Episode 257 – Nancy Pelosi Stands On Her Bottom Line

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[Music]
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[Applause]
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[Music]
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and now matt wright and
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spike cohen
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good morning good afternoon or good
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evening and welcome to the vanguard
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for spike david
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copper hoarder cohen i am matt
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and together we are traversing the
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muddied waters of
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freedom
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i thought it was copper pincher
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but
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maybe it was i don’t remember that was
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yesterday um
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that was an hour ago
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um that was yesterday’s episode
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um
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what kids don’t love well
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war with china
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i was gonna say before we get to that i
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was gonna ask a question for all of
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those who are watching
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put this in the notes
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um
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before we get to the show we wanted to
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war with china
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or with china
3:39
so as we are as everybody here is
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probably very
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certain i am i’m very certain of this at
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this point
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um
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nancy pelosi is taking a tour of asia on
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official business
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now initially on uh sunday when these
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notes were being written uh they
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pelosi’s office had announced that a
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congressional delegation headed by uh
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pelosi had departed on sunday for
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singapore singapore malaysia south korea
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and japan
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obviously they left out
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taiwan
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from the official uh statement
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yeah
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everybody sort of knew
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that this is
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what she was going to do
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this is coming as absolutely no surprise
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to anybody
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um
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china
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who sees itself as the leader of
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uh taiwan
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says that by her entering was saying i
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don’t know what they’re saying anymore
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it’s so hard to keep up
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but
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they were saying that uh by her entering
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taiwan
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this would be viewed at as an invasion
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it went so far
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that
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she shin
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the chinese mouthpiece
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tweeted and later uh later deleted if
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u.s fighter jets escort pelosi’s plane
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into taiwan it is an invasion
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the pla has the right to forcibly dispel
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pelosi’s plane and the u.s fighter jets
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including firing warning shots and
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making tactical movements of obstruction
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if ineffective
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then shoot them down
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when this news was starting to break the
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gop uh came out with an official
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statement on that and we actually
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happened to have
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the official gop statement
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when this news broke
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i find your proposal
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acceptable
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[Music]
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that was the official gop statement
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official gop and it cost him a pretty
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penny to get the licensing for that
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um but they uh
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they uh we should get away with it
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though i can’t i can’t believe that
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justin thoreau did that for them
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justin
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it’s not throw what is his name justin
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he’s not just a
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oddly enough no uh yeah
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i i will say that the fact that
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that tweet was deleted
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you know we were talking about this that
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the chinese government’s pretty tight on
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the spread of information
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the fact that got deleted was kind of i
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think their way of letting everyone know
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like no it’s not so i’m not going to do
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that
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so i was also reading um
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i was also reading that twitter took
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down
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uh who shushen’s
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twitter account until he deleted that
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tweet i don’t know if that oh i don’t
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know if that’s true or not
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so i don’t know if it was china said
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yeah delete that or if it’s because
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ushi or the other authoritarian regime
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twitter
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which authoritarian regime told
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who’s your shin
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[Music]
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uh if the uh
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to take it down but we know that some
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dictator
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some kind told him to take that down
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now we just have to know which one it
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was
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i’m honestly going to keep that clip
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forever and use it often
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i find your terms acceptable yeah yes
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uh so
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obviously
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with her landing in taiwan to on tuesday
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today earlier today from when we were
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recording this
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tensions in the uh south china seas is
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uber high it’s
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it’s thick
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as they would say
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thick tensions
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thick
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and
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uh there are multiple
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multiple uh there are multiple uh us
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ships in the south china seas right now
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such as the uss reagan
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along with three others
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um
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all of them are there in order to ensure
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that china does not
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attempt to
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kill speaker pelosi yep and now the
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chinese government uh is saying
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they will be
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uh
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conducting live fire drills in four
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separate areas around the taiwan strait
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uh the u.n has warned that one mil
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miscalculation by either side could lead
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to world war three
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i mean it it really just seems like this
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is nancy pelosi like it’s really
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it really is well and and uh some other
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congressional democrats but like this is
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a congressional visit to an island this
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happens a lot this is an 82 year old
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woman who is saying that she’s going
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over there on official business we’ll go
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into more about what she’s doing over
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there in a little bit but um
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i am certain
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that
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the people in beijing know
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that what she’s doing over there isn’t
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or making a statement over the
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sovereignty of taiwan of taiwan
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what they’re do
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they know what she’s over there doing
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in the
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self-satisfactory reasons that she is
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there
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yep
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now
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beijing is stating
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that they see this move
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as
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a
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they see this move as a move that would
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seriously violate uh china’s sovereignty
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because as we all know it regards uh
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taiwan as part of its territory and
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as we have stated on this show
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they will be making a move probably in
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the next few years to reclaim the island
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of taiwan as their own right
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uh you’ve seen uh multiple military
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drills happening over the last
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year or so
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with them
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sort of making moves and saber rattling
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to a point
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uh
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buying a little bit of the brinksmanship
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on whether or not they will actually
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make a move on taiwan and testing
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probably the limits of the
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uh
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of the allies of taiwan
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yeah
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um
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the people’s liberation army has called
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on the us
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to commit to its pledge to not support
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independence in taiwan which
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obviously they
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didn’t listen to because nancy pelosi
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landed there
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earlier on tuesday seong zhang ping a
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former pla instructor said the u.s
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carrier strike group was likely to
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provide an escort for pelosi
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uh when with the trip
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so well
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yeah okay so while china is planning
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four days of military drills and they
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are
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promising military action for this move
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a lot of people are saying that it’s you
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know saber rattling and yes that’s
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probably true uh because
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what we know
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and i’m certain that beijing has the
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intelligence to also know
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is that while in taiwan pelosi plans on
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visiting several semiconductor factories
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now
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taiwan makes
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the
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vast majority of semiconductors in the
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world and also arguably the best
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semiconductors world
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and one of the things that they have
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stated in the past
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is uh if china were to try to come in
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and take over they would destroy those
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factories
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while she is over there she’s going to
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be looking at the semiconductor
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factories and this
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obviously has in no way
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anything to do with recently passed
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legislation in the us
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or her stock portfolio in which at all
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certain investments were just made by
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her husband
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no no way
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so
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no
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this leads us to the chips it’s
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completely unrelated news completely
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the uh government just passed the chips
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act it’s a 280 billion dollar bill
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funding scientific research and
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giving computer chip manufacturers
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tens of billions of dollars of your
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money to build more production in the us
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which has never
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failed before
13:04
to be anything but a massive giveaway to
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corporations
13:08
totally unrelated to this
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can’t imagine how that would go wrong
13:13
so i don’t even know why it’s in the
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notes i mean yeah i don’t know i don’t
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know why i figured i would include it
13:18
um the united states
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answer to manufacturing affordable
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semiconductors that are easily
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accessible should there be another
13:25
pandemic
13:27
that slows down the supply chain which
13:29
has created
13:31
a lot of the surge and pricing for a lot
13:33
of your computer needs out there that
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we’ve all felt since the pandemic
13:37
um
13:38
or
13:39
if i don’t know let’s say
13:42
let’s say there’s a country out there
13:44
that you have been
13:46
just absolutely destroying
13:49
uh verbally for decades and talking
13:52
about how terrible they are
13:54
and
13:55
they have a chance to overtake uh the
13:58
main source of
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where
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these semiconductors are made prices on
14:03
them are going to go up
14:08
again i don’t see how that’s related
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yeah i don’t see how i mean yeah i don’t
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know i was tired
14:14
so
14:17
so we’re stuck in a situation where the
14:20
prices of semiconductors could go up
14:22
nationwide or
14:23
if taiwan happens to keep the
14:25
semiconductor plants and china doesn’t
14:27
invade them uh then they will continue
14:30
saying
14:31
well made and relatively cheap as long
14:33
as as the supply chains go but the us
14:36
wants their once their backup
14:39
so in july the commerce secretary geno
14:42
raimondo and defense secretary lloyd
14:44
austin wrote a letter to the democratic
14:47
and republican leaders in congress
14:48
saying that the measure was critical for
14:50
our national security
14:56
the u.s making semi-conductors at home
14:59
critical
15:02
for our national security now
15:04
oddly
15:06
an unlikely ally to raimondo and austin
15:09
mike pompeo
15:11
the former secretary of state under
15:13
donald trump uh made
15:16
an unlikely contribution to calls for
15:18
its passage stating
15:20
congress must pass the chips act both
15:22
for our national and economic security
15:25
we have to become less dependent on
15:27
china for critical technologies and this
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is how
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we do it
15:36
i mean
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i they should have just said this is
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crucial to our democracy like it’s
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wow
15:45
now
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[Music]
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noted off right twice a day broken clock
15:52
bernie sanders retorted on the floor of
15:55
the senate the question we should be
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asking is this should american taxpayers
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provide the microchip industry with a
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blank check of over 76 billion dollars
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at a time when semi-conductor companies
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are making tens of billions of dollars
16:09
in profits and paying their executives
16:11
exorbitant compensation packages i think
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the answer to that question should be a
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resounding no
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which he’s
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right which is why
16:23
now i mean his focus is that they’re
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making all this money but why are
16:27
american taxpayers giving 76 billion
16:30
dollars to a very very very very very
16:34
very very very very profitable industry
16:38
very
16:40
to a very profitable industry that will
16:42
be
16:43
so i believe that
16:45
what they’re going to do is
16:47
rebrand they’re going to rebrand um
16:50
yorktown pennsylvania as the silicon
16:53
valley of the east and have them opening
16:56
up silicon or semiconductor factories in
16:59
yorktown pennsylvania
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so that people from silicon valley can
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move out there
17:06
to make these things i believe this is
17:08
in the bill
17:10
i 100 believe this is in the bill
17:12
because i know
17:14
someone living on silicon valley
17:16
every day they wake up and say my
17:18
god
17:20
so tight there’s any way that i could
17:22
possibly move
17:23
to yorktown pennsylvania yorktown
17:26
pennsylvania
17:29
so another okay now i gotta know why why
17:32
specifically yorktown pennsylvania i i
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don’t know
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uh okay while you’re reading that i’m
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gonna go look up the congress
17:40
person who wrote this yeah because this
17:42
is a hundred like this bill was 100
17:44
written to revitalize the economy of
17:47
yorktown pennsylvania
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and it’s a
17:51
250 billion dollar bill
17:53
um
17:55
now
17:57
when you think of pairings with bernie
17:58
sanders
18:02
you’re
18:03
you’re not really thinking the heritage
18:06
foundation
18:08
and
18:10
kevin roberts the president of the
18:12
heritage foundation agreed with bernie
18:14
sanders to an extent
18:16
and he said the answer to the chinese
18:18
communist party’s malevolent ambitions
18:20
is not spending billions of dollars to
18:22
help fortune 500 companies which he’s
18:24
correct
18:25
100 correct
18:27
uh with no guarantee those dollars won’t
18:29
end up supporting those companies
18:31
business operations in
18:33
china
18:35
also correct additionally the x 200 yeah
18:39
additionally the axe 250 billion price
18:42
tag will contribute to record inflation
18:45
and increase the already historic cost
18:47
of living for workers and middle class
18:49
americans
18:52
also correct
18:54
yeah
18:56
the
18:58
coke funded americans for prosperity
19:01
also agree with bernie sanders and see
19:03
the bill as corporate welfare
19:08
the group’s vice president of government
19:11
affairs akash
19:12
chaguli
19:13
said the united states didn’t become the
19:15
strongest and most prosperous society in
19:18
the history of mankind by emulating the
19:21
chinese government’s central planning
19:23
and we shouldn’t start now if we want to
19:25
see more american investment the us
19:27
government needs to stay out of the way
19:29
which is a hundred percent right any
19:31
time that the united states government
19:33
has started putting focus into one
19:36
certain area one certain group the cost
19:38
of it went up
19:40
the quality of it went down
19:45
and if you look at companies like
19:46
solyndra they just sort of went away
19:49
with all of the government money
19:54
exactly
19:58
sorry i’m doing a deep dive as we’re
20:00
talking about this
20:02
there
20:04
so lloyd smucker
20:06
is the is the representative
20:08
representing uh
20:11
uh the um the yorktown pa is in the
20:14
uh pennsylvania’s 11th district
20:17
and that’s
20:18
smucker is the rep there
20:24
and i’m trying to find a connection
20:26
other than he voted for it
20:28
well of course
20:31
but why yorktown why specifically
20:34
yorktown pa yeah i don’t know why it was
20:37
in yorktown
20:38
um
20:42
i’m not sure if it was a
20:43
if it was a tax haven for
20:47
certain organizations
20:51
that’s very weird
20:54
well at any rate here’s the thing
20:57
uh
20:59
here’s the the thing here
21:02
i
21:03
the
21:04
the root cause of this
21:06
is that
21:09
we are entirely too reliant
21:12
on
21:12
mostly china but china and a small
21:14
handful of dictatorships
21:17
um
21:18
for the provision of many things now it
21:21
you know
21:22
taiwan is at least ostensibly a
21:24
democracy
21:25
but we’re reliant on
21:27
countries that either are dictatorships
21:30
or are in a pretty uh
21:33
uh
21:35
frightening uh foreign policy situation
21:38
for all sorts of stuff we’re seeing that
21:39
right now with you know the reason part
21:41
of the reason that price for fuel went
21:43
out of control is because we were
21:44
relying on russia and saudi arabia and
21:48
venezuela and all these you know
21:51
foreign regimes
21:52
for uh for oil and so now we have it
21:56
with semiconductors and because of the
21:58
the um ripple effect in the supply chain
22:02
that was caused by the lockdowns and the
22:04
stimulus spending
22:06
we’re now just seeing you know one day
22:08
it’s tampons then the next day it’s uh
22:10
it’s you know formula and then it’s
22:12
semiconductors uh and and then it’s
22:14
cement and it’s like and fuel and like
22:16
all these different things it’s really
22:18
it’s everything it’s few it’s food it’s
22:20
everything
22:21
the answer is always the same answer
22:23
it’s always been
22:24
we need to deregulate here
22:28
we need to make america
22:30
capital friendly again yes we need to
22:33
make
22:34
the cost of doing business here
22:36
affordable again by getting rid of all
22:38
of this burdensome over regulation so we
22:41
aren’t so reliant on these countries you
22:43
know nancy pelosi it looks like
22:46
i mean there’s been congressional visits
22:47
to to uh to taiwan for
22:53
as long as taiwan has existed as its own
22:55
this is my autonomy she is the first
22:57
government official in 25 years
23:00
in 25 years okay
23:02
but i know i mean it’s not it’s
23:04
certainly not the first time it’s
23:05
happened but no
23:06
no it’s but it had it has been a while
23:10
okay it’s been a while so it’s been
23:11
since then since the 90s but and you
23:14
think the last time they came china’s
23:16
position was nowhere near what it is
23:18
right now and that’s part of the problem
23:20
here is that you have the chinese
23:22
government now has the kind of uh uh
23:25
resources where they can make these this
23:27
kind of saber rattling and you know god
23:29
forbid uh i mean we’re not out of the
23:31
woods yet god forbid she’s over there
23:33
and there’s a live fire that you know
23:34
accidentally hits something it hits a
23:36
you know us uh or some other uh military
23:40
asset or or hits a civilian ship or
23:42
something and causes some kind of
23:44
conflagration over there i mean nancy
23:46
pelosi could end up being our franz
23:47
ferdinand which would kind of be funny
23:50
but it wouldn’t it also wouldn’t like it
23:52
would also be terrible and it you know
23:54
it would lead to world war three and
23:56
absolutely that’s
23:58
and you’re already starting so
24:00
because of her trip over there which
24:03
i don’t want anybody again nobody out
24:05
there should think that she’s doing this
24:07
to show solidarity with taiwan because
24:09
that is not the democrat party or the
24:12
us’s policy no they have a one china
24:16
policy
24:17
yeah
24:18
they have a one china policy so she is
24:21
going over there purely
24:24
for selfish reasons and it’s to look at
24:26
their factories to see
24:28
if investing in the american factories
24:31
is the right call she’s looking for
24:32
insider that is what is happening
24:35
but in doing so
24:37
putin is calling out the u.s saying that
24:40
they are acting
24:44
improperly on the world stage iran who
24:48
recently said they can make a nuclear
24:50
weapon is saying that they should not be
24:52
over there and they should let china
24:53
deal with it and said that they would
24:55
have china’s back if china decided to do
24:57
anything
24:58
yeah her going over there for
25:02
what is this abstent uh
25:05
what is obviously
25:07
just
25:08
purely financial reasons
25:11
could
25:12
be
25:14
the worst financial mistakes you ever
25:16
made um but also
25:19
it could be the thing that
25:21
joins the
25:23
what the us would call the access of the
25:25
access of evil
25:26
in the upcoming world war
25:29
of china russia
25:31
yeah
25:34
so maybe instead of
25:36
cronyism to offset cronyism to offset
25:39
cronyism to try to trigger or stop the
25:42
triggering of a world war which could
25:44
end up resulting in the triggering of a
25:46
world war maybe just deregulate things
25:48
here and allow for more competition and
25:51
stop creating a business environment
25:53
that’s just for a small handful of crony
25:55
businesses
25:56
maybe i don’t know
25:59
and
26:00
i understand why chips are so
26:03
le so much less expensive when they’re
26:05
made in taiwan
26:08
we all know the reason we’ve gone over
26:09
it on the show
26:12
multiple times
26:15
sweatshops are
26:17
good for some areas
26:20
um
26:21
to move those facilities over to the u.s
26:23
and start building those things here is
26:25
going to create
26:27
more expensive products
26:31
just based on what you would have to pay
26:33
people things are going to become more
26:35
expensive
26:36
on
26:37
what it would cost to
26:39
pay people to deliver the stuff don’t
26:40
know what it would cost to pay whatever
26:43
all the way down the line it’s going to
26:44
create
26:46
higher cost for these items
26:49
going over and messing with the way that
26:52
they are doing things over there
26:55
going with over there messing with the
26:56
way things are uh happening over there
27:00
to try to ensure that this program is a
27:03
success over here we’ll just create more
27:06
expensive semiconductors which means
27:08
more expensive phones more expensive
27:10
computer
27:11
central processing units
27:14
tvs
27:15
basically anything that we use anymore
27:18
cars
27:20
because making things here in the united
27:22
states is more expensive
27:24
recoup those lot
27:26
to recoup those costs you have to make
27:28
them up in the price
27:30
right
27:31
and that’s the uh that’s the uh the
27:34
terminal problem that we have but
27:37
the good news is
27:39
we have an episode for the subscribe
27:41
subscribers this weekend
27:43
so good news this ends on a on a good
27:45
note uh so yes uh so join us this
27:49
saturday
27:50
where we will be taking uh our
27:53
subscribers gave suggested uh things
27:56
that they wanted to ask us about and so
27:58
we’re going to be talking about that in
28:00
the saturday episode uh if you want to
28:02
become a subscriber and get access to
28:04
this exclusive
28:05
juicy
28:07
subscriber i don’t know i said juicy
28:08
subscriber only content go to anchor dot
28:11
fm slash muddy water subscribe
28:14
and enter the code word juicy no don’t
28:16
do that there is no codeword uh but you
28:18
can uh for ten dollars a month you get
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28:22
you also
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get access to uh an ad-free listening
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uh and you get all sorts of other fun
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28:44
and uh we will be joining you uh if you
28:47
are a subscriber we will be uh joining
28:50
you on saturday uh and if you are not a
28:52
subscriber then that’s fine we will see
28:55
you right back here same money place
28:57
same money time uh tuesday for the next
29:00
episode of the muddy waters of freedom
29:02
so whether you’re a subscriber or not we
29:03
will see you soon and where we’re going
29:06
we don’t need roads
29:16
[Music]
29:30
you