00:00Inflation comes from government overspending, because the checks never bounce when it's
00:03written by the government.
00:04So if the government spends far more than it brings in, that increases the money supply,
00:11and if the money supply increases faster than the rate of goods and services, that's inflation.
00:17So really, we need to reduce our government spending, and we need to re-examine.
00:24I think we need a government efficiency commission to say, like, hey, where are we spending money
00:29that's sensible, where is it not sensible, and we need to live within our means.
00:34We're currently adding, I think, a trillion dollars to the deficit every, roughly every
00:40hundred days.
00:41That's right.
00:42And the interest payments on the national debt have now exceeded the defense budget.
00:47It's on the order of a trillion dollars.
00:49It's interest.
00:50And it keeps growing.
00:51I rebuilt our military, largely rebuilt our military, did a great job on it, which was
00:55so important.
00:56We had jets, we had fighters that were, and bombers that were 70 years old.
01:01We did a great job on that.
01:02Then we, by the way, then we gave $85 billion of it back to Afghanistan, if you can believe
01:07it.
01:08We gave them $85 billion.
01:09You know, they're one of the largest sellers of military equipment in the world.
01:13They're selling what we gave them.
01:15That was one of the most embarrassing days in the history of our country.
01:19But if you think about, let's go back to the economy.
01:24We have to bring energy prices down.
01:27Energy started it.
01:28The price of gasoline, now, your cars don't require too much gasoline, so, you know, you
01:33have a good, and you do make a great product, I have to say, I have to be honest with you.
01:37That doesn't mean everybody should have an electric car, but these are minor details.
01:41But your product is incredible.
01:44But the gasoline, Elon, is the cost of energy.
01:48Not only gasoline, it's the cost of heating your house and cooling your house.
01:52That has to come down.
01:55It's gone up 100 percent, 150 and 200 percent, and that has to come down.
02:01When that comes down, and we're going to drill, baby, drill.
02:03You know, they stopped drilling, and then they went back to drilling, because they went
02:08back to the Trump policy.
02:10But if they won, the day after they get into office, we're going to, this country will
02:15go out of business, because they're going to go to an energy policy that's not sustainable.
02:20Wind and different things, you're not going to have anything.
02:24And I know you're a big fan of the A.I., and I have to say that A.I., and this is shocking
02:30to me, but A.I. requires twice the energy that the country already produces for everything.
02:37So you're going to have to build, we're going to have to build a lot of energy if our country
02:41will be competitive with China, because that's our primary competitor for this on the A.I.
02:47You're going to need a lot of electricity.
02:49You're going to need tremendous electricity, like, almost double what we produce now for
02:55the whole country, if you can believe it.
02:57Sure.
02:58Well, just going back to this, like, this basic thing, which is that people try to make
03:04it sound complicated, but it's not, but inflation is caused by government overspending.
03:09Would you agree that we need to take a look at government spending and have perhaps a
03:15government efficiency commission that just tries to make the spending sensible and so
03:21the country lives within its means, just like a person does?
03:23The waste is incredible, and nobody negotiates prices.
03:29You used to have a lot of people making jets, and you end up with two companies, and they'll
03:33probably try and merge at some point.
03:35I mean, I wiped through it.
03:38Like Air Force, just a thing like Air Force One, one of the first documents they asked
03:42me to sign, a general, I said, sir, will you please sign this document?
03:45What is it?
03:46Air Force One.
03:47That's with Boeing, which is basically two planes, two 747s.
03:51And the price was $5.7 billion for two planes.
03:55Now they're highly sophisticated, even nicer than your plane, OK?
03:59But much more sophisticated.
04:00They're very, I won't say what's on it, but they got a lot of stuff on it anyway.
04:04But it's 5.7.
04:05That's a crazy number.
04:08But I said, I'm not going to pay 5.7.
04:10I'm not going to do it.
04:11I said, who made the deal?
04:12Obama and his people.
04:13I said, well, then I know the deal's no good.
04:15I'm not going to do it.
04:17And over a course of about four weeks, by my saying I'm not going to do it, I got the
04:22price reduced by $1.6 billion for the exact same plane, other than we had a nicer paint
04:28job, if you want to know the truth, but for the exact same plane.
04:32I got, I saved, and I said to Boeing, man, you guys must make a lot of money if you can
04:36reduce the price by that.
04:38But now what I do here is that they're going back to the Biden administration and wanting
04:44big cost overruns, you know, because they see these dopey suckers in there and they'll
04:49end up getting some of the money back.
04:51But I saved it by $1.6 billion for the exact same plane.
04:55And you can now take that and multiply that out times thousands of other items.
05:00Multiply it by a billion.
05:02Yeah, the numbers are astronomical.
05:03I agree with you.
05:05Don't miss out.
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