 So let's jump right in this morning. We all woke up Luckily, I'm not flying anywhere to this morning because this morning we woke up to a grounding are basically all All air traffic in the United States was grounded this morning because the FAA federal Aviation something was had a computer glitch I guess the computers crashed and every single plane in the United States It wasn't already in the air I guess was grounded because this is the system that basically coordinates at the federal level How everything is done and provides information and does all this and it broke and Not just one airline not just two airlines every single airline in the United States had to be shut down talk about systemic risk I've always said there's no systemic risk in a free market Systemic risk is government cars systemic risk is a product of government. That's true in finance That's true in airlines. That's true in everything Because the government has a monopoly and the FAA is a monopoly and and I thought this was particularly interesting because you remember a few weeks ago when Southwest grounded thousands of flights because their computer system couldn't keep up and it broke and they couldn't coordinate They couldn't get the people to the right place and nothing worked and and immediately Buttinge bootlegia, whatever his name is like the secretary of transportation said, oh, you know, we're gonna start an investigation We're gonna investigate. We're gonna find out what happened. Maybe we need more regulations Maybe we need more controls. Some people on the far left even said We should nationalize the airlines. This is ridiculous What the airlines are doing this is how about remember there was a massive storm and with over thousands of flights and coordination and software broke Well, it turns out the government software breaks, too and When government software breaks not one line line not two airlines every ally Grounds to a halt and maybe maybe we should launch an investigation Maybe the airline should launch an investigation and maybe we should start considering thinking about how about privatizing the FAA privatizing the functions of the FAA It is long overdue. It doesn't mean they won't never have a break It doesn't mean that everything will go smoothly all the time but It's not a function of government What the FAA does Everything the FAA does can be done By private enterprise all the FAA really does is violate the individual rights the property rights of Airlines their owners all of us flying on those airlines and This is a This is this would be a good time to privatize the FAA and of course They'd be competition. They wouldn't just be one FAA. They'd be competition one system went down Maybe other systems covered maybe only a part of the United States would go out not the entire United States They wouldn't be just one monopoly FAA like there is today. They'd actually be competitive FAA's and Then they'd have an incentive to have the best computer system now again Southwest is competitive and it's still broke So they can still break even when you have competition But Southwest is just one airline other airlines responded better FAA fragmented FAA Competing FAA's some of the system would go down. It wouldn't be systemic. It wouldn't be the entire country Brian says supposed to fly to Puerto Rico Puerto Rico where I am for vacation this afternoon fingers crossed Yeah flights are back up so FAA fixed the problem flights are flying again It wouldn't be surprised if he had delays, but you're probably a fine in terms of in terms of Flights going back up At least I assume so unless they're the other you know knock-on effects of of what happened Thank you for listening or watching the Iran book show if you'd like to support the show We make it as easy as possible for you to trade with me. You get value from listening. You get value from watching Show your appreciation you can do that by going to your own book show comm slash support I go to patreon subscribe star locals and just making a appropriate contribution On any one of those any one of those channels also if you'd like to see the Iran book show grow Please consider Sharing our content and of course subscribe press that little bell button right down there on YouTube So that you get an announcement when we go live and for you those of you who are ready Subscribers and those of you who ready supporters of the show. Thank you. I very much appreciate it