i'm eighteen seventy one and for over a forty years the dirtiest scuzzy is the names in business banking and politics of mit in davos switzerland and each year's meeting they claim they are meeting in order to devise new ways to save the world to deliver prosperity it's all this year for example bill gross to read about one of those alleged save the world quote sessions you said the sharing economy satisfies a fundamental yearning of humanity to be in a community yes go ahead and bar for the reality is that for every year since the creation of the world economic forum inequality has grown real incomes of the client and financial crimes redistributed more wealth than on a bad acid trip. well i would do very well up there at the form and you know it was created in one thousand seventy one it was called then european management form started and it didn't rename itself until one thousand nine hundred

seven when it called itself the world economic form but you know the eighty's were of course the time at the beginning of this whole financialization of the world and it became more of a bankers hangout and bankers hanging out with politicians so i want to look at the world that they've created because you know a lot of people say they're up there to save the world this is why these bankers me to give their elite opinion about how we should save the world but if you look at this chart from charles who smith is the percent change in real income since one thousand nine hundred eighty eight now the top ten percent is that red line and the bottom ninety percent is the blue line and as you can see it rose sharply for the top ten percent around one nine hundred eighty two and it just tore away from the blue line the bottom ninety percent where they were rising all together for the first fifty years of that chart. yeah that's right oh you know since one thousand seventy one you say you know that's of course when the u.s. off the gold standard then we began

a period of financialization and global financial ization and global derivatives that were based on global financial ization which has been the engineering trick to create this massive wealth inequality and it's continued now thanks to meetings like davos or a builder berg or any of these other global conflict or bankers industrialists and crooks get together to figure out new ways to impoverish the globe and they're doing an outstanding job yes and of course first of all it took one hundred seventy one into the eighty's before they really tore away because there was a ten year period where people were uncertain if the world could go on a total fiat's system and paul volcker raising rates up to twenty percent really. convince people that yes the dollar could be the world's reserve currency it's as good as gold but the other thing is that so once the once financialization took off is when you really saw the bottom ninety percent collapse their income just

declined rapidly now of this chart charles who smith and said notice how the income of the top ten percent diverged from the bottom ninety percent was the era financialization an asset bubbles started in the early one nine hundred eighty s. each asset bubble housing in the late one nine hundred eighty s. tech in the one nine hundred ninety s. and housing again in the two thousand nudge the incomes of the bottom ninety percent briefly into marginally positive territory while it spiked the incomes of the top ten percent into the stratosphere well i think the key is always been wages and how to manage wages so that you could create asset price inflation without having to increase wages so clearly when china join the world trade organization there was a way to outsource jobs to asia so they wouldn't have any inflationary pressure on wages you know new new advances in robotics now are going to allow for productivity continue but without any pressure on wages by getting people to sacrifice good paying jobs for the ability to speculate in the financial eyes globalized world was

the greatest trick the devil played in getting people to voluntarily give away their means of production if you will their only way that they could achieve some kind of economic sovereignty on an individual basis in exchange for endless supply of lottery tickets that somehow always come up losers and the result is quite obvious those who print the lottery tickets the currency make all the money and everyone who is gambling trying to speculate on housing or whether it's stocks they are always and forever more be the losers yeah and you notice at the beginning of all those bubbles everybody the bottom ninety percent think they're winning so it's during those times that more and more rights are taken away but also more the rules are changed for. or to allow them the guys who control the sort that go to dabis to always win their the house always wins in the speculative bubble of the asset bubble a con a me now it reminded me of actually up at davos there was the photos from reuters

insider they tweeted out something and one of their journalists was there hugging mark carney and saying i'm pleading with him to please keep interest rates low because of my mortgage you know it's very sad to see that reuters one in the reporter hugging mark carney in that way it's kind of like saying going through a ghetto and saying some very poor person in this case an impoverished intellectually bereft reuters journalist hugging the temp in the ghetto you know this is a this is like a whore who's lost her teeth who's become a crack addict who's begging for performing all on natural action the street to afford a sandwich so here's this reuters reporter begging her pimp mark carney who is the money pimp please mark carney give me an extra ham sandwich so i don't starve to death as i speculate my life savings away on the housing bubble that you created here in the u.k. like you did in canada like all central banks around the world this toothless

reuters horace looking monstrosity of a journalist begging mark carney it was quite pathetic but i think it's a good photo i think that's my takeaway photo for davus well back to the day davus started the form started here in the u.k. the other side of this boom bust sort of financial eyes economy police to ask home secretary to approve use of water cannon across the country the association of chief police officers said that the need to control continued protests from quote ongoing and potential future austerity measures justifies the introduction of water cannon across britain for the first. well i think they should feel themselves lucky that they're going to use water cannons on the on the victims of financialization instead of actually stuffing the victims into the cannon itself and firing the

victims at each other and just using human cannonballs i think that'll be the next step of george osborne the giant poker stuffing the austerity victims into cannons and firing them over the thames and then you know taking pot shots at him from buckingham palace that'll be kind of taken they've got rid of fox on thing that have austerity victim hunting with george osborne the little cute cat. there's another sucker. i think that look forward to that actually well it would be the first time it was used here in the u.k. and i like to call it the water cannon a financial fraud is the reason why it has to be bring in because they're saying that there's going to be ongoing austerity measures they predict there's going to be a negative outcome about this and you could tell it's done in order to protect the top point zero zero one percent because they're having a bespoke made water cannon in germany of course only german make cars for the top elite well yeah i mean for the bespoke water cannons here to stuff a lot of the you know marmite go sling obese brits into the can and you need extra

sturdy cannons to make it all work but there's another analogy here which is of course the water cannon you could say is not analogous to quantitative easing which is just the water cannon of money which as enrich the bankers who have been caught committing fraud like h.s.b.c. barclays royal bank of scotland and lloyds and so this is the water cannon of money the free money as a reward for committing crimes and fraud malfeasance larceny they've broken the law they're crooks i make that clear oh no don't don't don't don't throw up your marmite. and of course the spin on it is it could be worse for you than water cannon is preferable to the all there are alternatives because they say that the alternative tactics to the use of water cannon to disperse a crowd or protect vulnerable premises are the use of baton rounds baton mounted officers vehicles tactics police dogs or even firearms that is saying we could

shoot you did the water cannon are bespoke water cannon or will shoot you well you know this is obviously the point being that they anticipate uprisings due to the financial policies that have been designed to bankrupt a majority of the population here in the u.k. and they'll end up in cages or prisons or reservations we've seen this movie already before in america with the indians on reservations presented reservations made out of british people populated by british people smoking peace pipes in the putting together wigwams living in wigwams maybe your peace blankets or maybe you know they're going to be of but essentially castoffs living in communes of filth. well so we were talking about the financialization of this boom in boston and you know for some reason most voters and taxpayers are addicted to these boom and bust

that the house always wins the people who control it always when the financial advisors win and this headline then proves it's a recent headline from the mirror number of people who own their own home is lowest for a generation data from the office for national statistics show the percentage of homeowners has fallen from seventy point nine percent its peak in two thousand and three to sixty five point three percent in two thousand and eleven to twenty twelve the last time it was this low is in one thousand nine hundred eighty four just sixty one point two percent so this era financialization began we were all winners and everybody at davos every year keeps on saying i know that bill gates was just saying this that despite all the naysayers out there things have gotten better for everybody poverty is decreased well this proves otherwise is that we keep on pushing this home owner society and yet fewer and fewer people own their own homes right here in the u.k.

homeownership now is back to levels pre margaret thatcher at the time of margaret that margaret thatcher in history now will be remembered as the great del boy of british politics being eastender type who's got the great plan to strike it rich in the course of the show only fools and horses for those people living outside of the u.k. who may have never heard of del boy which wouldn't be ninety nine point nine nine nine percent of the global population but there's a scheming come out having do it in this movie only t.v. show. in america it would be jackie gleason in the honeymooners to give it some context art carney i believe was all there all scheming to make a quick buck so here's margaret thatcher who had this great plan of oh let's follow hi fredricka. and let's let's let's deregulate and let's the commercialising financial eyes and give everyone a chance to own their own council state flophouse bug infested dome and now here we are forty years later home ownership back to where they were all kids back to the

beginning again so let's go down to where grave right now scratch out margaret thatcher and put del boy because he's a frickin scheming loser well actually the five fredricka is the road to serfdom we've become serfs what our service but having to rent from some landlords to the point of the book the road to serfdom just to avoid becoming a serf not let's go all go to the root to serve with margaret thatcher and ronald reagan yeah i was surfing oh i say so you got to go thanks for being here of course so avoid taking acid with. i'm never going to drop acid with mao tse-tung ever even if you came back as a holographic ghost and offered me the best possible acid trip imaginable i would decline. he's just not a good guy to smoke dope with all right stay tuned for the second half a whole lot more.

on the money with the business over russia. maybe also reflects the massive surveillance operation that is going on when we're talking about defending against terrorism which ultimately i think is where it is a catch twenty two right because you don't want to take a program away that is saving people and creating a safer environment but at the same time you know i truly believe that we all have a right to freedom i believe we should be surveilled etc.

we speak your language. news programs and documentaries and spanish matters to you. a little too much of angles to these stories. that the spanish. visit. welcome back to the kaiser report imax kaiser time now to turn to dr clive bell dr welcome to the kaiser report thank you very much for inviting me pleasure to be here all right david cameron says he's not privatizing the n.h.s. use say he's a lying in no uncertain terms talk about it my original language was misleading but he's definitely you know lying to the public why the government economic policy is

to privacy by large swathes of our public services that's the ideology underpinning the economic reforms you know use the private sector to try and grow its trouble in the way to do that is to roll back the state cut it right back you know the n.h.s. is in the line of fire before the election and off the election they've said we're not privatizing us n.h.s. this isn't happening then they bring in a massive piece of new legislation this massive top down reorganization which they said they wouldn't do prior to the election and post-election in the coalition agreement and yet that's precisely what they do and this act basically internationalized is the n.h.s. it removes the secretary of state's duty to provide a comprehensive universal health care system and it's going to lead to improved creasing privatisation because a third of the act was all about introducing a regulated economic market with lots of external private providers coming in to deliver n.h.s. care and by the world health organization definition of privatisation of health

care that's what privatization is all the government has lied to the public let's talk about the economics of health care for a second because it seems to me a and this is a big topic in the united states as well because they're trying to rein in the cost of the health care in the us are there outrageous and people don't have health care they don't have access to basic health care here in the u.k. you've got up until recently universal health care you have the n.h.s. which is the jewel of the post-war welfare state you could say. but is it true if you look at the economics of health care for a second if you're trying to deliver health care which means a lot of pills a lot of bandages a lot of scalpels a lot of stuff a lot of doctors is the best to have the government go out into the market and buy stuff on a wholesale basis and then deliver the savings to the health care user in other words. by breaking it up and by having all these competing special groups

privatized groups by definition they're going to compete with each other and drive costs up i mean isn't the point of having government backed health care that it's cheaper so you know. speak on that a little bit not absolute you know and that was the original vision is a national system and you touched upon you know national procurement on the n.h.s. needs to a lot better but basically in h.s. isn't so much a monopoly it's what we call a monopsony it's you know it's it controls the buyer's market we should go to buy m.r.i. scanners and c.t. scanners much more and get much but it deals on both units to reequip our country you know much cheaper we haven't done that well it needs to be really focused on by government to do it properly and do it well that we're going up in the monopsony monopsony is actually we were involved in something a few years ago which try to leverage is enough to see what can i say. i need to see a doctor. but so you're putting the power into the consumer's hands essentially to

get the best price people go to wal-mart and they want to cheap price and they love that so why would they want a cheap price on healthcare why do people how does the propaganda work how do the private interests get people to go against their own self-interest by agreeing with the propaganda that they want privatized health care what they do they keep bringing up the supermarket argument you know look at tesco as the things much more efficiently but health care is you know is completely different to top that type of food market in general a loaf of bread most people can afford. a loaf of bread you know and there'd be a market price for that if you fall over and you so very badly end up in intensive care for three weeks you could have a three hundred thousand pound bill and no one can afford that that brings in the whole question you've got to have an insurance system and you kind of private insurance because private insurers will only in the healthy and good insure people who are unhealthy because our affect their profit so you could have a national insurance system therefore you could have a national health care system that was a whole argument quite basic economics and kenneth arrow in one nine hundred sixty

three told us that in his famous paper on the health care economics we both learned there's no need for years let's talk about the tesco. example because i brought up wal-mart a. big box huge discounters tesco pass the savings on being a monopolistic in their procurement process they lean on suppliers and they're doing so for the benefit of shareholders and the management of tesco who get rich by leaning on suppliers why not just apply that to your health care otherwise i want the best cheapest health care i can get why don't i want the n.h.s. which is the task of health care centrally because they're leaning on suppliers to get cheap prices why why in the average brain the average is not to put it in british terms of the person why can't they see that because the government don't want to spend large amounts on on the public service they want to bring you know public sector levels of spending right down and the way to do that is to cut back on on our public services like the n.h.s. this is twenty billion pounds efficiency savings program at the moment is going to

fifty billion pound gap up to you know twenty twenty. going to become massive in the british already under huge pressure they want to cut it back because it's crowding out the private sector of a well functioning public sector the private sector and their private sector mates of you know put them into government and funded their campaigns they don't want that they actually want to see public money going straight into private health care companies because then they can you know take it for profits take it to their offshore tax havens and you know. it's very damaging to the cooking discussion here we're also economy here we are number ten downing street and there's a line outside the door and in the line are banking lobbyists who want quantitative easing and bailouts and free money to do is engage in activity that adds no g.d.p. that adds debt to the country and undermines the economy there is that group that has b.c. lloyds barclays royal bank of scotland they are now in the same line are the health care industry they would like their system that's been working fine for years to be

continue to work fine in the way that it has been work they don't want privatization they don't want profiteers and all kinds of. those destroying it and picking apart and taking all the good bits and living all the debt so there's cameron and there's osborne and so why were the corruption is it in their soul is it in their they just are they out right taking bribes or are they just is it is about right graft or are they just stupid so they're they're either stupid they're on the take or they're just incompetent so those are the three choices yeah i mean it's right at the heart of that is ideology and their ideology is a free market ideology to sneer liberal ideology but the banks are not in a free market absolutely so i really cater to that quite happy to have state support you know state socialism for the banks but they're not prepared to have a health care system that's actually going to help grow the economy has done fantastically for economy there's just been some data in the paper that's come out

from university and stanford university that shows actually health care spending has a fiscal multiplier of around four point three with good confidence intervals around that so four point three is a fiscal multiplier i mean that's i mean we should be increasing health care spending because what'll thought what will stare it's he does it increases demands on the system because of the social determinants of health policy poor housing make people illa so you get more people actually coming into. health care services and that's what you see when the eighty crisis we go to the moment but then you've got little sterritt see of onto the n.h.s. by. we sense we haven't got the supply in some of the hospitals to to deal with it's a real perfect storm for the n.h.s. and that they're cutting back the state and cutting the treasury's cool back five billion pounds in the last three years now saying oh it's flatlining spending but we're going for use on inflation on top of that so it cuts all that's all i'm and this is what happened you know this this government is is running down the n.h.s. they giving bad headlines because then the public would say well actually we do need to change offer let these private companies come in and i actually that is not

what the public really wanted to knew the truth of what was going on there would be huge anger people be out on the streets and that's why we set up doctors nurses we don't want the body politicians you know we feel we've got to tell the public what's going on and that's why we set up a you know the national health action party to take these guys on and raised public awareness about what's happening to the health care system is disgraceful what's going on well i mean listen to cameron i was born and boris johnson the mayor who routinely be little's the average british person by saying they're stupid they're they can't survive without government handouts and it just makes a mockery of the whole idea of being a public servant i mean the model that cameron the ideology that he's pursuing by destroying health care is is almost so draco nian in its in its implications that it seems almost like he is more interested in exterminating anyone so people are complaining that they feel that the government would rather see them dead than alive with that with how ridiculously ideologically work these policies are but i

want to ask you know the question you know you are an oncologist very skilled doctor if the u.k. add a u.s. style health care system. you would quadruple your income instantly so you're arguing and to some degree against your own quadrupling of income speak on this well i think you know what the n.h.s. is instilled is a national health service is a public service ethos you know doctors for the main don't go in it for the money obviously there's a few that you know we've got a hundred fifty thousand doctors and there's a few bad apples amongst us but the vast majority of got this n h s running through their veins is public service ethos where they want to do what's for the public good now some people do a little bit of private practice on the side to go to separate private health care system i don't personally do that i'm not ideologically opposed to having a separate system the idea of a competing system is mad because it undermines the doctor patient relationship it's really interesting in terms of american medical profession isn't that the american medical profession lost public support forces in any other professional

group during the rapid commercialisation of the health care system in the seventy's and eighty's last huge public support because they're putting money before patients when the patient comes in they say well you need this procedure they they make money so if there's a borderline decision whether someone actually needs it procedural doesn't all those but we're decisions they'll give that treatments now prostate cancer i'm going to prostate cancer if you go and see a prostate surgeon in america you'll get across to text me if you see if you go and see a radiation oncologist you'll get radiotherapy so it depends who you see in terms of what treatment in the u.k. we have careful discussion in our meetings and we do what's best for the patient we give the patient a choice in terms of what treatment they want to have so if i go came across station and i accidentally get on the wrong train the conductor doesn't bother whether i'm on the rug train or not is going to stand my ticket similarly saying in the health care system if i happen to wander into the wrong department or the hospital they'll just give me whatever procedure they're doing over there the hospital they don't really care what the situation was at all they've got money to make that yeah you know it's an aid you get that if you've got the money in the

united states you can get very good care it's a system where you've got islands of excellence in a sea of misery because for fifty million uninsured people it's a disaster. type of system and the reason why it's. too. and seven trillion dollar failure basically is because of supply reduced demand you know and that goes right to the heart of market failure which is good information asymmetry patients don't need don't know enough going up against the supplier of that service and if they're trying to make money the patient is a commodity and they will take advantage and they will make as much profit out of them as possible that's what the market does it makes as much profit out of a system as it can do so any problem is market failure. markets fail in health care it's inherent problem in health care and the more we push the markets the more is going to fail we've got twenty five years of a failed market we need to abolish the market in health care and run is a proper public system publicly funded publicly provided publicly accountable we need to be much more open and transparent. so much going on it has

a report thank you and that's going to do it for this edition of the kaiser report with me max kaiser and stacey ebert i'd like to thank our guest dr clive adele if you'd like to get in touch tweet us at kaiser report into next time. on june sixteenth one thousand forty one we had a graduation party at school and the world. always full of good. in september. one point to sort out all the shells were empty.

it was the main storage place for all the food in the city people because it had small traces of sugar in it try to eat it is. but i couldn't. look at the list incredibly every bombing. was a direct hit on that very shelter and everyone was buried underneath. all of them would. tanya. well tell me how you are my little grandson. i know. i don't like. being cut us.

except as an ecovillage but the spiritual side is destructive. i tried to convince her to try to preach that it was a sect but it's dangerous and she had to leave it was a story she had lost her mind. you know you she will come back i know it was the way even if it means i must wait until my dying day. the world economic forum was created in nineteen seventy one and for over a forty years the dirtiest names and business banking and politics i've met and davos switzerland it's years meaning they claim they are meeting in order to devise new ways to save the world to deliver prosperity it's all.

right. protesters in kiev kidnapped three policemen and one is reportedly released with a stab wound as officials demand the immediate release of the other two officers. the ball was god how i have brough social gathering of europe's far right elite triggers anger among thousands in vienna. and the third anniversary of egypt's revolution is marred by a series of deadly blasts in cairo as well as street clashes with security forces using tear gas to disperse opponents of the army backed government.