tv Keiser Report RT October 31, 2019 4:30pm-5:31pm EDT
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every thursday on the alec simon show and i'll be speaking to guest in the world of politics every thursday on the alec simon show and i'll be speaking to guest on the world of politics school or business i'm showbusiness i'll see you then. score business i'm show business i'll see you then. max kaiser. max kaiser this is the
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kaiser report the show you love i know you do this is the kaiser report the show you love i know you do yes stacie yes it's important to watch just say oh and we're going to show you some how yes stacie yes it's important to watch just say oh and we're going to show you some headlines why it's so important to watch us because if you watch the mainstream news if you listen lines why it's so important to watch us because if you watch the mainstream news if you listen to the corporate propaganda you might be on the wrong side of many trades now max keiser to the corporate propaganda you might be on the wrong side of many trades now max kaiser you were involved in the dot com bubble back in the ninety's and what happened during the you were involved in the dot com bubble back in the ninety's and what happened during the dot com bubble a lot of people lost a lot of wealth 5 trillion and wealth right and it was the dot com bubble a lot of people lost a lot of wealth 5 trillion and wealth right and it was the shoeshine boy the
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classic shoeshine boy moment well today the shoeshine boy the classic shoeshine boy moment well today as we see the likes of we work collapse and we see down big time we see lift as we see the likes of we work collapse and we see down big time we see lift down big time and peloton and all these other so-called software companies write down big time and peloton and all these other so-called software companies are a well those are being hit but it's called the not com bubble well those are being hit but it's call. the not com bubble is popping the unicorn massacre unfolding today is exactly the opposite is popping the unicorn massacre unfolding today is exactly the opposite of what happened in 2000 it is easy to look at today's crop of thinking i.p.o. sit of what happened in 2000 it is easy to look at today's crop of thinking i.p.o.'s like
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a lift in peloton or scuttled public offerings like we work and see it is like a lift in peloton or scuttled public offerings like we work and see an eerie resemblance to the dot com bubble that popped in 2000 both then and now consumer eerie resemblance to the dot com bubble that popped in 2000 both then and now consumer tech companies spent lavishly on advertising and struggle to find a path to profit both their tech companies spent lavishly on advertising and struggle to find a path to profit both then and now companies that bragged about their ability to change the world it is suddenly that they were actually running and now companies that bragged about their ability to change the world it is suddenly that they were actually running out of money both then and now the valuations of once heralded tech enterprises were haves out of money both then and now the valuations of once heralded tech enterprises were haves in matters of weeks both then and now there were widespread sense of euphoria curling into matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed down with the
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realisation that thousands of workers and once promising firms were to soberness washed down with the realisation that thousands of workers and once promising firms were poised to lose their jobs that's right we are having another poised to lose their job that's right we are having another turn of the cycle a lot of it us to do with the fact that so much money was raised in the venture capital or turn of the cycle a lot of it us to do with the fact that so much money was raised in the venture capital markets to avoid going public and having a dot com replay a lot of these markets to avoid going public and having. dot com replay a lot of these companies raised a lot of money in the venture capital want to before it ever reached the pulp companies raised a lot of money in the venture capital want to before it ever reached the public market so in the case away work they achieved something like a $48000000000.00 market so in the case away work they achieved something like a $48000000000.00 valuation before even going public and during that time this is
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what's remarkable to me they way before even going public and during that time this is what's remarkable to me during the dot com bubble there was a lot of problems with c.e.o. during the dot com bubble there was a lot of problems with c.e.o.'s and insiders dumping stock right after the i.p.o. there should be a lot of those and insiders dumping stock right after the i.p.o. there should be a lockup period to force people keep people to stay on for at least 6 mock up period to force people keep people to stay on for at least 6 months or a year to make sure this thing gets out of the gate it without too many problems or a year to make sure this thing gets out of the gate it without too many problems here in this era of the we work being a primary example the firms here in this era of the we work being a primary example the founder insider was able to dump almost a $1000000000.00 b.
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founder an insider was able to dump almost a $1000000000.00 before the i.p.o. to the sophisticated money not to the dumb money he had anymore the i.p.o. to the sophisticated money not to the dumb money he had he was dumping it on multibillion air is the venture capital committed he was dumping it on multibillion erris the venture capital community which had grown up on this in the last 1015 years on this unique winner the which had grown up on. in the last 1015 years on this unicorn mentality that they were but similar that they were all sworn mentality that they were but it's similar that they were all so feeding on the same delusion and they had prophets early on in the feeding on the same delusion and they had prophets early on in a couple of big big winners that they were recycling so you recycling kind of
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a house mumble of big big winners that they were recycling so you're recycling kind of the house money as it goes in the valuations keep going higher and higher but their money as it goes in the valuations keep going higher and higher but they're defectively the same but they're not publicly traded but it will the question is will it have a defectively the same but they're not publicly traded but it will the question is will it have a contagion effect will this spillover into a wider stock market phenomena and therefore a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic phenomena it is having the impact in silicon valley that house prices are falling wider economic phenomena it is having the impact in silicon valley that house prices are falling rapidly because a lot of people were hoping to you know buy properties that they could afford rapidly because a lot of people were hoping to you know buy properties that they could afford if
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there were there where we. were is where is where somewhere is something think so. they're there this guy is calling it the not com bubble not the dot com bubble because this guy is calling it the not com bubble not the dot com bubble because in fact a lot of these companies are just masquerading as tech companies has in fact a lot of these companies are just masquerading as tech companies they're not actually tech companies we work it's not a tech company it's the same they're not actually tech companies we. work is not a tech company it's the same old fashioned commercial real estate lending and leasing sort of old fashioned commercial real estate lending and leasing sort of thing that's been going on as a boring industry that's been around for hundreds of years and a sort of thing that's been going on is a boring industry that's been around for hundreds of years and it's the same
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industry but it's just been was branded as some sort of high tech same industry but it's just been was branded as some sort of high tech software company where you can get big multiples so why is calling and not com is because the office where a company where you can get big multiples so why is calling and not com is because the ordinary investor is way smarter right now than the v.c. funds because ordinary investor is way smarter right now than the v.c. funds because when the web browser netscape went public aug 9th 1905 the day met when the web browser netscape went public august 9th 1905 the day many cite as the beginning of the dot com bubble its stock skyrocketed from $28.00 to the site to the beginning of the dot com bubble its stock skyrocketed from $28.00 to $75.00 in a matter of hours even though the company was not profitable and to $75.00 in a matter of hours even though the company was not profitable and today's market the
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opposite is happening unicorns with no positive earnings are getting slaughtered at the day's market the opposite is happening unicorns with no positive earnings are getting slaughtered at the gates we were expel you ation fell more than 80 percent pre i.p.o. when investigates we were expel you ation fell more than 80 percent pre i.p.o. when investors balked at its mounting losses peloton lift and goober have also struggled to persuasion as balked at its mounting losses peloton lift and goober have also struggled to persuade public markets to grade them on a curve also their stock prices fall on the day of the public option public markets to grade them on a curve also the. stock prices fall on the day of the public offering institutions and retail investors are refusing to fork over 2 unicorns the valve institutions and retail investors are refusing to fork over to unicorns the valuations that private investors were expecting particularly soft bank a mill you ations that private investors were expecting particularly soft bank a major backer of a lift and we work this isn't
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a picture of mass meaning backer of a lift and we work this isn't a picture of mass media it's a picture of public so brian where the masses are diagnosing an acute it's a picture of public so brian where the masses are diagnosing an acute fever in private markets bring that back to the opening statement where i said this because you fever in private markets i bring that back to the opening statement where i said this because you watch kaiser report we've been covering this we've been i remember misfire science showing charts and watch kaiser report we've been covering this we've been i remember misfire science showing charts and saying when we were still in london 3 or 4 years ago saying that a lift in the saying when we were still in london 3 or 4 years ago saying that lift and these companies were not worth that that they were ponzi schemes and that one day they were trying to dump it on the public companies were not worth that that they were a ponzi schemes and that one day they would try to dump it on the public markets so
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i think this is also part of that censorship d. platform gets so i think this is also part of that censorship d. platforming sort of thing that we see is like the the corporate media doesn't have conforming sort of thing that we see is like the the corporate media doesn't have control over the dummies you know the dumb money that used to be called the dumb money the average troll over the dummies you know the dumb money that used to be called the dumb money the average ordinary investor out there that is used to dump the private investor ordinary investor out there that is used to. dump that private investor money onto the dot com phenomenon if you're going back to that era you know it was tech money onto the dot com phenomenon if you're going back to that era you know it was technology software problem technology driven where you did knowledge a software problem technology driven where the pitch would be
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a we're going to do publishing on the internet you know pitch would be a we're going to do publishing on the internet you know in that magazines and newspapers will become redundant people will get their news all in that magazines and newspapers will become redundant people will get their news on the internet at the time nobody believed that an email at that on the internet at the time nobody believed that an email at that time a member of hollywood at the time i was working and it would if you had an email address at a time a member of hollywood at the time i was working and it would if you had an email address it was considered a class a it was considered you were considered a nerd nobody with respect was considered a class a can see you were considered a nerd nobody with respectable would have an email address you know the that's how until the blair witch project in the never to bill would have an email address you know the that that's how until the blair witch project and than everything changed
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things and in hollywood because it has the in the internet internet but here but here here deserts does or story or very ugly not not. these driven you to be sworn. in q 3 xena's the corners craziness is even more bizarre in that companies like we work is even more bizarre in that companies like we work the pitch was they're going to own the global real estate market the pitch was they're going to. own the global real estate market so the founder was saying that the global real estate market is 5 so the founder was saying that the global real estate market is 5 trillion dollars or 10 trillion dollars and that we could own it and that pet trillion dollars or 10 trillion dollars and that we could own it and that pets raised tens
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of billions of dollars that would be like saying i'm going to raised tens of billions of dollars that would be like saying i'm going to i'm going to start farming you know kumquats on the dark side of the moon i'm going to start farming you know kumquats on the dark side of the moon because it's it's just i'm the the center of the story because it's it's just i'm the the center of the story that encourages people to take these risks in this era that we're just coming through that encourages people to take these risks in this era that we're just coming through has become even less less substantial it's never have such the such has become even less less substantial it's never have such the such stories with less substance but have raise some money money money from some stories with less substance but have raise some money money money from so such
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a high concentration of v.c.s. and now as you point out it's collapse of oh such a high concentration of v.c.s. and now as you point out it's collapse and of course there unicorns which are mystical magical creatures so of course they're unicorns which are mystical magical creatures so it was always that and it is a world of negative interest rates so there we have gone conway's that and it is a world of negative interest rates so there we have gone kind of through a looking glass where maybe hugh might imagine that this time having huge kind of through a looking glass where maybe hugh might. imagine that this time having huge losses and being subsidized by your investors and your bond holders because remember the losses and being subsidized by your investors and your bond holders because remember there were people bond investors pouring money into. there were people bond investors pouring money into. and subsidizing huge percentage of
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every ride you take in super is and subsidizing huge percentage of every ride you take in super is subsidized by these crazy investors i don't know why they pay for half of my or i but they do and i subsidized by these crazy investors i don't know why they pay for half of my or i but they do and i take it and thank you it's very polite of them but there they were never earning money and there was no hit and thank you it's very polite of them but there they were never earning money and there was no hope for it we also talked about this in terms of the shale oil production bond investment for it we also talked about this in terms of the shale oil production bond investors are pouring money into it billions and billions of dollars your pension fund your answers are pouring money into it billions and billions of dollars your pension fund your local municipalities your like your state pensions everybody's pouring money into it local municipalities your like your state pensions everybody's pouring money into it and we kept looking at it and
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just looking at their earnings reports and looking at the facts and saying we kept looking at it and just looking at their earnings reports and looking at the facts and said just quite simply they are losing money that they still haven't made money said just quite simply they are losing money they still haven't made money they didn't make money when it was $20.00 a barrel for oil they didn't make money when it was $100.00 and they didn't make money when it was $20.00 a barrel for oil they didn't make money when it was $110.00 a barrel so they're they're not they're losing money the whole way because that way it read crean dollars a barrel so they're they're not they're losing. money the whole way because that way it read crean syndrome where they have to keep on drilling faster and faster well now it's really really starting to center where they have to keep on drilling faster and faster well now it's really really starting to hit again just like the no not com bubble where the public markets are saying hit again just like the no not com bubble where the public markets are saying do you guys aren't making money
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and you're never going to make money well it's starting to really hit it does you guys aren't making money and you're never going to make money well it's starting to really hit in the shale oil sector in america despite all the hype despite that the shale oil sector in america despite all the hype despite that like what you were saying about newman with we work where he's like we're going to hold the global commercial real estate market like what you were saying about newman with we work where he's like we're going to hold the global commercial real estate market member all the headlines that america's like we produce way more oil than saudi arabia where member all the headlines that america's like we produce way more oil than saudi arabia where we're an oil rich nation you know like them foil field services face cryer we're an oil rich nation like them foil field services face crisis as shale slowdown worsens shell oil producers are under fire faces as shale slowdown worsens shell oil producers are under fire from investors while most analysts see
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a supply in 2020 the 1st and 3rd largest from investors while most analysts see a supply in 2020 the 1st and 3rd largest oil field service companies in the world saw their earnings hit in the 3rd quarter oilfield service companies in the world saw their earnings hit in the 3rd quarter due to the slowdown in the u.s. shale drilling schlumberger took a $12.00 bill due to the slowdown in the u.s. shale drilling schlumberger took a 12 point $7000000000.00 impairment charge related to its north american business a rather dramatic civilian dollar impairment charge related to its. north american business a rather dramatic slowdown that led to an $11400000000.00 loss for the quarter the largest in the company down that led to an $11400000000.00 loss for the quarter the largest in the company's history quote that's a sizable write down from pressure pumping business that's just a nice history quote that's a sizable right down from pressure pumping business that just tells you the state
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of north american onshore market being pretty poor said and tells you the state of north american onshore market being pretty poor said anish founder of oil and gas consultancy from a cap and energy to the cost of getting a bounder of oil and gas consultancy from a cap and energy to the cost of getting a barrel of oil in saudi arabia the galois oil field is like $2.00 yeah yellow oil in saudi arabia the galois oil field is like $2.00 yeah in america to get a barrel of oil you need to borrow $20000.00 to borrow $20000.00 and in america to get a barrel of oil you need to borrow 20000 bucks to borrow 20000 sensually which is easy because what we're saying here the unicorn economy that they just they lend they lend trillions which is easy because what we're saying here the unicorn economy they they just they lend they lend trillions at no cost ok so now when rates go up as they will because as night fell cost ok so now when rates go up as they will because as night follows day as gravity exists as there is
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a heaven and hell all as day as gravity exists as there is heaven and hell there rates are going to go up and that means that the saudis can still get about their rates are going to go up and that means that the saudis can still get a barrel oil for $2.00 but you can't borrow $10.00 to $20000.00 in a barrel oil for $2.00. but you can borrow $10.00 to $20000.00 in a barrel all in the in the u.s. and the cost of this goes up beyond what you can afford it but $1.00 thing we always a lot in the in the u.s. is the cost of this goes up beyond what you can afford it but one thing we always mentioned was like ok where we're like yeah we know what a producer is mentioned was like ok where. we're number one what producers but of course saudi arabia kuwait iran iraq russia they all just but of course saudi arabia kuwait iran iraq russia they all they're like yeah but only cost us
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a few bucks like we we know you're spending $70.00 they're like yeah but it only cost us a few bucks like we we know you're spending $70.00 to pull out that same barrel of oil right the same thing was happening with the taxi market to pull out that same barrel of oil right the same thing was happening with the taxi market the taxi drivers know how much it costs for all the regulations that the insurance the gasoline the drive the taxi drivers know how much it costs for all the regulations that the insurance the gasoline the driver and they're like yeah you're like eating our lunch technically rubber and they're like yeah you're like eating our lunch technically right now but you're losing money late how is that even a business so they're very now but you're losing money late how is that even a business so they're very similar these 2 in terms of the magical quality if you have access to us similar these 2 in terms of the magical quality if you have access to unlimited money and 0 percent interest rate you're going to try to do
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something like dominate the globe unlimited money and 0 percent interest rate you're going to try to do something like dominate the global taxi business you're going to try to dominate the global energy business you'll try to dominate the global real estate market all taxi business you're going to try to dominate the global energy business you'll try to dominate the global real estate market those are stablish businesses you want to dominate them because you're literally being given that those are stablished. says you want to dominate them because you're literally being given unlimited financing at almost 0 percent. unlimited financing at almost 0 percent cost so if you're a megalomaniac if you're a psychopath you'd sauced so if you're a megalomaniac if you're a psychopath you'd say you know what i want to be the number $1.00 real tor on planet earth and you've got a wall you know what i want to be the number one real tor on planet earth and you go to wall street they say well here's 50000000000 dollars and go take out some
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long term lease tree they say well here's $50000000000.00 and go take out some long term leases all over the world to become the number one property owner in the lease or not only says all over the world to become the number one property owner in the lease or not owner for bed and then try to rent it out on a short term basis and oh $15.00 min or god forbid and then try to rent it out on a short term basis and 015 months later it's not worth $40000000000.00 or $50000000000.00 it's actually maybe worth $2000000000.00 corn on slater it's not worth $40000000000.00 or $50000000000.00 it's actually maybe worth 2000000000 corina one analyst going to 000 how predictable was that in the one analyst going to 0. how predictable is that where a predictable if we only go for the magic if we believe the magic story if we lose that what are you predictable if we only go for the magic if we believe the magic story if we lose the capacity to actually produce energy or if you lose the
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capacity to actually have a capacity to actually produce energy or if you lose the capacity to actually have a say in housing and property market or like a food market agricultural industry say in housing in property market or like a food market an agricultural industry like it is it is costly to produce protein but we like we've done the same like it is it is costly to produce protein but we've we've done the same that we've done with super and gasoline and with fracking is that we pretend like we can have that we've done with super and gasoline and with fracking is that we pretend like we can have magical food that provides all these ingredients and nutrition there's no magic circle food that provides all these ingredients and nutrition there's no magic it's the kaiser report max the stacy don't go away we'll be back after the. it's the kaiser report with max and stacey don't go away we'll be back after the.
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so we've got to do is identify the threats that we have it's crazy confronted so we've got to do is identify the threats that we have it's crazy for him to let it be an arms race in his own spirit dramatic to follow he shouldn't let it be an arms race in his own spear in dramatic development the only really i'm going to do i don't see how that strategy will be good the only really i'm going to i don't see how that strategy will be successful very critical time to sit down and be successful very critical time. do you sit down and talk. talk. cooked additional submersed if so i know what
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was announced at the tickling are some of these it's just a cooked additional submersed if so i'm not on what was an ounce of to linger some nice it's just a good usual thing it's nice to know. what you're looking is not known. cinema yet seen him if you've not. seen him do you have seen him if you can also post here. look at the showing at the brentwood ship a skeleton is lost when i shall proceed. to look at with a showing of the scully some is lost when the church. do you think it will ship. your fish and so to the church. do you think it will ship. your fishing 30. boat up ship in. the upper new last. boat of shipping. yet when you lost in both the book hit the roof of the bus and able. to say no to
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both the book hit the roof of the bus and able. to say no i don't know what that or. i don't know what that or. if it was the latest news in the pub us. if it was the latest news in the pub us. boys and all right so you have put this was one of those. worries and all right so you have put your system of those. lyricists through the summer in the story of the soulful. lyricist through the summer in the story of the soulful.
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welcome back to the kaiser report time and. welcome back to the kaiser report time now to return to our conversation with the me of club or lived up blogspot dot com dimitri now to return to our conversation with the me of club or lived up blogspot dot com dimitri welcome back great to be with you again next year over in st petersburg in russia we you're welcome back great to be with you again next year over in st petersburg in russia we year we were talking about really what's happening the global economy we've got a e.u. we were talking about really what's happening the global economy we've got the ascent of china we've got the ascent of russia we've got the u.s. seemingly twiddling their thumbs the ascent of china we've got the ascent of russia we've got the u.s. seemingly twiddling their thumbs you're talking about russia and china pretty much
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as sometimes you're talking about russia and china pretty much as centralized governments you use a phrase stalin ism 2.0 for allies governments you use a phrase stalin ism 2.0 and you know as an american i look at this and i say ok and you know as an american i look at this and i say ok i would think that a decentralized approach that we have in america is is something to pursue i would think that a decentralized approach that we have in america is is something to pursue but clearly the u.s. model is breaking down for various reasons so we've got to but clearly the u.s. model is breaking down for various reasons so we've got to get a perspective your perspective i think is extremely valuable here we want to continue and to get a perspective your perspective i think is extremely valuable here we want to continue and i just want to ask you also you know it's interesting happening in
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germany dimitri and i just want to ask you also you know. interesting happening in germany dimitri despite threats of sanctions germany is embracing china's cheap flight despite threats of sanctions germany is embracing china's cheap 5 g. technology the u.s. says no 5 g. technology i've g. technology the u.s. says no 5 g. technology and you know germany seems to be like a swing vote here between this and you know germany seems to be like a swing vote here between this struggle between the u.s. china and russia germany it no duggal between the u.s. china and russia germany it no if they could they've been a u.s. ally they could be up for grabs they could enter if they could they've been a u.s. ally they could be up for grabs they could enter into that alignment with russia
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china dimitri what do you think into that alignment with russia china dmitri what do you think it's difficult for germany because they have surrendered a great deal of their sovereignty to the united it's difficult for germany because they have surrendered a great deal of their sovereignty to the united states after world war 2 and then is germany of course sr but it states after world war 2 and then is germany of course ceased to exist and its sovereignty went over to the united states as well so they're not really exist its sovereignty went over to the united states as well so they're not really in charge of their own affairs but on the other hand the americans are so asleep at the way in charge of their own affairs but on the other hand the americans are so asleep at the wheel right now that you know when the cat's away the mosque the mice will play and so we'll right now that you know when the cat's away the mosque the mice will play and so the germans do end up doing
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a lot of things that americans don't necessarily approve all the germans do end up doing a lot of things that americans don't necessarily approve off just building lots of factories in russia. so just building lots of factories in russia. so i think that germany could get closer and closer to russia as i think that germany could get closer and closer to russia as the united states drifts farther and farther away on terms of chaco the united states drifts farther and farther away on terms of technological lead you know 5 g. is just one example there are lots of others logical lead you know 5 g. is just one example there are lots of others were. both the united states and the europeans of last there were. both the united states and the europeans have lost their edge nuclear energy is as one of them for instance americans know ledge
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nuclear energy is as one of them for instance americans no longer know how to enrich uranium they rely on longer know how to enrich uranium they rely. on russia to do that for them and france to some extent. russia to do that for them and france to some extent but russia is by far the foggiest along in in that in that program by far the foggiest along in in that in that program they also have failed basically lost the competency to build they also have failed basically lost the competency to build nuclear reactors on time and within budget all of their build nuclear reactors on time and within budget all of their projects latest projects have been complete
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disasters projects latest projects have been complete disasters the united states has 100 nuclear reactors producing quite a lot of the other the united states has 100 nuclear reactors we're guessing quite a. a lot of the electricity and these are all aging out they're going to be shut down but they don't know how to replace tricity and these are all aging out they're going to be shut down but they don't know how to replace the united states doesn't know how to build icebreakers anymore it's been decades since they built one united states doesn't know how to build icebreakers anymore it's been decades since they built one well the people who knew how to build one are either retired or or pushing up well the people who knew how to build one are either retired or or pushing up daisies so the united states has stands no chance in terms of bases so the united states has stands no chance in terms of exploiting the arctic
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alongside russia which you know we are exploiting the arctic alongside russia which you know the arctic is thawing out so a lot of opportunities there and the americans won't be able to because thawing out a lot of opportunities there and the americans won't be able to make use of them not only is this american bigotry toward russia come to make use of them not only is this american bigotry toward russia kind of circa soviet union times but america's perception of russia and of circa soviet union times but america's perception of russia's financial prowess and manufacturing abilities etc are as also has financial prowess and manufacturing abilities etc are as also completely out of date i don't think people understand that for us of economy completely out of date i don't think people understand that for us of economy has been thriving in
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our alongside china. and has been thriving in our alongside china. and this is the tragedy of all this is that there's just a lack of information in the us this is the tragedy of all this is that there's just a lack of information. in the us if i watch cable news i'm looks like i'm watching a russia soviet t.v. from the night if i watch cable news i'm looks like i'm watching a russia soviet t.v. from the 1950 s. there's been no updating to anyone's files over there c.n. be say and basically $850.00 there's been no updating to anyone's files over there c n b say and basically a.b.c. they are living completely in the past i want to kind of talk the say they are living completely in the past i want to kind of talk a little bit about these waves of economic protests been happening across the world from killick a little bit about these waves of economic protests been happening across the world from chile france spain iraq lebanon haiti mostly to do with austerity france spain
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iraq lebanon haiti mostly to do with austerity high prices economic mismanagement is there a bigger story going on here the high prices economic mismanagement is there a bigger story going on here oh yes there's the whole industry in fomenting use revolt and dear oh yes there's the whole industry in fomenting use revolt in various countries around the world it works through various western n.g.o.s various countries around the world it works through various western n.g.o.s. social media companies are involves. a lot of social media companies are involves. a lot of are throwing money at it this is a way of. life are throwing money at it this is a way of flight ing economic backfires in order to trade any extra cash towards
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the economic backfires in order to trade any extra cash towards the financial centers in london that washington so basically if for it they were financial centers in london that washington so basically it. for it they would bomb a country and steal its gold they did that to libya they did that to iraq but bomb a country and steal its gold they did that to libya they did that to iraq. they stole your crates gold cetera just to basically prop up this they stole you creates gold cetera just to basically prop up this western bubble economy scheme for a little further for a little longer now they can't even if western bubble economy scheme for a little further for a little longer now they can't even afford to just do a bombing campaign so instead they sacrifice a young people off for it to just do a bombing campaign so instead they sacrifice a young people off one country after another you know thinking that you know this
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is the meat generation one country after another you know thinking that you know this is the meat generation not the milk generation because financially there's no way to milk these young out the milk generation because financially there's no way to milk these young people so what why don't we just go ahead and sacrifice them and the people so what why don't we just go ahead and sacrifice them and you know this is just a way of causing capital flight. not you know this is just a way of causing capital flight. knocking various economies out so that they can't compete again various economies out so that they can't compete for increasingly scarce financial resources. for increasingly scarce financial resources. you know this is this is
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a very nasty thing that's going on it has very little to do with you know this is this is a very nasty thing that's going on it has very little to do with with corruption as i like to say the united states is the most corrupt country in the world because of corruption as i like to say the united states is the most corrupt country in the. because their corruption corruption has been legalised it's coke lobby all other countries and their corruption corruption has been legalised it's coke lobby all other countries in the world are less corrupt than the united states so western inspired anti corrupt are less corrupt than the united states so western inspired anti-corruption drives here and there and everywhere you know effect that's just propaganda that's just drugs here and there and everywhere you know effect that's just propaganda that's just a rabble rousing kind of approach when you say the us is the most corrupt rabble rousing kind of approach when you say the u.s. is the most corrupt nation they i'd love to be able to argue that's not the case
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but then i remember jamie diamond nation a i'd love to be able to argue that's not the case but then i remember jamie dimon over there j.p. morgan being prosecuted and investigated for racketeering and over there j.p. morgan being prosecuted and investigated for racketeering and massive multi $100000000000.00 of fraud it's hard to argue what you're saying thing and massive multi $100000000000.00 of fraud it's hard to argue what you're saying you know you mention that the financial centers london if you know you mention that the financial centers london and new york are the centers of this global corruption and i think about russian york are the centers of this global corruption and i think about russia russia doesn't have that kind of financial center is russia doesn't have that kind of financial center is gotten it's kind of like divorcing
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itself from the financial ization gotten it's kind of like divorcing itself from the financial ization of the global economy by buying hundreds and hundreds of tons of gold you know they're going is russia going to come out with a gold backed currency i realize this is a big. specular of the global economy by buying hundreds and hundreds of tons of gold you know they're going it is russia going to come out with a gold backed currency i realize this is a bit of speculation but it seems like russia maybe russia and china are going to come out with a gold back or partial ation but it seems like russia maybe russia and china are going to come out with a gold back or partially gold backed currency or china has been speculated well now they've got 20000 gold backed currency or china has been speculated well now they've got 20000 tons of gold which is more than anyone understand that they have or might have is that ons of gold which is more than anyone understand that they have or might have is that is that going to be you know you wrote the collapse gap
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and that is that going to be you know you wrote the collapse gap and is that the pin on the hand grenade that's going to be pulled that's going to put the dollar is that the pin on the hand grenade that's going to be pulled that's going to put the dollar into a fatal tailspin the death dive is that somebody or into a fatal tailspin the death dive is that somebody is going to announce a gold backed currency dimitri i think the strategy both for russia or china is going to announce a gold backed currency dimitri i think the strategy both for russia or china is to let the americans do it 0 to themselves buy them so now is to let the americans do it oh to themselves by themselves. i won't be anyone but themselves to blame. the won't be anyone but themselves to blame.
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they americans are following along with this program really well with a program of sept 2nd. they americans are following along with this program really well with a program of sept sanctions limiting expulsions access to dock transact linux reading and it will threatening to cut $2.00 transactions at will linked off from the sky now at work for people in the office and of the swifts at work for instance there is a case there by to basically psych through the branch on which they're perched they're doing that themselves nobody has to help them branch on which they're perched they're doing that themselves nobody has to help them now what russia and china will do is continue to do trade between now what russia and china will do is continue to do trade between the 2 countries and with other countries. for imperious other 2 countries and with other countries. for imperious other trade consortia based on local currencies there is currency swaps will trade consortia
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based on local currencies there is currency swaps will be backed by gold get gold guarantees if you will just to stabilize things be backed by gold get gold guarantees if you will just to stabilize things to make sure that it's not just a perk but that's probably all it's going to be to make sure that it's not just a perk but that's probably all it's going to be and of course nobody is really interested in major financial destructions which will and of course nobody is really interested in major financial destructions which will occur but they will be produced by the united states acting alone a money for a while will occur but they will be produced by the united states acting alone a money for a while and i know that background in blair and i know well that. you know anything about this background in engineering you know what you think about this boeing says
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. and $37.00 scandal the other plane they are outsourcing software boeing 737 scandal the other plane they are outsourcing software to minimum wage workers and the to be too intimate one while the exact workers it isn't as are bought and i'm the bad. stock for them as are bombs backtalk doesn't milliken's of stock for them and killing doesn't make and in any other killing that's it fran break interrupt a missing prompted you to meet me did you take a look at that what it what do you think it's really miserable how the engineering culture in the united to look at that what it what do you think it's really miserable how the engineering culture in the united states has decayed and it's it's really a question of status has decayed and it's really a question of who is in charge the businessman the financier's or the engineers the whole is in charge the businessman the financier's or the engineers the whole mindset in the united states is you basically hire fire and she nears as needed
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mindset in the united states as you basically hire fire and she nears as needed to do a particular job if you find an engineer who is cheaper in india than you how to do a particular job if you find an engineer who is cheaper in india then you hire him even you know other engineers will tell you that well the level of competence is just very ambivalent you know other engineers will tell you that well the level of competence is just not the same it doesn't matter it's all about money none of it has to do with the characteristics it doesn't matter it's all about money none of it has to do with the characteristics of a physical systems at all and basically it's a prescription has a physical systems at all and basically it's a prescription for disaster because money money meant do not understand engineering to the extent need for disaster because money money meant do not understand engineering to the extent needed you know to. effectively manage it now with the
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chinese and the russians to stay pretty you know to effectively manage it now what the chinese and the russians do is they promote engineers to point responsibility executives responsibility boat engineers to point responsibility executives responsibility they don't just hire money to do that i love your point about milk and meat they don't just hire money to do that i love your point about milk and meat you know there's you can milk this next generation less product you know there's you can milk this next generation well as paul krugman would suggest that we only all the debt to ourselves he says you just be milking that the youth krugman would suggest that we only all the debt to ourselves he says are just be milking the the youth until they can no longer be belt and then their meat in the case of the us until they can no longer be belt and then their meat in the case of the us all the student debt has forced the students now to go off for their meat
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saw the student debt has forced the students now to go off for their meat as military conscripts to go fight people there even know who they're fighting as military conscripts to go fight people there even know who they're fighting it's just a generic war that they go out and try to pay back their student debt it's just a generic war that they go out and try to pay back their student debt and certainly a see that happening let me you know as again another engineering question and certainly a see that happening let me you know as again another engineering question negative interest rates you know last time we talked there's no such thing existed and negative interest rates you know last time we talked there's no such thing existed and it had never been contemplated in the history of the world this is an engineer and had never been contemplated in the history of the world this is an engineer.
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something going on the financial engineers here negative interest rates isn't what something going on the financial engineers hear negative interest rates isn't crazy when you think about this with negative interest rates will become these financial and topos crazy lady think about this with negative interest rates will become these financial and to poach that hop around on their heads you know that we're paid to borrow hop around on their heads you know that we're paid to borrow we are fight for saving. it's it's insane where fight for saving. it's it's insane and it will go on for any length of time because basically. it will go on for any length of time because basically the incentives for participating in any kind of a banking scheme and that the incentives for participating in any kind of a banking scheme evaporate so the only thing you have left is kind of force there
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is no great so the only thing you have left is kind of force like there is no cash you have to use your credit card for every saying ok you have to use your credit card for every saying. oh your body has to be within the side actual institution which will slowly confiscate it over to your body has to be within the site actual institution which will slowly confiscated over time. who is going to go along with that scheme you know who for any lamp. is going to go along with that scheme you know who for any length of time will put out with that sort of nonsense so it's just a question of time their length of time will put out with that sort of nonsense so it's just a question of time there's a lot of social interaction of people will you know because they're losing a little bit of money at a time or is a lot of social in their ship people will you know because they're losing a little bit of money at a time right now. you know they don't go put put up with the truth the time being
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right now. you know they'll kill put put up with the truth the time being but you know i did some like straight project projections in terms of but you know i did some like straight project projections in terms of over lower interest rates. if you just like plotted out over lower interest rates. if you just like plotted out it turns out you know it looks like we're going to have to have ever more negative interest it turns out you know it looks like we're going to have to have ever more negative interest rates that's what a lot of guests of ours are saying and we got to go quick question how that's what a lot of guests of ours are saying and we got to go quick question how long would it take me to grow a beard like that 3 years thank you add to major for bill long would it take me to grow a beard like that 3 years thank you add to major for being on the cars or a fork thank you for a well that's going to do it for this edition of the kaiser
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a on the cars or a fork thank you well that's going to do it for this edition of the kaiser report with me max foster and stacy herbert want to thank our guest amaechi orloff joining catches on the port with me maximizer and stacy herbert want to thank our guest amaechi orloff joining catch us on twitter it's kaiser report until next time by. twitter it's kaiser report until next time.
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what politicians do something. they put themselves. what politicians do something. they put themselves on the line and they get accepted or rejected. a line they get accepted or rejected. so when you want to be president. or somehow want to be. told you want to be president i'm sure. some will want to. that's why the press is allied with the 43 of them or can't that's why the press is like the 43 in the morning can't be good. i'm interested always in the waters about how. good. i'm interested always in the waters about how. i said. that i said. during the great depression which i'm old enough to remember there was an. during
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the great depression which i'm old enough to remember there was and most of my family were unemployed working class other wasn't it was bed you know much with my family were unemployed working plus other wasn't it was bed you know much worse objective listen today but there was an expectation that things were going to get better or subjectively than today but there was an expectation that things were going to get better. of there was a real sense of hopefulness there isn't today. there was a real sense of hopefulness there isn't today today's america was shaped by the turn principles of concentration of today's america was shaped by the 10 principles of concentration of wealth and power. reduce democracy wealth and power. reduce democracy at tax holiday.
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engineer elections manufacture attack solid doubt engineer elections manufacture consent and other principles according to know on chomsky consent and other principles according to know on chomsky one set of rules for the rich opposite set of rules for. one set of rules for the rich opposite set of rules for . that's what happens when you put her into the hands of narrow that's what happens when you put her into the hands of a narrow sector of will which will is dedicated to increasing power for a sector of will which will is dedicated to increasing power for itself just as you'd expect one of the most influential intellectuals of our time chills just as you'd expect one of the most influential intellectuals of our time speaks about the
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none. with a gentleman. with a snap election on the way in the breaks the extension in the back of the u.k. parliament finally got to start talking about other things with breakfast extension in the back of the u.k. parliament finally got to start talking about other things with the prime minister and leader of the opposition clashing over all kinds of things from russia to the prime minister and leader of the opposition clashing over all kinds of things from russia to u.s. designs on the n.h.s. . democrat controlled us designs on the n.h.s.
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. democrat controlled u.s. house of representatives has voted to move the patient inquiry to the next old u.s. house of representatives has voted to move the patient inquiry to the next stage an open hearing resolution was done by republicans the soviet style stage an open hearing resolution was by republicans a soviet style. the facebook suspends accounts it believes were. the facebook suspends accounts it believes were russian and involved in this information campaign in africa just a week after moscow russian and involved in this information campaign in africa just a week after moscow songs 1000000000 dollar deals with the continent. songs $1000000000.00 deals with the continent.
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