＂The Bankruptcy Of The United States＂ - Musk WARNS Only AI & Robots Can Save America
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Summary
Elon Musk has a plan to solve the problem of America's $21 Trillion dollar debt problem, and it involves building artificial intelligence and robots. Jeff Perla and Alex Blumberg discuss the implications of this plan, and if it can be implemented.
Transcript
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the lama said america will 1000 go bankrupt due to debt and here's what he claims can save
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the country is this it rob yes sir go for it i think that's right what was the point of
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the doge cuts if the economy is going to grow so much well i think like wasting food are not
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good things to have you know um i i was actually pretty worried about i i guess
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I mean, I think in the absence of AI and robotics, we're actually totally screwed
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because the national debt is piling up like crazy. Now, our interest payments, the interest
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payments to national debt exceed the military budget, which is a trillion dollars. So over a
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trillion dollars, just the interest payments. You know, that was like, I was like, okay, pretty
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concerned about that. Maybe if I spend some time, we can slow down the bankruptcy of the United
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States and give us enough time for the AI and robots to, you know, help solve the national
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It's the only thing that could solve the national debt.
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Like we are 1000% going to go bankrupt as a country and fail as a country without AI
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And so we'd like to, well, we just need, we need enough time to build the AI and robots
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from AI and robots will be enough economic growth and economic potential that if we pair that with
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a little bit of fiscal sanity, we'll solve the debt problem the same way that we did in the 1950s
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and 1960s before it all went to hell again afterwards. So that's the only way to do this.
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That's the only legitimate way to do this, is to grow our way out of the deficit problem.
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But the first part of that is you have to have a little bit of fiscal sanity and you have to have
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the political will to have fiscal sanity. And in many ways, that's the hard part.
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I'll put more of an emphasis on the fiscal sanity part.
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Musk's right that growth is the thing that solves all wounds.
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AI is one potential source of growth, not as fast as my Silicon Valley people trying to get your money on their IPO will tell you.
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But it is one, you know, growth comes from new inventions like AI.
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But there's statements that this is the only thing, AI is the only thing that will save us, I think, are wrong.
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And there's about a trillion dollars going down various rat holes.
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Not so much fraud because it's perfectly legal fraud.
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We're just talking about farm subsidies, speaking of rat hole.
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But, you know, the big one is Social Security, health care.
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You know, our government prints checks and sends it to voters more than it feels like taxing them.
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So it is designed to raise as little money as possible as the highest possible marginal rates.
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So, you know, a 1986-style tax reform or, heaven forbid, put in a consumption tax instead of the income tax.
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And let's fix the dumpster fires of our growth, not just hope for AI.
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Let me introduce you to the California high-speed train example.
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You cannot build anything in the U.S. anymore, which, you know, actually, progressive Democrats have figured out I can't hook up my windmills to the power grid.
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It takes 15 years to get the permits. Maybe something's wrong here. But there are so many just things in the way, permits in the way of getting anything done in the U.S. that I think fixing those dumpster fires of growth, getting back to a little bit of free markets, spending sanity, reform the tax code.
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But those are all perfectly possible of a faintly competent government.
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And then, yes, AI largely of get out of the way.
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The last thing we need is an AI policy to guide the growth of AI.
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That will kill it the way the Europeans did.
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Yeah, the way it's set up right now, it almost feels like somebody who has terrible spending habits,
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like that's in debt with their credit cards and everything,
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if they were to win the lottery with the blessing of a massive economic boom,
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we would handle it terribly right now because we don't have the foundation or the infrastructure
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You know, the spending habits of Congress today
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were applied to an economy where AI and robotics
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bring us to the stratosphere in terms of economic growth.
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because of the habits that we have in place.
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Yeah, so we need to get that score, which it sucks
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because, you know, the way that Elon Musk responded
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to the Doge situation makes me think that, like,
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So he backed right away from that, and now he's just kind of taking a different approach.
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The bigger the government gets, the more money it has, the more political influence it has just by its very nature.
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Right, all that Social Security money and military health care.
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The leering center up in Minnesota, where does that come from?
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He's also continuing saying that saving for retirement is irrelevant because AI is going to create a world of abundance.
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It will not matter when he's talking about retirement.
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In other words, one of the questions is if, in fact, this future we hit massive productivity
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and massive profitability because we're dividing by zero.
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And we're still producing products and services faster and faster.
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And someone needs to be able to have the capital to buy it.
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i mean this is an important question to get to get thought through yeah um well one like side
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recommendation i have is like don't worry about like squirreling money away for uh retirement in
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like 10 or 20 years one matter okay either either we're not going to be here or it just uh like
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the way this unfolds is fundamentally impossible
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What we're really talking about here, okay, let's assume that he's correct
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and that we have these labor-saving robots and software and everything else,
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but how do you distribute all of the goods that are made
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You can't just say, hey, everybody's going to have something for free.
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and there's still arguments to be made about whether or not
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I mean, they're talking about having more robots walking around than humans.
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Is that something that's going to happen in 10 or 20 years?
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that the human-robot partnership will make people more productive,
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Yes, that was one of the more economically incoherent things.
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One of the more economically incoherent things I've ever heard.
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But these guys are brilliant about starting companies and AI, but not about adding together.
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And the fancy word is cognitive dissonance for completely incompatible thoughts that live at the same time.
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So at the same time, don't worry about saving for retirement because we'll all be so bountiful.
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But the U.S. government is 100 percent going to go bankrupt.
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But we need that bankrupt government has to give universal basic income to everybody because we're all going to lose our jobs to the draw.
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I mean, it just does not make any sense whatsoever.
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we have seen this hundreds of times before from the invention of the printing press the steam
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engine the the locomotive the steamship the tractor tractor it's 1900 70 percent of americans work on
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the farm the tractors invented oh no we need universal basic income because they're all going
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to be out of a job well it turned out you got it exactly right this will raise human productivity
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human and this will open this ai is special because it's going to open new possibilities
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It's not we have the old production line and we have now a machine that gets rid of three of you, go out and live in the streets.
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No, this opens new possibilities, new businesses that you can radically reduce the scale of a business to get started.
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The things that humans do are going to become worth much, much more.
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And that's why humans will have the money to buy the stuff.
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So you have spent less time doing the same amount of stuff.
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I want the AI who can answer my email and fill out my expense reports, and I will have three quarters.
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The fact that you guys are agreeing, it is scary because you guys are not talking about your blind spots.
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Yeah, but I mean each time this happens, there's things that we never even thought of that we end up doing with the economy,
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like jobs and tasks that we couldn't think of before because we didn't have the time to do it before.
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But anytime, you know, you are relying on somebody else or relying on the government, especially, you're getting yourself into a trap.
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Like, I mean, the sad thing is that there are going to be people who listen to him here who assume they're going to be taken care of by the system or by the government.
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I mean, even let's say there's retirees out there right now liquidating their stock portfolios and just going on vacations.
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Because there's a big group of people that want to have a Savior.
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And when I mean Savior, I'm talking different than faith.
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I'm talking Savior to say they're going to save us.
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Listen, you know, the old saying, pray like it's up to God,
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I mean, you can pray like it's up to Elon and all the trillionaires and billionaires that are going to take care of you,
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but you better work like it's up to you because it's going to come down.
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You've got to pull your – I think it's a little bit reckless to make a comment like this
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because you are followed by hundreds of millions of people.
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Maybe some people don't follow you, but billions know who you are.
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For you to make a comment like that, it's a little bit scary.
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I will say the other side as well on what you guys are talking about is, yes, the tractor.
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We looked at the numbers of what tractors did and how scary it was.
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40 million workers that we had, and all of a sudden, boom, it was like, oh, my God.
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It was 40% of workers, I think, were in manufacturing.
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But the difference is, you know the zero to million chart that we see?
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You know the zero to million, like, hey, it took Facebook this long to get to a million.
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if you think about inventions that disrupted our lives and it was overnight open ai chat gbt
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was overnight i was like hey can you write a rap song by trump but you know write a rap song
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in tupac's voice but as if trump is saying it with the words that he would use boom that video
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went viral instantly within seconds you got something so i think open ai made things and
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You know how I tore my ACL and everybody's telling me,
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every doctor I meet with atrophy, atrophy, atrophy, atrophy, atrophy.
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Your quad strength is going to go away very quickly.
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I can rehab it and I'm prehabiting it right now to get it addressed.
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The atrophy of the brain of kids no longer need.
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Like right now I'm giving an assignment to one of my nephews.
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and the way I'm doing it is I know you can go to chat GPT and ask for a summary of a book but I
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know the three stories of the book because I've read the entire book and I'm going to say what
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happened to such and such in the story because I want him to read it I don't want him to have
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atrophy because he's relying on open AI so then the question becomes which we don't know we all
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are you know senior fellow Hoover professor Chicago Booth I mean you know the heavyweight he's taught
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what who have been your students over the years I bet you've had some students that have been very
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successful in their lives that are probably famous people successful guy when it comes down to money
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and you know hey you got your stuff that you've done with you know schooling and and what you're
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doing now but we don't know what life is going to be like when all of a sudden we're going to the
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mall we see a thousand robots we don't know what work is good we they're part of unknown this is
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why i'm part of the andy grove community where he wrote a book called only the paranoid survive
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i think if you're cocky arrogant confident about anything right now you will be destroyed
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I think if you think you know it all right now because of whatever thinking in the past got you,
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don't get me wrong, have your values, principles, all those evergreen principles,
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but if you get too cocky right now, there's a percentage of things that could happen next decade or two
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And you as a family, the leader of the family that's watching this content,
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a lot of our people that follow the content, they're business owners, they're executives,
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they're people that are performers, or else you couldn't listen.
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You couldn't tolerate listening to us for too long, right?
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So you're somebody, you're a performer, you're winning, it is on us.
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If we sit there and we're like, oh, my God, Elon Musk just told us this is great.
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Babe, let's go to Vegas and double up the money and gamble.
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I think there's a little bit of risk that we're facing.
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I wouldn't worry about young people taking retirement advice from Elon Musk's tweets too seriously.
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Where I'm in Palo Alto, most young people are still, if they're not saving for retirement,
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it's because they think the climate apocalypse is going to come.
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No, young people who've had the unfortunate experience of a fancy university tend to believe that way.
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But more seriously, you know, what's going to matter is people who know how to use AI.
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So I actually think the young are going to be fine because they're the ones who know how to use AI to cheat on tests.
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They're going to know how to use AI in the workplace.
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Everything that's come, people have always said, oh, it's going to be true.
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It's going to destroy the morality of young America.
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If you worry about jobs, which I do, there are going to be people who lose their jobs.
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There are going to be people who are left behind.
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But what we absolutely don't want to do is regulate AI or give them checks so long as they don't learn new skills and get a new job.
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You know, if you worry about jobs, worry about our education system.
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You worry about people who aren't able to read, worry about people who aren't taught to read in schools,
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who are graduated from schools thanks to the teachers' union with a third-grade reading level ability.
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That's where lack of reading comes from, not because they're spending too much time scrolling AI-enabled Twitter.
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I had no idea how many people were going to show up.
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We have people that came for the first time and they've never missed it.
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and we're about to make the announcement with speakers as well here pretty
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