AI transcript
0:00:03 Listen, we all love a good hustle.
0:00:05 We all love a rise and grind mentality.
0:00:07 But let’s be real.
0:00:10 You could do all that and still be super comfy, right?
0:00:11 Right.
0:00:15 Nothing says comfort quite like a pair of Crocs.
0:00:22 Since 2002, they’ve been disrupting the footwear industry with their iconic clogged silhouette.
0:00:27 And now you can choose from more than a hundred styles to find the pair of Crocs that is perfect for you.
0:00:33 Like the Echo Way, with a sculptural boundary-pushing design that was crafted with the urban explorer in mind.
0:00:37 Whatever your style, buy yours at crocs.com.
0:00:39 Your Crocs, your story, your world.
0:00:45 Support for this show comes from Visit St. Pete Clearwater.
0:00:48 What do you look for in a beach vacation?
0:00:53 If it’s calm, clear, jewel-colored waters, creative cuisine and culture,
0:00:57 and new experiences perfect for you to relax and explore,
0:01:01 then St. Pete Clearwater on Florida’s Gulf Coast is waiting for you.
0:01:06 Enjoy a vibrant dining scene, wonderful museums, and amazing outdoor adventures.
0:01:10 Stay in legendary hotels or laid-back beach resorts.
0:01:14 Find exactly what you’re looking for and more in St. Pete Clearwater.
0:01:20 Go to Visit SPC.com to explore more and book your next unforgettable vacation.
0:01:26 Okay, business leaders, are you here to play or are you playing to win?
0:01:29 If you’re in it to win, meet your next MVP.
0:01:31 NetSuite by Oracle.
0:01:34 NetSuite is your full business management system in one convenient suite.
0:01:38 With NetSuite, you’re running your accounting, your finance, your HR, your e-commerce, and more,
0:01:40 all from your online dashboard.
0:01:45 Upgrade your playbook and make the switch to NetSuite, the number one cloud ERP.
0:01:50 Get the CFO’s guide to AI and machine learning at NetSuite.com slash Vox.
0:01:52 NetSuite.com slash Vox.
0:01:57 I’m Scott Galloway, and this is No Mercy, No Malice.
0:02:02 As President Trump upends the post-World War II order,
0:02:07 it’s finally dawning on Europe that it can no longer rely on America.
0:02:12 Europe becomes a union, as read by George Hahn.
0:02:22 The president is pulling back the security blanket that’s protected Europe since 1945
0:02:27 and imposing 25% tariffs on steel and aluminum imports,
0:02:32 claiming the European Union was formed to screw the United States.
0:02:35 As the U.S. upends transatlantic ties,
0:02:40 the EU is awakening to the reality that its rich uncle has lost his shit
0:02:44 and can no longer be trusted, much less depended on.
0:02:48 As dangerous as this is, we should ask,
0:02:50 what could go right?
0:02:56 This rift presents an opportunity for the EU to harness its economic strength
0:02:59 and finally become a union.
0:03:02 Skepticism is warranted.
0:03:06 The bloc of 27 member states has a host of problems,
0:03:09 waning competitiveness against the U.S. and China,
0:03:11 lagging investment,
0:03:13 costly regulation,
0:03:15 lack of coordination,
0:03:17 sclerotic decision-making,
0:03:18 and political division.
0:03:24 Only four of the world’s top 50 tech companies are European,
0:03:28 according to a report last year led by Mario Draghi,
0:03:31 the former president of the European Central Bank.
0:03:33 Without radical change,
0:03:35 Draghi said,
0:03:39 Europe’s reason for being is at risk.
0:03:44 But with American brand equity eroding at a breathtaking pace,
0:03:46 Europe could fill the void.
0:03:48 Under Trump,
0:03:50 the U.S. is caving to Russia,
0:03:51 a murderous autocracy.
0:03:56 The pre-orchestrated ambush of a democratically elected leader in Ukraine
0:03:58 was a low point in American history.
0:04:03 Typical head-up-your-ass thinking from a leader who’s decided to alienate allies,
0:04:06 raise costs for American consumers,
0:04:09 and reduce demand for our products overseas.
0:04:14 The definition of stupid is harming yourself while harming others.
0:04:18 These policies are stupid.
0:04:20 So how should Europe respond?
0:04:26 First, it’s critical the EU significantly boost its spending.
0:04:32 EU defense investment last year accounted for just 1.9% of its GDP,
0:04:40 well short of the level of 3.5% that’s needed to respond to today’s existential crisis.
0:04:44 Europe is finally getting serious about security.
0:04:46 Ursula von der Leyen,
0:04:48 president of the European Commission,
0:04:54 set out a plan to mobilize 800 billion euros for defense,
0:05:00 including a 150 billion euro loan program to pay for weapons and technology,
0:05:04 while Germany’s chancellor-in-waiting, Friedrich Mertz,
0:05:07 stressed the need for independence from the U.S.
0:05:10 Mertz’s center-right Christian Democrats
0:05:13 and the leaders of his likely coalition partner,
0:05:15 the center-left Social Democrats,
0:05:19 have agreed to relax limitations on German borrowing
0:05:23 and inject hundreds of billions into the country’s military and infrastructure.
0:05:37 Europe has a GDP 10 times the size of Russia’s,
0:05:45 but Putin is spending 40% more on the war than Ukraine and all its allies, including the U.S., combined.
0:05:54 The next step is seizing more than 200 billion euros of frozen Russian assets held in Brussels.
0:06:13 European countries stopped short of confiscating the funds amid fears that it could breach international law and undermine trust in Europe as a place to invest.
0:06:36 It’s worth noting that about 2.5 billion pounds from the sale of Chelsea football club by Russian billionaire Roman Abramovich is just sitting in a bank account amid protracted talks about how the money will be unlocked.
0:06:40 It’s time to pull the trigger on the frozen funds.
0:06:48 This would move the EU upstream of the policies of the U.S. president and remove his leverage to force a surrender.
0:06:57 Another positive emerging from the chaos is stronger collaboration between the EU and the U.K.
0:07:04 Almost nine years after Britain voted to leave the bloc, one of the biggest self-inflicted injuries in history,
0:07:07 the U.K. is moving closer to Europe again.
0:07:18 Prime Minister Keir Starmer has proposed forming a coalition of the willing to police any ceasefire in Ukraine with his country ready to,
0:07:23 quote, put boots on the ground and planes in the air, unquote.
0:07:30 Britain has also shown support for a multilateral fund and joint military financing to fortify Europe’s defenses.
0:07:38 At a time when European countries are already under financial pressure, pouring more money into defense will be painful.
0:07:43 In the U.K., Starmer has drawn fire over his plan to cut the foreign aid budget to fund the military.
0:07:51 But the prime minister has, quote, found a new purpose abroad, unquote, after getting off to a shaky start,
0:07:56 as The Economist notes in a cover story this week under the headline, Winston Starmer.
0:08:07 Putting the moral argument to support Ukraine aside, leaders can make an economic case for military investment as it paves the way for innovation.
0:08:11 Consider the U.S. Defense Advanced Research Projects Agency.
0:08:23 The agency, better known as DARPA, played a critical role in breakthroughs including GPS navigation, stealth technology, and mRNA vaccines.
0:08:31 In Israel, where technology and national security go hand in hand, the military serves as an incubator of startups.
0:08:36 Or look at Ukraine, which has revolutionized drone warfare.
0:08:43 The Trump administration fails to see what may have been the best investment by the U.S. in recent history.
0:08:51 The 67 billion dollars the U.S. has provided in military aid to Ukraine is a significant sum.
0:09:00 And Americans justifiably question funding a war thousands of miles away when they can’t find jobs or afford diabetes medication.
0:09:09 However, much of that spending benefits U.S. military suppliers, creating jobs and stimulating the economy.
0:09:14 As it happens, mostly in red states, but that’s a different post.
0:09:27 What’s more, using the equivalent of about 7% of our defense budget, we’re crippling Russia’s army, hobbling Putin’s economy, and castrating proxies that pose a terrorist threat.
0:09:31 All without putting a single American boot on the ground.
0:09:42 We’ve taken out a third of an enemy’s kinetic power and sent a message to China regarding its long-contemplated invasion of Taiwan.
0:09:53 They’ve no doubt taken notice of how formidable a motivated fighting force can be defending their homeland when armed with Western armaments and intelligence.
0:10:04 The U.S. retreat presents an opportunity for Europe.
0:10:15 In Germany, bold plans to step up investment in defense and infrastructure are sparking optimism that the manufacturing sector will get a much-needed boost.
0:10:22 Weapons maker Rheinmetall aims to convert some car part plants to produce military equipment.
0:10:29 And Hensold, which makes sensors and radars, is considering hiring software engineers from automotive suppliers
0:10:31 that have experienced huge job cuts.
0:10:39 Rheinmetall, French warplane maker Dassault Aviation, Italian defense and aerospace company Leonardo,
0:10:48 Britain’s BAE Systems, and Sweden’s Saab, a maker of jets, submarines, and anti-tank systems,
0:10:56 have all seen dramatic rallies in their share prices as investors anticipate an increase in military spending.
0:11:03 The benefits could spill over into other sectors, too, giving a lift to a sluggish European economy.
0:11:11 It’s estimated that a debt-financed increase in defense spending to 3.5% of GDP,
0:11:17 with those funds directed to infrastructure, R&D, and manufacturing from European sources,
0:11:22 could increase economic output by as much as 1.5% per year.
0:11:30 If Europe successfully adapts, it will expand in promising areas including AI,
0:11:34 semiconductors, digital infrastructure, and quantum computing.
0:11:40 Building on its manufacturing, technology, and intellectual property prowess,
0:11:55 Europe has economic influence, but it also needs resolve, a resource in abundance in Russia.
0:11:59 Think about what Ukraine and its allies are up against.
0:12:04 Putin has shown a willingness to shed a staggering amount of blood,
0:12:10 sending waves of young men forward into a meat grinder, as the strategy is known,
0:12:12 in a bid to overwhelm the enemy.
0:12:20 Ukraine estimates Russia lost 150,000 soldiers in 2024 alone,
0:12:24 almost three times the number of Americans who died in the Vietnam War.
0:12:27 How does Russia recruit?
0:12:31 In some regions, through substantial upfront payments.
0:12:39 U.S. Defense Secretary Pete Hegseth plays down the importance of values relative to hard power.
0:12:41 He says, quote,
0:12:45 You can’t shoot values, you can’t shoot flags, unquote.
0:12:48 He’s wrong.
0:12:57 Afghanistan, Vietnam, 1939 Britain, and the 13 American colonies all faced bigger fighting forces.
0:13:00 And they prevailed.
0:13:05 The EU lacks the funds, but this can be fixed.
0:13:08 The real question is, do they have the resolve?
0:13:15 When my mom was a young girl growing up in London during World War II,
0:13:18 she and her family had to endure the Blitz.
0:13:26 They were forced to sleep in dark tube stations where they’d pass out gas masks shaped like Disney characters
0:13:28 so scared children would agree to put them on.
0:13:31 Eight decades after Germany surrendered,
0:13:36 How many Europeans are willing to sleep underground to live through the night?
0:13:45 Achieving peace, security, and stability will require tough decisions and sacrifices,
0:13:49 the kind of sacrifices that win wars.
0:13:52 Is the EU willing to make them?
0:13:56 As Trump advances with his America First agenda,
0:13:59 it’s easy for proponents of liberty and democracy to despair.
0:14:04 But there’s nothing like the threat of a brutal autocrat in Russia
0:14:09 and an unpredictable president in the White House to bring unity to the continent.
0:14:14 The bad news is the EU can no longer count on the US.
0:14:16 The good news?
0:14:18 They may not need us.
0:14:23 Life is so rich.
0:14:40 It’s been reported that one in four people experience sensory sensitivities,
0:14:45 making everyday experiences like a trip to the dentist especially difficult.
0:14:50 In fact, 26% of sensory sensitive individuals avoid dental visits entirely.
0:14:57 In Sensory Overload, a new documentary produced as part of Sensodyne’s sensory inclusion initiative,
0:15:01 we follow individuals navigating a world not built for them,
0:15:06 where bright lights, loud sounds, and unexpected touches can turn routine moments
0:15:09 into overwhelming challenges.
0:15:14 Burnett Grant, for example, has spent their life masking discomfort in workplaces
0:15:16 that don’t accommodate neurodivergence.
0:15:20 I’ve only had two full-time jobs where I felt safe, they share.
0:15:22 This is why they’re advocating for change.
0:15:28 Through deeply personal stories like Burnett’s, Sensory Overload highlights the urgent need for spaces,
0:15:32 dental offices, and beyond that embrace sensory inclusion.
0:15:37 Because true inclusion requires action with environments where everyone feels safe.
0:15:41 Watch Sensory Overload now, streaming on Hulu.
0:15:48 This is advertiser content brought to you by the all-new Nissan Murano.
0:15:51 Okay, that email is done.
0:15:54 Next on my to-do list, pick up dress for Friday’s fundraiser.
0:15:56 I’ll write, okay, I’ll write, where, where are my keys?
0:15:58 Oh, in my pocket.
0:15:59 Let’s go.
0:16:03 First, pick up dress, then prepare for that big presentation.
0:16:05 Walk, dog, then…
0:16:06 Okay, inhale.
0:16:10 One, two, three, four.
0:16:12 Exhale.
0:16:15 One, two, three, four.
0:16:19 Ooh, who knew a driver’s seat could give such a good massage?
0:16:24 Wow, this is so nice.
0:16:26 Oops, that was my exit.
0:16:28 Oh well, that’s fine.
0:16:29 I’ve got time.
0:16:35 After the meeting, I gotta remember to schedule flights for our girls’ trip.
0:16:37 But that’s for later.
0:16:44 Sun on my skin, wind in my hair.
0:16:46 I feel good.
0:16:48 Turn the music up.
0:16:54 Your all-new Nissan Murano is more than just a tool to get you where you’re going.
0:16:56 It’s a refuge from life’s hustle and bustle.
0:17:02 It’s a place to relax, to reset, into spaces between items on your to-do lists.
0:17:05 Oh, wait, I got a message.
0:17:09 Could you pick up wine for dinner tonight?
0:17:10 Yep, I’m on it.
0:17:14 I mean, that’s totally fine by me.
0:17:19 Play Celebrity Memoir Book Club.
0:17:21 I’m Claire Parker.
0:17:22 And I’m Ashley Hamilton.
0:17:26 And this is Celebrity Memoir Book Club.
0:17:34 This episode is brought to you by On Investing, an original podcast from Charles Schwab.
0:17:37 I’m Kathy Jones, Schwab’s Chief Fixed Income Strategist.
0:17:40 And I’m Lizanne Saunders, Schwab’s Chief Investment Strategist.
0:17:44 Between us, we have decades of experience studying the indicators that drive the economy
0:17:46 and how they can have a direct impact on your investments.
0:17:50 We know that investors have a lot of questions about the markets and the economy,
0:17:51 and we’re here to help.
0:17:56 So download the latest episode and subscribe at schwab.com slash oninvesting
0:17:58 or wherever you get your podcasts.
0:00:05 We all love a rise and grind mentality.
0:00:07 But let’s be real.
0:00:10 You could do all that and still be super comfy, right?
0:00:11 Right.
0:00:15 Nothing says comfort quite like a pair of Crocs.
0:00:22 Since 2002, they’ve been disrupting the footwear industry with their iconic clogged silhouette.
0:00:27 And now you can choose from more than a hundred styles to find the pair of Crocs that is perfect for you.
0:00:33 Like the Echo Way, with a sculptural boundary-pushing design that was crafted with the urban explorer in mind.
0:00:37 Whatever your style, buy yours at crocs.com.
0:00:39 Your Crocs, your story, your world.
0:00:45 Support for this show comes from Visit St. Pete Clearwater.
0:00:48 What do you look for in a beach vacation?
0:00:53 If it’s calm, clear, jewel-colored waters, creative cuisine and culture,
0:00:57 and new experiences perfect for you to relax and explore,
0:01:01 then St. Pete Clearwater on Florida’s Gulf Coast is waiting for you.
0:01:06 Enjoy a vibrant dining scene, wonderful museums, and amazing outdoor adventures.
0:01:10 Stay in legendary hotels or laid-back beach resorts.
0:01:14 Find exactly what you’re looking for and more in St. Pete Clearwater.
0:01:20 Go to Visit SPC.com to explore more and book your next unforgettable vacation.
0:01:26 Okay, business leaders, are you here to play or are you playing to win?
0:01:29 If you’re in it to win, meet your next MVP.
0:01:31 NetSuite by Oracle.
0:01:34 NetSuite is your full business management system in one convenient suite.
0:01:38 With NetSuite, you’re running your accounting, your finance, your HR, your e-commerce, and more,
0:01:40 all from your online dashboard.
0:01:45 Upgrade your playbook and make the switch to NetSuite, the number one cloud ERP.
0:01:50 Get the CFO’s guide to AI and machine learning at NetSuite.com slash Vox.
0:01:52 NetSuite.com slash Vox.
0:01:57 I’m Scott Galloway, and this is No Mercy, No Malice.
0:02:02 As President Trump upends the post-World War II order,
0:02:07 it’s finally dawning on Europe that it can no longer rely on America.
0:02:12 Europe becomes a union, as read by George Hahn.
0:02:22 The president is pulling back the security blanket that’s protected Europe since 1945
0:02:27 and imposing 25% tariffs on steel and aluminum imports,
0:02:32 claiming the European Union was formed to screw the United States.
0:02:35 As the U.S. upends transatlantic ties,
0:02:40 the EU is awakening to the reality that its rich uncle has lost his shit
0:02:44 and can no longer be trusted, much less depended on.
0:02:48 As dangerous as this is, we should ask,
0:02:50 what could go right?
0:02:56 This rift presents an opportunity for the EU to harness its economic strength
0:02:59 and finally become a union.
0:03:02 Skepticism is warranted.
0:03:06 The bloc of 27 member states has a host of problems,
0:03:09 waning competitiveness against the U.S. and China,
0:03:11 lagging investment,
0:03:13 costly regulation,
0:03:15 lack of coordination,
0:03:17 sclerotic decision-making,
0:03:18 and political division.
0:03:24 Only four of the world’s top 50 tech companies are European,
0:03:28 according to a report last year led by Mario Draghi,
0:03:31 the former president of the European Central Bank.
0:03:33 Without radical change,
0:03:35 Draghi said,
0:03:39 Europe’s reason for being is at risk.
0:03:44 But with American brand equity eroding at a breathtaking pace,
0:03:46 Europe could fill the void.
0:03:48 Under Trump,
0:03:50 the U.S. is caving to Russia,
0:03:51 a murderous autocracy.
0:03:56 The pre-orchestrated ambush of a democratically elected leader in Ukraine
0:03:58 was a low point in American history.
0:04:03 Typical head-up-your-ass thinking from a leader who’s decided to alienate allies,
0:04:06 raise costs for American consumers,
0:04:09 and reduce demand for our products overseas.
0:04:14 The definition of stupid is harming yourself while harming others.
0:04:18 These policies are stupid.
0:04:20 So how should Europe respond?
0:04:26 First, it’s critical the EU significantly boost its spending.
0:04:32 EU defense investment last year accounted for just 1.9% of its GDP,
0:04:40 well short of the level of 3.5% that’s needed to respond to today’s existential crisis.
0:04:44 Europe is finally getting serious about security.
0:04:46 Ursula von der Leyen,
0:04:48 president of the European Commission,
0:04:54 set out a plan to mobilize 800 billion euros for defense,
0:05:00 including a 150 billion euro loan program to pay for weapons and technology,
0:05:04 while Germany’s chancellor-in-waiting, Friedrich Mertz,
0:05:07 stressed the need for independence from the U.S.
0:05:10 Mertz’s center-right Christian Democrats
0:05:13 and the leaders of his likely coalition partner,
0:05:15 the center-left Social Democrats,
0:05:19 have agreed to relax limitations on German borrowing
0:05:23 and inject hundreds of billions into the country’s military and infrastructure.
0:05:37 Europe has a GDP 10 times the size of Russia’s,
0:05:45 but Putin is spending 40% more on the war than Ukraine and all its allies, including the U.S., combined.
0:05:54 The next step is seizing more than 200 billion euros of frozen Russian assets held in Brussels.
0:06:13 European countries stopped short of confiscating the funds amid fears that it could breach international law and undermine trust in Europe as a place to invest.
0:06:36 It’s worth noting that about 2.5 billion pounds from the sale of Chelsea football club by Russian billionaire Roman Abramovich is just sitting in a bank account amid protracted talks about how the money will be unlocked.
0:06:40 It’s time to pull the trigger on the frozen funds.
0:06:48 This would move the EU upstream of the policies of the U.S. president and remove his leverage to force a surrender.
0:06:57 Another positive emerging from the chaos is stronger collaboration between the EU and the U.K.
0:07:04 Almost nine years after Britain voted to leave the bloc, one of the biggest self-inflicted injuries in history,
0:07:07 the U.K. is moving closer to Europe again.
0:07:18 Prime Minister Keir Starmer has proposed forming a coalition of the willing to police any ceasefire in Ukraine with his country ready to,
0:07:23 quote, put boots on the ground and planes in the air, unquote.
0:07:30 Britain has also shown support for a multilateral fund and joint military financing to fortify Europe’s defenses.
0:07:38 At a time when European countries are already under financial pressure, pouring more money into defense will be painful.
0:07:43 In the U.K., Starmer has drawn fire over his plan to cut the foreign aid budget to fund the military.
0:07:51 But the prime minister has, quote, found a new purpose abroad, unquote, after getting off to a shaky start,
0:07:56 as The Economist notes in a cover story this week under the headline, Winston Starmer.
0:08:07 Putting the moral argument to support Ukraine aside, leaders can make an economic case for military investment as it paves the way for innovation.
0:08:11 Consider the U.S. Defense Advanced Research Projects Agency.
0:08:23 The agency, better known as DARPA, played a critical role in breakthroughs including GPS navigation, stealth technology, and mRNA vaccines.
0:08:31 In Israel, where technology and national security go hand in hand, the military serves as an incubator of startups.
0:08:36 Or look at Ukraine, which has revolutionized drone warfare.
0:08:43 The Trump administration fails to see what may have been the best investment by the U.S. in recent history.
0:08:51 The 67 billion dollars the U.S. has provided in military aid to Ukraine is a significant sum.
0:09:00 And Americans justifiably question funding a war thousands of miles away when they can’t find jobs or afford diabetes medication.
0:09:09 However, much of that spending benefits U.S. military suppliers, creating jobs and stimulating the economy.
0:09:14 As it happens, mostly in red states, but that’s a different post.
0:09:27 What’s more, using the equivalent of about 7% of our defense budget, we’re crippling Russia’s army, hobbling Putin’s economy, and castrating proxies that pose a terrorist threat.
0:09:31 All without putting a single American boot on the ground.
0:09:42 We’ve taken out a third of an enemy’s kinetic power and sent a message to China regarding its long-contemplated invasion of Taiwan.
0:09:53 They’ve no doubt taken notice of how formidable a motivated fighting force can be defending their homeland when armed with Western armaments and intelligence.
0:10:04 The U.S. retreat presents an opportunity for Europe.
0:10:15 In Germany, bold plans to step up investment in defense and infrastructure are sparking optimism that the manufacturing sector will get a much-needed boost.
0:10:22 Weapons maker Rheinmetall aims to convert some car part plants to produce military equipment.
0:10:29 And Hensold, which makes sensors and radars, is considering hiring software engineers from automotive suppliers
0:10:31 that have experienced huge job cuts.
0:10:39 Rheinmetall, French warplane maker Dassault Aviation, Italian defense and aerospace company Leonardo,
0:10:48 Britain’s BAE Systems, and Sweden’s Saab, a maker of jets, submarines, and anti-tank systems,
0:10:56 have all seen dramatic rallies in their share prices as investors anticipate an increase in military spending.
0:11:03 The benefits could spill over into other sectors, too, giving a lift to a sluggish European economy.
0:11:11 It’s estimated that a debt-financed increase in defense spending to 3.5% of GDP,
0:11:17 with those funds directed to infrastructure, R&D, and manufacturing from European sources,
0:11:22 could increase economic output by as much as 1.5% per year.
0:11:30 If Europe successfully adapts, it will expand in promising areas including AI,
0:11:34 semiconductors, digital infrastructure, and quantum computing.
0:11:40 Building on its manufacturing, technology, and intellectual property prowess,
0:11:55 Europe has economic influence, but it also needs resolve, a resource in abundance in Russia.
0:11:59 Think about what Ukraine and its allies are up against.
0:12:04 Putin has shown a willingness to shed a staggering amount of blood,
0:12:10 sending waves of young men forward into a meat grinder, as the strategy is known,
0:12:12 in a bid to overwhelm the enemy.
0:12:20 Ukraine estimates Russia lost 150,000 soldiers in 2024 alone,
0:12:24 almost three times the number of Americans who died in the Vietnam War.
0:12:27 How does Russia recruit?
0:12:31 In some regions, through substantial upfront payments.
0:12:39 U.S. Defense Secretary Pete Hegseth plays down the importance of values relative to hard power.
0:12:41 He says, quote,
0:12:45 You can’t shoot values, you can’t shoot flags, unquote.
0:12:48 He’s wrong.
0:12:57 Afghanistan, Vietnam, 1939 Britain, and the 13 American colonies all faced bigger fighting forces.
0:13:00 And they prevailed.
0:13:05 The EU lacks the funds, but this can be fixed.
0:13:08 The real question is, do they have the resolve?
0:13:15 When my mom was a young girl growing up in London during World War II,
0:13:18 she and her family had to endure the Blitz.
0:13:26 They were forced to sleep in dark tube stations where they’d pass out gas masks shaped like Disney characters
0:13:28 so scared children would agree to put them on.
0:13:31 Eight decades after Germany surrendered,
0:13:36 How many Europeans are willing to sleep underground to live through the night?
0:13:45 Achieving peace, security, and stability will require tough decisions and sacrifices,
0:13:49 the kind of sacrifices that win wars.
0:13:52 Is the EU willing to make them?
0:13:56 As Trump advances with his America First agenda,
0:13:59 it’s easy for proponents of liberty and democracy to despair.
0:14:04 But there’s nothing like the threat of a brutal autocrat in Russia
0:14:09 and an unpredictable president in the White House to bring unity to the continent.
0:14:14 The bad news is the EU can no longer count on the US.
0:14:16 The good news?
0:14:18 They may not need us.
0:14:23 Life is so rich.
0:14:40 It’s been reported that one in four people experience sensory sensitivities,
0:14:45 making everyday experiences like a trip to the dentist especially difficult.
0:14:50 In fact, 26% of sensory sensitive individuals avoid dental visits entirely.
0:14:57 In Sensory Overload, a new documentary produced as part of Sensodyne’s sensory inclusion initiative,
0:15:01 we follow individuals navigating a world not built for them,
0:15:06 where bright lights, loud sounds, and unexpected touches can turn routine moments
0:15:09 into overwhelming challenges.
0:15:14 Burnett Grant, for example, has spent their life masking discomfort in workplaces
0:15:16 that don’t accommodate neurodivergence.
0:15:20 I’ve only had two full-time jobs where I felt safe, they share.
0:15:22 This is why they’re advocating for change.
0:15:28 Through deeply personal stories like Burnett’s, Sensory Overload highlights the urgent need for spaces,
0:15:32 dental offices, and beyond that embrace sensory inclusion.
0:15:37 Because true inclusion requires action with environments where everyone feels safe.
0:15:41 Watch Sensory Overload now, streaming on Hulu.
0:15:48 This is advertiser content brought to you by the all-new Nissan Murano.
0:15:51 Okay, that email is done.
0:15:54 Next on my to-do list, pick up dress for Friday’s fundraiser.
0:15:56 I’ll write, okay, I’ll write, where, where are my keys?
0:15:58 Oh, in my pocket.
0:15:59 Let’s go.
0:16:03 First, pick up dress, then prepare for that big presentation.
0:16:05 Walk, dog, then…
0:16:06 Okay, inhale.
0:16:10 One, two, three, four.
0:16:12 Exhale.
0:16:15 One, two, three, four.
0:16:19 Ooh, who knew a driver’s seat could give such a good massage?
0:16:24 Wow, this is so nice.
0:16:26 Oops, that was my exit.
0:16:28 Oh well, that’s fine.
0:16:29 I’ve got time.
0:16:35 After the meeting, I gotta remember to schedule flights for our girls’ trip.
0:16:37 But that’s for later.
0:16:44 Sun on my skin, wind in my hair.
0:16:46 I feel good.
0:16:48 Turn the music up.
0:16:54 Your all-new Nissan Murano is more than just a tool to get you where you’re going.
0:16:56 It’s a refuge from life’s hustle and bustle.
0:17:02 It’s a place to relax, to reset, into spaces between items on your to-do lists.
0:17:05 Oh, wait, I got a message.
0:17:09 Could you pick up wine for dinner tonight?
0:17:10 Yep, I’m on it.
0:17:14 I mean, that’s totally fine by me.
0:17:19 Play Celebrity Memoir Book Club.
0:17:21 I’m Claire Parker.
0:17:22 And I’m Ashley Hamilton.
0:17:26 And this is Celebrity Memoir Book Club.
0:17:34 This episode is brought to you by On Investing, an original podcast from Charles Schwab.
0:17:37 I’m Kathy Jones, Schwab’s Chief Fixed Income Strategist.
0:17:40 And I’m Lizanne Saunders, Schwab’s Chief Investment Strategist.
0:17:44 Between us, we have decades of experience studying the indicators that drive the economy
0:17:46 and how they can have a direct impact on your investments.
0:17:50 We know that investors have a lot of questions about the markets and the economy,
0:17:51 and we’re here to help.
0:17:56 So download the latest episode and subscribe at schwab.com slash oninvesting
0:17:58 or wherever you get your podcasts.
As read by George Hahn.
Europe Becomes a Union
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