9/11 & Iran War; Oil; Taiwan; WA Taxes; Private Credit; Welfare Fraud; Housing | Yaron Brook Show

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This is the Iran Rukh Show.

Oh, right, everybody.

Welcome to Iran Rukh Show.

On this Wednesday, March 11th,

everybody is doing well.

And, uh, yep.

So I'll continue updating you on the one you want today.

We'll cover a few more stories.

I want to bring in kind of a broad perspective

on all of this.

So we'll talk about kind of 9-11

and how that is played into where we are today.

And, and, and attitudes towards the war

as a consequence of Iraq war, the Iraq war.

And the inability of people to perceive

or even imagine victory in a war

given what happened in Iraq and Afghanistan.

First, just a pretty stunning story out of California.

The FBI issued a warning to law enforcement agencies

in California stating that they have recently

recent intelligence that indicates

that Iran is allegedly aspired to conduct a surprise attack

using unmanned aerial vehicles

from an unidentified vessel

off the coast of the United States,

specifically against unspecified targets in California.

So somewhere, somewhere by the FBI discovered something

where the Iranians, somebody unspecified,

has said that an unspecified boat will send

and unspecified drones to an unspecified location

in California.

So not much there, not much to go on,

but yeah, it does give you one sense that it could be done.

I mean, a disguising boat, any kind of other boat

could, could, I guess, cost a Pacific

and go off the shore of California

and launch a drone from a couple of hundred miles away

and attack California.

I get a sense that if that happened,

Americans would rally around this war a little bit more,

so maybe it would be good.

But I doubt it, and plus, I have too many friends,

loved ones, people I care about in California

that I don't wanna see hurt,

so I hope this is all, this is all a hoax

or unreal, or the Iranians have changed their mind

or whatever, or the boat's sunk.

Whatever happened, hopefully no drones

are gonna hit California.

But it is, it does tell you, I mean, it's possible.

It's true none of the ballistic missiles

the Iranians have could hit the United States

and none of their drones can travel the distance

but they're so easy to launch

that you could really imagine that on a small boat,

they could attack the United States,

the homeland of the United States.

But this sounds pretty unspecific,

except for the California part.

Except for the California part.

Now it would be nice if we knew exactly

when California was gonna happen as well,

but given everything else is unspecific,

I guess I'm not surprised that that is not there.

So, yeah, I mean, the war continues.

The daily bombing runs of targets in Iran continue.

Gizballah this evening actually has significantly

intensified the rocket attacks against Israel

and in something that is, I would say, surprising.

It looks like he was coordinated with the Iranians.

So, most of the counts out of Israel were,

you know, we've cut the communication

between Israel and Iran, Israel is isolated.

Well, no, they haven't.

It seems like the attack this evening was coordinated.

I actually spoke to my dad about, I don't know,

40 minutes ago, and he was in the average shelter.

My sirens were going off.

I could hear them in the background.

And he and my mom, and their caregivers,

four people in this tiny little room

which serves as their air shelter in their apartment,

in Haifa, in the north of Israel,

facing, you know, facing Lebanon.

So, they face, you can actually, on a clear day,

you can see Lebanon from their apartment.

But anyway, it turns out that not only had Iran launched,

you know, a small number of ballistic missiles

towards the north of Israel.

Qizbalah launched about 100 different types

of short range missiles into the north of Israel.

And the I&OM Israeli defense system

for their kind of short range missiles

was intensely at work.

I assume the new laser defense system was working as well

though there's very little verification in the Israel.

There's no official word about how extensively

Israel is using that.

But yeah, 100 projectiles out of the Qizbalah in Lebanon,

I think that if Israel was hesitating

about whether to expand the war in Lebanon,

if Israel was hesitating about whether to,

this was it, whether to go into Lebanon

and completely dismantle Qizbalah,

I think this latest barrage has tilted that clearly

in favor of this needs to be it.

Whatever happens to warn you on,

the war in Lebanon will continue until,

should continue, I hope it continues.

And I think Israel's now dedicated to it continuing

until Qizbalah is finished, until basically Israel

can hand over whatever's remnants of Qizbalah

to the Lebanese government and the Lebanese government

will be strong enough given how weak

Qizbalah will be to take them over.

Now we will see whether that happens,

but I expect a significant ground incoction

into Lebanon tonight or tomorrow

with the troops have been called up from the south

to participate in that ground incoction.

So the number of troops in the northern border

has increased significantly as Israel prepares

for a massive incoction into South Lebanon.

As I've said since October 7th,

Israel needs to occupy Lebanon

up until the Lytani River, if the Lebanese government

cannot handle Qizbalah, if the Lebanese government

cannot secure its southern border with Israel,

then that leaves no option,

but for Israel to do it for the Lebanese government.

And that means Israel needs to take

the entire southern Lebanon at least for now

and occupy the entire territory.

They've already asked for the evacuation of most civilians,

supposedly about 600,000 at least,

civilians that have left their homes in Lebanon,

but in most of those are from southern Lebanon.

Israel needs to occupy the entire place

and then systematically, slowly and systematically,

slowly, because I think it's going to take slow work,

dismantle Qizbalah's infrastructure in southern Lebanon.

There's very similar infrastructure to what Hamas had.

The real threat posted up to 7th from Qizbalah in the north

is something like what Hamas did in the south,

a just a massive invasion into Israel,

just overwhelming quick, slaughter, rape, torture,

just of Israeli civilians in the northern border.

And Israel cannot allow that ever to happen again.

And I think as part of that,

Israel is going to have to create a buffer zone

to the beginning to start that off.

They need to take the entire southern part of Lebanon,

again, up until the tiny river.

And Israeli forces might have to go further north

to again dismantle the rest of Qizbalah's infrastructure

as long as the Lebanese army won't do it.

Israel has to do it.

And I'm hoping the Trump administration lets them,

leaves them alone, but let's them actually engage in it.

But yes, I think this current bridge of Wachitfire 100,

which is the most they've done this particular war.

They did a lot more during the Gaza war,

but now this is the largest,

you know, basically, it means Israel has, I think, no choice,

but to act and expect they will,

evenantly, I think for tonight and tomorrow night,

or tomorrow, during the day,

I expect the invasion to go forward

and into southern Lebanon.

At the same time, the Air Force is attacking, of course,

launches from where these Wachitwafi'ed,

they're attacking strategic locations

of Qizbalah, all of Lebanon,

and all at the same time as doing what they're doing

in Iran at the same time.

So Israel's got to, whereas the United States

as a one front war, Israel has a two front war.

It's pilots unbelievably busy,

and I think moving now forward,

you're gonna see a ground troops as well.

Boots on the ground,

there will be boots on the ground,

Israeli boots on the ground in Lebanon.

And maybe, maybe, they will be boots on the ground

in Iran, we'll see.

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I think I'll wait inside.

I think you're not gonna be able to win this war.

You're not gonna be able to get resolution in Iran

without boots on the ground in Iran.

Not massive troops,

at least special forces, troops on the ground.

And we'll talk about that.

We'll talk about that a little bit later.

But really, there's this massive resistance.

Every time somebody shoots boots on the ground,

there's almost this immediate convulsion

within the American public and intellectuals

and the press and everybody.

No, no, no, we can't do boots on the ground.

Remember you walk, remember Afghanistan.

And there's no question.

You walk in Afghanistan

of such extensive failures.

We're such disasters over the long run

that the appetite for actually engaging in a war

that might lead to victory is gone.

You know, after 9-11,

after 9-11, I and many others in the objectives movement,

at least, Atlanta, Peacoff, primarily,

but the institute argued that the real target

should not be Iraq.

The real target was Iran.

And we were told at the time,

no, no, no, Iran, powerful, very, very strong.

You could never take Iran.

I mean, Iraq, okay, but Iran, no.

You walk everybody kind of depreciated.

Their ability to fight because in the first Gulf War,

in 1991, the United States just ran them over.

I mean, there was no contest.

And I argued that if Iraq is weak,

Iran is probably weaker or at least as weak.

But at the time there was zero reason

to assume that Iran was strong.

I mean, and what we're seeing right now

is how weak Iran is now.

And it was much, much weaker back then.

We didn't have any way near the kind of ballistic missiles,

the drones, all these technologies didn't exist.

They just had regular army.

And remember, the Iranian army fought a bloody, horrific,

eight-year war with the Iranian army,

eight-year war with the Iraqi army, to a stalemate.

So it's not that Iranians were so powerful,

they overran the Iraqis.

No, the Iranians were matched to the Iraqis.

Both armies unbelievably incompetent.

Both armies lost.

Iran lost hundreds of thousands of troops,

including a lot of children,

which they sent into battle in suicide missions.

Indeed, to this date, the Iranian regime

has a, you know, venerates this poster of this child,

a kid who wrapped explosives to his body

in cold-handed tank and set them off.

You know, it's the ultimate sacrifice

for the sake of jihad, for the sake of Iran,

for the sake of, you know, Islamism.

That is, by the way, who we're dealing with here.

We're dealing with the barbaric regime.

Anyway, after 9-11, they could have gone to Iran and they didn't.

And the reason they didn't,

and the reason the Holy Rock War became a catastrophe,

I mean, everything after 9-11 really was a catastrophe,

is because they wouldn't identify who the enemy actually was.

They refused to make the argument that Islam was the enemy,

that Islamism was the enemy.

You know, that would make it a religious way.

Indeed, the opposite.

George Bush told us, told us,

that Islam was a religion of peace,

that had been hijacked by a small minority of people,

happened to be members of al-Qaeda.

I mean, the damage George Bush did to this country

is really, it's hard to imagine.

I mean, I think, again, we saw it at the time at the Institute

and we warned against this, right?

He taught Americans you can't win wars

because of the way he fought them.

Tying the military's hands behind their backs,

restricting their target lists,

you know, not having a real plan,

for wanting regime change,

but not having a real plan for what regime would look afterward.

The fact going to Afghanistan,

but again, not really having a plan,

not really knowing what to do,

not having a mechanism I wish to feed the Taliban

if that was the goal.

So, what George Bush has done is he has basically

convinced American people that America cannot win wars.

And it is weak.

As a consequence, we believe that Iran is much stronger

than it is, that America is much weaker than it is.

I mean, there's also altruism in the place into that, right?

I mean, altruism will tell you that evil is strong.

Evil is strong. Why is evil strong?

And the good is weak.

Because the good, the good, according to altruism,

is the sacrificial.

The good is those who are willing to sacrifice for others.

That is my definition, weak.

Evil is that which is willing to sacrifice others to self.

That's which is willing to do anything, to win.

They are strong.

We should be afraid of evil.

When the reality is, evil is impotent.

And particularly evil is impotent in the face of the strong.

Now, it is true that Korea and Vietnam did not help

the attitude of America can't win wars,

but there was a chance after 9-11.

And we were attacked in the entire American people,

not like Vietnam, for example, American people

overwhelmingly supported, it was self-defense after 9-11.

And relevant to today, it was in the Middle East.

And relevant to today, the real enemy,

not the enemy we actually fought,

but the real enemy was Islam.

Well, Islamists, Islamists.

So, the impact of Iraq and Afghanistan

is much, much, much greater with regard to the attitude

towards war today, particularly in the Middle East,

than Vietnam and Korea.

Plus, it's a generational thing.

Everybody remembers Iraq and Afghanistan.

They've already forgotten.

And remember, in 2001, after 9-11,

the American people rallied around Bush.

He could have done pretty much anything.

Here's approval rating, not like Donald Trump,

who's approval rating are very, very low.

Bush has approval rating, you know,

after 9-11 war in the 80 plus percent,

he could have done anything.

What he chose to do was to lose.

What he chose was to lose,

was to fight an altruistic war

in the wrong place for the wrong reasons

with the wrong outcome.

And the consequence of that was not winning.

And indeed, I think today, the attitude generally is,

victory is impossible.

Can't win.

We can degrade.

We can do certain things.

We can upset.

We can achieve certain aims.

We can't win, though.

Victory is impossible.

Partially because we don't even know how...

I mean, imagine if Trump had said,

you know, I'm not stopping this until

there's regime change in Iran,

and not just any regime change.

I want a free Iran,

because that is the only way I know America will be secure,

not because I'm sacrificing American troops

to liberate Iranians,

but because the only way to make America secure,

California, for example,

is to change fundamentally

change the regime in Iran

from where it is today to a free country.

Free countries don't attack other free countries generally.

Imagine a president saying that.

And we will bomb them.

We will do what it is necessary

to being about that outcome.

But there's no such attitude.

And note that no real long-term victory is possible

without that attitude.

Because, you know,

the regime in Iran are not

Venezuela.

They're not just thugs.

By the way, good uphead today

by Benbeer and Ilan Juno

in the Al-Qaundi Register.

You can find it online

about the religious nature of the Iranian regime.

And you know,

why it's different than Venezuela.

Venezuela is a thugs.

You can get rid of the top thugs

and cut a deal with the Seconding Command.

Iran is not thugs.

They are ideologues.

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They're here.

They are committed ideologues.

They are religious fanatics.

Maybe not everybody.

But enough.

And they too believe that America's weak.

They believe America's weak because

America acts weak.

I mean, here's where bombs the

fuel reserves of the Uranians.

America chites the Israelis for doing that.

Don't do that again.

We don't want to hurt the infrastructure.

We don't actually bring pain to the Uranians.

How are you going to win if you're not willing

to bring pain to the enemy population?

So.

All the lessons, all the layers of 9-11,

all the lessons that we're taught from that,

the bad way in which those wars were fought,

which is continuing right now.

All of that is impacting what's going on now.

And look, Iran is much easier than Iraq.

It's easier than Iraq because it has a population

that doesn't like the leader.

It's easier than Iraq because it has a population

that actually likes the West.

I mean, we could achieve victory by accident here.

That is it could turn out that the Uranian people are

brave enough, courageous enough, and powerful enough

to overthrow this regime once we're done with them.

And, you know, at the end of the day,

at the end of this war, we will be safer

because many of the Uranian capabilities will be destroyed.

How many of them will they take out the nuclear program or not?

All of that is to be determined.

But we're not fighting for victory.

We're not fighting for that.

It might be an accidental outcome.

And our leadership at the top,

while there's done some good things,

right, going to war with Iran was a good thing,

so I'll give Trump credit for that.

And here's a big one.

I'm called Ghatay today, pointed this out,

and I thought, I mean, I thought this,

but I guess when he said it, it like really hit,

one of the greatest achievements of this war

from the Trump administration perspective.

It's partnering with Israel.

In the first Gulf War,

George was senior and mass troops.

Remember, a coalition, huge coalition of troops,

along the Kuwait border to kick the Iraqis out of Kuwait in 1991.

And purposely did not invite these rallies to participate,

even though Israel had the most competent army and so on.

In addition, when Saddam Hussein started firing missiles

into Israel at the time, just 91,

and Israel had no way of defense system.

Missiles were just dropping into Israel.

They were smaller than the ballistic missiles today,

but they were still dropping into Israel,

killing people, destroying property.

Israel was not allowed to retaliate.

It was not allowed to fly into Iraq and destroy the missile launches.

And indeed, in those days, there was fear.

The Saddam Hussein would use chemical weapons against Israel.

And still, Israel was not allowed to defend itself.

Everybody had gas masks with them, just in case.

In 2003, 2003, war with Iraq.

The United States did not have, I mean,

the coalition of the willing,

well, it's always willing, but not invited, not invited.

And again, not allowed to defend itself in any kind of way.

I'll give it from credit.

This war, they've embraced the Israelis.

They are partners. They are doing this together.

They're not showing away.

They're not coming to the Arab world being upset

that Israel is attacking a Muslim country.

You know, they're just, it's just a given.

And that's a huge achievement.

That is a massive achievement.

And that's probably maybe the best thing coming out of this war.

And indeed, I think Israel is much more strategic about this war

than the United States is.

To the extent that this strategy is coming from the Israelis,

not from the Americans.

And this of course, you know, brings me to the point

that I've mentioned a number of times over the previous few days.

But it needs to be emphasized, and we said again,

in spite of the success of the American military,

which I had no doubt, the weakness of the Iranian regime,

which I had no doubt, it is truly, it's constantly,

truly a shock, the extent to which the United States was not prepared

for key things, first and foremost,

the blocking of the homostrates.

You know, somebody challenged me the other day and say,

oh, you think the Pentagon doesn't have a plan.

You don't know what you're talking about, you're on.

You know, of course, the Pentagon has a plan.

You think you know more than the Pentagon.

Where's the plan?

The American Navy has been asked repeatedly,

pretty much every day, since the war began,

by particular shipping companies and ships in the Persian Gulf,

to provide an escort through the homostrates,

and the Navy has refused,

not wanting to put the chips in danger.

As we know, Iran started mining the homostrates yesterday.

We don't know for how long it mined,

and by some stories, they only managed to put out,

like, 10 mines, which are not very significant.

And then, only then, did the Trump administration order the efforts

to take out the mining boats, these are small boats,

they can drop two to three mines at a time,

and they've taken out, I don't know, 10, 20 of those boats.

Why is that, and afterthought?

Why wasn't that the beginning?

Well, primarily because the Trump administration did not expect

they did not expect Iran to resist.

They did not expect Iran to block the homostrates,

and therefore, they had no plan.

They literally had no plan.

And right now, they're winging it.

I know you can't believe it.

There's smart people at the Pentagon.

I mean, I'm sure the generals had some ideas of what they would like to do,

but no plan was approved on how to deal with homostrates.

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The Trump administration believed that the war would have no very little impact on oil prices.

And yet, it's had profound impact on oil prices.

It's truly shocking how badly, you know, from a strategic perspective,

much of what the United States has done is.

It's by the fact that bombing, that destroying, you know,

it's a took issue, right?

They can go out there and shoot anything they want.

There's no way to fund systems.

Today, three ships trying to cross the homo streets,

including one ship, one tie ship, off the coast of Vermont.

So the Iranians are serious about,

meaning they're serious about blocking the streets.

They've realized whether they realize this from day one,

or whether it's taking them a few days to realize it,

they realize that their biggest weapon against the United States,

the most powerful weapon against the United States,

is oil prices.

If they can get oil prices to 200 or bets are off,

I mean, global recession, whatever.

That's what they're aiming for.

Yeah, the Iran Islamic Republic news agency reported

that the Islamic Revolutionary Guard Corps has attacked a tight flag,

a bulk carrier in the states of Vermont for failing to heed

their warning not to transit.

Now, again, it's hard to tell how many ships are getting through

and how many ships are not.

And the Washington Journal had a story saying,

many ships coming oil moving out of the homo straight

at a faster rate than they were before the war.

And you think to yourself, wait a minute.

Why is the United States stopping that?

Why are we letting Iran continue to export oil

while Iran doesn't allow anybody else to export oil?

That doesn't make any sense or a strategic perspective.

Why aren't we stopping the Iranian ships taking oil out of the homo straights

and forcing them to turn around and go back home?

I mean, it's unthinkable that Iran is now benefiting

from the spike in all places because they have the power

whereas we have the mightiest navy in the world

right at their doorstep doing what?

It's truly mind boggling and hit scratching.

But this is a consequence of not really thinking this through

not having a plan in terms of what to do, you know,

with the homo straight, what to do with the oil?

You know, the United States told Israel not to hit oil depots inside Iran.

But Iran just launched a drone attack onto the oil depots in Oman

and they were on fire, huge quantity of oil on fire,

sending a message, they'd try to strike Saudi oil fields, Saudi refines.

I mean, there's enough air defense systems to knock those out

but they're trying to destroy the oil industry in the Gulf.

And yet, the US and Israel will not attack all facilities in Iran.

Why not stop the Iranians?

Why is the island still there loading up oil and allowing it to be shipped?

It's mind boggling.

Our prices continue to go up and down as a consequence of all of this.

I think 87 last time I looked, again, they were around 60,

not that long ago before the war.

But I was just looking at all prices.

We will, yeah, 87.69 right now, 87.73.

So they're functioning around 87, 87, 88.

They were as low as 80 earlier today.

So moving around a lot, 80, 83 earlier today, 80 yesterday,

moving around a lot within a band between 80 and 90, it seems.

Which is not bad relative to what looked like it might go a few days ago.

And part of this is that the IEA, which is the International Energy Agency,

which coordinates internationally, they have decided, I guess the agency is out of Paris.

They have said that the member countries are going to release 400 million

barrels of oil from emergency stocks.

So this is the strategic reserves.

They're going to be opened up. We're going to see 400 million barrels from European countries

and other countries being released in order to help stabilize the price of oil

and make sure it doesn't go up above 100.

The release of the oil would more than double the agency's biggest prior release.

Which was in 2022 after the Russians invaded Ukraine.

So this would be more than that.

In that point, 182 million barrels were put on the market.

This is all intended to counter the massive disruptions caused in the state of home wars.

Again, why isn't there a plan? Why wasn't there a plan?

If there is a plan, why isn't it being implemented?

Do you think that would be one of the first things the US does?

Bamiwan while securing almost straight.

But this is a problem of Trump running this war.

They're not thinkers. They're not planners. They're not strategists.

So yes, I mean, the IEA was created in 1974 after the oil embargo of 73,

which is Saudi oil embargo because of the Yon Kippur War.

It's a club of 32 Western nations and some allies.

Each nation has their own reserve.

And they are releasing a significant part of that reserve out into the world.

The Japanese, for example, would unilaterally release oil from their strategic reserve as soon as Monday.

So next week, they will release 15 days worth of oil from private sector stockpiles and another 30 days worth from government reserves.

The Germans said Germany would participate out of solidarity with other members.

So we can expect, again, 400 million barrels. That's a lot of oil.

To help keep the price relatively within check and away from above 100 and certainly away from the 200,

which is what I think the Iranians would like it to reach.

I mean, the West is acting to try to solve this, but the real solution, of course, is to end this more quickly.

But for that, we'd have to be a lot more ruthless.

But in the short run, to secure the Homo Straits, which again doesn't seem like to be in the plan, doesn't seem to be something the US military wants to do.

Again, according to the Wall Street Journal, Iran is exporting more oil through the state of Homo's now than before the war started.

That is to me stunning that we're letting that happen and we're not stopping it.

Because that's money. It's money in the bank.

And it'll be interesting if the fact that they just attacked the Oman oil tanks will change Trump's attitude.

Well, he'll respond to that.

By the way, the lack of oil or the high price of oil affects fertilizer.

You know, fertilizers meet from oil ultimately and that market is being heard.

So we will see, as I've already told you, the Saudis are going to be pumping oil west, so they're going to get around the states of Homo's.

But that is obviously taking them time to get that ramped up.

The Iranians, for the Iranians, the only cards they have right now is oil.

The only card they have is to destroy or to do damage to the oil industry in the Gulf states and to cause oil prices to spike.

That's the only weapon they have because they can't compete militarily.

They can't do damage. They're not doing any damage to the US.

They're doing damage in the Gulf, but even then not a lot of damage, particularly as compared to what's happening in Iran.

By the way, any one, one of the targets last night was the one of the Iran's largest banks.

It's data center, bank CEPA.

It's data center was attacked.

This is the bank that pays salaries to all regime forces.

And the Iranians have already announced that its soldiers, members of the Iranian, the Islamic Revolutionary Guard, should not expect paychecks anytime soon.

So the data center for their main bank of the Iranian regime that pays salaries to its military is being bombed, it's been destroyed.

I assume they're back up, but it's going to take a while to get the back up going.

The Iranians themselves, the population in Iran, at least, you know, we don't oppose anything like that, but suddenly people that Western journalists are talking to seem to be supportive of the bombing regime.

Here's from one, this is from the New York Times who talked to an engineer in Tehran.

It's as expensive being bombed is even more terrifying because the government is sharing little information and sending fewer alerts, said Ali and engineer in Tehran.

Ordinary Iranians are cut off on the internet, and Ali said people had exordered to calling friends and relatives in areas where they saw fired, fighting jets headed.

The ferocity of the attacks has divided sentiment among opponents of the government after brutal crackdown on nationwide protests by security forces last January with thousands were killed.

This is a quote from the engineer.

Some people are comfortable with the bombing.

I know that may sound strange, said Ali.

They upset if there was a night without bombing, and fear the one might end while the regime remains.

You can see this clearly.

People say we have already paid enough of a price in the Islamic Republic must go.

Ali said he was sympathetic to that view.

Our lives have no value for the Islamic Republic, he said.

We are the government's human shield.

And that's true, but it's good to see that the Iranian people still have that spirit of a fight in them.

To the time, let's see.

MotoDapy West for more details.

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Yeah, it's so, you know, again, everything continues.

A bombing continues.

As we speak, there's no stop.

The Iranians are claiming the Trump administration keeps reaching out to them with offers of negotiations and potential peace.

And, you know, this is Ali Lewinjani.

I think I probably running the war effort given that the Supreme Leader is probably injured.

And not in the sense of things that he's the Iranian head of National Security Council.

He said, quote, tonight we received messages in the United States president through the Omani mediator.

These are the same Omani's who just got bombed.

Requesting that we negotiate a ceasefire.

Our response is that we will not accept any negotiations as long as an entity called Israel exists.

If that's the case, they'll never accept negotiations ever.

So anyway, as I told you, these Israelis, particularly these Israelis, but also the Americans seem to be targeting all the kind of regime facilities, the Basis, the IRGC, you know, the anything that the Iranians could use to suppress their own people are targets now, particularly in Western Iran, particularly in Kurdish areas with the idea that maybe that's where it would start.

These are the areas in which there was a lot of demonstrations, a lot of demonstrations during the uprising in January.

This is where a lot of the people killed were killed.

A lot of the just moaning demonstrators down was happening.

And so Israel in particular is taking out all the regime facilities that make that possible.

You know, they attack any any of the headquarters, both in the Kurdish and there's very areas.

This is in the West and in the Northwest of Iran.

These are groups that might rally more aggressively to getting rid of of the regime.

All right, the war continues.

I don't see how it ends.

I don't know. I think the Trump administration negotiating is going to demand turning over all the nuclear material and ending the nuclear program.

The Iranians were not willing to do that before the war started.

I don't think they're willing to do it now.

I really do think that, you know, Trump constantly saying it's going to end today, it's going to do this.

And the general attitude of most intellectuals in America that are anti war, that are anti this war, the media's anti the war, the general attitude that seems to exist that this war is failing.

My sense is that all of that emboldens the Iranians and basically is convinced them not to compromise to keep going, to do everything they can to drive that price of oil up to, you know, over 100.

And to hope that the ongoing pressure on the administration will cause the United States to back off of this war unilaterally and leave the Iranians with the nuclear program and leave the Iranians with whatever they have left.

I don't think they're at a point yet and maybe they'll never be because remember these are, this is the thing Trump doesn't understand.

And this is the thing Bush didn't understand and this is the thing Americans don't understand generally.

These are religious fanatics. They're willing to die for the cause.

This is why they should never be allowed to have nuclear weapons. This is why they're different than North Korea and the Soviet Union and the Chinese.

These people would use it because they don't care about dying. They don't care about their retaliation.

We just saw one Supreme Leader gone next Supreme Leader. He'll be gone, but I'll appoint another one.

Now, some people in the regime care and that's who you hope will ultimately cause some kind of overthrow of the current regime.

But the leaders of this regime are Islamic fanatics who do not care and therefore will fight to the death.

And if they fight to the death, you know, they're not going to negotiate away the one thing that they know in the future could protect them, which is nuclear weapon.

They're going to fight to the death to keep it. And given how vulnerable they think the United States and how weak they think America is not militarily, but spiritually in terms of commitment, in terms of ability to fight a prolonged war, willingness to fight a prolonged war, not ability, willingness.

Given all the stories about America's running out of ammunition and it can't do it and it's not the war is not popular and this whole cause of the Democrats are losing the midterms and all this stuff. Why would they stop?

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Why would they stop?

So, I mean, the only way for this to end positively.

I mean, it's going to end positively no matter what because Ivan will be weakened no matter what.

But regime change is the one way you secure that.

And short of regime change, the United States better have a plan to do two things that are going to be necessary in the next couple of weeks.

One, open up the states of hormones. I don't think they still have a plan.

And two, find that in which uranium and get it out of there.

The latest report I saw is that half of it is buried under Estefan. And maybe there's a way to get to it and then others are scattered.

Oh, some of it is buried under four door. You probably couldn't get to that. It's buried too deep. And some of it is in some lab somewhere.

Do you think that would be a priority? Because once they get the new material out, then you think they can negotiate because then Trump can declare victory and actually negotiate.

As long as they have the nuclear material in Iran, Trump cannot declare victory.

Cannot declare victory.

Anyway, that is my assessment today of the war. Again, it's going as well as a war from the air can go.

It's sad that Americans have given the nature of war and the importance of this war that Americans are so hesitant to put boots on the ground.

I think taking Carrag Island, Ireland, where all the facilities are, would really change the dynamics of this war.

Putting boots on the ground to try to find the nuclear material and get it out would change the nature of the war.

I think both of those are possible, but they would require courage in the part of our political and military leadership, which I don't think they have.

And again, so much of our country is opposed to boots, boots, boots, not bats, boots on the ground to putting boots, to putting soldiers on Iranian territory.

Needs to happen. Special forces, power troopers, whatever needs to be. I don't think they have to go to Tehran, the island, secure the nuclear materials, and maybe other missions here and there to help with the regime change.

But it has to happen. And this fear, again, from Iraq and Afghanistan, where we fought so pathetically because of rules of engagement, you know, we need to get over it.

We need to fight properly. And we need to do what we need to do to win this. The more you drag it out, I mean, the weaker Iran will be at the end of it.

No question about that. That's a plus, I guess. But the more desperate they will be to get nukes.

You know, the other option, of course, is so them to get a nuke from the Russians, or the Chinese could give them a nuke.

This is why there's so many bad outcomes, potentially post-war, that regime change is the one thing that actually secures this long term.

And so one thing everybody wants to take off the table, because nobody wants to commit to it.

I mean, if there's a hint that the Russians, the Chinese are going to provide them with a nuke, will have another war.

I mean, I have to do this again. And I'm not sure the U.S. will be up to it. Israel might have to do it alone.

All right. Let's see.

Okay, let's talk a little bit. We've got a few other stories. We'll go through this fairly fast.

And let's say Taiwan, Taiwan is looking at what's going on.

And what Taiwan is trying to turn itself into, if you will, is what it calls a porcupine island.

An island with, you know, what do you call the things that a porcupine has?

Whatever those things are. Basically enough defense capabilities.

They can't go in the office. Enough defense capabilities to deter an invasion.

That means that Taiwan will probably soon have, or maybe already has, the highest density of anti-ship missiles in the world.

They'll have over a thousand U.S. and Taiwanese-made anti-ship missiles along their coasts.

A thousand of these missiles.

You know, unless the Chinese have a really good way of knocking these out of the sky, maybe they do,

they should serve as a strong deterrent.

They are investing heavily in air defense systems to try to deter the Chinese Air Force from attacking Taiwan and destroying these ship missiles.

And you have to defend these missiles from attack from the air, attack from drones.

So they're investing heavily in, you know, drone technology, anti-drone technology, anti ballistic missile technology, anti-cruz missile technology.

And at the same time, anti-ship missiles.

Suppose the U.S. has supplied them with harpoon missiles, land-based harpoon missiles.

And they have over 1,400 total anti-ship missiles that they have arrayed, and they are planning to produce more, build more, and create a massive inventory for these things.

Again, at the same time as figuring out how to defend themselves from air attack, air attack, which would take out their harpoon systems that fire these missiles to sea.

So Taiwan is looking at this and figuring out how can it defend itself?

Which is not going to be easy. At the same time, the Japanese are going to be deploying a land-to-land missiles.

It's called the Thousand Kilometer Range Type-12 missiles. On the Japanese islands, not far from Taiwan.

But what this will do is we'll put China's mainland within reach of these missiles.

Now Beijing has threatened. Don't do this. It's wagged at finger at the Japanese, but the Japanese right now have a top-point minister who is dedicated to defending Japan and defending Taiwan if need be.

And by putting missiles on the islands close to Taiwan, they will be able to hit the coastline of China, which is significant.

And again, the United States gets its allies like Japan, like South Korea, to actually be willing to deploy weapons that pose a real threat to the Chinese.

The more likely you are to deter the Chinese from ever trying to invade Taiwan, because they won't want to risk it.

I mean, Japan has the second or third best Navy in the world, probably.

It depends on whether you rank it above the Chinese or below the Chinese.

But it's certainly a large and formidable Navy.

It's large. It's got many submarines. They're very advanced submarines.

It's got aircraft carriers. It's got battleship. You know, it's got the whole array of ships.

And the super advanced, super technologically advanced. Again, you know, Japan is investing heavily in defense right now.

That eastern part of the Pacific, you're going to see there's going to be a lot of action there in an attempt to deter China for invading Taiwan.

Now, because that's when, that's when, you know, if you're going to have a World War III, it's more likely to be over Taiwan that it is in the Middle East or over Ukraine.

Because the stakes are so high. And the players all there well armed.

And of course, the United States gets into direct confrontation with China over that.

And potentially that is, that is a, that could be a disaster.

So deterrence is the name of the game.

And the more missiles you can put that are in range to destroy Chinese ships or to reach the Chinese mainland, the better.

And Japan here will play a huge role in that. And the Japanese Navy will play a huge role in that.

Particularly submarines. Kudababa, Daba says they have 22 subs.

And I think some of the subs have like electric motors, which makes them super quiet.

So, yeah, I mean, interesting stuff.

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Okay, let's see.

I talked yesterday about this new tax in Washington.

And the tax passed, right?

So it passed their first income tax.

This is the first income tax ever in the history of the state of Washington.

Only people making over a million dollars a year will pay it.

It'll be 9.9% so it'll make it one of the highest tax rates in the country at a state tax.

Married couples show a single one million exemption.

So basically everybody files, you get a million dollar exemption,

and you pay 9.99 anything above that.

So if your combined income is more than a million, you get tax.

There were a lot of people in Washington state to make over a million dollars.

A lot of successful people at Amazon and at Microsoft and at all the different spin-outs and start-ups that provide the infrastructure for them,

the ecosystem that they've created, including a lot of million as it's Starbucks.

So this probably means that Washington state will have an income tax for people making less than a million dollars soon.

Once you establish it, once the income tax is there, it's very easy to lower the threshold as the need with capital N for money increases.

Because the more money the stake in milk gets people, the more need it has for money.

You know, people are excited.

Who are excited? People who never hope to ever make a million dollars or more or never hope to make a lot of money.

Generally, even not a million dollars.

Because again, this threshold is going to be dropped.

You know middle class people are going to stay middle class because getting wealthy is going to be really difficult.

Another 10% off the top.

Again, this is above and beyond the federal tax.

This is California level of taxation.

Familiar million is.

California is 13%.

This is 10%.

And yeah, I mean, this is going to be a major disincentive for building wealth in Washington state.

And it probably means people are going to leave.

And we've got a first announced departure.

Starbucks founder, the founder of Starbucks, Howard Schultz announced he is leaving his long time home of Seattle and moving to Florida, given this new income tax.

Now remember, Howard Schultz is a big time Democrat.

A big time supporter of Democratic causes.

It doesn't matter. He still doesn't want to pay the million in tax.

He can afford it. He still doesn't want to pay it.

So he's been in the Pacific Northwest for 44 years and is off to Florida.

You know, maybe the weather had something to do with it, but I suspect it's not the only thing.

By the way, Starbucks, which has been forever located in Seattle forever, is also moving out of Seattle.

And so there's headquarters and moving, I think, to Tennessee.

They're relocating to Tennessee.

So yes, I mean, he's got a long statement about his moving, you know, it doesn't really mention the tax.

He says like many other Seattle based companies, Starbucks today stands on the shoulders of many Pacific Northwesterners who built the company.

They helped shape the culture, the benefits and the brand, contributed to the Pacific community and the public life of the city and state.

It is our hope that Washington, the said this, will remain a place for business and entrepreneurship to thrive, creating essential opportunities for those in Seattle and surrounding areas.

Well, maybe not. If Starbucks itself is moving out because Seattle and more broadly, the state of Washington are becoming less and less friendly to business and less and less friendly to entrepreneurs who want to become millionaires.

Yeah, pretty, pretty sad, sad for Seattle.

I mean, the tax went from zero to 10% overnight.

By the way, at the same time, in South Carolina, a bill to phase out South Carolina's income tax completely, which is, I think, more important than facing out the property tax in Florida.

A bill to phase out South Carolina's income tax completely passed in a second, the second chamber, it looks like it'll pass South Carolina will join Florida and Tennessee and some other in Texas as a state with no income tax.

While Washington will leave that small group of states with no income tax and join the group of states with an income tax.

By the way, if you look at movement, you know, how it should just left Washington state, Mark Zuckerberg, Sege Brin, Larry Page, Peter Teal, and many, many, many others of left California.

And they've left California because of this wealth tax that the Californians want to pass.

And the latest poll shows that the wealth taxes likely to pass.

It's going to be a referendum and Californians are probably going to vote for a wealth tax.

And it's going to be a freaking disaster for entrepreneurship in California.

It's a wealth tax only on billionaires, so don't worry.

Very few of my listeners are billionaires, so you're safe.

But the billionaires are all leaving.

You know, the founders of Google and Facebook and Peter Teal and many, many, many others.

Supposedly, half the billionaires in a state of California have left or are leaving.

That's pretty amazing.

Oh, wait, let's see.

So, you know, there's always a question of when and where is the next financial crisis going to happen?

Where is the weak spot in the financial industry?

And it's very difficult to predict these things.

And, you know, it's, and I'm not particularly good at it necessarily.

But I do find it interesting right now that there are problems within the world of finance right now.

And those problems are primarily in what's called private, private lending, a private debt.

So, traditionally, historically, banks are being the ones that lend money.

You know, you go to the bank and you borrow money in businesses, borrow money from banks.

And banks develop an expertise on how to deal with it and how to manage it.

They have been, you know, crises in the banks over issues of debt.

But most of those are being around mortgages and sharp changes in interest rates.

The reality is that banks are very good in terms of business lending.

And there be no real systemic crises around the country, around the banking industry, and, you know, business loans.

But Dodd-Fank, which is this massive horrendous, horrific banking regulation bill that passed Congress after the financial crisis,

one of the things that it does is it disincentivizes banks from doing business loans.

What it really does is encourages banks to take into deposits and buy and buy government securities.

And not get into the business of loaning money, particularly not to businesses.

Now, to fill in the gap, because businesses stole the money, what you've had is a massive industry has been created,

which is a private industry, private equity, that is making loans to businesses all across the country.

And it's always been a question about whether these, how much expertise that they have, how easy is it for them to replace banks?

Good is their underwriting, underwriting is the process by which you evaluate alone's riskiness and ability of their borrower to pay you back.

How robust is all of that? And, you know, it has not been clear in it.

Well, over the last couple of weeks, we've seen a number of indications of, call it strain in the private debt, private credit market.

This could be a result of sloppy underwriting, it could just be because of some shocks to the system that have to do with AI and software companies.

And we've seen a lot of asset managers, BlackRock, for example, and others restrict access to some of their funds, you know, not allow withdrawal from fund their funds.

JP Morgan Chase today is basically mocking down the collateral held by its private credit firms.

So it lends money, it's a bank, it lends money to private credit firms who then lend money to businesses.

That turns out to be better for JP Morgan, regulatory-wise, than JP Morgan lending directly to the businesses.

That's the kind of regulatory insanity that we live under in our banky regulations and coverage.

So what we've seen now is that JP Morgan Chase is mocking down the value of these loans, the value of the collateral upholding these loans, that are being given to it by the private equity firms that are making the loans out there.

And a lot of this has to do with software companies that have been borrowing money and took a beating in the stock market because of AI and valuations have come down.

And there's a lot of uncertainty about the future of a lot of these software companies because supposedly AI will replace them.

And whether that's valid or not, this has now filtered down to the level of the banks, JP Morgan Chase.

So all these particular lockdowns have to do with software company loans.

But we've also seen significantly high redemptions from private equity firms like Blue Owl and Blackstone.

And you know, I'm not saying we're heading towards the financial crisis, but there's something to watch.

These are the kind of things that were happening a year before the financial crisis happened in 07.

This was happening in 07 before the financial crisis of 08.

It's the kind of stuff you saw.

If all prices going up slows down the economy, you could see other problems in the private lending side businesses having problems paying off their debts and so on.

You know, I expected some of this to happen during COVID and it didn't.

I think to a large extent because the government basically bailed out everybody, including some of the kind of zombie companies that were out there on the brink of going under.

And the government gave the money free money, which helped them stay afloat.

When one does what happens if there's a slowdown significantly slowdown in the economy.

If there's a recession, I'm not saying there will be one, but if there's one, let's say because of all prices or because of something else.

Something to watch is these private equity funds, these private credit funds.

And the people who invested in it and the people who've lent them money, people who've lent them money.

All right.

Uh, itchy welfare.

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You know, I've told you many times about, you know,

everybody makes a big deal out of the welfare fraud, autism fraud, welfare fraud.

In Minneapolis, and it's horrible what happened in Minneapolis by mainly generated

from the Somali community there, but they made a big deal out of it because I believe it was the Somalis.

But now as investigations are happening along the country,

what I expected, what I told you would happen is happening.

They're discovering fraud everywhere.

I mean, one of the main sources of fraud is autism therapy businesses

that get money to treat autism from Medicaid, from the government.

An example of this is a company in Indiana.

One by a regular American, not an immigrant and not dockskin'd.

It appears.

This woman, Megan Mitchell, started her business in 2019.

And, you know, she started a piece by piece autism center.

And by 2023, she was getting $29 million a year from Medicaid,

treating about 84 patients.

Just to give you a sense of that, that's $340,000 a year, a child.

Sorry, $340,000 a child.

Now, this is not some high-tech, sophisticated, you know, very high-priced,

super-duper doctors or whatever you think.

No, most of these, most of the stuff they do here is,

is stuff that you don't even need a high school degree in order to do.

They were charging for some of their therapists dealing with these kids,

$640 an hour.

Wouldn't you like a job that paid $640 an hour?

Well, you can have one.

Thanks to the U.S. government.

I mean, Mitchell claims,

her company complied with all of Indiana's rules

and the state never objected to her prices.

She says, I don't think Indiana really had any oversight on her much.

Of course, as a consequence of that, she was wreaking in $29 million a year.

I allowed her to buy a, you know, a nice house in Florida,

a $600,000, $600,000, what a fun house,

along the river in Indiana.

I mean, yeah, all, all, Medicaid.

And this is all over the country.

I mean, the number of companies offering therapy individualized treatments,

a skyrocketed as a number of diagnosis of, and there's an incentive here,

of autism, particularly mild forms of autism, has skyrocketed.

You know, direct payments of state Medicaid programs to autism therapy providers,

grew to $2.2 billion in 2023,

from $660 million just four years earlier.

So it went up by, you know, threefold, more than threefold.

Great business to be in, get taxpayer money to do this, right?

So, yeah, I mean, Medicaid fraud happened in Minneapolis, no question,

but it's happening all over the country.

Everywhere you look, if you dig it a little bit, you will find massive fraud,

welfare, Medicaid, any big, large, generous government program,

there's going to be massive amounts of fraud.

This is what Doge should have found.

This is where the fraud really is.

It's not in Washington DC.

It's in all these applications.

It's in all these, and it's a lot of little things.

A lot of little things.

You're not going to find in a computer in DC.

You're going to have to go into the trenches and, you know,

find it in all these different places.

You know, another example of this.

And this CBS is credit, CBS under Barry Weiss.

This is an investigation CBS ran in Los Angeles.

And I already reported on this story a couple of weeks ago, maybe longer.

But CBS has now run a big thing about this, a show about this.

And this has to do with hospice care, hospice care in California, in Los Angeles.

So, again, Medicare, this is Medicare, not Medicaid.

Medicare is federally administered, and hospice says must be certified

in order to get reimbursements from Medicare.

Medicare will fund your hospice treatment.

But it's the state that issues the licenses for hospices to operate.

Three years ago, California state auditors sounded that long

that Los Angeles County had seen a 1,500 percent increase in hospice companies since 2010.

I mean, more people are getting old, but not that many people.

More than six times the national average, this growth relative to its elderly population.

Auditors estimated LA County hospices overbilled Medicare

by $105 million in a single year.

They claimed to have, for example, high rates of terminal yield patients.

Hospice is usually terminal yield.

And yet, many of the patients they built for were discharged alive.

What did that happen? It's a miracle.

The state auditors notes hospice care treats pain and other symptoms associated

with terminal disease.

We are then attempting to cure the disease when a cure is no longer possible

or when the burdens of curative treatment outweigh the benefits.

So taxpayers are being massively fleeced, CBS reports,

quote, the state says it proceeded to investigate after the auditors report

and revoke the licenses of 280 hospices.

But since then, the problem has continued to faster.

CBS News examined the businesses and financial records of every hospice

currently operating in LA County.

Applying the same indicators identified by the state indicators of fraud have not stopped.

In fact, they've grown.

The CBS News Analysis reveals that over 700 of the roughly 1,800 hospices in LA County

triggered multiple red flags for fraud as defined by the state.

CBS reached out to Governor Newsom's office.

A spokesman sent us a January 2026 statement which reads in part under Governor Newsom's

Administration in California's crackdown on hospice fraud, launching partnerships across state agencies

and all that bullshit.

So there is so much of this and now some of it,

some of the fraud is associated with the COVID pandemic,

all the COVID pandemic stuff, all the benefits that were distributed during the COVID pandemic.

So here's an example.

This is from Chicago.

A South Suburban man was sentenced to 10 years in federal prison Tuesday in a massive $14 million fraud scheme

where he collected kickbacks for filing more than 1,500 bogus loan applications

at the height of COVID-19 pandemic.

The 122 months from hand to down was believed to be the longest sentence

for any case in New District Court in Chicago related to the counties to the country's payback protection program.

You remember that which funded emergency loans designed to get financial relief to small business owners

and others during the pandemic.

It was massive fraud and abuse regarding the PPP.

So yeah, the more you look, the more you'll find much of your taxpayer money gone because of some of this fraud.

All right, finally, let's talk about housing some more.

We talked about this other day, but the 21st century road to housing act looks like it's going to pass the Senate.

Now, it has some good stuff in it.

It has some stuff that is targeted at making it easier for homes to be built.

It reduces the amount of environmental kind of regulation that applies to home builders when they want to build new neighborhoods.

But the reality is that most housing regulations occur at the state and local level, so it's going to have very little impact.

But it is reduced to regulation, right?

It also reduces regulations on manufactured housing.

You know, in the 1950s, there was a bit into the early 1970s.

There was a big push to have manufactured housing that is lower the cost of housing by having pieces of it manufactured in advance and just assembled into place.

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And that has been regulated out of existence. There's very little of that going on in America today.

Indeed, by some accounts in the early 1970s, a majority of new homes were factory built, modular, mobile, but coming in from the factory.

That has died and with it increased productivity. Increased productivity has died in home building.

So, okay, that's a little regulatory relief. That's good. We're always for regulatory relief.

And there's also kind of all kinds of other small incentives to free upland at the local level for local municipalities too.

So there's some good stuff in the bill. Nothing dramatic, nothing shadowing, but some good stuff. And then there's some garbage.

I mean, which become now a super popular idea is section 901 of this new bill. It's called homes for people not corporations.

Which restricts the purchase of new single family homes by large institutional investors.

This is something Elizabeth Warren was pushing for a long time, but it's only in the bill because Trump became a huge fan of this.

So it cuts off institutional home investors from insurance and VA guarantees and all, if any, if any, and all of this basically also imposes a 70-amandatory divestiture rule forcing institutional investors to convert rental homes to own occupied units after seven years.

So if you own a corporation, owns a bunch of homes, they have to sell them.

Now, people are living in those homes. They're renting not owning, but who said? Who said that owning is better than renting?

Renting allows you for more flexibility. Renting allows for more mobility. Renting might be cheaper.

And yet what this bill really wants to do is destroy the rental market for single family homes.

What are the objects to institutional investors buying apartment buildings or commercial real estate?

But when it comes to single family homes, oh my god, that is a no-no. That must not be allowed. That is nuts.

You know, they can buy apartments, hotels, not family homes. That's the American dream.

So what you'll get is a shrinkage of the amount of properties available for rent.

Forced people to buy when they might not want to.

Which is not necessarily good for work on mobility, for affordability for what people can afford.

And the reality is, as I've said many times on the show, institutional investors own a tiny number of homes.

So even if all of these homes are going to be now for sale, it's not going to change prices significantly.

It's just it's just populist stupidity.

Something that is just encouraged people, you know, the Trump can use in his campaign speeches, the list with one.

Whenever the one in Donald Trump agree on something, you have to be suspicious.

In addition, this will kill all construction of new homes for rent.

Which is, you know, it's not a big segment of the market, small one.

But construction of homes will go down.

We'll go down and that'll have a negative impact on home prices over the long run.

So it's just an absurd policy.

Again, done for purely populist, some bitey reasons with no economic justification.

This is what Republicans will become. They become, you know, Elizabeth Waw.

This is the past, the Senate, by a big margin.

You know, maybe Rand Paul will vote against it, but basically everybody else is for it.

I told you about rents declining in Austin significantly.

Where there's a list of where rents are declining the fastest in the country and where they're going up the most in the country.

And it's pretty straightforward. They're going down dramatically in places that allow build, build, build.

Florida, Texas, Colorado, North Carolina, and Arizona.

Savannah, Georgia makes the list, right?

That's where rents are going down.

Rents are going up, California, Illinois, Oregon, New York, Virginia, Kansas, Nevada, Ohio, Pennsylvania.

So a bunch of states.

But the down is where they are off the building.

And you can see that by the fact that in the markets where rents are going down,

they have dramatically increased the amount of homes available for rent.

So among the top 15 markets, cutting rents, the median supply growth, the growth in supply of available units was 5.1%, which is very high.

Whereas the ones that saw an increase in rents, the median supply growth was just 0.6%.

So again, I mean, this is not hard.

This is straightforward economics, but this is exactly this is just, I mean, this is nobody ever learns.

You want a government solution, when a top down solution, you don't want to pay attention to economic principles.

This is, you know, populism, socialism, leftism, statism, and altruism.

You know, so some people are being sacrificed.

But a lot of it is just lobbying, right?

If you own a home in one of these areas, you don't want prices to come down.

You want prices to go up because your equity value will go up.

So you vote to respect the supply.

So it's this, you know, self-destructed behavior that is deemed to be self-interested.

But it's overall self-destructed because it overall increases the power of the state, which is going to hurt you one way or the other.

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All right, that is the news for today Wednesday March 11th.

We went for a long time.

So let me just remind you that if you value my presentation over the news,

as quite a few of you seem to do because the viewership numbers are high,

please step in with some financial support, value for value.

You can do a sticker.

You can ask a question.

And by asking a question, you can shake the topics that I'm going to be discussing now,

now that I'm going to answer your super-shut questions.

So thank you for doing that.

You can ask about anything, the war, the economy, the stuff we've talked about,

or stuff you've read about that we haven't talked about.

So whatever you feel like, you can ask.

I know there's a lot of people asking questions in the chat.

Doesn't work that way.

I don't answer questions from the chat.

I answer all questions that are asked in the super chat.

So if you want your questions answered, if you want me to respond,

then super chat and super chats, you can do $2.

You can do $500.

Anything between, I think, $0.99 and $500 is possible.

So it's not that you can't afford it.

Everybody can afford $0.99.

So just ask a question in the super chat.

And I will answer.

I promise to answer all questions, even ones I don't like.

But jump in and do that.

In the meantime, those of you who don't have questions will still gain value from the show

and want to, you know, want to trade, want to show value for value,

then you can jump in with the super chat.

Sorry, with a sticker where you don't have to ask a question.

So again, same button at the bottom.

AM, a key, but you keep asking the same question.

You want me to answer the question, ask it in the super chat, and I will.

But I won't answer it as long as it's not in the super chat.

Can't follow all the questions in the, in the thing.

All right, Cully Voltaire, $20.

Thank you, Cully.

Really appreciate that.

Grant, thank you for the sticker.

Maria Lean, thank you for the sticker.

Let's see, West, I think that $50.

I saw West do $50 here.

West, thank you, thank you.

Thank you as always for the $50.

Dalin, Mike Dial.

All of you, thank you for the stickers.

I really appreciate it.

That's a great way to support the show without asking a question.

And, yep.

So, thank you for all the people who have asked the question.

Now, we've got goals for every hour.

We're almost at the first hour goal, but we are well into the second hour,

and we might, if we get enough questions, we might make it into the third hour.

So please consider making a contribution so we can, we can keep on track

for the show goals, for the weekly goals, for the monthly goals.

We want to stand track.

You know, it's, I deliver these every day.

Often from all kinds of places around the world, keep you informed,

help you avoid having to watch television news and read the newspapers

because those are not pleasant activities.

All right.

Let me also remind you of the Iron Man Institute as a sponsor.

They've got, they've got a conference in Porto.

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And then finally,

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And check that out.

And see, maybe you can bring Defenders of Capitalism to your business,

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All right.

Selfish Subscriber.

Just did $50 sticker.

Thank you, Selfish Subscriber.

And it means a lot from somebody called Selfish Subscriber.

He is contributing $50 to your own book show, Assume, because he's selfish.

That's the way I like it.

And Roland, Roland Swiss-Fanks, have come in as well.

Thank you, Roland.

Really appreciate that.

So thank you guys for the support.

And yeah, we've crossed the first hour goal.

So we're on our way to the second hour goal I appreciate it.

Don't forget, one way to support the show, without being here live,

is to become a supporter, a monthly supporter on Patreon.

Again, you can do anywhere from $2 to $1,000.

Patreon.com, your own book show, and become a monthly supporter.

Really, really, really appreciate that.

That's the steady money that comes in every month on a regular basis.

I would love to see that grow by about 50% this next year.

So if we chip away at it slowly, that would be great.

If there's anybody out there can do $100, $250 a month, something like that.

That would be amazing.

That's the kind of support that the show really needs.

Of course, I value the $2, $10, $25 as well.

All right.

Let's go to our questions.

Let's start with Michael.

Michael, is nuclear power being realized because it's needed to power AI,

because Alex Epstein's influence, Epstein's influence,

the power that be seemed to be, the powers to be seem to be impressed with Alex?

I think it's a combination of a number of different things.

I think it's a combination of people realizing across the world

really, including in Europe, surprisingly, that nuclear power is safe and is needed

and that I think people are slowly realizing that wind and solar are not a solution.

They're actually a problem.

Now, Alex has highlighted that and brought a moral fervor to it that never existed before.

And that I suddenly think is influencing things in the United States.

And I think by extension influencing things even in Europe,

I do think Alex has had an impact.

So it's the need plus Alex and the people who have been influenced by Alex,

pushing for this that has had an impact.

So absolutely, absolutely.

Alex is doing an amazing job and has the ear of very, very influential people

both in the business world and in government, primarily in the US,

but I think by extension, internationally.

All right, Thomas, Thomas, sources in the Trump administration claim

that he really seemed to think this was essentially another Venezuela.

Drop lots of bombs, take out the leader and wait for the regime to kneel before Trump and beg for mercy.

Yeah, because he can he can't think of a ideologue.

The fact that somebody would be willing to die for their ideology or their religion in this case.

Trump can't conceive of that.

He is a power.

You know, he is all about momentary satisfaction.

He's a thug.

He's a mafia boss.

Mafia bosses know that they can always cut a deal with other mafia bosses.

Particularly once they show how strong they are.

Because no other mafia boss wants to die.

But when you are dealing with Islamists, they're willing to die.

They're willing to die for the cause.

And Trump cannot conceive of that.

To him, it's all like Venezuela.

And Venezuela went so smoothly, why wouldn't it go well in Iran?

You know, if they're all thugs, then I know how to deal with thugs.

You take out the top guy and the people underneath him immediately cut a deal.

Because they want to live.

Well, not if you're an Islamist who believes in 72 virgins and you'll get the benefits of God and heaven for eternity, then you're not going to cut a deal.

But again, a Trump mentality cannot conceive of that.

He cannot even think in those terms.

And there's nobody around him that will tell him that.

Now, I think Rubio and even Hexeth can conceive of it because they're religious enough to know what it entails.

Trump cannot.

He just cannot.

And that's what happens when you appoint basically somebody with a mentality of a mafia boss to be president of the United States.

Jennifer, here's a joke we can relate to.

Wood of the day, Deja Poo, the feeling that we've heard the same shit before.

That's pretty funny.

That is one that we can definitely relate to because the shit just repeats itself over and over and over and over and over again.

And it's the same rotten philosophy, guiding what people are doing and how they behave and what they do.

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Michael says, have you been to Guangzhou, China?

Incredibly impressive city.

Yes, I have been to Guangzhou.

It is an incredibly impressive city.

I've been there twice.

But the whole region, if you go from Guangzhou to Xinjiang to Dongguan, that whole area, just basically adjacent to Hong Kong.

I mean, it's not, I mean, the train ride from the Eda Hong Kong takes a few hours.

But it's adjacent, given the size of China.

That was the first area that was deemed a free trade zone in the 1980s, maybe even late 70s, early 80s.

And it boomed since then.

So it's the first zone in China to be granted some economic freedom.

And it's because it succeeded so much that other parts of China were granted the same kind of economic freedom.

So Michael, are you in Guangzhou?

I'm curious.

Michael says, how can Trump be successful in this Iran campaign?

How can Trump ever be successful in this Iran campaign?

He's a narcissist with no ability to think long range of principle.

Yeah, but the Iranians are pathetic.

The Iranians are super weak.

They could collapse at any moment.

So when you're a bully, you can beat up on weak people, even if you can't think long too.

And I think there are people at the Pentagon that can't think.

The people who buy the weapons and the generals, they can think.

Obviously, not perfectly because they missed the stage of form was, but that's Trump's fault.

Because he was, you just wanted to jump in and he believed again that this would be like Venezuela.

We do a few days and they surrender and that would be it.

Eric asked, do you know Tom Billu?

He mentioned Ein Rand and that was shrugged often in his podcast, impact theory.

Any thoughts? No, I don't know.

I don't know.

But I know there's a lot of people mentioned Ein Rand, but it would be interesting to find out who he is.

I'll copy this and see if maybe the Institute can contact him or something.

Thanks Eric.

Ollie says, value for value. Thank you.

Ollie, appreciate that.

Harrison says, thoughts on the sky is ours by feed rate command.

I haven't, I haven't listened to it.

I haven't listened to it yet.

So I'm trying to, yeah, you asked me to, yeah, but that's, you're sponsoring a song, but it takes me a while to do that.

It can take me weeks before I actually give my thoughts.

So you're going to have to be patient.

You don't have to ask again. I appreciate the $5.

But you don't have to ask again. I will, I will get to it.

I promise.

Rimo, for your interview with Andrew Fox was great.

Thank you, Rimo. I appreciate that.

Thanks for all the value. Rimo says, thank you.

Rimo, Harrison says, Jack Lang, the guy who had a bomb thrown at him in New York City,

is the same guy leftists tried to stab at his anti-Somali protest in Minneapolis.

I think they will get him eventually.

It seems like, it seems like he's egging them on.

And given his views, yeah, I'm not saying it's justified.

I'm just saying it seems like he's egging them on.

And he goes to all the places where they might get him.

Paul, do you think that Iran would be desperate if they thought

they will lose the war and destroy their own oil capacity?

No, I don't think so. I don't think that's part of their M.O.

But I could be wrong. I just don't think that that's how they would go out.

Crypto fanatics says, where can I read the objectives list of individual rights?

How do they defer from the US Bill of Rights and the Universal Declaration of Human Rights?

Well, they defer certainly from the Universal Declaration of Human Rights.

But there is no list of rights because there is no list of rights.

Basically, there's one right. There's only one right. That's the list.

You have a right to life, which means you have a right to take actions.

Act in pursuit of your own values using your own mind.

That's it. And the right to property is a derivative of the right to life.

Because in acting, you will create stuff. You will gain through your work property.

And as part of your right to life, that is yours because you created it.

So right to property is a derivative of the right to life. Right to free speech is the same thing.

It's a derivative of the right to life. You have a right to live, act.

Part of that action is speaking. It's writing. It's expressing yourself.

You have a right to liberty, which is the right to think and speak.

And you have a right to pursue happiness, which is broad, right?

You have a right to act on your own behalf. You have a right to pursue your values using your mind, your reason, free of coercion.

That's the only right you have. But that's pretty broad.

Basically, you have the right to everything that you don't not acquire through the use of force by violating other people's rights.

So the right to life is go blip and the government will protect you from force coercion.

That's what it means.

So there's no list. For example, you have a right to health care.

What's the right to health care? You have a right to negotiate whatever terms you can with whatever doctor is willing to negotiate with you and to get any treatment that you and the doctor agree to.

Based on the negotiations, you have a right to negotiate and as a consequence, negotiate with pharmaceutical companies to get whatever drug you want to get.

That's kind of the right to health care. The right to a home is the right to go out and negotiate and buy a home.

But the only way to do that is voluntarily engage with other people to so there's a sense in which if it's a right to action, it's a right to all action.

It's sort of that which involves using force and other people.

I would highly recommend for that reading man's rights. It's an essay that is at the end of virtue of selfishness.

I think all capitalism is not known a deal. Another book of Iron Man's essays. So you can find the essay dealing with rights at the back of that essay.

Jason, do you think the Fed might cut 25 basis points given oil and war this month, predictive markets, $5 on yes, pays 120?

I don't know. I mean, the good news was the CPI number came in very low yesterday, lower than expected.

The job market was very bad. I mean, negative job growth in February and revising downwards of previous months.

I mean, the amount of jobs revised down over the last years just been stunning.

So we're in a what they call the job sessions. There's certainly a problem with job creation in the US economy.

US economy is not creating jobs. Part of that is kicking out the illegal immigrants.

So that would suggest those two things which suggest yes, they would cut 25 basis points.

Inflations seems to be under control. I mean, CPI at least and jobs are problematic.

That would be the rationale. Cutting interest rates is not going to affect all prices, you know, one way or the other.

So all prices will go up affecting other prices will go up irrespective of interest rates.

Glorious is the IRGC hood. I moved to California. So now they're threatening to attack it. My bad.

Thanks for covering the war you're on. I cannot stand mainstream news coverage of the war and their pessimism.

Thank you, Gloria. I really appreciate that. You know, sorry, the IRGC is after you.

But luckily you in a big state, it's going to be hard for them to find you.

So thank you for watching my show and thank you for supporting it.

I'm a keep get a job. I guess Harrison is paying for your question.

What do you think of David Doitch's attempt to define a rational epistemology?

I mean, I think he's fundamentally wrong in his entire approach to epistemology.

I think Iron Man is already defined a rational epistemology and they default dramatically.

Iron Man starts with the senses and starts with induction.

And induction is our main means of knowing, of, of discovering new knowledge.

Doitch, like Papa, starts with speculation, starts with imagination, starts with coming up with an explanation.

Just out of nowhere in your mind and then testing it.

And I think that's really wrong. You don't start in the mind. You start in reality.

The mind is integrating something. It's, the mind is aware of something.

Human consciousness is a witness of what? It's a witness of reality. That's where all knowledge starts.

All knowledge starts in reality. Now it's not that reality imprints itself on our mind.

So I agree with Doitch about the rejection of intrinsicism that somehow knowledge imprints itself.

And I agree with him about his objective to subjectivism.

But Iron Man has solved that problem with, with, with this idea of the mind integrating the facts of reality.

That is what real knowledge is. And so I disagree with Doitch.

I mean, I admire Doitch. A lot of what Doitch does. I admire a lot of his work.

But I disagree with him about this.

All right, guys. Thank you.

Thank you to all the superchattis. Thank you to all the viewers and people here.

I appreciate your support. I will see you.

Hope tomorrow no guarantees are being Honduras.

I'll be in Prospera in Honduras. We'll see what the internet connection is like.

Assume it's going to be good because it's Prospera. But I can't guarantee that.

So if it is good, I will do a show tomorrow. If it isn't good, I won't in the same for Friday Saturday Sunday.

So in Monday, there will be no shows. So wish me luck. I pray to the Wi-Fi gods.

And hopefully, I'll be with you from Central America tomorrow. Bye, everybody.

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Whether you're craving that coffee taste to kickstart your morning ritual, or as a nutrient-packed reward to round out your afternoon,

Kachava keeps you fueled and satisfied wherever your day takes you. Plus, it actually tastes delicious.

No fillers? No nonsense. Just the good stuff your body craves.

And for the times you feel like switching it up, you've got seven flavors to choose from.

All with the highest quality ingredients. Treat yourself to the flavor and nutrition your body craves.

Go to kachava.com and use code news. New customers get 15% off their first order. That's KAC, H-A-V-A.com code news.