 Jack, you've been speaking to me recently about Biden economics and how in China they actually were using this term prior to Biden economics. Where do you want to start? Very recently, I got the report for the first quarter of the Chinese rare earth industry published by the Chinese rare earth industry society. And I was surprised in reading it immediately to come across the phrase g economics named after President Xi, because this was written about three months ago. g economics is the plan by President Xi to decrease inequality in China and bring relative prosperity to as many people as possible. That's the official line. I think they called it socialism with Chinese characteristics a version of it. Anyway, g economics. Now this was months before anybody came up with Biden economics, which is the US White House's term for whatever cock up is going on in the American economy. And if there's anything good out of it, it's Biden economics, but anything bad, it's mega republicans. So in other words, it's nonsense. But what interested me was that apparently the staffers who write the stuff for the for the White House are reading the Chinese news releases from the rare earth industry that that's encouraging. Actually, I didn't know any of them knew anything about that. But what what it really indicates what its points out is that Washington has at least two cultures, which basically ignore each other. One is the military industrial complex. And the other one is the civilian economy. Now, here's the difference. The military industrial complex is very aware of their need for critical minerals. In particular, those required to make rare earth primitive magnets and chips semiconductor integrated circuits. So they have been funding for several years now projects to ensure a secure supply of these two to the military industrial manufacturing complex. And so far, they've distributed quite a bit of money, but nothing has happened yet. The two stars of this are one MP materials, which got about $40 million to set up a system to process heavy rare earths, which are critical for magnets, and Linus Corporation of Australia, which got $130 million to set up a processing plant in Texas for the same thing. Now, I mentioned this only because those have actually been funded. And as far as we know, they're underway, there isn't much news coming out. But now let's talk about the civilian economy, which for the same kinds of materials is many times larger. The civilian economy for rare earth permanent magnets, for example, is at least four times the size of the military need for integrated circuits, it's probably 10 times the size. So you've probably heard of the chips at where the US government's going to subsidize the production manufacturing of semiconductor chips in the United States, up to $50 billion. And the various versions of the Inflation Reduction Act, which are going to spend a couple of billion dollars on things like battery plants, subsidizing battery plants, and maybe even magnets. But here's what you haven't heard. The central government in Washington is obsessed with celebrity. Okay, that's all they care about. Right now, the entire government is focused on whether or not the eldest living son of the American president is a crook. And that's all they talk about. It's all their pet newspapers talk about all the all the hearings they're having and all all the exposés and the secret witnesses. That's all they talk about. Now, do they occasionally talk about critical minerals? Oh, yeah. Do they have hearings on it? Once in a great while, I would say the ratio of hearings on Hunter Biden to hearings on critical minerals is about 100 to one in time spent. Now, think about this. The people in Washington are telling us that if we don't reassure our high tech manufacturing industry and secure, non Chinese supplies of the critical minerals and their processing, that we are doomed somehow. I don't really know how, but we're doomed somehow. Okay. In the meantime, they have hearings about it. Hearings. But if you ask them, well, do you understand the components of the total supply chain for a lithium ion battery or for a rare earth permanent magnet, they look at you and they say the what components? Isn't that what you guys are making? They don't understand supply chains. There's nobody there in Washington as any practical experience of manufacturing high tech goods. Therefore, they come out with the following genius statements. Gallium and germanium are rare earths. They are not. Then they tell you these rare earths are critical for the manufacturing lithium ion batteries. They are not. So they don't know what they're talking about, but they have all the money. It's like your rich uncle who you know is senile and you're hoping he leaves you the money so you can have a good time, but he keeps thinking that he's 16 years old and that it's 1943. Okay. So that's the problem. Washington is disconnected from the reality of the economy. America has been deindustrialized. They want to reindustrialize simply by saying, let there be reindustrialization. Without regard for the we're going to need people. We're going to need raw materials, processing, engineering, all these things. My pet peeve is that nobody in Washington has ever heard of the term, remember this, manufacturing engineering, which means scaling up from, oh, that guy at the university, he says he can recharge a battery in three seconds. Well, he can do it with that little quarter ounce battery on the table right behind his lunch sandwich. He can do that. And then you say, well, could you do it with a gig of hours of batteries made in a multi-billion dollar factory? Well, I don't know. That's for the engineers to do. I'm a scientist. This is a typical answer. And by the way, my grant application is in. And, you know, I just told, I want to close with an old man's story. I studied physics in graduate school 60 years ago. I remember when our Korean-born professor in nuclear physics was addressing the graduate students about writing the grant proposal for the next year, 1963. And he said, remember, I'm sorry, if this offends anybody, I'm going to do his accent. He said, remember, no buy car with grant money. Only Professor Kim get car. And we all thought, we all left because that exactly, people, you just wrote grant applications. And at those days, that was the moon, you got the grant. All you have to do is put the keywords in space, moon, that type of critical defense. Okay. Well, we're right back to that, aren't we? They're handing out these grants like candy to people with the right words and only now on top of secure, sufficient, critical, you add ESG or something like that. And boom, that's, that's you get the grant providing you have a lobbyist that you're paying $25,000 or $50,000 a month. And he knows the right senators and the right congressman. And they, they love to write earmarks, which they said they were not, we're never going to do again. All that, all this money is going out, but no organization and no understanding. America has no industrial policy. We're not saying you must produce batteries here and we will support that. They're saying you must produce batteries here and we'll give you a lot of money. They don't know what you're doing. And you're saying, I'll take the money just like everyone would and nothing is happening. Nothing. You're building factories without raw materials. You're not mining anything. Where do you think the materials come from? The only people in Washington have any idea what's going on is the defense department. And they're not all that sharp either. So good luck, America. Thank you. For more information on Jack Lipton and to hear more of his stories, go to criticalmineralsinstitute.com. Thank you, Jack.