Doug Casey's Take

Novelist and essayist James Howard Kunstler (The Long Emergency, the World Made by Hand series) joins Doug Casey and Matt Smith. Kunstler expects prosecutions after the midterms, starting with John Brennan's grand jury appearance. He also says the US military won't let radicals take the levers of power, and that the country has slid from high trust to no trust. Doug and Kunstler clash over the Iran war. Also: Europe tottering, why US shale is more fragile than it looks, what Kunstler got wrong in The Long Emergency, Israel and Gaza, Ukraine and NATO, and the deep state. Kunstler's Substack: https://www.kunstler.com Find us at https://crisisinvesting.com New Orleans Investment Conference, Oct 28-31: https://neworleansconference.com/casey-2/ 00:00 Welcome James Howard Kunstler 01:08 Will Anyone Face Justice? 07:11 Brennan Before A Grand Jury 13:39 Bondi, Bongino, And Silence 18:42 Will The Military Step In? 22:35 Two Flavors Of Authoritarianism 26:14 Civil War And A Trump Bet 28:54 Europe Is Tottering 31:10 Iran, Oil, And Shale 37:31 Doug Pushes Back On Iran 41:43 Islam And Europe's Future 45:39 Invasion, Hochul, And New York 49:55 Where Are The Men Of Quality? 51:41 Trump The Paradox 55:44 Markets, Bonds, And The Carry Trade 1:01:11 Kunstler On Gold 1:02:58 The Long Emergency, 20 Years On 1:05:15 From High Trust To No Trust 1:07:59 Half The Country Is Insane 1:12:13 A Steak Of Justice 1:15:13 Is Trump An Authoritarian? 1:18:37 Israel, Gaza, And Tucker 1:24:39 The Iran Blockade 1:26:08 Ukraine And Leaving NATO 1:28:11 Brennan And The Deep State 1:31:54 Wrap Up

Find us at www.crisisinvesting.com Doug and Matt discuss escalating Yemen-Houthi conflict impacts, including disruption of Saudi oil infrastructure and potential wider geopolitical fallout as oil supplies to Europe tighten and fuel prices rise. They pivot to U.S. policy and market fragility, criticizing short-term political decision-making (including possible diesel export bans), warning about deficits, rising rates, and a looming financial crisis, while outlining a defensive investment stance favoring gold, agriculture, and energy. They debate AI fear narratives as regulatory capture, question returns on massive AI capital spending, and consider state intervention if major firms fail, noting cheaper Chinese models undercut U.S. frontier labs. Viewer Q&A covers taking state money as a moral dilemma, risk management without stop-losses in illiquid resource stocks, prospects for conflict in Latin America vs. Africa/Middle East, evaluating moral character, Botswana's diamond dependence, legal system critiques, offshore vs. onshore precious-metals storage, private deal drawbacks, and future drone warfare shifting to swarms and eventually nanotechnology. 00:00 News and Viewer Qs 00:08 Houthis and Saudi Setback 06:03 Oil Shock and Markets 08:22 Diesel Export Ban Fallout 10:02 Trade Threats and Politics 13:25 Rates Debt and Bear Case 15:15 AI Fear and Regulation 18:35 China Models and Bubble Risk 21:29 Taking Money from State 24:52 Managing Trades Without Stops 27:25 Wars Latin America Outlook 28:14 Testing Character in Relationships 34:19 Botswana and Diamond Risk 35:59 Legal System as Slavery 37:02 Battle Bank vs Offshore Vaults 38:19 Private Deals Pros and Cons 40:04 Drones Swarms and Nanobots 44:11 Wrap Up and Italy Trip

Matt and Doug discuss the rapid buildout of AI data centers, local backlash, and Doug's view that the frenzy reflects an unprecedented stock-market "hyper-bubble" led by major tech and AI firms. Doug argues most data-center capacity is used to surveil and influence citizens more than to "manipulate atoms" in the real world, making it a threat to personal freedom, and notes the trend runs counter to technology historically becoming smaller, cheaper, and more dispersed. They explore whether AI could become "alive" and indistinguishable from humans (via the Turing test idea), cite concerns from an Anthropic researcher about self-improving AI, and focus on innovation driven by "love and war," including robots, sex bots, and drone-heavy modern warfare, warning of major societal disruption regardless of outcomes. 00:00 AI Data Center Backlash 01:28 Tech Bubble Warning 04:30 What Data Centers Do 05:21 Surveillance And Control 07:15 Tech Trends Reversed 09:13 Trillions And Centralization 12:00 Bubble Predictions Ahead 13:56 AI Becoming Alive 16:42 Overlords And Lab Fears 17:58 Love And War Robots 21:09 Drones And Autonomy 25:08 Society Upended Fast 31:00 Utopia Versus Dystopia 35:08 Milestones To Watch 37:02 Closing Thoughts

Find us at www.crisisinvesting.com Find @michaelyon at https://substack.com/@michaelyon Michael Yon the "Great Game": Chokepoints, Hydraulic Warfare, and Where Conflict Spreads Next The host interviews Michael Yon from Japan as he prepares for his baby's imminent birth, briefly discussing Japanese traditions around the kiri (paulownia) tree, then shifts to geopolitics and Yon's view of a global "great game" centered on routes, resources, and information warfare. Yon says the Strait of Hormuz is effectively closed and argues conflicts are interconnected, predicting flashpoints including the Falklands/Malvinas involving Argentina, possible spillover into Brazil and Uruguay, and wider fighting affecting Europe and the North Sea. He emphasizes hydraulic warfare, describing how dams on the Nile (GERD in Ethiopia), Euphrates (Atatürk Dam), Tigris (Mosul Dam), and China's Three Gorges could be used for famine and destruction. He also discusses Tibet/Nepal flood events, chokepoints like Suez, Gibraltar/Ceuta, Bab-el-Mandeb, Panama, and Malacca, plus language, migration, intoxicants, music, demographic, and economic warfare. 00:00 Morning Intro in Japan 00:32 Baby Due Soon 01:38 Kiri Tree Tradition 04:16 Hormuz and Global War 05:48 South Atlantic Flashpoints 08:15 Nepal Disaster and Tibet 13:24 Hydraulic Warfare Explained 15:13 Egypt and the Nile Dams 29:45 Turkey Iraq and China Dams 34:28 Prayer Wheel Spycraft 36:35 Local Flood Risks and Drought 38:53 Ceuta Flashpoint 39:32 Gibraltar Chokepoint History 41:16 Phosphate Power Politics 41:43 Global Chokepoints Strategy 45:05 Florida And Brazil Predictions 48:22 Ceuta Migrants As Weapon 51:32 Language Warfare Morocco 56:27 Books Burned And Forecasts 59:17 Safe Havens And Zionism 01:02:49 Cults And Empire Origins 01:05:51 Warfare Taxonomy Explained 01:12:36 Corporate Superstructure Wrap 01:15:01 Closing Thanks And Anecdote

Find us at www.crisisinvesting.com Find Bill at https://substack.com/@cgpodcast The U.S. Military Is a Trillion-Dollar Paper Tiger—Drones, Carriers, and Strategic Failure The hosts interview retired U.S. Army officer and military historian Bill Buppert, fellow at the Libertarian Institute and host of the Chasing Ghosts podcast, about U.S. military shortcomings and strategic failures since 1945. Buppert argues the Pentagon fields expensive "exquisite platforms" that are unfit for 21st-century peer conflict, citing lost influence in the Middle East and Africa and recurring defeats or stalemates in Iraq and Afghanistan. He critiques procurement and consolidation after the 1993 "Last Supper," and highlights troubled systems including the Zumwalt, Littoral Combat Ship, Ford-class EMALS, aircraft carriers, and the F-35's low readiness rates. He emphasizes the revolution of cheap FPV/UAV warfare, salvo competition in air defense, depleted munitions stockpiles (including Stingers), limited U.S. homeland missile defense, and vulnerabilities such as container-launched drones. The conversation also covers Ukraine's prospects against Russia, NATO red lines, Iran's terrain and history, and the importance of considering moral injury in war. 00:00 Meet Bill Buppert 01:52 Paper Tiger Pentagon 04:56 Iraq War Blowback 06:24 Rakes and Stupidity 10:22 Bureaucracy and Budgets 12:05 Navy Procurement Fails 14:05 Carrier and EMALS Risks 18:49 Drones Change Warfare 24:13 Defense Industry Monopoly 27:20 Salvo Competition IAMD 31:46 Carriers vs China Math 36:28 F-35 Readiness Disaster 39:56 Homeland Missile Defense Limits 42:58 Smuggled Nukes and Drones 44:22 Homeland Attack Scenarios 46:06 Civil Defense Blind Spot 47:12 Empire Mindset and 9/11 48:25 Bring Policy Home 51:14 Bureaucracy and Defense Waste 53:07 Drones Change Warfare 54:43 Why COIN Fails 56:58 Ukraine Forecast and NATO 59:57 Iran Nukes and Regional Power 01:08:09 Homeschooling and Trades 01:11:29 Iran Terrain and History 01:14:12 Moral Injury and Farewell

Find us at www.crisisinvesting.com The hosts discuss the death of Cambridge professor Jason Arday, describing him as Cambridge's youngest Black full professor and alleging his career was built on fabricated claims and widespread plagiarism, with media framing his death as a tragedy potentially linked to press scrutiny. They argue plagiarism and DEI bureaucracy are widespread in academia and connect this to the student-debt crisis, citing 9 million borrowers in default and noting shifts from COVID-era payment freezes to paused collection tools. The conversation broadens to rising consumer debt, buy-now-pay-later growth, and U.S. fiscal strain, including $1.3 trillion annual interest expense and $40 trillion owed, warning of defaults or bailouts. They also cover migrant pressure on Spain's Ceuta and recommend Jean Raspail's The Camp of the Saints. Finally, they debate Peter Diamandis' "universal high income" optimism amid AI/robotics and conclude with bullish moves in small-cap resource stocks and extreme commodity undervaluation versus equities. 00:00 Jason Arday Death 00:56 Fraud And Plagiarism 02:35 Media Reaction Debate 04:34 Academia DEI Bloat 06:14 Student Loan Defaults 08:47 Debt And Deflation Fears 11:23 Ceuta Migrant Crisis 13:47 Camp Of The Saints 15:35 Diamandis High Income 19:41 Robots And Scarcity 21:52 Resource Stocks Rally 24:31 Wrap Up And Q&A

Find us at www.crisisinvesting.com Find Col. Douglas MacGregor at www.macgregorwarrior.substack.com https://www.youtube.com/@macgregorwarriordiplomacy and https://nationalconversation.org/ No Existential Threat from China/Russia—America's Real Crisis Is Internal In a wide-ranging discussion, Col. Douglas MacGregor argues there are no existential military threats to the United States from China or Russia, contending the most serious dangers come from instability and organized crime in Mexico and the Caribbean Basin, weakened social cohesion, mass migration, and loss of American identity. He criticizes U.S. and NATO leadership over Ukraine, predicts Russia will ultimately defeat Ukraine, and calls Ukraine a "zombie state," while disputing portrayals of Putin as Hitler. MacGregor says defending U.S. borders and reducing overseas "forward presence" are essential in an age of precision missiles, and warns financial manipulation is postponing an inevitable economic reckoning driven by massive public and private debt. He claims the U.S. government is acting against Americans' interests, describes "Israel first" influence in Washington, and expects renewed action against Iran that could exhaust remaining U.S. capacity, while forecasting major geopolitical realignments in the Middle East. 00:00 Biggest Threats Today 01:40 No Military Existential Threat 04:17 Ukraine War Reality Check 05:34 Putin Hitler Narrative 06:14 Son Visits Russia 08:22 Why Russia Moves Slowly 11:30 Ukraine as Zombie State 12:49 Border Security Focus 15:15 End Expeditionary Warfare 17:33 Demographics and Migration 18:19 Army on the Border 20:30 American Identity Erosion 23:08 Immigration and Prosperity 24:46 Europe Identity Rebound 30:35 Assimilation or Collapse 31:55 Scarcity and Education 40:29 Government Not Ours 41:12 Israel First Policies 45:19 Rural Urban Civil Strife 48:20 Hybrid American Identity 49:20 Executive Power Creep 50:01 Historic Strongmen Examples 52:48 Trump and Donor Control 55:04 Corruption and Cromwell Fix 56:12 Midterms and ICE Backlash 58:10 Scarcity and Revolution Risks 01:00:52 Institutional Decay and Youth 01:05:31 Debt Reckoning and Vacuum 01:10:40 Iran War Paths and Alliances 01:17:02 Gaza as Regional Catalyst 01:18:02 Where to Follow MacGregor 01:19:08 Military Reform and Four Stars 01:24:57 National Conversation Closing

Find us at www.crisisinvesting.com Doug and Matt discuss headlines and subscriber questions, starting with a survey claiming 30% of Americans admit to shoplifting and what that says about social trust, morality, and societal decline. They talk about New York's worsening conditions, Trump's announced Saudi nuclear deal and subsequent reversal, and a House-passed NDAA provision (Section 219) calling for deeper US-Israel military/intelligence integration, which they argue signals late-stage empire and foreign influence via AIPAC. They critique Trump's "golden age" claims, note rising yields and escalating Middle East and Ukraine-Russia risks, and comment on Trump family wealth. Q&A topics include Doug's favorite opera (Wagner, Gershwin), sci-fi recommendations (golden-age authors; The Diamond Age), whether digital assets/stablecoins can prolong the debt cycle, a film about vigilantism and mass migration, coal markets and coal's importance, Israel's actions and Gaza/Lebanon, and the possibility of deflation alongside inflation using entropy concepts. 00:00 Shoplifting Shock Stat 01:17 Thieves and Morality 03:58 Luxury Beliefs Debate 04:57 New York Backslide 06:53 Saudi Nuclear Deal 10:05 Israel Military Merger 14:17 America as an Idea 14:59 Trump Golden Age Clip 17:05 War Fears and Disillusion 19:27 Trump Family Windfall 20:30 Subscriber Opera Question 21:16 Wagner and Gershwin 22:33 Sci Fi Reading Picks 24:59 Debt Bubble and Stablecoins 30:19 Vigilante Citizen Talk 33:15 Coal Markets Explained 36:33 Israel Influence and Gaza 40:58 Econophysics and Deflation 45:19 Weekend Sign Off