paris police shoot and kill a man who stabbed one person to death and injured several others at near the city's main opera house a terror investigation is underway. donald trump faces a torrent of criticism from leaving european politicians and the media over his decision to pull the u.s. out of the iran nuclear deal. and sweden considers studying the link between immigration and crime saying public demand for such a movie is in. and about an hour's time my colleague mccarran will be here with a look back at the stories that shape the week your favorite finance gurus max and stacey are coming right up on the kaiser report stay with us you're watching our international.

as or this is a kaiser report oh my god i just a matter of elation probing the deepest recesses of my own conscious mind about it stacy max you know where i am glad to see that you have a little white board jurors who might need it because this whole episode is going to be well the first half of this episode is going to be charts because the wall street journal did a great basically assembly of charts to show where we are ten years after the financial crisis hit remember the financial crisis of two thousand and eight well ten years later twenty eighteen these are some where we've come from since then and first they start with good times are back in the market the government pumped trillions of dollars into the economy to stabilize the banking system bank stocks lagged behind the market but got

a boost after november twenty sixth seen when donald trump was elected president and promised to tear up crisis air regulations so this is the dow jones industrial average up there on the way and these are the banking stocks which kind of lagged for a while because everybody thought well you know frank was supposedly going to do something and all these sort of regulations that were brought in to keep them from defrauding the american people but john came in and the republicans are promising to tear up everything well the number that they look at to determine whether or not they are succeeding as politicians as the dow jones industrial average so that's going up they consider themselves to be succeeding the underlying fault of this mechanism to distribute the wealth generated by the country is never consider the fact that they wealth and income gap is spreading wildly toward third world status infant mortality up and health care bang. doing millions is not part of the

equation they simply look at the dow jones index to divorce how yeah mortality rates are not only up for infants but also for working age adults so that is a shock that is something that has really happened in the u.s. or anywhere drugmakers or in the dow jones so that go there actually the biggest opioid is a family owned private business the one in connecticut that makes oxy and all those things are actually not in the right and all the ancillary businesses that support the heroin for you know synthetic heroin distribution they distribute heroin instead of wealth yes the american economy i mean back in soviet days they were they ran on vodka in america today runs on synthetic heroin so we have two more charts here showing this inequality the wall street journal does show the two charts that establish that indeed there has been huge inequality and remember two thousand and eight was when obama came into office he exited in two thousand and sixteen so this these are mostly his ten years this is what happened under barack

obama i remember a lot of resistance media says that this was a great great great time but as the actual data suggests when why the mortality rates increase so hugely that the you know world health organization sort of bodies say this is only happens in sort of like civil war or in epidemics that we see increases in mortality of the the amount that has happened in the united states well let's look at these next two charge the first one median household income is only up five point three percent since two thousand and eight employment has risen but about a fifth of the u.s. jobs are in occupations where the median income is below the federal poverty line and median household income is barely above two thousand and eight level adjusting for inflation so as we said like most of the very wealthy receive most. income from

dividends and interest in interest income and capital gains so they're still on the lower income their the stock market is up three four five fold since two thousand and eight that's where their income comes from people working for a living while twenty percent of people in a job are being paid less than the federal poverty level you keep these people from revolting you know push the synthetic heroin push the opiates i mean i don't think there's any coincidence that we've got a wealth concentration unprecedented send even more exist in the robber barrons in a very docile population and explosion in synthetic heroin being pushed by the pharmaceutical industry and the medical insurance industry there's no coincidence there america strong out there out there nodding out there dopers cording to this charts from the wall street journal it would suggest that there is an epidemic of inequality and in a complex system one doesn't know how it's going to manifest same as videos in san

francisco in the bar in the public transport station people openly shooting smack it right there in the public and deaf according on themselves and you know people look at that and say that's the american economy succeeding the stocks that push this are going up ok and as you know i hate to be very i have to be harsh but let's be real i'm going to say something that people say oh that's very harsh but it's true nominee i'm not going to say ok ok so we're going to move to the next chart from the wall street journal and this shows the income gap the wealth and income gap two thousand and eight versus two thousand and eighteen inequality has grown people at the bottom of the pay scale lost their jobs during the crisis the government's response to the crisis helped inflate the value of assets like stocks and real estate which are more often owned by the wealthy so here you have a distribution of wealth by wealth percentile two thousand and seven versus two thousand and sixteen. so this is under obama's watch and the resistance wants us to

return to this they don't want to fix us the resistance the resistance heroes the rachel maddow of the world want this to continue like this because she's at the top she's earning a lot more so in fact the top one percent owned thirty three point seven percent of all wealth in the u.s. in two thousand and seven now they own thirty eight point seven percent so their real wealth has increased by over ten percent they're happy well the rest the next nine percent owned thirty seven point seven percent that in two thousand and sixteen is thirty eight point five percent so a little bit better but the bottom ninety percent own twenty eight point six percent of us wealth in two thousand and seven twenty eight point six percent now it's twenty two point eight percent that's down but that's down like almost twenty percent so they've suffered a huge crushing defeat the bottom ninety percent under a system that rachel maddow m s n b c thinks was fantastic they think that system

was so freaking great and it was like who voted against this who it was it against us it can't be us it can't be me rachel maddow and this system i love that has done so well for me it must be some foreigners must be some superman it must be some goober freak from out of out of space. we're going with that you know they're trying to push the blame somewhere else instead of on you know lying system which is statistically and this is the data this is you know these are the facts this is coming from your own federal reserve this is coming from your bro labor statistics this is coming from u.s. government data shows that the top one percent are over ten percent better off the bottom ninety percent are more than twenty percent worse off so. well i design my engineering by financial engineering it's ockham's razor would suggest this is the reason people didn't want whoever the continuation of the obama regime remember

hillary clinton ran as a continuation of obama even though she was way further right than him but she ran as a continuation of obama and people were like well if i were you know i'd rather just blow the whole system up with an orangutan i don't care well look i mean there is the fake left in the media space like rachel maddow by the equally culpable are journalists so called on the fake right like john stossel who's a fake right wing journalist who also doesn't focus on any of the realities that we are describing here and you know if it on the old failed dictatorships regimes yesterday yesteryear as the economies are failing they would prompt a bigger and bigger statues of their dictators and so here in america as the american economy is failing miserably they're there propping up their icons of these you know s. and p. five hundred of these few stocks that represent the the tomic you know godsends that we should all worship before even though they're being puffed up by

free money from the fed well exactly what i'm convinced just actually ok have you ever ever ever ever once seen rachel maddow leave new york city leave manhattan no she records they all the time she hangs out with these people who who have convinced themselves because nobody likes to pretend that they've become wealthy in a rigged game that they've been the beneficiaries of free money because they believe they've internalized this notion that well it's just going to trickle down because i'm so benevolent i tip the waiter quite well i give thirty forty percent tips on a good person and this is trickling down so the next chart from wall street journal for the bailouts many unhappy returns the financial crisis cost the u.s. economy some six trillion to fourteen trillion dollars in lost output and ended only after the government promised aid. worth an estimated twelve point six trillion dollars yet many were dissatisfied with aspects of the response ranging from the price tag to the perceived choice of beneficiaries you see how the wall street journal of a course has to because they are the wall street journal they're not going to our i

say well it's a perceived it's perceived that all the money went to wall street and did ok there are losses were made out the bottom ninety percent there clearly as the previous story shows their losses they had to eat their losses they had to pound sand right well no no time in history during a crisis like in two thousand and eight where the creditors bailed out instead of the debtors i mean going back even to build local times is the debtors that get bailed out not the creditors but because of the fascism the neo fascism that listed leni like neal fascism between the bankers on wall street and the federal government fused together in a corporate corporal craddick daisy chain of incest and biola and financial shenanigans the creditors were bailed out and what are they do with all the bailed out money they inflated the bubble even higher so now i've got s. and p. hitting the new all time highs but the more reality and the ethics of the country

and the wealth and income gap and nosedive so you've got people on the street shooting up heroin death or kidding on themselves and like janet yellen weber's running the fed these days powell jesse powell walking by and saying that's an indication of our success my kids are there shooting up heroin and difficult in the street just you powell say because i'm a hero in america thank you just this last hour is going to show exactly and demonstrate the truth of what you just said because this is government backed firms make up ninety six percent of mortgage security issuance so u.s. housing policy is frozen in time when fannie mae and freddie mac. were bailed out in two thousand and eight lawmakers promise to reset of u.s. housing finance but ten years later next to nothing has changed so government backed firms ninety six percent of all mortgages are backed by the. u.s. government the taxpayer and you know i remember the two thousand and eight financial crisis well it was a caused by wall street reaping huge amounts of fees and profits for themselves when they spun all these subprime mortgages into c.d.o.

as another mortgage backed securities and they profited hugely they all went bust they got caught holding some of these dodgy products that they got. themselves call them you know goldman sachs famously in the testing so what are we to do i mean what do we do when we have faith journalist on the left like rachel maddow fake journalist on the right like john stossel and there is no coverage for americans to understand what you need to kind of report of course and we're going to be live in new york coming up yeah right down your wall street actually like right there next to wall street we're going to want to live shows we're going to do a few live shows next week next week and in new york new york city will be there and say stuff that you know i want to know what i'm going to say well stay tuned for the second half much more coming your way. don't go away.

due to the economic war is unfolding in the realm of education the right to education being supplanted by the right to. education. higher education is becoming just another product that can be bought and sold but it's not just about education anymore it's also about running a business where you know mobiles at bruges could this also. mean that we could if we. want to use the place of students in this business model for college i was born now and i'm extremely bored education the new global economic war. the iran nuclear deal was one seen as a major. achievement of american diplomacy but that's no longer the case donald trump's decision to pull out of the deal has reopened a major international problem and left allies betrayed and adverse to his confused

how should the world perceive. welcome back to the kaiser report i mask on their time now to go to chicago to talk with michelle lock of miss talk dot com mesh welcome back put your bag on the show back now you go on well super so miss the latest jobs report either one hundred sixty four thousand jobs were added or three thousand or the unemployment rate allegedly fell to under four percent the first time since two thousand we are thoughts on the jobs report mesh well we look at wage growth everyone keeps expecting wage drugs and he will be talking about bills for you know i don't know the poster is that you know people just kind of give up on this idea wage growth is anemic last night i was up to like three o'clock in the morning i put out

a report well ok back to you know where the jobs where are we creating these jobs and what are the most of these jobs except for professional and business services. either stagnant or man in france has actually been declining since two thousand are active in the crying for decade so i like to add two big groups rebels fray and leisure and hospitality after people working in bars and shape restaurants and though i asked where the wage growth has been max and as soon as where that job growth wage growth nonexistent the word for professional business services max the whole picture would be an absolute disaster mining utilities those are those are two of the big ones no no job growth in those max none right so as labor productivity continues to rise hourly compensation continues to fall right talk

about that a little bit now the b.l.s. only comes out with the these are real waste reports every may so and as for a year and a half ago so we're going on. two years old here now but the last stats i had maxed was was the real wages that's that's inflation adjusted wages are down in seven out of the last eleven years and people keep expecting modell's to go out and buy houses when home prices which aren't even a c.p.a. you bryan singer rising and rising real wages are declining and economists can fish for out why why people are buying oh well that chance or presumably it's dangerous to the stability of this consumer economy and political system right as there are so called cohesion risk as economists like to cause mesh well there are so many arrests here and i keep reading suitors stupor that i write before you came on

france jam out and say you know their budget director said it was going to balance the budget oh you know i know that i'm going to have however the economic commentary on it was good it was in say so so they're thinking in this world of changing of the magna m.m.t. and for a government spending and money grows on trees and we know we're we've now come to the point where allegedly it's insulting so talk about balancing the budget that's where we are and and yet despite this the spy this what governments are doing in japan in europe in the united states the c.p.i. at least as they measure it they don't put asset prices in their most definitely homes or the stock market. prices are barely rising again if you believe them and l.

i always i do because they don't measure what's important they don't measure the cost of education health care is under reported in the c.p.i. and home prices are in the c.b.i. at all so of course the way they measure it they say that inflation has been high and it's really not and and money all the screw generation are really getting spurred on that's when you say wages are either not keeping pace or declining rents however are surging this is been going on for a while and i can talk about this all about i follow a report on the red cafe they published a space fast we're seeing. the biggest year over year increases in rents in quite a while of course it's all over the map now i emailed them and asked them i said i wanted to know if this was weighted average and they said yes you know some

cities are soaring and you know where is that of course it's near where they were flying oil some places and taxes were saying rest up as much as thirty two percent a year while. that's high do well and other places namely you know new york city where people are living actually people are feeling a little annoyed as well some are saying declining a raft this is another one of them out these. b.l.s. takes all these banks put them in a mixer averages them out was a job you know this is what's happening well c.p.i. has really an individual way if you're going to college you know your c.p.i. is way higher you know if you're paying through your own health care your c.p.i. is way higher if you're on medicare i'm going to be on medicare. instep temper max there's a plus and a minus to that of mine as of course as i'm getting all the pluses i'm getting

nearly free healthcare all of that figures and they say well then let's errors this add up and with people getting older and older and going on medicare who's paying for this well it's the young healthy workers there are screwed that can't afford a house essentially they're paying by medicare remain makes no sense maxed let's look at some of the bigger economic trends out there and let's look a little bit at gold you know we've been talking about gold for a number of years and watching it eben flow at different scenarios now the demand in q one has slumped to a ten year low the previous low as the kill one of two thousand and eight which was then turned out to be a big springboard we know what happened later that year so your thoughts on gold mess and the dollar well that was the headline max but the headline was gold demand

slumps. greatest the most and in ten years that's at some point ballsy you know it and i know what i'm wondering all right we know it by looking at the price the price is not at a ten year low here man and you know all these analysts say they look at jury demand they look at demand for coins and that's been a man for coins from the retail investor is what we're talking about that demand is at a ten year low so make the report is accurate i have no reason to believe that it's not me who are actually selling their coins they are now to invest in stocks i mean personally i think that's crazy but that that's that's what's going on are we so that's what the report says is going on but that's not a demand for gold every ounce of gold nearly every ounce of gold this ever been my since inception is still in existence. that is part of the goal supply you know.

gold prices up for a hundred dollars off the bottom a few years ago that's the real demand the real demand is what it is is all the people holding gold they could sell it but they're not they shoes the hold it at a price three hundred dollars off of the bottom and with retail investors selling their coins to buy stocks or maybe just to pay the bills max actually likely that's what i think is happening because consumers are tapped out the bass the demand for gold so these analysts are wrong and the retail investors selling their gold coins that's a contrarian indicator if you ask me max identity has a really nice time here to buy a goal when people are tossing away when retail investors don't understand what's going on or they're tapped out and they need to sell their goals to pay the bills right well yeah and then on the dollar another dollar is always talked about in the

same sentence as gold these two are kind of a symbiotic relationship well you know the dollars been rallying recently so how does that factor into it mesh well the dollars been relishing gold is actually held its own it's been drifting every time the price and then in the last actually for two years now it's in a two year consolidation pattern here right around thirteen hundred dollars an ounce they every time it's trying to break out of that thirteen level the level it's been served back. every dying people you know it all back. we see the talk from economists was going to crash it's going to drop to five hundred or a hundred or whatever. they are i like my chances here the u.s. deficit is going to go off. in europe i think they're at the end of the recovery of this there's more and currencies that are really under pressure here right now

and of course no one believes any of the staff china i think the goal economy has as p.t. or i've said that before or i gotta admit you're on the say that here we are looks like it again and very few see it coming to the fed. the rest of us year to the upside. in the euro zone. really bad economic reports out of germany for about the last half a year now so how's that going to work i think germany's ducting to be an engine of growth and we have truck firing off trade wars with about everybody no one wins trade wars might raise prices and that's kind of what we've seen here oil prices are going up on the on this talk the last time oil was surging like this was was two thousand and eight well then hit one hundred forty the next thing we know the

u.s. was in recession max i think we're heading up for a replay of that if so what's the fed going to do i think we know what they're going to do they're going to they're going to cut race. they're probably going to and if we get another recession i think that's going to be good for goal ultimately gold is a measure of faith in central banks and that's really what. tot a few years ago when gold bottom mariya drake he came out in two thousand and twelve and he said we will do whatever it takes to save the euro and believe me it will be enough the irony of that statement max was he didn't do anything they did nothing that state money alone restore however. confidence in central banks for a while people are questioning faith in central banks people are wondering in the

us whether or not the best behind her the e.c.b. has made no progress at all in its battle to reduce inflation yet we won't use asset bubbles and the quote of the day i. quote of the month was was came out a report the other day they just made because it was synonymous of what i've been saying it is it's you know if they want a cost the way should the central banks would do exactly what they've been doing for the last six years building these asset bubbles when they burst it's going to cost the place. mesh well we've got to cut it off there of course another benefit of being here social security age is you've got tremendous wisdom we appreciate your bringing it to the show thanks for being on the kaiser report and next always a pleasure we need to do this more often and we'll see you next time and that's

going to do it for this this you know the kaiser report with me max kaiser stacy everett like i guess miss oh miss talk dot com if you want to reach us on twitter it's kaiser report it's a lifetime by all. about your sudden passing i finally just learned you were yourself and taken your last abang turn. jacked up to you as we all do it but i tell you i'm sorry. so i write these last words in hopes to put to rest these things that i never got my chance to. remember when we first met my life turned on each page. but then my feeling starting to change you talked about more like it was a key. still some are fond of you those that didn't like to question our ark and i

secretly promised to never be like that it said one does not leave a funeral the same as one enters the mind gets consumed with death this was quite different here's a speech here because there were no other takers. to claim that mainstream media has met its maker. it. is. and. i think. that in the middle of the sixties there were thirteen million students enrolled in higher education in two thousand and fifteen there were two hundred million in less than fifteen years there are expected to be four hundred million to overachieve

united. are you hold life easier. to her leveraging the border and. while the demand keeps growing university tuition fees skyrocket and the world over the cost of education is high increasingly it's terrible for college towns more. i don't understand how can a school be a scam. in the name of so-called economic pragmatism and as a result of international competition universities are turning into a huge money making machine that's. none of my family members went to university i think i wanted to be i wanted to be got one. from shanghai to new york paris to go in countries around the world reflect trying different moves each remodelling its system in its own way but at what price and who profits from it. was.