We've got TDS on the left. We've got Schadenfreude on the right. We've got economic euphoria, something absolutely insane happening with Bitcoin. People on the left promising to hide undocumented people in their attic.
And some pretty rough stuff with people's negative reaction to the Trump election. And joining me today is my producer Drew. Drew, what you read on this moment now? What's up, Tom?
It's been a week. It has been a week. People have been excited. I have seen too many clips of meltdowns.
I have seen people cheering. It's like, have the country think they won the Super Bowl? And I'm like, hey, guys, he hasn't been in office yet. He hasn't been in single policy.
Let's take it. Take a step back. I get you're excited. But I was one of those people walking the streets on Obama's elected.
So I can't be a hypocrite. So how do you feel? I am very middle of the road. I try to at all times be sanguine.
So to your point, I'm glad that he got elected. I think that there's a lot of work to be done. I think that it is going to be exceedingly messy. I think people are going to be fighting against this the whole way.
The thing that freaks me out right now when I look at the reactions that people are having is very much a tenor of I want to prove the world that I was right. And whether you're on the left or the right, people just want to be right. And that drives me crazy. You ought to and I use that in the moral way.
You ought to look for the thing that leads you towards the desirable outcome. And if that is human flourishing for all of us here in America and hopefully as many people around the world is humanly possible, you should be looking for the thing that actually leads you there by a metric that you can actually judge. And right now what I see is people either crying about the fact that they're side lost and again, Orange Man bad and I think that he's Hitler or it's this big dunk fest of like, oh, you guys are a bunch of morons. You were leading the country in the wrong direction.
And it's like the reality that we could end up in a civil war did not go away because Trump got elected. So I think people have to be extremely desirous of finding a way for us all to reconnect. And if that isn't the vibe, we're going to have a problem. And right now it's very much not the vibe.
All right. So Trump has now already started. He's assembled his team. Telsi Gabbard is now the director of national intelligence.
She will be running all 18 of his bi-agencies. Did you know that was 18 bi-agencies? That's crazy. That's not.
That's crazy. Elan and Vivek are now running up the Department of government efficiency. Those officially has a department RFK still missing from the headlines. But I seen your tweet with Elizabeth Warren.
You already have kind of a take on the Department of government efficiency. What do you think of these appointments so far and how Trump is assembling his government? I could not be more excited about Elon and Vivek working together. Now, I obviously am wildly biased towards entrepreneurs, but that's from somebody that's had to do it and I'm not a natural born entrepreneur.
So I learned to do all these things. So I know what it takes to become good at this thing. And what you have to do, one of the things that an entrepreneur has to get good at is capital allocation. You have to be efficient with your, with where you deploy money, where you deploy human resources.
And so I think you have two of the greatest living entrepreneurs right now. Elon is the greatest entrepreneur bar none. And when I see people respond negatively to that, that's where I get crazy. When you look at how difficult what those two guys have done individually, you roll them up together.
Absolutely absurd. Like anybody, you can dislike them. That's fine. But to call into question what they've achieved is crazy.
And if you take the lens of I know what it takes to be that efficient with humans, that efficient, with capital to look at things from an engineering perspective, those are the people that you want focused on the government. And so my response to that tweet was, Elizabeth Warren had said, Oh, government efficiency, this is crazy. It's two people doing the job of one person. It's two people doing the job of God knows how many people it takes to go through every line item and make a decision about it.
It's, it's literal lunacy to look at that. In fact, it's not lunacy. It is partisan hackery. It is somebody who wants to take control of the frame of reference of what's happening here to tell people, okay, I may not be able to control what you're looking at, but I want to control what you see.
And what I want you to see is that this is the job of one person. Two people are doing it. It's already inefficient from the jumps. No matter what they do, this is going to be bad.
Instead of saying, look, I think we can all agree that no organization, literally none, is operating at a hundred percent efficiency. So can we get incredible minds to look at this problem and make suggestions? It's not like Elon and just are making changes. That's not how this is going to work.
They're going to make recommendations. So they're going to go in and make things transparent, which any drew anyone that wants things to be hidden behind something, that is somebody that's trying to control the narrative. They're not trying to make sure that everybody can see what's happening in plain sight. And one of the first promises that they're making is they're just going to make this stuff transparent.
Now look, I think Elon's right, it's going to be devastating when you see some of the wasteful spending, but it's also going to be kind of hilarious. Like when you see like the way that people can take it out of their desk, it's going to be crazy. So my whole thing is what I want people to be able to do is understand when somebody makes a comment like that. This is two people doing the job of one.
This is already inefficient. Understand why they're doing that. They want their side to win. They do not care about a positive outcome.
If they did, they would be thinking it's not about whether my side is the one that comes up with the right answer. It's about a KPI. What is the metric by which we're going to judge? KPI, because a lot of people.
Sorry, I keep saying that. I should also say by the way, for people who think that I'm talking over my guest, this is true, the producer who sets me up to talk about these things. I promise this is the format of the show. And a KPI is a key performance indicator.
So you need something that says this thing is going well. And in a business, you're trying to pull the scales off of your own eyes. You're trying to find out are we actually doing the things that are going to make it possible for me to serve my customer and serve my employees. Now, this is one of the things that really bothers me about, oh, companies are evil.
I do not know many entrepreneurs who have a first thought other than I want to make sure that I take care of my employees. Like you go to bed, like wanting to make sure that you can take care of the families of all the people that are working for you. You feel this tremendous sense of obligation. And you know that rule number one is you have to protect the organism.
And that's where sometimes you have to let people go. But even Elon is not going to be gleeful about letting people go that are doing a good job. And if people understand that we need to want that from the government, we need to want the government to serve the people. We want to take care of the people inside of the government.
But at the same time, we have to think of the organism as a whole right now. And for the organism to continue to thrive, we have to recognize that we are Thelma and Louise right now, our foot jam down on the accelerator and we are rushing towards a cliff. And so when you ask about what KPI should we be paying attention to, to me, this is very simple. Do you have a balanced budget?
Are you taking in more in tax revenue than you are spending? And are you creating a pro business environment because it is businesses that the current economy worldwide is based on. And if you do not have those companies for all of the frustrations that one can rightfully have with capitalism, if you don't have those companies, then you have nothing. Like the all of the things that we see from air conditioning units to cars to satellites, all of that stuff, all of the modern conveniences that we have have all been born out of the business.
And so if people say, I don't need my team to win, I need us to move towards this KPI. I care a lot more about the average American feeling like their child's life is going to be better than theirs. And if you don't want to be down to something, it's that. And I think that's really what the vote for Trump this time was.
That, hey, I think getting him in office is going to be better for my kids, that their life will be better than mine. And if we can document that KPI, like turn that into a number, then we can steer towards it. But right now that isn't the goal. The goal is my team good, your team bad.
And that's a great metric to kind of put it because I think a lot of times we get caught up in political speak of the unemployment is down, groceries are this, grass prices, and we're kind of using these artificial numbers on the timeline, but we're not actually thinking about the actual Americans every day, day, day. In the 90s, I had one job, I could buy a house, I could have three kids. In 2020, I have two jobs and I Uber on the weekends and I'm still trying to figure out how to get out of it. And although unemployment is at its lowest in history and the economy is the highest the stock market has ever been, there are still Americans who are crying in their cars on TikTok.
We see it every day. They're not feeling like they're getting ahead. And that brings me to our What If All His Sweet, which I did, I do have to kind of give the disclaimer, I will look through the WHO numbers. This is from What If All His, shout out to him, friend of the show.
Apparently, 3000 people have taken their lives due to the election. 3000 people have committed to a size due to the election. And they're making a decision that number was fact checked and it was brought down to 1500s. And they can't actually say it was directly related to Trump.
But but but I will have to shout out the 4B movement, which is the women that you see shaving their head, valuing abstinence saying they're divorcing their husbands. They're making a societal move because of the result of this election. And we even had one guy do a murder suicide, killed four of his kids, three of his kids and his wife. And he went on an anti Trump raid the day before the election.
So it was one of these things that people are actually whether they're excited that their new person is in or they're so devastated that they're going to a point of murder and suicide, people are hurting. So what do you say to the people that are in this emotional storm where their team might have one and they're excited and they're ducking on people and they're making fun of other people's misery or on the other side where people are so sad, they're literally thinking about taking their alliance. I have seen you literally talk somebody off the ledge mid stream. So how do you talk to those people who are really struggling in this moment?
Oh, okay. So big question. So first, if I'm trying to talk somebody away from a move like that, I'm immediately going to go to your having a biological experience. The reason that I want to ground them in that is we all live inside the matrix.
The matrix is our own brain. So even if this really is real world and it's not matrix code, the analogy of the matrix is perfect for the reality of your brain. So your brain, you're only able to perceive 0.0035% of the electromagnetic spectrum, which means your brain is filling in a lot of gaps. It's making you believe that you see the whole picture, but you really don't.
There's a dime size hole in your field of vision, all that. So I get somebody to understand your brain is tricking you. Now, most of the time is tricking you for your benefit. Right now, your brain is tricking you to the negative and it's making you believe that you will never be happy again.
And if you truly were never going to be happy again, I understand why somebody would take their own life. Nobody wants to live in that misery. So you have to get them to anchor on that first. And I want people to understand that when you're in that state, you are quite literally mentally unwell.
And just as if you had a knee problem, you would go get the knee problem fixed at a biological level, you want to get that under control from a biological standpoint. Now, hopefully there are interventions that you can do that stop shy of drugs. But hey, if that's where we got to go to rebalance to get equilibrium, then let's go there. So that's the genuinely where I start.
Now, for somebody that's really deeply distressed about this, just keep in mind that more or less, no matter who gets into office, you still control your destiny. I think there's a reason to be thoughtful about who you put in office. I cared very much about who won this election. But I also know not to trust myself in that I have a worldview.
I'm going to stand up for what I believe. I'm going to say what I believe. But if somebody said, Hey, Tom, here's a magic wand. And if you wave this magic wand, everyone will do what you tell them to do.
I would say that would be the worst thing I can imagine for ensuring that human civilization thrives moving forward because reality is everybody's blind to something. And the very thing I want is friction between ideas. So hey, person that is struggling. Just know that the friction between the ideas is actually where the magic happens.
You want a dynamic tension between both sides. And if you can understand, you still control your destiny, it's probably good that we have this friction. The other side one right now, you do want to ask yourself why is there something that you are missing? What is it that they see steel manning the other side, making a case for them, I think is really compelling to better understand your own position about why you think what you think.
Okay, when you do that, now you're going to get a really clear sense of what you believe because you really understand the other side. Okay, I really believe this thing. Well, what predictions does your hypothesis make and can we measure it? So now it's like, you don't have to worry about railing against the other team.
You can start focusing on policies and outcomes, policies and outcomes. Okay, so what's the policy? What's the outcome that they're predicting from this? And then did that policy yield that outcome?
Yes or no? Yes, yes, does it? And it's a positive thing. It's the thing you wanted.
You didn't come from your side and if you care that it didn't come from your side, now you've got your finger on that's that's a you problem because now you're saying, I actually don't care about the outcome. I care about it being my team that came up with this idea. No dude, most people live there. So this really is where most people are stuck.
They just need it to be their idea. They just need it to be their team because they are driven by invisible goals, invisible markers of self esteem that they've never even pulled into their conscious mind. And so they're going to steer by the people do my idea. Did they validate me?
Did my team win? Am I validated because I was on the right team? Okay, that's where a lot of people are stuck. But going back to you can't control the outcome of an election, you can cast your vote, but what you can control is how you respond to it.
You can control what you do. I built a billion dollar company in the great recession. Now of course, everybody told us that we were crazy. We were leaving software, which was like, that's how you get rich.
We were leaving software to go into manufacturing, which people are like, you're out of your mind. But we had an outcome in mind. We wanted to end metabolic disease that felt worth pursuing even if we failed, right? You know my question.
If I've never said it to the audience before, the right question to ask yourself in a turbulent moment like this is what would I do and love every day, even if I were failing? Go pursue that thing, right? So no matter who's president, you're going to be able to pursue that thing that you really believe in. And so if you can get people to orient around the things that they control, that they can contribute to other people and make other people's lives better, that they can actually measure KPIs and go, this is the thing that I care about.
Are we actually moving towards that? And if we're not cool, then you talk about that and you say, these policies are not moving us towards human flourishing or whatever their thing is. And it becomes a call and response game. This is what won.
This is where it's taking us. This is what I want. This is how I think we get there. And you can argue over those things.
And it becomes the friction that I was saying we should want where it's like, this is where they're going, but this is what I think they should be doing. If you can orient people around that package, they're going to be, they're going to feel positive because they'll feel like they've got enough that they can control that they can keep moving forward. They've got a metric by which they can judge success. And it doesn't matter what team they're on because we all just want to get to the same place.
Hold tight. We're going to take a quick break. Let's talk about the most powerful force in wealth building compounding. There's a reason that people have talked about this forever.
You put an asset to work. It generates more of itself over time. The curve bends way in your favor. Every serious wealth builder knows how compounding works.
Most gold owners though have completely opted out of it. Monetary metals changes that equation. They've built away for your gold to earn yield paid not in dollars, but in more physical gold up to 4% per year. More ounces stacking every single month compounding and one of the only assets that can't be printed inflated or debased.
And storage and insurance are included by the way. So hidden fees don't eat your yield. The average person is passively absorbing inflation. This is how you compound your way out of it.
Click the link in the show notes or visit monetary-metals.com slash impact to learn more. This is a paid advertisement. Let's talk about money you're leaving on the table. Every time you pay full price for a health product out of pocket, you could be missing out on 30% savings.
There are over 40 million HSA accounts in the US holding $159 billion in pre-tax dollars. That's where TrueMed comes in. TrueMed helps qualified customers use pre-tax HSA dollars on health products that can qualify as medical expenses under IRS guidelines. You complete a health survey, TrueMed handles the documentation and the purchase.
And you can save an average of 30% on products like 8-sleep, Peloton, AG1, and others that studies show can treat or reverse many common chronic conditions. Stop paying full price for products your HSA was built for. Go to truemed.com slash impact and check out what things you want that may qualify. It takes just a couple of minutes.
TrueMed is for qualified customers only. HSA FSA tax savings vary. Let's talk about the worst investment most guys make on repeat. Cheap clothes.
You buy them, they look fine, but six months later, they're pilling, shrinking, or just falling apart. So you replace them. You do it again. And again, you're spending more over time and you never actually have anything worth keeping or wearing for that matter.
That's the whole model behind Quince. I've got one of their 100% pima cotton teas and the quality is immediately obvious. From the second you pick them up, they're soft, well constructed. The kind of thing that holds up over time and that is the point.
Refresh your everyday with luxury you'll actually use. Head to quince.com slash impact pod for free shipping on your order and 365 day returns. Now available in Canada too. That's quince QU I N C E dot com slash impact pod for free shipping and 365 day returns quince.com slash impact pod.
We're back. Let's dive right in. So I'm going to say that when my old managers gave me that E plus R equals O, you can't control the E which is the event. You can't control the O which is the outcome but you can control the R which is your response.
So you should always kind of ground your response no matter what events or outcomes happens. Which bring me to a tangent. I've seen a lot of discourse about people saying they're cutting off family members and I'm going home for the holidays because of this election. Please please please.
I'll say these in all three cameras. Donald Trump, Kamala, whatever side you want. I promise you, if you are out on the street, they won't take you in but your family may. So please don't cut off your family because you think somebody that lives 3,000 miles away, that lives in a big white house is your is on your side.
That's just my other tangent. We have this period of morning in clip which shows how some people are reacting to Trump and how some people are deciding to fight back. Could we cue that YouTube one up? I've got news for our friends at the Ballwalk Podcast.
That strategy will not include indulging this bizarre and frank fantasy. Mobilize the resistance. And I think it will be with the resistance. I'm prepared to put undocumented people in my attic.
I call BS on that. I'm sorry. As a son of immigrants and I have some illegal cousins that are roaming this country right now, I don't even want them in my attic. I'm a stranger from Pierce Morgan is going to happily open their doors to them.
I call BS and Richard signaling. How do you feel about this? Okay. So one, I really tried to find that clip that he's pulling up from because I want to see the full context.
So just because it drives me crazy when people pull stuff out of context, reacting to the part that I can see, it is absurd in not that he would take them in because from his worldview, like if you really believe Trump is Hitler, that this is that moment that you told yourself drew, I would be the one that took and frank in. He's like, Hey, I've got a chance to prove it. And maybe he really will. The way that it would play out though is all of a sudden he'd realize, Oh, there's no SS at my door.
You don't need to hide this person. There is a process that people go through. They came into the country illegally. The Donald Trump's ice is going through this procedure, this policy and you can debate that policy.
You can push back on that, but putting people in your house is one, not going to solve the problem. And two, I think people are very quickly going to realize that this is the worldview that they have concocted, that this is a moment that has to be resisted massively. It isn't accurate that there's no point at which the rubber meets the road on this. Now the interesting thing is it is possible that the world he wants to live in is one where there are no borders whatsoever, that people can flood into the country as they should, that we have a moral obligation to welcome those people in, in which case he really is right.
And so with that, I'm just, I become baffled because I think people have to build their worldview, one, they have to understand that their worldview is constructed, that it's based on a set of beliefs and values. And so those beliefs and values make predictions and you can run his predictions. So he has a prediction. For that to make sense, he must believe the following.
You have a moral obligation to welcome anybody in from wherever, for whatever reason, and just let them into the country. And history will show you that if people don't assimilate, the culture collapses. And at the risk of being a cliche and talking about the fall of their Roman Empire, you don't have to look very far to realize that what keeps a country going is not the letter of the law. It's the fact that people believe in the letter of the law.
And so to look at what America has accomplished to become the most prosperous, to become the most equal nation on planet Earth and to think, oh, the culture that gave birth to this is so rotten that we should let it be absolutely obliterated. To me, just doesn't make any sense. It's like Matt really wrote a book called the rational optimist. He said, you cannot look backwards at whatever 50,000 years of forward progress and go, tomorrow is going to be worse.
And that was always a very anchoring idea for me that you can't look at the history of this nation, which went from slavery to having a black president and go, oh, there's something so corrupt about this culture that it doesn't lead anywhere good, right? We started in a horrific place, genocide to get the country followed by slavery, but yet there was ideals that were put in place that led us now to the point that we're at. And to look at all of that and go, oh, this is going to end somewhere bad, I think doesn't make any sense. Now, if we had four years of Donald Trump literally being Hitler, then okay, but you don't.
You have him covering as a moderate. What does that mean governing as a moderate? Because I think a lot of people, they see Trump with those Hitler headlines. They watch the same outlets that call Trump Hitler that compares all this policies to Hitler as I'm thinking of the Muslim ban.
I'm thinking of the eight countries I run that list that I didn't want people in. And they do see to your point, a through line of he's Hitler like. So what do you mean that he governs as a moderate? Okay.
So first, I think we have to define what Hitler actually did. The things that Hitler did were so insane. So first of all, he had what were known as the brown shirts and they went around and literally beat people up and stopped people from organizing and opposing their thing. So actual, just literal thugs roaming the streets.
They did crystal knocked, which was go around and basically smash every Jewish own thing that you can imagine. They burned down, I forget the name of the building that they burned down, but they tried to blame it on the, in fact, I think it was burning that building down. And this is where I'm going to need what if all his to a fact check me here, but they burn a building down, blame it on the opposition. And I think that's what triggered crystal knocked was they use that as the excuse to go in and smash everything.
I mean, and then obviously putting the Jews and ghettos and the gypsies and then exterminating them. I mean, it's just, come on. Donald Trump compared to that, I think we can agree is extremely moderate, extremely moderate. So saying that we're going to restrict the people coming into the country that we're going to put bands from different countries coming in.
You may not like it, but compared to taking your own citizens, stripping them of everything, robbing them of all their belongings, blaming them for the woes of your country, which had nothing to do with them whatsoever and had everything to do with losing World War and so when you start getting into the nitty gritty of what Hitler did and you start watering that down by comparing it to somebody who went through the democratic process and look, everybody's going to zoom in on January 6th. Happy to have that conversation. But to keep scope from getting crazy, use a democratic process would talk very bombastically, but was not passing insane laws. When you look even at the border when Trump exited and Biden came in, they may change us that where I would say far more radical than Trump wanting to build a wall.
Like wanting to stop people from coming in feels way less radical to me than just letting anybody and everybody flood in. And so if people want to point out the policies that he did that they think are truly hit larian, not rhetoric, actual policies that he put in place that are truly hit larian, I'm happy to go one by one. But yeah, he was fiscally on par with everybody else, terrible and money printing, nothing crazy, some tax breaks, nothing crazy. Again, no demonizing in the law of any group inside the country.
So it's just when you start to do a one for one comparison with what Hitler did, like it is orders of magnitude different. And that's where like my ability to track what people are even thinking when they say that stuff, the only claim they could make where I wouldn't think what the hell is a slipper slope. This is the first step on a very long road, but it's the first step that you could sort of debate, but that he actually did things that are even remotely hit larian is insane. Copy that swinging the pendulum to the other side.
I know my crypto bros are happy. Shout to you guys out on the last episode and Bitcoin has only went up. The SMP hit a new high at 6,000. What the hell is going on with the markets, huh?
Okay. So we are having a euphoric moment where the markets were pricing in for a while that they thought Trump was going to come into office on crypto. I think it's they know that he's going to bring in a very pro crypto regulatory body. We've seen in the Senate the most pro crypto Senate we've had argue not arguably forever.
It is the most pro crypto. So seeing that on the crypto side, people are like, okay, all the regulatory uncertainty that we had is gone. We're pricing in some of our optimism about where we think this is going to go. How many more people are going to start flooding in now that you can't point to the boogie man's specter of well, the government is going to clamp down on this.
But also, if I'm completely honest, I think they're expecting Donald Trump. This is again, specifically Bitcoin and it has implications in stock market. We'll get to that in a second. I think they know he's going to print money.
And when you're printing money, Bitcoin becomes the safe haven. If they really believed that Trump was going to get the budget balanced and was going to do no money printing, I don't think he would see this crazy run on Bitcoin. I think it would go up still because people feel better about. I think there is a certain type of person myself included who would rather be in Bitcoin than gold, but it's effectively the same thing.
And so you would see it go up, but not to the rate that you're seeing right now. I think that's a combination of cool. We're going to have a great regulatory environment for crypto. And he's going to keep doing bullish things economically.
And so this is going to be wonderful. And so you get that perfect storm. I think on the stock market side, you have a slightly different thing happening, which is, hey, he's going to start removing a lot of these regulations. So you have the Gulliver's travel thing of you're a giant, the giant US economy, but all these regulatory bodies are making it harder and harder to do business.
We were moving in the wrong direction. You had Kamala Harris promising all of this money that they were going to give out to everybody, which is inherently inflationary and more regulatory bodies talking about top down pricing controls. I mean, legitimately for entrepreneurs, I don't think people understood how apocalyptic her talk was. Of course, we understood a lot of it wasn't going to be able to go through, but it showed you what the impulse was that she had.
It was just like every impulse she had was wrong. So people are really excited about that. But also on the economic, on the stock market side, you've got a couple things going on. You've got the same thing going on in the Bitcoin side.
It's going to print money like crazy. And so people are going to flood into the market because they have to protect themselves from inflation. But you also have, if we're in a position where he's cutting back on regulation, he's cutting back on taxes, businesses are really going to start to invest. And if businesses start investing and he's doing tariffs and he's bringing jobs back, now we've got a real strength in the US stock market.
So I think some of what you see this is obviously multi-factorial, but some of what you see there is people that were like, hey, I'm sort of hedging against where I think the US economy might be going and I'm going out into places like China. China's now having a ton of trouble. He's doing a lot of signaling that he's going to make the dollar stronger, that he's going to make the, he's going to take a lot of the regulatory burden off and that they believe he's still going to be money printing. It's like every signal that you can have on the positive and the negative side says, get into the stock market, get into Bitcoin specifically more than crypto in general.
And so you're just seeing that. Any pro-business sentiment is just a spark for people to say, okay, let's, let's invest. What do you think about the proposal? I think Michael Saylor threw this out about a Bitcoin strategic reserve, the US government kind of owning like a black of Bitcoin.
Just like I would love to see them have a currency that is backed by gold, I would love to see them either go all the way to backing the currency with gold. If I'm really honest, I'd rather seem back with gold. I think even though I've got way more of my own personal money tied up in that, the government should be focused on things that are a little more tried true if you're going to tie the dollar to it. But having the US at a minimum not sell the crypto that they've confiscated, I think would be a brilliant idea because if it really does continue to go up, there are people that, I mean, there are crazy predictions out there.
But even if it just doubled from now, hey, that's a great windfall. But if it really does go up to the million 2.3, 2.5 million that you see a lot of credible voices claim, I mean, Jesus man, that would be such a win for any government that's holding Bitcoin. But I want to be very clear, right now Bitcoin is extremely volatile. And I think if the US government were to spend a ton of money putting it on the balance sheet, there would be so much backlash from the tax paying public, I think it'd be pretty nightmarish.
So I don't know that I would advise Trump to do that at this point, but not selling what they already have. I think it'd be very true. We shall see. We shall see.
I'm curious to see what the markets actually do, what actually happens. We'll be back in a moment. All right, let's pick up where we left off. We have this clip from the All In podcast that kind of talked about what we see how Free Burg and sex see the future of the economy going.
Could you play that? By the way, I was these numbers climb the cost to borrow for the federal government clients. So the new bonds, we have to reissue a good percent of nearly $10 trillion. I think of our debt has to be reissued in the next year.
That's going to get reissued now at this higher rate. And that higher rate means that the annual expense just to pay the interest on the existing debt is now climbing at a faster rate. And that means you've got to issue more debt to pay for your interest on your current debt. It's quite hard to come back to the Fed sets that rate, right?
Well, this becomes the compounding problem when your debt to GDP reaches a certain level and you don't reduce federal spending fast enough, it becomes a compounding problem you cannot get away from. And this has been the beginning of the category is make economic collapse of every great empire in the last five years. I know I said this, you guys can joke about it all day long, but this is how it starts. It starts at a point where you're at rhythmically not able to get out of your debt spiral.
Okay. So this is the thing that scares me to death. The fact that even the guys in the All In podcast make fun of David Freeburg for saying this. I want to be very clear about what he just said over the last 500 years, every single reserve currency, every empire has fallen in the same way.
They all take on too much debt and they get to the point where they can no longer make the interest payments on the debt and they lose their status as a reserve currency. It happens over and over and over in an incredibly hilariously predictable fashion. And because it happens so slowly, people will make fun of the people that say it over and over and over that this is where we're headed. And it is truly a game of musical chairs.
And for anybody out there that's never played musical chairs goes like this, you have one fewer chair than you have person. And when the music stops, everyone's just walking in a circle around the chairs. When the music stops, you have to get the chair, knowing one person's going to get iced out. Now I want you to imagine there are no chairs and you're walking in a circle and when the music stops, you all fucking fall down.
See, you're even laughing out. It's like, am I saying it so much time? Kind of, but the reality is everyone falls down and oh my God. And it's like boys and girls, if you're laughing because you don't think it will happen in your lifetime, guess what fuck face?
It's going to happen to your kids. Now, I don't even have kids and I'm worried about other people's kids. You don't escape it. The only thing you can do is get fiscally responsible.
What are people doing instead? They're laughing at people who keep pointing out you can't keep doing this because you can keep doing it for a while. And because you can do it for a while, everybody's like, I don't give a fuck. It's going to happen to somebody else.
That is so cynical, man. And then the second worst answer, it's better than that one. The second worst answer is go by crypto. Guess what?
Your average person is terrified to go by crypto and for good reason. It's not easy. And for anybody that tells you that it is, is a liar. And so I'm just like, good Lord, I don't understand how people can be that jaded that because they see a way out.
They're just fine that everybody else is going to get new. Stop overspending. Stop overspending. You have to stop overspending.
You have to stop stealing people's money through inflation. You have to stop overspending. You have to if how much do people freak out over healthcare for everybody? If we go.
Okay. Now I want you to imagine something far worse, which is you're going to let people lose all the money that they've saved. In fact, you've already trained them not to save any money. It's madness.
And so you get into this death loop where people are not going to be able to retire because they have no money. You have to do three jobs. You've got guess what's that guess what's that brings down the life expectancy of this great nation of ours. GDP deaths of despair of men.
Dude, because we are disenfranchising people as fast as we can by putting them in a situation where you can no longer just be a plumber and make a decent living and make things work because inflation is happening so fast that you have to gamble to keep up with it. And the fact that, look, I love all my Bitcoin bros. I love you guys. But that is a shitty answer to tell people just get into Bitcoin.
Dude, my mom is not going to fucking buy Bitcoin. So and yes, I will take care of my mother, obviously. But how many people out there have moms, no one's looking after them. It's bananas, dude.
The reason that this happens is because it is so complicated that everybody just thinks, well, it's not going to happen right now. And because it's not going to happen right now, I'm going to make fun of the guy that won't stop saying that it's going to happen eventually. Dude, that's so gnarly. That view on life is so dark and sinister.
I can't be part of it. Is there anything that the average guy can do? Because to your point, going into the stock market gambling during my life savings in the crypto risky, I'm looking at Great Britain. They lost their status.
They're doing good now. Is there a way we can kind of hide from this bullback? Or do you think everybody's getting it? It's going to be like Greece, I think, is the last big one.
Like you're just going to get screwed and we're just going to have to deal with a period of hard times. History says people will not change until there is enough suffering for them to be so profoundly unhappy that they'll do anything, including except that they're financially obliterated because they want the killing to stop. And this always ends in not always the majority of the time it ends in bloodshed so catastrophically that people just say, yeah, find whatever. People owe me money.
I don't care anymore. I'll start over. It's fine. I'm just too fatigued or just so many young men die that they're just like, well, there's nobody left to complain about it.
That's literally how this plays out over and over and over and over. It need not. It need not. That's the thing that drives me crazy.
But we are up against the architecture of the human mind and the architecture of the human mind is these are very complicated problems. It's easy to push it off into the future, not deal with it today. And we will only elect politicians that we think will make our lives better right now in this moment. But I think in many ways, the vote for Trump was a vote for somebody they think will do something about it.
Now, I don't have any faith that Trump won't print a mega shit ton of money. So I think he's going to do a lot on the there are two ways to balance your budget. Make more money. Spend less.
He's not going to do I think enough on the spend. He'll in terms of government efficiency, I think he's going to do a lot. But that it's government entitlements. That's what's fucking us up.
It's it's health care. It's not getting people to eat right like all that. God won't derail in that. That's way number one.
Spend less money. I don't think he's going to be great there. Make more money. I think he's going to be great.
That's where people voted and they said, Hey, when you were in office last time, things got a little better for me. So I'm hoping if I put you back in office, things are going to get a lot better. And that's the the jubilant moment that we're in right now is people are forgetting that hockey stick that is the debt. And they're just thinking, ah, he's going to at least help us make more money and he's going to help us secure the border and he's going to make us a bad ass in the world stage again, which is something we've never talked about, but probably should.
So I'm conflicted. I voted for him because I think he's going to make us more prosperous in terms of we will make more money. We will be more innovative. I think he's going to be trash on spending money because I think people will vote out the Republican party if he cuts back on entitlements, which is the thing that's killing us.
Damn, if you do, and if you don't, I did not vote for Trump, but I'm hoping he does something good because I'm stuck with him for the next four years. At least praise Jesus that that that's your take is like, look, if the roles were reversed in Kamala Harris one or third party, I don't know who voted for. But first of all, I'd love and respect you regardless of who you voted for. Yay, as it should be.
And if your team had to want to be like, yeah, where, like, how do we help? How do we help? They either give them a view on something they might not have otherwise had and hope that they make good on that. They do something positive or, hey, fingers crossed, maybe I was just wrong and they're going to lead us somewhere awesome.
That isn't a universally held view, but it's the only one that makes sense. One thing we do have a comment, we accepted the results of the election. I can't say the same for some Tiktakers and ex-users. There is now a hypothesis that Starlink was used to hack different voting machines.
I just think that it's amazing that four years ago, we all decided that we should accept the results of the election. And now in this present moment, when one side didn't win and now the same people are using the same rhetoric to say the same thing. The voting machines were hacked and now we didn't get our way. And in 2020, it was the Dominion voting machines and in 2024, it's Starlink was used to hack the Dominion voting machines.
I don't know if you've seen some of these stories, but it's kind of crazy. What's your take on it? My take is human's going to human. So this was the most predictable reaction ever.
I think everybody knows Trump would have thrown a fit if he hadn't won. And I also think we can all agree that if Trump had lost, he would have thrown a way bigger fit than the left is throwing out. And so credit where credit is due, despite the fact that you're going to see that, despite the fact that it may gain traction and people really might start rationing things up, as far as I can tell, Kamala Harris is going to do a peaceful transfer of power that we would envy from 2020 because that was a shit show. But yeah, people just like that.
They legitimately are so trapped inside of their own worldview that they cannot fathom that the world just views things differently than they do. So we have this thing called dots inside of our company where we can all give each other dots. Now I'll be the first to admit that we don't give each other enough critical dots, but setting that aside for a second. The idea behind a critical dot is that, oh, I didn't realize people felt that way about me.
Whoa, that's weird. Now, if one person says that, let's say that I have a positive view of myself on something and somebody says you're bad at that. Initially, I'm going to be like, oh, that's weird. I'm really good at that.
So the fact that they think I'm bad, that's weird. The second time it comes in, I'm like, huh, that's interesting. The third time it comes in, I'm like, this is officially a pattern. And so now it is entirely possible that I have the wrong view of myself.
Now the reason I'm so hungry to update my view of myself is whatever's true is true. If I really am bad at that thing, then now I've got an opportunity to improve that I did not have previously because you cannot fill a cup that is already full. So if I believe I'm good at this thing, I'm not going to listen to you and you try to get me advice. I'm already good at that.
But if I'm open to, oh, maybe I'm either not as good as I could be or maybe I'm just full stop, not good. And now that I know that, now I can seek instruction, now I can practice, now I can get better. But people's ego is built around being right. And that's what you're witnessing now.
And this is my own take on the dumb voter problem. I really do think that there are some people that are too dumb to navigate the world well. But the problem is I don't know that I'm not one of them. And so because I'm like, and by the way, it's going to be issue by issue.
Like there are plenty of people that are brilliant and wondering absolutely radically stupid in another area. And so it's like, okay, well, if I'm a range of really good to really bad on a thousand different line items that matter, now it's like, you can't even like blink it, say I'm good at this other. So if you could just get people to lower their defenses in terms of their ego to go, I bet I could improve on everything and be open to that, not so open your mind falls out. You have to have a coherent sense of yourself.
But looking for ways to get better and improve would be in great shape. I know some people are never going to be able to do that. I just don't believe I should or anybody should be able to have them in and overdone people. Well, stop.
All right. You ready for the leggings? I'm ready. Let's do it.
If you had government position, where would you want it to be? Government efficiency. The one that was just created. Facts.
Copy it. I would have thought you would have said like the Department of Commerce Secretary of State. I feel like you could go through it. Oh, God.
Nothing that made me leave what I'm doing. Hell, no. I was put on this Earth to tell stories. The thing that I'm least known for.
But that is my thing. And speaking of which, by the way, my most recent comic book just came out on top is if you're not already reading it, all systems go out, baby. Nice. So yeah, storytelling.
I would not do anything that led me to give up this business. So that's one of the reasons I like that is it's sort of outside the government. It's not an official head department. All right.
I'm going to push you on this. If I gave you the government budget, you're a single issue voter. If I put the government budget in front of you and said you had to slash some things, what would you slash? Okay.
So first of all, if you really understand you already know the answer to that, which is I would want a team of rivals. So I would want to sit down with truly well-intentioned people. I would want to agree on KPIs. Where are we trying to go?
What's the end state that we want? What are the KPIs that we believe indicate that are actually going that way? And then I would want to debate it fiercely. Now I am very comfortable in the what Bush called the decider role, perfectly happy to be the decider.
But I want to be in a room with the smartest people who disagree with me in good faith that will go to battle and say this is what I think is true and try to figure out from as many different angles as possible. So I would not want to be this old decision maker. That would be a disaster. Love that.
All right. Bitcoin hit 90,000. Do you see it hitting 100k next year? Yes.
Almost certainly. Let me reach into the future. Some relatively small percentage of the entire universe of asset classes. I forget how much is like 80 trillion dollars or something stupid like that.
In fact, if you can fact check me, just say worldwide asset value. It's going to be something that trillions. So if you take that real estate, art, equities, all of it, all of it, all of it. Oh, wait a minute.
Even way more. $454.4 trillion at the end of 2022. Okay. So you need a very small slice of that to go into Bitcoin for Bitcoin to like quintuple.
I mean, literally just tiny fraction. So if I think somebody ran the math, it's like if Bitcoin were to get 7% or 8% of that, which would put it somewhere, I think roughly in the neighborhood of gold, it would be worth over $2 million. I think the numbers are direction correct. Someone's going to need to fact check me on the exact number.
So if we're at 90,000 now, do we get to 150,000? Well, certainly. Do you get to 250,000? Probably?
Does it get north of that? It certainly could. I think there's a very easy case to be made. And I think it goes like this.
Right now, kids are being born and all they know is Bitcoin. All they know is that the stock tickers all show Bitcoin that their friends care about the price of Bitcoin. They never knew that. I mean, I guess I hear about the fact that at some point people debated was Bitcoin real.
Was it not real? It's like it won't even be Fortnite, but their Fortnite skin today matters as much them as real clothes. And I think it's weird when their parents say, don't you want to spend that money on something real? They're like, what do you mean real?
What do you mean real? It doesn't compute. Of course it's real. Like that's where their friends see them.
That's where they spend the vast majority of their time with their friends is in the virtual world. I think people are going to be blindsided over the next 10 years. How much time people spend in a virtual world? Have you seen that?
I know this is the lightning round forgive me, but have you seen the Apple vision pro and how it can overlay a skin on your own house apartment, whatever? And you can be like, show me my house in real time as if it were the 1950s. Skin's it instantly. You can open the fridge, wrap things in.
It's all seamlessly skinned. Dude, people do not understand. Every day the world's going to get more virtual. As the world gets more virtual.
Obviously, people that grow up in that environment, it will be weird that you make a delineation between physical gold and virtual gold. I don't understand why you think one is better than the other. In fact, they'll be like, wait, I have to store the physical gold in my house? How do I even ship it?
How do I move it? They pick one up. They're like, Jesus, this is so heavy. What are you talking about?
Whereas the virtual gold, they can just send anywhere. It's worth a fortune. They can store their money in it. It's way easier.
It's harder for the government to seize. People don't get started on that. But harder for sure. And so, yeah, this is where, oh, all of a sudden everybody wants to think of short term time horizons.
It's like, this one, if you just play this game out, obviously it becomes, in the long term, kids just grow up with it. It will be a de facto thing in their arsenal of places to store value. You hear from Stonbill, you said Bitcoin's going to 2 million. So by all the people.
Did not say that. Don't you dare. It's not financial advice. Exactly.
When I get that lawsuit, guess who I'm sending in. That would be rude. How do you not like it? It's delicious.
We had so many disagreements in the past. This one might have taken it. That's the one. This is the one that I like.
Trump fine. But like, I can't have it. That's the line in the sand. And last but not least, Mike Tyson is fighting Logan Paul this weekend.
No, he's not. He's fighting Jake Paul. I'm sorry. He's fighting Jake Paul.
Sorry. I promise all white guys on YouTube. I promise that. Take over time.
Mike Tyson is fighting Jake Paul. You got to leave that in. That was hilarious. So who do I think so when?
Who I don't know at all. So let me walk you through the two different ways that I can see this going. Jake Paul has real knock out power. And so I worry that at 58, the brain just cannot handle that kind of trauma.
And so it is entirely possible, given that Jake can knock people out in their prime, that he just not only knocks Mike out, but like damages Mike in a way, just dude, you're 58. The padding that absorbs the normal blows in the brain, like that liquid cushion, like all that stuff is just not going to be as good, dude. Like you get way more brittle as you age. So that scares me.
I don't want to see 58 year olds box with a boxer in their prime full stop. That's just that's bad mojo. So that's my sort of fear because Mike is such a legend. But Mike is also a monster.
He is a monster, man. Like I was growing up with Mike in his prime, just unlike anything, man. So if Mike is able to generate that old school power and can just put a hurt on Jake, because one time Jake really went against another boxer with a similar record, he lost. So it's not like Jake is a phenom.
He's impressive. And I think taking anything away from him just because he's a YouTuber who does fights for the carnival of it. I think that would be a mistake. My fear is that he's going to damage Tyson and take him out.
That's my fear. I think that's exciting if Mike just really put a hurt on him. That would be more fun. Maybe because I'm old, I think that, but that would be more fun.
No, I definitely think that's a sentiment. Like the culture is rooting for Mike Tyson and Jake Paul is definitely the villain here. But CTE aside, it should be a good fight. And that's all I got.
Alright, everybody. Thank you so much for joining us. If you have not already, be sure to subscribe. And until next time my friends, the legendary chick are peace.
Let's talk about a pattern that is guaranteed to be killing your progress. You know what you need to do. You need consistent nutrition. We all do.
We need vitamins, probiotics, greens. We all know that we should be doing more of it. When your morning gets chaotic, you skip it. When you travel, you skip it.
When your routine breaks, everything tends to break. And that inconsistency compounds against you every single day. AG1 is designed to solve the execution problem. One scoop, eight ounces of water, and you're done.
You're getting 75 plus ingredients, vitamins and minerals, pre and probiotics. Nutrient dense superfoods, everything that used to require six, seven different supplements, and perfect planning now happens in one drink that takes about 30 seconds to make. Right now, AG1 is giving you $87 worth of free gifts with your first subscription. You get a welcome kit, travel packs, vitamin D3 plus K2, and flavor samples.
Click the link in the show notes or visit drinkag1.com slash impact to claim this offer.