this is the kaiser report hey did you know that kaiser report on espanyol the you tube channel gets more views than rachel maddow now that's right oh la. stacy actually i want to signal ahead of time that we're going to be doing some journeying south of the border we're going to be in argentina and uruguay brazil and a little bit in colombia in december. and will be filming down there you know argentina's currency just collapsed by over 25 percent in one day just last week and we're going to follow up on that we're going to report from the scene and find out there and early next year we're going to go to mexico city and we're also going to be in guatemala so we're doing our whole tour of latin america that's going to be exciting maybe to do some special side interviews coast into the you tube channel for our spanish speaking audience that loves us to death. has led us well

maybe not to death i don't you know in mexico that's not go there and the thing is you know of course that the mexicans and colombians and argentineans and earth lions they all kind of have their own dialect of a way of saying something so it's going to be very confusing for you but nevertheless we're going to stay here in america for these headlines in this episode of kaiser report human tragedy on the diseased streets of san francisco worse than slums in brazil and in of course you could tell you know we were recently in san francisco talking about our chattels that we did walk across the city well n.b.c. news has done a study and actually spent some time go through $153.00 blocks of san francisco and what they found was pretty appalling the n.b.c. bay area investigative unit surveyed a section of downtown san francisco to determine the amount of feces hypodermic needles and garbage littering the heart of the city the results reveal

a disgusting and potentially deadly mix of contamination that experts now believe could exceed some of the dirtiest slums in the world and. why they say that by the way is they talked to an infectious disease expert dr lee riley he's an infectious disease expert at the university of california berkeley in places like kenya and brazil at least in the slum dwellings there are often long term homes for families and so there is an attempt to make the surroundings more livable homeless communities in san francisco however often kicked out from one part of town and forced to relocate to another the result is extreme contamination or a human feces problem and some francisca it's quite prevalent but the whole city the matter where you are smells like human outhouse and it's not a nice smell yeah we're going to continue talking about this in the 2nd half of

charles who smith and he lives there actually in berkeley but he you know this sort of bigger picture of what it is actually telling us because it's very very important that you know we have this global social media and that social media is filled with virtue signalling and the virtue signaling is primarily coming from here in san francisco and so you're seeing that are one side is you see this great massive very loud signaling of their virtue and yet any you know buddy who goes there and sees on the streets you would say this is a city of people with no virtue really of the royal court of versailles you know so they had no toilet facilities there and the dukes and the aristocracy would just go behind a curtain in the middle of the ballroom and relieve themselves and leave a pile of human feces on the floor and of course of study but of course they were virtue signalling because they were monarchs and iris aristocrats so they felt like

well it stinks and it's awful but you know stuff to do with me i'm like i just came out from behind the curtain and in fact i was just squatting there and leaving that human feces on but don't don't look at me because i'm like aristocrat. so doesn't does not stop me right so it's virtuously so you have a new aristocracy in san francisco of stock market manipulators and central bank beneficiaries who are stinking to the place like the royal court of versailles in claiming not me these are also very the winners hillary clinton talked about these are the elite that we have they run our media they they control. at least the propaganda or perception that is spawn about the what america is so in los angeles and san francisco in new york for example they will say that the vast majority of americans between those 2 coasts are deplorable and part of the reason why they're deplorable is that say they're anti open borders and say let's bring in

everybody and yet here they are and they can't even take care of people right there in front of them who are forced to you know go through the indignity of using the street as a toilet rather than i don't know providing housing or providing some more housing because of course these are the nimby sort of people who don't want more housing in their area in order to keep their house prices up so there becomes at a certain point it just becomes a false economy the take everything is false fake news false economy and everything that's kind of the dissonance if they don't see the connection between almost take everyone's money let's bankrupt everybody let's make everyone homeless oh they're on the street duff a catering 00 jews 0 out of that up and they themselves are perhaps projecting when they say you people in the middle america are deplorable well anyway anybody from middle america who traveled to san francisco might say these conditions are

deplorable here well remember in 2008 goldman sachs was caught bagging bags of feces remember in the testimony they admitted the fact that they were selling bags of feces as a multi-billion dollar collateral. she's beyond you know so they're used to it yet that was in the testimony to say the senate about the cd owes the collateralized debt obligations that they sold to pension funds and in their internal communication they knew that it was garbage essentially that they were selling to pension funds that then went broke but in terms of this dr feces in the streets of san francisco. it's important to know that this can lead to airborne diseases if you do get stuck with these disposed needles you can get hiv hepatitis c. hepatitis b. and a variety of other viral diseases said dr lee riley an infectious disease expert at the university of california berkeley he warned that once fecal matter dries it can

become airborne releasing potentially dangerous viruses such as the road over iris if you happen to and hail that it can also go into your intestine the results can prove fatal especially in children so this is like the macabre situation that is emerging just so a few people can have on paper that their house price keeps going up if you have the situation where you might have you know you might inhale some dried fecal matter in and get sick and die but all the money that would be used to build infrastructure and to be society's only beneficial is been stolen to jack up house prices and the people who live in those houses are saying we have got nothing to do with those people dying on the streets even though they're the probably the ones who will be inhaling the dried fecal matter and dying soon enough when you're in san francisco there is. on the other hand a charm about it because there isn't much development there are no starbucks in

many areas of like north beach area of san francisco so there is still all the world sort of quality to it so they have kept out some development and that is has been good in one way but on the other hand if you're going to have this disaster that nobody wants to deal with them i think it might be. worse in the long run so i want to then turn to the other coast ok the east coast remember these are the winners there are not the deplorable. hillary sort of democrats will say. this is a tweet about an article from business insider scary. newark now has some of the highest levels of lead in drinking water in the country state records show lead levels a $52.00 parts per 1000000000 in newark this is more than 3 times the e.p.a. threshold and greater than that in flint michigan haven't we learned new jersey is

50 percent african-american flint michigan is 57 percent african-american they both have contaminated water lead in your water does. you know basically cause brain development to be slower in children so all these african-american children are basically being poisoned with lead and setting back their progress in to the future. and also note that the business insider story their headline reads a water crisis outside new york city has surpassed flint according to a pediatrician who helped uncover the flint disaster that's how they refer to newark new jersey it's a city outside new york city this is a very new york way to refer to any city is not new york city and i really like the

famous new yorker cover shows a new york and then the rest of the country portrayed as a vanishing wasteland ending up you know where there's the emerald city new york city that's the oz everything else is worthless but actually is kind of telling in what this whole winner and deplorable situation that we have in america and i think across europe too because our when we no longer have any fiscal trade or industrial policies we only have monetary policy so monetary policy always favors the cities and the cities that are closest to the money printer is new york city obviously is where the money printers are and we have essentially the same out of san francisco . you know where you have intellectual property and the copyright cartel is a way to print money and act as a tollbooth around the whole entire world so that's medieval that's made evil and so you have a situation where you have medieval diseases some of that are we haven't seen typhus outbreaks in quite some time and you know going back to medieval days you

had the church which is like the monetarist of present day 21st century where they would discuss how many angels can dance on the head of a pin they were in power and they imposed this feudal model and now we've got neo feudalism where you guys central bankers discussing how many derivatives can we stuff into a worthless pension fund and we've got folks in san francisco in newark new jersey dying from medieval diseases so this is neal feudalism this is the 21st century version of the dark ages and we've got the aristocracy pooping in the middle of the road and claiming a big amount of do with it read the life of chaucer and you'll see what the life for the ordinary peasant was very similar to what it is for people living in newark or flint michigan or those who are not wealthy and san francisco you know here showing you that lead in the water is very very harmful to the prospects of the children who are that you're literally ruining their brains and your disadvantage

in them greatly and here over in san francisco that children are also noted in this situation from n.b.c. news investigation where they found in 153 blocks they found $300.00 piles of feces in their journey around these $153.00 blocks and $100.00 drug paraphernalia but they during their investigation while they were walking around they came across a teacher walking all these little 3 year olds you know further their nursery school class having to walk down the street and the teacher explained yeah i have to teach the children not to go near it these things that are on the street these piles of feces and they talked to a 3 year old girl and b.c. . news named and now i read it she says the floor is dirty a 3 year old student at the preschool told us who i rightly explained having to navigate dirty conditions on her walks to school there is poop in there she exclaimed that makes me angry san francisco it is like literally the center of the global tech world and you have these sort of conditions as you say that are

medieval like what does that say about those people who live there the people who run that city going to dissidents they don't see any connection to the lord over these tech giants for being brainy in some way but they've created this mess behind them. later. i want to say quickly you know before we wrap up that it goes hand in hand with the 100 year bonds that the children are our future like we have no faith in our future like there is that's gone like there's no plan for the future there's all this bad debt that's dumped there these children have no hope with they're living in these medieval conditions and lead in their water that just shows real contempt for the future franco make a 1000000000 dollars start selling wrongful birth of sharon's all right we'll be back right after the break don't go away.

in this community there are people who believe that it's ok to sell fractional food on my table it's really hard there are no jobs and you see that i've got kids that ask and as a parent. i can come up with lots of arguments there's a lot of conflict in the game between the 2 most of the conflicts i would say over the homes around money and most of them money is made. us want to know the children because he knows each other is good because the state of california alone makes $6000000000.00 a year of prison complex just to get some point in your life where. you don't care anymore nobody cares about you so you don't care mind anything.

it's seemed wrong when old rolls just told. me you get to shape out this day and it comes to educate and in the game equals betrayal. when so many find themselves worlds apart. she still looks for common ground. new chick or phony. i'm a little. girl one. day

. i don't want or i can just let me as i knew she needed that little to get out of yeah i am kind of she. could feel that he had a chicken dad's going to be made to move out of one of the last young enough but otoh both were out of the. welcome back to the kaiser a fort imax keyser time out to go to charles hughes smith of of 2 minds dot com where you'll find is big ideas and brave thinking on economics and politics as latest book is called pathfinding our destiny charles who smith welcome back thank

you max it's always a pleasure let's talk about the good of the mind you recently coined this phrase what does it mean what are the signs of it well max i think that's my way of trying to describe the prison that the vast majority of of america seems to be caught up in and it's what we believe to be true based on what we're told is true and that narrative has so many holes that it's it's really an amazing moment in history that so many people are so deluded about economics and as well as politics and the global situation you know adam curtis is a documentary and in the u.k. we made a film called hyper normalisation about how in the soviet times lies just became a common currency and no one xpect that anyone to tell the truth at any time it

seems like america is heading into a similar period charles absolutely and that is a very interesting documentary that fits right into this concept and so what what seems to be happening is that the narrative is being pushed harder and harder to levels that it becomes more outlandish and more absurd. and more unbelievable and yet the pressure on and anybody who does since who says well i'm not so sure that's true let's let's look at that then you're immediately marginalized vilified and be monetized what is virtue signalling and why is it everywhere what's the true. in many of the styles my understanding of it is instead of actually solving problems or proposing policies that deal with than difficult conflicts that we have it's just a way of glossing that over by saying i'm more virtuous than you are because i'm saying these virtuous things like celebrate diversity and so on and what

the problem with virtue signaling is we have a broken economic and financial system and that's going to start impacting our real world lives very shortly and then already has under the surface for many americans and so we have to start dealing with problems and just saying well i'm very i'm a virtuous because i say virtuous things in public that's not solving any problems that i noticed people with bumper stickers on their cars that they co-exist or persist tend to be the worst drivers i think that's not going to sample the virtue signaling. the actions aren't deplorable to use it to coin a phrase anyway so san francisco is the home of virtue sailing apparently and yet it has on its streets what is called a quote human tragedy human feces and needles everywhere is there no greater demonstration of this virtue or signaling than what we see in san francisco charles

here in san francisco tell us about it well yes i'm in a i'm in the people's republic of berkeley. which sadly has now become more or less a corporate version of the old people's republic of berkeley and everything is so expensive here it's very similar to san francisco that only the wealthy or people with wealthy parents who are subsidizing their lifestyle can live here and there are the solutions are pathetic and just you know the solutions are well let's build more public housing and we need like say 100000 units and we. can build like $1200.00 because each unit cost $400000.00 all right so just an affirmation sensor there on the ground is it is there is this true do is our human face is everywhere and needles and everything or is a hyper by piper believe this is true there are a lot of neighborhoods with those problems but if you are in the tourist areas of

san francisco then all of that. human tragedy is kept to a low boil in other words it's stuff is cleaned up around the big hotels and the big shopping malls and so on but if you go out into the neighborhoods then you're going to see that in here in berkeley i mean there's a homeless encampment a block away from our little. abode here in central berkeley and there's various homeless encampment surrounding the city's you know trying to deal with it by putting porta potties out there and so on but they're they're here and they're permanent aliza surprised to hear that this problem is now reaching into areas like orange county california famous people living there behind the so-called orange curtain you know it was a bastion of a certain class now they can't seem to get a scape all their virtue signalling has not stopped us from encroaching on their on

their on their homes our so across the much of the fia world charles we see an infinite regress into morphy out in right all the fia currencies refer to other fia karsies and we even see this kind of extending into other areas like the company beyond to meet this company sells 2 fake meat which many nutrients a nutritional also tell you is a toxic nightmare but it trades at a higher stock market valuation then real companies right so the fake and the phony are overtaking the real your thoughts we can look to what's happening in the financial system for some dynamic some explanation of. of why beyond meeting that kind of. essentially worthless companies are valued in the billions is the central banks have pushed interest rates to 0 and now in many places in a negative interest. right where they you're actually it's costing you money to put your cash in a bank. well this means the system is completely broken because capital is

close to rate you know yield a return is supposed to earn a return and so now capital can earn a return and certainly not a safe return so it's being pushed into extremely speculative markets and what happens when all the capital is pushed into speculation you get bubbles then central banks have to support the and keep inflating the bubbles because if the bubble pops the whole financial system goes down the tubes and so we see all this money sloshing around going into absurd companies like the on meet and and it's the bubble is increasing but it's going to pop it someday because you created a system that's inherently unstable to the roman empire collapsed as did the spanish and british empires the people living there seem fine today is the loss of empire something to fear or should we welcome it that's an and very interesting question that no one's ever asked me before and i think if we look at

the long cycles of history we see that it when the empire 1st collapses it they can it collapse rather abruptly like rome the western roman empire did or it can kind of decay over time like this vanish and british empires and if you have a decay phase people can adjust over time right to a lower standard of living less income less trade and so on. but if it's an abrupt change which is more likely here in america. when the financial system does break then people are really going to go through. a tremendous psychic shock as well as an economic shock because their their standard of living is going to fall precipitously and they're not in most people are not prepared for that eventuality well let's talk about some local politics in your area and your yang here. somebody

that i identified a long time ago as being a potential dark horse in this race and he's got his universal basic income idea $1000.00 a month what are your thoughts on andrew yang and u b i charles i think andrew yang is about the i've said before he seems to be one of the few if perhaps only candidate who who actually seems to understand that the economy is changing at fundamental levels in other words the 4th industrial revolution the automation of white collar jobs instead of just blue collar jobs and so on and so he's proposing u.b.i. as the sort of band-aid for this. as as you as you and stacy have discussed in the past my my objection to u.b.i. is not the idea of giving people money so much but that our communities are falling apart and so we actually would be better off paying people to do something useful and productive in their communities so in other words it would be like

a mass of. program like f.d.r. did. to put money to work it was jobs people building highways people building stuff. what what sense thing about the u.b.i. concept though is that andrew young being an entrepreneur it seems like it's taking the approach of america as enterprise and that everyone in america gets their dividend he had a monthly dividend and he's going to restructure the economy away from money losers like the military and put that money to work in our enterprise dividend portfolio as americans so in all in all incentivize all of america to work you know in a different way but anyway that's my thought let's ask about something else or so talking about this this economy that's roughly in the global economy now 15 trillion dollars of these negative interest rate bonds. you know in my view it's no difference between a negative interest rate and a default you know that those 2 things are power of passu as as we used to say on

wall street what's your take on negative rate bonds are got about a minute i think you're absolutely right max that it's it's see either or choice that there's no way to support the mountain of debt that the world economy now has without lowering interest rates and negative rates of course are designed to push everybody to spend whatever money they have to keep. this. kind of bogus debt based economy afloat right and so that's the obvious incent even that's what all the central bankers talk about we need to push people out of savings and let them make them spend every dime they have and of course that again is is. undermining the basis of capitalism which is you take savings from income and you invest it in future growth of productivity which should be broad based which as you say is andrew yang's idea let's broaden the base of capital you know in instead of

low. like letting it become more and more concentrated in the hands of the few but to have negative interest rates means the system's broken this is like the last gasp fair enough charles who smith thanks for being on the kaiser report thank you all right well that's going to do it for this edition of the cause report me max kaiser and stacy i would want to thank our very special guest charles who spent all of 2 mines dot com if you want to reach us on twitter it's kaiser reports on lifetime. cash calendar is downright alfonzo among his die and that's changing page he's dard. his 1st

words were i was here a child the post you got 2 years to live. i have no doubt that what happened was scriven. the sense concentrate market is a $1000000000.00 industry these companies how does huge financial motivation to sow these products there are numerous stocks showing that doctors were keen to chest x. ray concentrates for insights of its own that patients want gives them doctors the wrong choice to play. current stuff why they would keep me from secure those who use day to day and people still die and i'm always question or so i write being hard to live when so many have.

been your. worlds one step away from an arms race that can be controlled that's the stark warning coming from russia at the un security council following the recent u.s. cruise missile tests and the collapse of a landmark by enough troops of. little trump councils a state visit to denmark off the call in remarks by its prime minister the nasty she'd rejected his offer to buy greenland adding the proposal was absurd. and aid organization oxfam lashes out at the g 7 countries ahead of the summit this weekend but accuses the policies of driving global inequality. equality how to bridge the increased over the last year and the well.