and that's eighteenth he is the only person the only company sorry i know they have personhood now the only company from which you could buy telephone or internet services from if they are the only ones as long as their prices stay low that's fine so what is now happening is that people are starting to realize that it's more than just prices i mean after all facebook's services are free you don't have to pay a single dime for them nevertheless how about the power they are able to exert not only on our politics and our culture but also they prevent innovation from ever happening and that is that important to capital society these are the questions we should at be asking or is it like the neo liberal trick where they just point to one thing as we did this many contracts or that you know we got your price lower but is of prizes in other words sounds great well elizabeth warren assange and it's currently going to get a lot of attention but it means higher prices ok so the do people when it comes

time to vote and you're like ok i want to pay more for everything do i really am i going to vote for that and the answer is no you won't get public backing for this idea number one number two the what you're describing there are lower prices and appeasing vote is voters through lower prices this is socialism this is what we see in countries with like let's say venezuela the gas there is very cheap it's very very cheap but this little market price for gas right there is like people don't pay a market price for getting stuff on amazon they don't pay a market price for getting information on the internet because it's socialism because you don't have any competition in the system anymore if elizabeth warren were interested in really architecting the economy so that it has a fairer distribution of both risk an opportunity she would say get rid of the current socialist system run by central banks that are manipulating the price of money let's bring in actual competition free markets and we'll have a much better economy we have alleged free market. health care system in america in

fact what you will find is there isn't much competition in in many states because remember we everything is organized by states here so the insurance has you know blue cross blue shield has everything in north carolina ok they're the only ones with obamacare but we have the most expensive health care in the world and yet the socialist systems of europe asia pretty much the best the world has a socialist health care system universal health care and their prices are much much cheaper so here we have the most expensive prices in the world and partly it's because of anti-trust and in fact all largely because of antitrust so we have the worst of all worlds because we have so-called free market whatever the market can bear whatever you the chum on obamacare can bear they'll charge you that insulin prices some insulin prices just rose tenfold for example in the past month was that a free market is that the an abuse of all of gospelly and monopolies that control

these prices ok so in europe you have quote unquote socialism and an example would be health care and health care is cheaper that's big but they're not purely socialist countries the rights of private property in these countries is respected for example but what you do have is the government is competing in the marketplace for stuff like health care and as a result the government's customers that is the citizens end up with the lowest price so it's it's neither pure socialism pure capitalism but when it comes to work or elizabeth warren who is saying that you want to break up with a monopolist that's fantastic we love it teddy roosevelt did it and don't trump should do it it is to look at ever happen but when people go to the voting booth are they going to be like oh everything just went up twenty percent of my going to vote for the thing so a lot of people who voted for the notion of make america great again. they are unemployed and unemployable partly because of the monopolies reigning through

agriculture manufacturing all sorts of industries because there are no where at the lowest level in i think in our modern history of entrepreneurship in america small business formation and the reason is because of monopolies you have those dollar stores sweeping through the poor areas displacing huge amounts of jobs so at a certain point the conversation once it is had that is the issue other than crisis report no outlet is talking about antitrust as an issue and that is what business insider is recognizing they think elizabeth warren is a very very long shot to ever even get nominated for the democratic nomination to be the candidate to run against trump but nevertheless as they point out is to just hearing about these stories remember when microsoft happened they point out

a similar thing happened with microsoft antitrust trial two decades ago when the government first started scrutinizing the software giant it was among the most respected and loved companies of the public at large but the revelations from the trial about its ruthless business practices particularly the share arrogance and distain that then c.e.o. bill gates displayed in his testimony in the case helped sour the public perception of the company and bill gates had to step down soon after that because he performed so badly in congress and looked like a jerk the same thing happened after the financial crash of one nine hundred twenty nine when we had those the commissions and when j.p. morgan himself had to testify and when they found when the public at large found that he actually paid no taxes and how how much wealthy had they turned against him so our congress doesn't do this where have all these hoax sort of investing. commissions and it's all about bread and circus sort of stuff and therefore unlike

m s n b c and fox also present clown shows and they don't talk about anything but if they are forced to talk about it they are forced to talk about what a.b.c. talks about and so those sort of ideas are then heard in some of the minds out there listening to or seeking any information beyond a concho then microsoft is a good example and at the time there was then an alternative to the microsoft products called a linux which was a revolution in software and open source software it's free software and that more than anything else put the kybosh on microsoft for a couple of decades and of course they've come back pretty strong recently but without an alternative to an amazon or these other monopolist in the system who own the platform and own there's ownership of the platform is getting tighter their monopoly powers are getting more egregious and more and more promethea and

there won't be any escape from it so i think was elizabeth warren she would do well by figuring out what the alternative would be somebody should sit her down in teacher about open source software for example what that means if she could become ill she should get lawrence lessig who is now in washington d.c. should sit down with elizabeth warren and give her a crash course on copyright and open source technology and then she'd be a powerful politician so even obama is then adopted he loved he loved monopoly he loved concentration of power warren buffett the beloved ukulele playing resistance hero sort of billionaire who so cuddly and we all love him because he says the right things and he certainly virtues he signals that he has the right virtues but they he himself his investment philosophy is in concentration and monopoly if they have monopoly pricing he and that. and that so the whole culture has moved that way

and it's called that because of the university of chicago the chicago school this was it was first in the fifty's and sixty's who were pushing for it were the likes of milton friedman more of the chicago school looking for monopolies they like dictators in latin america and they like concentration of power in us you know capitalism but instead of you in concentrations of corporate power in a dim light federal regulators generally came to view them favorably rather than worrying about the effects of such power on competition in particular markets or other problems related to corporate concentration they started focusing on just one aspect of price in general they worried only about enforcing antitrust laws if a company used its market power to raise prices on consumers are likely to do so that warren buffett you know he's an opportunist in the those well by a shareholders it's up to the government to step in and be a player in the economy not just an enabler for a monopolist you know the government should be competing for health care and drug prices they should be competing in transportation and education and they should

offer an alternative people should be able to get a public utility bank for example account and get out of the matrix of the big wall street banks they don't have that option they should have that option and therefore you would restore some competition in the economy the government and regulators should remain neutral and they don't because they find warren buffett credibly built tens of billions of dollars worth of value to his name and they find him you know cuddly and sweet and powerful so they they like him and they don't want him to harm his business so you are harmed in the long run if you're if they're just distracting you with the price and like we're going to lower the price of milk by ten cents and yet we're going to lower your wages by thirty percent so i think we need to carry this over to another segment because we're just getting into. the heart of some juicy discussion now don't go away stay right there.

think about someone they bought they are what they cost. for your. home up there and i don't think i want to. justify something awful because a couple of. you just got me. the christmas spirit the ok sign you know what you know full well for you if they think you know how to. say the most efficient account you want to know their phone your thoughts get on faith nothing nothing nothing wrong but now that you know way out of your fucking head so

what if i don't want to fill the united be so. i've been saying the numbers mean something they've mastered us with over one trillion dollars in debt more than ten white collar crime families each day. eighty five percent of global wealth you long to be old rich eight point six percent world market rose thirty percent some with four hundred to five hundred three per second per second and if we rose to twenty thousand dollars. china's building two point one billion dollars ai industrial park but don't let the numbers overwhelm. the only number you need to remember one one business showed you know ford the mid one . you know only in books.

the days of you it has become as rap has become a top forty eight on this day in the a.j.c. view it gives it not take is that one thing is to leave e.j. c.p.u. it is but more big news for you don because you give three. daughters to do even the boards. through on friday oh oh oh oh dear it's crazy oh. we've been a real good shot to begin murders controls all life. becomes are in the last community young people are deciding if they want to be not like their parents not like ten liberals. always struggle school again you always have problems but you're not going to

focus and walk is the most ubiquitous going out there most police departments use it almost over stores in the school that they could get their hands on cumbersome twenty four hours. through it teach nice kids a bio racism about police brutality taking pride in them being all these kids are all a part of all history. welcome back to the kaiser report i'm max kaiser stacy herbert the scott saying the intricacies of american economics as envisioned by the likes of elizabeth warren and other candidates were all vying for the. privilege of serving our country as president of the united states yes ok well elizabeth warren i will say she has

about a one percent chance of being the nominee for the democratic party i want to point out that what we are talking about is the fact however that she changed she she basically was compete every all democratic candidates for the nomination for the democratic candidate for president all of them are competing with a o.c. who can you know alexandra cortez who cannot even run for president but she is sucking in the attention of every single camera every single media outlet in america so you have to say something and do something and present something and offer a policy that is as radical as that of a money and what the millennial is want the millennial prove this in the last election they didn't want to hillary's bland same as always status quo neo liberal neo con monopoly loving sort of warren buffett sort of capitalism so part of it is because most people in america have always worked for small and

medium sized enterprises especially when you're younger you're you know when you're in your teens and twenty's you're working for small businesses how many small businesses like a rubber stamp factory and magic shops to do work for when you were a young guy right those businesses no longer exist all these all young people can work for is a mcdonald's is a huge change shop that is now owned by a private equity and being destabilized so let's look at some of the numbers for example of what has happened in the united states in the decline in entrepreneurship and the business formation which is so important to any capitalist system monopoly power in the decline of small business united states is much less a nation of entrepreneurs than it was just a generation ago small independent businesses have declined sharply in both numbers and market share across many sector. as of the economy between one thousand nine hundred seven and two thousand and twelve the number of small manufacturers fell by more than seventy thousand local retailers saw their ranks diminished by about one

hundred eight thousand and the number of community banks and credit unions dropped by half from about twenty six thousand to thirteen thousand at the same time starting a new business appears to have become harder than ever the number of startups launched annually has fallen by nearly half since the one nine hundred seventy s. and part of it is you know the media the economists the chicago school were very good at going on all media left wing media right wing media they were out there pushing their ideas part of it was the baby boomers who were the biggest generation and got to vote you know whatever they voted happened because they were the biggest voting bloc and they make sense. as well as as adam smith warned that if you're the beneficiary if you're going to pull up the drawbridge right that baby boomers are going to pull up the drawbridge to competition to their own

businesses that they had formed back in the seventy's and they don't want anybody else competing so now you have all these licenses required to get into any businesses and regulations and paperwork ok i mean i think elizabeth warren is sincere i think she is honestly running for president i don't think it's just a stunt ok so she believes she's got a shot at it and she believes that this message of breaking up monopolies is a good one and that i have tension that is a sound statement of sound properties it makes sense and. what i said in the first half i think that for her to gain traction in this discussion she would do well by sitting down with lawrence lessig over there in washington d.c. and get a crash course in open source and copyright what's happening in copyright because copyright is the kind of the mother of all

a monopolist problems in america. patents and copyright you need to reform patents and copyrights first and then you can reform all of the monopolies that are contingent upon patents and copyrights that's the mother of all lawyers lawsuit is the probably the most informed genius of politics in america today he he moved from the patent copyright arena to d.c. to try to bring something constructive to d.c. he is a resource that any one of the democratic party should have veil themselves and understand what he's talking about and you will see if you can go into the debates i mean the debates the presidential debates will come up they'll they'll be trump and if you can come into that arena. well being completely knowledgeable about what lawrence lessig understands about copyright and patents in america and how it works in the economy you have a chance everything else is going to be easily swatted down as being anti-american large lessig move from the electronic frontier foundation and and research and

copyright and patent abuse and he realized that all his work came to nothing because washington was so corrupt and that these patent and copyright abusers own and our politicians so there was no way. to do anything until he went to d.c. and broke up the corruption drain the swamp essential out of this issue is free speech in other words. with perpetual copyright which is what we have essentially in america all speech is corporate owned you know we're heading to a situation where you know microsoft wall e-mails to say you use the word microsoft or an e-mail and that's a trademark placed on his five sons and this specially with the block chain and crypto currencies they'll be able to go down the path of micro transactions and the type of collections so we're heading to it and then of course with the i mean i don't want to some like we're heading into

a digression that is perhaps beyond the reach of some of the audience but with satellite technology and five j. and this new ability to read minds if you think about the word microsoft you'll end up getting a bill for five cents for using a trademarked word i mean this is this is five years away now actually it's happening right now in japan if you read the news max go google it japan and shoplifting they already have technology that they're viewing people in the shop and they know if you're about to shoplift so they arrested so i asked five gene satellite technology and you've got copyright and patent issues that are going to mean that you know i mean that it goes down a rabbit hole and i would go down there reza. no and i really were talking about elizabeth warren so yeah again have you and i even on kaiser report talked about elizabeth warren knowing she entered the race months ago but here she's introduced actually a new concept that has not been discussed since teddy roosevelt it has only been

george bush when he came into power that's when. microsoft got found as an antitrust trust finds and they had to break up some of their product lines but it was never he never discussed it on the trail it wasn't part of the presidential debates or policy debates nobody talks about it because who opened the gateway to this would be. open to. a way. you know donald trump said to the american electorate there are no shibboleths there is nothing sacred ground we can talk about anything and you know says now taken that to next level and then we're left with warner saying ok i got to get in the game here and she's attacking monopolies again this crosses right left red team blue team republican democrat there are many republicans against trusts these huge monopolies especially

when you look at the fact that many conservatives get d. platforms and therefore they're not allowed to voice in the public arena then we have the huge you know part of the whole medicare for all dr is really the the ultimate cause of it is all of the monopolies in the healthcare sector and they the hospitals get to charge whatever they want they could do the drive by doctor thing and charge you tens of thousands of dollars we have the internet monopolies the provision of broadband across the united states basically if you look at the map almost the most choice you have is in a few cities the winning cities that are the place that hillary said they're winners and that's because they have like new york it's san francisco you have multiple options for for. insurance a and for broadband out must much of the rest of the company arse are basically abused by monopolies and all sectors whether it's hospitals health care. or telecoms so here you know if you look at america compared

to europe where the government in europe. the european regulators they've forced there's so much competition and broadband provision and telecom mobile telephone provision there's so much competition it's like a third of the price of what it is here and way faster way better than anything you have here and if you're going to compete in a globalized new economy world you've got to you've got to break up these trust so it's it's a good thing that this is going to be discussed and maybe it will be part of the actual presidential debates and not just the primary debate right if our democrat running for president i would be pro competition the pro public domain so in other words i would quintuple the size of the public parks i would revitalize nasa i would have free internet space is available everywhere public domain needs to be expanded that's the measure of a successful society how big is your public domain our freezer for a speech that's what

a society should be judged upon and then. to converse of the when you have competition you have when you look up elizabeth should be competitive capitalism a shouldn't be subsidized capitalism giving visa v the central banks free money to the most corrupt so under obama we saw a concentration of power in banking because remember in two thousand and eight we had the financial crisis and one of the discussions at the time was that we need to break up these big banks instead they got bigger they go away bigger so that instead of elizabeth warren or any of the other candidates going we need to taxis guys more we need to point out that the reason why they have so much wealth is because of their monopoly position and their abuse of the competition and their access to free money you don't need to present it as a like a socialist thing we need to take money to redistribute their wealth now their ill gotten gains we need to change the way we treat them in our regulatory system

because you the ordinary joe cannot steal money like they can you cannot get free access to the cash. you cannot destroy your competition you have to compete out there in the marketplace unlike them yet raising tax rates is meaningless because your adjusted rate is what matters it doesn't matter if the tax rates forty fifty sixty or seventy percent you're just did rate if you are somebody like jeff bezos of let's say for example your adjusted rates going to be between zero and ten percent no matter what the marginal rate is old it's x. pays eleven percent right now that's not going to change and you know when i was working on wall street we should we sold tons and tons of that tax shelters two for one right off three for one right us we were selling chinchilla form partnerships to take advantage of a loophole in the farming bill to get even more than three to one write offs ok that's not the just come back reagan got rid of those and that was part of the reagan initiative but they'll just come back right and that'll be the next wave of scandal will be tax shelter scandal so the adjusted rates would matter but don't even go down that path go flat rate across all everything fifty percent then have

real competition and then have public domain expand the public domain then you have great country well you know we're out of time sadly because we're just having a lot of fun but thanks for watching this has been the kaiser report with me max kaiser and stacy herbert want to catch us on twitter. keyser report until next time . seventy four design submissions. seven thousand islands. to join judges. and eight hundred sixty nonstop days of. the russian w.b. . and

a russian. show you how. long the crimea bridge was built. witnessed the construction moving you need to transport. that will help downs of crimea. most of those you know while google more familiar with it a bit but. the infinite was not built for security so we have to take it to a different level and we have to take the new fill you do this five g. level when you can embed security security is an industry and the security has all they need to expose the fears and all they can devise is so that people get freight and they get they should know we have to come up with a new infrastructure for this is very important to start thinking of this me about the new tools to build a new system. and

what they are what their cost. for you. to come from up there and i don't think i want to. pick up because a couple of i don't. see any easy got honey. locust spirit the ok sign you know what you know full well for you i think. you want to go there from. the get on thing now for nothing. but now that in a way out of fear of looking. for this oil one i still hope of a night on ac. three

hundred to princeton old mr remember there was most of my family were unemployed working. there wasn't it was bed you know much worse subjectively than today but there was an expectation that things were going to get better. there was a real sense of hopefulness. there isn't today today's america where shaped by the ten principles of concentration of wealth and power. reduced democracy attack solo doubt engineer elections manufacture consent and other principle holds according to no on. one set of rules for the rich opposite set of rules for. that's what happens when you put her into the. narrow sector of will switch rule is dedicated to increasing power for chills just as you'd expect one of the

most influential intellectuals of our time speaks about the modern civilization of america. violent clashes plumes of tear gas and fire smog the scene through weekend of the yellow vests protests in france all report that was caught up in the middle of. this is the eighteenth consecutive week fifty feet it's a step. yes it is really really intense. the death toll in the terrorist attack in new zealand has risen to fifty people with the man accused of shooting people in two mosques now.