oh ok. that sounds better than total deaf!

anyways, i figured Youtube has indeed added a close captioning option since late Aug 2008, but it's not an automatic system and uploader/creator of the video has to use the option given and provide the text using a software.

I'm 100% sure there are programs out there called "speech recognition" softwares

One famous one is called "Dragon Naturally Speaking"
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I also found a different kind of tube made exclusively for deaf people called sign tube, but its not anywhere near youtube in means of content at all.
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I tried looking up the transcript of this video as well without any luck. u can find the original content creator if u go to the main youtube link. its listed to the right under upload date, maybe u can find the text upon more searching there.
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btw the audio on many youtube videos is just of low quality (same as the video)
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all that's known is that close captioning on youtube is just about 1 month old feature and i naturally expect it to be used far more in future uploads.