oh my skies are and this is going to be our first little summer solutions here the guys report it's all about the solutions as they say many people started twenty zero one seven twenty seventeen with what they thought was their solution to the problem of america not being so great again so that is kind of the whole theme of our summer solution series is how to make america great again it is kind of because as the us empire as well i mean it is kind of neal liberalism in globalism under this u.s. superpower so it will extend out to other places in on its own to make america great again it means we've got to get rid of the old in with the new there's the millennial generation they're ready to take on political responsibility and we've

seen seismic political of people all over the world in the united kingdom in america in france it's happening everywhere so this is the greatest moment for this generation this century to kick in like i said i think people voted for trump because they felt that america needed to be great again and i think that's why that slogan caught on i think that was a solution they thought they could vote for. hillary had stronger together that was her motto didn't make any sense they didn't vote for that solution but because they did not vote for her solution on offer stronger together. the democratic party is having a meltdown you have to say they having a moat an emotional psychological breakdown we've seen it on the media. twenty seventeen which is quite remarkable to me it looks a lot like fox news two thousand and nine obama was elected president they allowed this notion that he was somehow illegitimate kenyan born something very

suspicious about him now we have m.s.m. b.c. led by rachel maddow and a whole media profitable industry emerging around pushing this conspiracy that trump is also illegitimate he's not american he's somehow kremlin a russian installed just like obama is not american there's nothing american about him and we've seen the same sort of results we saw in a few weeks ago we had that shooting on capitol hill you know we have the same sort of response as a very it's a flip response to what happened under obama and fox now we have a higher rating mess and b c pushing the same sort of feeble minded people to go out and do stuff it's the flipping in the political sphere yes yes yes it's a great mess out of which will rise something brand new in this century you know typically new centuries take shape ten or fifteen years into the new century member

or one of those and one thousand and fourteen thereabouts and going back a century or two you know it takes a while for the centuries to find themselves and i think in the twenty first century now the millennium goals are coming of age they're ready to exercise their political power they've got new tools and got social media they've got crypto coins they've got cohesion amongst themselves they know who the enemy is they're organizing and trump is maybe the guy or maybe not but we'll note a few years the next election comes up like the solution to this issue is that we saw it with republicans and the republican media fox back in two thousand and nine we're seeing it now with the democratic media and the democratic party in twenty seventeen is that they there. elling to look at themselves that there is. a refusal to adopt an age of reason there's no enlightenment there want to go into a dark ages it's always irrational it's always like on the verge of

a salem witch trial or mccarthy a sort of hysteria this is something that america does frequently we have bouts of hysteria but there there seems to be we're at a critical juncture americans are a country that sits on a reservoir of toxic shame brought about by the genocide of the native population and then the insula lavan of one hundred million africans and now we've got that toxic shame informing americans on a day to day basis whether they admit it or not you've got racism is still rampant you've got treatment of the poor as being scapegoated for the crimes of the rich and it's a very segmented fragmented polarized divisive political economy and this millennium generation is trying to break free from it as every generation has member the sixty's you had the flower power children of that era attempted to orchestrate a new political socio economic reality for themselves and jerry rubin one of the

year peace became an investment banker on wall street abbie hoffman when it died ing you know the sixty jim morrison died in a bath in paris you know the whole sixty's and into the into the gutter you know and then we had the reagan the top gun era their emergency of hollywood propaganda times square turned into the back watt of universal studios essentially and this led to the go go ninety's and then the new millennium which everyone assumed would bring about a global consciousness awareness and rising but they gave us instead the climax of neo liberalism the destruction of the united kingdom the arab spring. a lot of lives matter occupy wall street and now those youthful voices are cola saying into more adults in coates you discover your sites your sanity coming on to

him is a good word it works i read the new york times occasionally i want to new york university i got a high on my s.a.t.'s scores a number of all high on u.s.c. t. i go i wrote a book i put on p.c.p. in there and then i like james brown now yeah you mention this millennial generation and you also mention times square and there of course times square when you when the flower power children the baby boomers are coming to power you remember back in the seventy's it was a pretty taxi driver the film like space it was you know teenage prostitutes it was drug the it was crazy then it turned into a universal backlot hollywood ask sort of thing now is pedestrian eyes and there is a new sort of you know localization that the millennial generation could be bringing to the solution of globalization hyper globalization and i would say that is a great idea because you have all these tribes and in the past when you have tribes

and localization what happens is there's conflict because the tribes they become distinct culturally their languages are different and their customs are different and they acquire skills quasi religious manifestations and then they come into contact with and they are contentious and they believe that their way is better than another way because the language across tribes is not has not been perfected up and told these current era of cryptocurrency so you know where you have the communication and money is communication that's what money is is seamless and frictionless amongst it could be a million tribes they're going to be ten thousand cryptocurrency as representing ten thousand or one hundred thousand tribes of humans living all over the world and they're able to go and pass through the crypto sphere frictionless layer. in your thoughts now you're doing it wrong or. that or been in riyadh with trump he was birthing an initial corn offering and his brain and it all became

sand coin and then they try to build the tallest building in the world out of sand coin and that's all coming it's all happening and that was my third point of twenty seventeen summer solutions was we have the meltdown of the democratic party and we have the melt up of the cryptocurrency market so definitely twenty seven thousand seems to be it's all coming into its own we first talked about it here on kai's report twenty eleven many years ago it was in its infancy is now rising as a solution across many sort of different sectors of the economy and society yes all gridlock can be abolished all friction can be eliminated all contentiousness can be tokenized and done away with in this new reality and all of the promises of hyatt can terms of free market competition in the currency market will be realized and the greatest thing is that you don't need

a universal basic income when you have an economy around the world that rewards imagination and monetizes free thought free thought free movement of capital and all the intermediary forces go out of business a lot of bankers lose their job a lot of politicians lose their job the nation state collapses as we know it and people are as free as their money because right now money is a lot freer than people money can move around the world if you if you have the right way out some capital can you humans labor are restricted. and that brings into the notion that central banks of course so it's interesting that the rise of crypto currencies is going so fast as the central banks try to unwind their quantitative. easing and their massive asset sheets their balance sheets of all these toxic assets are still there they haven't gone away but they're starting to emerge back into the scene like what do these look like after eight

years of hibernation on the balance sheet of the central banks well we're about to find out but luckily we have a solution in place to this if this monster of the central bank balance sheets starts to emerge yes we do and the status quo will tell you that special drawing rights the currency of the international monetary fund will be able to absorb hundreds of trillions of dollars worth of toxic derivatives and they'll roll up to a new global currency the special drawing rights i don't think that's going to work because cryptocurrency is are going to do worth the special drawing rights the special drawing rights market capitalization i haven't checked recently but i believe it's under two hundred billion dollars yeah special drawing rights are even in existence whereas the crypto currency markets blew past one hundred billion and could very easily get to see the special drawing right in market capitalization very soon and before you go to chris whalen he's on the first episode of summer

solutions talking about how to make america great again with the jobs market i do want to say crucial to the way the reason why america is so not great is their health care system and i'm hoping that twenty seventeen is the when we see the solution h.c.a. the care that is not a solution to the bottle of obamacare we live in north carolina the second highest rates of obamacare in terms of how much the premiums cost they've just blue cross blue shield is the only provider there they've asked for a twenty three percent increase for twenty eighteen so ridiculous. unacceptable these are unacceptable sort of premium rises every single year for the last twenty thirty years americans have to say boss the they have to say stuff that the rest of the world has the solution it's out there you just have to look outside the us turn off em as i b c turn off fox news turn on r.g. turn on foreign news look at what's going on there and get your passport and travel lucian to the health care situation here get some perspective. ending is actually

an idea first illusion so what do you think about obamacare in the last forty five seconds here max what do you think about my what i've just posed to you about obamacare i think that obamacare is oh ok and it does nothing to provide care and it doesn't burnish the legacy of obama you know it's basically a nothing burger wrapped in an enigma wrapped in high cost wrapped in something that people should not be paying because a tax and you can't have a corporations invent the tax in america it's done it's unconstitutional so they're in a constitutional violation by imposing obamacare as a unconstitutional tax created by a corporation and clearly that needs to be addressed maybe there's initial offering some sort of crypto maybe we can put it on the theory and we're a big block chain and solve the problem health care in america because whatever it is there it's like as terrifying as the balance sheet of janet yellen fed.

tough going that's one solution. stay tuned for the whole summer solution a series cars report oh yeah well look i mean i don't know what. areas that i am happy that. i can see that. i. know he said eight. on the.

by then coffee session on the nod that a. by then is a shift the long. haul cannot it hadn't. been done more. so it. than you know so it was revealed to the multiple injuries among current america so don't cook yourself you look but shows real your mercy on the phone to the book on if you can book a complete professional services a year in the book be immoral some of. my. own admitted nothing of. a flood make. something that was. on long enough something not set it. aside and then to hospitals look ma

that's what economically i met in a movie full of efforts. made this not even gold there are plenty of oil the goals of the nuclear know low jeans new energy still says so how can you invests into the current. is is a very important tool in seeing for the governments who produce those should do. welcome welcome welcome to summer solutions made nice guys there and stacy herbert today we're going to talk more summer solutions with the make america great again

for a man author our christiane tress welcome thank you max ok so we're talking about an era in america that people longly longingly really remember the era of ford ford motor the assembly line detroit the fifty's the sixty's the seventy's when the wages and peaked in america actually tackling are we ever going to come get back to those days i think it's important to remember that when henry ford started his company in one thousand no three that first decades there was a huge amount of demand it was also a big time a change i mean technical logical change was enormous but at the same time you had overcapacity and a lot of workers living in american cities what they worry about inflation that was a big problem they had prices going up dramatically so you move the clock forward to the seventy's like you said that was kind of the spring time in the modern sense in america but that's also when the private sector started coming back after world war two because really from the thirty's until the seventy's this was a government economy you had big banks federal government big corporations that's

it there was no little activity so the surge you saw in economic growth largely came back because a private sector came back and you had a lot of non-banks out there planned real estate companies builders all that. amount of activity so to get that kind of dynamism back again we have to have a couple things first off we got to go make more babies whose population growth in those days was well over one percent today it's point five but a lot of population growth in the u.s. the other thing is you've had so much change and so much deflation in terms of wages everything else because of technology that's the biggest enemy of workers is technological. change yeah i'm thinking about the labor force i think ten percent is in retail and retail getting crushed by the likes of online shop services i'm is not a ten percent i think of a workforce isn't trucking. some high number like this and trucking are now being replaced by thomas vehicles robots you know self driving being maybe will say well

it seems like that's a common you know anything they want to come and so that automation is certainly now cutting into jobs such jobs are really becoming a scarce thing that our robots are coming on line and it's a jobs picture is really you see that deteriorating further i think it's a question of can we train our people who do something else can we make them more productive and educate them is the biggest problem today is you know look at the newspaper there a lot of jobs open but they require skills right so sima solutions of course so let's talk about possible solutions i mean what would be i have a couple of ideas one come to mind you know you're a finance guy wall street guy you've written a book for men you understand the history what are some of the solutions possibly we could be talking about well i think try and make regulation of different industries a little more sensible not that you want to deregulate everything no but you don't

want to spend your time punishing people for no reason i mean you've seen in the housing industry since the crisis when a building many homes well why we don't want banks lend and we don't what. people went to lower income concern right regulation you know you talk about government regulation and you know the go to response for most folks about trying to stimulate the economy is that we got to have a less regulation the government in the way if you make it impossible for small businesses to start and grow then you're not going to growth because that's really growth comes from a lot of the growth you and i see we've talked about before is you know things in the venture community make no sense so you have huge amounts of capital would go into these companies that may end up feeling ok. government regulations the regulations it seems like it's like a war that goes there are let's put our other hand on here financier's and financial architecture and financial engineering i have an idea you tell you anything about it to solve some of these problems and that is an idea where all

stocks are securities of financial products that are underwritten by wall street one two or three percent of is allocated to social security so that every american has a stake in apple and amazon in berkshire hathaway and all the stocks in the seventeen to twenty trillion dollars growth in these set and the stock market plus the bond market plus the four x. market now the executives wouldn't care they would notice it earnings would be impacted by a few percent but not that their earnings are a number that are and that are misawa anyway i mean right it's inconsistent it is no one way to do earnings across all the different sectors so you end up with an american social security pool all capital so if the economy goes through if it jeff bezos comes through wipes out an entire class of worker that worker has a piece of amazon and then they would get their kids get eighteen years of age or whatever there's money for college to be educated there's money for health care so

it's kind of a twist on the tobin tax a little bit where you would tax all financial transactions a little bit this is a live a more equity oriented or stockbroker friendly if you will what do you think of this idea of turning social security into a real investment scheme i think is great or how you do it will number ways but you could approach it right now there's no investment at all now it's just cash treasury spencer cash and one day be so screwed administration calls and says hey we need to cash back in to give it to a so called good ponzi scheme and that you have people dying and people being born and it feeds the in the pool of capital and made sense of the depression when you have lots of young workers but not so much today it's like a sovereign wealth fund. simon well in these other countries norway they've got hundreds of billions of dollars and when they invest in real things ok they invest in stuff we social security does america have a sovereign wealth fund no no we should write why not why doesn't america have a sovereign wealth fund criswell and well because members of congress going back to

the thirty's would rather have the government do it you know if the your scheme to provide social security is a basic safety net was essentially also a way of empowering government and entrenching them coming up with a private scheme would go the other way and i would support that very much well it seems that this is sorely lacking i mean wall street would like it because they've got another buyer well of course but the point is it's very large you know if you had even a small portion was undermined families in america yes ok you would buy a lot of the stock market i mean but those trillions of dollars and but again it wouldn't be where they may look at the ira account as a fabulous success over the years the individual retirement account of the four a one k. program so you're writing programs that people elect to get involved with and they do very very well this is an unelected kind of like using behavioral economics you you're born into it you can opt out but you're born into it right where you simply sit there and accrue shares and certificates of these entities throughout your

lifetime and if you lose your job because of innovation because of a jeff bezos you're still participating in america you're still a part of america it's like universal insurance essentially you would say to them look we're going to save for you you have to save x. amount and i don't think that's a bad policy and i like it because it emphasizes the private sector and things that actually grow as opposed to having the government on the hook for it with no investment at all looking at the numbers here price waterhouse cooper says robots to take thirty eight percent of jobs by twenty thirty thirty percent in the u.k. thirty five percent in germany twenty one percent in japan largely in transport and storage based on current trends things are going to get worse you know. so this is not going to go away i mean you may it may be timing might be an issue but this is the software that runs all this is cheap to protest and it gets more sophisticated and algorithms rule the world than rules wall street the legal profession is

getting wiped out with we're on our way to set about that well i mean that's a whole whole traunch a whole layer of income earners in the economy every town has a bunch of lawyers they make a lot of money and make some money and they support all the local businesses that get wiped out or i don't know that robots are really necessarily going to replace all functions in the economy though max because there's a big difference between artificial intelligence and simulated cognition and this goes back to recurse wiles early views on this i don't really think we have artificial intelligence right now machines can remember you know deep blue and watson and all the rest of it they can remember everything but can they actually cross relate disparate pieces of information almost gatekeepers in like lawyers for example if you need to get it marriage divorce estate all these types of things if you can go to a site and just click boxes buying a house buying our chain of the chain of ownership all this type of stuff block same technology but you know why that won't happen because bubba's brother and

sister worked at the courthouse and he's got to give them jobs so the one thing they don't want to do is automate obvious stuff like that that you and i would look at go but i don't think there's people are going to be able to stop this because the tide of software is encroaching and there's no pushing it back and that's that's to consultants for you when you look at the real world where people deliberately put inefficiency into the mix so they can make a living i think there's an interesting battle shaping up here between the forces of efficiency on the one hand that the consultants keep writing about in their reports and in the inefficient world where they actually benefit from a lack of so we're all becoming french yes none of the press spend all their day for. on how to sabotage their absolutely if the kidnap them if necessary yes to make sure that nothing changes yes exactly ok change is the enemy for enough now we have a just a minute everyone asserted for pays his workers enough to buy the cars now is

his invention who invented this idea to increase the pay of the ordinary american worker there's a bit of mythology there yeah false mythology the guy who actually wanted to raise wages was henry ford's business partner james cousins who had you know how the very modest upbringing and in the first year all the shareholders of ford got all their money back and it was a hockey stick company made tremendous amounts of money so by the toy you know we get past one hundred ten and there's a lot of difficulty in the economy cousins was the one who advanced the idea of raising wages henry ford agree that another board member were in the room when this happened but the point was look at detroit where you had a lot of growth you had a lot of core companies but there were still a lot of people struggling and cousins was haunted by his wealth you saw that when he became the sun i originally people out to buy their wealth and on this day and age like we hear about rockefeller's the carnies the melons that i hated

institutions libraries or our opera houses and things in ok bill gates is a bill gates foundation presumably he's going around doing some medical miracles and whatnot yes good example is this still a part of the ethos of america as the ruling elite i think for some it is i mean look at the ford family and what they've done the detroit you know for detroit they've been very anti-gun as i'd like to try to fire know but they've been extremely generous in terms of supporting the community over the years and other philanthropic causes i think it's important you know when you do well you have to get back to it to try to turn around starring in other words or come out like shine nola i think is i want to company and others i mean there are some but to. to swear it is because gratian from europe the kingdom of saint lawrence seaway that's that's why it's there that means yeah that's why they built cars there i mean today if they were coming from iran no more american hockey players. well what's going on there you've got to put your uniform back on i mean i represent canada.

fair enough thanks for being on summer solutions thank you max going to do it for this special summer solutions episode of the kaiser report with me max kaiser stacy i would like to thank our guests chris whalen he's the author of the fabulously interesting and must read for men. defense of the. several times what's going on in. refugee. u.s. intelligence agencies indiscriminately listening in on citizens of the government. from various political. experts and journalists. just how

independent. when it comes to decision making. whether it acts on its own national interests ok resound someone else will. credit is one of the basic instruments to drive an economy but it can also lead to tragedy i did i took a line the whole gist i can be got and that that the debt style game and in the spiral not. many lives have been broken by excessive debt the banks got

you into trouble and all the big bankers got big. money by the banks but just didn't think of the ordinary men and the morning through the back under don't buy creditors people see no future bad face for how you know you become ill you do job your relationship breaks down you become a casualty is debt a life long trouble or is there a way out of those actually trying to bid or no would be right to ditch a bill for. a few more.

iraqi officials investigate reports of islamic state fighters being executed dr human rights watch called for a probe into a serious and disturbing videos emerging online. a recent poll reveals americans now see north korea as the biggest threat to u.s. . we look at how much blame can be attributed to the media. the german interior minister proposes tagging potential why it has following the violence seen at the g twenty protest encumbered last week. and a ban on pork on kindergarten menus is stirring controversy in austria.