Chapter 1: What is discussed at the start of this section?
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Chapter 2: What are the implications of private credit and shadow banking?
Oh, that's a phenomenal business model. Molly, I... So they're responsible for the Nissan Altima. This is what is known as an idea that could not possibly have gone right. It's very funny because when you read the stuff from Tricolor, they're all like, oh, we're trying to help people who are underserved in markets who need cars. Oh, but here's the thing about it.
a shitty auto loan, is you know, right, you are serving an underserved community. You are serving people with bad credit who might not otherwise be able to get a car, but you're serving them by fucking them hard. And you know that. Yeah, they know that they're lying about this, right? It's just so evil. Yeah, and this is all downstream of...
you know, this is all downstream with the fact that we've built our cities around cars, right? And we built our cities around cars specifically. And this is a really fun thing.
We built our cities around cars specifically because we had created so much manufacturing capacity after World War II that like Ford and General Motors had like pumped into that they were like, we need a fucking way to make money off of all of this. And this is also, by the way, why we did the Marshall Plan. Like we rebuilt Europe to sell cars to them.
It's this terrible snowball of like induced demand and then dealing with that and then the fallout of that. Yeah. Trying to reorganize from that. Yeah. And we have destroyed the world with this. It rocks. Thank you, Henry Ford. It's so good. It's so good. We have literally like Earth is fucked.
Because of this, this is like one of the largest engines of global climate change is the fact that we had all these fucking factories after World War II and these companies didn't want to eat shit on them. So now everybody needs a car, but they can't afford one. So now we have a fake bank doing fake fucking auto loans. Yep, yep, yep. Who, by the way, and I kind of emphasize this enough, right?
The hole that we are in here is that there is, in theory, if you're going to be running a market economy, there is, like, room in it for, hey, this person has a long shot but good business idea and we need to get them money. Sure, like, there's nothing wrong with the idea of loans. Yeah. But if your whole business model is exploiting people who need loans, that's less good.
Yeah, but this is, you know, this is going one layer up from, like, this subpar model loan company, right? Yeah. The problem that we're going to hit with all of these private credit firms is that they're giving loans to just this shit, right? The things that they're giving high-risk loans to aren't like interesting businesses. They're subprime auto loan companies.
And they're like weird AI data center creation companies, right? It's like that shit. And this is where everything goes to shit because, you know, and it's something that actually wasn't really reported on very much in a lot of the coverage on these companies eating shit. But, like, what this company was doing was they were literally doing all of the 2008 stuff, right?
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Chapter 3: How does the conversation shift to the risks of AI?
And now we've reached the point where I think, oh, God, where this is the most recent news from this. And Molly, I'm just going to read you the thing from Reuters.
Quote, JPMorgan Chase, Barclays, and other Wall Street banks have started trading credit default swaps linked to flagship private credit funds run by Blackstone, Apollo Global Management, and Aries Management, the Financial Times reported on Friday. And that's a good idea for them to do?
Oh, this is really fun because now what we're doing is they're now opening the markets to bet on these things to fail. I just, I don't understand why so much of the economy is based on these bets that bad things will happen. Yeah. It's like if everything collapses, some guys are going to get so rich. If a thousand people get their cars repossessed, one guy gets so rich.
Like that's not a great way to run an economy. You know, John Maynard Keynes, a guy who is, I would argue, responsible for this. This is his fault for like stabilizing the capitalist economies in the middle of the Great Depression. But Keynes is like a welfare state guy. but he's also a capitalist.
And he has this line about how the economy shouldn't be run by a casino, to which I would be like, okay, Keynes, but like... The economy is a casino. Yeah, it's like this is your fault for not being willing to not have a market economy, right? We could achieve the dream of not having your economy be run by a casino. This is a thing that you could do. It's just that... That was a euphemism before.
I don't think he realized that we literally do have a casino. He kind of did. It's not a euphemism anymore. I'm going to necromance him and tell him about Polymarket. Oh, yeah, he would lose his mind about Polymarket. But, like, he's watching people just, like, betting on stocks, right?
And he's watching a bunch of peopleā Grab the Ouija board and tell that bitch about Kalshi.
Yeah, well, this is like we're going back in time and showing him Kalshi, and he's like, oh, fuck, okay, I am now against the market as an idea. We cannot let this come to pass. But, like, you know, this has been, like, a known issue withā
the market as a system for a long time, but it's a problem because in theory, you could try to go through and like regulate this stuff, but like investment is just gambling to some extent. Right. And when you talk to the people who believe in this stuff, they're like, well, no, you can't have stock markets without sort of equities markets.
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Chapter 4: What are the consequences of the recent attacks related to AI?
So we have to do a genocide on them. Like, No. Yeah. And this is actually one of the things I think there's two angles of this. One, you see that in the U.S. too, where people are like, well, what if we do if we do land back, then they're just going to like exterminate all the white people in the U.S. And it's like, no, that's that's that's what you did. Like I like I like. Hold on, hold on.
So then, you know, the second angle of this too is this becomes a motivating factor for colonizers. And this is just something that's true historically. If you look at the Bosnian genocide, right? The way that you get people to do a genocide is by convincing them that the people they're doing a genocide against are about to do a genocide against them.
And, you know, you see this in Bosnia, you see this in Rwanda. This is a very, very common sort of I don't even know what you call it. Like, trope feels like too weak of a word. This is a very common step in the beginning of genocide, which I don't love. Zero out of ten. Mia not pro-genocide. More news at ten. Yeah. Yeah. There's something I wanted to mention.
Regarding, I think, the application of indigeneity as a concept in Asia. You know, you mentioned the situation with the Yazidis and the Kurds. But you also see the governments of places like Indonesia and India and China and Vietnam and Bangladesh. Yeah. Yeah. not recognizing the existence of indigenous peoples within their territories.
And these countries, like most countries in the world, did not ratify the International Labour Organization Convention 169 in 1989, which was known as the Indigenous and Tribal Peoples Convention concerning the rights of indigenous peoples.
The UN's Declaration of the Rights of Indigenous Peoples, passed in 2007, would, however, be voted on approvingly by most of the world, including the same countries that haven't recognized the indigenous peoples within their borders. All four of the countries that rejected the resolution, Canada, America, Australia, New Zealand, were late to change their vote in favor of the declaration.
Of course, with their own tact on interpretations and emphases on the declaration's legally non-binding nature, as is to be expected from settler colonial societies. Yep. I'm very interested in, you know, because we do have these ethnic minorities, we do have... In the case of India, you have the pre-Indo-European groups, the tribal groups.
And if you go back to the definition of indigeneity, according to the UN, it speaks of groups which form at present non-dominant sectors of society that are determined to preserve, develop, and transmit to future generations their ancestral territories and their ethnic identity as the basis of their continued existence as people, etc., etc.
You know, it speaks of those having historical continuity with pre-invasion, pre-colonial societies that developed in their territories. They speak of groups that consider themselves distinct from other sectors of societies and all prevailing on those territories. And so by this definition, I understand that people in these Asian countries may be like, oh, we're all from this place, right?
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Chapter 5: What insights are shared about the Gaza Solidarity encampment?
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Chapter 6: What historical context is provided for UCSD's protest movements?
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Chapter 7: How are current protests at UCSD being received by the administration?
It's me, James, today. And I'm very fortunate to be joined by a member of the UCSD faculty, someone who is a professor of environmental physics at Scripps Institution of Oceanography, also teaching the critical gender studies department. And we're talking today about the disciplinary action that they are facing for participation in the Gaza solidarity encampment. So welcome to the show.
Thanks for joining us. Thank you, James. I'm really happy to be here. Yeah, it's great to have you. I'm glad we can share our platform and talk about this. So I think to begin with, you know, it's been a little while. Perhaps I know a lot of people have sort of been investigating and changing their politics in the last year or so.
So perhaps you could explain a little bit about the Gaza Solidarity encampment, the moment that came in and the role that it played in the anti-genocide of Palestinian liberation movement at UC San Diego more broadly. Yes, thanks again for this opportunity. So the encampment at UCSD was set up on May 1st, 2024.
Chapter 8: What lessons can be learned from the Palestine exception to free speech?
And that was happening in the context of encampments that were being set up at universities across the U.S. I believe that the UCSD encampment was approximately the 100th encampment set up in the U.S. at that time. There's quite a number of interesting things about kind of the whole encampment movement.
First of all, the fact that they met with such severe repression is very suggestive about how effective they were in bringing the issues related to the genocide and the occupation of Palestine. to the forefront in ways that certainly weren't happening in the U.S. at the time.
Another thing about the encampments that I found really interesting, but also, I mean, I think brilliant from an organizing perspective, is that they were very visually and viscerally recreating the conditions under which Palestinians in Gaza were living at the time and still are, having been displaced from their residences and being forced to live in these very makeshift tent encampments.
And so there was a recreation then of those conditions in a very visual way. And I think that that also was in some sense reminiscent of the shanty towns that were constructed on college campuses in the U.S. in the mid-80s in the anti-apartheid movement. So I think paying attention to some of those details, which often get lost, we start talking about, you know, riot police and so forth.
These encampments were, they weren't just, you know, a bunch of students hanging out. These were constructed encampments. and developed in a very thoughtful manner. And that was definitely the case at UCSD, as I was told by students who were participating in it, as a space to engage in education and research about the genocide and about the occupation of Palestine
as well as the ties that UCSD had to the occupation and the genocide in Palestine. So you had, and I talked to many students who were actively engaged in this, you had students sitting on their laptops doing research about UCSD's ties to weapons manufacturers, the ways that UCSD supported the discourses that were enabling the genocide and the occupation, including archaeological research.
And also, you know, there was a program associated with every day, and the students would plan teach-ins. Sometimes professors would do the teach-ins, sometimes students, sometimes community members.
There were teachings on a whole range of really interesting topics, including, of course, about Palestine, about the genocide, but also about other issues like the role of surveillance and surveillance technology in the genocide, the ecocide that was happening, continues to happen in Gaza and Palestine.
And so it was a place of amazing place of learning and research and also community engagement. So, as I said, you know, outside speakers are being brought in. Community members were coming in and participating and learning.
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