Skip to main content

tv   Going Underground  RT  March 10, 2018 4:30am-5:01am EST

4:30 am
the trade or bad trade deals like now after that i mean that's why this is how it was a peter peter you know we had mitch peter the trade. let me go to charter is hang on let's go to go ahead go ahead minister that the the trade deals there are a lot of bad trade deals out there there's t p p out there that should be shut down and this was all part of a globalized globalization effort so that we have some bad trade deals that need to be scrubbed from the books but we've got to also look at as i said there are a lot of moving parts the crux of the issue is and i agree with steve kean where where he said that you know that part of economic theory has gone amiss and it certainly has if you look at the federal reserve's economic modeling it's totally wrong a lot of these are have been totally wrong central bank money printing has hit a fever pitch where they've got ten trillion dollars on their books and they've only produced maybe two trillion ten trillion out of the ten trillion two trillion
4:31 am
in quantifiable so that's what a ratio of five to one or something so we're not getting any organic growth from what they're doing and what they've done is they've destroyed capitalism by printing money quantify the money it is that i think we need to get back if we're going to have if you have been as happy as them we've got it there that's what you're saying is we can't like what you're saying is this the financial ization of the economy where it doesn't make anything any don't need anybody if you don't make anything you don't need workers ok this is what's happened here steve we've all got to the break you want to jump in there don you have got to steve go ahead in brussels you know one of the church trump keeps on talking about making bad try to do in the us tried to america it was it was insisting that the american dollar become the reserve currency for the planet because what that meant was of you getting other countries want to try it with each other they had to buy american dollars above and beyond the demand they had for american goods and that means of course american dollars than it would be if we had what kinds propose which was the bankole and its national currency and by no country administered through. the
4:32 am
i.m.f. if that was done america's exchange right maybe twenty percent lower and it wouldn't need to complain about bad competition in manufacturing so there's a lots and lots of ways in which this is being done by america trying to be the exception of the planet and making a stupid try to deal with things like they think made it look good plus it's an enormous excess of still on the global and off due to china's enormous stimulus program and that is part of the reason why america is complaining about dumping and they've got a point ok and let me go to you know it's a good start talking about china is this really just about china go ahead and. i think it is largely about china this tariff this global tariff really is because they're worried about china still going through other countries coming into the u.s. so they want to close off all doors so yes it is targeted at china but then there are going to be a lot of there's going to be a lot of collateral damage as a result and so. you know the ministration is going about with
4:33 am
very blunt tools. it's clearly not gaining friends or your allies and we're going to talk about that after the break this us i'm going to a short break and after that short break we'll continue our discussion on trade war state with a marquee. the problems that we're baked into the cake of the american experience where there was it's racism no never want to weigh it's hard coded in the american d.n.a. violence ultraviolence it's part of the american d.n.a. these are severe problems in the mirror poll. done not once not. enough lives up not down one of the definitions you know i'm
4:34 am
back in the. south. and. taking the night you can see the. doc you get with them and then you're going to bring. how we think i'm. a movie might not be. going to do them well not be. sam's our. business just dealing with one mean enough just now you know. that. thank you. this was because these events which you can. use.
4:35 am
welcome back to crossfire all things considered i'm peter lavelle to remind you we're discussing trade wars. ok right before we go to the break and gave the operative word retaliation ok you know there's a couple of things here what we already know that the europeans and the canadians are talking together the chinese have made it very clear they're not going to take this sitting down and i think we have to remember folks is that there's been a lot of pressure at least rhetorically from the trumpet ministration on china to quote unquote take care of north korea which is illusory they don't have as much influence as they think but now the koreans are going to be in the target of care of sere and that this is a time when the mid north and south are talking about possibly some kind of
4:36 am
reproach moment which watch it isn't very happy about this is adding insult to injury if the south koreans are going to be sanctioned in this way by the united states to tariffs go ahead mitch. i think that u.s. dollar gemini is a big part of this puzzle and steve mentioned briefly you know the problem with the u.s. dollar being the world's reserve currency for the past hundred years i mean i think eventually there's going to be and it's going to happen soon we're going to have a currency that you can exchange for either gold silver oil or something and it's going to actually be backed by something other than a promise to repay something that can never be repaid. and as you're saying a lot of the countries will start to realize that it's going to be impossible for the u.s. to ever pay back its debt yeah and this money that's been printed that has ended up financing and enabling a grotesque asset bubble in stocks bonds and property and corporate stock buybacks and leveraged buyouts leverage too much debt credit and the leverage will end very
4:37 am
badly with the u.s. dollar taking it on the chin and the other countries realizing we're going to have to come up with a different solution for a global currency you know steve. again i brought up the issue of bluffing but the united states share of glow the global economy in trade year after year gets smaller and smaller i mean it does the united states. it doesn't misunderstand how essential it is to the global economy i mean we have other vectors of growth we actually and it's also here in africa there's a lot of growth now of course there's the whole china issue here i mean can the united states dictate. trading patterns and laws and realities the way it think it can it can because i don't think it can as much in its dwindling with every single year go ahead steve. well a large part of the what lots of the americas lost its share of the local tribe as . americans transnationals to take advantage of low wages particularly in china i
4:38 am
was actually i went to the construction of the very first free trade zone in china or not he won eighty two shans and free trade zone and the specs when i showed that the manager's guy there which is quite brilliant was that they were going to take advantage of a loophole in american tariff laws the american corporations really import goods that exported to third world countries for the manufacturing and not painted tariffs on that work and that would get them the technology and at the same time they saw what happened with free trade zones in the rest of asia where they as soon as the wages rise the companies would move on of they also insist that each company had to have a chinese within five years the chinese partner had fifty percent of the business now that the the cut in costs that they the american capitalists face was so great they were willing to do that and of course what they did there is the big increase their share of the income of the america they reduced the share of the workers benefited china dramatically and now the in the long term it's the fact you have
4:39 am
something vaguely resembling a democracy in america meant the workers who got screwed by the process too wise now starting to fight back and trump unfortunately is their champion you know and you know it if i get the impression because i mean even before he was president before the campaign trump was always big on trade i mean with the you know awful trade deals and all that it is he look at this is a silver bullet because the u.s. economy it is there's so many things that ail it is it's a very complicated thing it's just not about trade so again i go back to the political issues that he's presenting that he's quote unquote doing something but is it could it be enough go ahead and. so i certainly don't think it's enough there is a lot that ails the u.s. economy. you've got a situation where there's just too much red tape many entrepreneurs actually can't get their products off the ground because they're stuck in areas where they are
4:40 am
waiting and waiting for green lights and frankly they'd rather go test out their products in china which has far fewer red tape you have basically an educational system that's been failing most of american children. so you know a lot of people are just not prepared to be workers in this new twenty first century knowledge economy so to speak. there are so many issues that he would need to tackle but he doesn't have the time to his term is only four years and so he's just going to go for whatever low hanging fruit he can just to at least pleases base so that he will have another shot or another term later and i think that's a very big and so i think that's. a that's a really good conceptualization there and it's a low hanging fruit here you know michel for me the you know i was
4:41 am
a trained historian for me what i think is really quite interesting is that if you look at after the second world war the united states made amazing sweetheart deals with trade with its allies in europe we have the with south korea we had japan taiwan you know even that was a geopolitical expedient ok they wanted to keep the western bloc of goodies to keep them in there ok so you know importing stuff into the united states i really i could remember you know in the one nine hundred sixty s. everybody laughed at japanese products you know the little plastic things that you know joke ok by the one nine hundred eighty s. it was a different tune and we could repeat that also with the chinese all right i mean the because the united states did that for geopolitical reasons it actually undermine. it's a con a me in the long run because i don't personally and i'm agreeing with it and i don't see you really a way out of this ok because the people that have the money and the capital they have financial eyes the economy they make a lot of money off of it but there isn't make anything for anybody else go ahead
4:42 am
mitch so so what you're talking about is what i describe in my book plan a ponzi your financial ization has ruined what we have today you discussed after world war two we had actual organic growth so we had organic growth. we had organic growth which drove the commies forward and we had g.d.p. in excess of where it is today global g.d.p. is a new mic at best and the only growth that we're seeing is a derivation of central bank money printing yeah so it's not in reality growth driven by product creation it's growth driven by stock buybacks leveraged buybacks and wall street creating you know crony capitalism and that's going to definitely and badly because interest rates have gone from fifteen percent in one thousand nine hundred eighty three in one thousand nine hundred one down to close to zero so the cost of finance ponzi finance today is relatively too low so it keeps the zombie companies in business no organic growth is created real wages are the same
4:43 am
level or lower for the average worker as they were in the one nine hundred eighty s. yet to wish in costs are up two thousand percent health care costs have spiraled out of control with obamacare so you've got a real problem and that's and the fake news media will do anything to destroy trump along with the deep state and you know and the agents that want to control and have neo liberal media liberalism as the rule you know and acted academia in america has turned into indoctrination so it's a disaster fortunately it's a disaster you know landscape has changed even you know in a positive way and not in public you know steve one of the things is that a lot of pride supporters and in outlets that support him in the media that they like to really pound away the stock market the stock market well correct me if i'm wrong but i mean never since the late eighty's the stock market doesn't have any doesn't reflect the the livelihood and prosperity of the average person in the
4:44 am
united states it certainly tells you about the super rich ok but it doesn't translate into the real economy steve not by a long shot and the fact that your stock market vs something bottomed at six hundred sixty six before the quantitative easing program began of the fed and the. it was supposed to see me like a man through what they called the wealth effect when their own research showed there was no will figure out of shares in terms of its own aggregate demand the only real think they could find was out of rising housing and even that was tenuous of course that could collapse too as it did back in two thousand and i so we have what we have as a people a bunch of people governing who are who are on the should. and i think a lot of subtle but at the rather than the rather than us. and this is a real problem we have a lack of understanding of how capitalism actually functions in the minds of those who are trying to manage capitalism you know and you know you know i want to you to apply your china china expertise here how do you how will the chinese react they
4:45 am
have a lot of assets and resources at hand ok and they have an economy that is expanding really expanding how are the chinese going to react to this from go ahead i think they'll just take it on the chin they probably already anticipate this and they i'm sure have drawn up a list of things that they could retaliate. and i think among them would be areas where they feel that could hurt the u.s. where the u.s. is vulnerable so where is the u.s. vulnerable because the u.s. actually has you know a lot of cultural products going to china china is now growing more soybean and corn so if they basically say we're going to stop importing. your story being in corn us then a lot of the farmers are going to get upset and this is also a big lobby in the u.s. . they could also basically decide that they're not going to go forward with all
4:46 am
the boeing airplanes and turn to airbus instead and so this would also hurt you know u.s. manufacturing in a way. or oil and gas and other big u.s. . and china was importing huge number from the u.s. last year but you know china basically is buying a huge chunk of aramco from saudi arabia they clearly are trying to secure other oil and gas from other countries like russia and so they're basically diversifying all their imports and this way if they decide that they don't want to import from the us it would not be too painful for them and so china is not going to just sit back and you know pretend that you know everything's ok and let themselves be a punching bag know they're going to retaliate some way but they're not probably
4:47 am
going to make it too obvious probably basically create new laws here and they that are going to addressing here these are and we've run out of time we've run out of time. absolutely right this second shoe will drop many thanks to my guests a new york and in brussels and thanks to our viewers for watching is here to argue see you next time and remember trash talk rules. church secret indeed to sleep priests accused of sexually abusing children can get away with it literally going to call this the perfect solution. what the bishop to do then he finds out that the priest is a proof of true is simply moves to
4:48 am
a different spot were the previous. highest ranks of the catholic church conceal the accused priests from the police and justice system to that end it has. so nasty i don't think that i can flip out it just is not in. itself it's a very. pleasant walk selling you on the idea that dropping bombs brings police to the chicken hawks forcing you to fight the battles they're going. to do socks for the tell you that the beach gossip the tabloid lifestyles of the most important news today. i'm often asked doesn't tell me you are not cool enough and let's not buy their product. all the hawks that we along with our audience loves watching.
4:49 am
everybody i'm stephen bob taft hollywood guy you'll suspect every proud american first of all i'm just george washington and r.v. i'm going to suggest this is my buddy max famous financial guru just a little bit different i'm not a abraham lincoln lawyer no no no one knows up with all the drama happening in our country i'm shooting the road have some fun meet everyday americans come on and hopefully start to bridge the gap this is the great american people which.
4:50 am
as they cause a report lust soon. backs you know there's a famous quote that is sometimes attributed to lenin and maybe he didn't say it i don't know but you know so many things online are actually fake news and fake news is also in the news in this sort of theme of our shows are they yes well no lenin said that the capitalists would sell us the rope with which they hang themselves or know with which we will hang them so you know capitalism you know they're going to sell each other whatever to take down the weapons of the other side but you know what in america we're seeing that radical partisanship is going to take down capitalism as we know it's going to take down some of the biggest corporations in america because in the end are a fight delta finds there is no neutral ground so delta airlines is one of the largest private employer is employers in georgia and you
4:51 am
know what they announced that they would no longer allow a discount they would not want to give a discount to n.r.a. members after the florida shooting well the backlash was quite swift from georgia which their state legislature is controlled by the republicans and lieutenant governor casey cagle of georgia he's a republican and presides of the state senate he was joined by other conservative lawmakers last week in removing a fifty million dollars sales tax exemption on jet fuel that some had hoped would encourage delta to open even more routes the conservative backlash they're saying has highlighted a problem for many u.s. corporations in trying to maintain neutrality in the ongoing hyper partisan polarization happening. in the us political system well you know it's tough to part time in south africa was the boycott of barclays bank so when you apply pressure to
4:52 am
corporations you can affect great change and this movement generated put together mostly by teenagers and high schoolers to fight back against the n.r.a. have been shrewd in attacking corporations and saying corporations if you support the n.r.a. we are going to put a lot of pressure on you this forces corporations to disclose to shareholders they have a material risk that they must deal with and that has a snowball effect and it can be quite effective now as far as delta airlines it was happening in georgia and these parties are now in a struggle one might call a countable list and struggle of a bunch of rats in a pit trying to survive ending up becoming basically cannibals because the corporations have run out of runway to use in airlines metaphor in which to grow their businesses without encouraging absolutely horrid policies like giving the n.r.a. a blank check to. exploit the fearfulness of our
4:53 am
lawmakers to do battle against what is obviously a scourge and a horrible cancer in the soul of america that's your opinion the exact opposite opinion is in that about fifty percent of other americans so that same corporation delta says you know what we had only listened to the people that are like max kaiser and we're going to not allow this discount for entering members then enter a members and their supporters from the other fifty percent of americans say well we're going to boycott you and we're going to pressure you we're going to pressure all the anybody that gives you money or subsidiaries or the government or anything to we're going to cut off your financial lifeline and so the same response so they're like being pulled back and forth right and good ability. there's commercial saturation like in the old days if you had a skirmish like this a company could just go west and open up a new company and have
4:54 am
a new markets and new customers but america is already overly commercialized you know there's no way of the delta can go the airline business is mature there are so many routes now that can be exploited you can't really create many more routes and you can't really create that many more customers are at a point of different kind of. growth a limit to the sheer number of people and customers potential in the geographic limitations of the global economic limitations then of eating themselves cannibalistic least accountable ism so yes my view is what my view is but there's no way to avoid my view at this point in my view those who represent my view is have agency in this particular kerfuffle because both my my opinion is that both sides have agency and both sides are consumers we are a consumer society seventy percent of g.d.p. is consumption so that suggests that one hundred percent of people you encounter
4:55 am
during the day one hundred percent of them contribute to a corporation daily so they all have agency right now certainly. democratic side is ahead and they point out that corporations however are increasingly in the crosshairs because of this as pressure from social media and advocacy groups has intensified and calls for boycotts mounts more than a dozen companies have severed business ties with the n.r.a. since the massacre and parklane florida just as quickly a counter offensive arose from gun supporters excoriating to companies for their stance forcing business leaders to navigate the treacherous ground where social responsibility ideology and financial impact can. verge so fed ex for example ok fed ex is also based around south and red states and they came
4:56 am
out with a statement saying because they were forced to by consumers to say that they are against the n.r.a. zx position that civilians should have access to military grade assault weapons that we are against that as a corporation however we will continue to offer discounts to n.r.a. members and that discounts as remarkable twenty six percent who which makes you think it's an enticement to enjoy then or a dick's sporting goods which is the number one supplier of a ar fifteen has come out and said we're not selling to anyone these guns anyone under twenty one so they are making a bold stance other retailers are similarly taking a position against these a ar fifteen zero assault rifles and weapons of mass destruction and this will to your point though is that the economy is so tightly wound at this point that it's
4:57 am
very difficult to have one sector being boycotted again and so that a causing account of boycott and then a kind of boycott so you end up with a kind of a destructive because all consumer led consumer themselves because they're so evenly divided fifty fifty and partly it's because of cable news dividing them equally fifty fifty into very vicious very extreme hatred of each other both size of and the divide seems to get wider and wider and all the charts show that the left moves further left and the right has moved further right but the fact that the consumer is the one that will take down all the corporations because they just can't deal with the fact that the corporation that their products that they use an apple i phone or samsung or anything might sell their content to somebody that they are. wait on the other side of the aisle. again only this movement of the generated by majors is hitting the right nerve to cause an impact
4:58 am
and it's also threatening the law you know some independent media outlets are being socially phased out what i'm trying to say is that we will have lenin's paradise one day there will be no corporations there will be no corporate logos if these consumers in america they hate each other have their way because new corporation can exist if they cannot sell any products so that we may have some sort of workers' paradise it will be obviously we don't know workers anywhere that will be a consumerist paradise it will be a partisan paradise. as we were told from coolio the fact is you tube places videos and you tube is what you were talking about in three weeks of the media so you tube says new moderators might have mistakenly purged right wing channels youtube indicated that as the platform ramps up human
4:59 am
powered moderation efforts new moderators may have mistakenly removed or flagged right wing videos and channels bloomberg reported this news quoting a you tube spokesperson saying that as we work to hire rapidly and ramp up our policy and forstmann teams three twenty eighteen new members may misapply some of our policies resulting in mistaken removals the spokesperson said that you tube's policies had not changed and that we will reinstate any videos every room of an era so cable news led this drive the likes of rachel maddow who drove this you know hillary lost and they can deal with that so they had to find an explanation it was because of this fake news and and people hearing who they're not listening to me rachel maddow so you've got to take down any information that's not me and so you tube has been forced to spend. more money on ten thousand human moderators to start listening and watching all these videos and taking down and you thing and of course
5:00 am
you tube is based in a blue state liberal state progressive state democratic sort of state and those are the sort of people they hire and so the result has been accidental takedown of a lot of right wing republican content well if i can go metta for a moment matter america was plowing along under the rubric of manifest destiny for quite some time and the problem here is that america has run out of space you know the runway is cut short there's don't place else to go like the problems that were baked into the cake of the american experience where there was it's racism they know never went away it's hard coded in the american d.n.a. violence ultraviolence it's part of the american d.n.a. these are severe deep problems in the mirror soul but they were able to be ignored because there was as huge a land from sea to.

35 Views

info Stream Only

Uploaded by TV Archive on