🔴 BREAKING NEWS!! America is a disaster happening in slow motion. Inflation driven rally!

What this episode is about

The discussion highlights the current state of the U.S. stock market, noting its significant gains in August and new record highs in major indices, despite September typically being a weak month for stocks. The commentary suggests that the ongoing inflation-driven rally may continue, supported by Federal Reserve policies, while cautioning that market participants may be overlooking underlying risks.

Key takeaways

• September: Wall Street's unluckiest month, yet we're banking on a bullish anomaly this year.
• Tesla's stock more valuable than the entire auto industry—guess selling cars is overrated in Silicon Valley.
• Apple's stock splits spark joy; just don’t forget the broader market’s historical September blues lurking.
• The market cap race: Will Apple hit $3 trillion before Wall Street realizes Tesla's just a high-priced symbol?
• Investors appear blind: Are we betting on Tesla's allure or just playing a game of price tag?

Who speaks in this episode?

• Peter Schiff (Host) · 1 h 8 min speaking

What is discussed, and when

1. 0:00 – 10:00: Apple Inc., Zoom, Tesla, Inc., Wal-Mart
2. 10:00 – 20:00: MoneyShow, Adrian Day
3. 20:00 – 30:00: Brent Johnson
4. 30:00 – 40:00: Vicky Osterweil
5. 40:00 – 50:00: George Floyd, Jacob Blake
6. 50:00 – 1:00:00: George Floyd, Jacob Blake
7. 1:00:00 – 1:10:00: George Floyd, McDonald
8. 1:10:00 – 1:16:00: McDonald, George Floyd

Notable quotes from "🔴 BREAKING NEWS!! America is a disaster happening in slow motion. Inflation driven rally!"

• Or most valuable not largest the most the highest market cap maybe it's gonna be the first three trillion dollar market cap company i mean it's not that far away based on the way that it's going now.

  about Apple Inc. · at 2:51

• Stock in the united states number seven but if you compare it to the auto stocks tesla is more than twice as valuable as toyota now before tesla had this you know rocket ship ride toyota was by far the largest.

  about Tesla, Inc. · at 4:38

• Record high so everything is just going up of course the stock that stole the show today was zoom right zoom video came out and their earnings really beat estimates so the stock was up 40.

  about Zoom · at 8:35

• You who don't know adrian day works with me he is the portfolio manager for the euro pacific gold fund and he also manages the separately managed gold stock accounts.

  about Adrian Day · at 16:48

• That was forwarded to me coming from brett johnson had to do with his argument that we don't have inflation that we're going to have deflation and he's basing it on the fact that the fed.

  about Brent Johnson · at 22:27

• This interview online national public radio did an interview with vicky osterweil and i tweeted out i put on my facebook page a link to this article and she wrote a book.

  about Vicky Osterweil · at 32:51

• Other officers had any intention to kill him but we'll see i mean the charges should be dismissed against all four of these officers at a minimum against the other three certainly the rookies who were simply.

  about George Floyd · at 56:38

• In a headlock so he assaulted the policeman while he was resisting arrest the police tried to subdue him with tasers right they didn't just start firing their guns they tried the tasers didn't work he was shot twice.

  about Jacob Blake · at 58:19

Who and what is mentioned in this episode?

People

• George Floyd — Person · Referenced individual in political/policing controversy · 14 mentions · first at 46:10
  Used as the central example in the host’s argument about protests, policing, and claims of systemic racism; the host discusses autopsy findings, body-cam footage, and legal motions.
• Vicky Osterweil — Person · Referenced author (criticized) · 1 mention · first at 32:55
  Discussed in connection with an NPR interview about her book 'In Defense of Looting'; the host quotes and strongly criticizes her arguments as emblematic of anti-capitalist ideology.
• Jacob Blake — Person · Referenced individual in political/policing controversy · 3 mentions · first at 46:14
  Presented as another high-profile police shooting case; the host argues that later-reported details (knife, resisting arrest, taser use) change the interpretation of the incident.
• Brent Johnson — Person · Referenced market commentator / debate counterpart · 1 mention · first at 20:07
  Cited as the proponent of the “milkshake theory” and as the host’s counterparty in a bet about the U.S. dollar; the host critiques Johnson’s view on inflation vs. deflation.
• Adrian Day — Person · Referenced expert / panelist · 1 mention · first at 16:44
  Mentioned as a fellow speaker and collaborator with the host on a metals/mining conference panel; described as managing gold-related investment products/accounts.

Companies & orgs

• Tesla, Inc. — Company · Business focus · 1 mention · first at 4:46
  Discussed in the context of its stock split, market cap, and comparison to other auto companies.
• Apple Inc. — Company · Business focus · 2 mentions · first at 2:22
  Mentioned in relation to its stock split and market cap, highlighting its position as the most valuable company.
• Zoom — Company · Business focus · 2 mentions · first at 8:39
  Highlighted for its stock performance post-earnings, reflecting the impact of increased remote work.
• McDonald — Company · Business focus · 8 mentions · first at 1:06:46
  Discussed in the context of a lawsuit filed by former black franchise owners alleging discrimination.
  Owners they used to own mcdonald franchises they don't own them anymore they're suing mcdonald's for a billion dollars in damages which comes to what 20 million dollars per franchisee which seems like a lot of.
• Wal-Mart — Company · Business focus · 1 mention · first at 8:02
  Mentioned in the context of its new Amazon Prime-like service and stock performance.
  Don't know you get some discounts or stuff like that and the stock was up over six percent on that news what the hell is that six percent new all-time record high just based on that and it's not like.
• MoneyShow — Company · Business focus · 2 mentions · first at 15:46
  Mentioned as the platform for a virtual conference where the speaker is presenting.
  And you know before i get to that topic before i forget i want to mention that i am doing another virtual money show it began yesterday it's you can go there on moneyshow.com it's a medals and mining conference.
• Toyota — Company · Business focus · 1 mention · first at 4:46
  Compared to Tesla in terms of market cap, highlighting Tesla's rapid growth.
  Stock in the united states number seven but if you compare it to the auto stocks tesla is more than twice as valuable as toyota now before tesla had this you know rocket ship ride toyota was by far the largest.

Full transcript with timestamps

0:09 today was the first trading day of the month of september we closed out august yesterday with another gain so we did have the best august in the s p 500 going all the way back to 1986 and that was about a year before we had the 1987 stock market crash which happened in october of 87 you know though even though october is infamous for big stock market crashes historically the weakest month of the year for the stock market is not october it's actually september the month that began today is historically the month where the u.s stock market does the worst although i do have a feeling that this september will probably be an exception to that rule because it really seems at this point that there's no reason to believe uh that this inflation driven rally is going to peter out anytime soon now i wouldn't be surprised if it did but i'm just not willing to bet that it will but in fact we hit new record highs again today in the s

1:21 p 500 and the nasdaq the dow jones was positive on the day up over 200 points i think 215 it closed right near the highs of the day in fact we were lower in the morning we were down over 100 points early on uh but you know nothing was going to keep this market down the buyers came in and so we had a big rally but the dow is still the major index of the three that is not hitting new record highs of course russell 2000 not even in the vicinity of a record high uh but you know who knows i mean it might get there too uh if this momentum keeps up and if the fed continues to support this market which it likely will and uh the public is foolish enough to keep on buying without realizing uh you know how this thing is going to end you know look at some of the individual names of the day because first of all we had the two big splits we had the five for one tesla split and the four for one apple split

2:26 these companies began trading post split yesterday and they were up yesterday they were up again today apple up another 4.3 new all-time record high i'm not sure what the market cap is now i think it's about 2.3 trillion dollars uh for apple obviously it is the biggest company in the world uh maybe it's gonna be the first company or most valuable not largest the most the highest market cap maybe it's gonna be the first three trillion dollar uh market cap company i mean it's not that far away based on the way that it's going now tesla tesla wasn't as fortunate today tesla was actually down four percent closing at about 475 although pre-market tesla was trading at about 520 530 dollars a share until tesla itself reigned on its own parade because before the market opened tesla announced a 5 billion atm at the market stock offering where it's going to allow a group of brokerage firms to sell

3:36 tesla stock into the market at the market price so in other words tesla is going to unload the equivalent of five billion dollars worth of its own stock so they can put the five billion dollars in the bank to have cash on its balance sheet now of course the main reason i think that tesla needs to raise cash is because it's not making that much cash selling cars it makes a lot more money selling stock than it does selling cars so by putting five billion dollars in the bank that's a lot more money that it can lose and of course if the stock price keeps going up well they can sell even more stock at an even higher price and keep the whole thing going in fact even after today's decline i think the market cap on tesla yesterday was about 460 billion dollars when it closed on monday which meant that tesla was the seventh biggest by market cap stock in the united states number seven but if you compare it to the auto stocks

4:46 tesla is more than twice as valuable as toyota now before tesla had this you know rocket ship ride toyota was by far the largest auto company and now it's half of tesla's size in fact if you add to toyota honda nissan daimler bmw gm and ford if you add all those auto companies together you still get a market cap that is lower than the market cap of tesla now i'm not sure you know what it takes for tesla's market cap to equal the rest of the automobile industry i haven't really done the math but if tesla's stock price were to double from here then certainly tesla would be more valuable than all of the other publicly traded auto companies in the world combined i mean think about that one company tesla being worth more than all of the other automobile companies the entire auto industry would have a value less than the value of tesla and if the market is is being truthful then what investors in theory are forecasting

6:04 is that pretty much tesla will own 50 or more of the world's auto market meaning that half the cars sold will be teslas uh or you know half the profits derived from the auto industry will belong to tesla now of course that's not going to happen i mean it's not even come close to coming true but of course i don't think anybody who's buying tesla stock even thinks about that even cares about that i mean i don't even know if they care that it's an auto company i mean as far as i'm concerned tesla is just a symbol it's just four letters that's all it is it's just numbers and letters the the letters are the symbol and the number is the price and it's a game and everybody keeps buying and no one really cares about the underlying company or whether or not it can possibly be this profitable now the question is is tesla overpriced or is the rest of the automobile industry underpriced like the same thing with apple versus

7:03 their the russell 2000 is apple overpriced or are the 2000 stocks that comprise the russell 2000 underpriced what's gonna happen is apple gonna come crashing down is tesla going to come crashing down or the rest of the stocks going to rise uh to to meet these other companies now certainly if we create enough inflation and paper money collapses then it's possible that stocks like tesla can stay where they are and the rest of the auto industry can simply rise uh to bring tesla's relative market cap to a proportion that makes sense based on its potential sales and profitability or of course tesla stock can come crashing down or there can be some combination of both but look this is the biggest bubble that we've ever seen we have the most reckless federal reserve that there's ever been and so you get stuff like that look at what happened today with walmart i mean walmart came out and they announced that they're going to

8:06 do their own amazon prime type deal i think you pay 98 a year and you get free shipping and i don't know you get some discounts or stuff like that and the stock was up over six percent on that news what the hell is that six percent new all-time record high just based on that and it's not like investors are worried that they're going to take any share from amazon because amazon's stock was up 1.7 today too it hit a new all-time record high so everything is just going up of course the stock that stole the show today was zoom right zoom video came out and their earnings really beat estimates so the stock was up 40 one day this stock which is now 457 dollars a share has a 52-week low of under 61.

8:57 i mean this thing is soaring i guess they should declare a split pretty soon or maybe wait for a thousand and then they can do a split and then this thing can really start to zoom look i get the idea that more people are using zoom now the question is is this a permanent shift because in order for you to believe that zoom is going to continue to have the type of revenues in the future than it has now when everybody is locked down and worried about kovid then you have to assume that everybody's going to stay locked down and they're always going to worry about covin but that's not what the market is assuming everybody's assuming that we're going gonna have a cure that we're gonna have a vaccine the market is booming because the belief is that oh the economy is gonna get better well then why are they also assuming that it's never gonna get better because that's what you have to believe to assume that you know everybody is

9:49 going to stay and zoom and they're not going to resume their in-person meetings but all this insanity is because of the fed and you know we've seen examples of this kind of hysteria in the past i mean it's not new i think what's new is the extent to which uh the fed is is engaging in this reckless monetary policy but you know you go back to the bubble in japan that we had in the 1980s the twin bubble in stocks and real estate that happened back then and that bubble like all these bubbles was caused by a central bank in this case the bank of japan which was creating much too much money printing a lot of money mainly to prop up the dollar and to maintain japanese exports to the united states but in the process uh all of that liquidity moved into the financial markets and we had this huge mania in stocks and real estate and the markets today still have not recovered to the 1980s peaks the stock market and the real estate

10:53 market are lower today than they were in my 88 89 i forget exactly when the bubble uh topped out but the japanese economy is still suffering the consequences of that bad monetary policy not just the bad policy that inflated the bubble but the bad policy that has existed ever since the bubble popped because the japanese government and the bank of japan has not been willing to allow the markets to fully rectify the enormity of the mistakes that took place during that bubble and so as a result japan did not have nearly as healthy and economic recovery as might otherwise have been the case and in fact just recently uh uh prime minister abe uh you know the founder of abenomics who a lot of people i think is a very successful prime minister again he came in and as far as he was concerned the problem was we didn't have enough inflation we needed even more inflation we need the central bank to print even

11:54 more money i mean what he should have done is said you know what the problem is we already have too much inflation we've printed too much money we've kept interest rates too low but instead he came to the opposite conclusion that we needed him lower for longer that that was the problem that rates weren't low enough long enough we needed even more inflation and that was their whole policy we'll see if they get a different approach with a different prime minister but talk about the definition of insanity and repeating the same mistake over and over again and expecting a different result the japanese have been repeating this mistake now for better than 30 years and they're still expecting a different result but i remember during the peak of that mania the land that was under the emperor's imperial palace which was you know some gardens and you know some just some you know some land the entire property

12:51 while it was a big piece of property it was less than a half of a square mile so in the scheme of things it's not a lot of land i mean it's a pretty good size a plot for for for a house although a palace right but it's less than one half a square mile but the value of that real estate was more than the entire state of california think about that think about the enormity of the state of california how much larger the state of california is even in the entire nation of japan i think you know i think california is bigger than japan but we're talking about less than one half a square mile of japan being worth more than california and california is the most expensive real estate in the country right and all that expensive real estate all that beachfront property beverly hills uh bel air right that property around l.a but all the laguna beach and san francisco and santa barbara and all newport all this orange county i mean

13:58 all that land right you know from northern california to you know to to mexico wherever the all the way to the bottom all that real estate combined and it was not even worth a a less than a quarter a half of a square mile of tokyo real estate now i mean clearly that was a bubble but people didn't care i mean it just didn't you know that was going to go on forever and that is the attitude i think that people have today people are wildly optimistic on the stock market we rarely get a down day the market just goes higher and higher and higher no one cares about valuations nobody even cares that the fed is the reason that the market is going up nobody wants to fight the fed and people assume that you're going to have to fed on your side the entire time and and nobody even believes that there's any adverse consequences that you know that the fed is printing all this money we're getting all the

14:59 stimulus the stock market is going up but that there's nothing bad that's going to happen that there are no negative consequences for this policy and of course if that was the case why did the fed wait so long i mean if all they have to do is keep printing all this money and we can just have stocks go up forever why did they have to wait for covet 19 why didn't we just do it before covet 19 and you know and the reason is because there is a consequence it's just that no one gives a damn about the consequences right now in fact the only investors that i can see that are worried about anything are gold investors are people buying gold stocks this is the only place i see any kind of concern and you know before i uh get to that topic before i forget i want to mention that i am doing another virtual money show it began yesterday it's uh you can go there on moneyshow.com it's a medals and mining conference

15:59 and so it started today i am speaking tomorrow morning i am the kickoff speaker at 10 20 eastern time why the fed's higher inflation promise will send gold prices soaring so that's my talk uh you can watch it live it's free just register go to moneyshow.com and look for this conference and then on thursday september 3rd so the following day i am on the closing panel at 5 40 p.m again eastern time putting it all together what the trends in money metals and mining mean for your portfolio and joining me on the panel are rick roll brian london and adrian day and those of you who don't know adrian day works with me he is the portfolio manager for the euro pacific gold fund and he also manages the separately managed gold stock accounts for clients at europe pacific capital and euro-pacific asset management but it should be a very interesting panel so i would encourage everybody to check it out and maybe while you're there take

17:14 a look at some of the other speakers and maybe have a listen to what they have to say as well but the reason that i'm saying that the gold and gold stock investors are the only people that seem worried is because these are the only stocks that ever go down i mean gold stocks have lots of days where they get hammered i mean i would say that gold stocks are down as many days as they're up right that's not the case with the nasdaq the nazis just goes up almost every day nobody is worried but in the gold stocks everybody is worried people are worried that they're buying the top they're worried that the market's going to go down that goal is going to go down i mean they're in a constant state of worry even though we're in a bull market and even though over the last year or two or three the gold stocks have outperformed the nasdaq as a whole obviously there are individual nasdaq companies uh that are doing much better but if you

18:11 take a look at the entire market the gold stocks have have outperformed but despite that outperformance people who are buying gold stocks are very worried they're concerned about the market even though the fundamentals have never been better i mean i cannot think of an industry that is going to help more by covet 19 and the current monetary policy than gold mining i mean i think the gold mines are going to benefit more than zoom you know yeah i can see some benefit for zoom but i think the benefit that gold stocks will enjoy will be better and longer lasting uh than the spike that you're getting at zoom yet the people who are buying gold stocks are so worried that the party's going to end that they're very reluctant to join and you know and they're exiting you know at the first sign of trouble whereas the people that are buying the nasdaq stocks they think the party's never gonna end they they couldn't care less we're gonna

19:13 party forever right they're they they haven't the least bit of concern and obviously this is not gonna end well the party is not gonna go on forever it is going to end and it is going to be a spectacular uh disaster the only question is will it end in a way uh that they've typically ended with a nominal crash or will the crash simply happen in real terms and not nominal terms because the dollar will end up crashing more than the stocks and so priced in dollars the stocks won't go down very much or they may even go up but priced in gold it will be an even more spectacular crash as a result of the you know collapsing value of the dollar and potentially other fiat currencies as well now while i'm on that topic earlier today somebody had uh forwarded me a tweet from brent johnson you know he's the guy that has this milkshake theory he's the person that i bet a gold coin on whether or not the dollar would be

20:19 higher or lower uh from january of this year to january of 2021. when we made the bet the dollar index was 96.7 today it's about 92 in fact it was lower intraday we got below 91.80 on the dollar index before we had a reversal tuesday type rally today and so i think we closed up at around 92 30. the euro ran into some resistance at a dollar twenty uh and so it got pulled back back down to about a dollar nineteen but i don't think that this reversal tuesday rally in the dollar has any significance at all as far as putting in a low for the dollar or some kind of change in trend as i'm recording this the euro was about 119 14. so the euro chart looks very very strong the dollar looks very weak i i think that the low that we put in today of uh 91 spot 746 will not stay the low uh for very long i think we'll take that low out before the week is over maybe even uh by tomorrow but of course you know we

21:32 do have some economic news that is coming out uh we have the jobs report coming out on friday so that can certainly be a big mover uh in in the currency market so we'll see but the dollar to me looks like it's going to get very very weak so i think brett johnson is going to be owing me another gold coin although uh i think there's a lot more at stake than a single gold coin oh by the way brett lost the bet that we made a year earlier he already paid me a gold coin uh because he bet that the next fed move would be a hike i bet that it would be a cut i won and i got my first gold coin and so this bet is double or nothing and so far it looks like it's going to be double but i'm not going to count my chickens until they hatch because we have to wait until january it's possible that the dollar could rally between now and then but i think it is highly unlikely but anyway the tweet that was forwarded to me uh coming from

22:29 brett johnson had to do with his argument that we don't have inflation that we're going to have deflation and he's basing it on the fact that the fed is not really printing money uh or even if it's printing money it's not inflationary because the money isn't being spent his point is that the fed is lending money not spending money and that in order for there to be inflation uh the money needs to be spent it's not simply enough to loan it it needs to be spent and to me this is a distinction without a difference what does brett johnson think is happening with the money that the fed is lending that money is being spent i mean for example in the last five months the federal reserve has purchased one trillion dollars worth of mortgage-backed securities that is approximately one-third of all of the mortgage-backed securities that exist and in fact at its current pace if the fed continues to buy mortgages

23:36 for another year it will own the entire market it will own all of the mortgage-backed securities that exist i mean think about that i mean if you think we have capitalism how do we have capitalism when all the mortgage credit is flowing from the government in fact not only does the government supply the credit it's also guaranteeing the mortgages because remember the the mortgages get originated and then the us government guarantees the mortgage and then the federal reserve buys it so the government is both insuring and originating the mortgages and of course how does the government insure the mortgage where does the government get the money if the borrower defaults it gets it from the fed so the fed is insuring the very mortgages that it owns it's insuring itself the whole thing is one ponzi scheme built on another but the one thing this is not is capitalism or a free market this is a bubble that is completely

24:35 created by socialism by the federal reserve and the government but the point is even though the fed is technically lending the money the money is being spent it's being spent to buy houses right people are borrowing money from the fed and then they're using it to buy houses or remodel their houses or who knows what they're doing or if the fed is simply buying a mortgage that is already in existence right well what is the person doing who sold that mortgage to the fed now they have all this cash where they used to have a mortgage now they've got this cash they're spending that cash on something so the money is being spent even if the federal reserve is technically not doing the spending it's doing the lending whoever is getting that money from the fed in terms of a loan is spending it and of course the biggest spender of fed loans is the united states government the united states government right now

25:38 is funding itself from the fed better than 60 cents out of every dollar the federal government is spending and it's spending over seven trillion dollars now but better than 60 cents out of every dollar is coming from the fed it's not coming from tax revenue more money is being printed and spent than collected in taxes and spent now technically these are loans right the federal reserve is loaning money to the u.s government right the u.s government is borrowing from the fed and then spending that money so i guess technically brett johnson is right the fed didn't spend the money they loaned the money but then the government spent the money that the fed loaned them so what's the difference the money is still being spent just because the federal reserve isn't spending it what difference does it make the federal government is spending it and if you think of the federal reserve as part of the federal government then

26:33 it's just one part of the federal government making the loan and another part doing the spending it's the same thing it doesn't make a difference the money is getting spent and of course it's not really a loan because it's never going to be repaid the the treasury is going to just keep on borrowing more and more and more and none of the loans are ever going to get repaid because the balance sheet is never going to stop growing so i don't see how brett johnson can close his eyes to what is painfully obvious i mean if he really believes that there's no inflation and that none of this money is getting spent well how are we getting all this government how is how are we getting three four trillion dollars a year in government is it free if you go to the uh website for the national debt clock you'll see that the us government is spending 6.885 trillion dollars all right so i was wrong it wasn't quite 7 trillion

27:32 almost 7 trillion 6.88 trillion but it's only collecting 2.7 trillion dollars in taxes where is that extra 4.2 trillion coming from it's coming from the fed the fed is printing that 4.2 trillion dollars and the government is spending it basically that's where it's coming from now maybe some of that money is being loaned to it from private sources but the majority of it is being loaned to it by the federal reserve none of that money is going to be repaid we're not getting that 4.2 trillion dollars worth of extra government for free we're getting 6.8 trillion dollars worth of government 6.9 trillion worth of government and the taxpayers are only getting a bill for 2.7 trillion where is the rest of it coming from inflation right so brett johnson thinks we're getting it all for free that taxpayers aren't going to be on the hook for all that government of course they're on the hook and it's not

28:32 taxpayers even people that don't pay taxes every american who earns dollars who saves dollars is on the hook for this inflation tax and it is going to be uh the most massive tax that that we've ever seen and it is the sole reason right now that you're seeing this rise in the stock market the stock market is only rising because of inflation the fundamentals are horrible for the stock market and as i've discussed in the past it's because the fundamentals are so bad that the stock market is so good because everybody knows that the stimulus is going to keep on coming in fact you know they're debating this new stimulus now the democrats and republicans uh you know they're trying to compromise or you know the democrats want to spend 3 trillion the republicans only want to spend 1 trillion uh so the democrats are like hey let's just compromise on 2 trillion there the republicans haven't been willing to

29:30 do that yet but there was a poll that came out and 70 of the respondents this was a gallup poll but 70 of the people want more stimulus spending they want another stimulus check put in the mail sure why not who wouldn't want free money right everybody wants free stuff so we're going to get it right the party is never going to end on wall street because the money printing is never going to end because the voters want it they want something for nothing because you don't have any republicans trying to explain that there's no such thing as a free lunch you know a lot of people think that it's the democrats that are pulling the republicans to the left right that the democrats have gone so far left that they're pulling uh the republican party uh to the left i don't really think that's what's happening i think it's the republican party that is pushing the democratic party to the left because the republicans are moving so far left

30:33 they're basically crowding out the democrats i mean they're they're being forced to go even further left to out bid the republicans for free stuff i mean that's what's going on i mean nobody is standing for liberty and individual government and small government so if the republican party is moving left and promising all kinds of free stuff the only way the democrats can stay relevant is to go even further to the left so don't blame the democrats for this shift to socialism blame the republicans because they've basically given the democrats no choice uh by moving to the left themselves that's the only territory that they left open you know and while i'm on politics too the good news is that biden's lead over trump seems to be dwindling in the polls and i think trump now has a better chance of winning than he has had you know at any period in the recent past and i think that a lot of that has

31:35 to do with the riots and the looting and the crime problem and that the fear uh that is now with the electorate so i think that a lot of this black lives matter stuff a lot of these protests and riots i think have backfired on the democrats i mean they were probably hoping that this would hurt trump by painting him as a racist and and showing that his administration has fostered this racism and and all this violence and that somehow the violence would stop if we elected biden but i think what's happening is more and more people are believing that the violence will actually get worse if we elect biden so this may actually be helping the president i still think the odds are that he's going to lose uh but i think it's a lot closer now than i used to think i mean maybe it's even uh a 50 50 shot and it depends on how these trends continue to play out but one thing in particular that will work in favor of of the

32:46 president i i read this uh this interview online national public radio did an interview with vicky osterweil and i i tweeted out i put on my facebook page a link to this article and she wrote a book and the title of the book is in defense of looting and the interview was about her book and you know how how does she defend looting now first of all looting is indefensible there is no defense for looting looting is wrong i don't care the circumstances i don't care why you're doing it looting is stealing stealing is always wrong right you're not supposed to steal so there is no rational defense for looting of course she doesn't make a rational defense she has a completely irrational defense for looting uh now number one uh you know obviously don't waste your money buying this book right it there's no point in even in even reading it i i can you know give you the synopsis but of course if you do want to get a copy make sure

34:04 you steal it don't pay for it i mean what why would you buy a book that defends looting i mean just loot it right just you know go out and and take it obviously you can't do that with amazon or something like that so you have to find a brick and mortar bookstore if there's still one around and if you see the book on the shelf you know you just take it although the problem is the bookstore itself would have had to pay for it so i don't know how you steal the book but still pay the bookstore because you want the bookstore to get the money you just don't want the author to get the royalty because obviously this person doesn't believe in private property and doesn't believe that people should have to buy anything so why should she get paid anything for having written a book but that's you know a separate story i want to just go into some of the more crazy parts of this article and i would recommend that you read the

34:56 entire article because this is some scary stuff and this is the kind of stuff that's going to make a lot of people who might have voted for joe biden vote for donald trump i mean the real trump haters are not going to vote for trump right it doesn't matter but there is a group of voters who are undecided who could have gone either way they might have gone trump they might have gone biden because i think the electorate is pretty much polarized you've got the people who really love trump even though trump is not a conservative free market guy you have a lot of tea party republicans who love trump anyway i mean they don't care that he's making government bigger and running up the debt even though the tea party was all about the deficit spending and reigning in the debt even though trump is the biggest spender yet he still is you know he still has the full support of a lot of these republicans

35:48 but then you have all the the the trump haters and they're going to vote against trump no matter what the trump lovers are going to vote for trump no matter what i don't think there's any real biden lovers i think biden's base are the trump haters you know that's his base uh and so he's gonna get the trump haters trump's gonna get the trump lovers but then you have the people who are in between and it's the people who are in between some of those guys who may have voted biden they read some of this stuff they read articles like this about you know in defense of looting and they're going to want to vote for trump so i'm going to read just a little bit from this article and the reason i want to actually read from it is so that nobody thinks i'm making it up because otherwise you're going to think that there's no way that anybody could be this dumb and say something this stupid well uh she is and she did and so i'm just

36:40 going to read it from the article so she says one thing about looting is it freaks people out god how would it happen why would it free people out he says but in terms of potential crimes that people can commit against the state it's basically non-violent okay so it's non-violent right well i mean some of this looting looks pretty violent but she's saying well it's not you know she's not hurt they're not hurting people they're just stealing stuff right but let me continue you're just mass shoplifting most stores are insured it's just hurting the insurance companies on some level i mean it's just money it's just property it's not actually hurting any people so this is an exact quote so she's basically saying hey no one's getting hurt i mean it's just money it's just property right we're just stealing money and property how would that hurt somebody well what about the person whose money was stolen whose property was stolen

37:36 well then she says well you know it's it's all insured all these companies have insurance so maybe it's just the insurance companies that get hurt but but who cares about them i mean first of all not all of the losses are insured there are deductibles there are copays but when the insurance companies lose money people own those insurance companies shareholders own those policies and they have to suffer the losses but then what happens is the insurance companies have to raise rates on the businesses that they're insuring and now a lot of those businesses can't afford the higher insurance premiums so maybe they have to go out of business or certainly if they stay in business they have to raise their prices so that they can generate enough extra sales to cover the higher cost of insurance and so everybody ultimately suffers when insurance companies are forced to raise premiums to cover these losses that this

38:35 woman thinks don't actually hurt anybody because the losses are just you know paid by the insurance companies but as dumb as that comment was she gets much dumber it gets way way worse than that all right so let me let me go on to some more pearls of her of her wisdom right so here's what she says about looting she says it does a number of important things it gets people what they need for free immediately which means they are capable of living and reproducing their lives without having to rely on jobs or a wage which during coveted times is widely unreliable or particularly in these communities is often not available or it comes at great risk that's looting's most basic tactical power as a political mode of action so in other words she thinks looting is great because people get what they need for free all right well then i mean well how is that different than just stealing you know at any time

39:43 i mean what what what difference if if you steal something and the good part about it is you get what you need for free then why is that only good during times of mass looting if getting things that you need for free even if you have to steal them if that's a good thing well then it should always be a good thing which of course it's not theft is wrong you can't just steal something because you want it or because you need it right this is this whole thing is ridiculous but she's trying to say this is the great part about it it's because people get what they need without having to work without having to rely on a job right why should you have to have a job and work to get stuff you should be able to get stuff for free and looting is a way to do it but again it gets worse let me read a little bit more but this is a longer paragraph i'm going to read this and then i'm going to comment on it

40:36 right she says looting also attacks the very way in which food and things are distributed it attacks the idea of property and it attacks the idea that in order for someone to have a roof over their head or have a meal ticket they have to work for a boss in order to buy things that people just like them somewhere else in the world had to make under the same conditions it points to the way in which that's unjust and the reason that the world is organized that way obviously is for the profit of the people who own the stores and the factories so you get to the heart of that property relation and demonstrate that without police and without state oppression we can have things for free get that what she is saying is that the problem is capitalism the problem is private property and looting basically shows you how good the world could be if we didn't have capitalism and private property and if we didn't have to have

41:45 jobs see what she's saying is the problem is people have to get a job and earn money and then they have to go buy things and the people who made those things also needed a job they were forced to work by their greedy employer and so now just because they wanted money because they had to buy things they had to go to work right and now other people have to go to work to buy the things that the people were forced to go to work to make and looting just shows you that if we didn't have this system if we didn't have capitalism and private property we could all just loot and see nobody would actually have to work to earn any money because we could all just steal and so nobody would need a job because everything would be free you see according to her if we didn't have capitalism and private property everything would be free now of course the sheer idiocy of this statement is where would all the free stuff come from

42:42 if we didn't have private property if people didn't have to work to produce stuff she wants to live in a world where nobody has to go to work because nobody needs any money because everything is free well where is the stuff going to come from you know if you go back to countries that had this ideology right the soviet union before it fell or you know you go to maybe cuba today or places like that or north korea is there a lot of looting going on in those communist countries no because there's nothing to steal you you you can only have stuff to steal in a capitalist society where stuff is made if people don't have to work for a living they're not going to work and if they're not going to work nothing is going to get produced and people aren't going to risk their capital to start businesses they're not going to innovate they're not going to create products if they if they can't make a profit

43:36 and you're not going to have all this production if you don't have a market allocating resources based on market prices and profitability i mean if we don't have all the things that she hates then there's nothing there's nothing for free see this woman wants all the benefits of capitalism without without having capitalism she wants people to be able to get everything for free and not realizing that the only way that they can get stuff for free is if they if there's a uh free market that produces it and then they steal it right she somehow thinks that we can all be looters that everybody can loot we can't you have to have some people making this stuff that's getting stolen and it's only going to get made in a free market economy with private property and with capitalism but clearly this woman is a communist right she doesn't believe in capitalism she doesn't believe in in private property i mean i'm wondering

44:42 does she believe that when you steal something that then it's yours or does somebody have a right to steal it from you right you know but she doesn't believe in any of this stuff but she's using looting right as a way to advance her socialist agenda which is exactly what's going on with black lives matter and it's so unfortunate that so many people are so afraid of being called a racist that they're just bowing down and doing everything that these guys at black lives matter want their their funding they're making all these contributions to an organization that's main motivation is to destroy free market capitalism or what's left of it and they want to continue to push america in a socialist you know communist direction and when you read stuff like this you know this lays it bare this makes it extremely obvious uh where they're coming from and you know this now is much better i mean forget about

45:39 global warming right climate change that's taking a back burner now it's systemic racism that is the problem that has to be eradicated and the way to get rid of this systemic racism is through socialism i mean that's how they wanted to get rid of global warming is through socialism but now this is this is a bigger more real threat and this requires socialism as the only the only remedy and while i'm on the topic of the black lives matter protests and riots i want to update everybody on the situation with george floyd and jacob blake because i talked about both of these individuals a couple of podcasts ago first on george floyd i basically went over what i saw in the body cam footage from three of the four officers and after i did that interview i then was able to read a motion to dismiss that was filed uh by chavin's attorney who was the guy that had the knee on floyd's neck and and read that motion

46:45 in its entirety and i rec i recommended everybody read it uh and i know that you know i expect that a defense motion to be trying to exonerate the accused you know i get that it's gonna be biased but look this is open is shut as far as i'm concerned i i don't see how there's a prayer of the prosecution convicting any of these cops especially with the new evidence that came out i didn't even see some of it where you had uh the the coroner's report basically confirming that if they had found george floyd anywhere uh with all that uh drugs in his system that they would have just ruled it a an overdose that it was just a political pressure uh that caused them to say it was a homicide even though there was nothing in the autopsy itself that would suggest homicide the only thing that the autopsy showed was an individual that had chronic medical conditions and lethal doses of of narcotics in his system and in fact i i mentioned

47:48 on the podcast that it looked like that he had swallowed some fentanyl in the car that when the police first encountered him there was this white dot that you could see on his tongue and then he swallowed it well what i found out later is that floyd was arrested by police a year earlier and he had drugs and what he did is he quickly swallowed the drugs so that the police would not find the drugs on him so he may have done that he may have when he saw the police coming because the police mentioned that there was a lot of fumbling around in the car before they got there i have a feeling that what floyd did when he knew the police were coming and he had the fentanyl he just quickly swallowed it a much bigger dose than he would normally take because you know he wanted to hide it from the police he didn't want to get caught with the drugs so he swallowed the drugs and so that's why he had such a large

48:42 concentration in his system when he overdosed but i happened to watch court tv report on this last night and the reason i watched i don't normally watch court tv but i had read something that they were going to talk about it and so i wanted to see how they covered it and i was very surprised at how honest they were everybody agreed on court tv that the evidence pretty much substantiated the defense's case and exonerated the officers including shavin and what was so i'm not sure the word for it um interesting funny uh but the way they approached it is that they were almost apologetic for having to report this this story right because you would think that the idea that racist cops did not murder george floyd that would be good news right because if you're worried that cops are racist and they're going around shooting people who are black and then when you find out that that didn't happen wouldn't that be good news

49:52 except everybody wants them to be guilty everybody wants to believe that the cops are racist and that they are killing black people and so the fact that they have to report that that did not happen they're they're apologizing for it and in fact there was a woman that was on the panel and and basically what she said is she was going out of her way to really say look i sympathize with the black lives matter cause i really do she said i know how horrible it is to be black in america it's terrible i mean you black people really have a raw deal in america you know and that the police are unfairly targeting them all the time she said there are probably hundreds of thousands of examples of police unfairly targeting african americans hundreds of thousands of examples but for some reason we just picked this one right we just happened to catch this on film and she mentioned that this case the george floyd case is one

50:55 of these rare cases where there wasn't any racism where he wasn't unfairly targeted where he wasn't murdered right so we just picked the wrong example that we should have picked one of the other hundreds of thousands of cases where this does happen but it just didn't happen in the george floyd case which i thought was unbelievable there aren't hundreds of thousands of examples the fact is there aren't that many examples that i know that are black people do they look more suspicious in certain circumstances yes they do but it has nothing to do with racism and it has to do with the demographics of of who's committing the crimes and the police naturally being more suspicious of people who fit the profile of people who are committing crimes which in many cases are young black males and so yes they are going to be scrutinized more often than older white females who aren't committing crimes in anywhere near

51:56 the numbers but nowhere near the hundreds of thousands that she's talking about and in fact you know they went over a lot of good stuff on this court tv but you know some of the things they didn't even mention and another fact that i learned from reading the memorandum of law in support of the motion to dismiss and again i linked that on my twitter and you can actually go online and read the entire motion all the exhibits are online as well including the very powerful exhibit that i mentioned on the last podcast where you can see the officer with his knee on the suspect's neck who is handcuffed to the ground lying on his stomach and and this was the procedure uh that they were trained to perform but as far as murder right because they're charged with murder uh degree murder which you know they're intending to kill floyd a couple of other facts that came out was number one so originally the officers they called

52:55 an ambulance and then chavin who was the the you know the the the veteran who had been on the the force for i think almost 20 years a couple of the guys were rookies i mean they just started right so chavez says oh you called it ambulance what kind of code did you use and they used the wrong code and chavez said no no you've got to upgrade that to a code three because we need the ambulance to come here right away so you need to tell them it's code three so the ambulance will get here quicker now the significance of that comment is obvious the prosecution is saying that chavin intended to kill george floyd he wanted george floyd to die well that comment is inconsistent with that desire if you want to kill george floyd why would you want the ambulance to get there sooner rather than later you'd want to delay the ambulance as long as possible to give you time to kill him right so clearly if he's trying to get the

53:49 ambulance there sooner it's because he doesn't want george floyd to die and another example of chavin's intent to help george floyd despite having a knee on his neck is that there was some discussion about putting george floyd in a hobble and what that is is a restraint mechanism where you kind of tie him up and again the reason that they were restraining him on the ground he was resisting arrest but they wanted to make sure that he didn't injure one of the officers or injure himself they were actually worried that in the condition that he was in he could have injured himself in fact he could have ran into the street busy street he could have been hit by a car so they're trying to restrain him while they are waiting for the ambulance to arrive on the scene and so they talk about hey should we put this guy in a hobble and then um javin says no no no let's just hold him here because if we put him in this hobble when the

54:52 ambulance gets here it's going to take a long time to get him out of the hobble and put him into the ambulance and so we don't want to delay we want to get him into the ambulance as quickly as possible so instead of putting him in this hobble which might slow down our ability to get him into the ambulance let's just hold him here until the ambulance comes and then we can put him directly into the ambulance now is that sound like a guy who wants to kill floyd course not he's thinking about the best way to save his life now you can argue that maybe he shouldn't have kept his knee on his neck but again i'm pretty convinced that the knee on the neck had nothing to do with his inability to breathe and had nothing to do with why he died i mean the one question that i still haven't seen the answer to is why didn't the police try to administer cpr on their own why did they wait for the ambulance because that maybe could

55:49 have saved his life i don't know if it could have i mean maybe not he might have been too far gone and i'm not sure how well trained they were in in cpr maybe they thought that it's better to wait for the professionals then try it themselves but that's what they could have done it's not that hey why didn't he take his knee off his neck the knee on the neck wasn't doing anything it's why didn't they take the knee off the neck and then use cpr right that's what didn't happen and i you know we'll see if we get some information i'm sure that uh chavin has a logical explanation for why he didn't do that because it certainly seemed that this guy uh was clearly concerned about doing the right thing for george floyd the fact that george floyd died anyway it's not because uh chavin or any of the other officers had any intention uh to kill him but we'll see i mean the charges should be dismissed against all four of these

56:46 officers at a minimum against the other three certainly the rookies who were simply you know i mean they were they were deferring to chavin one of the guys did say maybe we should roll him on his side or do something else but chavin said no i think we should leave him here and you know he he's the one that's got seniority i mean if you're if it's your you know first month on the job and a 20-year veteran says we should do something who are you to say he's wrong i mean you're going to respect the judgment of somebody who's been a policeman for a lot longer than you have there's a certain hierarchy you know on the force and and and rookies will defer uh to somebody who's seasoned and probably you know has explanations for why he's doing things that maybe you know you don't understand because you haven't been on the force long enough so certainly the junior guys uh i mean there's there's i mean

57:35 those charges should be thrown out but i don't see how they can even have a charge against chavin given all of the evidence also again i want to update the podcast on jacob blake because i did mention the jacob blake situation on the last podcast he is the guy in kenosha uh who was shot in the back seven times uh kids in the back seat and you know at the time you don't really know again you just see a little bit of this video and yeah it looks really bad hey they shoot this guy in the back and that's all you know well a lot of information has come out since then such as that he fought with police he basically overpowered the police he had put one of the policemen in a headlock so he assaulted the policeman while he was resisting arrest the police tried to subdue him with tasers right they didn't just start firing their guns they tried the tasers the tasers didn't work he was shot twice with tasers and apparently it had no

58:33 effect and also the guy wasn't unarmed he had a knife he had a knife in his hand which is a deadly weapon apparently some of the eyewitnesses overheard the police asking or demanding that he drop the knife he did not do that uh he continued to run towards the car which by the way the car did not belong to him i'm not sure maybe it was his ex-wife's because i think they initially responded to a domestic dispute or maybe maybe it wasn't his wife just a mother of his kids i i really don't know all those details but they had been called in on a domestic dispute and that car that he was trying to get into did not belong to him those were his kids i think in the back seat but it wasn't his car and i don't really know you know what was going on in the minds of the officers as far as if they knew who the kids were if they were worried about the kids or any of that but they clearly were trying to subdue

59:23 this guy who was resisting arrest who had a knife and was running towards a car as they're yelling stop you know go to the ground stop he keeps going to the car and who knows what he's reaching for in the car maybe they think he's going for a gun who knows but the last thing they want to do is find out i mean if you think somebody might be going for a gun you don't have to wait to actually get evidence of the gun because by the time you wait for the guy to turn around with a gun in his hand he shot you right so if you're a policeman and you don't want to get shot and you're telling a guy to go to the ground and he's not doing it and he's already attacked you and he's already resisted the tasers and he had a knife he had one weapon and he's going to get maybe another one i mean maybe the police had reasonable cause to fear for their own safety and to shoot him you know so again you you know there's a

1:00:13 lot of encounters that police are going to have uh with citizens particularly citizens who are committing crimes and at this point pretty much everything is going to be caught on film now right everybody's got a cell phone everybody can start filming the minute anything starts happening and all you have to do is just rush to judgment based on seeing a small piece of information and that's what this guy you know the lawyer for the george floyd case this guy crump he is the same guy from trayvon martin i had the guy that did the trayvon martin hoax on my podcast where they put on a false witness they made up this false narrative about this uh little boy a 12 year old boy uh just going to get skittles and iced tea and how he was gunned down by a a racist a white racist who ended up being a white hispanic the whole thing was a lie they put a false witness on the stand uh they put some woman who pretended she

1:01:18 was trayvon's girlfriend who pretended she was on the phone with trayvon before zimmerman uh shot him uh the whole thing was a lie the whole thing was made up the same thing with you know the michael brown hands up don't shoot it turns out that he didn't have his hands up he wasn't saying don't shoot he was trying to get the gun away from the policeman and that's why he got shot is because he went for the policeman's gun and he ended up getting shot but the left immediately believes these false narratives and that's exactly what they've done again i mean you got this guy and he comes out there and he immediately puts a spin on there and you know even though the autopsy right the original autopsy that was actually performed basically concludes that he died of a drug overdose because there's no other conclusion when you read the toxicology report and you read the autopsy there's nothing else that you can conclude

1:02:08 but that he died from a drug overdose but there was some political pressure on the you know on the office to say that it was a homicide even though it wasn't but then the family brings in their own ringer to do an autopsy right where they pay this guy forty thousand dollars and he doesn't even do a real autopsy he doesn't even get a new toxicology report i don't even think he had access to the body i think he did the autopsy simply by looking at the cell phone video but then this guy comes out and says oh he was asphyxiated he died of a fixation because there was a policeman's knee on his neck even though the actual autopsy revealed no signs whatsoever affixiation but why did this guy say this a because he got paid forty thousand dollars to say it but b because uh the parents or the the family of george floyd is going to file a multi-million dollar wrongful death lawsuit against the city

1:03:01 and they're going to collect on that lawsuit based on a murder not based on a drug overdose so they got to bring in a ringer who will say that that george floyd was murdered by the cops because that's the only way they can collect a big check for wrongful death and that's the only way the lawyer can get a big payday he has to get 40 percent of a big number so they bring in someone to lie i mean why can't anybody point this out i mean why would anybody believe that this autopsy performed by a hired gun from the family of floyd that has a massive special interest in this being a murder and not a drug overdose why would anybody believe these results but the irony of this i think the family is gonna end up collecting i bet that there's gonna be a big out of court settlement they're gonna get a bunch of money for this and you know what so the officers might get checks too i mean i think these

1:03:58 officers also have even better lawsuits than the george floyd family because i think the department basically sacrificed them to appease the mob i think they had all the information at their disposal they didn't stand behind him in fact i think that the chief of police when he tried to say that oh i don't know why they would put their knee on their neck we don't have anything in our procedures we never have holds where you put knees on people's necks even though the training manual has the exact thing there with a photograph of an officer kneeling on a guy's neck so i think that these officers have a wrongful termination a lawsuit against the city and defamation and all kinds of damages so i think that taxpayers uh are gonna are gonna be paying you know on both sides of this they're gonna pay the family of george floyd and they're gonna pay uh the officers who were wrongly accused and wrongly tried and of course

1:04:55 depending on how long this whole thing goes on are they going to drop uh the charges or they're going to actually go through the cirraid of a court and then an acquittal and you know the riots that are going to be associated with that you know the longer we want to pretend that these guys actually murdered george floyd the worse it's going to be when they're acquitted because then the narrative is they got away with murder that's what happens i mean that's what happened with george zimmerman trayvon martin there's like oh he got away with murder that just shows you how rigged the system is you can kill a black man in cold blood even if the whole murder is caught on film and if you're white you can get acquitted right even though you know one of the officers is black but this is just gonna support the narrative right that uh it's a rigged system that you can't get justice that it's okay to kill black people

1:05:45 you know and maybe maybe this is what people want maybe people are happy right to falsely charge people who are innocent knowing they're going to get acquitted knowing that the acquittal will even do more to advance the first the false narrative than the the initial charge but anyway where i got into this whole discussion at the beginning is i think all of this stuff that's happening now i think it's all going to backfire on the democrats and it is going to cause a number of voters who might otherwise have gone for biden to go for trump whether it's enough to swing the election back to trump i don't know but i certainly think it's the best chance that he has um and so it's not it is not going to deliver the result that the left expects in going from the sublime to the ridiculous i want to conclude this podcast by talking about a lawsuit that was just filed against the mcdonald's corporation from

1:06:50 52 former black franchise owners they used to own mcdonald franchises they don't own them anymore they're suing mcdonald's for a billion dollars in damages which comes to what 20 million dollars per franchisee which seems like a lot of money uh that they claim to have lost uh for these damages but this is basically what they're alleging they're saying that mcdonald's discriminated against them by steering them to depressed crime-ridden neighborhoods and setting them up for failure they're saying that mcdonald's saddled them with a standard 20-year franchise agreement with stores requiring higher security and higher insurance costs and whose two million dollar average annual sales from 2011 to 2016 were seven hundred thousand dollars below the nationwide norm as a result of having restaurants in uh crime ridden areas with lower sales uh oftentimes they went bankrupt and they're saying this is mcdonald's fault

1:07:59 that somehow mcdonald's forced them to open up these restaurants and deliberately set them up for failure which makes no sense i mean why would mcdonald's want their own franchisees to fail i mean it is a symbiotic relationship they want the franchisees to succeed so that they can succeed so they didn't deliberately set them up for failure but they failed i mean restaurants fail all the time businesses fail all the time that's why it's so risky to go into business that's why so many people choose not to do it they go for the security of a paycheck a steady paycheck they don't want to risk entrepreneurship but clearly mcdonald's did not force these franchisees to open up restaurants in neighborhoods that had more crime i mean look people are opening up restaurants in the communities in which they live most likely so if you have a black community there's a high probability that the person who wants to open up

1:09:02 a restaurant in that community who also lives in that community may in fact be black himself or herself so i'm sure that these franchisees wanted to open the restaurants in their neighborhoods in their communities it's not mcdonald's fault that there was a lot of crime in their neighborhood why are you going to blame mcdonald's for that crime you know i just went over talking about how oh you know looting this woman is saying that there's no victims in looting that it's not you know it's not real violence it doesn't really cost anybody any money well here you have these franchisees pointing out the cost of crime of theft meaning that the restaurants had to pay higher costs for security maybe there were more people that weren't paying for meals whatever there was losses due to theft and because of that uh they weren't profitable but i'm sure not every mcdonald's or burger king or fast food restaurant

1:10:03 in these communities failed but a number of them did i mean what is mcdonald's supposed to do deny uh franchise agreements to anybody in a bad neighborhood because what would happen if they did that what if mcdonald's said oh no no we're not going to allow any mcdonald's in these black neighborhoods because there's too much crime i mean they would really be sued for that so they offered these individuals the opportunity they gave them a standard agreement the same agreement they give everybody they're not saying they gave them a worse agreement they're saying hey you gave us the same agreement that you gave all the white folks you gave us the exact same agreement and you knew that we would fail because you knew that there's so much more crime in these black communities that we couldn't possibly be profitable we needed special treatment right you needed a special deal for black franchisees

1:10:54 that would incorporate all these higher costs and these higher risks i mean give me a break this whole thing is absolutely ridiculous but you know what who knows it may work they get a sympathetic jury if somehow this case doesn't get thrown out of court and they get to a jury you never know maybe mcdonald's is gonna have to cough up the money and you know this is not gonna end with mcdonald's i believe that we have set ourselves up for a wave an epidemic of lawsuits of racially motivated discrimination lawsuits where former employees black employees of every major company are going to get together to get a huge payday by claiming that they were the victims of discrimination because after all if we have accepted the false premise that we have systemic racism and the proof that we have systemic racism is the murder of george floyd which is why nobody wants to admit that it was a drug overdose

1:11:55 they needed to be a murderer because this murder is what proves the systemic racism but once we've accepted the the the false premise that there is systemic racism well now all of these suits could succeed because every problem that somebody had if you're an african-american and your business failed or you lost money or something bad happened to you it's obviously because some racist did it to you some racist corporation or racist individual they they intentionally inflicted this harm on you because you're black right and now you can sue and now the juries are able to take it upon themselves to be uh the basic deliverers of reparations they'll simply look at this as you know a down payment on some type of slavery reparations and they're going to slap all these big companies with massive awards because they're going to think hey it doesn't really cost any money it's a major corporation what do

1:12:58 they care and here's these poor oppressed people whose great great great great grandparents were slaves and they need money and this is what's going to happen and i think it's going to be rampant through the s p 500 you're going to have lots of these lawsuits one after another especially if they win you know or if these companies settle because once they start settling and writing checks right it's like you know waving uh uh uh uh you know blood of a shark right these lawyers are gonna smell that blood and they're gonna come you know from all over with new false claims looking to get a check right and so this is what's going to happen and what is it going to do it is going to undermine the competitiveness of american businesses because now american businesses in order to stay in business are going to be forced to pay this rent this extra rent they're going to be writing all these checks to lawyers

1:13:49 based on bogus discrimination claims and they're going to end up having to settle them and again what is this going to do to the small firms the small firms it's going to make them even less likely even more reluctant to hire african-americans they're going to be scared uh you know out of their wits to do that because nobody is going to want to subject themselves uh to this type of litigation and the only way that a small employer can mitigate the potential legal damage is simply not to hire african americans you know the larger companies can't do that uh because then they'll be sued because of the you know it'll be obvious because they won't have enough african-american employees but if you're a small business you got three four five employees and none of them are black nobody can say you discriminated it's not it's not a large enough pool and so even if you have some really really good quality

1:14:48 black applicants that you really want to hire a lot of people are going to think twice about taking that risk and a lot of people will end up going for a white guy even though they they actually prefer the black eye because they just can't take the risk of this type of litigation and it's going to be much bigger right as a result of black lives matter as a result of all this there's actually going to be more discrimination against african americans and of course they're going to blame that on racism even though racism will have absolutely nothing to do with it it will simply be economics and government that will be driving it but of course the left will like it because now it's going to create even more problems for african americans and now the the left can blame that on racism and use that again to get their votes uh to continue to solidify their power and continue to push this socialist

1:15:41 agenda under the under the veil of combating systemic racism when the whole purpose is simply to use the myth of racism to destroy capitalism

Questions about this episode

Who speaks in "🔴 BREAKING NEWS!! America is a disaster happening in slow motion. Inflation driven rally!"?

Peter Schiff (Host).

What is "🔴 BREAKING NEWS!! America is a disaster happening in slow motion. Inflation driven rally!" about?

The discussion highlights the current state of the U.S. stock market, noting its significant gains in August and new record highs in major indices, despite September typically being a weak month for stocks. The commentary suggests that the ongoing inflation-driven rally may continue, supported by Federal Reserve policies, while cautioning that market participants may be overlooking underlying…

What is mentioned in this GLOBAL NEWS PODCAST episode?

12 people, works and ideas are mentioned, including George Floyd, Tesla, Inc., Vicky Osterweil, Jacob Blake, Apple Inc., Brent Johnson. Each one on this page links to its own page with every episode that mentions it.

How long is "🔴 BREAKING NEWS!! America is a disaster happening in slow motion. Inflation driven rally!"?

The episode runs 1 h 16 min; the transcript is about 13,050 words in 76 timestamped sections.

More from GLOBAL NEWS PODCAST

• All analyzed episodes
• Books mentioned on GLOBAL NEWS PODCAST
• People mentioned on GLOBAL NEWS PODCAST
• Topics mentioned on GLOBAL NEWS PODCAST