Take this opportunity to welcome everybody back to the independent investor channel live stream friday evening It's been a couple weeks removed. Anyway, i've been on a well deserved vacation man It was really good for me to re rack reprioritize Spend some quality time with the family, but this is the fastest 60 minutes on youtube absolutely at least it is for me I love this project. I really do. I love The project in so far is the impact we could potentially make on on people's lives and identifying opportunity out there Just think about this 10 years ago. I don't think this wouldn't would have been as possible to Get a unique perspective and and testimonial from somebody like myself who's made investing a priority and the topic tonight does indeed strike at That answering some of those rhetorical questions I had and preparing this for people in in really understanding Why why more people don't invest? Why more people don't deploy a little bit of discipline? Why people are entering into retirement later on in life? And they don't have at least some level of supplement to their income and I'm a realistic applicator.  What isn't a waste of time is really earmarking the reality of of of that very thing people not taking the time to Learn up on this making investing a priority in their life This is an infinite topic So there's an absolute reason why somebody like myself super important to come on and foot stomp this message I wish there were there were more There's a lot of community members in here. I just got a message today thanking me Giving me a status update. It was a six figure portfolio from michael babcock Very devote subscribers so shot out to michael right at the top of the live stream And I said these were those little milestones that you could Come in and say hey ryan, you know, this is where I'm at. This is real progress and It it's really incredible to know that those results in the market are scalable And I think unfortunately with the level of distraction that's available now I I honestly think that retail investors have not only an incredible opportunity But they do face a number of challenges Unfortunately because media right now with social media right in your face all the time Provides a lot of distraction for people man And I think it requires a lot of people to deploy some real active discipline and I um I wish I wish more people had it. I think I would be a lot more encouraged if in my day to day Operations people that I work with colleagues etc friends family Took a little bit more of a concerted effort and I don't know if the flip side of people are like, you know, you're too into this You know, you pay too much attention. You talk too much about the stock market. You freaking dork let it go Um, I beg to differ. I've always been a collector in my life I've always collected things and it's it's just made sense to me Just for the sheer hobby of it and it's as good a thing as any to spend your time and and devote to a certain craft And I think that's part of the essence of of of what makes me tick is that this investing Angle that I take or really does uh take A nice chunk of my time.  I sat and watched the last 45 minutes or so in the market today Thought really we we had an outsider's chance Of making a very very nice threshold in my investing career and I I will cry when I make it Um, if you guys understood a little bit about where I come from how hard I've worked You know, how how Much adversity I've gone through to get where it is that I I I'm out right now And that's why I think maybe some of that adversity is part of the recipe for success in that If you're challenged in life, it makes you react and it makes you stand up and fight sometimes and and maybe that lack of fight or complacency that I see sometimes is a recipe I think for regret sometimes for people when they Look to reflect back on their life and say have I done everything that I possibly possibly can And I think that's what investing can be for a lot of people I know that that's what it is for me and and the essence of how do we get to that end? How do we get people to really understand that stock market investing? Isn't about picking that perfect stock. It's not about following the masses into bitcoin In the 50 thousands just because everybody on social media is pushing it following an elan musk into A currency that you know in your mind doesn't make sense to you and trust me guys There's people out there that have made it make sense to them And they've justified it in their head that it's something good But one of my golden rules that I'm going to talk about tonight in really Unbooking your thought process a little bit and I don't I don't mean that to be rude But what I what I mean that to be is just an opportunity for you to sit back and think What have been the influences in my life that have got me to this point right now? Okay, how have I done? Um, what are the successes you bet? Right, we're all winners All right, life is good Got all kinds of time. Okay all lots of people say that there's we don't have any time. It's going so fast I'm so stressed. I'm this I'm that I got all this going on. Ah, blah, blah It's all good. It's all good, baby Just need to take some perspective on this deal and you need to take it in small chunks Okay, I've been doing this a long long time. I Been doing this going on 30 years. I was introduced to the stock market when I was about 15 years old So I eat breathe and sleep this stuff from a certain perspective now Does that mean I'm a day trader? No, it doesn't the my application right now has been somewhat passive And I'll go through stretches in my investing and I'll go for months Where I won't make a whole lot of moves I do run a private facebook or whatsapp group and I share My moves when I make them in that whatsapp group. It's part of what you can find for Direct connection to myself that of which I've digressed a lot from the direct connection outside of the live stream that I provide On the independent investor group.com. That's powered through Shopify I just did within the month my very first M1 experience and that was just absolutely fantastic life changing for the individual But on the independent investor channel, we've got some things coming up. It'll be my second interview opportunity We're looking to get a date and a time Probably the weekend First weekend in june here coming up for my second interview of leore gants Which was one of my favorite interviews just one of those nuggets and gems on the channel that Man, it's just a pleasure to know the guys really just a pulse and a brilliant investing mind So looking forward to that coming in the future the half price on the self direct of the independent investor group.com If you go to the facebook or the home page of youtube, you can link over to the Shopify site I've got that linked over so it's easy for you to check out The the private group that we have going on. It's fantastic. I really enjoy the group But I give those real-time Moves that I made I'll give you just a little bit of insight to that add a little bit Into the cues this week. I did open up a new speculative position In in wish it's a rather small position, but I like the action on it here Obviously my position and highly on with the last Quarter that came out very very Bullish on that going into the coming 2022 2023. I've seen some comments here that I'll get to in the thread But I just want to welcome everybody man. It's good to be back. It's amazing What a little bit of moonshine will do for you some tennessee moonshine and some good micro brew and some good time with the family Some fantastic times there in severe veil I highly recommend if you are in the vicinity of the Gatlinburg area pigeon forage Very cool place to visit. We just had an absolute blast But I've got a jam-packed hour guys. Let's jump into it here And we will kick off the live stream. So it's great to see all the familiar faces And it's glad to be back in the hot chair Hi Kenny says what's up from Portland, Oregon, man? Now you're talking that's uh, Oregon's home for me. I haven't been back there in 20 years Um, but it's great to see you Kenny shot out man. It's great to see that you're representing from my home state Um, I do miss it. I like Virginia a lot, but I miss Oregon too And I've got Becky in the house. Great to see you. Absolutely. Look at that smile. Just makes me smile The vacation helped too Becky trust me I was a little bit overdue and I think for anybody out there that's working a professional life Um, youtube is not really that big of a deal for me. I enjoy making content when I do Um, but my professional life that that's a little bit of a grind and sometimes it's incumbent upon me to Identify that six eight months where I need a break and coming off of last year It was awful tough. So I do have the portfolio reviews We've never made our half a million dollar threshold today I was I was curious to see if we were making we had an outsider shot of making it But when I roll out the portfolio reviews for you guys, I I can show you kind of how things shook out I only mentioned that. Um, really to um Provide some validation again. I'm very very cautious About making sure that the people who join the message and this will go on legacy on youtube forever Even after i'm gone. So People will come on and they'll sit and they'll study My fundamentals for approaching wealth building and and how unique it is I don't think it's so unique But I think a lot of people look at how I apply and they say how in the hell Does this guy do this and I contend that the mental edge that you have to have Is the key? I I think a lot of people are their own worst enemy when it comes to um, the desire to build financial Uh security and I I I think a lot of people will be quick to say yeah, that would be nice But they don't want to take the first step required In the right direction to start to take those Um introductory steps to do what you need to do to get some capital introduced to the market Identify those accounts that are going to work for you That there's only a few okay But to take those initial steps to to do now anybody can start a robin hood account Anybody can start a Roth IRA and quite frankly. I think it's anybody can come up with a few hundred dollars I'm starting capital But these eight items right here are the things that I really think are what separates those investors that Um, we'll we'll end up succeeding to some capacity, right? If your expectations are perfection in stock market investing You found the wrong place. Um, I don't speak along those lines Um, I don't deliver a message that that promises riches overnight. I certainly don't Nor do I think that that's healthy for people I want you to think about that for a second people Are bestowed upon wealth all at the same time and they're not prepared mentally to accept that wealth They'll end up losing it and it doesn't matter about the money. It's relative. Okay So the first thing I want to mention for you guys And if you want to get a pin in a paper you want to play it back or you want to just ignore this piece altogether The whole intro is meant to get your attention Live below your means And as cliche as that sounds in the united states of america, especially it's really really difficult to do We're all guilty of always kind of paying attention to what the next door neighbor has or what our friends say that they're doing and Trust me. I I take a lot of um I put a lot of things that I want on the shelf And I observe a lot of my colleagues, man, and they're great great people and I don't mean to single anybody out Because there's a lot of people out there that absolutely Are that they have the ability to enjoy some luxury in their life But then there's others that really do stretch their capability Or their capacity to accept that wealth too early and it takes away from what you could potentially have In the future So if you really look at living below your means and the quicker you can get this lesson The better off because I I find people all the time especially in my profession Where they rotate out and they've done a nice 20 25 even a 30 day career 30 year career And they all say the same thing I wish I would have known now what I knew what I knew what I knew what I know now I wish I would have deployed earlier on in my life. It's super important to understand That key key lesson and I think a lot of people When they win that job It's great start making some money and they start to Fall into some habits of some things that they've thought that they've wanted for a long long time New car Following it fall into a nice mortgage, right? Start buying some amenities start accumulating stuff This is the what society says that we need to do now. What happens when we promote, okay? What we typically do is we will up our spending habits to match that level of income Now the older that we get we never really digress and we never really stop seeking that Uh spending discipline, right? It we always just up our spending habits as the income increases And I think the greater the separation you can draw between being satisfied at a level That is conducive to your means and I'm not saying eat farver beans all the time but ask yourself and How much do you need?  I sure do regret that I wanted my cake and eat it too over the course of my life Now I want to bitch and complain to somebody instead of looking in the mirror and taking responsibility for my own action All right Very very key to understand and a lot of people in some capacity Or another some more than others really really do get this idea in that they're Happy with what they have Isn't that a novel idea the second supplement time with soft dollars This is a super super core statement and anybody out there that doesn't understand What i'm talking about when you establish assets buckets In your life like the m1 finance that I roll out all the time There's a method to my madness as to why I do that The dividends that are rendered in that off of those dividend payers i'm approaching about 20 000 bucks In that portfolio The renderings in there are 50 cents a dollar two dollars 250 three dollars A dollar 50 two dollars three dollars here and there boom boom boom always always paying at about 70 holdings in there And most every day that goes by I get a little payment. I I fund it up I'm doing something in there to generate some churn in there Every penny That And I I'm speaking to the hard workers in the community. I am one of them. I do hold a day job Okay, I would never rely on youtube I don't enjoy it that much to say that i'm going to Take care of the rent or put food on the table or pay my kids dental bill with youtube earnings I just got an email right before I went live That they've changed the terms of service on youtube Absolutely, it's their right to do that So all you entrepreneurs out there that think that youtube is the absolute way to go to riches Hold on a second. I think there's a lot of intangibles to holding down a career While you're doing that investing for a lot of people Can be the ability to pledge a certain number of dollars to an asset bucket that over time starts to Create wealth internally for itself. So you're not always getting older Year in and year out you're getting older you're getting older and you're spending time for that paycheck and yes over time that paycheck does increase but Eventually your time Is going to expire Right Now the idea behind establishing those assets buckets is that those assets bucket have the ability to generate churn within them while you're Making money Right Okay, so that's the idea So for those of you out there that have a really hard time justifying the investing opportunity Retool your thinking and really think about The investing opportunity not to be hey if I put these dollars to risk I'm giving up that 80 inch TV I'm giving up that ability to go do this and that or eat pizza every night or take the family out to a movie Every single night or do this and that or buy everything I see or buy a new car every two years Right You start to move away from those rationalizations of what you're missing out of And really start to resonate with the idea that that assets bucket has the ability to really churn And provide you a supplement For the time that you're spending earning hard dollars in your day-to-day job Right and every little penny that comes in to help supplement your financial health and well-being Is a penny stepped in the right direction Okay, because if you don't have those pennies You're you're really missing out and the clock is ticking That's why I say that investing is more of a necessity than people will give it credit for Yeah, I'll get around to it. No, you got to get on that right now Like the people that need to be investing are not the rich people out there They're people like me and you okay, and I know there's millionaires in my my community here. Absolutely We we don't apologize for that type of thing. These people are millionaires for a reason Okay, they've deployed some level of discipline in their life and they're there and they don't just give up those disciplines Just because they can tell everybody that they're a millionaire. It's it's not like that the the most The most uh, unobvious places in this country are probably going to be those pockets of wealth That are the least obvious to you.  Those are probably the people that on the image Seemingly has it all taken care of but the real wealth It is probably something that is a lot less obvious number three Need to dare to think differently when I tell people to take control of their own money The initial reaction and I see it in their face is fear fear I can't do that that society has told me that I don't have the ability to do that I'm here to tell you that The absolute tools the products the equities I prefer vanguard products. Okay But I made a statement on one of my highly on videos that investing in johnson and johnson It doesn't take any capability and I give some latitude To the amount of minimum intelligence that I expect my audience to look to deploy Okay, if they want to make some level of decisions about their wealth building career Okay, do I want to be a passive investor? Okay, that's a no-brainer anybody can do it Do I want to be a dividend growth investor? Anybody can do that too. You can do a combination of both, right? Do I have a 401k? Well, there's a no-brainer way of investing all you have to do is contribute and take your free money match, right? If you're eligible, okay, so lots of different pockets of opportunity You just have to kind of identify Which ones are going to work for you? But for the independent investor The niche of my channel, okay The very way of seeking out that strategic edge of taking control of your own money Eliminating the fees within your account and then opting for the tax protection within the Roth IRA allows you to Accelerate your wealth Beyond what any financial planner can sit there and tell you that they're going to make all the difference for you It just doesn't work that way. Okay, and the quicker we can get to this end This is a forward way of thinking This is absolutely the niche and if I didn't have this niche Validated for me and coming on and share it Then the channel would cease to exist because again There's 500 to a thousand other financial channels out there that you can tune into And none of them talk about this stuff. None of them. Okay? It's really where my history in experience going on 30 years of investing Kind of comes into play and hopefully you appreciate me pushing forward that benefit to you guys very very important It's okay to think differently Don't apologize walk around with your head held high because you in fact know something that the masses do not Participate in what makes sense. Okay Bitcoin does it make sense to you? It doesn't make sense to me. I was out. I'm intrigued by it I've probably done more research than the average bear, but I'm not invested in bitcoin right now Does it mean that it's not going to a hundred thousand? I don't know I don't really care the whole essence of this lesson is that you don't have to put yourself on a charge To jump on every opportunity that comes along. Okay, you don't need to do that. So calm down Pick out one or two selective angles.  Get your feet wet. Okay, understand how lucrative investing can be But it does in fact involve risk and that your dollars will fluctuate down And the last thing that I would expect you to do is come on and hate on me Because your johnson and johnson stock is down a dollar fifty on any given day I'm going to tell you to toughen up a little bit Okay, the lessons that you'll learn from some of that stuff will be invaluable But Don't point fingers at others. Okay always hold yourself Constructively accountable For the decisions that you've made and I can justify Investing in a company like johnson and johnson or apple Or microsoft every single day of the week and twice on sunday. Okay Number five is to take setbacks and stride. Okay Expect that when you buy a stock, it's going to go down Expect that you're going to have situations In your investing career that don't work out as much as you maybe felt like they worked that they that you wanted them to work out Okay, like you had a premonition that something was going to happen and oh my goodness lo and behold It doesn't work out the way that you think you need to really get over those barriers because a lot of people used as those as excuses to pull out to withdraw to Change their thesis after three days Thesis has changed my goodness the stock's going down So therefore my thesis has to change right and the very essence of stock market investing in putting Any level of quantifiable value on one day? One week one month is irrelevant. It doesn't matter Okay, the only thing that matters I've been doing the independent investor channel for going on five years In the stock market game Five years is like the minimum minimum requirement for you to look at an asset and say VTI right now Markets at 34,000. Can I do it? Don't talk yourself off of that asset next week. Okay Don't talk yourself off of it next month. It's not going to matter Set your sights long term and you'll really get the maximum amount of benefit out of your investing opportunity. Okay number six I put relish the time Relish the time Time is beautiful, right?  I'm a father I'm busy all the time But you know what I find ironic is I always find time to do this I always find time to fit in appointments for people who ask me for the time When you get responses from my youtube channel, that's me. That's me Just a regular fella. I don't look at myself as anything special at all If you reach out to me through the whatsapp group the private group that you pay a few dollars for a month You're getting my specific unique opinion about about whatever it is you're asking for I always make time Right and I find it funny how everybody wants to you know, they never have time You know people always are like man, I don't want to put you out Man, do you want to get together this weekend? Yeah, I don't have an agenda. Good grief. I don't have a secretary. We're good to go You know and and so I think to have some perspective on the amount of time that you actually do have to focus on Not only this but other important things. I went and hit the gym tonight. I was like, uh, Crazy crazy fired up in the gym man. I I I was boxing and I felt good You gotta make time and furthermore you gotta look forward to enjoying that time In other words, if you set a schedule And you you use your schedule and you just dread the the putting appointments on your schedule Think differently unfook your mental capacity and and just mind f yourself into just enjoying those cool things in life Right, it's all good Okay, none of it is a burden Okay, get over yourself a little bit set over set some time aside Like all good does to fix her cup of joe Enjoy it. Enjoy the process of making the joe for crying out loud And then enjoying the beverage is just the cherry on top right okay Number seven Don't rely on others Don't rely on others Financial planning that kind of goes into it financial planning can be very good for some people But if you expect that social security is going to be enough when you retire Or you're expecting that the government is somehow going to bail you out Or somehow you're going to get a stimulus check for the rest of your life Or somehow forbearance is never going to stop Somehow this and that the checks and this and the support and that and this and that this and that It can really it can really cause some tough habit forming behavior upstairs And i'm not saying for some people that the support is absolutely necessary take it but Any time that you can motivate yourself to get off of that support and be a self-regulating entity on your own The better off you will be trust me on that guys There's going to be two different schools of thought on this Honestly, man, it's the holding your head held high knowing that I make mistakes. I f up to it's totally fine But man those successes that I have I own them because they're mine. They're mine. Okay. They're mine the last thing Never stop evolving Okay, never stop evolving Investing is one of the most humbling places. I've said this from the inception of the channel ever since I've been doing this You want to get it being investor? It's easier said than done. Okay.  It's not that easy. Sorry. I'm sorry if I just Summed up that in just a very very quick 20 second stent But that's not what it's about if you expect that you're going to render success out of that I'm here to tell you it ain't going to happen Investing is a humbling game It's one that you have to continually evolve at and if you really want to unfook What it is that you've got going on upstairs because it's got you to the place that we're looking to evaluate This evening right now not tomorrow Not the next day Right the hell now. I know it's like Jesus. I didn't sign up for this. Ryan.  Right now is is what you got to do You got to call it to action right now and you've got to really ask yourself is what i'm doing working Have I done any of the eight things on the list that ryan talked about tonight? Could I do a better job in some of those avenues? Ryan mentioned a few things that yeah, we're pretty cliche But the way he puts it and explains the deeper meaning of what it is We're trying to deploy here In being independent taking stock in the decisions that we make Don't rely on others taking ownership over the decisions that we make Making decisions and putting those Action items into work in reality for us not just blah blah blah. I'm gonna do this boy. Oh boy This ryan guy. He's really motivating freaking guy I just want to get up from this live stream and fall into the broker tomorrow and start investing Show me Show me because in this life I've seen a lot of people That i've come across in my day-to-day interaction And blah blah blah blah blah they got it all freaking figured out But when it comes right down to the granular Can you put the blah blah into action? A lot of people disappoint me. They really do They really do all right It's great to be back with you guys. Hope you didn't mind that those were the eight things man I know the title of this video was you know It was aimed to strike a chord it really was but when you start to ask some of those questions Why don't more people invest? Why aren't people retiring wealthy when the the opportunity? It's there. Okay. It's not something you have to discover It's not that something that you have to Come upon and get lucky to discover If if you don't identify that an opportunity is there for the taking This is where I find that the independent investor channel can provide some value to you in in telling you Telling you that it's there It's there. All you got to do is reach out and grab it All right, let's do some portfolio reviews then I'll get to some Questions here for the remainder of the live stream guys. I'm going to go through the review Rather quickly if we can this is the brokerage account here Added the wish in the speculative category. This really dipped over vacation I was having a great vacation, but I was down about oh 20 or so 1,000 Cumulatively over the accounts The market really got cranky As I was monitoring it while I was on vacation AT&T obviously with their With their acquisition, I guess of discovery and then potential spin-off and reduce some debt I really haven't looked into the deal, but I'm holding AT&T that could be a problematic But I don't have a problem holding the investment here in the telecom space I really don't But um, that's how the the taxable there about 85 percent invest in stocks and about 15 percent in cash The Roth IRA here it is up Since the last time I declared this this is two weeks old here But they are updated as of today as to the holdings give you guys some ideas some of those some of those nuggets Like ryan, what's the what's the greatest stock to invest in right now, man? I don't know microsoft I VOO probably would be the answer that I could probably give to the masses actually And be right most of the time That those assets over the years have done nothing but impress me And I know there's going to be a lot of people out there that are like yep I agree with your ryan and I've been foot stumped on that opportunity for a long long time Market's been conducive to owning the OO and you might say well, what do we do in a down market ryan? It's very simple in an ETF like that. You just buy more very very simple Simple simple application if you feel like you need a financial planner To tell you the same thing. I just told you for free By all means, um, but I'm here to tell you that you don't need it. Just buy it and own it You want to invest 500 do it you want to invest a thousand if that makes sense to you? Great. Go do it. All right And here's roth to 120 I guess in here 92 stock. So pretty invested I bought 10 more shares of alibaba today I found I felt like from a value proposition that really looked good Um salesforce.com is a really good entry right here No doubt about it to a nice big dow component Established cloud play best in breed Um crowd strike had a nice comeback today. That's a good entry Large like the fang names have really taken it on the chin With the rotation in value that has been absolutely real Yep. Yep. There's some value propositions out there that have been doing quite quite well Um, and that you know, I would never ever suggest that value investing is somehow a bad thing I you know, it's it's easy to sit there and say, oh, this is terrible Man, I'm only making a 3% dividend when all these other stocks are going up 20 30 Yeah, well you take it on the chin and you find out that that dividend is awful nice When those high growth stocks are adjusting back on you 10 20 30, right? Um, and you say, well, what is the solution ryan? My solution is to own them all It's own them all can I say and this is the um M1 finance the sector portfolio. This is all 11 of the specialty ETFs. This is chugging along quite nicely This is up here over the last couple weeks a little bit passive investing 101 With the strength of m1 finance on the passive ETF side of the house And then m1 with the 71 maybe 72 I think I liquidated ab v in the roth added ab v in the healthcare sector here. This is um comprised of 10 Sectors that i've peased off minus real estate And it only has single stock dividend payers This is an awesome account. It's it's kickass You guys can really relate with this if you wanted to start this account with $500 you could do that And so this is where you don't think that there's opportunity in the market you come on to the independent investor channel This is why I provide these for you guys. It's not to say. Hey, look at me. I've got 18,076 eight far two six eight four decimal three That makes little sense to me and I don't put value in that I I don't I spend the vast majority of my time paying attention to the structural program and a lot less attention to This is really the cherry on top when I come and declare this to you you find folks every week where we are in progress But from a week to week perspective, it really doesn't mean a whole hell of a lot anyway However, it does validate and if i'm going to sit across from a youtuber you better have some skin in the game Okay, don't sit there and talk to me about investing and hey my angle is somehow special If you've been investing in the stock market for a year and a half Sorry, um, you're not going to win me over. I'm sorry. There's some sound investors out there That fall under that camp, but until you go through a big big downturn in the market That's going to be the show me moment that that proves you're worth with me Okay, all right And I talk about those lines as well for new investors They need to hear that scary stuff too, right? They they don't need to just relate with the vision of being on the rocket ship The cartoon rocket ship going to the moon with four idiots. All right $50,000 threshold in the tsp met and surpassed A milestone that I will impart to you So I always put nuggets out there doing the live stream as we pushed up TSP contribution from 10 percent to 20 percent just this week So i'm very proud of that. Remember how I said always evolving See, I never get complacent with my application If you want to take that card and deploy it for yourself. I encourage you to do so. I really do The calls i'm not going to get too detailed. I didn't get to update this I do have leaps on highly on eight contracts at 12 and a half For 2023 and five additional contracts with a strike of 10 For january of 2023 as well. So not only do I have the big bullish stock position But I do have the leaps and highly on as well I've got some small put contracts as well cash secured puts. I've sold premium on here Uh at nine. I wrote those today. Why not? I sold some stock actually outright Which brought my position down to a nice cool 6,650 so Um, I got a little breathing room there with a swing trade opportunity that I picked up those shares At the optimal Entry in the eights. I didn't get it with a seven in front of it. Some of you guys probably did and I I applaud that effort I don't think we'll see it again. That's just me But um, that's that's where we're at and then the portfolio value There 497 and like I said that that half a million is uh, it's a big one to me It means a lot to me sentimentally It it validates a lot of what I do a lot of what I teach upon Which I'll be fine But I'll be damn if I'm going to come on to a social media Opportunity and not acknowledge how important it is that the words that you put out there over the airwaves Has the potential to really help people and also hurt people at the same time I take that responsibility very very serious. So there we are 3000 shy I thought about taking out a loan and just throwing it in there. Come on man I was $50 away two two weeks ago and I never made it so until I'm until I make it We're not there. So let's cruise in here and and cruise up to the the thread here and start getting some shot outs here Again, all good. Yep. It was a great vacation and and I recommend each and every one of you guys Look into the prospects of visiting the smoky mountains. It's a beautiful place Beautiful in so far as it tempted me I I would be tempted if things work out to maybe hold a cabin there someday It was a lot of fun kids had a great time So Mr. Weber's in the house man. Yeah, things couldn't be better. I'm refreshed Hopefully you guys are feeling it. I don't know maybe I don't know calm cool and collected tonight Delivering a good message for sure. Yep, and then chris. He's on vacation I think he was lending an ear to the live stream He's just part of the family just like a lot of people are here but chris has been with me for a long long time And this is the real strength outside of the dollars and the hoopla up 20% and this is the stock that looks good This is the deeper meaning for me Actually is the network of fine people like chris who are part of this community. No doubt about it All right, and mr. David. I feel the same about absolutely And yeah, I do feel like a lot of people will benefit if they're willing to receive the message Who am I? Who am I? Do I have the ability to break through for people? I feel like I do. I feel like I'm doing my purpose. I really do I'm critical of myself. I am I know there's people out there that that don't like me I'm getting tougher that's for sure And you know, I would be awful disappointed if I thought that I could have said the right thing Or something here or there or crack a joke here and there to make that difference When I start thinking along those lines, I start to digress and I start to move away from who I Really am and the good stuff really comes out when I am who I am and and no more No less. So we'll continue to do just that Fantastic. He says I love the title Me too It usually doesn't take me long to come up with those man It's it's really meant to strike out a route David as well has been part of the family here the independent investor community for you guys that are new to the Opportunity here in the live stream when I say that You have to understand what I'm what I'm talking about when I reference the successes in each and every portfolio because In some small capacity or large capacity Some of the fundamentals and philosophies that I teach upon through the channel are deployed and succeeded upon That that in some small way is is is really the validation for me Because like I said if I'm going to get on here and blah blah hoopla and build up my ego Just for the sake of building up my ego. I'm not going to do that. Okay. I'm not so It's the beauty of the channel man for sure And mr. Bob's in the house Absolutely Love it man. It's great to see you Bob Love the debt mark. Yep. It was a good deal. You know, um 100 over five years Relatively small. I thought the big takeaway there was The uh exposure to that very industry. What what a statement, you know To to partner with an actual fraxand company Like debt mark.  You're doing highly on videos. I do that because instinctually I think that's the stuff that matters right now I do I bought the position and wish because I don't I don't see a whole hell of a lot in the market that I'm really that excited about Uh entering back into contribute more. Yeah up the dca. Sure Uh contribute a little bit more to the m1 finance accounts. Yeah, that's always there, right? But as far as new opportunities I'm good. I'm good. I from all the way down the line from sector to sector You know energy and the industrials and financials looked really good today Outside of that. I'm good on this market. I'm just enjoying Being an investor. Okay, and and I'm I've got skin in the game There's no doubt, but as far as being in sixth gear I'm not I'm probably in about second year And that's probably being pretty conservative on my application right now. All right, very cool Not just demos. No, those were solid orders. I'm not surprised a bit this company's fabulous They're doing everything that they need to do to scale up and you don't scale up a multi-billion dollar Organization overnight. It just doesn't happen that way. They're doing everything right There's gonna be hiccups. There's gonna be problems. There's gonna be churn There's going to be issues that are turned back Hopefully through the hybrid system and through the innovation council However, I just hope that those are taken in stride. They're taken constructively and All of this process improvement initiative that they're taking now prior to scale up is Just a bullish thesis for me. Like I look at it. I'm like, yes, this is so good They're not rushing to market Detroit did diesel did that a many a couple decades ago Where they turned out a bunch of engines where the engine blocks were compromised Because the steel that they got was bad steel and they didn't have a check in balance to to read the grade Before the blocks were bored out and they ended up turning a bunch of blocks out that cracked And they had to take all those engines back. What a costly mistake So for an industrial company like this I want them to do as much diligence as they possibly can before they start turning out product on the line Very very important man. Very cool and phenom. Absolutely. It's great to see you and thank you so much I really appreciate you and um your your involvement in this community It always makes me happy to see your kind comments and support man. It It's it's it goes a long way with me. It really does. So thank you. Thank you very much. Very cool Phenom says hit the like button. I said that you would probably have some good luck There's your thumbs up fortune cookie for the evening if you want to hit the thumbs up go ahead and do so That would be lovely lovely and here's what it looks like for all you people out there that don't know what it looks like If you opt for the other option You know what I think about that by all means if it makes you feel good Go ahead because I don't really care either way. I really don't it's just good to be back with you guys on the live stream Absolutely. Let's see what kind of streak we can rebuild again going forward And brian brian's joining us from san diego man the nicest weather in the united states of america bar none I remember my time down there in southern california man. It's like every single morning you wake up and it's Nice every day you wake up and it it it's nice I'll be at the beach tomorrow though man for sure. I'm going to enjoy some some beach time tomorrow. We're going early We're going to uh stake the umbrella and we're going to have some fun out there. Absolutely All right, all right So very cool cruising down the thread here guys I really want to try to time this to where I can get some shot outs man here And sober trades and a lot of the highly on threads So shout out to you my friend. I I try to send some invites out there if you guys don't notice man So in my live stream I invite people in every friday. Okay, and if nobody comes in The invite is boom right there now in the bottom of the thread. It looks like that Most people opt to sit back and listen to me rant and talk about dry humor and drinking chai tea and fishing in alaska Most people opt to do that. However If you do opt to come on here and wrap with me It adds a little different dynamic to the live stream and it's an open door policy man I've done that for quite some time I just think a lot of people would just prefer that I run it myself and I have no problem talking about personal freaking finance for 60 minutes It's a fast to 60 minutes on youtube No doubt about it No doubt about it. It's great to see you sober trades and appreciate all your support there. It's very cool, man He says he's from canada. That's pretty cool, man Good evening ryan and the group absolutely bringing the group together rebecca says love pigeon ford very good Uh, what do you think about thomas selling 300 shares this morning? That's his prerogative to do that I don't read too much into it Um, I don't know what his thought was. I don't know if it was part of a prior agreement I'd have to look into what that was about Um, I have no idea. It's it's um, it's okay. Hell. I I sold 1,100 shares today Um, because I was entering into the stock Um in the in the eights, right? And so I had some blocks of buy share that I was able to buffer turn out a nice $1,000 bill of profit here kind of lighten my bag a little bit I'm collecting the premium on the contracts, right? Um, I don't know. I'm a little neutral on that I I think I would shy a little bit to it sends the wrong message for sure Anytime internals are being selling, but I don't know the particulars of the deal Usually there's something there that could help maybe Shed a little light on what was going on there if I have them on the channel. Hell. I'll ask them directly Mm-hmm. Mm-hmm You know very cool Financial options with thumper. What a cool. What a cool thumbnail man gone for two weeks. Glad he's back. I yeah I'm glad to be back too. Um, this is a fun project for me. Absolutely Um, when I step away from youtube, I do so just I look at emails like that when they change the Ad revenue payout on youtube you guys think I'm crazy for doing promo videos Honestly, and most of you guys don't watch that that's that's fine I think those projects are not only fun, but they're educational and I get paid a truckload of money to do that You might be saying that sucks Ryan. No, it doesn't I I'm not looking to waste my time either And the the more compensation I can get for my time The more opportunity I'll have to scale up my message. Okay I've got things in the back of my mind that I would like to do with regard to You know getting My thoughts Caught a fight in a good step-to-step course that somebody can take at a low expense I can't do that unless I feel like I've got the The the financial backing to do so until until I get there. I won't do it And I'm aggressive on those opportunities. They think I'm nuts. I take every opportunity. I get I don't care Because I don't rely on ad revenue through youtube to to pay for my time those promotional videos Those the most lucrative things I do So if you feel like you want to support the channel some diehards in the community They don't mind coming on and at least hitting the thumbs up button saying hello in the comment section That would be the least of what I ask because here's the thing I I make nothing for doing the live stream nothing I do it because I want to and I love you guys. I really do I really want to see you For those people out there that sit back and need to be painted a picture for the opportunity in investing Well, I sell out for 60 minutes Sell out in a good way in that I deliver the goods and I deliver the goods On par with some of the best out there. Okay.  Okay. I'm not here to entertain you. I'm here to make you think Okay Very cool I'm cruising down cruising down cruise cruise cruising down the thread Jerry's in the house. Great to see you my friend fantastic, man Fantastic, we've got a heck of a collection of great great people in the community Over the last couple years. I guess the cool thing would be To say where this channel and project are going to go over the next five years I don't know. Maybe over the next five years. I'll break 30 000 subscribers. What do you think? Could it happen? Will it happen? I don't know. Maybe I'll go back to zero and start over again. Who knows? Maybe everybody will hit the unsubscribe button at the same time I wouldn't worry one second about it because again, I don't put food on the table with this I do it because I want to very simple. Eric Weber says Yeah, that's one for you to chew on for a second David and Doggo absolutely says hi peeps. Great to see you my friend. Very cool. Very cool True words of wisdom. I I guess so I have pieced together a lot of what works and what doesn't work. I I I always I'm fascinated By the explanations I get for people who do not wealth build. They don't participate in financial markets There's usually systemic other things going on as well That that need work. I always feel like You need to have some stuff Taking care of in your life before you look to make sense of the stock market If that makes sense to you in other words, I I would employ you to have some Be grounded have some discipline Uh, don't be emotional Yeah, yeah, it to succeed in investing takes a few attributes that of which I think a lot of people have Uh and where I come in is to identify Um where in people they have those attributes that they don't think that they have Okay Yeah, very cool number says good bobs. Absolutely It's like bob marley in the back of my head Yeah Very cool Yeah Yeah, man, that's I don't put a lot of stock in it, right? So yeah, I mean That there's been some schools have thought I was I was one of the very originals five years ago There wasn't a lot of people doing youtube and my channel just it has not gone to the moon On a rocket ship, which is fine. I'm I'm incapable of that type of luck anyway I've had to grind my way in life. So It's totally totally fine I'm very proud of this project 30 000 subscribers strong. I'm proud of it. It's a great project and it's It it it empowers people and they tell me about it on a daily basis But uh, yeah, I don't I don't rely on that too much. It is what it is And um, I'm happy about that little stipend I get every month that helps Keep the lights on what can I say Very cool The franciscan's the house got a couple minutes left to gonna This went fast tonight ryan fakes sleeping while uh cashing in Is my Like I said, I never know what this guy's gonna do on the live stream I was sitting here before the live stream. What the hell am I gonna talk about and I was like, man I've done like 678 of these previous and I've never flatlined So, uh, I wasn't gonna start tonight Unless I flatline within the next less than two minutes Um, you guys have got another riveting eye opening live stream tonight and uh, at the end of the day I I I hope I've earned your time Because I don't look to waste it. I don't look to waste mine If this project ever becomes dull stale Not accepted not wanted not appreciated. I'll go away. I'll go away and I'll miss you. I'll wish you all the best But I do think we're making a difference. I really do man in all honesty. I think we're making a difference and uh I'm gonna drop the last invite in here because aside from uh overlapping with the gents Who I expect will probably be coming on after me. I will leave the last Invite there it is. It's at the bottom of the thread right now If you want to pop into the studio with me and talk about anything you want to talk about I don't know highly on going to a hundred. I don't know. We'll see what happens Um, but you're welcome to do that for a few minutes and then I'll kick over and support the gents for sure Um, but I got ryan giffin in the house here man a great friend of the channel who's just killing it What what a great great example of somebody to look at and say wow, you know entrepreneur investor family man, he's got it made And uh, we don't apologize for success on the independent investor channel. Do we ryan? It's very good. It's I'm just glad to know this guy man for sure It's always be part of the family here No doubt about it. All right, alexandro ryan helped a lot with getting that self-directed. You bet man At some point you got to be introduced to that stuff and knowing that that designation exists Very important something the institutions really would rather keep under their lid because they're not going to openly advertise That's where I come in Glad to help. Yeah, it's changed my life and hopefully it can change others as well So, um, we just clicked over. Let's conclude the live stream guys really appreciate you We're running the half price on the independent investor group calm. That's independent investor group calm Uh, it's throughout the summer. Um, and I may keep that as as more of a nice entry We want to promote folks to make their way into the group that that's what they think they'll enjoy And get some value out of We do have the m1 experience which I enjoy doing as well If nothing else tune in to the independent investor live stream every friday 9 o'clock stay tuned for that leor gants Interview that's going to be coming up within the next couple weeks or so That is my personal favorite interview that i've ever done in the history of the channel No doubt about it very very sharp investing minds And um, we're glad to have them on the channel as a featured guest So with that guys, we will go ahead to off have a great rest of the weekend guys And we will catch you next friday in the independent investor live stream. Be well Be healthy. I will catch you next week. Thanks guys


So here's something cool, I think. I heard Dave talking about apps for the Apple Watch while bike riding and you really need to check out this app. It's called Work Outdoors and measures location, altitude, heart rate, has a nice spectrum apps with zoom and pan on the watch. You can see a route on the map and then every session syncs to the phone. This is the most impressive app on my watch. Huh, slash phone. I've had it for several years.  That sounds pretty cool. I gotta check this, I've never heard of this before. So Work Outdoors.net. Yeah, very cool. Wow, I'm just looking at the website for it. Yeah, that is cool. All right, I will check it out. I promise.


Hi everyone. Welcome. I'm really really thrilled today to be speaking with Amina Blackshear, who teaches at GSAP and has been teaching for some time as an adjunct faculty. She's been very much embedded in the core of the Master of Architecture program, but also leading Advanced Studio 4. And so kind of has a very interesting peak in the beginning and the middle of a kind of trajectory in the student's life in the MR program as they start and then as they start to shape their position and kind of expand their scale. And I know Amina, you've really pushed issues of representation, boundaries of the discipline in terms of what are the tools we engage in and how we hybridize and how we have agency. And so I wanted you to talk about that and then expand into your office and your practice and ideas about practice. Sure, sure. Well, thank you, Dina Andros, for having me. It's lovely to have this one-on-one chance to have this collaborative conversation. And it's pretty rare to just be able to unpack one issue at a time. It's been a joy to teach Core One and Advanced Four. This year I'm lucky to have the repetition that this is the third time that I've taught Core One and so I've seen when we first brought in this new syllabus of dissecting Broadway in eight segments across the eight studios. And then last year I really took on a region of Broadway that overlaps with some of my own research. It's from Houston to 30th Street. And so that we've looked at going all the way back using a lens of historical criticality and what was known as Land of the Blacks during New Amsterdam and really used the section to cut through history. So literally the ground, the surface, and then the air. And students have selected really provocative sites to build their concepts around public space. So I really am, I celebrate that students come with architecture backgrounds and from other backgrounds and that everyone has something valuable to bring no matter what their background is. And so sometimes with Core One it's like unpacking this like I need to catch up mentality and it's not really the case. It's maybe learning conventions and representation. But if you come from anthropology, physics, finance, there's many different kind of points of entry. And so I really like the collaboration that happens amongst the students in Core One. And I start with the brilliance of the student and then kind of pull out what is their expression and how can we execute that. So it's really a kind of way of recognizing that everyone has a voice. And what are the tools, modeling, different drawing techniques, animation, one-to-one mockups that you can express yourself. So I think the diversity of projects in Core One is just like there's 11 students, there's 11 unique projects. So that's been really exciting. I'm always, it's always, I mean it's very interesting to hear you speak about both that kind of diversity of backgrounds and different voices that get woven together in a studio and have a real kind of conversation around this line, you know, Broadway that gets cut and critically. But at the same time, the fact that the students are able to develop their own voice, which is something that I think we try to really support at the school. And I was curious to tie that to when you meet them again, like three semesters later, and what, you know, what is your sense of, you know, that kind of flattening of difference in terms of skill, but maybe more difference in terms of position or, you know, kind of that. Yeah. Yeah, I think Advanced Four is perfectly suited as like a hinge point between you've completed the core three semesters and then it's the in between of going off on like a completely individual path of Advanced Five and Six. And so I think it's great to see the students have a site and go deeper into a discursive position on what, for example, last year we looked at the arts and the academy, what that meant to meld and what kind of high art and low art means when you're putting it in terms of the context of an institution. And so we looked at the Newberg Performing Arts Center as our kind of pseudo client in Newberg and that takes high school students and dance. And the students came up with really provocative ways of thinking about how architecture serves as a liaison or a kind of in between and really got to know in their site visits, like walking around talking to people and meeting with the director of the academy. So it's like sometimes astonished to see the progress that these are the same students that you really can't tell the difference between who had a background and who didn't, like you said, the kind of flattening of that skill set. And then when they have a more defined point of entry, this is kind of the, it's almost more in a realistic client budget model of a project. And so that was really gratifying to see still very different projects across the studio, but they're really operating at a high level of sophistication in terms of a building proposal with awareness of how it fits into the context. And I know kind of connecting high and low and idealists.  When did you talk about your practice at the Lier Office with Mitch McEwen and some of the ideas that are, that you're working on. You know, I know you're in your own work. You've pushed the boundaries of architecture and performance and again, the kind of the digital and issues of visualization and technology is this kind of incredible, incredibly rich set of sort of tools that you're kind of appropriating and wanted to hear a little bit more about where you are taking the practice and where you're taking architecture through that. Sure. Thank you. So we right now have, I guess we'll start with our merger came because we really have an overlapping interest in kind of the mechanic in the body, the analog and the digital. Mitch had hosted a conference, Black Imagination Matters at Princeton and I contributed a project, Robot Double Dutch, trying to take the precision spatially, the spatial precision that robots have and imbue them with a rhythmic precision. So kind of time as well as space precision and showing that the games Black girls play four, five, six years old or actually there's a nuance and quite a lot of sophistication. And so this idea of kinetic intelligence was born into how can we reimagine drawing that it might not start initially from the machine from the computer, the laptop, but that you can draw in three dimensional space and then translate that into digital and then combining with an urban and computational tools. It's been really exciting to, we were finalists for the Miami Design District and created a pavilion of sorts, two pavilions using sequins to capture solar energy and emit light at night. And we're really looking at it as ironically ramping up in this time. We see that like our existence is resistance, that even to be who we are and be like joy is kind of counter everything that says. And so it's like the seed coming up out of concrete. And so we see it, we're based in New York, but we're really taking advantage of our international kind of reach. And we are working very early stages, but on a media village in East Africa and a theater project. And it's kind of reimagining the face of the theater in the back of house in New Jersey. And it's been really great. So far with this time, we've been really inventive of how we work. I was in Brazil, really started to merge our business model and start to work. And so we've been really productive in this remote time. So I think that's a good kind of foundation to have that whether we're block away or, you know, a couple of states away, it's like we're on the same page. That's amazing that you, I mean, I remember seeing the video of the launch of Atelier Office in the middle of the pandemic and, you know, upheaval. And I was like, there is hope. There is optimism, there is hope. It was so energizing. And I really do hear when you say your existence is resistance and the sense of joyfulness, just kind of being an architect on your own terms and wanted to open that up even a little further. You mentioned before that, you know, it's not enough today to be anti-racist. We have to be pro-black as architects and support, you know, what it means to be black and to be an architect in America today. And so I'm sure your practice is pushing all those boundaries to hear more about that as well. That discussion was great because it was a kind of way of recognizing that when we talk about anti, anything anti-black racism, that's almost like waiting for something to happen, waiting for an offense to happen and then countering it. But if we start with the recognition of the profound value of a person, then it doesn't have to wait until the insult is incurred. And so that's really where I think to not be so define oneself in relation to a larger context or in relation to, but it's kind of a self-referential definition. And so just starting with, it may not even have to, I think, being pro-black recognizes that you can just be who you are, that it doesn't have to be that you even refer to your race, but it's almost the recognition of the inherent value of everyone, which seems revolutionary in some context. But if that's just a given, then so I think it might be like steering to one side in order to compensate. But I think I wanted to emphasize the pro, like the proactiveness of saying what you're for rather than saying what you're countering. Well, certainly, Amina, your model and inspiration for so many of our students and myself and, you know, I mean, just kind of pioneering on your own terms, what it means to be an architect today in the world, really inspiring. And I'm so happy to have you at the school. So thank you. That means so much. Thank you, De'Anne Drow since I really celebrate the creativity that's here throughout the school and that the school attracts and the students and the way that you're running the school. It's really kind of a jog or not. It's the place to be. Togetherness for a better world. Yeah, thank you. Thank you so much, Amina. This was fantastic and just so eager to see your work just flourish. Thank you very much. That really means a lot.


Thanks very much and thanks in particular to the Institute for inviting me to come to Dublin for the first time ever, I should say. I hope to be back many times. I'm going to run you through the IPCC Working Group II contribution to the fifth assessment report. I'll perhaps redone it for some of you. First explain a bit about how the IPCC works and how it arrives at these kind of conclusions that it presents and that you read about in the media. Focus in on some of the key conclusions and then talk about the relevance it has to the adaptation to climate change. So that's the target of confronting the climate adaptation challenge. So for those of you who are not quite familiar with the IPCC, or just as a refresher, I thought I'd just show this diagram which is actually from the third assessment report back in 2001 that shows the decision space on climate change and climate policy. And it's quite nice to map the three working groups of IPCC on it, conveniently called Working Group I, Working Group II and Working Group III. Working Group I is the working group that deals with the science of climate change, natural science of climate change that looks at to what extent are humans increasing emissions, is that leading to climate change, what can we expect in the future and so on. So that's the clear mandate of Working Group I. Working Group II that I represent and I'll be talking about is this big block that deals with a given climate change. What are the impacts, the vulnerabilities to climate change and to what extent can we adapt to those impacts and vulnerabilities? And then mitigation, which is the other policy response, has its own Working Group, Work Group III that looks at to what extent reducing greenhouse gas emissions and enhancing sinks of greenhouse gases can reduce the human interference with the climate system. So the three working groups worked for the past four years or so to assess the state of science on these issues of climate change, impact, vulnerability, adaptation and mitigation. And they all had their week-long session where countries come together with scientists to agree on the summary for policymakers. Some people argue it should actually be called the summary by policymakers because policymakers have a strong say in what is actually being said here. But it's based very much on the individual chapters, the underlying reports. The quality of this picture isn't very good, but this is the copy that came out of the week-long deliberations on Working Group II in Japan at the end of March 2014 where government representatives and authors were locked up in this building not only during the day but also during the night, I should add, in order to achieve consensus about the findings that were going to be in that summary. And the word consensus here is important because the IMPCC operates by consensus. The consensus that is sometimes referred to is the consensus between governments about the findings that the researchers, the authors, have presented. Now, so what happened inside that building? This is a picture of the room where in the front several authors are seated and you can see they're all looking at a stage where this gentleman together with his colleague, the two co-chairs of Working Group II, were leading the deliberations. And because this was the opening session there was quite a bit of media interest as well, but the rest of the week was off limits to media. It was only between the government representatives and the authors to discuss a draft that had already been prepared by the authors and the governments go through that literally line by line. So here's a picture, some of you might know the lead author there in the middle, Richard Tol. Together with his colleague, Dr. Aaron from the US, every author team, CLA, is asked to sit there in the front and respond to questions that governments might have on the text that refers to their particular chapter. So you see their project, there's not separate pictures, actually behind them there's a big screen where you see a paragraph with lots of track changes and highlighting and so on. That's the level of detail by which governments go through that summary line by line. And it's really a discussion between the governments. It's one government, here you see Norway looking a bit pensive at what is there on the screen and Belize are also wondering if that's really clear enough and if that's the message they would like to take home to their government. India is here working on some text proposals and New Zealand have a suggestion on how to frame or state a certain finding in slightly different words. And this goes on until all countries agree about that particular sentence and then we go on to the next sentence. It's a very careful process. This process took very long, not because it was so controversial but because countries are particularly careful about how certain things are framed because they need to be able to explain that to their governments but also they realize how important this is for making decisions under the climate negotiations in UNFCCC. So then the co-chairs would take stock of the various suggestions. Sometimes they have to consult with the authors to see if the suggestion is actually consistent with the chapters and the chapters are not up for discussion here. And if they are then in agreement, we go on to the next question. Good, so just by means of process because I think there is quite a bit of... If you just rely on the media on how the IPCCC process works I think it's easy to get sort of a misperception of how that process works and how that consensus is being achieved. So the summary will appear in the full report of Working Group 2 which actually consists of two volumes. This is going to be more than 3,000 pages. It's probably more close to 4,000 pages, a few kilos of book. And that's also why it's so important to have that summary because nobody is going to read 4,000 pages, right? Now about Working Group 2. The three working groups of IPCCC have always existed since the IPCCC was set up in 1988. It was set up in 1988 to do one report that would inform the negotiations on the climate treaty that was agreed in 1992. So they come up with the report in 1990, which is called... I don't even think it was called the first assessment report. It was just called Climate Change 1990. It then became the first assessment report because countries wanted the IPCCC to continue doing these kind of assessments on a periodic basis. Always through these three working groups. And Working Group 2 was always about the impact. Issues of vulnerability and adaptation really only appeared later even though that was perhaps part of the title. Adaptation wasn't so much on vogue in the early 90s. It was seen as politically incorrect because prevention is better than cure and if you do research on adaptation or if you even talk about adaptation you are distracting from the need for mitigation and therefore adaptation wasn't a very vibrant research field at the time. It is now. Developing countries insisted because they felt that they were the first ones that needed to adapt, the first ones that would face the impact that in the third assessment report there was going to be a chapter specifically on adaptation and there was one in the fourth assessment report as well. In the fourth assessment report there was also a chapter that linked adaptation with mitigation. The fifth assessment report, the one that just came out has four chapters on adaptation and each of the other chapters that deals with impacts on the sector or the regional basis also talks quite a bit about adaptation. There is much more research available for the IPCCC to assess now. And it is taking the word vulnerability much more seriously. Vulnerability means to what extent are people actually going to be affected and the differences by which people are affected. It means a focus on people. Previous reports of working group two were very much dominated by natural scientists just like working group one. Working group two this time around involves many more social scientists and I'll come back to that in a minute. But what that means in terms of presenting the science for example is in previous reports as an example the IPCCC would look at the impacts of climate change on agriculture which means food production. So scenarios of climate change and temperature and CO2 and rainfall would feed into agricultural models and the result of that would be presented as a percentage increase in crop or a decrease in crop. That is still part of the assessment but it has now also included the human dimension. So it is no longer talking about the impacts of climate change on food production it's talking about the impacts of climate change and food security. So that's one of the ways in which the IPCCC is not only trying to capture a larger and more relevant field of research but also responding to needs of decision makers and country policy makers. Very briefly about what the working group two report then covers. There are 30 chapters in total. Two parts A and B and the first part is about the global and sexual aspects. There are two chapters that sort of set the scene one that looks at what the working group one contribution to the fifth assessment report talks about and also what previous reports have said about impacts and one that presents a decision making context within which these results can be read and I'll come back to that. That's quite different from previous reports it talks about the risks of climate change rather than just the impacts. Then there are several chapters that deal with natural management system like water, coasts and so on. Three that deal with human settlement industry and infrastructure human health well-being and security then those four chapters of adaptation that I talked about and then three chapters that try to aggregate this into a chapter on key vulnerabilities on attribution and so on and on security. No, that was the other one. Then part B is a series of chapters that really look at this by region. The IPCC cannot zoom into individual countries but it does identify nine different regions including open oceans plus a chapter on regional context. So for Ireland obviously the chapter on Europe is relevant. I actually did a word count in the Europe chapter I think Ireland's mentioned twice. But still there are 30 chapters in total in fact also about Ireland there was not a single IPCC author this time around from Ireland. I'm not quite sure if there was a reason for that but to compare in Sweden we had in working group two we had six lead authors two of whom were coordinating lead authors but perhaps we can get some insights later. There were 309 authors and review editors from 70 countries involved in this 3000 page report. 37% of those were from developing countries and countries with economies in transition. Almost a third were female and I think very interesting more than 60% of the authors were actually new to the IPCC so they weren't like me involved in previous IPCC reports. They brought in new ideas, new perspectives and many of those were social scientists. So back to that summary and what does it actually say? The first message and I think that's a really important one at the beginning to sort of set the scene as to why we can be much more confident about finding some impacts of vulnerability than previously is that there is a substantially larger knowledge base in the literature, in the scientific literature than there was in the fourth assessment report let alone before that. So they say that increased literature has facilitated comprehensive assessment across a broader set of topics and sectors with expanded coverage of human systems, adaptation and the ocean. So a lot more literature, a lot more work for us as the authors of course to read all that and then to also emphasize some of the new findings that have emerged in the literature over the past six, seven years. This is a diagram it's actually the first diagram in the summary to frame as I said the discussion in one of risk is actually very similar to a diagram that was in the special report on the IPCC in between the fourth and the fifth one on climate extremes, disasters and adaptation where this notion of risk and how it links to impacts is really quite central. So risk being a function of hazards, exposure to those hazards and vulnerability to those hazards that determines the risk and the materialization of that risk creates those impacts and those impacts are the results of climate. I think actually the arrows from impacts are the wrong way around I have no idea why they are the way they are but these impacts are a function of climate both natural climate variability and climate change as well as several socio-economic processes. Exposure is higher in those areas where more people choose to live in the coast for example or in some countries where people have no other choice but to live in highly exposed areas like flood plains. That all combines into risk it provides a context that creates the risk it also creates a context for decision making for risk management. Three sections in the summary for policymakers it doesn't just summarize the 30 chapters that would be perhaps a little bit too repetitive but it combines that into three sections one on observations, observations of impacts observed vulnerability and also observed adaptation within that broader context then a section on future risks as well as opportunities for adaptation and a section on managing those risks and building resilience and as you can see I'll go through some of the headline conclusions there there was quite a bit more confidence in the first section then to the second section the third one on managing future risks because there is very little empirical research that allows us to talk with confidence about what good risk management procedures and practices would be and we can perhaps discuss that afterwards. This is in a way an important new finding compared to the fourth assessment report the fourth assessment report was the first time that the IPCC stated that impacts are being observed in natural systems now it demonstrated that impacts are being observed both in natural and human systems around the world and they are attributed to climate change many terrestrial freshwater and marine species have shifted geographic ranges so these are examples of the ecosystem impacts but for example in human systems there are observed changes in crop yields that can be attributed to climate change and this is an interesting one because often agriculture is seen as an example of where climate change might actually be a good thing first of all because more CO2 leads to better plant growth but also because in higher latitudes including Sweden where I work higher temperatures might actually mean more productive land and more productivity more crops taking everything together the IPCC has come to the conclusion with high confidence it says that negative impacts of climate change on crop yields have been more common than positive impacts and of course the underlying chapter on food security provides much more detail in that differences in vulnerability and exposure arise from non-climatic factors use it as some jargon here but this statement is basically saying that it's not only climate change that matters it's not only climate change that determines whether or not people are vulnerable and at risk it's also to do with people's development status equality entitlements, institutions that are functioning and so on this is a map of the world that shows in different colours the observed impacts in blue in physical systems in green in biological systems and in red in human and managed systems and this also demonstrates at that first point that impacts are being seen around the world in not only in physical and biological systems in human and managed systems as well I don't have time now to go into this in detail but it does show that climate change really is no longer an issue of the future something that we need to be concerned about because in the future we might have some impacts the relatively benign warming that we've seen over the past 100 years or so of 0.8 degrees we already are seeing impacts around the world so what do we know about adaptation and what observations on adaptation do we have first of all yes we know from not only experience also from the academic literature that increasingly adaptation is being considered as part of planning, national planning but also sectoral planning and at more local scales but yeah that's exactly governments that are planning but I should say responding is still relatively limited where is this I need to go back yes adaptation is becoming embedded but with more limited implementation of responses so we're still sort of stuck in the planning phase we understand that impacts are important that risks are such that we need to be prepared for them and documents are being prepared to see how we could incorporate those and how we can plan for adaptation but the implementation is still relatively limited and what makes it complicated is the fact that adaptation isn't the only thing that matters it isn't the only thing that is needed as far as policymakers are concerned and there is uncertainty was about the impacts some impacts are more certain than others level rise at least the direction of the sign is clear we look at changes in rainfall patterns there may well be seasonal differences some models suggest an increase in some parts of the world others a decrease in other parts of the world and there may be other uncertainties around that and of course there are also limits to adaptation and we can talk more about that in a minute it also makes the point not only here but in other parts of the report as well that the effectiveness of adaptation very much depends on the extent to which mitigation happens or does not happen if mitigation in other words reducing greenhouse gas emissions is not effective over the next few decades and the likelihood that adaptation is no longer able to reduce impacts to a reasonable level increases these are maps from the working group 1 report on the science of climate change where on the left you see a very optimistic scenario of greenhouse gas emissions over this century and temperature increase as a result of that and on the right you see a more pessimistic scenario the IPCC does not attribute or attach any probabilities to these it has two more that are in between these two extremes but it shows quite nicely the differences and that even in the most optimistic scenario the projected temperature changed by the end of this century in the higher latitudes already exceeds 2 degrees and the impacts that we've seen so far are the result of a 0.8 degree so far the more pessimistic scenario shows projected temperature increase of 4 to even beyond 6 degrees by the end of the century so clearly any idea of the notion of limiting global mean temperature change to 2 degrees a 2 degree target is one that can only be seriously considered under the most optimistic circumstances the most optimistic in terms of climate feedbacks and sensitivity but also the most optimistic in terms of actually reduce greenhouse gases so then there are, based on that, there are 8 key messages about future risks it's a little bit smaller because I tried to put them here on 8 but I think these are perhaps the most important messages of working group 2 is what kind of risks can we expect and of course the extent to which those risks the level of their risk materializes depends on whether or not we are in a high emission low emission pathway first of all the IPCC identifies risk of death injury, ill health or disrupted livelihoods in low-lying coastal zones in small island developing states or other small islands due to storm such as coastal flooding and sea level rise there is risk of severe ill health and disrupted livelihoods for large urban populations due to inland flooding in some regions systemic risks due to extreme weather events leading to breakdown of construction networks and critical services in fact some argue this is already happening occasionally like the big floods in Bangkok in Thailand in 2011 which led to big disruptions in world trade for some companies that was really quite problematic or changes in food prices as a result of droughts in some parts of the world where some would argue that civil unrest in North Africa was partly the result of drought in Australia and Russia now the IPCC doesn't make that connection because there is no evidence for that but some would argue that there is some correlation at least risk of mortality and morbidity during periods of extreme heat particularly in urban populations and those working outdoors again we know from the heat wave in Europe in 2003 that the impact can indeed be very high we also know that these impacts can be reduced quite effectively through adaptation risk of food insecurity and the breakdown of food systems linked to warming, drought, flooding and precipitation variability in extremes I mentioned that risk of loss of rural livelihoods and income due to insufficient access to drinking and irrigation water again the access to water is not only a function of climate change I don't want to go in detail about discussions of privatisation of water and the fact that some people are not entitled to water even though there is water where they live that all makes them vulnerable as well risk of loss of marine and coastal ecosystems biodiversity and ecosystem goods functions and services they provide for coastal livelihoods particularly the tropics and the Arctic and then risk of loss of terrestrial inland water ecosystems so this in a way is summarising a large part of those 3000 pages the 8 key risks that climate change could create or is in the process of creating now this is a picture from the third assessment report 2001 when there was already some idea of trying to visualise this notion of risk and how these risks emerge globally as a function of possible temperature increase on the left so the picture on the left was from then working group one and shows for different emission scenarios the expected temperature, global mean temperature increase so you can see that somewhere from 1.5 to close to 6 degrees and those 5 bars here is called the burning embers the burning ember diagram because the hotter it gets from 0 to 6 degrees the redder they become these are 5 reasons for concern so they are risks to unique and threatened systems risks from extreme climate events, distribution of impacts aggregate impacts and risks from future large scale discontinuities at the time it was particularly the slowdown in the thermohaline circulation that people were concerned about and you can see that some of these risks are already starting to emerge even with today's climate and as it gets warmer the colour changes from yellow to red and the 2 degree target was in part based on this assessment or at least the ideas underpinning this assessment this time around so 13 years later a similar exercise has been done so on the left again working group one showing now for two scenarios the same ones that I showed the maps of the optimistic and the more pessimistic emission scenarios showing more or less the same temperature increase from a little bit less than 1 to over 6 the same 5 reasons for concern but one thing you can see here immediately it's like the Australian newspaper that last year had to add another colour on its weather maps to show that it's actually hotter than it's ever been the risks are higher primarily because there is a better understanding of how those risks emerge and what they are dependent on and because some of these risks are already beginning to become visible so particularly the unique and threatened systems where ecosystems are now already facing a much greater impact than 13 years ago and the distribution of impacts are showing higher risks now than they did 13 years ago at the same time with 13 years later these risks actually emerging after 13 years of not very effective mitigation efforts is also higher so increasing magnitudes of warming increase the likelihood of severe pervasive and irreversible impacts that's the summary of that diagram that I showed the overall risks of climate change impacts can be reduced by limiting the rate and magnitude of climate change a logical conclusion from that diagram that the lower you are in this diagram the less the risks you will face then there are a number of other conclusions or findings about future risks that are with lower confidence not because well they are with lower confidence because the research on that is much more recent and this is where climate change is put in the broader context of other human priorities so on the issue of migration or displacement climate change over the 21st century is projected to increase displacement of people and that's medium evidence there is no quantitative statements here connected to that and in fact there are competing schools of thought who interpret the statistics differently climate change can indirectly increase risks of violent conflicts in the form of civil war and intergroup violence by amplifying well documented drivers of these conflicts this does not say climate change causes war it says climate change can indirectly increase risks of violent conflicts in those places where there is already instability such as caused by poverty and economic shocks climate change on the critical infrastructure and territorial integrity of many states are expected to influence national security policies in fact just I think two weeks ago the U.S. group of U.S. Army generals issued a report looking exactly at this issue so this is also showing that climate change is moving from just being an environmental issue to perhaps also being an economic issue to being an issue of security and conflict but at the same time the conclusions are presented with much lower confidence at the earlier ones that I presented throughout the 21st century climate change are projected to slow down economic growth, make poverty reduction more difficult, further erode food security and prolong existing and create new poverty traps so this I think is a very important message for those who say well climate change isn't really a priority because there are all these other things like poverty and so on that we need to look at nobody I think in the IPCC and certainly not me is disagreeing with that statement yes poverty is a priority yes food security is a priority but ignoring climate change would make it more difficult to address those issues as well then about risk management and this is where we get to adaptation and to perhaps for some also a bit frustrating conclusions about adaptation despite the fact that there were four chapters on adaptation in the report and there was a lot more literature the IPCC hasn't really been able to sort of demonstrate say best practices or identify the factors that determine whether or not adaptation can be successful first and foremost because adaptation displays in context specific what might work in Ireland might not work in Sweden what might work in Holland might not work in Bangladesh a first step towards adaptation to future climate change is reducing your current vulnerability that sounds like obviously trivial at the same time there are plenty of plans being developed to prepare to adaptation in the future without actually looking if we are sufficiently well adapted to today's climate poor planning over emphasizing short-term outcomes or failing to sufficiently anticipate consequences can result in mal-adaptation in other words it could actually make you more vulnerable than you already are and that's also again a message not only to the policy makers and government but to those responsible for implementing and planning adaptation often at the lower level of government greater rates and magnitude of climate change in other words a high emission pathway increase the likelihood of exceeding adaptation limits and this refers to the chapter that I led about adaptation limits and I can say a lot more about that but I think I've sort of gone through my time so I'll just very quickly finish by asking then the questions what does that mean for adaptation policy and to some extent also adaptation planning the one thing to keep in mind is that the IPCC never set out to present a guideline or a recipe for adaptation the IPCC that's the mantra for the IPCC even in the beginning the IPCC should be policy relevant but not policy prescriptive it cannot tell countries what to do or how to solve certain problems and the presentation of impact to working group 2 is of course informative to adaptation planning in the same way that it can also motivate or justify action on mitigation given the predominantly local to national nature of climate adaptation are these IPCC assessments even relevant to adaptation policy no matter prescriptive but does the IPCC meet its objective of being policy relevant when it comes to adaptation policy at the global level adaptation policy isn't actually so much about what are best practices it should be perhaps it is often reduced to how much money is needed and where would that money come from and what the literature is only beginning to explore now and hopefully in a future report of the IPCC this will be considered is the need for people, for organizations for boundary partners to sit between the IPCC and those that it aims to address I think the IPCC particularly when it comes to mitigation has a direct connection to those governments who use that information to negotiate climate policy when it comes to providing information to those who are responsible for developing adaptation activities or even for planning them or developing policy for them I think there is a gap there and that gap is one of knowledge translation and knowledge brokerage and I expect there to be a growing market and some organizations are already jumping in that market for organizations, for consultants to inform those interested in developing adaptation plans this is partly to do with how to interpret climate information or climate services in such a way that it becomes actionable to adaptation but it's also about linking adaptation within the broader context of development whether that is in a developing or in a developed country so these are really questions that the IPCC hasn't been able to address not because it didn't want to but because adaptation is still years behind mitigation when it comes to understanding what works, what doesn't work and how we set priorities. Thanks very much


Episode 8. The Green New Deal Disastrous economic interventionalist policies in the early 1900s helped spark a devastating global economic depression, starting in 1929. President Franklin Roosevelt came to power during this time and used the Great Depression as a justification to mount a progressive coup against the political traditions of America. It is with this same ambition that his successors in the Democrat Party have sought to leverage concerns about global warming and fossil fuels to wipe out what remains of the American market economy. While the Green New Deal label has been attached to a variety of policy proposals over recent years, all of them share several common characteristics. First, the cause of the environment and boosting alternative energy sources allows for a takeover of almost all aspects of the American economy. Agriculture, for example, must be regulated to limit the bioemissions of crops, cattle, and other livestock. Building equipment must be controlled due to its impact on energy demands. Transportation isn't only a multi-billion industry in itself, but indirectly impacts the employment of everyone in society. Of course, in the modern political environment, environmentalist concerns must also take into account intersectionality and social justice, incorporating race, gender, sexuality, and all the rest into proposals of job guarantees, subsidies, and other forms of wealth redistribution baked into the specific proposal of the day. How would such a Green New Deal be financed? As was the case with the New Deal, the answer is through debt and central bank inflation. In fact, the size and scale of modern proposals have resulted in a renewed interest in what is called modern monetary theory, which contends that governments are free to spend and print as much money as they desire. In practice, similar policies have resulted in hyperinflation and economic devastation in nations like Argentina and Venezuela. Another common feature of Green New Deal proposals is how obviously unserious they are about actually dealing with climate change and carbon emissions. And this is the problem. The underlying agenda of the campaign to radically shift away from fossil fuels is not to protect the environment. It is to reform almost every aspect of modern society for political gain. Given the foundational role that cheap, dependable, accessible energy has played in cultivating both human liberty and human thriving, defending the energy sources the world relies on every day is directly related to defending civilization itself.