Used to make stuff and they had value terms of the factories and their employees and their trade deals etc but now we have a situation that chart shows 84 percent of the value intangibles or the Knowledge Based on knowledge so take a look at tesla for example they must has knowledge about how to go on joe rogan and promote his means he has knowledge about creating means he has knowledge about branding he has knowledge about interesting engineering ideas but the actual book value of the company itself is nowhere near the hundreds of billions of dollars we see in the stock market thats true across the board for every Single Company really in the s. And p. 500. 00 they make their cash flow on the ability to game the system and to exert arbitrage spliffs on the data thats being rolled on the various cash tasks of different banks and like you have on lost so eloquently demonstrated on the joe rogan show so this is interesting use the Word Knowledge because you think about knowledge any thin
Some kind of foundation of wisdom but this is knowledge about how to use Artificial Intelligence and knowledge about how to use propaganda knowledge about how to use subliminal advertising that its evil its evil or they might as well just replace intangible with the word evil well i dont know about that but certainly it is an interesting time and we do see it you and i grew up in the 1970 so we saw what it was like to have a more tangible economy and that could be part of why so many people are having a meltdown while we are having problems domestically in the United States in terms of the economic disadvantage you know and the inequality growing so you know its not like an intangible thing as you mentioned tesla is worth 400000000000. 00 based on one guy you know i got his team of engineers its not all that other stuff is this one guy so you know you dont have to manufacture something to be worth tens of billions are one. Of billions of dollars right well how to get the valuation you
400000000000. 00 based on one guy got his team of engineers its not all that other stuff is this one guy so you know you dont have to manufacture something to be worth tens of billions or hundreds of millions of dollars right well how to get the valuation you get by multiplication of stock price times current number of shares outstanding and if you have knowledge on how to buy back your own stock and pump up those stock prices and executive Stock Options then you have a hierarchy where you actually didnt create anything for the economy you didnt engage in any capital expense expenditures a cap ex to expand your company in any way then what will happen is what will happen the i. B. M. You know they want to the whole stock buyback routine then eventually it played out in the companies a shambles or General Electric General Electric is almost absolutely out of business by trying to push me a miss instead. Products well find out one day if theres any if the fact that theres no there there
Current number of shares outstanding and if you have knowledge on how to buy back your own stock and pump up those stock prices and executive Stock Options then you have a hierarchy where you actually didnt create anything for the economy you didnt engage in any capital expense expenditures a cap ex to expand your company in any way then whatll happen is will happen in the i. B. M. You know they went through the whole stock buyback routine then eventually it played out and the Car Companies a shambles or General Electric General Electric is almost absolutely out of business by trying to push me amos instead of products well find out one day if theres any if the fact that theres no there there matters that all its also coincides 1975 we had only been off the Gold Standard for a few years so the Global Economy and global trade used to have more there there because if you sent us your oil or you sent us your manufactured good you got gold back in return now you can. A fluffy paper that co
Satirists p. J. Orourke. He has appeared on booktv close to 20 times. First up in 2007 on our monthly call in program in depth p. J. Orourke discusses politics, writing and why he uses humor to discuss political and social issues. Is that a real picture of you . Guest oh yeah. Not a we. That was 71. Not quite positive. Host what were your politics in 1971 . Guest a martian left would be the easiest way to summon up. I was a leftwinger but didnt make enough sense to be a communist or anything like that. Host when did the transformation occur . Guest it was gradual. I just wrote about this. There is a book coming out from the Hoover Institution backing this called why i turned right, the story, it is a long story and i wont tell it. I will give the short version. I was a radical leftist very much in favor of a marxist socialist thing in america. I got a job paying 150 a week. I was a messenger in new york, 150 a week was a lot of money, living on the Lower East Side and i was very broke,