The podcast goes at Andrew Cuomo hammer and tong as the whistle is blown by a fellow Democrat in New York state on his handling of the coronavirus. But that's not all! What about Trump and Kevin McCarthy? What about Nancy Pelosi's enemies list? What about hedge fund guys yelling on TV about people who have no right to invest the way they invest? Give a listen.
This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Welcome to the Commentary Magazine Daily podcast today is rather January. Twenty nine twenty twenty one, and I'm John POD words the editor of commentary with me. As always, Signor Ripley, Christine Rosen High, Christine deputy better a Ringwald high Abe, John and us. see it editor nor Rossman high Noah. I job so in New York State, where I live and were able lives, are self saint of Governor Andrew Cromwell,
it's just been dealt one of the most savage blows. Any sitting politician has ever been dealt by a report, from the attorney general of the state of New York Office, the attorney general is of Brooklyn politician in Latisha James. The report was on the conduct of nursing homes in the handling of the covert nineteen pandemic and what was found and in this report or along the way in a finding that was I particularly highlighted by the report, because Tis James, a Democrat Cuomo as a democrat Chrome is, of course, an uncommonly vindictive, a Democrat who is happy to go to war with people and his party whom he doesn't like, and so a Tis James is playing with fire
her here, but apparently her investigators uncovered the fact that the the death toll from nursing homes- science, which was already terrifyingly high and the subject of much discussion over the course of twenty twenty was in fact under countered by as much as fifty five percent, meaning that the March twins, you have twenty twenty order from the States Health Department that sad, let back into nursing homes, people who had been hospitalized afore, Cove id. So basically, so we can clear up the HA hospital beds. It might be needed in case there's an overflow. You must let them back in
the guidance, doesnt didn't doesnt, actually explicitly say you must let them back again, but it's basically says let them back in, and there was, of course, a financial incentive for these nursing homes to do so because their their paid by the patient, the The death toll from nursing homes, maybe fifty five percent higher than was originally reported, force the entirety of the Cuomo sale effort was this idea that he had Dunham com? We complement job at handling it communicating about it, dealing with it and, in fact what seems clear now between the lines of the report is that term. They understood very quickly they had made a colossal epic blunder and attempted to cover it up by
creating this fiction that these states health, Commissioner, Howard, Doggie, Hauser, Zocor, Howard, sucker, being the model for Dougie Hauser. he says. Well, you know what here's the thing like we haven't. We didn't under understate the nuts of people overall in the state who died from covered nineteen, we who are just counting people who died in nursing homes at the nursing home as having died in nursing homes and not counting the ones who been transported from nursing homes to hospital those having died at nursing I was only that they died in hospitals, so they didn't commit misrepresent the overall number and then the health department that he runs yesterday afternoon, then just so
like played a little game with its numbers and increase the number of people who had been said to have died in nursing homes by forty eight hundred, so any form, of course, published a book called american crisis a couple of months ago about how fantastically he had handled the nursing home crisis and in the course of this book there is a section in which he says the following: an paraphrasing Republicans decided they wanted to do misdirection from trumps mishandling of the virus, and so they decided to blame demo rather governors at this and end and then actually mention the new approach. The paper I write for em, my colleague, Michael Goodwin, as somehow having taken direction from the Republican Party to Mr Rack, the public's ire
and he says actually this was despicable. Imagine that your somebody, who's, mother or father has died. You know in a nursing, home and you're wondering if you should have done more and your being told to blame a politician. How despicable is that? Well, as I said at the end of my column today, you want despicable, look in the mirror, homo. I people right people's work left has all the time. It's always a mistake, but term this is up. A really startling revelation of a kind. It was bad enough when we thought that six thousand people have died in nursing homes, not the ten thousand people died, nursing
there's something else here that unites. Remember the mainstream media absolutely having a field day with Donald Trump and his administration for trying to boast about his his inauguration numbers, and it was ridiculous. Obviously you know he was doing it for his ego and he was this story for weeks, and it still brought up sometimes about as an example of trumps narcissism. Ok, that's fine! we were talking about a moment in the pandemic, where information sharing about what strategies were working on what strategies were not working would have been hugely helpful to other people in other states of the fact that they pretty quickly noticed this death increase and just trying to hide it is extremely bad as an ethical and moral position to take and at the same time, the main stream media. You know which was with treated Cuomo with kid gloves
As you said, then elevated didn T Mean nominated Saint, or was it the same Russell anywhere? Yes, let us live in winter, special everyone especial I'm. You enter at the same time, which attacking a governor whose policy towards nursing homes in Florida, Rhonda Centres in Florida was extremely effective at protecting that vulnerable population and he was marked forty. They were, they were sort of making fun of him for preventing people, from visiting nursing homes owe their denying this. You know human contact that they need at. It There is to me a real, not only a pandemic should we shall be on the same page, trying to save many lives as possible,
Then he was trying to hide his mistake. While, while endorsing this idea that the people who were doing right were somehow morally culpable junk, correct me if I'm wrong, but the report as it is, my understanding of it is doesn't allege exactly that. The cover up was deliberately deceptive right, but you can infer from it from it does not get to. It offers no opinion about why there is a discrepancy in the numbers. It merely says that they did a survey of sixty two nursing homes. found in almost every case, some under count of the number of people who had been resident in nursing homes who ended up dying from covered either at the pressing home, we're having been transported to a hospital where, where they died,
Extrapolating from that sixty two to the six hundred some nursing homes in the state. They came up with this undercurrent of around fifty four percent, how it happened, why it happened when it happen, very little is said. The report is written in a very slightly unclear manner. Clearly, Tis James is uncomfortable or her people are uncomfortable with the fact that they are, you know they. They found something that is critical to create a political controversy with The politician who, next to Donald Trump, is the single most vindictive politician in the United States and an end. The ugliest end, in terms of his almost infinite capacity, to hold a grudge and take revenge
she has put herself on the wine here. She is not anybody that I particularly respect. I choose right the report, so I don't think we can. You know we can presume that She is the full author she cats. Couched is my point. We it's up to us to try to make sense out of this. I would say so and that's what That's what you have to do here, how? How is there an undercurrent of this size? Allison had run at the sight of controversy when, in fact, news reports as as early as August, worked were were zeroing and on the fact that this march, twenty fifth order to send patients back from emergency rooms, sick with covered two nursing homes, are clear beds up, had had
a deleterious effect on the nursing on sorry. It's far earlier than August we arrive I was writing about it for our website and nay, this was known you didn't have to consumer rightwing media. To know about this sort of thing. There was quite obviously the directive had this effect because it was producing the bodies that we knew about the thousands of bodies that we knew about. It was a pro public investing. Ocean in May that sound officials in Albany had seized communications with New York, see Department of health officials. They were not providing them with case counts. They didn't tell them how many beds are available in the state in the bend later counts on the March twenty fifth directive has been scrutinised by August was thoroughly scrutinised. I read for this reason the subjects in July in April, so it was pretty well known. It point beyond that, there was the subway issue worthy. You know he went need that this ban
then closing down the subways are closing down twenty four hour operations on April thirtieth, which was a month after a working paper at MIT, had blamed the subways for the conspiracy The spread of the virus with a New York City and the excess deaf totals which, again there were some investigation from local news outlets, the extent to which Albany had directed people to stay home, don't go the hospital in open until it oh sure, but whenever you stay out of a hospital room and the result was a series of of excess, that's attributable meant to cover but the conditions around covered. All of this was investigated rather thoroughly, so it makes them The press was complicit in this deliberately complicit in up to and including in today's target of everyone's antipathy and mockery. CNN crystallized, who published last night in article headlines quote Andrew Promos covert. Nineteen performance may have been less stellar than it seemed
I happened, data January twenty Eightth, twenty twenty one- I mean it's laughable, inexcusable, but there's a complicity the part of the media here to create a narrative around this guy, which you set a million times in its undeniable at this point that it served to create a foil that contrasted favourably with Donald Trump storytelling device, but a blood soaked one will what they don't need, an anti drop anymore. That's that's! That's one thing that that may not be there to tell them out. I mean look at this: The fact of the matter is that the Cuomo Cuomo as the anti Trump was a useful play and he can self saw it as a useful play and then, as is true of every con man shyster and charlatan in the course of his car Mallory
began to believe his own bullshit and started acting ass, though he were the saviour. of America rather than the person who presided over the worst, the state that had the worst death toll for. The corona virus, whose admittedly very complicated decision making, And I say my peace today than we were opposed to know their, but for the gray God go anyone he found himself in the middle of a a horrible set of Hobson's choices, That's already is what is important is very important to be charitable in when we're look, back on March, rankers enlarge in mind. May vegetal hundred narrative in places like Florida and places like Georgia that were pilloried by the press means one thing for them:
after job is one line was another thing for everybody in the media to start playing invisible instruments along with him right wherever there are two things going on so in March you have, the virus is, is running rampant in New York City You have this fear that the healthcare system is gonna, be overwhelmed. There aren't enough hospital beds, their setting up the Javert Centre, the conventions and of New York City as possible overflow hospital they're, bringing the boat up from Norfolk to serve as a floating hospital there. Looking at building a tent hospital in central park to be an overflow hospital, there's a terror that we don't have enough. Ventilators, though it turned out that ventilators were among the were inadvertent.
Or as a people with covered, not not saviours of people with covered, and all of this is going on, and there is this fear that there could be no hospital beds and Como has to make a decision, which is, I think, basically, everybody who was in the hospital with covered, who was seems to be getting better too needs to be sent back where they came from. So we can keep. here, the bad okay. So it makes us decision he's not looking to kill anybody he's not looking to make people sick, nursing homes, all of that he had to make a choice and he made it, and that is where the charitable interpretation has to come in where it gets ugly. It's not just what Noah said, which is that then people go at other states that pursued other measures, but that he knew they knew I'm sure they knew very quickly that this decision had had a Dirac d, latarius and horrifying consequence, and rather than
being sadder but wiser, reversing field, letting it I'll hang out about what happened in saying. You know we had to make these choices. He double down on his own virtue and double down on attacking people who did not make them Take that he may why he is going to go to Hell gonna go to hell because he killed anybody. I mean he allowed knowingly. It appears allowed this false story to be promulgated, to enhance its own reputation and to attack the reputation mothers who did right when he did wrong, so they and their in theirs. That there's an interesting moment in the cycle of Cuomo Self regulation. With regard to cover that we forget in that's in July. When he issued his artwork, the poster about climbing the covert mountain which included
acknowledgements is follow. The fact this was written includes inside and you know, boyfriend cliff and all the others have driven ethically missing from anything in that climbing the covered mountain was a single elderly person, single Elderslie resident New York. They were nowhere to be found in his self congratulatory scheme. At that point they did it Sir John. They knew that this policy had more and yet they were Declaring to follow the facts, we knew factually that there were other, is to do things that would save lives. He didn't he chose To do that, and so I dont yes, there is all these morally bad decisions that were made once they had the facts and fry them, but it's the cycle Congratulations that that was really didn't you. Not just a noise people like us, but in this case it was it so deeply reprehensible, given the people's lives were risk, while he was in a kind of trying to find a way to elevate is political profile and also, you know, do good jobs point this cuts to the heart of what Como build him.
health upon, as, as you said, you, anyone can make She early on the wrong decision in this in this crisis. what is Cuomo getting Emmy for what is comas great source of pride over over the course of his of the vision? It said, he's this great communicator that he levels with the people. That is there to tell them to keep them up on things that are happening. So is easy. it's not you know out of control and that you know he heap. He violated that that very trust between himself and the citizens, by covering up this very important fact bright, and and not only will history judge him harshly, but I think we are just at the beginning of the meltdown of his reputation, That's that's where I would that's where I would go with this and what I would advise. There's a real
maybe a hurdle there and it's the chrysalis a problem. One's going to want to review their performance over the course of twenty twenty and though the cover they gave a sky the fatuous coverage he was, he was given the soft coverage and that the soil that they created for him there is an investment in his personality cult, a personality around him on the part of members of the press that there, unless they have some sort of an off ramp from people like us. in the form of an amnesty. You can never forgiven for you for your past pastor. You know efforts to love this guy and create a personality around him. But the I don't know I don't want anybody can be willing to engage in that market Cuomo is a. U was a uniquely ill suited figure to playing to being this, you know hero with the white hat. He is
very complicated political player. He is a very effective political player. He is also a monster. He is a very ugly, very personal, very vindictive, very hostile, incredibly aggressive, there's a reason that he and Trump went toe to toe they have much in common in terms of their personalities and their approach. It is all naked. Aggression and and people who have dealt with him who dealt with him overtime, who have reported on em. who have worked with them. They all know who he is, and he somehow transcended that, because the country wanted a hero, but the heroism was false, not only for policy reasons that we ve got into that. Don't just deal with a nursing home issue, but his inconstancy in dealing with court clothings. Enough things and locked downs and various other things. A perfect,
he's a goon and a and a and a jerk and an ass, but he does many things very well he's a builder we're good we're getting a new Laguardia Airport will be done next year. It's kind of never said he built a new Tappans, a bridge necessary replacement for budget was collapsing. He got it done. He gets things done. He is a very strong and effective political player, but he is a very complicated person and being a a straight talking hero rather than an impressive. back room, I'm going to kill you and kill your family. If you don't do what I want you to do player, which is what he is, that does not fit him and how he continues to wear that mantle without his brother, whom I like
his brother Chris, playing his blocking tackle and his brothers network serving as his pr firm, which they're gonna not do any more. I d really now. So, basically, he sounds like he's he's dying Corleone, name any practices, politics, but he wants to be thought of as Michael Corleone going legit right, like you just see, doesnt he's bow with an amateur, Also the young the whole issue of his relationship with his father's political legacy. That is it. A book in itself, but you know what I mean he's Don Corleone II. On the one hand I mean he's look a browser on the one hand and he's K courtly only on the other that he wants to be K. Courtly all evil, in fact, is look a browser that no no it's not liking by the winners are liking. Our godfather references frowning at I don't even know. I just thought of aims as Jani.
The study was a bad dawn. Remember that journey was a bet on he's, not a bad dawn, but it's what you're looking for is to get a subway finished or to build a bridge or to build a word. I get a train hauled on or to get. This state is going to have profited from his being governor without question, but as a human being he's garbage and as a as a hero leader, we were handed a bill of goods here that we're gonna have to unravel and is going to be unravelled for him, as we are talking about covered and the history of covered.
the record of covered. Now that I want to remind you guys to go. Do the Itunes store to go to stitch of ago? Who will play and download dancing moors, podcast Post Corona, the only Pakistan a dedicated to this question of how society and America are going to look an act and behave and do business in the wake of the virus? stands. New guest having following Neil Ferguson and read, hence alarm and various other people is Scott Godly. Above of away, I, who was head of the food and Drug Administration, Scott. Of course, one of the men quoted and most noted public common
painters on uncovered, and he has a lot of very interesting things to say on this podcast among them that what we think is gonna go on with this question of how Amy vaccine doses, they're gonna be available to people. It will look through the wrong end of the telescope, that the supply chain may not be the problem. It actually maybe a demand side problem that they'll be might be more than enough to go around in part because there is going to be real resistance in taking it. Obviously, with the latest news about the less effective, potency of the Johnson and Johnson vaccine, which is yet to come to market but witches, but which is, then imported on as not being as effective as Madeira and Pfizer. This has now been a raise other questions about that, so that
one thing it goes into, and then he also goes into the interesting question of what are the national security implications of what the world has discovered about the world's largest economy and what and how it can be. Interrupted and screwed around with by a pathogen or a contagion, and what what we need to defend against going forward to that Scott Gottlieb on the post, Corona podcast with Dan seen or go download. It go, listen to it. It will enlighten you with Rachel will frighten you. It will inspire you, and it really is a must: listen in your podcast library, so moving on
from people who are somehow weirdly, correcting the record without correcting record, not the Cuomo, Empowered Sucker corrected the record that was corrected for them. Christine pointed out this morning a an interesting article, all about how boy there's been a lot of misinformation about covered in schools and how dangerous covert is, and all that and people with the need to stop so that schools can open cause. It's really been terribly bad and this article is by whom Christine and where is it published, with apologies in advance for the jack hammering going on there. My house next or city living there Thomson and frantic and the Atlantic is, as our listener snow and as Noah has done extremely good work, pointing out every time they go into hysterics about covert, which was often, spend one of the leading magazines to kind of keep the fear. The fear
hungering about covered on high as high as possible, particularly they if they ve, also done this. The schools are now, as we see a kind of change in public mood about the schools room, in close and which, of course, does tie into the changed administration they ve come out with. This piece is loud, Look at all of this accumulated evidence, much of which we had four mountains that clearly shows that this is bad particular for elementary school children and we ve got to follow the science and he he caught a very gently blames the media was only another. His taking some responsible on the part of his own profession, and petitions for for not giving us a clear path. There is very little to say about the one group that we all know to be extremely defiant in the face of the facts about covered and schools, and that's the teachers, unions, but it was interesting to meet that signals to me a broader shift in mainstream media perceptions about how for handling the virus in schools, is a good sign. Look, I'm I'm
and I told you so person in this case. I very much welcome to the full none of been saying this for a while. It's a good sign, but I do think that the sir giving themselves a little slap on the risk might be a little too gentle, given particular about schools. The kind of fearmongering and kowtowing to the teachers since it was seen in the mainstream media for almost a year now, I think, you're being too generous, peace ends with they left. The media went too far, but I think it the unquestionable than the world of the elite media, not television and not sort of like newspapers, with six zero million subscribers, but in the world of elite media the place to turn for your covered. The world is ending porn has been the Atlantic, where Derek Thomson is a senior contribute, I believe, an editor who was it a mandible who wrote that peace in Georgia is experimenting with mass murder. Just to refer back to
you're right. It happens you her well with governor versus the evil governor who isn't locking down enough Edward dead wrong, various other writers who have who have promulgated eight, who have been the chicken levels of Colville, not just because, obviously we need to take this. Pandemic with deadly seriousness, but with this notion that basically our civilization needed to fold itself up put itself. In it in a jail cell and stay there. You know until the last of the, Ass strand of MRI may was healed, but also as the as they peaceably. Let indicates they were chicken levels as a kind of response to Donald Trump. I mean because as a battle, I think it's an insufficient explanation.
I think it's it's. A poor justification is what they really talking about is the kind of trumped arrangement syndrome, I mean the way into anything that you know came out of the White House that would, that was positive, were less than apocalyptic, had to be countered, end and jumped on buried. I've been kind of obsessive about that, so like their targets over there, the dirt do deserve to be pilloried Dirt Thomson, maybe not one of them, he's been skeptical where scepticism is due, for example, about covert theatre hygiene theatre. He was one of the first to come out and demonstrate. Why does the apteryx around this kind of noxious people like Amanda Malta? do deserve to be singled out because, when their not being maximum list about covered in my favor piece of hers was you know,
This doesn't make any sense. The logic of pandemic restrictions make no sense when you can go even restaurant, but you can't go even arrest, or rather you can go eat and restaurant, but you can't have thanksgiving with your family that doesn't make any sense. What would make sense is that you shouldn't go any in the restaurant either, but there and she turns around and says man the psychological melodies associated with lockdown or just crippling and terrifying. None of us can have interpersonal relationships anymore and what are the long term implications of this from but work? We have we seen plan. other outlets. Doing the precise same thing, the new push is going to be around mutated strains. We don't know the extent to which they are a candy blocked by the same proteins at around the MRI Marinade proteins that are in them again a vaccine and Pfizer vaccine no some hours, maybe some aren't there. This brazilian strain is kind of clarifying the south Africans drain. Lady, maybe not there's gonna, be a stream
Zimbabwe. Who knows? It's all gonna, be you know, ad hoc, as we go forward and ass in the Washington Post today, I mean so it's not it's not as though we can single out the Atlantic and say, if only we could. You know drug you have dinner mode around this place. There will be some now a rational discussion around this. Rational discussion is what's desired, its goalposts moving in service to favoured constituencies, I am able to Europe, but in relation to the trumped arrangements syndrome, game. This is where the rubber is gonna meet the road as we go for we'll see how much the disaster porn A survives, the needs and political wants of the new administration and the new consensus because particularly with the signs that will get to it. A bit that you now Donald Trumpet his influence on the Republican Party and the republican parties general direction
the debt- and none of that is going away- the implicit idea in the mainstream media that term Biden. It is not only life saving but democracy, saving for binding to be as successful as he can possibly be and have an easy time as it can possibly have, because there there is. There is trumpet, there's Marjorie Taylor, Green and there at gates and there's listen. There's that coming you know they are ready and still powerful and still ready to take the reins of power again preacher doom and disaster at horror rather than optimism, and the sense that we can get our we can get through this should be done with it and have huge economic growth and a great time the the incentives to go ass, dark ass possible.
May not are not what they were and, and although the of the world of medical medical lies, horror is, of course, an old staple, though I you know it's a it's: it's the cells, newspapers to talk about their, so you know avoiding at her evading at her board or downplaying. It may be something that's hard for hard for the new sources to to do, but I think it's pretty clear over the last week that the buyer- People already decided that they overplayed there. Oh boy, everything is who it's gonna be dark out there and them where a sovereign, clean, the White House, you flip on his oh teacher. You know everything needs to be done to make teachers feel safe back to we gotta get those schools open again,
Having said that, today, we are not talking about Fouche, I'm talking, I ain't punted the question he didn't dare flip. What he said was that we really can encourage localities to do like he totally punted heats the scientific facts. Are you saying that the hundred day opening faces is most likely not gonna happen? There will be circumstances that will intervene name. We, in my view these The narrative around strains new strains, but something old, Spain, something something will intervene. The dissemination is far more committed to its constituencies than these sites capital when it becomes clear the pessimistic outlook is retarding the name nationwide celebration of the change of power, which is gonna, happen, over the course of the next couple of weeks, I believe you're gonna, going to see a flip in town,
There is also something else there doing, and I just just from personal experience here in Washington DC. What we're seeing is schools are doing things like hiring proctors invite were. Finally there there are announcing induce. You were reopening. Our schools know they're, not what they're doing his hiring non unionized people to come in and watch the kids continue to do remote learning And they're gonna call that a school reopening, because cohorts of ten or eleven students can sit in a classroom without a life teacher. For three hours and then go with mass sun and then go home and they're gonna call that school that's out school and also the people sending their kids in which include maybe to try it just to get them out of the house because they want to be among other kids. Their age are the most vulnerable populations at the schools need to be reaching. Now. Those guys are still stuck at home and many of them have not been logging in four months, so that you'll see that's funny school reopening. It is not school reopening junk, just it to back above two piggybacking. Your point here about it. You know: what's retarding the national celebration
I think the things that were still inserted phase one of this celebration, which requires us to four it's on the digging out and the and fixing of disaster that was bequeathed. You know So you were closed. The doom and gloom still is, is certainly useful purpose battered that will be sort of phased out. There is a level of timidity, though, on the part of people who want to take issue with these covered restrictions is particularly around schools that some at distinct disadvantage and just as an example here, it has picked up and went to my mailbox this morning and picked up this free local paper that I get for. My town serves like my town and couplet towns, overly minor paper, no led story, his parents petition to reopen schools and MRS Petition with snow Hundred signatures so far, came to reopen and really reopen them. Five days a week in person, education until three p m,
what we have now, which is hybrid ized until one p m, which makes very little sense, but I just glancing at the storing them down to it. And when I talk about the survey, they were quoting quote a spokesman for the group who declined to be named a spokesman for the group declined to be named. I've never heard of such a thing. I've never heard of a spokesman who is speaking of it. killing for an organization and an initiative on background. Well why and why, because of the fear of consequences, but I've been there, I don't. I don't begrudge people worried about that in this current atmosphere. where a teachers union could come after you. Nor were now it's it's a very it's a very serious issue in another place, another place that you can go to find out.
All. This is gonna play out our friends at the bond, some group David Bonds, and then Two point: six billion dollar money undermine it: one: twenty seven professionals by coastal, taking care of their clients, their money and their investments. With a unique, an unparalleled understanding of the interplay between markets and the economy and the stock market and the bond market and new play errors in Washington with becoming the buyer ministration the role that their old roles are gonna play as JANET Yellin moves from having been ahead of the FED to running the Treasury department. This week in particular,
I found it very illuminating to read David Bonds and DC today: dot com, one of the two moose letters that has produced by bond some group, including dividend. Cafe outcome the Dc. Today the outcome was talking about this whole game. Stop Robin Hood, the the thief. The fearless option purchasing system the role of read it and this whole kind of crowd sourced hedge fund behaviour and what it might mean going forward that that I found fascinating. That comes in your mailbox every day. If you subscribe So the busy today that come- and I guess later today are the weekly dividend. Cafe outcome will come out and provide more
formation and guidance on that score, as well as David's, unique fact, based, look at covered and the role of the government, plays in the laying out of covert policies, particularly in his home state of California, where he has been systematically exposing the misconduct of the new administration and localities in the handling of this. So please, the DC today that CALM dividend cafe dot com, the bond some group your antidote to the intellectual spaghetti of the financial services industry, give them a look pick it up illuminate yourself with it ok so house, when our leader, Kevin Mccarthy, went and kissed the ring of Donald Trump yesterday in Palm Beach.
apparently agreed jointly. The trump was going to help Republicans win the house in the Senate, back in twenty twenty two There was a picture of them standing. You know in the hall of mirrors that Versailles and and meanwhile and Kevin Mccarthy, of course, earlier that the week had issue day have had a meeting the backdoor meaning or of the phone or whatever, with his caucus, saying, stop attacking each other. Let's attack the Democrats and then, of course, while he was meeting with Donald Trump Matt Gates and Donald Trump Junior, both gates in person and don't from junior avert William over the phone staged, a rally to attack Liz Cheney for her perfidy in supporting impeachment
so. This is all going going going really great. Meanwhile, we hear from the capital police You know to sometimes when crises happen and they, the after reports on crises and disasters happen they calm down, because they say that they make clear that things may be weren't as bad as they looked at the beginning, particularly if you saw something in what's going on in me, where'd you go to where you say things like well, you. haven't seen the five minutes before the confrontation with the five minutes after they caught it, and so it's distorted the more one. Finds out about the attack on the capital, the worse and more horrifying. The information are. It appears that more than a hundred capital policemen were injured. In the a the policemen were injured. I think the numbers Seventy policemen about women
There is now a video of multiple women being trampled as them as the out of Control MOB stormed the building, and, of course, all the stuff that we already do know about people being hit with steel poles- and am I mean it's just the most horrifying thing- and we are moving into a position with the Republican Party and people in the EU Your problem party are treating this as though it was an event without consequence on Carthage. That's the end of May, when he really is just that, wounded caribou in a land of wolves. Now I'm just limping along that the tone current demonstrating how vulnerable he is by putting his feet. Europe and the wind amid a hurricane trying to follow whatever. Whatever the path of least resistance was shown himself to be pretty weak. Clearly, can control is conference
and I am persuaded by analysis of the Carson Jordan's decision to bow out of the race for the open Senate seeping vacated by Rob Portman. In twenty twenty two if he had had jumped into the racy, probably to clear the field is decision Not too means it's pretty open contest, but it the suggested he sees a lot of room for improvement in this position within the republican Conference in the house, and our public confidence in the houses were five seed, short a majority, so there's reason to invest in moving up the ranks of leadership there from the court. It is clearly not not strong enough to maintain control of the conference in the majority. Look, it's very simple if you think, if Mccarthy thinks that he can get into bed with Donald Trump and
she's gonna save him were saved the Republican Party. He does not understand Donald Trump, who was harmful to the Republican Party, helpful to himself, though seventy five million votes that he garnered we're helpful to himself a but Trump ends his tenure with their republicans it was the house and having lost control of the Senate and having lost control of the White House. He is a party of one Trump is interested in himself. He will make whatever agreement that he makes on Thursday in January, when he is he's not the agreement, though he will hold to on Saturday Saturday January thirtieth if it suits his temperament and his desire,
that day to break it and because his own supporters largely follow his lead when it comes to what is good or bad for him, and for them he will suffer no consequences from being in concert I am an and untrustworthy answer you competing narratives there, though, that Republicans, I can't really see past the one is republicans do better when Donald Trump is on the ballot, and there is evidence to support that. The other is that Republicans in swing districts that you need to form a mature. we do better than Donald Trump does when he's on the ballot on those are the real or data driven arguments around which of those conditions far more valuable, but the Republican Party has clearly sided with the former. There are far more concerned that Marjorie till it greens, voters
show up. Then the suburban republican stalwarts in in more tradition right, leaning districts that aren't outright deep red which have not shown up or have decided to turn out for Democrats in two consecutive cycles there there doubling down on greens, voters which is interesting, because if you think about a green is of a district that, I think is Trump plus twenty seven. So, let's say just for the sake of argument that you alienate her voters and that number drops down two plus ten, four Republicans from twenty seven That still gonna be a republican district when you lose forty suburban districts he gave back a bunch of them in twenty twenty after twenty eighteen, but when you lose forty suburban there. tricks and these among those suburban districts to
the tide for Biden and win him? The presidency? What you don't need, as a party is to run up. Crazy numbers in safe districts. That's nice! It may make you feel great that you win by seventy percent rather than sixty percent, but you only need to win by fifty point. One percent. Well, then, that the short term pay off for the kinds of Cannon It's like the Marjorie Taylor Greens and on the left the EU sees who had these, who have extremely safe seeds that they can run up those large margins on is it they. They feel themselves to be and in some sense, are vulnerable to criticism, particularly from their own party leadership, and I think we are seeing this is a new trend with these extremely gerrymandered districts. Where is it in a very safe sea? They could eight, their own platforms, their own audiences, that are not even that it might include their constituents.
But doesn't rely on them. It's a bit of national platform and the thing is frustrating about Mccarthyism he's play into that development in his own party, by not being very gentle gentleness criticism with with Marjorie telegram. kind of trying to align the danger the January, six insurrection pose There is also this other problem, which is that day, if you're conservative right now, Europe watching a political and cultural landscape shift rather dramatically to not, great censorship, but making a very uncomfortable to whole believes that aren't in the democratic majority right now, and that includes people who I mean there is a real and it's not it's not paranoid. For someone who voted for Donald Trump thinks January. Six was a nightmare to feel kind of late. You shouldn't admit that they voted even for Donald Trump. They might be Republicans in accounts. or Republicans who always vote in our ticket. There
Weird mood shift happening and you see it from certainly from the progressive left in denunciations. You know we have to expel from Congress anyone who get a phone voted this way or that way we ve put people on there. no fly list if they voted this way or that way There's a mood right now that I hope is just reactionary, cools down, but but could also elevate the kind of Mccarthy courting Trump in the queue and on voter types, it's gonna encourage that mood not not quell it. There's a terrible feedback loop at work here right because the more more they Ty anyone anywhere near conservatives or the right to something that they call incitement and began cracked. And the more that will drive, conserve rice, over to the fresh water that then then kick it kick up trigger thee. I'm crackdown and so on. It's a very bad place to be accused Senator TED crews of trying to have her killed. She put that
onto a determined tat judge. You trying to have me murder to murder me yes and she's. that's, not hyperbole, that's the way she communicates to her followers. That's a concerning development, the whole that whole interaction is, I think, encapsulates where we're going in the wrong direction. With a lot of this puts you, as you said it puts it, puts one in an incredibly difficult in opposition. threading certain needles, because, on the one hand I do think TAT grows and Josh Hollywood disgustingly irresponsible in their game. Get me out of high value the validity of the election. On the other hand she cannot be allowed to. with the idea that he attempted to murder. Her like this is this is where everything Those haywire and people are, my just saying that puts me in a distinct minority of people in the United States who seem unable to hold these
your positions in their head at the same time, and yet, if we can't hold those views in our head at the same time, the The political polarisation or the other extreme polarization is only gonna get worse like thirty years ago, that would have been a gimme. You can't say that about TED, promoting that mean now to go. You apologize now, that's not right! You can't say that and yet not only as she gonna say: she's gonna get Russia's be rewarded for it. This isn't an odd way. Marjorie Taylor, Green is getting rewarded for being a crazy person. She is becoming one of the most famous politicians in America. From from having been an obscure, you know crazy person harassing you know of, admittedly, leave noxious
seventeen eighteen year old, kids as they walk around like she, you know she deserves to get be in Vienna, then a patent cell, and yet here she is kind of becoming the face of the Republican Party, and if, if this is the number one person in the house can't see clear, saying, as Republican said just a couple of years ago, of Steve King. This person has nothing in common with the right the we are not letting him have committee assignments, we're not letting him good get anywhere near. You know, serve the maintenance and order of power to the extent that we have the ability to do that, where's that going on with a huge Kevin girls like I'm gonna, have a conversation. We can have a conversation with her about talking How the rostrum family is shootings face, lasers to cause fires in California,.
There is an ongoing submit both aside from being outbreak, she's, evil that is, evil, Anti semitic, filth and- and you know, and if I, if I were to see, cover my car, in the next week I would push him against the wall and say you or a coward and swine bucket. You trash were say that you have real problems with Liz Cheney and you can you can't, for my sake, denounce the the idea that Jews are setting fires in California with there article lasers, what kind the man. Are you what kind of a what kind of a man are you Are you even a man. Is what I understand. I completely share. That sentiment nevertheless been negative partisanship being what it is. It's not as though we have them
That's a moderating their rhetoric, as you said, not just a thing: it's not people like Nancy Policy described crazy person who does not belong in the house who took up, as I feel it. Ass quote, the enemy the enemy is within the House of Representatives. She said a mortar retailer Green and written, alluding to various other members of the republican conference, who behaved rather contemptibly and tried to intimidate their fellow colleagues with in upbringing weapons into the, Lange and making a menace of themselves, and they deserve to be criticised for it. But the speaker of the house saying the members of this body constitute the enemy That is a real and it changes the terms engagement here expands the rules of engagement in a way that is very unhealthy, sought the first time she's use. That kind of framing that's actually in the last year. She's that's come up on a few occasions and it is
its short term she's gonna, get a huge gets huge political payback should a lot of attention for that remark like she has about previous remarks and that, with that tenor long term is actually undermining our own power because that's corrosive to the institution. What you say when you're the leader of an institution and a crazy person is part of your institution, and you really don't have the power to fire them is to take this. These are all the rules that, if you don't follow them, you'll be censured. You'll be there should be that, but you do call them. Your enemy could she's technically a fellow citizen who has every as much right to be in that in the chamber, as as Nancy Blowsy herself does, you can dislike her views. You can just like everything she stands for, but she is not your enemy. She is your political opponent and so treating political, it's as mortal enemies is how we got to this extent, I think that it is dangerous, knows and the other way that we got into this mess, as you know, is through the through the involvement,
of social media and and the fact that we are tracked online buyer, internet service providers to funnel information to us. The closes a narrows our perceptions. feeding us whatever it is that with they think we want to see and hear and and and helping to close off the America. Mine, and did you even have a choice and that internet service provider? You didn't because most So very little choice. These are semi official. Monopolies that use their monopoly power to take advantage of customers, and they log your activity and they sell the data to other big tech companies or advertisers. That's why the prevent ice peace from seeing my internet activity protect all my devices with ex three p m, the simple after your computer, smartphone them criminal, your network data and tunnels it through a secure, vps server, so that your eyes p cannot see any of your activity,
just think about how much relies on the internet. Sadly, every site you visit video, you watch message: you send gets track by eyes, fees or other tech giants. Who then sell your information for profit, so expressive here is the best way to hide your mine activity from your eyes, p download the app tap one button on your device. You are protected and ex recipe of does all this. Let's lawyer connection, that's why it's rather the number one Vps service see that word so stop having over your personal data is ice. Is another tech giants who mine your activity and solve your information, protect yourself with the Vps I've. Just keep me private online visit Express Vps, dotcom, slashed commentary, that's Ex Pierre S, Ecevit P and thought comes less commentary to get three extra months. Three daughters, as we believe that comes less commentary right now to learn more so guys. Yesterday we did that twenty minutes on the up on the game, stop subject and them. I just want to repeat
it, because we ve got to blow back on line that we that we are, we didn't know we were talking about and we were the same conversation that everybody else was having who did know what it but does seem to be a divide between people who say the market will work. This is just another way that the market works, the market functions and and It's really funny to see how people are saying that the it's not this is a distortion of the market, particularly billionaires who play these games and then complain that tat terrible things are happening. A man did billionaires, stick their foot in it, Yesterday Leon Cooper, amend the hedge fund, guy went on the air with em raw Sorkin and said things like.
all these people using their stimulus checks, the skirt around what the market like how well it's like. You know if you want to make sure that mobs come and burn your house down and string you up upside down from a tree Leon Cooper Menu. Will you will go on tv again, like you know? Sometimes games like this in the things that happen here to expose the soft underbelly, a more despicable elements of a vulture capitalism. All that, in that very much is something that I think was was an evidence here, but I do, but I just want to rip. Is they want? Which is that my concern here illiterate, though Maybe it is literally goes to the idea that the people who have been set earlier inspired to start a fooling around the options market you now using using a sort of
proud sourced website up to play this game. They are the ones that individual people who have who who can ill afford to lose. This money are the ones who are going to end up holding the bag. It's not very rich people who are. It looks like it's great because our funding to them, because one hedge fund, may you know, go belly up Melvin Capital or not based on this play, but tens of thousands of people are going to get hurt when the market crashes as it. Inevitably, they are not able to get out in time, and that's my that's that's work. I just want to add that. when you say that this person going on television, saying inflammatory things watch his mouth in part because a market common Burne S house down, and it's not an unthinkable prospect. The problem is not with the guy saying, inflammatory things on television. The problem is with them.
I don't agree. Can I explain why very wealthy people There is a social compact in the United States that have been falling apart, which is, if you were the sort of person who ends up making billions of dollars. There are things that you were supposed to do to link to live up to your side of the social contract. You pay. Your taxes you do this. You do that you're supposed to be charitable and elements canary to help others with your gains in part, because the country that you live in has done you such a service by allowing this, whereas other countries do not allow it number one and We're too you are not so
the walk around going near now, I'm rich and you're, not because the mob may not shouldn't go round and string you by your heels, but a world in which the people who are uncommonly gifted vice chant circumstance their own hard work, and all of that it is. They are obliged for the purposes of social peace and the social compact to maintain a certain degree of decorum and not to walk around Lord Their games over other people- that is how you get revolution, I refer to destroy wealth. Ok, ok, I'm sorry, but I have to begin to say one thing: Bernie Freaking Sanders that, There is a multi millionaire and he spent this inspire political career attacking wealth, and I think And then, if you ve noticed, there is quite a shift in the rhetoric of people like Bernie Sanders Elizabeth worn now they re elegance
billion heirs of the Bee, because most of them are millionaires themselves, so I think there's it's more complicated. I agree that that the ideal, but the reason someone constructed a makeshift guillotine in front of Jeff bases his house the house he owns here in Washington DC with a killer rich placards over the summer. This is an anti farmer. They did this a couple times is that it there's something enervating about the idea that the problem is the billions, but I'm with no other problem is what is the mob that thinks that the destruction? the billionaire will solve the problem that they're so angry about neither to get through the sound vote all now nonnegotiable. We don't actually know what this guy's philanthropic giving is, but it doesn't even matter because his capacity to engage with the market, and provide a service and and generate the kind of capital that produces investments which produces jobs which produces economic growth. That's his contribution. Ok, Look, I think, there's been a change.
in the mindset in among Americans Wall Street as as a sort of cultural symbol and the stone movie and get on all that stuff. That's been for a very long time. This is not that's not what has changed that then used to inspire Us Riddick emulation right, it would do it. America. The idea wasn't owe their rich. Let's get a mob onto tear them down. It was I want that event. I can get that. I want that, amend that That is the difference. You Mozilla discuss my friends on with Forty nine in another marriages? Exactly, but when I was a kid teenagers had posters that were alike. Jerry Cars on their walls. You know, and that's sort of not, I think the way it is now right. There's something you're there's something there's an understanding. Your early
there is already a demonization of a certain type of materialism beg conspicuous, conspicuous, conspicuous consumption. Now that has, I think, changed people's attitudes towards this entirely well. Ibiscus, say one thing which is at the beginning of the twentieth century when there The bill for the creation of the first real wealth class in the United States had taken place over the previous twenty five years, and we got to the point where one person, J, P, Morgan, controlled two per cent of the: U S, economy, and personally individually, inserted himself at a moment to save the United States from going into a deep recession after his own personal administrations and various. There were various political responses to this behaviour. The progressive movement was largely a response to the rise of this
pseudo oligarchy, class of of rich people, and they almost in a kind of conspiracy of silence, decided to change their cultural behaviour, the ultra. What the Rockefellers the Carnegie is, the Morgan's all of them they stopped being to public. They moved out of cities into countries. I build large hedgerows around their houses, they saw created foundations and pumped money into the public, we'll building museums and hospitals and this and that the other thing they started public. They had publicists who said things like they gave their kids a dime allowance every week, in order to teach them the importance of thrift. They started dressing down in old, clothing and stuff, like that. Why did they do this? Because there was
something about their behaviour that affect that they had come to understand was actually dangerous to them. their wealth and was somehow offensive to the american myth of social levelling and all of that That was something that happened. That kind of his paws on He killed the malefactors of great wealth, which of course was the phrase that help Teddy Kennedy. Teddy Roosevelt become a major american political figure hit. His purpose was, as a member of this class to go after the malefactors of great wealth, and it was up to them to stop seeming like now,
factors and Leon Coppermine yesterday and CNBC seemed like a malefactor of great wealth, saying I got up here and you can't cause you're just living off the government teeth and using your government check to score around in my business. Well, good! Fine! You go ahead, go ahead and see see what happens to your tax rates over the next ten years. If you are people like you, go on like this because this is not- you know whether or not knowing your right- that he as helping contribute to the efficiency of markets or not. His personal conduct has an outside the fact on the way people understand whether wealth creation, wealth promotion, all this is good or bad, and if the public is agreeing with in that statement, what's with disagreeable, isn't that there is the potential for early
plate of effort to change and marginal tax rates around even other confiscatory. The threat here is for mob action, and are you U methods in Kabul, I've actually what we have in? That's what I said yesterday on this package to maintain that the depth of psychology on display here from this some very vocal, albeit a minority people who were getting in on this bubble, was not there a return on investment. The only return on investment they want to generate was chaos and meeting our pain, and that really scary prospect women's abroad? Ok, but I was actually when I said they could string. Em up, we know buys a veto of the mob become a string about by his heels. That was a metaphor for
ninety percent tax rate, but I meant it isn't metaphor you may not have been and they may not have been better for it. In fact, it is a metaphor because the whole point was that this was a trading places play right. What's what is the end of training places, its Eddie Murphy in and accurate, saying I made a bet. I made a bet that we could make you poor and I hope I won the bat here's. How can I have my dollar please like that? Their their revenge against the against the dukes was the day could get rich and make the dukes poor. At the same time, well, Leon Coppermine can be made poor, even if many tonight not careful and is nine eleven killed. Rennie for a little while twenty twenty definitely killed the metaphor right, we have to be very careful about what we think is a metaphor is taken, quite literally by angry a rapid paragraph with I will. I will spend the weekend pondering the mist.
Use of metaphor and at the end of metaphor, at the end, the possible return of irony in the end. The metaphor, please have a great weekend- will see a Monday for aid received. No, I'm jump adwords keep the camel burning.
Transcript generated on 2021-07-27.