The Dan Bongino Show - The Biggest Lie of All (Ep 1448)

Episode Date: February 2, 2021

In this episode, I discuss the tv moment we should use as a tutorial in how to deal with liberals. I also address the continued fallout from the GameStop story and the troubling efforts by the DC and ...Wall Street elites to ensure that this never happens again.  News Picks: Is the GameStop story the opening chapter in a new America? The Tablet Mag article discussed in the show today. The Wall Street establishment looks to strike back against the GameStop investors. Is the US a modern day “tale of two cities”? Why are progressives so illiberal? The VDH article discussed in the show today. The Democrats troubling plan to pack the courts. Copyright Bongino Inc All Rights Reserved. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript
Discussion (0)
Starting point is 00:00:00 get ready to hear the truth about america on a show that's not immune to the facts with your host dan bongino so i'm going to show you a video today in the beginning of the show that is a clinic on how to a two-minute clinic on how to deal with liberals when you're debating them and they say something stupid the answer is ask them to produce the evidence. Because whenever you ask a liberal, here's the little trick with liberals. Whenever you ask liberals to produce the evidence, they find themselves in this conundrum.
Starting point is 00:00:34 There is no evidence for the dopey things they say. So it works really well and it typically shuts them down right away. I'm going to show you that video to open the show. I've also got a lot more. Today's show brought to you by ExpressVPN. Have some peace of mind online. Surf the web in peace. Get a VPN. Go to expressvpn.com slash Bongino today. Pick up your VPN. Welcome to the Dan Bongino Show. I've got that. I've also got the details on the GameStop story. I'm going to give
Starting point is 00:01:02 you both sides of this story, tell you where I lean, and ultimately history will tell the true tale of what happened. But this GameStop story is fascinating for a lot of reasons. And it's going to be an addition to what I spoke about last week, how a bunch of retail investors
Starting point is 00:01:18 beat the big guys on Wall Street. Beat them. There's no doubt about it. Fascinating story. Welcome to the Dan Bongino Show. Our first sponsor today, our friends at Vincero wearing one of their sharp watches today. I love Vincero, always have. Why? Because I don't like wasting money on products that don't do what they do. You want to watch, you want it to look good, right? Well, if the watch doesn't look that good and you're overspending, you're wasting your time. With this new year,
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Starting point is 00:02:59 Join thousands of other Bongino listeners and get your watch today, vincerowatches.com slash Bongino. All right, let's go. Let's dig right into the show. First, I'm going to get to these two videos. I'll get to the clinic one in a minute, the two minute clinic. This is classic. Greg Gutfeld from the five, shutting it down, shut it down, lid, get a lid on it right away. Ask liberals to produce the facts. They never can. But first I just want to show you a quick one because I've been warning you about this for weeks, how the liberals weaponize language and how they use terms. Remember the other day, Paul, remember we started the show the other day, right before we came on
Starting point is 00:03:33 the air, I was watching Fox in the background. They said, we're going to have an anti-hunger advocate on. Anti-hunger? Is there an opposite side of that? Is there a pro-hunger advocate? You understand how liberals work? They create these terms that make it impossible to resist them, anti-hunger advocates. And if you object to anything they say, like we're going to tax people and steal farm food to give to hungry people. And if you object to that and go, maybe that's not the best idea to handle hunger, you can't fight the anti-hunger advocate. You can't fight, you're pro-hunger.
Starting point is 00:04:10 You are definitely pro-hunger. You notice how they use the same tactic with what? What's the, Paula, what's the topic du jour today? Oh, you have to be anti-racist. So advocates now who follow this new white fragility stuff, they are anti-racist. Is there anyone pro-racist? Is there any respectable member of society you would have in your house or anywhere else that's pro-racism? Anyone?
Starting point is 00:04:35 Of course, the answer is no. So you wonder why they create terminology like this. And they create terminology like this to avoid serious conversations. like this and they create terminology like this to avoid serious conversations. So in other words, if you don't teach a terror groups, uh, doctrine in school, like black lives matter, which is a Marxist terror group, they've terrorized cities. They burned down cities. They practice Marxism openly. They've talked about it.
Starting point is 00:04:59 If you dare object to them, then black lives don't matter to you, which is absolutely insane. They do this all the time. This is how they are going to advance to the next level of censorship by continuing to wipe you off social media platforms, Facebook and Twitter. Everything you say is going to be classified as hate speech. Therefore, if you dare fight them, you are pro hate speech. You don't believe me? It made its way into the White House briefing room yesterday. Check out the briefing by Jen Psaki. She didn't circle back on this one. This one, she got right to the point when they were asked about, hey, does President Biden support the continued banning by Twitter of President Trump off the platform? Listen to her answer. Check this out. Does President Biden support the continuing ban of President Trump off the platform? Listen to her answer. Check this out. Does President Biden support the continuing ban of President Trump on their sites?
Starting point is 00:05:48 I think that's a decision made by Twitter. We've certainly spoken to and he's spoken to the need for social media platforms to continue to take steps to reduce hate speech. But we don't have more for you on it than that. You see the trick? You see the trick she just did? Don't ever forget this. You have to be better debaters than them because the facts are never on their side, which I'll prove in a second. That'll be technique number two. Ask liberals to produce the facts. They can't do it. But trick number one they use all the time is in order to avoid dealing with the nuances of any debate. Every debate has nuance. Ladies and gentlemen,
Starting point is 00:06:23 nothing is black and white. Nothing. Nothing. Not debates about tax rates. Not debates about government. Nothing is black and white. How much taxes? Where? Do we tax income? Do we tax capital gains? What about carried interest? What about property taxes? Everything has nuance. Everything. Everything has nuance. There's no black and white. Liberals want to make things black and white to avoid nuance. Why? Because they don't have evidence to back up any of their arguments. And once you get into the nuance, they start to lose. Like when you say things to them like, hey, well, hiking taxes traditionally has resulted
Starting point is 00:06:57 in lower tax income to the government because people then avoid paying taxes and pay accountants to get out of paying the higher tax rates. They don't want to acknowledge that. So what do they do? They make it simple and they make it things about hate speech. Therefore, if you fight them and if you dare talk about the real complexities of banning a former president from a public forum such as Twitter, which has become a public forum with a de facto public forum, rather than getting into the nuances and the censorship
Starting point is 00:07:24 dangers of doing that, they don't want to do it. So what does Jen Psaki do? She resorts to standard liberal trick number one, make it a black and white issue when it's all gray. Be the anti-hunger advocate. That way, anyone who fights you and it's black and white, they're on the wrong side of this. They're hunger advocates. They want to advocate for hunger.
Starting point is 00:07:44 You're an anti-racist if you're a leftist. Therefore, any questions about class, identity, politics, the breakdown of race in society, any nuance, which is everywhere, it's not to be nuanced. It's not to be argued in its nuance. If you dare argue against liberals and their policy prescriptions, which enhance their power, you are then pro-racist because you're fighting them and they're anti-racist. It's going to be the same thing with hate speech. Anyone, anyone they disagree with will be thrown into the big hate speech cauldron and kicked to the curb and say, hey, you want to support getting Donald Trump back on Twitter? You're for hate speech, man. They do it all the time because they're dumb. They're dumb. They don't have the ability to think to second order effects. Let me show you this other video
Starting point is 00:08:30 from the beginning of the show here. This is from the five yesterday. So one tactic with the left on number one is don't let them bottle you into black or white arguments. What that reporter, if they were really interested, should have said have said listen i'm not interested in your subjective definition of hate speech i ask you a specific question about the role of a former president donald j trump on a social media platform that's a de facto public space answer the question but they don't want to do that that's how you get around the anti-hunger, the anti-racist stuff where anybody who fights them is pro-racism, therefore to be shunned, which is nonsense. It's none of that's actually true. Get them into the details.
Starting point is 00:09:14 Really? So if I object to your anti-racism training because I think it's furthering the class and race divide in the country, I'm a racist. What about the fact that the policies I'm promoting, school choice, business development, intercities, have actually benefited the minority community? How about we debate those? Stick to the point. Don't let them get off it.
Starting point is 00:09:34 But also, do this. Do what Greg Gutfeld did in this segment yesterday. He was having this debate with Donna Brazile on The Five, and Donna Brazile said something that is factually entirely inaccurate made up that donald trump advised people to drink bleach what do you do whenever they do that which is often you ask them to produce the evidence watch the panic that ensues when greg gutfeld asks donna to actually produce the evidence that happened check this out and by the way if joe biden goes out there one day and asks people to drink bleach as a way of fighting a pandemic, God knows that never happened.
Starting point is 00:10:10 Donna, you got fed a lie there. There's a there's a never happened, Donna. You got a lie. Never happened. Maybe if you're going to say that on the show, you got to have the clip. Never happened. Well, get the clip. All right. Because this is whatever you want to call it. You steak dinner steak dinner if you find that clip no i mean look there's it never happened i don't want no dinner i'm just trying to be honest yes he did if you're going to bring up something that's not true we got to point it out that's what we did hey greg great don't have a heart attack baby because i'm not there to give you where's the evidence the greatest question ever where's the evidence really donald trump told
Starting point is 00:10:51 people to drink bleach can you produce that clip the bet always works too remember when i i may i still by the way no one has claimed my hundred thousand dollar bounty i put out a hundred thousand dollar bounty for any journalist that can prove that that Westwood one story in the Washington post that I was told by Westwood one and cumulus to stop talking about the election. I put out a hundred thousand dollar bounty to any journalist that could produce that actual electronic copy of the email because the story is totally made up and fabricated. You know, not one person is cashed in. Why wouldn't you take the a hundred K? That's a lot of money. Six figures, a100K, no questions asked. I'd write you the check myself. Why has no one done it? Because I asked them to produce the evidence, Paul Farhi and the Washington Post, that their story was true and no one could.
Starting point is 00:11:40 Nowhere. Nowhere. Of course they're nowhere. Leftists don't actually correct themselves after they lie to you. God forbid they had any morals and dignity. I've never gotten apology from Paul Farhi of the Washington Post for his fake story. Now, whether Donna apologized to Greg in the audience, I'm not sure. But that was, in fact, false.
Starting point is 00:12:05 Donna can never produce the clip because there is no clip of Donald Trump telling people to drink bleach. It's made up. And if you believe it, I'm really sorry. I know some people object to my use of harsh terminology, but in this case, it's true. If you believe that, you're an imbecile because you could easily watch the clip, which I would produce today, but I don't want to waste your time because it's not there. So I'm not going to play you a clip of something that doesn't exist. You could easily go and look at the clip yourself of Donald Trump when he was giving a coronavirus briefing. And you will see rather easily if you have an IQ in the 85 range or above that Donald Trump never in fact said to drink bleach. You just made it up. So if you believe it, then you're really, really stupid.
Starting point is 00:12:46 Ask for the evidence and don't ever let them get off track with their simple black or white arguments. No pun intended with their play on identity politics. Their simple use of anti-racist, we're anti-racist activists. You are? We're all anti-racist activists. All of us. No one's pro-racist activists you are we're all anti-racist activists all of us no one's pro-racist so why you use that terminology oh because you want to stigmatize anyone who objects to your liberal power grab oh no yeah yeah now we get it hate speech you don't want to talk about donald trump so it's all about hate speech hate speech for anyone objects to donald trump's characterization by twitter it Twitter, you're definitely pro-hate speech. These are sick people. Folks, I want to get into this GameStop story now.
Starting point is 00:13:32 I got to move on because I want to tell both sides of this. Why? I'm going to tell you where I stand at the end. I think you know that from listening to last week, but this GameStop story about a bunch of retail investors who beat some of the biggest hedge funds investors on Wall Street, despite this being their only job. Literally, their one job in hedge funds was to make money for their clients by leveraging knowledge asymmetries, knowing things retail investors didn't know, right? That's how hedge funds supposedly make money. Why else would you invest in them? You're giving them, if it's a standard old 220 or 215 carry, you're giving them a 2% management fee and 15% of your money as some hurdle before anyone even cashes in. That's an extraordinary amount of money, how a lot of these
Starting point is 00:14:19 hedge funds and big investors make their money. Why are you giving them all this money? Because they're supposed to know things about the market. The great unwashed, us, the great unwashed crowd doesn't know. So what happens when the great unwashed crowd, all of us, get together and beat the people who are supposed to be smarter than everyone else? The answer is they lose their minds and they go to DC and their friends in Washington,
Starting point is 00:14:46 DC to shut it down. Lid, get a lid on it right away. You can't have the great unwashed beating us at our own game because then what would happen? That's right. Really wealthy people would stop giving them money because the whole facade, the whole curtain would be pulled back and the wizard would be exposed that maybe they don't know as much.
Starting point is 00:15:06 These hedge fund guys. I'm not stigmatizing them. I'm not stereotyping them. I'm just saying a fact. Maybe they don't know everything they said they knew. You know, I'm going to get to this story. Let me get to my second sponsor because this is going to take a minute.
Starting point is 00:15:19 But I'm going to give you the other side of the story too. To be fair, we always do this. Even on controversial topics because it'll make you a better debater in the long run to know both sides and facts do matter even when they're uncomfortable right let's not be liberals today's show also brought to you by a terrific new movie uh run hide fight have you seen this it's rated tvma viewer discretion advised but it's a production by our friends of the daily wire the hollywood elite refused to produce the film because it didn't fit their political agenda. The Daily Wire doesn't believe in censorship.
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Starting point is 00:16:36 Subscribers can see it for free. If you have not used promo code DAN, save 25%. A really, really terrific film. Go check it out today. Run, Hide, Fight at dailywire.com. Okay, getting into this GameStop story because I want to give you both sides of this. Folks, it's not as simple
Starting point is 00:16:57 as a hedge funds versus retail investor story. I do believe, however, it is an us versus them story, as I've said often, and it's not an effort for me to further divide America. It's an effort for me to expose these divides so we can in turn combat them and get to a more legitimately free, fair, and just society, not like the left wants you to believe. Their versions of justice are skewed and really kind of grotesque. So let's give the other side of the story first. So the way it's been sold to folks out there is this was a bunch of retail investors who beat the big guys, these hedge funds and stuff. So let's give the hedge fund side story first. So the Wall Street Journal has an
Starting point is 00:17:41 interesting article on this yesterday on the short sellers. So what the short sellers did, just a quick nuts and bolts on how the hedge fund guys plan to make money on GameStop stock. GameStop, again, is a retail store that sold basically video games. That was having some trouble because video games can be downloaded now. You don't need to go into a GameStop retail outlet to buy a plastic cartridge. You just download it. So they were having serious trouble. The story in the Wall Street Journal gives the other side a GameStop retail out to buy a plastic cartridge. He's downloading. So they were having serious trouble. The story in the Wall Street Journal gives the other side. GameStop was an enjoyment of crowds. Players weren't investors,
Starting point is 00:18:11 and they didn't invent a new road to prosperity and wealth creation by Homan Jenkins. So what some hedge fund investors, who again make money by claiming they have some set of knowledge that other people don't, that's why people give them extraordinary sums of money to invest their money, right? They said, hey, we've got the skinny
Starting point is 00:18:30 and we're going to short this GameStop stock because this GameStop company is a mess. It's a wreck. People are downloading games. This is going to go under. So the stock is going to go down. So by shorting a stock, you take advantage of the stock going down
Starting point is 00:18:43 by making money off it. How do you do that? You borrow the stock from someone. So the stock's $20. You borrow the stock from someone. You don't buy it. You pay them a small fee to borrow it. I borrow your stock. I then sell it. The stock's $20 and I borrow it, say for a buck. I borrow it. It's $20. I then sell it on the market. I get my $20. The problem is I borrowed it. So I got to give it back, but it doesn't matter because I think the stock's going to go down, right?
Starting point is 00:19:11 Because I'm a hedge fund guy and I'm super smart. I've got knowledge you don't have. That's what I told my clients. So I'm getting a lot of money. So when the stock goes down, like I anticipated, right? Say the stock goes down to 10.
Starting point is 00:19:22 That's a pretty big drop. This is great. I go, I buy it back from someone else for $10. Remember, I already sold the stock I borrowed to someone for 20. I buy it back for 10 and give it back to the guy I borrowed it from. What a deal. You'd pocket nine bucks, right? I paid a dollar to borrow it because I didn't buy it.
Starting point is 00:19:40 I just borrowed it. It was $20. I went and took the borrowed stock, sold it on the market for 20, pocketed 20 bucks minus the one. So I pocketed because I paid a dollar to borrow it. So I pocketed $19. Stock dropped, like I said, because I'm a hedge fund guy and I'm smart. I know things you don't. The stock drops to 10. I buy it in the market back for 10. I give it back to the guy. What a deal. I pocket $9, right? So I only had to buy it back for 10. Well, there is a role for short selling. You may say, well, what's the short selling?
Starting point is 00:20:11 That sounds like a scam. Ladies and gentlemen, listen, in a free society, people are going to do that. You can't ban them from doing it, but we shouldn't be banning them from losing money. Here's the short sellers side of the story. Or well, I shouldn't say, Homan Jenkins doesn't represent short sellers,
Starting point is 00:20:27 but he's kind of fair in his pieces. He says, on the contrary, by taking their short positions, he's talking about the hedge fund guys that lost in the GameStop deal. They actually gave long-term bulls a way to earn extra money by lending their own shares
Starting point is 00:20:39 to assist the trades the shorts wanted to make. Many bulls likely have short positions themselves to hedge their long positions in companies like GameStock and the movie theater AMC. Let me just translate that for you quick. What he's saying is you don't want to ban short selling. That's an overly dramatic response. It's not as simple as short sellers versus retail guys, because what happens? Well, for every short position, someone who thinks the stock's going to go down, there's a counterparty that thinks the stock's going to go up. That's why he lent the stock. Remember, to short sell a stock,
Starting point is 00:21:16 to short sell, you have to borrow one. So people who are long and think, no, no, no, I think these short seller guys are idiots on GameStop. I think GameStop is going to go up and you're going to hold the stock for a long time. And that's an easy way for you to make money, right? Just lend the stock out at really high fees to people, short sellers, who in this case got burned, but lend the stock out to them while you sit on it forever. Not only are you making money on paper as the stock goes up, if you believe it's going to go up, but you're also making money lending it out to various people. What a deal. Paula, that make sense? Thank you.
Starting point is 00:21:56 You sure? That's a double nod. Remember, there's always a counterparty. There's always someone on the other side of the trade who thinks they're going to make money too long, that the stock's going to go up. Hey, I'll lend it to these short seller idiots. What? It's just great. You mean I don't have to sell my stock? It continues to go up and I can lend it to you for a nice little fee?
Starting point is 00:22:17 What a deal. So don't instinctively jump to the we gotta ban short selling because there's someone on the other side of that who believed in GameStop that made money off these idiots too I don't want to go but they really were idiots I'll explain these short sellers they really were stupid and I'm sorry but sometimes stupid people have to be taught a lesson with money coming out of their own pocket to not do it again. So, again, I'm giving you the other side of the story here. Jumping to the conclusion, like leftists do, that we should ban short selling and use government to do it, is not necessarily the answer here.
Starting point is 00:22:59 Because there were people who went long, not short, who made money off the short sellers, too. If there's no short selling, then there's no one going long either. Here's the second part of my other side of the story. So we have a full cornucopia of debate tools involved here. We're not just stuck in dopey liberal boxes where we have to make stuff up and say, hate speech, short sellers. That's not an argument. There's nuance. See how I always fit these shows into a larger narrative? Nothing's black or white.
Starting point is 00:23:33 Everything is nuanced. Everything. So it makes us different than them. Oh, us versus them. Where have I heard that before? So it makes us different than them. We understand nuance. Another Wall Street Journal article I found today.
Starting point is 00:23:50 Again, giving you the other side of the story on GameStop. This is by David Batten. Why brokers had to restrain trading in GameStop shares. They were minimizing their own financial and regulatory risk, not trying to bail out hedge funds. Now, this one's a little tougher to believe. This is the, now the first article was a defense of short selling. Okay. Not my defense, a defense. I want to be clear. I don't want any hate mail. You know where I stand. I'll give you that in a minute. This is a defense of Robinhood. You got to hear it. If you don't want to hear it, you know, that's liberal stuff. There's nuance.
Starting point is 00:24:26 Robinhood, a trading app, that disclosure used to be a sponsor of the show. They aren't anymore years ago. But Robinhood was a trading app that shut down purchases of GameStop at one point. You were only allowed to buy one stock and investors were notably pissed because they're saying, wait, wait, wait. Buying GameStop would drive GameStop would drive the price up. You're limiting our ability to buy it. Are you guys protecting the hedge funds? I don't know, but I can tell you it's not as simple again.
Starting point is 00:24:59 An argument is Robinhood bad, us good. It may be, and time will tell as we find out the facts of what Robinhood exactly did, but we don't have it all yet, but we do have some things. Robinhood's defense is this, and I'll just read this from the Wall Street Journal piece where this guy gives the other side of the argument. The broker, he's talking about basically Robinhood and they're working with clearinghouses. Robinhood basically has to deal with a clearinghouse that clears the trade. So he says the broker's risk is asymmetrical. If half of its clients, Robinhood, are winning big
Starting point is 00:25:30 by buying during a short squeeze, in other words, the stock's going up, while its short clients, the hedge funds, are suffering losses they can't pay, the broker can't offset these gains and losses, but must pay the winning clients while possibly eating the losing trades. It's rare, it is by the way, but brokers go bankrupt during market events like this. This is really rare. He goes on, brokers therefore are subject to strict financial requirements, including that they maintain large security deposits at the clearing houses. When risk rises, clearing houses raise their requirements even intraday. On January 28th,
Starting point is 00:26:10 when GameStop dropped from $483 to $112, the clearinghouse DTCC raised requirements by an aggregate 7.5 billion. Brokers had to post that money to DTCC whether or not their clients had it now without wasting a lot of time on the show on margin and losses and bankruptcy the core of it is this there's ways to buy stock on margin so you use this collateral some of the assets in your account to borrow money from a broker to buy more stock.
Starting point is 00:26:45 Well, that's great if the stock is going up, but what happens when the stock drops from 483 to 112? The answer is that's a lot of money Robinhood is going to have to post with a clearinghouse. The clearinghouse might say we need more money. Robinhood and some of these other brokerage houses were suggesting they were running low on money. So it was more of a margin issue and things like that, where they were running out of cash to balance the books, so to say. Well, others have said, well, you raised a whole bunch of money the next day. They did, Robinhood. So was that really the story? Again, the other side of it is, or were you just protecting the hedge fund guys from losing any more money by stopping the retail investor from driving the
Starting point is 00:27:29 stock up even more? Facts will tell. History will tell. But again, you have to know both sides and understand the nuance here before we jump to any easy, simple answers. But may I suggest here that we're entirely missing the point. What do you mean missing the point? It's your point. It's your show. I'm giving you both sides so you understand the finances and the math behind it and you don't jump to simple things like Trump said drink bleach. That's just silly. Or Trump being banned is hate speech. I want you to understand the nuance because I think those arguments, while we flesh them out over time and we find out if Robinhood, what their real motivations were for shutting
Starting point is 00:28:11 down a degree of trading in GameStop stock, and when we discover over time what really happened with the short sellers and why they were dumb enough to short, what, 140% of the float? Short more stocks than they could even borrow to pay back? May I suggest to you that the point here is really an us versus them argument, and that's why I keep talking about this, that that stuff we'll find out over time. But I don't want you to get lost in that. I gave you that as some background. I think this is a bigger story. And I think the bigger story is that, as I said yesterday, the game has been rigged a long time and a whole lot of retail investors, great unwashed Americans like you and I are getting really pissed off
Starting point is 00:28:57 that whenever these benefits tend to accrue, they tend to accrue to the big guys. And when those benefits get taken away by a group of retail investors that figure out how to take knowledge and use it themselves, something that hedge fund investors have marketed for a while, we know things they don't. When retail investors figure out something they didn't know, all of a sudden they want to stop trading on game day and make sure they protect the big guys who've been taking advantage of the system for years. I think they're missing the point. The point is the larger us versus them. And I've seen it exemplified in a number of spectacular pieces. Small ask. Again, please go to my show notes and subscribe to my show notes where you can find the articles I discuss on the show every day. You can access my newsletter,
Starting point is 00:29:42 also known as the show notes at Bongino.com slash newsletter. Subscribe for free. I will send you these emails every day after the show, and I strongly encourage you to read these articles yourself. Americans are not necessarily pissed because of short selling, even though I described that to you, and Robinhood shutting down trading. They're really pissed because they feel like the rules are rigged. And the minute they benefited the expense of the connected few, all of a sudden the SEC got involved.
Starting point is 00:30:13 The Biden White House was monitoring the situation, monitoring what? A bunch of working class Americans that made some money on a knowledge asymmetry that hedge fund people have been selling to their clients for years. Now it's a problem. It's exemplified by a wonderful piece. Listen, this piece is a tough read. Tough read, meaning you're going to have to sit down a minute and read this one. It's long, it's detailed, and it requires you every paragraph to stop and think. It's in Tablet Mag. It's called The New Americans by David Samuels. Again, in the show notes today. In a moment of anger, chaos, and disintegration, they gave us hope. The article is about the retail investors that beat the big guys.
Starting point is 00:30:59 And he describes in this piece, it's very long, but worth your time, why, again, this is not just about Robinhood stop and trading, short positions for hedge funds getting worked over. It's not about that. It's about other things. Here's a great paragraph from the piece about this circular shoulder massage circle of Washington, D.C. folks that go to work at hedge funds in Goldman Sachs who then go back into government
Starting point is 00:31:22 for even bigger positions, who then leave government and go back to work for Goldman Sachs, where they get a bigger raise than they had before, who then suggest to their former friends where they used to work in the White House and in government rules that will benefit big companies and big hedge funds and big business at the expense of the little guy. This is what's bothering people, how the minute the little guy strikes back, all of a sudden the big guy, the connected few, the elite class, the bow tie wearing crowd gets really pissed off.
Starting point is 00:31:49 In the tablet mag piece, this guy, David Samuels, who suggests that there's a renaissance coming, a new America will come out of this. He says, quote, and if you still don't agree, join me in considering the alternatives. Janet Yellen, Joe Biden's new secretary of treasury, took more than eight hundred thousand dollars in speaking fees from Ken Griffin's Citadel Capital, where Biden's spokeswoman Jen Psaki's brother works doing whatever hedge fund bros do with big time White House family connections do. And no doubt raking in those big fat bonus checks for which hedge funds are famous. So which side are you on? Yes.
Starting point is 00:32:32 In other words, you've been told forever, as I've been talking about for the last few shows, and I think it's really resonating because we're getting a lot of nice emails about it, that the sellout GOP, the rhino class of the GOP, and basically the entire Democrat Party have entirely sold you out. Any nonsense, myth-making, whatever you're hearing that the Democrats and the Republicans
Starting point is 00:32:59 are in it for the little guy, they're there to boost the little guy, make for a more fair and equitable society, is total BS. It's nonsense, garbage, trash, burn it. It's a dumpster fire. They are in it for their own jobs, their own power, their own jobs in these hedge funds and connected Wall Street companies afterwards, where they then rigged the rules with their former friends in government to make themselves rich. Cut the crap that they're in it for the little guy. He talks about it in that piece. I want to get to another piece in a moment, but you know what? Let me get to my third sponsor and I'll finish
Starting point is 00:33:33 because Epic Times has another angle to this. How they're really pissed off that the GameStop crowd outsmarted the elites that have told you for years, give them the extra money, the hedge funds, because they know things that smelly people don't know. Well, the smellies finally beat them. And now everybody's pissed because they're a little circular massage squad. They're all massaging each other's hair. Joe Biden in the middle, the king massager. He loves massaging
Starting point is 00:34:02 everything, Joe Biden. They've all massaged each other for years and they've made out like bandits. Now they're upset like the bandits they made out have lost their money themselves. Wait, we stole the money from others. You can't steal it from us. That's not cool. More on that in a minute. All right. Today's show also brought to my friends at Liquid IV. Half of Americans report they struggle with daily fatigue. I know I do. Some signs include decreased focus, lack of motivation, poor mood, and general unhappiness. No one wants to be like that. Come on. With Liquid IV Energy Multiplier,
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Starting point is 00:36:09 All right. Now, showing you how people are generally pissed off again because they feel it's us versus them. The minute they make money, what happens? Well, check out this epic times piece being the show notes today. The establishment players strike back against GameStop investors. For what? For what? For figuring out that the stock in GameStop had been overshorted and that there was no way these guys were going to win? So now, of course, when the retail investors, you know, the great unwashed class makes money, what do the big guys do? They demand investigations.
Starting point is 00:36:44 Check out this from the Epic Times piece. What is dangerous amid this trading frenzy is that retail investors have been chasing prices so far above any sane valuation and that many will end up nursing losses, said Jack Inglis, head of the Alternative Investment Management Association, AMA, a hedge fund association, and a letter to members who have managed $3.7 trillion as of the third quarter. Well, when you go down further in the piece, you'll find out that a lot of these folks are saying, yeah, we'll help in any investigation. Investigation for what? You're worried what? That investors are going to make sane decisions with their own money? And you're saying, oh, well, they're all going to lose.
Starting point is 00:37:25 Well, if they're all going to lose, what's the problem? Why are some of these people so eager for a government investigation into what happened? Again, because the bow tie wearing class gets really pissed off when they sell America on the whole idea forever that they have a set of knowledge you don't. Therefore, you should give hedge funds your money. And then they get outsmarted by a bunch of retail investors who figure out that a lot of times the stuff they're selling is a bunch of BS, a bunch of air popcorn, a box air popcorn. There's nothing in the box but air popcorn. And they'll use their connected friends in government to get there.
Starting point is 00:37:58 All right, let me move on. You know, one of the great thinkers of our time is victor davis hansen and these stories all fit together today and again in this whole us versus them theme and how i think there will be the good news some great american renaissance that comes out of this where people figure out they do have power against hedge funds they do have power against hedge funds. They do have power against organized government interests coming after you all the time. But it's going to require us overcoming the prisoner's dilemma. It's an economics problem. A coordination problem.
Starting point is 00:38:38 We're learning to coordinate. We're learning to boycott. We're learning to tune out of Amazon and shut off your Amazon accounts. We're learning to fight back against organized moneyed interests that rig the rules against us. We're learning. But liberals are learning too. They're learning that democracy and meritocracy are more of a threat to them than they ever thought. Remember, those are their two biggest enemies, liberals.
Starting point is 00:39:06 A democracy and a power, a distributed power of voting masses. They want concentrated power with them and a meritocracy where you can work to get ahead. Liberals don't want any of that. Leftists definitely don't want any of that. They want power with the elites and they want you to shut up. You're the great
Starting point is 00:39:27 unwashed. You don't know better. Democracy and meritocracy are the two biggest weapons. This is another great piece. It's going to be a lot of kind of deep thought in today's show because we're using great thinkers, one of them, Victor Davis Hanson, a piece that'll be up in the newsletter. Again, Bongino.com slash newsletter. Check this out. Read it. American Greatness, the newsletter. Again, bongino.com slash newsletter. Check this out. Read it. American Greatness, Victor Davis Hanson. Why are progressives so illiberal? No, I didn't read that wrong. Progressives adopted identity politics and rejected class considerations because solidarity with elite minorities excuses them from concern for or experience with the middle classes of all races. Now, that's a lot for a title. Stand easy. I will explain. This is something I've been trying to hammer home to my show audience
Starting point is 00:40:18 for a very long time. Forget the liberal hype that liberals are in it for the little guy. They're in it for the minority community. All that is garbage. Forget it. It's all nonsense. I'm going to call Joe back. Hold on a second here. Call my friend.
Starting point is 00:40:34 We got to call Joe on the cell phone. Don't cut this because I don't want any unnecessary edits of the show. Poor guy gets cut out of the show if he can't hear me on the cell phone. Liberals have hated two things from the beginning. They've always hated a meritocracy, and they've always hated democracy or distributed power. Keep those two things
Starting point is 00:40:51 in your head as we talk about this. Sorry, that was a lot. All right, we're going to have to... Sorry. Poor Joe. Joe, if you're watching later on, my apologies. They love authoritarianism. What are you laughing at? Oh, with Joe? Poor Joe Apologies. They love authoritarianism. What are you laughing at?
Starting point is 00:41:08 Oh, with Joe? Poor Joe getting cut off. Just send him a text. Tell him he likes to hear the show. I'm on the road. Can I just give you, can we just tell him, listen, we're on the road. Here's why the show looks different. Because I've been getting a lot of questions. It's not that a couple of people wrote on, in comment sections, they said,
Starting point is 00:41:26 Dan, the show looks different. The camera quality is not as good. Here's the reason. I don't want to make this show about my battle with cancer all the time, okay? You guys have lives and every, a lot of my listeners have cancer themselves. You don't need to hear my TARA stories, okay?
Starting point is 00:41:40 But I'm on the road and I just, I didn't say anything because I don't want the story to be about the cancer all the time. I'm in Houston getting treatment at MD Anderson. I'll be here till Friday and then we'll be back in a normal studio. So what you see around here, too bad we can't pan the camera. It's just a hotel room. This is not my home studio. We'll take a picture for you. We'll put it on my Instagram. All right. But we spent a lot of money to put, not that you're supposed to feel bad for me, but we spent a lot of money to do this
Starting point is 00:42:11 instead of just taking two weeks off because I really feel an obligation. I mean that to you, an obligation to get the show out every day. These are tough times. I can't run away, but that's why I didn't say anything. But the comments are getting to be, people think like we really yeah what's wrong with your show you guys skip it on the quality no it's just not the camera we have at home so that's what's going on by the way and that's why joe is on the phone just so you know he's texting me now lost you all right hold on let me we'll try one more time with joe because he does feel but that's why joe we every, what happened to Joe? What happened to the bell?
Starting point is 00:42:46 Let me tell him he's going to be part of the show here. Stand by. We will get back to this Victor Davis Hanson piece. Hey, Joe. Yeah, I got you. All right. All right. You're on the show live.
Starting point is 00:42:56 We're not cutting this out. So I felt bad. I told the audience what happened. Yeah. All right. All right. Go back on mute for a sec. So you don't want to hear Joe gargling in the background.
Starting point is 00:43:04 But thank you. Joe is, in fact, back. So there's like two minutes you may have missed where I explain what's going on, Armacost, just so you know. They know now we're in a hotel studio. But that's the story. All right. Getting back to this piece. power. Why do they hate meritocracies first, where merit matters, hard work? Because most liberals, I hate to say this, not all, but most liberals, ladies and gentlemen, are grossly incompetent and really not that smart. So they don't like a meritocracy. They want an old school European aristocracy where their last name, Thurston Howell VI, their last name and their gentlemancy they got at Harvard is enough to put them in an elite ruling class. They don't want to have to work. What do you mean? I got to go mop the floor. They've never mopped the floor in their life. Remember my get a mop show. They've never gone out and been a charge of aisle four in a key food. Like I was when I was younger,
Starting point is 00:44:00 it was a big deal to me. Laugh all you want, liberals. I was in charge of aisle four. It was the coolest job I ever had. I was honored after six months of stocking shelves when they said, Dan, key food on Metropolitan Avenue and Forest Hills, you are going to be the aisle four manager. It was a proud day for me. I'm sure liberals on the Harvard class, you got your C, Thurston Howell, the 62nd, who's never mopped the floor in his life, class you got your c thirst and howl the 62nd who's never mopped the floor in his life is laughing right now ah damn bongino proud of having mopped the floor you're damn right i'm not using the lord's name in vain you are damn right i'm proud of mopping that floor i'm not kidding it's not a joke i don't mean it to sound that way it's not a joke i was proud of that i'm still proud of that i used to mop that floor in aisle four. They had this purple chemical,
Starting point is 00:44:46 and then you put the shine stuff on later, and you buff it out. Couldn't be too slippery. You didn't want anybody to fall. I made sure all those cans were leveled. I made sure if we were down a product, that thing was ordered stat. Used to have to do it on paper back then.
Starting point is 00:45:00 My displays in aisle four, you'd cut the displays. We had spaghetti in that aisle too. So you had to be careful. Remember in the old days before they came in and did it for you, these fancy displays back then, you used to cut them yourselves. Let me see. Can you see the scars? Look, if you're watching on my shoulder doesn't work, but can you see those scars there on my lower arm? That was from cutting a display. When you're cutting spaghetti, you got to cut sideways or else you would cut into the spaghetti box and the spaghetti be everywhere.
Starting point is 00:45:25 So you'd have to cut in an angle. Required a little bit of skill. So one time I cut and I missed and I sliced my arm open and got about 30 stitches. You can see the video if you want to watch this. It's right there. Sorry, my shoulders don't. Can you see it, Paula? You can't see it?
Starting point is 00:45:39 Well, the scars are there. She can vouch for me. She's seen everything. Better or for worse, scars are everywhere. She can vouch for me. She's seen everything. Better or for worse. Scars are everywhere. I was proud of that. But the fact that I had to mop a lot of floors, I had to clean mausoleums in the cemetery. I had to patrol really dangerous streets
Starting point is 00:45:57 in the 75 precinct of East New York as a police officer. I had to stand post as a rookie secret service agent in front of a door for 12 hours on midnight, staring at paint on a wall. And then I managed to succeed by doing that, by taking risks, leaving, running for office, starting my own business, investing in Parler and Rumble. Parler be back, by the way. We will be a success. That bothers them. That bothers leftists because they don't want to have to do any of that. They think their
Starting point is 00:46:25 last name, their DC connections, and their Harvard C is enough to put them into the new aristocracy to rule over you. So a meritocracy drives them absolutely insane. They don't want the smellies competing with them. They don't want people who mop floors in their class they hate distributed power to constitutional republics and democracies because then you can vote them out of power they don't want that it dilutes their elite power more power given to the people means less power to them. That is zero sum. So Victor Davis Hanson asked the question in this terrific piece, well, why are liberals so illiberal or not liberal while claiming to be actually liberal? Well, let's go to screenshot number one from the piece because it describes perfectly this us versus them attitude and how liberals are the real them and we're the real us,
Starting point is 00:47:24 despite them telling you they're in it for us, the real them and we're the real us, despite them telling you they're in it for us, the liberals. First screenshot from the piece. When small investors at Reddit drove the pedestrian GameStop price up to well over 100 times its worth, forcing big Wall Street investment companies to lose billions of dollars, progressives on Wall Street and the business media cried foul. Oh, they hated that, folks. They compared the Reddit buyers to the mob that stormed the Capitol on January 6th. Wow, that's a strange one. One subtext was, why would nobodies dare question the mega profit-making monopolies of the Wall Street establishment? You're the nobodies, the smellies, the great unwashed. The point that neither the Reddit day traders nor the hedge fund connivers were necessarily healthy for investment was completely lost. You get his point here?
Starting point is 00:48:19 That, again, the them crowd, the connected Wall Street types, their Wall Street buddies, their DC buddies, their bureaucrat buddies, their regulator buddies, they were upset and they were suggesting this is a farce. These great unwashed masses that are buying GameStop stock are too stupid. And for their own protection, because they're going to lose a lot of money, we need to stop this right away. Oh, by the way, if you stop it, we won't lose a lot of money. We need to stop this right away. Oh, by the way, if you stop it, we won't lose a lot of money either because we shorted the stock. So stop them from buying it and driving it up. Well, what's interesting is,
Starting point is 00:48:52 as VDH says, Victor Davis Hanson, he says, you know what's fascinating? They're saying they're here to protect these guys from losing money if you just get involved while losing money themselves. They're claiming that it's not healthy what the retail investor did when with the retail investor in GameStop, all they did was expose the unhealthiness of the hedge funds. You notice how that argument goes both ways, but the elites don't see it or just don't
Starting point is 00:49:24 care? Again, they hate a meritocracy. Competition drives them crazy. Don't you dare compete with them in the knowledge game in the stock market. But Victor Davis Hanson goes on. It's not simply about GameStop. This is a great piece. Please read it.
Starting point is 00:49:41 Screenshot number two. How, again, liberals are quiet communists and are really illiberal at heart. Many progressives professed early admiration for the supposed efficiency of Benito Mussolini's public work program. Mussolini, who ironically was a journalist before he became a fascist tyrant, public works program spurred on by his depression era fascism and his enlistment of a self-described expert class to implement by fiat what was necessary for so-called progress. Weird how liberals admire these fascists all the time. Really crazy, huh? He goes on. Even contemporary progressives have voiced admiration
Starting point is 00:50:17 for the communist Chinese's ability to override, quote, obstructionists, to create mass transit, high-density urban living, and solar power. Early on in the pandemic, Bill Gates defended China's conduct surrounding the COVID-19 disaster, suggesting the virus did not originate in a wet market, was conspiratorial. Travel bans were racist and xenophobic. In contrast, had SARS-CoV-2 possibly escaped by accident from a Russian lab in our hysterias we might have been on the brink of war so screenshot number one he talks about the GameStop thing screenshot number two he talks about why is it that liberals always have a love affair with tyrants
Starting point is 00:51:01 Mussolini the Chinese government communists the New York Times love affair with tyrants. Mussolini, the Chinese government, communists, the New York Times love affair with the Soviet Union. Why? Go back to how I told you to view this segment from the lens, because what do they have in common? The Chinese Communist Party, the Soviet Union, Mussolini's Italy at the time were not meritocracies. They were a band of people, elites, who took control and in some cases basically enslaved populations to their deadly ideology. And number two, they were not meritocracies. They were not democracies at all. They were authoritarian governments. Leftists love that because it gets the great unwashed out of the way. They can't work their way up through a meritocracy and they can't vote
Starting point is 00:51:55 to change it. They win. Here's the third screenshot from VDH's piece. He says, quote, So it's understandable that progressivism can end up as an enemy of the First Amendment and intellectual diversity to bulldoze impediments to needed progress. To save us, sometimes leftists must become advocates of monopolies and cartels, censorship, and the militarization of our capital. I thought leftists were against those things. Cartels, monopolies, censorship, militarization of the Capitol of the United States. I thought leftists have told us they're against that. Of course they're not. They are for anything that destroys a meritocracy, enforces their power structure, and doesn't distribute democracy to the voting class and the great unwashed or the benefits of their elite class. They'll support anything. So how have they gotten the middle class they've screwed over for so long? I'm providing the evidence to you every day now. How have they gotten over over time in getting middle-class
Starting point is 00:53:05 people a lot of people in the suburbs voted for joe biden how have they fooled allegedly smart people wealthy suburbanites and others middle class and upper middle class folks for years how have they fooled them into continuing to vote for them to put them into power well first you know let me get to the fourth screenshot. You know, why, what's the point here? Well, VDH has a great point here, and I'm going to get to this Fred Siegel book afterwards about how, you know, being a part of this progressive elite, how do they convince themselves they're on the moral right, the moral arc of history on the right side? He says, more commonly, progressivism offers the
Starting point is 00:53:46 elite, the rich, and the well-connected medieval penance, a vicarious way to alleviate their transitory guilt over privileges such as a $20,000 ice cream freezer or a carbon-spewing Gulfstream by abstract self-indictment of the very system they've mastered so well. Progressives also believe in natural hierarchies. They see themselves as an elite certified by their degrees, their resumes, and their correct ideology. Our version of platonic guardians, practitioners of the noble lie to do us good. In its condescending modern form, the creed is devoted to expanding the administrative state and the expert class that runs it and revolves in and out from its government hierarchies to privileged counterparts in the corporate and
Starting point is 00:54:29 academic world. So how do they get away with this? How do leftists get away with selling their BS line to the media that they're in it for the little guy while simultaneously screwing over the little guy? Doesn't that create some cognitive dissonance? Doesn't that create some, wait, I'm lying to people. I'm not in it for the little guy. I'm actually trying to screw over the little guy at GameStop and elsewhere that made money off my big guy friends. Well, they do it by lying to themselves. They do it by telling them, no, no, no. I'm part of the correct ideology. I defend Black Lives Matter. I've defended anti-fascists from Antifa, anti-fascists, but they use fascist tactics. No, they're anti-fascists. I don't want to have to
Starting point is 00:55:10 think about the nuance. But this is important. And I'm going to read to you a quote from the great Fred Siegel book, Revolt Against the Masses, a classic. This is an actual screenshot of my book because it describes, again, how leftists delude themselves into thinking they're helping you and sell that line of BS to the media while simultaneously screwing you over in the middle class at the same time. Let me get to my fourth sponsor. We'll get to that. And then we'll get to Thomas, the Thomas Sowell quote from his book as well about how they fool the middle class and get them to do what's against their interests, which is vote for the elite class that's screwing them over. Our last sponsor of the day, select quote.
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Starting point is 00:57:45 claiming to save them. Well, I've never heard it summed up any better than in a book by Fred Siegel, which we constantly drive up the book charts because you're a great audience. I have no financial interest in it. I don't even know Fred Siegel, but the book is amazing. It's called Revolt Against the Masses. This is an actual screenshot from my copy because when I read great books and I see passages I love, I take pictures with my phone to remind me of how deep and profound this stuff can be. He says in his book, the contributors to civilization in the United States, many of them Harvard men, were driven by resentment. Wait, resentment? I thought these Harvard elites were in it for you, the Obama crap. He says the so-called lost generation, explained Malcolm Cowley, was
Starting point is 00:58:26 extremely class conscious. Like Bourne, they had a vague belief in aristocracy and the possibility of producing real aristocrats through education, Cowley said. They went to Europe to free themselves, listen to this, to free themselves from organized stupidity, to win their deserved place in the hierarchy of intellect. They felt that their status in America's business culture was grossly inadequate given their obviously exceptional intelligence and extraordinary talents. Their simmering anger at what they saw as the mediocrity of democratic life led them to pioneer the now commonplace stance of blaming society for their personal feelings. Animated by a patrician spirit, they found the leveling egalitarianism of the United States
Starting point is 00:59:11 an insult to their sense of self-importance. You have a comment over there? What's your comment? Do you like that quote? You understand what he's saying here? Liberals hate a meritocracy because they can't compete. They're not as smart as you. They're not as hardworking as you.
Starting point is 00:59:32 And they don't want to mob floors because it's beneath them. So they hate a meritocracy. They hate this country. They hate the fact, many of these liberals, that you have to work to get ahead. And they feel that their last name and their Harvard resume is enough to put them in an elite aristocracy where they should be granted power over you simply because of who they are and where they went to school. Having to work for a living, that's for the little people. That's for the smellies. That's not for me. So they hate it. They're angry at it.
Starting point is 01:00:08 And they want to crush your meritocracy at every opportunity. They want to get you out of the way and stop your ability to vote their power away. They hate democracy in a constitutional republic. So how do they sell people the middle class and the idea that they're in it for them, despite every single thing they do, liberal, illiberals, crushing the middle class. How do they keep getting in power? Because they've learned the marketing business better than us. The marketing business on the Republican side is full of people who work at petroleum companies and elsewhere who really don't have marketing backgrounds because it's gasoline and other stuff. What's to really market?
Starting point is 01:00:48 But think about people who donate to leftist causes, the tech group and stuff. Think of their fancy Apple ads and all that stuff. They're really good at marketing people and selling the middle class on their own demise as they donate to leftists. Remember, Apple and all those companies are part of the elites. They'll never be damaged by the leftists. They're in it for big business. That's their thing.
Starting point is 01:01:10 Thomas Sowell, in his book, Wealth, Poverty, and Politics, describes how liberals fool the middle class into thinking they're in it for them while they quietly liberals hate the middle class. This is genius from his book. He said in the most varied conditions in countries around the world, rather in third world countries or in economically more advanced countries, and whether in countries where the majority of the minority has the higher skills, those seeking either the leadership or the votes of lagging groups tend to offer them four things. Here's the scam. Sound like the messaging liberals have used for years to get you to vote against your best interests? Number one, give them assurances that their lags are not their fault. So if you're
Starting point is 01:01:51 struggling in the middle class, it's not your fault. Don't worry. Assure them. Number two, assure that their lags are the fault of some advanced group that they already envy and resent. are the fault of some advanced group that they already envy and resent. Liberals, the rich liberals telling you that you're poor or middle class because the rich have taken it from you, while they're rich, is one of the great ironies of our time. This is genius. Number three, assure them that the lagging group and their culture are just as good as anyone else's if not
Starting point is 01:02:27 better don't you dare suggest that certain behaviors like not speaking in proper english or showing up on time don't you dare suggest that those might lead to certain failures in life don't you dare suggest that or we'll call you a racist. And the racist then will make another one while we'll protect you against the racists who are coddling you and not suggesting that, hey, learning to speak the English language in the structured way we all communicate with each other
Starting point is 01:02:59 and showing up on time. Don't you dare suggest it's racist. And meanwhile, suggesting that that's racist, it's racist itself. Because notice, I didn't say anything about anyone being a minority. I'm talking about anyone. My daughter, who happens to be Hispanic and white, my wife is Hispanic, I give her the same lecture. Is that racist to tell my daughter? No, Isabel, we don't say um and ah a thousand times because it doesn't sound professional. You're going to have to work in a professional environment one day. Do I not give that i not give that speech is that racist when i tell
Starting point is 01:03:29 my own daughter who by the way has learned to speak like an adult show up on time they'll tell you no no assure them that that that any kind of cultural thing that no no that's their fault not yours four assurance is that what the lagging group needs and deserves is a demographically defined fair share of the economic and other benefits of society, sometimes supplemented with some kind of reparations for past injustices or some special reward for being indigenous sons of the soil. That's what they do. that's what they do the liberals all the time in the elite class will tell you your failures in the middle class if they're failures at all your failures are not your fault it's those evil rich as they are the rich making sure you fail selling you on your own demise.
Starting point is 01:04:29 I'll wrap with this. I know we're going a little long today, but this story up in the show notes too, because this story exemplifies exactly what I'm talking about. Liberals can't stand you. They hate democracy. They hate meritocracy. They hate the idea of competition and hard work they will crush you these liberal wealthy elites and their government buddies as they
Starting point is 01:04:52 crush you they'll get you to believe the crushing is doing you some benefit red state by mike ford opinion piece these united states the tale of two cities down in the piece he talks about the current drama going on with Joe Biden's presidency, where he decided it would be a good idea with the stroke of a pen to crush the Keystone Pipeline, which promptly wiped out 11,000 high paying middle class jobs. I thought liberals and Joe Biden were in it for the middle class. So why did they just have them all fired? for the middle class. So why did they just have them all fired? From the piece, he says, nice job, Joe,
Starting point is 01:05:29 tossing people out of their homes before they're even finished building them. While you're at it, gut shooting the construction industry and the real estate market at the same time because some of the Keystone people got kicked out of the houses. Brilliant. And what does former Secretary of State John Kerry have to say about these now jobless folks?
Starting point is 01:05:43 He said, what President Biden wants to do is make sure that these folks have better choices, that they, the people, can go to work to make solar panels. The author says better choices? Build solar panels? That's almost as tone deaf as the horribly trite and clueless learn-to-code trope used by leftist politicians as they almost gleefully destroy real jobs of real Americans who actually make this country function. By the way, those real Americans are the ones who pay the taxes that fund the government cheese programs that Antifa BLM looters and arsonists and cop killers live on. Never have I seen a line exemplify better what we're talking about today. We are the elites, the smart ones. We have knowledge you don't. Democracy sucks because
Starting point is 01:06:29 you're too stupid. If you would just let us rule and stay in power, we will fix your helpless, vacuum lives. You're not the aristocrats like us, so just shut up and let us rule over you. If you don't let us rule over you, we will crush your job. We will then crush your job and we will propose an alternate job that fits our agenda because we've been paid off by environmental groups and others and wealthy people who don't care about things like oil jobs because they can just put expensive solar panels on their roof. solar panels on their roof. So they hate a merit-based industry,
Starting point is 01:07:09 petroleum, oil and gas. People like to put gas in their cars. Competition matters. Somebody discovered a century ago that oil was a good way to power our economy. They don't like that. So the meritocracy has to go down. They don't want you to be able to vote them out the environment is their excuse using what step three of thomas soul's rules was it step two or
Starting point is 01:07:32 three they're coming for you you're the environment's going to collapse tomorrow your middle class life is going to be a smokestack in your house we need to protect you against them. There's another group coming for you. We'll protect you. And we'll save you by making others pay the rich. Yeah, but you are the rich. No, no, not us. I'm not going to pay John Kerry. I'm talking about the other rich people who've made money in industries. We don't like, like the oil folks who will tax to death while we give a benefit from those taxes to solar people who'll be billionaires themselves. Cause we like them. We just don't like the oil people because they're the dirty folks too genius john kerry talking about higher taxes and solar panels while moving his boat from massachusetts to rhode island to avoid paying mass Massachusetts taxes because the taxes were too
Starting point is 01:08:25 high while gallivanting around the globe in a private jet spewing CO2 all over the atmosphere while telling you your job has to go because there's a cleaner job for you in solar panels. Now you see why it's an us versus them they hate merit they hate the democracy and you're both the middle class is the meritocracy you made it to the middle class not by your connections but by mopping that floor and making sure it was the cleanest floor in that supermarket and someone promoted you to manager one day and then maybe one day day as a manager, you bought part of the supermarket yourself, or maybe you got a nice job as a manager in a bigger supermarket one day.
Starting point is 01:09:10 They hate that. They hate that. They especially hate the fact that you worked up to manager for an oil company one day and a company that produces the energy we need to run the entire economy because they told you solar panels were better. And then by the way, when they leave their government jobs, they go work for an environmental
Starting point is 01:09:27 activist group as the chairman of it, making 500,000 a year. What a gig. All right, folks, thanks again for tuning in. I really appreciate it. Again, as I ask every day, please make BonginoReport.com your one-stop shop for your morning news. We aggregate the best conservative news stories of the day. We have it all broken down for you. Economy, national security, culture, sports. It's an easy homepage. It's like reading a newspaper.
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