Episode 984 Scott Adams: Those Disagreeing Doctors, Pelosi’s Insults, Artistic Breakthroughs

Date: 2020-05-19 | Duration: 44:37

Topics

My new book LOSERTHINK, available now on Amazon https://tinyurl.com/rqmjc2a Content: Robots Read News (comic)…using CNN as a humor template Defending President Trump, Hydroxychloroquine + Zinc Kudos to Nancy Pelosi for using President Trump’s technique Coronavirus death model tweaked DOWN Fareed Zakaria’s strong piece, class decisions on coronavirus Mark Cuban suggests a federal job guarantee

If you would like to enjoy this same content plus bonus content from Scott Adams, including micro-lessons on lots of useful topics to build your talent stack, please see scottadams.locals.com for full access to that secret treasure.

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## Transcript

[0:09]

[Music] everybody you found it you found the best place to be in the morning yeah congratulations on you that's the way to start the day isn't it yeah this want to get it going even better you do okay all you have to do is find yourself a cop or a mugger glass of tanker cellist and a canteen trigger flask a vessel of any kind fill it with your favorite liquid I like coffee enjoyed me now for the unparalleled pleasure the dopamine the end of the day the thing that makes everything better including the damn pandemic it's called the simultaneous sipping it happens now go mm-hmm I can feel the zinc being delivered my ace two inhibitors don't even know what any of that means but it feels good sure it does so as people are

[1:13]

feels good sure it does so as people are pouring in let me tell you about a cool thing that happens in the life of artists or creators whatever you want to call me I usually don't call myself an artist coz that it's just that word I don't know there's something wrong with the word an artist that just rubs me wrong so I'd rather be a creator than an artist and there's a cool thing that happens in the life of creators and you're lucky if it would happen to you once in your life because it's such a cool feeling and I'll tell you one of the times that happened once was I was in my cubicle and 1988 at Pacific Bell and I was drawing a little comics on my whiteboard at my cubicle and I started developing this character Dilber now we didn't have a name he was just a sort of a technology worker in a big company like the people I was working with so he was a composite of people I worked with but it didn't have a name and so I had a

[2:15]

but it didn't have a name and so I had a name the nerve contest so I put a little label says name the nerd and I drew the picture of what would become Dilbert and people were coming to my cubicle all day long and they'd say huh he looks like he'd be an earring they write it down I think he'd be Poindexter right now I think he'd be Bruce and every time I'd see a name I look at it about god mmm no no that he's not a Bruce he's not he's not a Poindexter he's not a Irving and one day my boss at the time came in and he goes I got it and he walks over that I can remember it like it was today he picks up dry race Barker you know I'm sitting in my chair and and the the picture is just so amazingly burned into my memory and he writes on the board D I l be e R T and he puts the top back in

[3:17]

l be e R T and he puts the top back in the pen he goes that's the name of your character and I said what just happened to me because I actually felt my entire body go down a tunnel like I just going forward in time into the future and I saw the name on the character and felt it like I have experienced the future and and as he starts talking I felt myself going back the you know back down the tunnel the other direction BAM and I was back in 1988 and and I just looked at that name and they looked at it on the board and I thought what just happened what just happened I feel like I just saw the future from about that moment on I could not have been talked out of Dilbert

[4:17]

not have been talked out of Dilbert working because from that moment I just saw it and all I did was follow it I didn't even make it happen if like I mean obviously I didn't make it happen but it felt like I was just following the path that I'd just seen now if you could have that happen once in your life it's amazing there's these moments of creative or artistic clarity when things just happen now of course you could always explain it as false memory or I'm making up the story or something so there's no way that you would fully appreciate like what that what that did to my head because it really messed me up too to see reality just get turned inside out like that at least my experience of reality the base reality probably didn't change at all then there was another point there was a point when I launched the comic it wasn't really successful well it wasn't successful so is a another comic that

[5:20]

successful so is a another comic that was going to get launched do a few years and disappear but people kept emailing me and saying you know Dilbert should be in the office it needs to be an office comic and the moment I realized that I could turn it into an office comic all of the tumblers of the you know the gears came together and it was like click click click oh yeah if I just make this an office comic it's easier to write you know it's it's gonna relate to these people and it was the answer so that was like a second moment when I had this creative clarity it's like oh yeah and then Dilbert found his voice and that's a sort of an artist talk her is no good until it finds its voice so we can bump around to being almost right forever and you'll never catch on but there's that moment where it locks in you go ah there's the voice and the voices but let's say the case of the Dilbert comic

[6:20]

let's say the case of the Dilbert comic it's the the pointy-haired bosses perspective versus the cubicle worker so once you understand it as pointy-haired management versus you know employee that's the voice and then you could write it forever well eventually think that I think habit I've been playing with this comedy called robots read news whereas just a static picture three pictures of a robot always the same but he's reading the news and I've been doing it for a few years now like off and on I tried it out and try it and it was all right you know everyone's a wildly big good one but not really and the other day I was playing with it and I realized that if all I do is make the robots read news the way CNN does it'll be hilarious and that CNN is my pointy-haired boss and the moment that locked them you can't believe how

[7:21]

that locked them you can't believe how easy it is to write these comics now I just as an experiment with about three minutes before I went live I wanted to see if I could write one from scratch in three minutes I did it's pretty good and all I did was I looked at the CNN homepage I just scared the headlights heddle headlines for their most ridiculous story I was like oh there it is you know their most ridiculous interpretation and I just made a comic that basically says what they say I just put it into you know sort of funny comic words which is so easy it's ridiculous and so the the other thing we came together you know I'm keeping most of those comics will be for subscribers on locals and I didn't plan it that way but I just sort of I tested this at the same time I was testing locals and I thought well I guess that'll be its main home and the other thing is that I can I can make the characters say anything I want so I can make them curse I could make

[8:23]

so I can make them curse I could make them be offensive do you know how long I've waited for this moment how long I've waited as a creator to be able to write a comic in which the only thing that matters is that what they say is funny now of course I'll do a little bit of self-censorship because it you know you know my own sensibilities are not so extreme that it needs to be you know gross or something but the fact that I don't ever have to control my my first impulse of what would be hilarious is is a freeing experience I can't even explain to you to have it happen again well really for the first time it's like a completely free experience I'm so happy I can't even stand it on that on that one front alright so that's just a little tour of what let me give you some some other examples of that there there are moments when for example I was writing my book loser think or win

[9:25]

I was writing my book loser think or win Bingley when you realize exactly how to do it when I wrote win big Lea those of you read it now that it's a series of persuasion lessons about how to persuade but it didn't come together until I realized I could wrap it around the story of the election and once I understood it as something that would layer on top of a story and in my experience of it it was like ding ding ding it all came together so those are the moments that the creator can almost see the future probably not really but it feels like it now of course the big story today is Trump saying he was gonna take that he is taking hydroxychloroquine and zinc the important part now I did I did a more detailed video on this last night if you want to see my opinion of all the hydroxychloroquine I did I think a good job of laying out the thinking last night that's worth seeing if you didn't see it but the summary is this if you if you find yourself getting into online battles about whether the president is

[10:26]

battles about whether the president is being crazy and reckless and ruining the world by announcing these taking this unproven drug unproven I say unproven here are some things to say to defend yourself online number one this unproven drug has been taken by many people for various conditions for decades and decades can you produce for me the statistics showing the number of people who are dying from it I'd like to see the URL you know just something that shows that in fact there are some health risks you will first notice it's real hard to find that I'm not sure it exists okay that's the first thing because somebody did look for it and couldn't find it but if you can find it I'd like to see it so that's the first thing it's like do you have some data that would suggest it's dangerous I know you say it's dangerous but what would be for example a source of information because I know you like your science don't you

[11:29]

I know you like your science don't you you love your science you love your data you don't want to be listening to old orange man bad so instead of listening to Trump on this medical condition why don't I listen to you deer and deer troll on Twitter I would like to take your advice on this could you provide me the link to that source that describes the number of people statistics specifically of the people who have been damaged by this drug because now that we have decades of experience of it we probably have a pretty good idea how many thousands is killed right now if somebody could find that link it would be interesting but I don't think it exists I don't think anybody has that so that's the first thing so first you want to go after their sense of certainty and then here's the next thing you want the high ground kill shot yeah you do Eric fenman good to see you here's the high ground kill shot this is a risk management decision not just a

[12:30]

a risk management decision not just a medical decision and unless deer trolls you can show me your risk management calculation with an actual decision tree that says if you go this way and you take it there's this percentage it'll help this percentage it'll kill you you know I'm this age or these core morbidities so I have this this level of risk versus the other path and the other path is well you know maybe it'll help don't really know I'd have to put an assumption on that 10 percent chance make your make your assumption and then do the math now if somebody is telling you that the president is making a poor medical decision you should say well that's funny because it's not really a medical it's a cost-benefit decision in which the medical advice is part of it and the president is making a cost-benefit decision if you think he's wrong I think you could talk me into that so by the

[13:32]

you could talk me into that so by the way this is this is a persuasion technique instead of starting out by saying you're wrong I'm right which is hardens everybody's defenses try saying to somebody who thinks that the president's giving bad medical slash risk management advice say this I think you could I think you could talk me into that I think you could convince me can I see your math and I say math I don't have any math yeah you know when you did the when you did the cost-benefit calculation what what did you multiply what risk factors did you assume because if you did the math right and I agree with your assumptions I think we're both looking at the same news I'll take your assumptions I'll check your math and if it's right if it's right I'll change my mind because it's really just a math question right we don't have to disagree

[14:32]

right we don't have to disagree it's not about my priorities it's not about my preferences this is one of those rare cases where it's just math and if your bath and mind disagreed it would be because we had an assumption that was different the assumption might be that you know the the risk of taking it is X versus something else but we would at least know what the difference in assumption was so do you think anybody's ever done that math no no I don't even think the experts have because you'd probably see it on the news or in social media by now so I would challenge any of you to simply put that little spreadsheet together I don't know how many numbers on the spreadsheet it's not a lot right maybe a dozen different numbers and assumptions that's it that's your whole model right there and just show your assumptions give us the spreadsheet you know we'll tweak it to get our own then we'll be on the same page but here's the thing do not let anybody get

[15:36]

here's the thing do not let anybody get away with telling you that he made a bad risk management decision unless they're willing to show their work because if the key I show their work they're just blah blah blah and there's nothing coming out right so don't accept it without the math they got to show their work or they're in the same boat you are just guessing all right I'll uh I loved watching and I don't this is not a joke I know that you think that maybe this is hyperbole but when I read CNN in the morning which I do every day I do it for the jokes not just making jokes about it which is fun as well but because it literally makes me laugh to watch you know how hard they strain to to tell their version of it now I'm not saying that Fox News doesn't also do that I'm just saying that for whatever reason CNN is just funnier about it I don't know why I mean maybe it's

[16:36]

I don't know why I mean maybe it's because of you know my bias or something but here's one of the lines from one of the opinion pieces that said their presidents the president's health care is normally the best normally so if they just throw out a little a little question mark about whether the president has a good doctor well normally it's the best but since we as CNN are disagreeing with what the professionally trained top of his top of his field doctor is saying let's say let's use our CNN judgement to say that you'd normally normally you'd be the best but I know we'll just leave that as an open questions but normally it'd be good all right and of course C of n is is trying to mock Fox News for being inconsistent in their coverage and what they do is they say that the Fox News

[17:38]

they do is they say that the Fox News can't decide whether the hydroxyl chloroquine decision by Trump is reasonable one as opposed to being right you can only say whether it's reasonable it is a reasonable or sort of unscientific and dolt --is-- and dangerous and they blame Fox News for not being able to decide and being on both sides of the question and they used examples of Neil Cavuto saying things and having expert on and Laura Ingraham etc and here's the funny way they framed it they framed it as Fox News can't decide Fox News had doctors on it was the doctors who couldn't decide it wasn't Fox News that was inconsistent Fox News had actual trained doctors on one after another and those actual trained doctors did not have the same opinions that's now Fox News being inconsistent that is the medical community being inconsistent that's what

[18:39]

community being inconsistent that's what that is to report that is Fox News being inconsistent when when the news is coming directly from the mouths of the actual medical professionals while you're looking at it that is just as amazingly ballsy framing all right but in any event the president is completely right he's right that it's a reasonable for him to take the risk and even on CNN I think one of the experts a doctor said that in the specific situation of the president because he would be monitored so closely for his health they he doesn't have the same risk sa someone else in his same situation who might be on hydroxychloroquine maybe they're not monitored as closely so they would have a little extra risk so even CNN's expert was saying yeah president's kind of a special case it's not the same risk as everybody else and

[19:40]

not the same risk as everybody else and I don't think you know I guess it was that a case of CNN having inconsistent coverage because the expert and then the expert actually was asked to weigh in on Trump's doctor and the expert said yeah it's just a tough call I don't know what I would do and I can it's a tough call so even CNN's expert that they bring on basically to say that Trump's doctor is stupid or made a bad decision you wouldn't do it so you didn't CNN can't determine if it's a good idea or a bad idea but they can determine that there's a risk involved and that reasonable people are on both sides but they've turned it into an amazing story of Trump supporters being dumb so dumb that will drink bleach because of the fake news say and now they're doing the thing where they get multiple examples but they're all fade news so they could add the to the president's statements on the hydroxychloroquine by turning it into

[20:41]

hydroxychloroquine by turning it into fake news about the president thinks an unproven drug works which is not what's happening he just thinks that given the uncertainty he likes the odds that's it but they turned it into he's promoting unscientifically valid drugs and then they'll add that to the other fake news that he promoted which they actually did today of course they added it to the fake news that he promoted drinking disinfectants which of course didn't happen so now they've got like a list all right well he did this he did a you know if a alone was the only thing he did well that'd be one thing but he's also done B and I'm pretty sure there's a C out there there's another fake news I'll think of it in a minute but now that they've got their their fake news laundry list and what do I tell you about the laundry list you don't need a laundry list if if you have one good thing all right kudos to Nancy Pelosi for learning the

[21:41]

kudos to Nancy Pelosi for learning the Trump insult technique I think she got it right did you hear what Pelosi said about Trump now I like to preface this by saying I do not approve of fat shaming don't approve of fat shaming no matter who it is now some of that comes down to my thoughts about free will you know there's nobody nobody weighs 300 pounds because they decided to do it you know they woke up and said hey I think I'll be three other pounds so there's something about freewill there's something about the way you know different people are wired that what is easy for some is maybe impossible for others if depending on what you think about free will and so philosophically I just I don't I just don't buy into mocking people for their weight in any case cuz it's just too much part of the human experience right but watching

[22:46]

human experience right but watching Nancy Pelosi do it to Trump I can't say I hate that I can't say that I dislike that because it's sort of turned about is fair play right you know Trump has defined the playing field she's just playing on it and so she has his great line which you knew is gonna be national news and it was she said Pelosi said he's our president and I heard rather this is why she she pretends to show fake concern he's our president and I would rather he'd not be taking something that has not been approved by the scientists especially in his age group and his shall we say wait group morbidly obese they say now here's the best part and the part that made me love it is that the last two words comma they say because she did what Trump does which chub boy says well they're saying you know everybody's telling me a lot of people are doing everybody's saying so

[23:48]

people are doing everybody's saying so it's a trumpism to take the insult away from yourself and say well if they say they say you're morbidly obese you know I might argue with them but you know I'm just reporting what what they say they say now do you think there was a any chance that the phrase morbidly obese would not be a headline today so if if I'm being if I'm being fair right if I'm just talking about technique not whose side you agree with the Pelosi it's the the wind for the day that's the play of the day it's impossible to ignore and it's it's pretty effective well done so there's that study of some church choir group and I guess they determined that being in a crowded room and singing together is just about the worst thing you can do if one of you has

[24:48]

worst thing you can do if one of you has the coronavirus so if you think anybody you know has the coronavirus do not get in a small room with them and then sing loudly for many minutes at a time turns out that would be a bad thing but I'd like to point out a possible good thing this could be the beginning of the end of car singing are you a fan of singing in cars because I have this weird situation going on I'm not gonna say it I was gonna tell you a story that but I think I'll skip it let me just say this now I'm gonna tell you the story Christina if you're watching this you'll laugh at it so I've told you before that I don't listen to music just sort of casually as a hobby so I treat music as more of a medicinal thing so if I can find some music that works for my my

[25:48]

find some music that works for my my exercise routine that would be good etc so it's basically I'm using it specifically to inject the music to change my mood in a way I want to not just randomly listening to the radio so if you don't randomly listen to music and you're not around other people who are randomly putting on music that you would hear you never hear new music so I can go months at a time without knowing there's a new hit song because I just had never turned on anything that's presenting me random music except if I'm in the car so if you're in the car it's not unusual that whoever's you with will turn on the radio and then I'll get to hear new songs so really the only time I'd ever get to your new song is in the car and on the radio now if you're driving and there's somebody in the seat next to you who is operating the radio it could be either one of you but if I'm driving and I usually am I would rather

[26:48]

driving and I usually am I would rather not be the one who's also the DJ because it's you know why should I take my attention off of the road I'm driving so the DJ is always the passenger in my car yeah if I'm in charge I'm driving the passengers the DJ it's just safer that way
way now the DJ of course is going to be going through the the radio dial and picking good songs and skipping bad songs right so I'm never going to hear a new song that's a bad song because the DJ will turn the station as soon as the first few notes come on not that one not that one not that one so so now I'll never hear a bad song but at least I'll hear the good songs because the DJ will have selected the good song so the good song comes on and what do you do to a good song well if you're in a car and you like music and a good song comes on you sing along right now I can't say long because I've never heard the song

[27:49]

long because I've never heard the song so christina sings along to the song that's the first time I would have ever heard this song except that if you've ever been in a car where the song is on and there's also somebody's singing along you know you don't exactly hear the song you hear more of the version of the person singing it so I think I've gone years without actually hearing a new song isn't that quite true but it is true that I'll never hear one on my own I'll only hear one when Christina's you're playing either her playlist or or something that she's controlling in the car she doesn't play bad ones so if it's a bad song I'll never hear it and the good ones she sings along so I actually haven't heard a new song in the years she was story I Christina when you're watching this just kidding but keep saying because I like it all right here's a financial tip for you

[28:52]

all right here's a financial tip for you I tweeted this if you were once injured by taking hydroxychloroquine for a few weeks you know back back when you had to take it for your whatever your malaria or your lupus or your rheumatoid arthritis if you had bad side effects and it damaged you in some way don't give that story away for free because I know a news network that would pay a million dollars for a good personal story about somebody who was injured by the president's drug hydroxychloroquine so that's just a little tongue-in-cheek financial advice for you don't give that stuff away somebody would pay a million dollars for that story alright so a big coronavirus death model got tweaked slightly down so not much but I think it's one of the first well so one of the rare times that they've tweaked it down and nobody expected it to be tweaked down to now it's 143 thousand people to die by August 4th that's the model and I

[29:54]

die by August 4th that's the model and I thought to myself that's a really good sign isn't that because we've been reopening places so to be reopening things and to have even a minor tweak downward in the death rate now I don't know what that's gonna do this stock market but that's a pretty hopeful sign yes if two weeks from now the death rate is that is projected down or the same and we got this thing in two weeks we're gonna know a lot to think about it because you know you've got that the incubation period so I don't think we've yet seen the the effect of states reopening it's probably a little early for that but imagine if we go two weeks and the death rate is either modestly down predict projected or you know even the same or even a little bit up just a

[30:56]

the same or even a little bit up just a little bit in two weeks if we can flatten this thing we'll also go back going back to work we win that's how close we are think about that so you're thinking you're probably thinking in terms of God the end of this is when 2021 is at the end of the year your your brain is putting like a you you feel like you're at more at the beginning of it that then at the end but I would suggest to you that in two weeks this is the most optimistic thing I could say because we don't know this will happen but in two weeks if that death rate looks flat or a little bit down you know the way it's predicted anyway not the actual but the prediction if we get that in two weeks we win in two weeks if that death rate hasn't moved there's nothing you can do to keep the American public indoors there's nothing you're gonna do from keeping the

[31:57]

nothing you're gonna do from keeping the American public from reopening their businesses if if in two weeks that number looks flat it's over now it's not over for anybody who you know is in the future will suffer and die there will be tragedies there's it's just unavoidable but the the long horror of the shutdown at least intellectually psychologically and for all practical purposes we might know something in two weeks because if that number doesn't move what the hell would keep you from total social would you call it an acceptable protest let's say I'm just going back to work alright here's an interesting thing I've often talked about CNN's Fareed Zakaria because I like how his mind works and his take on things is often non-standard and in a good way so if you like if you

[32:58]

and in a good way so if you like if you like to think about things in a new way he's his program is excellent I always enjoy watching it and he had a long little monologue I think it was yesterday and here's just a sentence from it I think it's extraordinary marry he says imagine you're an American who works with his hands and you've lost your job because of the lockdown you turn on the TV and hear medical experts academics technocrats and journalists explained we must keep the economy closed all these people making that case have jobs it was a pretty strong piece and he makes the case that we think we're doing we think we're making medical health decisions but somewhat accidentally it became class decisions because the people making these stay safe pronouncements are getting paid and the people who are being told to stay safe or not and it's not even close to

[34:01]

safe or not and it's not even close to being a let's see a credible situation it's a sort of thing you could take for a little while to Co the experts do have some capital but it's not something you could take in the long term because the the stark difference between the people who have jobs and the ones who don't we're going to notice that we're gonna notice that Mark Cuban continues to be productive and one of the one of the top voices I think so far in terms of you know the coronavirus situation stepping up into a leadership mode much appreciated and he's got some ideas totally worth looking at one is that he doesn't think the free market is going to produce the 18 million jobs that we need fairly soon after in the next two years he says and he's talking about some kind of a federal job guarantee not unlike the depression in which he just basically have the government hire the

[35:04]

basically have the government hire the unemployed and put them to work building and constructing things they have to be built and constructed anyway and as he points out it's not the kind of idea you would have looked at if we've been locked down for a month yeah if we'd only been locked down for a month well yeah let the free market just recover and do its thing but we've reached a point where the free market is gonna be a little maybe a little sluggish putting everybody back to work and since we need the infrastructure anyway and because as far as I can tell we can print money I still have big question mark there but it looks like we can still print money so why not I would say that Mark Cuban's suggestion for a jobs a federal job guarantee I think that should be in the you know the top three things the were thinkin about don't you I don't know if there's anything wrong with that is there anything wrong with that idea it looks really it looks like it's it looks

[36:05]

looks really it looks like it's it looks like it's just a good idea and then Mark Cuban goes on and says the government and until things are sorted out we should get a thousand-dollar check every two weeks to every household with the caveat that it expires in ten days if you don't use it that's a good that's a good ad I don't know how you could give people money that expires though because can you take it out of their account how do you do that I don't know if there's a mechanism for doing that you could do it if if people had digital wallets or something but not everybody does and just so you know Mark Cuban has an advisory role so he's on the on Trump's opening our country Economic Council so he's in the right place at the right time and those are productive ideas you know I honestly what I see stuff like that I ask myself why aren't there more Mark Cuban's doing this sort of thing you feel it feels like he's unusually productive with ideas that are there all

[37:07]

productive with ideas that are there all within the I would say every one of his ideas is well within the you know let's consider this range somebody says a debit card would do it yeah if we could put that together if we can do it if you could get everybody a debit card it just doesn't seem like that's something you could do that quickly maybe
yeah and not everybody can handle a Bitcoin but if they could you'd have something I saw a great tweet by somebody whose name I forgot to copy and paste into my notes but he makes a really good point yeah that the experience with closing the schools and having this situation where you got online school and homeschooling and and it was just a mess sort of highlighted the flaws in the system and this one I assume he's a parent I should have I wish I had read down and who it was because it was a good idea but there's

[38:07]

because it was a good idea but there's some blue cheque person with a good idea and he said that we should be rethinking school in terms of permanently making it a hybrid and the hybrid is not just go to school and stay there all day and not just homeschool but rather almost certainly there's some kind of a hybrid in which you do a little bit in person a little bit at home or on your own pace or something and I thought that was a good a good take on it because I I would agree it's not just gonna go all home school or online because it just doesn't work well that yet but I also think it can't be go to school all day there's something wrong with that model too so I like this there's somewhere in between someplace in between that's good all right well well well so again we are thirty trillion in debt and answer open

[39:11]

thirty trillion in debt and answer open up and quit printing more Cuban is wrong all right for those of you who are talking about the debt be advised that there's no expert agreement on the debt I'm not even sure anybody understands it because the first thing you need to know is that when we're printing money that's not that's not like our normal debt and I'm not even sure anybody understands how any of this works I mean I've got a degree in economics and I can't tell you that printing money is necessarily going to be bad in this specific situation it looks like looks like it might be good I don't know but don't fall into the trap of thinking that before this happened you knew that debt was bad right right everybody knew debt was bad it's gonna crush us it's gonna kill us all it's a matter of time it's a time bomb waiting to go off but that's not this situation this situation is that we might be able

[40:13]

this situation is that we might be able to print trillions of dollars and have no lasting impact because inflation just went away well you know somebody's laughing with that emoji saying this time is different this time is always different so that's a clever little thing you sent this time it's different but the fact is every type is different if you're if you're trying to learn from history you're the dumbest person on the conversation because history doesn't repeat you can't because when history did what it did last time people noticed and if you notice what it did last time that tells you to modify this time so history doesn't really repeat you things get adjusted because the last way things went alright somebody says it's hugely inflationary down the road but not immediately we don't really know that we

[41:13]

immediately we don't really know that we don't really know that because remember prior to the coronavirus we would have said it would be impossible to have growth as good as it was and no inflation right I I believe something like a hundred percent of economists would have said that the Year 2019 wasn't possible it wasn't even mathematically possible that you would have low inflation and great growth those two things just aren't supposed to work together but they did so when you're saying to yourself well the obvious mathematical outcome of printing money and adding it to the system is that when things recover there'll be too much of it sloshing around still I don't think anybody knows that because we didn't even know that 2019 could have growth and no inflation or low inflation we didn't know that either apparently we don't know how the basic economy works and when I say we I mean there don't

[42:15]

and when I say we I mean there don't seem to be any experts who could break predict even something that basic that you could have growth without inflation that's that's as basic as you can get in economics and we couldn't even see that coming so when you're saying to yourself you know I am certain with my lack of economic education I am certain that we're running up debt or causing inflation well you can be certain about that but you're not a credible observer because absolutely nobody is certain about that if I had to guess I think it'll be fine it'd probably be fine all right Krugman said it what did Krugman say it has Krugman been been correct a lot this is where we get all the crazy comments about economics so most of us don't

[43:16]

about economics so most of us don't understand economics but we don't know it yeah the pension pension issues are gonna be huge all right that's all I got for now I'm gonna go do some other stuff and I will talk to you tonight if you missed my periscope from last night I did a section on how to increase your luck now not in the magic way but in terms of going where you can have more luck and manipulating your life so that luck and finding you better I highly recommend it I it back to myself just to see if I liked it and I'm usually pretty tough on my own my own content but even I liked it and I just watched it myself like a like a consumer and I thought ah that was laid down pretty well I was pretty happy with it so I think that's a it's one of these small little micro lessons five minutes I think and but it has the potential to change your life if it

[44:19]

potential to change your life if it changes how you look about assessing your odds if you do a better job of knowing where the odds are good your life is going to be a lot better so I tried to help you there and I hope helps and I will see you next time