as very few people. who haven't been paying their mortgage for the past year or their rent to the landlord don't think there are moratoriums on kicking them out so they're stuck in there so this shows up in the the supply the actual supply why there's a record number of people trying to build new houses because there's a shortage of supply of previously owned homes there is a major shift in the market's composition due to the record shortage of existing homes available about one in 4 homes for sale are now newly built the highest share ever historically new homes make up just about one in 10 a fierce buyer competition is behind that shift prices for a new and existing homes are at record highs for a member when we did our 1st show of the year we named 3 things for 2021 degree level ization dollars ation china fixation now here we are in the 2nd quarter of

2021 and it's showing up because one of the primary reasons for getting inflation here is the degree level is ation that has put america and 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 use 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 not the fed says this transitory attempt i'm here to say that's a categorically a lie because unless unless globalisation picks up again unless but china and america start singing kumbaya together and everything's all katie now shaky now jakey that. 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 of baked into there so if house prices are up 30 $6000.00 if that's 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 dry wall 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 lumber tariffs are still there that trump and should do so despite that the force the like they're paying any price and will for sure is always mentioned that by the way on wall street i found 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 why d. globalization 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 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 their 16 ounce beef is the same price but it's only $12.00 ounce that the. bars from switzerland are missing some of the little pieces of the candy bar right as 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 safe it was a pretty huge jump but 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 33 cities trap that we talk about all the time that when a rising nation starts to overtake the previous big power. overtaken the u.s. well you see that and 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 i was there oh 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 and financial and other giants alibaba pay and they're started to compete with you know the state enterprise or they were and jack ma then think you got went silent for some reason yes comical because it could save us from the white house and in washington the saying that you know. that sounds like antagonistic

toward china like the bike 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 a policy makers in d.c. say 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 landlord that 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 and you know the same started there 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 and billy was their landlord yet biden and powell are like the new abbott and costello like abbott how come over bro you know they're like i don't know jackie gleason and you know it's just a sitcom basically so america's guy a sitcom for government shadley 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 fia system is going to collapse you might as well you know act like huffy 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 no you won't be from popeye for a hamburger today i'll pay you next tuesday that's joe biden china send us over another 50000 container ships full of stuff and we'll pay you 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 i 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 are such a 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 take as much free rent as i possibly could and that's what they're doing the u.s. 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 endemic 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 2 faced lie because there is a huge inflation and there are the rates should be going up aggressively by state as paul volcker did in the seventy's to stem the inflation that's the way you run an economy but to have the worst of both worlds and say we're going to hyperinflation take off while we're keeping jamie diamond free open money spigot from the fed at 0 percent who want often jolly mongar right that's the recipe for odder for them collapse a low does anyone care yeah on the one hand is signaling deflation but on the other hand it's also 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's 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 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 cool we're going to take a break they will they come back once more coming your way.

but if you work for the team from both of those with interest. to do go there to be a major overhaul for social slawson just to keep the influence your. fortune if you still use the thing though is reasonable because a lot of my think if you get. pleasure who fish not go for anything before bill and water should then it is the day to be said to that issue a small boost from the us was the she. was the more the bull would scold once this issue will. go off if truly. thought out the story could get to be it and if we did so by yes of much interest but should mean yes if what other ceased door rama was

a shade but they say you can be when you get out of the sky. it's nice and you're sure could use the recent research on what should his mistress. welcome back to the geyser report it's time now to turn the last man in new york city fire stein let's welcome you for having rash rages here all right now you wrote a book called plan a ponzi what's a car 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 it's the people love it so 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 it's 1920 you know party like it's 999 max every financial crisis from the beginning of time has happened for the same reason you much debt too much credit she must leverage and we discuss this in play it now a revolving door between washington and wall street is wide open these are not just what was a risky 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 of corporations or ideological fascists that are running the country truth no longer matters we have comedians marshalling the narrative we have to take money printing fake sugar reserve shake economic data shake sure it shrinks lation 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 of the. not all the people oh tarnished kanzi scenes about it all in these bubbles 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 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 hypothecated 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 plan a ponzi is racing ahead out of control prices are up 15 percent in the us nearly 40 percent in canada for houses compared to the subprime crash or whatever incomes are now up interest rates are at 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 is she money printing and getting m. and g. magic money tree or modern monetary syria your agent will turn to engineer quantities

of money even that hyperinflation will ramification is just the most it's our thing i've ever heard of in my whole life. and said this is for us dollar genovese to me jane and china will probably come up with any kind of commodities along we will own shit other countries with an exchange well commodities fungible exchange or i don't know who our gold oil some kind of basket of commodities because printing paper it's absolutely worthless to me and people are going to realize this is worthless we're going to buy goods and eventually we'll have a bond wires strike here and have. bonded get armageddon in the bomb or it's what you haven't seen here because you seemed out there she pulling along and listening to the narrative she's going to get. when people realize it is the biggest ponzi scheme in history you know the book that i wrote obviously it was a little what's time but everything in it still holds the news ponzi scheme is

ready to blow right all started 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 fair one from $1000.00 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 they went out and bought stuff at wal-mart other big box stores which means it just went over to china so china still accepting the paper money from america and the question is. is the one they 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. yes companies so as their game plan the kind of play possum they say well take your funny money and we're going to buy half of the s. and p. $500.00 until such time as a on the s. and p.

$500.00 and then we will take your funny money more what's going on that's all i repeat i don't think jan you can it isn't the dollar but i think they will come out with a parallel currency to replace the dollar i think you asked as has is very much a one party system and they made their mark try to was so they want it you tried them in the rats fighting in the jungle while the biggest plunder and economic system you have china and the oligarchs in. point of this better than anybody else shares twitter google censor america they want cheering 1000000000 new customers in china in here in china's in chains while you're right singing with. china rock and then with aqua and asian dairy thing and no china will has probably one who are without a shot being fired is nobody titian's or purchased by china nobody and i standing

on your program of yours are the chinese the issue russia's line issue was. problem in china is nobody as we. you know it's a thing because they're all in your interest rate you make a comment like new zealand english live by cash and now the rest of. this news you need to do now and it's very difficult because cheney is throwing bundles of cash. now 2nd 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 think he knows what's going on if he really sanders and in kamala harris to a.b.c. that are behind the scenes here easier to end in disaster because the economy is not better you can't there is no recovery it's just a recovery just like we have the shake shrinks lation and there you are lying about the engine the employment numbers all you have is the engine money and this money has made it look like there's an easy is good as it gets beginning of this year was as good as you're going to see everything's going to have a precipitous decline from now on and raising taxes is going to you will of fire made things worse because it doesn't help profits it doesn't help we're not we don't have parted you only have this money in order for an economy. we need to make products or maybe nothing we're standing on it and that's when you can sustain this ridiculous farcical. claims that we have right now warren buffett underperformed the s. and p.

$500.00 for the past 20 errors and charlie munger now say that it is bit coy and not fair what's not only a quote disgusting but a threat to mantras of civilization what do you think of the greater threat charlie monger innisfail or beck climb let's. 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 insincerely and zoom and there are a couple slides here's one of them about general yellen which she is at the central bank is too much corruption in central banks right now she's paid $8000000.00 why lobbying organizations in big i guess that's where she got the issue the treasury issue who she looking out for she's already said she's going to declare war on. reeves as i've said many times and you are going to is an alternative asset os

we've all to use extremely 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 buy 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 evaluations of the stock markets and apple if you want 4 trillion in these companies that are violating your training dollars just the most bizarre thing in the history of this universe the same thing you test tesla it's never made a profit you know profits on our roads and any profits made. trading big we're going to do other things we're not selling cars which is the primary business you are musky himself if a $100000000.00 if he's made a $100000000.00 in encounter chinese and this is an indication that machine and last night was the. bubble that's turned into a media i at take

a while digression here you know because i'm not a fraud tommy and we have a lot of chats and song i go with us so you're a new yorker i'm a new yorker and the news that they have on moscow scales 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 warrior sang 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 net you what are your thoughts. well look i think that you've got the social justice they don't understand that there's a difference between justice in germs or justice for all and in terms of liberty and in terms of democracy and social justice which is just you know what happens

when you have 40 years of indoctrination in school system and it's ingested in shock it rather than corporations it wasin your lisa jackson you were raised in charge of the e.g.a. 08 ministry of the e.t.n. where obama and his actual she's all these people you know it's part of washington and wall street a play a revolving door so they go to regimes like apple and they run them all season year after day removal and now it's all about social justice and is it any and i shot it you know i'm lost it's going to be an saturday night live what he bought his way in there he's one of the richest in the world will his empire come crumbling down he used the internet to get worries used on social media yet all of his smoke and mirrors and maybe all comes crashing down will be a lot of people lorne michaels like at a coffee on the asses say thing that the answer as thing anyway i got to wrap it up minutes now senator sam 1st again thanks for being on it has

a report actually i need the nets if i was going to death as a test not the kaiser report with may max foster and stacey abbott want to thank our guest misfires time author of plan a ponzi and so much time by all. but if you were when you came from but it was with a chance. to do good i'd see a major woman who. just took a cue to interweave see all her. push ninety's through you that are saying no is nigger because of my think if you get. pleasure who fish not go for the beautiful bill and want to be sure that it is that these are. the worst of the let's listen.

to what school that wants this issue will. go well for. the story could get a good beat and if we had of too much of what you mean a. door mama was a shit but they could be when you get out of the scott. peterson your she could just be some reason off of what she has a mistress. so what we've got to do is identify the threats that we have it's crazy confrontation let it be an arms race is on off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk.

we do it is part of. milton's i would say i'm not american but americans helped out really. war to cure the depression forced on social structure and prosperity of course i'm sure . it wasn't for us the whole world it. historic ever since world war 2 to foment the cold war against russia against communism and. you so you. could call. it the world war 2 has been the story credibly anglo american

media and that's because they want to diminish the role of russia. and stalin who actually defeated hitler. today headlines when r.t. international. schools from using a modified version of the french language that supporters say avoids sexism people obviously divided about whether indeed reforms are in fact actually needed. we must include everyone for me it's a bit bland to the issue of sexism and ricing is something you have to take into account cities use less complicated speech over 200 people and a number of offices are injured in clashes in jerusalem with police taking a tough line on journalists filming the unrest. and with a day to go until moscow stages its annual victory day parade.