In short
An internal U.S. Treasury draft warning that an AI “bubble” could destabilize the economy, plus discussion of shifting AI CEOs’ messaging on jobs, political backlash over Gen Z “laziness” claims, and housing affordability (especially data-center-driven rent/home-price pressure). It also covers Mitch McConnell’s post-heart-attack status.
Guests
No named guests appear in the provided transcript segment; it’s primarily host commentary and quoted figures (e.g., Sam Altman, Dario Amodei, Mark Zuckerberg, Jensen Huang, Alex Karp, Caroline Levitt, Jesse Waters, Mitch McConnell, Elaine Chao).
Key claims
AI firms are more entrenched than dot-com-era tech and could trigger broad shockwaves across stock markets, private credit, data-center financing, cloud providers, chip makers, and utilities. Tech leaders are softening “AI will wipe out jobs” rhetoric to avoid wealth-tax proposals. Gen Z affordability complaints are framed as “silver spoon” laziness by White House press spokesperson Caroline Levitt. Housing costs are the core driver of youth economic frustration; Trump allegedly wants housing prices to rise.
Notable examples
Nashville Zoo opposing a nearby data center; poll showing 19% favorable/74% unfavorable views of data centers. San Francisco median home price cited around $1.7M and average rent around $3,800, tied to AI wealth concentration. McConnell suffered a June 14 heart attack with CPR; details of recovery remain scarce.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOIndependent Media and Its Role
1:41 to 2:15
Discussion on the importance of independent media and its future.
“Independent media just played a truly massive role in this election, and we are so excited about what that means for the future of this show.”
AI Risks According to Treasury Report
2:15 to 3:59
Exploration of a Treasury Department warning about AI risks and its economic implications.
“Let's go and put this one up here on the screen.”
Historical Context of Economic Crashes
3:59 to 6:05
Comparing current economic fears surrounding AI to past crashes like the dot-com bubble.
“This is basically, who was president in.com?”
Understanding AI's Economic Impact
6:05 to 7:30
Discussion on the integral role of AI in the economy and potential risks.
“So everybody's in, you know, it's just like the good times.”
AI CEOs' Shift in Tone
7:30 to 8:35
Analysis of how tech CEOs are changing their rhetoric about AI job impacts.
“At least you're clear-headed about how insane this is.”
Concerns Over Wealth Tax and Economic Inequality
8:35 to 14:00
Debate on wealth tax implications and the perception of billionaires in society.
“That's where you're Why would it be the first time in history that that is going to happen?”
Wealth Disparity and Public Sentiment
14:00 to 16:30
Discussing public attitudes towards wealth disparity and taxation.
“But I believe that was a Steinbeck quote from some time in the Great Depression.”
Data Centers and Local Impact
16:30 to 22:50
Exploration of the local impact of data centers and public opposition.
“It is now a battleground in the data center race.”
Gen Z and Cultural Critique
23:45 to 28:00
Discussion of Gen Z's attitudes towards work and societal values.
“Welcome to Sabora Fútbol, the sweet and the spicy on and off the field.”
Housing Crisis and Generational Challenges
28:00 to 38:50
A deep dive into the housing crisis impacting younger generations and their inability to achieve the American dream.
“deeply patriotic, and it's vital we protect the American dream for them.”
Show all 15 chapters
Mitch McConnell's Health and Political Implications
40:06 to 42:00
Discussion on Senator Mitch McConnell's recent health issues and their potential impact on politics.
“A decade ago, the ethanol kingpin of Iowa became the king of corn in Brazil.”
Mitch McConnell's Health Update
42:00 to 43:50
Discussion about the ongoing recovery of Senator Mitch McConnell post-heart attack.
“Listen to Sabora Football on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.”
Implications of Incapacity
43:50 to 46:30
Exploring the political and ethical implications of McConnell's condition and the silence surrounding it.
“Senator McConnell is still working closely with staff on Senate business and Kentucky matters as he continues his recovery.”
Political Landscape Changes
46:30 to 48:28
Analysis of potential changes in the political landscape following McConnell's health issues.
“That's a much more, uh, that's, that's unreasonable.”
Reflections on Age in Politics
48:28 to 50:49
Discussion on the age of politicians and their responsibilities, with references to other politicians.
“So they said, if there's a vacancy, there has to be a special election.”
Transcript
Automatic transcript. May contain errors.0:00This is an iHeart Podcast. Guaranteed human. Hey, this is Chuck from Stuff You Should Know, and we're submitting our most science-y episodes for your peer review with our new Stuff You Should Know doing science playlist. Out now. You want to know about Occam's Razor? The simplest explanation is usually the right one. We got you covered. Wondered what chaos theory is ever since the first time you saw Jurassic Park? Well, come on down. So, distill a nice pot of tea, everybody, turn down the gas on your Bunsen burner, and slip into your most comfortable lab coat and listen to the Stuff You Should Know Doing Science playlist on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
0:39I'm Mange Shatikular, and I'm back with a new season of my podcast, Skyline Drive. This time I talk to scientists, biopunks, curmudgeons, blues owners, super seniors, and Goa's top cryotherapy lab to try to understand this obsession with living forever and what it means for all of us. and I get into a bit of trouble along the way. I'd say probably start bone smashing. That doesn't work. Make it look more defined. They say it works. I don't know. Listen to Skyline Drive, How to Live Forever on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. This is Michael Rappaport, and my podcast, the I Am Rappaport Stereo Podcast, is unlike any one you've ever heard.
1:17If you're looking for strong opinions about sports, entertainment, politics, pop culture, and whatever else catches my attention, then subscribe now. This kid Jafar Jackson should absolutely, positively get nominated for his portrayal as Michael Jackson. Listen to I Am Rap Report on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Hey guys, Sagar and Crystal here. Independent media just played a truly massive role in this election, and we are so excited about what that means for the future of this show. This is the only place where you can find honest perspectives from the left and the right that simply does not exist anywhere else.
1:55So if that is something that's important to you, please go to breakingpoints.com, become a member today, and you'll get access to our full shows, unedited, ad-free, and all put together for you every morning in your inbox. We need your help to build the future of independent news media, and we hope to see you at breakingpoints.com.
2:15Turning now to AI. Let's go and put this one up here on the screen. Very interesting story here from Notice. An internal Treasury Department warning is warning about the dangers of AI. So there's a draft report that allegedly exists inside of the Treasury Department. It is set to warn the risks posed by an artificial intelligence market, liking key aspects of it to dot-com that upended the U.S. economy in the early 2000s. The document, the existence and contents of which have not been previously reported, is actually a huge departure from the public tone of the administration, which is part of why it's actually important.
2:49So here's what they write. Career treasury analysts found that AI firms are more deeply entrenched in the U.S. economy than their dot-com predecessors and pose significant risk to the entire system if financial conditions change. Productivity goals are missed or various choke points stymite growth. A downturn in the AI market would send shockwaves throughout the entire economic ecosystem. The report concludes an AI bubble popping would lead to less of an immediate crash than the U.S. economy experienced in the early 2000s, but that the companies would cut back, investors would lose confidence, and the economy would likely grow more slowly should the industry falter.
3:29Quote, stock markets, private credit markets, companies financing data center build-outs, cloud providers, chip manufacturers, and utilities would all feel the effects. Trump administration officials have never voiced similar unease in public, and a Treasury Department spokesperson dismissed the findings as, quote, unvetted and not representative of the agency's policy or views. Quote, the official position of the Secretary and the U.S. Treasury is that artificial intelligence will be a key driver of America's new golden age. So they're betting the farm. This is basically, who was president in.com?
4:04Was it Clinton or Bush? Probably, oh, it was Clinton, right. So when I think about it, so it was Clinton. I guess it's a little different because he was completely on the way. Different crashes, yeah. March 2000 is really when it starts the downturn. Yeah, but if Clinton, I guess if Clinton had a future, or Al Gore or somebody would be like, the future of our economy may probably disappear. It's interesting, the future of the economy was the internet. Right, but in 2014. And just like with the railroads, the future was the railroads. Yeah, but 20 years later. The canals, eh, railroads kind of eclipse the canals.
4:34What I think is interesting is basically just the – because it's – we've all been saying this. Everybody knows it to be true. It doesn't take a genius to figure it out. However, having an internal report here which warns about this against your public positioning, this is the type of stuff which can come back to bite you in the ass, right? Because it's kind of like if I'm thinking back to – remember the bin Laden in 2001, how Bush received that briefing in August 2001. It was like bin Laden determined to attack the United States. It was totally dismissed at the time, routine part of the CIA briefing.
5:05But then the 9-11 commission happened, so people were like, hey, oh my god, how could you have done this? Or let's say in 2008, nobody, I can guarantee you, at the time of, what was it, Glass-Steagall repeal? Nobody said a word, right? Nobody, nobody was paying attention. They were like, yeah, whatever, rubber stamp, it is what it is. But after 08, everybody's like, how did this happen? So I think that this is an example, I think, of what the future will look like. And having a draft report like this, which you dismiss, I mean, it's a scandal, right? Because you're saying, wow, you guys knew that this was a problem.
5:37You didn't do anything to cap any of the problems. You had these career analysts who were warning you this, this, and this. Right now, it's all gravy. I mean, let me check where are we at today. Yeah, S &P futures, and this is pretty high. Yeah, the S &P is still up by 10 % year to date, even though we had a massive Iran war, horrific situation in the last year. it's up by 21%. We're a full-blown bull market. And it's like five years, and the S &P is up 72%, right? So that's insanity. So everybody's in, you know, it's just like the good times. But I was reading a little bit about dot-com several, I think it was a year or two ago.
6:14And I did not realize, you know, if you would invest it at the top of dot-com, the market did not reach that high again until like 2013. So it was 13 years of a black hole. You're like, oh, my God. So, I mean, America has not been through anything like that. Basically, we had that and then 08. And 08, even in terms of the recovery, it's not the recovery I think that we wanted. So the fear here, Ryan, is I think what they talk about on the back end. It's not about the AI companies going bust. It's that all the GDP spent is AI. The data center built out is AI. A lot of the big tech companies, which compromise all of the S &P 500, which is everybody's retirement accounts is all in nvidia and google and meta and all of these other companies whose entire bet is on ai i mean tesla is now trying to do ai spacex is an ai company it's not a rocket company right you know their biggest uh driver right now is like selling compute to anthropic and then anthropic and open ai alone are both going to be two trillion dollars collectively when they go ipo so all of that is just going to make up such a huge part of the economy where you're exposed no matter what, like no matter what you do, no matter what business you're in.
7:24And then that kind of capital crunch, which will come in if there's a downturn, it will have serious, serious problems for everybody. Yeah. And I, AI is here to stay. AI is going to like, you know, for better or for worse, but the idea that there won't be some pullback at minimum, that's like, what I would rather hear from a treasury secretary is like, yes, when we have these massive shifts in our economy, there is always, and Zuckerberg has said this himself, like he's like, yes, there will be some multi-hundred billion dollar investments that will be a mistake and that will vanish. Yeah, he literally said that.
8:04Yeah. It's like, okay, fine. At least you're clear-headed about how insane this is. you want to hear, whether it's the railroad boom or the internet one, that you're planning for the pullback. Okay, there's going to be a pullback. And here's how we're going to make sure we get a soft landing for the entire global economy. You don't want to hear, actually, it's going to be fine. The number is just going to keep going up and up and up. Yeah, exactly. That's where you're Why would it be the first time in history that that is going to happen? Right. I was reading. I'm not a trader. I don't know the exact details.
8:48But I was reading about this new financial product, which Calci offers, which is like a highly leveraged liquid options market, which offers more leverage than a traditional Wall Street bank. And I was like, oh, what could go wrong? And they were like, this is the biggest growth center of our company, Beyond Sports Betting. And I was like, seems bad. Isn't that illegal? Nothing's illegal now. Where's the SEC on this? It's not regulated by that. It's regulated by CFTC. So it's a different financial product. But it's the same thing. Is it regulated by CFTC or are they just doing it? Calci's regulated.
9:23Well, yeah, right. Exactly. Technically regulated. But if you go back to 06, nobody knew what a credit default swap was. Nobody. Everybody found out in 09 when they're like, how did this happen? So there's all kinds of these products which are swimming out there and commoditized car loans and all this debt. And who even knows the leverage that exists behind AI? We have no idea. I mean, if the Iran war had not happened, the number one economic story actually would have been all of these private credit markets. There were all of these private lines of credit, which were being called in by the big banks.
9:54Nobody even knew what was going on. I believe it's still happening as of today. By the way, what's also interesting about this is the tone shift in the AI CEO. So let's put this one up here on the screen. This is C3, guys. And what they talk about here is that big tech, after public opinion on AI has dramatically downshifted, is that the tech CEOs, Sam Altman and Dario and Zuckerberg and Jensen, are all suddenly not saying the quiet part out loud anymore. Now, it's no longer AI jobs. Well, AI is going to wipe out all of your jobs. It's about how AI is going to grow your job. So, quote, a year ago, the message from many business leaders was that AI was going to wipe out jobs.
10:36For the past month or so, tech CEOs have been striking a more optimistic tone. In late May, Sam Altman, who has previously predicted a seismic shift in the workforce, has now said, we've been roughly right on technological predictions and pretty wrong on the social and economic implications. Soon after, he told CNBC, our industry underestimated how much we're going to be able to keep people at the center of everything. Very big difference, I think, here. And now you also have here, they say, Dario, who in May of 2025 had said that there will be more, who in May of 2025, that AI was going to eliminate half of all jobs.
11:12A year later now says that companies, quote, can do the same thing with less resources, and that leads to things like layoffs, or they can do more with the same amount of resources, but that requires creativity. In a June essay, the executive now writes that in giving warnings of job displacement, He had wanted policymakers to have the best chance at adapting. He was not trying to be a, quote, prophet of doom and also wrote the possibility of enduring job loss remained. So softening the fall if this were to come. On Friday, we talked about Alex Karp's what people call the meltdown. That's just an Alex Karp monologue.
11:47It's not a meltdown. It's just that's how he talks on CNBC. It's called autism. There's a clear moment, though, in it that is so revealing where he's so angry at Sam Altman and these others who he calls these prophets of doom saying you're going to get us a wealth tax. And that's what all of this is about. They feel like they have been too honest. Yes. About what the implications of their technology are going to be for particularly the white collar public, which which still has some political purchase in this country. and they're going to use that remaining power that they have to implement a wealth tax exactly and he's like guys stop talking about how we're going to make everybody unemployed because they're that's making them upset and they're going to come for us now so stop so now they're going to lie to you and be like actually this is just a little agent that's going to help you out in your job there's going to be more jobs don't tax our wealth don't worry about it and in the uk that You know, they may move on a wealth tax.
12:51We'll see. And, you know, the UK was the first to move on a progressive income tax 100 plus years, more than 100 years ago. And then that kicked it off around the rest of the world. And these oligarchs have very long memories. They hated the income tax when it came in and hit the wealthy. And they are desperately trying to avoid this wealth tax. I can't get my head around why somebody like Alex Karp, what's he worth? I don't even know. 100 billion, God only knows. I think probably 7 billion. Let's see. Like, why does he care about a wealth tax? Between 12 and 16 billion. Okay, 12 and 16 billion dollars.
13:26What's he care? A couple billion? I mean, a couple, 2 %? Pay it back. I mean, look, I'm not defending Alex Farber. There's nothing he wants in this world that he can't buy unless he has some demented, well, that's probably some demented demands. Here's the populist argument. What's that? Is it Steinbeck? Was it Steinbeck who said the problem with America is that every person sees themselves something, something about like a dispossessed millionaire, something like that? He said America will never have socialism because every American thinks that they're just a millionaire who hasn't made it. I've butchered the quote.
14:02I'm sorry. But I believe that was a Steinbeck quote from some time in the Great Depression. So there is an element of it where I mean, remember, what's the book, Thomas Frank? What's the matter with Kansas? I mean, there is a genuine element of it where people are like, hey, that's not fair. These are titans of industry. These are titans of whatever. They've done all this great stuff for society. I think that might have been true even in the industrialist age where you could make an argument. And Carnegie and all those people were building all these temples to their own ego with the libraries.
14:31But these guys, they don't even pretend. It's all just like we're going to take your job and we're going to get filthy rich off of it. And they need to maybe do a little bit. Yeah, they're like, come on. We do a little better with this. So for them, they're like, hey, cool it. But their best argument that they have is like, well, it was a billion and now it's 50 million. Soon it will be one million or something like that, right? And so the average guy could be worth a million. And generally, I mean, the most conservative people in the country are actually small business owners, right? Because they're the ones who actually manage all of their own taxes.
14:59I get it. It's a literal nightmare having to do all of it. But part of the reason is that that block is usually because they're the most tax people in the country because of the way that they make money. These are some of the least tax people. in the country. Generally, the way that they try to weaponize it is about innovation, et cetera. But I think if you look at the polling for how the people feel about the wealth tax, what it comes down to is they're like, look, we get it. Maybe it's unfair to tax unrealized gains. But at the end of the day, we don't give a shit. You guys are super wealthy.
15:28We don't care anymore. We need to punish you. And when they're affecting society in the way that we are, like sometimes the problem is they argue with wealth tax in terms of like fiscal you know oh it wouldn't even be going to anything for everybody else they're like it's purely punitive and we're fine with that right they're like you know we don't care like i don't care if it gets wasted they're like we don't care if you're wasting yeah we don't like you like that's what they don't understand is people hate them and here's here's a good example uh let's put uh what the zoo thing steinbeck i think the quote you're thinking of yeah he called americans temporarily embarrassed capitalists.
16:06That's it. That's what it was. It was something like that. Yeah, they're like capitalists. They just don't have any capital yet. Yeah, it was like he said something. It was in the Great Depression. I remember he said something. It's like his essay, A Primer on the 30s. There you go. That's the Sagar endorsed essay. It should go read. He was a genuinely insightful guy. Let's put C4 up here on the screen. Griffin found this one. Perfect example. When you're going to do stuff like this, you've got the Nashville Zoo. It is now a battleground in the data center race. So let's talk about it. So before the sun has risen, they say a club leopard, no bigger than her hands, wiggles impatiently, wetting to be fed by the Nashville Zoo's animal health director.
16:45The newborn sucks eagerly, its tiny paws paddling the air with every gulp. But now zoo officials say that a planned data center just beyond the perimeter, quote, could introduce constant noise, light, and industrial activity that may disrupt the environmental conditions critical not only for the leopard breeding program, but for the more than 3 ,000 animals that call the zoo home. Now, this is a classic nimby style debate. Yeah, you're going to ruin the leopards. You're going to introduce all of this noise. And what's the argument for it? Well, this is about technological innovation. It's a zoo.
17:22It's an animal. Ultimately, it's for our kids' entertainment. But this is the problem that the AI CEOs have never gotten to. Data center for what? What are you doing for me? right? If you're really wealthy, my stock is going up. Okay. That's great. Right. But for everybody else, you're like, Oh, you say you're going to replace my job. I get a bunch of AI slop of kittens turning into dancing monkeys on my phone. That's it. Like, what am I getting out of this? Right. And that's fundamentally the problem. I think what you're getting out of it is your job getting taken. Yeah. Right. Well, according to them previously, except not now, Oh, we've changed our outlook.
17:57You actually flagged this, um, that guy you had on William Lawrence just has some polling. Let's put C6 up here on the screen. This is a new favorability that they found. Do you have a favorable or unfavorable opinion of data centers? And in his poll, he found 19 % favorable, 74 % unfavorable. Yeah, man, he's in a three-way Democratic primary in a swing district, which is currently represented by a Republican, this guy Tom Barrett, Michigan. The other two candidates are kind of these corporate Democrats who are afraid to say anything about the data centers, you know, they express concerns. He's like, no, shut down the data centers, data center moratorium.
18:38Right. And as a result, according to what looks like, you know, his analysis of his own polling, and I think we can all agree that it's pretty fair analysis, is that his opposition to data centers is the thing that is elevating him in the primary. He's probably going to win the primary, even though he's the kind of most left wing candidate in a swing district. And it's because people are like, I don't care if you call him a socialist or he was a co-founder of Sunrise Movement. I don't care if you call him an eco-socialist. He's against these data centers. I'm against these data centers. And if you're a Republican, too, he has that same poll showed that independents preferred him by 19 points over the Republican, which that that's ballgame in a swing district.
19:24if he wins the nomination and if they don't, you know, pummel him with whatever. And it's all about the data centers. So the independents are like, I don't care if you call him a socialist. And they also polled your attitudes on the Democrats, Democratic Socialism, and a bunch of other things. The least unpopular was Democratic Socialism. It was still a negative. Well, I mean, take a look at Utah and this whole Kevin O 'Leary situation. What just happened, I mean, Fox News had to apologize. He smeared these people as Chinese communist activists or whatever. And it's like really Utah is full of a bunch of Chinese communist liberals?
20:04Utah, one of the most conservative states in the country. And this is rural Utah too about what we're talking about. Like are you joking, dude? Like no, that's not what this is about. And so look, I mean I just think for them, you're talking about the wealth tax, AI, and all of that. Everybody can see the number go up, but number go up doesn't apply as much, right? It applies when you're worth$12 billion. $12 to$16 is a lot. It doesn't apply so much when you're, you know, let's say you, what is it, 50-something percent of people don't even have a retirement account. So the only number that matters to them that should go up is wages, which, guess what?
20:32It hasn't gone up. The only number you see going up is gas. That's the key point. Western economies for the last 20 years or so have been growing at about 1%. The richest 0.1 % have seen their wealth grow by way more than 1%. That means we don't have a whole lot more wealth to spread around. So as they gobble it up, there's less for everybody else. That is just, unless we can figure out a way to start growing the economy at 10%, the wealthy growing their wealth at 10 % gobbles our wealth. It's actually more than 10%. It's way more than 10%. I just gave you the numbers, it's like 20%. And as they get richer and richer and richer, they have to do something with that money.
21:19And what they do is they invest it in assets, stock market, houses, commodities. So they're buying up everything. And the power of exponential growth means they will own everything at some point in the not-too-distant future. That's the track that we're on. Unless we tax their wealth. All right. Let's get to Caroline Levitt. Hi, it's Alec Baldwin. this season on my podcast, here's the thing I'm speaking with more artists, policymakers, and performers, like composer Mark Shaman. Once you've established that you have the talent, it's about the hang. It's the pleasure of hanging out with the people that you're with.
21:57You know, Rob and I was always a great hang. We would sit in kibitz for hours and then eventually get around to the music. That's what I mostly think of when I think of him, the time together laughing. Lawyer Robbie Kaplan. The great gift of being a lawyer is the ability to actually change things in our society in a way that very few people can. I mean, you can really make a difference to causes in the United States if you bring the right case at the right time. Marriage equality. Yeah, Windsor's the perfect example. Director Morgan Neville. Film school teaches you all the wrong things about making documentary.
22:31What do you want to say? Documentary's all about your ear. What do you hear? I feel like my job is listening really, really hard. Listen to Here's the Thing on the iHeartRadio app Apple Podcasts. or wherever you get your podcasts. A decade ago, the ethanol kingpin of Iowa became the king of corn in Brazil. So we met with a lot of larger farmers, went from Bahia to Tocatines to Mato Grosso. And he brought a team of executives. They were going to help the country get in on a gold rush. Carbon and its derivatives are going to be really the next great commodity that the globe's going to trade. But back home in Iowa, trouble was brewing.
23:09If you live in Iowa, your land, your water and your voice could all be at risk thanks to a man named Bruce Rastetter. Now people are questioning if his climate solutions have anything to do with climate at all. You gotta give Bruce and the guys credit. They're Republicans. They don't give a s*** about it. On this season of Drilled Carbon Cowboys, the story of how the ethanol kingpin of Iowa became the king of corn in Brazil and what it tells us about the limits of technology and markets to solve the climate crisis. Listen on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
23:45Welcome to Sabora Fútbol, the sweet and the spicy on and off the field. I'm Daniela Duran, and this is where we get to know the people behind the game like never before. The pressure, the fame, and everything that happens when the cameras turn off. Enjoy conversations with guests like Mar Bartra. You like more Victor Aldez or Casillas? Of course. Quique Casillas, Puyol, Eipiqué. Ener Valencia. Yes, in the afternoon. The truth is that the people always play in the afternoon. The people play in the afternoon. But the dream of being a football player is that the truth is not. Sharon Escobar. Pollo Bolliceño.
24:20Andas o no con mi rodada. Estás viral con eso. Estás viral. Estás viral. Estás viral. Mandé a message. Nada más. Saludos. Fede Pereira. Si tú dices, no puedo elegir, te los zampas. I'm not a TV, but... And many more. Listen to Sabuera Football on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
Read the full transcript
25:02suit when he's swimming in a pool. What the fuck are you doing? All right, but let me put that to the side. So Jesse Waters sitting down just shooting the shit. We're here with Caroline Levitt, and in that Caroline drops this nugget on Gen Z, her fellow Gen Z, how they're lazy with silver spoons in their mouth. Let's take a listen. Some of these kids, and I call them kids because they're in their 20s, and they've never had real jobs, and they're complaining things are expensive. Yes, things are expensive when you don't have a real job. Right. Do you think that's getting traction, complaining? Unfortunately, I do, because this generation, my generation, I hate to say it, Gen Z and those younger than me have been raised with just silver spoons in their mouths, just getting everything handed to them.
25:45That's not the values this country was built on. It was built on meritocracy and hard work, pulling up your sleeves, pulling yourself up from your bootstraps and achieving the American dream. And we need to protect it with all we got. Is it laziness? A little bit. Is it because the professor said country's corrupt, it's evil, and we just need to shake them down and hand money out? It's laziness and it's the liberal indoctrination. You bring up a great point about our education system. However, I will say a silver lining. So many parents that I talk to across the country are homeschooling, are turning to private education, are turning towards Christian schools across the country because they don't want their children being taught these communist and liberal ideas slammed down their throat.
26:25It's why President Trump in the White House has advocated so strongly for school choice across the country. We want kids to be taught to love our country. They should. It is the greatest country in the history of the world. All right. I say, you know, if they misbehave, just make all these young kids join the army. Right? Shape them up. I almost had to. Or send them to Cuba. Send them to Iran. Send them to Cuba. They'll want to come back real quick. That's a good point. Okay. So if you're a Gen Z, you're mad about house prices, you're mad about gas prices, you're mad about McDonald's prices, drink prices, whatever.
26:54Whatever. Weed prices. probably, that you people are mad about. That's one I'm not going to fight for you on. But you're mad. You're mad. It's because you're lazy and you've got a silver spoon in your mouth. Now, let's put her clarification up here. She says, I am seeing a lot of bad faith actors. Take my comments from this interview out of context. So here's the full interview. Let me expound. The interview was about the rise of communism on the left. I was asked by Jesse Waters why so many young people are buying the false premise of free stuff being sold by communist politicians. My answer, a combination of laziness, yes, and the liberal indoctrination that has been taking place in our education system for far too long.
27:33These far-left educators are pumping students out of the garbage, convincing them that hard work and sacrifice won't pay off down the road because they want them totally reliant on the government instead. I went on to say President Trump is a huge advocate for school choice, blah, blah, blah. I care enough about our country to tell uncomfortable truths. It's an undeniable fact a growing number of young people in our country are falling for the lies of socialism and communism, sold to them by anti-American politicians who never built anything, offer no real solutions, are intent on tearing everything down that makes this country great.
27:59At the same time, it is true that many Gen Z Americans are hardworking, entrepreneurial, deeply patriotic, and it's vital we protect the American dream for them. That's why I'm honored to work for President Trump and on behalf of an administration that is implementing the right policies to lower taxes, less regulation, stopping Wall Street from purchasing single-family homes, Trump accounts, and the deportation of illegal aliens who are taking our housing and jobs. There is more work to do, which is why Trump and our entire administration won't stop fighting to make life better and more affordable for young people.
28:28So here's why I think that's going to fall very, very deaf. She explicitly said that they're lazy with silver spoons because they're bitching about affordability. And that's – look, really I actually think it all comes down to housing. and the more I meditate on it, the more I talk to people about it, the more radical I get actually whenever it comes to housing and like housing solutions. And this is where they just, it's funny because they talked about it endlessly on the campaign. Inflation, inflation, inflation, inflation, right? And inflation because that was, it was the bedrock of the affordability conversation, which eventually, you know, leads to people like Zoran Mamdani, which is very effectively, remember his early ads about the halal carts making it$8 again.
29:12That is exactly what people care about the most. And it's genuinely what just sucks all the money out of any of your disposable income. Because people keep pointing to, well, people make more money. It's like, well, things cost a lot more. And then the wage to income ratio, the wage to price ratio of housing, compare it to 2000, 1980, 1970. I mean, it's exponential compared to where things were before. So for people who have either student debt or let's say you didn't go to college and you're looking at your upward mobility, you do not see the same path that your parents had. That's why so many people live at home with their parents now.
29:51That's not the American dream. It might be financially prudent. It's not the dream. No, I don't think anybody wants to wake up at age 29 saying, yeah, I live at home. You know, with mom or dad, I have no ability, upward mobility. I have no ability to even foresee being able to buy a home to achieve any sort of independence. And then they complain about people saying, falling for rent or free stuff or whatever. It's like, well, in some cases, part of the reason why you may go in that more radical direction is because the middle path, which was always told that was going to be achievable for you, you know for a fact is not financially attainable in this moment in time, especially if you live in a medium to high cost of living area.
30:29It's incredible to think that Jesse Waters is the lead primetime host of the biggest kind of right-wing news outlet. and Levitt is the spokesperson for the president, the president of the United States. So these are effectively the two leading spokespeople for what was sold to the American public as a populist movement. And not just sold. I mean, it actually worked like people under $100 ,000 voted for Trump. Right. Absolutely. That has never happened before with a Republican ever. Right. So they successfully sold that to people. And if you listen to them now, it is the most bankrupt, reactionary, like.
31:12Yeah, just like Mitt Romney on steroids. Just yelling at people for being lazy. Like, what even is this? And also just so like watching those two intellectual heavyweights go back and forth, like batting around these high ideas is just kind of embarrassing. Well, did you notice that if they complain that we're going to send them to Cuba and Iran? Yeah, send them to Cuba and Iran. Come on now. That's like czarist Russia. You know, you take the peasants and send them to the front line. Or actually, even the communists did it. Stalin did it, too. It's like, oh, you complain, we're going to send you to the worst.
31:46I mean, also a little late on Iran. We already lost that war. Yeah, right. So how are you going to send them? I do think that this is important. Because, you know, this actually triggered a big right-wing meltdown. At least, like, with a lot of the influencer. Because they're not stupid. Who I noticed they ripped Levitt personally. Yes. Because they're like, you married some super rich guy. Okay, great advice. Everyone go out and marry some super rich guy 30 years older than you. Like, congratulations. And nobody was, before that. I mean, obviously she's very talented and hard worker and like blah, blah, blah.
32:16But come on. Nobody is judged, nobody previously to that had been making a whole thing about her personal life. But you can't be standing on the shoulders of married wealth whenever, and talk to people and say, you're late. And talk down to people, yeah. That's, you know, come on. Let's all be honest here. Like, you can Google the press secretary's salary. I'm pretty sure it's like$175 ,000, which here in Washington is just not that a lot of money anymore. And I think that's actually what gets to it is that even the people who work very, very hard, they – and make a lot of money. Like, objectively make a lot of money in terms of the American economy.
32:49Even they are struggling, and it's all because of housing. And yet, Trump, I miss this. I tried to be completely offline, and yet so many people sent me this that it was one of the few things I actually saw while I was off. Here it is. Trump says he wants to drive housing prices up, not down. Let's take a listen. There's so much talk about, oh, we're going to drive housing prices down. I don't want to drive housing prices down. I want to drive housing prices up. Yeah, great. Let's just bail the boomers out even more. They don't have enough money. We've got to pile it more on top of them. Let's just cut their property taxes.
33:19Let's make it even more unattainable. Yeah, he's like, people will be sad if their housing prices go down. I saw a chart going up. Housing prices going down is indicative of a healthy condition because, and again, I get it. If you bought your house, it sucks, okay? But sorry, we have a literal national crisis. You'll be okay. You have a house. Yeah, you have a house. Whereas if you look at Austin, if you look at any of the other metro areas where they permit a significant amount of housing, they were able to drop overall rents by a lot, like 13%, 14%. I'll give you a perfect. One of my friends, she lives in New York City.
33:51She was posting an apartment listing for her old apartment in 2021, which is now three times the price today for rent for the same place. Nothing else has been done. She's like, I paid X, and this is what it's now listing for. That's insanity. And this is the one which is actually beyond nuts and relates to AI. Let's put D4 up here on the screen. in san francisco this was alluding to even 180 grand tax salaries are no longer enough if you go and you this this blew me away the median home price in san francisco what do you think it is right oh god the media media just how's it san francisco's median home price according to red 1.5 million 1.7 million is the median home 1.7 half of houses sold a million is the median home price.
34:46The national median is$450 ,000. And if you go and you take a look, what they see is that the average apartment rent is now surpassed New York City, reaching$3 ,800 a month. And that's not a nice apartment. So we're talking about the average apartment rent is$3 ,800 a month with the median price at$1.7 million. They specifically point to the AI boom, they're like look uber made a lot of people wealthy but this thing is going to make people like orders of magnitude more wealthy there will be 10 000 new millionaires multi-millionaires 10 deca millionaires not to mention you know not just trillionaires like hundreds of billionaires like dario and sam altman and all these other people all the you know even as even a junior level executive off of these ipos is going to net 15 20 million so you're talking about insane amounts of wealth in this one tiny little city, which is nimby to hell.
35:44This is what happens. Now, San Francisco is a very extreme example, but it is also the rest of the nation. If you take a look at the places which build the least housing, of course, you see massive increases in home values. And at the same time, you have the boomers who live in those homes. Their only lobbying is to make sure that they have to pay less in property tax. They don't care. In fact, most of them lobby against building any new housing. And I am not one of these yimby, insane people who's like, oh, we should just build ugly glass apartments everywhere. Like, I don't think that's family-friendly or any of that.
36:22It's great if you're 22 years old, but if you're 32, like, what are we doing here? But, you know, where's the 1 ,500-square-foot single-family rancher home? They don't even exist. Nobody builds them. There's no federal government program. There's no state program. If you try to build it in a dense neighborhood, God help you. The boomers, they will do everything to try and to torpedo. You know, you be able to, oh, what about the schools or any of that? It's like, shut up. Like, you don't even care about schools. I just read a great story in the Wall Street Journal yesterday. Boomers who are bragging about living in schools that they grew up in.
36:55So they're taking schools which have been decommissioned because the fertility rate has gone down. And now converting the school into luxury apartments. And this woman who's like 65 years old said, I grew up here. It's so nice to live here. I'm like, yeah, it must be nice for you. It's nice for you. Like literally went to school there? She literally went to school there. And now it's a luxury apartment for boomers because the fertility rate's gone down and because no families can afford to live there anymore. That's sick. It's sickness. And guess what? I bet you should be lobbying to drop property tax.
37:22Not just that one particular one enraged me. Your property tax would go down if your home value goes down. Yeah, exactly. There you go. Think about that, boomers. You can think about that. I don't know. I mean, it genuinely enrages me because we meet a lot of people who do this, who watch the show and all this. And this is the number one thing we always hear about. Everybody's locked out. Everybody is locked out. They're like, man, how's it? And when people pull in, they profile people in this story who are making like$400 ,000 in San Francisco. And they're like, can't afford it. Literally can't afford it.
37:52They're like, they applied for a$5 ,000 a month apartment. And there were 38 people who applied at the same time. $5 ,000,$60 ,000 a year in rent. Can't afford it. I mean, they're like, oh, maybe I need to move or we got to do long distance. I mean, it ruins your life. And especially with now you've got in-person work mandates, which are ratcheting up in tech especially, who are all lucky to have a job in the middle of AI. So they have no negotiating or bargaining power whenever it comes to a worker. So, yeah, I have become extremely radical on the housing issue. and watching things like that when people are either drowning in student loan debt, credit card debt with no upward mobility whenever it comes to wages and a median home price of 450K.
38:37And if you look at the median home price ratio to income compared again to 20 years ago, like you got no business telling anybody that they're lazy with the silver spoon. Well, this is a huge crisis. So this is actually a good transition to our next segment. Let's see how the political system is responding to this existential crisis that so many people are facing. And let's see what the former Senate Majority Leader is doing. Hi, it's Alec Baldwin. This season on my podcast, here's the thing I'm speaking with more artists, policymakers, and performers like composer Mark Shaman. Once you've established that you have the talent, it's about the hang.
39:16It's the pleasure of hanging out with the people that you're with. You know, Rob and I was always a great hang. We would sit in kibitz for hours and then eventually get around to the music. That's what I mostly think of when I think of him, the time together laughing. Lawyer Robbie Kaplan. The great gift of being a lawyer is the ability to actually change things in our society in a way that very few people can. You can really make a difference to causes in the United States if you bring the right case at the right time. Marriage equality. Yeah, Windsor's the perfect example. Director Morgan Neville.
39:50Film school teaches you all the wrong things about making documentary. What do you want to say? Documentary is all about your ear. What do you hear? I feel like my job is listening really, really hard. Listen to Here's the Thing on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. A decade ago, the ethanol kingpin of Iowa became the king of corn in Brazil. So we met with a lot of larger farmers, went from Bahia to Tocatines to Mato Grosso. And he brought a team of executives. They were going to help the country get in on a gold rush. Carbon and its derivatives are going to be really the next great commodity that the globe's going to trade.
40:28But back home in Iowa, trouble was brewing. If you live in Iowa, your land, your water and your voice could all be at risk thanks to a man named Bruce Rastetter. Now people are questioning if his climate solutions have anything to do with climate at all. You got to give Bruce the guy's credit. They're Republican. They don't give a s*** of money. On this season of Drilled, Carbon Cowboys, the story of how the ethanol kingpin of Iowa became the king of corn in Brazil, and what it tells us about the limits of technology and markets to solve the climate crisis. Listen on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
41:07Welcome to Sabora Fútbol, the sweet and the spicy on and off the field. I'm Daniela Duran, and this is where we get to know the people behind the game like never before. the pressure, the fame, and everything that happens when the cameras turn off. Enjoy conversations with guests like Marc Bartra. ¿Te gusta más Víctor Oraldez o Casillas? Claro que... ¿Y qué Casillas? Puyol y Piqué. En el Valencia. Sí, en las tardes, la verdad que siempre se forman los pueblos, se fuman los partidos en las tardes, pero el sueño de ser futbolista ese, la verdad que no. Sharon Escobar, Pollo Boriseño. ¿Andas o no con mi rodada?
41:44Estás viral con eso, estás viral. No, but I sent a little message for a greeting. Fede Pereira. If you say, I can't choose, you're going to be a fan. I'm not a TV, but... And many more. Listen to Sabora Football on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
42:11We haven't heard much about Senator Mitch McConnell lately. Let's throw this up here. According to the Associated Press, he's continuing his recovery, but details are scarce after a lengthy hospital stay. Sagar, I think the word recovery there is doing an awful lot of work because as you and I and probably our viewers understand the word recovery, it suggests that there's some physical therapy going on. and you're working toward recovering your health or some version of it. That does not seem to remotely be the case. Let's put up A2 here. So what happened is that Mitch McConnell suffered a heart attack at home on June 14th.
43:01When paramedics finally got there, they immediately began performing CPR. CPR was, you know, they continued to perform CPR on his way in. If you have a heart attack and you're at home at McConnell's age, and by the time EMS gets there and they find you unresponsive and begin CPR, your brain by that point has been without oxygen for so long that the likelihood of you kind of recovering consciousness is just vanishingly low. He's 84 years old. 84 years old. There's no evidence that he has regained consciousness at any point since then. Here's what his spokesperson says. Senator McConnell is still working closely with staff on Senate business and Kentucky matters as he continues his recovery.
43:58However, he will not be voting this week that was his spokesperson david pop and that was actually given on july 1st so that was six days ago as of what he said now the more recent one is that he is continuing his recovery they offered no explanation working with his condition really well look i mean part in the old days maybe you could take that to the bank in a post diet diane feinstein world come on all right we all saw it we watched it who was it who leaned over and was like, just vote yes. I couldn't believe that. And she looked at the way that she looked. And she died a week later. It was disgraceful that they did that to her, that her staff sat around and dealt with.
44:38I mean, all of it. It was outrageous. And the circumstances of this are nuts, because this is a United States senator, an extremely powerful person, who, you know, if he's incapacitated, then his people should say so. Maybe even his wife. And yet, let's put this next one up here on the screen. Xi is in China meeting with senior members of the CCP after his hospitalization. Three days after he received CPR, Elaine Chao is now currently in Beijing and met with the Chinese vice president days after hospitalization. Chinese media shows Chao sitting across from Zhang on June 17th, discussing efforts to strengthen China-U.S.
45:24relations. Remember, you'll recall, if you've been watching this show for a long time, Elaine Chao is the daughter of some Taiwanese shipping billionaire who is extremely close to the Chinese Communist Party. The entire thing has always been objectively bonkers whenever it comes to his wealth, or his power and her extraordinary wealth and ties to a foreign government. But, I mean, who does that? Like, your husband's in the hospital, and you're in China? What's going on there? No explanation. no but like the point about this you know we're just talking about the housing thing they just feel it's our business you have you have no right to question it did you see remember we we talked about that congressman who was missing for like three months and nobody said where he was his staff and all that he said i had depression yeah you can't take three months of work bro just tell us that just say i'm deeply depressed i couldn't work i mean to be honest with you like that's outrageous.
46:22I mean, how many blue collar guys do you think are depressed and they don't want to go? They don't get three months off. I couldn't take three months off. No, we wouldn't know that. I had a baby. I took one month off. That's a much more, uh, that's, that's unreasonable. And, you know, I get, I know we own the company. I guess I could do whatever I want. I wouldn't do that, but it's like, we would just shame you every day. He's depressed. He's too depressed to work. I mean, that's okay if it's true. Uh, but you know, I don't know. I mean, is that, really be tolerable? Maybe you should resign. Should the people of your district just have three months of no representation?
46:57And that's a crazy case. But in this particular case, it's like, so the wife offers no update. The senator offers no update. The staff apparently just thinks that we can all live in limbo for 21 days and just say, yeah, he's recovering. And we have no idea whether any of that is true. There's no proof of any path to recovery. And so look, there's all kinds of rumors that are circulating out there. Thomas Massey, Let's put his tweet up here on the screen. He says, is America ready for my term limit legislation titled three strokes and you're out? I'm with you, Thomas. I am totally with you. Three strokes.
47:35You know, a modest proposal. Just three strokes. You know, just not one, not two, but three. You have three strikes and you're out. It's crazy. The entitlement. He's an 84-year-old man. Literally went on camera. Can't speak. What are his children doing? You know, you don't say anything. Your wife, your family, nobody says, like, hey, you got to hang it up. I remember saying this with Biden. I go, does anybody love this man? If you really love somebody, how could you let them do that, you know, out in public? It's just, again, the gerontocracy, their clinging to power, their narcissism, how the office serves them.
48:07It's never about serving you. It's all on display. and the same thing. Now, if McConnell is incapacitated or does die, then under Kentucky law, there would have to be a special election. They changed their rules back in, I think, 2024 to strip the governor because they had a Democratic governor. Yes. So they said, if there's a vacancy, there has to be a special election. No gubernatorial appointments. And this was when McConnell's health was failing then, too. This was understood to be about McConnell. So if if he is incapacitated, there'd have to be a special election. And that's where Thomas Massey comes back in, because he would be able to mount a short term kind of independent campaign.
48:52You know, it's, you know, everybody running in the same field. And that could draw votes away from the Republican and elect a Democrat. You could even plausibly see a world in which Massey won. Now, he'd only be in office for a couple of months. McConnell is not running for reelection. Right. His term is up at the end of 2026. to early 2027. But if McConnell is kind of on some sort of life support and being kept alive to keep Massey out of office or out from running, that is exactly what Mitch McConnell would want. Oh, absolutely. So that is, those are his dying wishes to make some petty partisan move with his ailing body.
49:33His dying wishes are to, I don't know, like fund Ukraine for until the end of time. and - To block Massey from - Look, again, I don't want to besmirch an 84-year-old man who is in bad health, but that's why you should have left a long time ago, right? You made it our business, man. You are the person who made all of this our business. You could have left with dignity. You ran for re-election at 78. You ran for re-election. You were 78 years old. That is disgraceful, especially whenever you were already having lingering health problems, and you had multiple health incidents on camera and still stayed in office.
50:09It's crazy. So don't you want to do anything else with your life? I kept thinking about that in Maine with Susan Collins. Because how old is she now? She's like 70-something. Yeah. She had previously pledged. What did she do? Pledged only two terms. I'm telling you guys. She's 73. She's 73. You want six more years? One of the most gorgeous places in the world, in my opinion. Just my opinion. And I'm like, she's a multimillionaire, I have to assume. Because they all are. Yeah. Retire. She gets great out here. Enjoy yourself. She's some lobster. You know, some oysters. What else do you need? It's like you got sunshine.
50:44It's like you're in the middle of the woods. Go on a hike every single day. Go see the world, not on a CODEL. Yeah, go see the world. You can even fly first class. You don't even fly economy. She can fly private. She's so rich, she can fly private. She can see the world and vacation every summer in Maine. She just needs to be a lockstep vote for Trump instead. Yeah, right. And be very concerned about all his behavior. What is the psychology of these people? But that's it. They're raging narcissists. Tom Harkin, who I actually would have on the show soon. Who's Iowa, right? Yeah, Iowa Senator. He was the leader now.
51:16American hero. Well, he ran for president. Was he ever leader? I don't know. I don't know. He was very powerful. I remember that. Lion of the Senate. And in 2014, he's like, you know what? I want to retire, and my wife and I are going to sail around the world. And it cost Democrats to seat. But, you know, good for Tom Harkin. In retrospect, heroic, honestly. Joni Ernst is only a senator because of that decision. Oh. Or was a senator. That's right. That's right, because it was in the Tea Party time. Yeah. Okay. Interesting. All right. Good bro show, Ryan. The People will have another bro show tomorrow.
51:46So we will see you all then. We're about to go do our AMA. So there we go.
52:06Hey, this is Chuck from Stuff You Should Know, and we're submitting our most science-y episodes for your peer review with our new Stuff You Should Know doing science playlist. Out now. You want to know about Occam's Razor? The simplest explanation is usually the right one. We got you covered. Wondered what chaos theory is ever since the first time you saw Jurassic Park? Well, come on down. So, distill a nice pot of tea, everybody. turn down the gas on your Bunsen burner, and slip into your most comfortable lab coat and listen to the Stuff You Should Know Doing Science playlist on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
52:41I'm Mungesha Tigular, and I'm back with a new season of my podcast, Skyline Drive. This time I talk to scientists, biopunks, curmudgeons, blues owners, super seniors, and Goa's top cryotherapy lab to try to understand this obsession with living forever and what it means for all of us. And I get into a bit of trouble along the way. I'd say probably start bone smashing. That doesn't work. Make it look more defined. They say it works. I don't know. Listen to Skyline Drive, How to Live Forever on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
53:25If you're interested in whatever else catches my attention, then subscribe now. This kid, Jafar Jackson, should absolutely, positively get nominated for his portrayal as Michael Jackson. Listen to I Am Rap Report on the iHeartRadio app, Apple Podcasts, or wherever you get your podcast. This is an iHeart Podcast. Guaranteed human.
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Ryan and Saagar discuss AI CEOs panic over job losses, WH Press Sec says GenZ is lazy, McConnell still missing after heart attack.
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