If you were in your twenties and could choose to be born at any point in human history, would you be insane to choose any other time to be alive than right now? Our guest says yes, and the statistics back him up. Regardless of perception, shaped in part by politicians and populists, the average person today is richer than John D. Rockefeller simply by virtue of being alive in 2025. And yet, the “anxious generation” of Gen Z and Gen Alpha seem unaware of their own financial wellbeing and appear confused as to why they aren’t instantly as well off as their parents in providing for themselves. Many believe homeownership is impossible, that they will never pay off their loans, and that the cost of living is unmanageable. Is this belief based in any reality? Was life truly better for their parents? Or is this a generational cycle of perception? And who benefits from peddling this fear?

Norbert Michel is the Vice President and Director of the Cato Institute’s Center for Monetary and Financial Alternatives, where he specializes on issues pertaining to financial markets and monetary policy. Michel was most recently the Director for Data Analysis at the Heritage Foundation where he edited and contributed chapters to multiple books. Michel is also the author of the book “Crushing Capitalism: How the Stagnation Narrative is Threatening the American Dream”, and coauthor of “Financing Opportunity: How Financial Markets Have Fueled American Prosperity for More than Two Centuries”.

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Over the last decade, China has carried out the largest illicit transfer of capital, innovation, data, and technology in human history. One of the most overlooked elements of this heist is the role of industrial espionage and the theft of corporate secrets. The government-backed intelligence apparatus designed to clone American technology has strengthened Chinese competition across all industries and, most notably, enabled advances in military hardware, microchips, pharmaceuticals, and telecommunications. In his newest book, The Great Heist: China’s Epic Campaign to Steal America’s Secrets (Harper Collins, 2025), David Shedd, with Andrew Badger, exposes the CCP’s campaign and presents a counterstrategy informed by his distinguished career in intelligence. But what exactly are they stealing and how are they carrying it out? Why is the IC so silent on this? And why do we insist on bringing more Chinese nationals into our universities?

David Shedd is the former deputy director and acting director of the Defense Intelligence Agency (DIA). He also served as chief of staff for the director of national intelligence and National Security Council senior director and as special assistant to the president for intelligence under George W. Bush. He began his intelligence career in 1982 immediately after his studies at Geneva College and Georgetown University, and served nearly thirty-three years in a number of capacities in the DNI, National Security Council, CIA, and in U.S. embassies overseas. Since leaving the federal government, he has worked at The Heritage Foundation and as an adjunct professor and is currently working as an independent national security consultant.

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Between the pardoned turkeys and those running loose on Capitol Hill, controversy over insubordination and sedition seem to be on the menu this holiday. The six Democrats who posted a video addressed to service members sowed chaos and confusion about the proper chain of command and lawful military orders. It is crucial to understand the constitutional framework that distinguish lawful military action, legislative and executive powers, crime, and war. In today’s politics, rhetoric can make it difficult to discern the line between war and crime. John Yoo reminds us that not everything that harms society constitutes a war or justifies the use of military tools. That being said, where is the line drawn, and who draws it? And what is the proper role for members of Congress?

John Yoo is a nonresident senior fellow at the American Enterprise Institute, the Emanuel S. Heller Professor of Law at the University of California, Berkeley, and a Senior Research Fellow at the Civitas Institute at the University of Texas at Austin. Professor Yoo has served in all three branches of government. He was an official in the U.S. Department of Justice, where he worked on national security and terrorism issues after the 9/11 attacks. He served as general counsel of the U.S. Senate Judiciary Committee. He has been a law clerk for Supreme Court Justice Clarence Thomas and federal appeals Judge Laurence Silberman. Professor Yoo has published almost 100 scholarly articles on subjects including national security, constitutional law, international law, and the Supreme Court. Professor Yoo’s latest book is The Politically Incorrect Guide to the Supreme Court.

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