but. calling for good chemistry donald trump removes america's top diplomat tillerson saying that they did not see eye to eye with the cia director mike set to take over . the state department you know hospital who is known for her role in the cia's torture program will take over the agency's brains. says it had nothing to do with the poisoning of the former double agent. in the u.k. last week. an american pair for doomsday by purchasing survival equipment and underground bunkers as some continue to fear a north korean. will have a full news bulletin for you in about an hour's time but coming away now it is keyser soze.

max kaiser this is the kaiser report it's time once again for the show that rocks all my gosh we're rocking the book. donald trump is certainly rocking the boat internationally he's upset ing the new world order i mean he's creating his own world order of chaos and of course this is negotiating technique many people believe in the business world and you act so deranged increase the that your opponent the other side of the trade table thinks this guy we don't know what he's going to do so we're going to talk a little bit in this episode about these things threats of trade war and things like this and renegotiating nafta of course donald trump was elected primarily by people who were looking for him to cause the sort of international trade war that

wanted him to pull out of nafta that wanted him to pull out of trance percipient partnership and t.t. ip the trans atlantic trade and investment partnership so all these deals he pulled out of and a lot of people on twitter are mostly neo liberal sorts and take and hate down trump so i'm going to look at these two tweets from this guy luke grown man who is responding to people on twitter saying oh my god basically donald trump has bankrupted the us where we're doomed and i would like to take it one step further the u.s. has defaulted roughly every forty years for the past eighty years one nine hundred thirty three and one nine hundred seventy one and in each of the prior to cases the default was done in by a merry fashion by a surprise unilateral decision of the u.s. president of course responding to donald trump unilaterally basically with a surprise decision announcing a trade war with these steel tariffs right well nine hundred seventy one the u.s. close the gold window that was a default yes a major default under nixon set up temporary. of course it became permanent and

correct so applying the same standards as you would any other president terms doing exactly what every other president has done you know the thing about chomp is that he made a tremendous mark a success in a one trillion dollar economy called manhattan and which is bigger than most countries in the world and so to be able to kind of rock and roll through the global economy like this is what a lot of people would argue is needed to rough it up to bring back some some agency for america you and i on price report i've been talking to down collins who is an american who lives in shanghai and he has the train of money report dot com and he told us on price very poor over a year ago that there's been a trade war going on for the last decade or two and but the u.s. doesn't seem to know that they're in it the u.s. china has been exercising a trade war against america and america is losing that trade war so perhaps who

knows who you may not be in a trade war since seven hundred seventy six i mean the world economy is a trade war that's the way trade is it's it's trade of what sometimes gets extremely hostile if you will and actually leads to war so you know a lot of times people make that argument but any time you have people exchanging goes from one country to another and currencies that are predominately the u.s. dollar the u.s. dollar being world reserve currency is an act of trade war in a lot of ways now you mention one nine hundred seventy one when the u.s. went off the gold standard that was the international gold standard in one thousand thirty three they first went bankrupt according to luke roman when they basically made it illegal for citizens of the united states to own gold and confiscated their gold and that kept them on the gold standard the international trade standard up until one nine hundred seventy one now since then we've been on the u.s. dollar standard so this is another headline relating to the u.s.

dollar and trump. between tax reform aka capital controls with u.s. characteristics tariffs and sanctions the u.s. appears to be accelerating the weaponization of the us dollar the us will likely soon find this to be an even bigger mistake and sending large amounts of u.s. jobs factories and ip to china he was responding to a tweet about a steve who says chumps is supportive of treasury work on russia sanctions says to expect sanctions in next several weeks on february twenty seventh he had said to expect within thirty days the notion of sanctions. of course you know another guest of our soon workers has talked about this as u.s. dollar weaponization of the u.s. dollar right now as the u.s. dollar not already weaponized because the u.s. dollar is backed by nothing unless you want to include the pentagon and one country is trying to get out of the us dollars or one reserve currency they turn to me a militaristically and so sort it's been weaponized all along and so how is this

different really i mean it's always been about us dollar debt being imposed on the world in exchange for cheap goods speaking of these trade deals remember i mentioned t t i p t p p the two big trade deals that hillary had wanted she was championing them as secretary of state obama was negotiating those over the years and they were so close to signing but it didn't get to the point where they could sign it before obama left office and of course people in wisconsin in pennsylvania in ohio places like this they did not want those trade deals because they already saw that the trade deals like nafta well there's no real trade deal with china it's just free trade with china china has their own sort of subsidies and tariffs on their own goods and stuff like that they've their protectionist but they've already seen the midwest saw the loss of all these jobs so one thing about why europeans

did not want for example t.t. ip which isn't trans person the transatlantic trade and investment partnership is they didn't want american chicken for example because american chicken has all sorts of bleach on it which european chicken does not by law they're not even allowed to have chicken but nobody wants the consumer themselves don't want it so here in america. we see a similar thing consumers are demanding cage free cruelty free eggs for example and you see this in any supermarket in america even. biggest name supermarkets there's a huge section on cruelty free eggs well the corporations don't like that big ag does not like this consumers are revolting against animal cruelty so the poultry industry is lobbying for laws to force stores to sell their eggs so as consumers are rebelling in iowa which is the largest seller of eggs and producer of eggs in

america the big ag is forcing the state to pass laws demanding that grocery stores have to store this if they accept any food stamps or. any assistance any poor people go in there and buy eggs they they need to store cruelty eggs right to keep being there the abt card the food empty abt card the food stamp program government subsidization has removed freedom of choice from the consumer in a way that is perpetuating a model of cruelty in the agricultural sector by choice by chance in other words how did these people become impoverished to begin with if it were not for the oleg opposition of these corporations to push out the entrepreneurial ism in america in favor of a clump takhar see core parker see and crony capitalism resulting now in consumers

being forced to eat and consume a that or the byproduct or product direct product of chickens that are being tortured to death well i guess that's not a great market for capitalism no and here are these companies said it was consumer demand and this is why they needed to torture these chickens and these chickens are kept in cages whereby they can't even move they can't move at all they can't turn they can't do anything they're just forced into these cages in california california was the first to pap pass a proposition to a year or two ago whereby no cruelty. eggs are allowed in their grocery stores at all so this is iowa by trying to preempt that from even happening in iowa and they're trying to also get federal law to force california to force their consumers to take these products but this is a lot of what these international trade deals that the u.s. . operates under it's always on behalf of the corporations they benefit from it

appears based on observation of places like wisconsin or michigan or pennsylvania that many workers did not benefit certainly in the united states perhaps in china but certainly not in the united states from the trade deals it's these people like these big agriculture who have benefited from the trade deals and it seems to be on behalf of those who remember these are the trade deals even t. p.p. remember they were going to force japan to have to take american beef which japanese consumers did not want to eat american beef because of things like mad cow in the way it's raised here compared to how it's raised in japan where you get spent fed beer. you know when you think about it because this is the result of the ultra aggressive marketing that makes things like tortured chickens. hip and fashionable according to big agriculture remember when they used to run a campaign celebrating the egg that everything was exactly you know if

and the incredible edible egg they were in for a while for many decades ago but these are now they should have the same one the incredible edible ie torture chicken egg you know but people should have the choice obviously they don't want it but they don't have the choice in an economy that's dominated by prison well they did have a choice max they did have the choice and that is the problem here that has presented itself to these big agricultural oligarch police that the consumer when given the choice chose to have the cruelty free. the eggs but they did not want the cruelty free eggs the they did not want to change their business model they they were like bad consumer we must punish them by forcing them by law get the law to force them to take our eggs whereby we stuff all these chickens into cages they're not don't let allow them the option to even have. to they're being deprived

of the choice and you mention all the gospel is a sham i have this headline here you know regarding that on the food supply the oleg opposition to food supply hits a snag german drug an ag chemicals giant bear a suffered a setback in its efforts to acquire the world's biggest seed company months anto bear had reckoned on winning regulatory approval for its sixty three point five billion dollar takeover at the beginning of this year but this week the company cautioned that it could take longer than expected to receive final clearance from e.u. regulators the mega merger would have made it the world's largest supplier of seeds and farm chemicals we've seen this trend the obama administration had already approved this merger. i think brazil also approved it so they were just waiting for the e.u. to approve this huge merger i think it would have been reduce it to basically four . it's always three or four but usually for the big four banks the big four accounting firms the big four food firms like we're all in their company you know

we're all in their company store that's the only option one of these four corporations you got to buy all your food from get your banking services from get your accounts and services from these are the this is always how the old obligation works right it's whether dale apparently is off no they they thought they would get read the stamp approval yes go ahead obviously this is the wave of the future we only need for corporations running the entire global economy the global food distribution and they expected that the e.u. regulators are saying wait wait wait wait wait hold on do we. really want four companies controlling eighty five percent of the global food supply and seed supply so we need to think about this and now they have to wait so it could it could be approved the way things always work sure it will be approved but right now it's not being rubber stamped as easily as they thought it would. be made for it should not

be approved but anyway we're going to take a break and when we come back very exciting interview coming away so don't go away . the far right. isn't just on the march it's taking violent mother's action i don't like it at the games you know you see these organizations which are all usually split into which we differ how do you view that. complex web of which are. you know when you don't see.

what the most. space. left on the hill said. to know. that. if you speak french. the. busy. welcome back to the kaiser a part imax kaiser's i'm not to go to new york city and speak with author professor dr michael lotzen who in a previous life was a balance of payments economist for chase manhattan bank will get into why that's

important in a second there dr michael hudson welcome back to the kaiser report good to be here again may donald trump still tariffs are they warranted are they a good idea or what's going on dr michael hutchence i think what they are is a shake. they don't seem to make sense economically and i'll explain that later but i've been spending two days trying to figure out since the logic is a travesty of protectionism is going to squeeze american producers so use steel and aluminum so there must be something else and i think that's something else is he's trying to renegotiate trump is trying to renegotiate that there ups with canada and mexico and these are the countries that are the most highly in steel and aluminum exports the united states so i think what trump is saying and he's already said well i will exempt them from these tariffs and i'll prevent i'll save them from having unemployment and there's still an aluminum industries if they

give a couple of concessions and rewrite and i think his plan is the reason that nafta is the go to mexico and say ok we'll exempt you from the fair but you have to build it well and you have to give us other games as well and obviously the president is not going to pay money to build that wall because his concern is with his own mexican voters not with american voters and as for canada they've lost out on every kind of agreement they've made since the auto agreement for the night. with the united states and i think. trump is saying that canada well look. you're going to have unemployment and you're still in this theory and especially al can't canada's aluminum. companies unless you make a give back to us an auto part trade an agricultural trade and certain other trade things and of course canada i think has reached the point at which they sort of had

enough of this pushing and and they can politically do it and still hold on to power so i think it's a no go there and then just has a compass come out and said well you know today's the day that the transpacific partnership is going to be. settled abroad by many of the asian countries and under this new deal with the united states being a member that will exclude american agricultural and other exports maybe giving it'll give preference so greatly help to other countries so i think trump has already said well i prefer bilateral agreements because five land o'lakes we can divide and conquer and smash them up and so he will then tell a asian nations unless you make a special deal for american agriculture we're going to what special care or so on you know when it is the whole thing is going to be a we can screw your economy if you don't go well that's what we're proposing for

you and. let's suppose that other countries say well i'm sorry we can't afford to do this we're not going to when you when you come up front and you say i'm going to win and you're going to lose all our voters are going to read the newspaper and they're not going to let us do that so here's one for the happen i think trump well and they'd say ok we'll try to bolt all of them he'll raise the tariffs on steel and aluminum in the last month steel prices were going up thirty three percent and aluminum prices forty percent according to the financial times graphs and. this is all already schoolies companies that use aluminum in case makers. for beer and people that make things out of it that now they're going to be squeezed with higher raw materials prices but there are no tariffs on the finished

manufacturers coming in from asia or europe so this is going to be the reverse of what protectionism is supposed to be. a low legacy good protectionist argument since a strategy if you import your raw materials cheaply and you try to get monopoly goods in the high value added exports but what approaches doing is the reverse of the way that anyone in america and germany and france all got rich on protectionism is raising the price of raw materials and squeezing the higher manufacturers so the effect of his policy is going to be the industrialisation and unemployment rather than and nobody is going to build a new steel mill or a new aluminum mill because they don't believe that these are terrorists being so self destructive of manufacturing have much chance of lasting very long so the

protectionist logic that raising their own unable the manufacturers that get enough money so they can afford to invest more in factories i am where people that's not going to work there's no logic to it economically let's talk about the stalemate at a time time i trade and trade policies as a lot of moving parts and it's difficult to wade through all of the economics and the incentives going across the globe and different countries but let's just talk about steel for a second sao he's obviously trying to create a more high paying jobs and the stale and astray by play. going on these tariffs in such a way as to level the playing field in the stale industry the recently laid off steel workers. you know can't go back to work so it's not necessarily about building a new steel factory but putting guys back on the floor now you've got some higher

paid jobs and politically this sounds like a winner it's he said he was going to increase jobs and bring back stale so in the short term at least this sam is like there's a lot of political logic to it as you point out the doctor outs and sally if american workers are now suddenly getting some higher priced jobs in a stale beza style and infer that some high priced workers in other countries are going to get squeezed right so but but in the short term for political expedience a this as far as cosmetics go a look slike it could be a winner right it looks like it if you take. into account only the what's happening with america few jobs being created here and the question is how many jobs will be lost the manufacturers association the department of commerce the number of think

tanks that already said they're going to be many more manufacturing jobs lost than steel jobs are created. for every job that's gained here as you just pointed out somebody is going to lose a job in canada and mexico and what do you think their response is going to be their response is going to be. and no but now they get not only their manufacturers who. can buy this was exported to the us to make steel goods the manufacturer is going to make these goods and export them to the united states and he and cheaper raw materials than the american manufacturer themselves and so. you can do that and then canada and mexico and other countries get to retaliate and cherry pick well what kind of american high technology exports do we want to exclude. and retaliate they help us well you know they have been here. and they making real cars and

airplanes and you can certainly put limits on boeing mexico and limited american beer and build up its own beer industry there is. this is not a trade war that america can win as easily missed that from things that the i remember under obama and previous administrations there was always a line about well we made a deal with got out of the dail and seems like donald trump doesn't have that kind of same ethos when i come to deal making is like us knows no deal is a deal i can't wrap up this how does this play and the things i mean i want to and you can say it's dishonorable but on the other hand you could say that radical approaches made it he was voted as a changemaker and as a rogue element american politics he's got it rip up these dales and start fresh but how does that play globally dr hudson well remember the title of. their firm well the art of breaking the deal that's how he made all of his money he sniffed

the suppliers when it came time to say well i really don't like that well where they all go you know eighty percent of what you want maybe fifty percent of what you want if you don't like it spent five years suing me and it's really cheaper for you to take a twenty percent or thirty percent because he's the banks he said i'm thirty there's no money to i'll have to go bankrupt bankrupt in the way if you're out unless you're renegotiate the deal same thing through labor union well you know i promise to pay you but you know i really don't like the work and i think they were that from joe he made those fortune by breaking the deal. in business and. you know the criminal parts of society that works it doesn't work in international diplomacy so much because no foreign countries will say wait a minute if we sign a deal with the united states well iran signed the deal with all the other countries. and then the major thanks and say well we're going to prove that you

know we broke the deal international treaty deal the ninety six these we drove them in the one nine hundred seventy s. in the one nine hundred eighty s. that's what we do. under in the deal is for you we can break in anytime we want any time we think we can cause you so many problems you can go to court you can wait you can wait to retaliate. we can stall and just quicker and. you know this is going to make other countries believe that i think the russian term is not agreements were that no agreement credible they won't believe that america can be part of trade agreements or momentary agreements or disarmament agreements the whole idea of. holding to international agreements and thrown out the window typically when ever any policy changes and yet have wall street rushing in to capitalize on in some way using their over leveraged models and access to finance

and their control of the central bank and donald trump a stance of play is doing something to help american workers and will he be able to go get this passed wall street in other words moral will the companies that are affected by this somehow engineer a way to maybe take this in engage in stock buybacks and other financial tracks that they're used to in other words it can dollar trump put a policy in to help workers in a way that shuts wall street out of their vulturous kind of predatory techniques well in the past wall street. always been able to go to congress because congress is in charge of trade deals not the executive branch but what trump is known as a very clever way of walking wall street out and locking congress out this is the tariffs are not part of the trade agreement technically there are national security

our national security is being threatened by. by having ok listen if you say he's figured out a way to lock wall street out that sounds good to make a stand for another segment short well that's going to do it for this edition of the kaiser report with me max kaiser and stacey ebert like to thank our guest dr michael hudson if you want to catch us on twitter as kaiser report him told next time by l. . the far right in britain isn't just on the march it's taking violent. action might need to take heed of that gives you know again i see things all the motivations which are usually split into which we differ and i hope you get.

a. complex way. but hope to do something to. put themselves on the line to get accepted or rejected . so when you want to be president i'm sure. you somehow want. to do. this is what the three of the more people. interested in the war. should.

this is boom bust broadcasting all around the world from washington d.c. on park chilton. today we talk about jobs and interest rates with the and the economy with danielle de martino booth and we also look at china in the wake of the change the constitution which allows presidents to serve unlimited terms and we consider the monumental belt and road initiative in china caleb maupin joins us from new york plus our correspondent manila chan tells us about the infrastructure deficit as it relates to rail and compares high speed rail in the u.s. to others around the globe but first on to some headlines. trumpet ministration has blocked the hostile takeover of u.s. based chip maker qualcomm by asian rival broadcom over national security concerns the decision by safest the committee on foreign and.