we are in the 2nd quarter of 2021 and it's showing up because one of the primary reason for getting inflation here is the degree level is ation that has put american china on an antagonistic footing we've got a new cold war here and all the benefits that came to the u.s. economy by shipping all of our jobs over to china. it has now been used up right so now because there's some antagonism and because incomes in china have now match those of us the is the us. that ability to hide the money printing through the labor strength of china is gone so now you've got prices going up for real for stuff like lumber and that's if the fed says it's transitory. i'm here to say that's a categorically a lie because unless unless globalisation picks up again unless china and america start singing kumbaya together and everything is all katie now shaky now jakey

that's the. well remember we were covering in the last episode like the boom in g.d.p. and consumption and stuff like that you have to factor in these costs like inflation baked into there so if house prices are up 36 $1000.00 if that's up over 15 percent you know that's also factored into those numbers so you're starting to see all that inflation and all of the numbers and it's not just lumber as they point out prices of gypsum which is drywall are up nearly 7 percent for me ergo steel mill product prices are at a record high up nearly 18 percent and march year over year it's used for being sheet metal products and wiring and the price of copper also set a record high this month and it's 27 percent year to date i remember discussing copper prices that were soaring back in the 20082009 financial crisis and that was also part of that supply chains getting knocked out during the global financial

crisis during you know it was a liquidity crisis credit crisis because nobody wanted to lend to each other so the cost of shipping across the world soared now the shipping costs are and freight costs are soaring because of you know the fact that the u.s. economy still shut down and only china is open but the u.s. economy. the consumers have so much money now that they're buying all these things and this is despite the number of tariffs are still there that trump introduced so despite that the force the like they're paying any price and will factor is always mentioned that by the way on wall street dot com that this is a mindset change a psychological change is that usually for the past 20 years like prices go up like this and people stop spending but there is that hyper inflationary mindset is like they have to get something while they still can maybe they're also signaling they see they understand the deal ization is coming so you know we might as well get a laundry and new launch machine now while we can because you know it might take

a few years for factories to set up in america or saw an alternative to emerge right and the inflation numbers are understated not for the reasons that we've talked about like the absence of including things like health care and education and housing and the official c.p.i. numbers the government still says inflation's at 1.6 percent because they're trying to make it easier to lend money to warren buffett at 0 percent even though they know i'm sure that it's running at 789 percent but then when you factor in shrink so a lot of people are noticing that they're 16 ounce beef is the same price but it's only $12.00 ounce that the. bars from switzerland are missing some of a little pieces of the candy bar right this shrink slice and the prices are the same but you're getting 102030 percent less on the package so he had that together that's that's you now you're talking 20 percent inflation yeah but even the

government the fed the fed numbers they did come out and say that the c.p.i. did jump but it's transitory and it's over 3 and a half percent now so they are a signal it was a pretty huge jump. in terms of the situation we find ourselves and and so we have the house prices going up. he says some domestic wealth effect and you know versus all that money the stimulus checks that we're sending to china but here's another interesting data point and chart that i saw this week that is part of that decomposition which is the through 33 cities track that we talk about 1 all the time that when a rising nation starts to overtake the previous big power china overtaking the u.s. well you see that in the numbers and you see that i mean if you trace the hostility between the 2 nations actually also with this and that is and 2019 the number of chinese firms in the fortune 500 over took the number of american for the

1st time the number of american firms so here's the data going back to 1905 when there is there are 0 and then we elevated them to the deputy 0 favored nation status and you could see that china is now has more bigger companies than american ones to be fair you know the article that they're linking to points out that a lot of them are state owned enterprises kind of like fannie mae freddie mac's sort of situation where they're getting a lot of backing from the government and then on the other hand in their defense you know dan collins is often pointing out that especially in the financial services sector if and financial and other giants alibaba pay and they're starting to compete with you know the state enterprise or they were in jack ma then things got went silent for some reason yes comical because it relates to statements from the white house and in washington the saying that you know. that sounds like

antagonistic toward china like the like but but they're just listing companies on the exchange and now they're the huge component of the exchange it's really comical because they have the policymakers in d.c. i they're there they don't know what they're doing they're stupid or they're in the . some foreign powers well 8 like i said at the top there are lots of people moused squatting in their homes and they haven't paid their mortgages or their rent for the past year and pretty much you if you listened in on them they would have they would justify it by hating the landlords of the landlord doesn't deserve their money the landlord is the scum the landlord is the evil person and they justify it same thing here in the debtor owes this creditor money and you know they become like that doesn't deserve my money that you know the same sort they're basically they're becoming like anti-globalization activists they don't want to they don't have to pay the money that they owe and you have to turn the person you owe money

into the bad guy that's the way it happens and then like i've been costello they hated mr fields until it was their landlord yet oh you got biden and powell are like the new abbott and costello like. how come we're broke you know and they're like i don't know jackie gleason and you know it's just a sitcom basically so america's got a sitcom for government sadly but also comically i think is actually the best move to make is like to try to extend it pretend for this thing if the fiesta is going to collapse you might as well you know act like a few puffy you're going to pay them one day but you know you know just keep sending me those goods and i'll pay you one day you know just like act like a comic why do you want to be from popeye for a hamburger today i'll pay you next tuesday best guess joe biden a china send us over another 50000 container ships full of stuff and we'll pay you next tuesday hey max everybody if we know the system is about to end they know the

system is about to end they're going to but if somebody sending you essentially free goods. he got to keep it going right like he got it yes sure list your companies on our side sure bring it over here like you do whatever you can to let make sure the landlord lets you stay another month for free so the us is our side say squatters in the world economy yeah why not like if it's over i would do that that's my opinion that's what i would do i would get to take as much free ranch as i possibly could and that's what they're doing us borrowed short term money for free for the 1st time since march 2024 week rates on bills are now the most negative since the height of the pandemic with the us paying down short term debt and investors looking to park record amounts of cash was very important because in other words they say that there is deflation and they say interest rates need to be near 0 percent because we need we need to do whatever we can to stimulate this more

about the economy where the interest rates are so low but that's the to to face lie because there is huge inflation and there are the rates should be going up aggressively like say as paul volcker did in the seventy's to stem the inflation that's a way to run an economy but to have the worst of both worlds and say we're going to have hyperinflation take off while we're keeping jamie diamond's free open money spigot from the fed at 0 percent and warren buffett and jolly monger right that's the recipe for otter fricke them collapse a low does anyone care yeah on the one hand a signaling deflation but on the other hand it's also a signaling that banks like j.p. morgan don't want to lend to ordinary investor ordinary small businesses because they know those are going to be crushed perhaps in biden's tax blunder because the megacorporations well and it's also perhaps showing 'd that inflation is even going to get worse because you know probably this is the fed just buying the treasuries

you know debt like it's just the banana republican is and we've covered that with it's happening in canada it's happening. and they and european union and so it's just that it's the same thing it's more q.e. it's more a shenanigans it's more destruction of price signals. it's maybe testing the waters because they had always been argued that you know the u.s. can't go negative because people will otherwise the dollar will die so you know that's my assessment all right cook one going to take a break they will they come back once more coming your way.

and this is. and we are on the union forms like yes i'll sit down. and rationally when there.

is that israel agreed. the theme. of the new doc awesome place now which. is a. small fortune in the beginning to your. fortune for the automobile not about this more than exorcist financial.

welcome back to the kaiser report it's time now to turn to the last man in new york city fire stein let's welcome you sure have a rash. all right now you wrote a book called plan a ponzi lots of cars says was a breakout international best seller and now are at living a plan a ponzi everything is a plan a ponzi just like you predicted. the people love it incomes are up 21 percent just on the transfer payments from the feds printing money stock markets are ending all time highs annual consumer spending the most ever met now. it looks like the wrong twenty's or am i missing something or what's going on if we are 1920 you know or like it's $999.00 max every financial crisis from the beginning of time has

happened for the same reason you much debt too much credit do you much leverage and we discuss this implant now the revolving door between washington and wall street is wide open these are not just bottles we're seeing it's a scene it's created a media a media in every market unlike what we've ever seen before we've got a combination between the governments and corporations or ideological fascists that are running the country truth no longer matters we have comedians marshalling the narrative we have state money printing shakes federal reserve shake economic data shake sure it shrinks lieschen shape media fake hollywood democracy and fake justice system so where the truth no longer matters in silicon valley the oligarchs are the people who are pulling all the strings on behalf of china you have a big problem because eventually people are going to start to get shut out with this because they realize they're being lightship you can only fool some of the

people some let's. not all the time and the scenes about it all in these bottles are about. right you know you hit on something very interesting going back to the 1920 s. of course we had a mania in the stock market and it crashed and it ushered in the depression but we have something kind of a new sense then you know starting in the 1980 s. and then gathering speed for decades we had the securitization of everything in the economy everything that had an income or a yield attached to it was packaged turned into a bond sold i posit kate it sold again so we have a situation which is different than the twenty's and that is not just a stock or even maybe the bond market in a manic bubble but everything's in a bubble like lumber prices $36000.00 added to a cost of a new home just in the last year because lumber because it's been securitized

because then financial ised as part of the ponzi planet ponzi is racing ahead out of control prices are up 15 percent in the u.s. nearly 40 percent in canada for houses compared to the subprime crash or whatever incomes are now up interest rates that are an all time low fed is buying up the mortgage backed securities so they it looks like the twenty's but it actually structurally it's a lot worse than the 1920. 0 yes max it's definitely worse and this is going to definitely end extremely badly for everybody we share a money printing and thinking and energy magic money tree or modern monetary hearing education will give care to engineer quantities of money without hyperinflation will remission cation is just we must use our thing i've ever heard in my life well actually this is for us dollar generally is tiny jane and china will probably come up with some kind of commodities along we live on cheap other

countries we can exchange well commodities fungible exchange or. our gold oil some kind of basket of commodities because printing paper that's absolutely worthless the young people are going to realize this is worthless want to buy and eventually we'll have wires shrike here and have bonded get it armageddon in the bom all its which we haven't seen here because you seemed out there she pulling along and listening to the narratives we need to get. people realizing this is the biggest ponzi scheme in history now the book that i wrote obviously was a little it wants time but everything in it is still holds a new regime is ready to blow right all side by china for a 2nd imagine that you know china still takes our paper money people still buy stuff that money ends up going to china you know the incomes in america in the last few years on from 1000 china $24.00 china's

a 5 trillion dollar increase based on transfer payments that is the same money printing from the fed and of course i went out and bought stuff at wal-mart other big box stores which made just one over to china so china still accepting the paper money from america and the question is. is the one that just going to say we're not going to take that money any more. concurrently i have a part of this question is that half of the fortune 500 now in the u.s. or china. competence so is their game plan the kind of play possum they say will take your funny money and will going to buy half of the s. and p. $500.00 until such time as a.o.l. the s. and p. $500.00 and then we will take your funny money more what's going on that's. the genuine it isn't the dollar and i think they will come out with a terrible currency to replace the dollar i think let me you ask as errors is very much a one party system and they need equal they want tried was so they want it you tried

in the democrats. while the biggest blunder in economic system you have in that state was china and the oligarchs it. went to this government and what he wants changed twitter google censor america if you want cheering 1000000000 new customers in china and here in china it's all in chains while you're right the same thing with. china rock and then we are quo and he's moved everything and no china will. probably one who are without a shot being fired is nobody to sions are purchased by china nobody and i sitting on your program of years of the chinese the issue russia's land issue was so what's your problem in china is nobody as we. you know it's a thing because the wrong enter into schrade you make a comment like new zealand english live by cash and the rest.

we just won't use you need to do now and it's very difficult to get cheney stealing bonuses cashing now thank them then at some point fannie mae and freddie mac. could be sold to china and then china would be america's biggest landlord and that my rang some bells or maybe not speaking of having people's bell rung joe biden wants to raise corporate taxes to 28 percent from 21 percent and double the capital gains tax to over 40 percent. this is a sound like a wedding formula to compete with china mats what do you think. i don't know i don't think he's running the show i don't know if he knows what's going on it he bernie sanders 'd and in kamala harris and a.b.c. that are behind the scenes here he's going to end in disaster because the economy is not better the count there is no recovery it's a steady recovery just like we have the shake shrinks lation and there are lying

about the inflation numbers the employment numbers all you have is the gene money and this money is needed look like there's an easy as good as it gets beginning of this year was 'd as good as you're going to see everything's going to have a wish it is decline from now on and raising taxes it is going to what you will of this fire may things worse because it doesn't help profits it doesn't help we're not we don't have part to video we have this money from in order for an economy to strive we need to make products for making nothing standing many of us will get sustain this ridiculous farcical worry that the federal reserve claims that we have right now warren buffett underperformed the s. and p. 500 for the past 20 heiress and charlie munger now say that it is it. not fear what's not only quote disgusting but i threats in the interest of civilization. think it's a greater threat charlie munger innisfail or because i'm.

janet yellen running the treasury is a bigger threat than all of them i mean look she can get it right it shall reserve i did a presentation in switzerland. and there are a couple slides here's one of them about general yellen is use at the central bank machine instruction in central banks right now she's paid $8000000.00. lobbying organizations in big i guess that's where she got the issue a treasury issue she looking out for she's already said she's going to declare war on because we won't know exactly what that means but as i've said many times a little more going on is an alternative asset class we've all to use externally high and it's i think it's why narration if you go to a 1000000 or you go to 0 and so people should have it worse it is in there or only one should be part of it they shouldn't we shouldn't why into any investment if they can afford to lose money on it in the short term because there's no guarantees

wondering you can tell you is that valuations in the stock market in apple if you want 4 trillion in these companies that are violating your chain dollars just the most bizarre thing we history of this universe the same thing you can tesla it's never made a profit you know profit selling. and they make profits we've. trading big we're going to do other things we're not selling paul's which is the primary business you all must himself a $100000000000.00 it has made a $100000000000.00 in in calendar 2020 and this is an indication that machine and roth is the. let's turn engine media iowa take a while digression here you know because i'm ilya français we have a lot of chats and stuff song i go with us so you're a new yorker i'm a new yorker and the news that they have on moscow's case saturday night live was as a new yorker thing. because the cast members panicked and suggest they wouldn't be

on the show for some salsa justice farrior fang lots are exactly what. but is that doesn't that kind of say no to us it does to me that america in a new york is kind of the cultural center of america has lost its mojo like this is so sad mitch what are your thoughts. well look i think you got the social justice they don't understand that there's a difference between justice in terms of and justice for all and dinners and liberty and in terms of democracy and social justice this is just you know what happens when you have 40 years of indoctrination in school system and its interest in shock it rather than corporations it was there we should jackson you were raised in charge of the e.p.a. all existed in the e.t.n. well obamacare was apple's she's all these people you know it's part of washington

and wall street it's like a revolving door so they go to regimes like apple in the wrong policies nearest your be able oh now it's all about social justice and is it any and my shower if you will last is going to be on saturday night live while he was away and he's one of the richest owners in the rule will his empire come crumbling down he used the internet to get worry is used on social media it's all is smoke and mirrors in walk ins crashing down when a lot of people large michael's like and a cough from the asses say. that the answer as thing anyway we got to wrap it up minutes now several sam person again thanks for being on the cars report . for i was going to death us a test not the kaiser report with mayor max foster and stays there but want to thank our guest misfires time author of plan a ponzi and so much time by the. elderly

forward to talking to you all that technology should work for people. like a robot must obey the orders given it by human beings except when such orders that conflict with the 1st law show your identification or should be very careful about artificial intelligence to the point only a screen is. grace trusts the shia. conflict areas chozen with artificial intelligence will summon the demon. the obama must protect its own existence as a makeshift. credit if you will work for you to put up with the church. going to grow the agency of

major womanhood. to keep the interest. of course next you through you that i see no reason to because i have my think if you. wish old to fish not go for the beautiful bill and want to be sure that it is the deeds of the sea to the shore a small bubble will respond to us wishing the she beautiful welcome all the before school that wants this issue of. the will for the privilege. is what the story could give to the beat and if we have to much of what you mean yes the. door mamma does a shade but they say you can be when you get out of the scott. peterson your chicago's threesome recently lost what she has a mistress. ah

ah. ah ah. ah ah you while give easy val find this us. and we are. all union so one slide yes south. crash a south florida. designer all of them need the feeling. that the new doc was on my. watch. i put on the zimmer. systems that i'm sure saw to the system. as a small fortune in the beginning to your. fortune very outnumbered a lot about it. more than an act of such financial.

research you had to go so you are good in each. other than the human friends who want to. make that on the but i reserve going to the book on useless all that business i'm just. instead of being. me emotional running t.v. i'm not just do i feel story a stock or even i suppose in the course of your new year which muses jim but i'm sure mr slocum. apricot chill the fuck should. move will settle into business compassion and that. we think he minds be soviet soldiers because off the boots he's wearing. to church so much the sold out so can move the apostle the poor more than will be done you'll like it

i'll be sure stuck with summarizing the story is forced to just hold up. in this weekend's headlines france but the schools are using awoke 1st of the french language that supporters say avoid sexism people are bitterly. whether or not reforms are needed. we must include everyone for me it's a bit bland the issue of sexism in writing is something you have to take into account cities as useful as it complicates beach over $200.00 are injured in clashes in jerusalem among them a cameraman and working for a video. with a day to go till its annual victory parade will join rehearsals in the skies above the russian capital.