Midterm Elections -- Analysis & What Now?; More | Yaron Brook Show의 전체 녹취록

00:04:57.069 Michigan and one at Hillsdale. And then I'm also teaching 69 00:04:57.129 --> 00:05:01.550 some classes at, what is it, North Point? I forget 70 00:05:01.569 --> 00:05:04.810 the name of the university. Something like that. Anyway, it's 71 00:05:04.829 --> 00:05:06.600 going to be a lot of fun and be a 72 00:05:06.620 --> 00:05:09.839 pretty intense two days. So I fly in. I think 73 00:05:09.879 --> 00:05:12.240 Jennifer's going to pick me up. We're going to go 74 00:05:12.779 --> 00:05:17.639 to University of Michigan, then drive up. way north to Michigan, 75 00:05:17.920 --> 00:05:20.660 and teach two or three classes in the morning the 76 00:05:20.699 --> 00:05:25.240 next day. Then we're going to drive back south to Hillsdale, 77 00:05:25.740 --> 00:05:29.180 teach a class there, drop off at the airport, spend 78 00:05:29.199 --> 00:05:33.290 the night at the airport, and fly from there to Colorado, 79 00:05:33.370 --> 00:05:34.910 where I'll be doing a couple of things for the 80 00:05:34.949 --> 00:05:38.269 leadership program of the Rockies. So those of you involved 81 00:05:38.290 --> 00:05:40.589 in the leadership program and listening to the show, I 82 00:05:40.629 --> 00:05:43.800 hope to see you there. And then on Friday afternoon, 83 00:05:43.860 --> 00:05:46.500 I fly to San Francisco, and I'm doing this big debate. 84 00:05:47.139 --> 00:05:49.750 Me and Nikos, Nikos is flying in from Greece. We're 85 00:05:49.790 --> 00:05:56.910 taking on a couple of anti-capitalist Catholics. Anti-capitalist Catholics. This 86 00:05:56.970 --> 00:05:59.790 is going to be Saturday night, the 14th, so a 87 00:05:59.829 --> 00:06:04.040 week from tomorrow. I hope you can join us. Expect 88 00:06:04.800 --> 00:06:08.459 somewhere between 300 to 500 people in the audience. It's 89 00:06:08.500 --> 00:06:13.000 a rowdy group. There is audience participation. The audience can 90 00:06:13.040 --> 00:06:17.540 debate the debaters. The things like you debate, but then 91 00:06:17.560 --> 00:06:20.319 there are also these things called duels where you just 92 00:06:20.370 --> 00:06:24.370 go after each other. It's pretty crazy. I've done one 93 00:06:24.410 --> 00:06:27.370 of these debates. This one looks like it's a little 94 00:06:27.389 --> 00:06:29.589 bit more structured than the one I did before. And 95 00:06:29.629 --> 00:06:32.829 it's two against two, whereas before it was me against everybody. 96 00:06:33.569 --> 00:06:35.970 So we'll see what happens. But if you're in the 97 00:06:36.009 --> 00:06:39.980 Bay Area, don't miss this. This is fun. And we're 98 00:06:40.000 --> 00:06:45.910 talking about an audience that is all super, I think, influential, 99 00:06:46.310 --> 00:06:55.000 young startup entrepreneurs and venture capitalists and star students from 100 00:06:55.060 --> 00:06:57.600 Stanford and Berkeley and places like that in computer science. 101 00:06:57.959 --> 00:07:03.000 It's a very tech-heavy audience, so join us.

It's a 102 00:07:03.040 --> 00:07:05.529 little crazy, but it'll be a lot of fun, and 103 00:07:05.569 --> 00:07:07.910 you'll get to see Nikos and me for the first 104 00:07:07.949 --> 00:07:12.600 time tag-teaming in what I think will be more like 105 00:07:12.639 --> 00:07:16.560 a wrestling match than an intellectual debate, but we will see. 106 00:07:16.759 --> 00:07:20.889 An intellectual wrestling match. So if you're in the Bay Area, 107 00:07:20.910 --> 00:07:24.269 don't miss it. Let's see, where do we go from there? 108 00:07:24.730 --> 00:07:27.250 Then I go to Ecuador, where I'm giving a day-long 109 00:07:27.290 --> 00:07:30.240 seminar in Quito, and then a day-long seminar in Guayaquil 110 00:07:30.620 --> 00:07:34.660 on capitalism, and then I fly home for quite a bit. 111 00:07:35.500 --> 00:07:37.600 I've got one trip to Austin in December, and then 112 00:07:37.620 --> 00:07:40.980 the next trip is late January. So that is the plan. 113 00:07:42.079 --> 00:07:45.040 Once I get back home from this next trip, there 114 00:07:45.079 --> 00:07:49.620 will be regular shows throughout November and December and January. 115 00:07:51.240 --> 00:07:54.509 All right. Anything else I want to update? Oh, yes. Yes, yes. 116 00:07:54.850 --> 00:07:59.470 Peterson Academy came out the day before yesterday with the 117 00:07:59.610 --> 00:08:02.930 Ayn Rand course. So if you're a subscriber to the 118 00:08:02.949 --> 00:08:06.589 Peterson Academy, watch it. Give it good reviews. Thumbs up. 119 00:08:06.769 --> 00:08:10.529 Make comments. Just like everywhere else. Commenting. is good. It's 120 00:08:10.610 --> 00:08:14.329 more engagement. It's good. Tell them you love the fact 121 00:08:14.360 --> 00:08:16.149 that I'm teaching there and that they have a course 122 00:08:16.180 --> 00:08:18.680 on Ayn Rand. If you're not a subscriber to the 123 00:08:18.699 --> 00:08:23.120 Peterson Academy, I now have seven courses on the Peterson Academy. 124 00:08:23.959 --> 00:08:26.800 It might be worth subscribing for one year just to 125 00:08:26.819 --> 00:08:29.000 be able to take the seven courses. A lot of 126 00:08:29.019 --> 00:08:33.460 it's material I haven't given really anywhere else. And I 127 00:08:33.519 --> 00:08:38.240 think most of you would really enjoy it. There's capitalism, 128 00:08:38.259 --> 00:08:46.879 which capitalism you can get elsewhere, but capitalism, finance, globalization, money. Oh, God, 129 00:08:46.980 --> 00:08:51.480 what else? Venture capital and private equity, Ayn Rand, and 130 00:08:51.519 --> 00:08:55.500 a missing one, the corporation. Each one of those anywhere 131 00:08:55.519 --> 00:08:58.580 between 8 to 10 hours. So check them out. I 132 00:08:58.620 --> 00:09:05.519 think you'll enjoy them. And, yeah, Peterson Academy. Sign up. 133 00:09:06.019 --> 00:09:10.750 Sign up. you know again one year is 400 bucks 134 00:09:10.750 --> 00:09:14.350 400 bucks for seven of my courses it's a pretty 135 00:09:14.370

--> 00:09:16.350 good deal and there are other good courses there that 136 00:09:16.370 --> 00:09:19.460 I would take there's some economics courses that are really 137 00:09:19.480 --> 00:09:22.279 good there's some history courses that are probably really good 138 00:09:22.720 --> 00:09:25.919 so definitely I think there's good content at Peterson Academy 139 00:09:27.019 --> 00:09:33.750 and anyway I think that's all the news I have 140 00:09:35.509 --> 00:09:40.139 for now all right So let's turn to the news. Today, 141 00:09:40.159 --> 00:09:44.200 we'll probably just talk about the midterm elections and analysis, 142 00:09:44.240 --> 00:09:48.279 maybe something in the Middle East, but not much. We now, 143 00:09:48.460 --> 00:09:51.889 you know, last time we talked was during election night, 144 00:09:52.049 --> 00:09:57.529 so we didn't really have it, the final results, although 145 00:09:58.389 --> 00:10:05.139 the trend was clear, the ultimate outcome was kind of clear. 146 00:10:06.220 --> 00:10:10.110 This was a historic loss for the Republican Party. I mean, 147 00:10:11.549 --> 00:10:16.169 it's hard to even, I mean, it surprised everybody, the 148 00:10:16.210 --> 00:10:18.690 extent of this loss. It's still not over because there 149 00:10:18.710 --> 00:10:22.429 are two seats that still haven't been decided. One in Mississippi. 150 00:10:22.830 --> 00:10:27.889 Can you imagine that there's a race in Mississippi that 151 00:10:28.000 --> 00:10:31.919 is going down, what is it, days later, and the 152 00:10:31.960 --> 00:10:35.980 Democrat is leading with 90-something percent of the vote counted, 153 00:10:36.000 --> 00:10:42.820 and there's still some uncounted votes. Mississippi. Republicans might lose 154 00:10:42.879 --> 00:10:47.629 the Senate seat in Mississippi. It's pretty amazing. Anyway, as 155 00:10:47.830 --> 00:10:50.970 it stands now, Democrats have 54 seats in the Senate, 156 00:10:51.309 --> 00:10:55.669 Republicans 44. I think the most optimistic was 53 for 157 00:10:55.710 --> 00:10:59.100 the Democrats. They might land up with 56 if they 158 00:10:59.120 --> 00:11:08.379 win Alaska and Mississippi. It was an unbelievable repudiation of 159 00:11:08.399 --> 00:11:13.370 the Republican Party and, as I'll mention, of Trump. I mean, 160 00:11:13.690 --> 00:11:22.220 beyond my expectations. It's going to be hard, it's hard 161 00:11:22.250 --> 00:11:27.659 to see how the Republicans win back the Senate before 2032. 162 00:11:27.659 --> 00:11:35.519 I mean, it's just, because this was a very, very good, 163 00:11:35.539 --> 00:11:40.200 I mean, looked like a very, very good election for 164 00:11:40.259 --> 00:11:42.970 Republicans in the sense of where the Senate seats were available. 165 00:11:43.379 --> 00:11:45.870 This was a red state election and they lost in 166 00:11:45.929 --> 00:11:51.610 red states. They lost Georgia and Texas and North Carolina 167 00:11:52.019 --> 00:11:58.990 and South Carolina. It's just, it's beyond words, right? It's historic. 168 00:12:00.450 --> 00:12:02.250 I don't think we've had anything like it in many, 169 00:12:02.269 --> 00:12:07.620 many decades. They lost Ohio, another red state. They lost, 170 00:12:07.740 --> 00:12:11.879 oh God, even worse. They lost Kansas. They lost Iowa. 171 00:12:13.840 --> 00:12:16.840 Now they lost Maine, Maine, I think the aberration was 172 00:12:16.860 --> 00:12:20.750 Susan Collins managing to win Maine in the past. But 173 00:12:21.009 --> 00:12:26.129 think about this. North Carolina, South Carolina, Texas, Ohio, Kansas, Iowa, 174 00:12:26.610 --> 00:12:30.169 all states that I think Trump carried by double digits. 175 00:12:33.019 --> 00:12:36.279 And they lost big, didn't lose small, particularly in Texas. 176 00:12:39.080 --> 00:12:42.210 Democrats got to hold Georgia, which they never should have won. 177 00:12:44.750 --> 00:12:50.519 They got to hold Virginia, hold New Hampshire, where the 178 00:12:50.559 --> 00:12:53.720 Republicans put up the best candidate they could, which was Sununu, 179 00:12:54.679 --> 00:12:58.019 who was the former governor of New Hampshire. And then 180 00:12:58.039 --> 00:13:05.279 the Democrats held Michigan in spite of the fact that 181 00:13:05.299 --> 00:13:08.419 their candidate was Al-Sayyad, like about as bad of a 182 00:13:08.440 --> 00:13:15.120 candidate as you could find. Just horrific. Republicans held Florida, 183 00:13:15.220 --> 00:13:17.460 and I think it's going to be interesting to talk 184 00:13:17.519 --> 00:13:21.799 about the difference between Florida and Texas. Florida, basically, Republicans 185 00:13:21.870 --> 00:13:25.529 held both the Senate and the governor and did okay 186 00:13:25.549 --> 00:13:28.950 in the House races. It was a bloodbath in Texas, 187 00:13:29.450 --> 00:13:34.250 a complete bloodbath. Republicans held in Kentucky, and they held 188 00:13:34.309 --> 00:13:42.120 in West Virginia. As I said, Mississippi and Alaska still undecided. 189 00:13:43.039 --> 00:13:50.019 The Democrat leads in Mississippi by 1,700 votes, 3,600 mail ballots, 190 00:13:50.659 --> 00:13:55.559 plus some affidavits are still outstanding. They expect to certify 191 00:13:55.580 --> 00:14:06.450 the election on November 13th. In Alaska, with 74% of 192 00:14:06.470 --> 00:14:13.440 the vote counted, the Democrat is in the lead. So 193 00:14:13.960 --> 00:14:16.139 just think of that in a sense of, I mean, 194 00:14:16.179 --> 00:14:19.370 it's not clear she'll win in Alaska, particularly given the 195 00:14:19.629 --> 00:14:26.509 rank choice tabulations. But, yeah, it looks like, I mean, 196 00:14:26.549 --> 00:14:28.820 my guess is the Democrats will pick up one of 197 00:14:28.840 --> 00:14:33.620 the two, if not both. I mean, the only state, 198 00:14:33.740 --> 00:14:36.139 as we said, that really resisted the trend was Florida. 199 00:14:37.200 --> 00:14:41.220 And I don't know exactly why, but they won the Senate, 200

00:14:41.240 --> 00:14:45.340 they won the governorship. But we can discuss why that is. 201 00:14:45.600 --> 00:14:49.759 In terms of the House, already being called, the Democrats 202 00:14:49.820 --> 00:14:56.940 lead 250 to 162. They flipped 42 seats. NBC estimates 203 00:14:57.700 --> 00:15:01.159 that the final would be 259 to 176. Again, a 204 00:15:01.470 --> 00:15:09.490 historic pickup. Nate Cohen's preliminary estimate is the Democrats edged 205 00:15:09.610 --> 00:15:17.139 out Republicans. House votes by 13 points. Large gains among 206 00:15:17.179 --> 00:15:20.720 young people and among Hispanics. And that's true across the board. 207 00:15:21.580 --> 00:15:26.750 Hispanics flipped. Hispanics who voted for Trump last time, no more. 208 00:15:27.230 --> 00:15:37.610 They clearly flipped. So, let's see, what else. 209 00:15:37.549 --> 00:15:40.210 Do we want to talk about? Yeah, Texas. Texas. We 210 00:15:40.250 --> 00:15:44.289 talked about the fact that Tallarico beat Paxton. But Texas 211 00:15:45.629 --> 00:15:49.009 flipped the governor's house to Democratic, which is a shocker, right? 212 00:15:49.860 --> 00:15:54.519 The first Democratic statewide win in Texas since 1994. And 213 00:15:54.580 --> 00:15:59.620 Democrats swept all the statewide elections, including the Railroad Commission, 214 00:16:01.340 --> 00:16:04.039 which is important because the Railroad Commission is about regulating business. 215 00:16:05.039 --> 00:16:07.419 But the Republicans have put up a guy who was 216 00:16:07.460 --> 00:16:10.710 an explosive racist who made some pretty awful racist comments 217 00:16:10.750 --> 00:16:19.570 before the election. That was repudiated. In terms of other governorships, 218 00:16:19.629 --> 00:16:26.970 Rhode Island, state Democratic, Georgia flipped to the Democrats. We 219 00:16:26.990 --> 00:16:35.440 know Ohio flipped to the Democrats. Again, two red states. Just, 220 00:16:36.519 --> 00:16:39.179 you know, unbelievable in terms of the scope of this 221 00:16:39.860 --> 00:16:42.000 in terms of scope of this, and don't let people 222 00:16:42.100 --> 00:16:45.740 out there minimize this. This is massive. This is a, 223 00:16:46.320 --> 00:16:48.740 I don't know how Republicans are going to recover from this. 224 00:16:49.259 --> 00:16:50.940 I mean, I think they, I know how they recover. 225 00:16:50.980 --> 00:16:52.899 They recover because the Democrats are going to do such 226 00:16:52.940 --> 00:16:56.740 a lousy job that voters are going to turn against 227 00:16:56.799 --> 00:17:03.639 them very quickly here. Trump on Truth Social said 174 228 00:17:03.639 --> 00:17:05.900 wins and 9 losses. I don't even know what that means. 229 00:17:06.299 --> 00:17:10.259 And he put a great evening in all caps. Then 230 00:17:10.279 --> 00:17:14.559 he said he's a little bit surprised. And finally, he 231 00:17:14.619 --> 00:17:18.349 said the Republicans would have won in a landslide had 232 00:17:18.410 --> 00:17:20.609 he been on the ballot. Of course, he was on 233 00:17:20.630 --> 00:17:24.349 the ballot. Most voters recognize the fact that he was 234 00:17:24.390 --> 00:17:27.710 on the ballot. This was much more about reputing any 235 00:17:27.799 --> 00:17:32.480 Trump than anything else. This is clearly an anti-Trump vote. 236 00:17:32.960 --> 00:17:34.339 And if he'd been on a ballot, he would have 237 00:17:34.380 --> 00:17:40.029 lost in a historic landslide to whoever the Democratic presidential 238 00:17:40.109 --> 00:17:44.670 nominee would have been. To the Wall Street Journal, Trump 239 00:17:44.690 --> 00:17:47.029 said that the war in Iran contributed to the losses, 240 00:17:47.990 --> 00:17:50.529 but he defended launching it anyway. We'll get to some 241 00:17:50.549 --> 00:17:56.539 of the other people's analysis of why this happened. But 242 00:17:56.559 --> 00:18:02.680 there's no question, this was Trump losing. And I told you, 243 00:18:02.700 --> 00:18:07.849 with the exception of 2024 and 2016, Trump is a loser. 244 00:18:09.390 --> 00:18:17.470 The people he nominates to statewide positions lose. The senators 245 00:18:17.539 --> 00:18:21.640 and House members he backs lose. He's very, very, very 246 00:18:21.700 --> 00:18:28.059 influential in Republican circles. But in the country, people don't 247 00:18:28.099 --> 00:18:36.240 like Trump. His approval rating is at historical lows. Yeah, 248 00:18:36.319 --> 00:18:40.839 I mean... As I said on Tuesday, from Rio de Janeiro, 249 00:18:40.920 --> 00:18:44.400 and now from Mexico City, this was a massive repudiation 250 00:18:44.740 --> 00:18:48.480 of the Republican Party, of the Republican Senate, of the House, 251 00:18:49.019 --> 00:18:53.089 and of Donald Trump. This is basically Americans saying to 252 00:18:53.109 --> 00:18:57.529 the Republican Party, you have failed. And a lot of 253 00:18:57.569 --> 00:19:00.670 this has to do with the fact that Republicans refused 254 00:19:00.710 --> 00:19:02.369 to stand up to Trump, and it would be interesting 255 00:19:02.410 --> 00:19:06.470 to see if anything changes after this. But Trump is 256 00:19:06.509 --> 00:19:11.369 unpopular and the Republicans did nothing to repudiate him, did 257 00:19:11.430 --> 00:19:13.690 nothing to challenge him, did nothing to overturn any of 258 00:19:13.730 --> 00:19:21.029 his illegitimate executive orders or any of his decisions that 259 00:19:21.869 --> 00:19:31.940 were bad. So, yeah, by any measure, historical repudiation. And 260 00:19:32.400 --> 00:19:36.039 to a large extent, Trump is completely evading it. completely 261 00:19:36.079 --> 00:19:38.099 evading it. He doesn't want to hear it. He doesn't care. 262 00:19:40.960 --> 00:19:45.140 I mean, think about Mississippi. right? 263 00:19:48.200 --> 00:19:48.420 Yeah. 264 00:19:50.900 --> 00:19:58.000 I don't know what, what happens, what happens, right? And, 265 00:19:58.430 --> 00:20:07.569 you know, Mississippi, 1700, 1700

volt margin, um, it'll be 266 00:20:07.730 --> 00:20:10.289 really interesting to see how that plays out. There's no 267 00:20:10.369 --> 00:20:13.829 recount law. You know, a lot of states have, if 268 00:20:13.890 --> 00:20:16.269 it's a close election, you have to go to recount. 269 00:20:16.329 --> 00:20:23.069 There's no recount law. And, you know, and the same 270 00:20:23.089 --> 00:20:25.650 in Alaska. Who's going to challenge it? Who's going to 271 00:20:25.710 --> 00:20:28.819 say it's unfair? All going to be interesting to see 272 00:20:28.930 --> 00:20:31.230 those two. But again, Mississippi, who thought we'd be talking 273 00:20:31.279 --> 00:20:43.509 about Mississippi? That was a locked-in Republican seat. But probably 274 00:20:43.529 --> 00:20:48.289 the most shocking results and the most meaningful results and 275 00:20:48.309 --> 00:20:52.720 the most important results, I think, long term. And ones 276 00:20:52.759 --> 00:20:56.339 that actually give me a certain level of hope, and 277 00:20:56.359 --> 00:21:00.140 I want to talk about this, is Texas. Both Abbott 278 00:21:00.319 --> 00:21:06.329 and Paxton, not moderates, and they lost. They lost big. 279 00:21:06.509 --> 00:21:12.230 They didn't lose small. They lost big. Texas voters fired 280 00:21:12.269 --> 00:21:16.299 the Republican Party. Fired the Republican Party that's governed Texas 281 00:21:16.359 --> 00:21:22.099 for decades now. And this is in spite of the 282 00:21:22.140 --> 00:21:25.079 Texas economy doing as well as it has done for 283 00:21:25.119 --> 00:21:30.450 all these years. So we should think about why that is. 284 00:21:32.069 --> 00:21:35.809 What happened in Texas? We can talk about what happened nationwide, 285 00:21:35.869 --> 00:21:39.599 and a lot of that is repudiating Trump. And we'll 286 00:21:39.619 --> 00:21:43.799 get to some of the some of the explanations people 287 00:21:43.839 --> 00:21:48.250 are giving for it. But what explains Texas, particularly Abbott losing, 288 00:21:49.809 --> 00:21:52.910 really losing, Republicans losing all the statewide elections? And I'm 289 00:21:52.930 --> 00:21:59.150 going to say that it's the national trend, the repudiation 290 00:21:59.190 --> 00:22:04.529 of Trump, and everything associated with that. And look, I've 291 00:22:04.569 --> 00:22:08.859 seen a lot of people posting, oh, it's all the 292 00:22:08.900 --> 00:22:13.539 California transplants, to Texas have brought their blue politics to it. 293 00:22:13.549 --> 00:22:17.279 That's bullshit. It's just not true. Not enough of them 294 00:22:17.980 --> 00:22:22.779 to make a difference. And it's just, there's no evidence 295 00:22:22.819 --> 00:22:29.089 of that. The reality is that Texas, beyond all the 296 00:22:29.130 --> 00:22:33.710 other explanations we'll get to about the nationwide phenomena, I 297 00:22:33.750 --> 00:22:37.329 think there are two issues in Texas that made Texas 298 00:22:38.660 --> 00:22:43.599 the Republican Party anathema to so many voters, including Republican 299 00:22:43.640 --> 00:22:46.660 voters or people who voted Republican in the past. And 300 00:22:46.720 --> 00:22:49.000 my guess is a lot of Republicans just stayed home. 301 00:22:49.720 --> 00:22:53.099 And these are two issues that are not on, I 302 00:22:53.140 --> 00:22:54.640 don't think, a lot of people's radar, at least not 303 00:22:54.720 --> 00:22:57.140 one of them. Well, the first is maybe more obvious. 304 00:22:57.660 --> 00:23:03.279 It's immigration. Well, you know, all the headlines about what 305 00:23:03.319 --> 00:23:07.640 happened in Minneapolis and Minnesota with ICE. ICE has been 306 00:23:08.029 --> 00:23:12.710 extraordinarily active in Texas. And in Texas, local police forces 307 00:23:13.369 --> 00:23:16.750 have been reinforcing ICE and helping ICE and assisting ICE. 308 00:23:18.230 --> 00:23:23.630 And ICE has rounded up and deported or put in 309 00:23:23.910 --> 00:23:32.880 camps significant numbers of illegal immigrants in Texas. And this 310 00:23:33.720 --> 00:23:39.250 has brought about an enormous amount of angst within Immigrant communities, 311 00:23:39.269 --> 00:23:43.829 Hispanic communities in the state. Hispanic communities that have shifted 312 00:23:43.869 --> 00:23:47.650 to Trump in the 2024 election, that voted for him 313 00:23:47.670 --> 00:23:52.779 in congressional races, voted Republicans and gave the Republicans the 314 00:23:52.940 --> 00:23:56.599 lead that they got in the House of Representatives. Those 315 00:23:56.680 --> 00:24:03.359 Hispanic voters abandoned the Republican Party en masse. When they 316 00:24:03.480 --> 00:24:06.259 voted for Trump, they thought they'd get better border enforcement. 317 00:24:07.250 --> 00:24:10.910 what was going on under Biden was clearly ridiculous. It 318 00:24:10.930 --> 00:24:15.670 was chaos. And they thought that what Trump would do 319 00:24:16.539 --> 00:24:20.079 is round up the criminals, the gangsters, the gang members, 320 00:24:20.420 --> 00:24:25.400 and deport them. And okay, you know, nobody really objects 321 00:24:25.460 --> 00:24:30.799 to getting rid of, you know, actual criminals. But what 322 00:24:30.839 --> 00:24:37.430 happened was that hardworking, yeah, illegals got rounded up. They're 323 00:24:37.450 --> 00:24:41.410 family members. They're family members of legal immigrants to the 324 00:24:41.490 --> 00:24:44.599 United States, legal residents of Texas and of the United States. 325 00:24:45.740 --> 00:24:51.400 They got rounded up. And so they're family members. They're co-workers. 326 00:24:51.740 --> 00:24:58.309 They're employees. They're employers. People who are productive, who are 327 00:24:58.329 --> 00:25:03.309 living a life, who are not criminal, who just don't 328 00:25:03.349 --> 00:25:07.140 have the paperwork. They didn't get permission. permission in America 329 00:25:07.400 --> 00:25:10.880 God they were the ones rounded up they were the 330

00:25:10.960 --> 00:25:14.740 ones sent to the camps and then deported out of 331 00:25:14.759 --> 00:25:20.970 the country I'm telling you that the ICE immigration issue 332 00:25:21.109 --> 00:25:23.950 was big all over the country but big particularly I 333 00:25:24.009 --> 00:25:28.170 think in places like Texas and I don't think that 334 00:25:28.210 --> 00:25:30.859 played out the same way in Florida I don't think 335 00:25:30.920 --> 00:25:33.789 ICE was as aggressive in Florida I don't think the 336 00:25:33.829 --> 00:25:37.670 local governments in Florida were as cooperative as they were 337 00:25:37.690 --> 00:25:41.150 in Texas. I don't think that the governor, while they 338 00:25:41.190 --> 00:25:44.700 talked about illegal immigration, they didn't make it a huge 339 00:25:44.759 --> 00:25:48.880 issue as they did in Texas. Remember, Texas wanted to 340 00:25:48.900 --> 00:25:55.819 control its old border. So I think immigration, because of 341 00:25:55.859 --> 00:26:00.750 the border, because of the enforcement, because of ICE, played 342 00:26:00.789 --> 00:26:04.140 a huge issue in Texas. And didn't so much in 343 00:26:04.160 --> 00:26:07.799 Florida because it wasn't a big issue in Florida. I 344 00:26:07.819 --> 00:26:11.569 think the second one is nobody's really reporting on it, 345 00:26:11.619 --> 00:26:13.720 nobody's really talking about it, but I think it's important. 346 00:26:14.130 --> 00:26:16.430 And I think it makes a difference. It probably didn't 347 00:26:16.450 --> 00:26:20.910 make the deciding difference, but it made a difference. That's abortion. 348 00:26:23.009 --> 00:26:26.829 Texas has one of the most draconian anti-abortion laws in 349 00:26:26.869 --> 00:26:33.250 the country. It was just treating women horrifically. It was 350 00:26:33.289 --> 00:26:37.710 denying abortions in cases where medically it was necessary. It 351 00:26:37.769 --> 00:26:43.380 was criminalizing and prosecuting women. It was trying to ban 352 00:26:44.119 --> 00:26:49.220 the boning after pill. I mean, the Texas government was 353 00:26:49.259 --> 00:26:53.299 going all out, Paxton and Abbott and the rest of them, 354 00:26:53.640 --> 00:26:59.809 all out to crush abortion in the state. And doing 355 00:26:59.869 --> 00:27:05.750 it in a cruel, purposefully the cruelest way they could 356 00:27:05.769 --> 00:27:12.160 think of. And I think, and look, a majority of Texans, 357 00:27:12.500 --> 00:27:18.400 a significant majority of Texans, support abortion rights. They do. Abortion, 358 00:27:18.900 --> 00:27:25.019 I think it's 58% of voters who support abortion. A 359 00:27:25.099 --> 00:27:29.569 lot of Republican women, a lot of Republican women, women 360 00:27:29.589 --> 00:27:33.609 who voted Republican in the past, my guess is voted 361 00:27:33.670 --> 00:27:39.589 against Abbott, voted against Paxton. Maybe just on this one issue. 362 00:27:40.970 --> 00:27:47.299 The two of them were particularly cruel. So I think 363 00:27:47.359 --> 00:27:51.480 immigration and abortion played a big role in Texas. By 364 00:27:51.500 --> 00:27:56.869 the way, there were propositions on several states' ballots around abortion. 365 00:27:57.980 --> 00:28:03.519 Idaho voted against allowing abortions. But two other states basically 366 00:28:04.500 --> 00:28:09.920 reaffirmed abortion rights. So generally in the country, the country 367 00:28:09.980 --> 00:28:20.509 is pro-abortion. So let's talk about the rights autopsy of 368 00:28:20.670 --> 00:28:26.529 why they lost. What people think. Well, we'll divide it 369 00:28:26.609 --> 00:28:32.539 into several camps and we'll go from there. We'll start 370 00:28:32.599 --> 00:28:38.200 with camp number one. It's the war. It's the war. 371 00:28:38.460 --> 00:28:41.339 Trump promised no wars. He violated that promise. It's all 372 00:28:41.380 --> 00:28:43.299 about the Iran war. If not for the Iran war, 373 00:28:43.740 --> 00:28:48.150 Republicans would have won this election. Leading the chorus on 374 00:28:48.190 --> 00:28:53.569 this one is the vice president, J.D. Vance, who wrote 375 00:28:53.630 --> 00:28:56.789 on Axe, quote, the reason we lost is the war. 376 00:28:57.390 --> 00:29:06.940 That's it. The president said so last night. I mean, 377 00:29:07.220 --> 00:29:10.740 the reality is that exit polls do not show that. 378 00:29:12.000 --> 00:29:14.279 That while the cost of fuel did go up and 379 00:29:14.319 --> 00:29:17.759 affordability was a big issue, cost of living was a 380 00:29:17.779 --> 00:29:22.019 big issue, the World War was not a big issue 381 00:29:22.039 --> 00:29:25.000 for voters, one way or the other. And the problem 382 00:29:25.039 --> 00:29:28.789 of affordability, the problem of prices, is less related to 383 00:29:28.809 --> 00:29:31.089 the war and more related to tariffs than anything else 384 00:29:31.190 --> 00:29:39.849 in general economic policy. So it's just damn evasive of reality, 385 00:29:39.940 --> 00:29:42.920 and what voters are actually saying and were saying to 386 00:29:42.960 --> 00:29:46.240 blame the war. A war that Vance was against from 387 00:29:46.259 --> 00:29:49.619 the beginning. A war he tried and succeeded in stopping 388 00:29:49.849 --> 00:29:55.829 before there was victory. Vance is the first senior official 389 00:29:55.869 --> 00:29:59.170 to break with Trump who still says the war was 390 00:29:59.230 --> 00:30:02.789 right But he said it contributed, but it wasn't a 391 00:30:02.809 --> 00:30:08.430 big factor. I mean, as I've said many, many times, 392 00:30:08.589 --> 00:30:11.470 it's not starting the war that's a problem. The problem 393 00:30:11.490 --> 00:30:16.099 was not winning it and not getting congressional approval and 394 00:30:16.150 --> 00:30:18.599 not telling the American people why we went to war, 395 00:30:19.240 --> 00:30:23.839 not addressing the country. You know, when you're invoking, when 396 00:30:23.859 --> 00:30:30.200 you're

pursuing such an important and significant action as a 397 00:30:30.220 --> 00:30:34.720 war So it's a Trump failure, but it's not the 398 00:30:34.799 --> 00:30:44.529 failure that caused this, you know, complete repudiation. In the 399 00:30:44.569 --> 00:30:48.970 Free Press, Michael Brendan Dougherty wrote, the simplest explanation is 400 00:30:48.990 --> 00:30:54.259 the right one. Trump ran on ending wars. He started one. He, quote, 401 00:30:54.410 --> 00:30:57.980 made himself personally responsible for its outcome and ensured his 402 00:30:58.019 --> 00:31:02.839 party would bear the costs. Republicans lost, quote, because the 403 00:31:02.900 --> 00:31:05.859 leader promised to put America first and did anything but 404 00:31:06.240 --> 00:31:08.480 with regard to the war, right? And the hint here 405 00:31:08.559 --> 00:31:12.019 is Israel first. Instead of America first, he put Israel first. 406 00:31:14.839 --> 00:31:20.930 Vance also mentioned Israel. We're fighting Israel's wars. And the Federalist, 407 00:31:21.710 --> 00:31:26.710 John David Davidson, Daniel Davidson, writes, quote, neocons blame midterm 408 00:31:26.750 --> 00:31:32.130 wipeout on everything but Iran. Exit polls show that three 409 00:31:32.190 --> 00:31:35.529 in four voters called the war a crucial or major factor. 410 00:31:38.150 --> 00:31:45.799 Three in four voters. That's what he's citing. The Wall 411 00:31:45.819 --> 00:31:56.210 Street editorial board said the problem was that there was 412 00:31:56.230 --> 00:32:02.029 no victory. Promised regime chain collapse? and promised no downside, 413 00:32:02.480 --> 00:32:06.869 and didn't deliver. Didn't deliver. That's coming from the Wall 414 00:32:06.890 --> 00:32:11.450 Street Journal, from Mark Levin, Dan Lelouch, Mark Thiessen. So 415 00:32:11.589 --> 00:32:14.109 it's the war, but it's not winning it. So I 416 00:32:14.130 --> 00:32:17.410 think they're right. I think the others are wrong. Tucker 417 00:32:17.430 --> 00:32:21.079 Carlson on Wednesday seconds into his show, quote, well, that 418 00:32:21.099 --> 00:32:28.140 was a disaster. You know, this may be what we deserve, 419 00:32:28.180 --> 00:32:31.259 but it's definitely what the Republican Party deserves. This may 420 00:32:31.359 --> 00:32:33.480 not be what we deserve. It's definitely what the Republican 421 00:32:33.519 --> 00:32:41.990 Party deserves. Finally, I agree with Tucker Carlson. Anyway, so, 422 00:32:42.950 --> 00:32:49.490 the war, right? Also in this camp is Matt Walsh. 423 00:32:50.190 --> 00:32:52.359 In a popular and pointless war, he said the Republican 424 00:32:52.380 --> 00:32:57.279 Party needs all new leadership. Ann Coulter, Tudor Dixon, Megyn Kelly. 425 00:32:57.559 --> 00:33:01.910 Megyn Kelly blames Mark Levin. and people like General Jack 426 00:33:01.990 --> 00:33:05.069 Keane as neocons who pushed it. The Republican Party is 427 00:33:05.130 --> 00:33:07.190 in ruins, and maybe it needed to be because of 428

00:33:07.230 --> 00:33:11.490 the war. Marjorie Taylor Greene, quote, a total referendum on Trump, 429 00:33:11.609 --> 00:33:15.779 a ridiculous war with Iran. Sohab Amari at Unheard, it's 430 00:33:15.819 --> 00:33:25.000 the war, stupid. It's not the war. But I told you, 431 00:33:25.640 --> 00:33:29.220 you know, I said maybe the Republican Party would reform 432 00:33:29.950 --> 00:33:33.079 Maybe the Republican Party gets better. Maybe the Republican Party 433 00:33:33.119 --> 00:33:35.980 learns its lesson. If this is the lesson it learns 434 00:33:37.059 --> 00:33:41.279 from J.D. Vance, then we've all lost because then there's 435 00:33:41.299 --> 00:33:43.359 an alternative. Then the Republican Party is just as bad 436 00:33:43.380 --> 00:33:45.799 as the Democrats and they continue on the path that 437 00:33:45.819 --> 00:33:53.079 Trump put them on. So that is just, that would 438 00:33:53.099 --> 00:33:57.839 be a disaster. If J.D. Vance wins this, it's a disaster. 439 00:33:57.880 --> 00:34:01.240 Now I think what's happened now is that it's made 440 00:34:01.279 --> 00:34:07.900 the midterms wide open. It's made the presidential primaries for 441 00:34:08.400 --> 00:34:12.679 Republican nominee for president in 2028. It's left them wide open. 442 00:34:13.860 --> 00:34:17.050 I think the probability J.D. Vance gets it has gone down. 443 00:34:19.210 --> 00:34:22.489 Even Marco Rubio is now ruling out running for the 444 00:34:22.530 --> 00:34:24.369 first time. In the past, he'd always ruled it out. 445 00:34:25.610 --> 00:34:28.639 I think others are going to try. I think it's 446 00:34:28.659 --> 00:34:33.230 much more wide open now than before this midterm. By 447 00:34:33.289 --> 00:34:38.869 repudiating the Trump administration and by Vance going all in 448 00:34:38.909 --> 00:34:47.380 on the anti-war kind of, you know, nationalism, kind of 449 00:34:47.420 --> 00:34:53.989 his nationalistic agenda, I think he's weakening his case. Second camp. 450 00:34:56.710 --> 00:35:00.519 The second camp has this view. It's Trump, and it's everything. 451 00:35:02.480 --> 00:35:06.780 Ben Shapiro, election night on the All In podcast. It's 452 00:35:06.820 --> 00:35:10.260 a wipeout for Republicans. The president was kind of on 453 00:35:10.300 --> 00:35:13.619 the ballot. I agree with Ben. And then on his 454 00:35:13.760 --> 00:35:17.730 own show, quote, this midterm election was a repudiation of 455 00:35:17.789 --> 00:35:27.099 President Trump, period, end of story. Finally, right? I told you, Ben, 456 00:35:27.219 --> 00:35:30.199 in 2016, this was going to be a mistake. This 457 00:35:30.260 --> 00:35:33.710 was going to be a disaster. If only they'd listen 458 00:35:33.730 --> 00:35:37.389 to me, you know. People like Ben Shapiro defend Trump 459 00:35:38.869 --> 00:35:55.800 even to the end. Let's see. You know, Ben Shapiro 460 00:35:55.940 --> 00:36:00.260 uses Trump's approval rating, which fell from 52% election night 461 00:36:00.300 --> 00:36:02.610 to 38.3%, which is about as low as it gets. 462 00:36:03.449 --> 00:36:06.789 The sharpest drop happened not during the war, not when 463 00:36:06.809 --> 00:36:10.510 the war was announced. Sharpest drop happened early on in 464 00:36:10.550 --> 00:36:16.230 the administration on Liberation Day, which Ben Shapiro correctly calls 465 00:36:16.349 --> 00:36:24.440 a disaster. On a generic ballot, Democrats were leading by 466 00:36:24.500 --> 00:36:32.519 five points by that April. So, you know, this is 467 00:36:32.559 --> 00:36:37.429 not about the war. It's about, partially it's about overall 468 00:36:37.469 --> 00:36:41.610 impression of the president, not even on any particular policy, 469 00:36:42.909 --> 00:36:52.190 on any particular war, anything like that. They didn't like Trump. Chaos. 470 00:36:52.679 --> 00:36:58.389 Corruption and affordability. And the two most cited reasons for 471 00:36:58.429 --> 00:37:02.030 the way people voted were affordability, cost of living, inflation 472 00:37:02.070 --> 00:37:07.329 in other words, and corruption. And then on top of that, 473 00:37:08.909 --> 00:37:14.420 I don't think this was definitive, but it added, certainly 474 00:37:14.440 --> 00:37:19.860 in a place like Texas, quality of candidates. And in Georgia, 475 00:37:20.320 --> 00:37:22.920 and lots of places where Republicans should have won, They 476 00:37:22.960 --> 00:37:26.829 didn't because they had poor candidates. And these are candidates 477 00:37:27.030 --> 00:37:34.090 that were chosen by Trump. All right, let's see. Ellie 478 00:37:34.130 --> 00:37:38.559 Lake in the Free Press says how Trump blew it. Quote, 479 00:37:38.579 --> 00:37:42.000 broken campaign promises, a fractured coalition, and a president who 480 00:37:42.079 --> 00:37:46.099 pries loyalty over competence in both politics and governance. Verdict, 481 00:37:46.360 --> 00:37:49.929 the Trump era is all but over. I wish. Ted 482 00:37:49.989 --> 00:37:58.250 Cruz says a, quote, Watergate-level repudiation. He says it's tariffs, 483 00:37:58.300 --> 00:38:02.429 the war, and an economic disconnect tied to data centers 484 00:38:02.469 --> 00:38:07.659 and electricity bills. It's blamed on data centers. Tom Tillis, 485 00:38:08.360 --> 00:38:12.300 Vance's account is oversimplified. The war is one of the 486 00:38:12.360 --> 00:38:16.619 several factors with immigration enforcement and tariffs. I'm glad somebody 487 00:38:16.699 --> 00:38:21.320 is mentioning immigration enforcement. Don Bacon, it's the tariffs. We 488 00:38:21.360 --> 00:38:25.230 should have never defended them. DeSantis, a rebuke of the 489 00:38:25.329 --> 00:38:30.210 president and of Congress. Good for DeSantis. Glenn Beck, quote, 490 00:38:30.269 --> 00:38:34.030 Republicans lost because they stood for nothing. No, it's because 491 00:38:34.050 --> 00:38:41.139 they stood for bad stuff. According to Beck, Paxton, quote, 492 00:38:41.179 --> 00:38:43.880 ran

the worst campaign I've ever seen. I don't know 493 00:38:44.579 --> 00:38:50.829 what he's measuring, right? The biggest factor, according to exit surveys, 494 00:38:51.090 --> 00:38:57.590 was cost of living. And so the biggest, single most 495 00:38:57.630 --> 00:39:01.570 important issue was the economy. Foreign policy didn't weigh much 496 00:39:01.630 --> 00:39:04.639 on voters. Only 4% listed it as an important factor. 497 00:39:04.639 --> 00:39:12.599 65% of voters say Trump's policies made the economy worse. 498 00:39:12.599 --> 00:39:16.519 62% held him responsible for prices. So the war mattered 499 00:39:16.559 --> 00:39:18.510 in terms of gas prices. By the way, if he'd 500 00:39:18.550 --> 00:39:27.590 won the war, gas prices wouldn't be this high. Yeah, 501 00:39:28.030 --> 00:39:31.679 I mean, everybody expected to lose according to sources in 502 00:39:31.699 --> 00:39:33.860 the White House but nobody thought it would be this 503 00:39:33.900 --> 00:39:41.300 bad Victor Davis Hanson writes that it was coming anyway 504 00:39:41.639 --> 00:39:49.530 right five you know what is lessons from this here's 505 00:39:49.610 --> 00:39:54.829 from the Free Press summary. Midterm losses are normal. Always 506 00:39:54.869 --> 00:39:59.030 lose in the midterm. Clinton lost 54 House seats in 1994. 507 00:39:59.030 --> 00:40:04.480 Obama 63 in 2010. Both squandered huge inaugural congressional advantage. 508 00:40:04.559 --> 00:40:13.280 Both rebounded to 73 and 59% approval ultimately. 2026 is 509 00:40:13.340 --> 00:40:22.139 no exception. Midterm losses are the standard. That's reason number one. Second, 510 00:40:22.340 --> 00:40:24.639 Trump is less constrained than he looks, than it looks. 511 00:40:27.510 --> 00:40:30.150 You know, Victor Davis Hanson says it won't affect his 512 00:40:30.170 --> 00:40:33.449 foreign policy one iota. He says the real cost is 513 00:40:33.510 --> 00:40:37.250 ability to confirm judges and appointees. That he can't do anymore. 514 00:40:38.969 --> 00:40:44.130 Impeachment is expected in the House. It's performative virtue signaling. 515 00:40:44.949 --> 00:40:53.039 There'll be no conviction. just like in the past. According 516 00:40:53.059 --> 00:40:56.260 to Victor Davis Hanson, the economy was genuinely improving, but 517 00:40:56.300 --> 00:41:00.880 the administration failed to communicate its accomplishments. Really, it's a 518 00:41:00.920 --> 00:41:05.159 communication problem. That's what it is. The Iran war is 519 00:41:05.179 --> 00:41:08.929 handling frustrated voters. No kidding. On again, off again, on again, 520 00:41:09.010 --> 00:41:11.849 off again. Deal, no deal, deal, no deal. But that's 521 00:41:11.889 --> 00:41:24.079 all in the compromise. Anyway, it's pretty bad. Then if 522 00:41:24.099 --> 00:41:28.940 you look at another camp, separate camp, what caused this? 523 00:41:29.199 --> 00:41:31.880 It's the new right caused it. The new right failed 524 00:41:31.920 --> 00:41:37.610 in its own terms. This is Ross Douthat. The new 525 00:41:37.659 --> 00:41:40.730 right deserves its share. It set out to shape the 526 00:41:40.769 --> 00:41:45.230 second term around border security, American industry, and restraint abroad. Instead, 527 00:41:45.269 --> 00:41:48.719 it overreached on deportation. Delivered data centers instead of factories 528 00:41:49.230 --> 00:41:51.690 and couldn't stop the war in Iran. You see, they 529 00:41:51.750 --> 00:41:54.730 mix up issues, right? I think they overreached some deportation. 530 00:41:55.150 --> 00:41:58.840 Delivered data centers instead of factories? Is that a bad thing? 531 00:41:59.760 --> 00:42:04.380 Factories are the past. Data centers are the future. And 532 00:42:04.420 --> 00:42:16.860 instead of defending data centers, Republicans caved. Grandeur, again, says, 533 00:42:17.760 --> 00:42:20.039 he says, the fix is to make enemies to the right. 534 00:42:21.159 --> 00:42:26.570 He wants Fuentes and Gruypers out. We'll see. I doubt 535 00:42:26.829 --> 00:42:33.230 that he wins that battle, at least until the Republican primaries, 536 00:42:33.449 --> 00:42:38.210 in which you'll have the new right backing Vance, and. 537 00:42:38.409 --> 00:42:41.099 We'll see where everybody else goes. 538 00:42:42.460 --> 00:42:45.730 And then there's the camp. The Steve Bannon camp, the 539 00:42:45.750 --> 00:42:52.679 Nick Fuentes camp. It's the Jews. It's the Jews. Steve 540 00:42:52.699 --> 00:42:57.679 Bannon called it in advance. You know, he said that 541 00:42:58.119 --> 00:43:00.400 the party would be engulfed in a civil war the 542 00:43:00.440 --> 00:43:04.119 day after the midterms. A MAGA against the traditional party 543 00:43:04.389 --> 00:43:08.849 with monster battles in the lame duck over the debt 544 00:43:08.889 --> 00:43:16.409 ceiling spending in AI. I think that's right. And, you know, 545 00:43:21.869 --> 00:43:27.030 I'm just reading from his thing. So, you know, it's Israel, 546 00:43:27.710 --> 00:43:29.900 it's the war, and this is going to cause a 547 00:43:29.929 --> 00:43:36.400 massive inside war within the Republicans. You know, Fuentes, Republican Party, 548 00:43:36.460 --> 00:43:38.440 took us to war in Iran on behalf of Israel, 549 00:43:39.260 --> 00:43:42.400 removed Zionists like Barry Weiss, Shapiro, and Levin from the GOP, 550 00:43:43.050 --> 00:43:50.539 exclude dual loyal Jews, and, yep, this is exactly what happens. 551 00:43:51.860 --> 00:43:56.300 It's Israel and the Jews. Matt Goetz, Shapiro and Levin 552 00:43:56.320 --> 00:43:58.659 are either complete idiots or so loyal to Israel they 553 00:43:58.699 --> 00:44:02.739 accept losing American elections. Dave Smith, Trump launched a war 554 00:44:02.780 --> 00:44:06.639 on behalf of Netanyahu, Alex Jones, this is Mark Levin 555 00:44:06.679 --> 00:44:10.820 and Israel's fault, Marjorie Taylor Greene again, Levin, Shapiro, and Luma, 556 00:44:11.199 --> 00:44:14.599 Other voices

to ostracize, reject, kick out of our movement. 557 00:44:15.280 --> 00:44:18.519 And it goes on and on and on. Piers Morgan, 558 00:44:19.019 --> 00:44:31.369 of all people. Levin and Shapiro are warmongers. Here's the thing. 559 00:44:32.789 --> 00:44:37.739 It's Trump. It always was Trump. Trump's policies are awful. 560 00:44:38.400 --> 00:44:43.099 Trump's policies are anti-Americans. And enough Americans got it. They 561 00:44:43.280 --> 00:44:49.170 thought he would be, you know, restrained by, like he 562 00:44:49.210 --> 00:44:52.570 was in his first term, by saying the voices. And 563 00:44:52.650 --> 00:44:55.610 as I told you what happened, he wasn't restrained at all. 564 00:44:56.150 --> 00:44:59.320 Nobody restrained him. In his first term, he was restrained 565 00:45:00.280 --> 00:45:03.820 to some extent. He still was an awful president, but 566 00:45:03.840 --> 00:45:07.500 he was somewhat restrained. In his second term, He had 567 00:45:07.739 --> 00:45:10.119 only yes-men around him because he didn't like being restrained 568 00:45:10.159 --> 00:45:15.460 in the first term. And the consequences are disastrous. And 569 00:45:15.480 --> 00:45:24.159 the consequences to the Republican Party are almost a wipeout. So, tariffs. 570 00:45:24.900 --> 00:45:30.679 Huge part of this. A lost or unwon half-fought war. 571 00:45:31.260 --> 00:45:37.550 Huge part of this. Ice. You know, cruelty. And theatrics. 572 00:45:40.309 --> 00:45:42.650 I don't know how many people cared about the 41 573 00:45:42.650 --> 00:45:48.329 equity stakes in American businesses. Just his attitude is the 574 00:45:48.389 --> 00:45:51.659 stuff he writes in True Social, the way he talks 575 00:45:51.719 --> 00:45:54.380 about people he doesn't like, the way he celebrates the 576 00:45:54.480 --> 00:45:59.900 deaths of his opponents, the way he threatened the Fed 577 00:45:59.980 --> 00:46:05.409 for months and months and months. The corruption. The cronyism. 578 00:46:06.599 --> 00:46:08.400 People are sick of it. He was going to drain 579 00:46:08.420 --> 00:46:11.590 the swamp, remember? And he's created a bigger swamp with 580 00:46:11.659 --> 00:46:24.329 bigger swamp animals. That's it. Now, midterm losses are normal. 581 00:46:24.969 --> 00:46:30.679 What happened in the Senate is not normal. Republicans losing Texas, Georgia, 582 00:46:31.010 --> 00:46:36.369 North Carolina, South Carolina, Ohio, and Kansas is not under 583 00:46:36.570 --> 00:46:48.739 any circumstances, normal. But what happens now? Who wins the 584 00:46:48.800 --> 00:46:53.099 internal battle within the Republican Party? Whose explanation of what 585 00:46:53.159 --> 00:46:57.409 happened wins out? Who as a consequence rises, who falls? 586 00:46:58.690 --> 00:47:01.969 To what extent is this blame Israel, blame the Jews 587 00:47:02.469 --> 00:47:07.599 rhetoric going to sustain itself? to what extent does this 588 00:47:07.639 --> 00:47:13.389 split the Republican Party? I mean, within 48 hours of 589 00:47:13.469 --> 00:47:18.530 losing the election, a bunch of these right-wingers reached to 590 00:47:18.550 --> 00:47:23.150 the explanation that, you know, has explained defeat over and 591 00:47:23.210 --> 00:47:33.110 over again for 2,000 years. The Jews did it. I mean, 592 00:47:35.019 --> 00:47:37.000 How does this play out in the Republican Party as 593 00:47:37.039 --> 00:47:40.909 we move forward? I don't know. I don't know. But 594 00:47:40.929 --> 00:47:45.409 the Republican Party needs to clean house. Do they have 595 00:47:45.429 --> 00:47:49.469 the courage and the resources to do it? There is 596 00:47:49.510 --> 00:47:52.710 a civil war going on. Are the good guys going 597 00:47:52.730 --> 00:48:03.000 to win? Who are the good guys? So, yeah. Yeah. 598 00:48:03.570 --> 00:48:07.530 It's a mess. The Republican Party is officially a complete 599 00:48:07.570 --> 00:48:12.000 and utter disaster zone and a complete and utter mess. But, 600 00:48:12.360 --> 00:48:16.780 you know, you can't say I didn't warn you. You 601 00:48:16.820 --> 00:48:20.539 can't say I didn't say it. Because, yeah, I told 602 00:48:20.579 --> 00:48:24.079 you so. I told you so. I told you when 603 00:48:24.099 --> 00:48:26.159 he was elected in 2024 it would be a disaster. 604 00:48:26.579 --> 00:48:32.570 I told you when he was elected in 2024... about 605 00:48:32.590 --> 00:48:35.750 the chaos and the corruption and the disaster that was 606 00:48:35.789 --> 00:48:38.289 going to implode. And I told you this would strengthen 607 00:48:38.510 --> 00:48:45.230 the left, the far left. And it has. All right, 608 00:48:45.269 --> 00:48:47.510 let me just look at what's going on here in 609 00:48:47.530 --> 00:48:54.000 the chat. All right, I'll just mention very few questions. 610 00:48:54.659 --> 00:48:58.119 Very little support today. Don't know what's happening. Maybe you're 611 00:48:58.139 --> 00:49:00.980 upset at me for losing the Republicans in the election. 612 00:49:01.619 --> 00:49:04.619 I didn't do it. It wasn't my fault. You know, 613 00:49:04.639 --> 00:49:07.659 I think it's the right result. I think the repudiation 614 00:49:07.679 --> 00:49:11.489 of Trump needed to happen. I think that the only 615 00:49:11.590 --> 00:49:15.250 chance we have is a Republican Party that actually stands 616 00:49:15.329 --> 00:49:18.530 for something good, or at least in theory, even if 617 00:49:18.590 --> 00:49:30.340 not in practice. This Republican Party is a disaster. So 618 00:49:30.880 --> 00:49:34.710 the only hope we have is that the Republican Party 619 00:49:34.750 --> 00:49:38.110 gets shaken up and something better comes out the other side. 620 00:49:38.889 --> 00:49:44.230 No guarantee that'll happen. But if Republicans had not gotten 621 00:49:44.269 --> 00:49:49.710 a shellacking on Tuesday, clearly it wouldn't have happened. Trump 622 00:49:49.730 --> 00:49:54.389 would have been vindicated. And their behavior, their

tribalistic behavior 623 00:49:54.429 --> 00:49:57.860 vis-a-vis Trump would have been vindicated. So this is a 624 00:49:59.920 --> 00:50:04.079 meager hope that this will shake up the Republican Party 625 00:50:04.099 --> 00:50:06.579 and turn it into a better party. And the consequence 626 00:50:06.639 --> 00:50:08.860 of that will be that down the road we'll get 627 00:50:08.900 --> 00:50:15.050 something better. And look, Democrats winning is a disaster. It's horrible. 628 00:50:16.739 --> 00:50:20.579 It means that our economic rights, whatever's left of them, 629 00:50:21.480 --> 00:50:26.880 are going to be stomped on. It means higher taxes. 630 00:50:27.719 --> 00:50:32.679 It means more spending. It means faster road to bankruptcy 631 00:50:32.699 --> 00:50:38.449 for this country. It means... you know, more and more 632 00:50:38.469 --> 00:50:41.750 attempts at billionaire taxes and wealth taxes and stuff like that. Although, 633 00:50:42.530 --> 00:50:44.130 the good news, there's some good news out of this 634 00:50:44.190 --> 00:50:50.250 election beyond just the shellacking of the Republicans. Proposition 40, 635 00:50:50.250 --> 00:50:56.630 the billionaire tax in California, which would have been a one-time, yeah, wait, 636 00:50:56.630 --> 00:50:59.969 5% tax on the net worth of the state's 200 billionaires. 637 00:51:00.760 --> 00:51:06.750 It includes stocks, private businesses, everything they own. Um, It 638 00:51:06.789 --> 00:51:11.869 was supposed to raise $ 100 billion for health care. But 639 00:51:12.949 --> 00:51:16.039 it looks like it's failing. It hasn't been called yet, 640 00:51:16.579 --> 00:51:21.280 but right now it's 56% no, with 54% of the 641 00:51:21.320 --> 00:51:30.219 vote counted. Now, the union that actually put this forward 642 00:51:30.699 --> 00:51:36.289 has already conceded. They promised to redo it for 2028. 643 00:51:38.210 --> 00:51:42.409 the opposition to the bill spent $ 360 million trying to 644 00:51:42.449 --> 00:51:45.090 convince Californians to vote. 645 00:51:46.530 --> 00:51:46.769 No. 646 00:51:46.769 --> 00:51:49.739 $ 102 million just from Sege Brin, one of the founders 647 00:51:49.780 --> 00:51:55.039 of Google. Newsom, to his credit, opposed it. And it 648 00:51:56.340 --> 00:52:01.619 looks like it failed. Proposition 42, which is also an 649 00:52:01.659 --> 00:52:06.920 interesting proposition in California. Proposition 42 bans wealth taxes. on 650 00:52:07.000 --> 00:52:13.320 financial assets, private businesses, and pensions, and bans all retroactive taxes. 651 00:52:13.420 --> 00:52:18.690 California is famous for passing retroactive taxes. That proposition, it 652 00:52:18.769 --> 00:52:22.230 bans wealth taxes, leads by 55%. If 42 wins, and 653 00:52:22.230 --> 00:52:30.730 40 wins, 40 is voided anyway. 42 would overrule 40. 654 00:52:38.739 --> 00:52:44.889 So this is good news. I mean, not everything that 655 00:52:44.909 --> 00:52:48.570 California voted on is good

news. They made the millionaire 656 00:52:48.610 --> 00:52:52.989 tax in California permanent. They didn't pass other things that 657 00:52:53.010 --> 00:52:55.949 would have been good. But this, Proposition 40 and 42 658 00:52:55.949 --> 00:52:59.380 are very good in that they reject the idea of 659 00:52:59.400 --> 00:53:03.519 wealth taxes. Hopefully, that is a message to Democrats. If 660 00:53:03.559 --> 00:53:07.369 in a state like California, they can't pass this, then 661 00:53:08.070 --> 00:53:10.809 maybe they should not try it anywhere else on a 662 00:53:10.849 --> 00:53:19.909 national scale. Now Washington State went the other way. There 663 00:53:19.949 --> 00:53:25.000 was an amendment to repeal the scheduled income tax on 664 00:53:25.019 --> 00:53:29.360 earnings over $ 1 million. That failed. That failed. So voters 665 00:53:29.420 --> 00:53:37.019 kept the tax. In Florida, Amendment 3, Homeowner Property Tax Cut. 666 00:53:37.889 --> 00:53:43.769 Passed overwhelmingly. So a lot of Floridian homeowners will not 667 00:53:44.050 --> 00:53:50.619 be paying property taxes. Let's see, in Tennessee, a constitutional 668 00:53:50.699 --> 00:53:54.460 ban on state property taxes passed. So in Tennessee, we 669 00:53:54.480 --> 00:54:00.320 now have a ban on state property taxes. In North Carolina, 670 00:54:01.260 --> 00:54:08.590 an income tax cap at 3.5% passed. In Arizona, Proposition 671 00:54:08.590 --> 00:54:14.460 316 bars cities from raising grocery taxes until 2027. That passed. 672 00:54:15.360 --> 00:54:22.119 Utah Amendment B failed. I guess a 60% superiority for 673 00:54:22.159 --> 00:54:27.039 certain tax changes failed. So they voted no on that. 674 00:54:27.079 --> 00:54:31.719 That's too bad. So most of the anti-tax stuff passed. 675 00:54:31.900 --> 00:54:35.780 Not all of it, and it depends, but a lot 676 00:54:35.800 --> 00:54:40.500 of it passed, so that's good. Let's see. Other stuff. 677 00:54:40.519 --> 00:54:48.829 We got a lot of voter ID passed. As I said, the... 678 00:54:48.510 --> 00:54:54.050 What do you call it? The abortion stuff. Yeah, abortion. 679 00:54:54.909 --> 00:54:58.809 Missouri Amendment 3, the legislature's attempt to repeal the 2024 680 00:54:58.809 --> 00:55:04.110 Abortion Rights Amendment. That failed. That's good. So abortion rights 681 00:55:04.170 --> 00:55:08.239 are preserved in Missouri, another red state. In Nevada... Abortion 682 00:55:08.300 --> 00:55:16.159 rights to viability, abortion rights up until viability, passed 60-plus. 683 00:55:18.519 --> 00:55:26.619 Constitutional productive freedom also passed. The only anti-abortion stuff that 684 00:55:26.659 --> 00:55:31.610 passed was in Idaho. It would have established abortion rights 685 00:55:33.969 --> 00:55:37.889 against the 2022 ban at the state level. That failed, unfortunately. 686 00:55:42.900 --> 00:55:46.340 And then on data centers, restrictions passed in 38 jurisdictions 687 00:55:46.880 --> 00:55:53.789 across

10 states. So these are more local elections. But yeah, 688 00:55:53.829 --> 00:55:57.050 how about in Ohio? They banned them at all sizes. 689 00:55:58.050 --> 00:56:00.849 Some of them had different size requirements and so on. 690 00:56:02.449 --> 00:56:07.079 Sex and sports. Measures restricting school sports to biological sex 691 00:56:07.139 --> 00:56:12.119 passed in Colorado, Arizona, Nebraska, and Washington. Washington. Washington state. 692 00:56:12.699 --> 00:56:16.780 about as liberal as it gets. Colorado also banned surgeries 693 00:56:16.840 --> 00:56:20.840 under 18 to alter sex characteristics. Again, Colorado is a 694 00:56:20.860 --> 00:56:26.900 blue state. Virginia repealed its same-sex marriage ban. That's good, right? 695 00:56:28.079 --> 00:56:35.820 Vermont added orientation and gender identity to equal protection. Here's 696 00:56:35.860 --> 00:56:39.829 a bad one. Alabama, four amendments passed, including daily pledge 697 00:56:40.030 --> 00:56:44.590 of allegiance, weekly national anthem, And a student-led prayer in school. 698 00:56:45.789 --> 00:56:52.510 All passed. All of them have an opt-out provision. So 699 00:56:52.670 --> 00:56:58.900 not as bad as they might have been. All right. 700 00:57:00.000 --> 00:57:02.699 So you get a sense, a mixed bag. The country's 701 00:57:02.739 --> 00:57:09.750 a very mixed bag. I mean, overall, Republicans fired Republicans. 702 00:57:11.630 --> 00:57:21.260 But did not pass, tax the billionaires. So, Democrats didn't 703 00:57:21.300 --> 00:57:24.940 get everything they wanted. And I think that was probably 704 00:57:24.960 --> 00:57:28.489 the most important ballot out there, other than, yeah, it 705 00:57:28.510 --> 00:57:30.670 was the most important ballot initiative out there because it 706 00:57:30.730 --> 00:57:40.400 sends a signal to Democrats. The You know, voters did move, 707 00:57:40.579 --> 00:57:42.440 if you will, left. I don't think it counts left, 708 00:57:42.500 --> 00:57:45.389 but on abortion rights in Missouri and Nevada, on marriage 709 00:57:45.429 --> 00:57:54.030 in Virginia, voting rights after prison, marijuana is legal in Massachusetts. 710 00:57:58.260 --> 00:58:03.800 So again, what does it mean? Let me just see 711 00:58:03.900 --> 00:58:08.690 if there was anything else here. All right, finally, I mean, 712 00:58:08.710 --> 00:58:11.449 there's some, the real bad news, the real bad news 713 00:58:12.809 --> 00:58:15.699 is the kind of people who got elected on the 714 00:58:15.739 --> 00:58:23.300 Democratic side. Abdullah al-Sayyad won Michigan by 7%. Abdullah al-Sayyad 715 00:58:23.340 --> 00:58:26.880 is now a U.S. state senator. Now, a lot of 716 00:58:26.920 --> 00:58:29.980 people will emphasize the fact that he's the first Muslim U.S. 717 00:58:30.000 --> 00:58:30.480 Senator. 718 00:58:31.159 --> 00:58:33.739 I don't think that's that important. What's really important is 719 00:58:33.760 --> 00:58:36.829 that he's the first elected

on a Democratic Socialist of 720 00:58:36.889 --> 00:58:40.750 America line. And this is a swing state. This is 721 00:58:40.809 --> 00:58:45.610 not an overwhelmingly blue Democratic state. Michigan's still a swing state. 722 00:58:46.590 --> 00:58:50.010 A lot of Democrats were upset by Abdullah Syed, and 723 00:58:50.050 --> 00:58:56.280 yet he won. At his Detroit victory party, Free Palestine 724 00:58:56.840 --> 00:59:00.260 was the thing that people were chanting. Think about that. 725 00:59:01.280 --> 00:59:06.420 Here's a U.S. Senator winning in Michigan on A pro-Palestinian thing? 726 00:59:06.440 --> 00:59:09.269 I mean, that's the issue of the day? We have 727 00:59:09.289 --> 00:59:15.179 to defend the Palestinians? I mean, his supporters named gas prices, 728 00:59:15.679 --> 00:59:19.480 anti-Muslim rhetoric, and the Palestinian cause is what drove them 729 00:59:19.519 --> 00:59:23.780 to the polls. Are there that many people in Michigan 730 00:59:24.059 --> 00:59:31.070 who care about the Palestinians? Maybe the Arab community but 731 00:59:31.110 --> 00:59:37.269 it's not that big. It's not that big. In addition 732 00:59:37.309 --> 00:59:42.179 to El Sayyad, you know, three Mamdani-backed House candidates, one 733 00:59:42.300 --> 00:59:47.280 big in New York, and a guy named Adam Hamawi, 734 00:59:47.900 --> 00:59:52.079 who testified for the defense of the 1993 World Trade 735 00:59:52.099 --> 00:59:57.079 Center bombings, mastermind, defense of the mastermind. He won a 736 00:59:57.099 --> 01:00:00.460 New Jersey seat with 70% of the vote. It was 737 01:00:00.500 --> 01:00:15.670 a wipeout. So the anti-Israel wins in the Democratic, anti-Israel wing, 738 01:00:15.969 --> 01:00:21.389 you know, the real, not just anti-Israel, the pro-Palestinian, pro-Hammaz 739 01:00:22.010 --> 01:00:25.889 wing of the Democratic Party won big. Now, a lot 740 01:00:25.909 --> 01:00:31.230 of the big Senate campaigns and big Senate votes You know, 741 01:00:31.269 --> 01:00:35.030 moderate Democrats and not Abdullah Syed, you know, whether it's 742 01:00:35.289 --> 01:00:39.139 Cooper in North Carolina or the person who won in 743 01:00:39.159 --> 01:00:46.059 South Carolina or Sherrod in Ohio, these are not far-left 744 01:00:46.079 --> 01:00:48.320 Democratic Socialists of America. But the fact that we have 745 01:00:48.340 --> 01:00:52.420 a Democratic Socialist of America senator should upset you. This 746 01:00:52.480 --> 01:00:55.199 is not good. And the fact that Israel plays such 747 01:00:55.219 --> 01:01:05.300 a big role is absurd. All right, let's see. Yeah, 748 01:01:05.360 --> 01:01:07.539 I mean, there's going to be a battle within the 749 01:01:07.559 --> 01:01:11.889 Democratic Party. We talked about the war within the Republican Party, 750 01:01:11.929 --> 01:01:14.289 civil war within the Republican Party. There's going to be 751 01:01:14.309 --> 01:01:17.510 a civil war within the Democratic Party. I mean, to 752 01:01:17.530 --> 01:01:19.769 what extent did the Democratic Party want to make its 753 01:01:19.849 --> 01:01:30.199 identity a pro-Palestinian, anti-Jew, anti-Israel platform? It's going to be 754 01:01:30.239 --> 01:01:34.269 interesting to watch. if that's their identity. A lot of 755 01:01:34.289 --> 01:01:36.429 the other people in the Democratic Party wants to make 756 01:01:36.489 --> 01:01:44.739 their identity anti-billionaires. We'll see. And then the more moderates 757 01:01:44.780 --> 01:01:47.760 who want a Democratic Party of the past, they're probably, 758 01:01:49.139 --> 01:01:54.000 you know, they're the majority, but whether they win, you know, no. 759 01:01:54.019 --> 01:01:59.239 The more radical, more principled, more consistent party usually wins. 760 01:02:01.449 --> 01:02:04.909 So we'll see. We'll see what the Democrats view their 761 01:02:04.969 --> 01:02:09.070 mandate as, whether it's to free Palestine or whether it's 762 01:02:09.349 --> 01:02:15.550 to do something else, is hard to tell. All right, 763 01:02:15.800 --> 01:02:17.780 let's talk a little bit about the markets and how 764 01:02:17.820 --> 01:02:22.000 they responded to all this. I mean, immediately after the election, 765 01:02:22.639 --> 01:02:27.320 markets were all up quite a bit. But then they 766 01:02:27.500 --> 01:02:32.460 all went down, and... almost all of the down move 767 01:02:32.659 --> 01:02:37.139 by the markets was in tech stocks associated with AI. 768 01:02:38.960 --> 01:02:42.239 And basically one thing came across loud and clear from 769 01:02:42.260 --> 01:02:45.320 this election, and that is the common hostility of the 770 01:02:45.360 --> 01:02:50.090 American people to data centers. In other words, to the 771 01:02:50.210 --> 01:02:55.570 infrastructure that will make AI a meaningful technology that will 772 01:02:55.610 --> 01:03:03.280 change the world. AI stocks tumbled. including NVIDIA and others. And, 773 01:03:03.300 --> 01:03:06.260 you know, it's hard to tell where you go from here. Like, 774 01:03:06.739 --> 01:03:09.510 the only people defending data centers right now are Donald Trump, 775 01:03:09.929 --> 01:03:12.699 and Donald Trump's just being repudiated by the American public, 776 01:03:13.449 --> 01:03:17.889 by the American voters. The Democratic Party is clearly anti. 777 01:03:18.809 --> 01:03:24.730 Most of the Republican Party is anti. So we will see. 778 01:03:27.969 --> 01:03:33.619 What's interesting is the 10-year bond has gone down, I think, 779 01:03:33.699 --> 01:03:36.179 but I think this is false. I think the bond 780 01:03:36.219 --> 01:03:39.699 market thinks that two things are going to happen. One, 781 01:03:39.739 --> 01:03:41.860 interest rates are going to come up in the next 782 01:03:41.900 --> 01:03:53.170 meeting of the Fed. Two, I think that the bond 783 01:03:53.210 --> 01:03:57.070 market believes that a divided government will put a brake 784 01:03:57.110 --> 01:04:01.949 on

spending. That doesn't usually happen when it's a Republican 785 01:04:02.010 --> 01:04:07.800 president and a House and Senate that's Democratic. The break 786 01:04:07.840 --> 01:04:10.980 in spending only happens when it's a Democratic president and 787 01:04:11.000 --> 01:04:14.579 a Republican House and Senate. I've told you this for 788 01:04:14.579 --> 01:04:18.300 15 years now, since I had a show. The best 789 01:04:18.340 --> 01:04:21.969 combination for government spending, which I think is a direct 790 01:04:22.030 --> 01:04:26.550 proxy for economic liberty, is a Democratic president and a 791 01:04:26.610 --> 01:04:33.349 Republican House and Senate. This combination of a Democratic House 792 01:04:33.710 --> 01:04:37.349 and particularly with this Republican president, I think you're going 793 01:04:37.369 --> 01:04:42.199 to see deals cut between Trump and the Democrats that 794 01:04:42.320 --> 01:04:46.840 are going to increase spending and increase some taxes. That's 795 01:04:46.880 --> 01:04:49.179 what I expect. You know, Trump to get what he wants, 796 01:04:49.760 --> 01:04:51.619 he will agree for the Democrats to get some of 797 01:04:51.679 --> 01:04:55.659 what they want. And neither what Trump wants nor what 798 01:04:55.679 --> 01:05:02.530 the Democrats want is good for us. All right, let's see. 799 01:05:02.550 --> 01:05:07.909 In the meantime, oil prices are going down. You know, 800 01:05:07.949 --> 01:05:10.349 they were down 15% for the week, the biggest weekly 801 01:05:10.409 --> 01:05:14.199 drop since April of 2020. That's a long... That was 802 01:05:14.260 --> 01:05:16.659 not a good drop. That was a drop in demand. 803 01:05:18.739 --> 01:05:22.219 Maybe because people think now that Trump will not renew 804 01:05:22.260 --> 01:05:24.599 the war and that he'll cut a deal with Iran. 805 01:05:25.320 --> 01:05:31.550 Hard to tell whether that's going to happen or not. Um... Yeah, 806 01:05:31.909 --> 01:05:44.900 so we will see. Again, the markets are down this 807 01:05:44.960 --> 01:05:49.170 week in spite of the rally on Tuesday. I suppose 808 01:05:49.190 --> 01:05:53.250 there's a Qatari draft out there for a deal between 809 01:05:53.269 --> 01:06:00.980 the United States and the West. We'll see. I think 810 01:06:01.019 --> 01:06:05.119 the markets are pretty optimistic about this. There's also a 811 01:06:06.059 --> 01:06:08.579 push to, there's going to be a push to get 812 01:06:08.619 --> 01:06:12.309 rid of Hegseth as part of this, he's responsible for 813 01:06:12.329 --> 01:06:16.530 the war type of thing. He's the sacrificial lamb to 814 01:06:16.889 --> 01:06:22.789 be slaughtered in the name of anti-war. We'll see. Thomas Massey, 815 01:06:22.829 --> 01:06:26.090 who's still in Congress, not for long, but still in Congress, 816 01:06:26.289 --> 01:06:28.949 is going to force a vote on eight impeachment articles. 817 01:06:30.059 --> 01:06:34.050 against Hegseth. This is going to happen when

the House returns. 818 01:06:35.510 --> 01:06:38.710 GOP sources say they expect it to pass. If all 819 01:06:38.750 --> 01:06:40.670 the Democrats vote for it and they get a few 820 01:06:40.690 --> 01:06:45.239 Republicans voting for it, it'll pass. Trump says he has 821 01:06:45.260 --> 01:06:48.500 every intention of keeping him. There are rumors out there 822 01:06:48.519 --> 01:06:55.360 that he's going to appoint DeSantis as his defense secretary. 823 01:06:55.820 --> 01:07:00.800 Who knows? Who knows? In the meantime, Hexist is asking 824 01:07:00.840 --> 01:07:07.150 Congress for $ 300 billion in additional funds. Tillis is saying 825 01:07:07.530 --> 01:07:11.269 Pentagon funding is going to be delayed. Now we've got Democrats. 826 01:07:11.389 --> 01:07:14.750 Democrats are not going to approve big Pentagon numbers starting 827 01:07:14.769 --> 01:07:18.610 in January. So a lot of uncertainty about where defense 828 01:07:18.630 --> 01:07:25.119 spending goes. So we will see. I'd say the oil 829 01:07:25.139 --> 01:07:28.659 prices are a reflection of the market believing the war 830 01:07:28.679 --> 01:07:34.300 is over. and a deal would happen because too many 831 01:07:34.320 --> 01:07:39.329 in the Republican Party view the reason for the loss 832 01:07:39.369 --> 01:07:44.670 being the war. Trump could walk away, lift the blockade, 833 01:07:44.829 --> 01:07:51.079 release funds, have home woes open, and oil prices would drop. 834 01:07:52.639 --> 01:07:56.280 Who knows how he plays that? And UN inspections go 835 01:07:56.460 --> 01:07:59.949 back into, inspectors go back into Iran and somehow Trump 836 01:08:00.010 --> 01:08:04.630 spins it into a, into a victory. Right. 837 01:08:06.050 --> 01:08:06.250 Right. 838 01:08:06.309 --> 01:08:10.969 Let's see. What else do we have? Um, it's a 839 01:08:11.010 --> 01:08:15.449 bunch of, on the jobs and productivity. We'll skip that. Oh, 840 01:08:15.510 --> 01:08:19.130 this is kind of, this is unrelated, unrelated news. Um, 841 01:08:19.789 --> 01:08:24.899 Newsom in California has converted all 548 California death sentences 842 01:08:24.939 --> 01:08:32.779 to life without parole. Um, So, you know, it's not 843 01:08:32.840 --> 01:08:35.960 formally a commute yet, but it looks like that's what 844 01:08:36.000 --> 01:08:40.050 he's going to do. You know, given that California doesn't 845 01:08:40.109 --> 01:08:44.829 execute anyway, it doesn't actually do the executions, it doesn't 846 01:08:44.869 --> 01:08:54.039 really matter, right? Newsom has the executive power to provide clemency. And, 847 01:08:58.149 --> 01:09:02.949 I don't oppose this. And again, California hasn't executed anybody 848 01:09:02.989 --> 01:09:10.819 in a long, long time. Let's see what else. Yeah, okay, 849 01:09:10.880 --> 01:09:14.899 I think we'll call that a night. I'm tired. And 850 01:09:14.960 --> 01:09:18.680 some questions have come in. There'll be plenty to talk 851 01:09:18.720 --> 01:09:20.560

about next week, although I don't know how many shows 852 01:09:20.579 --> 01:09:23.800 we'll have next week. Let's see, did I cover all 853 01:09:23.840 --> 01:09:33.520 the angles I wanted to cover? Immigration crackdown. Yeah, pretty amazing. 854 01:09:36.579 --> 01:09:41.890 For example, South Carolina's new senator, who's a Democrat, is 855 01:09:41.930 --> 01:09:46.829 not just a South Carolina Democrat, it's a pro-choice pediatrician. 856 01:09:47.680 --> 01:09:54.920 So these Southern Democrats who won are not anti-abortion Democrats. 857 01:09:55.619 --> 01:10:02.100 These are pro-abortion Democrats. So abortion rights are more secure 858 01:10:02.159 --> 01:10:09.819 now than since the repeal of Roe v. Wade. You 859 01:10:09.880 --> 01:10:13.539 know that in Texas and in Georgia and in other places, enforcement, 860 01:10:14.199 --> 01:10:17.850 of some of these really bad anti-abortion laws is going 861 01:10:17.859 --> 01:10:24.630 to be lax, even if they can't reverse the law itself. Okay, 862 01:10:25.010 --> 01:10:32.380 that is the news for today, Friday, November 6th. I 863 01:10:32.439 --> 01:10:37.199 am in Mexico City. All right, we're into the second hour. 864 01:10:39.640 --> 01:10:41.779 We've got some super chats, not a lot, but some. 865 01:10:43.020 --> 01:10:45.770 We're still short about $ 180 for a second hour goal. 866 01:10:46.350 --> 01:10:49.710 So please consider $ 9, $ 20 questions would be great. Or 867 01:10:50.069 --> 01:10:52.109 a few people coming in with $ 50 would be amazing. 868 01:10:52.850 --> 01:10:57.119 Stickers are also really, really welcome. A sticker is you 869 01:10:57.159 --> 01:10:58.920 don't have to ask a question. Just support the show. 870 01:10:58.979 --> 01:11:01.600 Trade with me. Value for value. That would be amazing. 871 01:11:02.279 --> 01:11:05.720 Of course, apart from supporting the show live, you could 872 01:11:05.760 --> 01:11:09.659 support the show on Patreon or on PayPal.com. Those are 873 01:11:09.739 --> 01:11:12.380 incredibly valuable because those are predictable and they come in 874 01:11:12.600 --> 01:11:15.649 month after month. So please become a monthly supporter on 875 01:11:15.670 --> 01:11:21.529 Patreon or on PayPal. Exploring Simon, thank you for the 876 01:11:21.529 --> 01:11:25.810 $ 50 sticker. Really, really appreciate that and it helps a lot. 877 01:11:26.880 --> 01:11:33.539 Anthony from Australia, thank you for the sticker. And let's see, 878 01:11:33.619 --> 01:11:42.539 we've got Alan and Jake. Jack, uh, and, uh, Tony, and, uh, Mike, 879 01:11:43.699 --> 01:11:50.479 and who else, who else, Dalmau, Dalmau, thank you, yeah, 880 01:11:50.520 --> 01:11:51.800 thank you guys, thanks. 881 01:11:51.640 --> 01:12:01.770 For the stickers, really, uh, really appreciate it, um, all right, let's, uh, 882 01:12:01.829 --> 01:12:04.670 let's turn to the super chats, and we'll start with Wes. 883 01:12:05.189 --> 01:12:09.329 Um, $ 100. Thank you, Wes. Really, really appreciate that. Wes says, 884 01:12:09.550 --> 01:12:12.970 I've been waiting for this show. Glad to hear you'll 885 01:12:12.989 --> 01:12:17.310 be talking to Ankar about the midterms. Yes. So Ankar 886 01:12:17.329 --> 01:12:21.350 will be on the show on Monday, probably 11 a.m. 887 01:12:21.489 --> 01:12:24.609 East Coast time. It'll be live streamed both on my 888 01:12:24.649 --> 01:12:28.430 channel and on the ARI Institute, the Ironman Institute channel. 889 01:12:29.649 --> 01:12:32.069 So join us then. We'll have a conversation with Ankar 890 01:12:32.100 --> 01:12:34.560 Gade about the election. I'm looking forward to it because 891 01:12:34.600 --> 01:12:41.699 Ankar always has really, really insightful comments and always learn 892 01:12:41.720 --> 01:12:46.659 something new. It'll be interesting to see his take. And, 893 01:12:47.380 --> 01:12:49.359 you know, it'll be a conversation between the two of us, 894 01:12:50.119 --> 01:12:54.829 but I'm interested primarily in what he has to answer. So, yes, 895 01:12:54.890 --> 01:12:57.729 we'll be analyzing this. We'll be looking at it. By then, 896 01:12:58.069 --> 01:13:01.270 maybe the data from Mississippi and Alaska will be in. 897 01:13:02.449 --> 01:13:05.569 We'll know probably... No, we won't know the final count 898 01:13:05.609 --> 01:13:08.310 in the House, but we'll have a clearer picture. We'll 899 01:13:08.369 --> 01:13:12.130 know more about these amendments and what passed and what didn't. Anyway, 900 01:13:12.189 --> 01:13:15.390 it'll be good, and I'm sure we'll be talking about 901 01:13:15.409 --> 01:13:19.039 this midterm, given the scale of it, for a long 902 01:13:19.100 --> 01:13:23.359 time to come. A long time to come. All right, 903 01:13:24.279 --> 01:13:29.039 let's see. Ryan, such an extreme rebuke of the Republicans 904 01:13:29.079 --> 01:13:32.270 should send a message that this administration is a disaster. 905 01:13:32.390 --> 01:13:35.590 I fear that they will use Iran to scapegoat all 906 01:13:35.649 --> 01:13:38.529 the bad policies and rhetoric. I fear that too. As 907 01:13:38.630 --> 01:13:42.600 we saw, J.D. Vance has already started that campaign. It's 908 01:13:42.640 --> 01:13:46.760 going to be his theme in running for president. He's 909 01:13:46.779 --> 01:13:55.010 going to be the anti-war, anti-Israel candidate. And we'll see 910 01:13:55.029 --> 01:13:58.760 how much resonance that has within the Republican Party. At 911 01:13:58.800 --> 01:14:00.479 the end of the day, I don't think that's why 912 01:14:00.520 --> 01:14:03.100 people voted, and therefore I don't think it'll have a 913 01:14:03.140 --> 01:14:07.329 lot of resonance electorally. But remember, people who vote in 914 01:14:07.369 --> 01:14:09.989 the primaries are not the same people who vote in 915 01:14:10.029 --> 01:14:13.850 the elections themselves. The primaries will determine who the next 916 01:14:14.050 --> 01:14:19.159 Republican candidate is, and they

could still vote for J.D. Vance, 917 01:14:19.760 --> 01:14:23.079 although I hope not. I hope some candidate emerges. I'm 918 01:14:23.119 --> 01:14:29.100 not sure who. Maybe the former governor of Georgia, Kemp. 919 01:14:30.100 --> 01:14:33.060 I'm trying to think of Republicans who. 920 01:14:35.180 --> 01:14:38.079 I don't think Nikki Haley has much of a chance, 921 01:14:38.140 --> 01:14:40.760 but I hope she runs. At this point, I'll take 922 01:14:40.800 --> 01:14:45.979 Ted Cruz over some of these people. So, yeah, it'll 923 01:14:46.000 --> 01:14:49.920 be interesting to see. Maybe Yonkins. Yonkins from Virginia, the 924 01:14:49.939 --> 01:14:52.159 former governor of Virginia. I don't think he stands for much, 925 01:14:52.920 --> 01:14:55.340 but I think he's a sharp improvement over what we 926 01:14:55.380 --> 01:14:58.920 have right now just in terms of not being part 927 01:14:58.939 --> 01:15:07.310 of the nutty wing of the Republican Party. Mary Lane says, 928 01:15:07.319 --> 01:15:10.350 you anticipated my question about the impact of Trump's immigration policies, 929 01:15:10.609 --> 01:15:13.489 but here's 20 bucks anyway. Thanks, Mary Lane. Yeah, I mean, 930 01:15:13.550 --> 01:15:17.550 I think it's significant. I really do. I think a 931 01:15:17.609 --> 01:15:21.090 lot of voters on the left maybe were motivated to 932 01:15:21.109 --> 01:15:24.369 come and vote, whereas maybe they wouldn't have because of 933 01:15:24.390 --> 01:15:28.260 the immigration policies. I think Look, I think that what 934 01:15:28.279 --> 01:15:31.720 the immigration policies really did was put a face on 935 01:15:31.739 --> 01:15:37.279 the cruelty and just the disregard for human life, the 936 01:15:37.319 --> 01:15:41.689 disregard for human values that this administration has. And I 937 01:15:42.130 --> 01:15:45.090 think that people just are disgusted by this administration and 938 01:15:45.130 --> 01:15:48.449 voted against it. They cared less about who they're going 939 01:15:48.470 --> 01:15:52.649 to get in its place and more in disgust around 940 01:15:52.750 --> 01:15:56.560 this administration. Now, this will backfire because the people they 941 01:15:56.680 --> 01:15:58.239 elected are going to be bad and they're going to 942 01:15:58.270 --> 01:16:01.930 do bad things. The real question is what kind of 943 01:16:01.989 --> 01:16:07.149 a Republican Party emerges to replace the Democrats when the 944 01:16:07.189 --> 01:16:14.770 Democrats start losing, which they will pretty quickly. Jimmy Donahue, 945 01:16:15.210 --> 01:16:20.369 your thoughts on the long-term effects of Trump's pre-election Israel 946 01:16:20.569 --> 01:16:24.369 aid remarks? You know, I don't know. I think the 947 01:16:24.449 --> 01:16:27.310 main effect is it puts it on the table. It 948 01:16:27.350 --> 01:16:31.470 gives it a reality. Then the question is, who is 949 01:16:31.510 --> 01:16:33.829 going to negotiate what this looks like? Right now, Israel 950 01:16:33.869 --> 01:16:37.119 has commitments through 2028. I don't think Trump is going 951 01:16:37.140 --> 01:16:41.880 to do anything. But will... I mean, Israel might have 952 01:16:41.899 --> 01:16:47.619 a new administration. It's hard to tell. The United States is... 953 01:16:48.939 --> 01:16:53.279 In two years, we'll have a new administration. If it's... J.D. 954 01:16:53.319 --> 01:16:56.460 Vance or of his wing of the Republican Party or Democrat, 955 01:16:57.119 --> 01:17:01.489 it's likely Israel loses its funding. I don't think that's 956 01:17:01.529 --> 01:17:05.630 necessarily a bad thing, generally. The real issue is, I mean, 957 01:17:05.670 --> 01:17:07.569 one of the things that Trump said was we're going 958 01:17:07.590 --> 01:17:10.430 to stop giving them the $ 3. 8 billion on an annual basis, 959 01:17:10.909 --> 01:17:15.939 but we're going to increase funding for joint ventures in 960 01:17:15.960 --> 01:17:20.399 national security issues like weapons development. That would be great. 961 01:17:20.779 --> 01:17:22.789 I'm all for that. I'm all for stopping the aid 962 01:17:22.810 --> 01:17:27.109 to Israel. 100%. By the way, stopping all foreign aid. 963 01:17:27.270 --> 01:17:27.630 Period. 964 01:17:27.770 --> 01:17:29.270 All of it. All of it. For every country in 965 01:17:29.289 --> 01:17:33.760 the world. And focusing with Israel on joint development of 966 01:17:33.770 --> 01:17:37.600 weapon systems. I think that plays to Israel's strength. I 967 01:17:37.640 --> 01:17:41.420 think Israel will actually gain more value out of that 968 01:17:41.680 --> 01:17:46.000 than out of just getting cash. So that would be 969 01:17:46.520 --> 01:17:51.300 what I think should happen. I think that Trump is 970 01:17:51.319 --> 01:17:54.159 going to support that. I don't know if J.D. Vance will. 971 01:17:55.199 --> 01:17:57.260 And I don't know what the Democrats will do, because 972 01:17:57.319 --> 01:18:00.920 it really depends who their candidate is. If it's one 973 01:18:00.939 --> 01:18:03.399 of the moderates, then there won't be much change to 974 01:18:03.479 --> 01:18:07.390 Israeli policy. If it's one of these nutty DSA types, 975 01:18:08.159 --> 01:18:17.630 then Israel is cooked. It's a real problem. Gail said, 976 01:18:17.750 --> 01:18:19.829 I knew you were right all along. I voted them 977 01:18:19.989 --> 01:18:23.279 to try to buy time my first time, sad about 978 01:18:23.319 --> 01:18:28.010 the celebration of the left. Yes. That is always the 979 01:18:28.029 --> 01:18:31.430 sad part is that somebody, unfortunately, they can't all lose, 980 01:18:31.970 --> 01:18:35.130 which would be my preference. Somebody wins. And you know 981 01:18:35.170 --> 01:18:38.609 it's not going to be a somebody good. All right. 982 01:18:38.710 --> 01:18:44.350 Let's see. RMK, thank you for the sticker. And Enric, 983 01:18:44.789 --> 01:18:45.550 thank you for the sticker. 984 01:18:47.630 --> 01:18:47.829

All right. 985 01:18:48.289 --> 01:18:55.899 Chris, I worry that no one in the GOP's mind 986 01:18:56.119 --> 01:19:01.590 actually changed. I just see a lot of confirmation bias. Sure, 987 01:19:01.630 --> 01:19:05.770 Nikki Haley, Mike Pence mentioned going back to traditional conservatism, 988 01:19:06.109 --> 01:19:08.810 but they always believed that and were just quiet. Yes, 989 01:19:08.869 --> 01:19:11.729 and the solution is not going back to traditional conservatism. 990 01:19:12.149 --> 01:19:16.510 Traditional conservatism has run its course. It culminated with Trump. 991 01:19:18.189 --> 01:19:23.220 So Republicans need a new course. They need something new. 992 01:19:23.439 --> 01:19:30.079 They need to really, really rethink what is going on. Yes, 993 01:19:30.579 --> 01:19:34.010 but yes, you're right about confirmation bias. But the question is, 994 01:19:35.170 --> 01:19:37.869 did we see a change in the electorate that would 995 01:19:37.909 --> 01:19:42.409 suggest new leadership will arise among Republicans? I don't know. 996 01:19:43.520 --> 01:19:45.680 But we will see. And it's going to take kind 997 01:19:45.699 --> 01:19:49.020 of a civil war inside the Republican Party to figure 998 01:19:49.039 --> 01:19:53.439 all this out. But yeah, I mean, that's the risk. 999 01:19:53.460 --> 01:19:55.279 The risk is the Republicans don't learn anything from this. 1000 01:19:55.460 --> 01:19:59.949 And if that's the case, then it was wasted. It 1001 01:19:59.989 --> 01:20:06.350 was wasted. Dan, I might have missed it. Did you 1002 01:20:06.409 --> 01:20:08.729 get some informule on some of the issues they are 1003 01:20:08.770 --> 01:20:12.189 having in Argentina? A little bit, not much, sadly. I 1004 01:20:12.729 --> 01:20:14.850 just didn't have enough time there and didn't speak to 1005 01:20:14.880 --> 01:20:20.659 the right people. People who supported Millet seemed disappointed that 1006 01:20:20.680 --> 01:20:24.399 he hasn't been more radical and that he hasn't really 1007 01:20:24.500 --> 01:20:29.819 pushed more of the agenda. People were disappointed that Argentina 1008 01:20:29.840 --> 01:20:33.619 didn't dollarize and that he backed off of that pretty quickly. 1009 01:20:35.520 --> 01:20:37.479 I think I told the story of the businessman who 1010 01:20:37.539 --> 01:20:43.350 didn't like Millet because... Basically, he had a pretty sweet 1011 01:20:43.390 --> 01:20:47.250 deal under the previous administration with all the cronyism, and 1012 01:20:47.609 --> 01:20:53.060 now his subsidies were gone. I meant this random guy 1013 01:20:53.079 --> 01:20:55.960 at a restaurant, random business guy at a restaurant. So 1014 01:20:56.659 --> 01:20:59.119 I didn't really get a strong sense. I didn't write 1015 01:20:59.180 --> 01:21:02.439 in enough Ubers to ask and to get some insights. 1016 01:21:02.640 --> 01:21:06.220 I'll be back in Argentina next year, I think, so 1017 01:21:06.500 --> 01:21:10.420 before the election.

So hopefully I'll know more then. But, 1018 01:21:12.319 --> 01:21:15.229 I mean, he's got challenges in the Congress, and it's 1019 01:21:15.289 --> 01:21:17.670 not moving fast enough. It's just not moving fast enough. 1020 01:21:18.130 --> 01:21:23.630 And the economy is not responding fast enough. So, you know, 1021 01:21:23.970 --> 01:21:26.520 hard to tell what will happen next year. But October, 1022 01:21:26.560 --> 01:21:29.359 the election, a lot of people are worried about whether 1023 01:21:29.380 --> 01:21:36.630 he can win. Robert says, although I stand by my 1024 01:21:36.689 --> 01:21:40.449 mostly blue ballot, I'm surprised just how blue things went. 1025 01:21:41.289 --> 01:21:43.319 Our work is cut out for us. Oh, no kidding. 1026 01:21:44.359 --> 01:21:48.899 Walking it all back, hopefully, many, most people understand that 1027 01:21:48.939 --> 01:21:52.779 Tuesday was a loud no, not a yes. Well, I'm 1028 01:21:52.800 --> 01:21:54.180 going to tell the Democrats they'll take it that way. 1029 01:21:54.680 --> 01:21:57.119 They'll take it as a no and a yes. And 1030 01:21:57.159 --> 01:22:00.569 they'll promote their agenda. I hope that the failure of 1031 01:22:00.590 --> 01:22:05.010 the ballot initiatives in California... sends a message to Democrats 1032 01:22:05.170 --> 01:22:10.130 that at least on these issues of going after the rich, 1033 01:22:11.270 --> 01:22:21.279 that maybe they could very well overstep. Chris, Republican senator 1034 01:22:21.579 --> 01:22:26.050 in Missouri said people should pick another protein in response 1035 01:22:26.090 --> 01:22:29.829 to high beef prices. And Democratic challenger responded with a 1036 01:22:29.930 --> 01:22:36.039 clever ad, pick another protein. I'd rather pick another senator instead. Funny. Yes. 1037 01:22:36.840 --> 01:22:42.149 I mean, Republicans are awful in their tribalism. Pick another 1038 01:22:42.189 --> 01:22:46.229 protein because beef prices are up because of Trump's tariffs. 1039 01:22:47.890 --> 01:22:50.310 There's plenty of beef in the world, but you restrict 1040 01:22:50.329 --> 01:22:55.489 the supply with tariffs. You're going to get shellacked at 1041 01:22:55.510 --> 01:23:04.260 the polls because beef prices go up. I mean, the 1042 01:23:04.300 --> 01:23:06.560 reality is Democrats are going to increase prices even more. 1043 01:23:08.300 --> 01:23:11.010 And the reality is that Americans will have to vote 1044 01:23:11.020 --> 01:23:18.430 again on cost of living. Just like they ousted Biden-Harris, basically, 1045 01:23:19.210 --> 01:23:21.890 because of inflation. She lost because of inflation more than 1046 01:23:21.909 --> 01:23:25.130 anything else to Trump. And now Trump has lost, or 1047 01:23:25.289 --> 01:23:30.720 Republicans have lost, because of inflation. Price inflation. Voters hate inflation. 1048 01:23:31.500 --> 01:23:33.920 They should have learned that in the 1970s from what 1049 01:23:33.939 --> 01:23:37.659 happened in the

70s. Voters hate inflation above all else. 1050 01:23:39.180 --> 01:23:43.260 And Republicans who would have won the presidency in 2024 1051 01:23:43.260 --> 01:23:48.239 no matter who they had nominated. Imagine if they'd nominated 1052 01:23:48.319 --> 01:23:51.640 Haley or DeSantis or any of the candidates. I don't 1053 01:23:51.720 --> 01:23:55.600 love any of them. But if they they wouldn't have 1054 01:23:55.649 --> 01:23:58.689 had the shellacking right now. This is the Trump shellacking. 1055 01:23:59.289 --> 01:24:05.529 This is The repudiation of Trump. And Republicans, in 2024, 1056 01:24:05.529 --> 01:24:10.510 they had a chance of choosing somebody else. And there 1057 01:24:10.529 --> 01:24:13.350 was every reason in the world to choose somebody else. 1058 01:24:14.729 --> 01:24:19.560 They didn't. They got crushed. I guess they deserved it. 1059 01:24:21.750 --> 01:24:25.989 Stephen Harper, thank you for the sticker. All right. Randall, 1060 01:24:26.670 --> 01:24:30.050 since you said in your Hasan Piker show that U.S. 1061 01:24:30.189 --> 01:24:33.569 allies should be more independent in the defense space. What 1062 01:24:33.609 --> 01:24:37.689 is your opinion of AUKUS? And should Australia give up 1063 01:24:38.149 --> 01:24:41.029 on acquiring nuclear-powered subs from the U.S.? No. I think 1064 01:24:41.189 --> 01:24:44.899 there's absolutely no reason not to acquire the subs. But 1065 01:24:45.880 --> 01:24:48.479 you've got to also start thinking about other means by 1066 01:24:48.539 --> 01:24:51.159 which to defend yourself and not rely on America as much. 1067 01:24:52.239 --> 01:24:56.409 Buy what you can. Get the best technology possible. It's also, 1068 01:24:56.609 --> 01:25:00.529 it's not clear who the enemy of Australia is, right? China. 1069 01:25:01.289 --> 01:25:05.489 But China's probably not invading Australia anytime soon. So, I'm 1070 01:25:05.510 --> 01:25:08.090 not sure how much Australia should be spending on defense, 1071 01:25:09.170 --> 01:25:16.119 but starting to defend it, to diversify, like, why not 1072 01:25:16.199 --> 01:25:21.520 buy missile defense systems from Israel instead of Patriot batteries 1073 01:25:21.539 --> 01:25:26.750 from the U.S.? So, everybody should start diversifying or Tanks, 1074 01:25:27.029 --> 01:25:28.609 if you want to buy tanks, I'm not sure Australia 1075 01:25:28.630 --> 01:25:31.510 needs them, from South Korea instead of from the U.S. 1076 01:25:32.250 --> 01:25:40.819 So start diversifying your sources from other free countries. Randall continues, 1077 01:25:41.199 --> 01:25:44.939 Your analysis of the Australian gas defense was good, and 1078 01:25:44.979 --> 01:25:49.819 it can be easily summarized. You can't fight altruism with altruism. P.S. 1079 01:25:50.020 --> 01:25:53.710 I am thankful you pushed through the show as you 1080 01:25:53.729 --> 01:25:58.569 were getting frustrated how dumb our policies are. Yeah, but, 1081 01:25:58.770 --> 01:26:02.689 you know, if I looked at policies around almost any 1082 01:26:02.750 --> 01:26:09.060 issue by modern countries today, I'd be frustrated. But thank 1083 01:26:09.079 --> 01:26:10.939 you for sponsoring that show. I think it's a really 1084 01:26:10.979 --> 01:26:13.100 valuable show. I think we got to some good principles. 1085 01:26:13.600 --> 01:26:16.739 I think we covered a lot of stuff on that show, 1086 01:26:16.760 --> 01:26:20.560 so I'm really happy with that. Thank you. And by 1087 01:26:20.600 --> 01:26:24.680 the way, $ 1, 000 and you could determine what I talk about. 1088 01:26:25.359 --> 01:26:29.680 I'll talk about a topic of your choosing. So please 1089 01:26:29.739 --> 01:26:31.810 consider that. It's a great way to support the show. 1090 01:26:32.100 --> 01:26:33.449 It's a great way to get me to talk about 1091 01:26:33.470 --> 01:26:36.029 what you want me to talk about. That's what Randall 1092 01:26:36.069 --> 01:26:41.689 did with the oil and gas issues around Australia. Again, 1093 01:26:41.710 --> 01:26:44.229 it's $ 1, 000 to do a show. Sponsors seem to enjoy 1094 01:26:50.170 --> 01:26:52.630 doing it, and I enjoy doing it, so it's a 1095 01:26:52.710 --> 01:26:58.250 win-win all around. Anthony. Hi, Yuan. Do you think there 1096 01:26:58.289 --> 01:27:02.710 are any broader messages to the far right of these 1097 01:27:03.010 --> 01:27:08.930 electoral results? Internationally, that is. The message I am hopeful 1098 01:27:09.050 --> 01:27:11.909 for is you have little to no support for your 1099 01:27:11.949 --> 01:27:18.600 racist and anti-life ideas. I don't think so, sadly. Because 1100 01:27:19.560 --> 01:27:25.600 This is Trump. I mean, there's a repudiation of kind 1101 01:27:25.619 --> 01:27:30.199 of the nationalist economic policies that tariffs represent, but I 1102 01:27:30.239 --> 01:27:32.479 don't know that anybody's really going to learn that lesson 1103 01:27:32.560 --> 01:27:38.739 outside of the U.S. I don't think they repudiate it. 1104 01:27:38.859 --> 01:27:43.569 I think this is too tied up to Trump's insanity. 1105 01:27:43.710 --> 01:27:47.569 He's a crazy guy and a hatred of Trump, a justified, 1106 01:27:47.970 --> 01:27:52.810 I think, hatred of Trump. So I think others on 1107 01:27:52.850 --> 01:27:57.890 the right will say, yeah, it's a personality thing, and 1108 01:27:57.909 --> 01:28:00.390 they'll stick to the policies. And look, I don't know 1109 01:28:00.409 --> 01:28:02.909 of any right-wing party out there that's making a big 1110 01:28:02.970 --> 01:28:05.640 deal out of tariffs like Trump does. None of them. 1111 01:28:09.739 --> 01:28:13.819 I'm trying to think of other... Yeah, I can't think 1112 01:28:14.659 --> 01:28:18.079 of any of the right-wing parties being as stupid as 1113 01:28:18.159 --> 01:28:24.359 to make tariffs the big issue. maybe you will see 1114 01:28:24.380 --> 01:28:29.640 a moderation in terms of immigration by parties like AFD, 1115 01:28:29.760 -->

01:28:34.760 particularly if they want to win in Germany, given the 1116 01:28:34.800 --> 01:28:40.279 backlash against the deportations in the U.S. Now, even their proposals... 1117 01:28:40.430 --> 01:28:44.720 for deporting people in Germany are far, far more moderate 1118 01:28:44.739 --> 01:28:47.680 than what Trump has done. So I really do think 1119 01:28:47.720 --> 01:28:50.119 Trump is unique. I don't think you're going to see 1120 01:28:50.180 --> 01:28:55.239 other far-right parties looking at this, looking at this, right? 1121 01:29:02.569 --> 01:29:06.680 Mindspan says, Your Peterson Academy course on Ayn Rand is 1122 01:29:06.720 --> 01:29:11.460 officially online now. Highly recommend to everyone. I know one 1123 01:29:11.520 --> 01:29:15.220 person who came, told me it changed her life. Yes. 1124 01:29:15.840 --> 01:29:19.550 She was there. She was a non-objectivist. And she said 1125 01:29:19.750 --> 01:29:23.090 the course changed her life. And she was there live. 1126 01:29:25.270 --> 01:29:28.289 Couldn't have asked for a better response. She was going 1127 01:29:28.310 --> 01:29:30.699 to go read the found head, read Atlas. I know 1128 01:29:30.739 --> 01:29:35.279 that people in the crew filming the course. They all 1129 01:29:35.319 --> 01:29:37.659 bought Ayn Rand's books. They had them by the end 1130 01:29:37.699 --> 01:29:40.899 of the course. They were out on the tables. They 1131 01:29:41.140 --> 01:29:44.159 stacked Ayn Rand's books that they had bought that they 1132 01:29:44.199 --> 01:29:50.899 were sharing among themselves. So, yeah, check it out. Ryan says, 1133 01:29:50.979 --> 01:29:55.279 saying it's Israel's war is essentially 9-11 denialism. This is gross. Yes, 1134 01:29:55.340 --> 01:30:00.729 it is. And it's borderline anti-Semitism. It's playing into the Fuentes, 1135 01:30:00.859 --> 01:30:06.220 Tucker Carlson, Conspiracy theory, BS. It's the worst elements in 1136 01:30:06.239 --> 01:30:11.229 the Republican Party. Hopefully they don't win the civil war 1137 01:30:11.239 --> 01:30:13.189 within the Republican Party. If they do, then we have 1138 01:30:13.229 --> 01:30:17.289 nobody to vote for. It's over. Then the only hope 1139 01:30:17.329 --> 01:30:20.550 is a third party. And it could be that the 1140 01:30:20.590 --> 01:30:28.739 only hope is a third party. Republicans are finished. Neil Collins, 1141 01:30:28.899 --> 01:30:31.520 I still believe a Democratic win after the midterms makes 1142 01:30:31.600 --> 01:30:34.659 Ukraine aid more likely to pass both House and Senate. 1143 01:30:35.220 --> 01:30:37.319 The poor Putin left is a small minority. I think 1144 01:30:37.359 --> 01:30:41.319 that's right. The challenge is that Trump could veto it. Now, 1145 01:30:41.460 --> 01:30:43.199 it might pass. You might be able to get enough 1146 01:30:43.260 --> 01:30:48.810 Republicans to vote and get a veto-proof majority. So we 1147 01:30:48.819 --> 01:30:57.510 will see. But yes, I think Ukraine benefits from this. Solano, 1148 01:30:57.670 --> 01:31:00.369 police are working with ICE in Florida. It's so bad 1149 01:31:00.390 --> 01:31:03.310 that Ukrainians are leaving for other states. Many of our 1150 01:31:03.329 --> 01:31:07.689 people are in detention centers today. That's just horrible. I 1151 01:31:07.729 --> 01:31:11.720 didn't know that about Florida. So maybe my explanation of 1152 01:31:11.739 --> 01:31:15.000 the difference between Texas and Florida is wrong. Maybe immigration 1153 01:31:15.039 --> 01:31:17.359 didn't play a big factor there. I just had a 1154 01:31:17.479 --> 01:31:23.489 sense that this was... Well, let me rephrase that. I 1155 01:31:23.609 --> 01:31:28.779 think in Texas it's more concentrated among... Hispanics and Hispanic voters, 1156 01:31:28.819 --> 01:31:32.140 who are a big chunk of the Texas voters, took 1157 01:31:32.180 --> 01:31:34.619 it personally and voted against it. I'm not sure there's 1158 01:31:34.659 --> 01:31:40.170 a constituency that is going to be offended enough in Florida. 1159 01:31:42.649 --> 01:31:48.390 But more analysis needed on that one. Fenn Harper, any 1160 01:31:48.430 --> 01:31:51.479 comments on the state of abortion law in Texas now 1161 01:31:51.899 --> 01:31:55.270 that it's blue? Yeah, I think enforcement will be... Whether 1162 01:31:55.310 --> 01:31:58.369 they can change the law, I don't know, because it's 1163 01:31:58.409 --> 01:32:02.529 not completely blue. I don't think the Democrats took the Senate. 1164 01:32:02.550 --> 01:32:05.270 They only took the House in Texas. So I don't 1165 01:32:05.289 --> 01:32:07.630 know if they could change the law. Maybe they will. 1166 01:32:08.409 --> 01:32:11.979 But I do think enforcement disappears, right? I mean, the 1167 01:32:12.039 --> 01:32:13.979 governor's not going to enforce it. The attorney general's not 1168 01:32:14.000 --> 01:32:18.680 going to enforce it. So abortion rights... Texas becomes much 1169 01:32:18.800 --> 01:32:20.979 freer when it comes to abortion than it was before. 1170 01:32:21.779 --> 01:32:26.199 And hopefully... Republicans in the Senate will shape up and 1171 01:32:26.520 --> 01:32:29.760 team up with Democrats to reverse the abortion law in Texas. 1172 01:32:29.819 --> 01:32:35.319 It's an awful, awful, awful law. Chris, exit polls show 1173 01:32:35.439 --> 01:32:37.810 it's not the war as much as other issues you mentioned, 1174 01:32:38.310 --> 01:32:40.909 so if Vance evades that reality, won't that hurt his 1175 01:32:40.930 --> 01:32:44.829 chances of being nominated? I hope so. Remember, a big 1176 01:32:44.850 --> 01:32:47.630 chunk of the voters are independents. The people who vote 1177 01:32:47.829 --> 01:32:53.420 in the primaries are different, and they might You know, 1178 01:32:53.460 --> 01:32:59.699 who knows what they will decide. So the primary voter 1179 01:32:59.739 --> 01:33:06.159 base is different than the actual election voter base. Okay, time. 1180

01:33:07.199 --> 01:33:11.560 My heart goes out to all immigrants victimized. Mine too, absolutely. 1181 01:33:12.319 --> 01:33:17.239 Time also says, 2026 worse than 2020 for MAGA? Yeah, definitely. Definitely. 1182 01:33:17.260 --> 01:33:21.260 This is, you know, 2020 was in the middle of COVID. COVID. 1183 01:33:22.100 --> 01:33:24.920 It was, you know, all kinds of bad stuff going on, 1184 01:33:25.760 --> 01:33:29.800 and Trump convinced MAGA that it was stolen anyway. Now, 1185 01:33:30.180 --> 01:33:35.260 it wasn't stolen, and, you know, it wasn't stolen, and 1186 01:33:35.279 --> 01:33:41.979 it was a repudiation of much of what MAGA stands for. Oh, 1187 01:33:42.079 --> 01:33:45.140 here's a, I can't believe I didn't mention this, but 1188 01:33:45.199 --> 01:33:47.720 here's a really, really important thing that needs to be said, 1189 01:33:48.279 --> 01:33:53.840 and it's a positive. It doesn't look like Trump will 1190 01:33:53.880 --> 01:33:57.579 do much to try to overturn any of this. It 1191 01:33:57.619 --> 01:34:02.720 looks like, you know, our elections are going to still function. 1192 01:34:04.000 --> 01:34:10.279 It looks like election integrity is, you know, holds. Now 1193 01:34:10.319 --> 01:34:13.369 that's huge. I mean, so many of us, including me, 1194 01:34:13.609 --> 01:34:17.109 and some of you even more so, were convinced that 1195 01:34:17.250 --> 01:34:21.890 Trump would steal this election. He didn't. That's great. The 1196 01:34:21.930 --> 01:34:24.760 system held. And here's the good news. The system holds. 1197 01:34:25.380 --> 01:34:28.819 We will survive eight years of Trump and we will hold. 1198 01:34:29.159 --> 01:34:33.399 America will hold. Now, can we survive eight years of 1199 01:34:34.319 --> 01:34:37.039 the Democrats? We'll see. But we survived eight years of 1200 01:34:37.079 --> 01:34:42.979 Trump and the system itself, the system of checks and balances, somewhat. 1201 01:34:43.739 --> 01:34:48.430 The Supreme Court, somewhat. But mostly, yes. And the electoral system, 1202 01:34:48.699 --> 01:34:56.810 it worked. It worked. And So all of that is good. Time, 1203 01:34:56.949 --> 01:35:00.640 Fuentes has been energized by MAGA's defeat. Yes, because look, 1204 01:35:01.079 --> 01:35:04.960 Fuentes is within MAGA. So there's a civil war within MAGA. 1205 01:35:05.119 --> 01:35:11.520 Fuentes' side views this as the defeat of the so-called 1206 01:35:11.640 --> 01:35:16.670 moderate MAGA. We'll see where this all takes us. Time says, 1207 01:35:16.810 --> 01:35:22.199 MAGA drifter Russell Brand jailed, yes, jailed for rape. Um, 1208 01:35:23.979 --> 01:35:27.500 Time Mississippi State raised close. Yeah, I talked about that earlier. 1209 01:35:28.079 --> 01:35:32.100 And finally, Carlson is taking victory laps over Shapiro now. 1210 01:35:33.319 --> 01:35:37.029 I'm not sure why Carlson is happy. I guess because 1211 01:35:37.050 --> 01:35:40.229 he endorsed El Sayyad. For him, the issue is Israel. 1212 01:35:42.029 --> 01:35:45.510 And Carlson is going to interpret this as a defeat 1213 01:35:45.869 --> 01:35:47.430 for the cause of U.S. 1214 01:35:47.449 --> 01:35:48.090 Support for Israel. 1215 01:35:48.970 --> 01:35:54.970 Not just financial support, but moral support as well. Time 1216 01:35:54.989 --> 01:35:58.729 says the bigotry against El Sayyad was disgusting. Against El 1217 01:35:58.750 --> 01:36:01.689 Sayyad there was bigotry? I didn't see the bigotry against 1218 01:36:01.789 --> 01:36:06.649 El Sayyad. El Sayyad himself was disgusting, so I'm not 1219 01:36:06.750 --> 01:36:10.159 sure what the bigotry against him was. I didn't see that. 1220 01:36:12.180 --> 01:36:16.159 All right. Thank you, guys. Really appreciate it. I will 1221 01:36:16.239 --> 01:36:19.960 see you Sunday with Nikos. We will be talking about 1222 01:36:19.979 --> 01:36:26.329 the Suez Crisis and Monday, I'll be with Ankar talking 1223 01:36:26.409 --> 01:36:29.560 again about the midterm elections. And then I don't know 1224 01:36:29.600 --> 01:36:31.340 what the schedule is going to be next week, for 1225 01:36:31.359 --> 01:36:33.840 the next week and a half. But at some point, 1226 01:36:33.979 --> 01:36:36.930 we'll get back on a regular schedule. Have a great weekend. 1227 01:36:37.750 --> 01:36:39.390 I will be flying all day tomorrow, but I'll see 1228 01:36:39.409 --> 01:36:40.529 you Sunday. Bye, everybody.