Peter St. Onge

They're not productive.

And they consume a fifth in Germany, probably 7% to 10% in the US.

That's of employee minutes.

But the rule of thumb in regulation is that whatever it costs you in compliance, filling out forms, it's about seven times more in terms of GDP.

So that's why I think regulations is...

kind of the big story for how you cut prices, for how you get the economy to grow.

If we held regulations to where they were in the 1950s in this country, you know, environmental regulations, labor mandates, the lawsuits, you know, there's a whole bunch of sort of regulatory handouts that are bribed into existence to give trial lawyers.

their own yachts and mistresses.

If you got rid of all of that, back of envelope, you would double the economy.

You would cut prices by 20% to 30%.

Regulations are absolutely massive.

I think if you were to rank the top interventions, the top ways that you could make the American economy prosperous,

It's it's neck and neck between getting rid of the entire income tax and rolling back regulations to 1950s levels.

And then, you know, you could argue the Fed getting rid of the Fed, which is surprisingly easy.

You just pass a law saying that Fed can't buy anything that that that's it.

It's gone.

It's irrelevant.

But anyway, those three things are just massive.

And so that's that's partly when we were having all these debates about about tariffs and

Even if nobody moves production here, even if Canada still doesn't allow American milk, you're talking like a couple percent of GDP on tariffs.