ROL_2009-12-04_16k_Hr1-2.timecode

[00:00.000 --> 00:10.400]  The latest threat to allied soldiers in Afghanistan has been uncovered after insurgents sent a
[00:10.400 --> 00:15.640]  donkey loaded with high explosives galloping towards a military camp.
[00:15.640 --> 00:20.560]  A suspicious sentry killed the animal after flares failed to halt it.
[00:20.560 --> 00:25.840]  Troops approaching the dead donkey lit the bundle of hay on its back with a flare.
[00:25.840 --> 00:28.040]  There was a huge blast.
[00:28.040 --> 00:32.700]  Foreign Secretary Robert Gates said Thursday the withdrawal of US forces from Afghanistan
[00:32.700 --> 00:38.560]  scheduled to begin in July 2011 will probably take two or three years adding there are no
[00:38.560 --> 00:42.760]  deadlines in terms of when our troops will all be out.
[00:42.760 --> 00:49.240]  The unemployment rate unexpectedly fell to 10% last month from 10.2% in October.
[00:49.240 --> 00:54.360]  The better than expected figures provided a rare dose of good news for a labor market
[00:54.360 --> 01:01.440]  that's lost 7.2 million jobs in two years.
[01:01.440 --> 01:07.680]  Tests show products billed as microwave safe release toxic doses of the chemical bisphenol
[01:07.680 --> 01:09.280]  A when heated.
[01:09.280 --> 01:14.200]  The Milwaukee Journal Sentinel had the containers of 10 items that were heated in a microwave
[01:14.200 --> 01:17.000]  oven tested in a lab.
[01:17.000 --> 01:21.160]  Bisphenol A or BPA was found to be leaching from all of them.
[01:21.160 --> 01:26.440]  The amounts detected were at levels scientists have found caused neurological and developmental
[01:26.440 --> 01:28.440]  damage in lab animals.
[01:28.440 --> 01:33.840]  The problems include genital defects, behavioral changes and abnormal development of mammary
[01:33.840 --> 01:34.840]  glands.
[01:34.840 --> 01:39.800]  The changes to mammary glands were identical to those observed in women at higher risk
[01:39.800 --> 01:41.120]  of breast cancer.
[01:41.120 --> 01:48.320]  BPA is a key ingredient in household plastics including baby bottles and storage containers.
[01:48.320 --> 01:53.400]  Frederick Vomsal, a University of Missouri researcher who oversaw the paper's testing
[01:53.400 --> 01:58.440]  said there is no such thing as safe microwaveable plastic.
[01:58.440 --> 02:05.920]  Food company officials say the doses detected were so low as to be insignificant.
[02:05.920 --> 02:10.920]  The New York Times reports the White House has authorized an expansion of the CIA's drone
[02:10.920 --> 02:17.680]  program in Pakistan's tribal areas to parallel Barack Obama's decision to send 30,000 more
[02:17.680 --> 02:19.880]  troops to Afghanistan.
[02:19.880 --> 02:24.960]  The Times says the drone program is hailed by counter-terrorism officials as a resounding
[02:24.960 --> 02:30.440]  success, eliminating key terrorists and throwing their operations into disarray.
[02:30.440 --> 02:35.800]  But despite close cooperation from Pakistani intelligence, the program has generated public
[02:35.800 --> 02:41.600]  anger in Pakistan and some experts wonder whether it does more harm than good.
[02:41.600 --> 02:44.480]  Several hundred civilians are reported to have been killed.
[02:44.480 --> 02:49.800]  The Times says for the first time in history a civilian intelligence agency is using robots
[02:49.800 --> 02:54.560]  to carry out a military mission, selecting people for killing in a country where the
[02:54.560 --> 03:18.440]  US is not officially at war.
[03:18.440 --> 03:37.440]  The Times says the US is using robots to carry out a military mission, selecting people for
[03:37.440 --> 03:46.440]  killing in a country where the US is not officially at war.
[03:46.440 --> 04:05.800]  All right, bad boys, bad boys, what are you going to do when we come for you?
[04:05.800 --> 04:16.960]  Randy Kelton, Eddie Craig, Deborah Stevens, Sherry Jackson, Janie Coverdale, got all these
[04:16.960 --> 04:23.720]  awesome patriots that are fighting hard, and so is the financial analyst Steve, who is
[04:23.720 --> 04:25.760]  our guest tonight.
[04:25.760 --> 04:29.640]  Steve, welcome to the show, we're so glad to have you back again.
[04:29.640 --> 04:35.520]  Oh, hi Deborah, hi Randy, thanks a lot guys for having me back, it's been a while.
[04:35.520 --> 04:41.080]  Yes, it's been a while, I know you've been very busy, and we really appreciate you taking
[04:41.080 --> 04:45.400]  the time out of your extremely busy schedule to come back on the show, especially for a
[04:45.400 --> 04:52.200]  four hour show, to talk about the current state of economic affairs, so to speak.
[04:52.200 --> 04:58.120]  And tonight I definitely want to get into addressing the metals market, and is that
[04:58.120 --> 05:01.200]  accurately reflecting what's really going on, and these kinds of things, but before
[05:01.200 --> 05:08.760]  we get into that, Randy, you had a question for Steve that you wanted to start off with
[05:08.760 --> 05:10.720]  to get the ball rolling here.
[05:10.720 --> 05:20.000]  Yes, I did, the last time you were on, you used an analogy of the American economy being
[05:20.000 --> 05:27.480]  like a supertanker up to full speed in the engine shutdown, and it's coasting in towards
[05:27.480 --> 05:36.640]  shore, and that stuck with me, and I'm concerned now about how close you think that thing is
[05:36.640 --> 05:38.680]  to running aground.
[05:38.680 --> 05:46.440]  Well, you know, I've always had a lot of favor with using that analogy, because it's something
[05:46.440 --> 05:52.640]  that can very quickly, you know, paint a broad picture for folks, of how could we possibly
[05:52.640 --> 05:57.720]  be in such a mess, and if it were really that bad, wouldn't everybody be talking about
[05:57.720 --> 06:03.200]  it, wouldn't everybody be admitting there's this critical problem going on, we're looking
[06:03.200 --> 06:11.680]  at the basic meltdown of our entire financial system since, say, the end of World War II,
[06:11.680 --> 06:16.120]  and how could that be of such a risk, and the only analogy I've ever come up with is
[06:16.120 --> 06:21.760]  like the one you just mentioned, that's oil tanker, that our economy in our country was
[06:21.760 --> 06:28.280]  so wealthy and so large that it would be like an oil tanker going across the ocean, and
[06:28.280 --> 06:35.040]  you can shut that oil tanker's engines off 30 miles from shore, and the raw inertia of
[06:35.040 --> 06:40.920]  the vessel will carry it into the shoreline with minimal power, and I think we shut the
[06:40.920 --> 06:49.240]  engines off to our oil tanker 20 or 30 years ago, and as far as where would we be now,
[06:49.240 --> 06:55.280]  my best guess would be just like on any beach, you know, you put your toes in the water and
[06:55.280 --> 07:04.400]  it barely covers your feet, and as you walk out into the water, usually the sand just
[07:04.400 --> 07:09.440]  gradually goes down, so every time you take a step, you gradually get deeper and deeper
[07:09.440 --> 07:10.440]  into the water.
[07:10.440 --> 07:15.640]  Well, I think that oil tanker is getting ready to run into the sand.
[07:15.640 --> 07:21.160]  I think we're extremely close, and even though that might be the picture, we could actually
[07:21.160 --> 07:25.400]  have a complete meltdown tomorrow, and the general public might not even realize what
[07:25.400 --> 07:31.680]  happened for a month or two, so to answer your question, I think we're already there,
[07:31.680 --> 07:32.680]  Randy.
[07:32.680 --> 07:37.600]  Frankly, I'm terrified.
[07:37.600 --> 07:47.800]  What can we expect to begin to happen, and is there anything at this point we can do
[07:47.800 --> 07:55.640]  to position ourselves so that we suffer as little damage as possible?
[07:55.640 --> 08:02.560]  Well, I think there's a fair amount of things the individual can do, but I want to make
[08:02.560 --> 08:04.960]  no mistake about that.
[08:04.960 --> 08:07.400]  I don't care who you are.
[08:07.400 --> 08:12.400]  I don't care how powerful you are, how small of a position of life you might have, where
[08:12.400 --> 08:17.920]  your finances are, or even if you're one of the delusional power freaks out there who
[08:17.920 --> 08:25.560]  believe they actually control this stuff, nobody is going to win here.
[08:25.560 --> 08:31.360]  This is not going to be an issue of, you know, Randy, I took this particular financial strategy,
[08:31.360 --> 08:38.440]  and I was able to greatly overcome, because just because the amount of digits in my bank
[08:38.440 --> 08:44.520]  account may actually go up, that doesn't mean that all the people I love and care about
[08:44.520 --> 08:51.880]  aren't suffering, that people in my neighborhood, my county, my state, my country aren't suffering
[08:51.880 --> 08:58.960]  horribly, and then if you throw the bureaucratic mess into the picture, whatever amount of
[08:58.960 --> 09:04.200]  time it would take us to recover and get back on our feet, every time a politician opens
[09:04.200 --> 09:11.640]  their mouth, it's like hitting the pause button on the recovery process, because when we confuse
[09:11.640 --> 09:17.760]  the population on what is happening, how dire is it or how dire is it not, and then what
[09:17.760 --> 09:22.200]  are some things that we can logically do to get out of it, if people are confused and
[09:22.200 --> 09:26.560]  wrong messages are sent, like if they have been sent since the time I did the last talk
[09:26.560 --> 09:31.440]  with you guys or last radio show with you guys, if nobody's going to recognize these
[09:31.440 --> 09:36.520]  inherent problems, then nothing will be done to make it any better, and it will continually
[09:36.520 --> 09:41.880]  get worse and worse and worse.
[09:41.880 --> 09:46.920]  The individual has the best chance of at least starving off some of the negative effects,
[09:46.920 --> 09:54.600]  but like I said, this is not a winnable situation, it's how much can you minimize your damage,
[09:54.600 --> 09:57.800]  and there is- Yes, that was, I expect that we're all going
[09:57.800 --> 10:08.440]  to suffer considerably, I'm just looking for the decisions we can make that will lessen
[10:08.440 --> 10:14.840]  the difficulty, are there any reasonable decisions we can make at this point, or are we already
[10:14.840 --> 10:16.840]  over the curve?
[10:16.840 --> 10:23.800]  Well, I have to answer that in two ways, I've got to give a quick disclaimer, I have been
[10:23.800 --> 10:30.840]  a financial analyst for 20 years, however, I do not have a license to give financial
[10:30.840 --> 10:36.000]  advice to anybody, so anything that you or anybody listening tonight were to hear me
[10:36.000 --> 10:42.480]  say is strictly my opinion, I'm offering this for educational purposes and entertainment
[10:42.480 --> 10:47.720]  purposes only, if somebody were to hear anything out of my mouth that makes them wonder or
[10:47.720 --> 10:54.680]  want to do something, be responsible, do your homework, be an adult, and don't be looking
[10:54.680 --> 11:01.640]  for a scapegoat, whether it's me or some broker or somebody else, do your homework and find
[11:01.640 --> 11:09.440]  out what you need, what do you want to see happen, because anything outside of that is
[11:09.440 --> 11:13.120]  just trying to pass the buck off onto somebody else.
[11:13.120 --> 11:19.800]  So if you're, well to answer your question, I have to only state it in what would I be
[11:19.800 --> 11:23.840]  doing and what am I doing personally.
[11:23.840 --> 11:30.840]  Over the last 9 to 12 months, I have been very diligently trying to exit every single
[11:30.840 --> 11:38.720]  form of paper asset I was attached to, it was about 9 months ago in real earnest that
[11:38.720 --> 11:43.840]  I began to see the writing on the wall and the risk that we were facing, these abysmal
[11:43.840 --> 11:52.240]  solutions, offered solutions, offered ways to deal with the current crisis, all I've
[11:52.240 --> 11:59.920]  seen is our government dig a colossal hole, nothing that is going to be just overcome,
[11:59.920 --> 12:07.120]  not without radical change and radical lowering of standard of living, from sea to shining
[12:07.120 --> 12:08.920]  sea.
[12:08.920 --> 12:18.960]  I think for me personally, being in any form of paper asset, be that currency, bonds, stocks,
[12:18.960 --> 12:25.920]  anything in that realm, to me is poison and the way I'm looking at the world right now,
[12:25.920 --> 12:30.160]  any of those items that I just mentioned, plus a handful of others, are a quick way
[12:30.160 --> 12:34.000]  to the poor house.
[12:34.000 --> 12:41.160]  So if I'm looking to protect myself, staying away from that stuff is going to help.
[12:41.160 --> 12:49.240]  So then we would look at something hard, like a commodity or something we can put our hand
[12:49.240 --> 12:56.840]  on, that whatever happens to the paper money, things of a physical nature tend to stay where
[12:56.840 --> 12:59.080]  they are and the money moves around it?
[12:59.080 --> 13:09.280]  Well, that's a lot better of a solution for me than putting my faith in liars and conmen.
[13:09.280 --> 13:16.600]  Because everything I have heard since I did this show the last time, I'm very disheartened.
[13:16.600 --> 13:20.000]  I'm very sad at what I see happening.
[13:20.000 --> 13:24.960]  And I guess it's not so much are we going to go through hard times because folks, we're
[13:24.960 --> 13:27.220]  Americans, that's what we do.
[13:27.220 --> 13:32.080]  We go through good, we go through bad, and when we get through bad, we do it with style,
[13:32.080 --> 13:34.020]  grace, and class.
[13:34.020 --> 13:40.080]  We pull together, we ring together, and we overcome.
[13:40.080 --> 13:44.880]  But I see something really different this time compared to previous threats.
[13:44.880 --> 13:53.640]  I see a system that is so completely corrupted and so completely out of control that it makes
[13:53.640 --> 13:58.840]  me really wonder, how are we going to do it this time?
[13:58.840 --> 14:04.060]  Even if our collective national spirit is high and the fight and the will to fight is
[14:04.060 --> 14:13.080]  really there, if the people that I employ to work for me to help make general decisions,
[14:13.080 --> 14:18.800]  if I can't trust any of them, if I can't believe in any of them, and for me with an economic
[14:18.800 --> 14:24.640]  bend, if I wouldn't hire any single one of them, with the exception of maybe Ron Paul,
[14:24.640 --> 14:30.400]  and I say maybe and I'll get back to that, I wouldn't hire any of these people to run
[14:30.400 --> 14:33.400]  a McDonald's or a Burger King.
[14:33.400 --> 14:35.160]  I don't think they're capable of it.
[14:35.160 --> 14:37.280]  I don't think they know what it means.
[14:37.280 --> 14:40.240]  I don't think they know how to work.
[14:40.240 --> 14:45.320]  And I don't think they know what the public actually wants as a finished product anyway.
[14:45.320 --> 14:52.960]  Their entire life revolves around themselves with absolutely no thought whatsoever to what
[14:52.960 --> 14:58.240]  are the terrible actions I'm going to make out of political pressure that will get me
[14:58.240 --> 15:04.400]  through today or maybe this quarter or maybe halfway into the job that I'm elected to
[15:04.400 --> 15:08.480]  do so I can start running for office again.
[15:08.480 --> 15:13.640]  Until we fix that, any of the economic solutions, whatever band-aids we could apply, whatever
[15:13.640 --> 15:18.400]  life rafts we could create for ourselves to help get through this is only going to be
[15:18.400 --> 15:22.400]  marginal at best.
[15:22.400 --> 15:23.400]  So sorry to start off.
[15:23.400 --> 15:32.480]  My concern about that is from the time of Socrates, politicians have always worked essentially
[15:32.480 --> 15:34.960]  for their own personal self-interest.
[15:34.960 --> 15:40.280]  And they've always consistently been controlled by the bankers too or they get assassinated
[15:40.280 --> 15:41.280]  by the bankers.
[15:41.280 --> 15:44.880]  Follow the money.
[15:44.880 --> 15:49.400]  And why did you say maybe about Ron Paul?
[15:49.400 --> 15:54.080]  Well, I smell a big rat with Ron Paul too.
[15:54.080 --> 15:58.640]  And I could just imagine the hate mail that's going to come across.
[15:58.640 --> 15:59.920]  But it's one man's opinion.
[15:59.920 --> 16:01.120]  I'm entitled to it.
[16:01.120 --> 16:06.760]  Well, I've always suspected that there's someone having to control him too or they would have
[16:06.760 --> 16:10.800]  put a bullet in him already.
[16:10.800 --> 16:18.120]  I mean, you know, he did drop out of the race and it's like he raised more money than any
[16:18.120 --> 16:23.200]  other candidate ever in history, not long before that.
[16:23.200 --> 16:26.600]  And you know, who knows, maybe the men in black went to him and said, hey, you know
[16:26.600 --> 16:27.600]  what?
[16:27.600 --> 16:30.880]  You're going to drop out and you're going to stop this or else you're not going to go
[16:30.880 --> 16:32.920]  home to your wife and kids tonight.
[16:32.920 --> 16:34.480]  It happens.
[16:34.480 --> 16:35.480]  This is what happens.
[16:35.480 --> 16:36.480]  All right.
[16:36.480 --> 16:41.040]  We'll be back on the other side with more from the financial analyst, Steve.
[16:41.040 --> 16:42.040]  Hello, Austin.
[16:42.040 --> 16:47.040]  My name is Harlan Deidre, owner of Brave New Books, a local independent bookstore here
[16:47.040 --> 16:48.040]  in town.
[16:48.040 --> 16:49.040]  Many of you are familiar with the bookstore and have attended some of our events.
[16:49.040 --> 16:50.040]  We've been proud to host speakers like Alex Jones, Ron Paul, Jim Mars, Katherine Albert,
[16:50.040 --> 16:51.040]  Webster Carpley, Geobert Griffin, and many other heroic figures in the patriot movement.
[16:51.040 --> 16:52.040]  But now, Brave New Books needs your help.
[16:52.040 --> 17:10.080]  In order to continue to provide a space for these events and be an outlet for hard to
[17:10.080 --> 17:13.960]  find materials, we're going to need you, Austin, to help spread the word about the
[17:13.960 --> 17:14.960]  bookstore.
[17:14.960 --> 17:18.960]  Please tell your friends and family about the wide variety of materials we offer.
[17:18.960 --> 17:22.600]  We also have DVD duplication capabilities for all you activists.
[17:22.600 --> 17:26.480]  Also, if you haven't visited us yet, please come down and show your support.
[17:26.480 --> 17:30.680]  It is so easy to support the big corporate chain stores that do nothing to further our
[17:30.680 --> 17:31.680]  message.
[17:31.680 --> 17:33.680]  Remember, you vote with your dollars.
[17:33.680 --> 17:34.680]  We're counting on you, Austin.
[17:34.680 --> 17:42.320]  If you need any information, please call 512-480-2503 or visit us at 1904 Guadalupe Street.
[17:42.320 --> 17:57.720]  Thank you, everyone.
[17:57.720 --> 18:19.960]  Thank you, everybody.
[18:27.720 --> 18:44.000]  All right, Justice is the Goal.
[18:44.000 --> 18:47.920]  We're here with Steve, the financial analyst, he's been on before.
[18:47.920 --> 18:49.960]  We're so happy to have him back.
[18:49.960 --> 18:55.800]  And okay, so we were talking about these politicians and even Ron Paul and before we go back to
[18:55.800 --> 19:01.520]  that, I just want to mention Steve, earlier you had, you were talking about this, basically
[19:01.520 --> 19:09.080]  the situation or like the quote recovery and we're hearing all over the place, this jobless
[19:09.080 --> 19:10.080]  recovery.
[19:10.080 --> 19:14.800]  And I'm thinking jobless recovery, that's like a waterless shower.
[19:14.800 --> 19:15.800]  Right.
[19:15.800 --> 19:19.600]  Okay, that's like a bowl of cereal with no milk.
[19:19.600 --> 19:20.880]  Okay, give me a break.
[19:20.880 --> 19:24.960]  So anyway, yeah, back to the politicians issue, please continue.
[19:24.960 --> 19:31.840]  Well, the jobless recovery, isn't that like an atmosphere devoid of oxygen?
[19:31.840 --> 19:34.360]  Right.
[19:34.360 --> 19:39.840]  Any recovery we could ever have, see, this is what I meant by the politicians, I wouldn't
[19:39.840 --> 19:45.640]  hire one of them, not one of them to run a McDonald's.
[19:45.640 --> 19:50.280]  Because if you don't have the basic tenets of economics, I mean, the real basic stuff,
[19:50.280 --> 19:55.920]  how are you supposed to lead a multi-trillion dollar economy?
[19:55.920 --> 20:01.480]  You know, I'd be amazed if you asked any politician real quick, how many zeros in a trillion?
[20:01.480 --> 20:03.520]  They wouldn't know.
[20:03.520 --> 20:06.840]  You know, a hundred billion here, a hundred billion there, now we're talking about some
[20:06.840 --> 20:09.400]  real money, right?
[20:09.400 --> 20:15.040]  And for a recovery to ever happen, we have to have the following ingredients in our recovery
[20:15.040 --> 20:17.840]  cake, okay?
[20:17.840 --> 20:25.800]  We have to have some kind of flushing out of whatever the problem was that began a contraction.
[20:25.800 --> 20:33.120]  The crisis that we keep hearing about is caused by credit problems and debt problems.
[20:33.120 --> 20:37.880]  Too many people went too far into debt to buy too much crap made in China, who's planning
[20:37.880 --> 20:41.920]  on using the money to kill us all, by the way.
[20:41.920 --> 20:47.200]  We have, oh here, I don't want to go off on another tangent, I'm sorry, I'll stop myself
[20:47.200 --> 20:48.200]  early.
[20:48.200 --> 20:54.760]  One of the things that we also need before we can have a recovery is an admittal of what
[20:54.760 --> 20:56.800]  did we do wrong?
[20:56.800 --> 21:00.680]  Because if you can't admit and know what you did wrong, all you're going to do is repeat
[21:00.680 --> 21:07.600]  the exact same thing over again, so the recovery, if there was any, would be short-lived.
[21:07.600 --> 21:12.080]  Another thing that we're going to need for a recovery as a country is we're going to
[21:12.080 --> 21:15.120]  need people to go back to work.
[21:15.120 --> 21:23.840]  Right now we're running record deficits, record trade deficits, financial deficits, everywhere
[21:23.840 --> 21:26.680]  you want to look.
[21:26.680 --> 21:31.020]  As more people lose jobs, they spend less money.
[21:31.020 --> 21:35.320]  They're not going to go into debt, even if they could find somebody crazy enough to give
[21:35.320 --> 21:39.680]  them money, they're not going to take it, because they don't believe in their heart
[21:39.680 --> 21:42.720]  they're going to be able to pay it back, and most people are very honest.
[21:42.720 --> 21:47.840]  They don't know that the banks never had any money, that the banks created out of thin
[21:47.840 --> 21:52.360]  air and loaned it to them at interest, and the interest was never created.
[21:52.360 --> 21:54.680]  They don't have any concept of this stuff.
[21:54.680 --> 21:55.680]  They're good people.
[21:55.680 --> 21:59.200]  Their brains aren't wired to be evil.
[21:59.200 --> 22:06.360]  Their brains are wired to be decent and kind and respectable.
[22:06.360 --> 22:10.440]  When they see all these things going on in the news, their jaws drop, they get scared,
[22:10.440 --> 22:17.400]  they pull back, and in the meantime, our government right now is projecting that next year's budget
[22:17.400 --> 22:20.600]  deficit is going to be over $1.5 trillion.
[22:20.600 --> 22:28.000]  That'd be another brand new record low for our country, and at the same time we're going
[22:28.000 --> 22:34.760]  to have to raise about $2.5 trillion worth of capital through the bond market so we can
[22:34.760 --> 22:40.840]  fund all sorts of little debt beat projects and useless things that our government wastes
[22:40.840 --> 22:43.160]  our money on.
[22:43.160 --> 22:50.280]  Over the next calendar year, we have to finance somehow $3.5 trillion, and specifically that
[22:50.280 --> 22:57.680]  $2 trillion is short-term debt from a bunch of credit junkies, which we've become as a
[22:57.680 --> 22:58.680]  nation.
[22:58.680 --> 23:03.320]  As we went deeper and deeper into debt, we had to finance, borrowing money from people
[23:03.320 --> 23:07.120]  at shorter-dated maturities.
[23:07.120 --> 23:12.920]  I might have in the past borrowed money for 15 years, and then I needed more money and
[23:12.920 --> 23:20.720]  couldn't afford to refinance per se, but if I dropped my note down to 10 years, my interest
[23:20.720 --> 23:27.120]  rate would be cheaper, so I could refinance and flip my debt, and I could use the even
[23:27.120 --> 23:32.520]  lower interest rate to say, haha, I have more cash flow at the end of the month, and being
[23:32.520 --> 23:37.320]  a good little Washington politician, I found not only how to spend that immediately, but
[23:37.320 --> 23:41.360]  then I found ways and invented ways to spend even more money we don't have, so we raised
[23:41.360 --> 23:44.200]  the debt ceiling.
[23:44.200 --> 23:50.120]  So until these rudimentary issues are addressed, not even fixed, they're just addressed and
[23:50.120 --> 23:58.440]  admitted and talked about, the jobless recovery is an illusion, it's a mirage, and every time
[23:58.440 --> 24:06.200]  somebody loses a job, doesn't the government lose tax receipts?
[24:06.200 --> 24:11.320]  So if they're already projecting we're going to be $1.5 trillion in the hole, and we have
[24:11.320 --> 24:18.320]  to somehow refinance $2 trillion in calendar year 2010, where the hell are we ever going
[24:18.320 --> 24:20.280]  to get $3.5 trillion from?
[24:20.280 --> 24:23.320]  It's not going to come from foreigners.
[24:23.320 --> 24:29.240]  Europe, all of Asia, I think they've had enough of us.
[24:29.240 --> 24:35.040]  I think the big money out there is starting to really sense the twilight is here.
[24:35.040 --> 24:39.320]  The ship is running aground, or the ship is hitting the fan.
[24:39.320 --> 24:45.520]  Steve, let me ask you something, aren't they already discussing at some of these major
[24:45.520 --> 24:53.640]  economic summits, these world powers and other places, what their next reserve currency is
[24:53.640 --> 24:54.640]  going to be?
[24:54.640 --> 24:58.560]  Aren't they openly talking about it at these GI summits and stuff?
[24:58.560 --> 25:01.400]  They're not openly talking about anything.
[25:01.400 --> 25:04.520]  You don't have the right to know that information.
[25:04.520 --> 25:09.080]  In our free economy, you're free to do what we tell you to.
[25:09.080 --> 25:13.040]  You're not free to make any real choices, because the minute you start doing anything
[25:13.040 --> 25:19.720]  that would break the mold, I'll make it illegal.
[25:19.720 --> 25:23.800]  As far as what do they report, okay, they give some snippets out there, because things
[25:23.800 --> 25:29.680]  are getting so bad, even people who have never paid attention to economics in their life
[25:29.680 --> 25:32.160]  are looking around going, I need some answers.
[25:32.160 --> 25:33.160]  What is happening here?
[25:33.160 --> 25:34.160]  I don't know what to do.
[25:34.160 --> 25:39.680]  I go to work every day, I work hard, I'm good with my family, I'm a good husband, I'm a
[25:39.680 --> 25:46.720]  good wife, I'm a good family member, and I'm really unsure, because everywhere I look,
[25:46.720 --> 25:50.280]  I see decimation.
[25:50.280 --> 25:52.280]  People aren't stupid.
[25:52.280 --> 25:54.880]  They know something is really wrong.
[25:54.880 --> 25:59.040]  The powers that be are starting to say, well, you know what, we better tell these idiots
[25:59.040 --> 26:00.040]  something.
[26:00.040 --> 26:05.280]  They let out little snippets here and little snippets there, but any decision, anything
[26:05.280 --> 26:12.240]  of value on any level that's being talked about, I guarantee you is not public information.
[26:12.240 --> 26:17.080]  It's all being disclosed behind closed doors for a reason.
[26:17.080 --> 26:21.960]  If the entire nation knew what we have talked about in the past, radio shows you've had
[26:21.960 --> 26:26.800]  me on, and what we're going to talk about tonight, the lid of this country would blow
[26:26.800 --> 26:29.160]  right off.
[26:29.160 --> 26:34.480]  In the hardest thing for people to deal with, even the listeners of your show tonight, you
[26:34.480 --> 26:37.680]  could know all this information cold.
[26:37.680 --> 26:41.160]  You could make good call after good call after good call.
[26:41.160 --> 26:43.320]  I've been doing it for 20 years.
[26:43.320 --> 26:49.360]  It's rare many people take me serious, because the things I'm talking about don't dovetail
[26:49.360 --> 26:55.880]  with the... I'm trying to be nice here... with the information that they hear on the general
[26:55.880 --> 26:56.880]  media.
[26:56.880 --> 27:02.800]  And a lot of it's not uplifting and positive and warm and fuzzy and dressed in little pink
[27:02.800 --> 27:03.800]  slippers.
[27:03.800 --> 27:06.200]  That's what I started to complain about.
[27:06.200 --> 27:09.800]  You're not telling me what I want to hear.
[27:09.800 --> 27:12.200]  That's right.
[27:12.200 --> 27:17.160]  I'm never going to, because frankly, I don't give a crap.
[27:17.160 --> 27:23.080]  I will speak the truth, and I'll do the best I can to inform and educate.
[27:23.080 --> 27:28.840]  But as anybody on this listening tonight is looking for, I want something that'll calm
[27:28.840 --> 27:29.840]  me.
[27:29.840 --> 27:32.720]  I'm looking for something as raw entertainment.
[27:32.720 --> 27:36.120]  And I want to hear something that'll make me feel warm and fuzzy.
[27:36.120 --> 27:38.440]  Man, you might as well tune out right now.
[27:38.440 --> 27:40.520]  It's not going to happen.
[27:40.520 --> 27:45.160]  I can't live like that, and my conscience won't let me.
[27:45.160 --> 27:53.480]  Well, this is the one thing we seldom get, and that's the last thing that our government
[27:53.480 --> 27:56.080]  and our politicians are going to tell us.
[27:56.080 --> 28:01.840]  I tell people all the time that if you have a problem with a company, go to the president.
[28:01.840 --> 28:07.480]  Go to the guy who took the money out of his pocket and put into the business to make it
[28:07.480 --> 28:08.480]  work.
[28:08.480 --> 28:13.000]  Because all those people who are working for him, if they screw up real bad, are they going
[28:13.000 --> 28:20.240]  to go to the boss and say, oh, you know, boss, look here, I really screwed up real bad?
[28:20.240 --> 28:22.920]  Our politicians are the same way with us.
[28:22.920 --> 28:27.680]  They're not going to tell us.
[28:27.680 --> 28:35.200]  And the problem is, is the vast majority of us out here don't want to hear that.
[28:35.200 --> 28:41.800]  We want to hear that everything's all smiley and rosy and don't worry about it.
[28:41.800 --> 28:43.680]  Everything's going to be OK.
[28:43.680 --> 28:47.680]  We got it handled while we're going down the tubes.
[28:47.680 --> 28:52.800]  Well, you know what, I mean, this is like a two-sided coin, OK?
[28:52.800 --> 28:58.240]  The positive thing I can bring to the table as far as, you know, commenting on these things,
[28:58.240 --> 29:01.320]  it's we are still American.
[29:01.320 --> 29:04.800]  This is still our country.
[29:04.800 --> 29:08.560]  However, let me predicate that with something.
[29:08.560 --> 29:16.920]  It's ours truly when we decide we want to take it back.
[29:16.920 --> 29:18.920]  Absolutely.
[29:18.920 --> 29:27.120]  Well, that's what we're trying to do, that's what we're doing the best we can.
[29:27.120 --> 29:29.120]  One step at a time.
[29:29.120 --> 29:32.520]  All right, we'll be right back.
[29:32.520 --> 29:39.000]  And I agree, Steve, you know, we've got a lot in us.
[29:39.000 --> 29:44.600]  We'll be right back.
[29:44.600 --> 29:47.760]  Are you the plaintiff or defendant in a lawsuit?
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[30:48.760 --> 31:18.000]  Thank you very much, and God bless you, and God bless you, and God bless you, and God
[31:18.000 --> 31:33.440]  bless you, and God bless you, and God bless you.
[31:33.440 --> 31:59.160]  Thank you very much, and God bless you, and God bless you, and God bless you, and God
[31:59.160 --> 32:19.120]  bless you, and God bless you, and God bless you, and God bless you.
[32:19.120 --> 32:42.920]  Thank you very much, and God bless you, and God bless you, and God bless you, and God
[32:42.920 --> 32:43.920]  bless you.
[32:43.920 --> 32:49.400]  I'm here, I'm just struggling to fight off the depression.
[32:49.400 --> 32:54.200]  Actually I'm not.
[32:54.200 --> 33:00.440]  I know this is going to be a difficult time, and when we were going off the air I was thinking
[33:00.440 --> 33:08.360]  about the Aztecs and how they predicted this as the end of times, but not as the end of
[33:08.360 --> 33:13.360]  the world, just the end of the world as we knew it, and I thought it was most interesting
[33:13.360 --> 33:19.440]  that you made the comment that we were at the end of a cycle that began in the Dark
[33:19.440 --> 33:20.440]  Ages.
[33:20.440 --> 33:24.120]  Well, that was something I mentioned briefly off air.
[33:24.120 --> 33:31.760]  I'm still okay, yeah, that's right, it was off air, but the timing is right, and the
[33:31.760 --> 33:43.720]  Indians believed that the world cycled in epochs, that we went along for a long period
[33:43.720 --> 33:50.920]  of time and then would be a major change and everything would sort of start all over again,
[33:50.920 --> 33:57.200]  and I think we're ready for a cleansing, and I suspect we're going to get it whether we
[33:57.200 --> 33:59.840]  like it or not.
[33:59.840 --> 34:05.200]  I know my parents when they talked about the depression, they talked about how difficult
[34:05.200 --> 34:18.600]  things were, but there was a camaraderie, a coming together unlike any other time, and
[34:18.600 --> 34:24.600]  I have more confidence in people.
[34:24.600 --> 34:31.280]  If they have the opportunity to be lazy, they will be lazy, but when they don't have that
[34:31.280 --> 34:37.520]  opportunity anymore, they will do what they have to do, and it's not in the nature of
[34:37.520 --> 34:44.120]  the human animal in hard times to turn on one another, and we get a lot of predictions
[34:44.120 --> 34:45.960]  in that direction.
[34:45.960 --> 34:48.120]  It's not in our nature.
[34:48.120 --> 34:54.520]  We are humans heard, when times get bad, we gather together just like a bunch of cattle
[34:54.520 --> 34:55.520]  out there.
[34:55.520 --> 35:00.200]  When there's a wolf around, they all gather together for protection from one another.
[35:00.200 --> 35:06.360]  I suspect this is going to be some very hard times, but we'll all come out stronger for
[35:06.360 --> 35:07.360]  it.
[35:07.360 --> 35:21.360]  What I'm looking for is what skills, what knowledge do I need to develop concerning
[35:21.360 --> 35:29.200]  the money issues so that when things get difficult and the sleeping giant finally stands up and
[35:29.200 --> 35:38.040]  says, enough of this crapola, how do I help my politicians make the right decisions?
[35:38.040 --> 35:41.960]  Put them on commission.
[35:41.960 --> 35:43.440]  That's a good, quick, easy answer.
[35:43.440 --> 35:46.440]  Well, you're on the rack.
[35:46.440 --> 35:48.200]  No, no, no.
[35:48.200 --> 35:54.760]  Let me start that answer with, if there is going to be violence, or there is going to
[35:54.760 --> 36:03.640]  be a usurping move, like a true revolution, then all is lost, because it really comes
[36:03.640 --> 36:11.640]  down to people putting political pressure together in some even remotely organized form,
[36:11.640 --> 36:15.960]  where people start realizing what we have here.
[36:15.960 --> 36:21.120]  There was a movie once, Brewster's Millions, with Richard Pryor, and there were a couple
[36:21.120 --> 36:26.640]  of little lines in that movie that I will, frankly, never, ever forget.
[36:26.640 --> 36:35.480]  One of them was, why would a politician spend $30 million to get a $200,000 a year job unless
[36:35.480 --> 36:39.080]  he planned on stealing it back with interest?
[36:39.080 --> 36:45.040]  Today, we don't use it... Well, if we talk about politicians, we never use the words
[36:45.040 --> 36:49.880]  fraud, bribe, graft, scam.
[36:49.880 --> 36:52.560]  We call it political contributions.
[36:52.560 --> 36:54.560]  We call it politicism.
[36:54.560 --> 36:56.560]  Isn't that nice?
[36:56.560 --> 36:58.160]  Isn't that warm and fuzzy?
[36:58.160 --> 37:00.800]  There goes the little pink flippers again, right?
[37:00.800 --> 37:03.720]  Wait, who's this we?
[37:03.720 --> 37:05.200]  You got a mouse in your pocket?
[37:05.200 --> 37:06.200]  That's hilarious.
[37:06.200 --> 37:07.200]  I call them criminals.
[37:07.200 --> 37:10.440]  I call them murderers.
[37:10.440 --> 37:14.160]  You do, and I do, but let's try to remember something.
[37:14.160 --> 37:17.680]  The people that are listening tonight, these are not average folks.
[37:17.680 --> 37:25.120]  These are awakened giants, and they all have family and friends and loved ones that I can
[37:25.120 --> 37:29.560]  almost guarantee you, if we take some open line tonight, we're going to hear from a handful
[37:29.560 --> 37:33.200]  of people saying, yes, I'm embarrassed.
[37:33.200 --> 37:37.360]  I go to talk to friends and family and try to tell them what's in front of their face,
[37:37.360 --> 37:39.480]  and they look at me with hatred.
[37:39.480 --> 37:42.560]  They don't want to hear it, like you said earlier, Randy.
[37:42.560 --> 37:44.120]  They want everything to be good.
[37:44.120 --> 37:49.760]  They already have it tough because of inflation, because of the way things are run.
[37:49.760 --> 37:50.880]  There's no honest money.
[37:50.880 --> 37:52.040]  There are no free markets.
[37:52.040 --> 37:55.320]  The whole thing's an illusion, and because of that...
[37:55.320 --> 38:00.920]  How dare you say something to me that doesn't sound rosy and positive?
[38:00.920 --> 38:01.920]  Well, you know...
[38:01.920 --> 38:04.120]  It's something I've known all my life.
[38:04.120 --> 38:05.120]  Okay, yeah.
[38:05.120 --> 38:06.120]  Okay.
[38:06.120 --> 38:14.080]  I think that attitude was more prevalent in the past, but because of this bailout, there's
[38:14.080 --> 38:18.040]  a huge debacle.
[38:18.040 --> 38:26.920]  Even the sheeple, the sleeping people, are starting to get pretty mad because what happened
[38:26.920 --> 38:27.920]  to the money?
[38:27.920 --> 38:31.480]  What happened to the bailout money?
[38:31.480 --> 38:36.200]  Now people are starting to get upset because it's digging in their pockets, and so I think
[38:36.200 --> 38:40.120]  that that's helping somewhat.
[38:40.120 --> 38:50.000]  It's like even though, yeah, it's a huge debacle, but still, it can work in our favor because
[38:50.000 --> 39:01.680]  it's such a huge, huge scam in everyone's face that even the common totally asleep person
[39:01.680 --> 39:13.320]  out there, Joe Sixpack, is starting to raise an eyebrow over this stuff.
[39:13.320 --> 39:17.040]  When I started doing radio, there was a lot of talk about people who were asleep and people
[39:17.040 --> 39:19.080]  who were awake.
[39:19.080 --> 39:20.080]  We never hear that anymore.
[39:20.080 --> 39:21.080]  Because they're all asleep.
[39:21.080 --> 39:22.080]  No.
[39:22.080 --> 39:26.440]  If you're not awake now, you're in a coma.
[39:26.440 --> 39:33.880]  The problem that people are having is they're awake, but what they're seeing is so out of
[39:33.880 --> 39:43.080]  their norm that there's still, a lot of them are still struggling with cognitive dissonance,
[39:43.080 --> 39:46.680]  but things are such a terrible mess.
[39:46.680 --> 39:52.440]  They're having to face up to the fact that now we're going to have to stand up and do
[39:52.440 --> 39:54.440]  things that are uncomfortable.
[39:54.440 --> 39:59.840]  When it starts hitting their pocketbook, that's when they start waking up.
[39:59.840 --> 40:05.380]  When they lose their job, when they lose their house, when they can't put their kids in college
[40:05.380 --> 40:14.520]  like they planned and saved up for for 18 years, when it starts to hit the pocketbook,
[40:14.520 --> 40:20.840]  when they can't buy their beer, that's when they start to say, okay, what's wrong?
[40:20.840 --> 40:23.120]  What the heck is going on here?
[40:23.120 --> 40:25.640]  What politicians do we need to blame for this?
[40:25.640 --> 40:26.960]  Every single one of them.
[40:26.960 --> 40:27.960]  Absolutely.
[40:27.960 --> 40:28.960]  Every single one of them.
[40:28.960 --> 40:29.960]  You know what?
[40:29.960 --> 40:31.600]  Randy really got me going on something.
[40:31.600 --> 40:34.960]  I didn't want to interrupt either one of you, but I've got to come back to this.
[40:34.960 --> 40:35.960]  Of course.
[40:35.960 --> 40:36.960]  Politics.
[40:36.960 --> 40:37.960]  You want to reform?
[40:37.960 --> 40:39.160]  I love simple.
[40:39.160 --> 40:44.200]  I love to keep things as simple as possible because it's the unintelligent man that overcomplicates
[40:44.200 --> 40:47.480]  everything and loses everybody.
[40:47.480 --> 40:51.720]  So what's the fastest way we could reform politics?
[40:51.720 --> 40:56.440]  We all pay money in taxes and some level or another, okay?
[40:56.440 --> 41:00.760]  Why don't we take some of the federal money like before the next Bozo the circus round
[41:00.760 --> 41:06.360]  comes through town and we're going to elect, let's say, the next president, okay?
[41:06.360 --> 41:10.760]  Well how about there are no more campaign contributions?
[41:10.760 --> 41:17.120]  If you receive a dollar handed out from anybody, you go to prison, okay?
[41:17.120 --> 41:19.480]  We take a certain amount of money.
[41:19.480 --> 41:26.280]  Let's say $30 million per major candidate and we as the taxpayers will pay for them
[41:26.280 --> 41:29.560]  to go on television.
[41:29.560 --> 41:36.080]  Not print ads, not nonsense and bumper stickers and just a waste of time and money, but let's
[41:36.080 --> 41:42.600]  have nonstop debates on TV where every one of the candidates is actually heard from.
[41:42.600 --> 41:49.200]  Not, well we have, you know, Mr. Obama and we have, you know, this clown and that clown
[41:49.200 --> 41:52.880]  and we're going to, and believe me, they're all clowns, okay?
[41:52.880 --> 41:56.600]  But we're going to hear from each and every one of them equally.
[41:56.600 --> 42:00.280]  Not give any of them preferential treatment because they just don't look like they're
[42:00.280 --> 42:05.480]  as good of a viable alternative or they might not get as many votes or you have too much
[42:05.480 --> 42:15.440]  truth to say and all of them get to voice their comments and without the political contribution,
[42:15.440 --> 42:21.400]  you don't have a man or a woman going into office owing a favor and owing a death.
[42:21.400 --> 42:29.180]  Yeah, and also that way the big corporations can't control who the, which politicians
[42:29.180 --> 42:33.640]  are going to get into which office and also the mainstream media won't be able to control
[42:33.640 --> 42:38.520]  the debates and kick certain candidates out of the debates like what they did to Ron Paul.
[42:38.520 --> 42:43.880]  I think that's a great idea, Steve, national, it's almost like nationalizing the campaign
[42:43.880 --> 42:44.880]  process.
[42:44.880 --> 42:45.880]  It'd be much better.
[42:45.880 --> 42:49.560]  Well, actually I would say let them do all the fundraising they want because every penny
[42:49.560 --> 42:53.560]  of it goes into one large pot and is equally divided among all the candidates that are
[42:53.560 --> 42:55.680]  eligible and signed up.
[42:55.680 --> 43:01.120]  You can't do it because the minute, let's say it's the three of us running for office,
[43:01.120 --> 43:04.280]  who did I get my money from?
[43:04.280 --> 43:09.880]  Even if they say, yes, I gave it to Steve because we like his platform, that money goes
[43:09.880 --> 43:16.440]  into the general window, but when I get elected, man, I know who gave me the money.
[43:16.440 --> 43:25.760]  They want something for their money and it's not going to be good for any of you.
[43:25.760 --> 43:30.960]  I guess maybe, I guess maybe if only donations could be made to the general fund and not
[43:30.960 --> 43:31.960]  to a politician.
[43:31.960 --> 43:32.960]  That's what I'm saying.
[43:32.960 --> 43:35.400]  They can get anybody to kick in, they like.
[43:35.400 --> 43:36.920]  Just to the general fund though.
[43:36.920 --> 43:37.920]  Exactly.
[43:37.920 --> 43:39.440]  Okay, listen, we'll be right back.
[43:39.440 --> 43:44.000]  We're going to break.
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[45:04.280 --> 45:16.280]  Okay, we are back.
[45:16.280 --> 45:18.920]  Them are murderers, liars, okay.
[45:18.920 --> 45:26.680]  They tell a sick story, these politicians, that's our song, Citizens Arrest, okay.
[45:26.680 --> 45:31.280]  So at any rate, what Eddie was saying before we went on the break, I believe, Eddie, if
[45:31.280 --> 45:37.520]  you clarify, people, entities, corporations, whoever can make campaign contributions, but
[45:37.520 --> 45:42.360]  they can't make any contributions to the politicians directly.
[45:42.360 --> 45:46.160]  They can only contribute to the general campaign fund.
[45:46.160 --> 45:48.640]  Is that right, Eddie?
[45:48.640 --> 45:49.640]  That's right.
[45:49.640 --> 45:50.640]  That's great.
[45:50.640 --> 45:51.640]  Oh, goodness.
[45:51.640 --> 45:52.640]  That's awesome.
[45:52.640 --> 46:00.120]  Steve, so what are you saying about the- I want to go back to talking about put them
[46:00.120 --> 46:01.120]  on commission.
[46:01.120 --> 46:02.120]  Yes, yes.
[46:02.120 --> 46:05.080]  We were going to finish up with a campaign fund and then we're going to go to this commission
[46:05.080 --> 46:06.080]  thing.
[46:06.080 --> 46:07.080]  So please.
[46:07.080 --> 46:12.240]  Well, I don't think you could have some kind of general fund or some kind of like, Deborah,
[46:12.240 --> 46:17.880]  I think actually hit the label right on the head, okay.
[46:17.880 --> 46:26.440]  You can't have a nationalistic election system without- with having your- the President of
[46:26.440 --> 46:30.880]  the United States getting paid $400,000 a year.
[46:30.880 --> 46:32.160]  And I say that for a reason.
[46:32.160 --> 46:34.920]  Take a look at what's happened over the last year and a half.
[46:34.920 --> 46:38.360]  We all know that the banks went kaput.
[46:38.360 --> 46:39.360]  Credits seized up.
[46:39.360 --> 46:41.360]  There's all these problems.
[46:41.360 --> 46:48.560]  A handful of majors were in such disarray financially that we had to bail them out or
[46:48.560 --> 46:51.720]  the entire system of the world would have collapsed.
[46:51.720 --> 46:55.920]  That was the economic gun put to the taxpayer, right?
[46:55.920 --> 47:02.880]  Well, one of the things that came up is like we loaned money through Goldman Sachs as one
[47:02.880 --> 47:05.360]  example.
[47:05.360 --> 47:12.640]  Goldman Sachs had a counterparty to a boatload of derivatives called AIG and AIG got hundreds
[47:12.640 --> 47:21.920]  of billions of dollars in bailout money so they could pay 100% on the dollar for all
[47:21.920 --> 47:26.200]  the counterparty risk that they took which a lot of them just happened to go right to
[47:26.200 --> 47:34.000]  like Goldman Sachs whose megamaniacal leader just said a couple weeks ago, they're doing
[47:34.000 --> 47:36.720]  God's work.
[47:36.720 --> 47:42.000]  I'd like to know what definition of God they use but we can talk about that some other
[47:42.000 --> 47:43.000]  time.
[47:43.000 --> 47:50.360]  These people got all this bailout money and they have had one of the best years in their
[47:50.360 --> 47:52.240]  life history this year.
[47:52.240 --> 47:55.800]  They've made so much money, even the money they've borrowed they only have to pay like
[47:55.800 --> 48:01.480]  1% tax on it because they're getting all these assistant programs to get the lending system
[48:01.480 --> 48:02.840]  back on its feet.
[48:02.840 --> 48:08.560]  They made so much darn money they're giving out $30 billion worth of bonuses.
[48:08.560 --> 48:13.960]  Now $30 billion might not sound like a whole lot of money anymore but when the average
[48:13.960 --> 48:23.720]  bonus turns out to be $350,000 now we're really talking about what the hell is going on here.
[48:23.720 --> 48:30.640]  We have politicians that obviously are in bed one way or another either directly with
[48:30.640 --> 48:35.400]  the banks or directly through Wall Street or both.
[48:35.400 --> 48:41.160]  If we want to ever see an end to this when you have the president of the United States
[48:41.160 --> 48:51.560]  making what a mid or low level Goldman Sachs employee's Christmas bonus is, that's a recipe
[48:51.560 --> 48:53.040]  for disaster.
[48:53.040 --> 48:59.160]  I wouldn't pay a kid at McDonald's $600 an hour to flip a hamburger and I wouldn't expect
[48:59.160 --> 49:05.080]  the president of the United States, the commander in chief of the world's most powerful military
[49:05.080 --> 49:07.880]  to make $400,000.
[49:07.880 --> 49:09.960]  What are you kidding me?
[49:09.960 --> 49:15.280]  This guy should be getting paid $2 billion a year on commission.
[49:15.280 --> 49:20.120]  When you get our country running in the black, you get a piece of the pie.
[49:20.120 --> 49:25.360]  If the average American isn't doing well, you don't get squat.
[49:25.360 --> 49:29.960]  If you get a loan or a bailout from a major company while you're going through this, off
[49:29.960 --> 49:37.360]  to jail you go and until people start seeing that and taking it serious and putting that
[49:37.360 --> 49:43.960]  kind of economic pressure on the politicians and expecting and demanding their true and
[49:43.960 --> 49:52.560]  earnest support, their true and earnest dedication to the electorate, until that happens, we
[49:52.560 --> 49:58.480]  don't have one snowball's chance of ever coming out of this.
[49:58.480 --> 50:03.040]  I think the worse it gets, the more the politicians are going to say, hey, we're the ones who
[50:03.040 --> 50:04.720]  got you into this.
[50:04.720 --> 50:08.560]  We won't admit it, we'll blame it on somebody else.
[50:08.560 --> 50:12.760]  We have the solution to get you out of it.
[50:12.760 --> 50:19.280]  That to me sounds a lot like the kid who wants to work at McDonald's that wants $600 an hour.
[50:19.280 --> 50:20.280]  It's insane.
[50:20.280 --> 50:23.760]  Let me predict what they would say.
[50:23.760 --> 50:29.440]  We got you into this by spending too much of your money and now we have some plans to
[50:29.440 --> 50:34.600]  get you out of it by spending some more of your money.
[50:34.600 --> 50:40.040]  Try to imagine, Randy, you're standing in front of a big swimming pool and it's a big
[50:40.040 --> 50:48.120]  pool, like an Olympic-sized pool, but it has a kiddy section where the bottom just barely
[50:48.120 --> 50:54.960]  goes down so a little toddler can walk 10 or 15 feet and be one foot deep in water.
[50:54.960 --> 50:59.960]  If you want to look at the lower end of the economic scale in the United States as being
[50:59.960 --> 51:04.760]  standing in the low end of the pool and then you have the big fat cats in the last three
[51:04.760 --> 51:08.880]  inches of the pool that has no bottom.
[51:08.880 --> 51:13.360]  What these clowns are talking about saying we're going to spend our way out of this,
[51:13.360 --> 51:15.720]  number one, we have no money.
[51:15.720 --> 51:16.720]  There is no money.
[51:16.720 --> 51:17.720]  We have debt.
[51:17.720 --> 51:19.720]  Our entire system runs on debt.
[51:19.720 --> 51:20.720]  There is no money.
[51:20.720 --> 51:22.340]  We don't use constitutional money.
[51:22.340 --> 51:25.800]  We paper it over with legalism and call it legal tender because they're a little green
[51:25.800 --> 51:30.400]  coupon, that's your money, folks.
[51:30.400 --> 51:34.840]  This money that we're going to spend, this debt we're going to create, my children are
[51:34.840 --> 51:43.720]  going to have to pay, is going to be spent to help create jobs and work fair and the
[51:43.720 --> 51:44.720]  like.
[51:44.720 --> 51:46.400]  We have the automakers about that go belly up.
[51:46.400 --> 51:47.400]  What did we do?
[51:47.400 --> 51:48.400]  Cash for clunkers.
[51:48.400 --> 51:55.400]  Debra, if I blow it here, please tell me and I'll really watch myself, but I can't even
[51:55.400 --> 52:02.040]  comprehend what kind of absolute jackass thinks we're going to spend $10 on every car for
[52:02.040 --> 52:05.360]  $1 of fuel savings and call it a good idea.
[52:05.360 --> 52:08.120]  No, that's fine.
[52:08.120 --> 52:10.280]  That's fine.
[52:10.280 --> 52:13.120]  I can't believe what these people come up with.
[52:13.120 --> 52:17.760]  Yeah, there's a handful of people that really benefited from that and there's an equal amount
[52:17.760 --> 52:22.560]  of people who completely scammed the system.
[52:22.560 --> 52:28.640]  They created an artificial demand in a short period of time for cars that people normally
[52:28.640 --> 52:33.560]  under these circumstances wouldn't have bought until mid-year next year.
[52:33.560 --> 52:38.080]  So now what are these car companies going to do?
[52:38.080 --> 52:41.520]  This whole stimulation thing, it's an illusion.
[52:41.520 --> 52:43.320]  It doesn't work.
[52:43.320 --> 52:49.500]  It never is going to work because again, we're not talking about the free market because
[52:49.500 --> 52:52.560]  we can't get our act straight as a nation.
[52:52.560 --> 52:55.240]  Do we have a free economy or not?
[52:55.240 --> 53:00.960]  If we do, then tell these politicians to shut up, sit down and get out of my pocketbook.
[53:00.960 --> 53:04.120]  I'm the type of person who will create jobs.
[53:04.120 --> 53:09.960]  We are the type of people who will further the economic power and prowess of the United
[53:09.960 --> 53:10.960]  States of America.
[53:10.960 --> 53:15.080]  Throw the politicians into it, they're going to sell everything off, bankrupt the whole
[53:15.080 --> 53:19.800]  thing, and then say, we need your money and your children's money to get us back on our
[53:19.800 --> 53:20.800]  feet.
[53:20.800 --> 53:22.800]  It's absurd.
[53:22.800 --> 53:30.280]  Unfortunately, until people start putting pressure on the politicians of, I'm watching
[53:30.280 --> 53:31.280]  you.
[53:31.280 --> 53:32.280]  I lost my job.
[53:32.280 --> 53:34.200]  I've been looking for work for months.
[53:34.200 --> 53:35.560]  I can't find a new job.
[53:35.560 --> 53:40.760]  I've got nothing better to do than to read every bill that crossed your desk.
[53:40.760 --> 53:43.160]  I'm going to start keeping score.
[53:43.160 --> 53:50.480]  I hear friends and family, I go over to their house on a weekend, and I can't even comprehend
[53:50.480 --> 53:54.440]  the amount of trivial information they know about sports.
[53:54.440 --> 53:58.720]  This guy on this team did this, and he did that, and he has this many points, and he
[53:58.720 --> 54:01.560]  has all these statistics.
[54:01.560 --> 54:05.480]  Could you imagine if we could take that kind of brain power just for one year?
[54:05.480 --> 54:07.160]  You want to rebuild the country, folks?
[54:07.160 --> 54:08.160]  Let's try this.
[54:08.160 --> 54:10.280]  Take one year off of sports.
[54:10.280 --> 54:14.560]  All these little prima donna perfumed princes that run around and bounce a ball, throw a
[54:14.560 --> 54:18.560]  ball, smack a ball, whatever.
[54:18.560 --> 54:22.480]  We make them go work for a little while, so a family of four doesn't have to spend like
[54:22.480 --> 54:26.560]  200 bucks to watch their magic.
[54:26.560 --> 54:31.080]  All that brain power goes into, I'm going to stop watching what these guys and gals
[54:31.080 --> 54:36.120]  do, and I'm going to watch my local and state politician.
[54:36.120 --> 54:41.560]  I'm going to track every doggone move they make, every bill they vote for, every appearance
[54:41.560 --> 54:43.400]  they make in the House or Senate.
[54:43.400 --> 54:49.680]  I'm going to know more about them than any particular star there is, because that baseball,
[54:49.680 --> 54:55.600]  football, tennis, basketball, golf, whatever, that star, are you kidding me?
[54:55.600 --> 55:00.240]  Do you think they give a poop about you?
[55:00.240 --> 55:05.080]  Does that really enhance your life, or is it just a very short-term band-aid of entertainment?
[55:05.080 --> 55:10.120]  If you want entertainment, get out of debt, make some money, regrow our country, put us
[55:10.120 --> 55:11.840]  back on the map.
[55:11.840 --> 55:13.720]  You're going to go Christmas shopping?
[55:13.720 --> 55:23.080]  My biggest goal of the entire season of Christmas, not happy holidays, is to try to find every
[55:23.080 --> 55:27.100]  single thing I can that is not made in China.
[55:27.100 --> 55:32.240]  If I can't find a replacement, I'm on to the next item, and I will skip it this year.
[55:32.240 --> 55:37.240]  I'm not buying anything made in China for anybody I care and love about.
[55:37.240 --> 55:38.240]  That's the whole idea.
[55:38.240 --> 55:43.480]  I'm supposed to be recreating what the wise men did when they came to the major after
[55:43.480 --> 55:45.360]  the birth of Jesus Christ.
[55:45.360 --> 55:53.960]  Do you think they would have went to Walmart?
[55:53.960 --> 55:58.080]  These are the things that, as a people, we can do.
[55:58.080 --> 56:02.580]  We overcome like no nation this planet has ever seen before.
[56:02.580 --> 56:06.880]  That is the true American spirit.
[56:06.880 --> 56:09.040]  How perfect are your teeth?
[56:09.040 --> 56:11.480]  How many square feet do you live in?
[56:11.480 --> 56:15.520]  How much crap could you buy on credit made in China?
[56:15.520 --> 56:17.400]  That's not us.
[56:17.400 --> 56:18.860]  That's not us.
[56:18.860 --> 56:20.500]  Maybe we made a mistake.
[56:20.500 --> 56:26.800]  Maybe we fell off the proverbial wagon for a while, so everybody sins.
[56:26.800 --> 56:33.600]  The real difference of what's going to make or break us in world history is did we admit
[56:33.600 --> 56:36.800]  we need a 12-step program?
[56:36.800 --> 56:41.280]  Did we admit that, yeah, we kind of blew it here.
[56:41.280 --> 56:43.040]  All is not lost.
[56:43.040 --> 56:48.880]  All I have to do is pick myself up, dust myself off, and change.
[56:48.880 --> 56:53.720]  If we do that, if we could get 10% of the people in the United States to do that, we
[56:53.720 --> 57:00.320]  will flip this country around in two years, and I mean radically transform this nation
[57:00.320 --> 57:02.080]  in two short years.
[57:02.080 --> 57:05.040]  It would freak out everybody on earth.
[57:05.040 --> 57:16.080]  When I was overseas, people overseas, the one thing that they most envied about Americans
[57:16.080 --> 57:23.300]  was their individuality, was their ability to act, each one individually, completely
[57:23.300 --> 57:26.920]  on their own.
[57:26.920 --> 57:30.980]  We can still do that.
[57:30.980 --> 57:37.160]  That gives your whole country of people who, when they get motivated, and when they realize
[57:37.160 --> 57:43.000]  they have to, will each one get out there and do what they have to do to get it done
[57:43.000 --> 57:44.920]  because it's in the American culture.
[57:44.920 --> 57:52.960]  A lot of other cultures simply don't have that, but that gives us the great advantage.
[57:52.960 --> 57:53.960]  Let me come back.
[57:53.960 --> 57:54.960]  I want to talk about commissions.
[57:54.960 --> 57:59.640]  You want to talk more about the commissions, Randy?
[57:59.640 --> 58:00.960]  That is pretty interesting.
[58:00.960 --> 58:03.560]  Yeah, about how we set that, how would we do that?
[58:03.560 --> 58:10.440]  Yeah, and I also maybe would like to ask Steve, he just gave this two-year timeline that we
[58:10.440 --> 58:12.080]  could turn the country around.
[58:12.080 --> 58:15.080]  Maybe Steve could extrapolate on that a little bit more.
[58:15.080 --> 58:18.520]  I'll give it a shot.
[58:18.520 --> 58:23.080]  And I also want to get into the metals market, too, of course, a lot to talk about.
[58:23.080 --> 58:25.480]  All right, we will be back.
[58:25.480 --> 58:33.320]  We have about a three-minute break coming up for the news, INN World Report radio.
[58:33.320 --> 58:34.880]  Tom Cawley is a member of INN World Report.
[58:34.880 --> 58:35.880]  He's the host on this network.
[58:35.880 --> 58:36.880]  We'll be right back.
[58:36.880 --> 58:56.120]  Thank you very much for joining us, and we'll see you in the next one.
[58:56.120 --> 59:24.680]  Thank you very much for joining us, and we'll see you in the next one.
[59:24.680 --> 59:53.240]  Thank you very much for joining us, and we'll see you in the next one.
[59:53.240 --> 01:00:21.800]  Thank you very much for joining us, and we'll see you in the next one.
[01:00:21.800 --> 01:00:50.160]  Thank you very much for joining us, and we'll see you in the next one.
[01:00:52.800 --> 01:01:00.240]  Military commissions at Guantanamo, which Barack Obama suspended after taking office,
[01:01:00.240 --> 01:01:06.160]  quietly resumed this week with new signs emerging of the legal complexities of the cases and
[01:01:06.160 --> 01:01:08.760]  the challenges facing prosecutors.
[01:01:08.760 --> 01:01:14.400]  The military court had to decide where defendant Ibrahim Ahmed Mahmoud Alkosy stood under the
[01:01:14.400 --> 01:01:21.600]  new military commissions law enacted in October to provide more due process for detainees.
[01:01:21.600 --> 01:01:27.080]  Under the old system, Kosi and other detainees were called unlawful enemy competence, but
[01:01:27.080 --> 01:01:33.880]  the new law refers to them as alien, unprivileged enemy belligerence, a definition military prosecutors
[01:01:33.880 --> 01:01:37.720]  say is more in line with the Geneva Conventions.
[01:01:37.720 --> 01:01:42.920]  The government said it wanted to amend the charges against Kosi to reflect the new language,
[01:01:42.920 --> 01:01:47.160]  but his defense attorneys argued that a separate court hearing was necessary.
[01:01:47.160 --> 01:01:54.400]  The military judge agreed Thursday and set a hearing for January 6th.
[01:01:54.400 --> 01:01:58.600]  James Hansen, the scientist who convinced the world to take notice of the danger of
[01:01:58.600 --> 01:02:04.040]  global warming, says it would be better for the planet if next week's Copenhagen climate
[01:02:04.040 --> 01:02:06.320]  change summit ended in collapse.
[01:02:06.320 --> 01:02:11.920]  Hansen said any agreement likely to emerge from the negotiations would be so deeply flawed
[01:02:11.920 --> 01:02:14.800]  it would be better to start again from scratch.
[01:02:14.800 --> 01:02:20.360]  Hansen is vehemently opposed to carbon market schemes in which permits to pollute are bought
[01:02:20.360 --> 01:02:26.560]  and sold and is also fiercely critical of Barack Obama and even Al Gore who won a Nobel
[01:02:26.560 --> 01:02:31.040]  Peace Prize for his efforts to get the world to act on climate change.
[01:02:31.040 --> 01:02:35.680]  In Hansen's view, dealing with climate change allows no room for compromise.
[01:02:35.680 --> 01:02:40.480]  He added, we don't have a leader who is able to grasp it and say what is really needed.
[01:02:40.480 --> 01:02:47.480]  Instead we are trying to continue business as usual.
[01:03:11.480 --> 01:03:19.480]  I read his book and it says he cares not for the unsightly
[01:03:19.480 --> 01:03:28.480]  These warmongers come by that term rightly
[01:03:28.480 --> 01:03:31.480]  I won't pay for the war with my fight
[01:03:31.480 --> 01:03:34.480]  Ain't gonna pay for the car with my money
[01:03:34.480 --> 01:03:38.480]  I won't pay for the fun with my fight
[01:03:38.480 --> 01:03:41.480]  Their plans wicked and their logic shoddy
[01:03:41.480 --> 01:03:44.480]  Ain't gonna pay for the war with my fight
[01:03:44.480 --> 01:03:48.480]  I won't pay for the boys with my money
[01:03:48.480 --> 01:03:52.480]  Ain't gonna pay for the kids with my fight
[01:03:52.480 --> 01:03:55.480]  The whole agenda smells funny
[01:03:55.480 --> 01:03:59.480]  I wanna fight in a war of money
[01:03:59.480 --> 01:04:03.480]  Okay we are back with Steve the financial analyst
[01:04:03.480 --> 01:04:12.480]  and Randy you had a question concerning how we would actually go about setting up this commission system
[01:04:12.480 --> 01:04:20.480]  and this nationalized campaign process and then after that Steve I'd like you to address this two year window
[01:04:20.480 --> 01:04:27.480]  that you mentioned and what we could actually do in these two years to make all these good things happen
[01:04:27.480 --> 01:04:29.480]  that you were talking about.
[01:04:29.480 --> 01:04:37.480]  I'm an engineer by my nature and when we mentioned something like commissions for politicians
[01:04:37.480 --> 01:04:43.480]  the idea to me sounds good but right away I start looking at implementation
[01:04:43.480 --> 01:04:53.480]  how specifically would we go about setting up a system where a politician earns his pay by commission.
[01:04:53.480 --> 01:05:01.480]  And also how are we going to get the politicians to change the laws regarding how campaigns are funded etc.
[01:05:01.480 --> 01:05:04.480]  because they like the way it is now how are we going to get them to change.
[01:05:04.480 --> 01:05:07.480]  That's our job voting them out.
[01:05:07.480 --> 01:05:11.480]  Okay so go ahead Steve.
[01:05:11.480 --> 01:05:14.480]  Steve is Steve there?
[01:05:14.480 --> 01:05:16.480]  Sorry about that I had my mute button.
[01:05:16.480 --> 01:05:18.480]  Okay go ahead.
[01:05:18.480 --> 01:05:22.480]  Well first things first we are going to address the commission.
[01:05:22.480 --> 01:05:30.480]  To make it feasible we have to give some kind of financial incentive for any elected official
[01:05:30.480 --> 01:05:39.480]  which I like to just call them employees not you know lawmakers and elected officials
[01:05:39.480 --> 01:05:43.480]  and all these other titles of nobility which we are not supposed to do anyway
[01:05:43.480 --> 01:05:48.480]  because they are my employees.
[01:05:48.480 --> 01:06:00.480]  And frankly I'm really concerned because I see a big union of idiotic, lazy, cowardice of my employees.
[01:06:00.480 --> 01:06:03.480]  They put this big union together so they could strong arm me.
[01:06:03.480 --> 01:06:05.480]  They want more benefits.
[01:06:05.480 --> 01:06:08.480]  This healthcare crap we hear about.
[01:06:08.480 --> 01:06:16.480]  I don't have any problem trying to get the drug makers to not spend 10 cents making a pill and charging $11 for it.
[01:06:16.480 --> 01:06:18.480]  I don't have a problem with that.
[01:06:18.480 --> 01:06:19.480]  Make it reasonable.
[01:06:19.480 --> 01:06:22.480]  Maybe windfall profits tax.
[01:06:22.480 --> 01:06:25.480]  There has to be research and development money or they won't do it
[01:06:25.480 --> 01:06:28.480]  but there is a solution somewhere in the middle.
[01:06:28.480 --> 01:06:37.480]  When you have a politician whose sole goal is to make as many deals and favors as he can
[01:06:37.480 --> 01:06:41.480]  we are never going to get we the people to benefit.
[01:06:41.480 --> 01:06:48.480]  So to me it comes down to numbers as an economist, as somebody who does financial analysis.
[01:06:48.480 --> 01:06:50.480]  To me it's all about numbers.
[01:06:50.480 --> 01:06:56.480]  If I don't watch the news and I just rely on the numbers and facts that I see
[01:06:56.480 --> 01:06:59.480]  I generally don't tend to get as emotional.
[01:06:59.480 --> 01:07:08.480]  The less emotion that I have the clearer I can think and the more realistic my end result is going to be.
[01:07:08.480 --> 01:07:12.480]  You have to get over worrying about what an individual makes.
[01:07:12.480 --> 01:07:18.480]  We are hearing a lot of talk about limit this banker, limit this stock guy, limit their pay.
[01:07:18.480 --> 01:07:21.480]  No, put them on commission.
[01:07:21.480 --> 01:07:30.480]  If what you do for me as my employee does not work you just don't get paid.
[01:07:30.480 --> 01:07:32.480]  You don't get anything.
[01:07:32.480 --> 01:07:40.480]  The health care thing, we have a plan or a series of draconian ideas out there.
[01:07:40.480 --> 01:07:50.480]  Now go ask anybody in the House or in Congress if this passes are you going to have the same health care?
[01:07:50.480 --> 01:07:53.480]  They'll laugh at you.
[01:07:53.480 --> 01:07:54.480]  Of course not.
[01:07:54.480 --> 01:07:58.480]  They get ten times the health care we get.
[01:07:58.480 --> 01:08:00.480]  And I don't care how much you're paying for it.
[01:08:00.480 --> 01:08:06.480]  You'll never see the Ivy League specialist as your doctor.
[01:08:06.480 --> 01:08:13.480]  You're never going to see the most advanced machinery and stuff on earth in your hospital.
[01:08:13.480 --> 01:08:15.480]  But they do.
[01:08:15.480 --> 01:08:26.480]  When you have somebody like Hillary Clinton who gets a jet to fly around on that could seat 300 or 350 people
[01:08:26.480 --> 01:08:32.480]  and maybe she brings 20, I saw the example from Ross Perot.
[01:08:32.480 --> 01:08:36.480]  Remember how everybody picked on him and marginalized him?
[01:08:36.480 --> 01:08:46.480]  When they were doing the debates, this genius, this self-made from nothing billionaire, he showed up in a rented car.
[01:08:46.480 --> 01:08:53.480]  All the delegates going to the debate, they had limos and they actually had a contest going.
[01:08:53.480 --> 01:08:59.480]  I'm showing up for the debate, my team had 14 limos, how many did yours?
[01:08:59.480 --> 01:09:05.480]  And then they asked Perot at the time, well, where's all your support group?
[01:09:05.480 --> 01:09:07.480]  Where's your limos?
[01:09:07.480 --> 01:09:08.480]  What support group?
[01:09:08.480 --> 01:09:11.480]  I can answer a question, I'm a man.
[01:09:11.480 --> 01:09:16.480]  Somebody asked me a question, I don't need to consult with 11 people and put everything on pause
[01:09:16.480 --> 01:09:20.480]  while I figure out what the heck to say as I wet my finger and stick it up in the air.
[01:09:20.480 --> 01:09:22.480]  He just knew right from wrong.
[01:09:22.480 --> 01:09:26.480]  That's how he became a billionaire.
[01:09:26.480 --> 01:09:34.480]  And he didn't have an entourage, he didn't spend $10 million just to show up for a single debate.
[01:09:34.480 --> 01:09:41.480]  This guy got on like value jet, flew over to the area where they were having it, rented a $30 a day car,
[01:09:41.480 --> 01:09:47.480]  showed up, gave his answers and performance and he went home.
[01:09:47.480 --> 01:09:49.480]  Could you imagine that?
[01:09:49.480 --> 01:09:53.480]  Not like Hillary Clinton who gets her own airliner.
[01:09:53.480 --> 01:10:00.480]  It couldn't even be like a G550, you know, a $10 million private liquor jet.
[01:10:00.480 --> 01:10:03.480]  It has to be a hundred ton vehicle.
[01:10:03.480 --> 01:10:13.480]  And this same sociopath is out there talking about how much we need to pay attention to global warming.
[01:10:13.480 --> 01:10:14.480]  That's hilarious.
[01:10:14.480 --> 01:10:20.480]  Global warming, you get 20 people on a plane that's supposed to move around 300 or 400 people.
[01:10:20.480 --> 01:10:23.480]  Well, she probably warmed up a lot of the globe with that jet.
[01:10:23.480 --> 01:10:25.480]  Well, that's what I'm getting at.
[01:10:25.480 --> 01:10:29.480]  When you don't have accountability, you have insanity.
[01:10:29.480 --> 01:10:31.480]  Now, keep something in mind.
[01:10:31.480 --> 01:10:34.480]  I'm going to get back to where I started with this.
[01:10:34.480 --> 01:10:35.480]  It's all about the numbers.
[01:10:35.480 --> 01:10:37.480]  Numbers never lie.
[01:10:37.480 --> 01:10:39.480]  People lie.
[01:10:39.480 --> 01:10:42.480]  We need to come up with a simple formula.
[01:10:42.480 --> 01:10:49.480]  And I don't mean let the House do this in a Chamber in debate for the next 26 years while, you know,
[01:10:49.480 --> 01:10:54.480]  Nero is fiddling while Rome burns.
[01:10:54.480 --> 01:10:59.480]  I mean, we make it real simple because if you can't tell the American people in a two-minute,
[01:10:59.480 --> 01:11:02.480]  actually a one-minute sound bite, guess what?
[01:11:02.480 --> 01:11:04.480]  Never going to happen.
[01:11:04.480 --> 01:11:12.480]  So we make it some like President Obama, if you actually cut off all the losers, freaks,
[01:11:12.480 --> 01:11:17.480]  beats and criminals that you know and you actually turn our country around,
[01:11:17.480 --> 01:11:25.480]  we will give you one-tenth of one percent of every dime of gross domestic product this country produces.
[01:11:25.480 --> 01:11:31.480]  Now, one-tenth of one percent doesn't sound like much unless you're talking about a trillion dollars.
[01:11:31.480 --> 01:11:35.480]  Now, imagine the President of the United States making a billion dollars a year.
[01:11:35.480 --> 01:11:37.480]  Now we're talking.
[01:11:37.480 --> 01:11:39.480]  Are we or are we not a free market?
[01:11:39.480 --> 01:11:44.480]  Are we or are we not the most powerful nation in the world?
[01:11:44.480 --> 01:11:46.480]  If you want to talk about economics...
[01:11:46.480 --> 01:11:48.480]  Now you're the most gullible lately.
[01:11:48.480 --> 01:11:52.480]  Well, gullibility leads to destruction.
[01:11:52.480 --> 01:11:56.480]  My people were destroyed for a lack of knowledge.
[01:11:56.480 --> 01:12:02.480]  That came out of a really good book I know, the Bible.
[01:12:02.480 --> 01:12:06.480]  If we don't have the knowledge and we don't know what's happening, all is lost.
[01:12:06.480 --> 01:12:11.480]  If people aren't willing to stop some of the normal routine, and I don't mean forever,
[01:12:11.480 --> 01:12:17.480]  and I'm not going to chastise or, heaven forbid, I'm going to judge anybody on what they do with their free time,
[01:12:17.480 --> 01:12:20.480]  but just for a while, can we stop now?
[01:12:20.480 --> 01:12:24.480]  Does every sport now have to be extreme?
[01:12:24.480 --> 01:12:26.480]  Does everything have to be extreme?
[01:12:26.480 --> 01:12:31.480]  How about extreme, let's pay attention and fix the broken car?
[01:12:31.480 --> 01:12:36.480]  How about let's be extreme and flush the toilet in Washington?
[01:12:36.480 --> 01:12:45.480]  If you don't do what we, your employers, tell you to, we will, in essence, economically tarn feather you.
[01:12:45.480 --> 01:12:47.480]  We will make you a laughing stock.
[01:12:47.480 --> 01:12:54.480]  We will permanently blacklist you or anybody in your gene pool from ever having public office again.
[01:12:54.480 --> 01:12:57.480]  How's that for a start?
[01:12:57.480 --> 01:13:03.480]  In every one of our elected officials, our employees need to go on commission.
[01:13:03.480 --> 01:13:07.480]  If you do a crummy job, you don't get health care forever.
[01:13:07.480 --> 01:13:13.480]  You don't get your full pay for the rest of your life, even though you serve two terms.
[01:13:13.480 --> 01:13:15.480]  Does any of us get that?
[01:13:15.480 --> 01:13:17.480]  No, I'm an employer.
[01:13:17.480 --> 01:13:21.480]  I don't pay my employees five times what I make.
[01:13:21.480 --> 01:13:23.480]  They didn't put the best interest that I did.
[01:13:23.480 --> 01:13:25.480]  Why should I?
[01:13:25.480 --> 01:13:27.480]  That's free market.
[01:13:27.480 --> 01:13:31.480]  If I'm not paying you enough and you really feel you have the skills, get out there.
[01:13:31.480 --> 01:13:32.480]  There's the door.
[01:13:32.480 --> 01:13:37.480]  Don't let it hit you in the can on the way out and go beat me.
[01:13:37.480 --> 01:13:44.480]  Or let's keep working together, keep your nose down, and let's get back to work.
[01:13:44.480 --> 01:13:52.480]  And until our nation starts really addressing it on that level, on that guttural of a realistic level,
[01:13:52.480 --> 01:13:54.480]  don't complain, folks.
[01:13:54.480 --> 01:14:02.480]  Don't complain at all when the second stimulus plan kicks in in the second quarter of 2010
[01:14:02.480 --> 01:14:09.480]  because the first one that we had to have, or it would be financial arm again, remember that?
[01:14:09.480 --> 01:14:16.480]  The big $700-plus billion bailout probably came out to be more like $4 trillion,
[01:14:16.480 --> 01:14:19.480]  but we can't talk about that.
[01:14:19.480 --> 01:14:26.480]  Half of the money from that bailout plan, folks, has yet to be spent.
[01:14:26.480 --> 01:14:35.480]  Wasn't that appropriated a year ago, put into action nine months ago?
[01:14:35.480 --> 01:14:43.480]  Now, what would be the rationale for obviously we have all these lots of jobs, even the cash for clunkers?
[01:14:43.480 --> 01:14:45.480]  Everybody in the country has heard about that program.
[01:14:45.480 --> 01:14:46.480]  It was only a handful.
[01:14:46.480 --> 01:14:52.480]  It was like $5 billion, grotesque mismanagement and waste.
[01:14:52.480 --> 01:14:57.480]  But for Pete's sake, at least a handful of Americans got a decent break on a car.
[01:14:57.480 --> 01:15:02.480]  Maybe they really needed it to get to work for the few left who can work.
[01:15:02.480 --> 01:15:08.480]  And maybe it was actually more economical to run, so it would save them money on their monthly gas bill.
[01:15:08.480 --> 01:15:09.480]  Hey, that's cool.
[01:15:09.480 --> 01:15:11.480]  I'm good for that.
[01:15:11.480 --> 01:15:16.480]  But spending $10 for every dollar saved, sorry, you're fired.
[01:15:16.480 --> 01:15:18.480]  You don't get a second chance.
[01:15:18.480 --> 01:15:19.480]  You're too stupid for a second chance.
[01:15:19.480 --> 01:15:22.480]  You're fired.
[01:15:22.480 --> 01:15:26.480]  But the other half of the bailout is being held in reserve on purpose.
[01:15:26.480 --> 01:15:30.480]  It's called political strategy.
[01:15:30.480 --> 01:15:36.480]  We're going to hold that back so after the New Year, when all is at the bleakest,
[01:15:36.480 --> 01:15:40.480]  you know, the Christmas sales account for anywhere between 50
[01:15:40.480 --> 01:15:46.480]  and 85 percent of most major retailers' gross sales for a year.
[01:15:46.480 --> 01:15:50.480]  January is usually the hangover month.
[01:15:50.480 --> 01:15:52.480]  People have done their shopping.
[01:15:52.480 --> 01:16:02.480]  A lot of people are going to take on debt to buy plastic and waste of plastic products made in China or other countries.
[01:16:02.480 --> 01:16:07.480]  And come January, all this pent spending will have run its course.
[01:16:07.480 --> 01:16:12.480]  There will be some January after Christmas sales, and then we're looking at a quagmire.
[01:16:12.480 --> 01:16:17.480]  Now these little politician grease balls will open up the spigots once again.
[01:16:17.480 --> 01:16:20.480]  And I want to get back, right back to this after the break.
[01:16:20.480 --> 01:16:22.480]  All right.
[01:16:22.480 --> 01:16:24.480]  This is awesome stuff, Steve.
[01:16:24.480 --> 01:16:27.480]  I love it.
[01:16:27.480 --> 01:16:34.480]  We'll open up the phone lines later in the show, but we definitely got to keep Steve on point right now.
[01:16:34.480 --> 01:16:36.480]  This is just too good.
[01:16:36.480 --> 01:16:43.480]  We'll be right back.
[01:16:43.480 --> 01:16:44.480]  Hello, Austin.
[01:16:44.480 --> 01:16:48.480]  My name is Harlan Dietrich, owner of Brave New Books, a local independent bookstore here in town.
[01:16:48.480 --> 01:16:52.480]  Many of you are familiar with the bookstore and have attended some of our events.
[01:16:52.480 --> 01:16:58.480]  We've been proud to host speakers like Alex Jones, Ron Paul, Jim Mars, Catherine Albert, Wester Carpley, G. Edward Griffin,
[01:16:58.480 --> 01:17:01.480]  and many other heroic figures in the patriot movement.
[01:17:01.480 --> 01:17:03.480]  But now Brave New Books needs your help.
[01:17:03.480 --> 01:17:08.480]  In order to continue to provide a space for these events and be an outlet for hard-to-find materials,
[01:17:08.480 --> 01:17:12.480]  we're going to need you, Austin, to help spread the word about the bookstore.
[01:17:12.480 --> 01:17:16.480]  Please tell your friends and family about the wide variety of materials we offer.
[01:17:16.480 --> 01:17:20.480]  We also have DVD duplication capabilities for all you activists.
[01:17:20.480 --> 01:17:24.480]  Also, if you haven't visited us yet, please come down and show your support.
[01:17:24.480 --> 01:17:29.480]  It is so easy to support the big corporate chain stores that do nothing to further our message.
[01:17:29.480 --> 01:17:31.480]  Remember, you vote with your dollars.
[01:17:31.480 --> 01:17:32.480]  We're counting on you, Austin.
[01:17:32.480 --> 01:17:39.480]  If you need any information, please call 512-480-2503 or visit us at 1904 Guadalupe Street.
[01:17:39.480 --> 01:18:00.480]  Thank you, everyone.
[01:18:00.480 --> 01:18:01.480]  Okay, we're back.
[01:18:01.480 --> 01:18:03.480]  So, Steve, you're going to pick up right where you left off.
[01:18:03.480 --> 01:18:06.480]  You're saying this will get them to open the spigots again.
[01:18:06.480 --> 01:18:08.480]  Please continue.
[01:18:08.480 --> 01:18:09.480]  Okay.
[01:18:09.480 --> 01:18:15.480]  One of the big things going on in the political world is going to be the constituency is screaming
[01:18:15.480 --> 01:18:17.480]  and clamoring right now.
[01:18:17.480 --> 01:18:23.480]  The initial sales, like Black Friday, the day after, the Friday after Thanksgiving,
[01:18:23.480 --> 01:18:29.480]  is generally one of the biggest retail push things that we're going to see all year long.
[01:18:29.480 --> 01:18:35.480]  And they do that to try to get a good gauge of where is the consumer, what is moving this year.
[01:18:35.480 --> 01:18:37.480]  Oh, these items are moving quick.
[01:18:37.480 --> 01:18:39.480]  Call the factory, get more of them on the way.
[01:18:39.480 --> 01:18:43.480]  So over the next couple of weeks, we could be dumping these things out
[01:18:43.480 --> 01:18:44.480]  and make the highest amount of profit.
[01:18:44.480 --> 01:18:45.480]  We can't.
[01:18:45.480 --> 01:18:47.480]  That's why stores are in business.
[01:18:47.480 --> 01:18:52.480]  Politicians do the same thing, but they're lacking a couple of quintessential elements here.
[01:18:52.480 --> 01:18:54.480]  Number one, they don't work.
[01:18:54.480 --> 01:18:55.480]  They don't have a job.
[01:18:55.480 --> 01:18:57.480]  They don't come up with the money.
[01:18:57.480 --> 01:18:59.480]  They don't make any of the products.
[01:18:59.480 --> 01:19:02.480]  And everything that they touch turns crap.
[01:19:02.480 --> 01:19:05.480]  So barring that, okay,
[01:19:05.480 --> 01:19:10.480]  come the beginning of next year when this whole thing slows down in January
[01:19:10.480 --> 01:19:13.480]  after the big Christmas sales,
[01:19:13.480 --> 01:19:16.480]  if you think there's layoffs and problems now, wait,
[01:19:16.480 --> 01:19:20.480]  60 days from now it's going to go up dramatically.
[01:19:20.480 --> 01:19:26.480]  Now, in on the white horses with trumpets of blazing come our wonderful employees,
[01:19:26.480 --> 01:19:33.480]  all charged up with gusto and enthusiasm about how they are going to cure our ills.
[01:19:33.480 --> 01:19:38.480]  And they're going to do it with pomp and circumstance and bread and circuses.
[01:19:38.480 --> 01:19:43.480]  And a lot of it's going to come straight out of your pocket, folks,
[01:19:43.480 --> 01:19:47.480]  because come the first and second quarter of 2010,
[01:19:47.480 --> 01:19:49.480]  we're going to see a big rush,
[01:19:49.480 --> 01:19:55.480]  a dip into the piggy bank of that last half of the bailout money from nine months ago,
[01:19:55.480 --> 01:20:02.480]  because these little cretins fully understand how useless they really are.
[01:20:02.480 --> 01:20:06.480]  And they don't do anything without a plan, okay?
[01:20:06.480 --> 01:20:11.480]  They might appear to be incompetent, but most of them are actually very brilliant.
[01:20:11.480 --> 01:20:14.480]  How else do you rip off the most powerful wealthy nation on earth
[01:20:14.480 --> 01:20:17.480]  and not get tired and feathered?
[01:20:17.480 --> 01:20:19.480]  Right?
[01:20:19.480 --> 01:20:22.480]  So when this money starts getting spent
[01:20:22.480 --> 01:20:28.480]  and then you start seeing the political ads for, hey, reelect me.
[01:20:28.480 --> 01:20:32.480]  I know I didn't do much last year, but look what I'm doing now.
[01:20:32.480 --> 01:20:33.480]  I love you.
[01:20:33.480 --> 01:20:37.480]  I care for you, the American working man.
[01:20:37.480 --> 01:20:43.480]  These clowns couldn't be any more further removed from us, the American, if you wanted it.
[01:20:43.480 --> 01:20:46.480]  We're at the absolute furthest stretch of the rubber band,
[01:20:46.480 --> 01:20:48.480]  the end of the bell curve of conformity.
[01:20:48.480 --> 01:20:50.480]  Come up with an analogy.
[01:20:50.480 --> 01:20:54.480]  We've been there, done that, and bought the T-shirt.
[01:20:54.480 --> 01:21:01.480]  And the saddest thing is as soon as they spend the next $300 billion,
[01:21:01.480 --> 01:21:05.480]  well, what's really going to come out of this?
[01:21:05.480 --> 01:21:11.480]  More wasteful spending on things that are not going to help in the long run
[01:21:11.480 --> 01:21:17.480]  that will further saddle us with debt, that debt will have to be repaid
[01:21:17.480 --> 01:21:22.480]  on some level or another with interest that was never created.
[01:21:22.480 --> 01:21:27.480]  So we have another extension of a guaranteed bankruptcy.
[01:21:27.480 --> 01:21:31.480]  Now, before summertime of next year, the results from all this stuff
[01:21:31.480 --> 01:21:33.480]  are going to be so terrible,
[01:21:33.480 --> 01:21:40.480]  there's already stuff on legislators' desks right now for the second bailout stimulus plan.
[01:21:40.480 --> 01:21:42.480]  Now, here's how this works.
[01:21:42.480 --> 01:21:48.480]  The same criminal bankers that get to have adjusted accounting rules,
[01:21:48.480 --> 01:21:52.480]  yeah, all my assets are worth five cents on the dollar.
[01:21:52.480 --> 01:21:53.480]  It's all paper.
[01:21:53.480 --> 01:21:55.480]  So I just tell my local politician,
[01:21:55.480 --> 01:21:59.480]  if you don't let me just make up a number of what that paper is worth,
[01:21:59.480 --> 01:22:01.480]  we're going to have a depression.
[01:22:01.480 --> 01:22:03.480]  You'll be tart and feather.
[01:22:03.480 --> 01:22:04.480]  Oh, tart and feather.
[01:22:04.480 --> 01:22:05.480]  Oh, my gosh.
[01:22:05.480 --> 01:22:09.480]  And they run in closed session or open vote,
[01:22:09.480 --> 01:22:13.480]  you know, where there's no record of who actually voted it up or down.
[01:22:13.480 --> 01:22:15.480]  And what happens?
[01:22:15.480 --> 01:22:17.480]  We get relaxed banking standards.
[01:22:17.480 --> 01:22:19.480]  We get relaxed accounting rules.
[01:22:19.480 --> 01:22:22.480]  And the bankers who caused the problems in the first place
[01:22:22.480 --> 01:22:25.480]  then get to jump up and down and say, aha,
[01:22:25.480 --> 01:22:30.480]  those bonds that I once bought and valued at a dollar that one year ago
[01:22:30.480 --> 01:22:38.480]  I couldn't sell for 15 cents on the dollar are now worth 96.5 cents on the dollar.
[01:22:38.480 --> 01:22:40.480]  It makes them look real strong.
[01:22:40.480 --> 01:22:46.480]  And these same people are going to be falling on their face when the next shoe drops,
[01:22:46.480 --> 01:22:48.480]  which is commercial real estate.
[01:22:48.480 --> 01:22:51.480]  It's already starting to fall apart.
[01:22:51.480 --> 01:22:52.480]  I live in Illinois.
[01:22:52.480 --> 01:22:59.480]  Any time I go driving around, I'm seeing one strip mall, one mall after another
[01:22:59.480 --> 01:23:02.480]  with tons of vacant space.
[01:23:02.480 --> 01:23:06.480]  Well, it's vacant because the consumer is retracting.
[01:23:06.480 --> 01:23:13.480]  There is an unlimited, unbridled credit available from the housing ATM machine
[01:23:13.480 --> 01:23:17.480]  that just constantly goes up no matter what a bucket of crud it is
[01:23:17.480 --> 01:23:22.480]  or how unlivable or unneeded it really is.
[01:23:22.480 --> 01:23:27.480]  And without that easy access to credit, we're not making things in this country.
[01:23:27.480 --> 01:23:32.480]  I mean, if our country really relies on Deborah, if you do my laundry,
[01:23:32.480 --> 01:23:35.480]  you can come to my tanning salon.
[01:23:35.480 --> 01:23:41.480]  If that's what we have left, we have no chance of ever paying off these debts.
[01:23:41.480 --> 01:23:45.480]  When the second stimulus plan hits, it will be of desperation.
[01:23:45.480 --> 01:23:47.480]  People are going to hear this and say, you know what?
[01:23:47.480 --> 01:23:48.480]  I don't even care anymore.
[01:23:48.480 --> 01:23:50.480]  Give me the money.
[01:23:50.480 --> 01:23:54.480]  Yes, I'm going to build a bridge to nowhere, but it's going to be a great bridge.
[01:23:54.480 --> 01:24:00.480]  It will be made in America, and we're going to use Chinese steel.
[01:24:00.480 --> 01:24:03.480]  We need to pay attention, people.
[01:24:03.480 --> 01:24:06.480]  We need to stop being shy.
[01:24:06.480 --> 01:24:14.480]  We need to start flooding emails, fax machines, and telephone boards of the offices,
[01:24:14.480 --> 01:24:18.480]  the palatial offices of our employees.
[01:24:18.480 --> 01:24:25.480]  Stop spending and wasting my money, or I will make you look like the evil buffoon that you are.
[01:24:25.480 --> 01:24:30.480]  Try to take some of that intelligence and gift that God gave you
[01:24:30.480 --> 01:24:34.480]  and do something good with it, even for a year.
[01:24:34.480 --> 01:24:37.480]  It will make you a hero.
[01:24:37.480 --> 01:24:39.480]  I'll replace Tiger Woods.
[01:24:39.480 --> 01:24:41.480]  I couldn't help myself.
[01:24:41.480 --> 01:24:50.480]  I'll replace Tiger Woods with the President, because he didn't just smack a ball around,
[01:24:50.480 --> 01:24:52.480]  yes, Tiger is wonderful.
[01:24:52.480 --> 01:24:54.480]  I'm being facetious.
[01:24:54.480 --> 01:25:02.480]  But he actually did something that would affect the lives positively of 300 million people.
[01:25:02.480 --> 01:25:05.480]  That is what makes a hero.
[01:25:05.480 --> 01:25:10.480]  That a guy who goes out and plays a sport, takes all the glory for himself,
[01:25:10.480 --> 01:25:15.480]  and becomes a prima donna, who does that help?
[01:25:15.480 --> 01:25:19.480]  Well, again, I'm sure he gave money to charity and did some good stuff,
[01:25:19.480 --> 01:25:22.480]  but where's the priority?
[01:25:22.480 --> 01:25:30.480]  I want to watch TV and see a superstar in office.
[01:25:30.480 --> 01:25:35.480]  I want to see a man or a woman that has more talent in their little finger than I do in my whole body.
[01:25:35.480 --> 01:25:37.480]  Oh, and God help us all.
[01:25:37.480 --> 01:25:39.480]  I hope it's tomorrow.
[01:25:39.480 --> 01:25:44.480]  Because as far as I'm concerned, when I go voting next year,
[01:25:44.480 --> 01:25:49.480]  I will not vote for one single person who's currently holding office.
[01:25:49.480 --> 01:25:59.480]  I would rather have the stumbling, bumbling rookie than the entrenched fat cat loser.
[01:25:59.480 --> 01:26:02.480]  And by the way, the minute we get a chance,
[01:26:02.480 --> 01:26:08.480]  we need to be lighting up those call boards, emails, and fax machines with,
[01:26:08.480 --> 01:26:14.480]  if you have any decency and dignity, turn down your pension, turn down your health care,
[01:26:14.480 --> 01:26:17.480]  and stop policing us blind.
[01:26:17.480 --> 01:26:24.480]  Well, millions of American children are going hungry this Christmas season.
[01:26:24.480 --> 01:26:32.480]  Well, you gloat and live like a superstar, you pig.
[01:26:32.480 --> 01:26:36.480]  Yeah, I'm sorry, folks, that this is going to get into economics,
[01:26:36.480 --> 01:26:41.480]  but personally, I needed to get some of this stuff off my chest.
[01:26:41.480 --> 01:26:47.480]  Some of these things have to come before any of the economic solutions,
[01:26:47.480 --> 01:26:50.480]  because without them, they'll just steal it.
[01:26:50.480 --> 01:26:51.480]  They'll ruin it.
[01:26:51.480 --> 01:26:56.480]  Well, yes, Steve, that's fine, because it's kind of like the gorilla in the living room.
[01:26:56.480 --> 01:26:59.480]  You know, we've got to get the gorilla out of the living room first
[01:26:59.480 --> 01:27:02.480]  before we can, like, clean up the dishes in the sink, you know?
[01:27:02.480 --> 01:27:04.480]  Right, but, you know, the solutions aren't that hard.
[01:27:04.480 --> 01:27:06.480]  You want the gorilla out?
[01:27:06.480 --> 01:27:08.480]  Hey, gorilla, here's a banana.
[01:27:08.480 --> 01:27:09.480]  Look, it went out the window.
[01:27:09.480 --> 01:27:11.480]  Exactly. You got it.
[01:27:11.480 --> 01:27:12.480]  Hey, he's out of the window.
[01:27:12.480 --> 01:27:13.480]  Great.
[01:27:13.480 --> 01:27:16.480]  Now, throw another one or two out the yard, further and further from the house.
[01:27:16.480 --> 01:27:19.480]  The poor thing with a two-volt brain is going to forget where he came from
[01:27:19.480 --> 01:27:22.480]  and then just go find a tree.
[01:27:22.480 --> 01:27:24.480]  Same thing with the politicians.
[01:27:24.480 --> 01:27:26.480]  Stop giving them any attention.
[01:27:26.480 --> 01:27:29.480]  Stop allowing them to live better than you.
[01:27:29.480 --> 01:27:31.480]  I'm not saying let's hurt them.
[01:27:31.480 --> 01:27:33.480]  I'm not saying let's have violence.
[01:27:33.480 --> 01:27:35.480]  I'm not saying use your head.
[01:27:35.480 --> 01:27:37.480]  The pen is mightier than the sword.
[01:27:37.480 --> 01:27:42.480]  Club them up silly with their own poison.
[01:27:42.480 --> 01:27:47.480]  When you hear somebody trashing and bad-mouthing and marginalizing somebody
[01:27:47.480 --> 01:27:55.480]  like Ron Paul who wants to audit the Fed, are you kidding me?
[01:27:55.480 --> 01:28:00.480]  All he wants to do is go to a quasi-government institution.
[01:28:00.480 --> 01:28:02.480]  And let's review real quick.
[01:28:02.480 --> 01:28:04.480]  The Federal Reserve Bank.
[01:28:04.480 --> 01:28:07.480]  That's what they like to call themselves, right?
[01:28:07.480 --> 01:28:08.480]  It's not federal.
[01:28:08.480 --> 01:28:10.480]  There are no reserves.
[01:28:10.480 --> 01:28:13.480]  And it's not a bank.
[01:28:13.480 --> 01:28:16.480]  Lie, lie, lie.
[01:28:16.480 --> 01:28:19.480]  And that's such a big lie.
[01:28:19.480 --> 01:28:22.480]  Nobody really wants to hear about that.
[01:28:22.480 --> 01:28:29.480]  All Ron Paul is asking is, hey, we demand you start telling us what you're doing
[01:28:29.480 --> 01:28:31.480]  with our money.
[01:28:31.480 --> 01:28:33.480]  Oh, well, that's national security.
[01:28:33.480 --> 01:28:37.480]  If we were to tell people what exactly we've done and who we've helped,
[01:28:37.480 --> 01:28:41.480]  it would cause undue market turbulence and pressure on the companies
[01:28:41.480 --> 01:28:43.480]  that were in trouble.
[01:28:43.480 --> 01:28:46.480]  I think maybe they deserve to die.
[01:28:46.480 --> 01:28:52.480]  Maybe if we actually had a free market, not a hypocritical, tyrannical system,
[01:28:52.480 --> 01:28:58.480]  we wouldn't have to take bread and food away from the mouths of poor children
[01:28:58.480 --> 01:29:05.480]  to support fat cats getting $30 billion worth of Christmas bonus.
[01:29:05.480 --> 01:29:11.480]  If that doesn't make every single one of you want to power-vomit right now,
[01:29:11.480 --> 01:29:17.480]  you've lost part of your humanity.
[01:29:17.480 --> 01:29:20.480]  Good timing on the music.
[01:29:20.480 --> 01:29:22.480]  You tell them, Steve.
[01:29:22.480 --> 01:29:24.480]  We feel the same way.
[01:29:24.480 --> 01:29:26.480]  We feel the same way, brother.
[01:29:26.480 --> 01:29:29.480]  We absolutely feel the same way.
[01:29:29.480 --> 01:29:31.480]  I know the listeners do, too.
[01:29:31.480 --> 01:29:33.480]  We've got to put a stop to this.
[01:29:33.480 --> 01:29:34.480]  I know they do.
[01:29:34.480 --> 01:29:37.480]  All right, well, let's pause right there.
[01:29:37.480 --> 01:29:38.480]  We're going to break.
[01:29:38.480 --> 01:29:42.480]  We'll be right back.
[01:29:42.480 --> 01:29:45.480]  Are you the plaintiff or defendant in a lawsuit?
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[01:30:42.480 --> 01:31:11.480]  The way get done with temptation
[01:31:11.480 --> 01:31:15.480]  Okay, we are back with Steve, the financial analyst.
[01:31:15.480 --> 01:31:21.480]  Okay, so Steve, if you could just briefly or however long you think you need
[01:31:21.480 --> 01:31:26.480]  to address this two-year window thing of how we could turn all this around
[01:31:26.480 --> 01:31:27.480]  in two years.
[01:31:27.480 --> 01:31:29.480]  That really pricked my ear when you said that,
[01:31:29.480 --> 01:31:34.480]  because that's what we're going to be talking about in a minute.
[01:31:34.480 --> 01:31:41.480]  So how we could turn all this around in two years, that really pricked my ear
[01:31:41.480 --> 01:31:44.480]  when you said that, because number one, that's kind of a short timeframe,
[01:31:44.480 --> 01:31:48.480]  and number two, just hearing a specific number like that makes me think,
[01:31:48.480 --> 01:31:51.480]  well, you know something, you have a plan,
[01:31:51.480 --> 01:31:56.480]  so if you could please illuminate us on this subject.
[01:31:56.480 --> 01:32:00.480]  Well, I want to start this, and I'm going to try to do this quick,
[01:32:00.480 --> 01:32:04.480]  because there's a whole bunch of other stuff we really need to touch on tonight.
[01:32:04.480 --> 01:32:10.480]  The two-year window, I know one thing, I know my fellow American,
[01:32:10.480 --> 01:32:15.480]  and right now we could all say all the different things we see in each other
[01:32:15.480 --> 01:32:20.480]  that we don't like and we see in our politicians that we don't like.
[01:32:20.480 --> 01:32:24.480]  But frankly, unless we're willing to start moving and really changing,
[01:32:24.480 --> 01:32:28.480]  I don't mean like the catchphrase change you can believe in,
[01:32:28.480 --> 01:32:30.480]  because frankly it's been a year.
[01:32:30.480 --> 01:32:32.480]  I don't see squat.
[01:32:32.480 --> 01:32:36.480]  I don't see anything changed, anything.
[01:32:36.480 --> 01:32:40.480]  So until we can start, we're not going to do anything.
[01:32:40.480 --> 01:32:44.480]  We're just going to keep digging a hole in the ground.
[01:32:44.480 --> 01:32:46.480]  The only thing that would really get the country to move,
[01:32:46.480 --> 01:32:49.480]  and I use the two-year window because in the back of my head,
[01:32:49.480 --> 01:32:56.480]  I'm thinking of one of a handful of people I look at as financial heroes of mine.
[01:32:56.480 --> 01:32:58.480]  One of them is Ross Perot.
[01:32:58.480 --> 01:33:01.480]  No matter how much you want to pick on him for being short,
[01:33:01.480 --> 01:33:04.480]  which to me is cruel.
[01:33:04.480 --> 01:33:07.480]  It's like picking on someone for the color of their skin
[01:33:07.480 --> 01:33:10.480]  or picking on them because they have a disability.
[01:33:10.480 --> 01:33:13.480]  It's disgusting.
[01:33:13.480 --> 01:33:18.480]  Ross Perot, when he was a young man, when he hit rock bottom,
[01:33:18.480 --> 01:33:23.480]  he and his wife were living out of a station wagon in the street.
[01:33:23.480 --> 01:33:29.480]  Within a couple years, he got himself up, dusted himself off, started a company.
[01:33:29.480 --> 01:33:31.480]  Within a couple years after that,
[01:33:31.480 --> 01:33:36.480]  he was on the way to becoming a self-made billionaire.
[01:33:36.480 --> 01:33:39.480]  He didn't have committees.
[01:33:39.480 --> 01:33:43.480]  He didn't have a bunch of namby-pambies running around,
[01:33:43.480 --> 01:33:47.480]  delaying everything as far as possible.
[01:33:47.480 --> 01:33:49.480]  He would say, this needs to be done.
[01:33:49.480 --> 01:33:53.480]  What is the fastest, most expedient way we can accomplish our goals
[01:33:53.480 --> 01:33:56.480]  so we can reap the reward and go on to the next one?
[01:33:56.480 --> 01:33:58.480]  That's a hero.
[01:33:58.480 --> 01:34:00.480]  That's a politician.
[01:34:00.480 --> 01:34:09.480]  That is the embodiment of what we should be demanding from our elected employees.
[01:34:09.480 --> 01:34:13.480]  All we would need to do is get a handful of people like Ross in there,
[01:34:13.480 --> 01:34:18.480]  and instead of endlessly debating what we are going to do with health care
[01:34:18.480 --> 01:34:22.480]  to give a bunch of perfumed princes and princesses
[01:34:22.480 --> 01:34:28.480]  something to look like they are doing for the one-third of a year that they work.
[01:34:28.480 --> 01:34:30.480]  Will they make more money than us?
[01:34:30.480 --> 01:34:33.480]  Will they get better health care than we will ever know about?
[01:34:33.480 --> 01:34:36.480]  Will they get bonuses and perks you don't even want to hear
[01:34:36.480 --> 01:34:40.480]  because it will really infuriate you?
[01:34:40.480 --> 01:34:45.480]  If we could get them to actually do something in focus, like Ross Perot would,
[01:34:45.480 --> 01:34:51.480]  we would solve the Medicare and the health care insurance problems in a year or two.
[01:34:51.480 --> 01:34:53.480]  I mean, completely.
[01:34:53.480 --> 01:34:59.480]  Because Ross doesn't have to worry about whose butt does he have to kiss to get elected.
[01:34:59.480 --> 01:35:04.480]  He was about to get elected all on his own merit as a complete rookie,
[01:35:04.480 --> 01:35:11.480]  no matter how much people picked on his big ears or his vertical challenges.
[01:35:11.480 --> 01:35:15.480]  And what's ironic is the minute this process begins,
[01:35:15.480 --> 01:35:22.480]  it would be like rolling a basketball-sized snowball down a snow-laden, very steep hill.
[01:35:22.480 --> 01:35:26.480]  All you've got to do is get it to move, and it takes care of itself.
[01:35:26.480 --> 01:35:30.480]  You give the average American something to be proud of.
[01:35:30.480 --> 01:35:33.480]  You give them some task in front of them,
[01:35:33.480 --> 01:35:39.480]  and they will tear it up like no other people on the planet.
[01:35:39.480 --> 01:35:47.480]  The two-year window, I think if we could clean up the banking system,
[01:35:47.480 --> 01:35:54.480]  clean up how we deal with money, and get our politicians to work on commission,
[01:35:54.480 --> 01:35:57.480]  I don't even think it would take two years.
[01:35:57.480 --> 01:36:05.480]  Because whether you realize it or not, we have degraded to such a low, low place.
[01:36:05.480 --> 01:36:12.480]  Anything from here would be like a colossal vertical leap into the air.
[01:36:12.480 --> 01:36:17.480]  So to see our standard of living increase really wouldn't take all that much.
[01:36:17.480 --> 01:36:20.480]  We just need to stop allowing people to rip us off
[01:36:20.480 --> 01:36:24.480]  and then tell us how great they are, all in the same sentence.
[01:36:24.480 --> 01:36:29.480]  This guy from Goldman Sachs, I forget his name because he's irrelevant, okay,
[01:36:29.480 --> 01:36:34.480]  saying we do God's work.
[01:36:34.480 --> 01:36:40.480]  You know, to call it heresy is a compliment.
[01:36:40.480 --> 01:36:47.480]  To call this man a pig would be an insult to pigs.
[01:36:47.480 --> 01:36:49.480]  They're doing God's work.
[01:36:49.480 --> 01:36:56.480]  Well, unless his God is some satanic figure, it's not the God I'm thinking of.
[01:36:56.480 --> 01:36:59.480]  It's not the God most of you would consider.
[01:36:59.480 --> 01:37:02.480]  I don't know where that came from.
[01:37:02.480 --> 01:37:08.480]  A week later he did rescind that and then admitted we have made terrible mistakes.
[01:37:08.480 --> 01:37:10.480]  Isn't that nice?
[01:37:10.480 --> 01:37:12.480]  You got caught with your pants down and people were laughing at you
[01:37:12.480 --> 01:37:16.480]  like the emperor with no clothes.
[01:37:16.480 --> 01:37:19.480]  So all we need to do is get moving.
[01:37:19.480 --> 01:37:24.480]  We're ranked in the bottom of the industrialized world in healthcare,
[01:37:24.480 --> 01:37:29.480]  and we spend more money on healthcare than any two other major countries put together.
[01:37:29.480 --> 01:37:36.480]  We rank something like 40th or 43rd out of 47 industrialized nations for education.
[01:37:36.480 --> 01:37:40.480]  We spend twice as much per pupil in this country.
[01:37:40.480 --> 01:37:42.480]  What's wrong here?
[01:37:42.480 --> 01:37:45.480]  Well, what are we teaching our children?
[01:37:45.480 --> 01:37:48.480]  We're teaching them how to be good little factory workers,
[01:37:48.480 --> 01:37:54.480]  and we're teaching them sociological things.
[01:37:54.480 --> 01:38:00.480]  Half of the kids in the inner city don't make it through electrical.
[01:38:00.480 --> 01:38:02.480]  They don't know how to read, right?
[01:38:02.480 --> 01:38:07.480]  They don't know arithmetic.
[01:38:07.480 --> 01:38:10.480]  These are the things that need to happen, and you know what?
[01:38:10.480 --> 01:38:13.480]  Two years, it might seem like a short time,
[01:38:13.480 --> 01:38:17.480]  but if you lost your job and you're facing foreclosure
[01:38:17.480 --> 01:38:23.480]  or you're facing a host of economic issues that tens of millions of people are tonight,
[01:38:23.480 --> 01:38:27.480]  two years is a lifetime.
[01:38:27.480 --> 01:38:30.480]  I mean, my heart goes out to these people.
[01:38:30.480 --> 01:38:34.480]  Anybody who knows me knows I've been jumping up and down on any desk,
[01:38:34.480 --> 01:38:38.480]  table, soap box, or anything else I can get my hands on,
[01:38:38.480 --> 01:38:41.480]  trying with everything I've got to try to tell people,
[01:38:41.480 --> 01:38:47.480]  stop deluding yourself, look around, educate yourself, and get rolling,
[01:38:47.480 --> 01:38:51.480]  because it scares me to watch what's being done to my country.
[01:38:51.480 --> 01:38:57.480]  I was talking to another guy about my age who just happens to be in his mid-40s,
[01:38:57.480 --> 01:39:00.480]  and the comment of our childhood came up.
[01:39:00.480 --> 01:39:03.480]  And I said, you know, I hate to say this,
[01:39:03.480 --> 01:39:13.480]  but this is not the United States I grew up in, not even remotely.
[01:39:13.480 --> 01:39:20.480]  I'm thinking about that right now, and it makes my eyes water.
[01:39:20.480 --> 01:39:24.480]  I can't believe we've fallen this far, this fast,
[01:39:24.480 --> 01:39:32.480]  that we, these brave, industrious, decent, hardworking, charitable people,
[01:39:32.480 --> 01:39:37.480]  how could we possibly put up with this?
[01:39:37.480 --> 01:39:42.480]  And again, anybody out there who grabs a knife, a gun, a club, or anything else,
[01:39:42.480 --> 01:39:47.480]  or thinks we're going to have a 10-million-man march on Washington, why?
[01:39:47.480 --> 01:39:50.480]  So the President of the United States just flies out,
[01:39:50.480 --> 01:39:53.480]  and his press secretary says once again, what demonstration?
[01:39:53.480 --> 01:39:56.480]  I didn't even notice.
[01:39:56.480 --> 01:39:57.480]  Don't waste your time.
[01:39:57.480 --> 01:40:01.480]  Grab a pen.
[01:40:01.480 --> 01:40:03.480]  Light up the phone boards.
[01:40:03.480 --> 01:40:06.480]  Show these people your fury.
[01:40:06.480 --> 01:40:12.480]  Show these people your determination the next time you go to the ballot box.
[01:40:12.480 --> 01:40:17.480]  If it's a name you could even remotely recognize, just let's all say together,
[01:40:17.480 --> 01:40:21.480]  you are fired.
[01:40:21.480 --> 01:40:25.480]  The people who come into office, let's pressure the hell out of them,
[01:40:25.480 --> 01:40:32.480]  rescind the lifetime retirement pay for a member of the House of Congress
[01:40:32.480 --> 01:40:37.480]  who only serves a couple years and then gets a lifetime of full benefits,
[01:40:37.480 --> 01:40:43.480]  full pay, full health care, and a service detail,
[01:40:43.480 --> 01:40:46.480]  and maybe a few serfs to follow them around.
[01:40:46.480 --> 01:40:48.480]  I don't get that.
[01:40:48.480 --> 01:40:51.480]  I'm a nice guy.
[01:40:51.480 --> 01:40:53.480]  Why don't I get that?
[01:40:53.480 --> 01:40:56.480]  Debra, why don't you get that?
[01:40:56.480 --> 01:41:01.480]  Because we, the people I just mentioned, we like to work.
[01:41:01.480 --> 01:41:04.480]  We like to actually do stuff.
[01:41:04.480 --> 01:41:08.480]  And we're not worthless, where if I didn't get it handed to me like that,
[01:41:08.480 --> 01:41:11.480]  I'd probably never make it on my own in the private sector.
[01:41:11.480 --> 01:41:23.480]  If my daddy didn't happen to be some big political hack, how do you get a real job?
[01:41:23.480 --> 01:41:29.480]  The economics behind this, one of the things I was mentioning to Randy
[01:41:29.480 --> 01:41:37.480]  and Debra at the last break was as we get to the end of the two-year answer,
[01:41:37.480 --> 01:41:42.480]  we need to start talking about some of the other real-world unbelievable things
[01:41:42.480 --> 01:41:46.480]  that have gone on since the last time I had the privilege of being here talking to you.
[01:41:46.480 --> 01:41:48.480]  Please, go ahead, right now.
[01:41:48.480 --> 01:41:54.480]  You mentioned something about this earlier this week when we were on chat.
[01:41:54.480 --> 01:41:55.480]  So yeah, I'm ready to hear it.
[01:41:55.480 --> 01:41:57.480]  We're all ears.
[01:41:57.480 --> 01:42:02.480]  Well, the last time I was on, I was talking about precious metals.
[01:42:02.480 --> 01:42:06.480]  And you guys had both asked me, well, what are you doing with your own money?
[01:42:06.480 --> 01:42:10.480]  And I said, I'm getting out of all paper assets.
[01:42:10.480 --> 01:42:15.480]  I've never held my personally such low cash levels in my life.
[01:42:15.480 --> 01:42:22.480]  I think I had more cash in my pocket when I was 19 years old than I do right now.
[01:42:22.480 --> 01:42:23.480]  And you know what?
[01:42:23.480 --> 01:42:27.480]  I've never been happier, and I've never slept more soundly,
[01:42:27.480 --> 01:42:33.480]  and I've never seen such real-world results as I have in the last nine months.
[01:42:33.480 --> 01:42:41.480]  By getting away from paper, I truly have witnessed a 50 to 200 percent rise
[01:42:41.480 --> 01:42:46.480]  in the value of the tangible assets that I've purchased.
[01:42:46.480 --> 01:42:55.480]  No matter what jackass out there wants to default, like Dubai of the United Arab Emirates,
[01:42:55.480 --> 01:43:05.480]  there's probably the biggest Ponzi scheme real estate developmental fraud ever witnessed.
[01:43:05.480 --> 01:43:07.480]  And it's not really big news.
[01:43:07.480 --> 01:43:08.480]  It's out there.
[01:43:08.480 --> 01:43:10.480]  People talk about it, but Dubai?
[01:43:10.480 --> 01:43:12.480]  What's a Dubai?
[01:43:12.480 --> 01:43:16.480]  You know, it's a little serfdom out in the Middle East.
[01:43:16.480 --> 01:43:18.480]  Wait till you hear what they did.
[01:43:18.480 --> 01:43:22.480]  Wait till you hear what the repercussions are.
[01:43:22.480 --> 01:43:23.480]  All right.
[01:43:23.480 --> 01:43:25.480]  You got us on the edge of our seat.
[01:43:25.480 --> 01:43:29.480]  We'll be right back after this break.
[01:43:29.480 --> 01:43:30.480]  This is the rule of law.
[01:43:30.480 --> 01:43:48.480]  We're here with Steve, the financial analyst.
[01:43:48.480 --> 01:43:55.480]  Aerial spray, chemtrails, the modified atmosphere, heavy metals and pesticides,
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[01:45:00.480 --> 01:45:29.480]  Okay, Steve.
[01:45:29.480 --> 01:45:30.480]  What happened?
[01:45:30.480 --> 01:45:33.480]  What did Dubois do?
[01:45:33.480 --> 01:45:37.480]  What did they do now?
[01:45:37.480 --> 01:45:39.480]  What did they do this time?
[01:45:39.480 --> 01:45:44.480]  They went belly up in a spectacular fashion.
[01:45:44.480 --> 01:45:49.480]  You know, a year and a half ago the big story in the United States was starting to break
[01:45:49.480 --> 01:45:56.480]  about people who could just marginally fog up a mirror were given home loans.
[01:45:56.480 --> 01:46:01.480]  And illegal aliens were given a free pass to go into a bank and get a home loan
[01:46:01.480 --> 01:46:04.480]  without a Social Security number.
[01:46:04.480 --> 01:46:11.480]  I'd love to see anybody who was born here to try to do that without a Social Security.
[01:46:11.480 --> 01:46:12.480]  Oh, yeah, no way.
[01:46:12.480 --> 01:46:13.480]  Right.
[01:46:13.480 --> 01:46:19.480]  But if you're illegal, you know, because we do have the tour on terrorism where we're
[01:46:19.480 --> 01:46:26.480]  really concerned and we'll strip search Grandma at the airport to protect our freedom.
[01:46:26.480 --> 01:46:31.480]  Well, we have the border wide open like a sieve and then as a reward for breaking the
[01:46:31.480 --> 01:46:36.480]  law we'll give you Social Security benefits and stuff.
[01:46:36.480 --> 01:46:37.480]  Right?
[01:46:37.480 --> 01:46:38.480]  Okay.
[01:46:38.480 --> 01:46:40.480]  Well, we had a subprime.
[01:46:40.480 --> 01:46:47.480]  This is at least the cover story given to what was the collapse of a derivative pyramid,
[01:46:47.480 --> 01:46:54.480]  derivatives being private over the counter contracts between business entities to help
[01:46:54.480 --> 01:46:56.480]  off lay risk.
[01:46:56.480 --> 01:47:02.480]  If it sounds like hogwash it's because it is and it's like really a complicated mumbled
[01:47:02.480 --> 01:47:06.480]  jumbo of legalism.
[01:47:06.480 --> 01:47:11.480]  Basically it's a legal way for major companies to avoid paying taxes.
[01:47:11.480 --> 01:47:14.480]  You try to do that yourself and you're in jail.
[01:47:14.480 --> 01:47:22.480]  If you have a multi-billion dollar publicly traded company you get a reward and a bailout.
[01:47:22.480 --> 01:47:27.480]  But we had a subprime problem and it's allegedly what started the whole mess that we're living
[01:47:27.480 --> 01:47:32.480]  through right now and that, you know, millions of people have been displaced and tens of
[01:47:32.480 --> 01:47:35.480]  millions more are scared to death what's coming next.
[01:47:35.480 --> 01:47:39.480]  Well, last time we talked I'm pretty sure I mentioned something about I'm really concerned
[01:47:39.480 --> 01:47:45.480]  about the other shoe coming down which would be we had the subprime mess and now we're
[01:47:45.480 --> 01:47:52.480]  starting to see the amount of people with formerly fantastic credit, high FICO scores,
[01:47:52.480 --> 01:48:01.480]  and big, big homes are starting to lose them because business is slowing down and even
[01:48:01.480 --> 01:48:05.480]  the high and mighty are starting to fall.
[01:48:05.480 --> 01:48:12.480]  Well, the leverage that was in the upper echelon real estate in the United States and all the
[01:48:12.480 --> 01:48:20.480]  way down to the worst of the subprimes, the leverage that we saw taken financially by
[01:48:20.480 --> 01:48:27.480]  these people with real estate just pales in comparison to the risk and the leverage that
[01:48:27.480 --> 01:48:32.480]  exists commonly in the commercial real estate market.
[01:48:32.480 --> 01:48:40.480]  I believe it's somewhere between 3 and 500 percent or 3 to 5 times as risky, as volatile,
[01:48:40.480 --> 01:48:45.480]  and almost guaranteed to collapse.
[01:48:45.480 --> 01:48:46.480]  Well, we're seeing that.
[01:48:46.480 --> 01:48:50.480]  I think I've made a couple comments so far tonight about like the little strip malls
[01:48:50.480 --> 01:48:53.480]  and the like that are starting to board up.
[01:48:53.480 --> 01:49:00.480]  The pressure given to the big malls in the Chicago land area, there's many of them.
[01:49:00.480 --> 01:49:08.480]  And you have a mall that might cost $2 billion to make, and they're used to having what's
[01:49:08.480 --> 01:49:15.480]  called the anchor stores, you know, the Macy's, the Marshall Field, the like.
[01:49:15.480 --> 01:49:22.480]  Well, as these stores watch their sales decline and they know that their real estate holding
[01:49:22.480 --> 01:49:29.480]  companies or their managed firms or whomever actually owns or has control of because the
[01:49:29.480 --> 01:49:31.480]  banks own it all.
[01:49:31.480 --> 01:49:38.480]  But whoever has temporary owners or control over these malls, these people are suffering
[01:49:38.480 --> 01:49:44.480]  from a decrease in need of all this retail space that they created, whether it's office
[01:49:44.480 --> 01:49:47.480]  space or it's strip mall or it's the big mall.
[01:49:47.480 --> 01:49:51.480]  But the big malls in particular are super pressure right now.
[01:49:51.480 --> 01:49:55.480]  Same thing with the big office buildings and high rises.
[01:49:55.480 --> 01:50:02.480]  But the mall, to try to keep it on one track, as more and more stores start to leave, the
[01:50:02.480 --> 01:50:10.480]  smaller, the maybe, you know, 50 retail outlets across the country, as these places start
[01:50:10.480 --> 01:50:15.480]  going out of business, the people who own and control these malls are getting scared
[01:50:15.480 --> 01:50:20.480]  of, well, we're getting less and less income every month and we have a particular amount
[01:50:20.480 --> 01:50:26.480]  of money we have to pay from either the developers, the landholders or the banks that control
[01:50:26.480 --> 01:50:30.480]  the real estate behind the mall.
[01:50:30.480 --> 01:50:35.480]  And the big box stores, these anchor stores, are saying, look, we know you're in trouble.
[01:50:35.480 --> 01:50:39.480]  You can't possibly afford to lose a couple of us.
[01:50:39.480 --> 01:50:43.480]  How about let's renegotiate our rent and let's make it a little lower because, frankly,
[01:50:43.480 --> 01:50:46.480]  our sales are down 20 or 30 percent.
[01:50:46.480 --> 01:50:51.480]  So why don't you take 20 or 30 percent off the rental price?
[01:50:51.480 --> 01:50:57.480]  Since the real estate bubble popped and put real estate bubble goo all over the place,
[01:50:57.480 --> 01:50:59.480]  what do we have?
[01:50:59.480 --> 01:51:01.480]  We have another mess.
[01:51:01.480 --> 01:51:10.480]  We have more over leverage and we have more people waiting in line looking for a better deal.
[01:51:10.480 --> 01:51:15.480]  Probably the quintessential example of how bad commercial real estate could be would
[01:51:15.480 --> 01:51:23.480]  be to go into the Middle East in a little country near Saudi Arabia called the United
[01:51:23.480 --> 01:51:25.480]  Arab Emirates.
[01:51:25.480 --> 01:51:34.480]  This is kind of like a little colonial stakedom and Dubai is one of the Emirates.
[01:51:34.480 --> 01:51:39.480]  Abu Dhabi is like the premier one.
[01:51:39.480 --> 01:51:40.480]  Forgive my ignorance.
[01:51:40.480 --> 01:51:43.480]  I forget offhand how many of these little states there were.
[01:51:43.480 --> 01:51:45.480]  I think there's something like 10.
[01:51:45.480 --> 01:51:49.480]  But again, forgive me for getting this wrong.
[01:51:49.480 --> 01:51:55.480]  Out of these 10 states, let's just use that number for a moment so I don't get hung up on it.
[01:51:55.480 --> 01:51:57.480]  Abu Dhabi is the wealthy one.
[01:51:57.480 --> 01:52:03.480]  Out of all of the states, they're the ones with the real proven oil reserves.
[01:52:03.480 --> 01:52:08.480]  So they can have an enormous amount of incoming capital day in,
[01:52:08.480 --> 01:52:14.480]  day out over the world's most sought after commodity, energy.
[01:52:14.480 --> 01:52:22.480]  Now, Dubai is really just a flea-infested little place out there.
[01:52:22.480 --> 01:52:26.480]  They do have oil, but it's trivial in comparison.
[01:52:26.480 --> 01:52:34.480]  And what they wanted to do was to create a tourist destination, a hot spot, a Paris,
[01:52:34.480 --> 01:52:38.480]  a Riviera of the Middle East.
[01:52:38.480 --> 01:52:43.480]  And somehow, because of the easy credit flowing around the globe
[01:52:43.480 --> 01:52:50.480]  and the just determination by everybody on Earth that if I buy real estate –
[01:52:50.480 --> 01:52:54.480]  I'm trying to remember this scam being laid out before you five years ago.
[01:52:54.480 --> 01:52:57.480]  If I buy real estate, it doesn't go down.
[01:52:57.480 --> 01:52:59.480]  It can only go up.
[01:52:59.480 --> 01:53:02.480]  They're never going to make any more land.
[01:53:02.480 --> 01:53:09.480]  The population will ever increase without pulling back or correcting itself.
[01:53:09.480 --> 01:53:13.480]  And because of that, whatever amount of money we spend on real estate,
[01:53:13.480 --> 01:53:18.480]  it's really irrelevant because all it could possibly do is make more money.
[01:53:18.480 --> 01:53:22.480]  In the Arabs, we're very keen on marketing.
[01:53:22.480 --> 01:53:30.480]  They were able to sell another fantasy pipe dream turned nightmare of
[01:53:30.480 --> 01:53:36.480]  we're going to build more skyscrapers, architectural wonders,
[01:53:36.480 --> 01:53:40.480]  and we're going to create something completely new and different.
[01:53:40.480 --> 01:53:47.480]  At one time, Dubai had 30,000 of the world's largest cranes in their country
[01:53:47.480 --> 01:53:53.480]  building this little strip of nothing into an unfathomable beauty.
[01:53:53.480 --> 01:54:00.480]  If you doubt me, go to Google, click on Google Images, type in Dubai,
[01:54:00.480 --> 01:54:02.480]  and just look for yourself.
[01:54:02.480 --> 01:54:04.480]  It's breathtaking.
[01:54:04.480 --> 01:54:07.480]  The skyscrapers and architecture that they put together,
[01:54:07.480 --> 01:54:11.480]  it's hard to believe it's real.
[01:54:11.480 --> 01:54:15.480]  But one little song I heard an awful lot growing up,
[01:54:15.480 --> 01:54:19.480]  and I've been teaching my daughters is – and I'm not going to sing it for you
[01:54:19.480 --> 01:54:22.480]  because I don't want to hear anybody cry in the background –
[01:54:22.480 --> 01:54:26.480]  a wise man built his house upon a rock,
[01:54:26.480 --> 01:54:30.480]  and the foolish man built his house upon the sand.
[01:54:30.480 --> 01:54:36.480]  And you know that Dubai was getting to the clinically insane real estate bubble stage
[01:54:36.480 --> 01:54:42.480]  when some jackass decided to go out and build something like a thousand
[01:54:42.480 --> 01:54:50.480]  or two thousand foot long indoor ski resort in the middle of a desert.
[01:54:50.480 --> 01:54:51.480]  Can you imagine that?
[01:54:51.480 --> 01:54:54.480]  If I wanted to go skiing and I had the money to go travel to that place
[01:54:54.480 --> 01:54:59.480]  with no rights and the just terrible restrictions of that type of a country
[01:54:59.480 --> 01:55:01.480]  – read between the lines there –
[01:55:01.480 --> 01:55:04.480]  why wouldn't I just get on a plane and go to the Swiss Alps
[01:55:04.480 --> 01:55:08.480]  or go to France or Austria or some other place?
[01:55:08.480 --> 01:55:12.480]  I'd prefer that all Americans went to Colorado and spent your money here,
[01:55:12.480 --> 01:55:14.480]  at least for a while.
[01:55:14.480 --> 01:55:17.480]  But they built a ski resort out in the middle of a desert.
[01:55:17.480 --> 01:55:22.480]  There's entire island chains put together to make it look like a palm tree
[01:55:22.480 --> 01:55:27.480]  from six miles up in the sky.
[01:55:27.480 --> 01:55:30.480]  There's a map of the world, real estate development,
[01:55:30.480 --> 01:55:35.480]  where you could buy your own version of England.
[01:55:35.480 --> 01:55:40.480]  And the pomposity and arrogance of the development went way past anything
[01:55:40.480 --> 01:55:43.480]  that made economic sense.
[01:55:43.480 --> 01:55:46.480]  They couldn't justify it anymore.
[01:55:46.480 --> 01:55:49.480]  It became an ecological wasteland.
[01:55:49.480 --> 01:55:54.480]  I mean, there's tons of stories about just the backed up sewage and all this stuff.
[01:55:54.480 --> 01:56:01.480]  So you have these beautiful palaces constantly under barrage from a tack of sand
[01:56:01.480 --> 01:56:05.480]  in a Muslim, extremely strict country.
[01:56:05.480 --> 01:56:08.480]  And an American citizen can never really have any rights there,
[01:56:08.480 --> 01:56:10.480]  but feel free to spend all your money.
[01:56:10.480 --> 01:56:15.480]  And besides, if you buy something here and you can't pay your bill
[01:56:15.480 --> 01:56:18.480]  and never step foot in the country, we will take you financial prisoner,
[01:56:18.480 --> 01:56:21.480]  hold you hostage until you pay your debt.
[01:56:21.480 --> 01:56:26.480]  And that does mean you're now going to work for $10 a day.
[01:56:26.480 --> 01:56:28.480]  Imagine that.
[01:56:28.480 --> 01:56:37.480]  Now, where this gets really interesting is they're saying that the Dubai real estate bubble popped,
[01:56:37.480 --> 01:56:42.480]  that these people went out and started asking for a six-month extension
[01:56:42.480 --> 01:56:47.480]  on all their debt payments because they have skyscrapers that they call see-through.
[01:56:47.480 --> 01:56:50.480]  There's no drapes because there's no occupants.
[01:56:50.480 --> 01:56:53.480]  And you can be in the middle of one building
[01:56:53.480 --> 01:56:58.480]  and look out and see through the big fancy glass palace in front of you
[01:56:58.480 --> 01:57:00.480]  because nobody's living there.
[01:57:00.480 --> 01:57:04.480]  Well, if Deborah and I went out and took a loan to build a skyscraper
[01:57:04.480 --> 01:57:06.480]  and we can't put any people in there,
[01:57:06.480 --> 01:57:09.480]  how long do you suspect we're going to stay solvent?
[01:57:09.480 --> 01:57:14.480]  Now, when we come back eventually from the next break we take,
[01:57:14.480 --> 01:57:19.480]  I'm going to try to explain, well, we have derivatives and bonds
[01:57:19.480 --> 01:57:28.480]  and an interwoven mess that greatly, greatly expands upon the numbers quoted from Dubai.
[01:57:28.480 --> 01:57:30.480]  It's not $20 billion.
[01:57:30.480 --> 01:57:36.480]  It's $100 billion in real estate fiasco.
[01:57:36.480 --> 01:57:40.480]  If that $100 billion has been sold and scammed
[01:57:40.480 --> 01:57:45.480]  through all sorts of collateralized debt obligations and paper,
[01:57:45.480 --> 01:57:51.480]  it's in the trillion, at least the leverage is.
[01:57:51.480 --> 01:57:56.480]  Wow.
[01:57:56.480 --> 01:57:58.480]  This is incredible.
[01:57:58.480 --> 01:58:02.480]  I think we're all going to feel the impact of Dubai.
[01:58:02.480 --> 01:58:08.480]  Yeah, I don't think the shoe has fallen yet over here.
[01:58:08.480 --> 01:58:11.480]  The sucking sound is the Dubai toilet flushing.
[01:58:11.480 --> 01:58:14.480]  Yeah, exactly.
[01:58:14.480 --> 01:58:17.480]  We haven't even started to feel the consequences of that yet.
[01:58:17.480 --> 01:58:19.480]  It's going to be major.
[01:58:19.480 --> 01:58:21.480]  The ski resort.
[01:58:21.480 --> 01:58:25.480]  The ski resort just killed me when you said that.
[01:58:25.480 --> 01:58:27.480]  I nearly fell out of my chair.
[01:58:27.480 --> 01:58:32.480]  During the break, Google Images, Dubai.
[01:58:32.480 --> 01:58:35.480]  And that's D-U-B-A-I.
[01:58:35.480 --> 01:58:37.480]  All right, we're going to go to break.
[01:58:37.480 --> 01:58:38.480]  We'll be back.
[01:58:38.480 --> 01:58:41.480]  We've got a three-minute break for news.
[01:58:41.480 --> 01:58:45.480]  Activism, education, celebration.
[01:58:45.480 --> 01:58:47.480]  Looking for something to do this October?
[01:58:47.480 --> 01:58:51.480]  Be part of the largest freedom festival on either side of the Mississippi.
[01:58:51.480 --> 01:58:53.480]  The Midwest Liberty Fest.
[01:58:53.480 --> 01:58:58.480]  Come to Detroit, Illinois this October 9th, 10th, and 11th.
[01:58:58.480 --> 01:59:23.480]  Festival in peace.
[01:59:28.480 --> 01:59:53.480]  We'll be right back.
[01:59:53.480 --> 01:59:59.480]  Thank you.