qualify for the european championships at the very last moment no one believed in us but we won and i'm hoping to bring some of that waving spirit to the r.c.c. . recently i've had a lot of practice so i can guard see that peter schmeichel will be on the best fall since my last we'll call him that started so as we've. thousand old jokes i was only kidding here i called rush on. strike. left left left more left ok stuff that's really good.

but politicians to do something don't. put themselves on the line to get accepted or rejected. so when you want to be president i'm sure. some want. you to go on to be press was like when the full story in the morning can't be good . i'm interested always in the waters and our. first signal. hello i'm alex karras or this is the kaiser report you do the world is a finite place and he marries capacitive generate garbage seems infinite oh my god how those two are going to work how do you square the circle so i said

max well the circle is not being squared in fact there's a finite amount of space even in the financial system where many think you can print an infinite number of dollars well china saying yankee go home to all american toxic waste whether it is actual trash trash garbage trash sort of stuff 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 virtual signaling essentially it's going to get a lot more expensive to signal your virtue like many portland residents such ish and arlene carr are serious recyclers their house is coated with recycled

bluish white paint they recycle their rainwater compost their food waste and carefully separate the paper in plastic they toss out but recently after loading up their prius and driving to a sorting facility they got a shock. the fellow said we don't take plastic anymore satish says it should go in the trash so apparently china has said boss the from january first is the official date no more foreign waste to. 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 some of your corrugated cardboard for one thing and she recycled it re fabricated it in china and sold it back to the u.s. essentially and she became a billionaire and there was a huge garbage trade flowing from america to china america's biggest export to 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 and mercury poisoning is killing babies and whatnot so the government's like hey you know maybe we should take less garbage from america so they put the kybosh on this old garbage export business and now that as you point out these virtual signallers in other words you know weasely

types and 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 that's the bottom line they got the pay well 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 you dump it all plastic paper. or anything so people have been putting their stuff down on moles wool sweaters also just stuff in this thing but and in 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 send a lot of that garbage and they send fannie mae and freddie mac. sort of housing mortgage backed securities and stuff like that but on the other end they send those of 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 ban takes 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 sun. 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 externality 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 on. accounted for profits essentially and avoid this these problems both with their gated cities in fortresses so they have a fortress so since 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 one thousand 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 roadway 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. it 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 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 they 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 extra credibly strong and apparently you can create a geosynchronous satellites 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 at that stage and 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 a richard branson sure richard branson and you create a garbage fairy 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 walk around on you know that you can shoot a projectile into outer space on to nucular power rails or socially and you could just shoot garbage satellites and 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 will come visit us and we should try to avoid them ever coming to visit us but if they keep all our trash heap so 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 a 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 alien if they do intercept rays or you know signals from planet earth from the one nine hundred forty s. their first introduction to humanity will be at all filler and that'll be their first impression and no you can't you can't. make a first impression twice so it goes 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 via 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 find. it's 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 right 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 truckloads of us a dollar's one 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 see some early warnings of inflation on the margins you know the ability to hide that are disappearing rapidly. ok we've got to. see rapidly exit to the second how do we take a break you know take a break and come back for the second half so you.

lose it feel good. 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 one comes anymore we don't have to serve them anymore it's defective this will be on. that loan they don't give a damn if you did so it doesn't matter 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 imax keyser 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 with a 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 noted 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 see is fine if that's how they want to settle it but if you really want to insure 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 we 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 would 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 issue of 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 the leading institute you guys sit around 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 but 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 know rubble 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 sovereign 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 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 a very distant and take i'm going marshall out of it 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 unrelated to the russia's president putin scandal hoax your thoughts on what you see ok 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 to 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 or yarn and they got a tax rebate yeah that's right and then you've got companies like apple that you know domo solve a lot of their facilities in places like jersey tax havens like like jersey in the channel islands so so mitigate their 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 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 grounds. 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're effectively embrace of the paradigm of the rule 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 you see we've got to get hold of entitlements because the deficit so it's 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 so 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 ok just a quick diver's of digressions 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 to 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 or writings 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 city 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 for why why don't we do that because all the lobbyists who like a lot of our spring that's right. the corporate because the real welfare queens that we have to worry about ok so what you're the real welfare queens are corporations corporate and they they write 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 and let's move on we also have in my goodies oh the twenty teen 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 kelton who go with the bernie he she

still is affiliated with them still buys it's 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 heart of this guy so no unfortunately. you know the ones who keep getting named . are unfortunate being in 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 politics but no i love what i what i would say the fundamental difference is that the the democrats go out of 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 was what happened for example under bush and cheney is that they they would you know introduce an idea 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 at 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 virginia look i'm an obsolete my view of that of the levy is such a i don't know i mean you know they've got 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 what 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 i heard christine lagarde head of the i.m.f. and she said that you thought the economic environ 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 i'm just marshall. our back from the levy is to generate us on twitter it's kaiser report until next time .

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u.s. former intelligence chief james clapper claims president trump is being handled as an asset by vladimir putin. first anniversary of the deadly christmas market attack in berlin germany chancellor merkel admits errors in the government's response to the atrocity r.t. talked to the people who lost loved ones. the u.k. parliamentary committee talks fake news and alleged russian meddling in numerous country's elections but fails to even get its own facts straight. the same you're not used to see we would like to offer to the point if you. will seize hold up and be known as well that ends.