Jason Hartman starts by sharing a report from Redfin about properties that are selling for over the list price. He also explains why the RV ratio isn’t as valid today as they were when he started. In the interview segment, he welcomes Michael Rectenwald, author of Beyond Woke and Thought Criminal. Michael feels that the event on January 6 will exacerbate the censorship happening now. Later, they discuss the reason for the wokeness movement, corporate socialism, cryptocurrency, and decentralization.
Announcer 0:02
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Jason Hartman 0:52
Welcome to Episode 1661 660. And you know what that means today is a 10th episode show. And our guest will be talking about a major cultural phenomenon, a global cultural phenomenon, for better or worse. And I say probably for the worse. But he’ll be with us in a minute to give you some insights on that. But first couple updates on the marketplace. Redfin is out with a new report showing that the sale to list price ratio has surpassed 100%. Yes, properties are selling at more than 100% of their listing price. Surprise, surprise, surprise as Gomer pile would say. I know a lot of you don’t understand that reference, because that was a very old show with a character named Gomer pile. And that was his famous line. Surprise, surprise, surprise. It was always funny when he said that, yes, listings are selling for 100.1% of their list price. Right now, as a result of very, very low inventory. Back on November 28. They were selling for 99.5%. Still very much incredible. Even to April of last year, right in the midst of the pandemic, we saw property selling for. And I’m reading from a chart here. So I’ve got a sort of estimate the numbers when they’re in between, I’m going to say that’s 98.8% right around the typical temperature of the human body right there. That means you don’t have a fever if you’re checking your temperature. Now back in 2019, a year before we saw prices, or properties selling around 97.5% of list price in January of 2019. In the middle of 2019. That number went up as inventory was declining market was heating up to where at the highest point during that year, we saw property selling at about 98.6% of list price. And then by the end of 2019, we started to see a decline where properties were still selling at a higher percentage of list price then they started 2019 with but they were down to just under 98%. So certainly 2020 better than 2019 and 2021. Absolutely in same property selling above list price. I did a show on this recently. And our investment counselor team internally has been talking about this lately. And they’re talking about you you clients out there. And what they’re saying is they’re saying that some clients are finding it hard to pull the trigger on properties, because they want that coveted 1% rent to value ratio.
Now, I was one of the early people talking about this. And I calculated the rent value ratio as a percentage of value. Notice the rent to value ratio or the RV ratio as I call it is not called the rent to what you paid for the property in 1994 ratio. Now, it’s called the rent to value meaning current value ratio. And that is important because the current value recognizes an opportunity cost that you may not be taking advantage of. You may be suffering from an opportunity costs, if you bought the property years ago, and that deal from years ago, looking in the rearview mirror is like that nostalgic, older person. And I’m finding myself becoming very nostalgic. you’ve, you’ve heard the clues on prior episodes about that. And I guess that’s just what happens as we age. We say, well, sonny boy, when I was your age, you could send a postcard across the country for three sets. And, and, and you could buy a meal at McDonald’s, and get a fries and a soft drink and burger for under $1. That’s how we are right, we get nostalgic about this stuff. Now, that was not all necessarily true. When I was younger, I would not say that. I’m not that old. But you get the idea, right? Well look, the rent to value ratio that I established back in 2004 of that ideal rent to value ratio being point seven to 1% of the value. And at the time of a purchase decision. That’s the purchase price. Typically, those are typically the same thing. Well, you might remember my somewhat recent episode on this, saying to you that the rent to value ratio now needs to be reconsidered, revised, it isn’t valid at the same rate as it used to be. No, it’s not. Why not? Well, let’s go back and look historically, at interest rates. Because these two things are correlating in a big, big way. The 30 year fixed rate mortgage on an owner occupied property owner occupied property in the middle of 2004 was 6.29%. Compare that to the rate you can get on an owner occupied property today. Well, it’s about half that.
Okay. So what does that mean? Now, consider non owner occupied rates, which are always higher than owner occupied rates. So if you look back to 2004, and you said the non owner occupied rate would probably be point five or, you know, 50 basis points to 1.25% higher than those owner occupied rates. So that means an investor would typically pay around 7%. For that 30 year fixed rate mortgage still, actually quite a phenomenal deal, back in 2004. And now, they can get a deal for about half that. So the interest rate making the principal and interest payment decline significantly, the PMI declined significantly. But the prices are higher, and the taxes are indexed to the price. And insurance rates are higher, because you know, this was a pre versus post Katrina world. And hey, Katrina is still with us. She just won’t go away that Katrina, she has really changed the insurance industry forever. Katrina’s wrath, hell hath no fury like a woman scorned, as Shakespeare said, so Katrina is still with us, about 16 years later, and she has changed the face of the insurance industry. I’m talking about Katrina, the hurricane. If you’re a human Katrina listening, no, this is not about you. This is this is not about any Katrina, any of you know, this is Hurricane Katrina, as I’m talking about that. So your interest payments are so much lower the debt service on that property, it would make the question, what is the compared to what ideal rent to value ratio today? Well, if you get an RV ratio of point five 2.7%, meaning the $200,000 house, that awesome $200,000 single family home that you find at Jason hartman.com slash properties, or really, for practical purposes, you’re gonna find it by working with an investment counselor on our team. Okay? If you get That property, and you get it at a point five 2.7% Rv ratio, the numbers are still looking pretty decent on that, folks. I mean, actually not bad at all. Because your interest rate your debt service costs are so much lower. That’s why it’s made the old rent value ratio somewhat obsolete. And, look, I understand nostalgia, I understand that you still want the 1% rent to value ratio. And I also know that you can occasionally get pretty close to it through our network. But, but if you’re holding out for that ratio, and expecting it on high quality, new construction, or beautifully renovated properties, you’re probably going to be waiting an awful long time.
Can you hear the crickets chirping? Yes, I don’t have a sound effect for that. Sorry, I don’t think I do. No, I don’t, Oh, well. So the crickets are chirping. And you might be, as Sarah would say, shooting yourself in the chute, as opposed to shooting yourself in the foot, because you are expecting something that is largely not attainable. And therefore, you will be precluding yourself from good opportunities that are available today. And you don’t want to do that. You don’t want to do that. Okay, that’s a little more on the rent to value ratio. Hopefully, you checked out, or remember a recent episode that I did on that maybe a couple months ago? I don’t know. I don’t know when find it at Jason hartman.com. Use the search engine there to check it out. The stimulus package, the stimulation, are we all stimulated yet? Not quite. But how much stimulation Are you going to get? versus all of these other things? Well, good old Biden, are installed president with his $1.9 trillion stimulation package? Where is it all going? Where is it all going? Well, everybody, I mean, I’m not gonna get I didn’t get a check last time. But you know, some people, you know, most people will get a check, right? The check is in the mail. As the saying goes, they’ll get a check. But of the $1.9 trillion, only 400 a measly a measly $410 billion of that will be stimulus checks. The rest is going to pork. Yes. pork barrel, right. As the old saying goes, they layer on a bunch of special interests, a bunch of pet projects, this that. And the other thing, why can’t we just have a stimulus package where you just send everybody a frickin check. Because those people will spend those checks into the economy. Or, hey, they’ll go on Robin Hood, and blow them on speculative assets, creating a transfer to wealthy hedge fund managers. But a few will get out before that transfer occurs. And before the powers that be shut down on the platform, and screw over all the little guy investors. Nuff said about that. So 246 billion going to extended unemployment programs. Now, hey, that’s also a stimulus check for the unemployed, who are now getting an incentive to be unemployed, because it’s more profitable to be unemployed than to work a low end job. So hopefully, those people are not just sitting around watching TV and becoming losers.
Hopefully, those people are using this unemployment time to increase their skills, but you never know. So that is what it is. 360 billion goes to government, that will largely be a waste. We all know that. 194,000,000,002 other, whatever that means. 176 billion to education. 143 billion to expanded tax credits. Oh, that’ll be for the wealthy. Hey, I bet I’ll get some of that. I bet a lot of you will, too. Congratulations can tell you there’s we’re all getting the kantian effect. I don’t think it’s fair. I don’t think it’s right. But if they’re given it out, I’m gonna get my slice of the pie. 105 billion to health, whatever that means health 59 billion to small business 56 billion to transportation. Now that everybody’s staying at home and doesn’t need transportation. We got to spend 50 6 billion on transportation 16 billion on agriculture. So you see that of the, let’s call it $2 trillion. Only 1/5 of that comes out in terms of checks to you. Yep. Yep. Okay. So our guest today is going to talk about this cultural phenomenon called wokeness. And part of that is this movement, this idiotic, stupid movement of these lawless morons, to defund the police. Well, what do you know, it’s backfiring. Imagine that, and our guests will be with us in a moment to talk about this. But let me just give you a couple of quick examples. He’s not talking about defunding the police the whole time. He’s just talking about being a thought criminal and, and the cultural phenomenon of censorship and so on and so forth. Okay. So we’ll get to that in a moment, but on the defund the police movement, this idiotic movement? Look, I appreciate having cops around. I don’t appreciate when the cops become abusive, or they become tax collectors giving out tickets under the guise of public safety, which sometimes it is, of course, but a lot of times, it’s just a tax increase, right. But all in all, I like having law and order, and I appreciate the police.
Okay. And by the way, if you are in the police, the military, if you’re a first responder of any kind, be sure to check out my other podcast that addresses some of your specific things called the heroic investing show. The heroic investing show. Alright, defunding the police, it has backfired terribly in Minneapolis. Violent crime has jumped 21% last year in Seattle, violent crime, or homicide rate last year is at the highest. It’s been in 26 years. In Portland, the you know, all of these places are like centers of wokeness and moronic ideals, right. In Portland. Shooting injuries in the last year are up by 200%. So they’ve doubled in New York City. Violent crime was the worst it’s been in 14 years in Chicago. By November of 2020. The city surpassed 700 homicides. That’s a 50% increase from the year before. And a few months into this year. Minneapolis, Chicago and Portland are all backing down from their idiotic calls to defund law enforcement. Alright, if you need us reach out to us at Jason hartman.com or in the United States one 800 hartman on the telephone. And here is our guest, as we talk about a massive cultural phenomenon that you must be aware of. This is a 10th episode show. And on Wednesday, on our next episode, we’ll be back with all financial stuff, all making money all the time. But this is a 10th episode show something of general interest. Here we go.
It’s my pleasure to welcome Dr. Michael rectum Wald, and he is a multiple New York Times bestselling author of several books, including beyond woke the Google archipelago, the digital gulag, and the stimulation of freedom, springtime for snowflakes, social justice and its postmodern parentage, and the new book thought criminal. Michael, welcome. How are you? Fine.
Michael Rectenwald 18:39
Thanks for having me.
Jason Hartman 18:39
Yeah, good to have you. Good to have you. So you know, what you’re talking about is pretty darn timely. There’s so much going on. Where would you like to start?
Michael Rectenwald 18:49
Well, you let we could talk about what’s happening now with the what we’re going to see is the kind of purging and crackdown, further censorship, it’s going to be exacerbated now, because of the events of January 6. So we can talk about why just just why is big digital as I call them, Facebook, Twitter, all social media plus Google, why are they leftist and so forth? You know, why are they basically following a leftist playbook,
Jason Hartman 19:21
they can’t actually debate the issues on their merits. So they have to silence just like Hitler and Stalin and pol pot. And now in all the rest, they have to silence people. Because there’s no debating. There’s no debating on the merits. They can’t win a debate. It’s really a very sad state of affairs. I mean, to think that Twitter and Facebook shut down the social media accounts of the President of the United States, regardless of you can hate the guy if you want, and even when the gate accounts were up, he’s having to censor his own words. He’s having to self censor. Because they’ll put fact checker notices in front of the things, they will delete tweets, they will ghost tweets, or posts doesn’t have to be tweets, you know the drill, but
Michael Rectenwald 20:12
it’s happening to everybody. I mean, it’s not it’s going to extend from Trump, it’s going to extend to anybody that supported him. And any kind of I think that it wouldn’t be far fetched to say that just as you really can’t talk about Hitler on Facebook, or etc, you won’t be even able to use the name Trump, unless it’s in a derogatory fashion, I think what’s going on here is that we’re undergoing a revolution. And that is to say, this is been in the works for some time, what they’re trying to bring about as a kind of socialism. I call it corporate socialism. And that is to say that really China’s the model here, China has wealth producing private enterprise that’s directed by the state. And then very few small businesses and everyone else is more or less living in socialism, if you will. This is the model corporate socialism, as I call it, which is corporate oligarchy, local managers, combined with the state on top with kind of, actually existing socialism for the rest. That is the kind of two tier system where you have corporate monopolies running everything in connection with the state, and they produce everything and all production is directed towards them. And the control of information is in their hands. And effectively you have everybody else living under sort of subsistence conditions on with extremely abridged personal liberties, or rights will be an are being eroded daily. Yeah.
Jason Hartman 21:52
So let me just give a little context for that, if I could. So we have this situation where, you know, there has been this ongoing debate about social media censorship, about the mainstream media, manipulating all the puppets, all the pawns in society who aren’t, you know, thinking they’re not asking compared to what people cannot possibly know, evaluate, or believe what they never see or hear. They don’t ever see or hear it, there’s this giant void. It’s not like people in North Korea are walking around thinking about, well, what about this other way of life? You know, they don’t know it’s there.
Michael Rectenwald 22:29
You know, it’s completely shut down. It’s beyond censorship. It’s kind of a memory holding or dis disappearing of other views and other perspectives, and anything that can test the kind of corporate socialist agenda.
Jason Hartman 22:44
So to your point about the corporate thing, I just wanted to kind of give some context for that, if I may. So I say that COVID was the dream of the tyrannical dictator, because they could shut down all the small businesses, only the giant oligarchical corporations could be done very well through the whole thing. And most of these small businesses are owned by guess what Trump voters?
Michael Rectenwald 23:06
Right. Okay, exactly. It was it was a way to politically punish those who had really put liberty and self determination and the free enterprise system above all else. So what happened there was that we’ve lost according to the foundation for economic education, we will have lost at least 50% of small businesses over the COVID response measures, right.
Jason Hartman 23:32
And then you institute a universal basic income scheme. Everybody’s now forced to live off the government dole, whether they want to or not, they could be totally self reliant people. But this is the world they’re they’ve been forced into,
Michael Rectenwald 23:46
they’re being forced into it. Because other means of generating income through enterprise, you know, and business is being stripped of them being stripped. So we’re talking about a situation in which universal basic income will then come along, and they’ll say, we’ll see we save you, we’re gonna bail you out, and you’re gonna be fine. But you have to subscribe to our dictates, which will include a lot of contingencies, like, for example, the medical passport, the updated and regularly accepted vaccines for every mutation of the virus perhaps, and then without which you won’t be able to do much, you may not even be able to leave your residence. Right. So this is really what’s afoot. And so this is kind of a color revolution really. And I’m not saying it’s not China is involved, I really can’t parse out whether China’s just a model for the globalists or whether I have major influence over them, but the two are working hand in glove. In effect, the Chinese do propagate a lot of propaganda here. They started the lockdown propaganda and The first place as a way of responding to the virus, but it’s been picked up and run with by democratic dictators in this various regions, you know, using cynically federal notion of federalism. And in fact, they’ve used that as a way of instituting draconian lockdown measures that are just decimating beyond decimating our local small business Autonomy’s, and it’s going to get a lot worse in terms of restriction of freedom there. It’s like we’re dealing with the era of McCarthyism in a way and recurs now. Now we’ve all been earmarked all the big tech companies know who support to write, and they know who to come after, and who’s whose businesses to ruin online, not just in in physical and physical form, if they have a restaurant or a GM or something like that. They know who to ruin online, who the search engines can favor in disfavor. And as soon as the universal basic income is instituted, which we both know it’s coming or, you know, some version, we
Jason Hartman 26:08
don’t know exactly how it’ll work, but it’ll likely be in the form of some sort of expansion of the EBT program. That’s how they will deliver the money to people or through literally a digital dollar a cryptocurrency a Fed coin. And that will be on your phone and guess what they’ll be able to do? They’ll be able to make your money expire on your phone, right? You’d have to spend it in a certain amount of time, right? Nobody could say they could say that you can’t spend it more than three miles from your home. Right? Right. They could geotag it, they could, you know, say what you’re allowed to spend on and not spend on? It’s quite scary.
Michael Rectenwald 26:43
Yes, a digital currency will be a means of total control, because they’ll also be able to outlaw certain vendors that they can’t they can’t receive digital currency.
Jason Hartman 26:53
Yeah, I didn’t, I wasn’t thinking of it from the vendor side, just the consumer. But you’re right. Yeah.
Michael Rectenwald 26:58
So centralized digital currency, or CDC. And, you know, so all of this is coming together also, along with the vilification, of course of Trump, and then anybody associated with him, and the ripples will continue to go far out into from his closest advisors, but it’ll go far, far beyond that. So, for example, just recently, a football coach, I forget what I think in Georgia in Georgia, criticized Stacey Abrams, and was fired some Airlie just for criticizing Stacey Abrams, and saying something about how they fixed the Georgia runoff election, right, so lost their job. So we know about the book deal that was just cancelled, I mean, your book was cancelled. So they’re just going to cancel everybody that’s not in compliance. And it’ll take a while for them to, for it to ripple out to everything. Luckily, for myself, I have a small independent publisher, that isn’t going to cancel me. But how might they get to them? It’s really hard to say maybe they’ll be able to shut down their printing access. Right now. There are other things like that. So there’s always or the distribution through Amazon, things like that. Of course, Amazon is a big player here. And they have benefited from all of this corporate socialism already, to the tune of $50 billion. I believe, Bezos directly that is in his private holdings. I think he’s, I think he’s picked up 50 millions or more billion sorry. 50 billion or more over the COVID lockdown crisis. So they’re just you know, it’s it’s, again, it’s thinning out the herd, getting the underbrush of small and mid sized businesses out of the way funneling all production to these approved shareholders. stakeholder I’m sorry, stakeholder capitalist groups, to what caught what it has in common sub corporate socialism with state socialism is simply monopolization. monopolization is what state what socialism really is about a novel. It’s a monopolization of the means of production, distribution and avenues for consumption. This is exactly what is afoot. It’s only done in connection with these oligarchs at this in this case,
Jason Hartman 29:28
so you know what, you know, what is the you know, that they’re, they’re leading the pigs to slaughter? Right. Yeah. So the the leftist that wanted this and supported this, I say, are going to be sorry, in five or 10 years because they’re, they’re coming for everybody, not just you know, they’re they’re picking one group now. But believe me, nobody is safe.
Michael Rectenwald 29:55
They socialists who have been promoting socialism on the ground They will miss the free market, when it’s gone. If it goes all the way out of existence, they will miss the benefits of it tremendously. And their lives are being pared down, like everyone else’s, whether they recognize that or not, like the many aspects of life have been basically lopped off, if you will, for example, I mean, I have tried to visit my mother in a nursing home for six months. I haven’t seen her since then. And it’s not you know, it’s now getting to the point where I may never see her before she dies, she’s 96 years old. These kinds of things are just, they’re just taking away more and more aspects of life. As we go,
Jason Hartman 30:45
yeah, they really are. Is there anything we can do? Are there any action steps? Is there a safe space? to use them?
Michael Rectenwald 30:55
Well, you see what happens when people do take action, they become vilified, and you know, insurrectionists, or whatever. So anything violent will only make things worse, they’ll just use it for as an excuse for further repression. So That’s out of the question, I think the only thing we can do is build networks that are somehow non cancelable. And that can’t be shut down as easily as other things, and continue to assert the values that we hold. That is, you know, the values of liberty, free, you know, freedom speech, free enterprise, and freedom thought, really, because thought is on the table here to
Jason Hartman 31:42
tell us about that. How is thought on the table? I mean, is it with Elan musk putting a chip in your brain? Or is it something else?
Michael Rectenwald 31:48
well as in my novel thought criminal, for example, novels premised on this idea that there is this giant processing and database system called collective mind. And the state has? Well, they say there’s a virus that was released accidentally, but according to the hero of the novel, he was actually the protagonist, I should say, it was actually, you know, produced and this propagated intentionally. And the function of the virus, it’s really nanobots, what they do is connect the neurons of the neocortex to collective mind, they allow information flow between the collective mind and the brain. And this is very, this technology is very much on the table and under AI research. So we’re looking at, they’re gonna sell it as look, you can be connected to the internet, without going online, you’ll your brain will be online. So they’re selling it as this access to this fast information source.
Jason Hartman 32:51
And it will be so convenient or so necessary, they will make it necessary in some way. For you to survive and function, you’ll need it. Yeah, you know, it first, maybe it’ll just be something you like, but later will be something that’s basically required for existence in society. And you people will just fail, just acquiesce they’ll just do,
Michael Rectenwald 33:12
you will effectively be disabled, for a lot of use that word, that’s the one of the another word that’s been cancelled, will effectively be disabled without it. And that’s the way it will be touted and as a benefit as an enhancement, as as a transhumanist upgrading of your humanity. Whereas what it will allow is a total information control, including your thoughts, supplying them and also reading them in effect. I mean, I’m not kidding. This is not. This is science fiction in my novel, but the science fiction, the science is only it’s, I don’t know, I wouldn’t even venture to say 510 15 years away, if not less.
Jason Hartman 33:55
Yeah. Wow. Okay, so the question being, what can we do so form networks. But again, you know, in today’s world, you really got to use a platform for that. And of course, there’s gab but there’s parlor, there’s me, we, there are alternatives. But it’s very hard to break the network effect. Metcalfe’s law, you know, and that’s why Facebook, and Twitter just may have a commanding lead that is very hard to dislodge.
Michael Rectenwald 34:27
That’s right. Yeah, that’s, that’s right. It’s the network effect. So we have to try to, you know, use the network to try to build networks of color than the novel on networks of thought deviation, their deviation, it’s not because they’re deviant. Their deviation is because they deviate from acceptable opinion. And they also have independence of thought. And it’s not being controlled by collective like the mob, a collective technological, technocratic overseer. That’s the only I have right now i can’t i don’t i wish i had the answers on how to totally resist this and overcome it. But this is where I really, that’s where I have to leave it on that score. Yeah,
Jason Hartman 35:11
okay, well, what else do you want us to know? I
Michael Rectenwald 35:14
mean, you’ve got an awful lot of stuff in all of these books that you’ve done, you know, just wait anything you want to share stuff we’re not hearing in the news. I think pretty much the information is out there. And people, people that are listening, probably already know. But, you know, I really think that I want to, I want to discuss, like how this woke ideology functions and what it’s what’s what its use has been really, I think people don’t connect the pieces together, this is what I’ve been trying to do. So this wokeness is really the ideological component of all this. It is a means, of course, the idea is that, you know, when you’re woke, you become aware of how of social injustice. And so what really happens is you find that your whiteness has been given you this privilege that has been that to the disadvantage of others. And that nothing you own or have a rough j or have achieved is really a from your eyes, your own merit. It’s based on this privilege. So what does that set up, it sets up a situation in which this can be revoked. This idea of privilege is something that can be stripped from people. So that’s why they figure that such. So what the idea is here, this is the ideological component for making people accept reduced circumstances, reduced freedoms, and reduced potential potential realities. wokeness is really about leveling us to this lower level, second tier of so called equal fair economy. And basically it is about stripping us of anything that makes excellence rewarded. That makes achievement meaningful, and makes life for us living frankly, that’s what wokeness is about.
Jason Hartman 37:09
You know, it’s interesting, it’s also and it’s certainly not just whiteness, it’s all everything, you know, you have that someone else doesn’t have a it’s going to be a guilt trip, and you’re evil and so on and so forth. But, but it’s interesting that they want to glorify and reward these things that would normally be considered bad character traits, right? You know, if you’re, I mean, look at, for example, the seven deadly sins, right? sloths, right, you know, gluttony. Right? You know, they’re, it’s like their greed. You know, it’s okay. It’s okay to be greedy, if you’re a corporate oligarch, but it’s not okay to be greedy. If you own a little small business. You’re a news anchor. If you’re a news anchor, that makes four and a half million dollars a year, that’s okay. But if you’re a small business person who’s trying to eke out 150, grand, no, that’s evil, right? Evil. Yeah, absolutely.
Michael Rectenwald 38:05
So that’s, that’s been a differential application of this, of course, these corporate oligarchs don’t need to be well claimed their privilege is never really referred to as such, and their greed is fine, but yours is not if you try to sell something online, you know, it’s, it’s, it’s, they’ll smear you for it and so forth. But also, you know, this fatness, the idea that you can’t fat shame people that effectively saying that, you know, they’re promoting fatness as a virtue in effect now.
Jason Hartman 38:37
Yeah, well, and the food companies love it, because they get to give everybody obesity, diabetes, cancer, heart disease, you know, they’re basically killing the population, you know, and, and, of course, if we have socialized health care, that’s just going to cost everybody more money, too.
Michael Rectenwald 38:52
Right? Absolutely. So it locks people into this down, downward spiral, really, health wise, they’re, of course, eating processed foods and garbage. And, and they’re really trying to make people
Jason Hartman 39:07
addicted to all sorts of bad things.
Michael Rectenwald 39:10
Yeah. You know, they
Jason Hartman 39:11
close the gyms. But, you know, we often wonder, I mean, the concept of workers comp insurance, right? Like my company carries workers comp insurance. And it’s interesting that I have not heard of a lawsuit against Starbucks, where their employees have sued them for workers comp for making all their employees obese, and giving them heart disease and cancer and diabetes. Yet, every time I see a new person come to work at Starbucks, you know, a few months later, they’re getting big, but it’s, it’s just just like, if you work there, you’re going to eat the trash. They serve the poison they serve and they’re hurting you. They’re injuring you. Why isn’t there a worker’s comp lawsuit? against Starbucks? Well, Starbucks
Michael Rectenwald 40:00
woke. So that would be Yeah, that’s right. Starbucks. But yeah, McDonald’s or mentioned working at McDonald’s or Burger King or Wendy’s or something like that.
Jason Hartman 40:10
Well, those companies are evil because they’re not woke. But that Starbucks is great. Yeah,
Michael Rectenwald 40:14
Starbucks as well. So they’re immune. Yeah. That’s part of the other way that the wokeness works at immunizes. You. So what’s the fastest way to keep from being called a right? What’s the best way to keep them from being called a racist? It’s to accuse other people constantly. Exactly.
Jason Hartman 40:31
So you never have to look internally.
Michael Rectenwald 40:34
Right in the mirror? Yeah, well, it keeps the tension off of you as well. Yeah, you know, but those people will get eaten some of them anyway. Because this is a self immolating ideology. I say that the bright side is that this can’t work. It can’t last for long because it will fail. This corporate socialism, which of which woke ideology is the ideological foundation. It can’t work because there won’t be enough wealth production and innovation to continue to support growth. In fact, the World Economic Forum foundation is actually anti growth, anti GDP GDP growth they’re saying that we need to shrink the economy right? Because the economy is this destroying the it’s destroying you know our habitat it’s right it’s
Jason Hartman 41:34
one of those people none of those woke people at the World Economic Forum are giving up their private jets
Michael Rectenwald 41:40
that’s right never
Jason Hartman 41:41
their their big carbon footprint polluting private jets their multiple mansions in in numerous locations that they have to travel back and forth to and heat and cool. And construct.
Michael Rectenwald 41:53
Want you to have a car.
Jason Hartman 41:55
Yeah, yeah, but but but they’ve got their yachts that pollute like crazy,
Michael Rectenwald 41:59
right? Yeah, you’re not allowed to drive a car down the street that they can have, they can jet jet set around as well at will write. So it’s full of contradictions and hypocrisy, naturally, but just like the Soviet Union crumbled, and on the other thing is that China as such can’t can’t really succeed without the open economic basis, and free market of the United States. So it also its economy will implode, probably first, its economy will implode as the United States shuts down its innovative capacities and its entrepreneurial growth, China won’t be the first to implode because they’ve been operating on Keynesian economics. And effectively just trying to stimulate the economy with state spending, without real production for any value for things that anybody wants. They got, you know, buildings upon buildings just vacant, you know, they’re just producing, and then just making money from from exports, which will obviously eventually dwindle, because there’ll be less spending in the United States, thanks to all this. So there’s as the economy that should crash first man hours will be not far behind it. So then we’ll be picking up the pieces. As in the Soviet as, as in the after the fall of the Berlin Wall in the Soviet Union,
Jason Hartman 43:26
the only problem is that could take much longer than our lifetimes. That’s unfortunate. I mean, the Soviet Union took 70 years to collapse, and in this country has got a much bigger headstart than Soviet Union did. Take it takes a long time to destroy a country that’s been again, successful.
Michael Rectenwald 43:46
That’s true. Yeah, that’s, that’s the other thing we have going for it. So it was we have, we have a long history of, and traditions of liberty and in the value of individual rights, and individual autonomy and self determination,
Jason Hartman 44:02
but that the woke crowd has turned individual rights on its head though, they they’ve perverted the meaning of it.
Michael Rectenwald 44:08
Your rights are an infringement of my existence. You there violence, your words are violence, and but our violence is speech. Your speech is violence, but our our violence is speech, effectively. Yeah, they’re the they’re the foot soldiers. The anti fun Black Lives Matter activists, they’re the foot soldiers of this corporate socialism, they’re actually doing the work that these corporate socialists oligarchs want done. They are accessories to the crime Really?
Jason Hartman 44:41
Yeah. Yeah, they really are. So um, gosh, I just don’t, I don’t know where to go with this. Like, what? Every, everybody wants to know what to do. What how, you know, I mean, you think, Oh, well, two things. Number one, do you think there will be any kind of a secession movement or help, though? I mean, that’s, you know, you know what’s interesting? And before you answer that, and just let me give you a little more food for thought there. You know, it’s interesting to see the crypto currency rise kind of alongside this because so much of it is about economics and sound money. And, you know, then the crypto thing makes you free from the system. And I don’t know, you know what, yeah. What do you think?
Michael Rectenwald 45:28
I think cryptocurrency as long as it’s not centralized and, you know, controlled by the central banks is definitely went away way to build and continue to speed these networks that I’m talking about. It is a parallel system that could keep us from imploding all together. cryptocurrency is definitely one thing politically succession as another as the center of decentralization to basically drop off from the centralized system altogether.
Jason Hartman 46:02
The problem with succession in the sense that I can only think about it, and I think most people think about it, is that it’s sort of a state by state concept, and everything. So mixed up, how would you ever get, you know, I live in Florida, for example. Okay. And Florida is, you know, I think a pretty well run state I like,
Michael Rectenwald 46:23
Oh, yeah, you’re the best run in the country.
Jason Hartman 46:25
Yeah. And, and, you know, Texas also is the Lone Star State, you know, like, you those won’t succeed, because there’s too many people in those states that are woken, you know, have this is what, you know,
Michael Rectenwald 46:42
the central government, the federal government for income and benefits. So, yeah, that makes which is just the way they want. Yes, exactly. That makes it much more difficult. decentralization is the answer, obviously. How do we go about it is the question.
Jason Hartman 46:58
Yeah. And I’m guessing you don’t have a thought on how do we go about it? Because I don’t?
Michael Rectenwald 47:03
I don’t I don’t at the moment, I’m sorry. I, it’s, it seems to be enough for me to try to understand all this in the first place. Yeah. And then solutions is another matter which I don’t have at my fingertips at the moment.
Jason Hartman 47:19
Right, right. What I wanted to ask you also, though, Michael, is what about the age is is this like a millennial thing? Or, you know, if it’s a millennial thing, I mean, I look back to the 60s and the way the baby boomers were back then, when I watch old movies about Woodstock, and you know, Vietnam, war protests and so forth. You know, they kind of grew out of it, you know, they grew up, they became adults, and largely became responsible, not all. But
Michael Rectenwald 47:51
unfortunately, the ones that stayed and became academics did not grow out of it. And then they propagated their ideology to the next generation. And that’s where this has been going on. So this all began through the academic world through the university system. After this indoctrination into socialist for woke ideology, it all starts there. And that’s how you prepare the population for this kind of a pocket shift that we’re saying.
Jason Hartman 48:22
Yeah, right. Yeah, you know, if you went over the, the young people, you’ve won the, we’ve won the game, you know, it’s just so they don’t grow out of it. It’s what you’re saying.
Michael Rectenwald 48:34
What I’m saying is that it’s not necessarily a, an age. situation, it depends on circumstances. And the reason those people that didn’t stay in academia grew out of it is because they found it didn’t work in a free market free enterprise system where you could actually send and do well, if you embrace these values. Whereas in academia, it didn’t, those values don’t work in academia, the what values work in academia is more like a socialist ideology. So it’s not necessarily the page dependent, it’s situation dependent. So if the state is producing this kind of court, you know, two tiered corporate socialist system, then the socialist ideology will still flourish in that realm will still flourish. Because it doesn’t those people aren’t required or they see no benefit to embracing the values of free enterprise individual liberty and so on so forth.
Jason Hartman 49:37
Yeah, they’re it’s it’s a different system but but the University College government debt enslavement complex as I like to call it, you know, that system seems like it’s got to be on the way out even under Biden and Harris, you know, it just can’t last for work because it because it’s a ripoff. It’s a scam. If the whole off and it’s they’ve totally avoided reducing their cost with technology like every other industry has become cheaper, more efficient, better with tech. One one professor in every subject, just pick the best professor in the world, they can teach the entire planet on zoom.
Michael Rectenwald 50:18
Right? Then they’re doing this so that they are using the low tech, the losing high tech, low cost technology.
Jason Hartman 50:28
They’re not getting a discount they’re not passing it on to the consumer.
Michael Rectenwald 50:30
Not at all. They haven’t lowered tuitions one bit. Yeah, they’ll continue to rise. So yeah, it’s real, it’s a real rip off and that that industry has to implode eventually, but it’s gonna be passed off the losses are gonna be passed off to the to the population at large as they perceive listed and loans, and so on so forth.
Jason Hartman 50:51
Yeah, absolutely. Well, what else would you like people to know? In please do give out your website and such as well?
Michael Rectenwald 50:58
Yeah. Yeah, follow me at Michael rectum wall calm. Michael r e, c, t ENWLD. calm. I have all my articles up there three on the great reset recently. I have all my books link there. They’re also available for sale directly. If you don’t want to go through Amazon, you can go to my bookstore there Apogee books, and I send out signed copies directly. What I would say is the the other thing I’d like you to know is we need to regroup now, thanks to the smearing of Trump, which is ongoing right now we’re gonna have to regroup and find a new way and a new, a new rubric under which to organize and survive the onslaught that we’re up against. So I’m looking to perhaps create some sort of a league, like an anti Communist League of sorts that we can use to resist this onslaught. So look out for something along those lines in the future. So I’m not just a prognosticator. I also want to be part of the solution.
Jason Hartman 52:07
Yeah, good stuff. Well, I commend you for that. Michael, thank you so much for joining us free. Appreciate it.
Michael Rectenwald 52:13
My pleasure. Thanks for having me.
Jason Hartman 52:20
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