competed by others t.v. networks have to be there or be square the wrong square that is and while this method certainly saves a buck or two it can cover up the fact that crews check in for disaster jet back home in the worst is over leaving us in the dark about what leads up to and what happens after the chaos and the seizure get on our t.v. new york. and that is going to do it for now i'm christine for us our we do hope to see you back here in an hour and a half thanks for watching. wealthy british style. sometimes the spotlight on the. markets why not. come to. find out what's really happening to the global economy

with my charger for a no holds barred look at the global financial headlines tune in to congress report on our.

maximizer and welcome to the cause or report we're going to explain everything today using this simple slinky. to herbert's taste your own or just a server well max guys are going to set the scene for a slinky episode household wealth down twenty three percent in two years so according to the fed the average american families household net worth declined by twenty three percent between two thousand and seven and two thousand and nine the median net worth of households fell from one hundred twenty five thousand in two thousand and seven to ninety six thousand and two thousand and nine and the families of stop profilers where it hit especially hard their wealth was down by thirty percent yeah you know they got shellacked as obama's during the stock market crash and because people in america don't work anymore they speculate

the stock market and they lose their independence workers and they become dependent on the casino gamblers so they lost a bunch of money and they got a free breakfast so let's go on to the next i find that so we see that the average american lost twenty three percent of their net wealth. forbes wealthiest list reflects changes in global economy and the wealth of the world's billionaires was up twenty five percent in the same time that the wealth of the american population was down twenty three percent yes yes it's a club talk or see you see normally capitalism is about risk reward risk reward winners and losers like this you see this is this is what f.d.r. guaranteed during the depression when he brought in the f.c.c. and the f.b.i. seeing all the reforms like classical but for the last twenty five years thanks to j.p.

morgan goldman sachs we have something like this. we go your money. so the average net worth of billionaires on forbes billionaire list is now three point seven billion compared to three point five billion in two thousand and nine it's a magically increase at the top so carlos slim is still the richest man but his wealth in two thousand and ten increased by twenty billion for example but then steve forbes the guy who runs forbes magazine he says. these are creators they're not plutocrats these are do or making things happen and when they do well we all do well when he's lying they're not creators they're not do or they're clumped the krauts they're stealing money from the system it's like defending cancer saying that cancer is somehow beneficial to the host you know cancer is destroying the host the top fortune or forbes list as

a cancer destroying the host called the global economy and the global ecology it's eco eco disaster in the u.s. ten percent of the people own about thirty percent of the nation's net worth that's up from thirty five percent at the beginning of this crisis so as we see more and more of the wealth has shifted to the billionaire class from the average person whose wealth is now down twenty three percent they lost most of it because of the stock market or you know the housing but the wealthy the billionaire class increase their wealth of according to the forbes list mostly because of the stock market so that's the zero sum game that's the high frequency trading machines that these guys get to pay for from the likes of goldman sachs and j.p. morgan and the bankers that they get to just siphon this cash from that lower ninety nine point nine percent from i john paulson they made billions of dollars during the housing crash and stock market crash because i call john paulson and

hank paulson together. part of the conspiracy to crash the markets and all the lording with the federal reserve bank because they benefit and the proof is in the their net worth game they're making billions of dollars on the crashes and they're making billions of dollars more on the return trip up like the warren buffet for example who son of honest guy is making an august book these gaming the system and they should be removed from the system because he's leeching from the sizzler there but they're making money on the collapsing system john paulson who you mentioned i do believe he has alan greenspan working for him so alan greenspan is the architect of the system that we currently have well that collapsed two years ago we have no system at the moment other than just these kleptocrats just taking so let's look at the consequences of this collapse of the system the twenty three percent of the wealth evaporated from the bottom ninety nine point nine percent of americans here's a response glenn beck exposes economic terrorist plot on us by far left unions so he's blaming the use of this guy steve lerner who is

a former union leader was caught at a public forum and the left for met pace university on tape saying that a good idea for well average people would be to stop paying their mortgages and that is that way crash j.p. morgan because j.p. morgan is one of the biggest mortgage holders in the u.s. the most aggressive foreclosing on american citizens and he's saying this is a way to use the leverage of their relative weakness against the banking system which owns the whole federal reserve and the whole government system steve lerner is the sister campaign to our campaign of buying silver to crash j.p. morgan steve lerner saying default on your mortgages don't pay your mortgage to crash j.p. morgan in the same reason anyone with cancer would want to get rid of cancer and glenn beck is the apparatchik use of propaganda minister for the fricken terrorist on wall street and murdoch he's trying to point this guy as the bad guy which of

course is propaganda and i believe there's even more of this. very well he's telling his audience it's the leftist the far left the union organizers people who want to organize you are the bad guys but they could cause a run on the banking system he's saying so i want to remind people of what happened in two thousand and eight what who is the financial terrorist in this case and i refer you to this little video clip and this is paul can join he's a congressman from pennsylvania and this is him in two thousand and nine on c.-span and he's talking about thursday september fifteenth when he was visited by the treasury department officials and they said five hundred fifty billion dollars have been withdrawn from money market funds within an hour to two hours that morning we were having an electronic run on the banks they just decided to close down the money account and announce a guarantee of two hundred fifty thousand dollars per count so there wouldn't be further panic out there and that's what actually happened if they had not done that

their estimation was that by two o'clock that afternoon five and a half trillion dollars would have been drawn out of the money market system of the united states would have collapsed the entire economy of the united states and within twenty four hours of the world economy it would have been the end of our economic system and our political system as we know it just to break this down glenn beck is saying steam lerner is risking a run on the system contrast that with what we saw in two thousand and eight a multi-trillion dollar multi hundred billion soon to be trillion dollar actual run on the system by financial terrorist like j.p. morgan which back doesn't mention in his little story what the history is and he's vilifying a worker he's scapegoating a worker glenn beck is the guy who would be a guard at a concentration camp that's the kind of thing he would do well let's get

a little bit more into the actual deed. and what he's saying here he's talking about this one guy at a university open forum where anybody in the world can go anybody could've walked in there and listen to this guy paul can george ski was he was the head of the subcommittee on capital markets in the congress the united states congress the representatives of the people the people's house he's a congressman the treasury department officials came to him and secretly told him that if you don't release this money if you at this point they were talking about tarp if you don't release eight hundred fifty billion there will be a five point five trillion dollar run on the money market system we will collapse the system instead now glenn beck is trying to direct you to this little guy at a public meeting and that he's the cause of the financial catastrophe this is the the the message they're trying to put into people's minds out there who are desperate and on food stamps. we'll have another one of his rallies handing out

little yellow armbands with stars on them to the people as part of his final solution i mean i mean how much more evidence how much more proof to need that this guy back and murder are working for the same fascists who eliminated millions a sixty years ago how much more evidence do you need you know he's blaming unions so let's look at the situation in one of the lowest union participation rates states in the whole united states and that's idaho less than five percent of the citizens of idaho are in a union food stamps surge in west the number of idahoans taking food stamps grew by forty two percent last year we were less than five percent of them are new so they can't blame their catastrophe on union members so the number increased from in two thousand and seven before the financial terrorist attack that glenn beck is trying

to distract them from. before then five point eight percent of the population were on food stamps now fourteen percent are on food stamps this is more than the national average which is that thirteen percent so the national numbers of people relying on food stamps which is like a pitiful amount of like one hundred dollars a month for per individual it's up seventeen million nationally since the crisis began in idaho alone it's up one hundred thirty six thousand one hundred fifteen people now reliant instance this is a state which is a very classically red state it's a very fox news sort of audience these are this is what glenn beck and his terrorists that he's defending they are they've caused the starvation the near starvation of seventeen million people the number one employer in food stamp administration and distribution. j.p. morgan that's right that's right they help the billionaires look up the krauts and

then they administer food stamp program for the peasants and by the way you're probably one of the presents aren't you unless you're one of the billionaires are watching the show because of our recommendation for gold and silver but anyway please continue so finally headline here fox news glenn beck telling you don't organize whatever you do that's the devil's leftism it's like these are evil people their fellow nazis and all these nasty liberty so don't organize i'm going to show you what happened in a nation that would probably be called socialist by glenn beck marxists and other sort of nasty words in american lingo dutch bankers' bonuses axed by people power so in the netherlands people gathered on twitter and campaigned to they were going to basically boycott i n g bank which is state bell this is a state owned bank but they were awarding themselves big bonuses the c.e.o. was given himself a bonus of one million pounds and these the dutch people threatened to withdraw

their money and fearing a partial run on the bank these bankers that i n g are giving back their bonuses for. the global insurrection against banker occupation as a major win. against i n g a financial terrorist well that's it shows you the proof that you know in america they've negotiated with terrorists paul kanjorski negotiated with terrorists and as a result many americans are now on food stamps but here these guys are getting their money back before they do deals they won't negotiate with these guys until they're on a level playing field and when they run out of money for food stamps it'll be for the ghetto all right stay sober thanks so much for being on the record thank you don't go away much more coming away so stay right there. as you know song was sixteen years old when he committed these murders that's not

inside the song so it should not be punished for his crimes sean is being punished no rational person can deny that out sean has been punished is been punished and will be punished. as ours must be executed for the brutal karmic matter this is a punishment this is not. to mention. that. because we've been immersed know me whatsoever. and i didn't come here justice. and heard they first. started this more. violent martin. and my dad is now.

to be official t.m.p. cation choice of the ipod touch from the choose option. life on the. video on demand. comes. omissions feeds now with the palm of your. pushing on the comb. welcome back to the kaiser report time now it's again it's in massachusetts and thought with dimitry all off is the author of the newly updated reinventing collapse dimitri welcome to the kaiser report i think thank you for having me on your program max great to be with you all right dimitri your law we are in the

midst of a the collapse that you refer to in reinventing collapse where are we in the collapse well it's hard to tell which phase where in some countries have gone through political collapse others other countries are in the midst of a financial collapse and now we have a bit of a commercial collapse on the way because say missing for jitsu air sensors that are required in just about every production automobile it is supposed to be rolling off the production lines but isn't ok you're talking about supply line disruption correct and that those globalization era thought break it down for us basically companies have shifted completely to just in time. inventory control systems and the logistics are becoming a nightmare because japanese manufacturing. shutdown to quote a great extent woad won't be up and running because of other tricity shortages

because its nuclear plants all run and these companies that diversified their sources of the ports they need for the various manufacturing process between several japanese manufacturers in many cases and since both of those manufacturers happen to be offline not much will be moving so then will be will have actual shortages of product at spare parts that are needed to keep systems running and so on it sounds a lot like still the union with factories stacked up with stuff that they can't ship products that nobody wants workers being underpaid as a matter of fact when you wrote the original collapse gap you made the comparison between the u.s. and soviet era russia saying both countries were spending military budgets out of control that the soviet union collapsed and that the us would collapse surely there after were in the midst of that collapse the us is stepping up its military spending there in afghanistan there in iraq now there in libya people are asking

where's the money coming to spend in libya i think per your collapse gap scenario would all make sense fill in the details well what's happening now in libya is it's just a very striking example of being unable to stop even though what you're doing isn't actually working. leaving khadafi in power would have been a nightmare scenario because you know his grand islamic democratic tribal socialism it was would have been ok to have all of these you know western supported dictators knocked over and replaced by some somebody to the west could appoint through some kind of you know because the west is such such expertise in freedom and democracy they could ship in some experts and find somebody else but fifty's muslim countries have their own expert on freedom. democracy that would be a big problem for the west and for the united states so i can see where they would be motivated in removing gadhafi but this is this is just an extreme example of

being unable to stop this astroturf revolution now are perpetuating and in libya probably won't and very well for anyone even if khadafi is removed and i can just generally see how this is not going to evolve into into anything stable all right let's take a look at the mainstream media's coverage of what's happening in the us and economic collapse in the us they seem to be leaning in the direction of blaming everything on the unions particularly teachers your thoughts to major you're on the american political system loves to pick victims and they generally are the weakest part of the population they don't really fight back they don't really want to pick a fight with a soldier why not pick a fight with a schoolteacher instead if you can't they're going all sorts of efforts to.

patronize you know. skinned women with too many children you know and you call them welfare queens things like that you claim immigrants you claim defenseless people and this is just part of this. sadistic streak exists in american politics and it comes out in the worst of times this is just part of it all right so that sounds like scapegoating sounds like scapegoating from the world war two era a helpless or a minority in the population was chosen and scapegoated everything was blamed on them saying in the us there they're teaching teachers as their scapegoating teachers and the weakest in society with the least rights and then blaming all of them is that correct well yes it is if they're hoping at the same time that by by demolishing. as much of the the social infrastructure as exists in the country you know getting rid of the people who make for

a literate population for instance we will end up with even less literate population that will be unable to oppose the government unable to stand up for themselves and demand that their rights and needs be mad so in this they might actually be successful all right so there is a program being conducted by the government against its own people in the us can we say that without any hesitation vote yes in the remarkable thing is that i look at the us population in a crowd. just speaking to people and they don't actually have any understanding that it's not their government but they don't have any control over it completely ignores anything that they will say will will pretty much follow the dictates of the people who own the government and it's not the general population that owns the government and they still feel that there is some kind of

a rule to be played in by them in floating or in forming some kind of an opposition intelligent people talk about forming a third party as if this is a political system that can be reformed i would say that in the soviet union people were a bit farther along in the process. understanding that it wasn't their government at this stage of the game and this is rather disappointing parting with dimitri all and i encourage everyone to look him up on the web and read his writing. it predates a lot of what naomi klein has been writing about or what naomi wolf has been writing about dimitri has been doing a bit of a social science experiment by mapping the fall of soviet empire in the fall of the us empire and finding remarkable overlapping between these two countries and the collapse gap is just about completely closed let's talk about currency the role of currency in the collapse in particular the us dollar and the increasing doubt that we see. in the global community in the u.s.

dollar what do you see happening there i noticed that the fellow who was queening. gold and silver dollars a while ago i think was something like free money i don't remember the exact name of the company but he just got locked up for twenty five years a judge in the us accused him of being a terrorist so. people who think that they can somehow skirt the financial system. are wrong you know that they will. they will be dominated by the bernanke's of this world and others there isn't really a way out except to make do without money and that's kind of what i try to explain to people this is reduce your needs for. any kind of interaction with with the official economy and we will do better let's talk about oil for a second what role it plays it's in the triple digits again the last time oil prices were the size the stock markets plunged shortly thereafter how do you see

oil price factoring into this going forward to meet the all of the short term view is that there's a lot of volatility of the long term view is that oil is without an industrial economy as oil oil is pretty much a talks talks equates to now one of the big fish in. as to the second edition of my book that i made is a big chapter on peak oil where i debunk part of peak oil theory the part of it that says that there will be very gradual declines in in the global production of crude oil spanning decades i have discovered that this is really bunk as and what we should be looking forward to is rapid stepwise declines where carts of the world are cut off from petroleum imports all that once that may be preceded by shortages for a period of time can argue that this is the case based on a lot of different lines of evidence so that's one of the additions that i made to the book now the. oil is behind us and coming into focus in our rearview mirrors

now let's talk about propaganda for a second because in the us the mainstream media and the propaganda that is mainstream media is trying to convince the public that the there is no such thing as peak oil it's it's an agenda being pushed by it's hard to determine exactly who they identify as driving this agenda but that it doesn't fact exist now it's simply a matter of of wrath of magics and physics right i mean if you extract half of more than half of all the oil that's in the crust of the earth you're going to start to pay up for what's remaining in the crossed of the earth is that is that a fair statement there is a way of modeling any given well reservoir and then if you combine a lot of different oil reservoir spin that's just a smearing effect but they be basically the basic math the logistic function remains the same. but the problem is that the oil that we're getting at now is not

the oil that was there before before you could take a whole hundred years ago you could dig a hole with hand tools and get at the will you have to drill offshore there's also those sorts of technical complexities to get at the remaining oil which makes it much. more expensive and at some point it makes its economic that is there isn't enough spare energy or money left over to keep the economy going while getting at the the amount of oil required to keep the qana me going that's just one of the effects but there's a lot of different effects that play into it such as resource nationalism in various countries where they they see it to their advantage to consume as much oil as possible and export as little as they can get away with because that puts them in a relative advantage he said the oil importing countries there are a lot of a lot of things that will basically disrupt the global economy by causing well shortages and price spikes and there is place and and and crashing economies of

various countries and that's what we're seeing now all right to me through we've got about a minute left can you just cover two or three of the. strategies that those listening and watching might want to think about to deal with this collapse well one thing to focus has brought to to the fore is make sure you're not within fifty kilometers of a nuclear power plant just get a map draw dos where the plants are. fifty kilometer radius circles around each one and make sure you're not living in there because we know now that one little mistake and you go from people in white small acts with clipboards to the three stooges running around with plastic bags on our feet in radioactive right so there isn't really a stability in the world that's required to operate a nuclear industry and so we should all try to stay away from those locations as

much as possible ok so you're advocating basically stay nimble stay mobile stay alert this is why i hate real estate as an investment for decades and second if somewhere some crazy stuff goes on all right well that's all the time we have for me. you're all of thanks so much for being on the kaiser report thank you max all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert and i want to thank my guests meter or la if you want to send me an e-mail please do so at kaiser report at r t t v are you until next time this is nice guys are saying by elf.