just the day we were out it's only you know it's not holy moley but holy moly it whoa whoa maula that's all right oh a. why do you keep saying wave a it's like huevos rancheros. that you like yeah i like the drop of it's great. so the i have pulled us back in again we are here actually we actually went to the russian embassy to see our friend don't go price received an honorary degree from a university and russia and it was quite interesting of course that means that we were photographed at the russian embassy here the russian ambassador to mexico is there which means you can never be president of mexico max i told you go. and yeah i did i called him because he doesn't believe him but. well so of course while we've been here. janet yellen has proclaimed that you know stock markets are at

a permanent high plateau of course mexico city is at quite a high plateau and we're quite high up in the air not only here above the angel but in terms of elevation but you know if you look at europe while we've been away while we've been here in mexico city things are not looking too good because just as janet yellen was declaring only a few days before janet yellen declare that markets will never ever crash again of course the italian banks as we've been warning about here in keizer part for quite a few years the italian banks are beginning to crumble and stock markets buoyed by italian banks rescue but critics say it has killed the banking union critics are saying deal to save italian banks has ruined credibility of banking union proponents of the deal claim that it was necessary to protect the prosperous then neato region and preventing damaging italy's nascent economic rebound so yes

seventeen billion euros the italian taxpayer is on the hook for bailing out these banks and you notice what they say that created the people who are endorsing this bailout they're saying that well benito area so prosperous these are where the rich people live so we should protect them well you know first of all saying there won't be another financial crash in our lifetimes i mean she believes she is correct she believes that she controls the market that's the north or tarion regime for you they this is what she believes that the markets federal open market policy committing committee in the central banks have the ultimate authority on prices that's not a free market that's like apple ism that is a not arthurian regime and as far as the wealthy areas of the italy going bust and we should save them because they're going bust well again the central bank the e.c.b. mario. jaggy they have already printed fifteen sixteen trillion dollars to bail out their friends their oligarch friends during since two thousand and eight and

they've said they signal to the marketplace that we've got another fifteen sixteen seventeen trillion dollars to print to make as many errors as you want to making bad loans to par with money and zero percent interest rate to buy assets and precious. paintings and shadows it doesn't make any difference yet and of course southern italy by the way is some of the horace region of the entirety of europe so what would they receive the same sort of benefit would they receive the taxpayer bailout in terms of bailing out the southern tip the shoe of italy with a with a bail them out probably not because they would say wow they're poor anyway what's another with a banking catastrophe for them no absolutely not i mean the so the boot i believe that kicks as a slave to the med you know that's that again that's the apartheid of interest rates you know if you're a friend of janet yellen draggy live in

a zero percent interest rate world where you never make a mistake that isn't covered by the fed if you're not if you're living in the bantustan of sicily or in the southern part of italy alibris and i think of the two down there right i mean then you're never going to have access to that capital at that rate and so you're condemned to progreso all poverty and beth so again you know in this the context of this notion that markets will never crash again markets of course crashed when household debt hit all time high in two thousand and seven and then it began began to we had a credit crisis well now debts are hitting all time highs again here's a headline from the united kingdom that ever a shrinking kingdom called united kingdom over there in the. the atlantic ocean well the british are bingeing on credit and this is from bloomberg news and here's

a chart there as you see credit declined during the financial crash and its hitting all time highs well one thing that helped the u.k. economy outperform since the breaks at vote was consumer spending but the source of their funds has been cause for concern at the bank of england which warned this year that household debt remains high and rapid credit growth could pose a risk of underwriting standards aren't up to scratch i can tell you underwriting standards are not up to scratch and he cuz everybody in the united kingdom for the most part unless you're an aristocrat works at one of these dear zero hour contracts sort of get commie jobs well yeah of course the chairman of the bank of england mark carney he's been chatting about the need to possibly raise rates because the economy according to what he sees

a showing inflation of course brought on by the cheap europe brought on by the catastrophe that is breaks it and of course that will never happen he will never raise rates really in the foreseeable future because his job is to keep money as cheap as possible for the oligarchs he's not going to walk the trend and say i'm going to raise rates i mean he can say it to try to job on the pound higher and to try to scare markets into reaching some different state but he's stuck to do it obviously because he's he's never is just can't do it that's on his his job as a as a as a tool of oligarchs is to keep them cheap he's going to flee to canada long back to canada long before the interest rate apartheid wall falls down of course going to pull down the interstate apartheid wall i think you talk about that all the time how i think the people well eventually pull it down one day once they have enough.

you know also in the u.k. they were talking about this disintegration happening all the signs that all is not well in austerity hit you know bottom ninety nine point nine percent this world over which janet yellen rules she believes that she's this wizard of oz like character that can control everything well continuing on in the u.k. here is a story where this you know austerity britain how it's spent trying to save five thousand dollars and a cost to you bill in pounds that you can't afford the government faces six hundred million pound cladding safety bill at a grand felt our disaster the british government faces an estimated bill of more than six hundred million pounds for replacing flammable cladding on house and blocks after the grenfell tower disaster sixty blocks of so far failed cladding fire safety checks everyone tested so far with another five hundred and forty still

to be looked at so i mean just that sentence having flammable cladding on the side of your building dizzy is crazy next they'll be buying like flammable children's pajamas well one hundred percent of the tests prove that that you've got flammable cladding on acceptable that's not just an air of the sun or oversight that's a policy of social cleansing. you know these this flammable cladding as i said before of these i climb on be of the tory government in the u.k. their purposes genocide to get rid of the poor me because i don't want to look at them they don't want to feed them they don't want to talk don't they just want to kill me you know janet yellen the federal reserve bank of america just did do stress tests of the big banks in america in the top thirty four paralegal pacifying colors but it does this flammable cladding reminds me of the testing that you know of what actually happened once

a real fire happened in the global economy what happened in two thousand and seven two thousand and eight two thousand and nine was all the banks erupted they were all flammable there their debts were bad it just it went up it was all paper it was paper wealth paper wealth goes up and spoke and i think you know janet yellen is saying right now ok we've replaced our in our global financial monetary system we've replaced all the paper with you know the flammable bad toxic debts with. you know safe stuff now and yet right they. there is a parallel they're obviously the idea that you can fix a broken economy that's gorging itself on worthless fear money by printing morphia money would be like replacing the flammable cladding with gasoline soaked rags which i'm sure that someone in the tory government probably has that suggestion because their policy is social extermination just like in the

realm of monetary policy with the interest rate apartheid wall their goal is to exterminate i mean it's clear that the goal is extermination not not not not social policy it's social terminations but another bit of the story about the grenfell terror in these flammable cladding is that here you know the likes of janet yellen and mark carney and theresa may. you know donald trump ask us to believe in the power of our authority is our elected officials that they somehow know what's going on so here this building burned down it turns out that one hundred percent of those tests and of these a tower blocks where they put poor people for the most part they have flammable cladding but on top of this look at the incompetence of our elected officials meanwhile plans to test every hospital for fire safety in the wake of the fire that is presumed to have killed at least seventy nine were in chaos after fire chiefs told hospital leaders that they did not have the resources to carry out the

inspections and on top of that here is our government this incompetent government who says they know everything about what happens online they know russia hacked everything everything that goes wrong online is russia well listen to this bit of this here's how incompetent they are. another n.h.s. chief executive said the unprecedented order is to test all hospitals for flammable cladding telling trust serious checks of every i'm inpatient facility within thirty six hours have fallen into n.h.s. spam filters leaving many hospital managers unaware of the urgent. i may make a good point they say the government claims that they're all knowing about the presence of russian hackers in their electoral system and in their government and they can point to different files and different hacking and they know they're there omniscient almost in their in their knowledge it but they seem to forget overlook

the fact that their social housing buildings are wrapped in flammable rags and people are smoking on the balcony their hospitals aren't fit for purpose and they're going to go up in flames at any second it's again. this incredible british phenomenon of. profound narcissistic inbred stupidity. that runs the country for kleptocrats that when you live there and interact there it puts you in a permanent state of nausea. oh speaking of that well we got to go to the second half don't go away stay right there.

we might need. a lot of. money. magnificent. some place to see my food food. save us some people really nice and friendly and i might the foreigners feel welcome in russia. because the food was a very enjoyable place to be. ok told. some basic go through. people. that. are still.

welcome back to the kaiser report imax keyser time matter go to our man in mexico city john mill ackerman author and journalist welcome john thank you max welcome to mexico city great to have your man assents asked dick as our home away from home soon to be our home our home yeah would love to just move here why not they trooped when they do us elections probably because of mexico not only domestically calling them racist but your president afforded him an audience with a head of state making him look presidential talk about this. exactly president mexico to complain and yet though played an instrumental role in bringing trump to

the white house people talk about you know russian influence in the elections but actually they had to think that really influenced and in the u.s. election was the mexican president and make it plain and yet to a invited donald trump in the middle of the electoral campaign on august thirty first two thousand and sixteen and this invitation for trump to come to mexico city of sort of two purposes on one hand it may trump looked like he was a statesman and meeting with the foreign leader and you know having a formal press conference about the future of international relations and troops in a government body in mexico mexicans i don't hate all mexico even though i'm calling you all you know. rapists and then and criminals this guy over here that's been you know to my buddies so it allowed him to get away from these the attacks of him not being serious and him being a racist and so their opinion yet that was playing a role directly in the elections and here in mexico people were very angry about

that and you could imagine right now that's right panetta was interfering with american elections. directly obviously overtly and that's a scene to be much of a cry there that those troops into mexican rhetoric and his protectionism and renegotiating nafta help or harm the left in mexico doesn't help you convince the population of forks their own path well yeah that the political context here i think definitely makes mexicans think about the need to you know recover their sovereignty not any kind of invitation to trump in fact to the contrary our present president rickett been yet though is the problem in mexico so far he's he's and i'm mexican he's and i my group you know wants to build his own wall in the southern part of mexico with with what amala so he's the real. partner. or but their rival trump in your i think definitely makes mexicans who are you know

a. strong leader who is going to defend their interests and so this could have a real impact on the election in two thousand and eighteen of course yeah it's pretty remarkable that this is really the global conflict around the world this election meddling beat on both sides of the border election a mexican elections u.s. elections all happening around this border wall now the last time we spoke there was mass protest over gasoline price hikes how's that going now did the protests change anything jump. well there's been a whole series of waves of protests in mexico every you three or four months you have massive protests in january were about gas prices that was became really aggressive to the mexican population because i'm dipping into had promised that he might be privatizing the oil handing over the control of oil to foreign companies

but in the end this is going to help the consumers by reducing prices and what we saw that was actually not the case the mexicans were very upset because they have been you know to had lied to us out of through his teeth and so this was a massive protest which of course was responded to through repression through censorship mexico is it not a democracy it's not a country in which protest is tolerated pretty much pressure is tolerated just this last june fourth there was a massive electoral fraud in the state of mexico which is the most important state in all of mexico the size of the country sixteen million people live their life backward or about a mile up. on the sunday june fourth there was a electoral fraud so there's a real i'm tension there's a real this contempt in the population they really want to express themselves but we're being really cut off at the top through this authoritarian government which is of course propped up by the u.s. government not only by trump but this all began with with obama and with bush as

well of course right and i want to a pemex the national oil company what's the government's plan to deal with the lost revenue from pam exxon now that oil is kind of you know the wells are trying out john. well that right the well the prying up and also of the revenue that's left is being cut off by private hands and transnational corporations and so there's a real fiscal crisis of the state this year two thousand and seventeen the budget for education for culture for health care for research have all been cut between you know five and twenty. and this is really making an impact a negative impact on the welfare of the mexican people and there's a real need a real call for renovating industrial policy renovating you know energy policy and really looking back at the strength the economic the historical and the cultural strength of the mexican country. and in

a similar way as in other countries in the world i think that you know in the morning the party prince is very similar to the pole and most party in spain to c.d.'s and in greece to the phenomenon of bernie sanders no i've stayed short to jeremy koran in england and i really think that mexico is the frontlines of the battle against the resurgence of fascism with trump you know we've got this long border and we have this really active political uprising being civil society. right it's the case where people are trying to take politics back into their own hands because the political class around the world has become so much more a bond that they have abdicated their role as political leaders they've cashed and all the chips that they can through various the a liberal and privatization schemes and they are not really participating anymore so people feel abandoned you know in the u.k. they had a grand felt our burn down through neglect it's just that nobody cared about these people anymore they tried to you know tell me you know if i call them

the nail liberal policies you know in the u.k. count as i plan to be of of conservatism in the u.k. they're just trying to exterminate a whole class of people just burned him up. and the response seems pretty lame now as a politician in mexico city wants to raise the daily minimum wage to ninety two pesos per day which is a bit over five dollars a day an avocado cost seventy one pesos how do people survive on the minimum wage john they don't they don't the minimum wage is not a living wage or death wage as you just mentioned this is you know forty eight cents an hour u.s. cents that is and now as with the minimum wages no one can get by on that half of the mexican population under the poverty line sixty five million people approximately and we have plenty of near liberal death as well you know this drug war has created over two hundred and fifty thousand deaths over the last ten

fifteen years and so you know the mexican. strength of you know social solidarity and economic and not to resort to really this being pummeled under this new you know liberal attack which is coming from the international banks and an international on the calls of politics some conspiracy as well and so. yeah like you said people is going to be having and the government is determined back home on the people and one of the major things should be of course yes we need to be talking about raising the minimum wage but intel is now talking about that people are talking about you know renegotiating nafta making it even worse that's trouble big proposal in the next government is excited about it's the president right well the the nail liberal ideology is this generation's version of off our tarrying ism and it's leading to premiss you know link to extinction events of the human population here in mexico it's leading to extinction events in america as tens of

millions of people are going to be taken off their health care policies and knowingly that this will cause mass death the way a wave of death. you know this is the final solution wrought by. trump and other world leaders who seem to think that the problem that we all have is are just too many people and we need to get rid of them. now warren buffett recently warned that billionaires are the problem with the u.s. economy are billionaires also the problem in mexico namely the rig model ballistic oleg up a list excess tone john absolutely mexico is one of the most unusual countries in the world in which a whole oligarch you really controls the economy there's a recent study in which demonstrates that you know if you put together all the well . you know four or five richest people in mexico just their financial earnings just

their interest in a year could employ at the present minimum wage in mexico three million people without them of course losing a dime from their capital just on their interest and so yes mexico is a shining example of. incredible inequality is being created by this global system there right well it's been estimated that there's approximately twenty trillion dollars in the global economy that's completely stagg. it is just sitting stagnant and bank account to start moving in now if you look at the panama paper's results and look at other studies this is just hoarding you know i think warren buffett refers to a phenomenon in the the money hoarding class they're similar to those people that like to hoard garbage in their garages you know they go into the house there's phone books from twenty years ago or a hamster in a cage. linings you know from from five years you know garbage they're

gone money is become garbage that billionaires are hoarding because they're not using it as a circulating the money supply i'm sorry the money velocity number is hitting new all time lows that indicates that these billionaires are just taking the chips off the table and putting them on the mantel piece. and they're just watching as people are mass exterminated i mean this is the final solution isn't it john i think you're right is that you know the new liberal find a solution and that's why they need so much more authoritarianism so this last week the new york times revealed a massive spying scheme being instrumented by complaining that those government and which he has purchased special software from the israelis to. be will following up on every single movement and statement made by journalists and human rights activists. all different sorts of people within

a mexican civil society and so we're actually getting we're not we haven't haven't we've not only failed to transit toward a democracy in mexico but we've gotten we're now transiting from one third terence's than we already have to you know totalitarian state one town tearing state one which gets into the personal lives and want to have this kind of total control over the people and that's necessary at least they could think and this is very precisely because of. the incredible injustice and awareness of this injustice through social networks and other gun networks that the mexican people to the world are starting to wake up to the up and up and yet america they see the genocide happening in mexico by the government and of course they blame russia who knew all right so could you stay for another segment john of course a pleasure as always max all right well that's going to do it for this edition of the kaiser at four with me max geyser stacy ever like to thank our guest john bill ackerman generates on twitter it's kaiser report until next time by al.

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say you. know what my. own image have nothing. to love me. some steam. a live look ma that's what i get out of maybe but maybe somebody told us. what holds us institutions we're going. to put themselves on the lawn to get accepted or rejected. so when you want to be president i'm sure. more so more want to be rich. but you'd like to be prosperous what before three of them or can't be

good that. i'm interested in the waters in the gulf. there should be. some seemed wrong what old old just told. me to get to shape out these days it comes to educate and in. equals betrayal. when so many find themselves worlds apart. just to look for common ground the. colin is still exist. rico's treated as one. hundred three called. the islanders controlled by the

u.s. government and some crave independence. either . still many do wish to join the u.s. hundreds leave every day. with the country at a crossroads anger on the island is on the rise. to .

a rocky government forces with the help of the u.s. recaptured most from the islamic state but at what price for civilian. libyan national army has defeated extremists in benghazi libya in general six years after the murder of libyan leader moammar gadhafi. and the white house hence it will make good on president trump's campaign promise to ramp up its use of the pantano bay detention facility in cuba that story and much more coming up right now. it's tuesday july eleventh.