close his eyes he also stated during that visit that there was no failure when it came to the state services with how the fire had been dealt with the media is no failure when it came to the state services with how the fire had been dealt with immediately and in the aftermath now some have been angered by that statement saying that and in the aftermath now some have been angered by that statement saying that either the president is in denial or he's been given bad advice by the president is in denial or he's been given bad advice by his advisors now we were in rwanda just a couple of days after that fire like his advisors now we were in rwanda just a couple of days after that fire broke out you could still smell the aftermath of that fire very chemical tinges in the air it broke out you could still smell the aftermath of that fire very chemical tinge to in the air it smelt a bit like rotten eggs which is sort of a sense of that came with smelt

a bit like rotten eggs which is sort of a sense of that chemical still lingering in the air and i was speaking to some of the residents who live just across the river the coal still lingering in the air and i was speaking to some of the residents who live just across the river from where the factory was and they were telling me not just about the immediate health come where the factory was and they were telling me not just about the immediate health that they had but also concerns about what health issues that they had but also concerns about what health issues could develop in the future this is what they told me. you can do could develop in the future this is what they told me. you can talk to any foreign men but when you have any type of contact with the smoke it's a dangerous to talk to any foreign men when you have any type of contact with the smoke it's a dangerous game believe it or because of the camera man excited and in this case when the smoke went into the sky. i can believe it all because of the camera man

excited and in this case when the smoke went into the sky we didn't know what was in it was we don't know exactly what is in the year and when i realized i didn't know what was in it we don't know exactly what is in the year and when i realized it in the future it might bring cancer or something else. i had it in the future it might bring cancer or something now so. i have 4 kids and they were impacted by the smell and migraines i thought about having tests done before kids and they were impacted by the smell and migraines i thought about having tests done but for was with absolutely no information about what we should be looking for that visit for was with absolutely no information about what we should be looking for that visit came as a new poll shows that 2 thirds of french people who receive it came as a new poll shows that 2 thirds of french people who responded to the poll think that corn is a bad president and that polled bonded to the poll think that corn is

a bad president and that poll comes hoff way through his term as president of france and it seems that no matter what he does he just can't shake the tag of being a bad president hoff way through his term as president of france and it seems that no matter what he does he just can't shake the tag of being a bad president or the president of the rich. thanks staying with us was on a look at the when you rather today thought the president of the rich. think staying with us was on a lock with being a rather today to half an hour. in half an hour.

max kaiser this is the kaiser report the show. max kaiser this is the kaiser report to show you love i know you do yes stacie yes it's important to what you love i know you do yes stacy 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 i 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 to the corporate propaganda you might be on the wrong 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 kaiser you were involved in the dot com bubble backside of many trades now max kaiser 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 well 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 shoeshine boy the classic 5 trillion and wealth right and it was the shoeshine boy the classic shoeshine boy moment well today as we see the likes of we work collapse white moment well today 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 that we see are down big time we see lift down big time and peloton and all these other so-called software companies right well those are being hit but it's call these other so-called software

companies right well those are being hit but it's call. called the not com bubble is popping the unicorn massacre called the not com bubble is pumping the unicorn massacre unfolding today is exactly the opposite of what happened in 2000 her unfolding today is exactly the opposite of what happened in 2000 it is easy to look at today's crop of sinking i.p.o.'s like a lift in peloton or scuttled it is easy to look at today's crop of sinking i.p.o.'s like a lift in peloton or scuttled public offerings like we work and see an eerie resemblance to the dot com bubble that pop to public offerings like we work and see an eerie resemblance to the dot com bubble that popped in 2000 both then and now consumer tech companies spent lavishly on advertising in 2000 both then and now consumer 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 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 out of money both then and now the valuations of once change the world admitted suddenly that they were actually running out of money both then and now the valuations of once heralded tech enterprises were haves in matters of weeks both then and now that heralded tech enterprises were haves in matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed down with the realisation that 1000 were widespread sense of euphoria curling into soberness wash down with the realisation that thousands of workers and once promising firms were poised to lose their jobs and workers and once promising firms were poised to lose their jobs that's right we are having another turn of the cycle a lot of it us to do with 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 markets to avoid going public and having the fact that so much money was

raised in the venture capital market so to avoid going public and having. dot com replay a lot of these companies raise a lot of money dot com replay a lot of these companies raise a lot of money in the venture capital want to before it ever reached the public market so in the case away work they 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 valuation before even going public and achieve something like a $48000000000.00 valuation before even going public and during that time this is what's remarkable to me during the dot com bubble there was 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.'s and insiders dumping stock lot of problems with c.e.o.'s and insiders dumping stock right after the i.p.o. there should be a lockup period to force people right after the i.p.o.

there should be a lockup period to force people keep people to stay on for at least 6 months or a year to make sure this thing 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 here in this era of the we were it's out of the gate it without too many problems here in this era of the we work being a primary example the founder an insider was able to dump work being a primary example the founder insider was able to dump almost a $1000000000.00 before the i.p.o. to you this is almost a $1000000000.00 before the i.p.o. to the sophisticated money not to the dumb money he had he was dumping it on more if the kid had money not to the dumb money he had he was dumping it on multi-billionaires the venture capital community which had grown up on multibillion

eris the venture capital community which had grown up on. in this in the last 1015 years on this unicorn mentality that they were but is this in the last 1015 years on this unicorn mentality that they were but is similar that they were all so feeding on the same delusion and they had. that they were all so feeding on the same delusion and they had profits early on in a couple of big big winners that they were resigned or profits early on in the couple of big big winners that they were recycling so you recycling kind of the house money as it goes in by killing so you're recycling kind of the house money as it goes in the valuations keep going higher and higher but defectively the same but they're not publicly wishes 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 contagion effect will the spillover train it but it will the question is will it

have a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic phenomena it is having them 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 rapidly because a lot of people who are hoping packed 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 if their we work shares were something to you know buy properties that they could afford if their we work shares were worth something so now there is this guy who's calling it the not com so now there is this guy who's calling it the not com bubble not the dot com bubble because in fact a lot of these companies are not the dot com bubble because in fact a lot of these companies are just masquerading as tech companies they're not actually tech companies we just masquerading as tech companies they're not actually

tech companies we. work is not a tech company it's the same old fashioned commercial really work it's not a tech company it's the same old fashioned commercial real estate lending and leasing sort of thing that's been going on as a boring 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 it's the same industry but it's just been was brain destry that's been around for hundreds of years and it's the same industry but it's just been was branded as some sort of high tech software company where you can get big multiples so rand it is some sort of high tech software company where you can get big multiples so why is calling and not com is because the ordinary investor is way smarter right why is calling and not com is because the ordinary investor is way smarter right now than the v.c. funds because when the web browser netscape went public now than the v.c.

funds because when the web browser netscape went public aug 9th 1905 the day many cite as the beginning of the dot com bubble august 9th 1905 the day many cite as the beginning of the dot com bubble its stock skyrocketed from $28.00 to $75.00 in a matter of hours even stocks skyrocketed from 28 $1.00 to $75.00 in a matter of hours even though the company was not profitable and today's market the opposite is happening unicorns though the company was not profitable and today'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 no positive earnings are getting slaughtered at the gates we were expel you ation fell more than 80 percent pre i.p.o. when investors balked at its mounting losses 80 percent pre i.p.o. when investors balked at its mounting losses peloton lifton guber have also struggled to persuade public markets to grade them on a curve also lift and hooper have also struggled to persuade public markets to

grade them on a curve also. their stock prices fall on the day of the public offering institutions and retail investors are refile their stock prices fall on the day of the public offering institutions and retail investors are refusing to fork over to unicorns the valuations that private investors were experiencing to fork over to unicorn's the valuations that private investors were expecting particularly soft bank a major backer of a lift and we work acting particularly soft bank a major backer of lift and we work this isn't a picture of mass media it's a picture of public so brian this isn't a picture of mass media it's a picture of public so brian where the masses are diagnosing an acute fever in private markets bring where the masses are diagnosing an acute fever in private markets bring that back to the opening statement where i said this because you watch kaiser report we've been covering this we've seen 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 saying when we were still in london 3 or 4 years and then i remember misfire science showing charts and saying when we were still in london 3 or 4 years ago saying that lifton these companies were not worth that that they were a ponzi scheme saying that lift and these 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 i think this is games and that one day they were trying to dump it on the public markets so i think this is also part of that censorship d. platforming sort of thing that we see is like also part of that censorship d. platforming sort of thing that we see is like the the corporate media doesn't have control over the dummies you know the dumb money the 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 ordinary investor out there that is used to used

to be called the dumb money the average ordinary investor out there that is used. dump that private investor money onto the dot com phenomenon if you're going back to that era you know it was technology software problem dump that private investor money onto the dot com phenomenon if you're going back to that era you know it was technology software problem technology driven where the pitch would be we're going to do technology driven where you the pitch would be we're going to do publishing on the internet you know in that magazines and newspapers will be publishing on the internet you know in that magazines and newspapers will become redundant people will get their news on the internet at the time nobody believed that come redundant people will get their news on the internet at the time nobody believed that an email at that time a member of hollywood at the time i was working in e-mail at that time

a member of hollywood at the time i was working and it was if you had an email address it was considered a class a it was conceived you were kissing and it was if you had an email address it was considered a class a because that you were considered a nerd nobody with respectable would have an e-mail address you know the there to nerd nobody with respectable would have an email address you know the that that's how until the blair witch project and than everything changed in hollywood because of the internet but it that's how until the blair witch project and than everything changed in hollywood because of the internet but here the story of the not com v.c. driven here the story of the not com v.c. driven unicorn craziness is even more bizarre in that unicorn craziness is even more bizarre in that it's companies like we work the pitch was there going to companies like we work the pitch was there going to.

own the global real estate market so the founder was saying that the goal on own the global real estate market so the founder was saying that the global real estate market is 5 trillion dollars or 10 trillion dollars obo real estate market is 5 trillion dollars or 10 trillion dollars and that we could own it and that pets raised tens of billions of dollars and that we could own it and that pets raised tens of billions of dollars that would be like saying i'm going to i'm going to start farming and you know there's 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 because it's it's just all kumquats on the dark side of the moon because it's it's just i'm the the center of the story that encourages people to take these risks then to the center

of the story that encourages people to take these risks in this era that we're just coming through has become even less and less supposed to in this era that we're just coming through has become even less less substantial it's never have such the such stories of lost substance have written antrel it's never have such a such stories of lust substance have raise some money money money from so such a high concentration of v.c. some any money money from so such a high concentration of v.c.s. and now as you point out it's collapse and of course there unicorns which are misty's and now as you point out it's collapse and of course they're unicorns which are mystical magical creatures so it was always that and it is a world of negative whole magical creatures so it was always that and it is a world of negative interest rates so there we have gone kind of through a looking glass where maybe he might have interest rates so there we have gone kind

of through a looking glass where maybe he might. imagine that this time having huge losses and being subsidized by your imagined that this time having huge losses and being subsidized by your investors and your bond holders because remember there were people bond investors vester isn't your bond holders because remember there were people bond investors pouring money into. and subsidizing huge performing money into. and subsidizing huge percentage of every ride you take in super is subsidized by these crazy investors i don't know why centuries 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 take it and thank you it's very polite of them 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 hope for it we also talked about this 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 investors are pouring money into it the $1000000000.00 in terms of the shale oil production bond investors are pouring money into it billions and billions of dollars your pension fund your local municipalities your like your stance of billions of dollars your pension fund your local municipalities your like your state pensions everybody's pouring money into it and we kept looking at it and just looking at the pensions everybody's pouring money into it and we kept looking at it and just looking at their earnings reports and looking at the facts and said just quite simply they are earnings reports and looking at the facts and 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 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 $110.00 a barrel so they're they're not they're little for oil they didn't make money when

it was $110.00 a barrel so they're they're not they're a loser. money the whole way because that way it read crean syndrome where they have to keep on drilling for 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 3 we're really starting to hit well i just i was like that's really not the recall starting to hit again just like the no not com bubble where the public markets are saying do you guys aren't making money and you're never going to make bubble where the public markets are saying do 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 on a well it's starting to really hit in the shale oil sector and america despite all the hype despite that like what you were saying about newman with we work where he 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 member all the headlines that america's like you say we're going to only global

commercial real estate market 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 we produce way more oil than saudi arabia where we're an oil rich nation you know like them foil field services face crisis as shale slowdown works and like them foil field services face crisis as shale slowdown worsens shell oil producers are under fire from investors while most analysts see a supply zones shell oil producers are under fire from investors while most analysts see a supply in 2020 the 1st and 3rd largest oil field service companies in the world in 2020 the 1st and 3rd largest oil field service companies in the world saw their earnings hit in the 3rd quarter due to the slowdown in the u.s. shale drilled saw their earnings hit in the 3rd quarter due to the slowdown in the u.s. shale drilling schlumberger took a $12700000000.00 impairment charge related to its billing schlumberger took

a $12700000000.00 impairment charge related to its north america. in business a rather dramatic slowdown that led to an $11400000000.00 north american business a rather dramatic slowdown that led to an $11400000000.00 loss for the quarter the largest in the company's history quote that's a sizable right dollar loss for the quarter the largest in the company's history quote that's a sizable right down from pressure pumping business that just tells you the state of north american onshore market down from pressure pumping business that's just tells you the state of north american onshore market being pretty poor said and founder of oil and gas consultancy from a can pretty poor said and founder of oil and gas consultancy from a cap and energy if the cost of getting a barrel of oil in saudi arabia the galois are up and if the cost of getting a barrel of oil in saudi arabia the galois oil field is like 2 bucks yeah in america to get a barrel of oil you need to borrow oil field is like 2 bucks yeah in america to get

a barrel of oil you need to borrow 20000 bucks to borrow 20000 which is easy because you were saying your unicorn economy $20000.00 is to borrow $20000.00 sensually which is easy because you were saying your unicorn economy they they just they lend they lend trillions at no cost ok so now when rates go up they they just they lend they lend trillions at no cost ok so now when rates go up as they will because as night follows day as gravity exists as up as they will because as night follows day as gravity exists as there is heaven and hell there rates are going to go up and that there is heaven and hell their rates are going to go up and that means that the saudis can still get a barrel oil for 2 bucks but you can means that the saudis can still get a barrel oil for 2 bucks. but you can borrow $10.00 to $20000.00 in a barrel all in the in the u.s. and the cost of this 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 mentioned was like ok where those up beyond what you can afford it but one thing we always mention was like ok where. we know what producers but of course saudi arabia like you know what producers but of course saudi arabia kuwait iran iraq russia they all they're like yeah but only costs us a few around iraq russia they all 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 here 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 the taxi drivers know how much it costs for all the regulation 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 driver and they're like yeah years is that the insurance the gasoline the driver and they're like yeah you're like

eating our lunch technically right now but you're losing money late how is that like eating our lunch technically right now but you're losing money late how is that even a business so they're very similar these 2 in terms of even a business so they're very similar these 2 in terms of the magical quality if you have access to unlimited money and 0 percent interest rate your magical quality if you have access to 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 into 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 those are stablished businesses you want to dirty business you'll try to dominate the global real estate market those are stablished . says you want to dominate them because you're literally being given unlimited financing and ahmed hate them because you're literally being given unlimited

financing at almost 0 percent cost so if you're a megalomaniac almost a 0 percent cost so if you're a megalomaniac if you're a psychopath you'd say you know what i want to be the number one real if you're a psychopath you'd say 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 $50000000000.00 ator on planet earth and you go to wall street 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 dollars and go take out some long term leases 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 the owner in the lease or not owner for bed and then try to rent it out on a short term basis and 15 months later it's not worth $40000000000.00 or 50 out on a short term basis and 15 months later it's not worth 40000000000 or 50000000000

it's actually maybe worth 2000000000 corina one analyst going to 0000000000 it's actually maybe worth 2000000000 corina one analyst going to 0. how predictable is that what are you predictable if we only go for them how predictable is 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 for magic if we believe the magic story if we lose the capacity to actually produce energy or if you lose the capacity to actually have a say in housing and property market we lose the capacity to actually have a say in housing and property market or like a food market an agricultural industry like it is it is costly to produce pro or like a food market an agricultural industry 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 what we've seen but we've like we've done the same 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 fracking is that we pretend like we can have magical food that provides all these ingredients and nutrition it's not magic it's the kaiser report but max the stacy doesn't nutrition it's not magic it's the kaiser report with max and stacy don't go away we're back after the. go away we'll be back after the. popes who. put themselves on the line with popes and.

put themselves on the line. they did accept the reject. so when you want to be. they did accept the reject. so when you want to. present interest for some who want to press. it to the right as an interim. or somehow want to press. it to write to the press it's like the 4th factory in the morning can't be good good to be prosperous like the 43 in the morning can't be good good. interested always in the waters of our. interest to all those in the waters of our. quest to. question. from. the truth from.

well. welcome back to the kaiser report time now to return to our conversation with the me of club or lived up to back to the kaiser report time now to return to our conversation with the me of club or lived up blogspot dot com to me to welcome back great to be with you again next year over in st petersburg blogspot dot com to me to welcome back great to be with you again next year over in st petersburg in russia we. we were talking about really what's happening the glue in russia we. 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. 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 you're talking about russia and china pretty much seemingly twiddling their thumbs you're talking about russia and china pretty much as centralized governments you use the phrase as centralized governments you use the phrase stalin ism 2.0 and you know as an american i looked on as a 2.0 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 at this and i say ok 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 very is is something to pursue but clearly the u.s.

model is breaking down for various reasons so we got 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 race reasons so we got 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. interesting happening in germany dimitri despite threats of sanctions germany doesn't break germany dimitri despite threats of sanctions germany is embracing chancing isn't china. not acknowledge not. the u.s. says no is no 5 g. technology and you know germany seems to be like a swing vote technology and you know germany seems to be like a swing vote here between this struggle between the u.s. china and russia general here between this struggle between the us china and russia

germany it know if they could they've been a u.s. ally they could be other many it know if they could they've been a u.s. ally they could be up for grabs they could enter into that alignment with russia chopper grabs they could enter into that alignment with russia china dimitri what do you think it's difficult for germany because they have surrendered a great painter dimitri what do you think 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 it deal of their sovereignty to the united states after world war 2 and then is germany of course ceased to exist its sovereignty went to over to the united states germany of course ceased to exist and its sovereignty went to over to the united states as well so they're not really in charge of their own affairs but on the other hand they swell so they're not really 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 to moscow americans are so asleep at the wheel right now that you know when the cat's away to moscow the mice will play and so the germans do end up doing a lot of things that americans will play and so 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 i think that germany could get closer couldn't stop necessarily troops off just building lots of factories in russia. so i think that germany could get closer and closer to russia as the united states drifts father and further with a to russia as the united states drifts farther and farther away arms of to track arms and looked logical lucky to look budget. it. is generously what the next 5 g.

is just one example there are lots of others were. both the united states and samples there are lots of others were. both the united states and the europeans have lost their edge nuclear energy is as one of them for the europeans have lost their edge nuclear energy is as one of them for instance americans no longer know how to enrich uranium instance americans no longer know how to enrich uranium they rely on. russia to do that for them and france to some of the day rely . on russia to do that for them and france to some extent but russia is by far the foggiest along in and that's that but russia is by far the foggiest along and in that in that program they also have failed basically let in that program

they also have failed basically lost the competency to build nuclear reactors. and lost the competency to build nuclear reactors on time and within budget all of their projects latest projects have been is and budget all of their projects latest projects have been complete disasters the united states has 100 nuclear reactors complete disasters the united states has $100.00 nuclear reactors producing quite a lot of the electricity and these are all aging out they're going to be shut down but we're guessing quite a lot. the electricity 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 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 well the people who knew how to build one are either retired or decades since they built one

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 for or pushing up daisies so the united states has stands no chance in terms of exploiting the arctic along in terms of exploiting the arctic alongside russia which you know the arctic is thawing out so a lot of opportunities there and russia which you know the arctic is thawing out so a lot of opportunities there and the americans won't be able to make use of them not only is this american bigotry the americans will be able to make use of them not only is this american bigotry toward russia kind of circa soviet union times but them it toward russia kind of circa soviet union times but america perception of russia's financial prowess and manufacturing abilities arcus perception of

russia's financial prowess and manufacturing abilities etc are as also completely out of date i don't think people understand and accept or are as also completely out of date i don't think people understand that russia's economy has been thriving in no alongside china that russia's economy has been thriving in no alongside china . and this is the tragedy of all this is that there's just a. and 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 i looks like i'm watching 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 1950 s. there's been no updating to anyone's files over there see and russia soviet t.v. from the 1950 s. there's been no updating to anyone files over there c.n. be say and basically a.b. say they are living completely in the past they say and basically a.b.

say they are living completely in the past i want to kind of talk a little bit about these waves of economic protests but have i want to kind of talk a little bit about these waves of economic protests been happening across the world from chile france spain iraq lebanon haiti across the world from chile france spain iraq lebanon haiti mostly to do with austerity high prices economic mismanagement is there a mostly to do with austerity high prices economic mismanagement is there a bigger story going on here oh yes there's the whole industry in fomenting a bigger story going on here oh yes there's the whole industry in fomenting use revolt in various countries around the world it works through various use revolt in various countries around the world it works through various western n.g.o.s. social media companies are involved western n.g.o.s. social media companies are involves.

a lot of are throwing money at it this is a way a lot of are throwing money at it this is a way of flight ing economic backfires in order to trade any. flighting economic backfires in order to trade any extra cash towards the financial centers in london that washington so basically strip cash towards the financial centers in london that washington so basically if for it they would bomb a country and steal its gold they could to libya say if we. or they would bomb a country and steal its gold they did that to libya they did that to iraq. they stole the crates gold cetera. that to iraq. they stole your crates gold cetera just to basically prop up this western bubble economy scheme for a little further for a little just to basically prop up this 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 longer now they can't even afford to just do a bombing campaign so instead they sacrifice a young people off one country after another you know thinking that you know a young people of one country after another you know thinking that you know this is the meat generation not the milk generation because financially there's no this is the meat generation not 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 a way to milk these young 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 ice them and you know this is just a way of causing capital flight. knocking various economies out so that. knocking various economies out so that they can't compete

for increasingly scarce financial resort they can't compete for increasingly scarce financial resources. you know this is this is a very nasty thing that's going on it has. 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 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 their corruption corruption has been legalised it's called lobby rough country in the world. because their corruption corruption has been legalised it's coke lobby all other countries in the world are less corrupt than the united states so. all other countries in the world are less corrupt than the united states so western inspired anti corruption drugs here and there and everywhere you know affect us just drop it western inspired anti corruption drugs here and there and

everywhere you know effect that's just propaganda that's just a rabble rousing kind of approach when you and that's just a rabble rousing kind of approach when you say the us is the most corrupt nation you know i'd love to be able to argue that's not the case say the us is the most corrupt nation and 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 investing but then i remember jamie dimon over there j.p. morgan being prosecuted and investigated for racketeering and massive multi $100000000000.00 of fraud it's a gated for racketeering 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 and new york are the centers of this global corruption hard to argue what you're saying you know you mention that the financial centers london and new york are the centers

of this global corruption and i think about russia russia doesn't have that kind of financial sense and i think about russia russia doesn't have that kind of financial center is gotten it's kind of like divorcing itself from the it is gotten it's kind of like divorcing itself from the financial ization of the global economy by buying hundreds and hundreds of tough 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 items of gold you know. they're going 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 rely 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 partially gold backed currency or china has been speculating now with a gold back or partially 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 rated well now they've got 20000 tons of gold which is more than anyone understand that they have or might have is that is that going to be we you know you wrote the collapse gap or might have is 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 and 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 to death that's going to put the dollar into a fatal tailspin the death dive is that somebody is going to announce a gold backed currency dmitri i think the strive is that somebody is going to announce a gold backed currency dmitri i think the strategy both for russia or china is to let the americans do it oh gee both for russia or china is to let the americans do

it oh to themselves by themselves. i won't be anyone but to themselves by themselves. the won't be anyone but themselves to blame. the americans are following along with this program really i'm so to blame. they americans are following along with this program really well with a program of sept sanctions limiting people's access to dollar tree while with a program of sept sanctions limiting people's access to dollar transactions threatening to cut people off from the swift network for instance transactions threatening to cut people off from the swift network for instance they're basically a site of the branch on which they're perched they're doing that themselves no they're basically psyched for the 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 but he has to help them now what russia and china will do is

continue to do trade between the 2 countries and with other countries. between the 2 countries and with other countries. for imperius other trade consortia based on local currencies to. form various other trade consortia based on local currencies there is currency swaps will be backed by gold get gold guarantees if you will there is currency swaps will 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 just to stabilize things 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 proly all it's going to be and of course nobody is really interested in major financial destructions which will occur but they will be produced by the united states actual destructions which will occur but they will be

produced by the united states acting alone a money for a while and i know that background in engineering in a low a money for a while and i know that background in engineering you know when you think about this boeing 737 scandal the other plane. you know what you think about this. boeing 737 scandal the other plane they are outsourcing software to minimum wage workers in india while the executives are but they are outsourcing software to minimum wage workers in india while the executives are buying back billions of stock for themselves and making a killing and you know that seems pretty high back billions of stock for themselves and making a killing and you know that seems pretty corrupt to me did you take a look at that what it what do you think it's really miserable how corrupt to 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 states has as decayed and it's really engineering culture in

the united states has as decayed and it's it's really a question of who is in charge the businessman the financier's or the engineer a question of who is in charge the businessmen the financier's or the engineers and the whole mindset in the united states is you basically hired fire. the whole mindset in the united states is you basically hired fire edge nears as needed to do a particular job if you find an engineer who is cheaper sneers as needed to do a particular job if you find an engineer who is cheaper in india then you hire him even if other engineers will tell you that well in india then you hire him even if other engineers will tell you that well the level of competence is just the same it doesn't matter it's all about money 'd none of it have it's not the same 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 thus to do with the characteristics of

a physical systems of law and basically it's a prescription for disaster because money money meant do not understand basically it's a prescription for disaster because money money meant to not understand engineering to the extent needed you know to effectively manage it now with the chinese engineering to the extent need. you know to effectively manage it now with the chinese and the russians to stay promote engineers to point responsibility to the russians to your state promote engineers to point responsibility executives responsibility they don't just hire money to do that i love your executives responsibility 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 the point about milk and meat 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 are just x. generation les paul krugman one 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 they're meat be milking the the youth 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 in the case of the us all the student debt has forced the students now to go off for their meat as military conscripts to go fight people who offer their meat as military conscripts to go fight people there even know who they're fighting it's just a generic war that they go out until they're even who they're fighting it's just a generic war that they go out and try to pay back back their student debt and debt that that is certain endlessly earnestly that is sadly that getting passed but let me you know let me in again another engage an area another question ranch engineering confessed in a bit of interest in its eggs if you go into last august we trade stocks 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 there is no such thing existed and it had never been contemplated in the history of the world this is an engineer. something going on the financial engineers is an engineer. what is something going on the financial engineers here negative interest rates is it crazy when you think about this with negative interest rates will become this here negative interest rates isn't crazy when you think about this with negative interest rates will become these financial and to poach that hop around on their heads you know where case financial and to poach that hop around on their heads you know that we're paid to borrow we are fight for saving. it's need to borrow we are fight for saving. it's it's insane and it will go on for any length of time because it's insane and it will go on for any length of time because

basically the incentives for participating in any kind of a banking basically the incentives for participating in any kind of a banking scheme evaporate so the only thing you have left is kind of foreign scheme evaporate so the only thing you have left is kind of force like there is no cash you have to use your your credit card for every it's like there is no cash you have to use your your credit card for every saying. oh your body has to be within this financial institution which will saying. oh your body has to be within this financial institution which will slowly confiscated over time. co is going to go along with that scheme slowly because it had no hope for any length of time. but i cooked was with watson to sort of go to milan also but that that's it you know who for any 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 though 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 right now. you know they'll put a little bit of money at a time right now. you know the oco put put up which i took the time being but you know i did some like straight line projected up which i took the time being but you know i did some like straight project projections in terms of over lower interest rates. projections in terms of over lower interest rates. if you just like plotted out it turns out you know looks like we're going to have to just like plotted out it turns out you know 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've got to go i have ever more negative

interest rates that's what a lot of guests of ours are saying i'm gonna go quick question how long would it take me to grow a beard like that 3 years quick question how long would it take me to grow a beard like that 3 years thank you add to major for being on the kaiser report thank you well that's going to do it thank you adam h. and for being on the kaiser report thank you well that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert want to thank our guest amaechi all up for this edition of the kaiser report with me max kaiser and stacy herbert want to thank our guest amaechi orloff joining catch us on twitter it's kaiser report until next time by. mouth join to catch us on twitter it's kaiser report until next time by.

believing in weird things by the way it's called superstition or magical thinking. believing weird things by the way it's called superstition or magical thinking believing weird things like that is not a bug in the system it's a few believing weird things like a. it is not a bug in the system it's a feature that causes equipped in the software of our programming to treat your economies equipped in the software of our programming to try to connect things in the environment just in case there's a real connection. to connect things in the environment just in case there's a real connection.

with a snap election on the way to u.k. prime minister and leave. with a snap election on the way to u.k. prime minister and leader of the opposition clash over everything from russia and souls and u.s. designs on the of the opposition clash over everything from russian solsbury and u.s. designs on the n.h.s. . the democrats control the us housing and jets. the democrats control the u.s. house of representatives votes to move the trump impeachment inquiry to the next stage an open house of representatives votes to move the trump impeachment inquiry

to the next stage an open hearing the resolution was condemned by republicans as soviet style hearing the resolution was condemned by republicans as soviet style. and facebook suspends accounts it believes were russian. and facebook suspends accounts it believes were russian and involved with this information campaign in africa just a week off the most coastlines and involved in this information campaign in africa just a week off the most coastlines 1000000000 dollars deals with the continent. $1000000000.00 deals with the continent.