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tv   Boom Bust  RT  November 13, 2013 7:30pm-8:01pm EST

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with help of those who didn't maybe i'm very proud of. these awards like to. your body or. i feel i left a mark. on the back those rides alone liberal rumble would need tonight horace cooper and jesse jane duff let's get back to it i'm curious horse we we were talking off camera about this whole contentious political mcgillis trauma and i'm not and i said that you know when did this start this basically doing judicial nominations over politics arguably it went back to george maher john marshall i mean you know john adams put him on the court just just to thomas jefferson but in the modern era you said the first bush administration yes ok so under the reagan administration bork was filibustered i mean there were good reasons there
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were prominent arguments that could go forward to explain why he was the best i think it was a distortion but under the bush administration we went from a we're no longer going to make a principled argument about policy and we're going to go for gutter ball and that's what was done in the clarence thomas confirmation process both so low so in your world the democrats suddenly became political around here clarence thomas political you don't think it had the ring the bar it loring radar intense as i did are you glad clarence thomas was lowering it in you know his nomination after what he'd. been over at the department of education he got confirmed as chairman of the e.e.o.c. he got confirmed as chief on the d.c. circuit court all of us now he's no longer qualified and it turns out he's impeachable turns out all. there are so many conflicts of interest he's been
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is he has behaved in a way that if he was on any other federal court he would have been impeached by an iraqi what are awesome is a confirmation like his predecessor who slipped through half the hearings and notably admitted to his biographer that he led in iraq we might have a conversation about you know history but it's become political so let's let's let's move on elizabeth warren used to teach a course on it no doubt no doubt in her speech just in a speech yesterday a list senator elizabeth warren warned that the idea of too big to fail banks has only gotten worse since the two thousand and eight financial collapse warren said that who would have thought five years ago after we witnessed firsthand the dangers of an overly concentrated financial system that the too big to fail problem could only have gotten worse this is something i talk about in my new book the crash of twenty sixteen i discuss how there's going to be another crash probably before two thousand and sixteen or in two thousand and sixteen because the situation's the same as it was in two thousand and eight the fundamentals haven't changed and so are we i'm curious what you guys think that we're on the edge of
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a financial collapse is this a bipartisan analysis kudos to senator warren. if a crazed wacko left winger from massachusetts didn't actually exist we'd have to invent one she is perfect right out of central so if you think five banks having assets equal to sixty five percent of the g.d.p. of the united states is a good thing right turns out an analysis that the federal reserve put out shows that america is ranked number ten in terms of banking concentration when you start looking at world bank operations a b. event is so perfect because it was to retail only has one bank and you know so you've got a on a one to one international it makes that are recognized i'm talking about europe i'm talking about asia but you're going in there as your bank is really the only major saying once glass steagall it's a fairly innocent. but the but in this case the federal reserve was suggesting that there are some benefits that have occurred. crude to the american public because of
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the comparative advantage and the reason is you are in for too big to feel that you disagree no no no no i think anybody i think anybody that is a marketable the corrupt should go to jail and i am i'm all for anybody collapsing who does not abide by the rules right now with glass steagall she wants that to be back implemented again but the real problem was the subprime loans from the community revitalization and that basically got essentially we were writing sub prime loans over and over and over again because there was a quota with the government to make sure that you have a house in our careers in these nine hundred true. prison it's about accountability and one of the ways that you get accountability one of the ways are going to come from see that i agree and the obama administration wants to do is that you get a culture of the initial six hundred person one of the ways that you get people accountable in the free market is they lose their jobs and that's a good healthy start what we need is the ability so americans losing their jobs was
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a good thing. not our bankers need to be held accountable what happens is that they are being given passes or being bailed out or they would essentially bail and you know you don't bail people out but he wants to be a law he was you know things like i say that i was going to market was great wasn't going to be we don't have the only choice one they go to prison or we build them out those are not out to us it's the federal reserve as it is pump down everybody's throats and so nobody goes out there and shops for an adequate bank they basically all have this bail out with the federal reserve if i have to go make sure that i invest my money into something that is accountable i'm going to take less risk you both the federal reserve gives everybody this big blanket of security start matters here and i see you address of. distorted what happened with general motors everybody believed they needed bankruptcy what everyone didn't believe was they needed the federal government to own them and they were too big to fail we believe have. yes it resulted in government but only on our own the result either resign.
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in their words going from twenty eight dollars an hour to fourteen dollars an hour yeah you know that's all you have a fairly it is all you don't have you only have to do that if you want to know they need to go into some so they don't operate that way you think our economy is just fine we're not headed for a crash. you are so distorting my statement well no i'm right handed for a big big because of the size and scope of government ok so these are going to get government regulation is causing the problems because people have a blanket of security so all spend it if the companies are held accountable yes but no oh hello can i get a bailout no you cannot do this because this is what's causing this that if you want to just about just you know isn't ready to chance are out of my book you don't have to send me went to prison you simply don't write a check and when i show up it and everybody i agree saw in celebration for me are him so that so thank you. and even a question twenty sixteen is coming and the energy i see in itself gives
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a blanket of security so banks can take these high risk loans this is called regulatory capture but we all agreed on this everybody we shouldn't really going into the bank and asking what is the risk care if you got the extra high interest that's coming and we need to wonder what the risk is but people are not being held accountable the individual person is just running around rapidly because the f.b.i. says right there to balance out we can't keep adding other words like in other words we're putting money in the big five banks knowing that the first quarter million dollars is protected by the f.b.i. says that's a real problem to be easing as it is the same concept on a broader level i don't i don't disagree ok let's move along to the wage republicans actually support animal wage according to a gallup poll released monday over half of seventy a self identified republicans fifty eight percent support raising the minimum wage to nine dollars u.s. hasn't raised the federal minimum wage which currently stands at seven twenty five since two thousand and nine expected despite record levels of corporate profits recent years right now millions of americans are struggling to survive and the
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republican you know the majority republicans like this by the way washington state oregon i had a long conversation the radio today with carl wilson who's a talk radio host and boy and the minimum wage in those two states is in the neighborhood of nine dollars and has been for some time and it's indexed to inflation and the. create their economies are booming their companies are doing well there you know that is the minimum wage people are consumers and they drive economic demand and what do we do well i am a free market gal if a company wants to offer five dollars an hour twenty dollars an hour that's on them so you don't have to be there you don't have to work all day yes i remind everybody that we are sent not by this mission be able to function how it's so please as long as they help there are enough laws in place to ensure that the workers are kept safe that they get their time off and if you don't want to work there you don't have to work there if you want to strike a strike but the fact of the matter is that a company should not have to feel like the federal government or the state government is telling them how to operate their business and if you want to succeed in this world are going to be competitive you're going to you want the best talent
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you're going to pay for better wages so i'm going to bring it back to politics chris christie allowed a minimum wage hike that's indexed for inflation that will raise it for ever and ever and ever to go into effect during his campaign he put no effort to stop it and that is going to be held against him when he's running in the republican primary made up of republicans and you'll get to see the difference between some folks who said in a survey i'm support this versus some folks who. are a whole different people that really matters to me but you know what it with and that's another you know very interesting conversation as it were who was going to be the republican nominee but i think that we should we did you for that speedo low wages wal-mart. says that they are going to stay open on thanksgiving historically these big companies out of not over the thanksgiving you know what they did they should stay open going through what's even more interesting every it's fabulous and every other if you read dickens christmas carol yes ok so you know that at the end
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of christmas carol not only did they have an easter scrooge secretly send a turkey to tiny tim on christmas day but the day after he and tiny tim are not trying to bob cratchit bob. i had no idea this came from scrooge the next day scrooge gets to work fifteen minutes early so you can catch crabs are coming in late cratchit comes in eighteen minutes later scrooge jumps up and says you're right and he's going oh yes i'm sorry it was and he says i don't stand for this in fact i'm giving you our raise and that's how the book ends is ebeneezer scrooge goes from being a low wage employer to being a fair wage employer walmart is saying we're not going to give you away a raise we're going to give you a turkey actually we're not even turkey we're going to turkey dinner. first of all first of all you're talking about really at least follow the example
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of a ridge you know there should be mark you're talking about a caste system where people who were born were given special advantages and people who were not just born to the standards was the middle class he was not the upper class he was of all that spend of gradually over the world didn't really have good opportunities because of the caste system we don't have the capacity at the lowest social mobility in the developed world but we do have a cassis no central ok secondly secondly i am a critic of this move to say the two days out of the year that the entire nation comes together and acknowledges that it's family time and it's increased creator time that time that ought not to be commercial to say you know i think government to all these companies you know we should have a law but i will say i don't like wal-mart for doing it and it may be here unless i only have one is appalling that all the companies now are feeling they have to stay
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open on thanksgiving to compete with each other however it is a free market system i think the american shoppers to buckle down to make a demonstration stay home a lot of the black fridays are now black thursdays and it's really i mean one of my friends is looking online she goes i have to leave my house on thanksgiving to get these sales and there are certain items he wants to get that she only specifically gets. so the reality is i don't want the government regulating it it is a free market but the american consumer controls whether this will work or not and if wal-mart has blockbuster sales and they go off the roof guess what it'll be back next thanksgiving if it's lackluster it won't happen in the sea ice i still think the evidence is crucial should be a good role model for the walton family but any more scoop or jesse james thanks for being with us are coming up ten mega-corporations all in marketer distribute almost everything we buy from the dish soap and candy bars to baby food and puppy chow so what happened to the good old days a competition of american marketplace more on that it's next to each other.
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dramas the truth be ignored. stories others refuse to notice. the faces change the world writes in the. full picture of six days. from around the globe. doctors don't. i think. the word like. did you know the price is the only industry specifically mentioned in the constitution and. that's because a free and open prize is critical to our democracy shred albus. in
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fact the single biggest threat facing our nation today is the corporate takeover of our government and across several we've been a hydrogen right hand full of transnational corporations that will profit by destroying what our founding fathers one school i'm tom are going to get on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem to try rational debate and a real discussion of critical issues facing america have i ever feel ready to join the movement then walk a little bit there. birthrights
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wong we're going to the supreme court and labor law as many of you know the roberts court is one of the most conservative supreme courts in american history time and time again chief justice john roberts and the other four right wing justices have proven that they are friends of giant corporations and a means of everyday working people now once again they have a chance to put a damper on the labor movement that's because this term the roberts court will decide to important labor cases unite here local three thirty five versus mall hall and harris of the quinn and depending on how the court rules it could either keep in place important protections for unions and workers or so the labor movement that decades to help us break these two cases doubt i'm joined now by
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a progressive progressive commentator nate sweet that as we go in time to have you with this great let's start with unite and unite here local three fifty five versus mulholland. this deals with section three zero two of taft hartly taft hartley modified the way racked. lay out what the wagner act was what taft hartley did what three o two does and why that why we should care about this so the wagner after it's passed during the height of the new deal that established for the first time in the very far yet established for the first time the right of the american worker to unionize and also stablish the national labor relations they were relations board and gave the ability to regulate the election process in the unions but you know conservatives are outraged by that so they asked the taft hartley at nine hundred forty seven that modified the budget wagner act we can protections for workers and allowed for the right to work for less laws that we now see run rampant
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alex ordered all over the country but section three zero two of the taft hartley act actually prohibited the exchange of so-called things of value between unions and employers in the negotiations over union contracts and where this comes into play and unite here local three three five persons in the hall is in florida hold on just certain things of value i mean the reason the reason that those things of value part was put in in forty's was the the belief in the reality in some cases the some unions have become corrupt you have unions that were basically were broader you know that kind of thing and so what they wanted to do was probe prevent a union leader from giving you know new cadillacs to the c.e.o. or the or the trade negotiators of a company that they were negotiating contracts right exactly but what's interesting here in the mohawk case is the unite here union that was negotiating with with mardi gras again in a florida casino company when they negotiated neutrality agreement which is
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essentially a union negotiation where and stead of going through the normal national labor relations board election process they just agreed that they won't you know they won't strike the hope support they actually help support the companies casino about like a ballot initiative that was supported by the company the company just let them have a half. you know card a card check process so they agreed then they would excuse strikes they'd support the company and other in their efforts in exchange for having a card check union election day when they won and more and more one of the employees of the company says that that actually violates section three zero two of the tarp taft hartly act because it's an exchange of a thing of value. and if it from it will help you the companies that will help you out and arguably go under that logic anything the union a company negotiate becomes a violation is actually through to right because any time you negotiating for something that you have an interest in if you get something that benefits you it's
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a thing of value now two out of three district courts of appeals courts have said what i just said what you just said the if you identify the outcome of a negotiation between a union and a company as a thing of value and therefore out water to have to at least nine hundred forty seven search through to. you might as well not even have unions i mean you know you just blows the whole thing up one out of three courts is oh no you know and then you guys were going to go out that's a thing of value and that court the eleventh circuit as i recall that's the argument that's being taken at the supreme court right now if the supreme court agrees with the eleventh circuit it's going to it seems to me correct me if i'm wrong it's going to completely got the wagner yeah i mean the real purpose here will be the end to unionization united states yet the real purpose here isn't so much to deal with section three or two of the top hartley act but it's to gut and weaken card check elections as a whole because or anything else that might you know i mean just negotiating over
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pay negotiating or pensions those are things about yeah and that's obviously why they're bring it to the roberts court because they've seen the roberts court time and time again make these incremental steps towards abolishing important aspects of the new deal whether it's you know protections against campaign finance etc that's i think i think the people who are bringing before the. in this case for some your point this is a hail mary pass on the part of the people who want to just totally bring organized labor in the united states for all time exact area and discussion we're out of time i want to get into harris versus quinn will will have to do that next week mate thanks a lot makes them great so you. just. it's the good the bad the very very diffuse you really ugly the good gregg popovich
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a legendary senate tonio spurs coach himself a veteran of the u.s. air force called out washington politicians monday for praising veterans while doing nothing to stop the brutal food stamp cuts that went into effect earlier this month he told usa today in a lot of ways it's a joyous day if we all remember to honor people but in some ways it's a sad day because soldiers and veterans don't really get honored the way they should be just like the way it is right now how many vets might have to do without food stamps because of what's going on with the government right now the program is huge to a lot of these families i mean here it gets them through and it may or may not be there who knows because government is not very functional at this point as we all know. well said maybe it's time you gave congress what are your favorite famous talks the bad c.b.s. sixty minutes correspondent lara logan finds herself embroiled in controversy this week after she was forced to retract a misleading story about the september eleventh two thousand and twelve attack on
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the u.s. special mission at the ghazi but the real battle here is logan's of lawyers c.b.s. after conservatives whine and complain about dan rather's actually true george bush national guard or back in two thousand and six c.b.s. fired him the network has done nothing but a punish logan for her false benghazi or. c.b.s. were actually concerned about truth and fairness they would ask really and the very very ugly memory pope there are crazy obama haters and then there are really crazy obama haters this pope is one of the latter check out what she said about the president during a recent broadcast on the far right radio show the many. and we knew very as it's common knowledge that you know he girls were never anything that he was ever interested in and he would get with these older white gay men and this is how we just pretty much had the impression that that's how he was procuring it's cocaine now they were to having sex with these older white guys and that's how he
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was getting his cocaine to be able to freebase. just completely falls and they just make this stuff up and that's a very very. much diversity in america's economic web of life an image that was first posed on reddit last year and was recently grabbed by the folks over a policy mike shows just how out of control corporate america has become in the years since ronald reagan stopped in force in the sherman antitrust act right now there are ten giant corporations that control either directly or indirectly virtually everything we buy these corporations are craft coca-cola pepsico nast
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nestle procter and gamble general mills kellogg's mars unilever and johnson and johnson these ten corporations in turn own market or distribute what people think of as the products of hundreds of other companies for example procter and gamble is best known for its clean and personal. hygiene products like tied to turgeon and soap joyed dishwashing liquid that the company also owns or markets other products from i ams dog food and abysmal duracell batteries and metamucil and there's mars the giant candy conglomerate responsible for stickers bars and m. and m's and other sweet treats but did you know that mars also owns or markets pedigree dog food whiskas cat food and uncle ben's rice and there's nestle many american consumers know nestle for its nescafe espresso as li ice cream or nesquik chocolate milk but this coffee and chocolate milk manufacture also owns or helps market purina dog and cat food gerber baby food ralph lauren cologne and hair care
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products these giant corporations essentially have a stranglehold on most of america's consumer market but there's a bigger and even more disturbing picture here many of these corporations are interlocked and interconnected themselves over it they ruled that dot net you can track and discover the connections between america's largest corporations for example according to they ruled out now its most recent information pepsico has a board member who serves on the board of the colonial williamsburg foundation alongside a board member who serves on the board of the kellogg corporation and johnson and johnson had a board as a board member who serves on the board of the u.s. chamber of commerce foundation with a board member of coca-cola. it wasn't always like this believe it or not there was a time when there was plenty of competition in the american marketplace when one corporation didn't own two hundred other companies when the corporations largest corporations and when the nation's largest corporations weren't in her walk to the
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liberal arts the sherman antitrust act was passed back in one thousand nine hundred and its prime law prevented businesses from overwhelming competition in the marketplace and it even required the federal government to investigate any company that tried to monopolize an industry the sherman act worked well for nearly one hundred years but then everything changed when ronald reagan became president the sherman antitrust act became a thing of the past the break up of eighteen t. completed by jimmy carter was its last gasp as a result all across america local businesses were run out of business as giant corporations took over main street and dominated industry after industry giant megastores like wal-mart and target replaced local convenience and hardware stores while local diners and burger joints were replaced by the likes of burger king and mcdonald's bigger companies got bigger and bigger to the point today were ten
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corporations control almost everything we buy this is not good for our economy and it's not good for our democracy when corporations have all the power you and i have no say in the american democracy ecosystems that are broad and diverse are resilient all those that are narrow in unbalanced are fragile and it's the same with economies it's time to bring diversity back to america's economic web of life and we can do that by bringing back the sherman antitrust act so competition can return to the american marketplace. and that's the way it is tonight wednesday november thirteenth two thousand and thirteen by the way my latest book the crash of two thousand and sixteen is now available for purchase at all on line retailers at your local bookstore or library. you don't have to buy a library career for free don't forget democracy begins with you get out there get active tag your it.
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or not psych to an active campaign ad monotonic know where patients are forced that in the aftermath of our strike never turn the world's attention to the place that sometime jobs go a lot of hard times. and . i would rather ask questions to people in positions of power instead of speaking on
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their behalf and that's why you can find my show larry king now right here on r.t. question for. please. please. please. let us talk rules in effect and you can jump in anytime you want.
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coming up on r t v dot congress's approval ratings were low before think again but new poll looks at how americans feel about their elected lawmakers and let's just say it's an all time low take a look at the numbers just ahead and part of a secretive trade deal known as the t.p. p. has come into the light has released documents showing how the trans-pacific partnership would affect the u.s. and other negotiating nations for medicine internet freedom or on that coming up. and there are growing calls for the guantanamo bay detention camp to be close to president obama's promise to close the facility years ago hasn't been kept but what might a new debate brewing on capitol hill over the national defense authorization act mean forget about that later in the show.

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