Latest / The Ben Ferguson Podcast / CJNG Erupts After Notorious Cartel Boss Falls plus Mamdani’s Socialist Rent Control Push raises Red Flags in NY

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CJNG Erupts After Notorious Cartel Boss Falls plus Mamdani’s Socialist Rent Control Push raises Red Flags in NY · The Ben Ferguson Podcast

• 0:00
  Speaker 1: Mexico has erupted into flames after the death of the
• 0:04
  Speaker 1: largest terrorist cartel boss, known as Elmentcho. Cartel Gunman had
• 0:10
  Speaker 1: begun carrying out terrorist attacks in various different states in Mexico,
• 0:15
  Speaker 1: all in response to the death of the country's most
• 0:17
  Speaker 1: powerful terrorist cartel leader. Mexico's government confirmed the death of
• 0:22
  Speaker 1: the cartel boss, which resulted from an enforcement operations how
• 0:26
  Speaker 1: they described it. Now, why did this happen in the
• 0:30
  Speaker 1: first place. It's very clear that the President's threat of
• 0:34
  Speaker 1: going after the narco terrorist cartel leaders was enough for
• 0:38
  Speaker 1: Mexico to decide they should do it on their own
• 0:41
  Speaker 1: instead of having the US involved directly. This after the
• 0:45
  Speaker 1: President clearly showed he wasn't flinching, after he declared many
• 0:50
  Speaker 1: of these individuals as terrorists, including one that we went
• 0:54
  Speaker 1: and got in Venezuela who's now an American custody, the
• 0:58
  Speaker 1: man who claimed cards that country after stealing the last election. Now,
• 1:03
  Speaker 1: this chaos began on Sunday early morning, when Cartel Gunman
• 1:07
  Speaker 1: began setting up blockades in four key states. They're controlled
• 1:13
  Speaker 1: by Elmanto's Terrace organization, the cartel known as the CJNG.
• 1:20
  Speaker 1: It's one of several cartels that have been designated as
• 1:22
  Speaker 1: a foreign terrorist organization by the US government. Now, the
• 1:27
  Speaker 1: gunmen around the country, they deployed roadblocks. Clearly they knew
• 1:31
  Speaker 1: how to do this and plan it in advance for
• 1:33
  Speaker 1: if this day ever happened. They carjacked vehicles and shot
• 1:36
  Speaker 1: innocent individuals. They set fire to buildings, grocery stores, and
• 1:41
  Speaker 1: gas stations. And they brought several different cities to standstill,
• 1:46
  Speaker 1: some of them on the border and others more in
• 1:49
  Speaker 1: the interior. Even airports being attacked and people fleeing on
• 1:54
  Speaker 1: the tarmac and running out of those airports in Guadalajara. Now,
• 1:59
  Speaker 1: all of this reaction follows the high profile military operation
• 2:03
  Speaker 1: that was carried out where military forces reportedly killed Elmento
• 2:08
  Speaker 1: during a clash with his gunmen. Several top news organizations
• 2:13
  Speaker 1: in Mexico began reporting the death of Elmento on Sunday morning.
• 2:18
  Speaker 1: Now there's also other information that points to an attempt
• 2:21
  Speaker 1: to capture one of his top lieutenants, as well as
• 2:25
  Speaker 1: additional operations aimed at decapitating the CJNG. As violence erupted
• 2:31
  Speaker 1: across the region, the US Embassy and Consulates in Mexico
• 2:35
  Speaker 1: issued a strong security warning saying quote DOE, the ongoing
• 2:40
  Speaker 1: security operations and related road blockages and criminal activity. US
• 2:46
  Speaker 1: citizens in the named locations should shelter in place until
• 2:51
  Speaker 1: further notice. Now, the death of Almentcho, as it's being
• 2:55
  Speaker 1: reported right now and the capture of top CJNG figure
• 3:00
  Speaker 1: would strengthen the credibility of Mexico's efforts as they claim
• 3:04
  Speaker 1: to fight drug cartels that has been a mandate by
• 3:07
  Speaker 1: President Donald Trump and his administration. Now, in the past,
• 3:11
  Speaker 1: Mexico had acted against other organizations like the Senelola Cartel,
• 3:15
  Speaker 1: the Gulf Cartel, and other smaller cartels, but the CJNG
• 3:20
  Speaker 1: remained largely untouched. Clearly, they were paying off the top
• 3:25
  Speaker 1: people in Mexico's government and certainly local law enforcement agencies,
• 3:31
  Speaker 1: which brings us to the other part of this story
• 3:34
  Speaker 1: and what's being reported right now. We are now being
• 3:37
  Speaker 1: told that America was actually involved in helping train many
• 3:42
  Speaker 1: of the elite fighters who actually went after the top
• 3:46
  Speaker 1: cartel members. The Mexican Army team that tried to apprehend
• 3:50
  Speaker 1: but ultimately killed, the fearsome leader of the terrorist organization
• 3:55
  Speaker 1: received what now is being described as specialized training from
• 3:59
  Speaker 1: US Navy Seals. Shortly before the operation, Breitbart Texas was
• 4:05
  Speaker 1: able to confirm from high level members of the US
• 4:08
  Speaker 1: intelligence community that Navy Seal instructors traveled to Mexico earlier
• 4:14
  Speaker 1: this month for a series of trainings aimed at targeting
• 4:19
  Speaker 1: and apprehending top level cartel figures. Earlier this month, amid
• 4:24
  Speaker 1: much controversy, Mexico's Senate voted to allow US Special Forces
• 4:29
  Speaker 1: operators to travel into the country to train their Mexican counterparts.
• 4:35
  Speaker 1: The cartels obviously were very angry about that. Instructors from
• 4:40
  Speaker 1: the US Navy Seals and other top tier groups were
• 4:44
  Speaker 1: scheduled to be in Mexico from mid February to April.
• 4:47
  Speaker 1: They first arrived were being told on February fifteenth on
• 4:50
  Speaker 1: a US Air transport with their own equipment and weapons
• 4:54
  Speaker 1: for the training seminars. The sources consulted by Bright Bart
• 4:59
  Speaker 1: Texas revealed that as soon as the top level Mexican
• 5:02
  Speaker 1: Army team was turned over to the US Navy Seal instructors,
• 5:06
  Speaker 1: they sequestered their phones and all communication devices to prevent
• 5:11
  Speaker 1: any leaks of information, something that has been an ongoing
• 5:15
  Speaker 1: issue in prior attempts to capture Almento and other cartel
• 5:20
  Speaker 1: figures in recent years. Now, while details of the training
• 5:23
  Speaker 1: and the operation remained classified, were being told that again
• 5:29
  Speaker 1: it was confirmed that Mexican military forces, working off US
• 5:34
  Speaker 1: and Mexican intelligence tracked down the cartel leader, where they
• 5:39
  Speaker 1: carried out the high level operation aimed at capturing, not killing,
• 5:43
  Speaker 1: but capturing that cartel. Later, during the operation, security forces
• 5:49
  Speaker 1: of the CJNG tried to fight off the military forces,
• 5:54
  Speaker 1: leading to a fierce firefight when Mexico's military forces killed
• 5:59
  Speaker 1: four gunmen injured three others who were airlifted to a
• 6:03
  Speaker 1: hospital for emergency care, but died en route. According to
• 6:07
  Speaker 1: information provided Mexico's military, one of the individuals who died
• 6:11
  Speaker 1: during the air transport was a man more commonly known
• 6:15
  Speaker 1: as the biggest cartel leader in Mexico. Again, this is
• 6:19
  Speaker 1: coming from the government. The death of the feared cartel
• 6:23
  Speaker 1: boss least a wave of terror in Mexico and new
• 6:28
  Speaker 1: threats that also coming from local reports. You also now
• 6:32
  Speaker 1: know that Mexican states carjacking vehicles skyrocketed, the roadblocks were set,
• 6:38
  Speaker 1: torching of buildings, and widespread terror by the criminal organization
• 6:43
  Speaker 1: reached such levels that now the US Department of State
• 6:46
  Speaker 1: is warning Americans to not travel and being clear about
• 6:52
  Speaker 1: the threats of danger that could be faced by any
• 6:54
  Speaker 1: American that goes to Mexico. Now here's the part that's
• 6:59
  Speaker 1: the most important. Maybe you or someone you know is
• 7:02
  Speaker 1: in Mexico right now, what should you do? You should
• 7:05
  Speaker 1: go to the State Department's website and look at the
• 7:09
  Speaker 1: warnings for where you are and also what to do
• 7:12
  Speaker 1: to be safe and to get out of the country. Now,
• 7:15
  Speaker 1: this may not be the last operation. Obviously, the cartels
• 7:19
  Speaker 1: are fighting back and hoping that that will make the
• 7:22
  Speaker 1: government of Mexico stop from doing anything else. But there
• 7:26
  Speaker 1: are many now that believe that there is more that
• 7:28
  Speaker 1: could be happening. And if nothing happens moving forward, then
• 7:32
  Speaker 1: there's a real threat from President Trump that if you
• 7:35
  Speaker 1: won't take out these narco terraces, America will. So you
• 7:39
  Speaker 1: can either do it yourself or will do it for you.
• 7:42
  Speaker 1: One thing is for sure, the President of United States
• 7:45
  Speaker 1: of America will be talking about this in the State
• 7:48
  Speaker 1: of the Union. Israel is a very hot topic right now,
• 7:52
  Speaker 1: and with so many opinions and emotions surrounding it, it
• 7:55
  Speaker 1: can feel hard to know where to start. The Bible
• 7:57
  Speaker 1: tells us, I will bless those who bless you. That
• 8:01
  Speaker 1: isn't just a comforting promise, it's a clear calling from God.
• 8:05
  Speaker 1: And today, with anti Semitism rising around the world, that
• 8:09
  Speaker 1: calling is more urgent than ever. At a time when
• 8:11
  Speaker 1: Jewish communities are experiencing more hostility, more threats, and more
• 8:16
  Speaker 1: violence than ever, Christians have a powerful opportunity to respond
• 8:20
  Speaker 1: with God's love to say you are not alone. When
• 8:24
  Speaker 1: Christians choose to bless Israel, we're not entering a political issue.
• 8:28
  Speaker 1: We're honoring the root of our faith and standing against hatred.
• 8:32
  Speaker 1: Supporting Israel is more than a belief, it's a biblical mandate.
• 8:36
  Speaker 1: And by partnering with the International Fellowship of Christians and Jews,
• 8:40
  Speaker 1: you can push back against darkness and be a light
• 8:43
  Speaker 1: to God's people. Learn how you can bless Israel and
• 8:46
  Speaker 1: be blessed in return. Visit IFCJ dot org today. That's
• 8:51
  Speaker 1: IFCJ dot org today. Be a blessing live in the world.
• 8:55
  Speaker 1: Answer the call. Around one point thirty am, a twenty
• 8:59
  Speaker 1: one year old man from North Carolina approached the secure
• 9:02
  Speaker 1: perimeter of Marlago and Palm Beach, Florida. According to law enforcement.
• 9:08
  Speaker 1: He was armed with a shotgun and also had a
• 9:11
  Speaker 1: gasoline canister with him. Secret Service agents in a Palm
• 9:15
  Speaker 1: Beach County Sheriff's deputy confronted him near the north gate
• 9:19
  Speaker 1: area of the property. That is where officers ordered him
• 9:22
  Speaker 1: to drop the weapon. Authorities say he put down the
• 9:26
  Speaker 1: gasoline can but then raised a shotgun in what they
• 9:29
  Speaker 1: described as a firing position. At that point, secret Service
• 9:33
  Speaker 1: agents and the responding deputy opened fire. The suspect was
• 9:38
  Speaker 1: killed at the scene. Now, importantly, President Trump was not
• 9:42
  Speaker 1: at Marlago at the time. He and the First Lady
• 9:45
  Speaker 1: were in Washington, d C. No law enforcement officers were
• 9:50
  Speaker 1: injured in Marlago as well. Now, the FBI is now
• 9:54
  Speaker 1: leading that investigation. They're reviewing the bodycam footage, the surveillance video,
• 10:00
  Speaker 1: and evidence from the scene. As of now, officials have
• 10:03
  Speaker 1: not announced a confirmed motive, and there's no indication of
• 10:07
  Speaker 1: a broader threat at this time. Now, this appears to
• 10:10
  Speaker 1: have been a rapid security response to an armed individual
• 10:15
  Speaker 1: breaching a protected perimeter. Another assassination attempt on President Donald Trump.
• 10:21
  Speaker 1: Now here's more of what Fox News had to say
• 10:24
  Speaker 1: about this incident.
• 10:25
  Speaker 2: And killed an armed man who unlawfully entered the perimeter
• 10:30
  Speaker 2: at mar A Lago early this morning, one point thirty
• 10:32
  Speaker 2: this morning. The Associated Press is out with some new
• 10:35
  Speaker 2: details right now. They have named and we have confirmed
• 10:38
  Speaker 2: the name of the suspect, twenty one year old Austin
• 10:41
  Speaker 2: Tucker Martin. According to the Associated Press and this bulletin
• 10:46
  Speaker 2: that just crossed he was reported missing by his family
• 10:49
  Speaker 2: a few days ago. Investigators believe he headed south and
• 10:54
  Speaker 2: picked up a shotgun along the way, and they think
• 10:56
  Speaker 2: that because they found a box for the shotgun in
• 11:00
  Speaker 2: his car. The FBI is right now asking people that
• 11:03
  Speaker 2: live near mar A Lago to check their doorbell cameras,
• 11:07
  Speaker 2: check any cameras that they have in their yards so
• 11:10
  Speaker 2: they can figure out exactly how this guy got into
• 11:13
  Speaker 2: the area. But it is now believed, according to the AP,
• 11:16
  Speaker 2: that he might have piggybacked behind a vehicle entering mar
• 11:21
  Speaker 2: A Lago lawfully when the gate opened.
• 11:25
  Speaker 1: Now, as we talk about another security incident at mar
• 11:28
  Speaker 1: A Lago, it's important to remember this isn't the first
• 11:31
  Speaker 1: serious threat against President Donald Trump. So let me just
• 11:34
  Speaker 1: walk you through the major assassination attempts and plots that
• 11:37
  Speaker 1: have already targeted Donald Trump over the last couple of years.
• 11:42
  Speaker 1: You go back to July thirteenth of twenty twenty four
• 11:45
  Speaker 1: in Butler, Pennsylvania. That was the most serious and shocking
• 11:49
  Speaker 1: attempt during that campaign rally in Butler, a gunman opened
• 11:53
  Speaker 1: fire from a rooftop outside the security perimeter. President Trump
• 11:58
  Speaker 1: was struck in the ear by the bullet. One rally
• 12:01
  Speaker 1: attendee was killed and others were injured. Secret Service agents
• 12:06
  Speaker 1: rushed the stage, shielding the President and evacuating him within seconds,
• 12:10
  Speaker 1: but not before the President put his hand in the
• 12:13
  Speaker 1: air and yelled fight, Fight Fight. The shooter was killed
• 12:17
  Speaker 1: by law enforcement, and to be clear, that was one
• 12:20
  Speaker 1: of the closest calls in modern presidential history. You fast
• 12:25
  Speaker 1: forward to September of twenty twenty four the Fida golf
• 12:29
  Speaker 1: course incident. Just weeks later, there was another serious security scare.
• 12:34
  Speaker 1: A suspect armed with a rifle was spotted near Trump's
• 12:36
  Speaker 1: golf course. Secret Service agents identified the threat and engaged
• 12:41
  Speaker 1: before any shots were fired at Donald Trump. The suspect
• 12:44
  Speaker 1: was apprehended and authorities later described as another credible assassination
• 12:49
  Speaker 1: attempt that was stopped before it escalated. In addition to
• 12:55
  Speaker 1: those two high profile twenty twenty four insidants. There had
• 12:59
  Speaker 1: been multiple individuals over the years arrested for traveling with
• 13:03
  Speaker 1: weapons towards Trump rallies, making credible online threats, attempting to
• 13:08
  Speaker 1: breach security perimeters where the president was, and also sending
• 13:13
  Speaker 1: suspicious packages. Most of those were intercepted before they became
• 13:17
  Speaker 1: active attacks, thanks to the Secret Service, intelligence and law enforcement.
• 13:23
  Speaker 1: But then there's the bigger context of this. Why is
• 13:26
  Speaker 1: the left so radicalized and why do they have so
• 13:29
  Speaker 1: much hatred towards Donald Trump that they want him killed.
• 13:33
  Speaker 1: We've seen this over the last few years. There's a
• 13:35
  Speaker 1: dramatic increase in the threats against Donald Trump. That twenty
• 13:40
  Speaker 1: twenty four rally shooting was historic, and things didn't calm
• 13:45
  Speaker 1: down afterwards. Things have actually gotten worse. Security around Trump
• 13:50
  Speaker 1: has remained extremely tight ever since the Butler attack, and
• 13:54
  Speaker 1: every incident, including the recent Marlago situation, is treated with
• 13:58
  Speaker 1: maximum seriousness because of that history. One thing that is
• 14:03
  Speaker 1: for sure, the White House is doing everything they can
• 14:06
  Speaker 1: to work with local law enforcement and the brave men
• 14:09
  Speaker 1: and women with a Secret Service to keep Donald Trump
• 14:13
  Speaker 1: safe as he possibly can be. It's a new year
• 14:16
  Speaker 1: twenty twenty six. You've probably heard the name bitcoin and cryptocurrency.
• 14:20
  Speaker 1: So the question so many people have is is it
• 14:23
  Speaker 1: safe and is it something that I should be invested in.
• 14:27
  Speaker 1: It's a question I want to get answered for you
• 14:29
  Speaker 1: today in joining me now to talk about that as
• 14:31
  Speaker 1: a co founder of Bitcoin IRA, Chris Klin, Chris, I
• 14:34
  Speaker 1: appreciate you being here, and it is pretty cool to
• 14:38
  Speaker 1: see what's happened in the crypto space. It has become normal.
• 14:41
  Speaker 1: It now can be a part of your IRA. The
• 14:43
  Speaker 1: federal government has changed the rules. They're accepting cryptocurrency like
• 14:48
  Speaker 1: it's a stock.
• 14:49
  Speaker 3: Yes, absolutely, and it's it's really driven itself into a
• 14:51
  Speaker 3: mainstream space. I remember a decade ago when we first
• 14:54
  Speaker 3: started Bitcoin IRA and everybody was like, are you crazy kid?
• 14:58
  Speaker 3: You're putting bitcoin in retirement accounts? Is this even possible?
• 15:01
  Speaker 3: And you fast forward to where we're at today, where
• 15:04
  Speaker 3: countries are building stockpiles, corporations are building stockpiles. Strategy, for example,
• 15:08
  Speaker 3: is pretty much its entire business models around this. It's
• 15:11
  Speaker 3: a piece of diversification that every major player in the
• 15:14
  Speaker 3: space and economics is looking at, and so should too.
• 15:17
  Speaker 3: The individual sovereignty of the average American looking to put
• 15:19
  Speaker 3: it inside of their retirement.
• 15:21
  Speaker 1: You guys actually have a really cool stat that you
• 15:23
  Speaker 1: told me about at dinner, and that is that your
• 15:25
  Speaker 1: clients seventy five percent were born before nineteen seventy six.
• 15:30
  Speaker 1: So the idea that you may be missed out on this,
• 15:33
  Speaker 1: or if you're a little older, it's a young man's
• 15:35
  Speaker 1: game in crypto, that is also just not true.
• 15:38
  Speaker 3: That's definitely one of the myths I wanted to come
• 15:39
  Speaker 3: to bunk with you and your audience isn't This isn't
• 15:42
  Speaker 3: our grandfather's economy and grandfathers are buying bitcoin and putting
• 15:46
  Speaker 3: it inside their retirement for long term holdings, especially now
• 15:49
  Speaker 3: that they're thinking about inheritance and handing some of these
• 15:51
  Speaker 3: things down. But yeah, that was actually shocking to me.
• 15:53
  Speaker 3: We've discovered that in twenty eighteen that seventy five percent
• 15:56
  Speaker 3: of them were older than my parents' generation. And what
• 16:00
  Speaker 3: we found from surveying all of them was this is
• 16:02
  Speaker 3: something that they think is new age and that I
• 16:04
  Speaker 3: think almost every American, especially older ones, has a genuine
• 16:08
  Speaker 3: concern of watching what's happened to the US dollar over
• 16:10
  Speaker 3: the last four or five decades. And there's always been
• 16:13
  Speaker 3: gold and silver's a potential hedge, land, real estate. These
• 16:16
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• 16:19
  Speaker 3: digital and it's different, it's scarce. There's only twenty one
• 16:22
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• 16:25
  Speaker 3: a half million have been mined so far, and you
• 16:28
  Speaker 3: and I actually won't live, our kids will probably live
• 16:30
  Speaker 3: to see the last one get mined. This is something
• 16:32
  Speaker 3: you know. We're in a world of abundance since I
• 16:33
  Speaker 3: was born in nineteen eighty five. It's abundance. We just
• 16:35
  Speaker 3: printed and printed and printed more. This is a moment
• 16:37
  Speaker 3: in time where we may be able to revert back
• 16:39
  Speaker 3: to scarcity, and there'll be a day we're just saying
• 16:41
  Speaker 3: I have one Bitcoin will be life changing.
• 16:43
  Speaker 1: Chris. I hope a lot of people that are watching this,
• 16:46
  Speaker 1: you guys, will go and find out more. It is
• 16:48
  Speaker 1: amazing what you can do in your retirement account now,
• 16:51
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• 16:55
  Speaker 1: more right now at bitcoinira dot com, slash ben that's
• 17:00
  Speaker 1: bitcoin ira dot com slash ben and see what cryptocurrency
• 17:05
  Speaker 1: can do for your portfolio. The new mayor of New York, Mondani,
• 17:10
  Speaker 1: has got a socialist push for rent controls that are
• 17:13
  Speaker 1: about to wreck the New York City housing market, calling
• 17:18
  Speaker 1: it rent controlled two point zero. And the new political
• 17:21
  Speaker 1: push that's brewing in New York City is to force
• 17:24
  Speaker 1: people out. The center of it is the mayor and
• 17:28
  Speaker 1: his unapologetic calls for sweeping rent controls. Now, he's pitching
• 17:34
  Speaker 1: this plan as a moral crusade. He's framing it as justice,
• 17:40
  Speaker 1: and he's selling it as salvation for renters crush by
• 17:44
  Speaker 1: what he described as sky high housing costs that are
• 17:48
  Speaker 1: un American. Yet he's actually a socialist. So what is
• 17:52
  Speaker 1: the solution? He says. It's about making New York City
• 17:56
  Speaker 1: more affordable by forcing home owners or landlords or property
• 18:01
  Speaker 1: owners to foot the bill or subsidize other people's rent. Now,
• 18:07
  Speaker 1: this is a promise. The mayor said, He's going to
• 18:10
  Speaker 1: pay off on, freeze the rents, and save the people.
• 18:14
  Speaker 1: There's even that catchy slogan. Mundani's message is simple and
• 18:19
  Speaker 1: politically powerful. Rent, he says, is too high. Landlords are greedy,
• 18:25
  Speaker 1: developers are profiting, and the government must step in and
• 18:29
  Speaker 1: stop it all. His proposal expands and titans rent controls
• 18:34
  Speaker 1: across the entire city, limiting how much landlords can increase rent,
• 18:40
  Speaker 1: restricting market adjustments, and increasing penalties for owners who violate
• 18:47
  Speaker 1: what he describes as the new caps. Now, this is
• 18:50
  Speaker 1: all being celebrated by the radical left because they say
• 18:54
  Speaker 1: it sounds compassionate to voters, it sounds bold, it sounds
• 18:59
  Speaker 1: like someone finally doing something. But the economics don't respond
• 19:04
  Speaker 1: to those slogans at all. So what happens when government
• 19:08
  Speaker 1: caps prices? Economists are worried and warning that we've seen
• 19:13
  Speaker 1: this before, and they say that many are actually left behind.
• 19:18
  Speaker 1: Many hardworking people don't get the money they need. And
• 19:21
  Speaker 1: when you have these strict rent controls distorting the housing market,
• 19:26
  Speaker 1: it's a disaster for the free market and many people
• 19:29
  Speaker 1: that own those homes. Now, if landlords can't raise rents
• 19:33
  Speaker 1: to match rising costs, then they cut maintenance. If developers
• 19:38
  Speaker 1: can't make projects penciled out, they stop building. And if
• 19:43
  Speaker 1: investors fear political risk, what do they do? They pull capital.
• 19:48
  Speaker 1: If supply shrinks while demand stays high, then the shortage
• 19:53
  Speaker 1: and the price war actually worsens on the people that
• 19:56
  Speaker 1: need to help the most. Now, New York already a
• 20:00
  Speaker 1: housing supply crisis. The city needs more housing, not less,
• 20:06
  Speaker 1: But these aggressive rent controls can well do the complete
• 20:10
  Speaker 1: opposite and can behead construction at the exact moment when
• 20:16
  Speaker 1: more units are desperately needed. Now New York has already
• 20:20
  Speaker 1: experimented with versions of this new policy literally for decades
• 20:25
  Speaker 1: after the twenty nineteen rent law expansion, there was measurable
• 20:30
  Speaker 1: effect declining renovation of rent stabilized units, smaller landlords struggling
• 20:36
  Speaker 1: to refinance buildings, reduce investment in multifamily housing, and reports
• 20:41
  Speaker 1: of units being left vacant because upgrades no longer made
• 20:45
  Speaker 1: any financial sense at all, turning nice places into what
• 20:51
  Speaker 1: now is described as well slow lords. Reports of these
• 20:56
  Speaker 1: units being left vacant then cause crime to skyrocket, as
• 21:00
  Speaker 1: well as drugs to well infiltrate buildings, and when policymakers
• 21:05
  Speaker 1: tighten the screws further, those pressures actually intensified. Housing markets
• 21:12
  Speaker 1: are a fragile ecosystem. You can't squeeze one side without
• 21:16
  Speaker 1: consequences on the other. And the supply chain problem, well,
• 21:20
  Speaker 1: that's what no one wants to talk about in the
• 21:23
  Speaker 1: Mayor's office. New York's real crisis isn't simply greedy landlords.
• 21:28
  Speaker 1: It's simple math. Demand is enormous, The land is scarce,
• 21:34
  Speaker 1: construction costs are in an all time high, and regulations
• 21:37
  Speaker 1: are complex, making it cost even more to build. Also,
• 21:41
  Speaker 1: approval timelines in New York City are some of the
• 21:44
  Speaker 1: slowest in the entire country. Now, if you freeze prices
• 21:49
  Speaker 1: but don't increase supply, you don't solve the problem at all.
• 21:53
  Speaker 1: You create a massive housing shortage. And then that doesn't
• 21:58
  Speaker 1: help the working families mind dot. And he is claiming
• 22:00
  Speaker 1: he's helping, it actually pushes him into fewer available units,
• 22:05
  Speaker 1: longer waitless and deteriorating housing stock, as well as deteriorating
• 22:11
  Speaker 1: housing that is of quality standards that he claims he wants.
• 22:16
  Speaker 1: And when private investment retreats, government is rarely fast enough
• 22:21
  Speaker 1: or efficient enough to fill the gap. But here's the
• 22:24
  Speaker 1: political incentive. Democrats want to force people out of New
• 22:29
  Speaker 1: York City, especially those with money. And that's what this
• 22:33
  Speaker 1: is actually all about. It's really just rent control, and
• 22:37
  Speaker 1: it's rent control for them to help the people that
• 22:40
  Speaker 1: voted for them the most while hurting many others. The costs, however,
• 22:45
  Speaker 1: they unfold Gradually, Fewer new projects are announced, capitals shifting
• 22:49
  Speaker 1: to other states. Property values eventually decline. When you guessed it.
• 22:54
  Speaker 1: Crime skyrockets, and smaller landlords are forced to sell or
• 22:59
  Speaker 1: they default on what they already own. Infrastructure aging is
• 23:04
  Speaker 1: also a massive problem without reinvestment, and when there's no
• 23:08
  Speaker 1: incentive to reinvest in the property, well then you just
• 23:11
  Speaker 1: get bad, old aging properties and then eventually the prices
• 23:16
  Speaker 1: come down, but no one wants to live there anymore.
• 23:19
  Speaker 1: Those consequences don't show up in the campaign slogans of Mundani.
• 23:24
  Speaker 1: They show up five years later, after what they're doing
• 23:27
  Speaker 1: now becomes a reality, and then who gets hurt first? Ironically,
• 23:32
  Speaker 1: the exact people that rent control claims to protect often
• 23:36
  Speaker 1: fall to the unintended consequences. Renters struggling to find any
• 23:40
  Speaker 1: units to live in, new arrivals complete in an even
• 23:44
  Speaker 1: tighter market, and middle class families getting squeezed into uncontrolled
• 23:49
  Speaker 1: segments where prices can spike even faster. Buildings age faster
• 23:54
  Speaker 1: without those upgrades. And all of this has happened before,
• 23:59
  Speaker 1: so why is and Donnie getting away with it this time?
• 24:02
  Speaker 1: It's pretty simple. When you offer someone a cheaper bill
• 24:06
  Speaker 1: than what they're expecting to pay, people forget what happened
• 24:09
  Speaker 1: in the past. New York's housing market isn't just about apartments.
• 24:13
  Speaker 1: It's also tied to property tax revenue, pension fund investments
• 24:18
  Speaker 1: for many of the government workers that are in unions,
• 24:21
  Speaker 1: construction jobs that start to disappear, banking exposure to multifamily
• 24:26
  Speaker 1: loans which then people don't want to give, and neighborhood
• 24:30
  Speaker 1: revitalization that just disappears. If investment confidence drops, the ripple
• 24:36
  Speaker 1: effects spread very quickly, which brings us to the housing
• 24:40
  Speaker 1: downturn that they say they don't want. It no longer
• 24:43
  Speaker 1: stays isolated, but it cascades across all of New York City. Now,
• 24:48
  Speaker 1: if only there was a warning that this is going
• 24:51
  Speaker 1: to happen, Well, the warning has happened before, literally in
• 24:54
  Speaker 1: New York City. And the big question now for so
• 24:57
  Speaker 1: many voters in New York and outside or in fact
• 25:00
  Speaker 1: and the entire country, is this, we are at a
• 25:03
  Speaker 1: crossroads with ideas. Do you fall to the communist idea,
• 25:07
  Speaker 1: which is everyone that is successful or builds something or
• 25:11
  Speaker 1: grows something is somehow evil and it should be taken
• 25:14
  Speaker 1: from them, or it should be regulated, or their advancement
• 25:18
  Speaker 1: should stop. Should everything you do have government involvement? Now
• 25:22
  Speaker 1: New York is at a crossroads. Do they try to
• 25:25
  Speaker 1: control prices more aggressively by killing the market, or do
• 25:29
  Speaker 1: they focus on dramatically increasing supply. One approach is about freedom,
• 25:34
  Speaker 1: the other eliminates it. And as this continues to move forward,
• 25:40
  Speaker 1: the question that everyone should be asking is do you
• 25:42
  Speaker 1: really want the government to be in charge in what
• 25:46
  Speaker 1: you live, how you live, what rent you pay? Or
• 25:50
  Speaker 1: should we go back to the private sector and say
• 25:53
  Speaker 1: the private sector gets aside the price The people, by
• 25:57
  Speaker 1: the way, are the private sector. If I don't like
• 26:00
  Speaker 1: the price of rent, I have options. But when the
• 26:04
  Speaker 1: government gets involved, does it really help anything at all?
• 26:07
  Speaker 1: Probably not, based on what we know in history. So
• 26:11
  Speaker 1: here we are at the crossroads again with a socialist idea. Unfortunately,
• 26:16
  Speaker 1: there's a very good chance it's going to become another
• 26:18
  Speaker 1: disaster of the Democrats, and the question will be will
• 26:22
  Speaker 1: other cities pay attention, don't forget Share this podcast wherever
• 26:26
  Speaker 1: you can with your family and your friends, and I'll
• 26:28
  Speaker 1: see you back here tomorrow.