today is the minus thirteen days to the fall day and it's not even really a deadline anymore joining me tonight for explain why raising the debt ceiling is only going to make things worse as bob murphy senior fellow at the pacific research institute and the funniest economist i know rahm emanuel lost to super class school the b.b.c. is pretending to know a thing about journalism to advance the consensus on climate change threatening a cop murderer can get you more time in jail than the murderer and he is back with us on the right side of the pond well technically the left remember when friedman and nixon said we are all keynesians now whether or not we wanted to be

well according to the department of homeland security who are all terrorists now especially if you're watching adam vs the man. especially if you're watching i don't know the man so according to the h.s. all americans are terrorists but you knew the viewing audience of adam vs the man are especially terroristic ladies and gentlemen but the fault is nearly upon us as americans in more and more desperate situations find themselves charging more basic necessities to credit cards than ever before obama decided to just push his little deadline back

a little but as the day approaches. what d.-day had i guess obama's now rendered his own sensationalism a bit silly. with the debt ceiling deadline growing perilously close global markets have bracing for the unthinkable and i we are obviously wanting out of something that has to be a deal bill is an option we're going to blow your brains out. oh shut up already today is the minus thirteen and. it's it's not really the minus thirteen senate majority of senate minority leader mitch mcconnell has offered a complete workaround for the president a plan that would allow him to keep borrowing money if promises if he promises really really really nicely to cut spending somewhere down the road but until yesterday obama said he wouldn't take it he was demanding responsibility and

immediate action and standing on principle and compromise well it really stuck to his guns on that compromise part and announced yesterday through spokesman jay carney if both sides agree to something significant we will support the measures needed to finalize details but there is no extension without an agreement on something big basically if there's a deal in the works and we just need a few more days obama will except in congress offer put only if there's something really really good in the works if the republicans keep coming up with plans that are only sort of good then well obama's just going to have to keep borrowing forty something cents of every dollar he spends and keep screwing over the poor and working class in america with q e three but it'll have a cooler sounding name by then so is it really do you minus thirteen well the deadline for having something through congress in time for the august second

deadline was july twenty second tomorrow and it doesn't look like that's happening so. that's better meanwhile it seems everyday americans are following the government's leap but not doing a very good job at it the federal reserve to whom by the way one point six trillion dollars of our federal government's debt is owed also keeps track of what they call revolving credit and it's primarily credit card balances as of main for all americans revolving credit was seven hundred ninety three point one billion dollars our national debt. how in the hell do they get away with calling the governments that the national debt anyway our government's debt which supports far fewer people than you know the general population is over fourteen and a half trillion dollars but as for the general population that is those of us not for sure enough to be employed by uncle sam things get tough without automatic cost of living adjustments one prices keep going up and according to silvio to various

senior vice president at first they to the largest credit card processor consumers particularly in the low income and are being forced to use their credit cards for everyday spending like gas and food that's because there's been no other positive catalyst like an increase in wages to offset higher prices it's a cash flow problem americans are using credit cards just to get by increasingly for basic necessities this fluctuations in gas prices are reflected in credit card use as william simon u.s. stores chief of long art said the paycheck cycle is severe now for exactly what's not going to happen we turn to fed chairman ben bernanke the anticipated pick ups in economic activity and job creation together with the expected ease of price pressures should boast a real household income confidence and spending remember by his logic an increase in spending even if by broke ass desperate people that he despises you want to they don't have one of their credit card debts is not just good for the

economy. it's a sign that we're recovering from corn of the commerce department from january to may adjusted for inflation income was down zero point one percent while food prices are up two percent and energy up eight point two percent there are a lot of checks scheduled to go out on d.-day or pre the day as the case maybe and the inflation is in the mail joining me now from nashville tennessee is author economist would be comedian we found out of the pork fest roast of south on molyneux he's a lot funnier than i am author of the politically incorrect guide to capitalism a book that unfortunately really shouldn't be necessary he's a senior fellow of business and economic studies at the pacific research institute bob murphy thank you so much for being with us tonight. a outstanding now and you've pointed out on your blog repeatedly that the raising of the debt ceiling

itself is entirely unnecessary and that all of this is drama if you were in charge what would your alternative be to raising the debt ceiling i feel i'm embarrassed for even phrasing it that way but let's be honest those of us who are looking at honest alternatives for the government doing the right thing in the situation are kind of on the outside of this conversation we are exactly right and it's true i mean you and i have very strong views about what the government should be doing so obviously this isn't the ideal solution but yeah it is giving advice for a practical solution to this one thing to point out is there simply lying when they tell people we need to raise the debt ceiling or else we have to default it's not true right now they're taking in tons of revenue only one sixth of which they would need to make their existing interest payments on the debt that's already been issued i'll give it a good student then then we learn from nazi germany that if you tell a lie then you tell a big enough and you tell it over and over and of that it becomes true doesn't it don't we have to raise the debt ceiling to not default on the debt. well i

understand what you're saying but you know maybe you need to have a funny little moustache to make. but you know so if they have enough revenue coming in so what they really mean is we would have to cut spending elsewhere and we don't want to do that so we're going to threaten the american people and say things like oh we're going to clog your social security checks and so forth rather than saying something like well if you don't let's raise the debt ceiling we have to bring all the troops home or we have to end the drug war because they said that people might say yeah but only you. know you have no one thing that this you point out is another alternative to what's being discussed in washington is selling off government assets now there's an inherent reluctance to that for people that love power they love being able to control so much so called public property. how much what where would you start with that you're exactly right so just think of it in terms of a a household or a business if you're in trouble and you have a cash flow problem because you're sitting on a lot of liquid assets it doesn't mean you have to necessarily go out of business

and shut your doors it means maybe you sell those assets off to get you over the hump so it's the same thing here they don't need to either they can continue to spend more than they're taking in revenue and make up the difference by selling assets there's lots of stuff ok so where they start they they have they're sitting out according to their own numbers they're sitting out over seven hundred billion dollars worth of credit instruments things like they they own student loans they own still assets from the tarp program you know they're still sitting on shares and in options on corporate stock that they could sell a lot of their value on their own books it's you know fifty billion dollars something like that so it could go on their own numbers they've got seven hundred billion write down they've also got again according to their numbers we could be cynical they claim they have over four hundred billion dollars worth of gold isolate that sell that they've got over fifty billion dollars worth of oil still the strategic petroleum reserve devotee of if they print more money the value of that gold will go up. and right i mean it is plain think that they face was i don't know about if you do what our plans were for the dollar you see what i want to hang

out of the gulf ok so i know we've only got a minute left here but i'm going to throw out to a surprise philosophical question because as much as this is appealing to any libertarian to say yeah the government should not be holding this property that could very easily prive be privatized for monetary instruments to debt instruments so it's a real physical property so the gold. isn't it isn't there is an inherent objection the it's legitimate for americans that in that all of our governments not to tary hygene so far have created massive imbalances of wealth and power a super class in this country even though it's extremely rich not because of the free market but because of government and because government has seized all these assets throughout the years saying oh we're just going to sell it we're going to auction whatever it does is not like the government stealing from the people who just hand it to the people that they stole the money from or you know. they gave the money that they printed to in the first place. well you're exactly right it's

like they're fencing stolen goods i understand and so you're right and i've judged really just thing would be the government just to shut its doors down and and stop the damage but my point is if the alternative is they're going to borrow more money that they're going to tax people in voluntarily to pay the interest on it makes more sense to at least return the essence of the private sector where they can be useful so i agree with you those assets really aren't legitimately the federal government's to sell off but they're sitting on it right now it's not a salute it's not better just to have them retain ownership and then raise the debt limit right spending and it certainly beats the alternative which is printing more money stealing from america's poor and working class to inflation i guess it's sad to say but justice may have already there's the ship may have already sailed on this one bob thanks so much for joining us tonight bob murphy from nashville tennessee and strip me out. of the. the power of the bags truly get some impressive mileage these days forget

just going sixty in a thirty five zone or running red lights now now you can kill people well ok all right might be sensationalist exaggeration there's a little bit there's a little penalty of about you know two years in jail but it seems like a bargain if you if you really need all somebody right if you're not wearing a badge though better keep your mouth shut so there isn't a lot of you with all the stories we have of the bart cop bay area rapid transit so hands that mesereau in oakland california who shot and detained and prostrate oscar grant in the back on new year's day in two thousand and nine there's a recap of the famous footage. he was charged with second degree murder but found guilty of only involuntary manslaughter mesereau claimed that he accidentally fired his gun intending to fire his he's or instead he was sentenced to

a mere two years in prison minus time served and got a lighter sentence than some people get from marijuana charges of course he's a cop son to be expected he's already back on the streets the interesting twist here is that beyond what is clearly a failure to deliver justice someone else is now going to jail over this incident after the shooting one jeffrey weaver posted the following on info wars dot coms comment section f. the pigs if i find out who the pig is then i will kill the pig who killed him if any of you oakland or bart pigs are reading this your time is coming i am curious to know what it looks like up close to see pigs get their brains splattered against a wall those words got the f. guys attention force that would gangs like to protect their own weaver was charged and convicted of transmitting threatening communications through interstate commerce. that post landed we were a sentence longer than the man slaughter three years in federal prison and three

years probation and or in justice system at work killers walk the streets and people who write nasty comments on the internet go to federal prison of course it should be mentioned that this was a gross violation of the first amendment if that was in question it was subtle supreme court declared in brandenburg versus ohio that the government could not constitutionally punish me if that generally advocates the use of force or lawlessness unless there is intent imminence and likelihood the real lawlessness here lies with the government itself stick around for more of this police state up they come up after the break you're watching adam vs the man. drives the world the fear mongering used by politicians who makes decisions it's

considered breakthrough a through to be made who can you trust no one who is you can view it with a little well machinery see where we had it state controlled capitalism is called satchels when nobody dares to ask we do our t. question morning. a new website which twenty four seven live streaming newsstands like to tell you about the ongoing financial hardship unlimited free high quality videos for download. and stories you may never find the names we need. to be. a political. person more on our team.

welcome back to adam earth says the man the next time you're on some form of public transportation or in an airport or even walking through your friendly monsanto filled wal-mart food aisle and you hear a familiar voice don't be alarmed it's only your big sister janet making sure you keep your eyes out for any terrorists remember if you see something say something your observations and reports and to make a difference in helping to protect our country from terrorist activity and other when you share them with the right authorities. what you've seen here are only a few examples of events of how people like you can notice something you feel is suspicious or out of the water and report it to their local authorities remember if you see something say something. homeland security starts with hometown security and we have a little to play working together we can help secure our country. if

you see something say something. the department of homeland security released that little video as part of their ongoing campaign to fan fear and paranoia amongst the peasantry and by the way all of the reporters of suspicious cases in that video were minorities and all of the criminals were white so a little interesting to attempt at reverse racism there but really blatantly obvious and as you can see the new threats to america are coming from within and we should always be suspicious and was once said by president richard m. nixon that we're all keynesians now well add to that that we're all terrorists now which is. in a way essentially the same thing but that's besides the point i d just reporting titled insider threats to tiller he's stated this violence extremists have in fact

obtained insider positions based on the reliable reporting of previous incidents we have high confidence in our judgment that insiders and their actions pose a significant threat to the infrastructure and information systems of u.s. facilities and see how it is no longer just some foreign enemy in a faraway land it's very possible that you're the blonde blue eyed caucasian neighbor joe sixpack could be plotting the attack on your town's nuclear power facility or even i you ways to sneak in dirty bobs the next time you see that that soccer mom driving in in her minivan doing doing fifty five in a forty five year highway patrol car better yet call the f.b.i. might look like she's trying to get back home and turn the stove off before she starts a kitchen fire but in reality she could be rushing a high powered explicit towards a large area of people those kids in the back seat are inflicting the quotas do not be fooled we must be ever vigilant in this fight you never know where the enemy is it could be betty. with each passing day of obama's job

recovery the found stench of government desperation is creeping further into the nostrils of everyone stuck under its made in china but let's take a little tour around the country shall we can use a pedicab though that's illegal but we'll come back to that down in the sun sunshine state home of the hanging chad of florida bureaucrats at the department of highway safety and it motor vehicles are making a few quick bucks actually around sixty three million quick bucks no not high speed traps them those were given but rather by selling out the personal information of their citizen subjects to private firms whether you like it or not lexis nexis unsaddle software now in possession of your personal information floridians the state is sold your full legal name current address date of birth and a list of registered vehicles all without your consent not to worry. they have to worry about repercussions for bad service or anything because that would be with

a quality in capitalism the government gets to go the monopoly route instead maybe though if we're lucky the post office will go under before the d.m.v. slips our addresses to the spammers. if only the a.v. in massachusetts is up to its own tricks too they're not selling information at least that we know of but they're at least starting to put everything in a database building lists is the first key to exploiting people after all and i would know political candidate the automatic license plate recognition device will be implemented among state police as well as twenty six local departments to scan thousands of license plates per hour detailing the location of each driver their criminal record warrants traffic history and parking violations all of this will be in a database accessible to the feds state police local police and prosecutors most likely it means the blue shirted bridge trolls are going to be pulling in more and more people over for petty code violations and creating new traffic jams in pittsford the police are now openly setting quotas requiring each officer to make it least

ten traffic stops per month quotas are nothing new but it's nice there are at least admitting to setting profit metrics now and it's an interesting way off this was in an e-mail for officers patrolling a minority neighborhood speaking of petty fines there's an alarming threat emerging near the heart of our nation's capital but a cab as you know they may just seem like poor underpaid college kids who pull people around on bikes and hundred three degree weather they may seem like they are providing a service to the tourists but that's not the case what they're actually doing is far more nefarious belying spokesman for the national park service made it very clear that nefarious acts of capitalism are not acceptable in the american capital the pedicabs are obviously doing much more than driving a bike the pedicabs are obviously out of the national mall to make cold our american cash. oh i did some people maybe if they were being paid in carbon credits to be more legit in the eyes of the state for they're highlighting the micro

protectionist policies of governments everywhere he went on to say that pedicabs weren't allowed to enter the market because the government made a contract with a tour bus agency to immobile and we wouldn't want to actually see competition for all that be american and it goes without saying that the city of washington d.c. is an exemplary model of american fascism what will it be today will your car body slam into concrete for dancing no way you just drank a bottle of water on the metro didn't you that's going to be a fine citizen but he didn't x. is one sixteen zero doesn't matter pay the fine you dirty little criminal i'd recommend you go find a tall glass of ice cold lemonade but i just put down the local lemonade stand so you'll have to go buy one from one of our state funded museums bottom line if local and state governments around the country want to really make a killing pun intended they need to step their game up and like the romans do copy the district controls the level of dedication and you'll be raking in the big bucks

i've asked before but i'll ask again what do these people actually produce if there is going to create jobs it might as well put people into jobs that were actual products or services are being offered sitting at a desk stuffing your lip it covered cart filled ass with cheetos while you process my parking tickets is not a service and i am not your customer if you are forcing me to cough up hundreds of dollars under the threat of legal or physical force i am your victim so nothing else to the d.c. d.m.v. i ask please pick the link it's the language on your website to more accurately reflect your celebration of being a cash strapped junkie of a government agency. and you've all been waiting long awaiting the return of our very own adam vs the man contributor lucrative joins me back from a tour of your in studio today and luke thank you so much for joining us tonight tell us about your trip you were gone for you know you said it was only going to be a few weeks people have been wondering and we haven't been getting getting updates

from you the last couple weeks man tell me this was time well spent and it definitely was i mean it was a beautiful mazing trip a life changing trip so many amazing people i met beautiful wonderful people who took me into their house came a couch or a floor sometimes they were even sleep but on the streets and i learned so much of history and culture just by talking and meeting so many great people and it really changed my life you have a singular purpose for this trip or was it just to go out and as a citizen journalist be it be at the builder board meetings. g twenty g g g eight meeting and friends yeah i didn't know these are the meetings gosh i can't you track of them all right but there was there was that the g twenty in france you are in england as well paris barcelona showed us the protests where you were sleeping in some of the families of course on the st moritz so it's a win for build a bird dublin edinburg london amsterdam and you got to go to your

hometown and you know poland and we've got your family there. but when you were when you were traveling when you see that much. i mean it was really kind of a revolution tour i mean you were going to see all these spots where there were we talk about here in the show as the global revolution that's going on right now the love olution what gerald selenski calls the first great war of the twenty first century how were the dynamics that were seen in the united states with. and then social upheaval let's call it a mystically and the sort of dissatisfaction with government how does that how are those dynamics present these other countries you've got the business i mean each country was different spain was definitely a hotbed for revolutionaries people who wanted a difference people were sick of the unemployment and all the bailouts that were going to the big banks everywhere i went the sub summit was very similar they were sick of the european union take away their sovereignty and their right to rule

themselves and it was very hard for activists in some countries i mean people were fined for not having the right permits five thousand euros a little kids were being arrested for talking up streets and up political messages i saw so many people even thrown in jail based on false accusations with no evidence and they could get away with it and some country so everywhere i went it was just sounds a lot like what's happening here and you know there was a lot of different perils of especially with the bankers bailouts especially with people struggling to survive everywhere you went people were dissatisfied and had a hard time living people had two jobs and so at a hard time making their bills and having food but it was just a huge learning experience because i didn't stay in hotels i stayed with people who had a couch and i just living and learning just life it was just an incredible incredible learning lesson then and it seems like in all of these other countries you're able to thanks to the internet like like never before in human history as an american on your own get out and connect with all these people and and really. find that common

ground that what i think humanity is experiencing right now and it seems like never before in human history had people around the world been able to communicate in a way that allowed them to sort of look around billie you guys aren't happy with their government situation the other let's get our let's do something about it and there's sort of an international standing in solidarity around the ideas. what it would one of this did you take away is a life changing experience i actually talked to a survivor of the nazi death camp in poland who was a ninety year old man who lived through horrible things and learning how it happened how this was allowed to happen in the thirty's and forty's it was groundbreaking his story was very emotional i talked to my grandmother she actually had her father killed by the s.s. her mother was sent to a nazi death camp as well she came this close to being also one of those nazi death camps but she was very lucky i'm going to have those packages ready within the weeks but it was just just so real understanding how bad it got and and it was just

amazing to see people still struggle still but most importantly survive and still have that will to fight for life so you've got a lot of footage back we had a little technical difficulties with and so we're going to wait we're looking for to get you get those process going on on the air here. glad to have you back here and i know you want to dismiss charley beat but even you even you were a little pissed off you think adversity that you know is that all not all of them were going to say we're going to have you on next week out of it we will get we'll get take and look at charley beach there today nine eleven lou thanks so much for being with us hi and thanks for being back have you back involve the show yes it's good to. see all right so i just want to close with that with a little bit of a different note tonight because yesterday i was talking to a friend here at the studio dennis about reaching out as a libertarian to other libertarians and he was someone who described himself as

awakened and. it talks about the matrix you know that society is in and of itself almost a matrix that we find ourselves in that we have to free ourselves and psychologically of course that metaphor kind of does this a disservice because there's no real physical matrix here but the core of the libertarian message of the philosophy it's it's so simple but it takes a lot to really inspire someone to truly embrace it the idea that it is morally wrong for human beings to ever initiate force against fellow human beings no matter what the case no matter what the excuse no matter what the fancy law or shiny badge or nice hat that the government official is wearing and that you as a human being as a free beautiful independent human being are intended to be free and owning yourself that you have self ownership that you not only own your body but you own the product of your labor as well and when you're trying to get someone to embrace this and you're reaching out.