Prof G Markets
00:36:45 · Alex Bores, Ed Elson
[00:36:45] S6: I think that's right. Certainly, there's a spectrum, and and some of the people who were elected yesterday on both sides of the aisle just want there to never be another data center or even to walk back. Right? I'm not gonna say that those voices don't exist. But, yeah, I think most of the people who have... Even those who have advocated for a pause, it's been just that, a pause. Let's get reasonable regulations in place. Let's pass laws that say how it needs to be treated. Even where we started this conversation with Governor elect Innohosa, her two year moratorium was, and these specific regulations need to be put in place before we renew any new ones. So there will still be room to grow the data centers. Now maybe some of these companies are so highly levered that any threat to them, any delay could have larger business impacts. But this is not the end of building data centers in The US. It's just maybe entering a mode where they're a little more regulated. [00:37:40] S3: Alex Bores is a New York State Assembly member and author of the RAISE Act. Alex, we appreciate your time. [00:37:45] S6: Thanks for having me.
00:37:51 · Ed Elson
[00:37:51] S3: Well, The Blunami has arrived. The Democrats took the house and the senate in what will go down as one of the most resounding victories in the history of congressional politics. Across the country, districts swung blue. We saw upsets in Texas, in Kansas, in South Carolina, in Maine, potentially in Mississippi as well. These are states that have not elected Democratic senators literally in decades. This was unlike anything we have seen. Now we will be digesting and analyzing this over the next few days. But to begin, I would like to take a quick victory lap because I predicted a democratic landslide back in June when that was not a popular opinion at all. And I doubled down on that prediction last week, and I even said in my newsletter that this would be similar to the eighteen ninety midterm elections and that it would be one of the greatest defeats ever. And that is exactly what happened here. This was a blowout. It was a bloodbath, a slaughter, whatever you wanna call it. This was huge. Now the question is, what's next? Well, there's been some debate as to whether the Democrats should pursue prosecutions and retribution against Trump. Some people think that it's an unnecessary distraction from the real issues. Others think that it is important. I personally am in the others camp. I think that prosecution is not only important but essential. Why? Well, because it appears that this person actually committed crimes, whether it be bribery or insider trading or abuse of office or securities fraud or covering up a child sex abuse scandal, you name it. And so to not pursue accountability for crimes is to let our politics hijack our justice system. This isn't lawfare. This is simply the law. And if we find that Trump did nothing, then okay. But if he did, then he needs to be punished. And that to me is a nonnegotiable. And if the Democrats don't pursue that, well, then I think they will be admitting weakness and defeat. At the same time, though, they also have to fix the economic problems. They do have to deal with the affordability crisis. That means immediately repealing the tariffs and immediately getting out of Iran. How do they accomplish that? I don't know, but they should try. It also means addressing the housing issues. We have a very significant supply problem in America.
00:40:19 · Ed Elson
And if the Democrats don't figure out a way to significantly increase permitting and home building across the country, then they will have failed. It also means addressing the inequality problem, which has been widening for years and that is now reaching a breaking point. That might mean tax reform. It might mean equalizing taxes on income and capital gains. It might mean a lot of things. Again, this is up to the Democrats to figure that out and then go out and execute it. The point is there's still a lot of work to do, And it's not an either or situation. It's an both and situation. They should be dealing with all of this from rooting out corruption with prosecutions and with laws such as stock trading bans to targeting the economic problems that put them in office in the first place. Congrats to the Democrats. A lot of really impressive campaigns. Enjoy the champagne. Celebrate the victory. But then in the morning, it's time to get to work because this job is not finished, and there is a lot more to do. Okay. That's it for today. This episode was produced by Claire Miller and Alison Weiss and engineered by Benjamin Spencer. Our video editor is Brad Williams. Our research team is Dan Shalon, Kristen O'Donohue and Mia Silverio. And our social producer is Jake McPherson. Thank you for listening to Prof Markets from Prof G Media. If you like what you heard, give us a follow. I'm Ed Elson. Tune in tomorrow for our election breakdown with Anthony Scaramucci.