the u.s. senate overwhelmingly approves a new round of sanctions against russia which president putin condemns as a violation of global trade. the u.s. led coalition in syria konsole support for a rebel group refuses to focus on the fight against islamic state. and dozens injured during clashes in jerusalem muslim worshipers continue their protest over access to a. kevin i will be bringing your next news for the to live from here. until the report.

welcome to the kaiser report i'm max kaiser this is a continuation of our summer solutions series and in a moment we'll be talking with jay piece the telly of the news vandal dot com but first stacy you know tromp one twenty sixty election and the slogan was make america great again we've come out of adapted this to make america a nomics again kind of a play on this he won in places like the rust belt of michigan and pennsylvania wisconsin. one can assume these voters were hoping for jobs yes on the campaign trail he promised jobs and points enough to the reason they have no jobs he's calling it maggie nomics he's actually come out one of his economic advisers and i'm calling maggie nomics and a.g. a make america great again we've kind of picked it up for this whole theme this year is that twenty seventeen summer solutions and make bitcoin great again and

make this great again make that it great again and so the real issue how trump won with that massive not only did he have a better message make america great again and hillary of we keep on forgetting what it is that something like on with her or she's with me or something like that but she had a message that did not resonate and he won wisconsin michigan pennsylvania those rust belt states and it was huge shock because people just want to jobs so we're going to look at the solutions to this with our gas j. piece are telling we're going to look at the various headlines across the past twenty thirty years the trade deals that were blames like nafta and did they really lose all their jobs because of those trade deals like nafta or was it china and. and then going forward or even britain is bringing jobs back even a remote possibility in this day of artificial intelligence of of robots. automation in a lot of people we've last year on the summer solutions we cover the concept of

a basic income a universal basic income and i see this year the likes of mark zuckerberg all the tech silicon tech guys are saying yes we need a basic income so we're going to go over some of these sort of possible solutions to jobs and it's possible the universal basic income thing was definitely being picked up by the tech billionaires possibly to keep them from being alleged or to keep the whole system in place because of course suits them it also addresses the huge problem that does need a solution is we have a consumer economy seventy over seventy percent of our global g.d.p. is consumption so if all these captains of industry deliver massive efficiency for their shareholders by hiring you know robots and automation. well did the robots have hunger and do they need food or they need to buy it off as a beauty product side who is going to buy the products that these robots are making so efficiently so i think it's a good thing to talk to

a piece of tele about at the. click so that in the woods that anyone with a thing for rail or something like that philosophical thought day hey day pace the telly welcome back good to be with you max i love it on the trade deals what role if any did nafta play in the decimation of u.s. jobs there is one a media role and we know that nafta destabilized the small farmers of mexico they were dislodged from mexico they flooded the u.s. market and they started to work in u.s. factory farms created a lot of cheap food and cheap food was necessary because the average american worker hasn't seen a raise for something like thirty years and it's all part of this matrix of productivity as stacey pointed out of productivity profiteering of trying to squeeze a little bit more out of a consumer market a consumer driven economy when the people the consumers don't have access to the

kind of wages they had at the end of world war two when the united states took off so you know i think nafta and w t o and china and international labor markets play a role i don't know that they're the main driver in some ways i actually think the main driver has been technology automation i take for example coal jobs here you talked about maggie nomics and donald trump and i think maggie nomics has a great idea if you can build a time machine for three hundred twenty million people because it's an idea it's an economic idea that i think has has disappeared and what we've seen over the last particularly twenty years is a transition phase from an economy where you had. basically good wages for skilled and low. skilled jobs that allowed people to sustain a family of four and consume and now that those jobs are gone it's very difficult to make up the difference and one of the ways make up the difference is massive

amounts of debt maybe another way to make up the difference is universal basic income. and one of the ways that you create a profit margin in that environment is you move from one labor market to another and that's really what corporations have done over the course of the last twenty five thirty years is to squeeze more profitability out of an economy that i think is actually been in many ways stagnant it wasn't for things like intervention by the fed the wasn't for massive amounts of consumer credit flooding the zone i think that the stagflation of the late seventy's would have been the norm it's really only government intervention and things like trade deals that have mitigated this long term ossification of consumer capitalism they consumer is what seventy percent of the economy the consumer is making enough money to participate in the economy it

would seem like these two lines are going to enter sac that some kind of economic armageddon but then you look up and around and you see that they have a laws a new app the canadian government where if you are behaving well you get points and so this is part of the casino model that i've mentioned over the last couple of years there is when you think about it as the families being destroyed institutions are being destroyed but the soul of the human being is being sucked into a gaming platform via their smartphone and they are being devolving into our back in the seventies we had the fabulous punk group of davao and now we are having in real time thanks to smartphones and these point gaming systems being odd offered by governments they know they don't want workers and consumers they just want. agents in their massive multiplayer game a bit of a crazy question maybe even j.p. or thought all they get i guess i also was a huge fan of devo still am we're all divo max we're all divo. this is very

much like to me opening up the credit markets which happened during the reagan ministration and really took off under clinton i think one of the untold stories of the clip ministration is that reaganomics basically went went off the rails in one thousand nine hundred seven with the stock market crash we had a long recession in the united states and clinton basically softened and revived reaganomics and completed the reaganomics revolution in many ways and one of the ways that he did it was by kind of working hand in glove with consumer debt providers to flood the zone was dead and create a rationale to sustain a mark a market idea that was already in decline and i think this gaming system this this gulag casino model that you're talking about in canada i really think it's the same thing with universal basic income it's a band-aid it's a way of trying to ameliorate a problem as opposed to facing the fact that we may actually be in the middle of

a wholesale transformation of the way. developed societies organize themselves because you know one of the reasons why investors love getting into these emerging markets is because they haven't been saturated with consumer products yet so there's a latent need that can be exploited and and profit can be made i think in if you look at markets like japan which is kind of the classic right of secular stagnation of a market that doesn't have the kind of growth that people on wall street want they want three four five percent growth i think really the thing that we have to cope with here in the twenty first century is perhaps the idea that unlimited growth is not sustainable and it's actually not a workable model that the growth. what we saw in the post-war period after world war two was something that happened in that particular situation when the united

states was able to expand its empire take take the reins from from the britain from the brits expand a hydrocarbon economy thanks to massive amounts of basically keynesian influence into the global hydrocarbon market through the defense budget because basically defense budget was what it was a subsidy for oil and gas because why why is why is centcom in the middle east at central command the pentagon divides the world into command structures north com is north america why isn't america central command why is the middle east until command because the middle east is central to all the pentagon's planning and why is that because it's all about delivering hydrocarbons in higher carbons did what they they fueled the american empire and and that massive post-war growth and that was done through what through the allocation of tax dollars into the offense budget so you know all of this fed a consumer market that i believe has become saturated as mary fact the head of ikea i think it was last summer remarked that we may have reached peak stuff and i do

think that in the in the developed world we have kind of reached peak stuff and what you see is people looking for other ways of extracting some kind of meaning out of life other than going to a shopping mall and spending a day shopping and going to the food court has sipping an orange julius i nothing against arduous i love them has actually my first job i worked out and i sixteen and so you know i want to bring it back to this notion of competition because you know first we have. you know the american empire developed under a gold standard so we didn't want to just give away our wealth we actually had to it wasn't something that we wanted to do so you had to compete with the other manufacturers around the world you had to maintain your infrastructure you had to maintain your productive capacity and your you know your your workers you wanted to

invest in them and invest in their education and invest in having the best. national workforce because you were competing because of the gold standard with the rest of the world then we went off the gold standard once in seventy one then. communism collapsed the soviet union that had kept us honest from one thousand seventy one until one nine hundred ninety area so we had to compete with them with their ideology of a different sort of economic setup and system competing for workers competing for ideas competing for the an ideology how you structure their qana me and now in a way like the fact that all the the soviet sort of communist system failed us the gold standard failed for the u.s. we went bankrupt like what it feels like there's nothing keeping us honest it's all like the global elite are all the same whether they're in china or new york or london or paris like they're all like in cahoots together and they're not competing

with each other they're just like plundering everybody else's does that seem right to you there's a lot that seems right to me i mean this is the francis fukuyama idea right the end of history in the last man once the wall falls. and neo liberal if you want to call it door advance liberal economics in advanced liberal democracies have defeated the totalitarian regimes you know there's nothing to stand in its way and history doesn't have to be involved in a dialectical process there is the you have to cut off there and we must go to break we're going to pick it up on francis fukuyama and this and his insight about anyway we're going to break don't go away stay right there.

is that would that would mean america can all get a little bit below what it is. by selling more than you but i you. know bolt on to what they are but i guess are kind of outside of this yes or no but. he refused. to. wear the blue he won't get a good one for him and it's. never really know for sure but this is. if we take for instance the size large enough to destroy

a city say forty meters or so of the million or so asteroids out there we have discovered perhaps a percent or so of that ten thousand of them. so in other words i means that ninety nine percent of them are undiscovered so you should expect that the great majority of asteroids are very close to the earth to come as a surprise. so the guys report i might as or what they say i haven't got time i continue with the j. pace the telly of news vandal j.p. welcome back good to be back with you what it was before we go on what is news vandal dot com usually handle it's kind of my personal web site i'm hoping to expand it into a full service news site and what i do five days a week is i put out a thing called the news vandal rundown i aggregate i start with about four or five

hundred stories i collect in the morning and i boil that down to. the thirty or forty stories that i think tell you what's going on in the news cycle and i stack them so that the headlines actually tell a med a story is what i call it so if you read all the headlines in order you can basically get a sense of what's going on in the news cycle way out having to actually read any of the articles but hopefully you'll find some articles in there that you like and you will follow as well how many of you it sounds fantastic of course it is fantastic that's why i come on our show all right so let's continue our discussion there imagine francis fukuyama he put out that statement the end of history when that. name yeah. that's obvious collapse and lead but apparently that was premature right yeah and i think stacey is correct that the presence of the soviet union in a way kept the united states and the free world as you know it we love to call it hold the leader of the free world the free world was kept honest by the presence of

the soviet union and communism or communism and socialism or marxism leninism or whatever however you want to categorize it its presence was a challenge and it kept. western democracies and neo liberal economics on its toes it actually had to offer a better better product in comparison after the fall of the soviet union i think it is true to. a true statement to say that it was basically a wild west there's nothing there there's no check there's no balance but this is also interestingly the time when financialization takes off and when the making of products at labor we're going to have you know the widget company we're going to put it out on the stock market people are going to eventually invest in the widget company and we're going to make great widgets and the people who make the wages are going to make a good wage that they could go out and buy widgets from other widget companies you know after the crash of one nine hundred eighty seven you could see that the

financialization that began in the reagan ministration that led to that crash remember junk bonds really took over the economy where the buying and selling of debt the commodification of debt the buying and selling of money the buying and selling of stocks and gaming gaming stocks so that you can make them rise and fall and making all of your money off of. marginal trades in the stock market you know in the making of products came to an end and i'm not sure if that's something that completely went hand in glove with the fall of the soviet union but it is interesting that they were timed with one another and i don't think it's completely coincidental it's certainly is part of an overall rot in the entire consumer capitalist system it just doesn't it's not says i just think there's a point at which it's no longer sustainable to keep selling people the next refrigerator or the next t.v. or the next i pod and then the next i phone there's only so far that i think you

can go with that because you know it also what that has done is created a system whereby as stacey pointed out you have an elite who are looking at the people of the financier as the financial elites i think that's really the best way to do to refer to them the financial aid see a system in which they so squeeze the market because labor is the one thing in the different means of production that you can really control as you remember max. when you had all the corporate raiders during the reagan years what was the first thing they did when they when they raided a company they saw all of the past accounts and the assets and they fired everybody and all the employees that's it and so the people who would have bought the widgets no longer had the ability to buy the widgets and by selling off the pension stuff they couldn't buy the widgets when they were retired either so there's like a game that has been established ever since then whereby markets rise they make

money on the upside they crash they make money on the down side they get the taxpayers come in and bail them out start over again started with the savings and loan and then went to the for a one way and for a one k. dot com rising crash and then we got the subprime housing market rising crash and it seems like we're in the middle of something similar to a rise in crash i think a lot of it has to do with quantitative easing and the and stock buybacks that have artificially inflated the market so when is this crash going to come we've got the subprime auto loans we've got we've got a lot of we've got a lot like a huge portion of americans like like forty percent of americans who can't pay like a five hundred dollars auto repair bill on a given month so you know we find ways of ameliorating the problem without actually confronting it or solving it and i think the real problem is that with breaux bots looming and automation looming there's a new study out of ball state university one half of all low skilled jobs are

likely to be automated in the next couple decades and one in four american jobs are likely to go to another labor market overseas and the next coming decades it's being called a toxic brew and this is the toxic brew that got right trump elected but it's not a toxic brew that's going to be solved by anything other than confronting the fact that we are shifting the way. society is organized financialization talk about the one nine hundred eighty s. of course the crash of eighty seven. the program trading and the bailout meisters down there at the plant protection team and the government stepped in and started to have control of price discovery so markets were no longer buyers and sellers and prices were no longer reflective of supply and demand prices are being set first by goldman sachs and others and then they fill in the tray and secondarily to get to that price that they have pre-determined as the price they

want so price settle becomes a behavior all carrot to move people in a certain direction and their ability to have influence in the economy and the political economy is there oh people have no influence them no agency in this economy whatsoever they're being led by the nose by prices that are being manipulated through what you describe as a spy nationalization process and we see this continuing now as company after company abandoned their suppose it interests and manufacturing of the car companies make more money lending money to buy cars and they do making cars pharmaceutical companies are you know making money on their p. and l. on the wall street more than they are doing the business so we have this kind of rock technology as out of the box it's a raw technology that's out of control but people love it because it's tied to money and i think tied to money must be great america because they were so many in america so there's no turning back to

a pig well yeah and in not in the ninety's when we got into this for a one k. mania which is instead of having defined. benefit pension plans erase the whole it's go you know it's it's going to the market the markets are growing let's get in there on this tech bubble this tech bubble is going to make us all rich and we're going to have these amazing retirements where we're going to be windsurfing and golfing all day and will be taking by agra to be an amazing amazing time. when were retired baby boomer dream well they basically took people's money and sucked it into the into into the stock market which has been a dream of wall street for a long time to get the average worker's. income into the stock market so they could utilize because prior to the ninety's only a small portion of americans had any kind of actual vested interest in the stock market well people became day traders by the end of the ninety's and so now the

stock market has become the barometer for the health of the economy when the stock market is very similar to what you're talking about and in canada it is it's a casino it's a game it's actually fully a game and not of we're not even organized around making widgets we're organized around buying and selling debt i mean it's so much of what happens to you know with derivatives it's buying and selling debt it's commodification of liabilities which is a p.c. i'm going to jump in here because we only have a few minutes left i want to talk about some of the solutions it seems like a silicon valley who is the last innovation and last jobs available in america in america and we talk about making america great again a mag anomic is it seems their solution as a form of feudalism because we see the likes of google and facebook building properties and developments for their their employees to live as their employees even though these are allegedly the highest salaries in america can't even afford the rents there they're also saying we should have a universal basic income so there's one solution being offered by the titans of

silicon valley is a feudalism a form of feudalism and and basic income on the other hand you see goldman sachs and janet yellen have both said in the past week or two that you know is the opioid epidemic is basically causing the catastrophe in the american economy and goldman sachs seems to suggest that we're going to run out of money to incarcerate all these drug addicts as well so those two are like it seems like opioid addiction which is. like a slow suicide or join one of these futile lawrence become one of their serves and those are your two options there are there are other solutions but size those two bleak ones it's tough it does feel like we're at a fork in the road between sort of a roddenberry star trek future or a dystopian you know blade runner future. you know i look at you talk about this rentier economy that this fuel economy is a great example of that right they came in they found this is this possibility that

people would want to work as their own independent contractors driving other people and they inserted themselves in it and they've profited by being a middleman and i think that art of the future is one in which we become micro entrepreneurs in a sense it's a it's a form of barter economy where we take our own. our own work into our own hands and we own our own work but what we need is open source networks where you don't have an intermediary who is sucking that drive for their own by the because of their own profit motive so coming up with those open source networks i think is going to be very difficult i think this is one of the places where government can step in because to government you need an arbiter because you could say that craigslist is open source but it's also kind of a wild west you need an umpire to make sure that all of the trades are are done fairly and according to some kind of law or regulation but if individuals are

trading amongst themselves and hyper local to the local trades in a hyper local economies i think that's one that's one possibility i think you know one thing that has to be a part of every discussion is that the basics of life are going to have to be met at a societal level this is so security this is health care this is something any any kind of safety net that's necessary to make sure that people who are falling. through the cracks don't fall into this kind of abyss of opioid addiction it just imagine if if nobody had to worry about where their health care was coming from it might actually unleash on entrepreneurial ism at the at a smaller level for small business owners because one of things that restricts them is what is health care costs so if there's some kind of floor where we all come to say a social contract it might actually unleash people to be interesting lee enough in a libertarian kind of way i mike rogers printers and trade with one another. you

know ultimately i think we're going to have to wrap our heads around a decision between being a society based on acquisitiveness where we were are we all we do is acquire stuff or inquisitiveness where we organize ourselves around the acquisition of knowledge all right jay i've got to cut off that thanks so much for being on the kaiser a part they very much max and stacy and i do for this edition of the kaiser report with me mask as they see her like i guess j.p. so. than is vandal dot com if you want to rate us on twitter it's cause report that i can buy. for many particularly his critics a trumpet ministration is nothing less than chaos on steroids for some who know the president this is merely business is usual for him is this a winning strategy for the president america and the world.

they owe flurry used to be a professional hockey player run a stanley cup and the moment the girl was living the dream but his success had a dark side. time i was fourteen to sixteen i was raped the hundred fifty times by a cold blood i was molested in a dark room and so you know every time i closed my eyes i can sleep after many years of silence he speaks. unites with other things so you are going from toronto to ottawa blocking it from now or walking to the victor walk just to create awareness and promote healing around the subject child sexual abuse this type of behavior is absolutely unacceptable because of the sentences that are handed down through the justice system.