ago could have afforded to buy there based on their average salary at the time now that average salary today would only get you to like further out on the commuter lines in places like red bridge well i mean it's not really middle class at all it's just being split right down the middle so you've got the tops of the brim and then you've got the everyone else the losers are being forced out of this median london area code where all of the easy money being printed by the social bank is available for terms undisclosed and nontransparent yeah and of course it proves once again that working for a living is a chump's game because if you have to work for a salary. you have nowhere to live and you might have a commute that's two or three hours long to get into that job that can afford to pay for the house that you have way out in redbridge i miss the british working class you know these guys that come and eat their beans on toast and then you know a little further of two pound or two pounds and then they go get

a jack hammer and they're going to you know working people i missed them you don't see them much anymore in london you see tourists you see toph's you see dandies you don't see working people anymore you don't need working people anymore you don't need their you know the cops you don't need firemen you don't need any kind of workers you don't need their paycheck you know the taxes because you can just print the bank of england you don't need them there a need and in fact the kind ons you know in america it would have been called a lower middle class and most people are thinking that somebody who works at wal-mart or maybe an auto mechanic or something but this is like anybody below the top ten percent can't afford to live in london so they say but by two thousand and twelve an average home in whole sections of london including the city of london kensington a westminster have become completely on affordable to families earning forty five thousand pounds a year net putting them among the top ten percent of all earners in the u.k. the situation has become markedly more difficult for cling ons since then with prices contin. going to recover from the two thousand and nine slump recover me

pumped up with all the money that was taken from the workers and savers and given to the speculators and the profiteers and so what you end up with london as disney world was a very high priced tourist destination the west-end there's this thing people from around the world are coming in and there is splashing out a lot of money but it's not place other than an amusement park but the other thing is you know we know somebody who is involved in property speculation and he said that his friend who's a chinese billionaire what he is doing buying up properties including here is that he reckons that is as long as they get fifty percent back they don't care is better than going down to the local money laundering mat and you might get only ten cents back on the dollar that you're taking out of your own home country right if you're a corrupt chinese businessman and you're trying to fence a billion dollars that just stole from the people of china you can come to london

and you get fifty on the dollar on the pound to fence the money it's better than going to some other operation maybe only getting ten or fifteen percent on the money per employee and from your government from your country well actually they're making money they're being paid by the fence here right now that hasn't gone down but they're willing to take fifty sixty percent loss right now the other thing is. speaking of bad neighbors or people who can't afford certain areas there are people who can well across america you know that whole regions of america have been decimated by fracking and this is something that's going to be brought here by the way and here is the headline exxon c.e.o. joins the lawsuit against fracking project because it will devalue his five million dollars property as exxon mobil c.e.o. it's rex tillerson job to promote the hydraulic fracturing enabling the recent oil and gas boom and fight regulatory oversight the oil company is the biggest natural gas producer in the united. states relying on the controversial drilling technology

to extract it the exception is when tiller since five million dollars property value might be harmed tillerson has joined a lawsuit that cites fracking consequences in order to block the construction of a one hundred sixty foot water tower next to his wife's texas home now these water towers of course the process of fracking requires a huge amount of water and giant lorries giant trucks going in and out back and forth between the water tower and the fracking location stirring up a lot of dust a lot of traffic a lot of potholes in the road the economics of fracking a horrible because the cost far exceeds the benefit and to g.d.p. from burning the gas that you are frac so your debt in the u.k. will go up as a result of all this fracking that's just on the economic side plus it takes more energy to frack than to get out to burn so the strictly on the british thermal unit the bt you equation it's a net negative it's like ethanol united states is also a net negative you don't hear much about ethanol anymore because it came and went

up flash because it was a joke was just a way to churn a bunch of derivatives and energy futures contracts to make a few people rich on the commission some of them with fracking you've got the big six cartel here in the u.k. they'll make a quick payday they'll leave that mess for the government to pay the citizens will have to have their taxes raised and up a lot more debt and they won't be any warmer and the price of energy will go higher it's a net loser that's just on the economic side on the ecological side. yes or causes cancer ok that's all i need to know so here is a guy he's a c.e.o. one of the largest corporations in the world the biggest natural gas producer in america one of the biggest oil producers in the world the corporations not the nations and he is in a obviously very wealthy area whatever city it is a five million dollar home the poorest region of texas however is the one going on undergoing the most fracking the most new fracking wells suddenly since two thousand and eight and it is known as the eagle ford shale play this four hundred

mile long fifty mile wide bokken olive oil and gas extraction stretches from the leon county texas in the northeast to the mexico border in the southwest since two thousand and eight more than seven thousand or oil and gas wells have been sunk into the brittle sedimentary rock another five thousand five hundred have been approved by state regulators making the eagle ford one of the most active drilling sites and america now that paragraph goes with this headline max fracking boom leaves texans under toxic cloud this is a poor area of texas they're under a toxic cloud a lot of these drilling sites of five thousand five hundred they don't even have to report to any environmental agency what how much toxins they're spewing into the air and the article follows one woman who has asthma and she could no longer even go outside she could barely drive anywhere that four hundred mile wide region by the way. that is the same distance i took a little google map here from london to edinburgh exactly so that's that's the size

of this area that's the size of the area if you look at the fracking map of the u.k. what the plan fracking map is you see it's about the same size. helped by a scheme for real estate which is a copy of the fannie mae and freddie mac. debacle which caused the subprime crisis of two thousand and seven the british energy corporations are going to take fracking even though in america it's been proven to be completely on economical and environmental disaster but they're going to do it here anyway because why nobody in the media here except for maybe george will be up over there to guard him will say anything about the fact that this is an ecological disaster and more importantly an economic boon doggle that will increase britain's debt to even higher than it is right now the highest to spend a decade well you talk about the health problems now this woman that they cover here limbering she has severe asthma as i said but as the article points out people who live close to oil and gas development whether in texas is eagle ford

pennsylvania's marcellus shale or wyoming is green river basin tend to report the same symptoms nausea news leads headaches body rashes and respiratory problems public health experts say the shared experience just point to a pressing need for improved air monitoring quote if you have pockets of communities with the same symptoms downwind of several sources then there is a body of evidence says isabella simpson an atmospheric scientist at the university of california irvine who studies air pollution around the world so there's a body of evidence but because the government and the regulators and the regulators by the way most of them come from the industry itself and then go back to the industry itself the regulators refuse to collect any of the evidence don't ask the corporations to collect any of the evidence so there is no evidence other than the evidence but we've got a triangle of fraud here because the government is going to underwrite frag. coming to the united kingdom by issuing a lot of government debt that is to say increase the debt it's going to cost after

wave after wave of health related issues at the same time to privatizing the national health service or the n.h.s. so the government is effectively taking money out of the n.h.s. and giving it to fractures and when the cost of the health issues and the people who are complications of cancer that are related to fracking irrefutable proof they won't have had a chance to go to but i suspect the government under cameron no where else is the next leader will give a bomb to a fracking bomb that's good for natural gas under certain circumstances but don't apply to you in this lifetime and that'll be their their their you know recompense for having allowed this to happen well they're going to be in many more cling ons following this because as lynn boring said to her home which she planned to retire which was like everybody here her retirement plan was her home well she can't sell it now because it's in the wasteland and there's very little sympathy as the article points out americans don't care as long as they get their cheap gas so the

health issues faced by people who live in drilling areas not just in texas but throughout the united states simply don't carry enough weight to counterbalance the financial benefits derived from oil and gas development said rod. jr an assistant professor of political science at texas tech university energy wins practically every time he said it seems cynical to say but that's how states see it promote economic development and minimize risk factors which sounds exactly like what david cameron says here to the people here it's about economic development will try to mitigate risk disasters right and it's like it's about economic catastrophe to give his buddies a big fat paycheck and that's the bottom line people of somerset a flooded out of their homes there's no insurance available anymore for your homes drive a son home and yet do a squat why because the government didn't build blubber. they gave the money to barclays h.s.b.c. world bank of scotland and another for a comeback in the u.k. . cookies all right we got to go thanks for being ever more of this kind the report

. states and for the second half a whole lot more. i marinate join me on. that impartial and financial reporting commentary contribute and much much. only on the bus and on.

cross talk rules in effect that means you can jump in anytime you want. the pledge was terrible to say the i'm very hard to make out a letter to get along here is a plot that you never had sex with other make their lives let

alone. listen to the i'm listening. to the. welcome back to the kaiser report imax kaiser time about a third and responder able arguer at asia provocateur dot blogspot dot com dot u.k. everyone with as reported by high not to be oh all right first question most of the

western media is focused on ukraine in venezuela not so much on thailand where violent protests are also happening what's going on in thailand at the moment you've got a group basically the democrat so-called democrat party. bunch of former m.p.'s. they kind of they stole it by protesting against amnesty bill back in november the amnesty bill was immediately dropped by the government and they sort of increased their kind of demands going on basically they kind of said they wanted to end democracy at one point. blocks the government did dissolve itself called an election and they tried to election people voting using weapons grabbing people by the throat attacking ordinary toivo as ordinary poor type voters . get to get the guild into the dimension here so from an outsider's point of view

there are the red shirts and the yellow shirts so kind of as objective as you can you know what what are these two sides think they're doing the richards believe that they are bringing democracy there was something to morsi they're trying to establish sort of their political rights the political rights of any and so on the yellow shirts have a kind of attachment to the source social cultural power of the monarchy and of the old establishment and they believe that any threat to that void democracy or virus of astonishment of a sort of free market or the mood swings or petty bush was he is a direct threat to that there is. no sort of aspirational culture in the sense that usually they were saying around a lot of these uprisings you've got a first wave of i guess you could call moderates who are seeking change and then there's a way behind that where it's radical because the moderates the protests go on for too long and go longer than people can hold out for things start to get nasty and

then it becomes a just more of a street fighting. you know violent situation at this point time what's didn't work what stage of the narrative are we at in this in this scenario unfolding in thailand because i i mean up until recently i have done is that there have been periodic uprisings in thailand but they seemed to calm down pretty quickly as quickly as they rise up but now we see something emerging that could be a little bit more of a country shaping event continued till he said no i mean if you if you look at what's happening in tyler now mean the protesters have been called fascists neo fascists boy a whole bunch of time academics and political scientists they've even been likened to mussolini's blackshirts by forbes magazine and boy somebody from the cato institute which is hardly a sort of busty and

a sort of radical left wing for so they're kind of to see them a slew of radicals in terms of changing something no they want to kind of keep things as they are all they talk of reform but when you actually look at the reforms they don't actually have any plan of reform it's more they want to establish the status quo so the rule people who are trying to bring about radical change in the time and sort of relevance in a sense was relevant to thailand would be the rich all that sort who say we must accept political royds. so the elisha's getting more extreme but the rules extreme they were always very very extreme they were violent and we've had over the been linked to the our stocks. they're linked to very very wealthy families and the soil means a billion families to be appearing on stage and saying poor people shouldn't have the right to vote but it. aristocracy versus poor people yes ok now that seems like

a recurring theme around the world that going back a couple of years we coined the phrase global insurrection against banker occupation or jabil and we see wave after wave of this around the world started arab spring we see it in ukraine you could characterize it in this way venezuela south america now are saying in bangkok so is it can i say that this is part of this global insurrection against banker occupation because you start talking about aristocracy see versus the poor then you're tapping right into the fact that a few bankers around the world and all these countries including thailand have colluded to rob the people would say probably here's a bit of the just bank said that if you look at say one of the leading figures in the is the former. finance minister the democrat corn and he has the company and he is a j.p. morgan guy and so. that got away from. us i checked j.p.

morgan was a banker but he's in there saying that. one of the big issues at the moment is a cultural subsidy scheme called royce pledging with the government has bought royce at a horror price and then sells it on and it's interesting to see all these billionaires complaining about it. when they were in why is that interesting otherwise billionaires complain all the time you know j.p. morgan goldman sachs involved and all outside of detroit they're warehousing aluminum and other metals and creating a whole totally distorted market and basic entities we know that goldman sachs totally overthrew crease with flooding the country with bad debt and now picking off assets for a penny of the dollar so why would this be the same in thailand as just a bunch of bankers they find thailand as ripe to be exploited in this way and this is what it seems like part and parcel of this growing phenomenon not just about food prices first because on one hand when food prices get to

a certain level people revolt and riot roughly forty percent of disposable income and i've heard reports too reports i've heard reports that food prices are on the rise and this is contributing to unrest but also according to what i'm reading here that part of the historic floods and months of unrest is keeping inflation low and i would assume that would include food so if you can talk is that true or not true because the definition of inflation is different in different contexts so first question is what is the present food rising the process of food when it was ruined the human flooding very hawick couple of years ago i wouldn't say it's particularly a huge issue now i think there's certainly fear is around that issue and one thing when you are poor oversleep when you you know when you live in will sort of hand to mouth subsistence wages a small increase in food prices would have

a mask. but this is what we've noticed around the world but so much to pour is the price of food rising or would say that yes it is ok scenario where they can feed themselves i mean the average price over the whole country might be what at one level but the people who are upset and up there the price of their food is going higher but i think there is some wealth distribution this government that's been in power has attempted to redistribute some wealth there's no doubt of that and i think part of the reason that there's been this so-called uprising now is the sort of the stay below is that process and prevent redistribution of wealth and that's not to say that the sort of taxonomic block who are in power as such so called a some kind of benevolent will three billion as they do it for a reason because they know it can win votes and keep them in power but it still is still being done to be taxin the former prime minister correct yes tax it is the deposed prime minister was ousted in a coup and now his sister is the prime minister i mean when tanks and was in power these first sway the government they reduced poverty in east on the poorest there

were toilet dramatically they redistribute wealth dramatically they brought in health care schemes where literally poor people who would dawning of easily preventable diseases before could get affordable health care now those policies of being dismissed as populist i would say that they were doing the government was doing it still looking after its population and that is that bloc are opposed to that using terms like self-sufficiency economy that somehow the poor should just wait for charitable hands out handouts rather than see to kind of development will devote their economy develop the local economy develop the infrastructure etc the infrastructure in thailand is appalling for a country of its wealth it's thirty fifty sixty years old some of it well let me ask you and i don't mean to be. characterizing this in any way you know bismarck saying it anyway but let's let me draw a rough comparison to. the the conflicts the ongoing cause. well it's in northern

ireland and the reason i mention this is because if i go to northern ireland and i've been there and i sit down with five or six people and not a single person can tell me what these troubles are about theirs don't know where they live they don't know what counties there are and they don't know what side they're on it's just a gordian knot of hate basically with no beginning or end it's just a pile of nonsense is there any similarity because to this thailand situation because the opposing forces the conflicting forces the there are there is some there's a lot of overlap there's if it is clear cut what what's what the two sides are. i suppose but i would say you go pro democracy versus not a democracy i mean that would be my take if you really wanted to simplify it down of course within you but i mean what about the people who are so that you know in egypt is pro democracy a they they going to go in to here square yeah democracy and the other wiped out

because they don't have the stamina there are the resources there are the good of you have another gone you know it's it's going to us a place that's i wouldn't characterize as chaotic so ok here we have pro-democracy thailand that is the first wave over an hour into the second way which is like oh my you know what the frick is going on here i would say the. say that democracy is not yet fully being to stop wisht and so on i don't still think that we're moving towards that point so i don't even know if you could even characterize it as there's been a democracy established and there's other parties who are attacking it there's always there's been you know eighteen coups this being the most vile blight has eighteen coups yes in thailand since i think since the nineteenth there's been a massive massacre off the mask there's been a dictator or i mean brutal dictators in the sixty's fifty's sixty's you had a guy called summertime rot who was well known for. execution people himself ok now

the city. well the americans of course along by the us. ok so that they have got somebody with latin america central america yes the cia active absolutely ukraine obviously john what's its name john mccain is over there you know stoking all kinds of fervor support. giving no support to the democratically elected government at that time i thought john mccain was for productive microsleep but i guess he's pro shysters and john mccain we love shysters all right so we've got about a minute left so let's just. talk about where we are now in terms of the economy in thailand where the where it where is it now where is it heading only think the economy if this political stability will you know develop grow and i think that's one of best as won't just move out of there because they see ads you know as a sure bet but i do think that the you know the political crises damaging

confidence and i suppose that's inevitable right and is it regionally is there much of a split between the north of the south i mean it's on the tourism minister stuff and well i think the south is much wealthier schools being much wealthier into on the north the northeast is always been poor that's why the present government has been pouring resources into that and there's some resentment over that from the sort of bangkok and the southern people who tend to be sort of progress rather than progress ok andrew spooner out of time thanks for being on the kaiser report thank you and that's going to do it for this edition of the kaiser report with me max keiser and stacy herbert and i think our guest andrew spooner if you'd like to get touched tweet us a kaiser report into next time bio. democratic revolution or government cool as russia and the west trade by.

crane lies. what does the future hold for the deeply divided country. you don't know if you don't. know response to. most everyone in my life that i cared about their government and then. i came to skate well. i was a national champion in track and field and also i was able to go and qualify for the olympic games. you know nine hundred eighty eight i started to experiment with that the drugs i had lost all the financial means that i. was really on the street

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breaking news and also international local pro russian first houses and government and polymer buildings in some one ukraine but demonstrators who refuse to recognize the country's new need is only a clash with a private my downright meanwhile in kiev. is judaism instead of cheers but even they were placed in the protestors blood just a comes out of warning the form of opposition against letting them down. if there's one thing you don't want a potential on the banks of the china to advance if that is. the rule extreme charter. is just one of the diplomacy gaps surrounding president obama's choices so foreign so this.