Back to episode — Episode 1780 Scott Adams - The News Is Crazy Today. Come Enjoy The Absurdity With A Beverage
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lizabeth Dwoskin who's writing for the New York Times. And she tweeted that for a month she had been working on a big story about Peter Thiel and about how he left Facebook et cetera and it morphed into an examination of the ambitions to be an architect of the new American right. I don't know if that's true. Do you think Peter Thiel wants to be an architect of the new American right? I don't know…
← Previous segment →specifically but I have a feeling that that data probably is not on point. Meaning that I'm not sure that that survey is exactly telling us what we think it is anyway. There's a little bit of disagreement. I'm not sure what is true. I'm a little unclear because the propaganda is so thick from left and right and so I can't tell how much is right-leaning propaganda that says that Biden's responsible for canceling all these oil and gas leases and stuff. But they do have an argument that those things are trivial.
So there's one argument that says that Biden caused this by everything from not approving energy projects to closing down energy projects. But the counter argument is yeah he may have done all those things but they're so small that they don't really make any difference. What do you think? Because I don't know. I follow the news and as I said I've got some economic background but I don't know the answer to that question because I follow the news. I don't believe the news is giving me straight news on the left or the right on this question.
Do you think that the left or the right are giving you the — because the right is saying Biden made these decisions it reduced future amounts of energy therefore the prices went up. It's just two plus two is four. It's that simple. The right says even if he had done everything differently none of this makes a difference in the near term so you couldn't possibly be seeing those decisions in the near term. And you know that people are not so smart that the near term really reflects the long term anyway. That's not a terrible argument. I don't know if it's true.
So let me be clear. I don't know if the Biden argument is accurate or true. I just know it's a good argument. When you hear it you go oh okay that's a good argument. So let me give it to you and this will be kind of a mind for some of you. For those of you who are sure because you believe the propaganda, those of you are sure that our current energy costs are substantially — and you can determine substantially whatever that means to you — how many of you believe that you do have enough information and that is accurate and that you understand this situation and that Biden's decisions specifically have raised the price of energy today? How many of you feel confident that that really is happening? I'm seeing a lot of confidence.
All right I guess I'm contrarian on this one. I'm not. Now the Shannon Bream argument is pretty strong. The one she made which is she quoted Biden saying he was basically going to dismantle the fossil fuel industry and she says why would anybody invest, do a long-term billion dollar investment when he's trying to dismantle the thing? Why would you? That's a pretty good argument, right?
But here's the counter argument to the counter argument. Even if people had said okay we're going to go ahead and ignore Biden even though he says he's going to dismantle us, we're going to ignore him and we're going to put billions into investments for new energies and drilling and new leases and all that, would any of that made any difference today? No I don't think so. So the Democrat argument that even if everything you say about Biden is true, that he is making decisions that absolutely will change the level of availability of energy and the type in the mix, even if that's all true it takes years. It takes years. Do you think that's in the inflation number today? Some of it probably but I don't know how much and neither do you.
So let me say this. You are in a heavy propaganda topic. I don't believe there's anybody, even the experts, who quite understand the entire — I want to use the word, what's the word from accounting where your income statement is articulated into your balance sheet? What's the word for that? There's like a term of art. You know what I mean? Accrual. Now oh there's not reconciling. Right it is reconciled. Well damn it there's a cool word that I wanted to use there that would have been great. Yeah well whatever. So nobody understands this topic. So if you imagine that you do then you might be a victim of propaganda, right?
If you imagine you know that Biden's decisions changed energy prices in the short term — I think we could all agree to change in the long term because he's trying to change it in the long term. He said he would and he did things that would change it in the long term. So if we could all agree on the long term could you still agree with the Democrat argument that you're not seeing it today? That's not what's happening today because it wouldn't affect today. I know it's a pretty good argument.
Pew Research said that 71 percent of journalists are concerned about made up news. 71 percent of the people in the business, the journalists, are concerned about made-up news. And that's higher than the 50 percent of U.S. adults who say the same thing. So if you're a consumer of news, half of you are concerned that the news is fake. If you're in the business of producing news, 71 percent of you are concerned that it's fake. Who would be better informed about how much of the news is fake? The people who produce it or the people who consume it? That's right. The people who produce the news are way more concerned about how fake it is. Does that worry you? It should. It should worry you a lot. The people who know the most about it think it's worse than you do. The journalists themselves. Yep you should worry about that.
All right, don't you think it's kind of hard to fight two wars that are like opposites? So we're fighting the Biden administration is fighting the war between Ukraine and Russia. So effectively we're in that war financially anyway. And we're still fighting a war against the climate or at least the Democrats are trying to do that. And the trouble is that to fight the Ukraine war we want to squeeze Russia and not use their resources but we need those resources. So there are too many variables that are working opposite each other. So suddenly Germany is going to be using much more coal because Russia is going to give them less gas because of the war blah blah. So basically the one war makes it impossible to win the other war. You know as long as we're doing the Ukraine thing we're going to lose the climate war. So do we have to pick the war? Are we trying to fight too many wars? It's sort of a two-front war that makes it impossible to win on either front. I feel like we have to pick one. You know either win Ukraine which means go c
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razy on coal as long as it takes to make Russia irrelevant I guess. Or fight the war on the climate and let Ukraine go to Russia which is what would happen. Here's an interesting take on — again you can see this in my Twitter feed — that who wins a modern war is who has the most ammunition and that's about pretty much all there is to it. That a modern war between two modernish armies like Ukraine…
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