close to the summit between the two leaders the administration speaks with too many voices on north korea you've got national security advisor bolton bringing up the qaddafi issue with north korea they get very nervous because gadhafi gave up as weapons and then was killed that's not a good thing to talk about before the summit and i think secretary pompei oh the secretary of state has handled the issue well he's dealt with north korea has met with kim jong moon twice he established an intelligence channel with the north koreans i think the president needs to prepare substantively he needs to have a strategy but he needs to leave the details and the message to pohnpei oh too many in the administration including the president are speaking i believe the administration made a colossal mistake in getting out of the iran deal because iran was complying they were going to for several years not develop nuclear weapons they're enriching

uranium was being shipped out yes i wish the iran deal under president obama had included other provisions like iran's support for terrorism what they've done in syria american prisoners that cetera but i think the administration has now put some very unrealistic demands on both iran and our european allies and i think it is a bad mistake especially on the eve of negotiations with north korea the north koreans are going to say how can you make a deal with the u.s. if they've break agreements. double trump pounds ordered an investigation into his own investigators an independent inspector general will not look into whether the f.b.i.'s twenty sixteen probe into alleged russian collusion was legal on the scale of modern explains it's starting to become difficult to find someone that hasn't been caught up in the wave of suspicion. the u.s. department of justice is currently expanding its investigation into whether or not

its investigation of donald trump is legal are you confuse don't worry so are lots of americans but this is just a slice of the pie political leaders on both sides of the aisle are being investigated for criminal offenses with their opponents calling for them to be locked up make america great again. that's our president and the media is fantasizing about seeing him in handcuffs or if he fires any secret service agent who would allow the federal marshals and one of the ultram simply decides i don't have to follow the law i refuse to be held under the law no marshal can get into this white house and any secret service agent that defies me is fired well at some point he's going to have to come out of the white house trump's old nemesis isn't in the clear either i think that there is a lot to investigate.

she may not be in the headlines very much after her electoral defeat however we did find out last week that she's still under investigation much to the delight of donald trump who wants promised to put her behind bars it's just awfully good that someone with the temperament of donald trump is not in charge of the law in our country because you'd be in jail secretary clinton. and then there's obama's topps by john brennan the former cia director he was concerned about because of known russian effort. trying called him a disk. race to the american intelligence community and one former u.s.

attorney thinks he ought to be assembling a legal team n.b.c. news's consultant the former director of the central intelligence agency the most part is in fact leader of the cia in history needs a very very good lawyer criminal lawyer yes criminal oh yes and then there's devon newness now he's been digging up dirt on the intelligence community but now he's got some of his own we are going to get the document. members of congress want him to be looked into basically what he has done is he is scott old and put a cloud over his own investigation and he has become the subject basically he should be let in let's forget it it's a real problem investigations are flying like bullets in a western shootout high profile politicians are being accused of breaking u.s.

laws and could face legal proceedings this is leads fighting one another and this kind of legal war and that has nothing to do really what the american people and it's a great distraction actually from the issues that are important to the american people but it's consuming the white house now consuming the f.b.i. it's consumed the democratic party there's enormous tension between both sides if things are pretty ugly right now pretty ugly between the sides and i think it's going to get worse i really do is this just politics look at some of these charges actually stick up an artsy new york america's alternative or run nuclear deal on its threat of crippling sanctions are not going done well in some quarters the details after this.

twenty eight team coverage we've signed one of the greatest goal people. but there was one more question and by the way i was going to be your coach. guys i know you are nervous he's a huge star and the huge amount of pressure you have to the center of the beach but how would you. agree. you are the rock at the back nobody gets past you we need you to. go. alone. and i'm really happy to join. the special one. needs to just say the review team's latest edition to make it up as we go. look.

we start back in the u.k. we're almost a year on from the gren fell fire in london in which seventy two people died a public inquiry has officially been launched it opened with emotional testimony from victims' families and survivors one spoke of how his son was stillborn just hours after the tragedy please be aware that you might find some of the following video upsetting to watch. so i held my son. hoping. it's all if i treat my wife. she's made of the hardest thing to do i know. it was a strength coach so it will be. more

survivors will give their accounts over the next week or so the probe will then look into wider issues like the government's response time and preventative actions are teasing to richard or has been to meet locals who say they are frustrated at how little has actually changed. it's almost been a year since the devastating blaze and what's left of the grenfell tower could be

seen here behind the scaffolding it's a harrowing reminder of a tragedy that has left many questions unanswered. there are over a hundred tower blocks in london alone similar to ground zero and people living here want their government to make sure that it is also like that does not happen again it's like a here and now and we're still living in the same situation when we found out altered it was just a bit when. it just costs us praise and strangeness cheap to why we choose this the lives of so many people to this point comes in the street. so we know that it's obviously not safe before it could happen again when the moment for her to come on the program the homes were so what can the residents of tower blocks like these do

in an emergency the advise used was to stay put but now according to the london fire brigade is being changed to similar taney as evacuation because of the farmable clopping however the government is yet to ban it tourism a promise to spend four hundred million pounds to replace unsafe driving on high rise public housing projects just sixteen other tower blocks have had their having material replaced with non combustible materials so all the authorities doing enough awful lot of government haven't done enough. to the needs of those of us which by going through in terms of people that experience when family i don't think they're doing enough for them not nearly enough no i think the issue with the clothing they should have resolved upon our. shores i could see i mean the gardens that one sort of coming over and nothing. what struck me as i've spoken to a number of residents who live here at the child courts estate in camden is the

fear in their eyes at the thought that they too could have lost their lives and now they're after clarification from the government as to what's going to happen next to resolve those problems and action to be taken. we're ukase housing minister has said the government is listening to concerns and will discuss a policy review concerning a ban on flammable materials in construction. but over two thirds of former gren fell residents are yet to be revised while some one thousand two hundred souls are still living in emergency accommodation a campaigner whose home overlooks the charred remains of rent felt tower sees he has little hope that the government's words will actually turn into action we haven't seen corresponding action on to see action it's difficult to believe the government what asked for consultation if would know that they are calm boss to all

my tools still around buildings to do we shouldn't discuss it in part of it we should take action to d. because we need to have another growth they should be versity there should be presentation if there is no representation in democracy is not democracy is not just issue rod to cause more year to argue that we needed adversity in that it is taken of the year to see that we view what was obvious how long lead to justice. opposition is mounting against washington's new proposal for the year really in nuclear deal as the u.s. threatens tehran with what it calls the worst sanctions ever on monday u.s. secretary of state mike put forward twelve demands promising on preceded financial pressure if they're not met. iran must declare a full account of the prior military dimensions of its nuclear program iran must

stop enrichment but then support a middle east terrorist group around must also end its military support with iran must end its threatening behavior against its neighbors we will apply unprecedented financial pressure on the iranian regime leaders in tehran will have no doubt about our seriousness united states intends to work hard at diplomatic peace of working alongside all of our partners we focus on the europeans. secretary powell speech has not demonstrated how walking away from the discipline has made a will make the region safer there are scores of countries around the world who share our concerns we will remain committed to the continued full and effective from the mentation of the way and i'm convinced that over a period of time there will be a broad recognition that the strategy the president trump has laid out is the right one. there is no alternative to the just. the mark one to preserve and salvage the iran deal because it provides additional security and transparency for

germany and europe since we don't see any facts alternative a present we don't want to leave the deal. so i better run well the president give a firm response to the demands saying the u.s. has no business dictating to tehran and that the world will no longer give in to washington's quote bullying the u.s. secretary of state though indicated that there could be other goals in mind when he appeared to encourage the iranian people to question their country's leadership at the end of the day the iranian people will decide the timeline. at the end of the day the reigning people will get to make a choice about their leadership if they make the decision quickly that would be wonderful if they choose not to do so we will stay hard at this until we achieve the outcomes that i set forward today if we ever again. by sitting down at the negotiating table it would be detrimental to better not do that ever again.

americans keep saying they have nothing against us ordinary iranians thing they only target the government but in actual fact the sanctions affect the general public in iran just as much the united states has closed the door to negotiations we cannot hold talks anymore. and it seems mike pompei owes twelve of them are not sitting well with some in the us media either with variously describing them as fantasy silly and a pipe dream other experts said washington's belligerence could send the whole of the meeting spiralling out of control and leave the us increasingly isolated. this is not the first time actually american administrations in the past have tried to actually destabilize the iran from the inside but the problem with that is that we destabilizing governments in this part of the world from libya in syria in. various parts in egypt. in tunisia these disruptions for the for the stability of these countries created more damage and more harms for the rule of law for human rights

for human dignity all over the region will be seeing that the wrong will not trust the united states for years and the allies of the united states on the other hand even the europeans they cannot count on what the united states say. the champ administration regardless of what their allies in europe are saying they withdraw from the deal that the europeans were supporting i think it will be very hard for the united states to bring europeans or are the sensors on board in order to support that maximum pressure that they are talking. well if you'd like to have your say on any of those stories why not log on to our t.v. dot com tony leave a comment and i'll be here with more global news in raw and half an hour's time this is.

what we've got to do is identify the threats that we have it's crazy for him to let it be an arms race is often spearing dramatic development the only mostly i'm going to resist i don't see how that strategy will be successful very critical time to sit down and talk. to you not hear that. much as you just did that in. egypt. that no he has said he had been but. he can't tell you that outside of that much on the and. by then coffee session not that. by then is a shift of all. not i don't.

want. some or some certainly not so with. daniel and also it was revealed to the pope multiple injuries among current connector so for them to keep sophie hollow look but the show's real your mercy on the phone to the book on a few months of a palpable sense of the sort of society you're going to and it's a book in a moral sense of what my. own admitted nothing about i came upon an awful lot me on a person's you know how i need something that will save you up a locked down long enough something outside of. the model to us and the titles look modest for that's what i can and maybe not maybe i'm never sure that's .

oh max kaiser and this is the kaiser of for ever open lotus of perpetual knowledge and you know what today is a very special day very special day special day stacy x. is pizza day remember i think it was back in two thousand and nine somebody bought some pizzas for some other gamers on line for ten thousand big coin which you know this week would only be worth about eighty million dollars you know they should have lily allen day you know lily allen was going to be hired to perform and being paid two hundred thousand bitcoin when it was just pennies a big coin today though would be worth almost two billion dollars so she's feeling the smite of bitcoin p.

today in her own way well many people in the cryptocurrency sort of space do feel regret often because of the way the evolution of big queen has happened as we've mentioned before in the early days we used to think it was a means of exchange and we didn't think of the future store a value aspect to it so odds are very still living in that past that a living in his own private idaho roger very then c. and b. c. has i'm on you know they talk about the old bitcoin of the past that's why the guy spent ten thousand bitcoin on a pizza because it used to be a means of exchange now it's a store of value everybody holdalls holdalls hotels or hostels toddles hobbles however you want to pronounce it but we're going to talk about the old school you know financial world every once in a while we go back there and look and see what the dinosaurs are doing this is a headline that you predicted and eve said it many many many times right here on the crisis report over the past few years and that is the leveraged buyout of the spock exchange of the u.s.

equity markets this is what the slow motion l b o of this. mark it looks like l b o being leveraged buyouts and that started by you on wall street the whole of that trend for leveraged buyouts but this is the chart from j.p. morgan it just shows you that stock available for the public to buy there's less and less of it as companies buy more and more the shares back i thought those of them for a biography if i turned it upside down oh right of course well we have discussed this many times and i'm glad to see this finally getting some recognition out there in the financial press this phenomenon of neal feudalism coming back into the economy due to rampant mergers and acquisitions fueled by free money so what this all means is that the number of stocks traded on the new york stock exchange and other exchanges is shrinking because these companies are being bought out they're being taken private and using that leveraged buyouts just to refresh people's memory a leveraged buyout is that you're using the collateral of

a company you're set to acquire as the collateral for the money you need to borrow to buy that company and then after you buy the company you return the money you borrowed to the bank that was borrowed to you based on the fact that you had put up the collateral of the company that you're acquiring so just think about that for a second in other words like during the mike milken days of corporate raiders like carl icahn or ron perlman they would go to mike milken and say here's a company they've got billions of dollars worth of assets on the books i want to put their assets up as collateral to borrow the ten billion dollars i need to buy them and then they would buy them and then they would split the company up into many pieces and fire lots of people and raid the pension account and destroy capitalism as we know it and make off with billions of dollars and we ended up with america's oligarchies of billionaire corporate raiders which we now call activist investors and the trend has resulted in terminal capitalism where the

rat. have been given unlimited credit and no regulations and they are killing the golden goose soon there will be no stocks to buy at all no opportunity to excel at all and we're back to serfdom is the road to serfdom for real about that fake version that referenced straight communism but the real road to serfdom brought on by own federal government wasn't actually when you were talking like that it made me realize that politicians have kind of tried to help as there's been a leveraged buyout of the stock market and entire industries and you see that with the company formation there are no companies formed anymore in america compared to what it used to be like in the seventy's and eighty's as a decline in the number of new company formations but in that time what has happened is the amount of deposit you need to put down on a property is basically offering the same sort of deal if you're certain class of person who can get

a mortgage for one hundred percent mortgage member and during the financial before the financial crisis they were offering like one hundred ten percent mortgages and some places where you didn't need to put up anything they would actually give you a deposit they would loan you the deposit and loan you the money to fix the place up and then flip it so that was kind of the same model in order to keep this whole scheme going it's called a ponzi scheme you know and it has various iterations throughout the financial sector and has been for hundreds of years and the only check and balance that's worked in the past to some degree has been the gold standard once the gold standard window was closed in one nine hundred seventy one it ushered in an era of pure financialization and debt driven corporate rating which has resulted in the rise of extremely bad actors like jamie diamond for example who is running really a herd of carnivorous vultures who are undermining america as we know it and

as a result you know you can see it in some of the data. that isn't rough you know people's health people's people you know you've got another chart there i know i can feel it but i'm going to get to that chart because i'm going to stay with jamie dimon j.p. morgan because this data on leveraged buyouts is about them so if we can get to that other chart i'll get to that i know you know and set up a chart that's coming there's a dark coming that's going to blow your mind but when you first said when he said that finance you blamed bad actors on financialization i was thinking you were going to start talking about like sylvester stallone people like that is that's where i thought you were going with that but i was a bit confused so here's j.p. morgan study that actual they put a time frame on when american stock market will be totally private there will be no public stock exchange in seventy seven years they said an analysis by j.p. morgan found that at the current rate of stock buybacks all else equal i east seeming no new stock issuance the s. and p. well l.b.o. itself in about seventy seven years while in other words they are doing some basic

analysis to figure out at what point these stocks are completely gone from the public domain but i think that the timetable needs to be accelerated to maybe five or ten years and also tell you what because we are now experiencing the end of a thirty year bull market in bonds which means you are entering a period of rising interest rates and so the urgency to get deals done before the any cost is applied toward financing whatsoever needs to happen quickly so i predict in the next twenty four months you're going to see the biggest wave of mergers and acquisitions ever in history by a factor of ten as just thirty or forty percent of everything that's traded out there gets gobbled up and taken private so now we're going to turn to those charts that you know that out for everybody in the audience has just been like not even listening to what we've been saying the last two minutes because they're like what are these are called cards coming out dramatic tension and i have actually two charts to say that it's becoming even more fantastic well life expectancy in the united states versus peer nations from one nine hundred eighty the u.s.

has been falling behind the peer nations this is from the new york times and. the pira nations are japan switzerland spain italy for a stronger france luxemburg norway sweden canada new zealand finland the netherlands iceland ireland austria portugal belgium but in denmark germany so as you see they've fallen behind every single one of their peers are doing worse despite what hillary clinton it said on the campaign trail where she thought that america was already great we don't need to be any better it looks like a different trajectory after a one nine hundred eighty this is the beginning of the whole leveraged buyout boom you were there from mike milken period that started i think part of that that cheap money the way of financing and financialization could be responsible for this compared to all those competitor nations the other wealthy nations of the world why the u.s. has done so poorly as you see this is the line out is how expensive your health care is and the line vertical is how long you live so americans are spending a lot more than other competitor nations on health care and living

a lot less longer that doesn't look good that's financialization as well i think life expectancy is overrated you know america is a nation of goldfish you know goldfish will eat all the food you give them until they kill themselves if you go to san francisco and you see people living the american dream shooting up smack on the sidewalk going to see the needles everywhere dying in the street that's the american dream that's the american goldfish fulfilling the promise of the leveraged buyout to take all future revenue and earnings for the next fifty to one hundred years and compress it to one year and then extracted by the leveraged buyout of the private equity firm so warren buffett has killed like a hundred years of american history by taking all that revenue then job creation for one hundred years and compressing it through a leveraged buyout into the present day and then extracting that for himself so that's the very apotheosis of narcissism he's king narcisse in this in this

bone fired. of discussed in fact a tom wolfe reference by the way who passed away recently rest in peace tom wolfe fantastic writer part of the new journalism school in america when america was great so part of what the new york times piece looking at this data finds is that since the one nine hundred eighty s. and i think it's part of financialization and the rise of these runty ace they just extract equity that built by previous generations built by say apple extract all the equity from their company now built a company built by steve jobs and his innovation and his ideas well here we have the same thing is that we were equal to our you know other competitor developing developed nations at the time and then what happened is the rise of. basically like vast bureaucracies you would think that a socialist more socialist system like france or germany would have

a bigger bureaucracy but in fact america has a bigger bureaucracy they find in their healthcare system vast paperwork anybody who has ever experienced both of the systems there are a lot of people right now on you tube saying now america's health care system is the best in fact is filled with paperwork and they said that almost all of the price rise rises compared to europe and japan and other competitors is completely just a markup it's markup on services and goods and pharmaceuticals and stuff like that so because there's no competition so. it's the exact system of the road to serfdom that was predicted for the likes of europe but in fact european prices there's less of a market there's less of iran take classes less scalping there's more delivery of service you get less delivery of service and that shows in their results of life expectancy and actual health outcomes right warren buffett never.