or trash us treasury bonds so they don't want any of them here's the first headline recycling chaos in us as china bans foreign waste and they set out to look at the classical virtue signaling sort of you know portland oregon couple and what it means to virtue signaling essentially it's going to get a lot more expensive to signal your virtue like many portland residents such ish are the car are serious recyclers their houses coated with recycled bluish white paint they recycle their rainwater compost their food waste and carefully separate the paper in plastic they toss out recently after loading up their prius and driving to a sorting facility they've got a shop. the fellow said we don't take plastic anymore satish says it should go in the trash so apparently china has said from january

first is the official date no more foreign waste will they accept you know all those container ships plastics and cardboard and all sorts of stuff sent to china to recycle well they don't want any of it anymore here. you know i remember the story about an entrepreneur in china this woman who noticed that all of these big cargo ships were going to china return to china empty because of course america doesn't export anything to china they only import she said well send us your garbage so most your corrugated cardboard for one thing and she recycled it catered it in china and sold it back to the u.s. essentially and she became a billionaire and there was a shoot garbage trade flowing from america to china america's biggest acts. china

was garbage literally garbage huge tankers full of waste and now china is hit the maximum capacity for garbage and toxic sludge and air pollution and people are choking to death on the street in poisoning is killing babies and whatnot so the government is like hey you know maybe we should take less garbage from america so they put the kybosh on the sole garbage export business and now that as you point out these virtual signallers in other words you know we usually types in portlandia which is a great show by the way are on able to exercise their virtue by composting their own banana peels and by growing you know their own organic plants in the backyard and dividing plastic and whatnot in the recycling bin they have to now pay best of bottom line to get the pay actually part of the problem has been that they do not recycle they do not separate plastics so if in fact in our own community you'll see

that the recycling section is just to dump it all plastic paper anything so people have been putting their stuff down almost wool sweaters also stuff in this thing but and compressing it into a bale and then sending that bale via container to china and then china has to separate them all out it's the fact that it's all blended together that's causing the toxic sort of environmental disaster there in china and so they'll go into the details you mention that the u.s. exports all this garbage to china and we're not just talking with the u.s. treasury bonds because they said a lot of that garbage and they send fannie mae and freddie mac. sort of housing mortgage backed securities and some place that but on the other end they send those at the higher and lower and they send all this stuff and the data is that the u.s. exports about one third of its recycling and nearly half goes to china. for decades

china has used recyclables from around the world to supply its manufacturing boom but this summer it declared that this foreign waste includes too many other non-recyclable materials that are dirty even hazardous and a filing with the world trade organization the country list twenty four kinds of solid wastes it would ban to protect china's environmental interests and people's health the complete place from january first but already some chinese place from january first but already some chinese importers have not had their licenses renewed this is leaving us recycling companies scrambling to adapt so they look at a company called waste systems in southern oregon which is you know they've received all of this recycled stuff they package it and compress it into a bale in which they put it into a container and shipped to china but as china is no longer willing to accept it they're piling up while they look for somebody else around the world willing to

accept it to actually do this job in the u.s. it's too expensive to separate it all out and recycle appropriately so they're looking for somebody to send it to in the meantime local authorities are just telling them to send it to the local dump so so these people a lot of people are feeling like they're doing well and i'm i drive a prius and i recycle but in fact they're recycling all that work they're doing to recycle is actually just going into the local landfill you know it all back up and i'll just create a toxic environment you know ultimately corporations to package the stuff in plastics of course this will fall in the category of extra malady you know they don't pay for the environmental cost and they will never be forced to pay for the environmental cost is one of the subsidies that we as human beings give to corporations are willing to compromise our health by having to live in a garbage dump. so that these corporations can continue to make.

accounted for profits essentially and avoid this these problems which is their gated cities in fortresses so they have a fortress existence the whole kind of process we've been covering over the past few years and ties report is the de globalization we've lived through very relatively easy times i think in fifty years time people of back and say wow that period of time between like nineteen after the opec oil embargo from that period up until about now was just like everything all the prices were going down and goods were going down shipping everything around the world just in time delivery everything was all perfect and cheap and now i think the cost i think we've hit the bottom there and it looks like costs are starting to rise because as the system says right now all this recycling is technically garbage but there are now international regulations about how much you have to recycle so recycling will have

to happen and it's going to cost more so therefore your products they are cost more they one of the articles about this china story says that you know amazon for example is going to get rid of hit really hard because they buy almost all of a lot of their packaging is provided by the recycled end product that has been until now created in china this the guy who runs away systems that i talked about scott fowler he talks about what americans have been putting in their recycling bins that are technically not recyclable and has always just been put into these one ton bales that get sent to china he points out a roll of linoleum gas cans a briefcase a surprising number of knitted sweaters plus their frozen food cartons and plastic bags that many people think are recyclable but are not well you know these carbon nanotubes are incredibly strong and apparently. create

a geosynchronous satellite above planet earth on a rope made of carbon nanotubes so you can get into outer space quite quickly like you just take an elevator five minutes up from there that's staging platform you can load up containers and rockets in carry the garbage to the moon which is our most you know close a satellite and the dark side of the moon is also geosynchronous to planets you don't see the dark side of the moon and turn that into an incredible garbage dump and just to get you know him on moscow or one of these other guys to work this all out of richard branson sir richard branson and you create a garbage carry on this new technology and just create the dark side of the moon dump i mean that's obviously the answer to this well a lot of people all sorts of not just a lot of people working on private satellites they should maybe they might invent a chute that just shoots garbage and garments cannon garbage can and i walk around on you know out on you can shoot a projectile into outer space on nucular power rails essentially and you could just

shoot garbage satellites and outer space because it's already cluttered with various broken satellite parts and what nobody would know the difference if they've got like old diapers and stuff floating around in outer space blanketing planet earth well of course stephen hawking is right that one day aliens will come visit us and we should try to avoid them ever coming to visit us but if they keep all our trash keeps them showing up on their planet it might encourage them to come look for us and who the hell is said to us all of these old diapers you know that's our mark of who we are you know the radio signals from on earth that are still being emitted into outer space are the television singles our first broadcast in the one nine hundred forty s. and of course those were all fiddlers speeches that were televised those waves are the first waves to leave planet earth to travel into outer space so aliens if they do intercept rays are you know signals from planet earth from the one nine hundred forty s. their first introduction to. to humanity will be filler and that'll be their first

impression you know you can. make a first impression twice something like that yes so right now by definition they say that material out there is garbage referring to the stack of all these recyclables it has no value there is no demand for it in the marketplace it's garbage and in china itself because they're not accepting any of this stuff there is also a problem a lot of old ladies go around collecting all this sort of garbage and separating and they have no market now finally in this last headline year this is a tweet that came out i think it was bloomberg and speaking of garbage and china no longer willing to accept it and what that might mean for virtual signal because a lot of our us military is. you know the support via the media is because we're such great virtuous people we're going to save those women of afghanistan we're going to save those people of benghazi we're going to save those people and you

know various. oil rich nations around the world we're going to help them right well china's appetite for treasuries it may be about to just as america needs its biggest foreign creditor to help finance a growing budget deficit of course the budget deficit is not helped by the expanding military budget which is totally financed by china and if they are no longer have the appetite for treasuries you know this is the thing that we've been looking at for years of course a lot of our guests are always like whenever they start buying up treasuries it's going to go all horribly wrong so it's amazing that these two things are cocoa you know incidental that they're not taking the garbage of the american money either you know you can send them truckloads worth of dollars in hundred dollar bills and they would say no we don't take that garbage anymore and of course that means that the ability to neutralize the effect of all that money printing disappears so that would come back into the economy in the form of inflation so. we're starting to say

some early warnings of inflation on the margins you know the ability to hide that are disappearing rapidly. ok well we've got to. see rapidly exit to the second half down take a break you know take a break and come back for the second half so you want to see. what politicians do something to. put themselves on the line to get accepted or rejected. so when you want to be president i'm sure. some people want to listen. to going to press to see what the before three in the morning can be good for. i'm interested always in the winds and the how. are you going to.

apply to many clubs over the years so i know the game and so i got. the ball isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the super money kill you know a loan has been spending to get to the twenty million player. it's an experience like no one else want to do because i want to share what i think of what i know about the beautiful guy great so what chance with. the base is going to. how does it feel to be a sheriff the greatest job in the world it's as close to being

a king as any job there is what business model helps to run a prison now we just do or don't like is there no b.t.o. visitation i don't know what comes anymore we don't have to sarge and many more is defective that's what they want to do that at the moment they don't give a damn if you do the charge on that there are actually paying us to put it back into. the louisiana incarceration rate is twice as high as the u.s.n. breach what secret is behind such success. well welcome back to the kaiser report i'm max kaiser time to return to our conversation on marshall are back is a research associate at the levy institute all around nice guy ex hockey player marshall welcome back not a good hockey player you know you got to the junior high school level of sickly

that's why you haven't seen that video on you tube birth of a canadian it's you know you see ice there's a hole in the ice and then a man emerges oh yeah i've seen that you know hockey stick in a park well that's true that's so we are that's how you were born that's how i was born incredible yeah i'm a can see that on you tube all right let's talk about this move on to some other topics of concern your thoughts on the crypto economy will this take down the economic system as we've known it what do you call with crypto economy look. if you look at the history of money anybody can create an iou or conduct a commercial transaction with another person broad both parties are willing to accept payment in the same medium of exchange so in that sense bitcoin or whatever other cryptocurrency you want to it's fine if that's how they want to settle it but if you really want to ensure

a crypto currencies long term viability then the easiest way to do that is by allowing you to extinguish your tax liabilities by using the government was they were able to do that then you know that would confer a huge immediate additional demand on the currency right now because you would grab those because because you would actually be able to extinguish your tax liability so with the government now my guess is that the u.s. government or for that matter any other sovereign government is not going to lose its monopoly if you will the currency and so they won't allow that but that if you really want. and to have a bible alternative currency that would be the best way to do that if the government decided to more that for example you can pay your taxes and be repelled you'd probably get a revival in demand for beaver pelts well the government is clearly not on board with the idea of having citizens create their own currency you know the government likes to be able to control that and so the question is really i don't know if you . well the government is constitutionally mandated to rule that was

a rule that was given to them so it's out of it's if it's if it's a dictatorship or a monopolist role it was conferred on them by the. followers of independence yes and this ability now individuals to create their own sovereignty by creating their own currency my question is you know you're a smart guy in which a leading institute you can i sit around and talk about the big issues all day long i mean you know is this a threat to banks in other words banks there they're nervous they're a bit nervous about this because it threatens their monopoly how do you see that well and i have to look i'm in the camp that says it's probably a bubble i know you with your bit who. have a different view of this i must admit that when i hear jamie diamond. you know go on against it i it does make me much more sympathetic to the whole is a big point i can certainly understand you know we've talked before about the low the massive political dysfunction because you're a rebel and you know you don't want jamie diamond no i don't you're

a rebel you're on the side of the crypto sovern movement i can understand the the objectives behind it i certainly feel that they have a legitimate beef against the system which they feel is stitched up against them and so i think that they. can certainly understand why this thing has developed the political context for which is to develop i'm just trying to say that if you really wanted to be on sound footing that's where you would have to do it and you'd have to have some cooperation with the government to do it that way well i mean in the meantime if you're in a community feels. that they'll drain some much capital way from banks central banks and government that they will have an alternative well you know look i mean. if you can point to me one historical example of this libertarian fantasy that you know is actually existed somewhere then you know that's great but i mean william golding i think wrote about this in lord of the flies so it's such a very to stop and take on pick going marshall out i'm moving on all right the

republicans are pushing through tax reform many who watch m s n b c may not know there are actually any domestic matters on related to the russia's president putin scandal hoax your thoughts on what you see is a tax reform what's going on there well it's pretty regressive meaning that it confers a lot more benefits to the top one percent and the middle class of working class there's a whole lot of goodies in it for corporations as well you know this talk about you know we've got the one of the highest corporate tax rates in the world thirty five percent that's that's bogus with the with all the exemptions that are already written into the code the effective tax rate for most large corporations is it's more like fifteen so i've seen some estimates as low as twelve general electric i think i found a seven thousand page tax yarn and they got a tax rebate yeah that's right and then you've got companies like apple that you know domicile a lot of their facilities in places like jersey tax havens like like jersey in the

channel islands so so mitigate their tax bill so they're there are it's an unnecessary giveaway in a lot of respects there isn't that much done for personal income tax holders and and look my my big. and that's really the grounds on which i think you should object to this bill is that it's highly regressive and also it will probably do very very little for employment growth and for rising creating income growth which should be the goal behind it and in that regard i think that those are the ground. for objecting to it course the democrats are being very foolish because they keep on saying well it's going to add to the deficit and that's absolutely awful but of course the minute you start taking that argument you are effectively ceding the you are effectively embrace in the paradigm of the publicans use because the next stage of that is going to be that infuse time if the deficit do in fact grow as a result of this tax reform and there are the republicans like paul ryan are going to say see we've got to get hold of entitlements because the deficit so is way too

large and we're going to tech social security medicare and then they'll turn to the democrats and say and you see you guys basically express zero concern so much concern about the deficit earlier so let's do something about it so it's a trap and the democrats like nancy pelosi for example are falling right into it oh ok just a quick diversion digression back to m.m.t. modern monetary theory we talked a little bit about it you said you know you guys look don't look at interest rates as a way to manage the economy more on the tax side the fiscal side we're talking to are talking about taxes now so in your view what would be a more of an ideal tax structure that's a political judgment what do you think would be the like sweet spot for how taxes are levied across the economic well that you're asking me to make an a priori judgment i would say that you can't really want to watch the was so what's wrong with the current tax regime is my own personal opinion that i think you'll find that i am in tears have as many different views are or are right as of ketchup

so my own feeling is the current tax code is too complex has become a political plaything for lobbyists do you support a flat tax in general in favor generally in favor of tax simplification i'd probably go for some elements of progress seventy to help moving right along like two or three to two or three basic level and then get rid of all the polls yeah that would be my i'm totally firm why why don't we do that because all the lobbyists who like all the are saying that's right. the corporate because the real welfare queens that we have to worry about ok so well you're the real welfare queens are corporations corporate and they've got a right love their corporate welfare they that's socialism for the rich and capitalism for the rest of us yeah that's right we take the risks they take the gains yeah that's right and they get the bailouts when times get tough so you're right through the primary lever of interest rates at the central bank but i want to go there let's move on and we also have in my goodies oh the tory eighteen midterms

are coming up do you see any economic ideas coming from any of these democrats. well bernie sanders has a few that's largely because he's got a great economist working for him stephanie kilt and so go with the bernie he she still is affiliated with them still buys them so he's probably one and i'm sure there are others out there but yeah the the better deal that they introduced didn't have much that was new to it there were some interesting aspects of talking about concentrations of monopolies and any names i would offer my with like member barack obama came out of nowhere you know donald trump was kind of like the heart of where is this guy's no no unfortunately you know the ones that keep getting named. are unfortunate being you know a lot of them get ensnared in other kinds of scandals but no one that that's a real problem the democrats say they don't have a lot of bench strength i mean their leadership is basically always saying to me

that the democratic party relies on charisma or as the republicans have policies that they just keep hammering consistently they don't they don't change that much where's the democrats you have a clean bill clinton or j.f.k. you know who are very charismatic or barack obama i would say roe wade was very charismatic even if you you know you didn't agree with the politics but no i love what i what i would say the fundamental difference is that the the democrats go out of the their way to insult and ignore their bases aspirations whereas the republicans at least in word pay at least i pay lip service and they also aren't afraid to introduce crazy quote unquote crazy ideas because that what what happened for example under bush and cheney is that they they would you know introduce an idea and people to you can't do that that's against the crazy idea but you repeated long enough and eventually you changed the political landscape where is the democrats are always trying to be reasonable when the call takes to being reasonable they never will introduce new ideas and they they will stick with the

existing paradigms and that's why they keep losing elections and i think that's very insightful and something less than perhaps that these. guys in the democratic party should embrace and they do need new leadership to me as i said you know look . the three leading democrats in the house are all in their late seventy's all the people that are being talked about in twenty twenty presidential candidates. sanders war and. biden they're all in their mid to late seventy's you know you've got a few young names like camilla harris being talked about but again not much is known about her background and and and there isn't enough to there's really not enough new bench strength there's a few interesting people of the state there's a lot of influx of women across the spectrum across america in the wake of these sex scandals so women are getting more political trends a year aware of and you see that having an impact in twenty eighteen and twenty

twenty seems to have had an impact in the last set of elections we had the special elections in the election we had a bridge in your lifetime and also only my view or that of the levy is such a i don't know i mean you know they've got an artificial sperm they've got artificial insemination they don't need us anymore marshall were relics from a previous era they're setting us up for the big extermination everyone's a sex predator or they don't there's going to throw us off a cliff and it's just going to be you know a world run by women that's his view not mine. for the record look what i know they will hire we you know overlord we need to i think we've spent enough time screwing up the world let women have a turn of yeah sure you know it's all intellectual property now you don't need muscles well you know i run one thing at a conference and i heard christine lagarde head of the i.m.f. and she said that you thought the economic invited post two thousand and eight might have been a bit different if we'd had lehman sisters rather than lehman brothers all right marshall have to leave it there thanks for being on the kaiser report thanks for

having me again i think. all right well that's going to do it for this edition of the kaiser report with me max kaiser stay here when i think our guest marshall. our back from the live eels if it is going to reach us on twitter is kaiser for its electron file. about your sudden passing i've only just learned you worry yourself and taken your last wrong turn. you're out caught up to us we all knew it would i tell you i'm sorry i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath. but then my feeling started to change you talked about war like it was a game still some are fond of you those that didn't like to question our arcade and

i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind it's consumed with death this one quite different i speak to you now because there are no other takers. to claim that mainstream media has met its maker. about it under the rhythm of them a bit of fun but not a cut i mean oh no i'm reminded. by him and according to him at the end of the soul but you know me a little more to be just a flood. plain got a feel for. the. web site and i didn't give a dozen hey guys you assume i'm not old enough anything beloved about it enough to hold the idea that something as innocent the whole on a. bad. time and most will go

down if the whole of what submit become a hot item stumble. no commitment or no one would come to much more than the policemen the men somehow motionlessness down somehow the moment the something someone says and they got to be. one of the from the one up there. was. no way out up. on the. tram line up to. the.

team food in favor. against the u.n. security council overwhelmingly banks a resolution calling to reverse donald trump's decision recognizing jerusalem as israel's capital public move is vetoed by the us. rebels fire a missile at the saudi royal palace in riyadh as casualties grow in yemen from saudi and strikes while the u.k. from us is fifty million pounds in aid to the. pound on the first anniversary of the deadly christmas market attack in berlin germany's justice minister has admitted errors in their response to the assault party talks to people who lost their loved ones in the apostles.