thinks. we dare to ask. fellow i'm max kaiser this is the kaiser report you know going to talk about code but before we do it i just want to point out that before we said on the show that negative interest rates were telegraphing something global and the population. wow we were right didn't know exactly what it would be having said that i'm now going to throw to stacey herbert because she is packed in here i want to

check in now so what the audience can understand what you were saying is last year around june of july of 29 you asked royce of gold money dot com how on earth negative interest rates could ever exist because never in history had that happened and he said the one thing it could possibly be suggesting is huge decline in population whether through choice that people just decide not to have children or a pandemic then it would make sense you know a lot of our system is quite massed up and we just refuse to where we have so many sunk costs right that we can't really change course the globe is orchestrated with the infrastructure of finance and banking and geo economics and globalization and trade is all engineered for just in time so there's a kind of inertia that happens when something like a black swan arrives like

a pandemic and we all are 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 un 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 u.s. and its failure to deal with it is that dr david nabarro of the world health organization. boy uncoated 1000 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 in his exact words or paraphrased i'll 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 is the population as the negative interest rates for forecasting you know in summer of 2019 but see what you're describing there what thought that came to my mind is that

we in the united states and other countries don't do nuance very well it's always very good bad right wrong stop go and 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 binary black and white fashion and in the 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 even discuss the un itself says they said this back in june that $6000.00 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 platform to write because well you you want people to die in america like there's no discussion able to 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 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 relatively high mortality rate in the u.s. comes to moral hazard you know in the pandemic 1st set back in february the question i pose. 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 of gone down so now here we are in the end of the year the question again is is the cove in 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 in 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 that part of their leg is 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 when we take the leg off l going to cure it i want you to lay a while now it's up to your hip and you're saying oh no what now what way do i go i cut my both my legs off and it's 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 that they know how to do and there's no cure so this is you know i think could be the end of the bond bull market which has been for 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 to. 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 us 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 the 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 2019 is an overwhelming challenge in many factors contribute to

this severity but the one we can control is how we behave and then the united states we have consistently 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 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 the vietnam our mortality rate is 2000 times higher than they had of course you have to point out that vietnam is the number 1. 1 country in the world with the least obesity so you know these are the sort of things we should be asking but cable news of course is

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 like 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 and there were 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 the falls of us we can always print more money and pocket it put it in our pockets velocity just goes to 0 we just trouser all that cash well now cove it is just flipped on its head and now the obese are going to lose and those who are not abuse like them in 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 $200000000000.00 never even got there because the banks couldn't even be bothered even though they 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 in life 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 but 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 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 post be taken right now. and then they come back after this don't go away.

look. ok let's just say no but the bill is doubled i'll just. keep on going to one mccain i wonder why it's why you know. all of the. elite we hope to be but they're here are some friends that the us are still so but the soul feel hoping to do something to see. which. they

value about them and something i think i'll allow myself a little and i was able to put them on the back of a look at how. i . 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 a really good one i want to get your perspective ferris the thailand that many people are talking about thailand they have mostly eradicated cove it what is

your life like in thailand are restaurants open molls shops is life relatively normal what did thailand do differently to absa down from what you fled stave well it's a lot fish completely normal to max 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 standing the aussie. example tourists everybody's wearing a mask as they walk into the restaurant they sit down and say i'm 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 coded 2 or quarantine breaches 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 even people who can tell you just didn't possible under all the people so the grand total number of people in thailand it's been good barebone its population is the same as the u.k. of 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 steve well it's that basically realizing this is that ultra contagious disease that there are all the sorts of limits and the 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're late 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 infects 3 it tends to be one person gets into a crowded venue in a fixed $300.00 or so that one tries to get in it just explodes and watan and has done what taiwan has done about musial and almost destroyed mongolia they had now they went for eradication and that means a high total lockdown well only the people who got essential jobs are working at it by 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 your monitor and says those people there 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 group that actually having a month's 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 of that 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 $860.00 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 salt. provinces alternately it was stamped out and it no longer exists in the country and if rest of the hold on that because it 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. often looked down upon so the west has done its cross 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 it was 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 and 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 they 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 and that the covert exposed or revealed a system of government that was uniquely positioned unqualified to deal with this global crisis. we are thoughts and. i think i'm going. way back in about february been following this courtesy of reading 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 one 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

$90000.00 you compare that to america's coming up on a 1000000. it's incredible the effectiveness of a top down government with people do want the government tells them to do it has got its authority all months of course but if you've been to china i've 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 is to saudi it's actually satanism as a moderately benevolent big brother but you don't want to you don't want to be brought up the dickens all who have lost. 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 u.s. 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 out of the americans to some extent initially that counts out to the chinese as well when the chinese are downplaying the whole thing the child is. lucky to have the experience of solids before hansen sometime around 2000 and that meant they had a public health system designed to handle and emmett's and then experience the many pandemic with sol's which they managed to radhika 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 endemic 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 conch that's why only 210000 americans have dogs

. so it is preparedness it's awareness that you're going to need something which needs coordination and it's a community a community which in general accept that because of staying 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 through 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 the different diseases we've managed to radek by public health campaigns 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 man you 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 it crisis has revealed seems erap rable so are these efforts going to have any impact at all now they would have in 2009 but now it's 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 the americans got for a short while i 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're getting they're in it to economy but at the same tom they've got rent they have to do you have some old mortgage holidays roll happens is the bank dispose. your payments but it adds the money to the principal and then shot year additional interest on the 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 area plenty of able to go bankrupt because the momo gets set on the back and now that lost their jobs they don't have. the rent will get it if it's upholding what could happen as the financial fallout from coke so it is now of more

time than ever what i call the modern digital and the interesting thing at least probing shows this in this also cool because the sky of government spending and deficits is spock russia than anybody would have contemplated in the uk it's all i'm but problem the sky thing fall when it stopped the scar from forming and let's keep on going let's do a modern digital it's a route used at levels to one. which would be roughly sustainable the rights to a route of time thanks ran on cars report thank you matt all right that's going to do it for this edition of kaiser if are with me max kaiser and stacy 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 by al.

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