or just sit there waiting for something to happen or for it to go away because the system can't deal with it so we're going to look at some interesting stuff coming out now that the world health organization and the u.n. are saying what was obvious to many people were allowed to say it because before you would get the platform for mentioning what was obvious and that's part of the problem of why we have no adults in the room i were not allowed to have any conversations in this era where hillary lost in such a humiliating resound in defeat in 2016 a lot of people aren't allowed to say anything publicly anymore about very big sick things so 1st before i get to what johns hopkins university says about the situation globally regarding covert in particular the us and its failure to deal with it is that dr david nabarro of the world health organization special envoy on covert $1000.00 he was interviewed by andrew neil on spectator t.v. now and you know everybody knows was you know at the b.b.c. we had some huge shows like did some really powerful interviews and he talked to

this guy from the world health organization and basically dr david nabarro tells andrew neil we really do appeal to all world leaders stop using lockdown as your primary control method and his exact words are paraphrased say is that we at the world health organization do not advocate lockdowns as a primary means of control of this virus he the reason why he says that is because they predict a doubling of the poverty rate in the next 12 months and a doubling of childhood malnutrition so there are costs to our ramshackle lockdowns and our failure to stop this pandemic right there's the population as the negative interest rates we're forecasting you know in summer of 2019 but see what you're describing there what thought the came to my mind is that we in the united states. it's another countries don't do nuance very well it's

always very good right or wrong stop go it's not very subtle there are no shades there's no discretion there's no self autonomy and i think we're going to start talking about masks here in a 2nd and the thing about it is that there is an element of commonsense to it that is being completely overlooked because it's not something that can be dictated to in a purely by an airy black and white fashion and in. that confusion the vagueness is this growing problem it's just the fact that we no longer have adults in the room we're not allowed to have a conversation we can't have to be so you can't even discuss the u.n. itself says they said this back in june that 6000 infants a day are dying now because of malnutrition 2 to the absence of of

basically the u.n. and other organizations being able to deliver food and prenatal care to their mothers and stuff like that but if you say that then you get the platforms right because well you you want people to die in america like there's no discussion they will have that we have to look at the whole balance sheet of the world and our domestic economies and say well you know what's the reality here which is the truth and how do we proceed from here so like everybody has been saying that donald trump is responsible for the 200000 dead but the fact is america doesn't have the manufacturing capacity so even make p.-p. and that was from the beginning from day one we saw what was happening both on the federal level state level and local level why didn't we why were we unable to shut down well because we couldn't produce masks right we couldn't produce personal protection equipment that's why you still can see from those early days world health organization. and other sort of bodies like the c.d.c.

saying masks aren't necessary don't use mass because there was a shortage of them but they didn't want to openly say that i don't know whether it's they just didn't want to you know bureaucrats don't like to be looked like they're failures or that they didn't want to cause a panic i don't know but the fact is we didn't have any sort of honest discussion about the reality of our situation that we find ourselves and thanks to our absence of manufacturing thanks to our just in time delivery system thanks to our food system that delivers mass obesity to the population which is also leaves the population so vulnerable and huge effect a relatively high mortality rate in the u.s. for a while it comes to moral hazard you know when the pandemic 1st hit back in february the question i posed to the global audience was will this be a crisis sufficient enough to overrun the ability of central banks to paper over the crisis because for the last 30 years every crisis we've had whether it's

a market crash or the 2000 subprime crash or a hurricane or ecological or depopulation or wars always been met with paper printing by the central banks and as long as the interest rates keep going down there's no penalty for issuing all that paper as we've seen now for 40 years interest rates have gone down so now here we are in the end of the year the question again is is the kovac a crisis big enough to not be able to be fixed by central bank money printing and i think what we're discovering is that it is quite the answer is yes because now we're starting to see the bond market tick down we're starting to see interest rates go up if that 40 year bull market ends because of cove it that means that the global g.d.p. roughly 102110 trillion dollars will be cut in half. and what people around the

world are feeling as a result of this failure of paper money to fix the problem is they have a feeling kind of like they've contracted a flesh eating amoeba right so they see the part of their legs being destroyed by this flesh eating amoeba and the question always is do we cut it off do we do it take the leg off what do we take the leg off film going to cure it i wanted to let go well now it's up your hip they're saying oh no what how do we do it or do i cut my both my legs off and unfortunately the policy makers are aren't in a complete trance they're not acting their money printing isn't working and that's only thing they know how to do is there's no cure so this is you know i think could be the end of the bond bull market which has been more than 40 years in the making so let's look at what the new england journal of medicine says and they refer to some johns hopkins center for systems science and engineering and their data look at the data across the world and the title of this report is dying in a leadership vacuum basically says that the u.s.

leaders have taken a crisis and turned it into a tragedy and of course you can look at it federal state and local i mean look at new york city look at what new york did you know super resistance super democrat super like the smartest guys in the room and yet they also failed they had one of the highest rates of mortality in the united states the magnitude of the failure is astonishing according to the johns hopkins center for system science and engineering the united states leads the world in $1000.00 cases and deaths due to the disease far exceeding the numbers and much larger countries such as china the death rate in this country is more than double that of canada exceeds that of japan a country with a vulnerable and elderly population by a factor of almost 50 and even dwarfs the rates in lower middle income countries such as vietnam by a factor of almost 2000 covert 1000 is an overwhelming challenge in many factors contribute to this severity but the one we can control is how we behave and in the united states we have can. system really behaved poorly it's systemic at this point

it's almost 50 years of an all female age and we were the kings of this age and it left us very lazy and it left us ignorant we don't even know how things get produced anymore and that showed we we have an absence of expertise anymore you know everybody wants to be a celebrity politician and you know be as wealthy as nancy pelosi and be in power for decades where we don't have that sort of authority and expertise nobody wants to actually run i mean government that's so boring and tedious and just dull like low income compared to what you can do you know hanging out with lobbyist and stuff like that but you know when they point out that vietnam our mortality rate is 2000 times higher than they had of course you have to point out that vietnam is the number one country in the world with the least obesity so you know these are the sort of things we should be asking people lose of course as a clown show so they're not talking about well why does vietnam have the least

amount of obesity in the world and why are we we're not the highest that we're certainly in the top 10 percent so why you know how does that happen is that our food system is that in this industrial sludge we all eat like what is it so we're not having that remember the phrase disaster capitalism. there are a lot of good crisis go to waste i mean that was the arrogant montra of these obese political leaders who felt this keep printing money and no matter what the disaster befalls us we can always print more money and pocket it put it in our pockets of a lot of he just goes to 0 we just trouser all that cash while the cove it is just flipped out on its head and now the obese are going to lose those who are not abuse like the bay the maze looked like they could be weak winners of course we also like pushed out billions of $1.55 in the p.p.p. loans but it went through banks so something like 200000000000 never even got there . if the banks can even be bothered even though they've got to keep like

a huge percentage of it and then here we have the health insurance companies so they go on to say that we failed at almost every step and like in testing that they do more tests in zimbabwe kazakhstan and ethiopia than we do here because the profit right they don't they're not going to do it for it because of the public health emergency they have to do it pretend to do it they can't charge $10000.00 like they normally would because they don't get out of bed for less than $10000.00 a day right and those countries don't have meaningful central banks that they can just print all day long and print the money away they actually have to be responsible and they have to live within their means and they have to obey a basic rules of accounting speaking of accounting we have to account for the fact that a break just be taken right now and then we come back after this don't go away.

doesn't sell i just know that the feeling is doubled i'll just.

keep coming i want to make i wonder why it was not a good. leader we hope to be but there are here are some friends that the odds are still so but they're still real hoping to do something to see. the child for. they value about the life of the simple dollar the cell phone and i was able to put them on the back you double book and that.

room welcome back to the kaiser report i'm max kaiser time not to go to steve king author of debugging economic seas now living in thailand while riding out the storm of incompetency of covert policy across europe welcome back steve gain good to be sort of you and i have generally been well i want to get your perspective faris a thailand that many people are talking about thailand they have mostly eradicated cove it what is your life like in thailand or restaurants open molls shops is life relatively normal what did thailand do differently to amsterdam from what you fled stave well the law fish completely normal to next i mean it's just being out sokal right around a deep sokal pocky i was going to have dinner in july really supposed to talk to you instead you know what having walked inside the restaurant and show temperature

taken by an order ending the aussie. example tourists everybody's wearing a mask as they walk into the restaurant they sit down and take them off when they're eating i go to a gym nobody wears a mosque in sa the gymnasium you wear a mosque in public transport and that is very useful in case there is any community outbreak whatsoever they have been streets homes in the last 4 months when somebody has been in the country with coated 2 or breeches one was a mystery house after 100 days 0 cases occurred because of those because those people will mosques when they went into the you know shopping centers everybody in the shop you know where in the mosque so when people who can tell you just didn't possible under all the people so the grand total the number of people in thailand it's been good barebone its population is the same as the u.k. the 64000000 total number of people 3652 at least a 1000 of those. of concert carmen st john who deaths 50 not many countries in the

world have positioned this crisis as something of a 0 sum game you have to decide whether you want your economy to be working functionally or whether you want your citizens to be healthy is that true and that doesn't appear to be that case at all in thailand what one of these countries getting on stage well it's that basically realising this is a trick and judges disease that they're all the sorts of thing it's just the flu it's it's about 10 times as deadly as the flu and about 10 sponsors contagious and so if you're if you let one cats get into the community it's not the little what they call the odds are on which they give a series of one person in 63 it tends to be one person gets into a crowded venue in a fixed 300 or so that one tries to get in it just explodes and what tom and has done what taiwan has done about music almost destroyed mongolia

viet-nam they went for eradication and that means the high road will lock down well only the people who got essential jobs are working at it by a central jobs on and it will during surgery nurses and doctors. people making by sea food and doing food deliveries those are your essential industries you keep them you monitor and says those people rate their you know every every day you make sure no outbreaks occur and within 2 weeks if you do it strictly enough within 2 each going to notify the only groups that actually have been in months there is families and households of those for the transmission of that everybody else can go back to work again a couple of weeks off the bat and it's gone and that is pretty much what tom has done it wasn't quite that fosse but they broke the country down in their 860 foggles. districts nobody was allowed to travel between those districts without a good. and including

a note from the gulf going up so was only food delivery and so all that went between provinces alternately it was stamped out and it no longer exists in the country and if rest of the hold on that code would have been. is could have been as brief as a one of the hot months to 2 month process and it's and then nothing to our ego in the future because of this child abuse how often looked out from ponce of the west as don it's a process which is going on now for at least a year possibly 2 years kind of demonstrates a very different way of governing a nation. and style of governing a nation and i want to you know stacy herbert my son for came up with this kind of idea simultaneously interesting it's almost as if you know after world war 2 you had one country standing and you had essentially japan and been wiped out what wiped out europe had been white and the u.s.

was the winner of world war 2 and it went on to have what we call the american century and it was uniquely positioned for this the the american system of government in that the economy the people the character it all fit into place it seemed almost as if this coven 1000 crisis is a similar in that world war 2 and that now we've had this enormous global pandemic a global war of lobel crisis and as we head out from the crisis some countries were in a great position and they will lead the 21st century and some countries didn't approach it in a way that made any sense and they're going to be left behind so that the u.s. looks like it's going to be left behind in a country like china looks like this will be the chinese century coming up in that the covert exposed or revealed a system of government that was uniquely positioned unqualified to deal with this global crisis. your thoughts and. i think i'm going. way back in about february

been following this courtesy of writing christmas and some morning about the virus ending up with a treat the end of december. and i said at the sign that it was likely given the incredibly strong lock down the shot it did which was draconian i literally did well apartment building dollars shop so nobody could get out of the a pop and nothing to get in but as drastic as that was it meant they exterminated the virus very very rapidly and shot his total price count is about 90000 you compare that to americans coming up on a 1000000. it's incredible the effectiveness of a top down government with people do walk the government tells them to do it has got its authority all months of course but if you've been to china been there many times now people except in the sense i said there's a it is the state has a legitimate role in china as to saudi it's actually satanism as

a moderately benevolent big brother but you don't want to you don't want to be brothels dickens all the way mosques the way musts it's all one person can go it's one person and the result of that heavy handed approach is there are no no credit in shot at china's economy is now back and we're going again so it really is a sign that a strong state system is nor effective against what we face in front of office and what he will face in climate change the libertarian the sides the chicken way of america but also of course of europe right it's not about partisan politics either and yeah china's got an authoritarian government but the coven the crisis it weren't for them it's like i remember somebody it's all they want something some days or the windshield some days or the bug right it's just. you know if this thing happened then the us if the style doesn't work in a crisis like that. but china does and now they're really going to leapfrog into

the 21st century and that's just a statement of fact i mean it's not a partisan question really then. also supranational organizations like the world health organization you know they were talking about they expect lockdowns will double global poverty. they they came out against lockdowns they were initially have kind of a mixed message so again thailand as a sovereign country they kind of with their own way i don't think they listen to anybody except themselves and the world health organization doesn't seem to be particularly helpful steve now in the intro though because oceans become politicized like any of those international bodies ultimately and they're also constrained by the by their own financing good at the count's out of the americans to some extent initially they count out to the chinese as well when the chinese are downplaying the whole thing the child was. lucky to have the experience of solace

before hansen sometime around 2000 and that meant they had a public health system designed to handle and damage and then experience the many pandemic with sol's which they managed to erotica but that meant they were prepared if something like this now the west's at the same knowledge we know that you're in the bahamas there was the war got into the and then it there was dependent unit set up on the say they say which truck abolished to save money because hey in august people lighting when you need them conscious that's why only 210000 americans have dogs. so it is preparedness it's awareness that you're going to need something which needs croydon notion and it's a community a community which in general accept that because of saying yes with assad's and of gender in general cynic says success of public health so with the gotten about a good public health public health and truth the west which won the game not is in the not in thirty's and without it we'd have thought. we'd have all we are would

have all these different diseases we've managed to radek by public health care plans and in that sense the american whole system was uniquely suited sile because it cost you money to get anything done and therefore you don't get it and therefore you infect your friends and your family and your work associates it's a classic case of where the limits here in philosophy america is suited to the days of cowboy capitalism not capitalism and now we're in a very very crowded space ship and that central control is much more effective the same country that went into hyper production of bombers and tanks and although our 2 can not menu facts are masks i mean them a lot right there so now going back to 2009 steve king you came up with this concept juhi for the people all and that was not what happened in seoul the billionaires made hundreds and hundreds of billions more now here we are in 2020

and we've got effectively for the people in gyp's and drabs and programs and different ways to inject capital into the economy directly from the fed we hear but is it too late now because the economy especially as the cause of a crisis as revealed seems erap rable so are these efforts going to have any impact at all now they would have in 2009 but now is 2020 but it might be too late your thoughts dave not think it's something we can still do it max and dimming the hof like stuff that has been dumb has made the situation far better than it would have been without the 600 doubles a week americans got for a short while was actually using dos commented on your show some time ago a boost of the income for a lot of families actually saved more money and spent more because it was hard on the wages they were getting the enigma economy but at the same phone they've got rent they have to do you have some old mortgage holidays roll happens is the bank dispose. your payments but adds the money to the principal and then shot year

additional interest on that additional principal when and if we ever get out of it if we have to get a vaccine if we can go back to something resembling a pretty pandemic seriously plenty of people to go bankrupt because the momo gets to go back and now they've lost their jobs they don't have. the rent they'll get it if it's of holding what could happen as the financial fallout from so it is now of more tom than ever what i call the modern digital and the interesting thing at least crowded shows this thing this also cool because the style of government spending and deficits is spock reisa than anybody would have contemplated in the uk that saw him but broaden the sky thing for when it stopped scott from forgetting let's keep on going let's do a modern digital it's a rich use debt levels to one. which would be roughly sustainable the rights to a route sign up thanks ben on cars report thank you matt all right that's going to

do it for this edition of kaiser a far with a nice keyser and stacey herbert like to thank our guest dave king you can find his work at paid 3 on dot com forward slash profits steve king until next time. it's sort of amazing country with we were so many friends in russia and i'm very excited to be here. i love that idea i think i can do the. differing nice to make a lot of money with. hundreds of.

here is not. a great wall and nobody builds a lot better than me and i'll build a very inexpensive like a great great wall. 'd just in case you're worried about who's going to pay for it mexico will pay for. it we'll see what happens. i always say who knows what we'll see on the field it will be a success. because they give me my best made up with them he said. just that. i like. there's an awful lot in common i'm old but i'm also the most companies you know so i've been

a kid who says he plays when i meet. his compass he most people almost janish even though he goes from didn't you notice him to see you see his pro you struggle. with them and i'm going to hit a safe enough to let me see him in the little. i don't like kind of this. little kid is he. always stay in the local to your list. so to you. so no men because here. when you look back you know it's it's been 153 years since emancipation and when you look at it's been 400 years right since black people have been in the us to extract in their labor for the construction of the country. and then you think that

black people on about 2 percent of us well and are disproportionately high is kind of worried almost everything that's negative i just don't see that that i don't see how anybody anywhere it could find that is as a when. americans love. this was a fundamental part of how our political leadership and our country a large understood the bargain you get a hope and then you know rebel right as the things you don't revolt if you have a stake in the system. be really interesting to dial it back and think about the longer deeper history housings men in the united states not just that question of the american dream but the bigger question of who the dream is for.

the suspect who beheaded a teacher in france or if they were to be an 18 year old chechen the man who was born in moscow and had been living in france as a refugee he was shot dead by police in the crime scene. standing in one of the crates is left by the bombardment it's about 8 pieces in diameter. continues between armenia and azerbaijan over them to go and i cut it back despite both sides agreeing to a cease fire. meanwhile shells have also writing down on areas away from the disputed territory with civilian casualties.