general strike there one hundred thirty four one hundred thirty six there's a book about that charles room for walker's american city the describes that you had the whole general strike and that was that became as i said the only trotskyist city in the world so this isn't a depression essentially yes and you had to blow up in the twenty nine crash and you quickly entered into the depression and trotskyists and communists and other forms of governments and economics other than capitalism were in the ascent because it was considered they wall street was a collapse of the capitalist ideal so you had these competing. schools suddenly in america and it gave rise to art an anti-communist we saw mccarthy in the fifty's as really a holdover from that period correct and we saw. you know reagan was also out of that school of fighting the communists you know he built a huge political career out of it from the from there is where. you have the and

then this labor. was was there much of all morgan i's labor in america before then of course in the night late nineteenth century and eugene debs the socialists you had at the center of labor organization was in the midwest because that through the manufacturing was it happened that in minneapolis because it's not very populated the truckers were the big industry there there was a lot of violence you had floyd b. olson who was the governor who said he hoped the capital system goes right to hell and so he was reelected as governor it was all destroyed when the right wing came in led by hubert humphrey on the far right right that's exactly right now is his task to the presidency i guess right to show that he was a good double cross or he was sort of an early obama type speak left and then slam down with a very hard on the right right so this is fascinating piece. american history so so

many apple asus is an under told story i would say people are familiar with chicago and what happened in the thirty's obviously organized crime people are know the history of organized labor and the new york and the longshoremen and of course as long as labor then became corrupt in a big it was infiltrated by the mafia essentially that was largely roosevelt stilling and it was done because of his fight against the teamsters in minneapolis right he wanted it the only alternative to having the socialists organize the libyans was to have the mafia organize a labor unions by saying if you're you're the head of the labor unions you get to say who's hired you get the kickbacks you get everything that fitch wrote about in his study of the labor movement so it's very much like in japan when america back. against the socialist japan had a very strong socialist movement mcarthur came in backed all of the most right wing

japanese militarists japanese and the gangs the gangs to fight against socialists and that's why you have japan in the story state that it's in the day when it comes to industrial on the state and the steel mills. so it's an interesting areas of focus you know the thirty's and seemingly in minneapolis i mean ok there's organized labor before but then it became a threat in a big way because the capital system was collapsing i mean i guess before that it was more of an adjunct to deal for all economy where ok we're going to organize labor labor you know they invented the weekend for example organized labor without their organized labor we'd have no weekend and we had no hollywood we had no entertainment industry have no theme parks you know had no vacations you know they it's a huge part of the economy america was invented in effect by labor and then when the thirty's post crash you know it really became it became more politicized in that sense so did did the orgon. at that point were they always referring back to.

a leninist marxist reference no no not at any point remember minneapolis is very largely scandinavian so you had a lot of scandinavians there. in new york you'd have basically central europeans and jews or going i think. the garment trades and the labor unions but in minneapolis and you had a completely different ethnicity with a different national background and they had a kind of scandinavian sense of fair play my father said that who graduated from the university of minnesota with an m.b.a. he said it was the rover boys stories that gave him a sense of fair play and you know that the rover boy being the american boy stories of the early one nine hundred. that place like that is our second later on the you know the oh at that same idea of everybody being fair and kind of how little kids would play with each arm in iraq while depiction of america stalinist so well you

know was a stalinist yes what yes i didn't know that that he was one of their funders. that's the only learning things here today that are shocking what so anyway to get back to the narrative here. it is thirty so i what it was are individual a person where labor in america suddenly did start to overly reference marxist leninist doctrine. not really except your dad you know when i was even my father when i was a little kid i would my father would take me over to the houses of a lot of leaders including people who were on the central committee of the common turn when lenin was in power and being a little out of maybe eight or nine years old not always look at the library and they always had a marxist capitol in the library and i'd always go and look at you know open it up and nobody had ever read a single they'd never been opened before especially volumes two and three had never

been opened one maybe but not volumes two and three so the fact is they had them on the shelves but they didn't rate it so now you know your career took you through wall street you were a credit analyst for chase manhattan bank just about all of who else was going to be a an economist on wall street except a marxist i'll tell you more law would you say such as you know that it's all about exploitation and if you go to a business school and you think everything's fair and you don't understand that it's exploitation and crooks and you know how the system works the marxist being outsiders we could look at the system and of course we were the forward planners and the futurist because we were looking at how society would change and the business schools would tell people is not going to be any change everything's going to go just the way it is that's what we call equilibrium and we marxists are always looking at this equilibrium so we could of course forecast all of us have credit in terms of how effectively it could be extractive i was saying how much could be

extracted and at what point will the break come and that certainly all volume three of capital that credit. mark pointed out interest bearing debt grows exponentially but the economy only grows on the next curve and tapers off so every economy creates debt faster than the ability to pay and that's where the break so i have so mark says is a quintessential critic of capitalism yes a lot of our studies very call this book capital right so and so as a philosophy it's not really presenting a political construct although many have chosen to use it as such he looked at the laws of motion so it's not a construct is a single building it's the law of motion that's the reason we're out of the flow out of communist countries gone wrong because you know they've people have tried to adopt the systems that were the entity says of capitalism or the difference in capitalism so far we haven't seen much success many succeed what's what's going

wrong there right after when and stalin killed everybody who'd read marx oh ok so that was and i think you know since the nineteenth twenty's russia has known nothing knew nothing about marxism and it was the. you know what especially in other countries other hemispheres in other places marxism in a way. really think so i mean certainly. socialism is a step towards that and there i mean so everybody thinking wrong another was my question is what would if you were starting a country today what or convert america to a different system because obviously the system now is extractive it's compound of the debt ad infinitum and it's causing huge wealth and income gaps and it's not working in many different ways and so if you were to come back an era a marxist scholar effectively you know what would what would be a couple of the points to that would build a sustainable economy that what is stifling the economy today is finance and it's

the growth of debt and it's the inability of debt to pay that is leading to a huge transfer of property which would. let's say the m.g.m. siri modern terry monetary siri yes which is i guess it's a solution in your book yes but i go beyond most of the empty years because i divide the private sector into the fire sector the finance insurance and real estate is opposed to the industrial so we've got a lot of just describe m.m.j. . and that's a lot of the school in kansas city is you find the m.m.t. people like yourself bill black i think is there yet marshall auerbach marshall all marxists and he set the bar. low on it let me into this i was sucking about it stephanie stephanie kelton she's in this all so in thirty seconds kind of break it down for us what it is that banks or the government create money simply electronically it's not a thing money is debt and the way that you create money in the economy is create

that by one party to another if the government spends money into the economy it's been that directly on infrastructure and hiring goods and services hiring labor to produce something on the line then only a christian may not like a central bank to lend it to the government it could pay the treasury the interest centrally the treasury used to be the central bank the federal reserve broke the treasury off to put money creation in the hands of wall syria or that. put put the treasury in control once again write the treasury would issue money but if you leave money creation to the banks and dodginess money and steve kean who you often have said the banks lend money only then when money to spend on goods and services they spend money for corporate takeovers to inflate real estate prices so government money creation is different purpose for from private bank money is going to leave it there dr michael hudson thank you. alan us an idea for this edition of

the kaiser report with me max kaiser stacy i would like to thank our guest dr michael hudson if you want to reach us on twitter it's kaiser report and flex time . i don't. see people. suffering always in the detention center the libya is one that did thirty percent of the responsibilities of coming from one country to seventy one of the seventy percent is coming from an area i think that we have to see that we have to discuss how to improve our capacity to alleviate that this operates on the human being to.

wiki leaks says that the cia wrote code to impersonate russia's kaspersky lab antivirus program. says the united states is attempting to create problems around next year's presidential election in russia in response to moscow's perceived meddling last year. u.s. justice department demands that r.t. america register as a foreign agent before monday the channels bank accounts could be frozen if it doesn't comply. with saudi arabia and kuwait ordered their citizens out of lebanon immediately after the resignation of the saudi backed lebanese prime minister.

thanks for joining us this hour just to past midnight here in moscow. this is r.t. international. claims that the cia has created a computer program that impersonates the software of russian antivirus company kaspersky lamp has the details. we now have a new batch of documents from wiki leaks that give insight into how the cia operates on a daily basis collecting information now one of the revelations in the new batch of documents shows that the cia has a program for imitating kaspersky laboratory a well known russian software company conspiracy laboratory has been at the center of some scandal recently we had u.s. authorities assembly barring any government agency from using their products saying that they present a risk to homeland security a recent report from the wall street journal accused kaspersky laboratory of essentially stealing government information and secrets with its malware software

from the us an essay national security agency we actually had a statement from the u.s. homeland security secretary regarding kaspersky laboratory their risk that the russian government by their action on its own but in collaboration with conspiracy could capitalize on access provided by kaspersky products to compromise federal information and information systems directly implicates u.s. national security.