates up.

00:28:56.600 So I thought we'd dip into that because there's...

00:28:58.320 I noticed this morning the Bank of England decided not to change rates.

00:29:01.460 Yes, that is interesting, actually, because...

00:29:03.620 I mean, I was kind of building up to the difference in this stuff.

00:29:08.220 I mean, essentially, what I'm kind of driving at here,

00:29:10.740 and I thought, well, I don't know if you guys would describe yourselves

00:29:13.300 as economists or not.

00:29:15.620 um but maybe you you guys can ask the questions that the audience might want answered trust me

00:29:21.620 i will excellent good because i think i think the the gist of what's going on here is that the

00:29:26.980 assumptions that the western system has been built on just don't apply anymore right uh and

00:29:32.420 i did a video on this on brokonomics so you're going to get a very surface level dive here on

00:29:37.700 because this is the podcast and it's going to be about 20 minutes or so but we do our deeper dives

00:29:41.860 on the website and um i've done one on the assumptions you can sign up on our website for

00:29:47.140 as little as five pounds a month where you get brokernomics from me which is excellent you get

00:29:52.000 um history stuff from bow and you get lads out which is fun and a whole bunch of other stuff so

00:29:56.580 so check that out tables and whatnot yes all good stuff all very good stuff so so if you want to get

00:30:02.080 into the detail of this which i won't give you here um but but the surface level stuff is when

00:30:07.640 you get into finance you have to do a whole bunch of exams on stuff and they tell you how it works

00:30:12.880 but it's all based on a set of assumptions that are at least 30 or 40 years old when the textbooks

00:30:18.900 were written set of assumptions from the 1980s you say that that yes or late 1990s maybe yes

00:30:25.100 is is is those that are assumptions so for example when i mean before i kind of really

00:30:29.840 got into economics when i just did an economics a level the thinking back then was oh we don't

00:30:35.820 know where inflation comes from it's just very mysterious it's just well maybe i thought like

00:30:41.200 people like milton friedman and hayek and all that were all like it's supply and demand dummies

00:30:46.300 well yeah he did but nobody nobody wanted to listen to him because he was an austrian economist

00:30:51.980 and and and there's broadly very broadly there's there's well there's a number of times but there's

00:30:57.180 two main types the austrians who say that yeah you need to stop spending money all the time

00:31:01.460 and there's the

00:31:03.200 Keynesians

00:31:06.080 who were like

00:31:07.600 oh yeah it's fine just keep spending money

00:31:09.880 forever just make the size of government bigger

00:31:11.940 forever so I remember like

00:31:13.320 when I was doing my A level in economics

00:31:15.960 watching a BBC

00:31:17.540 sort of I think it might even

00:31:19.920 be Newsnight we have a deep dive into this

00:31:21.600 where they tried to answer the question where does

00:31:23.700 inflation come from and

00:31:25.320 they spent about 10 minutes just

00:31:27.760 going to the point. Just a quick thing right I'm not an

00:31:29.760 economist by any stretch of the imagination

00:31:31.940 But is it just that there is more money than goods?

00:31:34.060 Yes.

00:31:36.260 How did I know?

00:31:37.440 Yes.

00:31:38.220 How did I know?

00:31:41.440 I mean, again, I'm not an economist,

00:31:43.800 but I assume that the money is a representation of the value of the goods,

00:31:48.400 and the value is predicated on scarcity.

00:31:50.820 So if there is an excessive amount of money and a scarcity of goods,

00:31:55.680 then each good costs lots of money.

00:31:58.180 And if there's less money in the system and more goods,

00:32:00.640 then the goods cost i mean am i right am i well as far as i'm concerned you're completely right

00:32:06.080 right okay but not an economist but but for years they were able to maintain this by making it so

00:32:11.840 difficult i remember this news night thing where they were like they spent 10 minutes and and i'm

00:32:17.360 not going to say they demystified it they mystified it right they mystified the hell out of it they

00:32:22.160 made it as complicated as possible so they could get to the last line of the presentation which was

00:32:27.600 And we just don't know where inflation comes from.

00:32:30.480 It's a mystery.

00:32:31.720 It's a whole bunch of these factors.

00:32:33.760 But actually, it wasn't really until I got into Austrian economics,

00:32:36.800 where they basically said what you just said,

00:32:38.160 which is because you keep printing money, that's why.

00:32:40.380 Money has to map onto something.

00:32:42.220 Yes.

00:32:42.560 Right, that's the point.

00:32:43.480 It's not separate to the goods and services in the economy.

00:32:47.520 Exactly right.

00:32:49.020 But actually, I think on this...

00:32:50.860 Maybe I should do a degree in economics.

00:32:51.740 It sounds really easy.

00:32:52.560 well it is easy as long as you don't listen to what the economists say okay if you listen to

00:32:59.840 what the economy that you're not going to get anywhere right if you if you just think about

00:33:03.080 it a bit yeah actually becomes it becomes quite straightforward however on this occasion there

00:33:09.140 is it was actually a kind of different effect going on the different effect is um a modern

00:33:14.800 economy does stuff yes and the doing stuff takes oil yes and the oil's going away i mean ukraine

00:33:22.160 keeps blowing up russian refineries and for whatever reason we needed to shut down the

00:33:27.160 straits of hormones vast wealth of money in the system yes the amount of oil in the system

00:33:33.100 had a kind of i guess equilibrium and the oil in the system is going down and therefore the money

00:33:38.820 is not mapping to the oil yes and therefore the oil is becoming more expensive and nobody has

00:33:43.740 any answers as to why that's happening well yes i mean there's there's less oil and that and that

00:33:47.400 run stuff and actually it's not wildly different to what happened with germany like germany was

00:33:52.580 like okay well we're going to get cheap russian energy yeah and we're going to build this massive

00:33:57.300 industrial sector on top of it yeah we've got this nice north stream pipeline and now now we've got

00:34:01.920 this massive industrial sector with like a being held up by this um you know cheap russian energy

00:34:07.300 what we're going to do now is we're going to knock the energy out it was biden that did it wasn't it

00:34:11.100 well yes it was literally biden's administration that blew up the north stream yes well i mean

00:34:15.620 It's not just that, but yeah.

00:34:17.200 Yeah, there was a whole bunch of other pipe loans.

00:34:18.620 I mean, a lot of Berlin was run on these old Soviet-era mainland gas pipes.

00:34:24.040 I'll never forget them laughing in Trump's face when he warned them about this.

00:34:27.080 Oh, so repulsive.

00:34:29.180 Yeah, it's contemptible behaviour.

00:34:31.000 Absolutely contemptible.

00:34:32.180 It's one thing to laugh at the Americans when they're saying don't use Russian energy,

00:34:36.340 is if you continue to hold to that line and you continue to buy Russian energy.

00:34:40.700 but when you suddenly decide okay well now we've got biden and therefore we are going to turn off

00:34:46.060 the russian energy having made sure that we got no alternative that's when it's a problem so if

00:34:50.720 you're going to stick it to the americans you've got to keep sticking it to them and not flip-flop

00:34:54.820 now that biden's in office which is kind of where the uh so anyway what we got to here we go we got

00:35:00.940 we got to this um yeah fed fed has raised rates so it's only it's only a relatively small amount

00:35:05.860 But, I mean, the gist of it basically is, now that there's less energy going into doing stuff, there is not as much stuff.

00:35:14.560 So there's too much money chasing too little stuff, and the Fed knows that it can't print oil.

00:35:22.440 Yes.

00:35:23.140 And it can't supply anything of any real value. 0.67

00:35:27.360 What it can do is it can destroy demand.

00:35:30.480 Oh.

00:35:32.700 Why is destroying demand good?

00:35:35.860 Because then the amount of money matches up with the amount of stuff.

00:35:39.540 All right, but when you say destroyed amount,

00:35:41.520 does that just mean raising the prices to a ridiculous level?

00:35:44.260 Well, you raise the price of money,

00:35:45.540 and that way business projects or additional hiring...

00:35:49.760 Things that would have happened using the oil don't use the oil.

00:35:52.060 Yes, that then doesn't happen.

00:35:55.060 And now it balances again.

00:35:56.660 Because if you don't let it balance,

00:35:58.180 if you let there being too much stuff versus the amount of money,

00:36:03.740 well all sorts of disastrous things could happen like people could get pay rises

00:36:07.660 oh we can't have that yes yeah now you can mitigate that somewhat by just doing

00:36:14.520 immigration but trump's like in texas yes but trump's whole thing is he's kind of not doing

00:36:21.940 immigration yeah i mean for anyone's wondering apparently in 2025 the u.s had a negative

00:36:26.980 immigration rate yes for the first time in like 70 years or something so so this is the big can

00:36:32.840 you even imagine no i've seen what you've done for others this is the big problem with trump's

00:36:39.140 agenda in that he wants to he wants to re-industrialize yeah and the reason why we got

00:36:45.480 money so cheap for so long is because we could always get stuff built in china or india cheaper

00:36:52.020 than doing it here so stuff went abroad but eventually they started to realize well hang on 0.91

00:36:56.140 a minute what what if we go to war with china because at some point we're going to get halfway 0.88

00:37:00.020 through the world with china and then the u.s military is gonna have to ring up china and say 0.98

00:37:03.380 we've run out of missiles to fire at you could you please make us and send us some more stuff 0.89

00:37:07.540 to make missiles through the german quandary with russia yes yes and and and so so i think trump is

00:37:13.780 doing the right thing he's reversing globalization on that he's building up the defense sector he's

00:37:19.220 re-industrializing and he's also doing various bits about oil around the world he's helping

00:37:24.660 the ukrainians target russian oil and hormuz and so on um but that comes with a cost right and

00:37:33.060 basically he's not willing to pay the cost what's the cost well the cost is stuff it gets more

00:37:37.860 expensive because it's more expensive to have americans do it than chinese do it it's true

00:37:42.180 if there's less oil oil is going to cost more so you've got a bit of initiative and i think 0.96

00:37:47.700 i actually think he is doing largely the right stuff but you have to be willing to bear the cost

00:37:53.380 of it and he's not so he's come out and said that he thinks that money should be even cheaper it

00:37:59.540 should be about one percent not even not even four percent i mean it doesn't really seem to

00:38:04.420 matter what you think it should be yes there's not more oil then what does it map to well you

00:38:12.980 could just print it you could just print the money and keep keep keep the price of money down that way

00:38:16.580 i didn't pay that much attention in gcse history but i one one of those images that did stick in my

00:38:22.900 head were germans with barrels of money like yeah wheelbarrows full of money and the the shopkeeper

00:38:30.340 being like i'll just take the wheelbarrow thank you that actually has value yeah um is is that

00:38:35.620 not what would happen it would trend in that direction right yes um one of the cool things

00:38:42.420 about ai is i can now make my own political cartoons and and that's kind of what we've got

00:38:46.820 to go so the best uses actually yeah yes it's very fortunate so i mean this is broadly the

00:38:52.340 the situation is the fed are the people running the um the buffet car on this train here um

00:38:59.380 and and they can see that the food is starting to run out um and the workers and the home buyers

00:39:06.320 and the businesses you know they're they're getting starved here yeah but but what they're

00:39:11.000 not addressing what nobody kind of ends up talking about well a few people do and i do but a lot of

00:39:16.860 people but a lot of the mainstream media doesn't even address the issue but there was there was

00:39:20.760 one actor here who is consuming quite a lot yeah and that's a bit of an issue and the fed have got

00:39:27.500 this difficult problem because they need to keep putting prices up for everybody because

00:39:32.480 one fat cow it just can't stop eating but moreover you can't stop her from eating either

00:39:38.680 she's got control of the money printing and the taxation yeah so if like if the government wasn't 0.81

00:39:45.640 able to print money or tax you maybe this wouldn't be such a problem but they can and you can't stop

00:39:51.780 them yes so so for those who are just listening maybe you've got this as a podcast in your van 0.99

00:39:56.040 or car or something uh i've got a cartoon of um starving people um and there's a massive fat chick

00:40:02.840 with the word government written on her um like five plates and the fed has another concern because 1.00

00:40:08.060 let's say you stop her from eating a bit yeah um because she's a bit diabetic she then collapse 1.00

00:40:14.900 and take like half the people behind her with her right so you you kind of got to you got to slow her

00:40:20.700 down but you can't slow her down that much because if she falls over it's even worse for everybody

00:40:25.600 right kind of the um the the the slight problem that we're in um because and essentially we got

00:40:34.820 a debt trap problem here debt is just too high so so all those assumptions i talked about about

00:40:40.580 how okay if if inflation is going up you just increase the cost of money and that will slow

00:40:45.920 down the economy because it used to be back in i don't know the 70s or 80s if the economy was

00:40:51.200 getting excited um well there's too much borrowing there's too much lending too much business

00:40:57.300 activity you put the price of money up and lots of marginal projects around that around the marginal

00:41:02.440 rate they disappear and you slow things down a bit that is not what's going on today it's all

00:41:09.200 being sucked up because government's got too big right and if you raise interest rates well

00:41:15.620 that pushes up the cost of service in government debt which means that their deficit goes up as

00:41:23.180 well so they need extra money from which they mean they need to borrow more so you've got in

00:41:29.000 the weird situation today where the tech the answer that the textbooks give you which is raise

00:41:33.020 interest rates is actually going to make it worse because government then needs to borrow even more

00:41:39.140 money to refinance the old debt that it had before. What percentage of the national government

00:41:45.120 spending is on just servicing our debt? It's billions, isn't it? In the US, it's 3.3% of GDP

00:41:51.200 is just paying the interest cost, which is quite meaningful. They're borrowing $2 billion a year,

00:41:58.320 which is tough. So the Fed can't stop this situation, but what it can do is shift who

00:42:07.660 has to has to bear it because no more oil is coming through it can't make more oil but it

00:42:12.560 can help decide who gets poorer right and we don't want obviously um you know we basically

00:42:20.640 they're shifting it to workers of course they are yeah workers and businesses businesses are

00:42:25.740 less likely to hire people now and so on um and i mean there is there is an upside to it though

00:42:32.000 oh yeah um so so boomers have a lot of money market funds so they're going to get a pay rise

00:42:37.180 right yes that's brilliant which is important the richest generation in all of human history

00:42:43.280 needs a bit more money i mean that is that is ultimately where a lot of this a lot of the 0.90

00:42:47.760 underlying problem comes from because as i said many times the boomer generation is a very large

00:42:51.500 generation and that's when most of these that's really where government grew right because i

00:42:57.120 thought well okay well we've got this large generation we're all working there's two and a

00:43:00.520 half workers to every uh person who's taking out of the system so there's three and a half workers

00:43:05.680 for every person taking out of the system therefore we can afford all of these generous

00:43:10.780 government programs we can write them into law we can stimulate them um and they didn't have

00:43:16.320 enough children so the next generation is smaller so you went you went from three and a half workers

00:43:20.800 per dependent to two and a half workers per dependent and now all the programs are broke

00:43:25.080 that's why they're having to borrow so much right and and i mean actually another thing that i

00:43:29.900 noticed the other day is again those textbooks that i would have read when i was coming into

00:43:34.860 finance that explain how the world works one of the fundamental assumptions they had about

00:43:41.020 generation sizes which is why because the boomer problem is very obvious back in the clintons and

00:43:47.600 george bush's era and they could have they could have said okay well look we've got this large

00:43:53.080 generation they are going to retire you know they're going to retire at 65 and the following

00:43:57.280 generations are too small let's start cutting programs now but what they did is okay let's

00:44:03.120 max it out to the absolute limit now to win votes and worry about the future when we get to it 0.98

00:44:10.480 and another fact that's interesting about the boomers is is the textbooks will say 0.60

00:44:14.420 that when a generation retires their spending goes down quite significantly

00:44:18.720 that has i don't know about that well i mean that's traditionally how it works you get to

00:44:24.460 retirement age how many how many cruises are the boomers going on these days so that so that was

00:44:29.960 the textbook answer because throughout all of human history you retire your spending drops

00:44:33.840 there was one generation where that didn't happen you know piano really benefited yes

00:44:41.120 so that's interesting as well uh i mean another important factor is um a lot of people say and

00:44:48.220 and i've i bet people have already put it under the comments because they always do when i make

00:44:53.440 a video um about this kind of stuff they just say oh it doesn't matter because you know countries

00:44:57.240 like the us and uk they can print their own currency so debt doesn't matter like always

00:45:02.200 get people having that that comment here's the issue right is all through those decades of cheap

00:45:08.360 money where they wrote the entitlements into law what actually got written into law and it wasn't

00:45:16.120 you get some money medicare medicaid services nhs is you will get a hip you'll get heart bypass

00:45:22.920 you'll get doctors and nurses time you get all of these things and as we have just covered india

00:45:29.080 will not be producing infinite doctors forever well yeah and the fed can't print them

00:45:32.920 so actually the u.s does owe a huge amount of obligations in a currency that it cannot print

00:45:42.120 right which is which is another another big issue um and and another one which i think is fun which

00:45:49.680 i've been thinking about recently and i'll cover more in my my broconomics when i film it this

00:45:53.200 afternoon um is this it's not just government that is hoovering up the capital now yeah and

00:46:01.700 there's a kind of important distinction here because right the hyper so for again those

00:46:06.180 listening i've now added a uh an ai data center uh to this cartoon chad ai data center yes um

00:46:14.600 so the government wants to consume about two trillion a year that's its deficit

00:46:19.060 it yeah and the government can't afford what we're currently paying at five percent right things are

00:46:25.400 going badly wrong at five percent wash has issues at five percent ideally it needs to be paying no

00:46:31.960 more than four percent ideally less two or even zero if they can right the data centers however

00:46:38.380 they can afford eight percent

00:46:40.080 you have to explain what that means to me right okay so let's say you're you're you're um

00:46:47.080 Microsoft or Google or

00:46:48.960 Anthropic or OpenAI or whatever

00:46:51.300 it is. I told you I'd be the ignorant 0.97

00:46:53.200 audience on this one. No, it's useful. 0.95

00:46:55.480 You're asking the questions the audience

00:46:57.240 wants to know the answer. So if you're

00:46:59.300 one of the hyperscalers and you're

00:47:01.220 planning a data center, you're probably, I mean

00:47:03.240 the returns that they're getting at the moment

00:47:05.120 are fantastic. I mean, well north

00:47:07.200 of 20%. But let's say they

00:47:09.080 conclude, okay, I can probably get 22%

00:47:11.660 return

00:47:13.380 on my money from this

00:47:15.220 new data center.

00:47:17.080 Let's halve it and let's say it's 11.

00:47:19.040 So I'll do my business case on 11% return.

00:47:22.360 What am I prepared to borrow money at

00:47:24.160 in order to make 11%?

00:47:26.440 Well, you're obviously going to pay 2, 4, 5, 6%.

00:47:29.560 Yeah, I mean, 8% doesn't even sound that unreasonable

00:47:31.760 if I make a 3% guarantee.

00:47:33.120 Probably want a bit of a margin.

00:47:34.780 But you will pay 8%, right?

00:47:37.560 Sure.

00:47:38.540 Especially if it was at 20%.

00:47:40.060 Yes.

00:47:41.080 I'd be very happy with that.

00:47:42.420 Yes.

00:47:43.380 So hyperscale is going to afford 8%. 0.96

00:47:46.400 government can't now let me give you the numbers on on the two government needs to consume about 0.77

00:47:53.940 two trillion a year next year the hyperscale is probably going to consume one trillion

00:47:58.520 so it's meaningful the amount of capital that they're consuming is meaningful

00:48:03.840 and again i appreciate you're not economists but you could probably figure this one out

00:48:08.960 what happens to the price of money when somebody who wants to consume a trillion of it is willing

00:48:16.060 to pay 8%.

00:48:17.700 I assume it goes up.

00:48:19.880 Yeah, it trends towards 8%.

00:48:21.780 Yeah.

00:48:23.280 So we've got a situation now

00:48:25.100 where the government

00:48:26.060 is in a bit of a tricky spot.

00:48:28.580 So money becomes more expensive

00:48:29.880 and everyone else

00:48:30.680 has bigger problems.

00:48:33.200 Well, I mean,

00:48:33.680 there is an even further

00:48:35.420 problem to this, right?

00:48:38.340 I'm just looking at the poor workers,

00:48:39.560 homebuyers and businesses

00:48:40.340 thinking,

00:48:41.240 yeah, that's me.

00:48:42.500 Yes.

00:48:43.400 Oh, yeah, yeah,

00:48:43.920 you don't get much.

00:48:44.560 I know, I know.

00:48:45.140 I'm in that category there.

00:48:46.600 Yeah, you're the business guy there.

00:48:48.020 I'm literally all three of those people.

00:48:50.020 I mean, there is another issue here, right?

00:48:52.380 What if AI actually works?

00:48:55.660 Well, you don't need those guys down there.

00:48:58.440 And the only reason that the government's deficit is only $2 trillion

00:49:02.260 is because all those people behind are paying taxes.

00:49:06.020 So if AI works, those guys don't have jobs,

00:49:10.100 and they don't pay the $4 trillion in taxes to the government,

00:49:13.160 and the deficit, the amount it needs to consume

00:49:16.020 is no longer $2 trillion, it's $6 trillion

00:49:19.200 because their revenues go away.

00:49:21.420 Well, I mean, on the plus side, at least,

00:49:22.720 this is a problem that isn't going to last very long.

00:49:25.300 How do you mean?

00:49:26.240 Well, there's going to be a revolution.

00:49:27.840 Oh, yes.

00:49:29.120 Yes.

00:49:29.860 There's going to be a very angry mob of very hungry people

00:49:32.480 who are dispossessed by the government and AI

00:49:34.740 and they'll tear it all down.

00:49:37.980 If everything goes, unless nothing radically changes course,

00:49:42.060 yes there is going to be a bit of an issue yes i will do that um and the other thing i should

00:49:47.200 mention is okay so the the government is um you know the u.s government is is okay raising rates

00:49:53.480 into an oil rate shock this is a quite a good comment i'll just i'll just play this it's only

00:49:58.180 a minute but he does make the point well here's the thing the two best chairmen that we've had

00:50:04.580 at the fed over the last some decades are alan greenspan and ben bernanke what just to share in

00:50:10.240 common is that you never raise rates at the fed into the teeth of an energy price shock full stop

00:50:19.180 in 1991 when iraq invaded kuwait oil prices skyrocketed greenspan did not raise rates

00:50:27.920 when bernanke was 2006 7 and iran was doing its mischief again oil prices spiked bernanke did not

00:50:37.420 Now, why? OK, now I want to screaming about the 70s, though, when they did it.

00:50:41.760 Yeah. But here's the point. It's like right now, oil prices are up.

00:50:45.620 Diesel prices are up. OK, everybody watching this show, what are they going to do?

00:50:49.960 They're going to pay more for that. What does that mean?

00:50:52.600 There's going to be less in their pockets to do what? Spend on the economy.

00:50:56.920 So effectively, an oil price shock does the work that a Fed rate hike would otherwise do.

00:51:04.120 so you don't need it as well it's like a double tap on the economy so the concern is we we might

00:51:12.660 be repeating the mistakes of the 1970s which is raising rates into an oil shock and you get the

00:51:19.680 inflation because because the fed cannot print oil so you get you get the oil shock so you get

00:51:25.620 the um stagnation and you get the inflation anyway right so you get you get the stagflation

00:51:31.800 right

00:51:33.020 which is not a deal

00:51:34.540 finally

00:51:35.680 I'll just wrap up

00:51:37.300 with a prediction

00:51:38.440 diesel

00:51:41.080 in the US

00:51:41.920 is now running about

00:51:42.660 six dollars a gallon

00:51:43.700 which apparently

00:51:44.800 for the Americans

00:51:45.340 is quite a lot

00:51:46.240 the highest it's ever been

00:51:47.600 yes

00:51:48.360 I think I'm pretty certain it is

00:51:49.880 what is it over here?

00:51:53.080 I don't know

00:51:53.940 I drive a Tesla

00:51:54.920 yeah I drive petrol

00:51:56.500 you're a car guy

00:51:59.400 aren't you?

00:51:59.880 no I don't deal with diesel

00:52:01.100 i'm a car guy i'll keep an eye on the comments just in case but but diesel is 60 of everything

00:52:08.360 goes off the forecourt and diesel is fairly inelastic because it's it's vans it's trucks

00:52:14.600 it's all that kind of stuff and it can't really move the the other issue that the u.s has got

00:52:21.280 and might be coming down the track is an election coming up now america actually produces enough

00:52:26.920 diesel for its own needs but it's got a free market economy and so the people who are producing

00:52:34.540 the diesel are exporting quite a bit of it to europe to japan to other places and that's why

00:52:42.300 the prices is rising globally and not just everywhere that is in america right so the

00:52:48.900 pressure is going to come on trump especially as we head into the midterms why don't you ban the

00:52:54.060 export or at least you know there's a whole bunch of things you can do softer restrictions that make

00:52:58.780 it make it more difficult to export diesel but he could um through some mechanism or another

00:53:07.100 limit or even stop the export of diesel from america which would mean that american prices

00:53:13.420 would go down ahead of the midterms everybody everybody else's default cost would go through

00:53:18.700 the roof because russia has already been severely limited and their refineries keep getting their

00:53:25.060 loan up and the strait of hormuz is of course closed the the the reason why he hasn't done

00:53:30.980 that so far is because if you massively push up the cost of diesel everywhere else in the world

00:53:36.320 well america imports quite a lot of stuff so they'll actually get it back they actually get

00:53:41.600 the cost back again through higher um you know it'd be different if they were a little island

00:53:46.160 economy and they they produced everything domestically but they don't they they in

00:53:49.840 they've exported a huge amount of production of a huge range of things so you'll just end up getting

00:53:55.080 lower diesel prices at the pump which will look good for five minutes and then all your

00:53:59.140 import costs will go back up again and also it would really piss off all of his allies because

00:54:05.080 they'd be like okay well hang on you're currently running two wars one proxy war against russia and 0.57

00:54:10.620 you're helping the ukrainian you're supplying targeting information to ukrainians to blow up

00:54:14.200 russian energy of fineries and you've shut down the strait of hormuz and you're giving us a real

00:54:20.380 problem with massive diesel costs which you could supply us with but you won't so it'll blow up

00:54:25.720 alliances and increases import costs that's going to screw everyone yes and and the reason why it

00:54:31.260 hasn't happened yet is because trump's own people are saying well look it shifts the problem it

00:54:36.260 doesn't solve it you we just we just get it back in import inflation so therefore it's not worth

00:54:40.000 doing it however it's not impossible that a few weeks before the midterms he's like yeah i've got

00:54:45.120 to win this so our pocket a month or two of feel good by getting the diesel prices down and then

00:54:52.740 it will hit after the midterm and and that political calculation is basically how we got

00:54:57.380 into all of this situation because that has been that political calculation has been running for

00:55:00.980 30 40 years now right probably why he's offered to pay everyone five grand isn't it well that as

00:55:07.780 well i'll do that rather than do this yes maybe we won't see yeah um these all changing the

00:55:15.040 absolute bottom line on all of this stuff is the debt is too big and the solution to high debt is

00:55:22.500 very high inflation it's going to come sooner or later one way or another but every politician

00:55:30.400 wants to make sure that it's the next guy kicking the can down the road yeah i love democracy so

00:55:36.240 much yes i hope that was helpful yeah well there's definitely something definitely made me depressed

00:55:43.020 about the future sigil stone says trump said communities without data centers will be destitute

00:55:47.840 that was a threat you will be a serve to a data center or you'll have everything taken from you

00:55:51.920 diesel is now above six dollars yeah i mean a lot of the narrative on data centers is just wrong

00:55:57.300 because i mean the early data centers were energy net consumers but now they come with their own

00:56:01.760 energy supply and actually make energy in the surrounding region cheaper not more expensive

00:56:05.360 right okay um but what about the water supply don't they destroy water no i'm joking no they 1.00

00:56:10.600 recycle the water condenser processes um jm denton says how fat would the government lady be if we 0.96

00:56:16.820 remove the fraud and the worst part about it is still hugely fat well you should be if you move

00:56:23.780 the fraud i mean if you move the deficit should be should be uh two-thirds of a current size

00:56:27.980 what the fraud is i don't know but it's probably not that significant that's the problem um sigil

00:56:33.800 stone says we need to boil keynesians and until they become austrians start with the bankers and

00:56:37.940 keep going i'm not going to say the rest of that dan in your opinion how is the move to digital

00:56:43.140 money affecting inflation well it depends what you mean by digital money if you mean if you mean

00:56:47.760 bitcoin it's a whole hard money standard which gives you a different set of problems but it

00:56:51.240 solves these ones if it's just stable coins where they're based on u.s treasuries and so it doesn't

00:56:55.720 really change the mechanism that much okay well i don't know whether that's worth exploring later

00:57:01.300 on let's let's move on yes see i had good news dan you brought bad news yes this better be good

00:57:09.340 news it's it's not good news okay i i tried guys yeah i've been doing some thinking lately about

00:57:15.420 uh the era that we're moving into and obviously it's an era of identity and kind of who we are

00:57:22.200 as a people as a nation um you know whether that be the west or more specifically britain

00:57:29.540 england uh and i've sort of come to the conclusion i mean you know we could say it's managerialism

00:57:37.360 manifest but i'm going to phrase this or frame this as like a post-shame society which is

00:57:46.120 is i guess a byproduct of not having an identity and a byproduct of managerialism manifest a

00:57:54.480 byproduct of globalism and the needs to sort of facilitate all of that i think it's also a

00:58:00.200 byproduct of hyper individualism because i mean one thing that the boomers had that we don't that

00:58:05.360 i i think i'm starting to think is actually to their credit is they're very concerned about what

00:58:09.080 the neighbors thought yeah well identity and community sense of self who you are but i'm

00:58:14.640 personally not bothered about what my neighbors think and this is actually something that i feel 0.93

00:58:19.740 we have lost yes so this is one of the things the boomers do have that is my neighbors will all

00:58:25.180 summer long will make very coded cutting remarks about the length of my front garden grass yeah 0.88

00:58:30.080 and it doesn't what it falls like a water off a duck's back yes yeah well i'm going to teach you

00:58:34.420 that you need to get some shame yes basically because we're in a post shame it's all part and

00:58:38.540 parts of the same thing really how i view it anyway so i just think of the bonds of society

00:58:43.160 yeah yeah um community everything basically it all comes down to who you are as a people

00:58:49.680 effectively and we've moved way off the trajectory that we should be on uh philosophically metaphysically

00:58:57.100 um it's not where we should be um and i thought this really this perfectly encapsulated it to me

00:59:03.520 like this is wild so i'm just going to let this play um and you can all grit your teeth and be

00:59:09.180 like what the hell were the horrible abuse and grooming gangs absolutely are there families

00:59:14.760 living in birmingham who i think are creating bad issues for their own families and society

00:59:21.740 yes do i think that this is a big problem for britain no okay this is a manageable

00:59:31.760 problem, including some very unpleasant things where the police did not act correctly. People

00:59:39.100 behaved in an evil fashion and they need to be prosecuted. But what are the real problems facing

00:59:44.300 Britain? Not this. And the thing that winds me up is that the culture warriors talk as though

00:59:50.040 the fundamental problem facing Britain is some. It's an irrelevant problem in the greater scheme

00:59:54.580 of things. The fundamental problems of Britain are our economy is not growing fast enough.

00:59:58.720 we have no vision of the global order we don't have a proper ai and technology policy we don't

01:00:05.120 know what to do about innovation our public services okay so i i kind of understand where

01:00:10.660 rory's coming from there because what he's saying is the the grooming gangs are not necessarily

01:00:14.840 structural problem right the the grooming gangs don't change the price of oil for example right

01:00:21.720 i think what he's saying is that grooming gangs don't affect people that he goes to dinner parties

01:00:26.760 with that is true but he is speaking systemically these moral failings which you can do when it's

01:00:33.800 not affecting you yes but also he is right in a way that it's not a structural issue right it's

01:00:40.580 a moral issue that's separate to that yeah this is now i would suggest it's a massively important

01:00:45.360 moral issue but for rory who doesn't care about morality apparently he doesn't care about the

01:00:51.260 moral state of the country doesn't care about what has actually happened why it keeps happening and

01:00:56.000 happens this day it's just a non-issue because he's just concerned about the mechanics of the

01:01:02.080 economy of oil production of energy production all this sort of thing so that there's a there's

01:01:06.960 a few things here one how rotten are political elites where they feel so brazen and empowered

01:01:14.800 enough to sit there and say that yeah but which one was it who uh was was it gideon george osborne

01:01:21.680 who was like he was on his podcast politically expedient so he didn't do it that's right

01:01:26.240 they're balls yes yeah and so exactly it and and how i mean it speaks to like such a moral

01:01:33.280 rot and decay yeah that your political elites i mean michael gogh for instance he was a massive 0.85

01:01:38.560 mover in in the tory yeah disgraceful individual yes yes still is and they feel that on a on a

01:01:45.220 societal level they can sit there publicly to the two million people and say grooming gangs were not

01:01:53.620 a big deal now you know we can analyze of course grooming gangs are a big deal etc we can we can

01:01:57.980 talk about that but just just that just that there that you can say something so morally

01:02:03.560 reprehensible and feel empowered enough to say that speaks to such a decay and rot on a societal

01:02:11.860 level well and that is crazy what does what does decay and rot do because i have not been personally

01:02:19.600 affected by the grooming gangs but it's like the broken window theory i understand if tens of

01:02:24.800 thousands of girls in town centers can be raped and it can be covered up in the rest of it that

01:02:30.560 hasn't affected my family or anyone i know but if a society allows that then it will allow the next 0.94

01:02:36.780 thing and the next thing and the next thing and then it is my daughters then it is my wife 1.00

01:02:40.440 rot destroys the infrastructure that keeps everything going yes which then feeds into 0.72

01:02:46.560 the second and third order consequences destroying society which is what he's more focused on but

01:02:52.840 this is the point of managerialism okay and getting away from a nation being a people and

01:02:58.380 an identity is that you don't focus on the the interpersonal elements which build a society which

01:03:06.020 created us as you know a world leader a world power it's like no no we're here now we just

01:03:13.380 need to manage and tinker and that's all he's focused on and again post shame how how on earth

01:03:20.560 can you be so brazen to say that to two million people to be fair i don't think staggering i don't

01:03:27.300 think when we were a world power we're being led by people who look like an old lady with aids

01:03:32.240 but he looks like 0.99

01:03:34.460 what's his name

01:03:35.260 Elliot Page

01:03:36.360 after being run through AI

01:03:39.440 and said make Elliot

01:03:40.540 30 years older

01:03:41.500 that's what Rory Stewart

01:03:42.540 looks like

01:03:43.100 so therein lies

01:03:44.860 another element

01:03:45.640 of post-shame

01:03:46.440 a society

01:03:47.940 that believes in itself

01:03:49.500 would not be led

01:03:51.220 by someone like that

01:03:53.280 yeah

01:03:53.940 I mean Rory Stewart

01:03:55.180 has been in government

01:03:56.060 for anyone who's just wondering

01:03:57.040 yeah

01:03:58.160 he ran for leader

01:03:58.920 of the Conservative Party

01:03:59.740 or Michael Gove

01:04:01.120 these are two individuals

01:04:02.060 if a society was able to flex its moral superiority on itself and regulate itself

01:04:08.920 because that's like i've always been a big believer that societies auto regulate right

01:04:13.680 so we grew up kids weren't complete tearaways right because you knew that no matter where you

01:04:21.120 were in your town there'll be someone that knows who you are and i tell you what they'll tell you

01:04:25.220 off they'll give you a clip around the ear and they may even go to your house and have a word

01:04:29.520 your parents right and that we can't have that brilliant great yeah perfect that is on a on a

01:04:36.160 sort of a macro level society regulating itself and then that sort of you know breeds upwards

01:04:41.680 up on a micro level and then it goes up to them yeah yeah sorry yeah sorry and so actually somebody

01:04:46.640 just made a good point in the comment captain seaman said we turned our justice system into a

01:04:51.280 legal system that's that's a good way of framing it yes yeah again it's all part and parcel of this

01:04:56.240 post-shame you we talk about eras we talk about where we are as societies and normally they're

01:05:01.200 only in retrospect you know you look back on a society and go well that was the era of this

01:05:05.680 you know we think about like the industrial era we think about you know i mean all these things

01:05:09.280 well seldom do we look at where we're at at the moment as a as a point for how to address

01:05:14.960 our philosophical quandary how do we address where we're at on a political level well we're

01:05:20.240 in post-shame britain and it goes all the way through it right i mean this for instance i mean

01:05:25.040 mean i just saw this today and even this even this actually applies to what i'm suggesting so

01:05:30.340 we'll just play this it's mad one of the first things andy burnham did was to scrap the digital

01:05:35.060 id scheme to spend the money instead in cutting vat on people's electricity bills the morning

01:05:39.880 after he moved into number 10 you tweeted quote good news that vat will be cut on electricity

01:05:45.960 bills it's a simple way for families to save a few quid and to mechanically help to keep inflation

01:05:50.960 that little bit lower but the digital id program was unfunded the government will have to set out

01:05:56.920 how it will pay for its new policies at the budget now that's the sort of tweet you would

01:06:01.820 normally write about the opposition or to the opposition leader you were writing it about your

01:06:06.840 new boss the morning she cannot fathom that someone would have a bit of uh integrity she

01:06:16.380 like look at her face she actually i'll play a little bit more she can't fathom that someone

01:06:20.760 would have integrity for their own party to criticize maybe she's just shocked that a labor

01:06:26.160 mp had something useful to say i'll play it a little bit further and and you'll be

01:06:34.420 shocking how what her face and mannerism moved into number 10 why well two things firstly as a

01:06:40.460 backbench member of parliament irrespective of what party you're in it's your job to hold the

01:06:44.000 government to account the executive that's how the system literally the morning after he's moved in

01:06:47.640 well that was to cause him a headache the key difference oh no that's insane isn't it is andy

01:06:53.220 burham's having a headache you're one you're a journalist it's true i mean i don't want to give

01:06:57.540 the labour yeah yeah props here but you have to yeah this is about integrity about who you are

01:07:03.180 this is bbc is it this is the bbc oh okay i don't know the bbc people but um but but yeah she's just

01:07:09.940 she finds it absolutely incredulous that you you're not supporting a labor government why are

01:07:14.420 you not in lockstep what's wrong with you you've got integrity what yes isn't that remarkable though

01:07:20.240 the kind of um the kind of laborite sort of blairite people like victoria derbyshire

01:07:27.020 andy burnham that sort of cabal that's a cadre of people that is genuinely impressive that they

01:07:32.800 live in such a delusional world right just like okay but you've you've said something that's

01:07:36.700 factually accurate and necessarily true that needs to be addressed and she's more concernable

01:07:42.920 don't you think about andy burnham having a headache about this yeah isn't this a pain for

01:07:46.340 andy burnham it's like uh there's reality outside of the social scale that you're thinking of we have

01:07:51.980 to account for that and he's now on the defensive about pointing out something true something like

01:07:57.920 if you were andy burnham you'd be like great point thanks i didn't think of that i'll now

01:08:01.720 have to come up with a plan the october budget is going to suck for everyone by the way yeah

01:08:05.440 but you'd have to say something but instead Andy Burnham's just like well I can just ignore it

01:08:08.560 can't I I have wishful thinking is that not good enough and this guy's response I mean is weak

01:08:12.480 anyway it should have just been like that was true though wasn't it yeah yeah yeah I said I

01:08:16.740 said a truth that's it like that should have been the response but just that alone I saw that today

01:08:21.520 and I thought wow even that yeah like why is he on the defensive yeah again it's it's it's just

01:08:28.300 complete bankruptcy an even madder thing Nate is that there was a time when the journalist would

01:08:34.860 have been asking the tough questions i know i mean we're many decades removed from journalists

01:08:40.140 asking because all they do now is read out government statements well this is exactly the

01:08:45.680 the journalists this this was blair gave them what they wanted and it's to become essentially

01:08:51.100 the court stenographers right yes imagine how easy her job is now yes she's got a team of like 30

01:08:56.660 people who just find out what the government have said and write it down for her and that's it yes

01:09:01.440 morally as far as she is concerned all she all she needs to do is do whatever it takes to reinforce

01:09:06.720 the blairite order yes right that's what good is to these people so yeah it's wild when you start

01:09:13.440 to notice it yes like i know it's like the great grand noticing but to me it was a real epiphany i

01:09:18.880 was like well this is where we're at and i and i can just see it everywhere it's absolutely

01:09:23.360 everywhere because you've got to have no shame no integrity to to to say these kind of things it's

01:09:28.640 wild and the idea of shame and integrity yes is as is as you're saying just alien to her she doesn't

01:09:34.360 get the concept at all yeah massively she would have at one point though this is the thing the

01:09:38.240 moral standards are so inverted like if if she was caught on a secret recording in the pub saying 1.00

01:09:46.660 look i just can't believe we're allowing this many somalians in they're just all on welfare what are 1.00

01:09:50.760 we doing and that went public should be deeply ashamed oh yeah that would be shameful but it's 1.00

01:09:57.660 just a complete moral inversion and so then there's this uh this is a prime example so for

01:10:04.060 those just listening this was some work by the great british pack and it just said the government

01:10:08.300 has confirmed it around 200 000 families in britain received more than 39 000 pound in state

01:10:15.360 support last year more than the median full-time worker earns in wages now look i'm not going to

01:10:22.480 sort of denigrate welfare okay i think a society that has uh that is actually you know that

01:10:28.840 experiences shame and is not post-shame um should provide welfare that's eight billion pounds a year

01:10:34.560 yeah and also it's the equivalent of a pre-tax income of like 70 grand a year yeah yeah there

01:10:40.440 was actually a clip of you and me talking one of our political chats where i went through how much

01:10:44.200 money you could and that's been circulating again recently on twitter it's wild um and at the time

01:10:49.080 i couldn't believe it was true but it actually is you actually can get the equivalent of a 70

01:10:54.680 grand a year job just from the state for doing nothing yeah but so so point is i'm losing the

01:11:01.560 last bit of hope i had go on a society that functions should provide some welfare right

01:11:06.660 but welfare should be done privately should be a lifeboat should be done privately through charity

01:11:10.980 but yeah sure but if you're going i agree with you right obviously we don't want to be like

01:11:16.520 sorry tiny tim you're just on your own now you know obviously you don't do that but but when you

01:11:22.000 when you have it pegged to what the government thinks of as entitlements and you say right well

01:11:26.720 these are infinite entitlements for anyone and also we're going to import millions of people

01:11:30.320 each year anyway like it becomes a ridiculous yeah of course the thing yeah if it was done

01:11:35.700 charitably at least the people would um have a way of saying well actually i think you've got enough

01:11:41.600 right no you don't get 70 grand a year out of us you know i don't know there's a few things here

01:11:46.940 right so for starters back in like the 90s this this realistically just kind of wasn't a thing

01:11:54.100 society oh it's shameful was able it's shameful to be on benefits exactly but we are post shame

01:12:00.060 now yes but we were in an era at that point where society was able to flex its morality on on on

01:12:08.280 another and that's why on the bbc on channel 4 itv whatever it was there's all these programs

01:12:13.960 like benefit britain scroungers this scroungers that like all these kind of things and as as

01:12:19.800 we've entered into this sort of managerialist era globalist era which argument could be can be made

01:12:25.800 that we were already in that but point is the morality of your fellow man of the sort of

01:12:31.640 identity of a people was still quite strong it wasn't hugely strong but there was a still an

01:12:36.120 element there where it was embarrassing it was shameful because you were taking from your fellow 1.00

01:12:41.560 man but when you become an economic hub for third worlders just sort of come on in there is no uh 1.00

01:12:48.520 sense of morality to your neighbor to who you know where this money's coming from it's gibbs it's 1.00

01:12:55.240 free cash who cares where it's coming from it's free i might as well take it but this permeates

01:13:00.280 unfortunately just this quick thing that especially when you perceive it to be coming from a different

01:13:04.840 group right yes i mean back when back in the 90s when britain was homogenous well obviously i don't

01:13:12.680 want to hurt the other my countrymen so obviously it makes sense for me to be shamed for extracting 0.98

01:13:19.120 and due wealth from them yeah but if if these are just foreign communities and they don't care at 0.97

01:13:23.940 all i mean we don't have an ethnic breakdown of who these 200 000 families are no but it is

01:13:29.160 important to note that this will still be now your fellow countrymen because this attitude this

01:13:34.640 morality has unfortunately bled through much the same way rory stewart has it permeates on a

01:13:40.600 societal level and it's the complete degradation of a nation of a people your identity it's

01:13:47.500 completely uh dissolving and diluting around you and so that again was just another thing

01:13:54.040 just spotted it and you're like wow that's mad um post shame like you were shamed for it it was

01:13:59.740 awful this the shame is like the sinews of society it's what you you know why you have a claim to

01:14:06.740 tell someone what their their behavior is and if we're in this period of hyper individualism the

01:14:11.780 atomized society where actually there is no thing that we would call a society that bonds us together

01:14:16.880 then yes shame is a an archaic concept why should i be ashamed i mean do you have bonnie blue in this

01:14:22.600 no i should have to be in previous series imagine go back a hundred years yeah and there was a woman

01:14:28.420 like bonnie blue in your grandmother's village they would lynch her right they i mean this is 1.00

01:14:33.680 literally in brave new world where the the woman from modernity goes to the savage village and she

01:14:39.240 starts sleeping with all the men in the savage village and the women just come out and start

01:14:42.480 clubbing her it's like how dare you yeah absolutely best you know like they would not tolerate it

01:14:48.340 you know but here we are now and bonnie blue is everywhere uh and then again permeates right 0.95

01:14:53.500 the way through to every single uh station of office um politically so you've got the prime

01:14:59.520 minister here uh reacting to that uh piddington village and basically just saying everywhere 0.68

01:15:04.860 deserves their fair share of rapey murdering migrants that they've already acknowledged

01:15:09.800 yeah well we've given them please don't rape pamphlet but with no shame why would you do that 0.98

01:15:14.580 if they weren't there's no sense of contrition there's no shame they don't care and so you've

01:15:18.860 Well I understand the strength of feeling and that's something that is across the country

01:15:25.600 but the only thing to do is to get the numbers down, the number of crossings down and they are

01:15:32.780 significantly down, they are now at a seven year low. We also made a commitment to people to end

01:15:38.600 the use of hotels to house refugees and asylum seekers and that commitment needs to be honoured 1.00

01:15:44.280 And I think the vast majority of people say,

01:15:46.040 yeah, that really does need to need to proceed.

01:15:49.120 So this involves difficult, difficult decisions.

01:15:52.880 It's about fairness across across the country,

01:15:56.420 not saying that only one part of the country or one

01:16:00.520 group of community should should do all of the all of the work.

01:16:04.140 It's difficult.

01:16:05.140 And obviously, I will look at the issues being raised by the community

01:16:08.520 and in the referendum.

01:16:10.480 But we have to ensure that we have a fair plan

01:16:14.280 you acknowledge that they're rapists and murderers

01:16:17.520 but it has to be fair well there has to be a fair amount of rapists and murderers put into 0.86

01:16:23.180 your community shame yeah that that is a shameless statement isn't it as a man

01:16:28.280 that simply one feels emboldened to say it again on a societal level like that 100 years ago would

01:16:35.940 have been revolutionary talk oh yeah i mean look at his expression he looks nervous right he realizes 0.94

01:16:40.980 that what he's saying here is not going to be popular oh no no there is a fair amount of foreign

01:16:45.900 rapists that i need to put in your community and we all have to take our fair share of foreign 0.98

01:16:49.440 rapists and i've conceded that they're foreign rapists because i gave them the please don't 0.96

01:16:53.600 rape someone pamphlet so it like we didn't do that with the ukrainian women and children 0.98

01:16:58.280 weirdly enough you know like the the actual asylum seekers we took were actually ukrainian

01:17:04.560 women and children who are actually coming from a war zone didn't make any don't rape pamphlets

01:17:09.360 for them and and such a milly-mouthed um response to this because it basically people were saying 0.98

01:17:15.120 we don't want all these raping immigrants in our country being put up in hotels and the only bit 0.98

01:17:23.080 the government great you can have them in your villages instead yeah the only bit the government 1.00

01:17:26.460 was in your hotel was in hotels yeah it's a society that has a loss its identity its sense

01:17:31.780 of self because ordinarily what would happen you know a society that's able to flex its moral

01:17:36.700 it's morality uh you know around one another is you would uh get a gathering you'd get a band of

01:17:44.380 people and they'd be like wow i know this is unacceptable like we're not doing this

01:17:47.420 right this would have happened decades ago by by this point but yeah we're not there i think it was

01:17:53.200 1983 was the last time a government minister resigned because of something that happened on

01:17:58.340 their department well that's the other thing right disgrace people resigning there's so many mps

01:18:03.160 like in disgrace

01:18:04.220 they just don't resign

01:18:05.020 they don't leave

01:18:06.040 they don't leave office

01:18:06.800 what would David Lammy

01:18:07.100 have to do to resign

01:18:08.800 no shame right

01:18:10.100 there's no shame

01:18:10.920 and then this

01:18:12.680 again just another part of it

01:18:13.900 right

01:18:14.100 Chancellor

01:18:14.620 John Healy's team

01:18:16.460 claims

01:18:16.840 that he and Andy Burnham

01:18:18.440 didn't realise

01:18:19.060 how bad Britain's

01:18:19.920 fiscal position was

01:18:21.020 before they got inside

01:18:22.160 the treasury right

01:18:22.980 because he'd only been

01:18:24.160 a cabinet member

01:18:24.880 yeah September 15th

01:18:26.540 Rachel Reeves

01:18:27.120 hadn't told him

01:18:27.780 but yeah we'll send

01:18:28.840 655 million pound

01:18:31.260 to Angola 0.54

01:18:33.160 no shame mental there is no shame we're in a pot that that is shameful right if that was your house 0.58

01:18:40.520 okay and you're in debt and you go mate you know sorry tiny tim your your son tiny tim you're like

01:18:47.060 look we don't have that much money i am giving some money to um next door next door though they'd

01:18:52.560 be like what yeah why what are you doing what is going but that's the same thing you know we we can

01:18:58.440 look at you know society on a whole you can look at it down on a village level a house level it's

01:19:03.140 same kind of principle at the end of the day it's a people it's a group and the fact that your

01:19:07.940 leaders can look at you bare face and go look there's no money whilst giving your money away

01:19:15.780 it's completely shameless no no it's worse than there's no money it's there's a debt and we need

01:19:20.980 to tax you more we're borrowing money and we're still giving these foreigners 600 more than half

01:19:27.620 a billion oh that's not that's only just the tip of the iceberg of course it's radically but the

01:19:33.660 reason why i say that is that's what they're saying to your face is that well there's no money

01:19:36.520 the harsh truths of of how we need to move forward as a society and they are harsh truths they're

01:19:41.980 very very hard they're not they're not great things to realize you know things have to get

01:19:47.280 really tough for things to be fixed you won't hear that from from your leaders so they'll just do this

01:19:52.660 mealy mouth nonsense of well we don't have that much money actually you know there's not it's

01:19:57.500 Pretty bad fiscal position, actually,

01:19:59.720 and then they still send money abroad.

01:20:01.280 It's like, yeah, this is insane. 1.00

01:20:01.640 Stop giving money to foreigners, for God's sake. 0.86

01:20:04.360 But again, it comes from post-shame. 0.98

01:20:07.220 That's where we're at.

01:20:09.340 I just think it's awful.

01:20:10.240 I think it's absolutely awful.

01:20:11.700 Just a quick thing, that is remarkable, actually,

01:20:13.360 because whenever the subject of not giving money to foreigners comes up,

01:20:17.300 the soft-left Labour Party do act as if that's the shameful thing.

01:20:20.840 So, oh, no, it'd be shameful if we didn't give 0.65

01:20:22.800 all of these Bermalian immigrants taxpayer money. 1.00

01:20:25.640 It'd be shameful if we didn't give... 1.00

01:20:26.940 that's what they find shameful yeah yeah yeah yeah no no you're completely right but i guess

01:20:32.780 that speaks to again still a people that have forgotten themselves right is that you are merely

01:20:37.020 just an economic hub for the world rather than a nation which is a people and an identity because

01:20:42.680 if you were coming from that perspective the shame wouldn't be that no foreigner is getting

01:20:46.960 your money it would be that you're not getting your money yeah it's that your money is i mean

01:20:51.460 the shameful thing is that your money is going abroad i mean that's mad i mean that's insane

01:20:54.700 Politicians should treat tax rises as serious moral failings.

01:21:00.540 Oh, I had to raise tax on the country.

01:21:02.540 Jesus, I'm ashamed of that.

01:21:04.300 And you come out and be like, listen, it's because of the war in Russia

01:21:07.500 or the war here in Iran or whatever.

01:21:09.640 This isn't because of a failing on our part.

01:21:12.220 Honestly, we swear to God, they should come out groveling almost.

01:21:15.600 They're probably saying, look, we're really sorry,

01:21:17.580 but we have to put the tax up by 2% or something.

01:21:19.480 That should be a shameful thing.

01:21:21.320 And I'm sure in previous eras it bloody was.

01:21:23.180 yeah um and i thought this this actually perfectly encapsulates it um as a broader

01:21:30.500 metaphysical point right so king's troop royal horse artillery king's troop rha are covering

01:21:38.740 the lifeguard this fortnight and obviously it's a bunch of women soldiers and just people from

01:21:43.840 it's just foreigners basically it's just dei so just just watch this

01:21:47.020 now if that doesn't perfectly encapsulate the the the broader point i'm trying to make 0.99

01:22:03.620 the complete lack of self-respect for our country because they're not they're not us

01:22:07.660 they're not we're in the era of identity right at the end of the day and and that permeates

01:22:12.920 everywhere and manifests itself in every single uh facet of your life and so now now you've got

01:22:21.080 i don't know how to describe this quite frankly but on our own horse but who on earth would come

01:22:26.280 to to you know buckingham palace and expect to see that no one literally no one and the horse

01:22:31.080 has better composure as well the horse is is standing stock still the uh the rider is just

01:22:36.440 like looking around bored yeah why am i here again yeah but as a people that's acceptable now

01:22:44.120 apparently we're looking at that every institution the sort of managerialism manifests is like well

01:22:48.920 that's the same person so who cares it's like no it's not the same it's not the same actually

01:22:52.840 on a cultural level right on an identity level it's just not the same and it doesn't produce

01:22:58.600 the same culture it's not the same and so again it's just that shamelessness of why that's fine

01:23:03.000 fine that's it no it's not fine no it's not fine have some standards this is awful and it just it

01:23:10.360 it washes over society and you just end up with this gross malaise

01:23:15.160 well for the sake of time i'll have to wrap it up there um let's go to the video comments

01:23:20.920 that was my final yeah no yeah sorry about that yeah i just didn't realize what the time was

01:23:26.960 rory looks like he's summoning he's advising sauron on realistic factory output we must

01:23:32.140 import more easterlings to rip down the trees of fangon forest faster yes and that god it really

01:23:39.020 is just everything but when you realize po shame everything starts just to fall into place yeah

01:23:45.000 but again it's it's literally just the managerial system is a social contract system which it from

01:23:53.000 central government gives every individual a suite of rights so all they can do is make rights claims

01:23:58.000 against the government and presumably one of the citizens but there's there's no moral connectivity

01:24:02.720 between the citizens which is why when you see it you see it all the time like uh on a train in new 0.97

01:24:08.300 york or in no it's philadelphia just some some guy rapes a woman a black guy rapes a woman in the

01:24:13.780 middle of the train it's a crowded train and everyone's like i don't have a location here 0.91

01:24:17.660 this is not my problem i shouldn't stop this i might be in trouble if i hurt the guy or something

01:24:22.520 like that right whereas you go back 50 years can you even imagine yeah can you even imagine like 0.96

01:24:27.660 Someone tries to rape a woman on a train in front of you 0.92

01:24:30.120 Jesus, guys 1.00

01:24:31.460 We're going to have to kick the crap out of this guy 0.99

01:24:33.680 And hold him until the police get it 0.99

01:24:35.080 Anyway, let's carry on

01:24:37.460 Question time

01:24:40.860 So

01:24:42.240 Question is

01:24:43.820 A policy of

01:24:45.020 Power

01:24:46.440 Have you guys advanced my initial

01:24:49.600 Policy of

01:24:51.560 Nationalizing the power source and

01:24:53.400 Having a massive nuclear build up yet

01:24:55.620 With Rupert Lowe

01:24:56.480 or anyone else i mean it is a very um aggressive policy but i think it'll work

01:25:03.580 yes to be honest with you i'd be completely in favor of it the the government at the moment has

01:25:08.400 on their website um a series of papers about how much nuclear power cost to build and so i

01:25:13.480 calculated it apparently you'd need i think it was eight power plants to power every house in

01:25:18.600 britain and that costs 139 billion and most of that cost is because the planning stage is 15

01:25:25.560 to 20 years long yes you could if you reserved all those rights secretary of state you could

01:25:29.820 bring that down by 10 billion at least huge numbers and okay it'd take five or ten years

01:25:35.440 to come online but it'd be great to have in five or ten years time i'm hoping to still be here

01:25:40.120 i mean at the moment the planning stage takes 15 years it does but obviously you again cut that out

01:25:45.260 but um but i mean back in 2011 uh who was in coalition that was at clegg said oh it'll take

01:25:52.520 10 years it's like okay only you had yeah if only yeah that would great i'll wait you know i'm not

01:25:58.840 going anywhere so get on with it but yeah no i think that'd be a great idea uh restore britain

01:26:02.920 obviously you have an energy policy that does emphasize nuclear uh because why wouldn't you

01:26:08.380 you know france is leading the way as a good example at the moment anyway let's get to the next

01:26:13.300 one so there's a story i grew up with called the wish fish and it's about a fisherman that

01:26:22.080 Catches a magical fish and it gives him a wish if he lets it go.

01:26:26.200 And, you know, he wishes for like riches in a mansion. 1.00

01:26:29.680 And so his nagging bitch wife keeps sending him back to get more wishes. 0.98

01:26:33.840 And eventually the fish gets so fed up that it just takes all the wishes back and says he should have appreciated what he had. 0.99

01:26:40.300 And I feel like there's a lesson in this story that a lot of people don't appreciate anymore.

01:26:45.560 And it's kind of weird that no one younger than me has ever heard of this story.

01:26:49.180 I wonder if it's like deliberate.

01:26:52.080 I've never heard of that story either.

01:26:53.860 I have seen the Simpsons episode.

01:26:55.940 Sophie says,

01:26:56.800 There are YouTube videos where Westerners have gone and filmed ghost towns in Punjab.

01:27:01.240 There are whole Punjabi towns that are straight up left for Canada,

01:27:04.440 and the town is just standing there with fully furnished abandoned houses,

01:27:08.120 as if everyone was instantly Thanos-snapped out of existence.

01:27:11.340 Those videos are insane, honestly.

01:27:12.720 I haven't seen that at all.

01:27:14.600 Somewhere new for Callum to go, isn't it? 1.00

01:27:16.720 The abandoned Indian towns. 1.00

01:27:18.300 um i doubt indians would participate in a rodeo but bull riding no no of course not i was joking 0.76

01:27:24.380 um uh india disproves the million monkeys and a million typewriters claim 0.65

01:27:30.360 uh hector says me looking at the india segment then looking at pakistan perhaps i judged you

01:27:37.100 too harshly i mean it's hot it's not that much better um i live in a block of flats with an

01:27:42.480 indian family says lancelot fun fact you can't get the smell of curry out of the brickwork uh 0.74

01:27:47.040 Yeah, I've heard something similar.

01:27:50.820 Sneeda Chuck says,

01:27:51.700 With segments like this one that make me grateful 1.00

01:27:53.240 that my South American country isn't an attractive destination for Indians. 1.00

01:27:56.380 What, you don't need some elite human capital?

01:27:59.480 Don't believe you.

01:28:00.300 I think of the doctors.

01:28:04.220 Austrian economists believe in thermodynamics.

01:28:06.780 Keynesians do not.

01:28:08.300 A government budget isn't a household budget.

01:28:11.940 Yes, it is.

01:28:12.880 I can borrow money to improve my home or piss it away on nothing.

01:28:15.280 the bills can be punted down the road either way the bills come due earlier or later uh correct

01:28:21.120 um i'm also taking the one from dreadnought logan who says he's going to talk about the

01:28:25.760 massive amount of oil fields in latin america coming online in the seizure of venezuelan oil

01:28:29.680 by trump the issue with venezuelan oil is is there is a lot of it very expensive to get out

01:28:36.340 it's not like saudi arabia saudi arabia you just stamp the ground hard enough and oil starts coming

01:28:41.020 out it's incredibly cheap all off the coast isn't it yeah well with venezuela it's it it's it takes

01:28:47.980 a significant amount of capital investment to actually get at the oil and it's it's deep down

01:28:52.600 it's not accessible bad geography all that kind of stuff so essentially what i'm driving at is

01:28:56.820 it's not going to help him by the midterms it won't even help him by um you know the next

01:29:00.920 presidential election so yeah if you can get at it but it's it's going to be a job getting it 1.00

01:29:06.460 Steve says when the boomers die off 0.98

01:29:09.380 how effective would it be if we spend 1.00

01:29:11.000 if we spend there would be pensions

01:29:13.520 in servicing our debt

01:29:15.060 we do have

01:29:23.540 I'll just put it gently, we do have a generational

01:29:25.600 problem

01:29:26.120 particularly focused around one generation

01:29:29.060 but

01:29:31.380 I think it sounds

01:29:33.660 like you're floating upon a solution

01:29:35.560 there that

01:29:36.420 I mean TikTok

01:29:38.480 I mean somebody has to bear the cost 1.00

01:29:41.280 and the boomers could actually afford 1.00

01:29:43.680 it but they won't because 0.67

01:29:45.340 is it going to be us schlubs who work for a living

01:29:47.600 well they're going to put

01:29:49.480 as much of it as they possibly can not even

01:29:51.620 on you but your grandchildren

01:29:52.700 I'd love for my grandchildren

01:29:55.440 I suppose Henry says the biggest issue 1.00

01:29:57.560 with the boomers as a generation is they're so much 1.00

01:29:59.660 larger than other generations and now 1.00

01:30:01.620 time is starting to catch them up

01:30:02.880 The younger generations are also a lot less inclined to get out and vote

01:30:05.640 Resumes will pander to the larger voting bloc

01:30:07.740 And any issues will become the future's problem

01:30:09.320 Exactly as you're saying

01:30:10.200 Yeah, this is totally true

01:30:13.420 Henry says

01:30:15.860 Managerialism destroys community in shame

01:30:17.560 Because it will not stop until all interactions

01:30:19.340 In the country are done via the state

01:30:21.920 That's another great point

01:30:22.900 The state interceding in almost every personal interaction

01:30:26.140 In potential

01:30:27.740 You know, like at any point

01:30:29.740 And remember, the rule is

01:30:32.120 if someone perceives

01:30:34.640 an interaction to have been racist 1.00

01:30:36.420 then that's good enough

01:30:38.780 and that's a hate crime

01:30:39.920 and it could be a third party

01:30:44.040 watching the interaction

01:30:45.280 that perceives it to be racist

01:30:47.300 if A and B

01:30:49.220 are interacting and they don't perceive it to be racist

01:30:51.640 but C does, that's it

01:30:53.220 and it's like, oh my god, that is mental

01:30:54.780 Shame is what happens when you fail to live up to society's standards

01:31:00.080 Standards exist because of judgment 0.99

01:31:01.700 judging people can be harsh and mean being mean gives women the ick but killing your three kids 0.92

01:31:05.760 doesn't apparently um well i don't know about that but you are right it's it's all about the 0.87

01:31:10.180 um ability to judge and the fact that we are allowed to do so and i mean a huge amount of

01:31:17.320 the government's uh policing of interpersonal interactions is the prevention of characterization

01:31:23.980 you are not allowed to characterize this community in this way or that community in that way

01:31:29.080 and characterising them so in public will literally land you in jail yeah sorry you've

01:31:34.760 mischaracterised this community i first noticed this about 10 years ago um when i heard when i

01:31:39.840 heard from a friend that they um basically suffered an assault in the high street and

01:31:43.800 they tried to give their statement to the police and they said it was a fat man and the police

01:31:48.600 refused to write it down and said you have to find another word and when they couldn't think

01:31:52.680 of another word for fat the police walked off and didn't take the report of an assault in the street

01:31:57.500 gravitationally overburdened man yeah rotund okay well anyway wild brilliant anyway so if you want

01:32:05.340 to help us out come and sign up for the website for five pound a month otherwise we will see you

01:32:09.000 are you doing your brocolomics live no right no go on tuesday we will see you tomorrow folks

The Podcast of the Lotus Eaters - September 17, 2026

The Podcast of the Lotus Eaters #1508

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