If we want to taste an essence of what it means when we say Krishna, the consciousness that we refer to as Krishna, if we have to be touched by this, we need Leela. Here we are. That means it is the path of the playful. Krishna is supposed to be blue-bodied. Maybe he was dark-skinned, but people who are aware saw the blueness of his energy. Once a person raises beyond certain limitations of his consciousness, every thought of his becomes the will of God itself. Sometimes his lover, sometimes his God himself. He sticks his life out just to nurse six wounds on somebody's back. Now he is willing to take hundred thousand lives with a smile on his face. So Krishna did not choose Arjuna. At last he found one guy, willing to sit through the whole eighteen chapters. When it comes from Krishna, it is genuine and true. If somebody else just parishes these words, it is utter falsehood. Through this whole drama of all the people, Krishna is going through the maximum amount of drama, but untouched. Because he said, yoga stahakuru karmani. That means first establish in yoga and then act. Not a miracle maker, he is a miracle himself. Don't miss the miracle. In you appreciating his sense and intelligence and activity, don't miss the miracle. That's the most significant aspect of him. Only because he is such a miracle. That type of life he lives.


Hello and welcome to the week ahead video with me David Madden, today's date is Friday the 9th of November 2018 and the time has just gone 11.45 GMT. Now this is the week ahead video so we are looking ahead to the week which begins Monday the 12th of November until Friday the 16th of November and it's very much going to be a sterling British pound focused week. What we've had this week, we've had continued on this certainly around my Brexit so no kind of real news there. The Democratic Union's party, the DUP of Northern Ireland continue to be unhappy with Theresa May. They essentially want a zero difference between Northern Ireland and Great Britain post-Brexit where it kind of seems like Theresa May could potentially look to actually have a border, a trade border down the Irish Sea which of course would not make the DUP very happy. We've had some economic indicators out of the UK this week and they haven't been too great. The services PMI numbers at the beginning of the week fell to a seventh month low and some of the some of the property and house price figures from the UK this week were also very disappointing. So next week the big numbers to watch out for in terms of British economic indicators oh sorry it's also we're pointing out that today we heard from the UK the economy grew by 0.6% in the third quarter in line with the X estimates so at least there was actually some some decent news in there as well. Looking head to next week on Tuesday Wednesday we've got some important economic indicators from the UK. We have inflation and we also have the unemployment and wage numbers. To be perfectly honest unemployment is a multi decade loads, multi decade lows in the UK as any kind of slight change either by 0.1% in our direction it's going to make a whole lot of difference. It's really going to be about the inflation figures and also the wages figures. Recently inflation dipped to 2.4% and the most recent wages figures excluding bonuses show that the earnings actually increased or increasing by 3.1% so the increase in wages is outstripping the cost of living which gives workers a real pay rise. And while that while there continues to be a very sizable difference between earnings and inflation that's going to benefit the British work and British consumer and when British consumer has more money in the pockets the more money they can spend more and that's what I should drive the economy along. Taking a look at what potentially we could see on the back of this any kind of potential moves take a look at pound versus the US dollar. Sterling has been between April and August it's starting to take a fairly decent decline against the US dollar. A stage of recent comeback between mid-August and late September but once again we have seen a fairly sizable sell-off but notice how the lows of November failed to take out the lows of August first of all. And the second one we've got a fairly decent rally here. While we remain north of the 130 mark it's likely we could see further ground being made on the pound versus the US dollar. That being said it's also a bit worrying that the highs of November here haven't taken out the highs of October so this is a series of lower highs which would point to a potentially further losses. Like I said if you manage to hold above the 130 mark you could see further gains being made. And if you do manage to hold above 130 and we can push higher we could be likely heading up towards here the one spot at 3250 region and then if you go beyond that you could be looking up towards this area here the highs of late of September which is just shy of one spot 33 and if you go beyond that you could be looking heading up towards the highs of mid-July which come into play at one spot 3361. If the market does turn over on itself yet again and start to push lower we could be looking heading back down towards the late October lows and if you go south of that we could be looking heading back down towards the August low of one spot 2661. Take a look now at what's going on on euro sterling. So euro sterling has been a fairly decent decline since August hasn't been exactly quite perfect example of higher highs and higher lows we have seen some decent bounce backs but actually this morning we actually went fell to a 7 month low on euro sterling so it's an indication of what we're looking at and if the market is going to turn over trend since August does continue to kind of push on we could be looking heading back down towards heading back down towards this area here in late April at zero spot 8680 and if you go south of that you could be looking heading back down towards the kind of mid-aprilows of zero spot 8620. Any kind of any kind of bounce backs in euro sterling may run into resistance in around the zero spot 88 area. It's quite cool that she acted as both support and resistance not too long ago and then also if you go beyond that we're looking at heading towards the utility moving average this red line here which comes into play at zero spot 8836. Once again notice how she acted as very decent support and resistance not too long ago and if a metric or a level has been important in the past it makes it all the more likely it'll be important in the future. It's only if we actually take out this high here in late October which comes into play in at a zero spot 8939 but 8940 should they actually be kind of could then we start to think that the downward trend since August is actually no longer actually intact. Now if we're going to talk about the British pound we also may as well talk about the FTSE 100 and sometimes there can be an inverse relationship between the two so obviously a strong pound could have the FTSE and a weak pound could actually benefit the FTSE. So the chart I want to look at is a weekly chart on the FTSE 100 and the reason I want to look at that is because I want to look at this red line here the 200 week moving average. It was a very very decent metric and it has acted as very decent support in the past granted we didn't manage to trade below it in mid-October but in late October we closed firmly above it and we've been above it since granted the highs in November haven't yet taken off the highs of October so you know the sentiment is still is reasonably bearish but ultimately while we hold above this level here the red line here at 69 61 it's likely we could see further gains on the FTSE 100 and if you do push up on higher here we could be looking back down towards the early up to September lows within around 70 to 20 70 to 30 this area here. Conversely I'll move back below the 200 week moving average will be quite bearish and if you manage to take out if you manage to take out the March lows which come into play at 68 68 30 39 we could be looking back down towards levels not seen since November 2016 it's nearly two years ago at 66 78. Looking at what else we have next week on Tuesday we have first-time figures in Vodafone on Tuesday Wednesday we have a number of real estate investment trust companies reporting the figures land security first-time numbers British land first-time numbers and workspace first-time numbers. On Wednesday we have economic indicators in China we have retail sales fixed asset investment and industrial production on Wednesday and Friday we have Eurozone GDP and CPI and also on Wednesday and Thursday we have US inflation and US in retail sales. If you have any comments on this video or any of other videos we've made here at CMC markets please feel free please feel free to leave review on google reviews and that's all for me this week thank you very much


it is six o'clock and I will call the 20th regular Common Council meeting to order will the clerk please state the court of the day thank you mr. Mayor the most powerful leadership tool you have is your own personal example all right thank you would the clerk please call the roll all the person Salazar all the person Walton all the person Feldy all the person Ackley excused all the person Decker all the person for Ella all the person Laster excused all the persons of Aglio all the person Flickie Pineski all the person Mitchell there are eight present thank you for those in attendance would you please stand for the Pledge of Allegiance I pledge allegiance to the flag of the United States of America and to the Republic for which it stands one nation under God indivisible with liberty and justice for all right thank you everybody first item number three is approval of the minutes from our January 4th meeting older person Feldy I moved to approve the minutes there's been a motion in second any discussion on the minutes seeing none all those in favor of approving the minutes please state aye anyone opposed minutes are approved anyone for public form today clerk there's no one this evening all right mayor's announcements coming up the Sheboygan County Housing Coalition will be hosting several Town Hall meetings in the next coming weeks the first of the series will be on January 20th check out the Housing Coalition's Facebook page or the city's January newsletter for more information and to register this is a great way to get connected with the community and stay in the know with everything related to housing in the community coming on up Lake Shore Cap will be having their biannual point-in-time homeless count on January 26 and 27 the point-in-time count is conducted to help identify services needed in our community in order to best help those without housing twice per year dedicated community members volunteer in search of the counties for individuals who are unsheltered in an effort to connect those individuals to resources volunteers are needed for shifts between 11 p.m. and 6 a.m. obviously training will be provided contact Lake Shore Cap if you're interested in volunteering also the redevelopment authority of the city Sheboygan is seeking a unique year-round destination concept to redevelop the former JP Marine site proposals are being accepted to either lease or purchase this prime real estate parcel located at 1511 and 1517 North Commerce Street the site offers a unique opportunity to create and innovate a sustainable development immediately adjacent to the riverfront contact our planning department if you have any questions also a friendly reminder that TPW or public works department will be collecting Christmas trees until now until the end of January so if you have any live trees or dead trees get them out to the curb by the end of the month additionally today is Martin Luther King jr. Day today we celebrate this national holiday to honor the life and legacy of Dr. Martin Luther King who was a tireless fighter for civil rights we honor Dr. King's legacy and reflect on all the progress that we've made in our society and recognize that we still have so much more work to do to become a more just society so that's all I have for announcements today so we'll jump into items number seven through nine the consent agenda older person Feldy I moved to receive and file all our owes and receive all our seeds and adopt all resolutions and ordinances second motion second any discussion on the consent agenda seeing no questions on the consent agenda this is a roll call vote so please refer to your uni code eight eyes great that's approved item number 10 is our own number 1921 22 by the city administrator submitting an updated regarding the debt services account required by the US Department of Housing and Urban Development for the city section 108 loan for renovations for the senior center older person Feldy I moved to receive and file the arrow second it's been a motion second any discussion on this item older Walton yeah just a quick question why was the requirement changed from 350,000 to 415,000 was this something that we knew or that housing development informed us later on hand it over to director Paul check what I would say is we did not know it they told us the number originally 350 and when we were getting down to the nitty gritty of filing all the final paperwork then they said 415,000 so we thought we were at the third hole and we were ready to get it done so we just move forward with it and that's why it's coming back to you after the fact but the all the paperwork has been submitted and we're hoping to get a our first wire transfer next week so they hot is the one that imposed the higher amount additional comments on this item seeing none this is a roll call vote eight eyes it's approved items 11 and 12 will lay over items 13 through 15 will be referred to the licensing hearings and public safety committee jumping down to resolutions item 16 resolution number 123 21 22 by older persons Feldy and flaky Pineski ratifying retaining outside legal counsel in the matter of Patrick a Gillette a formal complaint filed with the city sheboygan police and fire commissioners older person Feldy thank you mayor I asked us to suspend the rules any objection to suspending seeing none please proceed with the motion I move to adopt the resolution is there a second there's been a motion second any discussion on this item older persons of all I owe thank you mr. Mayor can we have a little bit of background on this please city attorney you want to take that one yeah so we are hiring outside counsel because our office represents the police and fire commission and when there is a complaint that involves police officers in the line of duty or you know other fire fire department officers would be involved in that as well we do have the duty to find them legal counsel to provide them legal counsel as it relates to their what they've done in the line of duty and so we have done that we needed to get that going rather quickly so we did hire outside counsel to do that that's attorney Belcher who does that kind of work for us on a regular basis thank you older person Perala can the complaint be disclosed at this time yeah the complaint relates to he disagrees with the way the police handled an investigation basically I mean I can go into more if you want but if you're looking for more so it's an investigation that the police department was conducting and and these individuals not in agreement with that but it is not something related to the police officer himself the way that the police officer conducted himself well the complainant believes that the officers involved should have charged crimes the determination of the police department was that no crime was committed okay thank you it's enough for me any additional questions on this item seeing none this is a roll call vote older Perala eight eyes right that's approved number 17 RO number 124 21 22 by all the persons Felde and flaky Pineski ratifying and retaining outside legal counsel in the matter of Chad Shelton formal complaint filed with the city of Shavuigan board of police and fire commissioners older Felde thank you ma'am I asked to suspend the rules any objection to suspending I moved to adopt the resolution motion and second any discussion on the site of older Perala I have the same question I would like to know if the complaint is about the policemen the police officers behavior or something specific to the police officer in question so this one I generally the answer is yes that he mr. Shelton has made sort of a scatter shot complaint complaining about the way he feels he's been treated by the police department over the past three decades or so and has named a large number of officers there was an investigation the police department in that investigation exonerated all of the officers involved and now this is his hearing before the police and fire commission on his appeal of that thank you additional comments on this item police chief I would just point out that some of the allegations that he's made concern matters that have come in front of committees of this council that the council upheld the actions of the police department and he appealed those matters also to the circuit court and the circuit court upheld those thank you chief Tom Augusti additional comments questions alright seeing none this is a roll call vote eight times it's approved item 18 will be referred to the licensing hearing and public safety committee next we'll do reports of committee RC number 19 RC number 202 21 22 by the finance and personnel committee to whom was referred direct referral resolution number 1 22 21 22 by older person special inflicted penesky authorizing the purchasing agents to issue a purchase order for the purchase of the new Pierce manufacturing rescue engine for the shabuaga fire department older person Mitchell thank you mayor I moved to receive the RC and adapt the resolution there's been a motion in second any discussion on this item seeing none this is a roll call vote eight eyes that's approved alright number 20 will be referred to the public works committee and next is a contemplated closed session older person Feldy thank you mayor I moved to convene in closed session under the exemption provided in section 19.851 e Wisconsin steps work competitive or bargaining reasons require a closed session for the purpose of negotiating with one or more property owners regarding the potential purchase of land on the city's southern border for residential housing. There's been a motion in second to go into closed session this is a roll call vote please refer to your moony code eight eyes all right and those that are watching this will conclude our council meeting we'll be convening into closed session in a couple minutes here so thank you and what we could stay here today if you've got to go


Hello everyone and welcome to another romantic quick tips. Today we are building something rather funky and cool. I have actually built one of these before and I love building these things. These are awesome. So these are the Vim in Tunnelar. It's a quite, it looks a lot of pieces but it's quite a simple kit to put together. I always put the drills around the wrong way so please please please please be nice because I always put them on wrong. Which we did in the picture when we actually made them as well. So there is no right or wrong. If it looks cool just do it. Okay so the first part we're going to start with is the main body. I need our trusty plastic glue for this one. There we go. That's the main body of it done. Okay the next part we're going to want are these little side panels. They are a fairly good fit so I probably don't need to glue these in. So put the back on. It's a fairly strong join but let's just glue them in. We want this little track section and then the next part we're going to want are the little tracks for its feet.  I don't think we're going to need to glue that one in. The next part we're going to need is this part here and this part sits on the front and again my snug fit I don't think we're going to need to glue that one. Okay now we have a decision to make. So these three bits here these hold our drills in so let's just clean these parts up. Get rid of any sprue from them. Now we have a choice to make. So there you go with our drill. There you have the front nose. Now we've got these pieces here. So this piece sits on the front and then we have a choice of open door or closed door. I have really built a closed door one. What do you think Matt? Open door. What's cool about the open door one is that we can put a really big gun in that. I know you would have just chose the open door one wouldn't you? So yeah you can actually get one of these in and it sits in. Just like that. Which is cool. I've not built one with a gun on so it's a good choice. Right. So here is the moment of truth. Well I get these around the right way and they're just going to clip into this bit. I'm just going to flap around a little bit and then we bring this part in. That's where our drill is going to be mounted and then we've got a really big gun. And then this part sits in the front. So these little bits here we're going to glue in top and bottom down here. Trusty plastic glue. Okay for this next part we're going to attach the drills. So we're going to need super glue for this one. As these parts are PVC. That we're nearly done. One more piece to do which is that these little thin parts of the front. Just give these a bit of a clean up and these pieces are going to go somewhere. They're just going to go on the bottom here just there. Get some super glue for this one. Just slide it on and then this one. And with that it is done. I'm ready to carry your Learman into the battle. So thank you very much everyone for watching. Please like, comment, subscribe. Let us know in the comment section below what you want to see next and we'll try our best to do it as quickly as we can. Until next time, bye.


J-T-L-L-O! The Jell-O program brought to you by Jell-O and Jell-O Pudding, starring Jack Benny with Mary Livingston, Phil Harris, Dennis Day, and yours truly, Don Wilson. The orchestra opens a program with Be Young Again. It's new, it's better than ever. It's the new, better than ever, Jell-O. Now made even more delicious by Jell-O's wonderful locked-in flavor, a flavor that is locked right inside Jell-O's crystal-like particles where it can't escape. No need to be afraid that your Jell-O's and dessert will leak flavor while waiting to be used. When you open the package, you can be sure that every last luscious bit of Jell-O's grand goodness will be right there, untouched by time, unchanged in any way. By means of a new Jell-O process, all of Jell-O's full vivid flavor is held captive in the tiny Jell-O particles, locked there till you dissolve the particles and let their rich flavor pour out into a swell dessert. So get several packages of the new Jell-O tomorrow, friends, and see what a big difference Jell-O's locked-in flavor makes. In Jell-O, the flavor never goes away. We put it in and it's there to stay. Let's be young again, played by the orchestra. And now, ladies and gentlemen, there being only 24 shopping days till Christmas, we bring you that 24-carat comedian with a heart of gold, Jack Benny. Um, Jell-O again, this is Jack Benny talking, and Don, that was very sweet of you. Gee, I'm a 24-carat comedian with a heart of gold Would you like my introduction, Jack? Yes, in fact, if I was an imbecile, I'd fall for it. Every year at this time, you give me that same hooey.  If you get what I mean. Well, maybe so, Jack, but Christmas will soon be here, and you know the old saying, a word to the wise is sufficient. Don, here's another saying that's not quite so old. Don't count your presence until Benny gets off the nest and crackles. But, now that the subject's come up, what would you like for Christmas, Don? Something for the house or something personal? Oh, anything at all, Jack. But I do hope it's more practical than what I got last Christmas. Oh, I've forgotten, Don. What did I give you last year? A saran. A saran? Oh, my goodness, then I must have given Dorothy Lamour your present. Oh, no wonder she hasn't spoken to me since. Won't you give her, Jack? Oh, Don, I'm so embarrassed, I can't say. Oh, go ahead, what was it? Well, Don, you know how you were gaining weight last year? Uh-huh. So Dorothy got a 54-inch girdle. And Don, here's a payoff. When you pull the zipper, it plays, why don't we do this more often? No kidding, isn't that? I kind of surprised you there, didn't I? So really, isn't that awful? Hello, Jack, what are you blushing about? Mary, I just found out that by mistake last Christmas, I gave Dorothy Lamour Don's girdle. Can you imagine that? Well, don't worry, she probably thought it was a hammock. Yeah, I never thought of that. Say, Jack, I want to get one thing straightened out right now. What? Before I buy your Christmas present, what are you going to give me? Well, that's a fine spirit. Mary, half the pleasure of getting Christmas presents is a surprise. Oh, sure. Remember how thrilled you were last year when I gave you that brand-new Plymouth? You gave me a ticket on a Plymouth. All right, I was just as mad as you were when you didn't win the drawing. Just as mad. Madder, you wanted Congress to investigate. Well, what are they down there for? Anyway, I'm not going to tell you what I'm giving you this Christmas. Well, give me a clue. Is it big or little? Oh, it's not so little. Well, is it heavy or light? Oh, medium. Well, do you wear it or eat it? Well, you can wear it or you can eat it. Jeepers or rabbits? Never mind. Hey, Mary, have you got Jack's presents all picked up? I sure have. What are you going to give me, Mary? Well, Jack, you know how crazy you are about swimming. Yeah?   I can go along with a gag, sister. You know me. Say, Mr. Vinnie, you know what I'm going to give you for Christmas? Oh, hello, Dennis. Hello. What are you going to give me for Christmas, kid? Is that what I said? Yes. What are you going to give me? Oh, well, you've been so nice to me, Mr. Vinnie. I'm going to give you a brand new photograph of myself. Hmm. A photograph, eh? Yeah, and I'm going to write on it with gratitude from your tenant, Dennis Day. Hmm.  Put a frame on it. Well, I'll have to think it over. You better not. That's how Kenny Baker happens to be with Fred Allen. See, you're hot today, aren't you? You said it, huh? Why, Jack, I understand Kenny left you because Allen offered him more money. Well... I wouldn't leave you for more money, Mr. Vinnie. Well, thanks. I wouldn't leave you for all the money in the world. Well, thanks. Heh. Thanks very much. You are my dream man.  Never knows when to stop. And furthermore... Hiya, Jackson. Boy, are you lucky I'm here today. Oh, hello, Phil. What do you mean, lucky? Well, me and the boys were playing down in San Diego last night, and my fans just wouldn't let me go. You mean you went over great, eh? Great! Jackson, would you believe me if I told you we turned away over 10,000 people? No, I wouldn't. Oh, you see, Frankie, I made it too big. You certainly did. And on our way back this morning, we played Laguna Beach, Steel Beach, and San Pedro. Now, hold on, Phil. There are no ballrooms open at that time of the day. Who needs ballrooms? They've got street corners, they think. What? You play street corners? Sure, we get out of the bus, give out a couple of tunes, and take whatever the people drop in the house. Hmm, well, that's a great system if you're not too proud. How'd you do in Steel Beach, Phil? Oh, terrific. We got 20 dimes, 8 quarters, and 15 halibut. Halibut, hey, that's my favorite fish. Speak to the piano player, 22 cents a pound. Oh, you've got the fish and the piano, eh? Well, this'll be the first time Charlie will be able to play a scale. Say, Dennis, I was wondering what was... I was wondering what was dripping out of the piano there. Say, Dennis, how about a song? Who, me? No, my Aunt Molly. Now, let's have your song. Okay. Wait a minute.  Ice? Yeah, but just dump it in the piano. I've got to keep them fish cold. Well, if that isn't the most... Phil, what's the matter with you? That'll ruin the piano. Sign. Phil Harris and his orchestra. It's the fish that smell, folks. Just protection. Sing, Dennis. The guy's been with me five years and wants to charge me 22 cents a pound. Hey, Dennis. Excellent, Dennis. And now, ladies and gentlemen, for our feature attraction this evening... Say, Mr. Benny. What? Have you seen those bamboo frames they've got for pictures? They're very novel. I don't want a bamboo frame.  I want a nice, heavy silver frame. Not too heavy, Jack. You'll have to take a cab to the hawk shop. I'm not going to hawk it. And now, folks, as I started to announce, this evening, this evening, we are going to present our version of that immortal drama, that outstanding Metro-Goldwyn-Mayer production, Dr. Jekyll, and Mr. Hyde. Thank you, boys. You can go back to the Samaritan Institute. Now, in this epic, in this epic, I will play Spencer Tracy's part, the dual role of Jekyll and Hyde, Dr. Jekyll, the kind, gentle, lovable character, who, after taking a certain powerful drug, changes into Mr. Hyde, the fiendish, horrible maniac. Gee whiz, Jack. That's pretty hard to do, isn't it? Yes, especially Mr. Hyde, but I'll be all right. I was rehearsing out in the hall before the show.  Was that Mr. Hyde? I thought your feet hurt. Mary, my feet killed me, but not that much. Now, let's see. Oh, Jack, here comes your gag, man. Belly laughs Barton. Oh, yes, yes. Hello, Belly. Hello. Did you send for me, Grandma? Yes. We're doing a play tonight, and I want you to act in it. What do you... Listen, Belly. Hmm. Now, listen, Belly. You've got a three-way contract with me, writing, acting, and publicity, man. You know that. Publicity, man? Yes. What does he do? Draw your picture on census? No, he's supposed to get my name in the paper. And incidentally, Bill, will you please stop selling fish during the program? Now, please. Well, that lady in the first row wants some. Madam, you'll have to wait until after the show. Belly. Belly. I have to get him another name.  By the way, did that rabid gag get a laugh? Always all right, but you'll have to do better next week. Well, maybe Miss Livingston didn't put the gag over. Maybe she didn't sell it. Listen, Junior, I punched my brains out on that gag. Mary, leave him alone. Writers don't grow on bushes. Sorry, Belly. All games are a lot. They're always beefing. Always beefing. Yeah. You said it. Man's best friend is his dog. Ah, folks, what other program takes time out from the Hulcum to bring you such pearls of wisdom? That reminds me. Say, Pearl, why don't you go down to the neighborhood grocer and ask him for a package of jello? Whose pearl? My cook. Oh. She knows the jello has a few locked-in flavors. Oh, oh. Goodbye, Pearl. Hmm. Well, John, you're certainly quick on the trigger tonight. Now, getting back to our play, folks, this will go on immediately after a... Well, take off that rubber apron. It's time for a band now.  Okay, Jackson. What a guy. Dennis, remember, that bamboo frame is out. In the air by John Philip Harris.  We're listening to that song just now. Well, I hope they enjoyed it. And now, ladies and gentlemen, for our play, Dr. Jekyll and Mr. Hyde. Take it, John. The opening scene, ladies and gentlemen, takes place in Dr. Jekyll's office in early morning. As the curtain rises, we find his two secretaries seated at their deaths. Curtains, music. Dr. Jekyll's office. This is the secretary speaking. No, but I expect him any minute. Thank you. I'll tell him. Goodbye. Oh, Mr. Hyde's office. Secretary Hawkins. Now he isn't in if he wants heaven to help you. Dr. Jekyll is himself today. Not that horrible, Mr. Hyde. Well, I hope he is Mr. Hyde, so he'll think I'm beautiful. Here he comes now. Ah, good morning, Ms. Jones. Good morning, Dr. Jekyll. Are there any messages? Yes, doctor. Mr. Allen called and said he couldn't pay his bill. Mr. Allen? Well, you tell Fred not to worry about it. Any time at all will suit me. You see, Ms. Jones, the poor boy doesn't earn much on the radio. He gets paid by the last, you know. Anyway, don't press him for the money. All right, doctor. In fact, Ms. Jones, just tear up his bill. See how sweet I am, folks, before I take the drug? Hmm? By the way, doctor, there's a patient in the waiting room. He's very anxious to see you. All right, send him. Ah, good morning, young man. Good morning, doctor. My name is Fingerwave. Otis J. Fingerwave. Sit down, Mr. Fingerwave. What seems to be the trouble? I've got a terrible affliction, doctor. I walk in my sleep. You do? How often does this occur? Every night. Every night I walk in my sleep. Hmm. Well, where do you live? All over. That's too bad. Well, look, young man, there really isn't a cure for your condition, but as long as you're here, I'll check you over.  Come on, say ah. Ah, ah, ah, ah. Hmm, that'll be $2. Next. Next patient, please. Next. Can I try for the $4 off? No, that'll be all, young man. Goodbye. Goodbye, doctor. Anyone else, Miss Jones? Oh, yes, Dr. Jekyll. Miss Carol Lumbard just called and wants you to come over to the house right away. Carol Lumbard? What's wrong with her? She's making a picture with Jack Benny, and she can't keep a thing on her stomach. Kay Francis had the same trouble. I'll run over later. Oh, doctor, your new boy is here. Oh, Johnny? Hello, Johnny. Hello, Dr. Jekyll. You want a paper today? Yes, yes. Here you are, sir. And here's a dollar. Keep the change. Gee, a $0.95 tip. Thanks, Dr. Jekyll. That's all right, Johnny. I'll be back later, Miss Jones. Wait for me. Will you, my dear? Yes, doctor. Gee, he's a sweet man. It is midnight, and we find Dr. Jekyll returning to his office after a busy day calling on his patients.  And goodness, look at the hour. Miss Jones? No, but Mr. Fingerwave came by a few moments ago. Oh, was he walking in the sleep? I think so. He had a do not disturb sign pinned on his pajamas. Well, he must get his rest, you know. Miss Jones, I've had a very bad day, and I'm frightfully tired. Can you give me a glass of water, please? Yes, doctor. And have you seen my powders around anywhere? Oh, here they are. Yes, my powders. Oh, Dr. Jekyll. Dr. Jekyll, please don't take those powders. It's all right, Miss Jones. Don't worry. But, doctor, you know what they always do to you. Please don't. Quiet, Miss Jones. Quiet. There. Please, please don't take that stuff again. Oh, Dr. Jekyll, Dr. Jekyll. It's all right, Miss Jones. It's all right. Get back to your desk before I break every bone in your body.  Where's my other secretary? Here I am.  What have you been? None of your business.  So you can't pay that bill, you owe me, eh? Well, you get that money here by the mile of money, or I'll put your adenoids back in. That's all. Oh, it's you. You want a paper, Mr. Hyde? Yeah. That'll be five cents. Take it out on that dollar I gave you when I was Jekyll. Hand over that chain, or I'll kick your teeth out. I'm going out for a walk now. A nice, long walk. And before I come back, someone will be dead. Murgers. Murgers. And it may be that fish peddler. Team three. Dr. Jekyll's office the following morning. Yes? Yes? I'll tell him as soon as he comes in. Goodbye. Good morning, Dr. Jekyll. Boy, have I got a hangover. Uh, any calls, Miss Jones? Yes, doctor. There's a gentleman waiting in your office. Thank you.  I got to go back to liquor. Those powders are killing me. Oh, well. Good morning, sir. Good morning, doctor. My name is Beaumont. Tex Beaumont. Tex Beaumont. That name is familiar? What can I do for you? Well, doctor, I'm in a horrible predicament. You see, I'm a cowboy actor, a star in Western pictures. But unfortunately, I work very little. Yes, yes? Go on. The reason for that, doctor, is my speaking voice. My voice is much too beautiful for a cowboy. Uh-huh. In fact, I'm not at all convincing. Even my horse laughs at me. Well, that is unfortunate. But I don't see how. But you must help me. You must.  No one's a-believing it. Well, as I say, Tex, I'd like to help you. But I'm afraid changing your voice is a little out of my... out of my... Hey, wait a minute. Maybe I can help you. You see this powder here? Yes. Or by mixing it with water, an unusual thing sometimes happens. It may even help you. Doctor, doctor, what are you doing? I'm not going to take it. Not the way I feel. Now, Tex. Yes, doctor. I want you to drink this. If they change your voice, your personality, maybe your whole career. Oh, doctor. I don't know how to thank you for what you're... You can thank me later. Drink. Drink. Drink it all. That's it. Now, just a little more. Good. He's twitching. Now, Tex, how do you feel? Tell me. How do you feel? Well, to tell you the truth, doctor... What was that? Say that again. I beg your pardon? Quick, quick, drink some more. Oh! Well, Tex, you sound like a real cowboy now.  Don't worry. They'll stop growing when they reach your chest. Okay, thanks. Voice was strangely familiar. I wonder if it was... Oh, no. It couldn't have been playful. Friends, make this test. First, open a box of the new Jell-O and smell it. Notice there's no sweet fruity odor, no telltale aroma to warn of escaping flavor, because Jell-O's delicious flavor is locked inside the Jell-O particles, where it can't leak out. Second, put a few of these magic Jell-O particles on your tongue and taste them. Notice how moisture unlocks their glorious flavor and lets it gush out, just as it does when you dissolve the Jell-O in a dessert. Third, actually make up a dessert and see the wonderful richness that Jell-O's locked-in flavor gives it. Try Jell-O's peach and banana mold. Make up one package of lime Jell-O, as you usually do. Then arrange one half cup of canned sliced peaches on the bottom of the mold and pour the Jell-O over them. Slice the banana into the Jell-O and chill until firm. And there you'll have the final proof of how extra good a treat like this can be made with Jell-O's locked-in flavor. Remember, Jell-O is different, because Jell-O gives you all the flavor, always. This is the last number of the ninth program in the current Jell-O series, and we will be with you again next Sunday night at the same time. Ladies and gentlemen, I would like to announce that the man who sounded like Andy Devine on tonight's program was Elliot Lewis and Andy Devine. See how I clear things up? Good night, folks. Oh, Phil, at 19 cents a pound, no use getting stuck with him. This is the time of year, folks, when pies are most popular. So why not serve a delicious pie as one of your desserts next week? Try a banana cream pie made the quick, easy, and expensive way with Jell-O vanilla pudding. This grand pudding makes the smoothest, creamiest filling you ever saw. And when you blend it with sliced bananas, well, there's just nothing better. So tomorrow, when you order Jell-O, ask for Jell-O vanilla pudding, as well as those two other Jell-O puddings, chocolate and butter starch. Jell-O puddings are just like grandmas, only more so. This is the National Broadcasting Company. K-F-I, Los Angeles, Earl C. Anthony, Inc.


United Nations heroes arrive in New York to help launch a nationwide drive for the sale of war bonds. Up Broadway, men of England's RAF, men of America's Navy, men who have met their enemies and defeated them, respond to the cheers of New York's millions. Eager for a glimpse of the men they've read about, enthusiastic thousands gather in City Hall Plaza. The triumphal procession roars its way uptown. In its most uproarious reception of the war, New York pays tribute to fighting men of the United Nations. The motorcycle dispatch riders for the U.S. Army, one of the toughest, most grueling courses in the service. After six weeks of basic instruction, they send them on cross-country trips like this. Big test for men and machines, they take the bumps in high gear. Now they're real veterans of the saddle. Bomber plant is rolling. Henry Ford welcomes British and U.S. war supply heads Oliver Littleton and Donald Nelson. The schedule, one bomber every hour. Second stop on their tour of inspection is the assembly line of a huge tank plant. Six months ago, sleek, shiny automobiles were rolling through the grounds. Today, grim, heavy weapons of war are being readied for service at the front. In Washington, China's foreign minister, T. V. Sung, concludes a lend-lease agreement with Secretary of State Hall. China will get more and more tanks and bombers to help Generalissimo Chiang Kai-check. America promises all aid to her gallant eastern ally. On the Pacific Coast, workers in a bomber plant get a visit from America's hero of the hour, General James Doolittle, the man who led the first United States bombing raid on Tokyo. Addressing the men who built the ships that rained bombs on Japan, the general said, thanks for some great airplanes. Traditionally, a maritime nation mobilizes its mechanical and its industrial genius to build the largest fleet of cargo ships ever to sail the seven seas. The method is unique in all the annals of shipbuilding. Ordering prefabricated ready-made parts from some 500 factories scattered throughout the country, the yards apply mass production technique, and the results are breaking all records. Average time to build a ship during the First World War, 11 months. Record time, seven and one half months. Now they're completing them in 46 days. Free of production, the nation celebrates Maritime Day with a mass decoration of merchant seamen. In New York, Merle Guardia awards medals to men who have been victims of Axis submarines off the Atlantic coast. There's no downing the spirits of these brave sailor men. Torpedoed two and three times, they're ready to sail again. Dairy ships, they call them now. And there they go, eager for the sea. Two vessels are being delivered every day. Three a day by the end of the year. Recently in one 24-hour working day, 27 brand-new ships led down the way. Nowhere else in all the world is such production possible. The goal for 1943, 23 million tons of shipping. No sooner is one launched than they swing a new keel into place for another. Not a minute is wasted. Workmen working night and day, seven days a week to produce the ship's America's enormous war effort demands. Colorful Belmont Park dedicates its greatest day of racing to the Army Navy Relief Fund. 30,000 fans, including U.S. General Hugh Drum and Admiral Adolphus Andrews, head the host of servicemen here for the Big Turf Classic. The $53,000 Belmont Stakes. The nation's champion three-year-olds all the way together. Here's for the day. The crowd now sees their favorite Alsab running second. Shutout, the Kentucky Derby winner is in front and there to stay. No matter which one wins, America's servicemen collect the profits. That's a real sporting gesture. From 17 South and Central American nations, see an impressive demonstration of the United States' great air training program in action. 60,000 flyers every year. During defiance, this graduating class of young American Eagles are now ready to man the fighting ships of the Army and Navy Air Corps. Troops for the American Expeditionary Force in Australia. Armed convoys winning the game of hide and seek with enemy fleets to deliver the men and material to the land down under. Girls of the Army Nurses Corps, American women going to war fronts around the globe with the men. Here is a Japanese flyer rescued from the Pacific by an American sergeant whose own plane made force landing on the sea. The Jap was floating nearby in the wreckage of his zero fighter. The sergeant took him in tow and both were picked up by a passing transport. Once ashore, the Army Nurses make themselves right at home in this strange new world. At an advanced base, they take over a completely equipped hospital and dressing station. Overnight, medical and surgical facilities are established to care for the physical needs of the troops. The girls, all operated as officers and trained to rigorous Army standards, work long hours. But it's not all grim. At the local zoo, they meet Australia's famous Kuala Bears, seldom seen outside the continent. And Mr. Kangaroo jumps at the chance to meet some pretty American girls. U.S. anti-aircraft units report on the double quick to gun emplacements well camouflaged from enemy scouting planes. This coastal area has been hammered for months. Suspected prelude to invasion. But the American marksmen are ready and waiting. United Nations pilots take to the sky in fast fighting pursuit ships. These are the men who are defending the aerial approaches to Australia. And here's real action. Jap plane spotted. In a matter of seconds, the anti-aircraft crews are letting them have it.


Hey there guys, do you have a music channel in your mind right now? Don't worry about that because today we will be talking about how you can make your own music channel. But before we do that guys, you know what to do, like, subscribe, and gong that bell. Hey Freedom, my name is Nolden and welcome to Freedom Central, the homophobe of Freedom Content. Like I said a while ago, we will be talking about how you can make your music channel on YouTube. So guys, without any further chit chat, let's dive into the episode of Freedom. Quick tips. So you want to make your own music YouTube channel, huh? We got you. On today's episode, we will be giving you tips on how you can create your own music channel or if you already have a music channel, here are some tips that you can use to make content on. So guys, let's start the show. First off, let's talk about a simple video idea that you can make. Number one is lyric videos and art tracks. Lyric videos hype up people. I remember when the pop ghost punk lyric video came out to fruition, I loved every single song there was. It's a way for your fans to look forward for the official video. Also, it gives your fans a chance to sing along with the lyrics, flashing every time you sing out the words. Number two is teasers in samples. This is one of the most interesting ways to get your audience anticipate even further the full release of the song you will be creating. It gives them a sneak peek of what the video will look like once it is released. These are some of the simple things that you can do to make content on in your music channel. Next up is let's talk about content that will be really fun for your viewers. These kinds of videos can use a little bit of interaction with them as well. Number one is capturing behind the scenes footage. Capturing behind the scenes is a great deal for everyone because they will see what it is like behind the production of your videos. Who are the people behind the camera? Who are the people behind the shooting? Who are the brains behind the production or the video that you are shooting? Number two is Q&A sessions or maybe interviews. Interviews gives your viewers a chance to be next to you and have a better conversation with them. You will be able to get to know them more. It's another way to see what kind of music they want to hear, what they want to see and all of that jazz. So if you have time to make Q&A sessions with your fans or your audiences, that will be awesome. Grab the opportunity, get on the mic and start recording. Number three, sharing your tour moments. Let's say you have a big album now. Always make sure to share your tour moments. It's like an update for us. You give us what you're currently doing, how the tour is going and what kind of experiences you are experiencing and the stuff like that because we always want to have that insider feel when you're doing your tours or when you're doing your videos. Number four, brightening someone's day video. Cheering someone in your videos is one of the best content everyone can see on YouTube. It's like giving someone a pie when they are down and out. It also gives a chance to inspire other people. Majority of the artists around the world would want to spread inspiration and that is what music channels should do as well. In the first place actually when you want to make music, you want to inspire and connect to other people. Number five, find collaboration partners. These collaborations are the best way to make videos because your viewers get more variety and can watch more similar content. It is also another way for you to get a lot of viewers because you get the viewers of the one you're collaborating with and it's the same for him or her. All in all guys, collaboration videos is a win-win for everybody. Number six is music challenges. Can you do voice acting while singing? Like that video when someone was using Stewie's voice while singing Or maybe you can sing a song that is out of your vocal range. Try to spice things up. Try it out. Maybe you can do amazing things that you do not know yet. And also that would be good for you because the more you challenge yourself, the more that you can know what your strengths and weaknesses are. And that's the episode for today guys. If you have other tips for us to start your music channel, let us know down below. Share this to a friend who wants to start their music channel so that you can help them out in the future. Before you leave guys, leave a like, subscribe and gong that bell. My name is Noel guys. Bringing you tips on how to grow your channel. Always remember, freedom, quick tips. I'm going to be seeing you guys on the next episode. Goodbye.


I want to start out just by looking at a few charts, just to get you into the topic, and we'll see what's going on with debt and deficits these days. The first chart is a government debt, okay? I mean, that's the big issue now anyhow. I mean, we hear it endlessly on the national news every evening. The numbers look awfully big on that vertical axis. And I think what we'll do is put the debt limit up here first, goes like that, it's something pretty high. And if we look at the way that the debt has played itself out, it goes something like this. Okay, let me try that just again to get it to work right. Sorry about that. Okay, so you can see we've finally, it looks like we have finally, at long last, reached the debt ceiling that's set at about $14.3 trillion. Now that chart in this respect is just a little bit disingenuous, because it looks like that debt ceiling has been set there from way back when, which isn't actually the case. More revealing is another graph, if we can get it to work. First time I've had a hardware problem in here. There's the other graph. I don't know if you can see both lines or not, but the dark red line is the debt ceiling. And the light green line is the debt. And what we see is miraculously the debt ceiling keeps just ahead of the debt, but just barely. It works that way. If you tally it up, you see we first had our debt ceiling in 1917. That's when the ceiling was first imposed. And it was opposed at the pretty low level. There it is. 1917 debt limit was $11.5 billion, which hardly registers on the axis. These aren't inflation adjusted, but that is so small compared to what it is now that even if you do adjust it, it still doesn't show up, $200 billion, which, well, it would show up. It's just a fifth of the way up between zero and one. That's doing it in real terms in making an equivalent to where we are today. Now what strikes me as odd here about the debt ceiling, one thing that makes it odd is that this is the only country that has one. If you look at other countries around the world, they don't have any debt ceiling. They've got a Congress or something like it that's supposed to behave in a physically responsible way. And here we've got a Congress who has the power overspending. The power of the purse resides with Congress. And they also have the power to set the debt limit. So it's the self-same organization that's putting a limit on itself and authorizing the spending. Now in practice what happens is that they authorize payment on some formula basis and turn it over to the Treasury. And the Treasury can issue bonds to conform to legislation that's already been passed and just to make sure they don't get too far out of hand and put a debt ceiling. And as you can see, change it occasionally. So anyhow, despite that we can say that the debt ceiling is something akin to a New Year's Resolution. But there is a difference. I have to admit there is a difference. And that is that over these 94 years that we've had the debt ceiling has been violated more than a hundred times, okay, more than a hundred times. Whereas with New Year's Resolutions they're only violated once a year, okay? So we're better off with New Year's Resolutions. I might explain a little bit about what's going on right now in Washington. This lecture wasn't particularly meant to be topical, but boy is it. I mean, given the turn of events, you might remember the date May 16 of this year, which was supposed to be initially the day that we would hit the debt ceiling of $14.3 trillion. Remember that? And then when that date came and passed, then all of a sudden, well, it's really August 2nd. And it's instructive to see how the government is getting itself from May 16th to August 2nd. Where is it getting the money? I thought we were supposed to hit the ceiling at May 16. According to Tim Geigener, the Treasury Secretary, he has had to resort to extraordinary measures. Let me put it simply at first and then I'll explain the nuts and bolts of it. And that is that up to May 16th, the federal government was borrowing money and spending it, okay? They were spending borrowed money. Between May 16th and August 2nd, they're spending money to be borrowed later. Think about that. Could you spend any money to be borrowed later? I don't think so. And it works like this, that there are a number of investment funds that are held by the government itself. Let's say investment fund is part of the retirement package for government workers. When you're working in the government, you have a retirement package and funds are available when you retire. In the meantime, they're held in an investment fund. And most of that fund is in the form of, can you guess, government securities of Treasury bills? Okay, so Treasury bills are in the fund. Now, how does this help? Well, ordinarily, retirement checks go out based on funds in that, Treasury bills in that fund. And more Treasury bills than that roll over each time. And those are just, well, they're rolled over. You just trade one Treasury bill for another and keep the money invested in Treasury's. But now the extraordinary measures allow the government to do something different. They cash out, they cash out the Treasury's that aren't needed this time around to make payments to their retired workers. They cash them out, and they can spend them. When they cash them out, then that means that the government debt has gone down by that amount. Well, how do they make good on that? Well, they put an IOU in the hopper, it could be a little post-it note or something like that. We owe this fund so many Treasury bills. And we'll buy them. We'll buy them. But we have to wait until the debt limit is raised, okay? So this is funds to be borrowed later. And if you do the arithmetic, you see the government lately has been borrowing at the rate of about $4 billion a day. And if they go 78 days between May 16th and August 2nd, they'll run up about $312 billion in funds to be borrowed later, okay? The one thing to watch for is that when they do raise that debt limit, we would expect to see or certainly should watch for a spate of borrowing, all right, far in excess of what the government normally borrows each day, because they've got to borrow the $4 billion just to keep the government running, plus they've got to work on borrowing enough to make good on all of the Treasury bills that they've cashed out from those programs. So that's how it's working today. It's not particularly encouraging. If we do hit the debt ceiling, which I don't think we will, I think the ceiling will be raised when Bush comes to show that's the way Washington works. But I would like to mention that how government responds in almost an opposite way of the way markets respond, that when markets have to cut costs, what do they cut? They cut the most marginal expenditures, the most marginally useful expenditures that they've been making, okay, trim down their costs in that way. But when we're playing political football with the debt and deficits, then the threat is to cut not the least important, but the most important, okay? If we run out of money, we'll cut. We won't send out social security debt. We won't pay the military. We won't pay this, and we won't pay that, okay? You love to hear them say, look, if we hit this debt ceiling and don't get it raised, we're going to have to quit subsidizing ethanol. Hey, hey, that's win-win, okay? We're going to have to quit subsidizing all those windmills up and down Indiana. Have you seen them that are trying to figure out how to generate power with the wind blowing across Indiana? Well, good. We needed to cut that anyhow. We'll have to quit subsidizing battery-operated automobiles like the Chevrolet Volt, which turns out to have been a disaster technically in marketing in every other way. Well, good, okay? We need to cut those things anyway, but what you see is they threaten to cut at the other end of that spectrum. Okay. Well, I'm sure I've got a few more charts here to show you. Surplus and deficit. Sometimes this number is hard to find on the web, so we're just going to look at the deficit I've labeled it loud and clear there. Oop, there it goes. There it goes. The reason it's hard to find, I remember I spent a better part of an afternoon a few years ago. They cleaned it up a little now. Looking on the Federal Reserve Bank of St. Louis, looking for the data, looking for a deficit. I couldn't find the deficit. I couldn't find the deficit. I was poking on everything. It turns out that it was billed as government saving. Government saving. And of course, when you pull it up, it's all negative, which meant that it was really a deficit. They were going in the hole. So that's the way it looks. That little blip that you see there before it gets to the serious part, that's borrowing during World War II. Now, it's true that this is an nominal term, so if you adjust it to real terms, the World War II borrowing looks pretty serious. But after all, all of the inflation created between then and now is due in some part and a fairly substantial part to deficit borrowing itself. So I don't hesitate to show that way in nominal terms. So that's what the deficit looks like. Let's see what else we got here. International trade deficit. And it looks a little funny too. There's Reagan years there and then more recently, we've had some pretty serious international trade deficits. Which of course reflects all that deficit borrowing. Most of the borrowing in many of those years was from foreign sources, China, Japan, mainly China though. And what I want to call your attention to is how the rhetoric of deficit finance has changed, how the apologists for government deficits has changed. Back in the 1960s, it's just barely on the map there, you can see deficits didn't amount to much. It's just sort of moving along almost zero. And at that time, a bit of flip-flops in 1960 says, don't worry about the deficit. We owe it to ourselves. In other words, the government was borrowing your savings. So we the people are lending money to we the people to take care of our governmental affairs. We're just borrowing it from ourselves. Well, I guess I should point out, I got this from Murray Rothbard. It proves too much to say that it proves too much, doesn't it? Because if we shouldn't worry about borrowing, because we owe it to ourselves, then we shouldn't worry about stealing either, because shouldn't we? We're just stealing from ourselves. We shouldn't worry about any of those kinds of crimes. But what I want to point out today is the rhetoric has changed completely. In the 21st century, we don't say we owe it to ourselves. In fact, mostly we don't. We owe it to the Chinese. So don't worry about the deficit. We have access to world capital markets. In other words, we're borrowing it from somebody else. So the summary line is, don't worry about the deficits, because we're either borrowing it from ourselves or from somebody else. Maybe we should worry. Well, okay. Government spending. It all starts down by the horizontal axis and goes skyward. Probably the thing to note there, I mean you know what it looked like in general. But it began to get out of hand around 1970-71. What happened in 1971? Anybody know? Yeah, abandonment of the gold standard, slamming the gold window. That was Richard Nixon August 15, 1971, a day that will live in impamy, okay? That marks the point where the government's hands just were untied at that point. It could spin to its heart's delight and borrow accordingly. That's government spending. What do we got next? We've got tax revenues to see what they look like. And sure enough, taxes haven't increased as much as government spending has. And that first dip, you can see, is that tax receipts went down as a result of the dot com bust. And they also went down because of George Bush's tax cuts, which was his stimulus program. And then it goes down again, of course, in the most recent contraction. And so it's falling far short of government spending. Now, one thing I want to point out here that's worth noting is that the political alignments of political parties with economic schools of thought has changed in a way that gives you plenty to worry about. There used to be a time, I can barely remember, when Republicans were against Keynesian policies and thinking of very goldwater in particular, and where Democrats were in favor of Keynesian policies. And of course, Keynesian policies are cut taxes or stimulate or increase government spending or possibly both to get the government or get the market going again. So one party of the Democrats favored that and another party of the Republicans opposed that. Well, I wish it were the same today, but it's not. Now what we have is both parties are hardcore Keynesians. And the only difference is how they want to stimulate. So you see the Republicans as favoring a Keynesian tax cut stimulant and the Democrats favoring Keynesian spending stimulant, leaving nobody with power there to argue the case for not pursuing Keynesian policies. We've got some pretty dramatic and persuasive voices in that direction, but certainly not the votes to do anything like that. I'll mention a recent quasi exception. And that's John McCain. You'll see why I say quasi. And that is because when John McCain ran for president, he took undue criticism for his opposition to the tax cuts. And yet the opposition was a very principled opposition that understood that, yes, we need to cut taxes, but we need to cut government spending too.  Well, that's the kind of argument that even Mary Goldwater would have made for that matter. Now I said I use the term quasi because if you'll remember, John McCain actually suspended his campaign in order to go to Washington and vote for George Bush's stimulus package. So when Bush came to show, he was a Keynesian for sure. McCain, I start to say in his defense, it's not much of a defense, would admit to himself that economics was his weak suit. That's not why he's specialized in it and of course it showed. So what I've observed as someone who teaches economics in various places and various groups, what I've observed is that the two most difficult people to teach economics, two most difficult audiences, are the military and the clergy because they both have a top-down view of how the world works. It's all top-down and they don't necessarily see that spontaneous order can work. Okay, we've got tax revenues now and here's just a little interlude to set the record straight about what my own preferences are and my own focus is. If we're going to talk about deficits, then willy-nilly we talk about government spending in taxes because if they're the same we don't have deficit if they're part we do. But I'll start out by acknowledging a book that I love it in spirit and even in substance by Franz Oppenheimer Eimer, it's called The State. That's actually a recent printing of the book. An older printing had the same type on it but instead of just being all red in the background, it just showed a large area with dead bodies lying all over it. So there's a certain conception of the state. But here's what Oppenheimer Eimer said, he says, there's two methods of acquiring wealth and one is production and exchange and the other is confiscation and threat of violence. Those are the two ways. And he identified these further is that the first is the economic means and the second is the political means. And of course he was in favor of the one and not the two and he went on to identify the government as the organization of the political means. So we could take a hard core view, almost a Walter Block view I guess I would say, okay enough already, we don't want any more taxes, we don't want any more government spending. And if I take that position, hey, my lecture ends right there, you know, not much else for me to say. And so I think it's worthwhile to go on and realize that some fiscal policies are worse than others, okay, even if you don't like any of them. So I'm going to have several questions I may not get to all of them we'll see. One is, does the tax take measure the burden of government? And two, are all taxes dollar for dollar equally burdensome? Three, are taxes better or worse than budget deficits? That's the one I want to spend some time on because I think we can get some ideas straight there. What's the case for the flat tax or the so-called fair tax, we may get to that. May not, and is a consumption tax preferable to an income tax? Here's where we have to tip our hat to Milton Friedman, who argued 25 or 30 years ago that the focus on taxation as the cost of government is the wrong focus, okay? He says government spending rather than the tax take is a closer to the mark of gauging the burden of government. He's just thinking in real terms, realizing that government spending is equal to taxes plus the difference between government spending and taxes, in other words that's the deficit, part of which would be borrowed domestically, part abroad, part borrowed from the Federal Reserve, who created it for the purpose and so. Ultimately, it's government spending that best measures the burden of taxation. Think of it in real terms, when the government spends, it's taking command of a certain amount of resources in the economy. That measures how much of the economy's resources the government takes to allocate according to its own preferences, leaving the economy with the rest of the resources. And so government spending shows you the burden of taxes plus the burden of government deficit spending in that sense. Dick Wagner, he's a public choice economist at George Mason, formerly at BPI, formerly at Auburn actually, taught here for a couple of years. He would add the burden of regulation and making the point, this would be a friendly amendment to Friedman's claim that it's government and not taxes that measure the burden of the government, it's government spending that measures the burden of government. And Wagner simply points out that many objectives that the government can achieve by spending, it can achieve instead by regulation. So in other words, it could spend money, it could spend funds, it could command resources to try to clean up the pollution that it perceives in industry. And that would be government spending that would count as one of the burdens of government, but it could alternatively just impose regulations on the economy. Just impose regulations on industry and make industry do what the government would have done by spending money and commanding resources. So there's a burden of regulation there as well. Later on I'll make the case that it's one thing to argue that budget deficits per say aren't bad except for allowing still more spending and more influence of the government, but I will argue that if the budget deficits are chronically large, and I had this, I wrote papers on this 20 years ago, and of course now they're getting more and more chronically large, then that gives us an additional burden that we wouldn't have if budget deficits were in a much lower range. We'll see how that works. Are all taxes dollar for dollar equally burdensome? Well, no. It turns out that some taxes strike at the heart of the market system. Those are the worst, okay. Those are the worst. And the best instance I could think of for this is Roosevelt FDR's undistributed profits tax. I know you've heard a lecture from Bob Higgs. He probably mentioned the undistributed profits tax, but whether he did or didn't, I'll remind you of it. During the Great Depression, of course, all sorts of regulations were imposed on the economy, and one was a very high tax up to 70% on undistributed profits. Now, you know what we mean when we say undistributed profits are the monies that are paid out as dividends to the stockholders, or that are even kept by the owners for their own consumption. That's distributed profits. The undistributed profits are profits that are plowed back into the enterprise so that it will grow.  That's why it's still small. And when you make a profit, you can either pay it out in dividends and all those dividends go to holders of the shares, or you can retain it, but if you retain it, you immediately lose 70% of it. So this is a formula for stifling the growth of business firms. That's their major source, especially with small business. That's their major source of capital with which to become a larger, even viable system. So now, I have to admit, though, that Roosevelt's undistributed profits tax was about half, I say half successful, because there were really two purposes, one not so successful and the other successful. And the first purpose was to raise revenue. Well, you really don't raise much revenue if you tax profits that dearly. It just means that firms aren't so interested in trying to make profits if they can't keep about 30%. So that purpose wasn't successful. The other one much more so. The second purpose was to strike at the heart of the market system. Now it worked out. Roosevelt, I'm not sure more or less than Obama, I suspect maybe even a little more. Roosevelt had a seething hatred for the market. He was sure it was the market itself that caused the economy to be in the awful shape it was in. And some of the blame was coming back to him. And so he really despised business people and had this seething hatred. So he didn't have any qualms about imposing taxes burdensome as that. Now it turns out the narrower the tax base, the greater or I say at least more concentrated the distortion of economic activity and inequity of the tax burden. The narrower the base. And a good example of this is George, the first George Bush 41, his yacht tax. And I love this example. It makes a great classroom exercise. It made it onto my exam the very year the yacht tax was implemented. It was implemented in 1990 and finally eliminated three years later in 1993. Let me explain to you what the yacht tax was about. It had some resemblance to what's going on now. And that is tax the rich. But see, here we got a republic and we got Bush. Yeah, tax the rich. It had great public appeal. Because you're not rich, so tax the rich.  So tax the rich. Who are the rich? Well, there are people buying yachts. There are people who are buying luxury cars. If you remember the particular tax, it applied to automobiles, luxury automobiles in excess of $30,000. It was a little low for a luxury automobile, but for 1990 it was. You paid $30,000 for a car in 1990, you're doing pretty good. And of course, yachts.  But we'll tax them. Now, it's a lesson here from, I like to say the Austrians, and certainly they are in it here, but Alfred Marshall gets the kudos for talking about the elasticity of demand. He's a British neoclassical economist, Mr. Neoclassical. And it turns out that the demand for yachts is elastic. In other words, the demand curve doesn't slope too steeply is the way it's depicted here. It's elastic. And Marshall identified three characteristics of goods whose demand were elastic. And one is that if there are plenty of substitutes, then the demand for the product will be relatively elastic. You'll just buy the substitute. So if you put a big tax on okra, all right, just buy Brussels sprouts. Those taste about the same to me. So you just quit buying oak by Brussels sprouts. Other things, if you tax cigarettes, what do you do then? Okay, I'll just buy okra. So if people smokers themselves, they can't think of a good substitute for cigarettes. Well, they buy the cigarette even though they have to pay more for it. And it's an inelastic demand. And you might not really say, gee, what are the substitutes for a yacht? And it turns out you have to think more broadly. You think how do the wealthy spend their entertainment dollar? It turns out there's lots of ways of spending your entertainment dollar. So I'm told. But lots of ways of spending. You can vacation on the Mediterranean or buy a couple extra homes here and there or whatever you want to do. And so there are substitute ways of spending your dollar. So the big yacht tax, so much for the yacht. Now a second criteria, which again may not seem like it's applicable, but it is, that a curve will tend to be elastic to the extent it takes a big chunk of your income. The price of that thing goes up and you have to back off. Now a lot of people's view, especially people in favor of the tax, assume that for wealthy people, nothing to buy a yacht. You know, you buy one this morning and maybe another one this afternoon. What the heck? But that's not right. If you look at the market for yachts, most of the people who buy yachts are paying a pretty good hunk of their income for the yacht. Now okay, there are some people there on up the scale that can buy yachts all day, but we won't worry about them. The market itself for yachts passes that Marshallian test. Then the third criteria is over time the demand curve will get more and more elastic. In other words, as time goes by, as say from 1990 to 1993, people find different ways of spending their money to buy yachts. So it's elastic. So look at what that means. If you throw a yacht tax on there, which is just to say, think of the saving of the supply curve as a cost curve, that's how much you have to pay for the yacht, the vertical distance. If you have a pay a tax too, well you just, the cost plus tax included is the S plus T part. Now if people bought the same number of yachts as they did before, then, wow, you know, the price is just way out of line. You have a huge surplus of yachts. You have people willing to supply that many yachts, but given the demand curve, not very many yachts would be bought. And of course that bids down the price of yachts, like so, and means you can stare at that diagram and see it that the extra tax that the yacht buyer pays is pretty small compared to the taxes levied on that yacht. And yet out of that tax included price, the yacht seller has to send to the government the whole yacht tax. And so the rest of the tax, it turns out, is not paid by the seller. It's paid by the people who are selling yachts, the people who are paying workers to make yachts and then selling them, all right? So it became apparent after just a few months really, and certainly more and more apparent as time went on, that the burden of the yacht tax was suffered by the yacht yard workers, all right? I don't know how much you know about yacht yard workers, but they're not in the upper echelons in the income bracket. They're way down low. And so they were suffering mildly. So the luxury tax hit the lower income people much, much harder than the upper income people for that reason. And I'm happy to say that this diagram went on to one of my principal's level exams pretty early in 1990 to get students to analyze the yacht tax. Through just watching the market, the people in Washington figured it out after about three years. And they realized they had to repeal that particular tax. Our taxes better or worse than budget deficits. And this first question I had on an old, old lecture I gave some time ago that bears little resemblance to the current lecture. But I saved that one slide just because that question just struck me as funny. Our current and projected deficits large. Well, we can take a vote and see. They're pretty huge. And what we have seen in the past not so much recently just because deficits are so, so large. But what we've seen in the past is that politicians try to explain away or try to excuse themselves for running fairly large deficits. And so they play up compared to what game. For instance, are they large compared to GDP? That's gross domestic products, total output of the economy. They can't even say that any more, at least not with respect to the total debt, which is about to hit GDP. The deficits, of course, are still fairly small compared to GDP. The annual increase in the debt is small compared to GDP. But as Edward Dirksen, an old-time congressman from Illinois, Senator from Illinois, said, he said, the major purpose of the GDP figure is to make anything else seem small by comparison. That almost anything is small compared to everything. And so that comparison is not necessarily a relevant one compared to private borrowing. It's not borrowing so much money compared to how much the private sector is borrowing. And of course, those two kinds of borrowing are very different economically. But equally important is that you can hardly excuse a whole bunch of borrowing by pointing out a whole bunch more borrowing. These are people competing for the same money to borrow. So I'd worry more rather than less if other people were borrowing a whole lot too. The same kind of a comparison. U.S. isn't so bad compared to the borrowing done by other Western countries. OK, Italy's ahead of us and so on. We're not the first of the line in borrowing, Greece and so on. But again, this doesn't make us feel better. This is even worse. We're doing all the borrowing. The U.S. government's doing all this borrowing.  All the more reason to worry. In fact, the comparison you want to make is compared to saving. In other words, how much is there out there to borrow? And of course, at the same time, borrowing has gone up. In this country, saving has gone down, which is of course why we had to have access to credit markets to get any borrowing done. And that's the ultimate comeback here. Well, we, compared to the world credit markets, we have access to world credit markets, and there's plenty to borrow there. And I'll say two things about that. This used to be a supply side, favorite supply side argument, that the borrowing done by the U.S. is just a drop in the bucket compared to world saving. So don't worry about it. The deficit doesn't matter, doesn't do any harm, because it's just a drop in the bucket. Well, wait a minute. We're borrowing about 40% of what we spend, which means 60% is taxes. And that certainly has some detrimental effects. So if we didn't collect any taxes, we could borrow everything in world credit markets. That's just two drops and a half in the bucket. Who would worry about that? There's something funny about that argument. And it turns out, I think, that if in fact we borrowed some years and ran surpluses others and borrowed other years and ran surpluses, then as far as this magnitude of comparison how much we're borrowing and how much is there to borrow, yeah, it wouldn't make that much difference. But you've seen these graphs are all one way and it's all up. So when you're borrowing year after year after year after year, then the cumulative effect of that can be catastrophic and cause a crisis, currency crisis, a breakdown of U.S. dollar and so on. And it'd be calamitous. So again, not a good comparison. I just put up a sample here because I want to show you now and show you how chronically large budget deficits can have a big negative impact on the economy. These numbers aren't too far from the correct ones. That is, government spending about 3.8 trillion, tax collection about 2.5, leaving 1.4 trillion to borrow annually, probably more next year, but that's a yearly borrow. And there's a bigger difference than you can see just by looking at the numbers. And it goes like this. Taxing is done in accordance with pre-known, maybe not too far in advance, tax code. And let's recognize up front that tax codes are very difficult to understand or way too complicated. They've got some perversities in them and in fact they're mostly perversities. But at least we know or can know or can hire an accountant to know what the rules of the game are. How are taxes going to be collected? So there is a tax code. Businesses certainly are attentive to that and they plan their affairs in order to minimize the negative impact on their firm of the taxes that they're going to have to pay. So in other words, they know up front much coming down the pike. Subject qualifications about the ambiguities in the code and the undue complications and all that. It is a tax code and it's better than not having a tax code. But look at deficits. I'll put this term on the board and ask how many have seen it. Has anyone seen the most recent deficit code? There isn't a deficit code. In other words, the government doesn't specify just where, just when and just how it's going to get the funds to spend over and above what it collects in taxes. And that creates an amount of uncertainty in the marketplace. Uncertainty that's not particularly bothersome if the deficit is pretty low. If we were borrowing 1.4 billion instead of 1.4 trillion then not having a deficit code wouldn't be a big deal. But if we're borrowing 1.4 trillion, it is. In business firms don't know just how that borrowing is going to take place, what aspects of the market is going to affect and how it will affect their business. It's called regime uncertainty and they just soon stand back and wait until they see something more specific before they put their money at risk. Now I can show you several possibilities. I'll show you how this works. You've got some choices to make. You can borrow domestically. You can't do that too much anymore because there's not that much saving and so just very recently. Borrow from the Fed or borrow abroad. All right? And these have different consequences. And business people don't know in advance which way the government's going to go. And it tends not to even at the margin where it does all three and adjusts at the margin. It tends to binge in one area until that causes trouble and then binge in another area until that causes trouble and then binge in a third area. So we can look at the consequences. If they borrow domestically, then that causes crowding out. There's going to be high interest rates as the government borrows money from you. Interest rates are high and business is crowded out. It can't pay that high an interest for funds to invest. It doesn't think it can make profits given those interest rates. Or it can borrow from the Fed. That's going on now to some large extent. But, of course, that's going to cause inflation. And then people have to figure out, well, when's this inflation actually coming? How bad is it? How do I hedge against it? Or it can borrow abroad. And that causes weak export markets. So if you're in a business that produces for export, boy, you better watch that borrowing abroad. What it means, you see, if the government wasn't running these trade deficits, that means that freighters would come from other countries with cargo in their cargo bays, unload, and buy goods in the U.S. to take them back to their home country. And so if you're one of the producers of those kind of goods that they tend to buy, you're in good shape. But if the government is selling its debt abroad, that means that when the freighters get here and unload, they don't put anything in their cargo bay.  And so if you happen to be in a business where you were producing for export, you're in bad shape. And if you're worried about that, given how high the deficit is, then maybe you just don't invest. And we can even put names on this, that at least in the early years, it's kind of between then and now, between Reagan and now, they've tried to use anything and everything in places to borrow. But Nixon gave us crowding out with high interest rates. Carter gave us inflation by borrowing from the Fed. Reagan gave us weak export markets by borrowing abroad. And the president since then have done a little of beach, mostly borrowing from the Fed and borrowing abroad, because you people aren't saving much from which to borrow. Now, there's been some serious study about this. And there was just a spate of journal articles that dealt with the issue of due deficits actually cause high interest rates. And let's see. Another spate of articles, due deficits cause inflation. And a third spate of articles, due deficits cause trade imbalances. Now, these are high power, top-notch economists slash econometrations that want good answers to these questions. Now, an Austrian answer might be something like this, due deficits cause high interest rates, well, they sure did during the Nixon administration. That's what he was doing, borrowing domestically. Due deficits cause inflation, well, he sure did during the Carter administration. He borrowed from the Fed. How about the weak equity? Well, he did in the Reagan administration, he borrowed from abroad. Okay? But that's two episodes for econometrations. So they use, the data they use is all the data from 1947 to present. What's special about 47? That's when it became available. That's when the data was available. So we'll use all available data in 1947 to present. And using all that data, that whole time series, can we say with some statistical accuracy that deficits cause high interest rates? What is the evidence? And let me report, I'll give you one answer, and then I'll pump you for the other two answers. Their answer is, weak and mixed, weak and mixed. We can't say for that whole period that deficits caused high interest rates. Okay? Well, okay, there's a whole notice that due to deficits caused inflation. They used all the data from 47 to present. What do you think their findings were? We could, this group catches on fag. We can make. Due to deficits caused trade imbalances. 1947 to present. We can mix. And so finally, finally someone did a survey article let's take all these articles and see what the collective conclusion is. Okay? Do deficits cause any problems at all? Don't worry, be happy. And of course, the problems that get caused are precisely come from the circumstances that you don't know what the particular problem is. It's sort of a two-tier problem. You're going to have a problem to deal with in planning your business affairs, A and B, you don't even know what that problem is. So that means that you're likely to sit on the sidelines and wait for better times before you invest your money. Okay, well, let me close there. Thank you.


Oh my god, I love it already. Hello welcome dear simulator. What are these intros? It doesn't make sense. This is a deer. I oh you can put shed onto water. Oh, no I drew it out. I was like, I don't know what to record. Oh, my friend captain sauce said maybe I should play a little bit of Deer simulator, so that's what I'm gonna do Oh boy. Oh boy. Oh Hold on There's too much. I'm a deer. First of all cool. What's the big cow up to?  I'm not normal. I am not normal Yes, yeah, yeah, yeah, yeah, this is how you drive things. Oh my god. Oh my god.  Oh my god. Oh my god. Oh my god. Oh my god. Oh my god. Hold on a second to back it up back it up Okay, you get over here. Okay, and we're gonna do the loop. Okay, right away. We're gonna do the loop We're gonna do the loop. We're gonna do the loop My god, is that an elephant? Is that a flying elephant? What is this game? This is one of those YouTube games You guys know about YouTube games. This is games that are definitely just made for YouTube go Through the loop. I need it. I need to get a better vehicle.  I hate it next stretch Okay, yeah, hold on wait say hi hi hi. How are you? Can I dance? Oh? We're dancing now. Geez. What is this? Deerify odd. That's great. That's great. Okay. I'm gonna get in this car We're gonna go quick. Okay. Oh my god. This car is so much faster than I thought it was gonna be.  It is the definition of speed Okay, ready? All we need to do Is go forward ready. We're gonna wait for this car to pass and then we're going for it Yes, yes, yes, yes Can I read the horse of course I can oh, yeah, of course is that a giant fish in the sky How do I get to an airport? Hold on is there an airport nearby because I need to get a plane so I could see that giant fish in the sky Animal friends, maybe I can help you. Oh y'all are playing basketball Hold hold on hold it. Oh, yeah, I want a dunk Can we dunk? How do I how do I score? Oh? Okay, hold on hold on hold on hold on get to this side and bang Come on. Come on. Come on. Come on. You know you want to do it, but you know you want to do it That wasn't really a dump, but it's okay. What's this game? Is that the airport run? Can I swim? I'm Jesus Christ. I Am Jesus Christ. What is out here? I can run on water. Who are you?  Oh, no. Oh, no. Oh, no. Oh, wait, hold on. I'm stuck Oh, no wait hold on There's no way Oh my god. Oh my god. Oh my god.  Are you a rhino? Of course you are Can I ride you hold on I can hold him Okay, wait, what did I just do can I spawn in things? Okay, hold on wait. Okay, come back here. I need you. I need you just for a minute I need you to stay here. Okay, you stay right there.  I'll be right back Okay, don't move a muscle wait you are the one Yep, they're coming with me bucko, and then we have the cow and we have the rhino and we have the deer All three combined make for what we're about to find out.  Where'd you go? I need you to stay on this.  I need you to stay No, don't hit him stop hitting him grab him No stop. Okay. Okay. I'm putting you on top of this and then you're going to stay there like a good Like the good cow that you are Huh, huh, huh? Hold on wait a minute. What if I killed the cow? There we go. I've done it guys. Everything's fine now. Everything's great. Everything's all right All right, there we go. All we had to do was murder the cow and that's fine What are you bringing to me man? Tigers is that a mac made of animals? Ed's a mac made of animals and it's mine metal deer. Oh my god This was all worth it.  Oh boy. Was it worth it? This is where the police come out. I'll see now. I'll see now bring out your best shot Huh, you won't be able to stop me. I'm a deer in a mech. You've got sheep.   Oh here. They are. Oh here. They all are.  Come on do it Come on Do it Come on Come on. Come on sheep. Yeah. Yeah. Yeah, get close to me You've defeated the cops. Well easy peasy of course I did Does that go all a real life? Oh I'm just I'm just destroying things now. Oh my god. I angered the koala. Oh my god Is my mech not here anymore?  Yeah, come here. I know I know you're about to be meat.  That's so much fun. Oh my god. That's so sad though. You didn't even see me coming Because you were in VR. Oh, that's so sad. That's tragic. Oh, I don't even need it The mech's already here. Okay, bring them out boys Bring them out. I am causing all of the destruction Yes Oh, dude, we get actual cops now. Oh because of the destruction level. It's a poll of god. Okay So first off I need to get rid of the sheep. Come on. I'm shooting right at there We go one sheep two sheep anyone that comes in my path will be destroyed You will be destroyed and being overrun. Oh look at this path of destruction That I've made Uh-oh, uh-oh, hold on a second. The polar bears are coming Get out of the way Oh my god. Oh no. Oh no. Oh no, no, no, no, no, no, no, no, no, no, no, no I've defeated the cops. Okay. Everyone's dead. Ooh, what if I shoot the big cow? Dude, dude, the big cow has turned into a big bull. What if I shoot the udders? It is slowed with milk Give me your milk. All right, let's just destroy some of the buildings, huh? I do want to fight the giant koala. There's a zebra on top of there Oh my god There's a large zebra. All right, my dear zaster level is at C If I get it to B will new cops come out still let's see. Come on. Get me the B, baby Beef a baby. Here they come. What do we got? Rabbits those guys are cute Ear walker. All right, let me add them See this might be tough though because they small They small enemies. Oh and I gotta deal with goats too or sheep, whatever they are Oh my boy Oh my boy There's so many of them. There's too many of them.  I got one of the rabbits. I got two of the rabbits. Okay. Now the sheep are mine Come on sheep Yeah, man, come and get me. Come and get me. I defeated the cops. Okay Jeepers. Oh under construction. I can't even go higher than level B, but maybe I can go higher than koala Huh?  You can't defeat the giant koala man or can you I don't know All right guys, I'm gonna end this one here. What am I even playing deer simulator? I don't I don't know what I'm playing right now I hit a great time. It's a very fun game. If you want to check it out for yourself. It's on steam. Uh, excuse me Excuse me. I can have a k47 face Why didn't anyone tell me that I could have a k47 face?  Come on. Why didn't no one do all right? Well, anyway, I'm going to leave this one here Thank you guys so much for watching.  I'll see you guys later. Hope you have a lovely day. Uh What's the outro? What's the outro addressing in the comments? Let me know what what should the outro be? I had an outro. I used to have one but now It's long gone. Nobody uses outro's anymore. Why? I don't know. See you later. Keep that


I think it would help to have a quick clarification on the precise meaning of two terms. Terms I've unfortunately misused multiple times already. Assault weapon and assault rifle. First the assault rifle. Militaries use two main classes of rifle long guns, a battle rifle and an assault rifle. The battle rifle fires a heavy or long cartridge either in single burst or auto, and typical examples from World War II are the Mauser 98k or the Lee infield. The standard service rifle used in most modern militaries since about the Vietnam era is the assault rifle, which fires an intermediate cartridge sized between that of a pistol and a battle rifle cartridge. Assault rifles are generally smaller and lighter and used at shorter ranges. They match the highly mobile tactics of a modern military, trading penetration and precision for faster movement and tracking. Now that we know what an assault rifle is, what exactly is an assault weapon? The term has a legal definition in the US that I'll get to in a moment, but generally the requirements are semi-automatic fire, meaning the weapon fires every time you pull the trigger, and a detachable magazine as well as any two features associated with a military style design. These features include a folding or telescoping stock, a pistol grip, a mount for a bayonet, a built-in flash suppressor, or a mount for a grenade launcher. Pistols with semi-auto capability and detachable magazine can also be included in the category of assault weapons if they have a magazine that attaches anywhere other than the pistol grip. If they have a threaded barrel to accept a barrel extender or, quote, suppressor, which in the movies is called a silencer, or they have a hand grip on the barrel. Semi-auto shotguns can also be classified as assault weapons if they have an adjustable stock, a pistol grip, a removable or revolving cartridge, or they carry more than five rounds internally. The laws around defining assault weapons were previously in Title 18 of US Code Chapter 1944, but these definitions expired in 2004 with the end of the Violent Crime Control and Law Enforcement Act. I've been sloppy in my use of the term assault rifle to mean a semi-automatic rifle that meets the older definition of an assault weapon. My thanks to those who pointed out my mistake in terminology. In particular, I mean the AR-15, a semi-auto rifle with many of the same features of its military assault rifle equivalent, the M16 or M4. We saw the AR-15, or a similar type of semi-auto rifle, yet again this weekend, in use to kill innocents at the Los Angeles International Airport. My thoughts go out to the family of the victims of that tragedy. I want to point out that the AR-15, while a recurring theme in tragic mass shootings, is also one of the most popular weapons here in the United States. The reasons for its popularity as a hunting or a sport rifle are generally stated as its low recoil, making it friendly for smaller or lighter people to fire. Its use in hunting, where the semi-auto magazine fed rounds allow for multiple shots on the same target. Its flexibility, accepting a wide variety of peripheral devices like scopes to customize it to a user's particular application. And lastly, its availability and low cost. In my previous video, I stated that assault weapons fell closer to the hand grenade end of the use-miss-use spectrum, and many people assumed I meant that it was more dangerous in the hands of criminals, which it honestly probably is. In spite of the FBI statistics showing that it is rarely used, it's been used very publicly for a particular type of indiscriminate mass shooting. But my argument is that they aren't especially good at self-defense. While shooting them may be comfortable for people with smaller frames, they'd be hindered in close quarters or against a charging attacker by the nature of the barrel and cartridge. Assault-style weapons are designed for high fire rate over intermediate ranges. That makes them more valuable to an attacker, in my opinion, than to a defender in civilian hands. You're welcome to disagree, and it's not essential to my argument that we can use objective criteria to evaluate the risk-to-benefit ratio of firearms. That any particular weapon has a particular ratio. My primary point is that the design of a weapon, whether it be a hand grenade or magazine-fed shotgun, is relevant to the issue of how best to write legislation to regulate it. I look forward to further discussion. My goal here, as always, is productive dialogue. I know this is a contentious issue, but it's also an important one. Too important, so far as I am concerned, to leave in the hands of politicians. Thanks for watching.