On this episode of TFTC, Marty sat back down with Dave Collum to delve into various topics, ranging from elite pedophile rings to the geopolitical landscape to the fragility of the stock market.
On this episode of TFTC, Marty sat back down with Dave Collum to delve into various topics, ranging from elite pedophile rings to the geopolitical landscape to the fragility of the stock market. The conversation transitioned from a detailed examination of various financial services and products, like bitcoin and gold, to personal anecdotes and reflections on family and hobbies such as lacrosse.
One significant takeaway from this rip is the analysis of the current economic state, including the discussion on inflation and the potential for a prolonged bear market in stocks. Dave proposed that market valuations have been artificially high due to a combination of factors over the past four decades, such as declining interest rates and demographic shifts, which may not continue in the future. This could lead to a significant market correction and affect the wealth and retirement plans of many, particularly baby boomers.
Another prominent theme is the exploration of personal finance decisions, such as the comparison between Roth IRAs and traditional IRAs. Dave scrutinizes these financial products, discussing the potential pitfalls and advantages of each, and emphasizing the importance of understanding marginal vs. effective tax rates.
The conversation also touched on the geopolitical landscape, where the implications of the US's actions abroad, particularly in places like Ukraine and Russia, were discussed. The shift in global alliances and the potential waning influence of the US were also considered, along with the role of commodities like uranium and energy in future economic cycles.
Marty Bent
Lastly, the episode included personal reflections on family life, the benefits of spending time with loved ones, and the importance of creating lasting memories. Dave Collum shared anecdotes from his own life, illustrating the value of family connections and the lessons learned from various life experiences.
The podcast episode was rich with insights and reflections on a wide array of subjects. From the looming economic correction and the scrutiny of financial products to geopolitical tensions and personal family dynamics, the episode underscored the interconnectedness of global events, personal finance, and the value of family. The conversation between the hosts demonstrates the importance of critical thinking, questioning popular narratives, and cherishing time with loved ones. As we consider the impacts of our choices on both a personal and global scale, the episode serves as a reminder of the need for adaptability, preparedness, and the prioritization of what truly matters in life.
0:00 - Intro
6:17 - Child trafficking
22:17 - Immigrant flooding
32:13 - Crime syndicates and technocracy
40:47 - Darkness
49:11 - J6
59:29 - Ukraine
1:03:36 - Hope and changing winds
1:10:24 - Election
1:14:24 - State independence
1:18:39 - ETF
1:27:39 - Inflation and correctional
1:53:30 - Geopolitical status
2:02:17 - Great minds
2:09:30 - Tangents
2:24:04- Roth IRAs
2:32:39 - What to do without Bitcoin
2:41:26 - Family
3:05:44 - Lacrosse
3:26:53 - Wrapping up
00:00:00:03 - 00:00:06:09
Marty
Ah, we live now again. We are live. Well, that's, that's. That's the short form content that the kids like these days.
00:00:06:09 - 00:00:10:29
Dave
Quick 20 to 60 said, Thank you for inviting me. I'm glad to be here.
00:00:11:02 - 00:00:12:29
Marty
It was a great show.
00:00:13:01 - 00:00:23:28
Dave
I know. I said it was a great show. Let me see if I can get this fucking camera. This was saying Fuck. It's like going to church.
00:00:24:00 - 00:00:25:09
Marty
Fuck them.
00:00:25:12 - 00:00:26:22
Dave
Fuck them. Yeah.
00:00:26:24 - 00:00:28:11
Marty
It's.
00:00:28:14 - 00:00:29:27
You know, I tell people I said I use.
00:00:29:27 - 00:00:35:04
Dave
The word fuck, like authors use a spacebar.
00:00:35:06 - 00:00:55:14
Marty
Well, there's a lot of fucks over the last 20 minutes. Is the longest it's ever taken us to get to the record stage. We had to restart our computer rapidly. The old tried and true. When things aren't working, just restart the computer. I know you're saying the new world is pretty fucked up right now.
00:00:55:16 - 00:01:31:05
Dave
That's why it's actually driving me a little nuts. And and. And I have people saying. Dave, you're worried about stuff you can't influence. And I go, Yeah, I know. I used to think I could influence it by sort of laying out the story and putting out the truth that maybe somehow that would help, I guess. But. But the, the sense that that, that, that we're just being drowned out by the evil dudes is is pretty overwhelming at this point.
00:01:31:07 - 00:01:43:17
Marty
I think that's a sense. I don't know. I think I think you do a good job. The show particularly I mean you're probably I think you might be our most tenured guest in terms of the amount of times you've been on the show. And I think.
00:01:43:18 - 00:01:45:29
Dave
What's it about? Must be about five now or something.
00:01:46:01 - 00:02:09:11
Marty
I think is six seven now at this point. Could be one of the most favorite guests. And I do think you have an impact and I do agree it does feel like we get drowned out by the evil men and women in this world. But I do think I don't know. To me, it seems like they're they're lashing out, trying to grasp control, more aggressive than they ever have before, which is a sign that they're losing control on the back end.
00:02:09:16 - 00:02:11:18
Marty
They may project strength.
00:02:11:21 - 00:02:17:08
I guess so. But it also feels to me I've sort of narrowed it down to this thesis.
00:02:17:08 - 00:02:48:03
Dave
That there when the Internet showed up, all of a sudden their tactics change completely. So they used to try to get away with shit and now they just try to control the narrative. And so they don't even bother to try to get away with it. They just refuse to acknowledge it. I watched this morning, I watched a clip of Rachel MADDOW saying that, you know, after the Iowa caucuses and Trump won, saying, well, we're not going to show you the winner speech because and we've had this discussion many times, we're simply not going to contribute to him.
00:02:48:06 - 00:02:55:10
Dave
You know, we're not going to help him in any way. And I'm going, you fuck what? Right. I mean, what kind of douche bag are you?
00:02:55:13 - 00:03:08:03
Marty
They did this before, too. Maybe it was his concession speech or not Concession speech. I remember something around 2020 election. Yeah. And then he had Joy Reid saying that Nikki Haley didn't win because she.
00:03:08:03 - 00:03:10:23
Was like, it's like when Kennedy.
00:03:10:25 - 00:03:15:00
Dave
Kennedy said something in a in a CNN or MSNBC.
00:03:15:00 - 00:03:18:07
Interview and they cut it out.
00:03:18:09 - 00:03:28:05
Dave
And then they said that that Kennedy said stuff that they didn't want us to hear, but they didn't tell us what it was that they didn't want us to hear.
00:03:28:07 - 00:03:31:13
And so and I just just, you know, blow your brains out.
00:03:31:13 - 00:03:32:21
Dave
I don't care. I'm sorry.
00:03:32:27 - 00:03:34:01
I'm starting to get militant.
00:03:34:06 - 00:03:40:15
Dave
I'm starting to get sort of gene pool scrubbing mentality. Maybe, maybe, maybe I have a mental problem. I don't know.
00:03:40:17 - 00:03:43:00
Marty
Well, we know you have a mental problem, but we do.
00:03:43:05 - 00:03:54:20
Dave
We do know that, don't we? You know that. We do know that. And so maybe. Maybe we're doing too many podcasts. Maybe I've got some podcast disease or something.
00:03:54:22 - 00:03:57:09
Marty
It's the best disease that you're going to have on.
00:03:57:11 - 00:04:03:02
Dave
If I can't imagine what you have right there, how many days a week do you do?
00:04:03:04 - 00:04:07:06
Marty
There are 2 to 3 depending on the week.
00:04:07:08 - 00:04:08:27
Dave
Where we're tying each other.
00:04:08:27 - 00:04:34:24
Marty
Now what I mean, while we're on it, I mean, that's, I think the big news topic of the day. Iowa caucuses last night, Trump won by a landslide. And now everybody's trying to position him as the the fascists that we need to protect the country from. And that'll be the narrative over the next nine months. This is the most important election of our lifetime.
00:04:34:27 - 00:04:47:24
Marty
We must stop Trump at all cost. Despite what the Biden administration has done over the first three years of three odd years of his administration, his.
00:04:47:26 - 00:05:07:14
Dave
Presidency is nothing but disastrous. Not no. I noticed when when CNN or MSNBC, the same thing showed the results they clipped out Trump's numbers so that the screen was on Haley. And what's his name? DeSantis.
00:05:07:16 - 00:05:09:17
She said, This is great news because we're down.
00:05:09:17 - 00:05:16:19
Dave
To a two man race. And someone said, Are you aware you took third? Yeah.
00:05:16:22 - 00:05:22:14
But so so watching that, you know, did you see.
00:05:22:14 - 00:05:23:00
Dave
That woman.
00:05:23:00 - 00:05:23:27
On Sunday.
00:05:23:27 - 00:05:32:15
Dave
Morning talk shows that which is sort of the highest level of mainstream media. And and she said she's expecting black swan events.
00:05:32:18 - 00:05:34:09
Marty
Yes.
00:05:34:12 - 00:06:03:10
Dave
I was on a Zoom call. I'm in this Stockton, Zoom group. And we had a guy who's he's not CIA. He he gets described as a lieutenant colonel. And if you watch him on Fox or whatever, they just introduced him as lieutenant colonel. But it turns out he's he's. His name is Shaffer, Anthony Shaffer, FHA, FFR, and but they actually introduced him as a lieutenant colonel.
00:06:03:12 - 00:06:26:03
Dave
But that was my cover. I was basically DOD case officer. So it's kind of like the DOD's version of the CIA and and I can't remember where I was going with that. But but but it it was an extraordinary interview where he talked about all the things going wrong in the world. And he's he's is not he is us, actually.
00:06:26:05 - 00:06:47:19
Dave
And at the very end, I said, look, I'm I'm going dark. And I said, I'm talking about things like child trafficking and stuff like that. He started talking about Epstein. I now know not Epstein, We all know about Epstein. I'm going darker. And I said, okay, let me ask you this question. Is the Clinton Foundation trafficking children? He goes, Oh, absolutely.
00:06:47:21 - 00:06:51:00
Dave
Oh, okay. I can't answer my question. You know.
00:06:51:02 - 00:06:53:12
Marty
If they got caught red handed and he.
00:06:53:12 - 00:07:04:10
Dave
Found Laura Silsby. Laura Silsby, Yeah, but is she officially Clinton Foundation? I don't know. But the Clintons bailed her out. She got caught twice, actually. Yeah.
00:07:04:13 - 00:07:06:18
I'm having a little bit of a crisis on writing.
00:07:06:18 - 00:07:10:12
Dave
About it, because as hard as I've been writing about child trafficking.
00:07:10:15 - 00:07:12:24
But there's this one site.
00:07:12:27 - 00:07:16:11
Dave
That I found that's a goldmine of links, just a true goldmine.
00:07:16:11 - 00:07:17:18
It's like the Encyclopedia.
00:07:17:18 - 00:07:36:06
Dave
Of Child Trafficking. And the problem is I go, Well, why am I writing about it? Then just go to that websites or click on links or read about it. Now they don't write about it the way I write about it. But. But it's still I. I was digging through it last night. I go, It's all here. I mean, it is all here.
00:07:36:09 - 00:07:38:24
Dave
And, and.
00:07:38:26 - 00:07:42:08
And when you read about that story, you end up conclude that.
00:07:42:08 - 00:08:10:27
Dave
There's things going on that the average person on the street cannot fathom, that they're just so far outside. They're they're they're the known world to them. And you sit there and you go, I don't. Am I too deep? Is it getting too weird if I if I signed off on stuff that just is profoundly illogical? You lost your mind and but but then you'll see something that says, no, there's more evidence right there.
00:08:10:29 - 00:08:15:11
Dave
So I mean, so.
00:08:15:13 - 00:08:21:18
Marty
I mean, damning. You're waiting for part three, but it seems like it. I'm not I can't imagine writing it.
00:08:21:20 - 00:08:23:27
Dave
I'm writing.
00:08:24:00 - 00:08:32:18
Marty
What? I mean, what what do you think the common man can't stomach or fathom? Like how how dark? I mean, I felt in the context.
00:08:32:20 - 00:08:36:04
Let me give you the darkness. The darkness is a claim that Anthony Weiner's.
00:08:36:04 - 00:08:40:27
Dave
Laptop has video footage that veteran cops can't stand or watch.
00:08:41:00 - 00:08:42:17
And it includes.
00:08:42:19 - 00:09:09:02
Dave
Footage now this, this, this, this will cause your viewers to hang up right on the spot. Hillary Clinton slicing the face of a child. And I'm going, oh, that's a little different, isn't it? And and it's actually a veteran cop who's describing this footage, one of nine, who actually got to see the contents of the laptop and supposedly one of nine who are no longer with us.
00:09:09:04 - 00:09:13:15
Dave
So they all die. Yeah. And so, you know, I don't.
00:09:13:15 - 00:09:15:17
Think the average person has even a micro.
00:09:15:17 - 00:09:30:06
Dave
Smidgen of a capacity to process something like that. Now, it's also possible it's not true, but I've read enough now. I'm pretty sure pizza gets real. I'm pretty sure that I'm pretty sure that child trafficking is a.
00:09:30:06 - 00:09:30:26
True.
00:09:30:28 - 00:09:59:05
Dave
Extraordinarily broadly based thing globally. And and it's being done by people of of great power and wealth. And it's not being done by just, you know, your archetypical perv with a van that says free candy on the side and and and then the question is, how do you separate fact from fiction? How do you know you're not getting some limited hang out baloney?
00:09:59:07 - 00:10:02:01
Dave
Yeah, I think it's got me a little spooked as I'm writing about it.
00:10:02:01 - 00:10:05:04
And there's people have said worse things.
00:10:05:04 - 00:10:19:04
Dave
And I will say like Liz Kraken, but I'm a little nervous that I'm misreading the room. And if if say, for example, as Kraken is limited hangout, then I could find myself in.
00:10:19:04 - 00:10:19:29
Trouble where she's.
00:10:19:29 - 00:10:25:12
Dave
Not. And I worry. I'm worried.
00:10:25:12 - 00:10:26:18
I'm the FBI informant.
00:10:26:18 - 00:10:35:16
Dave
Who gets arrested, put in prison for 20 years because I thought I was part of the team and also think I'm not not worth on you in jail. So you know, that sort of thing.
00:10:35:19 - 00:10:50:12
Marty
Yeah. No, I mean, I fell down this rabbit hole pretty, pretty deeply in 2020 when Pizzagate first popped off. And, I mean, I think there is a lot of noise around, obviously, QAnon. I think QAnon was a psyop to sort of just paint.
00:10:50:12 - 00:11:05:13
Dave
A conclusion to. Yeah, well, it's a name. It's it's, it's like a conspiracy theorist name. Alright, pizza, you know. Q Anon, conspiracy theorist, pedophile, if you want to throw that in there now.
00:11:05:13 - 00:11:14:03
Marty
But I remember vividly going to that dude, James Alphonsus Yeah. Instagram account before he scrubbed it and taking screenshots.
00:11:14:05 - 00:11:15:14
Dave
Jimmy Comet. Jimmy God.
00:11:15:14 - 00:11:15:27
Marty
Yes.
00:11:16:01 - 00:11:19:27
Yeah, yeah. No, no, Screengrabs are all out there.
00:11:20:00 - 00:11:29:10
Marty
I Yeah, I have some personally so they're not like doctored. Like I went to his account the day the people found it and those pictures alone nothing I.
00:11:29:10 - 00:11:31:18
Sponsored stunning yes stunning stuff about.
00:11:31:18 - 00:11:33:22
Dave
Having sex with five year olds and stuff. Yeah.
00:11:33:25 - 00:11:38:04
Marty
Taking pictures in the White House with Obama playing ping pong like.
00:11:38:06 - 00:12:04:10
Dave
Yeah, it's all out there. The Internet never sleeps, right? And so I have found a vast quantity of stuff. So much so it's hard to process, right? It would be like someone who stumbled into economics that I'm going to write about economics, you know, and and it's so dark and disturbing. But the thing I keep coming back to is.
00:12:04:10 - 00:12:05:03
That the official.
00:12:05:03 - 00:12:27:29
Dave
Numbers from UNICEF or the International Agency for Abuse and Missing Children, all of which I think are staffed by pedophiles, if you really want to come down to it, I think, you know, you want to you want to run a child trafficking thing. You just make sure that you staff the top positions and organizations that are supposed to fight child trafficking.
00:12:28:01 - 00:12:30:20
Dave
I don't.
00:12:30:22 - 00:12:32:25
I still don't know fact from fiction, but.
00:12:32:25 - 00:13:04:04
Dave
I do know that that if 10% of it's correct and then then we've got a monstrous problem, evil people. The overlap of pedophilia with Satanism is massive. That Venn diagram is huge. They're always nearby. The the official statistics claim anywhere from 1 to 10 million kids a year disappear globally and there are not enough firms in the world to swallow up 1 to 10 million.
00:13:04:06 - 00:13:11:09
Dave
Right? It just so so you can't explain it is just a bunch of perps having sex with a bunch of kids.
00:13:11:12 - 00:13:24:10
Marty
So speaking in limited hangouts like is Epstein a limited hang out? Was that like a nugget? They threw us like, Oh, we'll take down the big the big connector and this will all be done.
00:13:24:12 - 00:13:41:18
Dave
He got written out of the plot. Yeah, he, he it's like a soap opera And he of sudden they said okay, we're going to write him out next year. Now I'm not convinced he's dead by any stretch of the imagination. The cadaver they willed out did not look like Epstein to me.
00:13:41:20 - 00:13:43:27
Marty
You know, it's very different. Yeah.
00:13:44:03 - 00:14:07:10
Dave
Yeah. Well, not just the ear. The nose to me was different. It turns out that the profile of Epstein in the profile, the guy on the gurney, anyone can look this up. Look up dead Epstein, look at his nose and look at Clive Epstein's nose. I told you about the funny, the funniest conspiracy theory in history about the Internet discovers that the guy on the gurney doesn't look like Jeff Epstein.
00:14:07:13 - 00:14:27:00
Dave
And so then they find the guy who's sitting there in a baseball game wearing a mets cap, and. And they go, That's that guy looks like Jeff Epstein. That guy looks like on the gurney. I mean, and he died two weeks earlier. So that generated a cadaver. And there was he died with little fanfare, no cause of death, nothing.
00:14:27:02 - 00:14:31:11
Dave
And and it turns out it was Hillary's brother.
00:14:31:14 - 00:14:32:17
Marty
What? Yeah.
00:14:32:20 - 00:14:57:06
Dave
Yeah, yeah. Lori's brother died two weeks before. Jeff Epstein? No cause of death. Very few articles about him. And. And you're looking at me. Go. That could be the guy on the gurney. And so the the the internet said maybe some spook with a phenomenal sense of humor sent Hillary a message. Oh, you can imagine.
00:14:57:07 - 00:14:59:04
Say, you know, if we whack him, we could.
00:14:59:04 - 00:15:03:13
Dave
Put him on the gurney and that would be just funnier and shit.
00:15:03:16 - 00:15:06:00
You know? And so so.
00:15:06:06 - 00:15:06:10
Dave
You.
00:15:06:10 - 00:15:07:10
Know, I give.
00:15:07:10 - 00:15:18:03
Dave
That a low percent probability. But, you know, if I were a spook and I thought of that, we have to do this one right? This one's this is too good. Now we have got to do this one.
00:15:18:06 - 00:15:33:27
Marty
Well, that I mean, I send a message. Maybe there's good people out there who want to fight this. And that's a big question. Is the Satanist tie did you see Out of the Shadows that documentary? Yeah, I think Liz was in that and. Mm hmm. I mean, it's pretty Well, if you had a little document.
00:15:33:29 - 00:15:35:13
If you had a list cracking on.
00:15:35:15 - 00:15:37:29
Marty
I have it now.
00:15:38:02 - 00:15:41:20
So Liz is out there battling like crazy.
00:15:41:23 - 00:15:59:02
Dave
She she still could be limited. Hang out. She's on a board of one of those agencies that supposedly oversees the fight against child trafficking. And that's that's sort of, oddly enough, a red flag.
00:15:59:04 - 00:16:02:01
The but in my pursuit of this.
00:16:02:01 - 00:16:06:13
Dave
Story and again, why why would I read about this? Well, I think.
00:16:06:13 - 00:16:06:28
We've talked.
00:16:06:28 - 00:16:10:27
Dave
About this maybe before, but.
00:16:10:29 - 00:16:12:00
What I've been baffled.
00:16:12:00 - 00:16:19:07
Dave
By is how there are leaders around the country and around the world who seem to.
00:16:19:07 - 00:16:19:22
Be doing.
00:16:19:22 - 00:16:38:18
Dave
Something that seems to be so anathema to what they should stand for. So let's go back to Europe. When the when the the the invasion from North Africa heard about I was about five or six years ago. Right. And all these millions of refugees came in and and where.
00:16:38:21 - 00:16:40:22
Where was by the way, I'd rather go to split.
00:16:40:22 - 00:16:42:29
Dave
Screen if I could put in my request.
00:16:43:01 - 00:16:43:29
Marty
There we go.
00:16:44:02 - 00:16:51:11
Dave
Quite graphic. There we go. I'd rather be able to see. I feel like I'm talking to myself. And.
00:16:51:13 - 00:16:54:18
And why would Angela merkel sit there and.
00:16:54:18 - 00:17:11:29
Dave
Zip it while while North Africans are flooding into our country and flooding into Sweden and flooding into everywhere except, ironically, Hungary, where Viktor Orban said, no way, we're not taking him. And then he got a lot of guff. And and so what they did, they.
00:17:11:29 - 00:17:13:00
Didn't do anything to stop.
00:17:13:00 - 00:17:14:09
Dave
It. And there's.
00:17:14:09 - 00:17:16:28
No way that they could possibly have concluded that.
00:17:16:28 - 00:17:19:06
Dave
Bringing in a bunch of North Africans into.
00:17:19:06 - 00:17:21:03
Europe was a win.
00:17:21:05 - 00:17:30:08
Dave
It's never been a win. And this isn't this isn't anti-Islam. I could go anti-Islam, but it's not it's it's.
00:17:30:10 - 00:17:32:14
Islam and Christianity are so different.
00:17:32:14 - 00:17:33:01
Dave
That that.
00:17:33:03 - 00:17:34:27
They're just two cultures that don't mix.
00:17:34:27 - 00:17:39:25
Dave
Well. Forget about who's right and who's wrong. They just don't mix well, oil and water.
00:17:39:27 - 00:17:43:27
And and so this idea.
00:17:43:29 - 00:17:47:20
Dave
That with diversity you bring strength. No, it doesn't.
00:17:47:22 - 00:17:48:23
It's a team sport.
00:17:48:23 - 00:17:54:25
Dave
You got to get along. You got to work as a team. They don't Islamic Christianity don't work together well at all.
00:17:54:27 - 00:18:01:25
And and so they let that go. And then you get the border.
00:18:01:28 - 00:18:24:00
Dave
They clearly open the border. They didn't just not take control of the border. They they opened it. They they were crystal clear about how nothing would stop these people when they came. And now they're claiming they did. But of course, they always do that. But but so, you know, hundreds of thousands a day are coming across that border.
00:18:24:02 - 00:18:35:15
Marty
Yeah. I mean, the numbers alone from last year are stunning, staggering. And if somebody lives in Texas, it's with two young children. It's extremely unnerving.
00:18:35:17 - 00:18:39:20
Well, it clicked the other day when I went to a convenience store. Some guy walked up to me.
00:18:39:20 - 00:18:40:21
Dave
And I don't know where he.
00:18:40:21 - 00:18:42:08
Was from, but he was clearly is.
00:18:42:08 - 00:18:48:18
Dave
Working with a foreign accent. Certainly could could approximate a North African. And I.
00:18:48:18 - 00:18:49:28
Was put back a little bit.
00:18:49:28 - 00:19:07:06
Dave
And he starts walking towards me if I'm watching money or something. But I imagine now and it's not hard for you imagine Hannibal you're you're now in danger. You're in serious danger. And and and so so you.
00:19:07:06 - 00:19:08:27
Know, if, for example, they dropped.
00:19:08:27 - 00:19:25:24
Dave
A handful of busloads and I think it would change I think or forever and it's a little tiny Hamlet with 40,000 people and all of a sudden if you can't go downtown, downtown dies. And then then what happens? Right. So, yeah.
00:19:25:27 - 00:19:44:25
Marty
What is the goal of all this? That's what I'm trying to think is I mean, you hear people talk about the great replacement theory. Is it just simply to create chaos and division, to confuse everybody, to come down with stricter laws in the future, to take away more civil liberties is.
00:19:44:27 - 00:19:46:24
Dave
Certainly that's part of it.
00:19:46:26 - 00:19:48:03
Marty
Is it just some substance?
00:19:48:04 - 00:19:58:17
Dave
Most of the statements are stupid. Most of the statements get more voters. I go, just read the election. I'll tell you what, we'll give it to you. But anyone you want from your party in there, just.
00:19:58:17 - 00:19:58:28
Stop.
00:19:58:28 - 00:20:01:22
Dave
Doing those right.
00:20:01:24 - 00:20:12:10
And I think the idea of bringing in immigrants for labor, maybe someone thinks they can drive down the price of labor by.
00:20:12:10 - 00:20:13:26
Dave
Bringing in laborers. But but.
00:20:13:26 - 00:20:15:18
But there's tons of.
00:20:15:18 - 00:20:18:00
Dave
Mexicans who would like to be here.
00:20:18:02 - 00:20:19:07
These are not Mexicans.
00:20:19:07 - 00:20:20:18
Dave
Coming across the border.
00:20:20:21 - 00:20:28:08
We can handle that. We get a lot of what the Mexicans say. Here's the deal. We're going to bring in a whole bunch of you guys. We'll give you a license, whatever, that the.
00:20:28:08 - 00:20:31:01
Dave
Mexicans are not the problem.
00:20:31:04 - 00:20:33:08
It's the other. And, you know, Bobby Kennedy.
00:20:33:08 - 00:20:34:06
Dave
Went down there.
00:20:34:08 - 00:20:34:27
Thinking he.
00:20:34:27 - 00:20:47:09
Dave
Supported the immigration story, spent two days and then came back and said, we got to build the fucking wall. He was totally convinced by two days at the border saying, Holy cow.
00:20:47:12 - 00:20:50:02
He said that he estimated that.
00:20:50:04 - 00:20:53:24
Dave
Maybe 2% or more Spanish speakers.
00:20:53:27 - 00:21:00:21
Marty
Yeah, and it's all military age. MAN one That China's got a lot of Chinese said some.
00:21:00:21 - 00:21:06:03
I said it brilliantly. They said they said when you run, when you run from war.
00:21:06:06 - 00:21:12:26
Dave
You bring your family. When you run to war, you don't. Yeah, they're not bringing their families.
00:21:12:29 - 00:21:36:13
Marty
No. I saw something I clip I think it was yesterday or the day before. They're completely gaming the system to like the system of coming across the border when the US government will hand you $2,000. And somebody interviewed a gentleman who had done this four times in a month, received $8,000 from the US government, from the U.S. taxpayer.
00:21:36:14 - 00:21:37:06
I hadn't even.
00:21:37:06 - 00:21:38:09
Dave
Thought of that.
00:21:38:12 - 00:21:42:22
So we got guys scrambling back across the Rio Grande. They just to come back again.
00:21:42:25 - 00:21:58:03
Marty
Yeah. Oh, it is really insane. It was. I was very happy to see that Texas set up last week and sent the Texas National Guard down there to secure the border until Department of Homeland Security to kick rocks.
00:21:58:03 - 00:22:03:16
But so there's a guy I've heard listened to.
00:22:03:16 - 00:22:12:25
Dave
And read books by border guards. I got to find one of my phone.
00:22:12:27 - 00:22:21:01
Names, J.J. Colson or something. And he he.
00:22:21:03 - 00:22:26:08
Dave
I'm like, Dude, I don't know.
00:22:26:11 - 00:22:29:24
He wrote a book about he was a border guard there for 25 years. He talks about the.
00:22:29:24 - 00:22:39:25
Dave
Border like it's just a its own world. The border is like this. This, this living organism that's just different than anything anyone can imagine.
00:22:39:27 - 00:22:42:17
But he said that they would occasionally flag a.
00:22:42:17 - 00:23:01:10
Dave
Person who's who's who's a risk, not just generically, you know, not supposed to be there, but a risk. He said we'd send those guys back, we deport them, we deal with them pretty effectively, he says. He estimates that at least 100,000 of those guys have crossed now.
00:23:01:13 - 00:23:02:15
Marty
Really?
00:23:02:17 - 00:23:15:26
Dave
Yeah. So he's he's a big believer in the sleeper cell model. Now, the problem with this book is when you read about immigration, the problem is, is that everyone who's writing about the story as a this is a catastrophe.
00:23:15:28 - 00:23:19:14
Is also rather pro-Trump, which I have no.
00:23:19:14 - 00:23:19:26
Dave
Problem.
00:23:19:26 - 00:23:20:13
With, except for the.
00:23:20:13 - 00:23:32:29
Dave
Fact that it means they're for half the country will dismiss you. What's the second you show pro-Trump? Yeah. So the trick to talk about the problem of the border without giving Trump credit for trying to stop it, even though I think that is factual.
00:23:33:01 - 00:23:41:03
Marty
A true well that going back to the Sunday morning talk show you had her I forgot. Oh yeah, that.
00:23:41:05 - 00:23:58:21
Oh, that's why I couldn't finish the story. So she said, we're going to have some black swans and that actually got legs. And it turns out this this D.O.D. case officer said she's really a good person. She's telling us.
00:23:58:21 - 00:24:06:02
Dave
Something, she knows something. And it was a little spooky. Yeah.
00:24:06:04 - 00:24:23:16
Marty
Well, that's where that's where things don't compute because you had her say that. And then you also. Christopher Wray I think in an interaction with Lindsey Graham on Capitol Hill, where Lindsey was like, how many blaring lights are you seeing out there? He's like, Christopher, is that the most lights I've ever seen going off? The alarms are are signaling.
00:24:23:16 - 00:24:42:14
Marty
And so you have two examples of people in positions of power like look over this and they're agreeing and they're essentially insinuating that there's because of the immigration and the leaky border, there's probably going to be sleeper cells doing attacks of sleeper cell models.
00:24:42:14 - 00:24:45:09
Dave
Terrifying, actually. Yeah.
00:24:45:11 - 00:24:51:00
Marty
And yet they don't do anything about it. They're they're saying this is going to happen. And then they're so.
00:24:51:00 - 00:24:55:00
This gets back to this idea. This idea. So what got me into.
00:24:55:00 - 00:24:56:15
Dave
This again, back what got me.
00:24:56:15 - 00:24:56:21
Into the.
00:24:56:21 - 00:25:06:25
Dave
Pedophilia story is I see people doing things that make no sense where I go, okay, politically, I don't agree with a bunch of people.
00:25:06:27 - 00:25:08:05
But we all seem to.
00:25:08:05 - 00:25:09:27
Dave
Have some.
00:25:09:27 - 00:25:11:02
Foundation level.
00:25:11:02 - 00:25:21:26
Dave
Belief in our system and I'm seeing important people who do not have that now. And I was looking it's like an astronomer looking off into the galaxy and saying there's there's a.
00:25:21:26 - 00:25:23:19
Force out there. We can't explain.
00:25:23:19 - 00:25:25:09
Dave
We can't the.
00:25:25:09 - 00:25:32:22
Orbits are acting funny and we got our black hole, right? So I'm look, I was looking for the black hole. I was looking for the thing that was.
00:25:32:22 - 00:25:38:08
Dave
Causing perturbations that were not explainable. And I started.
00:25:38:08 - 00:25:39:11
Glommed down to this.
00:25:39:11 - 00:25:42:11
Dave
This on the surface, Epstein, which.
00:25:42:11 - 00:25:42:20
I think.
00:25:42:20 - 00:26:12:29
Dave
Is in itself profoundly real. I mean, I think you make your career as Whitney as shown just chasing the Epstein like stuff. But I think I think it's way deeper than Epstein. I think Epstein's a highly sanitized version because Epstein's basically getting a bunch of leaders and blackmailing them and shit like that. But it's it's your sense he works for our CIA and the Mossad and stuff, and it's not positive that if you're going to get blackmailed by somebody, that those are the worst guys to be blackmailed by now, I still am not convinced.
00:26:13:06 - 00:26:29:21
Dave
I'm not convinced the CIA works for us if I think they're domiciled in the United States. The analogy is, is JPMorgan, a U.S. bank? The answer is no. It's domiciled in the United States. But but it's got branches in every country in the world. So there's no way that.
00:26:29:21 - 00:26:33:09
JPMorgan Nest fairly or even for that matter, the Federal.
00:26:33:09 - 00:26:56:11
Dave
Reserve, the Federal Reserve, will do what's right for the banks. And I think the CIA is domiciled here and gets a budget from us. I read the book Operation Gladio, and it's about the drug trade. And we all knew that the CIA had their fingers all over the drug trade. It turns out they are the drug trade. They don't just have their fingers in it.
00:26:56:13 - 00:26:56:23
Dave
So the.
00:26:56:25 - 00:26:58:09
The CIA.
00:26:58:12 - 00:27:03:29
Dave
The Vatican, who are the bankers and and organized crime, who who do the street level stuff.
00:27:03:29 - 00:27:04:23
So she handles.
00:27:04:23 - 00:27:27:26
Dave
Geopolitical Vatican handles the banking and the mafia types, make sure the drugs get into the junkies and and and and so that is the drug trade right there. So so you're going to go against those three to try to try to take over their territory now? Not a chance.
00:27:27:26 - 00:27:31:10
So so the CIA, these guys just try it.
00:27:31:13 - 00:27:32:01
Dave
You know.
00:27:32:03 - 00:27:33:25
We're looking for better revenues.
00:27:33:25 - 00:27:46:22
Dave
And so they went and they said, okay, we're going to move it into this region of society and that sort of thing. And then the question is, does the CIA work for us or are they.
00:27:46:22 - 00:27:47:26
Just an international.
00:27:47:26 - 00:27:52:19
Dave
Crime syndicate that has a line item in the budget.
00:27:52:22 - 00:27:54:14
Marty
That can't be audited?
00:27:54:17 - 00:27:57:02
Dave
They can't be audited by this money.
00:27:57:04 - 00:28:02:14
And their black budget is so much bigger than their non-black budget?
00:28:02:16 - 00:28:17:05
Marty
Yeah, I think. Tucker, he said something about this on one of his shows a couple of months ago, but when he was living in northern Virginia, his neighbors were CIA agents with multimillion dollar homes. They're supposed to be making a government salary of like $250,000 a year.
00:28:17:12 - 00:28:22:21
Dave
This is my shocked face.
00:28:22:24 - 00:28:32:18
Marty
But it's like this if they run into it. But that's where it seems like things are getting out of control. When you bring fentanyl into it, where it's like they've gotten too greedy for their own good.
00:28:32:21 - 00:28:35:01
Well, that could be the Chinese. So that could be.
00:28:35:01 - 00:28:43:08
Dave
This triumvirate I just described going against the Chinese because I think the Chinese are the source of the fentanyl. So.
00:28:43:08 - 00:28:51:10
So. So to explain all this bizarre stuff, you can sort of bring the pedophilia as the way, you know, if you're going to have someone.
00:28:51:12 - 00:28:55:27
Dave
Run the world, it's real nice to be able to tell them how to do it. Right.
00:28:55:29 - 00:29:00:23
So you're blackmailed and you say, oh, by the way. And I don't think they blackmail powerful people. I think they.
00:29:00:23 - 00:29:09:23
Dave
Actually blackmail people and then give them power. I think I think if you're not corrupted, then you don't get the job.
00:29:09:26 - 00:29:16:01
And someone else I ran into someone else who said that I go, did I channel that from them? Was that possible? Because I thought I invented.
00:29:16:01 - 00:29:26:13
Dave
That, But I don't I don't think so. And and so I.
00:29:26:15 - 00:29:35:02
I, I think that's part of the problem. I believe that to explain what we're saying, you have to believe that someone is.
00:29:35:02 - 00:29:38:21
Dave
Attempting to destroy the United States.
00:29:38:24 - 00:29:39:09
Marty
Seems like.
00:29:39:09 - 00:29:53:04
Dave
It. That's yeah and and you know Soros said I used to laugh off Soros and say, you know, every time you have something you can't explain, you blame George Soros. It's kind of stupid, you know? But but.
00:29:53:06 - 00:29:57:15
I'm beginning to sense that it's not just George Soros, but he's just probably.
00:29:57:15 - 00:30:03:07
Dave
One of many fingers in the pie. And and.
00:30:03:09 - 00:30:07:29
You know, the prosecutor who prosecuted Daniel Penny for.
00:30:07:29 - 00:30:25:07
Dave
Saving lives on the subway, killing a guy in the process, which was fine by me. I didn't care. He he saved lives. And it was the same prosecutors prosecuting Trump. Hey, if I prosecute that guy.
00:30:25:09 - 00:30:48:09
Marty
Yeah. No, I mean, we see it in Philadelphia, too. TRUMP Our economy is for as funded DEA. I think it's come down here. Texas Austin I think Garcia Soros funded. That's the other I mean, the big trend in the last few years too is just in big cities San Francisco, New York, Philly, Austin to a certain extent, a lesser extent, but an extent nonetheless.
00:30:48:15 - 00:30:54:09
Marty
It's just get these days and and don't enforce any laws. And if you.
00:30:54:09 - 00:31:07:00
Dave
Don't get into the big concepts of technocracy, if you dug into that I can't remember the author of the book. Who's the author of the book now? I can't remember the guy's name.
00:31:07:02 - 00:31:10:26
Marty
Whitney and I have talked a lot about technocracy.
00:31:10:28 - 00:31:12:14
That goes back to the thirties, right?
00:31:12:15 - 00:31:23:24
Dave
And that goes back to when when the the Trotsky ites and the capitalists were battling for how to run a technological society and and that.
00:31:24:00 - 00:31:25:12
The capitalists had just screwed the.
00:31:25:12 - 00:31:33:15
Dave
Pooch by generating a credit bubble where in the middle of the Great Depression and the Trotskyites were going to make some serious ground, right?
00:31:33:18 - 00:31:35:17
And so technocracy came up.
00:31:35:17 - 00:31:40:05
Dave
This idea that technology would help run the world.
00:31:40:07 - 00:31:41:08
The latest version.
00:31:41:08 - 00:32:00:17
Dave
Of Paris to be a borderless thing that's more about regions very hungry game sounding to me and and which by the way I think Hollywood doesn't just make up shit that kind of looks like reality. Hollywood makes up shit to make reality look like fiction.
00:32:00:19 - 00:32:14:05
Marty
Yeah. And as you're saying, this this is a I'm reminded of something I saw this morning on Disclose TV. Klaus Schwab says we risk becoming much more ego centered on a national and individual individual level and wants to break this cycle. So think.
00:32:14:06 - 00:32:31:14
Dave
Patrick. What Patrick what the goal of technocracy and then you that van der Leyen or whatever her name is that that Nazi from Germany talking about how the biggest problem is misinformation.
00:32:31:16 - 00:32:33:00
Could could they more clearly.
00:32:33:00 - 00:32:37:25
Dave
Tell you that censorship is going to become even more impressive than it is now?
00:32:37:27 - 00:32:44:09
Marty
Yeah, you see that? That's a did you see that Google warning, the AdSense warning from a couple from last week?
00:32:44:09 - 00:32:45:15
Dave
No, no. What was.
00:32:45:15 - 00:32:46:08
This?
00:32:46:10 - 00:33:08:26
Marty
So Google AdSense, which basically runs their their ad platform sent out a email to anybody connected to the ad platform last week that come February 20, 24, they're changing their policy. And the words they use in the new policy is where we're going to ground truth. Google is going to ground truth. We're going to be the purveyor of truth and.
00:33:08:29 - 00:33:10:09
Dave
Score well, and.
00:33:10:11 - 00:33:45:09
Marty
We're going to we're going to block people from serving ads or particular articles with particular sensitive words around sensitive events. Again, going back to the signaling, there's a lot of projection and I guess predictive programing in terms of these black swan events that are on the horizon, the fact that Google changed their their policy on AdSense or we'll be doing that next month, basically saying we know that there's going to be sensitive events that we're going to censor around and just preparing their ad partners for this at some point in the near future.
00:33:45:11 - 00:33:46:22
This could reach a point.
00:33:46:22 - 00:34:05:00
Dave
Where it's it's not worth the fight. So I've been humping Michael Mouse Spock on every podcast and part. I'm not doing it to help him, although I'm happy to do so. But I'm doing it because it got in my head. So did you happen to read The White Pill?
00:34:05:03 - 00:34:07:06
Marty
I'm not ready. Yeah, I've heard a lot about.
00:34:07:06 - 00:34:09:08
Dave
Really? It's a stupendous book.
00:34:09:15 - 00:34:12:05
Marty
Logan's read it. He's got his thumbs up in the background here.
00:34:12:08 - 00:34:13:19
Dave
Yeah, it's a stupendous book.
00:34:13:19 - 00:34:16:14
And Logan.
00:34:16:16 - 00:34:22:03
Dave
Put your thumb up. Not up anywhere. Just up.
00:34:22:06 - 00:34:23:07
What he does is he.
00:34:23:10 - 00:34:28:03
Dave
You know, we all know that Stalin killed millions. Well, what I didn't know.
00:34:28:03 - 00:34:31:06
Is how so Millions. I think it.
00:34:31:06 - 00:34:42:08
Dave
Was Stalin who actually said, you know, one one life's a tragedy and a million is a statistic. Is that Stalin's quote? Well, I think something bigger is a statistician of higher order.
00:34:42:10 - 00:34:44:00
But what what I didn't know.
00:34:44:00 - 00:34:52:04
Dave
Is how you how he killed millions and and and and malice. That's a stupendous job of talking.
00:34:52:04 - 00:34:53:21
About how he basically threw.
00:34:53:21 - 00:34:57:05
Dave
Cruelty and all sorts of tricks.
00:34:57:08 - 00:34:59:10
That society to completely conceal.
00:34:59:12 - 00:35:00:16
Dave
Itself.
00:35:00:18 - 00:35:09:15
Now where Stalin departs from something like Hitler and this is going to sound so odd, but Hitler makes more sense.
00:35:09:15 - 00:35:10:23
Dave
To me.
00:35:10:25 - 00:35:14:04
Because Hitler identified a group.
00:35:14:06 - 00:35:18:12
Dave
As being bad right now, I don't think.
00:35:18:12 - 00:35:18:29
Anyone in the.
00:35:18:29 - 00:35:19:26
Dave
Modern era would.
00:35:19:26 - 00:35:20:15
Agree.
00:35:20:15 - 00:35:23:07
Dave
With what he's just what he decided was rubbish.
00:35:23:10 - 00:35:29:23
But at least he identified this group and said, Here is your enemy. Here are the people who are causing a struggle.
00:35:29:25 - 00:35:32:04
Dave
And then he killed millions of.
00:35:32:06 - 00:35:59:20
There's a certain bizarro cold logic to that. Stalin just killed people. He killed major figures in Russian society, the best doctors in the country. He just he just killed people. So he was like John Wayne Gacy on on a truly Galaxie scale, who, by the way, I've been reading the John Wayne Gacy might not have just been John Wayne Gacy.
00:35:59:22 - 00:36:00:07
Marty
What do you mean?
00:36:00:13 - 00:36:08:07
That he's got connections to intelligence and I haven't been able to get a concrete.
00:36:08:07 - 00:36:10:02
Dave
Yeah, could be mkultra.
00:36:10:05 - 00:36:12:15
Marty
Mkultra gone wrong. Gone right.
00:36:12:15 - 00:36:15:21
Dave
Now. And that's, that's the problem.
00:36:15:24 - 00:36:18:00
Right. I used to think Brzezinski was MKULTRA.
00:36:18:00 - 00:36:28:27
Dave
Gone wrong and then I realized no and kosinski's mkultra gone right. They they programed him to do what he did and he did it. And it turns out.
00:36:28:27 - 00:36:31:25
I've seen a couple of quotes from Son of Sam.
00:36:31:25 - 00:36:36:11
Dave
And since it came from the internet, they must be true.
00:36:36:13 - 00:36:39:00
And he said some shit that.
00:36:39:00 - 00:36:49:07
Dave
Really suggests that he was. I'm all for two and, and it was the right time, right. He was about the right time in history and stuff like that. He was little late.
00:36:49:09 - 00:36:51:01
He was he was shooting people in 70.
00:36:51:01 - 00:36:58:02
Dave
Seven and the church commission jumped in there on 72, as I recall.
00:36:58:05 - 00:37:00:02
And the CIA claims they wrapped up MK-ULTRA.
00:37:00:02 - 00:37:35:26
Dave
And I believe that. And and so then so then on Jack Ruby, MKULTRA, Charles Manson MKULTRA, although I'm not sure Manson was an MK-ULTRA product or or simply worked with people who were involved in MK-ULTRA. So Jolly West of the MK-ULTRA kingpin, right. He's the guy whose name keeps coming up and he had strong ties with Manson. He had strong ties with Ruby.
00:37:35:26 - 00:37:46:12
Dave
He had strong ties with Timothy McVeigh. And he keeps showing up when some guy from the CIA.
00:37:46:12 - 00:37:46:21
Shouldn't.
00:37:46:21 - 00:37:51:17
Dave
Keep showing up. And so.
00:37:51:19 - 00:37:56:21
And so it's kind of can you imagine.
00:37:56:23 - 00:38:00:08
Dave
What it's like living in witness head.
00:38:00:10 - 00:38:01:16
Marty
Now?
00:38:01:18 - 00:38:09:15
I mean, she just you know, she's not married anymore. What she studies couldn't have helped.
00:38:09:18 - 00:38:10:06
Dave
Right? I mean.
00:38:10:06 - 00:38:11:03
It's such a.
00:38:11:03 - 00:38:18:22
Dave
Darkness that she that she is battling. She's down in some crevice somewhere, battling the Balrog.
00:38:18:25 - 00:38:20:12
Marty
And she handles.
00:38:20:12 - 00:38:23:13
Ros, I've been told you don't handle it well.
00:38:23:15 - 00:38:25:15
Dave
I know she handles it very well, but it's.
00:38:25:15 - 00:38:34:09
It's it's so dark. And one day, you know, it rattled me. One day she was doing a podcast with the beep, beep, beep. What's his name. Patrick.
00:38:34:09 - 00:38:36:13
Marty
But Patrick. But David or.
00:38:36:13 - 00:38:42:26
Something. PBT Yeah, she is. She was in a panel with him. They started talking about the traffic and she started crying.
00:38:42:28 - 00:38:54:13
Dave
Now, you and I both know Whitney is as tough as nails and I'm going, Holy shit, there's that. Now she she it really rattled her when they're talking about it.
00:38:54:16 - 00:39:18:18
Marty
Yeah, well, I think when you have young kids particularly, it's going to rattle you to your core. And I mean, it is dark and that's like, I mean people talk about like the Great Awakening, the great reveal, people like 2020, like you have the West class, all these evil people with their evil intentions and going out and executing on their plans that are not plans.
00:39:18:18 - 00:39:20:14
Marty
It's just everything's a coincidence.
00:39:20:16 - 00:39:21:26
Then you have the West guys.
00:39:21:26 - 00:39:32:05
Dave
We now are are totally front men. We're not going to see that what's really happening so so well, we're talking about Klaus Schwab. We're not paying attention to the guys who are really causing trouble.
00:39:32:07 - 00:39:57:28
Marty
Yeah, but then you have this whole other sect of people that are convinced that there's going to be this great reveal again, going back to the fact that it seems like they're losing control quicker than ever think I think 2023, particularly Post-vaccine and the ramifications of the COVID lockdowns materializing and inflation, I think there are more people who are like, this is beyond fucked, something's wrong, right?
00:39:58:05 - 00:40:00:25
The problem is and again, back to the white pill, the problem.
00:40:00:25 - 00:40:02:25
Dave
Is.
00:40:02:28 - 00:40:04:15
Pretty much everyone in the Soviet.
00:40:04:15 - 00:40:08:28
Dave
Union know it was fucked. It didn't stop it from being fucked.
00:40:09:00 - 00:40:17:24
Marty
Well, that's why you need somebody to write a piece like Live Not by Lies. That's. That's something I really focused on. Is like, how do we.
00:40:17:26 - 00:40:19:24
Just read that live not buy lives is.
00:40:19:24 - 00:40:47:06
Dave
Very good when you stop telling your kids the truth for fear that they will somehow blurted out and somehow either get themselves or get you sent to a gulag. But I think I went after went off the deep end a little bit a week ago, and Biden was bragging about putting guys in jail for 870 years.
00:40:47:09 - 00:40:48:18
Marty
Yeah.
00:40:48:20 - 00:41:00:04
Dave
I just lost my shit on that. I Just look at him and I go, Send that guy to hell. Right? Get out the guillotine, steal with that guy, let them eat cake that I.
00:41:00:07 - 00:41:03:02
Even if people deserve to go to jail, it's still.
00:41:03:02 - 00:41:17:22
Dave
A sad moment in U.S. history. He should not be bragging by now. I also deeply, profoundly believe that eight are 70 years of jail time is ridiculous. And I believe that the people you know.
00:41:17:24 - 00:41:24:12
Here's the thing I don't understand and I get into this night one of these days is going to get me in trouble, but I like to put it third party. Imagine you're.
00:41:24:12 - 00:41:26:22
Dave
Some dad or something.
00:41:26:24 - 00:41:28:12
And your kid gets sent to prison.
00:41:28:12 - 00:41:40:26
Dave
For five years for something that's totally innocuous. Aren't you going to get even?
00:41:40:28 - 00:41:43:26
Marty
You certainly would like to know whether or not you did.
00:41:43:26 - 00:41:51:00
Right? And so then so Well, but but it I I'm watching it. My wife is watching this TV show, Frontier.
00:41:51:00 - 00:41:58:04
Dave
It's about 1830, sort of little village on the Hudson Bay and traders and stuff.
00:41:58:04 - 00:42:28:19
And there's some guys who are just super cream dicks. I've always wondered how you can be a supreme dick in a relatively lawless place, since it's so also so easy to deal with a supreme deck. It seems to me that being a dick is a potential fatal move and it's like when I like to quote Malcolm Gladwell in one of his books, he talks about culture of honor and he talks about Hatfield and McCoys and how they were just an example of culture of honor.
00:42:28:24 - 00:42:32:00
And all down the Appalachians on the south, there's this.
00:42:32:03 - 00:42:33:16
Dave
This, you know, this fuck.
00:42:33:16 - 00:42:33:27
Me fuck.
00:42:33:27 - 00:42:36:04
Dave
You attitude. And it's very.
00:42:36:04 - 00:42:36:23
Regional.
00:42:36:23 - 00:42:43:16
Dave
It turns out I think it might be where the Irish went or something. I don't know, something like that. And.
00:42:43:18 - 00:42:48:13
And he describes a case where two guys were ripping on a guy at a gas station just ragged.
00:42:48:13 - 00:42:50:08
Dave
His ass, giving them holy hell at a gas.
00:42:50:08 - 00:43:15:16
Station, pulls out a gun and shoot them, and then he gets acquitted. And when they ask for the jurors why did you acquit him? They said, Well, they should have known better. So that's that's a supreme example of culture of honor. I would think that every time you put someone in jail in this heinous way, that you are putting yourself at risk.
00:43:15:18 - 00:43:39:07
Marty
Yeah, I mean, the whole January six insurrection coup horror story, I mean, it's it's insulting. The worst event on American soil since 911, the fact that they're they just I mean, I saw you tweeting about this, but they just announced that they're going start arresting people who were not even in the Capitol, but were outside in the crowd.
00:43:39:07 - 00:43:44:15
Marty
Riots gets off the slap on the wrist. He's not going to do it. He's got I this.
00:43:44:18 - 00:44:11:29
Dave
You know, John Sullivan, right? The black guy who filmed Ashli Babbitt supposedly getting shot, which I don't believe. And he and raps have a connection. They do they're there's Chuck there's photographs of him, the two of them communicating and and he got convicted and I've been digging and I can't find the sentencing yet.
00:44:11:29 - 00:44:14:26
He got so if you get convicted if you get convicted.
00:44:14:26 - 00:44:24:13
Dave
In November would you not yet be sentenced is at a normal clock.
00:44:24:16 - 00:44:35:20
Marty
Uh, well, I do have some context for this because SBF has obviously a big theme in the Bitcoin space. He got convicted in November. His sentencing is in March, I believe.
00:44:35:22 - 00:44:44:22
Dave
So the big case is might take a while then or something because I think in a normal case she get convicted. The judge says, oh, by the way, you're going to jail for as much time. Yeah, it'll be.
00:44:44:22 - 00:44:45:26
Interesting to what happened.
00:44:45:27 - 00:44:52:04
Dave
Is John Sullivan because if he gets off, he did go in. He did he did all sorts of shit.
00:44:52:04 - 00:44:54:12
If he gets off for less than ten years.
00:44:54:15 - 00:44:59:15
Dave
Then, you know, he's offered to. Yeah. Which I think is.
00:44:59:18 - 00:45:01:11
Marty
Well, it's all very weird.
00:45:01:12 - 00:45:05:21
Did you ever see the video, by the way, of Babbitt getting shot, The video of the terrorist?
00:45:05:21 - 00:45:08:12
Dave
Have you ever seen that one little intervention?
00:45:08:12 - 00:45:09:17
It was fucked up.
00:45:09:19 - 00:45:11:01
Marty
Oh, there's fake blood.
00:45:11:02 - 00:45:14:14
And there's a guy who put together. There's a guy who put.
00:45:14:14 - 00:45:18:00
Dave
Together all this funny video footage, said, you know.
00:45:18:07 - 00:45:20:18
And he starts throwing spaghetti at the wall and he's.
00:45:20:18 - 00:45:22:02
Dave
Laughing his ass off. Is.
00:45:22:02 - 00:45:26:03
Is Mary. Oh, look at that. Look like a clown over there. And you gave everyone.
00:45:26:03 - 00:45:28:25
Dave
Nicknames and stuff as he's going through it.
00:45:28:27 - 00:45:29:08
Marty
I didn't.
00:45:29:08 - 00:45:38:13
They're just things there's things in. So I started I tried to write about it, but I couldn't for two reasons. One is I showed the video to a bunch of.
00:45:38:13 - 00:45:45:27
Dave
Real smart guys against Silicon Valley who started more companies than we can fathom sort of thing. And my brother and various people and they.
00:45:45:27 - 00:45:54:17
Say, I see the point, but I'm not sure. And so and since I couldn't write about it because it's so.
00:45:54:17 - 00:46:00:23
Dave
Video dependent that I'd have to embed videos and stuff to say, watch this. So then I finally just.
00:46:00:27 - 00:46:01:23
Provided all the.
00:46:01:23 - 00:46:05:20
Dave
Links to all the videos and said, Go watch it for yourself.
00:46:05:22 - 00:46:22:23
But, but I was sort of also talked off it and normally that wouldn't happen, but since it wasn't easy to write either. But but you know, there was no blood splatter. The guy who smashed the window runs down the stairs, takes out his backpack, changes the shirt. He's behind the cops, you.
00:46:22:23 - 00:46:25:24
Dave
Know, doing this one of the guys who.
00:46:25:24 - 00:46:27:15
Did it turns out to be the son.
00:46:27:15 - 00:46:29:25
Dave
A Democrat, the son of a Democratic.
00:46:30:01 - 00:46:39:29
Judge. And there's just all sorts of crazy shit. And what you can see in the video, the most striking thing besides the fact that the guy points out familiarity amongst the players.
00:46:40:01 - 00:46:40:23
Dave
So so two.
00:46:40:23 - 00:46:44:16
Guys walk by each other and they'll do something that says, those guys know.
00:46:44:16 - 00:46:47:13
Dave
Each other, they know something.
00:46:47:15 - 00:46:52:25
And then you got John Sullivan. Amazing. John Sullivan is omnipresent. He is everywhere on January.
00:46:52:25 - 00:46:56:14
Dave
Six, right? He is everywhere.
00:46:56:16 - 00:47:08:14
And and I and then and then they're doing CPR. And I've asked surgeons, I said, you know, tell me if I'm wrong, but if you got a neck shot, you don't do CPR.
00:47:08:16 - 00:47:09:12
Dave
Right.
00:47:09:14 - 00:47:10:20
Which is how you get this.
00:47:10:23 - 00:47:11:10
Dave
The bloody.
00:47:11:10 - 00:47:12:03
Marty
Arrow.
00:47:12:06 - 00:47:12:16
Right?
00:47:12:16 - 00:47:17:17
Dave
Yeah, yeah, yeah. Blue Hook Pilots. Yeah. It's like a squirt gun. It's like a super soaker and.
00:47:17:17 - 00:47:22:05
That And then there's footage of them taking it out of the building. They literally drag her down the stairs.
00:47:22:05 - 00:47:25:27
Dave
By her arms and legs. They don't put her on a gurney.
00:47:25:27 - 00:47:29:14
You know, there's medical systems inside the capital because they're all a bunch of guys.
00:47:29:14 - 00:47:33:06
Dave
Trying to die for us. Not on us, for us.
00:47:33:09 - 00:47:43:28
And and they drag you down the stairs and she's still got her backpack on. I'm going. And then what happens is when you zoom in on.
00:47:43:28 - 00:47:45:28
Dave
The video and you zoom.
00:47:45:28 - 00:48:05:09
In on the chaos and and then, you know, there's guys screaming and there's there's all sorts of things happening. What the person points out is there's no attempt to provide health care. So no one's ripping apart her shirt and putting pressure on the wound or anything, nothing like that. They're just positioning or shirt. They're moving the body, they're screaming.
00:48:05:09 - 00:48:18:28
There are a lot of chaos. But no, it's actually trying to help her stage. And then it looks staged and then some guy and the guy is laughing about it. You go see that guy over there and he's trying to open up a gauze pad and he finally gets the.
00:48:18:28 - 00:48:20:16
Dave
Gossip pad open.
00:48:20:19 - 00:48:21:29
Right. And he comes.
00:48:21:29 - 00:48:23:09
Dave
Over and he wipes.
00:48:23:09 - 00:48:23:19
Off his.
00:48:23:19 - 00:48:28:28
Dave
Shirt. He wipes off her shirt. And so.
00:48:29:01 - 00:48:31:08
Then about a month and a half.
00:48:31:08 - 00:48:32:23
Dave
Ago.
00:48:32:25 - 00:48:34:15
Cheryl Sharyl Attkisson.
00:48:34:15 - 00:48:38:04
Dave
Took it on and I go.
00:48:38:05 - 00:48:58:17
Oh, now she missed some stuff, but she got a big chunk of it and she had a couple of federal cops watching the footage with her saying, You'd never let that happen. You'd never let that happen. That makes no sense. And they were going through the footage and they were shooting holes in the footage.
00:48:58:19 - 00:48:59:03
Dave
And then.
00:48:59:07 - 00:49:00:23
What they missed was, here's a neck.
00:49:00:23 - 00:49:03:03
Dave
Shot and there's.
00:49:03:05 - 00:49:04:15
The blood on the floor. It looks like a.
00:49:04:15 - 00:49:08:23
Dave
Shot glass worth. It was a tiny amount of blood.
00:49:08:25 - 00:49:22:14
So I think they staged it. I think she didn't realize she's I think she's dead, but I think she got written out of the script. I'm guessing that the thing was staged.
00:49:22:16 - 00:49:27:26
Dave
But but then someone jammed a needle in her ass on the way out the door.
00:49:27:28 - 00:49:31:06
And off she went. And you're not going to do an autopsy.
00:49:31:06 - 00:49:34:05
Dave
On her, right? Because the whole thing staged anyway.
00:49:34:07 - 00:49:41:12
Then. Then Merrick Garland. You want to piss me off watching Merrick Garland stand up in front of Congress and say that the.
00:49:41:12 - 00:49:44:22
Dave
Protesters killed five cops?
00:49:44:24 - 00:49:53:00
That is Galaxy class lying right there. That's an extraordinary. But then you say, Well, why? Well, because four cops committed suicide.
00:49:53:00 - 00:49:54:19
Dave
And then you go, okay.
00:49:54:21 - 00:49:57:27
How many cops there? 154 committed suicide.
00:49:57:27 - 00:50:00:05
Dave
I wonder. They all committed suicide.
00:50:00:08 - 00:50:03:25
They say, well, it's really stress like a cops. That was an average day for some of.
00:50:03:25 - 00:50:06:18
Dave
Those cops.
00:50:06:20 - 00:50:09:26
Right? Cops put up with a ton of shit.
00:50:09:28 - 00:50:33:10
Marty
Well, I mean, I'm picking up like all this. I went I watched this video and I agree with that. But the one thing I think people will never again it's unfathomable. People will never be like they scripted. They stayed for all this. Like, I mean, to me, maybe Ashli Babbitt dying wasn't a stage or maybe a video. Point out some inconsistencies.
00:50:33:10 - 00:50:46:09
Marty
Chaos of the day. People didn't fall back to their their procedural training that they went through. But still, the back end narrative of this being an insurrection and the worst since 911.
00:50:46:09 - 00:50:46:20
Dave
Yeah, they.
00:50:46:20 - 00:50:51:26
Forgot to bring guns. Now I heard a defense of the insurrection assignment. It was really.
00:50:51:26 - 00:50:53:00
Dave
Interesting.
00:50:53:03 - 00:50:55:22
Did did you did you watch.
00:50:55:24 - 00:51:22:25
Dave
The the debate on ZeroHedge between three annoying ish shit lefties that crash and Steam brothers and and some other guy can't remember his name. And then three others include Glenn Greenwald and Alex Jones across from it. Alex made it unwatchable. Alex could not behave himself and he ruined it. He completely and utterly ruined it. And then I saw clips from later where his chair was empty.
00:51:22:25 - 00:51:31:23
Dave
I have no idea. I got to go find out how his chair got empty. Because there must be It must be a funny moment there when his chair got empty. But.
00:51:31:23 - 00:51:40:15
But one of them said, Describe insurrection as described in the Constitution. And you could kind of.
00:51:40:15 - 00:51:50:06
Dave
Say you could make that fit. Here's the problem. Everyone on the planet uses a different definition.
00:51:50:09 - 00:51:53:07
So when they say insurrection.
00:51:53:10 - 00:52:06:11
Dave
It's like saying someone's ignorant, right? It's got a seriously negative tone when in fact you're just saying they don't know something about something. But it's more than that. It means they're shithead.
00:52:06:13 - 00:52:11:15
Marty
I thought it was because I thought Glenn made some really good points on that. In the clips that I saw.
00:52:11:17 - 00:52:19:07
Dave
It's like the to get in is battling to get in. Alex just destroyed the thing.
00:52:19:09 - 00:52:21:04
Marty
As he's known to do He's a candidate.
00:52:21:05 - 00:52:30:17
Dave
Yeah I know and the lefties were really good at it undermining him too. They really knew how to deal with him.
00:52:30:19 - 00:53:00:00
Marty
And it doesn't seem that hard. But Glenn's point being like that, the other side of the debate, the lefties couldn't believe that this is being way overblown because they don't even have the concept of the CIA and the Deep state being infinitely corrupt from the beginning. Right. But they think that these people have planned coups in other parts of the world and have used their influence and power to affect U.S. politics pretty well.
00:53:00:07 - 00:53:12:10
Dave
They are out there doing their what they're told to do. I mean, you know, they're they're their thought leaders possibly on payroll now. Right. You know, when.
00:53:12:10 - 00:53:14:13
There's some bad event, they they.
00:53:14:15 - 00:53:22:26
Dave
Parade them. Lieutenant colonels across the screen every you know, those guys are all on payroll, know whenever there's a bad event.
00:53:22:28 - 00:53:24:28
Marty
Israel, Palestine, Portugal.
00:53:25:01 - 00:53:27:06
Yea, Israel, Palestine, which I tend to stay.
00:53:27:06 - 00:53:30:19
Dave
Away from in terms of who's right, who's wrong part. But as.
00:53:30:19 - 00:53:31:04
Soon as it.
00:53:31:04 - 00:53:42:12
Dave
Happened, they paraded the lieutenant colonels across the screen over and over and over describing how Israel blew it. You know, so the narrative begins immediately.
00:53:42:15 - 00:53:56:11
Marty
Yeah. I mean, it's going back to how crazy the world is devolving if that going on. Seems like Ukraine may be coming to an end. It was funny how quickly they dropped Zelensky in Ukraine to focus on does he survive?
00:53:56:13 - 00:53:57:22
Dave
Does he survive?
00:53:57:25 - 00:54:00:09
Marty
And I don't know.
00:54:00:11 - 00:54:02:05
Dave
Since it seems unlikely. Right.
00:54:02:07 - 00:54:10:27
Marty
You see, I mean, he seems very unstable. If he was somebody who felt that they were conned and wronged just a little too much because.
00:54:11:00 - 00:54:25:03
Dave
He started starting to look a little like Hitler did towards the end of the war, where he was shaking his leg and said, You ever seen those Hitler types where he's clearly is a speedball or. Yeah. Mary Yeah, and no.
00:54:25:03 - 00:54:26:14
But there's 500,000.
00:54:26:14 - 00:54:28:27
Dave
Ukrainian mobs want to kill him, right?
00:54:28:29 - 00:54:30:11
Marty
Yeah.
00:54:30:13 - 00:54:39:11
Dave
So I got to figure and former U.S. puppets who get abandoned don't do well.
00:54:39:13 - 00:54:46:24
Marty
No. Yeah. No, I don't think that. I would not be surprised if he's not with us by the end of this decade.
00:54:46:29 - 00:54:48:18
By the way, I wrote about.
00:54:48:20 - 00:55:23:16
Dave
As you know, I wrote about Ukraine in 2022, and the title of my column was All Roads Lead to Ukraine, which part was because everything seemed to have Ukrainian tie that you're including, you know, including Victoria Freeland and and there were Ukrainians of January six. It turns out they were just everywhere that year. I basically blame the whole damn thing on Naito and I dug into what I find about 40 guys who seem to be trying to get it right, including Gonzalo Lira.
00:55:23:19 - 00:55:25:03
Marty
Rest in peace.
00:55:25:06 - 00:55:31:26
Dave
Rest in peace. I think. I think. And and and what what.
00:55:31:26 - 00:55:33:00
None of them were doing.
00:55:33:00 - 00:55:58:01
Dave
Is putting it all together. And so I, I think it's my best geopolitical writing. I think I really got to the bottom of it. My conclusion was is that that unambiguously that the war was NATO's fault. We gave Putin basically we cornered him to the point where he had no options left. And so he played his best hand.
00:55:58:04 - 00:56:16:25
Dave
I think he thought he could throw a fastball, pass the world's chin, and then we say, okay, never mind, never mind, you know, sign some peace deal. You know, you don't take over Ukraine with 50,000 troops. Right. That's that's not an insurrection either, for that matter. Right. And and.
00:56:16:25 - 00:56:19:11
Then when Naito played hardball.
00:56:19:11 - 00:56:40:11
Dave
He said, okay, so he rebuilt his army in earnest and and and and now he's turned Ukraine into a into a killing field. Yeah. And and they didn't have to die. And it's because Victoria the hot insisted they die and and and so.
00:56:40:11 - 00:56:41:13
I get I get.
00:56:41:13 - 00:56:58:15
Dave
Mad at the sanctimony industrial complex the ones who have their Ukraine flag one day and there there there Palestinian flag the next day and you know that and I got where where were you while we were doing all of this Where we killed Why weren't.
00:56:58:15 - 00:56:59:14
You speaking up when we killed.
00:56:59:14 - 00:57:10:17
Dave
4.5 million people in the Middle East over 20 years? Where were you? Where were you when the Saudis were bombing Yemenis with US based weapons where we should protest.
00:57:10:19 - 00:57:17:03
Marty
Their program, malware that's triggered by the media wasn't I wasn't triggered for those events.
00:57:17:05 - 00:57:19:03
Dave
That's right. That's right.
00:57:19:06 - 00:57:23:20
But why is why is killing 4.5 million at least.
00:57:23:24 - 00:57:27:15
Dave
Is not considered a holocaust in a war crime right.
00:57:27:18 - 00:57:33:07
Marty
Now would be in a sane society. It will be eventually, in retrospect.
00:57:33:10 - 00:57:37:01
Dave
I hope I there's right.
00:57:37:01 - 00:57:42:11
Marty
Do you have any hope? Do you have any hope that we can get out of this?
00:57:42:13 - 00:57:43:16
I think we got to go through the.
00:57:43:16 - 00:58:12:22
Dave
Valley of death to come out the other side. And and generally the trip to the Valley of Death is not a day trip, right? It's not it's not a short journey. The Great Depression was about ten years. Felt like a century. The seventies was a pretty ugly time for us, really. And, you know, for Bellbottom jeans and hum.
00:58:12:24 - 00:58:17:00
But but, but we got through it. This one, I think.
00:58:17:00 - 00:58:39:09
Dave
Will be uglier because I think we are, you know, more in debt, more unstable. We really have again, getting back to this idea that our leaders seem to have lost the sense of what we stand for. They don't They don't find take your grift. But, you know, I.
00:58:39:09 - 00:58:40:19
Think, for example, when the Italian.
00:58:40:19 - 00:58:44:17
Dave
Mob was helping us during World War Two.
00:58:44:20 - 00:58:45:04
I think the.
00:58:45:04 - 00:58:49:17
Dave
Italian mob were patriots.
00:58:49:19 - 00:58:50:06
They were rough.
00:58:50:06 - 00:59:11:06
Dave
Guys, but I think they had a fundamental belief that they were doing the right thing at that point. And I think, you know, their neighborhoods were always pretty crime free and stuff. And and and and now I just don't see it. I don't see anyone who seems to support what we used to stand for.
00:59:11:08 - 00:59:14:04
Now, Republicans are.
00:59:14:06 - 00:59:16:06
Dave
Only marginally better.
00:59:16:08 - 00:59:23:04
Marty
Now if it's all, you know, party or all mean. They're just trying to force Nikki Haley down everybody's throats.
00:59:23:06 - 00:59:33:15
Dave
Oh. Oh, God. You can feel what's happening to, you know, it's it's like some some porn flick and you're the gag.
00:59:33:18 - 00:59:51:27
Marty
Well, that I mean, maybe I'm naive, maybe I'm too optimistic. But it does again, feel like they're losing control. And then obviously, we just talked a lot about the corruption and geopolitical stuff, but then you tie in the financial side of things, I find it really hard to believe.
00:59:51:29 - 01:00:00:24
Well, but, you know, when Stalin started killing people, was he losing control? Now he's actually gaining control.
01:00:00:27 - 01:00:05:07
Marty
Yeah, But again, I think.
01:00:05:09 - 01:00:07:03
Our DNA is different. Our DNA.
01:00:07:03 - 01:00:07:18
Dave
Is different.
01:00:07:25 - 01:00:10:23
It is We have a history of not putting.
01:00:10:23 - 01:00:12:05
Dave
Up with golf.
01:00:12:08 - 01:00:22:07
But then it's going to be you know, it's going to be up to the market team or something. And it's going to be it's not just my as the pejorative term.
01:00:22:09 - 01:00:25:08
Dave
Forget again, the MAGA hat.
01:00:25:10 - 01:00:27:26
Market in 2016.
01:00:27:26 - 01:00:28:27
Dave
Election.
01:00:28:29 - 01:00:35:14
I sensed something epic was happening. I didn't think he was going to win, but I sensed there was something.
01:00:35:14 - 01:00:37:20
Dave
Changing in the country.
01:00:37:23 - 01:00:54:10
And one of things I wrote about was the fact that I said that it's it's just a flicker. But but it looks to me like the black community is moving to the right. And there's a woman down in our.
01:00:54:10 - 01:00:58:10
Dave
Cafe who I get occasional bagel prominent. I talked to her and I said.
01:00:58:12 - 01:01:02:02
Does it drive you nuts that you get told that you can't something.
01:01:02:02 - 01:01:03:12
Dave
Because you're black and you need.
01:01:03:12 - 01:01:23:27
Help? And she says, drives me completely crazy, right? So blacks can't get voter IDs, therefore we have to let them vote without voter I.D. And so it's like, what kind of idiots do you think we are? And I think that community, you know, Malcolm X many, many years ago said, look listen, what the liberals have to say, but don't give them power.
01:01:24:00 - 01:01:48:00
And he was dead, right? In fact, I have this funny, I thought one of Malcolm X's stroke of genius, whether it was planned or just his belief system, I don't know. But when he when he brought Islam into the black community. Now, I'm not a fan of Islam, but it was a distinctly non white religion that brought.
01:01:48:02 - 01:01:51:25
Dave
Order and and.
01:01:51:25 - 01:02:04:21
And and and it was an interesting idea. It was a sort of a person of color, religion. And and then, of course, they kept him. I don't know.
01:02:04:21 - 01:02:07:21
Dave
Whether that was really just sort of a gang fight or what, but.
01:02:07:24 - 01:02:08:18
You could easily.
01:02:08:18 - 01:02:16:28
Dave
Imagine it was more than we're told. And I read his biography.
01:02:17:01 - 01:02:25:09
Marty
And if you go back and listen to his speeches, it's, oh, he's brilliant. Anathema to a brilliant the left is is trying to push out right out there.
01:02:25:16 - 01:02:38:12
Dave
Right, right. And so, you know, I remember when Jimmy Brown, the running back, said, you know, Trump will be a president of the people and I'm going to. Oh, that's interesting. And then I'm watching this guy on Black Entertainment Tonight or.
01:02:38:12 - 01:02:41:28
Some bet and he's being interviewed this this black guy.
01:02:41:28 - 01:02:47:06
Dave
Who I'm looking at going, I would not want to get in the cage, fight with that guy. This is a tough looking bastard.
01:02:47:08 - 01:02:51:29
And and he keeps saying, ignore them. The messenger. Listen to his message.
01:02:52:03 - 01:02:53:25
Dave
Is talking about Trump.
01:02:53:27 - 01:03:00:00
And I get to the end of the show and I'm thinking, who the hell is this guy? And it turns out he was the new the head of the New Black Panther Party.
01:03:00:00 - 01:03:00:26
Dave
And I go.
01:03:00:28 - 01:03:10:01
The head of the New Black Panther Party supporting Trump. Holy friggin moley. And then you got carnage all of a sudden, and you say, Well, Kanye's a doofus.
01:03:10:07 - 01:03:13:14
Dave
Well, Kanye's a doofus with a lot of fans.
01:03:13:16 - 01:03:21:28
And then I think moving to the right within the black. And we not only became acceptable.
01:03:22:00 - 01:03:46:29
Dave
Which 15 years ago, you'd never say about it Republican, right? It became gangster. It became the cool kids move to the right. So Black MAGA, I rode in a cab with a guy in New Orleans. I a black guy. And and I was asked a bunch of questions. I said, Oh, I got a captive audience here. I can get some shit.
01:03:47:06 - 01:03:54:07
The guy was MAGA. It's really interesting. And I gave him a big tip and I say, Here's a big tip for either being.
01:03:54:07 - 01:03:55:29
Dave
MAGA or.
01:03:56:02 - 01:03:57:25
For being so good at lying your ass.
01:03:57:25 - 01:03:59:16
Dave
Off to be that you deserve a big tip.
01:03:59:16 - 01:04:05:17
You handle it beautifully. He read me and he played me and I said, You deserve this.
01:04:05:20 - 01:04:07:19
Dave
Well, and.
01:04:07:22 - 01:04:17:16
Marty
This begs the question like, what the hell is going to happen in November? Obviously now it seems pretty clear to Trump first by King or whoever, that he's good.
01:04:17:19 - 01:04:20:25
Dave
Yeah, I can't see a good path.
01:04:20:27 - 01:04:31:28
Marty
Because it was already pretty clear to me in 2020. Thank you. Just Joe Biden's rallies where people were standing in circles or was like maybe right.
01:04:32:01 - 01:04:36:05
Dave
Trump would fill a state with lines around the block, right?
01:04:36:08 - 01:04:47:05
Marty
Yeah. And it's is it is the power of the the white middle aged Karen that strong where they don't need to show up and they can just vote.
01:04:47:07 - 01:04:47:21
Dave
But I.
01:04:47:21 - 01:04:48:12
Think when both.
01:04:48:12 - 01:04:58:16
Dave
Parties want them out when both parties want them out, then you've got no sheriffs in town right. I mean if the.
01:04:58:16 - 01:05:00:12
Repub if he was the Republican's.
01:05:00:12 - 01:05:06:10
Dave
Guy, then the elections couldn't have been rigged. So effectively.
01:05:06:12 - 01:05:08:08
Marty
Yeah, that makes sense.
01:05:08:11 - 01:05:30:18
Dave
And so one of the theories is there could be such a landslide that they can't even rig it away. I'm rooting for that. First, I want to see him get into office. I want to see him pardon all the January six guys. There's probably a couple who deserve to stay in there a couple of years, but not many.
01:05:30:20 - 01:05:40:04
Dave
And they're all fed, so they're not even there. And so I want them to pardon all the January six guys.
01:05:40:07 - 01:05:42:19
And he also, when he first got.
01:05:42:19 - 01:06:05:19
Dave
Into power, he didn't know who he could trust. He tried to bring in Republicans. He couldn't trust them, trying to stand up, bringing his family in. And that's not a healthy cabinet means not going to stand up to him. Right. I was amazed at how how unblemished Pence came out of a four year period with Trump. And then I.
01:06:05:20 - 01:06:25:19
Dave
I only realized after the fact that he was probably being protected to be on the inside at all times. They don't want Pence having trouble. So Pence was with the other guys. He was on the other team and I don't think it was just at the last minute where he decided not to do something that could have helped Trump.
01:06:25:19 - 01:06:29:23
Dave
I think he was probably a plan.
01:06:29:25 - 01:06:33:10
Marty
That's not shocking considering the way he's talked about Trump since.
01:06:33:14 - 01:06:35:15
Dave
No, not at all. Not at all.
01:06:35:17 - 01:06:37:29
And so Trump now, though, knows who.
01:06:37:29 - 01:06:39:20
Dave
He can trust.
01:06:39:22 - 01:06:43:19
So if Trump got elected, I expect to see Michael Flynn in there.
01:06:43:19 - 01:06:50:10
Dave
I might expect to see Doug MacGregor. I wouldn't be shocked if if Bobby.
01:06:50:10 - 01:06:54:05
Kennedy got a job somewhere.
01:06:54:08 - 01:06:59:15
Dave
I'd love to see him pick someone like Bobby Kennedy as a running mate.
01:06:59:17 - 01:07:02:10
Dave
That would be a ticket. Do you think.
01:07:02:13 - 01:07:04:22
Marty
Bobby Kennedy would join up with them?
01:07:04:25 - 01:07:06:27
Dave
I think he might.
01:07:06:29 - 01:07:16:10
Bobby's not going to get to the White House. No, he might. Through Trump. He might through Trump.
01:07:16:13 - 01:07:31:02
Marty
That's what it's also, like tiresome. They're talking about this like the four year election cycle is way too quick. It's literally a two year media event leading up to the election. Then it's like even if he does get in.
01:07:31:05 - 01:07:33:20
Well, but he's going to be able to put he knows where the spoons and.
01:07:33:20 - 01:07:43:06
Dave
Forks are now. Yeah, right. And I'm torn as to whether I want to see him go Green Goblin once he gets there or not. I'm not sure what's the name.
01:07:43:06 - 01:07:44:09
Of that guy, that video.
01:07:44:09 - 01:07:46:22
Dave
Game guy, Leroy Jenkins.
01:07:46:25 - 01:07:52:01
Marty
Leroy Jenkins. The Leroy. No, Leroy. No. Leroy.
01:07:52:04 - 01:07:54:21
Dave
Yeah.
01:07:54:23 - 01:08:00:01
And he could go. Leroy And that half of my brain wants to see that. And the other half says.
01:08:00:01 - 01:08:02:18
Dave
It won't be good if it happens.
01:08:02:21 - 01:08:31:15
Marty
Well, there's any part of your brain say, all right, maybe trying to fix the systemic issues that exists in the United States is not going to happen through the White House. Like I look at what's going on here, Texas sending the state National Guard to the border to secure that lake. How how much agency do you think states need to really take control of moving forward to?
01:08:31:17 - 01:08:35:02
Marty
Like my whole view is like I think states need to lead the way.
01:08:35:04 - 01:08:37:11
So that gets to seconds. Just to an interesting.
01:08:37:11 - 01:08:51:04
Dave
Story, I'm a pro-choice guy who watched the Roe v Wade decision get overturned and even though I'm pro-choice, what I've been seeing leading up to that was that.
01:08:51:07 - 01:08:53:25
There were states that were pushing.
01:08:53:27 - 01:09:14:11
Dave
Abortion up to nine and a half months, even later. That's the fucked up part. And I'm going, no, I don't give a damn to all the mothers the mother's life is in jeopardy. I go, You should have called it earlier. You blew that one. And an.
01:09:14:13 - 01:09:16:12
Ben SHAPIRO said, I listen to Ben SHAPIRO.
01:09:16:12 - 01:09:19:00
Dave
Make the case for pro-choice, pro-life.
01:09:19:02 - 01:09:19:24
If anyone is.
01:09:19:24 - 01:09:23:05
Dave
Smart enough to convince me he is. And he didn't. He didn't convince me.
01:09:23:05 - 01:09:26:07
But he did say something profound. He said, there's only one.
01:09:26:07 - 01:09:31:20
Dave
Bright line that's conception, empathetic. It's fuzzy, and he's dead on. Correct on this. So so.
01:09:31:20 - 01:09:36:04
Then the question becomes is when does a child pick up.
01:09:36:07 - 01:09:47:21
Dave
Civil liberties, civil rights? What? Where, where in the woman? Nine and a half months there a person. It's zero months for me. They're not right. But there's.
01:09:47:23 - 01:09:50:05
I listen a guy talk about doing a 12 week.
01:09:50:05 - 01:10:01:18
Dave
Abortion which I would have thought was just a you know, vacuum cleaner sort of thing. No, no. They pull arms and legs and stuff out. Right. It's really it's really an ugly, ugly story.
01:10:01:20 - 01:10:06:04
So what I can say is, is that if if you push me to go.
01:10:06:07 - 01:10:13:23
Dave
Either nine and a half months or no abortion, I go to no abortion, they're going to force me to support the other team. If if they and.
01:10:13:23 - 01:10:15:29
The activists were pushing that for reasons.
01:10:15:29 - 01:10:18:04
Dave
That make no sense to me.
01:10:18:07 - 01:10:22:28
Just to cause trouble or something. So I think the Supreme Court might have gotten pushed into making that call.
01:10:22:29 - 01:10:23:25
Dave
Now.
01:10:23:28 - 01:10:29:11
Where I'm heading with this is there's no reason why the people of Mississippi's moral.
01:10:29:11 - 01:10:29:27
Dave
Values.
01:10:29:27 - 01:10:41:05
Should be the same as those who California. And I think if the state of Mississippi wants to say, look, we as a state do not believe in abortion.
01:10:41:07 - 01:10:43:19
Dave
That's reasonable to me.
01:10:43:21 - 01:10:47:16
And you can move. Not everyone can move, but you can move.
01:10:47:22 - 01:10:54:03
Dave
I think I think there's a downside to it. I'm still pro-choice, but I'm not going.
01:10:54:03 - 01:10:54:29
To tell people in.
01:10:54:29 - 01:11:02:05
Dave
Mississippi that they have to do exactly what the people of California want them to do. Yeah.
01:11:02:07 - 01:11:04:19
And by the way, I'm starting to understand Mississippians.
01:11:04:19 - 01:11:06:20
Dave
Better than Californians.
01:11:06:22 - 01:11:07:01
Marty
Right?
01:11:07:08 - 01:11:10:04
Right. Because the Californians want with a.
01:11:10:04 - 01:11:13:17
Dave
Brain bigger than a walnut. It moved to Texas.
01:11:13:19 - 01:11:16:02
Marty
Yeah, well, my neighbors.
01:11:16:05 - 01:11:17:25
Dave
Right, Right. That's.
01:11:18:01 - 01:11:20:22
Marty
Yeah.
01:11:20:24 - 01:11:23:26
So the state's rights model, right? Ron Paul.
01:11:23:29 - 01:11:31:04
Marty
Yeah. I mean, it makes a lot of sense. Everybody can go their separate ways, do their own thing, trade with each other.
01:11:31:07 - 01:11:39:08
So that's the opposite of the globalist view, except for we were talking about technocracy.
01:11:39:10 - 01:11:45:07
Dave
Technocracy has this idea of regions and that, that, that instead.
01:11:45:07 - 01:11:48:08
Of having countries, you just have regions which really smacks.
01:11:48:08 - 01:11:58:09
Dave
Of. That's why Soros is planting people in lower positions, because if we go to a regional model, then those people become relatively important.
01:11:58:11 - 01:11:59:19
Marty
MM.
01:11:59:22 - 01:12:00:12
Dave
And so.
01:12:00:12 - 01:12:01:25
It gets real creepy real.
01:12:01:25 - 01:12:09:03
Dave
Fast. I don't want someone in Brussels telling me I can't have a steak because I've used too much carbon that month.
01:12:09:05 - 01:12:27:25
Marty
No, this is all getting too absurd yet again. Maybe I'm naive, optimistic, but I feel like they're pushing too far. It's like that's like the whole get why I'm in bitcoin. We just need to defund these people. Take away their power the money.
01:12:27:25 - 01:12:29:16
So sorry. You supportive?
01:12:29:23 - 01:12:36:06
Dave
I. I always by mistake do huddle or podcast then and then walk into a bitcoin debate.
01:12:36:09 - 01:12:38:25
Are you supportive of the ETF? Is that a plus or.
01:12:38:25 - 01:12:46:16
Dave
Minus like a son of a bitch? I've been told by my brother it says you weigh all so much, but I can't stop wiggling.
01:12:46:18 - 01:12:57:20
Marty
I mean, it's neutral. I want to recommend that people get bitcoin exposure via the ETFs. I think it's the the least optimal way to do it. And I could see.
01:12:57:22 - 01:12:59:08
So So where's the downside?
01:12:59:11 - 01:13:04:11
Dave
A What's the what's the.
01:13:04:14 - 01:13:05:15
Forget about the downside.
01:13:05:15 - 01:13:08:15
Dave
For bitcoin. But, but is there risk of.
01:13:08:17 - 01:13:09:13
Do you think the ETFs.
01:13:09:13 - 01:13:12:22
Dave
Could end up just completely housing people.
01:13:12:25 - 01:13:18:06
Marty
Now? Do you think they'll have the Bitcoin To a certain extent. I mean, they could host people if.
01:13:18:09 - 01:13:19:12
They go that good for.
01:13:19:12 - 01:13:25:06
Dave
The sort of the the apocalyptic end game right? Then you don't want to own the ETF, right.
01:13:25:08 - 01:13:45:20
Marty
Well, doesn't mean you have to get to apocalyptic. I mean, you can I can make a very strong case that Bitcoin, the network itself, enables you to do things that you can't do via shares of an ETF like people listening to this podcast now like they're streaming us Bitcoin as you know like you're not going be able to do that with the ETF.
01:13:45:20 - 01:14:00:05
Marty
And I do think right, there's a strong case that be made that the technology side of Bitcoin, the networking side can enable these use cases that will actually force you to have direct exposure to Bitcoin to interact with these.
01:14:00:08 - 01:14:03:24
Here's the deal. See the no corners Jld It's got the.
01:14:03:24 - 01:14:12:18
Dave
Same sort of problem to me. I don't think I don't think Jld has the gold, so to speak. I think and I don't think Jld was a plus for the gold market. That's why I ask that question.
01:14:12:20 - 01:14:14:06
So I think GLD was put into.
01:14:14:06 - 01:14:24:19
Dave
Place to provide to saturate demand so that people wouldn't actually try to get the gold, they would just get JLD. Yeah, and.
01:14:24:19 - 01:14:26:06
So I view the ETF.
01:14:26:06 - 01:14:34:15
Dave
As potentially not good for Bitcoin. Not, not necessarily bad, but not good. And and and and.
01:14:34:17 - 01:14:37:21
But, but here's the deal. I'm happy to own Jld.
01:14:37:21 - 01:14:44:17
Dave
I don't own much because I bought all my gold as gold. A lot of it.
01:14:44:20 - 01:14:48:11
But by having the ETF it allows you to have.
01:14:48:11 - 01:14:50:12
Dave
Exposure to bitcoin and when you say, oh.
01:14:50:13 - 01:15:03:28
You know, it's getting kind of sketchy, I would like to have some. It allows you to basically get the protection of Bitcoin's gains and then you say, Now I'm going to switch.
01:15:03:28 - 01:15:08:00
Dave
It over to the real thing because I want to be able to do A, B, and C.
01:15:08:03 - 01:15:09:07
Marty
If I'm not sure they.
01:15:09:07 - 01:15:11:22
Switch those and no coin or I can do the ETF is.
01:15:11:22 - 01:15:13:14
Dave
Attractive.
01:15:13:16 - 01:15:20:23
Marty
But you're going to sell that share, buy bitcoin that you can't take in kind redemption is the way the the things I.
01:15:20:23 - 01:15:21:18
Dave
Know I know but.
01:15:21:25 - 01:15:27:10
But if the guys who say look, bitcoin's going to 500,000, that ETF will be a good deal.
01:15:27:18 - 01:15:46:01
Marty
Oh yeah. I mean, that's like the quote unquote positive is does make it very easy to pour a shit ton of capital into bitcoin and comparing it to gold like bitcoin. Being able to verify that the bitcoin is actually in the proverbial vault is a lot cheaper and easier. So you could.
01:15:46:03 - 01:15:46:11
Dave
Say.
01:15:46:16 - 01:15:51:26
Wow, so what will happen though is if they start doing that, the ETF is a.
01:15:51:26 - 01:15:56:02
Dave
Fractional reserve system that then hurts bitcoin.
01:15:56:04 - 01:16:02:02
Marty
I, I think it would hurt people with exposure to the ETF. Well, it hurts itself.
01:16:02:06 - 01:16:05:04
It hurts bitcoin to the extent that it it's it.
01:16:05:04 - 01:16:11:01
Dave
Pulls demand away from the actual coin. Right.
01:16:11:04 - 01:16:18:26
If I can buy GLD then you get exposure to the price of gold without actually causing a supply demand move right.
01:16:18:29 - 01:16:21:25
Dave
Yeah. I buy gold. It puts a demand.
01:16:21:25 - 01:16:23:26
On gold which pushes up the price, maybe not.
01:16:23:26 - 01:16:30:04
Dave
Much. Whereas if I buy Jld and they don't have any gold and then then they'll just.
01:16:30:04 - 01:16:38:24
Make more shares of gold, they. Right. I'll just give them some more, you know, it's like, it's like in video was talking this year about how they.
01:16:38:26 - 01:16:39:14
Dave
They were going to.
01:16:39:14 - 01:16:46:09
Offer more shares because of the eager investors I go it's a Ponzi scheme.
01:16:46:09 - 01:16:48:07
Dave
What you're doing right.
01:16:48:10 - 01:16:52:26
Marty
There. It was like 242 PE ratio right now the video.
01:16:52:26 - 01:16:58:15
Dave
I think it's even worse than that because I think those are fake numbers. I think they're at 50 times revenue.
01:16:58:17 - 01:16:59:26
Marty
Yeah.
01:16:59:29 - 01:17:01:10
Dave
50 times revenue means that.
01:17:01:10 - 01:17:02:14
They're, crudely speaking.
01:17:02:14 - 01:17:04:12
Dave
About eight fold over value.
01:17:04:15 - 01:17:36:19
Marty
Yeah. It's, I mean and indicative of, of asset bubbles. But back to my biggest worry with the ETF, particularly when you juxtapose what was going on a parallel to the uh to the approvals and launch last week was the Treasury. Elizabeth and the Treasury sent a letter to the House Services Committee and the Senate Banking Committee basically saying we don't want individuals to be able to hold their own keys, hold their bitcoin.
01:17:36:22 - 01:17:53:08
Marty
My biggest worry, I think the biggest risk and again, it's not the Bitcoin, it's the bitcoiners living in America is that now that ETFs out there, the Treasury will try to make a move that says, All right, you guys can have Bitcoin, we can only access it via the ETF. You can't hold your own wallets.
01:17:53:13 - 01:17:54:29
Dave
That's right. Go peer to peer.
01:17:54:29 - 01:17:56:14
So the way the two ways you.
01:17:56:14 - 01:18:13:05
Dave
Undermine Bitcoin is to either is to either institutionalize it to death or to try to just squash it. And the institutionalization is the one that seems like the path of least resistance.
01:18:13:12 - 01:18:36:15
Marty
Yeah, but again, go back to getting sloppy. Last week was beautiful on all accounts. I mean, you had the SEC to get their Twitter account hacked. Somebody sent out tweet that announced the approval too early that moved markets. Now it's like, all right, the FCC, the the police in this market is completely incapable of even protecting a Twitter account.
01:18:36:18 - 01:19:04:06
Marty
What right do they do? Do they have to tell us what we can and cannot invest? And then you have it launch and they give in. The industry is very apparent that like the actual facilitation of share creation and then buying Bitcoin was a complete shit show. Then you had Merrill Lynch and Vanguard not giving their clients access to these ETFs out of just subjective, so subjective view.
01:19:04:08 - 01:19:07:06
Dave
On the Shaq case, again, it's my chakras.
01:19:07:08 - 01:19:28:05
Marty
It's just highlighted across the board like that. The quote unquote smartest people in the room are dumber than ever. Like they can't even coordinate a clean launch and approval of a spot Bitcoin ETF. I don't think these people are organized on the back end as they were in the past and as many people think they are.
01:19:28:07 - 01:19:32:09
Dave
It's almost like a government program. It's almost like government program.
01:19:32:12 - 01:19:52:13
Marty
Yeah, I mean, technocracy. I mean that essentially what that is the merging of the private and private sector, public sector, the big tech firms and the government. That's what's happening in there. All it's just I think it's collapsing under the weight of everything that they've built.
01:19:52:16 - 01:19:55:00
Dave
Hmm.
01:19:55:02 - 01:19:56:01
Do you think we're heading.
01:19:56:01 - 01:20:01:07
Dave
Into a serious economic period of economic strife?
01:20:01:07 - 01:20:02:00
It sure feels.
01:20:02:00 - 01:20:13:06
Dave
Like it, but it keeps I remember in March of 2007 feeling like the market should crack and it and it was cracking, but it just took so long.
01:20:13:08 - 01:20:23:07
Marty
Well, I think we're already a prolonged period of economic strife. The question is, is that materializing financial markets, who knows?
01:20:23:09 - 01:20:28:19
Well, in some sense it has. So. So what do you think? What do you think inflation has done.
01:20:28:19 - 01:20:33:17
Dave
Over the last two years? If you had to give a two year inflation hike, what do you think it is?
01:20:33:19 - 01:20:36:26
Marty
It probably like 10 to 15%.
01:20:36:28 - 01:20:40:17
Dave
I'd say 40, but 40, Yeah.
01:20:40:19 - 01:20:42:05
The but the champion.
01:20:42:05 - 01:21:10:18
Dave
Index has it at like 18 and 13 for the two for the two year. So it's, it's around 30 by the Chaplin index. Jimmy I Oreo has a restaurant says over two years the price of his supplies is up 40 in two years and which means the markets are right now sort of cresting at all time highs they're just just starting to push could be a great double top.
01:21:10:18 - 01:21:17:07
Dave
I'm not a technical guy, but it could be a great double top. And and.
01:21:17:10 - 01:21:18:27
What it means is over the last few years.
01:21:18:27 - 01:21:22:20
Dave
You've lost 40%.
01:21:22:23 - 01:21:24:11
So so the markets in theory have.
01:21:24:11 - 01:21:30:04
Dave
Corrected 40%. You just it's just an inflation unadjusted.
01:21:30:06 - 01:21:34:26
Marty
It's just not showing up in your your brokerage account the way you did. Yeah.
01:21:34:28 - 01:21:36:28
Yeah. You feel better about it.
01:21:36:28 - 01:21:48:19
Dave
But you got you know, I paid 399 a pound precise turkey. That's that's not a normal price for sliced turkey. I went to get a roast roast one day and it was $240.
01:21:48:20 - 01:21:50:29
I think I'll pass on that.
01:21:51:01 - 01:22:05:25
Marty
Yeah. When you factor inflation, I mean, it's obvious that inflation is affecting people directly. I mean, I do well for myself, my family. I've cut back bringing coffee into the office every day. Right. It's.
01:22:05:28 - 01:22:07:28
Dave
Yeah, I.
01:22:08:00 - 01:22:08:26
I live like a.
01:22:08:26 - 01:22:22:21
Dave
Grad student in most respects. I'm, I drive a, I drive a beta of a car. I'm happy to drive a beat. It's got to work, right? If it breaks down, it sucks. But otherwise I used to wonder, I'm going, you know, you're pretty well paid.
01:22:22:21 - 01:22:26:00
You got you got the worst car in the parking lot.
01:22:26:00 - 01:22:30:08
Dave
At the grocery store. But I was kind of proud of it.
01:22:30:10 - 01:22:33:11
I can eat my my weakness.
01:22:33:11 - 01:22:48:22
Dave
Is takeout, so I'll spend, you know, 25 bucks for takeout. I never, ever, ever go to a restaurant where it's, you know, 75 bucks a hat or anything like that. I'd never do that. I would rather this is my taste.
01:22:48:24 - 01:22:52:23
If you gave me a choice of just the food. Forget about the price. The food.
01:22:52:25 - 01:23:04:03
Dave
I would rather go get a number one meal at McDonald's and French food. I like the taste of a Big Mac better than fancy schmancy shit.
01:23:04:06 - 01:23:07:04
Marty
Yeah, I like the French food. I don't either.
01:23:07:04 - 01:23:16:10
Dave
That pizza. Pizza. Right. Pizza. Barack and the Podesta brothers I a pizza together.
01:23:16:12 - 01:23:31:26
Marty
Well, that. I mean, the inflation. Inflation is one part of it. I've noticed personally, anecdotally, and I'm sure you've seen the headlines and I know a handful to a dozen people that have been laid off in the last nine months still looking for jobs.
01:23:31:26 - 01:23:42:01
Yeah. And so then the question is, how is this happening below radar? Yeah, there's there's something so odd here and you hear about the tight labor market going that's.
01:23:42:01 - 01:23:45:18
Dave
Not tightest necrotic. I mean, there's something wrong with it.
01:23:45:20 - 01:23:49:13
There's something about it that's broken, but it's not acting like.
01:23:49:16 - 01:23:53:24
Dave
Historically broken markets.
01:23:53:26 - 01:23:58:08
We have not yet seen a residential real estate collapse.
01:23:58:10 - 01:24:03:03
Dave
But it has to occur. Well, we have a cost of buying. A house has doubled.
01:24:03:05 - 01:24:09:11
Marty
Yeah, but but if you look at commercial real estate, I mean, we haven't seen the collapse, but like, look at the price.
01:24:09:12 - 01:24:12:16
Well, commercial real estate. I think that jingle mail over the next two years.
01:24:12:16 - 01:24:15:04
Dave
It's going to be spectacular.
01:24:15:07 - 01:24:23:22
Marty
Look how bad I think. How bad do you think it gets? Because it's starting like it seems like we're on the rollercoaster going over the peak right now.
01:24:23:22 - 01:24:25:04
Let's just let's just start with simple.
01:24:25:04 - 01:24:56:05
Dave
Things like malls. Malls are all dead. They're not the most expensive items, right? There's not like a $100 million office complex, but our local mall being converted into medical shit and and that's actually a bone of contention of mine. We're going to get a ton of people blathering on about how that how, you know, Farmer's going to do well as the boomers get old and all this shit.
01:24:56:07 - 01:25:01:07
The GDP, the component that that that medical care contributes.
01:25:01:11 - 01:25:23:25
Dave
GDP is just a flawed component because what medical care represents the cost of keeping a rapidly depreciating asset on the road. So it's like having it it's like having a, you know, a 1965 Corvair. It's breaking down all the goddamn time. And and you're saying, well, that's good for the economy. No, it's not. You know, your car's falling apart.
01:25:23:28 - 01:25:25:00
Dave
And so some.
01:25:25:00 - 01:25:27:01
Medical care is going. It's essentially a.
01:25:27:01 - 01:25:39:10
Dave
Tax on society. So it's, you know, going to contribute to GDP, but it shouldn't it's not product. It's not a gain. It's the cost of a depreciating asset.
01:25:39:12 - 01:25:57:00
Marty
Yeah, well that's I mean, that's where things get really daunting is when you consider all the unfunded liabilities for Social Security, Medicaid, Medicare, and then health of the country, the literal health of the people in this country. I think the costs.
01:25:57:05 - 01:26:01:17
There's another funny thing is everyone's pretty pissed off right. I mean, I would say the average.
01:26:01:17 - 01:26:04:10
Dave
Person is pissed off in a host of ways, right?
01:26:04:12 - 01:26:07:17
Yes. We if we are coming off a top.
01:26:07:19 - 01:26:20:04
Dave
A market top normally, you come off market tops like you can't really recall this, but you know, coming off, say, the 2000 top, we were euphoric as a society.
01:26:20:09 - 01:26:25:20
Brave new world Internet. You know, digital world is going to save us. Everything's wonderful.
01:26:25:23 - 01:26:26:16
Dave
Nothing but blue.
01:26:26:16 - 01:26:28:06
Skies. And also it's like, well.
01:26:28:08 - 01:26:32:13
Dave
It's not working quite right. Right. So so what what.
01:26:32:13 - 01:26:33:09
The downturns.
01:26:33:09 - 01:26:40:07
Dave
Do is kind of knock that out of you, gets it, takes away the euphoria and brings you back to earth.
01:26:40:09 - 01:26:41:24
We are coming off a top in.
01:26:41:24 - 01:26:45:02
Dave
Which everyone is pissed off.
01:26:45:04 - 01:26:47:01
Let's say you cut their.
01:26:47:04 - 01:26:47:24
Dave
Retirement.
01:26:47:24 - 01:26:49:29
Portfolios in half which I believe is.
01:26:50:06 - 01:26:55:19
Dave
Not only quite possible, we're quite rational.
01:26:55:22 - 01:26:58:05
How euphoric are they going to be?
01:26:58:07 - 01:27:10:10
Dave
And then all of a sudden, when you start looking at Biden's and all these cracks as shit in the world, they're just going to get madder and madder, okay, you destroy my life, you piece of crap, you know? So I.
01:27:10:10 - 01:27:12:29
Think I think we're heading into a dark.
01:27:12:29 - 01:27:17:01
Dave
Period. Starting out dark?
01:27:17:04 - 01:27:36:13
Marty
Yeah. That's not good. I mean, especially when you consider, like, the demographics that you have. Obviously, the boomers looking to retire or I'll start to retire, but my in-laws retired in the last two years, depending wholly on their retirement accounts now.
01:27:36:16 - 01:27:38:04
Which is scary, by the way. It's almost.
01:27:38:04 - 01:27:39:15
Dave
A phobia. It turns out.
01:27:39:22 - 01:27:42:24
You can have a ton of money and as soon as you.
01:27:42:24 - 01:27:44:28
Dave
Retire, you start shitting a pickle.
01:27:45:01 - 01:27:47:05
Marty
Yeah, well, that's the other thing, too.
01:27:47:07 - 01:27:51:19
I don't have any more revenue this it. This is all I got. If this fucks up, I'm in trouble.
01:27:51:21 - 01:27:59:25
Marty
Yeah. And then you have a subset of millennials who are looking at their parents like, Oh, you're getting close to the grave. Like, I'm going to get all that money. That's not going to happen.
01:27:59:25 - 01:28:03:27
Well, here's the interesting thing. This is and I'm not sure I've even got my brain around.
01:28:03:27 - 01:28:06:13
Dave
This correctly yet, but.
01:28:06:15 - 01:28:10:13
So so the boomers have McMansions and stocks and.
01:28:10:13 - 01:28:10:23
Dave
Stuff.
01:28:10:23 - 01:28:16:21
But but but in theory, to liquidate that, you have to sell it.
01:28:16:21 - 01:28:19:04
Dave
To somebody.
01:28:19:07 - 01:28:32:20
Who's going to buy it. So what we're saying is we're going to we're going to sell our assets to the millennials who are then going to get rich inheriting these assets, or I get in this sort of loop.
01:28:32:22 - 01:28:36:29
Marty
Well, I think the important question is who's going to buy at this price? Nobody like prices.
01:28:37:02 - 01:28:51:16
That's right. No, that's exactly right. So so if the millennials think they're going to our wealth and it will be priced the same ignores the fact that the millennials don't have any way to bid for that wealth at that price.
01:28:51:19 - 01:28:52:16
Marty
Yeah.
01:28:52:18 - 01:29:11:13
But then I go, okay, so let's pretend let's not do the trade. Let's say I take my wealth, I die. And I just it just hands over that in theory. My son did not have to buy it from me, but somehow to turn that into usable wealth, spendable wealth, you got to liquidate that. Those shares of Apple.
01:29:11:15 - 01:29:14:02
Dave
And and.
01:29:14:04 - 01:29:16:14
That the markets are so profoundly.
01:29:16:14 - 01:29:19:00
Dave
Overvalued and this is.
01:29:19:02 - 01:29:26:11
Now one in 100 analysts. They come across the TV set do a credible job of.
01:29:26:11 - 01:29:30:16
Dave
Evaluating the valuations and the market.
01:29:30:19 - 01:29:34:24
You get guys say, well, the markets are somewhat overvalued. Here I go, Yeah, 150%.
01:29:34:24 - 01:29:37:19
Dave
You fucking I'm not right.
01:29:37:25 - 01:29:40:25
And it's an easy case to make. It's not hard. You don't have to be a rocket.
01:29:40:25 - 01:29:42:05
Dave
Surgeon to make the case.
01:29:42:05 - 01:29:54:13
You just you can look at historical fair value. We are 150% above historical fair value.
01:29:54:16 - 01:29:57:01
Dave
So easy case to make.
01:29:57:03 - 01:30:05:24
Marty
How do you protect yourself? Okay, that's the question. Mean, obviously. Well, I think I think Bitcoin. You think gold. There's other things as well.
01:30:05:26 - 01:30:07:22
Well, I'm not even sure about Bitcoin or gold.
01:30:07:22 - 01:30:10:03
Dave
I don't even know when when.
01:30:10:06 - 01:30:28:10
When you have to. So if you so if you say that the world has a debt problem, let's start with that. The world has a debt problem you go all the world can have a debt problem because for every debtor there's a creditor, right? Yes. The world can have a debt problem if everyone in the world thinks they're worth a certain.
01:30:28:10 - 01:30:30:25
Dave
Amount of.
01:30:30:28 - 01:30:49:01
Goods and services and there's no way the world can provide all those goods and services, you've got a debt problem. So if the way I like to do is imagine that all of sudden, you know, the leaders of the nations of the world got together and said, okay, we're going to provide free.
01:30:49:03 - 01:30:52:01
Dave
Care for everybody.
01:30:52:04 - 01:31:17:12
Well, we don't have the resources to do that. So that promise just created a debt problem. And so we have promised people, everyone thinks they are going to go off into the sunset with a lot of money, with a lot of wealth, a lot of spend ability, a lot of consume ability. But we don't have the ability to produce that.
01:31:17:14 - 01:31:31:21
And so it's so that's the debt problem. If if if there's no one to buy our assets at these prices, then these prices can't hold up.
01:31:31:23 - 01:31:35:04
Marty
And I guess the question.
01:31:35:04 - 01:31:35:25
By the way.
01:31:35:28 - 01:31:39:22
Marty
Well, what if the Fed reverses rates and prints a bunch of money? Do you think.
01:31:39:29 - 01:31:42:28
Then it's inflationary? And so so the correction will.
01:31:42:29 - 01:31:49:28
Dave
Be the nominal dollars will be fine, but the actual the actual wealth will not have changed.
01:31:50:00 - 01:32:11:25
Yeah. The other thing people don't account for over the last hundred years and what you look at the market going up, the population has changed to and so say the markets drop this much I go well population also doubled so you can cut that return in half just let's start right there cut that return half because on a per capita basis.
01:32:11:28 - 01:32:12:20
Dave
If you grow on the.
01:32:12:20 - 01:32:17:01
Pie, if you're doubling the pie every 20 years.
01:32:17:04 - 01:32:19:01
Dave
And at the same time the population.
01:32:19:03 - 01:32:19:09
Every.
01:32:19:09 - 01:32:19:26
Dave
20 years.
01:32:19:26 - 01:32:23:24
And then you don't get any more pizza. And I keep liking the pizza.
01:32:23:24 - 01:32:30:03
Dave
Metaphor, you know, so so and I.
01:32:30:05 - 01:32:35:22
Get in. Ron GROSS The chart store actually plots the markets correct in that.
01:32:35:23 - 01:32:41:28
Dave
For normal CPI inflation, which is a total crock of shit. Thank you.
01:32:42:01 - 01:32:50:07
Michael Boskin He corrects using the M2 money supply, which strikes me as a very clean.
01:32:50:09 - 01:33:03:29
Dave
Monetarist driven inflation correction. And over the last century the S&P hasn't budged, corrected for M2. So the question is, is it quite possible.
01:33:03:29 - 01:33:06:23
That the entire capital gains of the market over the.
01:33:06:23 - 01:33:13:21
Dave
Last hundred years are zero real capital gains? And then the question is, well.
01:33:13:21 - 01:33:21:05
Then what did you get for investing in the answers? You got dividends. And then he sent me a plot of the total returns.
01:33:21:05 - 01:33:25:06
Dave
Corrected from two money supply and which includes the dividends.
01:33:25:08 - 01:33:26:26
And it turns out to be three point.
01:33:26:26 - 01:33:31:09
Dave
Seven 9% per year, over 100 years. And guess.
01:33:31:09 - 01:33:33:12
What? The dividends were about three point.
01:33:33:12 - 01:33:33:23
Dave
Seven.
01:33:33:23 - 01:33:39:15
9% per year over the last ten years. Now, here's the interesting part. The beginning of the century, they were six and a half.
01:33:39:15 - 01:33:41:20
Dave
Now they're one one and a half.
01:33:41:22 - 01:33:43:05
Marty
Yeah.
01:33:43:07 - 01:33:55:17
Dave
So that's why we're overvalued. It's yet again another example of how we're overvalued, because the thing that provides the actual return is now 1.5%.
01:33:55:19 - 01:34:02:09
Marty
This is I mean, see, the economy has been structurally broken for over a century.
01:34:02:12 - 01:34:13:22
Well, it's we've duped. It's structurally broken. No, in theory. My brother, when he was an econ major, when I was in high school, I remember he said that the economy has to keep growing.
01:34:13:22 - 01:34:15:22
Dave
To be healthy.
01:34:15:24 - 01:34:41:24
And I would say to him, okay, I don't see how that's possible. That's an exponential function. And and and I was correct about that. Say, you know, trees don't grow out of the sky sort of thing. So it just struck me as odd that you had to exponentially grow the economy for it to be healthy. Why can't we just produce the same goods every year?
01:34:41:26 - 01:34:56:17
They amount of food, same amount, let's say zero demographic change, same amount of food, same supply for everyone, just every year, just create what we need and get to the end of the year and say where we got to the end of the year. Why is that.
01:34:56:17 - 01:34:58:26
Dave
Unhealthy?
01:34:58:28 - 01:35:04:15
And the reason is because we're in an inflationary world and that represents really a shrinkage.
01:35:04:17 - 01:35:06:26
Marty
Yeah, you need more.
01:35:06:28 - 01:35:13:09
Dave
You need more because you have to catch inflation. And so.
01:35:13:11 - 01:35:26:03
And if inflation's really been running much hotter than people think because the other inflation I love to write about is the is the inflation, the deflation of the inflation hidden by.
01:35:26:05 - 01:35:32:11
Dave
The rapid depreciation. So I had a microwave go out about two weeks ago and it.
01:35:32:11 - 01:35:35:11
Lasted about three years. I think the original microwave.
01:35:35:11 - 01:35:38:22
Dave
Was original to the house from 1989.
01:35:38:24 - 01:35:41:28
So if you look at the price of that microwave in 1989 that.
01:35:41:28 - 01:35:53:18
Dave
Was bought and put in the house, and then you look at the one that I put in, I must have in four or five years ago, maybe that lasted four or five years.
01:35:53:21 - 01:35:59:28
You realize that to correct for the price of that microwave, there's a factor of five.
01:35:59:28 - 01:36:05:13
Dave
Ish that accelerated depreciation and.
01:36:05:13 - 01:36:07:05
Therefore it's the price of per use.
01:36:07:05 - 01:36:15:11
Dave
Price and that second microwave, I got I bought a blender a year ago and it's gone again. I had to buy another.
01:36:15:13 - 01:36:16:22
Marty
Yeah.
01:36:16:25 - 01:36:18:10
So that blender is not.
01:36:18:16 - 01:36:26:11
Dave
In any way comparable to the ones that lasted 40, 50, 60 years from World War Two vintage blenders. Those would go forever.
01:36:26:13 - 01:36:29:10
Marty
It's not showing up. And he don't make adjustments either.
01:36:29:13 - 01:36:34:08
Dave
No, no, they don't. Correct for the fact that you just bought a piece of shit.
01:36:34:10 - 01:36:53:22
Marty
Yeah, well, this is I mean, new term I learned last couple weeks. Champlain, we all know about Shrinkflation and, you know, raise the price, but you shrink the good and the Champlain. Yeah, and I think that's what you're describing in terms of a microwave and a blender. It's happening in food till they're not raising the price.
01:36:53:24 - 01:36:54:19
Dave
Right?
01:36:54:22 - 01:36:57:15
Marty
It's switching out the ingredients.
01:36:57:18 - 01:37:07:17
Dave
Um, you're getting right there. They're learning to use more and more of the cow, and I haven't. I haven't. I knows what we're eating.
01:37:07:19 - 01:37:35:25
Marty
That it's just like addictive powders that they put in. That's what I, I watched a podcast with. This is where things get really weird because it feels like we're stuck in this vicious cycle that we can't get out of because like all these moves, particularly inflation in food, we're switching out ingredients for shittier stuff that makes people unhealthier, like you try to dam the hole or you try to put your finger in the hole in the dam in one spot.
01:37:35:25 - 01:37:42:27
Marty
But then like boom, like by doing this, you make people unhealthier and you just skyrocket health care costs on the back end.
01:37:42:29 - 01:37:43:10
Well, the.
01:37:43:10 - 01:37:48:23
Dave
Other thing that that you know, I wrote about it this year, I decided to lay out the case as clearly as I could but.
01:37:48:23 - 01:37:50:24
That we from 1981 to.
01:37:50:24 - 01:38:28:06
Dave
The present, we had so many tailwinds that will not repeat so so recency bias. And in in the investor world and in the economic world, it's not back to 2000 to and 20/20 back to 2009, now back to 2000. It's back to 1981 from 1981. The Russians needed money. They they sold us resources for dirt. They needed desperately needed capital.
01:38:28:06 - 01:38:55:13
Dave
China came out of the dark ages and they sold us labor and slave wages. That's a huge contributor that that's over the interest rates went from 15% down to 0%. That's a huge tailwind demographically. The boomers showed up in the workforce, brought their wives with them. Huge, huge gain. And so the bottom line is we had all these tailwinds that will not repeat.
01:38:55:16 - 01:39:08:29
Dave
And so during that time, it turned out the valuations of the market, an inherently inflation adjusted phenomenon because you divide the price by something that ought to attract that price. So it shouldn't move, it can.
01:39:08:29 - 01:39:09:26
Wiggle, Bob.
01:39:09:26 - 01:39:13:20
Dave
Back and forth, get overvalued, undervalued, overvalued, undervalued. But eventually.
01:39:13:20 - 01:39:14:24
It regresses to and through the.
01:39:14:24 - 01:39:22:16
Dave
Mean and all the way back to Rome, there's kind a sort of a gravitational pull to sort of a net.
01:39:22:16 - 01:39:24:16
Gain of a few percent.
01:39:24:19 - 01:39:30:27
Dave
Above inflation. And and during.
01:39:30:27 - 01:39:31:24
That 40 year.
01:39:31:24 - 01:39:32:26
Dave
Period.
01:39:32:29 - 01:39:34:04
The valuations.
01:39:34:04 - 01:39:37:14
Dave
Of the market valuations not price compounded at.
01:39:37:14 - 01:39:38:17
3% a year for.
01:39:38:17 - 01:39:50:16
Dave
40 years. That's a tailwind. What happens in the next 40 years when the valuations drop 3% a year for 40 years.
01:39:50:18 - 01:39:56:01
And you say, Oh, that would never happen. I go, of course it will happen because there will be some point in the future where.
01:39:56:01 - 01:39:57:27
Dave
We're way undervalued because that.
01:39:57:27 - 01:40:01:04
Always happens. It might not take 40 years.
01:40:01:04 - 01:40:05:05
Dave
But there will be a time when we are way undervalued.
01:40:05:07 - 01:40:07:25
If we regress to fair value today.
01:40:07:29 - 01:40:10:03
Dave
Right? You and I woke up and we at.
01:40:10:03 - 01:40:16:11
The market, we said, holy shit, we just gave all that overvaluation back. What's overvaluation? Well, here's a great example.
01:40:16:11 - 01:40:22:06
Dave
Microsoft has had a wonderful dozen years right? That's been a good stock to own.
01:40:22:08 - 01:40:23:19
All of those gains.
01:40:23:19 - 01:40:26:13
Dave
Fivefold are valuation.
01:40:26:13 - 01:40:52:27
Expansion. So if you just get back valuation expansion, give them credit for developing and selling shit, having revenues and wealth creation, whatever, but you just contract the valuation back to where it was a dozen years ago. It's an 80% correction and it will Correct. So I'm going to stay up there. Nothing stays up there. Nothing stays aloft like that.
01:40:52:29 - 01:41:04:09
It eventually corrects and when it does, it's got to get back 80% just based on valuation and Nvidia factor of eight got to get back.
01:41:04:11 - 01:41:06:25
Dave
85 90%.
01:41:06:28 - 01:41:07:13
And it could be.
01:41:07:13 - 01:41:08:03
Dave
Worse than that.
01:41:08:09 - 01:41:09:12
Really. It could become.
01:41:09:19 - 01:41:13:24
Dave
Global Crossing something like that. It could become a bankrupt company.
01:41:13:26 - 01:41:30:09
Marty
Yeah. Do you think this could be a catalyst for shaking the American people up? Yes, it will be terrible for boomers, for the millennial children that are expecting to inherit all this wealth. But do you think this is a necessary correction or a wake up call for people to realize, like, hey, you've been living in Los?
01:41:30:14 - 01:41:34:14
Dave
So so I, I think I.
01:41:34:16 - 01:41:35:03
We haven't.
01:41:35:03 - 01:41:54:06
Dave
Had a real correction since 1967 to 81. In my opinion. My definition of a correction is, is two things. One is it sends prices earthward in a serious way. So the services on that's a 10% correction. That's not a correction. It corrected nothing. Right. So and then the.
01:41:54:06 - 01:41:55:28
Second thing is, is that you have to correct.
01:41:55:28 - 01:42:23:10
Dave
Investors attitudes. You got to get them to the point where they say, okay, I won't do that again. Right. That was stupid. And and we haven't had a serious correction since the 67 to 81 bull bear market where where at the end of that investors are saying I'm I'm never buying another equity. These things are a sack of shit and that turned out to be a great time to buy equities, great time to buy bonds to and and so.
01:42:23:13 - 01:42:25:05
I think the two components.
01:42:25:05 - 01:42:28:21
Dave
Of such a correction one is price and the other is time.
01:42:28:24 - 01:42:30:03
And if we dropped.
01:42:30:05 - 01:42:36:28
Dave
75, 75% tomorrow, the dip buyers would come in in force. Right. If you look.
01:42:36:28 - 01:42:37:26
I just saw a plot.
01:42:37:26 - 01:42:47:28
Dave
Of Tesla. I think it was the drop 75% back in 2022 and it was just a V bounce. So that.
01:42:47:28 - 01:42:48:17
40 years.
01:42:48:17 - 01:42:59:00
Dave
Was the age of imbalances. Every time there was a serious downturn, investors ran in and grabbed it and brought it right back. So the message.
01:42:59:00 - 01:42:59:25
Was clear.
01:42:59:28 - 01:43:07:26
Dave
Sell. Just hang on, you'll be fine. And then you got the indexing and stuff and says not only never.
01:43:07:26 - 01:43:09:17
Sell but buys shit without, even.
01:43:09:19 - 01:43:13:23
Dave
Understanding what you're buying because you're just buying an index. And by.
01:43:13:23 - 01:43:15:04
The way.
01:43:15:07 - 01:43:22:14
Dave
If you buy an index, you're buying the most expensive stuff in greater quantity than the least expensive stuff by a country mile. So it's like, go in the grocery.
01:43:22:14 - 01:43:31:09
Store, say, Oh, what, prime rib, just double, let's buy more prime rib. You know, that doesn't make sense. Buy Some hot dogs that day.
01:43:31:11 - 01:43:38:26
Dave
But that's not how indexing works. Indexing you will buy more prime rib because the price goes up. And so so.
01:43:38:28 - 01:43:42:19
Some point indexing was a good idea. And every idea.
01:43:42:20 - 01:43:53:23
Dave
Good idea becomes a business and ends up a racket. There's a famous quote I can't remember who gets credit for it, but the indexing has reached racket phase. And it's it.
01:43:53:28 - 01:44:14:02
There's no really good ideas. And on Wall Street that can eventually become bad ideas in the system intellectually and monetarily. Arbitrage is a way the good idea like portfolio art folio insurance was a great idea until 1987. Then I'll suddenly became a bad idea.
01:44:14:04 - 01:44:16:03
Dave
And and and.
01:44:16:03 - 01:44:16:17
So.
01:44:16:17 - 01:44:18:03
Dave
Yes, an entropic thing.
01:44:18:05 - 01:44:36:00
And so so we will I think we will go away from indexing. I think active management will come back say, Oh, wait a minute, let me see if I got this right. Buying something, having no idea why you're buying it is going to go away and buying something that you thought about why you're buying is going to come back.
01:44:36:00 - 01:44:38:11
Dave
What an odd concept.
01:44:38:13 - 01:44:43:25
And then there's this harsh reality that bugs the crap out of me. As I say, you know, the Mag seven carried.
01:44:43:25 - 01:44:46:10
Dave
The market or the Mag ten or whatever you want to call it.
01:44:46:13 - 01:44:52:27
The top stocks, ten, let's say ten of the of the 500 stocks. The S&P carried the market. I've been carrying.
01:44:52:27 - 01:44:54:27
Dave
The market for quite a while.
01:44:54:29 - 01:44:59:25
If you own 50 gas stations, 490 of more producing any profit.
01:44:59:27 - 01:45:03:18
Dave
What would you do? Sell them?
01:45:03:20 - 01:45:05:18
But somehow with the indexing, you just keep.
01:45:05:18 - 01:45:14:14
Dave
Buying more gas stations and and and the ones that are returning the profit happened to be a matter of stable profit too.
01:45:14:16 - 01:45:15:05
And videos are.
01:45:15:05 - 01:45:17:24
Dave
Great. Sure, because.
01:45:17:26 - 01:45:27:24
Hickey Fred Hickey says that in video, because of the the air craze, Fred, that video got to sell some really expensive.
01:45:27:27 - 01:45:48:09
Dave
To desperate buyers of hardware. That desperation will go away. And once it starts crashing to earth and video is going become Global Crossing, it's going to become Sun Microsystems. It's going to become it's going to be a chapter in a textbook. The picture you know, the picture the CEO looks like. HUANG Mm.
01:45:48:11 - 01:45:48:28
Marty
That's the letter.
01:45:48:28 - 01:45:51:10
G That's that's going to be the poster.
01:45:51:10 - 01:45:58:06
Dave
Child of the next downturn. Picture of Bill Huang 2.0.
01:45:58:08 - 01:46:12:22
Marty
Yeah, it's a thinking in my life. 2001 2008. Now it seems like we're approaching what may dwarf those.
01:46:12:24 - 01:46:14:23
Dave
Thousand, whatever, you know. Yeah.
01:46:14:24 - 01:46:19:07
And I listened to some economist yesterday who I think is really smart, funny. So matter of.
01:46:19:07 - 01:46:35:12
Dave
Fact, he's so matter of fact and I was telling you about a podcast I did where I got mad. It was the matter of factness of the podcaster which I say something and say, Wow, it's just this. I go, Well, we're so fucked. Yeah, you can say.
01:46:35:12 - 01:46:37:05
It's just this, but we're fucked.
01:46:37:07 - 01:46:37:18
Dave
Yeah.
01:46:37:18 - 01:46:40:17
And it was getting me.
01:46:40:17 - 01:46:45:27
Dave
Irritated and I.
01:46:45:29 - 01:46:48:28
And these are kind of, these economists say, yeah, recessions are good.
01:46:48:28 - 01:46:49:25
Dave
And so this I go.
01:46:50:03 - 01:47:01:08
This one's going to suck. It's important, it's needed, it's called for. It's time to scrub. It's trying to scrub the barnacles off the ship, but it's not going.
01:47:01:08 - 01:47:02:09
Marty
To be thoughtful.
01:47:02:12 - 01:47:09:01
Yeah, it's not going to be fun. And they say it like it's just just another day to go to work and.
01:47:09:03 - 01:47:12:25
Dave
You know, he's going to lose his job.
01:47:12:27 - 01:47:39:16
Marty
Now, The New York Times will keep paying them. Yeah, well, that being said, I mean, obviously the economy, the financial system more specifically is one aspect. I mean, obviously we're going through some sort of inflection point exactly where it ends. Who knows? But do you think other countries in the world smell the blood in the water? Obviously, we've had the BRICS plus countries really buddying up.
01:47:39:22 - 01:47:49:17
Marty
The sanctions against Russia, proved to be a pretty terrible move on behalf of the Western powers, the U.S. and the dollar like.
01:47:49:19 - 01:47:54:29
Dave
And Putin called that to you know, I did a poll one day.
01:47:54:29 - 01:48:00:24
I said, who who, who is who which leader most is doing the best.
01:48:00:24 - 01:48:12:22
Dave
For their country? And I gave the choices were Biden, Trudeau, Macron, and Putin. I think it wasn't Macron, it was someone else. And Putin won 71% of the votes.
01:48:12:25 - 01:48:14:16
Putin seems like one of the greatest.
01:48:14:16 - 01:48:17:01
Dave
Leaders in the world to me.
01:48:17:04 - 01:48:26:04
He's running a country that you have to be a complete beast to run, right? This is not a country that Justin Trudeau could.
01:48:26:04 - 01:48:28:26
Dave
Go up and run, right? Biden couldn't run it.
01:48:28:28 - 01:48:32:08
You need a strong, strong fisted bastard.
01:48:32:08 - 01:48:35:25
Dave
You need a guy who we would consider a sociopath to run Russia.
01:48:35:28 - 01:48:53:03
This is a crazy place. And I think Putin has shown a real sense of nationalism. I think he's attempting to keep Russia from going off the rails. And there's people who are listeners who are appalled by this. I know he's a psychopathic dog and he just murders people.
01:48:53:03 - 01:48:55:07
Dave
And I go.
01:48:55:09 - 01:48:59:10
No, I don't think that's true. He does. I'm sure a few.
01:48:59:10 - 01:49:04:16
Dave
Gulags have, a few guys that pissed off him. But, you know.
01:49:04:18 - 01:49:13:27
Malice is another interesting thing. So after Style dies, there's heroes in Russia that you never would have thought of. Like, for example, when Stalin died.
01:49:13:29 - 01:49:16:25
Dave
Khrushchev took over. Now, our.
01:49:16:25 - 01:49:27:12
Image, my image is a bombers. Khrushchev says leader of this evil country in my lifetime was Khrushchev. When Khrushchev took over, he he talked about.
01:49:27:12 - 01:49:36:08
Dave
All the bad things that Stalin did. And don't let that happen again. He spelled his guts out.
01:49:36:11 - 01:49:38:12
And one What a hero. Gorbachev comes.
01:49:38:12 - 01:49:40:06
Dave
Out looking like a saint you know.
01:49:40:11 - 01:49:41:05
This is a tough place to.
01:49:41:05 - 01:49:46:10
Dave
Run. Putin's doing a credible job running a very difficult place.
01:49:46:13 - 01:49:59:23
And he pointed out that if you want to have the reserve currency, stealing people's money is not a good way to do it and then to to supposedly give it to Ukraine. Right. If we take 300.
01:49:59:23 - 01:50:04:06
Dave
Billion of Russia's money, how much is going to make it to Ukraine?
01:50:04:08 - 01:50:07:19
Marty
How much of the money that we're giving to Ukraine actually makes it to Ukraine?
01:50:07:22 - 01:50:34:08
All right. Right. So it's one of the great gifts of that of the modern era. Right. And again, the podcast, I got to say, well, that's just, you know, just to clean out the old war equipment and stuff like that and to rebuild, I saw all those guys should be hung from the neck until dead. There's 500,000 dead Ukrainians because they wanted to sell more arms.
01:50:34:10 - 01:50:42:16
Why is that not a Holocaust? Why? You know, and the answer is because no one's ever going to get.
01:50:42:16 - 01:50:46:00
Dave
Charged with any of these crimes against humanity.
01:50:46:02 - 01:50:49:06
Marty
Well, Mitch McConnell let us know that that money is.
01:50:49:06 - 01:50:49:24
What is spent.
01:50:49:25 - 01:50:52:12
Marty
Over here in the United States.
01:50:52:15 - 01:50:57:02
Dave
I saw that. It was very heartwarming. Very heartwarming. The other one.
01:50:57:10 - 01:50:59:03
The chick from MSNBC who used.
01:50:59:03 - 01:51:12:12
Dave
To be on who used to be on the CNBC, said as to where this is going to build the US economy. Okay, let's go kill some more people. You know, I.
01:51:12:12 - 01:51:20:15
Was I'm a I'm a hawk in the sense I believe we need a strong I'm a dove to the extent I don't think we need to bomb the shit out.
01:51:20:15 - 01:51:22:10
Dave
Of every country in the world.
01:51:22:12 - 01:51:23:19
Marty
Yeah.
01:51:23:22 - 01:51:24:10
Dave
And I think.
01:51:24:10 - 01:51:24:27
We're bombing.
01:51:24:27 - 01:51:26:17
Dave
The shit out of every country in the world.
01:51:26:17 - 01:51:32:29
And the message is very clear. Don't piss off the United States, or we will just obliterate you.
01:51:33:01 - 01:51:36:15
Dave
Well, I mean, bad, bad karma. It's bad karma.
01:51:36:17 - 01:51:51:05
Marty
And the brazenness with which the deep state, whoever it is, particular administrations, just completely neglects the Constitution. Like the bombing of Yemen last week, an act of war without permission from Congress.
01:51:51:07 - 01:52:16:01
They don't even. But they've been doing it. They've been doing it for years. Yeah. And by the way you know, the strikes and this is amazing to me, there are strikes going on inside Russia, right? They are hitting Russian targets inside Russia. Those strikes are not being done by Ukrainians. They don't know how to do that shit. They don't know how to run that equipment.
01:52:16:03 - 01:52:32:29
Those are being done by U.S. guys, contractors, whatever. So we are bombing Russia. If this turns out badly, that's going to be an embarrassing moment. Yeah, to say the least.
01:52:33:02 - 01:52:37:23
Marty
I mean, it already is pretty embarrassing. I mean, the fact that Zelensky came. Oh, so.
01:52:37:23 - 01:52:41:21
I asked I asked the case officer. Yes. In the Zoom call.
01:52:41:24 - 01:52:43:16
Dave
Talking about.
01:52:43:18 - 01:53:06:20
Pull out of Afghanistan. I said, okay, I got to ask you this. He was in Afghanistan a lot. And he said, We spent two years winning in Afghanistan in eight years losing. And I asked him, I said, tell me yes or no when we pulled out of out of Afghanistan, it was so poorly done that that could not have been incompetence.
01:53:06:20 - 01:53:09:23
Dave
That was intentional, he said completely.
01:53:09:25 - 01:53:16:22
He said he said, we left the money, we left the Afghans, we left them everything. The idea being the country is yours. Take it.
01:53:16:22 - 01:53:18:18
Dave
Behave yourselves.
01:53:18:20 - 01:53:35:05
And when I wrote about it, I said, you know, here, here's here's the tap. The tell the tale is that we left. I remember when Jen Psaki said we got 90% of the people out who want to get out, and I'm going, you know, 90% might be a good score on a calculus test, but it's not a good score in terms of getting Americans out of.
01:53:35:05 - 01:53:38:03
Dave
A war zone and.
01:53:38:05 - 01:53:43:26
And so we left supposedly a ton of Americans. We read no.
01:53:43:26 - 01:53:46:22
Dave
Stories about Americans.
01:53:46:22 - 01:53:50:23
Dying. None. Right. I would have.
01:53:50:23 - 01:53:51:28
Dave
Noticed them.
01:53:52:00 - 01:54:10:10
Which means we said to the Taliban, we're going to leave you money. We're going to leave you guns. Do not piss off and make us come back. Leave the Americans alone. And they said, Yeah, we're good, we're good. We got the money, we got the guns. We don't need anymore. The Americans are good. They had to have made that deal.
01:54:10:12 - 01:54:26:08
And and, and and then people laugh at the Brix plus that you mention and they say, oh, you know, such and such a currency would be stronger. It's not about a currency, it's about new alliances.
01:54:26:11 - 01:54:28:14
Dave
They could come up with a new precursor if they want.
01:54:28:14 - 01:54:35:25
That's not the important part. It's about the part that they're saying we're now going to join China, Russia.
01:54:35:27 - 01:54:38:28
Dave
Not the United States.
01:54:39:01 - 01:54:41:25
That is a sea change.
01:54:41:27 - 01:54:43:27
Marty
It was Saudi Arabia in the middle.
01:54:43:29 - 01:54:56:07
And with Saudi Arabia. Right. Weren't these the guys that we bribed and bribed and bribed with all of our whatever military shit to make sure that they stayed friends with us?
01:54:56:09 - 01:55:02:19
Dave
And apparently they've now decided there's cooler kids on the block. Yeah.
01:55:02:22 - 01:55:04:18
So this is this is all.
01:55:04:18 - 01:55:10:00
Dave
Very bad for the US and it's deserving, right?
01:55:10:02 - 01:55:23:03
Marty
That's the hardest word for people to internalize. Everybody wants to play them. It is people call you unpatriotic. Putin apologists.
01:55:23:05 - 01:55:37:28
Dave
Zubayr Trotsky is calling out, calling out the mistakes we're making. Yeah, I'm not a Putin apologist, but do you do you do you agree or disagree? I don't know. We could have stopped this Ukrainian war.
01:55:38:00 - 01:55:40:16
Marty
I agree. I mean, it was blatantly clear.
01:55:40:18 - 01:55:42:03
Dave
Blatantly obvious that.
01:55:42:03 - 01:55:45:19
Marty
Boris Johnson stepped in and said, no, It was in April.
01:55:45:19 - 01:55:45:29
20.
01:55:45:29 - 01:55:57:18
Dave
22, said Zelensky. And and and yeah, but he's got a lot of bank accounts.
01:55:57:20 - 01:56:03:23
Marty
Yeah. The I mean, we're not joking about it where it's only a little light, but.
01:56:03:28 - 01:56:06:11
Dave
You have to laugh about it for knowing.
01:56:06:18 - 01:56:08:19
That when the Fed was struggling with.
01:56:08:19 - 01:56:12:14
Dave
The GFC. Right. And there were.
01:56:12:14 - 01:56:13:07
Transcripts and.
01:56:13:07 - 01:56:28:28
Dave
They were, they were cracking occasional jokes and people said ouch is awful, no humor disarms tension. Yeah, I think humor to some extent humor was aggressive, like, Oh fuck you, if I want to be aggressive, just say fuck you.
01:56:29:00 - 01:56:32:00
Humor also allows you to embed an.
01:56:32:00 - 01:56:48:17
Dave
Idea in a joke while protecting yourself from embarrassing yourself because it was a joke and you can throw out the idea as a humorous thing, but plant the seed of an idea. So in faculty meetings I occasionally joke.
01:56:48:21 - 01:56:50:29
Sometimes I have to say, you know, guys, I'm not joking.
01:56:50:29 - 01:56:55:22
Dave
Now that's a serious comment. But but good.
01:56:55:22 - 01:57:01:10
Ideas come out of jokes. There's an advertising agency that actually does that, so they bring in people from.
01:57:01:10 - 01:57:05:14
Dave
All over the company. They apparently have done some great ad campaigns.
01:57:05:16 - 01:57:07:09
They take them on a retreat for like.
01:57:07:09 - 01:57:08:22
Dave
Five or six days.
01:57:08:24 - 01:57:17:04
The first couple of days they do stupid things like things, silly string and games and things that just get you laughing and break down all the social barriers.
01:57:17:06 - 01:57:22:03
Dave
And then they start restructuring and they start making the games more constructive.
01:57:22:03 - 01:57:27:01
By the end, they're like whipping out ideas. What you've got is a bunch of people who, by.
01:57:27:01 - 01:57:42:02
Dave
Breaking down the barriers, are not afraid to come up with outside the box ideas and make Let's make a fucking movie about sharks in a tornado.
01:57:42:04 - 01:57:44:22
Marty
Or a bear on cocaine.
01:57:44:24 - 01:57:54:02
Dave
A bear. Okay. Yeah. Or whatever, You know, and I'm reading Elon Musk's I know.
01:57:54:02 - 01:57:55:06
Why people hate Musk.
01:57:55:06 - 01:58:08:22
Dave
But it it's an amazing story. It really is an amazing story. He's just he's just wired on a whole nother schematic and in and it's so it's so.
01:58:08:22 - 01:58:10:20
Different I to ask.
01:58:10:20 - 01:58:13:06
Dave
Fellow scientists I say tell me.
01:58:13:08 - 01:58:17:23
Tell me a famous scientist who most reminds you.
01:58:17:23 - 01:58:27:09
Dave
Of, you know, they're always way better, right? So if you take a famous scientist, you got well, none of the famous guys like me because I suck and they don't.
01:58:27:11 - 01:58:30:19
But they're styles and minus abs really clear.
01:58:30:19 - 01:58:34:17
Dave
It's Einstein. Because what Einstein would do.
01:58:34:19 - 01:58:36:23
Is he'd come up with this mental.
01:58:36:23 - 01:58:44:24
Dave
Construct, like, imagine a train traveling, the speed of light, and then it goes in something, you know, and, and, and then.
01:58:44:24 - 01:58:45:25
And then he would sort of.
01:58:45:25 - 01:58:46:09
Dave
Back.
01:58:46:09 - 01:58:47:14
Fit it.
01:58:47:16 - 01:58:50:11
Dave
To a more rigorous treatment once. And that's.
01:58:50:11 - 01:58:50:21
Where I.
01:58:50:21 - 01:59:02:07
Dave
Work. I work I'm totally sort of mental construct driven. Whereas Newton was just math, math, math, math, math, musk I'm not like it all.
01:59:02:09 - 01:59:03:26
He dreamed.
01:59:03:26 - 01:59:11:17
Dave
So big. He was trying to figure out how to get to the stars when he was a teenager. And it's.
01:59:11:17 - 01:59:13:04
So funny that what he used.
01:59:13:04 - 01:59:17:12
Dave
To be as a kid, like he wanted a motorbike.
01:59:17:14 - 01:59:26:14
And he'd stand there and stand there next to his dad, dad on a motorbike. And his dad said, No, I can't you one. And you just stand there.
01:59:26:16 - 01:59:28:19
Dave
You say, I want a motorbike.
01:59:28:21 - 01:59:49:04
And he would just stand there, stare at his dad, and after about five nights in a row, say, Fuck it, I'll get you a motorbike. Just get out of my face and then you get a motorbike. And and he he was doing shit as a kid. He, he got his dad to send him to a computer symposium that was not for kids.
01:59:49:07 - 02:00:13:13
And his dad going, This is a waste of money. So he went and got his own, raised the money to get a ticket to go to the symposium. It was a bunch of adult hackers and his dad goes to pick him up and he walks in there and there's Elon having a discussion with three professors of computer science, and he gets to them and they said to his dad, You got to get this kid a better computer.
02:00:13:16 - 02:00:18:21
And and so he was he was wired different than everyone.
02:00:18:23 - 02:00:20:01
Dave
And so it's it's.
02:00:20:01 - 02:00:51:04
So easy to see how he became the guy he was he became. And so the short sellers, I understand why they hate him because he destroyed them for starters, any any he kept he funded his company using dogecoin and stuff, right? I mean, he, he did some crazy shit to stay to keep them at bay. But no one no one is like him going from PayPal to making batteries to making spaceships to making.
02:00:51:07 - 02:01:01:26
But it's it's truly there's a better scientist, though the best scientists of all time. Da Vinci.
02:01:01:28 - 02:01:03:05
Marty
Da Vinci.
02:01:03:08 - 02:01:04:24
You got to read Da Vinci.
02:01:04:24 - 02:01:09:04
Dave
His biography. I mean, he was just a.
02:01:09:06 - 02:01:10:17
He was not an artist.
02:01:10:17 - 02:01:11:20
Dave
He was an inventor.
02:01:11:27 - 02:01:21:11
Marty
Yeah. He was multifaceted and great, like a a you've I mean, you wrote about this in part to be like a direct energy weapon, directed energy weapon.
02:01:21:13 - 02:01:33:02
Then he he he invented shit. He invented shit that was so far ahead of its time and he would his notebooks all survived because he was recognized.
02:01:33:02 - 02:01:36:28
Dave
To be so phenomenal that that they preserved notebooks. So like.
02:01:37:02 - 02:01:37:25
50, 60.
02:01:37:25 - 02:01:40:24
Dave
Percent of his notebooks have survived.
02:01:40:26 - 02:01:52:19
And he would study like, the physiology of horses. Let's and how the horses leapt, the muscles and stuff. And he would he'd dissect bodies in the basement. You were supposed to be doing that shit back in 13.
02:01:52:24 - 02:01:54:16
Dave
85 or whatever it was.
02:01:54:19 - 02:01:57:21
And he figured out how the heart.
02:01:57:21 - 02:02:00:23
Dave
Worked, how the valves worked.
02:02:00:25 - 02:02:03:26
Based on hydrodynamics that was shown to be true.
02:02:03:26 - 02:02:04:18
Dave
Finally, in.
02:02:04:18 - 02:02:07:29
1972.
02:02:08:02 - 02:02:08:13
Marty
That's.
02:02:08:20 - 02:02:09:15
I mean, that's.
02:02:09:16 - 02:02:11:22
Dave
That's it. That's insane.
02:02:11:24 - 02:02:35:27
And he figured out he built machines for measuring distances. He just where it was, the way it would turn around and drop a pebble. And each rotation, in the end, he'd count the pebbles. Now war machines, he designed all sorts of catapult bolts and everything. So he he was extraordinary. And the funniest part, one of the funniest parts is he's talking about Michelangelo.
02:02:36:00 - 02:02:59:09
And this turns out to be an insult. He says he paints like a sculptor. And so here's Da Vinci hammering Michelangelo. Right. And he would paint. If I was a painter, I think I would just quit because they describe how he painted. And you sit there and you go, I just can't even fathom doing it the way he did it.
02:02:59:12 - 02:03:12:28
There's just no way I'll ever attain that. And he invented perspective and he invented so much stuff. And he was just so extraordinary.
02:03:13:00 - 02:03:14:01
Dave
I don't know how I got off and.
02:03:14:07 - 02:03:15:25
I'm so someone I was so.
02:03:15:25 - 02:03:20:04
Dave
Tangential. Everything I like, it's like we love a squirrel.
02:03:20:06 - 02:03:42:06
Marty
It's called it did stoke the question there, which is like thinking creatively and to solve problems. Like in your mind, what is your out of the box solution for the terrible state of the world that we find ourselves in? Is there a creative way?
02:03:42:06 - 02:03:50:13
Well, I've I've I've tried to bring randomness into my world scientifically. Here's some things I did scientifically.
02:03:50:15 - 02:04:01:19
Dave
I work in a very complicated field. It turns out very complicated of chemistry. Some people said I'd fail, some said it's too complicated, some some thought they understood it. That's the most comical, actually.
02:04:01:21 - 02:04:02:25
Like one day in a group meeting, I.
02:04:02:25 - 02:04:18:06
Dave
Walked into a group meeting. I had a group of about 14 or so, and I said, Here's I want you to do in a month. I want you to come to a group meeting. I want you to give a ten minute book report on a self-help book of your choice.
02:04:18:09 - 02:04:23:22
Just stupid things like that. And they'd come in and someone would say, Here's how to speed up your reading and whatever.
02:04:23:26 - 02:04:27:03
Dave
Most of them blew the assignment.
02:04:27:05 - 02:04:43:02
And then I to sing where I, where I'd, I'd say, bring in to communications, which are really short, like two page papers. And I wanted to keep them short. So so communication formats, the one I said bring it to communications.
02:04:43:05 - 02:04:45:28
Dave
To group meaning next week. And.
02:04:46:00 - 02:04:49:12
And then what I did was I took one of them randomly.
02:04:49:12 - 02:04:50:18
Dave
From them.
02:04:50:21 - 02:04:53:07
And I shuffled them and handed them back to.
02:04:53:09 - 02:04:59:19
Dave
The group. And so you had one that you chose and one that someone else chose. And then the following.
02:04:59:19 - 02:05:00:21
Week their assignment.
02:05:00:21 - 02:05:02:10
Dave
Was.
02:05:02:13 - 02:05:04:20
To describe in ten or 15.
02:05:04:20 - 02:05:10:14
Dave
Minutes why these two groups should collaborate.
02:05:10:17 - 02:05:11:14
So I made them.
02:05:11:14 - 02:05:18:29
Dave
Connect the the two programs who were randomly chosen from the literature I.
02:05:18:29 - 02:05:19:13
Made them.
02:05:19:13 - 02:05:24:06
Dave
Find the connections, and then.
02:05:24:09 - 02:05:42:21
Stuff like that. I'm a big so randomness is so important to throw in to the system. When I was doing taekwondo, my first black belt test, I had figured out the challenges of the test. My first black belt test was I realized there's about 20 fundamental.
02:05:42:23 - 02:05:44:29
Dave
Kicks.
02:05:45:02 - 02:05:51:06
And and one of things that happens at the beginning is they they throw kick combinations at you.
02:05:51:06 - 02:05:52:27
Dave
Randomly and and.
02:05:53:05 - 02:05:59:23
And they go back and forth back and forth. Pretty soon you're stepping on your tongue. And so you're working on sort of autopilot At that point, you're working on.
02:05:59:23 - 02:06:03:10
Dave
Instinct mode because you're exhausted.
02:06:03:12 - 02:06:30:13
And so I made a grid and I practice every combination of kick so that there was no combination that I had not put. Yeah, I got, oh, turning, kick, reverse turning to kick that combination works smoothly crash and kick reverse turn and kick her back kick. That's a tough combination. But I couldn't be caught by surprise by two kicks being put back to back and and like that.
02:06:30:14 - 02:06:37:12
And we were supposed to learn Korean terms for each belt. I just took all the goddamn Korean terms for.
02:06:37:12 - 02:06:41:01
Dave
All the belts and learned to right up front.
02:06:41:04 - 02:06:47:18
If I took a language again If I took the language again, I sucked it. Language I hated French took me five years to get three years.
02:06:47:18 - 02:06:51:05
Dave
Of credit, and.
02:06:51:07 - 02:06:54:05
The first thing I would do is I'd go to the glossary.
02:06:54:07 - 02:07:01:12
Dave
Make flashcards of every word in the glossary, and memorize them.
02:07:01:15 - 02:07:21:29
That's a pigeon language. It's called pigeon pigeon English. People think it means shitty English. No, it actually means it's a it's a it's a language that has vocabulary, but not syntax and so and so, you know, if you're a slave, you get brought over, you don't speak any English, you learn how to say water, you'll learn how to say, ask for things.
02:07:21:29 - 02:07:23:07
But there's no syntax.
02:07:23:07 - 02:07:28:07
Dave
But it's like water, food, whatever. They get out.
02:07:28:09 - 02:07:39:05
And and the fascinating thing, I love linguistics. The fascinating thing is if you listen to a talk and black.
02:07:39:05 - 02:07:43:23
Dave
Dialect, not really just tangential or and I'm black dialect.
02:07:43:26 - 02:07:46:27
Not Ebonics shit, but if you listen to the syntax.
02:07:46:27 - 02:07:51:07
Dave
From the hood, it is most.
02:07:51:13 - 02:08:02:15
Like Irish. If someone say and this because they put the mics and the blacks together to do shit and the mics taught the blacks how to speak English.
02:08:02:22 - 02:08:13:25
Marty
You know, the Scots Irish down in Mississippi. And yes, it's actually where my lineage comes from. My my grandmother was born in Mississippi, then moved to Philadelphia.
02:08:13:27 - 02:08:15:20
Dave
Yeah, right.
02:08:15:22 - 02:08:21:25
By the way, I highly recommend any book by John McWhorter.
02:08:21:28 - 02:08:33:17
Dave
And and and he's one of the great conservative black linguists and has it.
02:08:33:20 - 02:08:49:28
And it's you have to do audio. You read about you read about linguistics. Forget it. That's stupid. You do audio and you've got great, brilliant audio books on the structure of language and how it changes, how it evolves. It's a fabulously interesting topic. Then one day one of my colleagues, a son, is a.
02:08:49:28 - 02:08:55:02
Dave
Linguist, is on the spectrum, wants to be a linguist.
02:08:55:04 - 02:09:16:29
And I said to my said, Would you drive to New York City if your son could meet John McWhorter? He said, Yeah. I said, I think I can help you with that. He goes, What? Yeah, Yeah, I know. John says, You know, John McWhorter. Hello? Yeah, I've been in a few email exchanges with him. Yeah. And so I emailed John and said, Would you, you know, meet up with this kid?
02:09:17:01 - 02:09:20:23
And the other thing I used to do as a chemist.
02:09:20:29 - 02:09:22:21
Dave
You know, no one does this anymore.
02:09:22:25 - 02:09:47:19
I there's the Journal of the American Chemical Society. And to be broadly based for about a five year period, I read every introduction to every paper. That's where you say this is what's important is what sat down. This what we're going to do, this is what we've done in the past is where we're going in the future. That's what the introduction says.
02:09:47:22 - 02:10:04:07
I read every, you know, biophysics, chemical biology, you name it, you know, quantum mechanics, you name it. I read every paper, every fold paper introduction. So that just it just read myself as far as you can possibly spread yourself.
02:10:04:09 - 02:10:07:29
Marty
And I hope of being able to connect dots or yeah.
02:10:08:01 - 02:10:17:05
With, with the hopes of seeing connections that I otherwise wouldn't see being, being aware of what's out there. And then I ran out of time.
02:10:17:05 - 02:10:24:12
Dave
You know, the group got bigger and I got married and things like that. And then I just didn't have the time to do such frivolous things. But I was a.
02:10:24:12 - 02:10:25:23
Voracious consumer.
02:10:25:23 - 02:10:28:20
Dave
Of the literature.
02:10:28:22 - 02:10:32:12
Marty
Hmm. So injecting more randomness.
02:10:32:14 - 02:10:36:19
Injecting randomness. Yeah. Give, give chance an opportunity to.
02:10:36:19 - 02:10:38:11
Dave
Rear its head.
02:10:38:14 - 02:10:50:23
Because you will you will construct a narrative. You will construct the path that's that's biased. So you need some opportunity to to just break chance connections.
02:10:50:25 - 02:10:51:13
Dave
Yeah.
02:10:51:15 - 02:10:53:10
And then, and then you have to have the brains.
02:10:53:10 - 02:10:58:13
Dave
To spot the connection. Yeah. And, and.
02:10:58:16 - 02:11:02:08
And people often ask, you know, chemistry.
02:11:02:11 - 02:11:04:23
Dave
Economics, which is the two connections. I was.
02:11:04:27 - 02:11:05:20
Saying, now the.
02:11:05:20 - 02:11:09:10
Dave
Geopolitics comes in.
02:11:09:12 - 02:11:10:23
How do they interact with each.
02:11:10:23 - 02:11:11:00
Dave
Other.
02:11:11:00 - 02:11:15:03
And one thing that I learned in chemistry is in the field.
02:11:15:03 - 02:11:17:08
Dave
I was in is that no one. Got anything.
02:11:17:08 - 02:11:21:13
Correct? They were trying so hard to get it right. It's just a hard.
02:11:21:13 - 02:11:24:20
Dave
Field made in have the tools and almost.
02:11:24:20 - 02:11:27:05
Every paper we've ever published has shown someone.
02:11:27:05 - 02:11:28:16
Dave
Was fucked up.
02:11:28:18 - 02:11:32:14
And in some cases is spectacular. Some cases it's Nobel Prize winning work where you go.
02:11:32:14 - 02:11:34:00
Dave
It's not right.
02:11:34:02 - 02:11:46:18
And and and when I got to economics, it gave me one thing, one skill that very few people have, and that is I can look at ten central bankers.
02:11:46:18 - 02:11:50:09
Dave
Who all agree and I can say, I think you're all wrong.
02:11:50:12 - 02:12:08:01
There's very few people who can who can who can look into the eye of credential experts and say, I think you're full of shit. Yeah, that takes that takes a special kind of chutzpah. And I don't have the chutzpah, but I just have so much experience and finding that people are.
02:12:08:01 - 02:12:08:27
Dave
Wrong.
02:12:09:00 - 02:12:32:08
And. And and this idea that something because it's logical is right, is absurd. There's all sorts of things. There's there was an example of something that everyone in the world seems to agree it wasn't. I'm looking, I'm going, this is just wrong. And it wasn't even in my field. It was a very physical field. I said, this is just wrong.
02:12:32:11 - 02:12:50:08
And so I asked and I figured out how stupidly wrong it was, and I asked about 200 chemists coding a number of Nobel Prize winners. And I say, Why is this occur? And they give me the answer. I said, No, it's the opposite of that. And I show them why and not a single one could refute my theory.
02:12:50:11 - 02:13:18:20
And it was just from seeing a connection that everyone else had just accepted. It sounded. So logical. And when I just sort of flipped upside down and said, Look at it this way you go now, it doesn't make sense at all. And and I still liked it. I still do everything. Now I'm at what's called a Canada sis where you plot concentrations of things versus time.
02:13:18:23 - 02:13:21:01
Dave
It's just that simple.
02:13:21:03 - 02:13:31:01
And I read plots. I don't do math. I watch the curves. I go, okay, that's telling me that curve was telling me something.
02:13:31:03 - 02:13:35:10
Marty
You had one of these narratives in the year in review, right?
02:13:35:13 - 02:13:38:24
One year I talked about a couple of chemical examples of.
02:13:38:24 - 02:13:42:18
Dave
Something I think that was last year. You I think the 2023 20.
02:13:42:22 - 02:13:52:11
Marty
To think in part one. Yeah. This chart of like the narratives over time and like how they were pronounced at certain points of time and it was correcting maybe I read that somewhere else.
02:13:52:14 - 02:13:53:25
Dave
I don't know.
02:13:53:27 - 02:13:58:29
But, but it's really helpful to not believe.
02:13:58:29 - 02:14:00:14
Dave
Experts.
02:14:00:16 - 02:14:11:06
To not. And then, and then you got the douchebags who quote Occam's Razor incorrectly. So I can by the way, there's about four ways to spell them.
02:14:11:06 - 02:14:12:01
Dave
Let's start with that.
02:14:12:01 - 02:14:18:21
But Occam's razor is often cited as the simplest explanation is.
02:14:18:21 - 02:14:21:00
Dave
Most often correct.
02:14:21:02 - 02:14:23:04
And if that was really Occam's Razor.
02:14:23:06 - 02:14:26:24
Dave
I would be considered hundred percent full of shit.
02:14:26:26 - 02:14:32:24
100%. The simplest explanation is never correct.
02:14:32:26 - 02:14:34:16
Dave
It's almost never correct.
02:14:34:18 - 02:14:37:09
When you dig below the surface, you find complexity.
02:14:37:09 - 02:14:39:21
Dave
Every single time.
02:14:39:23 - 02:14:55:13
What I said is you can't go complicated without more data. You have to go with the simplest explanation consistent with the data. But he didn't say, you can't. You can't think about what else it could be, but you can't invoke that.
02:14:55:16 - 02:14:57:26
Dave
That serves no purpose.
02:14:57:29 - 02:15:00:18
In the model. So you can't just start adding shit that.
02:15:00:18 - 02:15:03:15
Dave
Doesn't do anything for your prior explanation.
02:15:03:18 - 02:15:08:25
But everything we've ever studied, anything I've ever said, whether it's economics or whatever.
02:15:08:27 - 02:15:10:06
Dave
Occam's Razor.
02:15:10:08 - 02:15:13:21
If it was the simplest models, most correct.
02:15:13:24 - 02:15:15:14
Dave
It would be wrong. Every time.
02:15:15:16 - 02:15:20:21
Marty
Every time it's the base from which to build right complex.
02:15:20:23 - 02:15:39:14
So you start out with a couple of data points. You come up with a simple hypothesis, not a complex one, the simple one, and then you collect some more data. You go, Oh, it just got more complicated. And now it reminds me, here's a great example of economists blowing it badly. You might not remember this, but I'm sure you've read it that when stagflation showed up, the economists were all shocked.
02:15:39:14 - 02:16:04:10
They didn't think stagflation was possible. I'm sitting here thinking about I'm going, okay, let me see if I got this right, because we have inflation. Your money can only buy half of what it used to buy. How is that not a stagnating economy? How could that not be a stagnation? So why were the economists so surprised?
02:16:04:12 - 02:16:09:09
Marty
If you only buy half of what you need, the producers will go out and produce more. They neglect, right?
02:16:09:09 - 02:16:23:25
The producers cost stagflation and inflation is inherently stagnating. You want to promote the economy, don't have inflation.
02:16:23:27 - 02:16:27:24
Marty
No. Deflation is the boogeyman. The modern day.
02:16:27:24 - 02:16:32:28
Keynes. It's the boogeyman for several reasons, one of which is it's not taxable.
02:16:33:01 - 02:16:33:15
Dave
You know.
02:16:33:18 - 02:16:45:19
If, if, if, if, if we have deflation year after year after year, then then there's no capital gains to tax. Right. They can't keep ramping up the tax bill.
02:16:45:21 - 02:16:46:19
Dave
And so.
02:16:46:21 - 02:16:48:21
So so inflation gives them.
02:16:48:21 - 02:16:50:15
Dave
Something to tax.
02:16:50:17 - 02:17:07:13
Marty
Yeah, Yeah, that's correct. I mean, this is like a perfect example of one problem where people think they've solved it, monetary economics. And you just point the opposite, like, now what if we went the other way and actually tried to induce deflation via sound money?
02:17:07:16 - 02:17:10:08
Dave
I love deflation. I would like I'm.
02:17:10:08 - 02:17:23:23
Hoping for deflation. When I was a kid, my dad, we used to have these conversations, really get my dad on the construction company. And so I set the dinner table or something and well, I think everyone should be paid the same amount. He would explain.
02:17:23:23 - 02:17:27:29
Dave
To me why. That's a stupid idea, right? It was quite straightforward.
02:17:27:29 - 02:17:52:20
I go, Oh, okay. I thought of it that way. So we had great, great, great conversations, which he straightened out. The party had a thinking of an eight year old and, and, and, and so that that helped me a lot. And then and there's people who've argued with me on this. But one day I was thinking about the Roth IRA.
02:17:52:22 - 02:17:53:12
This goes way.
02:17:53:12 - 02:17:55:19
Dave
Back, actually.
02:17:55:21 - 02:18:05:25
And I realized the IRA has got a mathematical floor that's a big gaping hole. It turns out that if you.
02:18:05:27 - 02:18:26:08
Dave
Take thousand dollars, track $1,000, let's say the tax rates, 20% in a in a regular IRA, you put your thousand dollars in an account, doesn't get taxed. Let's say it goes up tenfold over time. It's now it's now $10,000.
02:18:26:11 - 02:18:30:02
You take out the tax when you pull it out at the end, you've.
02:18:30:02 - 02:18:31:06
Dave
Got $8,000.
02:18:31:06 - 02:18:33:23
So you made $8,000 from $1,000, right?
02:18:33:23 - 02:18:36:05
Dave
You made 7000 from 1000.
02:18:36:07 - 02:18:41:24
You have 8000 at the end. Use the Roth IRA. If you take out 20% upfront.
02:18:41:26 - 02:18:45:07
Dave
You've now got instead of 1800.
02:18:45:07 - 02:18:52:22
Goes up ten fold. At the end is tax free. You've got $8,000. It's the same. So there's no mystical tax free compounding.
02:18:52:25 - 02:18:54:27
Dave
It's fourth grade math.
02:18:54:29 - 02:18:56:23
If you get taxed 20% in the front.
02:18:56:23 - 02:18:59:18
Dave
End or 20% in the back end, it's the.
02:18:59:18 - 02:19:01:26
Same. A lot of people don't notice this.
02:19:01:28 - 02:19:02:17
Dave
Now, here's where.
02:19:02:17 - 02:19:07:05
It gets interesting. The regular IRA, which was a very far sighted.
02:19:07:05 - 02:19:08:10
Dave
Concept, the government.
02:19:08:10 - 02:19:16:22
Basically said, look, we will forfeit our vig and we'll get it.
02:19:16:25 - 02:19:18:05
Dave
Years from now.
02:19:18:08 - 02:19:37:03
What government does that that's an extraordinary thing to say. We will forfeit the revenue. Now. We'll get it later. What an amazingly generous way to go in my life. In a regular IRA. Let's say you make 150,000, which turned out.
02:19:37:07 - 02:19:41:22
Dave
At the time that I figured this out was a five percentile income.
02:19:41:24 - 02:19:45:18
In the regular IRA. You take.
02:19:45:20 - 02:19:50:00
Dave
Say, $1,000 off the top and you put.
02:19:50:00 - 02:19:50:26
It in IRA.
02:19:50:29 - 02:19:58:14
Dave
You don't have to pay taxes on that goes in the IRA compound. You pay taxes at the end.
02:19:58:17 - 02:20:02:02
The Roth IRA, you take that thousand dollars off the top and you pay taxes.
02:20:02:03 - 02:20:06:10
Dave
Now, here's the deal.
02:20:06:12 - 02:20:15:25
That thousand dollars in the Roth IRA is in the top tax bracket, 37%, something like that. You voluntarily pay 37.
02:20:15:25 - 02:20:18:00
Dave
Percent taxes.
02:20:18:02 - 02:20:35:10
To get it into the shelter. The regular IRA, when you take it out at the end, it comes out over all the brackets. So instead of coming out at the marginal rate of 37%, it comes out first at zero and then a ten and then blah, blah, blah. And then the effective tax.
02:20:35:10 - 02:20:36:22
Dave
Rate.
02:20:36:24 - 02:20:51:20
Turns out to be integration over the whole bracket. And so usually the effective rate first the marginal about 10% lower. So the regular Roth IRA, by definition, 98% of the.
02:20:51:20 - 02:20:55:03
Dave
Time it will be at a lower tax rate.
02:20:55:06 - 02:21:01:18
Now you say, well, what if taxes go way up? I go, but that's an unknowable. What if they go down?
02:21:01:20 - 02:21:02:28
Dave
You know, you don't know.
02:21:03:01 - 02:21:17:03
So the point being is, is that by voluntarily paying the marginal rate upfront with the Roth and forfeiting the effective tax rate at the end, you're over you're over paying taxes, your returns.
02:21:17:03 - 02:21:17:28
Dave
Are lower.
02:21:18:01 - 02:21:20:06
Marty
And everybody starts out.
02:21:20:08 - 02:21:27:10
Everyone's been slapped. So I tell my friends as they start going through spreadsheets and check out wait a minute, wait a minute. Now, when I'm talking to a money manager.
02:21:27:10 - 02:21:31:16
Dave
And he's there with a lawyer in my office and and.
02:21:31:18 - 02:21:34:13
I'm explaining it to him, he's not quite getting it in. The lawyer starts.
02:21:34:13 - 02:21:38:22
Dave
Explaining it to him. So it's clear I've got the lawyer got it. He understood.
02:21:38:24 - 02:21:41:12
So gave a talk in front of 500 people, five.
02:21:41:12 - 02:21:45:20
Dave
Hundred money managers and investors in Vegas one day. And I said, Look.
02:21:45:20 - 02:21:48:00
If I'm wrong, tell me. I gave a half hour talk, which I.
02:21:48:00 - 02:21:54:22
Dave
Laid out the whole case I said, if I'm wrong, come and tell me no one did. And when I said I hadn't thought of it that way.
02:21:54:24 - 02:22:04:15
And I asked the money manager, Why do you sell Roth IRAs? If someone says, open IRA, 98% of time, they'll say a Roth.
02:22:04:17 - 02:22:05:26
Marty
Yeah.
02:22:05:29 - 02:22:27:20
And and I said, why? And and the guy says, you know? He says instinctively, I kind of knew there was a problem here. Now, what bothered me at the front end of the discussion was I said the government saying, let's take the revenue now for the future whereas the right, the Rosses, take the money now it's like the guys in the future, whereas the, the, the regular IRS is well forfeit the money.
02:22:27:20 - 02:22:28:21
Now the guys in the.
02:22:28:21 - 02:22:35:23
Dave
Future will get the money, which is a whole lot better. So that's what I had an allergic reaction to the Roth.
02:22:35:25 - 02:22:40:14
The Roth appeared at precisely time when Clinton was scraping to.
02:22:40:14 - 02:22:43:02
Dave
Get the balanced budget.
02:22:43:04 - 02:22:44:25
He needed revenue. So what did they do?
02:22:44:25 - 02:22:46:23
Dave
They opened the Roth and they said.
02:22:46:23 - 02:22:53:10
By the way, if you want to roll over your IRA into a Roth IRA, you have two years to do it.
02:22:53:13 - 02:22:55:13
Dave
And that's how they balance the budget.
02:22:55:16 - 02:22:58:08
Now, here's the interesting thing. Let's say I have $1,000,000.
02:22:58:08 - 02:22:59:03
Dave
In an IRA and.
02:22:59:03 - 02:23:18:29
Someone says, Oh, you can roll it into a Roth. That money's not only going to come out in the top tax bracket, it's going to drive to the pinnacle of the tax brackets. So it's going to be taxed. Why the fuck up there just to get it sheltered? This fucking reason.
02:23:18:29 - 02:23:20:09
Dave
Whatsoever.
02:23:20:12 - 02:23:22:09
Marty
Just to get a sheltered in a worse.
02:23:22:11 - 02:23:24:23
So here's here's here's the take home lesson this little.
02:23:24:23 - 02:23:25:15
Dave
Story.
02:23:25:17 - 02:23:50:26
If you read about Roth versus regular if they do not mention marginal versus effective tax rate that those are the two things you want to watch for. So here's what you do. You go someplace like Fidelity and you read about the Roth IRAs, the regular. And what you get is mumbo jumbo where they say, well, you know, it kind of depends on your tax situation, blah, blah, blah is a way of saying the Roth's bullshit.
02:23:50:28 - 02:23:51:29
But we can't quite say.
02:23:51:29 - 02:23:59:05
Dave
That we want to sell you IRAs no matter how you got them. So we'll sell you the red Corvette. And and then.
02:23:59:05 - 02:24:04:27
One day one of my colleagues says, I found it. I found your analysis.
02:24:04:29 - 02:24:12:02
Dave
Wikipedia is a why.
02:24:12:03 - 02:24:14:05
Marty
Does somebody make a post of your analysis or is it?
02:24:14:05 - 02:24:15:09
Dave
No, I don't think so.
02:24:15:15 - 02:24:16:03
Marty
Independently.
02:24:16:05 - 02:24:35:17
I don't It's that hard to figure this out. Now. There are other advantages. So, for example, I track a 6000 and it gets complicated when there's other things about inheritance and Shiite that I got, but I don't care. I just want to track 1000 hours and most people don't max everything out. And it depends on your income when you retire.
02:24:35:19 - 02:24:38:00
So If you've got a massive income in retirement, the.
02:24:38:00 - 02:24:43:12
Dave
Brass coming out it the regular is coming out in a high tax bracket anyways. So there's things like that.
02:24:43:12 - 02:24:48:00
But it's interesting as most people have not even thought.
02:24:48:00 - 02:25:01:16
Dave
About that component. They just said the Roth is good. They were like a brand could just get a Roth IRA. They get two vaccines in a booster, right?
02:25:01:18 - 02:25:03:12
Marty
Inflation. Inflation's good for you.
02:25:03:14 - 02:25:05:13
Inflation's good for the economy.
02:25:05:17 - 02:25:07:20
Dave
Yeah Yeah, yeah, yeah.
02:25:07:23 - 02:25:08:26
Marty
Well, that's where it's, like.
02:25:08:28 - 02:25:09:16
Bad.
02:25:09:19 - 02:25:21:27
Marty
Like, I don't know if it's a good thing or a bad thing, but since I've been in Bitcoin, since I was in college, like, don't even think about that stuff. Like, I just use Bitcoin in my savings vehicle. And the thought of having this.
02:25:21:27 - 02:25:27:03
Thinking, what's what's the switch right now if you spend bitcoin and it's appreciated, you have a complicated tax.
02:25:27:03 - 02:25:28:20
Dave
Story.
02:25:28:22 - 02:25:33:28
Marty
Yeah, you gotta pay capital gains tax, you do the cost basis and all that.
02:25:34:00 - 02:25:34:26
Dave
Well.
02:25:34:29 - 02:25:35:18
You end up with.
02:25:35:18 - 02:25:39:17
Dave
A nightmarish tax return.
02:25:39:20 - 02:25:41:28
Marty
That I don't spend like crazy amounts of bitcoin.
02:25:42:01 - 02:25:44:25
No, no, no. But let's say, let's say you spent, you.
02:25:44:25 - 02:25:51:10
Dave
Know, 2 to 2 purchases a day.
02:25:51:12 - 02:26:01:24
For the year. You got 700 ish transactions, all of which involve appreciated Bitcoin at different prices. How does that get handled on your taxes.
02:26:01:26 - 02:26:08:01
Marty
You do life of FIFO accounting on the inventory of the bitcoin.
02:26:08:04 - 02:26:10:01
Dave
So you kind of average it somehow.
02:26:10:03 - 02:26:29:02
Marty
Yeah and then you take the appreciation when you first got it to when you spend it, then you pay the cap gains long term, short term on that. That's why I try not to spend unless absolutely need to.
02:26:29:05 - 02:26:30:23
Dave
But I think that because of that.
02:26:30:26 - 02:26:34:16
Marty
Yeah, that that needs to change. It's ridiculous.
02:26:34:18 - 02:26:41:18
Dave
What what if they don't change it?
02:26:41:21 - 02:26:43:11
Marty
It's a good question.
02:26:43:13 - 02:26:53:08
Dave
But then it becomes that becomes the state again, right. This now becomes the battle, the state where they say, oh, by the way, if you spend your Bitcoin, we're going to get you.
02:26:53:11 - 02:27:00:12
Marty
Yeah, that's the whole point. Like the state needs to be completely disintermediated. These people.
02:27:00:17 - 02:27:07:11
Dave
I agree. The battle of the bastards will take place. I just. And you.
02:27:07:15 - 02:27:09:03
The reason people don't have these.
02:27:09:03 - 02:27:16:26
Marty
People don't have a leg to stand on. I mean, beginning of this conversation, a lot of them involved with pedophilia, they're not going to.
02:27:17:03 - 02:27:18:28
I'm of buying the ETF.
02:27:18:28 - 02:27:32:03
Dave
To get all your thousands upon thousands of acolytes who have these laser eyes poking at me. I'm thinking of buying some in the ETF just so I could say I can buy Hodler now leave me alone.
02:27:32:05 - 02:27:39:24
Marty
I think they would they would not leave you alone. They would say, that's not the way to buy Bitcoin. Dave.
02:27:39:27 - 02:27:59:29
Dave
Here I am sorry. I know. I know, I know still at some level before I shit though is if I can convert that into real bitcoin as it gets dicey, then then in theory. Right. I think then back to the GLD. I can have gold, the exposure to gold. I've got a lot of physical gold, but I can have DLT exposure to gold.
02:27:59:29 - 02:28:03:02
Dave
J Art. Now is the time to. Turn that to real gold.
02:28:03:04 - 02:28:30:03
Marty
Yeah, yeah, yeah. I think it's I mean you're talking about they're going to have to debase the dollar. I don't think they're going to objectively default on the debt it's going to be crazy debasement a long enough time line that leads to hyper inflation. I do think that'll force the hand of the ETF or people out of the Bitcoin ETF like, hey, I'm not taking dollars for this, give me the fucking Bitcoin.
02:28:30:05 - 02:29:05:08
Dave
So let's pretend that neither gold nor bitcoin are on the table. What else? How else would you protect yourself? Let's let's the gobblers and the hodlers I have a pretty good bead on on how to deal the debasing dollar. I think. I think they're both correct and and it's a very generationally distinct thing. There are some old guys who like bitcoin but but it's it's very So let's take those off the table and say okay what else.
02:29:05:11 - 02:29:17:29
Marty
Would you do? Bullets, land, seeds and livestock. I mean, that's hard assets. Yeah, hard assets, maybe uranium. I think nuclear is going to come.
02:29:18:02 - 02:29:19:19
I've got a.
02:29:19:21 - 02:29:25:15
Dave
Gathering and Rosensweig have a refinance for you guys.
02:29:25:17 - 02:29:26:17
I have been for.
02:29:26:17 - 02:29:48:25
Dave
Years now shopping for money managers who I think have the right idea and the plug goes. I think the guys at Horizon kinetics are good. I think Garing and Rosensweig, I'm about to give you an ETF, a fund. God, I keep you on wrong fucking site. A fund that I think these guys know what they're doing. All the markets are.
02:29:48:25 - 02:29:51:02
Dave
I'm fun today.
02:29:51:04 - 02:29:52:17
Marty
Are they?
02:29:52:19 - 02:29:57:03
Dave
Yeah. They're red.
02:29:57:05 - 02:29:58:02
But they're not right.
02:29:58:04 - 02:30:06:02
Dave
The markets are so high now that it takes a real red day to do any damage. So Garing and Rosensweig.
02:30:06:02 - 02:30:08:09
G r h i ex. These are a.
02:30:08:09 - 02:30:11:24
Dave
Couple of guys who who.
02:30:11:24 - 02:30:12:21
Understand.
02:30:12:21 - 02:30:18:02
Dave
The uranium small caps and stuff really well and the hard asset type stuff really well.
02:30:18:04 - 02:30:19:06
So my exposure to the.
02:30:19:06 - 02:30:23:08
Dave
Uranium is sugaring and rosensweig our h i x.
02:30:23:10 - 02:30:25:04
There's a guy who does small.
02:30:25:04 - 02:30:30:18
Dave
Caps named Eric Cinnamon and he is.
02:30:30:20 - 02:30:33:16
He he both takes money in and invest it as well.
02:30:33:16 - 02:30:39:14
Dave
As he has the mutual fund. It's one of these dual things. You want the mutual fund to have a ball and I do the mutual fund and that's.
02:30:39:15 - 02:30:41:04
P v c.
02:30:41:06 - 02:30:44:28
Dave
Access Palm Valley capital Investor.
02:30:45:01 - 02:30:51:28
And what he's really good at is waiting until he sees the whites of their eyes. So he listens.
02:30:51:28 - 02:30:59:06
Dave
To hundreds of conference calls year and all these little micro caps and shit that no one else is paying attention to.
02:30:59:08 - 02:31:03:11
And I sent him ideas I thought were clever, and it's clear to me that he's very selective about what.
02:31:03:12 - 02:31:06:18
Dave
Even pays attention to. And and.
02:31:06:20 - 02:31:09:16
He seems to be pretty invested right now.
02:31:09:16 - 02:31:10:10
Dave
For reasons that aren't.
02:31:10:10 - 02:31:12:26
Quite clear to me. He was 80%.
02:31:12:26 - 02:31:21:18
Dave
Cap quite a while and now he is. Now he's still the US government, 75%. He's 75% cash.
02:31:21:20 - 02:31:33:28
You look at the chart, it's a really telling chart, because if you look at the maximum chart of PBC Amex, you can see it's dead flat at the beginning of the fund. So he had small cap fund that.
02:31:34:04 - 02:31:39:14
Dave
He abandoned back when things were not. So he said, I'm out now and.
02:31:39:14 - 02:31:42:03
Nanny reopened it. I think getting ready for.
02:31:42:03 - 02:31:43:06
Dave
Something.
02:31:43:08 - 02:31:50:22
And is chart is flat and a pancake which I think is because he owned nothing and then the 2020 dip.
02:31:50:22 - 02:31:52:19
Dave
Appeared.
02:31:52:21 - 02:32:02:00
And you can see that he bought the dip and he bought it out a little early but then he made money coming out and then he went back to cash. So I'm paying.
02:32:02:05 - 02:32:05:15
Dave
Bastard for patience.
02:32:05:17 - 02:32:08:25
Marty
What happened this year? Monitor right now.
02:32:08:27 - 02:32:12:18
Something happened there and I don't. He must have had position in.
02:32:12:18 - 02:32:15:00
Dave
Something that blew up.
02:32:15:02 - 02:32:25:10
Then it looks like a distribution or something to me that there's something odd there that doesn't look that's not a drop that could even be a you look at Yahoo or something.
02:32:25:12 - 02:32:26:27
Marty
Google Finance.
02:32:27:00 - 02:32:42:04
Think it could be a glitch. I have Philip moore and I tobacco stocks, a lot of them have this gigantic glitch. And somehow it was like a split that didn't get corrected on the price chart. So It just.
02:32:42:04 - 02:32:44:17
Dave
Shows up as cutting in half.
02:32:44:19 - 02:32:51:06
So there's something went on there, like he did something with the shares.
02:32:51:06 - 02:32:53:27
Dave
I don't I don't know what, but.
02:32:54:00 - 02:32:55:04
There's no chance that was.
02:32:55:04 - 02:32:57:24
Dave
Just a bad day. I don't think.
02:32:57:27 - 02:32:58:15
I should send.
02:32:58:15 - 02:32:59:01
Dave
Him an email.
02:32:59:01 - 02:32:59:14
He's very.
02:32:59:14 - 02:33:02:19
Dave
Responsive.
02:33:02:22 - 02:33:05:16
So on December 20, it's the end of the year too.
02:33:05:16 - 02:33:18:10
Dave
So it's December 27th, it's at 13, and all of a sudden it's in the twelves very fast. It's about 5%. So it's December 28, heaven only now.
02:33:18:10 - 02:33:19:06
If nothing happens.
02:33:19:06 - 02:33:25:01
Dave
During that window. So there must have been some sort of readjustment or something. Yeah.
02:33:25:03 - 02:33:27:24
But I like that guy and I so I found three.
02:33:27:25 - 02:33:52:12
Dave
Money managers that I like. And when it's time to start buying. I'm not a stock picker. I've had luck doing it, but that's all it is, is luck. It was, you know, a lucky guy in a bull, right? That's no brainer. But I'm not good. Well, everyone looks like a genius in a bull market. Yeah, so.
02:33:52:15 - 02:33:55:26
But yeah, I keep fishing.
02:33:55:28 - 02:33:58:23
Dave
I bought Jaguar Mining.
02:33:58:25 - 02:34:01:02
And the advice of some incredibly.
02:34:01:02 - 02:34:14:26
Dave
Smart guys like James Grant, they got that? Got its ass kicked, just royally kicked look cheap. And I talked to Rick Rule one day and he said there are grades not holding up and I got fuck.
02:34:14:28 - 02:34:17:25
You know this is why I shouldn't pick stocks.
02:34:17:27 - 02:34:23:00
Dave
I should not pick stocks because.
02:34:23:03 - 02:34:26:06
What advantage do have picking a stock?
02:34:26:08 - 02:34:30:03
Marty
So I keep it simple. You just buy bitcoin or Bitcoin buy gold or gold.
02:34:30:09 - 02:34:36:13
Well, I think if we can get some woosh, I do think the commodity cycle is a correct model.
02:34:36:13 - 02:34:43:16
Dave
I do think that that that commodities are going to have a potential decade or more run.
02:34:43:16 - 02:34:45:04
I caught the entire commodity.
02:34:45:04 - 02:34:51:27
Dave
Cycle and I'll one up that I that's that was tremendously fortunate.
02:34:51:29 - 02:35:08:29
Marty
I think energy is I mean obviously it's a commodity but like energy is probably going to outperform not that I'm right some expert but just intuitively makes sense. We look at the state of the energy markets globally, what's happening in Germany, what's even happened here. We're repeating the mistakes of Germany with our solar wind expansion.
02:35:09:02 - 02:35:13:27
So here's the question. So I have to sort of touch One is it seems like the drillers.
02:35:13:27 - 02:35:18:08
Dave
And stuff have to have a job because they're going to have to start drilling again.
02:35:18:11 - 02:35:25:29
The other, though, is, is that because the politics, I think you might want to buy a company that operations like a royalty trust that already has the.
02:35:25:29 - 02:35:35:00
Dave
Fields and the permits and everything and just pumps money and I'm not sure maybe they're both right. Maybe they're both right, I don't know. But so.
02:35:35:04 - 02:35:37:06
My sense is you want to buy a company that's.
02:35:37:06 - 02:35:44:05
Dave
Already past all the hurdles and and and the price of energy goes up. They just make more money.
02:35:44:07 - 02:35:44:16
Marty
Yeah.
02:35:44:16 - 02:35:49:15
Dave
And and and so I think if you just I think.
02:35:49:15 - 02:35:50:11
I think if you went.
02:35:50:11 - 02:36:15:28
Dave
Into Fidelity and bought what turns out to be they have about a half a dozen resource related funds which I own them all in a at a level that I care about. But it's not life changing as I like to say, my gold purchases were somewhat life changing, but back when it was 290 an ounce, the amount of energy I own right now, it's not life changing.
02:36:16:00 - 02:36:32:05
Dave
It's hard to be life changing the older you get. By the way, I had a friend who was worth quite a chunk of money. I said, Well, how much gold do you want exposure to? Is, I don't know, 5%. I told him how much you'd have to buy and he was like, Because.
02:36:32:05 - 02:36:44:26
When you converted 5% into dollars, you go, Oh, that's a fuck ton of money. So when you're young, it's like, Oh yeah, 5%. We'll Take $200 and put it into gold.
02:36:44:29 - 02:36:51:21
Dave
Right? And but when you're a boomer, you know, it's feeling real.
02:36:51:23 - 02:36:53:22
Marty
No, no.
02:36:53:24 - 02:36:58:27
Dave
I still don't. I still don't know what's going to happen to the boomers when these markets. Correct.
02:36:58:29 - 02:37:03:14
Marty
We're going to take care of you. We're going to bring you guys into our homes. We're going to multi.
02:37:03:14 - 02:37:06:27
Dave
So you're going to buy our McMansions. You're going to buy our McMansions.
02:37:06:27 - 02:37:11:19
Marty
We're not buying them. We're just moving in. We're just moving in and taking the master bedroom and.
02:37:11:22 - 02:37:41:00
Dave
Well, yeah, I know, I know, I know. Now, I also have as a goal now neither my kids or what I'd call huge breadwinners One's a professional violinist to give you an idea and the others got a credible income but he's got three kids and you know that drill and so I'm not just saving and investing to make sure I will keep eating until I die of natural causes.
02:37:41:03 - 02:37:49:15
Dave
But I do want to leave a bit of a wild and, you know, a life changing bit of a lot.
02:37:49:17 - 02:37:53:09
Marty
Yeah, which is admirable because I want to do that too.
02:37:53:12 - 02:38:11:00
Dave
Well, I should be able to. I should be able to. If I don't blow it, I'm there. I mean, if I don't blow it, I've done the math and they might not be stinking rich, but they're going to have a silver lining on my death. You know, they're going to say, why don't you go on the bright side?
02:38:11:03 - 02:38:14:17
Dave
Yeah. So they will they will get to what know.
02:38:14:18 - 02:38:37:08
Marty
In all seriousness, though, I do believe that's going to be true. If this multi-decade bear market, which you're talking about in the year review piece, materializes, like I do think there's going to be like a forcing function where families are literally going to have to we're not going be doing old people homes anymore.
02:38:37:08 - 02:38:40:06
Dave
You're going to have multigenerational housing. Yeah. Yeah.
02:38:40:08 - 02:38:44:04
And that at first will be considered a defeat.
02:38:44:06 - 02:38:50:01
Dave
It'll be you know, the kids are living in the sofa, the basement sort of model. Right. But then what.
02:38:50:01 - 02:38:52:10
Will happen is it will become just a.
02:38:52:10 - 02:38:57:02
Dave
Positive aspect of society because, you know, in, in an.
02:38:57:02 - 02:38:57:20
Agrarian.
02:38:57:20 - 02:38:58:19
Dave
Society.
02:38:58:21 - 02:39:06:02
An evolutionary biologist once talked about there's no reason to live past a certain age because you need grandparents to teach the.
02:39:06:02 - 02:39:08:15
Dave
Parents how to raise kids.
02:39:08:17 - 02:39:09:20
You need grandparents to.
02:39:09:20 - 02:39:30:28
Dave
Take care of the kids while the parents are in the fields. But you don't need great grandparents. They're extra. They're useless eaters. And so that's why the life expectancy includes provisions for poor kids, parents, grandparents. But. But you don't need great grandparents. But but so.
02:39:30:29 - 02:39:31:24
In a modern.
02:39:31:24 - 02:39:43:04
Dave
Era, great grandparents will alleviate the need for daycare, right? They they will buy by living.
02:39:43:07 - 02:39:44:29
Under one roof. That will alleviate.
02:39:44:29 - 02:39:53:28
Dave
The need for assisted living. In theory, you know, at least cut it way back and it's much more efficient.
02:39:54:01 - 02:39:54:18
Marty
And it's much more.
02:39:54:18 - 02:39:55:29
Dave
Humane.
02:39:56:01 - 02:39:58:12
It's much more humane. And, you know, when we locked down.
02:39:58:12 - 02:40:01:00
Dave
I locked down with my son in his main squeeze.
02:40:01:05 - 02:40:06:18
We had a wonderful time. We'd sit up 10:00 at night at.
02:40:06:18 - 02:40:25:15
Dave
The dinner table, just talking about shit. And and it was just it was really a grind. There were people who blew that. They didn't use it. An opportunity to come back together. Yeah. And they just stared at the four walls. Went crazy. That was a fundamental mistake. And So we got together.
02:40:25:21 - 02:40:29:11
The idea made it bad, as that was. That was the months that I got.
02:40:29:11 - 02:40:39:17
Dave
Canceled at Cornell. And so I was getting the crap kicked out of me and those pig fuckers made life a little more miserable than it should have been.
02:40:39:20 - 02:40:41:06
Marty
Yeah.
02:40:41:08 - 02:40:41:25
No, I don't.
02:40:41:25 - 02:40:45:22
Dave
Think it lasted long, but it felt it did.
02:40:45:24 - 02:40:58:07
Marty
We're fortunate to. To experience this at least three months of the year in the summer. We live with my wife's parents at their shore. Her sister. There's like, 12 of us in the house.
02:40:58:09 - 02:40:59:02
Dave
Oh, that's fun.
02:40:59:03 - 02:41:07:05
Marty
That's great. It's a lot of fun. I mean, my family doesn't. We all got the same short town. My cousins, aunts uncles all do the same thing. They're kids.
02:41:07:08 - 02:41:09:01
Well, Thanksgiving, for example.
02:41:09:01 - 02:41:11:00
Dave
In my house, we had.
02:41:11:03 - 02:41:13:25
Eight people, nine people.
02:41:13:25 - 02:41:17:25
Dave
And eight dogs in my house.
02:41:17:27 - 02:41:19:26
Marty
It was a great feeling. Yeah.
02:41:19:28 - 02:41:28:15
Dave
That was a great feeling. There's just dogs everywhere. They were just having such a wonderful time. Kids everywhere, you know? It just it was just so.
02:41:28:15 - 02:41:30:16
I think I think.
02:41:30:19 - 02:41:43:02
Dave
You know, single generation housing will tend to go away. It won't go away completely, obviously, but it'll tend to go away and it'll be a net plus. It'll be a silver lining.
02:41:43:04 - 02:41:48:12
Marty
Right. So then of you out there listening, you may not have the best relationship with your family.
02:41:48:14 - 02:41:50:05
Dave
Maybe extend the catch it up.
02:41:50:07 - 02:41:50:28
Marty
Patch it up.
02:41:51:05 - 02:41:53:03
By the way, my my mother.
02:41:53:05 - 02:41:57:28
Dave
My, my, my, my wife. Freudian slip. My wife.
02:41:58:00 - 02:42:01:17
My wife and her mother had a somewhat strained relationship.
02:42:01:17 - 02:42:12:14
Dave
And then my wife said, you know, as she got older, she's obviously not too far from her going to the light. And she said, Can she live with us? I said, Yeah, sure, no problem.
02:42:12:16 - 02:42:17:20
And she only survived about six more months. But it was so important.
02:42:17:20 - 02:42:35:12
Dave
For my wife that six months was really just incredible for them to to to spend it. She was kind of bipolar and shit like that. So there was some damage to be repaired and stuff like that. And, and, and, and so I.
02:42:35:13 - 02:42:36:26
Highly recommend it.
02:42:36:29 - 02:42:45:28
Marty
Yeah. We're experiencing this to my family. I'm. I lost my father last year. His mom, my grandmother still around.
02:42:46:00 - 02:42:47:09
Dave
How did she die?
02:42:47:12 - 02:42:50:25
Marty
He had a heart attack vaccine related?
02:42:50:27 - 02:42:51:23
Dave
No.
02:42:51:26 - 02:43:11:02
Marty
I don't think so. Yeah. Okay. It's a story I'm not ready to tell on the show. I'll tell you. Okay. Okay. Off air, it's pretty fucked up, but I'm now my grandmother. She's, like, in her late seventies. She had a heart attack this year as well. Maybe vaccine related, I'm not sure, but she was living with my mom.
02:43:11:02 - 02:43:27:08
Marty
Now I know my mom stresses her out a lot, but I've seen that we were home for Christmas and my grandmother. I think it's really good for her, particularly at this stage, her life to be close to family. My brother's in town and they hang out and she gets a lot of joy out of all of it.
02:43:27:11 - 02:43:33:20
It's important, you know, occasionally one time I watch Howard Cosell get interviewed, illustrious career.
02:43:33:20 - 02:43:39:26
Dave
I never quite understood why it was so illustrious, you know, struck me as not as good as he seemed to be said to me, but.
02:43:39:29 - 02:43:40:14
Nevertheless.
02:43:40:14 - 02:43:42:13
Dave
A very illustrious career.
02:43:42:15 - 02:43:47:05
And he was dying of cancer. And someone said, Well, as you reflect back on.
02:43:47:05 - 02:43:54:05
Dave
Your career, and he said, It all seems so stupid. And I go, What?
02:43:54:08 - 02:43:57:09
And and he said, It just seems silly. It just seems.
02:43:57:09 - 02:44:07:01
Dave
Stupid what I did. And I watch this. I go, Don't find yourself in that situation. Whatever you do.
02:44:07:03 - 02:44:11:18
Don't do do what you got to do to not look back and say.
02:44:11:18 - 02:44:16:07
Dave
I squandered my time. Yeah. And I.
02:44:16:09 - 02:44:30:14
I think I think that might be somewhat of an inevitable feeling at some level where you go, you know so so I, I tell people go put up deathbed.
02:44:30:14 - 02:44:34:22
Dave
Regrets let's Google a deathbed regrets.
02:44:34:25 - 02:44:38:20
And and find out what people say they regret as.
02:44:38:20 - 02:44:41:05
Dave
They're on those final days.
02:44:41:07 - 02:44:43:26
And none of them will say, I wish I'd cleaned out my.
02:44:43:26 - 02:44:45:03
Dave
Inbox or my email.
02:44:45:06 - 02:44:54:02
You know that None of them will say, I wish I had done this and and the common one issue, I wish I spent more time with my family.
02:44:54:02 - 02:44:54:20
Dave
That's obvious.
02:44:54:20 - 02:44:57:23
But one of the ones that kind of clicked.
02:44:57:23 - 02:44:59:11
Dave
Was.
02:44:59:14 - 02:45:00:25
Someone said, I wish I hadn't.
02:45:00:28 - 02:45:01:29
Dave
So much.
02:45:02:02 - 02:45:02:28
Now I love my.
02:45:02:28 - 02:45:03:28
Dave
Job. So I don't.
02:45:03:28 - 02:45:04:13
Think I would.
02:45:04:13 - 02:45:07:26
Dave
Say that. I don't think I'd get there. I really.
02:45:07:28 - 02:45:11:06
For me, heaven is being in my office a Sunday.
02:45:11:06 - 02:45:20:27
Dave
Morning with my dog at my feet, one of my dogs at my feet, and I just does my man cave. So I always loved my job.
02:45:21:00 - 02:45:25:23
So I don't think that'll be my problem. But my wife has health problems.
02:45:25:26 - 02:45:27:15
Dave
Serious health problems.
02:45:27:18 - 02:45:29:13
Spectacularly fascinating.
02:45:29:13 - 02:45:30:22
Dave
Health problems. Actually.
02:45:30:24 - 02:45:31:21
Her most recent.
02:45:31:21 - 02:45:35:23
Dave
World record performance was she broke her neck.
02:45:35:25 - 02:45:37:22
For the second time on December 5th.
02:45:37:22 - 02:45:40:11
Dave
2022. For the second time.
02:45:40:14 - 02:45:50:29
And then she broke her neck for the third time On December 8th, 2022. She fell and broke it, a totally independent break. Three days later.
02:45:51:02 - 02:45:53:00
Dave
And I was worried about.
02:45:53:03 - 02:45:58:06
Brain injury. At that point, I never crossed my mind. She broke it again. She was in a neck brace.
02:45:58:06 - 02:46:01:06
Dave
I mean, she had the whole neck thing. She broke it again.
02:46:01:08 - 02:46:08:24
See one? It's a it's a death shot normally. But I think she's fragile enough that she could a low concussion fall.
02:46:08:24 - 02:46:10:20
Dave
Could produce break.
02:46:10:22 - 02:46:12:09
Most people break see one.
02:46:12:09 - 02:46:16:06
Dave
Really get their head wrenched so they die.
02:46:16:08 - 02:46:20:22
Like she's a bit a mess now. She's had 60.
02:46:20:22 - 02:46:21:23
Dave
Surgeries.
02:46:21:26 - 02:46:28:14
I mean now is the silver lining in this. Well, silver lining is is that I think because of ambition.
02:46:28:14 - 02:46:37:14
Dave
I would have had a tough time getting myself to pull away from my career enough to raise my kids correctly.
02:46:37:17 - 02:46:41:15
And it turns out that, you know, I was forced.
02:46:41:15 - 02:46:42:28
Dave
To write that.
02:46:42:29 - 02:46:55:14
It was not not a decision. Yeah, your family needs you. You go, you do it. And and I stepped. And what's really interesting is if you look in my life at the periods of time where things were really busting loose.
02:46:55:17 - 02:46:56:22
Dave
You know, where, you know.
02:46:56:22 - 02:47:19:19
She's totally fucked up and she had her spine fuzed on point. Just everything. Everything's a mess. If you look at my career path and you look at my papers, my publications, my group, whatever, you can't see a effect. You can't say, Oh, see that? That, that period where all hell was breaking loose at home. You can see it over here in his professional career as lower productivity.
02:47:19:19 - 02:47:39:19
You know, what I learn how to do is say, fuck it. There's things that matter and things that don't. You got to teach. You got to write grants, you got to write papers. The rest, the shit's noise. Don't go to seminars. Don't, don't, don't do shit. My colleagues were very good about Don't ask Dave to do shit. He's got his hands full.
02:47:39:21 - 02:48:04:02
And and so I took my kids to all the sporting events, all the concerts and everything, and it was just such a silver lining. And we'd go skiing and you're sitting and you're sitting on the chairlift with your son, and it's just you and your son and you talk about shit because it's quiet and there's no one there to interrupt you and you talk about life and stuff like that.
02:48:04:03 - 02:48:35:08
So the real silver lining was, is that I had incredibly meaningful time with my kids because my wife was fucked up. And and for me it was a win. And so, you know, I tell people, you know, you're going to enjoy your kids for about 12 years and then they become teenagers and you get to spend the next six years said, What did I do to be treated like this?
02:48:35:11 - 02:48:48:04
What, what, what did I do to make that little bastard hate me? You know, that's one thing. And I actually didn't have that problem. But I it's not rare the teenagers, a handful. My son and I were doing my older son. I were doing.
02:48:48:04 - 02:48:48:29
Dave
Taekwondo together.
02:48:49:00 - 02:48:55:11
And he was in his teens. And it was confusing to him because but he had he really looked up.
02:48:55:11 - 02:48:59:14
Dave
To the kids who we work out with.
02:48:59:16 - 02:49:13:05
And they really looked up to me. So I was sort of like a poor man's Michael Jordan type work. Michael Jordan's son looks his father says, Well, everyone in the world thinks this guy's God. So somehow I guess I should respect.
02:49:13:05 - 02:49:13:27
Dave
Him, You know, I don't.
02:49:13:27 - 02:49:18:22
Marty
Know. I know he's piss in a mugs at home. I don't know what everybody else sees it. I'm like, Yeah.
02:49:18:25 - 02:49:21:15
Dave
Yeah, yeah.
02:49:21:18 - 02:49:24:24
So in any event, my advice is make sure you take the time.
02:49:24:24 - 02:49:27:10
Dave
To spend with your kids.
02:49:27:12 - 02:49:31:01
You get about 12 really meaty years and then you get you.
02:49:31:01 - 02:49:40:14
Dave
Get about six more that are hormone and fasted crazy. And I never had a daughter, so I don't know. But I suspect they make you pay dearly.
02:49:40:17 - 02:49:41:05
Marty
That's what I heard.
02:49:41:05 - 02:49:52:20
You know, when you talk to parents of daughters, they say, Oh, no she's a good kid. They go, That's faint praise. That means down deep. She's a good kid. Superficially total total shit shithead.
02:49:52:22 - 02:49:53:16
Dave
Right.
02:49:53:18 - 02:49:56:04
Marty
Girls are easier in the beginning. Harder. And then that's what I hear.
02:49:56:04 - 02:50:05:25
That's exactly right. So they learn how not to wet their pants. They learn to read faster. They learn it. You know, I saw that one time in an after school play where first the.
02:50:05:25 - 02:50:08:24
Dave
Girls didn't apply. It was they were kindergarten girls.
02:50:08:26 - 02:50:16:20
And they're up there chatting with each other with teacups and shit doing their play. And then they get the boys up. They just rolled around the ground making.
02:50:16:20 - 02:50:18:12
Dave
Gurgling noises.
02:50:18:14 - 02:50:37:28
Like, Oh, this isn't even close to fair. There's just two different species, for Christ's sakes. And then, you know, my son was in remedial reading despite the fact he's smarter than the son of a bitch in his remedial class of 28 kids. We're all boys. 100%.
02:50:37:28 - 02:50:42:07
Dave
Boys. And and so, you know.
02:50:42:10 - 02:50:44:11
The young boys, they're pissing in their.
02:50:44:11 - 02:50:47:14
Dave
Pants too long. They're, you know, they're just.
02:50:47:14 - 02:50:53:10
They're just a handful. But then as teenagers, it becomes like the movie Ben-Hur. You see Ben-Hur?
02:50:53:13 - 02:50:54:10
Marty
Yes.
02:50:54:12 - 02:50:57:08
You remember when he's in the prison, that nasty.
02:50:57:08 - 02:50:58:28
Dave
Roman prison, I think, you know.
02:50:58:29 - 02:51:19:11
And they say, well, we slide the food under the under the door. And it keeps disappearing. So we think he's alive in there. And then they they pull him out after ten years in prison or something. And and they're sort of boys, they'll go into their man cave and if you don't want to have a fight, just don't go in their man cave and just leave.
02:51:19:11 - 02:51:21:29
Dave
Them in there and the girls.
02:51:21:29 - 02:51:23:13
Have come out of theirs looking.
02:51:23:13 - 02:51:25:02
Dave
For a fight.
02:51:25:04 - 02:51:28:29
Oh, God, I suck. I'm right in your face. Right in your face.
02:51:29:01 - 02:51:40:03
Marty
That's what I've a my oldest is almost four turns four. Next month we've started to start doing secret. A secret treat outings. Just me and him. The youngest is napping.
02:51:40:10 - 02:51:43:22
Dave
You have to do that. You have to do that. Yeah.
02:51:43:25 - 02:51:49:11
Marty
I've been. We've been picking a new burger spot once a week. Go and sit down talking.
02:51:49:12 - 02:51:56:00
That's fun it is fun. And when they to me the most interesting period of all was about 18 months.
02:51:56:00 - 02:51:57:24
Dave
So they start talking.
02:51:57:26 - 02:52:01:03
Marty
To my youngest. He's 18 months and he's starting to talk. It's hilarious and.
02:52:01:03 - 02:52:05:18
It's it's the shit that comes out of their mouths. And my son was a savant and it's funny.
02:52:05:18 - 02:52:08:20
Dave
Shit. I used to tell the class stories and.
02:52:08:23 - 02:52:09:25
You know, one day we're sitting.
02:52:09:25 - 02:52:13:28
Dave
There in the mall and some woman walks by.
02:52:14:00 - 02:52:20:06
And he turns to me and he says, Tampax brand tampons.
02:52:20:06 - 02:52:24:01
Dave
A woman knows that a woman needs to go.
02:52:24:03 - 02:52:25:12
What?
02:52:25:14 - 02:52:27:26
Dave
What? Where they come from.
02:52:27:29 - 02:52:51:12
You know, we got to turn that TV off. You know, that's just he just one time some woman drives by and honks and he says, Who's that? We're in an ice cream cone. He says, Suzanne, I said, Oh, that's Barb. You know, you're your babysitter. That's her mom. And he says to me, Does she like you? And, you know, talking to him was like playing ping pong job is just get it back over the net.
02:52:51:14 - 02:53:13:21
So with a totally straight face, I said, yeah, women like me. And he said to me, he says with a big grin. He says, So you think you're sexy? It's like, Well, and and. And then he said something in my wife blame me for teaching it to him. I said, He's going to daycare, for Christ's sakes. This is where he's getting all this shit from.
02:53:13:24 - 02:53:17:01
Dave
He's a brilliant artist. When he was young.
02:53:17:04 - 02:53:19:00
There's daycare, there's a kid in daycare.
02:53:19:01 - 02:53:23:29
Dave
Ended up being a professional artist, and the kids could color.
02:53:23:29 - 02:53:28:28
Like you wouldn't believe in a small daycare. And I come up one day and.
02:53:29:01 - 02:53:35:02
Dave
He loved horses obsessed over horses, obsessed over horses.
02:53:35:05 - 02:54:04:09
I'm going to show you something. And he's drawing horse heads. Just horse heads. And I say, What's with all the horse heads? And he says, Well, he says, he says the heads the hardest part to draw. So I draw them until I get one right, and then I finish it. I'm going, Holy fuck that kid is three years old.
02:54:04:09 - 02:54:07:12
Dave
When I go, Oh wow.
02:54:07:15 - 02:54:37:20
He was three years old when he drew those bunnies. What? He was. Yeah, This is the most amazing. This is actually truly extraordinary. I saw this. I said to my wife, Did he trace what? Where did this come from? That was preschool. Now, I said, Thomas, those are amazing. And he says he points to the good one. He says, that one's.
02:54:37:20 - 02:54:40:25
Dave
Really better.
02:54:40:27 - 02:54:50:22
Marty
And then I'm like, My son can't even color the color of the lines yet, let alone That's a good horse.
02:54:50:24 - 02:54:57:06
That's a good horse. Yeah, that's a that's a fucking good horse, right there. You can tell from the handwriting.
02:54:57:09 - 02:54:58:19
Marty
I have a horse I like.
02:54:58:21 - 02:54:59:08
Dave
It's.
02:54:59:11 - 02:55:03:23
It's a young horse. Yeah. The handwriting shows how old he is. That's that. A sixth.
02:55:03:23 - 02:55:04:15
Dave
Grader.
02:55:04:18 - 02:55:25:18
Yeah. So we had him tested when he was reading poorly and the reading teacher was convinced he was learning deficiencies. And I'm sitting there patiently letting her finish. And I finally got the and after she's saying all this shit and we had them tested and I said, I got to confess, the kid you're describing is a completely kid to me.
02:55:25:20 - 02:55:41:22
I said, The kid that I know is phenomenally intuitive, phenomenally bright. And he he's got a huge vocabulary, huge because I use a big word. And he would stop me say, What's that mean?
02:55:41:24 - 02:55:44:00
Dave
And I'd explain it to him.
02:55:44:03 - 02:56:05:03
And then finally the shrink says, Let's let's look at the test results. He tested 99% on everything except reading. They had a coloring where they it was like the shape of a house, but it was abstract and a very clever experiment. They give the kid different color pencils and then they mark make a legend so they can see which two lines the kid drew first, which he drew second.
02:56:05:08 - 02:56:19:26
So the problem of taking a complex picture, breaking it into components correctly and she shows the picture she had to draw, and then she shows this picture. Right? Identical. And she says that's an adult level performance.
02:56:19:28 - 02:56:21:29
Dave
This is in first grade.
02:56:22:01 - 02:56:35:02
And and and he scored 90 percentile. She said his biggest problem is going to be when he can't do something easily, he will probably get frustrated.
02:56:35:05 - 02:56:37:18
Dave
And that's exactly what happens.
02:56:37:20 - 02:56:49:03
So when he is competing in concerto competitions, if he didn't win, he would get pissed off. But he was always is a brilliant underdog. He was better as an underdog.
02:56:49:03 - 02:56:49:18
Dave
Because his.
02:56:49:18 - 02:56:50:19
Expectations.
02:56:50:19 - 02:56:55:13
Dave
Would be down and then he'd excel like crazy.
02:56:55:16 - 02:57:19:27
Seabiscuit. My older son was a disaster. Now my older son, at one point I said to his teacher, So let me see if I got this right. The only kids in this class is beating her crack babies. And she they're not used to parents saying, I got and she sort of swallowed. She's a pretty much. So he went off.
02:57:19:27 - 02:57:22:09
I tried to get him to join the Navy.
02:57:22:09 - 02:57:24:25
Dave
My wife wasn't a big fan of that idea.
02:57:24:28 - 02:57:27:12
He went off to a two year hotel management.
02:57:27:12 - 02:57:32:26
Dave
Program at some college. The best I can tell, the only requirement is a dad could write a big enough check.
02:57:32:28 - 02:57:50:19
And why does my phone not? And. And then he matured and then transferred to a four year program. Neither institute is particularly scholarly. And then he went to New York City without a job and he's now the director of Event management at.
02:57:50:19 - 02:57:54:00
Dave
The Council on Foreign Relations.
02:57:54:03 - 02:57:57:14
Well, what the fuck happened? What just happened?
02:57:57:16 - 02:57:59:05
Marty
You never know.
02:57:59:08 - 02:58:09:06
Your mouth takes different amounts of time. Climb mount, stupid. Yeah, that's funny. Climbed Mount Stupid.
02:58:09:08 - 02:58:17:20
Marty
I mean. Yeah, And I'm in the beginning of this journey. It's fun. My four year old four year old, like he's hit this point where it's like, Oh, wow, you can have time.
02:58:17:21 - 02:58:19:19
Dave
You keep a diary. You keep a diary.
02:58:19:26 - 02:58:21:08
Marty
I do. I do.
02:58:21:10 - 02:58:40:11
Dave
You should. You should What. You should do. Is just open a word document. Just start every night, do your Doogie Howser thing and just type a few. Just write a few things. You don't know what to. You don't know what you'll do with it. You just write them down. They'll say something so fucking funny and you swear you'll remember it and you won't.
02:58:40:16 - 02:59:01:10
Dave
I remember a lot of shit because I used to tell tell the stories to my class, and so that I was like, Homer was illiterate. Alien Odyssey was memorizing. She memorized that story, and so by telling my stories to my class, I remember them better.
02:59:01:12 - 02:59:05:09
And but my sons start out way behind.
02:59:05:09 - 02:59:14:15
Dave
And Violet, we didn't have a good teacher. I didn't know how important it was. And then in ninth grade, he got a he got a good.
02:59:14:17 - 02:59:17:15
I think she whispered in the ear of the high school orchestra.
02:59:17:15 - 02:59:24:26
Dave
Teacher. This kid, this kid needs a lot of rehab. But but I think he could end up good because he.
02:59:24:26 - 02:59:31:14
Seemed to get treated well. Yeah. And he started out behind six kids in his class who are.
02:59:31:14 - 02:59:42:02
Dave
All know Korean girls and stuff like that, just banging away on the violin like crazy. And by his senior year, he was concertmaster. He was the guy who got the solo one time.
02:59:42:02 - 02:59:44:07
He competed in a.
02:59:44:09 - 02:59:52:09
Dave
Concerto competition and he he got a letter saying, you came in.
02:59:52:09 - 02:59:55:19
Second place. We had no idea.
02:59:55:19 - 02:59:58:13
Dave
You even existed. We don't know where.
02:59:58:13 - 03:00:00:10
You came from.
03:00:00:12 - 03:00:02:17
Dave
You Should contact us.
03:00:02:19 - 03:00:07:20
There's things we can do for you and things like that. So. So this. This group had no idea this kid was.
03:00:07:20 - 03:00:11:29
Dave
Just an unknown in town. And then he.
03:00:11:29 - 03:00:15:22
Played with a professional orchestra. He did a did a solo.
03:00:15:24 - 03:00:22:23
Dave
In a music festival. And I remember when the the conductor was a professional orchestra.
03:00:22:26 - 03:00:32:19
Said his friend Tchaikovsky had said when this was written, it was considered to be unplayable. And then he played Tchaikovsky. Now there's violinists.
03:00:32:19 - 03:00:38:20
Dave
Who know how to play Tchaikovsky, and so they say, Well, that's stupid. But again, Seabiscuit, he.
03:00:38:20 - 03:00:39:24
He took up lacrosse.
03:00:39:27 - 03:00:41:18
Dave
10th grade.
03:00:41:20 - 03:00:47:04
And he he picked it up so fucking fast. You play lacrosse. So we talked.
03:00:47:04 - 03:00:48:14
Dave
About lacrosse, right? Yeah.
03:00:48:16 - 03:00:50:14
Marty
Yeah. Big LAX.
03:00:50:16 - 03:00:53:15
He was totally ambidextrous.
03:00:53:15 - 03:00:56:06
Dave
Within a month and a half.
03:00:56:08 - 03:01:17:21
And then one when I signed a bunch of caps. And one day he was. He was playing catch with a guy, a Syracuse player. And I watched his coach lean over and say something to the other coaches who are just sitting there watching. I watched them all sort of sit forward and watch him. And the Syracuse player was chucking the ball randomly.
03:01:17:24 - 03:01:18:10
Dave
Now, I.
03:01:18:10 - 03:01:25:18
Know Syracuse could hit a fly and the ball was left right, you know, high, low. And Thomas just.
03:01:25:18 - 03:01:26:24
Dave
Grabbed it out of the air from every.
03:01:26:24 - 03:01:28:05
Direction. No problem.
03:01:28:05 - 03:01:29:12
Dave
Whatsoever.
03:01:29:15 - 03:01:31:09
And afterwards, I talked to the coach is a former.
03:01:31:09 - 03:01:33:09
Dave
Hobart player, and I said.
03:01:33:12 - 03:01:37:05
Did you lean over and tell those guys he's been playing lacrosse for four months?
03:01:37:10 - 03:01:43:28
Dave
He said, Yeah, I did. And they were just flabbergasted, just flabbergasted.
03:01:44:00 - 03:01:45:18
So he played on a travel team.
03:01:45:18 - 03:01:49:07
Dave
And they didn't know he'd never played lacrosse.
03:01:49:09 - 03:01:50:10
Marty
For reference out there.
03:01:50:11 - 03:01:51:04
Dave
For.
03:01:51:06 - 03:01:55:22
Marty
Like building stick skills in lacrosse takes time away from his.
03:01:55:22 - 03:01:58:10
But it doesn't take as much time as people think, though.
03:01:58:12 - 03:01:58:27
Dave
Yeah, it's.
03:01:58:27 - 03:02:03:20
A great sport. It's a great sport for picking up a little too late.
03:02:03:22 - 03:02:06:02
Marty
Yeah, I picked it up in eighth grade.
03:02:06:04 - 03:02:10:13
Yeah, I picked it up in seventh and.
03:02:10:15 - 03:02:17:27
Dave
And then gymnastics knocked it out. I needed to do gymnastics full year, so I played for two years.
03:02:18:00 - 03:02:23:23
Do you watch lacrosse now? Oh, yeah. Yeah. So Tommy Abbott was my teammate.
03:02:23:25 - 03:02:24:10
Dave
Oh, really?
03:02:24:10 - 03:02:27:14
I think we talked about this. Yeah. Tommy Everett was the southpaw.
03:02:27:18 - 03:02:28:23
Dave
My my attack.
03:02:28:29 - 03:02:29:28
So I was a crease.
03:02:30:05 - 03:02:31:11
Dave
Crease attack.
03:02:31:13 - 03:02:41:21
He was the southpaw. He was clearly better than me. Clearly, he ended up being a three time first team all-American. So I didn't know he was that good.
03:02:41:21 - 03:02:44:04
Dave
I just knew he was better than me. And as.
03:02:44:04 - 03:02:50:27
I'm sure I told you before, the defenseman Who beat the fuck out of me fairly routinely ended up being the long snapper for.
03:02:50:27 - 03:02:54:15
Dave
The Cowboys for 12 years. Rafferty, Tom Rafferty.
03:02:54:18 - 03:03:10:02
So my self-image of lacrosse may not be my best sport was was a little distorted. The other defenseman, it was not a problem at all played for Georgetown right So yeah, but I was a gymnast at heart.
03:03:10:03 - 03:03:14:10
Dave
I just wanted to do gymnastics and I wasn't.
03:03:14:13 - 03:03:15:28
Relatively I wasn't as good at.
03:03:15:28 - 03:03:19:11
Dave
Gymnastics, but I loved it. I just adored it.
03:03:19:13 - 03:03:26:25
Marty
You know, we've got to tall, we've got lacrosse sticks in the boys hands already. My brother played D1. He got them.
03:03:26:27 - 03:03:28:26
Dave
Fiddlesticks. Where do you.
03:03:28:26 - 03:03:30:14
Marty
Find Bryant University?
03:03:30:15 - 03:03:32:29
Bryant Bryant's pretty good.
03:03:32:29 - 03:03:35:05
Dave
Pretty good.
03:03:35:07 - 03:03:38:20
Looks. You make him wear gloves when they play catch?
03:03:38:23 - 03:03:42:26
Marty
No, they can't catch it. It just we're working on cradling and.
03:03:42:28 - 03:03:44:00
Dave
Okay.
03:03:44:03 - 03:03:46:10
So once I get get the gloves on him.
03:03:46:10 - 03:03:48:20
Dave
That's my advice. Yeah.
03:03:48:22 - 03:04:00:21
And my son and I, we play catch So we had a wonderful time because I bought two sticks and then we, we'd play catch 2 hours a day and he'd get mad at me for throwing.
03:04:00:21 - 03:04:03:20
Dave
The ball poorly. Occasionally.
03:04:03:22 - 03:04:14:12
I'd say Thomas, Do you really think the ball's always going to come to the right place? You gotta learn to catch it wherever it's reachable. And and he got to that point.
03:04:14:12 - 03:04:15:25
Dave
And again.
03:04:15:28 - 03:04:20:01
Because he was right handed, he played left hand probably 60 or 70.
03:04:20:01 - 03:04:24:05
Dave
Percent of the time to strengthen his left hand. Yeah.
03:04:24:08 - 03:04:29:09
And so he's truly ambidextrous.
03:04:29:12 - 03:04:34:28
Marty
I can't get the, the smell of my side gloves. I can smell my gloves from working. Yes.
03:04:35:00 - 03:04:41:19
My, my mouth. They get they get a little rancid, don't they? The problem I have is I had terrible gloves. I mean, I had these clubs that.
03:04:41:19 - 03:04:49:17
Dave
Were like £10 apiece. They were these big leather things. And. And the other thing is I had a wooden stick.
03:04:49:19 - 03:04:51:18
Plastic sticks had been introduced.
03:04:51:18 - 03:05:01:14
Dave
And I think I think if I'd gotten plastic stick, it would have made a big difference because because they're more reproducible, you break a wooden stick, you got to find a new stick.
03:05:01:17 - 03:05:12:16
Marty
I, uh, I coached. When I coached, I use the wooden stick. This sounds like a flex. Like right on the coach. I got the wooden stick. Can we go?
03:05:12:19 - 03:05:15:03
Dave
Well, yeah.
03:05:15:05 - 03:05:16:05
Marty
Oh.
03:05:16:08 - 03:05:19:05
Yeah, I. I wish I'd.
03:05:19:05 - 03:05:39:22
Dave
Had a plastic stick. Now. Would. That would have made a big difference way more reproducible and. Yeah. And, and then I, when my son took it up I, I realize he needs to get a lot of game time and so I set up two lacrosse leagues in town. It was stupid. I mean, there's no way that we should have had lacrosse leagues in town.
03:05:39:24 - 03:05:47:19
Dave
So I sat up there Friday, Lacrosse. We go up to a rank and play box lacrosse, and I.
03:05:47:19 - 03:05:49:04
Rounded up all the Division one.
03:05:49:04 - 03:05:58:12
Dave
Players I could find, all the high school players. I could find all the coaches I find. And we'd play box lacrosse every Friday night. And then and then I had.
03:05:58:14 - 03:06:00:29
Tuesday and Thursday evening in lacrosse during the.
03:06:00:29 - 03:06:25:16
Dave
Summer, and then the Ithaca High School team got better, and one of their coaches said, I want my guys to play together. So I'll tell you what. So you take the high school team, you're one team and I will take the adults and they're the other team. And one of them was like the Indian national goalie. I mean, we had some Hobart players, Cornell players.
03:06:25:18 - 03:06:40:19
Dave
I said, Our guys will play your guys and therefore you can play as a team. So what happened? So the first year Ithaca played against a team called West Genesee No. Now do you know West?
03:06:40:19 - 03:06:45:06
Marty
Genesee Yeah, I mean they're historically incredible at Lacrosse.
03:06:45:08 - 03:06:53:21
Yeah 15 state titles. Yeah. So they play West Genesee and I called my brother and I said if I played West Genesee in the regional.
03:06:53:24 - 03:07:07:15
Dave
Regional bracket and he said, how much of a bloodbath was it? And I said, well I was not too bad. It was 8 to 4. We won. And my, my brother just hit a brick because.
03:07:07:17 - 03:07:09:11
Because West Genesee had.
03:07:09:13 - 03:07:14:00
Dave
You know, we beat West to see what I played, but it was just pure luck.
03:07:14:03 - 03:07:34:22
Marty
And for for anybody listening to this right now to uh, to describe the, the reverence people have for West Genesee, like there's a drill that every high school team in the world runs. It's called West Genesee. It's like shorten the field up and you go three on three. It's called the West.
03:07:34:22 - 03:07:37:26
Genesee So there's Genesee to come.
03:07:37:28 - 03:07:39:19
Dave
Your two comes.
03:07:39:21 - 03:07:44:15
In Ithaca have the depth. So we had from senior down to freshman when I played you didn't.
03:07:44:22 - 03:07:56:02
Dave
You didn't start on the varsity until you were a junior. I mean we had so much depth. You were your J.V. in 10th grade no matter how good you are. And, and so.
03:07:56:02 - 03:07:57:02
Then the second year.
03:07:57:02 - 03:07:58:26
Dave
Comes and I think a.
03:07:58:26 - 03:08:01:22
West Genesee is going to come back and they are going to be so goddamn.
03:08:01:22 - 03:08:06:29
Dave
Angry, they're going to kick our ass. We almost took them to the mercy clock.
03:08:07:01 - 03:08:08:28
That's where you get so far ahead.
03:08:08:28 - 03:08:18:20
Dave
They stop, stop turning the clock off when the ball gets out of bounds. So we had them up like 13 to 2 at one point. And and.
03:08:18:21 - 03:08:24:02
Our face off guy you know how good West Genesee face off guys got to be right this is going to be ad1 face.
03:08:24:02 - 03:08:25:03
Dave
Off guy.
03:08:25:06 - 03:08:27:01
Our face off guy.
03:08:27:03 - 03:08:33:04
Dave
Went 13 and oh against them in face offs oh 13 and oh so.
03:08:33:04 - 03:08:34:14
He is was a Harvard.
03:08:34:14 - 03:08:38:12
Dave
Recruit. So I sent an email to the Harvard coach and said, you.
03:08:38:12 - 03:08:44:12
Know that your most face off recruit just beat West Genesee 13 to nothing at face off these emails back he.
03:08:44:12 - 03:08:46:03
Dave
Said yes I did.
03:08:46:05 - 03:08:48:03
Marty
Yes at the stat line immediately.
03:08:48:08 - 03:08:48:25
Dave
And.
03:08:48:25 - 03:08:51:03
Yeah so he became Harvard face off guy.
03:08:51:05 - 03:08:53:14
Dave
And then the third year we won again.
03:08:53:15 - 03:08:56:21
We took question three, three years in a row.
03:08:56:24 - 03:09:00:06
Dave
And then I passed the wand over to someone else to.
03:09:00:06 - 03:09:05:00
Run the leagues and they dropped the ball and now we're mediocre again.
03:09:05:02 - 03:09:08:25
Marty
I can't do a Dave column. Well, can't you do well?
03:09:08:25 - 03:09:10:22
Dave
I just got them organized.
03:09:10:24 - 03:09:22:08
I didn't, I didn't, I actually didn't play. I was so tempted, but I didn't play. I almost tried to play in the Lake Placid tournament almost. That's where, you know, the guys take off their.
03:09:22:08 - 03:09:42:26
Dave
Helmets and the old guys and they look like Darth Vader. Oh, my God. You know, And, you know, they talk about their 401 ks on the sideline, 7000 lacrosse players up in Lake Placid. I almost tried to play in that. And I said, Now, weekend warrior shit, bad idea and not worth not worth it. Not worth the risk.
03:09:42:29 - 03:09:50:03
Marty
I boxer cross for a little bit after college late leagues after a while especially so.
03:09:50:03 - 03:09:54:06
So So if you're a good lacrosse player you get jobs on wall Street because the various firms.
03:09:54:06 - 03:09:56:02
Dave
Have teams and they want.
03:09:56:05 - 03:09:59:23
Marty
The Wall Street players, the Wall Street firms mafia like it's a.
03:09:59:23 - 03:10:06:09
Dave
Real sense that Gotham, like the Gotham League, right? The Gotham League and and and.
03:10:06:09 - 03:10:09:21
You know, box lacrosse players. Lacrosse was like Tony Greer, like.
03:10:09:23 - 03:10:19:22
Dave
Lacrosse for Cornell, for example, McInerney was one of the greatest attack men in history. He was in the towers when they went down.
03:10:19:25 - 03:10:23:19
And McInerney, French, the the Cornell lacrosse.
03:10:23:19 - 03:10:27:01
Dave
Dynasty with Richie Moran was extraordinary.
03:10:27:03 - 03:10:29:02
So McInerney had to play freshman.
03:10:29:02 - 03:10:34:01
Dave
Lacrosse because because they had lacrosse back then.
03:10:34:03 - 03:10:36:25
And and Ritchie would go over to.
03:10:36:28 - 03:10:37:16
Dave
To watch.
03:10:37:16 - 03:10:59:26
The freshmen play. And there is McInerney scoring 15 goals. And he was the most crazy like an attack man you ever saw. And his other attachment was French was also first to first team, all Americans on one team. Right? This was this was a this was a legendary team.
03:10:59:28 - 03:11:02:01
Dave
And and and.
03:11:02:05 - 03:11:03:17
They won back to back national.
03:11:03:17 - 03:11:12:27
Dave
Titles. And then they went back to being sort of top ten, never won another title came close. They should have won one.
03:11:13:00 - 03:11:19:06
Marty
So what's happened to what's happened to Cornell in recent years? They've fallen off since Cornell left.
03:11:19:09 - 03:11:21:13
Dave
Well, well, no, not not true.
03:11:21:19 - 03:11:30:16
I think it was last year, the year after COVID shook. So I'd have to cancel lacrosse. Cornell lost a couple of players because of that.
03:11:30:19 - 03:11:32:03
Dave
Yeah, they have a brand.
03:11:32:03 - 03:11:37:11
New coach who is a former Cornell player. And the next year.
03:11:37:13 - 03:11:41:12
Dave
They took Maryland to The Wire in the national title.
03:11:41:15 - 03:11:49:27
Cornell did not fall off. They did. So he got Coach of the year because here's this young punk and we were the only team that gave Maryland golf.
03:11:49:27 - 03:11:51:09
Dave
Maryland owned everyone else and.
03:11:51:13 - 03:11:55:05
Marty
They went undefeated. It was like the first true and undefeated season while.
03:11:55:06 - 03:12:00:08
Right. And we took them to The Wire. I mean, it wasn't, you know, 10 to 9 or.
03:12:00:08 - 03:12:19:18
Dave
Something like, you know, ten to 10 to 7 or eight. But no one stayed with Maryland that year. And and and that was his rookie season as a coach with several lost players. So now Cornell hasn't fallen off a cliff. We'll see what this year brings. That was two years ago. I think. Don't know what happened last. I can't remember.
03:12:19:20 - 03:12:27:14
Marty
I'm looking for it right now, but I got lacrosse. If you guys like, watch lacrosse, college lacrosse specifically, it's a.
03:12:27:16 - 03:12:30:12
Dave
It's a great sport. It's hockey with control.
03:12:30:14 - 03:12:33:01
Marty
It's my favorite sport. And they want to.
03:12:33:06 - 03:12:37:10
Dave
In the fastest growing sport, they want to love for sure.
03:12:37:12 - 03:12:39:28
Marty
So off to Penn State.
03:12:40:00 - 03:13:02:24
Dave
The amazing game was when it was, I think, a semifinal game against Duke. And they got down by nine goals and some like 10 to 1. And it was something like 120 degrees on the field. It was it was a scorching game. And they came back to tie it up and lost in overtime.
03:13:02:26 - 03:13:05:00
Marty
Yeah, the national championship game.
03:13:05:02 - 03:13:05:15
Was at the.
03:13:05:15 - 03:13:13:21
Dave
National game, I can't remember, but yeah, but then there was the other one where they went, I think they went against Syracuse and.
03:13:13:23 - 03:13:15:26
Cornell's bench just wasn't quite deep.
03:13:15:26 - 03:13:18:21
Dave
Enough and we sort of gasped out at the very end. We had a three.
03:13:18:21 - 03:13:19:24
Game lead and we.
03:13:19:24 - 03:13:33:21
Dave
Were really the team to be and somehow Syracuse pulled it off and it was so painful to watch. I woke up at 5:00 the next morning with the game in my head and I'm thinking, Oh, how would you like to be a player?
03:13:33:24 - 03:13:35:18
Marty
That was a.
03:13:35:20 - 03:13:37:08
Dave
Oh, my.
03:13:37:10 - 03:13:44:21
Marty
My brother's a highlight of his college career. They made it to the tournament as the 15 seed beat Syracuse in the Dome.
03:13:44:24 - 03:13:50:03
Dave
I remember that. I remember that Bryant team. That's why. So I said, Brian.
03:13:50:06 - 03:14:00:13
Marty
He was a captain on that team. Yeah, that was fun. I was in Chicago watching that game. But the brunt of the TV.
03:14:00:15 - 03:14:02:09
Well, we have one of the.
03:14:02:12 - 03:14:02:26
Dave
I think it's.
03:14:03:00 - 03:14:07:11
Chris brothers. Chris Brothers. You know, those guys is one of these five man.
03:14:07:13 - 03:14:08:01
Dave
Brothers.
03:14:08:01 - 03:14:09:00
Where well.
03:14:09:03 - 03:14:11:14
Dave
One of them, by definition, is a goalie and there's.
03:14:11:18 - 03:14:12:21
Attacking and.
03:14:12:21 - 03:14:14:17
Dave
Métis amongst the other two.
03:14:14:24 - 03:14:17:28
Marty
Yeah, the cardinal was just one for Notre Dame last year.
03:14:18:01 - 03:14:29:01
Dave
Right. And and we have one of them on the team and he's still I think he's a junior maybe so the Ivies are very good in lacrosse. It's still you.
03:14:29:01 - 03:14:31:00
Know the prep schools we don't even by the way, get.
03:14:31:00 - 03:14:34:23
Dave
Kids from Syracuse area. If you look.
03:14:34:23 - 03:14:37:06
At Cornell's team, there's any coming out of.
03:14:37:06 - 03:14:58:27
Dave
West Genesee Fairfield, Manlius sort of schools. They're coming out of prep schools. What I'm coming out of prep schools and know it was created by Harkness, who has both the foot, the hockey and the lacrosse coach, and he had a network Canada. He could pull kids out of Canada like crazy.
03:14:58:29 - 03:15:03:03
Marty
You want the Canadians on your team? Crazy stick skills. Tough as nails.
03:15:03:04 - 03:15:06:00
Dave
But but but one handed.
03:15:06:03 - 03:15:07:23
Marty
Yes because they play ball and.
03:15:07:23 - 03:15:09:04
Dave
One handed to coach. That's right.
03:15:09:04 - 03:15:10:18
You can spot them a mile away.
03:15:10:18 - 03:15:15:24
Dave
You can see the box in their style. Right, Right from the get go. Yeah. And so this.
03:15:15:26 - 03:15:25:26
Three, three time all-American on my team, the other at the southpaw. I said to someone, I said, well, he must have. He must have he must have solved that handed problem that someone.
03:15:25:26 - 03:15:39:12
Dave
Said, no, he never was. He was always a southpaw. And I didn't think you could play that level of lacrosse without eventually getting your your we can stronger. But but now he's always in southpaw but.
03:15:39:14 - 03:15:39:22
Very.
03:15:39:22 - 03:15:43:03
Dave
Successful. Very successful.
03:15:43:05 - 03:15:45:26
And lacrosse is the most.
03:15:45:26 - 03:16:09:21
Dave
Rapidly growing sport. It's moving across the country. The problem is now now you've got the you know, the Michigan's and the Notre Dame's and the Ohio and and it's and now it's it's going to be hard for the traditional winners to win. And I don't think by the way Gary Gait is necessarily the best coach for Syracuse. My suspicion is he's not a great coach.
03:16:09:23 - 03:16:11:24
Dave
Just a hunch.
03:16:11:26 - 03:16:17:04
Marty
That former Philadelphia player Gary Gait. Yeah.
03:16:17:06 - 03:16:24:10
Well, so so last night I introduced my son to Gary Gait. I said, Thomas is Gary Gait.
03:16:24:12 - 03:16:47:06
Dave
And they shook hands. And my son was just flabbergasted, just blown away. Anyone who's anyone in lacrosse is up and placid. You walk through there and there's just legends of lacrosse as far as the eye can see, And and they're all there. And the open Division men's lacrosse is suspect tacular lacrosse up there. They got everybody up there.
03:16:47:06 - 03:16:49:21
Dave
Who is the guy who's Paul what's his name from Hopkins.
03:16:49:21 - 03:16:50:18
Paul.
03:16:50:20 - 03:16:53:07
Dave
Give me Paul.
03:16:53:09 - 03:16:55:21
Marty
The dude who runs the PLL. Paul Rebel.
03:16:55:24 - 03:16:56:04
Dave
Yeah.
03:16:56:05 - 03:17:06:21
Rebel Yeah, Rebel was like a sophomore. And I'm looking at this kid. I'm going, this is a man child, like, this huge thing, But he's a.
03:17:06:21 - 03:17:10:23
Dave
Kid and he.
03:17:10:25 - 03:17:13:28
Marty
Was like six, five or six, seven or something. He's massive.
03:17:14:00 - 03:17:23:05
Dave
But just solid. Just a scaled up version of £120 wrestler or something. You know, he was just. Just a phenom. Yeah. And, you know.
03:17:23:07 - 03:17:25:09
Not Pinnell, the other Cornell guy.
03:17:25:09 - 03:17:32:23
Dave
Who won the Taunton Trophy. I was drawing name Point. So panel and this other guy won the Titan Trophy, which is the Heisman.
03:17:32:25 - 03:17:42:22
He came to Cornell to play soccer and switched to lacrosse. Now, I think he played lacrosse, but he got recruited for soccer.
03:17:42:24 - 03:17:46:27
Marty
That's usually either play football, lacrosse or soccer or lacrosse.
03:17:46:27 - 03:17:49:05
Actually, a lot of a lot of basketball.
03:17:49:05 - 03:17:50:20
Dave
Lacrosse, too.
03:17:50:23 - 03:17:51:10
Marty
Yeah.
03:17:51:12 - 03:17:52:19
Dave
You know.
03:17:52:21 - 03:17:55:08
Richie Moran used to have his team play.
03:17:55:08 - 03:18:09:08
Dave
Basketball during the winter because it's like a half court half field offense. Right So he so so so basketball lacrosse of tremendous similarities.
03:18:09:11 - 03:18:17:12
Marty
Trying to see trying to see the Cornell to our town winners and now.
03:18:17:12 - 03:18:19:23
Dave
What's his name.
03:18:19:26 - 03:18:22:21
Marty
Curse was in the running this year.
03:18:22:24 - 03:18:25:22
Dave
Yeah he's good.
03:18:25:25 - 03:18:30:19
Marty
So you know last year Max Sebald.
03:18:30:21 - 03:18:33:01
Dave
That's it was Sebald. Sebald Yeah.
03:18:33:03 - 03:18:35:00
Sebald was actually the one.
03:18:35:00 - 03:18:41:07
Dave
Who ultimately sort of had control of the ball when he was a admit.
03:18:41:13 - 03:18:42:18
Marty
It to me.
03:18:42:21 - 03:18:46:06
Dave
Yeah, he was gassed out. He had nothing left. He just had nothing left.
03:18:46:11 - 03:18:47:07
What they should have done is.
03:18:47:07 - 03:19:02:12
Dave
Taken a guy off the bench and said, take the ball and run as fast as you can. Just run as fast as you can. No one on that field right now can run as fast as you run. And but that's hindsight. That's coaching in hindsight.
03:19:02:15 - 03:19:11:05
And then panache was an interesting case because Finnell was a late bloomer in high school. So he sends tapes to various coaches.
03:19:11:06 - 03:19:12:07
Dave
And.
03:19:12:10 - 03:19:16:01
He got he got an offer from Quinnipiac.
03:19:16:03 - 03:19:20:01
Dave
And he was going to go to Quinnipiac and then and then what's his face.
03:19:20:06 - 03:19:25:27
Time brownie spot so we'll take him is second team all-American as a freshman.
03:19:25:29 - 03:19:29:02
Dave
And I asked him Bernie I said did know.
03:19:29:05 - 03:19:30:23
He was that good? He said, I knew he was good.
03:19:30:23 - 03:19:39:08
Dave
I didn't think he was that good. I mean, I think he was going to work out really well and be one of the greatest of all time. Right.
03:19:39:11 - 03:19:41:12
But to be second team all-American.
03:19:41:12 - 03:20:01:23
Dave
As a freshman that no one recruited is a rather it's a serious diamond in the rough moment. Yeah, that's like that's like the the who was the cowboys running back who was small came from Florida Hall of Famer not to miss Emmitt Smith. Yeah it's like I'm a Smith.
03:20:01:26 - 03:20:04:15
I was hoping Deuce Von.
03:20:04:18 - 03:20:06:10
Dave
Would have a good year. He's not the.
03:20:06:10 - 03:20:10:06
Cowboys five foot five inch 175.
03:20:10:06 - 03:20:13:23
Dave
Pound running back. I was watching the.
03:20:13:23 - 03:20:15:12
Marty
Coaching staff too.
03:20:15:14 - 03:20:21:06
Yeah, I was hoping because when he's out there, it looks like someone let their two year old out there.
03:20:21:06 - 03:20:22:25
Dave
Yeah, So.
03:20:22:27 - 03:20:28:22
What, what is that kid doing on the field. Right. And, and he had some great pre-season.
03:20:28:22 - 03:20:36:15
Dave
Running but then he, nothing showed up during the season so I don't know.
03:20:36:17 - 03:20:39:09
Marty
Dave about the P myself.
03:20:39:12 - 03:20:44:23
Dave
Okay. You know, you need a company, you want to be one of these the cup.
03:20:44:25 - 03:20:47:14
Marty
This one I tell big enough.
03:20:47:16 - 03:20:49:08
Dave
That.
03:20:49:10 - 03:20:53:11
If you're my age that's twice which to me.
03:20:53:14 - 03:20:57:25
Dave
One day I was drinking ginger ale and I piss in a cup and I drank the wrong cup.
03:20:57:28 - 03:20:59:02
Marty
During a lifetime.
03:20:59:05 - 03:21:00:29
Dave
That'll happen. Oh yeah, yeah.
03:21:00:29 - 03:21:02:19
Not not twice.
03:21:02:22 - 03:21:06:11
Dave
Not twice. I keep the cup separate.
03:21:06:13 - 03:21:17:09
Marty
This is why. Well, this conversation we never want. We were always reminded that you picking cup stirring upsets. But to where does this conversation started? Where it ended It's like know the world.
03:21:17:09 - 03:21:20:00
Dave
Unrelated four unrelated very.
03:21:20:02 - 03:21:27:01
Marty
But I think it's like a good reminder like this is what we need to get back to Just worrying about lacrosse. Worry about our families, worrying about all this shit like this.
03:21:27:03 - 03:21:36:14
Dave
That's exactly right. And, and, and I want to get on Rogan. Let's make it happen. It's my Holy Grail.
03:21:36:16 - 03:21:44:11
Marty
I'll make it happen. The mothership, literally. It's two blocks away from where I'm sitting right now. Rogan's Yeah, it's comedy.
03:21:44:14 - 03:21:46:28
Supposedly. My my resume is on his.
03:21:46:28 - 03:21:49:18
Dave
Talent scouts desk, but you, you know.
03:21:49:18 - 03:21:50:21
He should.
03:21:50:24 - 03:21:58:02
Dave
He should boot one of those, you know, octagon fighters or one of his comedian friends and make space for me.
03:21:58:04 - 03:21:58:15
Marty
I want to get.
03:21:58:15 - 03:22:01:10
Not someone telling me they could do it. Someone said they could make it.
03:22:01:10 - 03:22:04:22
Dave
Happen and they asked for a resume and it never happened.
03:22:04:22 - 03:22:06:04
I had some communication.
03:22:06:04 - 03:22:13:25
Dave
With them at one point via Twitter. Somehow we we linked on Twitter, but that's about as close.
03:22:13:25 - 03:22:19:03
To his star rose faster than my star. So this last time as.
03:22:19:06 - 03:22:20:06
Marty
Your star stories. Yeah.
03:22:20:06 - 03:22:22:14
Dave
Right, right, right, right.
03:22:22:17 - 03:22:26:16
Did you see that video of Rogan from 1991 I posted?
03:22:26:16 - 03:22:28:29
Marty
I saw you passive. I'm cannot abide.
03:22:29:01 - 03:22:30:07
It's creepy.
03:22:30:07 - 03:22:34:19
Dave
He also looks like he's baked out of his mind. Probably look so high to me.
03:22:34:21 - 03:22:37:21
He looks awful, but he also sounds totally different.
03:22:37:24 - 03:22:38:12
Marty
Yeah.
03:22:38:15 - 03:22:45:28
He sounds totally different. He's he's he's. He looks like he took too many punches.
03:22:46:00 - 03:22:49:23
Marty
Probably did. I mean, that's what they were talking about and that may.
03:22:49:26 - 03:22:53:06
Yeah, that was that was I watched that about three.
03:22:53:06 - 03:22:56:13
Dave
Times and in amazement that that was.
03:22:56:13 - 03:22:58:15
Rogan I used to watch his take when no.
03:22:58:15 - 03:23:02:24
Dave
Videos you would not want to get a back kick from him. He had.
03:23:02:24 - 03:23:03:04
A.
03:23:03:06 - 03:23:07:13
Dave
Deadly back kick which breaks ribs.
03:23:07:16 - 03:23:10:12
Marty
Breaks ribs, any type of kick from Joe Rogan. He's pretty.
03:23:10:12 - 03:23:13:18
Dave
Jacked. No, no. And and.
03:23:13:20 - 03:23:15:06
Yeah, there's one video of him where.
03:23:15:09 - 03:23:30:05
Dave
Where he totally knocks Guy called with a reverse turning kick and the semi semi reverse semi back kick and bam got flat as a pancake. Yeah sparring him.
03:23:30:07 - 03:23:31:14
I'd only spar him so.
03:23:31:14 - 03:23:35:28
Dave
That I can say I aspire to that I'd be in the ICU for who knows how like.
03:23:36:01 - 03:23:39:16
Marty
I'm going to go knock down the doors of the mothership and then.
03:23:39:19 - 03:23:41:19
Is he really two blocks away.
03:23:41:22 - 03:23:47:00
Marty
The comedy club is yeah. We're at six in Congress in Austin. It's it's on.
03:23:47:03 - 03:23:47:26
Dave
That's interesting.
03:23:47:29 - 03:23:57:15
It's on. So I did a podcast this week with the guy who does warm up for Dave Smith's act. Okay. Dave Smith's a fucking genius. Can you get Dave Smith on here?
03:23:57:17 - 03:24:03:06
Marty
I think I could, if I. I'd like to. I've reached out to me, doesn't respond to my DMS, but he's been he.
03:24:03:06 - 03:24:09:05
Doesn't respond to my DMS either. So why does he follow what what, why, why does he follow us and not respond to them?
03:24:09:07 - 03:24:15:10
Marty
I don't know. I don't know. Dave, if you're listening, Dave Smith would love to have you on the show.
03:24:15:12 - 03:24:19:21
Dave
And I highly recommend it. And you're my hero. Dave Smith.
03:24:19:23 - 03:24:34:23
Marty
He is. We actually just posted a clip. That was the thing with the stylist he just did a on his own show. Part of the problem he did like a good rant on the fact that it wasn't covered in the media at all. Let's you know that.
03:24:34:26 - 03:24:49:18
But there's no new information now that was really disappointing. You know, they showed the transcript and the Chicks are forgetting the names of all the guys who raped them. I'm going, No, you didn't. You just don't dare say it because you don't want to get capped.
03:24:49:20 - 03:24:53:18
Dave
Which I understand. I'm sympathetic to that.
03:24:53:20 - 03:24:57:12
So go take a piss. I'll go back to work.
03:24:57:14 - 03:25:03:10
Marty
I'm going to go take a piss. Knock out on the mothership. That's all we got today for this piece of live.
03:25:03:12 - 03:25:04:03
Why don't you get.
