 The radical, fundamental principles of freedom, rational self-interest, and individual rights. This is The Iran Book Show. All right, everybody. Welcome to Iran Book Show on this Wednesday morning, day before Thanksgiving. Exciting. Hope you're all ready for a fantastic Thanksgiving holiday, a wonderful weekend, a fantastic meal, and of course, lots of gratitude to the producers of this world, which is what Thanksgiving should be all about. I think Thanksgiving is now kind of a global holiday. I think people recognize it all over the world. I don't know. Maybe it's still just an American thing, but I know we've got a lot of Europeans on because we are doing this in the morning when they can listen live. So that's one of the differences between the morning show and the evening show. Tonight, we'll be talking about Thanksgiving. We'll be talking about productivity, productiveness, production, different aspects of it all in celebration of the producer and the holiday of the producer, which is Thanksgiving. So join me tonight. I think it'll be 8 p.m., 7 p.m., East Coast time, 7 p.m., East Coast time to celebrate Thanksgiving. So join me. It'll be primarily an American show. My guess is because it's an American holiday, but you Canadians should join as well, although you've already done Thanksgiving back in October. Let's see. I don't know what's going on. What's going on out there in the world? Something has shifted in the zone, in the atmosphere, in the world because for a second day in the world, we've got a major once-in-a-lifetime soccer upset. I don't know how many of you care about soccer. But anyway, today, Japan beat Germany. Japan beat Germany and soccer. Like Germany, like one of the powerhouses of football, soccer of all time. And one of the best teams in the world, and both Germany and Argentina, were among the favorites to win the World Cup. Argentina was only second to Brazil to win the World Cup, and Germany was like third or fourth. So two of the favorites to win the World Cup have lost games, one to Saudi Arabia. I mean, that's absurd. That's unthinkable. That's ridiculous. But it is Argentina that can very much go up and down. But Germany, the stable German team, just stable constantly losing to Japan. Japan's like an insignificant soccer place. Anyway, shockers, amazing. But there we go. That's the beauty of sports. Going into the match, you never actually know who's going to win. Anything can happen. So there we go. Thank you, Daniel, for the support. JJ Jigbi says, who cooks Thanksgiving dinner at Brook Household? The chef at Marmalade does. So we've got a favorite restaurant. He makes the best turkey I've ever had anywhere. I usually don't like turkey. It's very hard to do turkey right. And the chef at Marmalade in San Juan, Old City, Puerto Rico makes an unbelievable turkey. I basically had a reservation for Thanksgiving at that restaurant pretty much every year now. It's just a standing reservation. So that's who cooks Thanksgiving dinner at the Brook Households. Nobody. Nobody. We go out for dinner. I am, as you know, as I think you know, huge believer in division of labor. Huge believer in division of labor. And I don't like turkey at all. It's not edible meat. It's not meat that was meant to be eaten. It's, I don't know what it is. It's to torture people. Lack of flavor and usually dry. Now at Marmalade, the turkey is moist and flavorful. But that's unusual, rare, really strange. All right, let's get to the news because we have a hard stop today at 12.15, Puerto Rican time, 12.15 hard stop. I've got another meeting so we can do the news quickly. So we're going to do a few items in the news very, very fast. And then we'll get to a few others that are a little slow. Of course, Super Chat is open. A goal for these Super Chats is 250 for these quick morning shows. We've exceeded that goal substantially over the last few shows. But I hope we can keep up the momentum and keep the 250 going. Make it worthwhile to do these. All right. So just quick highlights from the news this morning. Another shooting. Six dead at a Walmart. Just horrible. This time it's an employee. I guess a disgruntled employee. I mean, it seems like these shootings are constant. If you follow the news, they're all over the place. Hard to tell again what the motivations are for any of these. But at the end of the day, it's some form of nihilism. When somebody is willing to take a gun and shoot a bunch of people knowing they're probably going to die or knowing they're going to spend the rest of their lives in prison, not even attempting to escape, not even thinking about escape. This is sheer nihilism, hatred of life, hatred of existence, a projection of the hatred of existence. And the real question, the empirical question is, is it worse now than it was in the past? It seems that way, but it's hard to really measure. And what can be done about it? Is there a way to reduce the nihilism? I think there is. And that is to elevate values and to elevate the pursuit of values, objective values, rational values, above kind of the emotionalism of our culture. But we live in a culture where there's a sudden segment of the population that is nihilistic. And it's not about politics. It's not about any particular point of view. It's just infused with hatred, which I think comes from a disgust with the world and maybe a particular political perspective. But anyway, more for a much longer show, we could talk about nihilism. Just quickly on the business fund, Credit Suisse, losing a huge amount of money, trying to restructure outflow of assets. People are losing faith in Credit Suisse as a bank, as an advisor. Massive difficulties. It'll be interesting to see if Credit Suisse can survive. But this is a major, major investment bank, Swiss base. This is not some trivial thing. And one wonders if Credit Suisse is in trouble. How are the other big banks doing usually these kind of economic crises, financial crisis, unwind in stages? We haven't seen the big investment banks get into trouble. We've seen a lot of crypto. We've seen signs of an upcoming recession. Is Credit Suisse the canary in the coal mine, or is it just an exception? It's something to think about when you think about the economy out there. All right, quickly, intensive fighting in the eastern Congo. Much more aggressive, much more extensive fighting in the eastern Congo. This is a place that is being ruled by gangs for a long time. There are forces that are fighting from Rwanda and some of its other neighbors. There is a government in the Congo and the central Congo that is also trying to assert control. But mainly these are gangs over there. The only reason why this should interest you, the only reason why this has any importance to any of us, other than it's always horrific that people are fighting and there's a lot of death and destruction going on anywhere in the world, is that in this case in the Congo, this is one of the most mineral-rich areas in the world. Many of the components that go into our computers and our smartphones are actually mined in this area. Control over these mined resources is what's at stake. What we really need here is the rule of law and property rights. And what I fear none of the fighting parties is actually advocating or it's actually fighting for is rule of law and property rights. This is an crucial piece of the supply chain that is electronics, which is quite meaningful. EU is meeting today to try to finalize a price cap on oil from Russia, a price cap that will apply globally. That is that countries won't be able to pay more than this price in order to buy Russian oil. Russia is threatened to withdraw its oil supply from it. It's not copper. I'm not sure what it is. It's a variety of different metals. It's not just one thing. It's a variety of different resources. But they're crucial for chip making and for chip making. The more I read in chip wars by Chris Miller, the more I like the book and the more interesting it is and the more there's stuff that I don't know, which is just fabulous and it's well written. So I highly recommend it. Anyway, we'll talk more about that. We'll talk about the Fed later. Cost of shipping oil. Here's a fact that you probably didn't know. I didn't know. Cost of shipping oil is 11 times higher. Cost of shipping an average gallon of oil is 11 times higher right now than it was a year ago, than it was before the war. This is primarily a consequence of the fact that in the past shipping oil from Russia to Europe was super cheap because it's super short. Super short distances. Now every piece of Russian oil has to go all the way to India because the Europeans won't buy it. So it goes to India for refining there, which is a lot longer. And then Europe, instead of getting cheap oil from Russia, where the shipping cost is very close, it has to get chips from the Middle East or it has to get oil from other places, which require a lot more distance. A distance has increased dramatically in distance. Greater distance equal greater shipping cost. So distance has increased significantly. And that is part of what is causing shipping prices to be 11 times higher today than they were last year. Pretty, pretty cool. All right, quickly let's get into some of these other issues that I listed on the News Roundup title. Wow, I did all that in 10 minutes. Okay, so hopefully we'll do the rest in 10 minutes and then we'll have a few minutes for Q&A and we'll be done. We've got a few super chat questions, but don't forget you can ask questions. You can sheep the show. You can determine what stories I talk about by asking questions in the super chat. Let's try to get $20 questions because otherwise it's going to be hard for me to cover them all and hard for us to get to the $20, $250 goal. All right, student loans. So, you know, the Biden administration had this program to forgive student loans on a massive scale, half a trillion dollars or something worth of student loans were going to be forgiven. That has been stopped by the courts. I think the Eighth District Appeals Court has ruled against and has put in an injunction prohibiting the Biden administration from continuing. The Biden administration has appealed this Supreme Court. The Supreme Court is going, whether it's going to hear the whole case or whether it's just going to rule on the Eighth, on the appellate court decision is still open and we will see what happens there. In the meantime, the Biden administration has discovered a cool way to actually get around the court decision and that is by basically continuing the COVID era loan forgiveness program started by Trump. So, in 2020, part of the Trump administration's idea about stability and economy and helping people through COVID was, hey, if you have student loans, you don't have to pay them back. You don't have to pay them back for the next six months and then it was extended by another six months and then it's extended another six months and now it has been extended. COVID's gone, COVID emergency's gone, COVID restrictions are gone, COVID, all kinds of stuff is gone but the welfare program that is, you don't have to pay your debt back, you don't have to pay your student loans back, that is going to continue indefinitely and probably continue indefinitely until the courts rule on this. So, this is a way through executive order that both Republicans and Democrats have embraced and really, I think the first president to really do a lot of executive orders was Bush and then Obama increased and then Trump increased and now Biden. It's just horrible. This is authoritarian. This goes around the proper purpose of Congress, which is to govern around these things. This is to a large extent a default of Congress. Congress should insist on getting, you know, legislation back into its court rather than letting the president legislate through the pen, but that's what's happening. So Biden is just continuing, just let's continue. I mean, the immorality of this, I mean, we, and there's nobody to sue and say, wait a minute, this is wrong, this is unconstitutional, this is a violation because it's not clear who has standing, right? I should have standing as a taxpayer for the fact that the government is taking on more and more and more debt because it is not getting income from the student debt that it is provided. But I don't think the courts work that way. I don't think me as just a taxpayer has standing around this thing. So it's not clear who can sue to stop this. I mean, they could indefinitely, without ever passing a law, without having to have a program that goes through the courts without doing anything. They could just temporarily continue to use this emergency power to continuously change everything in the world based on just the signature of the president. Disgusting, offensive, horrible, and disastrous economically and morally offensive, and it teaches the students and everybody else in our culture the wrong kind of things. Yes, let's have our grandkids pay for students to go to college right now. And of course, let's all of us pay for it in slower economic growth, which is what deficits produce. Now, of course, the government shouldn't be in the school financing debt business to begin with. The government has no business in that business to begin with. But given that they are, at least collect on it. All right, so that's where we are, Biden administration continuing this. It's a no brainer for them to do it. Why not, right? You don't lose anybody. Nobody cares about this stuff. It's like me and five other people care. Nobody else cares. No voters seem to care. Their constituencies don't care. No economist is riling against this. No editorial pages. It may be the Wall Street Journal, but no other editorial pages are riling against it. It's not there. It's not part of the cultural wars. So who cares? They can do whatever the hell they want. All right, quickly, interesting stories on the Russian, on the war, Russia, Ukraine. As you know, what Russia is focusing on right now, it can't win on the battlefield. It's not advancing on the battlefield. So what it's trying to do is demobilize the Ukrainians. So the policy there is to destroy the capacity to produce electricity, to destroy the capacity to produce heat going into the winter. So all of the missiles and all of the Russian military capacity right now is being dedicated to destroying power plants and destroying infrastructure in Ukraine. Ukraine is going to have a pretty cold and pretty dark winter. So it's going to struggle. It's going to be very, very difficult. But one of the things that I think is under-reported out there, I think the Wall Street Journal has had some stories about this, maybe some others, but not much, is the fact that Russia is running out of ammunition. It's running out of shells for its cannons. It has a huge artillery advantage in terms of sheer numbers, not in terms of quality, but in sheer numbers of Ukraine. But it's running out of shells. It can't lob enough shells out. It's running out of missiles. It's running out of cruise missiles. It's running out of smart weapons. So what it's doing is it's buying drones from Iran, suicide drones. These are drones that crash and burn and blow up. So not even the smartest drones, the suicide drones. It's also buying missiles from the Iranians. I mean, think about that. Russia, the great industrial powerhouse that is Russia, the great manufacturer of weapons that is Russia, cannot, cannot, has to buy weapons from Iran. And according to American intelligence sources, it's buying shells, ammunition shells, artillery shells from North Korea. I mean, that's how pathetic it is. And a big reason for that is that Russian manufacturing depends for chips. They don't produce any chips. For chips, for anything electronic, for anything advanced, for anything sophisticated, for fine tools, they depend on the West. And the economic sanctions have crippled them. Not to say they're not smuggling stuff in, not to say chips are not getting to Russia, they are. But they need to be smuggled. You can only smuggle certain quantities. And Russia is, as I've said from the beginning of this war, in deep, deep trouble. Its economy is faltering. Its capacity to produce weapons is diminished dramatically. Russia is not a self-sustaining economy. It cannot survive by itself. These sanctions are hurting, and the war is crippling it. Not only have they lost 100,000 people, productive young people, to this war, they've lost probably another few 100,000 who've left Russia, probably the smartest people. There's clearly a brain drain in Russia. The economic consequence of this war on Russia will be dramatic. Of course, the life consequence of losing those people is horrific as well. So that is even more horrific. The whole, you know, this is a catastrophe for Russia. It is a catastrophe for Putin. It is a catastrophe for Russian nationalism. The whole thing is an absolute, unmitigated disaster for the Russians, and it's reflected in the fact they just don't have munitions. Just don't have munitions. All right, so that is Russia. Let's see. Yes, Elizabeth Warren. Elizabeth Warren, where is this? Elizabeth Warren has this up-ed. Yes, Elizabeth Warren has an up-ed today. Oh, yesterday, I think. Regulate crypto, or it'll take down the economy. More panic and hysteria for the left. They love this. Of course, the right loves it too, a different type of panic and hysteria. This is the panic and hysteria from Elizabeth Warren trying to save capitalism from itself. She would argue, which is nuts. Crypto, you know, FTX, all these crypto exchanges are going to take down the economy. Crypto cannot take down the economy to a large extent because crypto is not yet so integrated into the world economy. It is not yet big enough to really take down the US economy or the global economy. You know, even if crypto all went to zero, it would have consequences. It's not negative. It's not zero consequences. A lot of investment capital. A lot of people's savings. A lot of stuff has gone into crypto to do this. But all of those investments, capital resources can be reallocated to more productive endeavors if crypto went to zero. It's not going to zero anytime soon. And Elizabeth Warren is, of course, being hysterical, and hysteria is primarily motivated by Elizabeth Warren's desire to regulate, regulate, regulate. Regulate this. She wants the SEC. She wants the Treasury Department. She wants everybody. And she uses FTX as an example. Now, the funny thing is, FTX has broken existing laws. You don't need new regulatory agencies. All you have to do is penalize FTX for breaking existing laws. Enron broke existing laws. You don't need new regulatory agencies to protect us from Enron. That doesn't stop the Elizabeth Warrens from advocating for new regulatory agencies. They do. The Consumer Finance Protect... Something Board is a Elizabeth Warren creation. She just wants more and more and more government controls, government regulations, government institutions. She is one of the worst, because she comes across to the left, at least, as one of the more reasonable people, right? And she's knowledgeable. She can write. She can talk about these things. But she is truly evil in undermining and seeking to destroy any element of freedom that still exists in our markets. And ultimately, while she claims she's not a socialist, she would bring about fascism in this country in a way that I don't think any other senator out there, other than maybe Josh Hawley, in a different form would like and would advocate. Remember, I'll just remind you without commenting that Elizabeth Warren, when she went for president, came out with an economic manifesto that Tucker Carlson praised and hailed as he basically agreed with almost everything she said. So again, the differences between regulate control kind of fascist policies that Elizabeth Warren is advocating and the policies, the kind of economic fascist policies that somebody like Tucker Carlson is advocating, not that different, different between Josh Hawley and Elizabeth Warren and economics, not that different. Very, very similar. All right. Just related to crypto, New York has just restricted crypto mining. It's the first state in the country to do that, primarily for environmental reasons. So crypto miners signed deals in New York to resurrect some old fossil fuel electricity plants to dedicate them for the purpose of crypto mining. They are going to be shut down. The crypto miners are going to have to go somewhere else to do it. Although, of course, the profitability of crypto mining has gone down a lot. They could still mine using the existing grid, but they can't have the dedicated new power plants for them because God, global heating, global warming or whatever. Of course, and this, whoops, that was crypto. Of course, the real threats to the global economy and the U.S. economy and what Elizabeth Warren won't tell us, the real threat, the real damage that is done has been done by the Fed, not by, and by government policy, certainly not by crypto. The real threat is the Federal Reserve. The Federal Reserve, everybody is on pins and needles today. Pins and needles because the Federal Reserve will release its notes, the notes from its last meeting, the comments that it makes from the last meeting. The markets will try to squeeze out any kind of information about what the Fed is planning to do in terms of interest rates and then price everything accordingly because price adjusts according to interest rates. Unbelievable that there is no, there's almost nobody talking out there about the fact that we have given the Federal Reserve this much power over human life, this much power over the global economy, the fact that a board of 12 people get to decide the fate of humanity, the economic fate of humanity, on a dime like that. Central planning, power excellence, and nobody cares. That is the real outrage. That is the real danger that we face is that a Federal Reserve does the wrong thing and we all suffer. And of course the Federal Reserve can't really do the right thing because what is the right thing in a centralized planned economy? There is no right thing. It's just unbelievable and nobody challenges this. The existence of the Federal Reserve is taking us metaphysical. There is no alternative. It just is, that's it, it's gone. So this is the whole orientation of somebody like Elizabeth I. Oh, crypto is going to bring down the economy. No, the Federal Reserve is going to bring down the economy. It already is. By creating inflation and raising interest rates, which I think it has to do, there are other problems to begin with. All of that, that's the real problem. Not crypto, not credit suites, not any particular thing. It's the Fed that is creating these massive swings in the market that is potentially going to create an economic disaster, not crypto. Indeed, crypto pricing is partially dependent on what the Fed does. Everything is dependent. Everything economically is dependent on what the Fed does. It is that influential, that powerful, if you will. All right. So that is the Fed. So we're waiting, we'll hear later today about what we think the Fed might do in a couple of weeks and then next year and we'll, crazy stuff. But it's the reality. All right. Finally, we talk about real estate prices as of course very much related to what the Fed might or might not do, but we can pretty much guarantee that interest rates, at least short-term interest rates, are going up and as interest rates go up real estate prices come down. Canada, one of the biggest booms in real estate, biggest rises in real estate prices over the last 20 years of being in Canada. Canada, for the first time, I think in a very long time, in decades of seeing real estate prices start to come down. This is true in other very high real estate price economies, like certain places in New Zealand and in Australia. Real estate prices are coming down as they have to come down because of interest rates. So in Canada the percent change in home prices over the last 25 years is 553%, which is insane. Australia is 502%, New Zealand 451%, Luxembourg 449%, Sweden 442%. I think most of that is driven by supply constraints for whatever reason in these countries. US is way down at less than 200%. So this is averages, this is not in particular areas. Places are starting to come down in places like Canada, Australia, New Zealand and Luxembourg partially because prices were insane bubbly and partially because interest rates are higher and as interest rates go up, as I've told you many many times, asset prices come down, all asset prices come down including all else held constant, including real estate prices, so that is coming down. Alright, that is the news for November 23rd from the Iran Brook show. We did that in 28 minutes, not bad. Alright, quickly, let's do some super chats. We got Harper Campbell at 50 bucks, thank you Harper. I don't know why you think Scandinavia is a fertile ground for objectivism. Most Scandinavians, I speak with where their collectivism is a badge of honor. They brag about how high their taxes are. It's ingrained in their identity. Yes, but funnily enough Scandinavia has been governed by kind of more, kind of call it right wing or more free market leaning political parties that as much of Europe for the last 20, 30 years also true, more importantly, is that just empirically Scandinavia has a very large as a percentage population number of objectivists, so maybe we've already captured all the objectivists in Scandinavia all the potential objectivists in Scandinavia so everything else is is impossible and therefore the numbers are small and the potential is very low but the fact is that Iran's books sell well in Scandinavia and that there are a lot of relatively speaking to just a lot of objectivist per capita in Scandinavia more so than in most other parts of the world so we can talk about why that is and to what extent these people are exceptions but maybe they are maybe because of the collectivism inherited Scandinavia society there are more rebels more people who rebel will ultimately become objectivists because there's nothing else to rebel towards I don't know but it's just a fact that when you go to Scandinavia there's just a lot of people familiar with Ayn Rand and a lot of people who actually like Ayn Rand alright Shazvat would Putin go on a shooting rampage if he didn't happen to become ruler of Russia I don't know no I don't think so I don't think the nihilism expresses itself in the same way I think Putin's nihilism is much more focused on power than it is on suicidal you know shooting sprees I don't think it takes the same mentality it's a very different mentality Putin would find ways to have power over other people without dying Putin does not want to die so Putin might you know become a corrupt fill-in the blank in order to sustain his nihilism but it's a different it comes in a different form oops Phil asks our latest month the UK PM and his chancellor increased energy company would fall taxes from 25 to 35% apparently shell UK have declared that they propose 25 billion investment here is now very very in doubt what a surprise yes I mean this UK PM right now and his treasury secretary about the worst combination you could find they're almost guaranteed that the Labour Party will win in a couple of years these guys are losers completely no agenda for growth they have raised taxes across the board they are making it they are decreasing the incentives for companies to invest in energy production in the UK no whereas I was optimistic about the UK a few months ago now I'm super pessimistic about it because I think this government is worse than Johnson or at least as bad it's all the bad Johnson qualities without any of his quote charisma and you know they are completely selling out to the left they are completely selling out to populism they are completely selling out to fascism and they are going to destroy the UK's economy and at the same time instead of enhancing the UK's ability to produce its own energy they are going to make the UK even more dependent on I don't know France for nuclear and Russia for oil and gas or whatever the combination is alright Michael says can you do a show on bias I hear the BS all the time when presenting objective ideas well bias of the idea of objective reality is laughable that sounds an awful lot like you're blind because you have eyes yes I mean it's pure Kantianism while people can be biased and are biased that's something to overcome bias exists there are plenty of studies to show that people if they answer questions quickly a bias to be rational and this is what people don't understand this is the fundamental issue here to be rational it's just to exert effort to be rational takes work to be rational means to methodologically view a problem and analyze it and acknowledge areas where you might be biased and try to try to overcome that bias by appeal to reality and appeal to reason it's good to know about common biases so you can avoid them not so you can say oh well it's life we're just biased there's nothing we can do about it it's a deterministic view it's also a deterministic view of reason it's a deterministic view of human cognition and so on alright we're about $100 short of our goal we have 5 4 more questions so you have a chance to jump in with like $100 question or $250 questions I do have a hard stuff in 10 minutes so I'll do these 5 questions or 6 questions now with Liam but please no more $5 questions just don't have time for them if you can do a $20, $50, $100 that'll be great we'll do those Josh says I enjoy the news shows and appreciate commentary on the economy thanks Iran I'm also talking really really fast I think I think I'm trying to beat Ben Shapiro at his own game so these news things I need to slow down so I need to have fewer news items I'll figure it out in then but I've noticed I'm talking really really fast does that bother you guys? let me know if it bothers you alright James G how do you negotiate in business with investors and climates and clients to get them to see a win-win transaction how have you negotiated to win-win in business I don't know I don't have a secret sauce that I can present the best way to negotiate with people to show the value you add to them and focus on that and instead of trying to squeeze them for every last time squeeze them for everything I wouldn't negotiate like Donald Trump negotiate the art of the deal the art of screw the guy you're trying to deal with you want to focus on the value you are creating for them and why they should deal with you because you're creating a unique and special value this relationship is important to you and why you are uniquely positioned to create this value for them I think that's how you have to focus all negotiations in life Daniel I wonder how the removal of the Jones Act would impact shipping costs well it would impact shipping costs dramatically inside the US and even more dramatically it would impact the shipping cost for Hawaii and for Puerto Rico but also within the United States shipping from Houston to Boston or shipping from East Coast to West Coast all of that would be a lot lot cheaper I don't know how much it would impact international shipping costs but it would make shipping more efficient globally and it would have huge impacts on costs in the United States everything would become cheaper particularly in Hawaii and Puerto Rico but even including mainland United States because now you have limitations of shipping between US ports so Josh says usually listen to your podcast first time in a long time I got to listen live great thank you John thanks for the support and it's great that the morning programs are now opportunities for people to listen live when in the past they haven't been able to so this is very cool alright we're like $42 away from our goal of Michael says can an M2 takeover in post Atlas Shrugged World has the only reason Hitler, Stalin and Mao able to takeover was because they took power before Atlas Shrugged was published oh no I think an M2 takeover is possible in a post Atlas Shrugged World I do I hope we can avoid it I hope we can fight against it but it's certainly possible it's what Lena Pika predicts and you can see it in the culture in the United States the culture in the United States is moving towards Atlas Shrugged it's not moving towards Objectivism well it is moving towards Atlas Shrugged but not towards Objectivism it's actually moving towards an M2 World so no I definitely think it could still happen Catherine thank you even Catherine who's there to get you guys to contribute is contributing so you know if we had if half the people who are listening right now pitched in just as a what do you call it sticker we would reach our goal so Nathan thank you for the support really appreciate it so one dollar from everybody participating half the people participating but we should do 50 cents from everybody participating so everybody jumps in would get us to the goal Ryan says isn't the law in California outlawing the sale of gas cars constitutionally constitutional as it goes against the commerce clause it's interstate commerce clause look the interstate commerce clause is meaningless nobody pays attention to it the Supreme Court emptied it of all content decades and decades and decades ago there's a few big rulings that basically made that happen and eviscerated the interstate commerce clause I would say that a lot of state regulations of business a lot of federal regulation of business violates the interstate commerce clause but nobody seems to care and nobody seems to the interstate commerce clause is a brilliant clause which should save us from a lot of what the government is trying to do to us and trying to impose its will on us and it isn't because of the courts have abandoned it and one of the hopes is that some of these justices like Gorsuch and Thomas will try to resurrect the interstate commerce clause but who knows it's not where they focus all right, last question before that Vladimir, thank you messed up maths, thank you Roosevelt, thank you, they have chipped away and we're now only $16 short of a goal so they've all done stickers and chipped away and we have five minutes to go but Liam says California is very depressing and a nihilistic place the teenagers out there look completely hopeless dead behind the eyes maybe but on the other hand if you go to Silicon Valley and even Hollywood and places like that do you see incredibly productive people or San Diego with biotech you see incredibly productive people doing amazing things I will talk about the chip wars as we go along just an amazing story about extreme ultraviolet light the technology which I learned about today listening to the book which came out of it at least was just the amazing innovation in Silicon Valley so there's still unbelievable productive talent in Silicon Valley don't forget that all right, let's see we have Apollo Zeus, thank you Gale says thank you Yuan, thank you so much for the hard work and dedication for years you have taught me so much thank you Gale really appreciated Mel came in thank you Tom, thank you we basically I think by this point have made it so thank you all we made the 250 just in time thanks everybody I will see you tonight 8 p.m. Puerto Rican time 11, sorry 8 p.m. Puerto Rico time 7 p.m. East Coast time we will talk about Thanksgiving but more importantly we will talk about production productivity and productiveness we will talk about that on the show don't miss it and come with the Thanksgiving spirit in mind lots of lots of hero we want to worship our heroes and our heroes in the modern world today the ones that exist our business leaders our innovators entrepreneurs and we'll talk a lot about that all right thanks everybody I will see you tonight have a great rest of your day on Friday morning for the next news briefing we are going to take the day off tomorrow how about that a day off