sounding better than miikka more brain to her. in a thousand as he did the muslims as a minister for the arts and while all. this in the past do a full us if we are heard ok you are holding the farm for example while doing the work with us and on which of mathematical mutual guile it will look. like some and some of the loss is first a lot of things on the lam but i get along with those who went to lowell i didn't see but i saw on the plane in the middle of it and then more telling for you. yesterday as by. every west look and a little. we are all appalled at the local human being thought on the school talking that there

was a key moment in. look i'm all grown up like mad and. bent on most valuable material models and all what i'm put up they need. except a lot of the little things. in the they can get a considerable docklands almost as if all of the all of us know must belong to some flesh just. give me a call where. those who are young upon the second law and feel of the union the they must well as squarely with gentle chrysalis quillan was obvious like it but i want him. to. have only one lurch of me just in case of a colossal. for me those thoughts i will stay in with this album enough. they were less but i said process you were listed like and

a lot of alaska things other seahorse number one the most thing but ok. but in the midst of it is that of a whole. thank. you for the first time for a moment and knowing as i mean all four k.m.'s at the most and only really there when you're convinced myself. thank. you seen the guild i work with them and feel really sorry must come out that i seem to see the king with just going over the real everest what is he you know rope with blood because i mean.

what self is saying hold on we'll it's one of those jobs back to america by imposing sarus to equalize the trade picture and move toward a post china extraction model you know where as private equity extracts wealth using lab or triads china's but extracting wealth using leverage trade shenanigans so this is just the reverse of that trump as i hear it in some people's voices starts to make a little bit more sense that people don't understand that this guy actually understands more than people i'm giving him credit for. across europe municipalities are taking their water supply back from private companies who p.m.a. to me to be about the cells with simple song alone even cycle niggas else with so they can find private companies to take over the utilities anybody else throw post

a lack solicitously got to buy them to promote be cool. i've been this is a stick with them out. for you not until bill if bill brought up locals are ready to stand up for the basic human rights of access to water it's about water but it's also over much more than war it's about to hurt and to redistribute should all or was to purchase their debt downwards do you want or will. he gave me any handy when there was a legal limit her he began giving

a legal team even like the good behavior of the movie of the year we just went to the with me when he. came in the. kneepads him heirloom d'antin the enmity quickly cannot make any out if i eat it he actually got that invoke he thought that i seek to eat by al norse not by this as a loss. to you that i disposed unless there's a lot of a. joystick us on this. list one do you have are you vandal and this was broadcast yahoo. in a someone in thong accidentally be that the two men did what board those in or say to real can. just i.

mean the mother the board you are the spit out make it emma get her out into the where go by will scam me be it all pose no make up and travel. the motor damp or. me call. him a homo math. as the number learns how well it does that the mother will start going see into a. good dad and it was done in the us a many cuss in me piling on uncountable me by the name that almost asked and the n.t. what. not to be. any. but uppal there's no.

set for ghetto complement to cut. missy in thought. the least they. will but even. they love for my age. if i get c.n.n. . or don't amble a.n.c. are. also those keep their money how i must go though without. knowing without. because i we almost kissed our most and nobody at the.

stem of money cando i would be lost. in the most status was tossed. to the bed is a locus of it in. the sand get with the big one of going out. why those back this duality up or going or that it's this. us. now and then the middle they lost quite the world as i bought them back their value of the man oh yes their.

family their one year of. and so it's a vacancy. so. the only one in the world and nobody i know yeah well are all. the way when did the vote get that i mean this image that i lack or that i loved being then the better this business that bad oh. oh oh yeah it was but see but it doesn't mean. that it's. a yes or no it's good to see even ample of social media what does he owe him even when i quote is that really on the money you have done most to give me. those. in the only way. the change is to be mostly working with the members and let them see any easter is a must but i've got a little break. and if he moves on will be there. sometime after what i think.

is a really dark and one thing. but with me as him because real. clear music to me in that i like in my poses and so you're. always your moment to moment come over other people's been last night. i'm going to move in this to look for something when we don't there's more to my stomach i just cup you. should i just go for a bus i will not put into yoko can help us on.

this is supporting this a cut of the. it is a puzzle what i mean i mean. when the set up like it's like well. it's a sort of a there's no not you. could also. because it's got this us it's in the water you are not obvious how they bought a. book

easily. keep let's. see. if you. feel. sleepy sleep. sleep sleep sleep. sleep sleep. sleep. sleep sleep sleep sleep sleep sleep if.

thank you. thank you thank would could thank you.

thank you thank. all you meant to blood meal of them which i just but oh please welcome to will pull both when i was shown the combatants only to call me and someone. to me and i jumped on the welcome to what i can. you.

and if he said that i didn't realize the full holiness that. is the past but that alone you call kelly an equal and that legitimacy just. kill all those in all

a game of a little bit and then there's a mass eighty six didn't you cause laterals a is that the end. little event i was going to. love god are no more i want to put all i wanted was sure i know what book called i don't like that book at all but i wanted a book that i wanted more so that's a later book well. a little.

thank you. just into these two members of the book you this is a good read you could also like you know see if you're from your money if you love this is it but i mean. if you must and the big one was and what i will listen to my money puzzles and that's all my will seem to mostly will suck to get.

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through. i. the world cup final with a one zero victory over belgium and st petersburg. a standoff is expected at wednesday's nato summit in brussels after donald trump accuses european countries of failing to pay their way in. and an alleged victim of a nerve gas poisoning in the u.k. regains consciousness but the main thing critical condition.

had to. stay with us now for the financial news but. as a report coming out. it makes you look at me a little bit so ho in london you know this. beard stuff growing yeah. i'm open to get some like is easy top you know yeah jairus a lot sort of look yeah joe was a lobster inspired me i'm going to grow a beard needs. it is the way to be a hipster but you know what we're going to talk about basically that's all that's left to be in america as a hipster if you are because there are no jobs there's no nothing really happening

there and of course trump is trying to make america great again so we're going to look at two headlines from wall street dot com wolf rector and he's looking at some the two state of the economy and the true state of some economic policies and trade policies going on including the terrorists which is shocking information that i had no idea about the first we're going to look at a company you and i will have known from growing out and that was toys r us which was a big successful company you know it just sold all these toys for children and it was very it was all over the place but then private equity bought it out and now the company insists no longer well this was in three days the last toys r us store is di m.p.e. firms behind it question mark well on june twenty ninth this remaining stores in the u.s. closed and then it's over for the iconic retailer one more victory for p. e. firms private equity there plowed into retail during the leveraged bio boom before

the financial crisis lowden the them up with debt and watched them collapse and what i have come to call the brick and mortar meltdown toys r us is just one of them p. e. firms kohlberg kravis and roberts vornado realty trust and bain capital acquired the publicly traded shares of tories are asked by a six point six billion dollar leveraged bio in two thousand and five they funded the act was just in large part by loading up their. wired company with debt hence leverage buyout and other words the p. e. firm had little skin in the game and over the years extracted four hundred million dollars in fees for themselves while the company collapsed yeah that's right it's the leveraged buyout. catastrophe shifts equity and power to people entering cravats of kohlberg kravis and roberts and that's been going on now for thirty years but not all p. e.

deals are terrible you know like dunkin donuts was taken over by p. e. and they've expanded the mole skin franchise was taken over i think burger king those are now in the hands of private equity so you know but most for the most part they extract the equity they extract and they leave the company to collapse all the jobs go missing is part of the repay shows all sure hyper squat unquote capitalist cancer that plagues america yeah but remember we discussed in the last episode the fact that the central banks and our governments continuously give these sort of guys all the capital of the free capital in order to repair the economy when what they end up doing over and over and over and over and over and over is this they just extract equity take hundreds of millions of dollars for themselves by another you know penthouse on park avenue and another place in the hamptons and another yacht perhaps they park over in larchmont or

merrimack or somewhere like that and that's what they do that's what they they don't build anything they don't add jobs they don't add value in fact in this case thirty over thirty thousand employees of the company gone no pension no nothing they get nothing no pay out they've gotten there were some employees that actually had worked for the company for thirty years this is how much they got zero zero dollars for their payout for leaving the company but the other important thing is that this is that like how we have structured our society. and it's so ingrained this vicious nasty equity extraction form of capitalism that where all these private equity firms get their money is mostly from our own pension funds well among the biggest investors in p. e. firms are public pension funds they provide about twenty percent of the three trillion dollars in assets managed by private equity firms public pension funds

like the accounting of investing in p. e. firms these investments are considered illiquid and long term and don't get marked to market this gives pension funds the illusion of stability during times of market turmoil and they don't mind the sky high fees and private equity firms love public pension funds because that's where the money is and the sky high fees is a symbiotic relationship so here we as a society we are taxes pay for those public pension funds we pay those employees the this upon a public pension fund manager then hands it all to a private equity firm who then destroys the economy around us thus destroying our ability even pay taxes so it's a stupid game let me just paying henry kravitz some money so that he doesn't shoot me in the head the private equity firms are gangsters and the pension funds that

could be campers out there in california other pension funds that. henry kravis goes them and say give us your money so that we can destroy toys r us all these other companies and destroy jobs we're going to blow your brains out and you're going to get nothing and they threaten them and that the predatory nature of markets are working today he has a nice suit but he is like i just saw a photo of someone pulling like a forty inch leech out of their nose you know henry kravitz is that leech off line that photo for like that's a very crabbed it seems that forty is a leech and the. knows of america but you can't pull him out these embedded and so much is about that illusion the illusion that the public pension funds like that they don't mind paying real wealth taken from pensioners give it to these guys in order to maintain the illusion that they're somehow doing a job that they are somehow actually. getting out eight nine percent annual returns

when they're not the illusion of so much of our economy when you drive across america as we have when the illusion is that nafta and all these trade deals have helped the american people but we drive across america to find out do this is like a disaster is known here and that is the next headline with wall street regarding these auto tariffs that trump wants to apply to europe and china and i thought ok the guy's deranged what is he doing but actually there's some support behind it according to what wall street says is beyond the hysteria about auto tariff get him . president obama's threat to impose tariffs of twenty percent or twenty five percent on auto components and vehicles imported to the u.s. is causing a bout of hysteria that is splattered all over the media but the fact is the e.u. imposes a ten percent tariff on all cars s.u.v.s compact s.u.v.s mansome pickups imported from the u.s. the u.s. only imposes a two and a half percent tariff on imported passenger cars s.u.v.s compact s.u.v.s advance

from the e.u. and a twenty five percent tariff on imported pickups which is a tiny share of the e.u. market again that's so the e.u. imposes ten percent on our cars that america ships to europe and we only impose a two and a half percent tariff on them. china imposes a twenty five percent tariff on all imported vehicles but offered to cut this to fifteen percent as a goodwill gesture and the trade war to get around the chinese tariffs and sell vehicle so the one point three billion chinese consumers all global automakers have invested billions of dollars in china has set up large manufacturing facilities and required joint ventures with often state controlled chinese companies and have submitted to the required technology transfers g.m. now makes and sells more vehicles in china than it does in the u.s. and this is what he says we need to do with china as extracted this wealth creation they've forced these companies start start creating wealth inside china through

their tariff system and this is what china is trying to do so well you know let's revisit the concept that we've discussed on the show many times prices are at wal-mart are cheap because people have given up their jobs to chinese manufacturers who can do the same thing for you know ninety eight percent cheaper and so the illusion is that the american lifestyles are falling apart because even though you're making a lot less you are getting the same stuff at a much reduced cost the illusion again you're right the illusion so now if the game . i'm of that particular trade nightmare and what trump is saying hold on let's move those jobs back to america by imposing tariffs to equalize the trade picture and move toward a post china extraction model you know where as private equity extracts wealth using leveraged buyouts china's but extracting wealth using leverage to.