civil war in the african nation of south sudan claims close to four hundred thousand lives according to a u.s. funded report. the struggle between empathy and law unfolds in italy as a pro refugee mare is placed under house arrest for allegedly helping illegal immigrants . and the people's republic of jam jar a prominent conservative party politician in the u.k. is under fire after making that insensitive quip about libya. with the legend himself my colleague you know neal takes over the reins in about an hour's time with a full rundown of today's stories right now though it is the latest financial buzz

on the. i'm asked as or this is the kaiser report i never stop to consider how dirty the word saliva sounds. max the audience is and know what you're talking about but they'll know what i'm talking about i'm going to talk about zombies i have a lot of zombie fixation in my head i love zombies this is a course and the entertainment industry has reflected the society around it in terms of having all of these zombie films well. the rise of the zombie corporations percentage keeps increasing b i s explains why zombie firms are on the rise and survive longer this is according to the bank for

international settlements the central bank of central banks and by zombie firms they mean that firms that are unable to cover debt servicing costs from current profits over an extended period and they now say that globally the number of zombie firms is over twelve percent in the u.s. it's approaching fifteen percent of all firms cannot meet current debt cost from current profit to discomfort from zombie banks to have a zombie bank plague as spilled over to zombie corporations what is a zombie bank is on the bank is a bank that's technically insolvent it's kept alive by a shot of heroin before leaving his car the first time he overdosed on the job in two thousand and thirteen ahead of a junior construction site a coworker who is cousins only injected a dose of nor can an opioid antidote into solid his leg he woke up and went

straight back to work the second time in two thousand and fourteen his cousin revived him again and after resting for an hour in his car sullivan was back on the job his boss told him not to let that happen again but within a month sullivan had again overdosed on the jobsite this time another worker called nine one one after a few hours in the hospital he went back to work so i mean here you have a guy shooting up heroin going to the construction job overdoses inject with narcan pops up goes back to the job like it's rinse and repeat the same part he's part of the economy which is receiving injections of cash to hide the pain of an economy that doesn't prove useful wealth anymore and merely extracts wealth. so make sense a busy guy a bricklayer a construction building the foundations of that everything you see around you would

also be the thing all right so you begin that by saying that no man is an island so the implication there being that the plight of this brick layer jimmy heroin addict is mirrored on every part of society and in ever greater organizational. paradigms of society so this one individual is. sparing seeing a hellish life due to design this occasion and opiated cation of the american economy but so too are the people of his family and his community in the wider community and probably in his state and now of the united states of america layers as employers are living in this just in time opiate addict is a minimum wage hell scape brought on by easy money like easy blood into the veins of the. ever increasing as vampire population of the zombie population and the cure is staring us right the face of course the obvious

cure is you need to make financial fraud more expenses by raising interest rates aggressively to weed out the crooks would be the obvious solution paul volcker knows that but he's not running the fennimore we now have enablers we have dr frankenstein running the set we have them pirates running the central banks we have jamie dimon in charge lloyd blankfein these are the these are the vampires of last resort they're the deepest foul lists dank just. so. we don't see any of these conversations anymore in america we used to have on television back in the sixty's and seventy's we said deeper conversations what our society should be what sort of economy should we have part of this situation here is. construction workers have the highest the highest death rate of opioid overdose

on the job the second most concentrated the only other industry that has more opioid addicts is the entertainment industry according to this chart but they are to this data but construction workers what happens is they lose their job if they're not on the job you know it's a vicious you know you have. to show up at the job and a lot of them it's obviously very labor intensive you're using hammers and nails it's dangerous that they have a lot of medical issues of pain so they've got to get on the job they take that opioid to get on to the job because it's the only way to get through the pain and you know maybe the conversation should be had of you know ok there's on the one hand you need to feed. in a stock markets and you need the revenue pushing the opioids but on the other hand like we also need to discuss like is there a better way to how this should workers have some workers comp should they have a day off should they have a week off or two weeks off and said to make recover from the pain should they not

be threatened with losing their job because they have this pain and like maybe there are other conversations that can be had but we don't have those conversations because it's all shrieking and it's all crazy to just do the authority that the economy like we're drivers there resident last five years and i cut in half that's actually ever having drivers who are left are earning less than half of what they did four years ago study finds a study by j.p. morgan by the way the biggest zombie of all the banks the biggest derivatives book of all the banks so it's leave it to me q.e. so really it appears the optics are they may be tightening but they're not really tightening the language is that we're tightening and yet that debt number keeps going higher and higher so as you point out it's all optics on the bank of international settlements which is the central bank of central bank report that fifteen percent of all u.s. corporations are zombie firms on the able to cover their debt servicing costs from the current profits your thoughts on what's happening here well i think we're living in a land of you. made it by humans are still flicks we don't understand. so

the problem with wall street right now is you go to many people borrowing the same crew treats the e.t.f. trade is a guru true you know it's like a roots more to get in but there's no way that when syrian regime speed. don't understand valuations i mean you've got some ridiculously priced stocks lately i think we've got a couple charts here going to church of him isn't that you can take a look at amazon is a true in dollar company but they don't make any sort of profit which is necessary if you're going to maintain that kind of valuation so anybody who's buying amazon the most crowded trade in the world last year you know i think that's going to end very very badly i mean there's you know a look at the hours on start but let's talk about another company we've mentioned before tesla so the thing about tesla met in a air on wall street i used to work on wall street for many heirs they seem very lax about the rules particularly regarding the f.c.c.

the securities and exchange commission so when iran mosque the c.e.o. of tesla says something like i'm thinking about taking myself private and funding as a place we i think in the old days used to get what's called a wells notice right i mean the f.c.c. comes after this to be illegal to do that stuff right that well we're talking about securities fraud and is the one most guilty of securities fraud yes she is lead force it i'm not sure now you know it's it's a classic what are the set up signs for classic. you've got like you go corporates look at a chart you've got corporates and investors selling and millennial is buying stock the problem is you can't really tell what the finances of tesla are and they've never made a profit they've got around eleven billion dollars in debt they've got to increase their debt even more the company is hemorrhaging money it's burning its cash is hotter and spacex jeff you so it's impossible really tell you know months came out

and so the funny thing is secured he had no funding you're just trying to burn the shorts basically that's market manipulation in my book i don't know why people are buying the stock it's probably one of the best shorts on the planet and over three hundred bucks a share i mean our man. on. ponzi scheme message that you could start when are you certain to be buying it four hundred twenty dollars a share and i think around three ninety five hundred men really had to admit it was a lie you know sure the shares collapsed but you know i think that is the there is a small time window compared to what's out there now and if there are a lot of bigger problems if you look at true corporate debt it's somewhere neighborhood of seven trillion dollars in the united states and i did around forty five trillion of those bonds have to be refinanced within the next five years right so that's a good point in that whatever you think iran must is doing if it's illegal or not

it's in the context of a entire global market that is korea plan upon seeing gaves then much bigger frogs than follow all the central banks and trillions of dollars so he's a small fish it's just a forty fifty billion dollar bezel whereas a very central banks are involved in much bigger scams now at the same time the bloomberg consumer confidence comfort in the acts now at its highest level says january of two thousand and one so consumers same happy man their wealth effect has kicked any of our stocks are higher property markets higher people feel wealthy they're confident they're buying stuff what's going on there well look this is this is around we know it was sustained by reckless central bank policies around will united the. japan you know why o.b.e.'s generally use more buying whole bonds now you've got a european central bank run by mario drug use every school in sacks wine all were

bonds in the european market. that are highly rated supposedly and the government on your spending inordinate amount of money trying to prop up us more supporting more it's in keeping interest rates artificially low the problem is italy has four trillion dollars in some debt. the banks are shutting up so the banks are largely insolvent and need to be recapitalized it was a huge problem and it could be the real the fall of the car that makes you crash to the debt in the european union is supersized and i don't see a group solution to that story here it's going to be a bit of a pro all right well they got this idea of the zombie banks that were kept afloat by the central banks because they didn't want to have to have any problems with their friends in the banks but this is bleed it into corporate zombies they have corporate zombies they can't meet their interest payments they are relying on on

bailouts as well and so it describing there is this kind of contagion if you will of insolvency that's spreading where they with a kind of a hidden under a rising stock price of the stock prices are going higher through stock repurchase programs and through the use of as funny money as being printed so on the surface it looks like things are good donald trump will point the stock market and say see things are going great but underneath the surface there is a plague of insolvent say and that insolvency bubble when pricked should be pretty catastrophic and you're saying that it only that i mean that is who is it is a seventeen trillion dollar piece the global economy so. how are the banks and the aig doing like dyke's your bank and these other banks i can't imagine that. saying they're doing very well let's look imagine the amazon before being a trillion dollar company apple is now a telling dollar company as well that u.s. dollars not zimbabwe dollars and that remember back in the dotcom boom we had cisco

was going to be the first trillion dollar company before it flamed out of famously ninety percent crash where is this going it is amazon and these companies going to two trillion or is there going to be a flame out well you touched upon something that's interesting no i think it'll definitely be a flameout i think amazon netflix are two of the biggest flames that don't make money that will flame out and test must go to jail but what's happening is a lot of these companies are issuing tons of debt either corporate debt or the raising finance in other methods and what they're using it for is financialization they're not using it to create products so what they're doing with the stock buybacks is they're cannibalizing future earnings and paying off the c.e.o. suite then never ends well in history never had and were seen as most pronounced right now where we see inflation is been exploited by the west so although we're

seeing this huge meet in the us where it's really impact and is where all the speculative cash ran and u.s. markets interests are hurting emerging markets like turkey urgent teener result mexico and venezuela now remember turkey's debt is dollar denominated a lot of it so their currency has dropped about thirty percent this year and their economy has gone down the tank same with argentina brazil and mexico so their dollar denominated debt is forty percent move they have forty percent more debt now yet their g.d.p. and production can't support even the debt service that they have and as interest rates go up we're going to see a change or default which is beneath the dominoes the fall so i don't know if that so emergent emerging markets will need this i don't know if the e.u. will need. or a crisis in china because china has a big problem with all that debt china has that is a big break on china but let's look at the central banks again and continue on the same cell to kid the zombie banks going made by the debt of the zombie banks to

talk about mad drag a talk about the talk about the central banks and fighting about it by trillions of dollars or trillions of euro's and there's another trend though which is pernicious an ugly and disgusting and that is central banks buy stocks out of the swiss national bank is the biggest honor one of the biggest owners of apple stock the japanese central bank spent buying stock on the japanese market to keep it floating and now they had a the federal reserve bank here in the u.s. is talking about when the next crisis hits they're going to start buying stock in the open market met your thoughts well you know this is this is a big problem central bank should be doing ninety percent of what we're doing right but we. got economic charlatans and we'll hear that are going to run us back into a ditch and then when they create a problem you go to the same guys you know it's like einstein senate. insanity is doing the same thing over and over and expecting to get

a do you know different result obviously the results are going to be the same but we need to do is think out of the box and get different people to try to change the program you know we have too much debt too much credit levers because the crisis right now we've got more debt more credit more leverage than we had back in two thousand and eight why was anybody think it's going to end or it's going to end catastrophic student loans are at an all time high the fault rate is an all time high it's closer closing you know two trillion dollars right so we've got that we've got a record credit card debt that's the only thing that sustaining this robbery rate and you know the show buyback programs are ridiculous max you mentioned it yourself so you know if you have a hundred shares and you're a dollar a share you're right that's one hundred dollars and heard that if you buy. shares may seem hundred dollars you just don't know your what to do you really don't we are in productivity that's always financialization and there's a lot of the magic smoke and mirrors that we see going on. all of the rest of it

it's just you know we won't digress mess because really got a few seconds on fact i'm going to say thanks for being on the kaiser partisan against an american it's well all right great well i'm going to do it for this edition of the kaiser report with me max kaiser states here and i think our guest misfires stein planted ponce if you want to catch us on twitter of course is kaiser report until next time iow. you know world of big partisan movies. 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 smart we need to stop slamming the door on the back and shouting

past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now we're watching closely watching the hawks. this is gaza's current status it's one of the most overpopulated places on earth and on the brink of collapse. with troops forces in two thousand and five but still keep some news on that with air ground and sea blockades it's also under economic sanctions is often described as an open air prison.

locals elected hamas as their leaders here they don't believe that israel should exist so naturally both saw its regularly bomb each other israel tends to send a warning leaflets before strike but locals mostly stay put many countries classify hamas as a terrorist organization and the queues them of putting people at risk. schools and mosques or by encouraging them to join protests. camargue. not. going.

to. be on saturdays there is often a funeral here the whole village comes out to pay their respects to another kate has died at the protest this or that abigail sorry as some are turning on you oh yeah one of the enough nor am i in the lunar new yes miss my mom and my mom was on the yes and the cloud is that mel will just watch award and then that's not the bottom of the. next and the full can never been done before so i knew clodhopper my must you know new clubs. wouldn't be ideal for such a muslim may require fear that moves that gadhafi are. still telling stories tell you everyone that can hold out hope for libya. comes from how much i love you maybe you have the million muslims to me it was a small pile of quantity of bottled water.