monopolies are alive and well in the platform stocks like amazon and facebook others that dominate the space yes so those are all the big online social media platforms they're all doing well and they're they've been soaring in the nasdaq is that a new high the last time we saw it this high was back in two thousand and two thousand right when the dot com bubble crashed last one now is this sustainable is this not well wolf street dot com they look at it and you know wolf richter over there does a lot of analysis of the housing market of the auto market of stock markets of bond markets and he says you know he looks at what's overvalued what's not and he gives some reasons for it so it's a good sign we've interviewed him many times but his article here on these dot com shares and there are soaring valuations in the soaring stock market he's got an interesting explanation for this huge new prop under the stock market is

a one time affair crash insurance with an expiration date but it's working while it lasts in may with great and perfectly orchestrated fanfare u.s. corporations announced plans to buy back one hundred seventy three point six billion dollars of their own shares sometime in the future it was the largest monthly buyback announcement ever and some of the announcements were expertly timed to overcome operational debacle so again he's looking at their actual results and he sees a lot of operational deficiencies there that would normally impact the stock price but they've timed the share buybacks to have huge announcements biggest ever one hundred seventy three billion that were announced a may now one hundred billion is from apple alone but they as he points out have not even finished apple corp has not even finished doing their last announced share buyback so whether or not this will ever materialize is another thing. but

a lot of this has to do with this repatriation of all their overseas allegedly overseas funds well the problem is by way of analogy if i had a convenience store that saw lots of stuff in the store and my revenues that i reported at the end of the year were based on my self buying the stuff in my own store so at the end of the year i said i bought all the toilet paper and i bought all the twinkies and i bought all the anti-freeze and i bought all the twizzlers and i bought all the beef jerky as i bought all that stuff and i booked huge revenues ok that's great i should be worth a lot of money because of all the revenues that i have created by buying back all the stuff in my store you should be in the government if you know that's what happens if you're buying back your own stock you know not creating any earnings well the last episode you were talking about the collapse of the soviet union and the united states would not be far behind that of course sounds like a soviet model a communist model is that just buying back your own stock now what steve jobs have done this i mean would he be buying back one hundred billion couldn't he find

a better use for one hundred billion dollars if it's one hundred billion dollars buying back your stock share great your shareholders are very happy but are you know is the future. does that future look bright if you can't find anything to spend it on creating short term gains at the expense of a longer term growth especially so you know some of vesting in the defeater and products and employees you're taking all of future revenues if you're booking it today just like the mint is buying back all the stuff in his own store yes he bought back all of a stuff in his store and he has a lot of revenue but now his store is empty and he has nothing to sell so the next quarter he says my sales are zero because i have nothing in the store to sell i bought it all myself so similarly with apple they'll buy back all their stock they want to invest in the future and when it comes time to reporter earnings in or two from now they'll have nothing to report well i'm going to get into why this is basically just

a blip because of the tax legislation that passed but you know as you were describing it buying back your shares it's a lot like what the private equity model we've seen across retail sector we saw toys r us just go bankrupt to shutting down hundreds the stores are having liquidation sales everywhere and they were driven out of business intentionally really by private equity firm that bought it with their own assets the assets the stock value of toys r us and then give themselves four hundred million dollars the whole company class people that were working there for thirty three years get zero these guys who came in for a few months destroyed it and then you know now it's left as a carcass and that is essentially what apple is doing at the end of the day it's might be a longer term and there might be some fancy products in the meantime but wall street says about the tax how the tax legislation the new law has basically incentivize the share buybacks he says the no trim tabs provided as to why the share buybacks are suddenly blowing off the charts is key the corporate tax law has

changed concerning the repatriation of overseas cash that represents many years of untaxed profits and vested mostly in u.s. treasuries and corporate bonds this quote unquote repatriation is a one time affair why. these limited so called overseas cash has been repatriated and spent on share buybacks dividends and executive bonus is gone and then what these immensely overvalued shares will then have to find real buyers but for now companies are selling their treasuries corporate bonds which have taken a beating recently and are using the proceeds while they last to buy back their own shares at historically overvalued prices right you mentioned leveraged buyouts there so instead of a company doing a leveraged buyout on buying another company they're doing a leveraged buyout of themselves they borrow lots of money and they buy back their own stock and they're taking themselves private and they're taking the entire s. and p. five hundred private and the people who are left will be private equity stock owners to run the economy without any participation at all from the general public who

already owns less than twenty percent of the stock market owned by the average mom and pop out there will drop down to less than one percent and then you know what's the new road to serfdom this is the new road to the american serfdom yeah and in terms of toys they're asked by the way go in bankruptcy last week and liquidating you know new jersey politicians where they were shutting down operations were like oh you know this is this is horrible and we this is not capitalism but that is what we have always or often go bankrupt that's like saying a man that was shot in the chest got in the way of a bullet that happened flying in that direction they did not go bankrupt there was a concerted effort by a private equity to load the company full of debt in exchange for cash that cash went on to the books of the private equity group the debt stayed on toys r us is unsustainable debt and it was a manufactured collapse just like a mafia don will bankrupt a restaurant or something of that nature by having them take on

a lot of debt for the insurance money here they're taking on a lot of debt for the equity extraction that was engineered by the private equity firm this is mafia economics who's on the other side of that somebody had known them that money again the loans the money and if ever the. bank can't meet the obligations of their own books they go to federal government for another bailout it's called keeping interest rates at zero percent if interest rates around more than one zero percent there would be no money for these mafia like leveraged buyouts in the stock repurchases if interest rates are going high in the short term in the cost of fraud and the cross of terrorism goes up then they'll be less obvious as i've been saying for years the way to stop financial terrorism is to reduce the cost of financial terrorism raise interest rates but johnny and now this new guy powell are in the business of enabling financial terrorists and that's america is the american. so we'll fix your calls the stock buybacks crash insurance but with an expiration date obviously that once

a repatriate all this overseas cash then it's going to melt down but the fact is also on top of this it's been announced in the last week or two all these corporations member at first i think as kind of a quid pro quo to the art of the deal maker. they announce all these like we're going to give everybody a thousand dollar bonus while we ourselves click billions and botha's is our personally the heads of these corporations but we're going to give a thousand dollar bonus or we're going to increase pay this is what they said as a result of the tax law but if you see they actually announced that he got it of course this big got overlooked because trump didn't call attention to it and the media only covers what trump points to in a tweet that day so the fact is they announced the no more jobs no more increases in pay no more bonuses and in fact they'll probably start cutting jobs and cutting salaries there's no plan to cut to increase wages over the next year despite the

fact that their tax rate is now a fraction half of what it was last year john d. rockefeller used to walk down the street handing out dimes there is donald trump in an up thousand. bills which accounting for inflation how the purchasing power of a diamond back and johnny rockefeller's day were proximately yes but he called a lot of attention via his tweets to those thousand dollar bonuses that a few companies gave but it was only a tiny percentage of their gains that they had from the tax cuts and now of course trump is not calling attention to the fact that they're now going to start cutting wages and probably kong back that thousand dollars they gave you in order to keep the population sedated about their own benefit from the tax cuts missed those days the war bonds you know they used to get americans had buy really old junk bonds you know to finance world war two the least they had some good rah rah go kill the

enemy type films of hollywood and it was a wonderful life and it had. frank capra movies i'm a member of that america norman rockwell now you people fornicating the turkey on thanksgiving dinner and stabbing santa claus in the back and they call that america mother's day celebrated by unix castrating themselves in the middle of times square they air does america no more well we'll be back after this short break with more don't go away. from my home to the single boy tonight.

on the list that i didn't get showed up to move this because of a mess and i'm going to be out to ensure. my last. is not so much of a. positive as a constant as it was a few months. i . want a loved one is murder it's natural to seek the death penalty for the murder i would prefer it be in the death penalty just because i think that's the fair thing the right thing research shows that for every nine executions one convict is found

innocent the idea that we were executing innocent people was terrifying lose just know really the present and that we want even many victims' families want the death penalty to be abolished. the death penalty here is because that's what murder victims' families want that's going to give them peace that's going to give them justice and we come in and say. not quite enough we've been through this this isn't the way. to. go back to the guys or for imax guys or you're feeling sleepy if falling asleep is not sure where you are now defenseless against the truth fail be hearing for the

next few minutes. well including you think it inc. stacey was going i thought you were going to say we're still on the demented times square that you were talking about but instead we're going to talk about some basically social media because we're continuing on with this facebook and twitter and all that stuff you know we've been covering the fact that there was a hash tag delete facebook that didn't work in fact it just drew attention to the existence of facebook to the few people in the world that didn't hear about it and apparently they signed up but there have been some more revelations from facebook that they actually it was just one group you know the cambridge analytic and that they gave our private data to they were giving it to everybody they were giving it to apple they were giving it to all sorts of people and now kim dotcom asked snowden a songe to help create secure social media platform this is the headline from r.t. and they're talking about the tweets coming out from kim dot com over there new

zealand i would like to invite top security experts like julian assange snowden and members of the c.c.c. that's a chaos computer club to join together in creating a secure social media platform that will replace the deep state conspirators facebook and twitter after years of betrayal it's time for something better or wow all right so facebook in other words there was a restriction about who could just access their data right and they were they were giving it to everybody no matter what like the you know one of those find out about this of the gas station there's like a would wall with holes in it and guys just go up there and they say they're violated anonymously through this blank wall and there's just holes in there there's all kinds of you know shenanigans going on and under-aged minions and so there's facebook there's mark zuckerberg he's the guy in the gas station on the other side of that hole in the wall just anything that comes through that wall he goes and he goes for it he goes for anything that comes in there totally

nondiscriminatory big small cancer. whose interests you doesn't care he goes for mark zuckerberg these are polyglot well i did just travel across the united states with you and stephen baldwin a whole bunch of other people we did stop at a lot of gas stations i'm glad there's a ladies room at all these because not this in congressional testimony a lot of these house of representatives recalled doing this in their testimony right i forget the guy's name but he was one of these guys well of course mark zuckerberg in testimony did say that you own your private data your private data on our site facebook you own it not us while they were actually selling it so i don't know how much money he made from this or the the corporation but if he saying you know his own testimony to congress unless he was lying under oath you're owed that money he was selling your data so you deserve that money he had no right to sell your private property through a son his own test through but nevertheless you know my answer to kim dotcom is

dude we're already doing this we're working on mines dot com that's on the block chain there are other alternatives out there already to twitter and facebook and they exist now and you could join us kim join our revolution you know why doesn't kim dot com join the sidelines dot com exactly you know r.t. is an account there i don't account there i do too. well i don't know i don't think of this conversation you know it's called the kaiser report so i call the cam dot com stacey or i'm a reporter is it ok i'm going to count their minds to have come to you get paid to post your content ok and isn't blocked chain so that's on a book chain you can't censor it and they don't sell your data your data ok no to mine stuff come you know i did start an account there i have my own account minds i com c.n.n. but we have kaiser where we have max keiser but i basically am trying to. maximize

their i am our skies or i'm sovereign so i am trying to give up twitter i already gave it face. but december twenty fourth was the last time i was ever on that december twenty fourth two thousand and seventeen my last tweet was on june first twenty eighteen and it's this is my last tweet scientists have jumped the shark your body has a second brain in your scientists. well you know they always when somebody has passed away or died or your last tweet you can't quit twitter it's impossible i don't know why you're talking like that but i'm trying to give up twitter and that's what i'm going to try and let's see but if if if i were to pass way in the meantime that's going to be the last thing that i that they point to smart technology it's not just you know analog assad just dumb smart it's got its own brain exactly so you know why i can tell you why that is actually because the fetus develops from the anus first because that's what makes article so i mean i actually read i really knew about that because you know evacuating the materials as

a fetus is developing of course is quite important any developer here where we are there are thousands of omens going on you've got to build all the pipelines and all the stuff to evaluate sue is going to happen first that's where the fetus develops first and then everything else comes after that so that's why it's so laden with neurological concentration is practically the brain like qualities people out of people have a gut instinct they're actually thinking with the cheeks of their well anyway so we're going to look at facebook as well another story because member they bought what's app and what's app has encrypted and and technology allegedly right and so they have encrypted end to end technology and when they bought the company for billions of dollars twenty two billion dollars and twenty fourteen mark zuckerberg promised that it was going to stay that way that they were going to stay pure in their no ads on it well in fact facebook is going to start having ads in your whatsapp and importantly targeted ads meaning that it they'll keep on saying it's

and encrypt ssion but somehow there's somebody in there an algorithm. looking at what you're talking about because they're they know where you are they know what your likes are they know what you're talking about in order to target the as few so here as from félix salmon and slate dot com there is no justification for what mark zuckerberg did to what's app the wall street journal published a bombshell story last week about what reporters kirstin grind and deeper so far men called the messy expensive split between facebook what's apps founders by the time you finish the wall street journal piece only two options seem possible either zuckerberg is a liar or he's a liar with absolutely no concept of the sunk cost fallacy when facebook bought what's out for twenty two billion dollars in two thousand and fourteen the company's rolled out a very clear messaging campaign based around what's out motto of no ads no games no gimmicks the messaging service would be owned by facebook and facebook could continue to make as much money as that one from ads on its own platform facebook

but what's app would retain its purity of products in revision roll out end to end encryption so we're going to talk about how the founders of whatsapp were supposed to stay on how they stayed on just through the rest of this year instead of quitting as they have done i mean they one left nine hundred million on the table the other left four hundred million by leaving early because of what zuckerberg is doing so matter of character marks on her birthday started facebook by stealing information from harbor you know they had their yearbook information that he stole is a thief and then e copied a site called rate my face i believe it was called it's time to create a site called my facebook or know the facebook and then it became popular on campus and then he went right to santo roland for cisco and raise a bunch of venture money and sold out to goldman sachs the genesis of it all though was that he had been stiffed by some chick on the harvard campus he couldn't get

a date so he expressed his anger by still breaking into the database and stealing information and then crane this gigantic enormous behave this of a violation upsetting surveillance state. gargantuan software. and then it's all because of his character this is a very low character has no moral character well it probably ok but felix salmon says he doesn't know if it's if it's him or sheryl sandberg somebody is advising them to basically betray their agreement with the two founders now the two founders of whatsapp in their agreement with zuckerberg with facebook did install it basically a clause saying that if you start to use ads we can basically sue you and what we could leave without penalty but it turns out that there was actually another clause hidden in there that they didn't quite know your whole other idea from the winklevoss twins ok yeah there's no evil character and now he's destroying this

entire industry ok so what's happened is an easy acquisition for because the two apps have very different founding principles jan koum one of the co-founders who grew up in ukraine believes deeply in privacy zuckerberg thinks that the more open and connected we are the happier we will become and so in order to acquire what's abse i could not only had to pay a lot of money and give up a board seat to coom he also had to make a lot of promises some of those promises were even enshrined in the acquisition agreement if facebook imposed quote monetization and mr divs like advertising onto whatsapp its founders shares would vest immediately and they could leave without suffering any kind of financial penalty now zuckerberg may be an immoral corrupt but these two founders left without collecting money because there was another cause and their wish that they had to sue to get that money to so they've just left over a billion dollars on the table because they disagree was a calculation that was made at the time of the signing because they were able to

still take on twenty twenty one billion dollars apiece so to leave a nine hundred billion millionaire on the table is a jump change is meaningless if they knew that they were getting in bed with the flea ridden pig and then the. they knew that this day was going to happen they knew that from the day one that this day was going they left they they had to leave because they found out that facebook was what facebook is and everybody said this would happen google of course also removed from their own charter that don't be evil so now they've admitted basically that they can't abide by their own basically principles that they said they were operating by so he's saying that it's a sunk cost fallacy that. is thinking he needs to put ads on to whatsapp given how much facebook paid for whatsapp doesn't have a right to get a return on its investment the answer to that question is simple no it doesn't this is where the sunk cost fallacy comes in it doesn't matter anymore how much money facebook paid for what's out all that is water under the bridge zuckerberg wants to

aggressively monetize what's app installing ads between every other text message it is within his rights to do that regardless of how much the acquisition cost was but the acquisition cost poses zero current burden on facebook that requires the imposition of advertising all because dr burke is paranoid this is a correlation with the wealth that happens and most people that become wealthy they become increasingly more paranoid and so mark zuckerberg is worth forty fifty billion dollars his paranoia is now william randolph hearst like levels of maniacal megalo michael psychosis so i wouldn't expect expect him now to act out in some unbelievably he has the right to be paranoid apparently you saw what he was doing in the bathroom across america you know everyone's got to start somewhere he was on a journey across america planting the seeds of his presidential campaign planting the seeds of his presidential campaign is a good way to put it that's a great way to stay servers commenting on mark zuckerberg c various gas stations

across america well that's going to do it for this edition of the kaiser report with me max kaiser who's also on mines dot com and stacy herbert and if you want to catch us. on twitter well maybe not stacy because she quit twitter but kaiser reports on twitter and i suppose i'll be somebody tweeting i'm not the probably be stacey all to me i'm there for a cause or for on twitter i only found x. guys on twitter because i'm a narcissist so i can see what i say next time. etc

see. you know world is a big part of the lot and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we

need to be smarter we need to stop slamming the door on the shouting past each other it's time for critical thinking it's time to fight for the middle. the truth the time is now from washington close for watching the hawks. get a phone no i don't have the what was the last time that you went on the internet no i'm not used to meet these village is it safe to say. are you sure there is no music ters there and they are all going to be sure bill the baby does a class of his that has been. ongoing for dorman only four. is dead as part of that was

a good. bit more work i was. previously yes and no they are being false form in where you mislead member of the society. let's have. them. tell us stein is getting international recognition with the help of israel at least in the world of zeus the middle fish sticks mission to do it living for you like you know. this isn't my cup of tea is going up local study hall meeting later today or you know chalk it up just over the shit the only palestinians it gets the most hopeful is jerusalem counterparts i don't think there's a lot of those who in the world under the oak vision could not only could do this.

and not fizzle off if not as to how to display any of the most of the jihad i know if you continue in the doesn't seem to do more camillus also hurt them piss off. i think it's trying to imagine i say things just to be controversial and you would not withstand the level of attacks of police harassment of detention of having my passport taken of social services being called on my children my family being under threat of having to jihad his plot to behead me in nov twenty seventh i don't believe you would withstand those levels of people trying to trying to silence you if you didn't believe what you said.

eight years in the making of the twenty eight world cup in russia here the biggest event to football kicks off moscow just a matter of hours from now. i . found her across the globe have been out in force already in the russian capital reveling in the festive atmosphere. away from the for just one other world news story the un condemns israel's actions during clashes on the gaza border that left over one hundred twenty palestinians dead.