when to devour actions the deer chewed i went to meet locals who say they're frustrated at how little has changed. it's almost been a year since the devastating blaze and what's left of the grenfell tower can 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 grandchild and people living here want their government to make sure that it is also like that does not happen again it's like a year now and we're still living in the same situation when we found out altered it was between when. it just costs us praise and just thinking this is cheap material why would you risk the lives of so many people and say this food comes on the street. so we know that it's obviously not safe before we could

help in the garden at 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 they advised used was to stay put but now according to the london fire brigade is being changed to similar evacuation because of the farmable clopping however the government is yet to ban it to raise them a promise to spend four hundred million pounds to replace unsafe clubbing on high rise public housing blocks just sixteen other tower blocks have had their having material replaced with non combustible materials so are the authorities doing enough awful lot of government haven't done enough. to suit the needs of those of us which by going through in terms of the for 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. choice i could see i mean to go

against that one sort of coming over and sleeping the things. 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 now dear tutor r.t. . the u.k.'s housing minister says the government is listening to concerns and will discuss a policy review concerning a band of more materials in construction over two thirds of former gram for residents are yet to be rehabbed while some eighty two households are still living in emergency accommodation a year on a campaigner whose home overlooks the charred remains of ground for terrorists and he's got little hope that the government's words will turn into anything more than . we haven't seen corresponding option on to see action it's difficult to

believe the government why ask for consultation if we know that the outcome boss table materials still wrapped around buildings today we shouldn't discuss it in part of it we should take action to d. because we need to have an adult grenfell they should be versity they should be presentation if there is no representation in democracy is not democracy is not just issue right to cause more year to argue that we need a diversity in that it is to kind of want to see that we view what was obvious how long will it justice. another news this morning facebook bosses again found himself hauled before lawmakers to apologize for the exploitation of eighty seven million users data this time it was here a peer an m.p.c. questioning him about the social networks protection standards and its handling of the situation when it was alleged that cambridge analytical had exploited accounts for years to influence users of the period it was like

a bug said facebook is taking steps to prevent similar instances in future but some lawmakers still weren't happy with that perhaps is because someone spent twice as much time asking their questions than zuckerberg spent unser in the. who decides what is acceptable why is there no transparency in this process at all which specific measures that will be taken very feasible to ensure that just scandal like the one you're hearing victims would not accumulate where there the question of protection of privacy in the rules and free speech that you were asked in congress is actually the tip of the iceberg or is there a bigger iceberg there was one question raised. to my question i asked you six yes or no question so you're not a single piece or. vomit sure we follow up and get your answers to those anxious of these new brave new world that mr zuckerberg has presented to us it emerged in

march that fifty million facebook profiles may have been breached by the british political data company there that was soon revised up to eighty seven million the public backlash saw the facebook boss take a full page newspaper ads may recall in britain america to say sorry but it didn't stop the delete facebook hashtags from trending nor did it save the company from being investigated by regulators is what political activist and social campaigner george barda told me he made of the hearing and the wider facebook data scandal. i think there's a sort of pattern that comes out from these these congressional hearings parliament hearings they're quite stage a lot of the time is taken up with questions and you know mark zuckerberg is quite practiced trying to seem contrite and actually kind of avoiding a lot of detail when whenever any really key questions are asked in terms of the detail his response tends to be i'm not really sure i'll get back to you on it. and

so i think largely these are sort of pieces of political theater to some extent that from facebook's point of view to be managed to avoid really having to do that much to change it seems. the question is how do we bring these and real public scrutiny in terms of facebook having to account for the way they treat information the way they prioritize some things over others etc and i think these things need to become hugely more transparent and i think we're just at the beginning of working out how to how to get the right balance between holding these companies to account and allowing governments to interfere with them essentially and not on the other hand allowing governments too much power in the name of controlling facebook. the transparency that we require going forward absolutely has to include the algorithms because ultimately this is the central question what is being shown to who and for what reason and most

importantly given so much information or power over the decades and centuries in fact has been about making sure that things are left out of the story and the crucial thing is that there is you know initially transparency and then some sort of accountability in terms of the kind of algorithms that facebook is allowed to use. donald trump sold an investigation into his own investigators it seems now an independent inspector general is now set to look into whether the f.b.i. is twenty sixteen probe into alleged russian collusion was legal or not and is caleb maupin explains next it's starting to become difficult to find someone that hasn't been caught up in the huge wave of suspicion of real. 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 adult from 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 it 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 once 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 top spy john brennan the former cia director he was concerned about because of known russian efforts. trump called him a just screw. 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 documents. members of congress want him to be looked into basically what he has done is he is scuttled and put a cloud over his own investigation and he has become the subject basically he should be going let's forget it it's a real problem investigations are flying like bullets in a western shoot out 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. r.t. new york. palestinian foreign minister is calling for the international criminal court to launch an immediate investigation into recent violence on the gaza border last monday the israeli military shot dead scores of until capacious protesters in the open siege don't play it came as the u.s. completed the controversial relocation of its embassy to jerusalem the u.n. is also set to start its own probe into whether israel committed war crimes. the odds but not only are you going to be a little over the course that. the. earth.

does not know this. was. there. last week for you and civil rights council passed a resolution condemning israel's actions as wholly disproportionate and described it as an indiscriminate use of force britain fight was among fourteen countries which have staying and there are also reports tonight that british diplomats now plan to visit the new us embassy in jerusalem despite earlier condemning the. use of your kingdom is we don't agree with the decision of the us to to move their embassy we continue to think that that's the playing the role card of the wrong time but we remain absolutely committed to a two state solution u.k. foreign minister there are taught to former british ambassador peter ford he

accused britain of a poker see that in its foreign policy right now. the british government are being very feeble with this they made what seemed we could go to be a principled position by boycotting the ceremony marked the opening what's described as the american embassy in jerusalem but then days after it appears to be business as usual many people say oh this is hypocrisy let's imagine what the situation would be if russia for example recognized east jerusalem as the capital of palestine and set up or made it existing consul general in east jerusalem and empathy with the british position of being to continue doing business with it no way there would have been horrified exclamations legal arguments would have been found to justify the position of having nothing to do with the russian embassy

double standards. staff of germany's refugee agency being accused of illegally granting asylum to hundreds of migrants in some case taking cash bribes in exchange for it the agency called bamford's now told r.t. it's expanding an internal investigation into the claims scandal initially broke out in april with media reports of widespread bribery at the agency's office of bremen the federal migration agency says it now plans to review a further eight thousand five hundred approvals in nearly a dozen branches on top of some eighteen thousand cases in bremen it's thought around twelve hundred asylum claims were approved illegally between twenty thirteen and sixty one former official and five other employees are already being investigated over it. when professed wish to leave the applications don't meet the necessary criteria who will consider whether these decisions to grant asylum should be cancelled or will be also considering sanctions against certain employees of the

federal office for migration and refugees. because that was the head of germany's migration and refugee agency was also under investigation over whether or she knew anything about these problems its troubles like the same public confidence in the agency plummet with eighty percent of germans saying their trust has run out right now it sparked outrage to among some of the country's left wing politicians it is questionable whether the events in bremen were really the exception trust in the federal office for migration and refugees is shaken we won the office for migration and refugees to be able to work in accordance with the law starting now and not just a few years from now germany's migration agency points out there just because there's no on going investigation it says it doesn't necessarily mean that any wrongdoing has taken place political consultant political consultant rather writer ross has told us that the problem is long been known about but no action being taken till

recently. asylum seekers have said that they have paid one thousand euros to their lawyer and then they did not even have to show up in lehman and it's obvious that kleeman has taken asylum decisions far too hastily without making also security background checks this might only be the tip of the iceberg and many more similar cases may have occurred in other. dependencies the bomb itself is not the real problem what is the real scandal is that the detection of the problems has occurred already in twenty fourteen and nothing has been done by bombs by the former minister of interior. let's get some thoughts now on a top story for us a go by this the top story is just joined is that next month's planned historic summit between the u.s.

and north korea may be delayed or indeed might not even out lol according to donald trump his comment came during a meeting earlier with the south korean president in washington and let's go to washington kevin martin president of such a huge focus on the prevention of the nuclear threat is on the line from our studios there hey thanks for your time so the white house than the same preparations for the summit nonetheless are continuing so nothing to worry about then or not. i think there's always things to worry about when donald trump is in a fog of these very unpredictable i think what's important to focus on though is this is about their careers making peace that's really what we need to focus on and be supportive of and i'm hoping that the child administration understands that and i hope a summit will go forward on june twelfth but i've got too many vested interests in south korea and they the u.s. . i think there are a lot of vested interests on different sides but the koreas need to be allowed to make peace there's a saying that i heard it sort of broke my heart that korea is

a shrimp among whales and it's understandable with russia china japan other countries in the region that sometimes have dominated or taken precedence over korea but this is a really astonishing chance for a breakthrough to get the two countries back together again it won't happen overnight it won't happen quickly united states could play a supportive role i certainly hope and i think should play supportive role but last week showing him who is one of the special advisers to president james of south korea said that south korea would play an aggressive mediation role and i think that's what you see with president moon coming here to washington today and i hope they will continue to play that aggressive mediation role i guess that given everything that we've seen happening to in the gadhafi in libya you can see why north korea in the last couple days has been rattled by some of the woods coming out of the camp of the the trouble ministration no. very much so it was very unwise for john bolton but of course he doesn't believe in diplomacy he believes in

regime change and war all the time very unwise for him to talk about a libya model for north korea's denuclearization however there is one big difference factor in this which is china i think china it's mischaracterizes sort of they're the big brother they tell what north korea what it ought to do i don't think that's true however china has played i think a clever mediating and supporting role over time and in the end that china might be a guarantor of north korea's security libya didn't have that iraq didn't have that iran doesn't have that now so that is a factor that needs to be considered even though again the primacy is what do the people of north and south korea want to do china could be a very important factor here all right well what she would great interest of course was going to happen over the next couple of days especially the run up to june the twelfth and see what their homes and kevin mountain presidents of peace action focusing on prevention nuclear threat thanks be in line with us and international and thank you for watching today it's coming up to thirty in there we got ads to

hit the great programs coming up straight off to the break for me kevin mosco by. not a problem for me from her job on the track i'm probably that president. who. was. worried about her and her. friends i was. we've all gotten used to it the media hates trump and the president returns the favor in kind o. his this mutually charged hate fest changed media and journalism does the corporate liberal media report the news anymore and is journalists

a big profession in the service of partisanship. oh max kaiser and this is the kaiser it for ever opening lotus of perpetual knowledge hey 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 it 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 their living in his own private idaho roger very then c. and b. c. has a mom 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 so store of value everybody holdalls hotels hotels or hostels hoddle 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

stock exchange of the us 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 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 at those of them for a biography if i turned it upside down. 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 record 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 when he said that finance you blamed a 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 zooming 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 that 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 that said on the campaign trail which 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 just 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.