Jason Hartman shares that US household income increased more in 2018, then analyzes the real median household income by the year, adjusted for inflation. Then, he interviews David Collum, who discloses that Facebook is just scraping data to sell to advertisers. Jason and David also talk about inflation and how the world is being run by corporatocracy and media.
Announcer 0:02
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Jason Hartman 0:53
Welcome to Episode 1652. And we have our guests Part Two today talking about the Year in Review. And this is important stuff because those who do not learn from history are doomed to repeat it. And I have bad news for you. Even though we’re gonna learn from history today, we’re still going to repeat it. But the good news is, the good news is folks that us household incomes increased more in 2018, than in the previous 20 years. combined. Did you hear that? I said combined. Yes. Why did us household income suddenly explode in 2018? After decades of tepid growth? The answer is not difficult to find. Now, here’s a tweet from AOC. Yes, that brilliant AOC, who could not be more clueless about Business Economics, or anything other than Marxism? So it she says dow soars but wages don’t inequality in a nutshell, hey, AOC, I’d love to be critical, but you’re actually right about that. Okay. So AOC actually was right about one thing. Amazing as it is, and why, why is that income inequality increasing? Well, you know what I’m gonna say, don’t you regular listeners, Richard can tell you my second favorite economists that can tell you in effect. And you dear listeners, at least most of you, who are following my plan, and have been listening to this show, you get to take advantage of the cantillon effect. Because you by following this plan that I’ve outlined, buying good quality income properties in linear markets, maybe a little bit hybrid ish, even heading over, you know, closer to the dark side, but still okay. And financing them with three decade long fixed rate debt at artificially and historically low interest rates are becoming a millionaire. Why? Because that puts you close to the money. You don’t have to work on Wall Street, you don’t have to be a bankster. You’re a can trillionaire just because of the way you have structured your investments, the way you have structured your finances by being a good income property investor. So Bureau of Labor Statistics, this basically I’m looking at a graph. I’m looking at a tweet actually, from the evil jack Dorsey’s company. Yes, jack Dorsey, anti liberty, jack Dorsey, you know, who looks like Charles Manson with his beard and all? You know, he’s not gonna win any awards for looking good as he ages. Is he? No, he’s not. He’s definitely not. I’m right about that. Okay, so from 2002 to 2015, adjusted for inflation, wages did not budge. No growth, zero, zilch, nada. Nothing, no growth. Okay. But in 2018, they surged more than it any other time by far in two decades. Wow. That’s an economic miracle. And if you if you’re an Austrian economics fan, you look at the business cycle. And you think, well, in 2016, when a new administration came in, we were long in the tooth in the growth cycle, and we should have had a recession. But we didn’t. The economic growth went on until COVID-19 84. And then it suddenly started growing again, right after a brief respite, there. It looks like this year, we’re gonna have pretty darn good growth. So all of those naysayers who say we are in a bubble, I don’t disagree that we are in the everything bubble. I just want you to know that for the record, okay. But we don’t know how big the bubble can keep blowing up. And there are, you know, I did a fantastic interview today that I will probably air next week with Steven Lee, Dr. Steven Liebe, who has written I think, nine books now, two great books on China and what to expect out of China. He’s a commodities bull. We talked all about construction materials and how the builders are facing such shortages and paying huge premiums. And you know what, look, for 18 years I’ve been teaching you about packaged commodities investing, assembled commodities investing. And as such, that’s what we’re talking about now, because these building materials have just become so expensive. Look, every economist will tell you about one indicator, one commodity that is sort of a special commodity. Well, what is that special commodity? It’s also referred to as a color. No, I don’t want to hear any racist stuff, because it’s nothing like that. It is. And it’s also referred to by a title, like a what would I want to say our college degree college degree title? I guess? Yeah. The degree title. And it is a doctor. What is this commodity? The doctor and the color? It’s Dr. Copper. Okay, copper is this sort of benchmark commodity that economists look at? And Dr. Copper is doing pretty well. And guess what is powering your devices in your home? copper, copper wire, that’s what’s in your walls. Okay. So that is very significant. Now, look at this real dollars real dollars, median income, median household income by year. Okay, so adjusted for inflation. Now, we know that inflation adjustments are subject to argument for sure, because they manipulate the CPI. It’s kind of arcane. Well, not kind of but a lot, and weighting, substitution, dhanak indexing. And I’ve taught you all about that before, but suffice it to say, real median household income, buy your you’re ready for the numbers, folks, here they are. If you are somewhere where you can write them down, you know, take notes, take notes, take notes. We’ll test you later. Okay, here you go. 1999 $62,600 2016. This is depressing. Wow, this is really depressing. depressing, depressing, depressing. It’s depressing. 2016. So here we go. 17 years, real dollar median household income is only $62,898. I mean, that is just disgusting. That is so depressing. I can’t even tell you. 2019 we went up significantly. $68,700. Wow, that is a giant increase. I mean, over $6,000 in three years in real dollar adjusted for inflation, income growth, a very nice raise, what I’m looking at American workers finally got a raise and a nice one at that, after a decade and a half of flat wages. Amazing what tax cuts can do? Yes, tax cuts, make the economy boom. But it is very uneven as we know. And technology and the winner take all society and regulation that protects big established industries and billionaires and oligarchs, tech oligarchs. It’s absolutely pathetic and disgusting. But, you know, there are some good signs in it. No, no question about it. And I won’t even bother to mention who was president during this time when real household income soared because, well, then, some of those really prejudice people will have a fit, because they’ll say, Oh, you can do this goes for Donald. He’s evil. All right. Well, guess what else do we have time for this? Do we have time for this next thing? Before we get to our guests today? Yeah, we might as well look, as real estate investors. I talked to you a lot about math, especially ratios. I say that ratios are the most important thing. They really are the most important thing. Yes, it’s the ratio. When you consider any statistic, what is the question you have to ask? Compared to what? So when you consider income, or GDP, or population or immigration, or the number of arrests or the crime statistics, or you know, police brutality or anything,
Jason Hartman 10:50
you need to always consider that on a per capita basis, because the per capita gives you the answer to the Jason Hartman question, which is compared to what? So that gives you the answer. And you always have to think in ratios. That’s why I talk about the RV ratio, the rent to value ratio, noting that it is not called the rent to what I paid for the property in 1999 ratio. It’s called the rent to value ratio, the value today, that’s what is important, but not in Oregon. Yes, the Oregon Department of Education is asking students to, in single quotes, show their work and have single quote, meaning snarky, right? In math class as a form of white supremacy. Yes, the concept of mathematics is now I guess, being considered subjectively, no, math is no longer an objective scientific thing. It’s, yeah, it’s racist. So there you go, folks. You know, you just can’t make this stuff up. I mean, listen, I guess I’ll say it this way, you know, most people would say one plus one equals two. But even I will be a little optimistic about it. in the information age, in the age when it’s amazing time and amazing time to be alive as I, I don’t say as much as I used to. Because I’m having my doubts, frankly. But in some ways, it is an amazing time to be alive, for sure. But here it is. Here is my fuzzy math, you’re ready for it. One plus one doesn’t always equal two. In the age of scalability, and amazing technology, one plus one could equal 11. Do you get it? It’s two ones next to each other. It’s not two, it’s 11. It’s so there you go. But that’s not what they’re talking about with these idiots in Oregon. Right? No, they, they came up with an 82 page instructional guide that lists all the ways in which white supremacy is perpetuated in math class. Wow. And this guide is called a pathway to equitable math instruction. Hmm. I’d love to hear your comments about this.
Go to Jason hartman.com. Slash ask and tell me why you think the Oregon Department of Education has it right or has it wrong? Yes. Last thing I’ll say on this. So the it says that this culture of supremacy infiltrates math classrooms, in everyday teacher actions. That’s what the guide reads, coupled with the beliefs that underlie these actions. They perpetuated harm to and they list you know, a bunch of various supposedly oppressed groups, right? Oh, yeah, I guess. Yeah. And it says, Oh, my gosh, look, look at this one. It says the guide offers a year long framework for deconstructing racism in mathematics. It calls it calls for verbalizing the toxic characteristics with respect to math. Now, I don’t know about you, but I think math is pretty much kind of just an objective scientific thing. But you know, science is no longer science. I mean, look at all the crazy stuff we hear out there. about this, that and the other thing, I mean, we’re in the middle of this whole surveys a sickness that is perpetuating the world. And, you know, the the absolute denial of alternative options and things like this the absolute denial of science, that there’s crazy rules that don’t even make any sense sometimes. I mean, some of them do make sense, to be fair, right on balance, but a lot of them just don’t make any sense. So science is no longer science. Science is politics. That’s what sciences today, so they ought to call it well, poly sigh is a major you can take in college, right? So we could call it poly science, but maybe we ought to call this one the different way we had to call it saya ticks. Actually, what’s a good name for this psychotics? Give me a name for this fake news. Oh, hey, she got it. Right. She says fake news. There you go. I love it. That was good with that one. We’ll leave it at that.
Okay. So Hey, folks, we have got check in with your investment counselors, for a bunch of different web classes we have nowadays and some just really good stuff, going on some good free resources out there for you. And, of course, an update on properties, and different opportunities to invest that we have for you as well. So check in with your investment counselors go to Jason hartman.com, or in the US, call us at one 800 Hartman, and let’s get to our guests. And let’s hear the rest of this year in review. And after this episode, I don’t think you could accuse us of looking at the world with rose colored glasses. No, you can’t. But the one piece of good news we definitely have is that housing is booming. And it looks like it will continue to boom for a good year, if not longer. So don’t wait to buy real estate, buy real estate. And then wait. That has always been very good advice. All right. Here we go back to our guest from Cornell University in the thick of the politically correct world. Cornell University, Dr. David column, here he is.
David Collum 17:29
They target me better sign up with a better more appropriate car than I would have gotten maybe. But it’s just it’s it’s their gigantic advertising budget several attacks on the system. I don’t need them scraping data to try to tell me what to buy because I know what to buy. I know what I mean.
Jason Hartman 17:48
Okay, so lest we complain too much. I know we got off on this track. But you know, what, what do you think is going to happen? I mean, what are your thoughts about inflation? You know, first of all, I we both agree it’s already here. But how much worse is it going to be?
David Collum 18:05
Well, so if you read some of the ancient archives and talks about the idea of inflating away debt, which appears to be the subplot that they’re doing, now, here’s the problem, the way you create inflation is through creating more debt. So if you guys, where did all this inflation come from? You recreated huge amounts of additional debt. So we’re not inflating away anything. We’re creating that that’s. And so I think the whole idea of inflating away debt might be a sanction.
Jason Hartman 18:36
Tell us about that. Because, you know, one of the strategies that I love using in with real estate investing is that you get these cheap 30 year fixed rate mortgages, you let the tenant pay the mortgage for you. And then inflation pays the debt off as well, which is a wonderful strategy. It seems to be what the US is trying to do to China meal, but is why do you say what do you mean when you’re you’re
David Collum 18:59
on the receiving end of your mortgage? Right on the receiving end real estate? is some other person’s not getting adequately compensated.
Jason Hartman 19:08
Right? Yeah, it transfers wealth from the lender to the borrower.
David Collum 19:13
And that’s right now, so if I’m a groomer with a 6040 portfolio or whatever, my 40 is returning nothing. And that returning nothing is is so that people who are at one point in history and something of value and call it capital, and I needed something I needed capital or that someone else needed capital, so you need the capital for your building. I have capital I lend it to you, you hope to turn the capital into some sort of wealth creation building your building, you build apartment complexes and then you rent them right that’s that’s that’s well crave. I am compensated for giving you access to my cabin, the Federal Reserve by by blanketing the earth and free money They’ve essentially rendered capital worthless. So why would you ever borrow from me, let’s say a fair fair rate, inflation 10%, I’d be charging you 12. Right. So let’s say inflation is 10%, I attribute that let’s say we’re both nuts and inflation is really two, I’d be charging you five, I can’t get 5% for my money, right? And so they’re taking my money there, they somehow rigged the system such that the lenders get nothing, which means therefore, pension funds are getting nothing, pensioners are getting nothing, and they’re going to send a sailing off a cliff because this was a bad one.
Jason Hartman 20:39
Oh, for the pensions, it has a very bad ending. And and when do we start to see that is that five years away? 10 years away? How far in the future is that? Because these pension plans, they can’t get any return on their money without taking inordinate risk? And same with any kind of like endowment or just anything?
David Collum 21:02
Well, I don’t know. It’s gonna be one of those things where I when it happens, it happens. I don’t know when it feels like we’re really nearing the game stop before and all that stuff and Bitcoin, all these things that are happening in investing, are investors reaching for you. They’re, they’re going away from lending money to major corporations and the mortgage backed security markets and things like that, and go into things where they can actually get a return this is a massive reach for you. And and it’ll end badly. Yeah, there’s a maximum says more people died, that reaching for yield than at the point of a gun. And so if you were if you were the junk bond market now, junk corporate junk bonds returns on like, 5%. That’s not that’s not a good deal, though, when those things are defaulting, which by the way, they are going to start defaulting because of all that the commercial real estate is going to go to hell because of the COVID, you know, shut down. At some point, the whole edifice just topples. And you say, well, the Fed is going to save us well, don’t be surprised if the fences now we’ll clean up the mess. And so they’ll step back and let the whole thing go and then say okay, but bring in the cleanup crew. Meanwhile, a lot of people are going to get hurt. That’s i saw i see surveys, what people are expecting the average investor, Joe sixpack investor thinks they’re going to get 15% or a top 1% of valuations in equities, I think we’re gonna get 15% we can’t even get a positive return on bonds, do you think they’re gonna get 15%? Us fidelity in the various pension funds are assuming seven and a half percent, they’re not going to get seven and a half percent either. If you listen to the smart guys, they’re saying, you know, next 10 years, maybe annualized negative 5%. So the system in some way, it’s just going to snap and the Fed, instead of letting controlled burns clear out the fuel and sober people up, we have a situation where the Fed has convinced everyone that there’s no risk now that you have your seatbelt and you can’t be hurt, you got airbags and the feds there, and you can’t be hurt. Stability breeds instability. That’s an old Maxim to well, the Fed is trying to create the air of stability and, and then when we have this mess, who’s gonna go hang the fed from the nearest tree? They’re gonna say, Oh, we didn’t see a comment. Greenspan said, Ah, we had an error in our model. Yeah, the error in your model was between your ears, you moron. And they don’t have a model. They’re just winging it. The question is, is how do column again know? Are they terrified? Or they arrogant, they think they can somehow pull this off, or they can canoe which by the way, they can do stories, Vegas, what actually he said, and I can’t is the smartest guys, you know, some bright guys. And they don’t know, they think it’s sort of a combination of arrogance and ignorance. And but they somehow think they can pull this off. And I don’t, I don’t think it’s even theoretically possible. That was off land. I just don’t know when we’re, we’re gonna have enough fuel in the tank in this flight, to make it to the crash site
Jason Hartman 24:07
to make it through the crash zone through the crash, like to the crash site, or to the crash
David Collum 24:12
after the crash.
Jason Hartman 24:14
Yeah. And this this disaster that you’re talking about is an inflationary?
David Collum 24:21
I don’t know that. I don’t know that I used to be all inflation. I really believe Bernanke said, a determined central banker can create inflation, I’m not positive they can now Now, if they really, really, really are desperate, and they say we are just going to send the printing presses worry until we get inflation, then they can get inflation, but they’re going to have to do it in the face of horrific data saying they’re making a mistake, you know, in Weimar Germany when they ended up you know, with, you know, 1000s of percent inflation. They just they went from, you know, one Deutsche Mark, becoming worth over 4 trillion Deutsche Marks later I did such ridiculous thing. They were so proud of their ability to print Deutsche Marks in the vibe, they thought it was good that the system’s demanding more money because it was inflationary. And they thought, well, then we should provide more money. And so it’s in this was an integrity this was this was in 20th century, they did not understand that the printing of the money was creating the inflation, how they could not notice that they didn’t, they were proud of their ability to print money, which I can stat Oh, we can print x.
Jason Hartman 25:31
And that’s what Bernanke he and whole German Germans are just proud that they’re being efficient, even if they’re efficiently wrong, right.
David Collum 25:39
I think the Germans are probably gonna be one early Western countries to recognize run the wrong path. They’ve been hurt by it too much. And so I think we’re likely to be one of the last ones right. By the way, during this crisis, there’s great stats of the United States. And China did not have any leverage China got through this crisis without any leverage. So guess what happened?
Jason Hartman 26:03
Now that’s interesting. But China overall, I mean, I, I worry about China. In the short term, I don’t worry about them in the long term, because they got a big demographic problem headed their way. So you, you push out 10 to 15 years, and I think China is not a contender, in terms of taking the number one spot from the US. Maybe before that they would but then then it’ll regress?
David Collum 26:29
No, but they could, they could be part of a cannibalization of us. Mm hmm. Right. So this could be one of these things where it’s like Walmart and Lowe’s battling each other. And there’s no one left on the battlefield to clean up the mess. And so
Jason Hartman 26:44
China, he probably meant to say Home Depot, I’m guessing Home Depot, here, but Walmart and Amazon, Home Depot and Lowe’s. Yeah.
David Collum 26:53
But it’s quite possible that they will be part of our demise without actually themselves winning either. I have no trouble with that. We’re just putting on too much debt. And history shows no one ever puts it. There’s only one example in the country that got way, way, way out of out of whack and picked up this much debt and grew their way out. That was Britain in the 19th century. They clawed their way up, but they were an empire, and they want to get a finished Empire. So I don’t see the wealth creation in this country that will pull us out of the statments
Jason Hartman 27:23
it’s interesting though, because it’s um, it’s so uneven right? There is a massive wealth concentration. And you know, like I said earlier, watch old TV shows watch old movies. And it’s it’s so interesting, like to watch say, Colombo, for example, which I think Colombo was a brilliant detective. And he always had his funny mannerisms and things. But you know, you watch Colombo or heart to heart or any old show and say Columbo is investigating like a wealthy person, right? in a in a crime, and he goes to their house, and that house is nothing compared to what you see wealthy people having today. And the kind of wealth nowadays is just like massive oligarchic wealth. It’s absolutely staggering. These, you know, tech billionaires, and, you know, we’re gonna see trillionaires in the not too distant future. I
David Collum 28:18
think there’s a brilliant book coming apart. I think it’s called bow Yeah,
Jason Hartman 28:23
yeah. Charles. Charles Murray. Yeah. He’s what he was one of the co authors of the bell curve,
David Collum 28:29
I think, exactly. So it became very contentious. But coming apart is brilliant. Experts say about how he talks about what’s changed over the last say, 17 years. And he went on to win the greatest generation was in charge. There was not a visual difference in well, so that it was not status to have a huge house. My dad was really pretty wealthy. And we had a probably a 2000 square foot house, you rent a construction company with 350 people employ right nowadays, he’d be living in it in some damn 6000 square foot mansion. We live in a 2000 square foot house, typical postwar kind of house and and standards to get into schools. We’re not so stratified. We’re all sorts of changes that have occurred and this growth in wealth status and class status and that can argue why we’re in such a mess now because now that now we have a culture war going on.
Jason Hartman 29:28
Well, that’s a good area to kind of switch gears to is the culture war. And I know we’ve got to wrap it up. But the the censorship, the gloves are off with what everything that happened in the election, nobody will deny anymore, that there is massive bias, massive censorship, and the world is being run by the corporatocracy and the tech companies and the corporatized media, and it’s absolutely disgusting. Can that pendulum ever swing back? You know, feel free to talk, you know, dive in what happened to Trump I thought was just absolutely insane. The way they vilified him.
David Collum 30:06
Even worse than vilifying Trump is no fake Trump voters. Right now the sound distinction. I am staggered by the number of people who are using a language that sure as hell sounds like 1930s, Germany and they’re talking about deprogramming us they’re talking, one of the prominent journalists made reference to cleansing the world of Trump supporters. Oh, yeah.
Jason Hartman 30:32
And another one made reference to drone strikes against supporters.
David Collum 30:37
And I saw these this is not just sore winners, right? These are not people who are not winning gracefully. They won the election. They’re saying things now they’re talking about things like, oh, here’s when Jewish privilege now they’re talking out there because because the wealthy are also highly popular with the Jews. If I were a Jew, I’d be gone. Scary rap. Yes, I’ve been down this path before I’ve seen how this one ends. And they’re doing this in the white privilege and that the whole narrative is so caustic, and it’s, it’s not coming from the right, it’s coming from the left.
Jason Hartman 31:16
And what’s interesting about that is the two groups who mentioned Jews and whites, many of them seem like willing victims in their own demise.
David Collum 31:26
I mean, not push back. Yeah. And the fact that we can’t You can’t even post an article on Twitter on Facebook without without risking getting kicked off the site. I got kicked off Twitter for a week because I criticized slouchier admittedly, off colorway but, but the narratives are getting squashed like bugs. I just tried to search something I showed my brother a video. And they said, Oh, it’s been deleted already, we’re looking for an all you find are our counter attacks against the narrative that that it made. So I think we’re in a horrible, horrible situation. And I don’t know if this is darkest before the dawn, and this will pass. Or if this is really the rise of authoritarianism. What I can tell you is there’s nothing in the data that suggests this is different than previous murderous authoritarian regimes. There’s nothing in the data that says, This is why this is just a fad. And this is why there’s a passing thought we are following the script perfectly to an authoritarian state.
Jason Hartman 32:36
And that is very scary. You know, David, over 20 years ago, I talked about how I didn’t I said, If I get to live my whole natural life, which I hope I do. I will see states secede from the union. Can the country stay together? Like this? Is there any, you know, Joe Biden and his his bullshit unity thing? But yeah, I mean, is there any coming together after all of this?
David Collum 33:03
I don’t know. But I’m not sure. I’m not. I’m not sure what’s the session. So
Jason Hartman 33:10
in, and I’m also not sure what it would even look like, like,
David Collum 33:14
on the Civil War, you have the state, you know, you have the slave versus free states. And so there was a natural dotted line wherever they, they wanted to draw it
Jason Hartman 33:24
right. Now, you don’t have that now.
David Collum 33:26
So I’ve been talking with people about bugout play. What’s a bug out of play? It was a friend of mine, Grant Williams said he was sitting at a table with a bunch of hedge fund managers, and every single one of them had a
Jason Hartman 33:36
bug out plan. Yeah. And he’s the interest rate guy. So grant Williams,
David Collum 33:40
yes, man, the bug out plan is where when things get bad, make a phone call, it kicks everything into gear, you drive to the airport to get on your jet and fly, you go. For Joe sixpack, that’s not a viable plan. But I have had a lot of discussions with people about what a more conservative budget plan would be. And one of them would be to say, where in the country as a conservative as a person who would be potentially targeted, where could they live where they would not be accessible. And, and the two criteria one would be population density low. Right. So you know, the Dakotas, Maine, you name it, and places where you might see you know, Trump’s borders and places like that. So if I moved to some small Hamlet, in Maine, I probably not get squashed like a bug. But, but if I’m in New York City, I’m a great race. So I got an email from a guy who’s a distressed asset investor who’s anonymous on Twitter, but he’s a prominent guy. And he said for the first time in his life, he feels unsafe because of his political views.
Jason Hartman 34:50
Yep. And that is that is a realistic statement. Sadly.
David Collum 34:55
Yeah, and I don’t know why. I it feels like it’s a left wing thing, but But it’s also possible I’m blind to the rights contribution here. I just don’t know why.
Jason Hartman 35:05
Yeah. And, and what’s interesting about it is you have the rich, the ultra Rich oligarchical left. And then you have the the people burning down Seattle and Portland and Philadelphia and Chicago and New York. And, you know, virtually every other major city, Minneapolis, don’t forget that one can OSHA as well. I mean, how do these groups get together? Why are they
David Collum 35:31
the latter on somebody’s payroll? So I think the MT four model, it’s actually paid sort of brown shirt equivalence. And so I’m not convinced. I’m not convinced the sort of super rich left wing enemy models quite right. I actually think there’s the we’re not being sort of steered by Silicon Valley, because there are a bunch of rich left wing guys who have these views. I think it’s deeper and darker than that. And I think this is about some globalist view and what they’re trying to achieve. And I’ve talked to people about what that could be right? You’ve heard about the great reset. Does anyone have a clue what that really means? But one of the theories is that people in positions of power have a global overview. And they say, look, we are running out of resources. And and we have to somehow dial back everyone’s expectations. And this is how we’re going to do. This is the big sort of grand conspiracy theory. The other is, you know, it’s up to the opposition to the United States, which are certainly plenty of detractors, right. We have we have allies who would turn on us, I think, pretty fast. They have to and, and the question is, I tried to dethrone the dominance of the United States, I presume you’ve seen that World Economic Forum advertisement. Of course, they talk about how the US is not going to be the superpower and you’re not going to own anything, you’re going to rent everything in a bow, you’re going to be happy, but you’re going to be happy, and I go rent from bone from close
Jason Hartman 37:05
from
David Collum 37:08
step three bucks. I’m in the middle of this first. Yeah, I
Jason Hartman 37:12
just finished his Industrial Revolution book. You know,
David Collum 37:18
2015 book. Yeah, that’s what I’m yeah,
Jason Hartman 37:20
that’s older. I know. I know. It seems like it’s a lot of words, but he doesn’t really say anything very
David Collum 37:26
significant. Town Hall. Reset sounds like platitudes don’t feel like hollow. And so the question is, what is it could be the crowning the dollar couldn’t be, I’ve become increasingly aware of the possibility that much of what we’re observing is coming from China and you’re not seeing the connection. Even if there is, for example, if you want to see who’s probably not guilty, look at whoever’s being blamed there. Probably. The Russians are getting clobbered. I think Putin is simply trying to hold together third world country from falling into its foundations. And there’s no doubt he’s a rough guy, but I don’t want to keep Russia from imploding. China. On the other hand, there’s some very strange videos coming out of China, Wang Ji Jin pings right here, man talking about how they control the US politics completely. And how Trump disrupted that now. Now they’re okay, again, you know, why? Why would he say that in a public forum? Right? And the answer, would you get the answer that you understand what the point is? So I think, I think over time, we’re going to trace a lot more back to mainland China than we realize I think that’s gonna be true.
Jason Hartman 38:37
Very interesting. David, I I could talk to you for a long, long time about all this stuff. But do give out any resource or website you want to share and wrap it up for us with any just any closing thoughts on any part of your urine review?
David Collum 38:54
Um, well, you can you can reach me on Twitter for the time being it’s pretty easy as long as you’re still there. Yes. David B column, my emails easily access to my Twitter bio or anywhere else to search David, calm Cornell chemistry. It’ll be there. I’m not hard got, I gotta find overarching view, I worry about social change. I think we’re in the middle of something so bleak, and worried you got to pull out of it, or we’re gonna push through it pushing through, it’s gonna be painful. You know, I
Jason Hartman 39:29
hate to bring you on another tangent, because I know we got to wrap up. But just on that, you know, if anybody was sitting in the 60s, and they were sort of an older person or an establishment person, if you will, and they were watching Woodstock. They were watching Vietnam War protests. They were watching all the crazy stuff that went on in the 60s and early 70s. You know, they would have thought maybe they could have thought, okay, I don’t know what they thought but, you know, maybe they could have thought oh my god, the country is ripping apart. This a disaster will never recover from this. Are we thinking that now? Do these young people that are just way off on the wrong track that are destroying these cities that are just brainwashed by these educational institutions? Do they grow out of it like the baby boomers did? Or is this different?
David Collum 40:20
Well, if there is a difference, I think back then and I was a kid, so I wouldn’t have known but I suspect back then that at no point did did the adults question the sort of the the integrity of the system, meaning they didn’t think that the system itself was going to collapse? So we’re watching the kids and those worthless pot smoking, you know, hippies, hippies are problem the world’s gonna fall apart when they become in charge. The problem now is these crazy crazy ideas are absolutely already infiltrating the adult world. And so various institutions are bringing in various cockeyed theories about how to engineer social change inside the companies. It’s not just crazy campus behavior. Now. It is it is invaded the corporate boardroom.
Jason Hartman 41:10
Yeah, it really has you saw that with you know what happened after George Floyd and all this crazy craziness. Yeah, it’s it is.
David Collum 41:19
It’s not just the kids. Yeah, not just a, it is also not just a weak subgroup of society in which in which the people who are in power, there’s no doubt they’re going to retain their power. For me. It’s not that I think everything we have now should be retained. Right. I think change is important. But but it feels like it could rip apart at the seams at the most fundamental upper levels. Right. We’ve got a deal of who’s in Congress. I there’s some scary people there.
Jason Hartman 41:51
Oh, yeah. Yeah, no question about it. It’s like we it’s like we have a whole new version of McCarthyism, with this censorship and, you know, putting putting Trump supporters on lists, and it’s it’s just scary stuff.
David Collum 42:06
But Jonathan Turley is the guy he ought to be reading.
Jason Hartman 42:11
I mean, Steve Turley.
David Collum 42:12
Now Jonathan, the George Washington University, constitutional scholar, who isn’t the level of potential Supreme Court nominee, although less the republicans get reelected, he won’t get it. And he said, he said, He’s, this is the most dangerous assault on free speech in history. Yeah, right now,
Jason Hartman 42:33
I would agree with that. And a lot of people should be very, very concerned, including those who are benefiting from it. Because guess what, your next guess what they better?
David Collum 42:46
No, good point. Email or mom or dad.
Jason Hartman 42:49
David, thank you so much. You’ve got such great insights. We always appreciate having you on and keep the faith and keep in touch.
David Collum 42:57
Okay, I’ll try.
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