Infrastructure that continues no matter what the administration is in the case here in the United States i talk about the deep state with Government Employees, i talk about how it has been different in the past and heres the thing i also talk about basically a collusion of non Government Entities that are in support of the government bureaucracy the deep estate. Lets start with the government bureaucracy. Is an important had a nonpartisan civil service. If youre taking a civics class in college. Thats it you think would be. Theres 1. 8 Million People that are in the federal government. Their State Government and local government. The 1. 8 million who are in the federal government you would hope that they were really efficient the managers are efficient. They understand what to do and get things done. Whenever you take a close look at Government People are shocked most people can relate to the dmv. There is your bureaucracy as youre waiting in line and finding that just as youre waiting
One passage in here we see the commitment to excellence is uncompromised and personal sensitivity is irrelevant if when theres a mistake. When i read that i thought the last 60 years just kumble. Because in most workplaces and most schools personal sensitivity is not making people feel bad, is a high priority do think that comes as he extends of excellence . It is a good point, the fact is on the battlefield there is no trophy for second place much less ninth place. You have got to win. So youre brought up with a very grim set of skills by people who have been there, done it and they are not really interested in reasons white cannot happen. You have simply got to carry through but pretty soon what carries you along, you know everybody beside you is also going to be there and when trouble looms they will come even at the risk of their life. It is humbling but interesting. You are now part of something bigger than yourself and i think that is really what expands you. It does not shrink y
[inaudible conversations] good afternoon and welcome to the Cato Institute. I direct the center for global liberty and prosperity here at cato the title and style of the book were featuring today, socialism sucks, is admittedly more irrev vanity than the typical more staid Public Policy books but i can assure you that the authors that we are featuring today are serious, accomplishments economyis whose decade of scholarly work inform the publication. Thesen title two economists drink the way through the unfree world gives a flavor nor unton generalizational approach. That subtitlele didnt surprise me. I tend to run into ben powell and bob lawson at economic or academic conferences around the country, and around the world, and inevitably they have drinks in their hands. Probably because we chat at receptions, hotel bars and the like. But the conversation is always interesting, informative and fun. And thats also true of this new book. This is a light book about a heavy topic so its fortu
Broadcast schedule. Because it is being broadcast will be broadcast, its important that we silence our cell phones. If you wouldnt mind making sure that were really blur in the recording if you dont do that. Silence the cells. Questions and answers, basically the format will be will start off with a brief hesitation, have a brief questionandanswer between our guests then you all be invited to participate. Well pass around this microphone. If you want to ask a question, if you just wait until this microphone is in front of your face so it gets recorded and we dont have a big blank spot. Lastly, if you need to use the restroom during the filming, there is a restroom at here. If you could try not to walk in front of the camera that is ideal. You can squeeze around back that way if you need to. Thats about it. Cool. All right. Welcome everybody. Thank you all so much for coming up to me. Were extremely excited to have p. E. Moskowitz discussing his new book the case against free speech and
I am Katie Greifeld in new york welcome to Bloomberg Markets on this friday. You take a look at where the s p 500 stands in trading. Its a red day so far. You can see the s p 500 off about. 6 , slightly worse if you take a look at big tech. The nasdaq 100 off by about. 9 . All the while you can see the volatility rising a little bit if you take a look at the vix. Of course, still at pretty depressed levels, under 15 but getting closer and closer. Im thrilled to say we have a great guest on these markets. We are joined by rob arnott, Research Affiliates founder. Good to see you. Rob good to see you. Katie lets talk about nvidia because you warned in september you saw a big market delusion in nvidia. It was a great company, he wrote, but christ beyond profession perfection but christ beyond if it was perfection that it was priced for then, what now . Rob beyond perfection. Rather than singling out a single stock, its interesting to note that back in 2018, we developed a definition for th