ah, ah ah ah, moscow says the grim record is the daily number of cobra cases, source one all time high, the cities mass and our to roth of new measures. you and i was in a code both claim victory and illegal buffalo vaccines supply delays. court ordered formal you tickle giant to deliver 15000000 more doses by the end of september. the devastating floods leave at least one person dead and 8 injured in southern rushes, crummy a province officer until rain, cold river to breach the banks or districts have declared the state of emotion. the big picture up next for us us it's,

we're back to tonight. we're back and what i was time to bring you that i just headlines. join us again that ah, president biden says, his budget buys must have stuff for the usa to sustain and compete. congressional republicans not themselves historically known for frugality, call it a liberal wish list, but when you stack up the national debt next to the gross domestic product, you gotta wonder, are we living in a house of cards? let's ask the author of the sickness is the system when capitalism fails to save us from pandemic, or itself. economist and university of massachusetts amherst professor emeritus richard wolf 1st things 1st, uncle sam has been running this printing press day and night. trillions in economic

relief funds that theoretically, we're going to bounce up and down main street usa and boy, the economy during an emergency. richard didn't work. no, it didn't simply dancer. it did not. and it couldn't. and what we've seen, in fact, ironically, is that when you pump all that money into the system, you have 2 things you need to worry about. number one, no system becomes dependent on what it is you're feeding it. we now have the federal reserve lending directly buying corporate bonds so that they literally are directly supporting private capitalist enterprises with the low interest rates that we've had now for more than a decade. plus now direct funding. i mean, there is no nice way to say this private american capitalism is on life

support for the government. number 2, most of that money did not go into what we call main street. it did not go into producing goods and services and providing americans with jobs that was promised. that was the idea. but that's not going to happen if the vast number of americans and this was already true for holding on more and more economically pressure. their wages aren't going up very much, they're already in greater depth than they can afford to advance. so they're not going to buy lots of goods. and i'm not even going to raise the question of how much of their buying is going overseas to my imported goods. so the money didn't go into the real economy. it went into the stock market, where all that money ended up buying stocks,

as borrowers bought them and resold the others who had borrowed from the federal reserve. we have had the great period inflation, but narrowly affected the 10 percent of people who own 80 percent of the spot in this country. so we've had a stock inflation which worsens equality and we haven't had the jobs. boom. so yes, i'm afraid the sad answer is it didn't work. if work, you mean giving a new impetus or new foundation to a general economic obsolete could. some of that don't end up being spent in retail yet. i've read that the savings are up. we've been claustrophobia. busy for 15 months, everybody's dining, they get out, we got supply chain issues. is there a possibility that there's going to be a delayed reaction and people will now start spending to some degree?

yes, that's a reasonable expectation. but it has been hyped out of all levels of reasonableness, people making comparisons. for example, 1945 in one when we had a boom in the immediate aftermath of the end of world war 2. let's remember, $945.00 came after 5 or 6 years of warfare, which in turn had come after a dozen years of the greatest depression in capitalism's history, a total of at least 167 years. we have that only in months in terms of what happened in 2020 and the 1st half of 2021. so there is no basis for this type of notion. number one, number to the american working class was taught of very serious lesson. over the last 16 months, we may have seen the unprecedented support why the fed for business. we may have

seen an unprecedented support by. 4 mister biden, and by mister drum, to use the federal deficits as a stimulus. yes, we did, but for the average american? no, it didn't mean that much more than half the american working class as a file for unemployment at some point over the last 16 months. even though it was only for a few weeks that meant the use of savings. and it was our sharp reminder of the insecurity of employment in today's america. so no, i don't think you're going to see them rushing to spend whatever their modest incomes might be over the next few months. and i think we're going to be very disappointed if we sum up without looking at the hard realities that govern consumer spending. and the last point,

all the accounting for and one of the biggest in the world makes very good projections them projections for consumer spending. this year, a next and actually up until 2025 aren't really constrained. they don't see anything like the hype about notions that you see in the media. president biden says that mathematically, we are better off doing his f, d r 2.0 in the restructure initiatives. them not meaning jobs, jobs, jobs to those numbers crunch. i think he's right, i'll give him that. it's better to do it then. not to do it, and when the republicans propose not doing it or doing it bless, there's a horrible kind of wishing for the lack of a bounce that mr. might might get political credit for,

rather than anything that's honestly about our economic system. so yes, mr. biden's match and proposals are trillion, june deficit spending will improve jobs and the economy. will they do what people are promising? no way and let me give you the, the parallel. in the, in december of 2017, the trumpet ministration got through one of the biggest batch guards are business in this country's history. dropping the corporate profit tags from 35 percent to 21 percent with glowing promises of the enormous boomers that american corporations would enjoy. because with lower taxes scale, wow, they would invest. it didn't happen. economic growth in 2018 was 3 percent in this country. rather than the usual anemic doing, the 2 and

a half percent was better. yes. give us a new economy not even close. and as far as i can tell, that's exactly what we're going to see with mr. biden's alternative approach. we are speaking with the author economist and professor a richard wolf about jobs. we see that help wanted sign everywhere. desperate employers are offering outlandish bonuses a year ago. the $15.00 minimum wage was very controversial. has the market place now mooted that conversation and have these relief payments, which were a lifeline a year ago now. backfired by making people lazy. i don't think so. let's, let's break this down. i do think there is obviously some truth to the surveys that show us that employers are unable to find workers for the jobs that they're

offering. and that's an issue. and we have to explain it what the explanations offered range from the insulting to the providers. first, the insulting yes we did work as an extra $300.00 a week for a period of months. under extraordinary circumstances. let's all remember please. that from the month of march of 2020, basically to the president. we have had some thing that the united states has never suffered for we haven't had depressions before, and we have had viral tan damage before. but we have never had them at the same time. and when we have had either one or the other, it's been a rough goal for the united states. it's a much rougher goal when you have them at the same time and helping the mass of

working. when so many were unemployed with an extra $300.00 a week is hardly making them billionaires or anything close to it. it's giving them a bit of support in an extraordinary time and sort of blamed that operation for some sort of economic problems. now strikes me as a kind of insult to the modesty of the help that we do. number one number do. and he's really important, there is evidence that we have a greater level of job quality right now. then we have a machine and statistics. the united states come right to try people leaving their job. what's that about? well, the answer is not just that they see the help wanted side,

but people are very wary of giving up something secure, even if there's help wanted sign. i think what you're seeing is a reaction to being on employed, to see how odd things were, and having a new feeling about that job you're returning to. and every worker wants to make up a little bit for what they was. they want that job to paying a bit better. they want to be assured that that job is safe because of all the clock about social distance ging and vaccinations and all the rest and the employers. what they're telling you is yes, they help wanted sign. but the employers don't want to a, the higher wages or to pay for the greater safety and other conditions that workers increasingly demand. and that has to be worked out rather than blaming workers for not coming back. the jobs that have not paid real well. and that are not perhaps,

as safe as workers want them to be sure to be. and that would be a more honest way to address the balance then to load quickly, or who to blame the economist richard wolf. thank you. as always for your plain spoken take, i appreciate your time coming up. what happened and what happens next. our panel is limbering up. this is the big picture on our t america. ah, the the

ah, me talk a lot about la plano energy and also use volcanoes as a metaphor to elucidate so many of the big trends happening in geo politics and finance ah, is your media a reflection of reality? the in

a world transformed what will make you feel safer. tyson lation, whole community. you going the right way? where are you being that somewhere? which direction? what is truth? what is in a world corrupted. you need to defend the join us in the depths or remain in the shallows. ah, ah, president joe biden is back from his 1st to meet up as president with other a world leaders. and it had a very different feel than his predecessors. remember in public and on twitter,

donald trump insulted our allies called them free loaders. he pulled out a several international agreements, refused to sign others, and alienated countries who have been our good friends in the post world war 2 era . trump was particularly rude to german chancellor, ongoing merkel, who now says being able to meet joe biden is obviously important because he stands for the commitment to multilateralism, which we were missing and recent years. even prime minister boris johnson, who's closer to trump than any other g 7 leader called biden a breath of fresh air during the obama years. the standard issue, conservative catch phrase for his interaction with other world leaders, was that obama was on an apology tour after 4 years of trump. do we all of them one . let's ask on the left. myisha cross co host of watching the hot sun

r t. america. and on the right, steve malls berg head chef of eat, the press on our t. myisha. we have been through a worldwide pandemic, and the economy no longer knows borders, call me old school. but misha, don't manners matter on the world stage. manners will, and manners will always matter. and i think it's beyond that what, what we saw from president biden was a reassertion of not only american strength, but the strength of our democracy, and a reunification of democracies. as, as globally, as we need them to be, what we saw was a stark contrast to the trump presidency, which was one of isolationism america. first to him mit that america could go it alone. president joe biden recognizes that, that is not true that those true the granite partnership matter that are you are p and allies matter. and that asserting democracy matters. and we've seen time and

time again, this pressure of an authoritarian spread because to be honest, we thought donald trump cosy up to dictators. he liked the dictatorship, monstrous. and he tried to assert that in america. what we know now is that america is back. we heard it from a manual microphone. we heard it from boris johnson. we hear it echo time and time again because there's faith in america again. and that's what matters. steve, you may have seen these numbers to pew research pulled 16000 some people in 60 and other countries from early march to late may. the usa says media and favorability rating increased by 28 percentage points. one of the biggest spike since pew started polling more than 2 decades ago. it jumped the 62 percent this year from 34 percent and 2020. steve who represented the us a better on the world stage. donald trump or ronald reagan,

donald trump, ronald reagan. well, i think you're living in 2 different periods of history with 2 distinct set of circumstances. so i think it's hard to make a comparison. to me, there is nobody like ronald reagan, but to say america's back and overseas a lycos better, who gives a raspy hind. i want to be safe on our streets. i want america to be 1st. i want america to be the best. i want to a president to put america 1st, and i believe so does most of this country. what we saw from joe biden was a stumbling, bumbling old man who confuse libya with syria multiple times. who said, lots of people don't know what cove it is. who said, i repeatedly, i'll get in trouble if i don't call on the right people who, who brought along. and we've seen the close up of this printed not just scribbled, but printed up notes, bashing trump,

and bashing the republican party. and he read from those notes and talking points overseas, which is something you're not supposed to do. now, trump did it against biden and caught help from the media. but when bided against trump in the republicans, and it was written for him which everything is bul. not bull. silent silence. and by the way, who said this? you think this would be news? who said, we don't derive our rights from government. we possess some cars were born period and then we yield them to a government. that was the great joe biden, just the other day. you think that would be a story? what do you mean? we yield our rights to a government? nothing suite b. c nile joe could do no wrong. i have every confidence this will be reported. i need the press issue to do you know this man?

how about this one? or how about this great american? these 3 are among hundreds of january 6 capital insurrection, as who's photos. you will see at f, b, i dot gov or is insurrection is the wrong term. who would think that they would try to pick january 6, which was the over the valid some people pushed their way to the capital. i mean, for me was seen a whole bunch of campus occupations. it was nothing more than a walk through, but nevertheless, always a riot, always an insurrection. it's a cool, it's the worst thing. the civil war. i mean, what kind of idiocy of disproportion what kind of false more liquid balance is this? and yet, is that the highest levels of government? nothing more than a walk through georgia, congressman andrew. clyde said that watching the tv footage of those who entered the capital and walked through statuary hall, showed people in an orderly fashion,

staying between the stanchions and ropes, taking videos and pictures. you know, if you didn't know the tv footage was a video from january, the 6th, you would actually think it was normal tourist visit. to quote the marx brothers class. i call you again a believe me or your alliance eyes. misha, how will malarkey like this come back to haunt republicans in 2022? well, honestly, i think the republicans are absolutely fine nullifying what's happening and what did happen on january 6th, because we all know that the pushing of the big lie be the phrasing of their being voter fraud. and the fact that donald trump still pushes to his to his base, and that is the republican party today, that he was the rightful winner between 20 election. those people believed heart and body and soul, but they were coming to defend him. and i think that the board that they use as someone who has worked on capitol hill for years, that was nothing like a normal tour. that was nothing like a normal day on capitol hill. there was nothing about that. that did not raise

alarm. we've seen the body cam footage, we've read the notes that were given from the, from the capital police who are requesting that republicans would actually stand up and acknowledge the fact that they were their lives were in danger. there is nothing about this that was normal and the fact the republican stand behind trump in the big live, the fact the republican stand behind. meanwhile, feeling this footage, the fact that they still stand behind these individual not only in admonishing their being a commission to investigate into january 6 insurrection, but also to deny and down play the fact that people lived were at stake. that's a huge problem and i think that it showcases just how much of a been line we have in the democracy that we currently are holding onto for dear life. but are willing to leg, go up on the face of something that is just on factual and unfathomable. it was chilling to watch that live and no less. so when we see the replace at the bottom of your screen, we're going to show you the f b i tip line phone number. and because this tv show is also a podcast,

i'm going to read it because if you recognize any of the rioters you see at f, b, i dot. gov, call 802255324. that's 800, call f b i. they have made over 450 arrests. so far, steve, this investigation is closer to the beginning than the end. same question i just asked. misha, how will republicans suffer at the poles after the senate block that january 6th commission? i don't think most americans care about this anymore. you see m s n b, c and c and m going wall to wall day after day after day and gets what they've lost in many cases, 80 percent of their viewership, 80 percent, because they are out of touch. first of all, you guys, both of you along with the rest of the mainstream media love determines direction.

funny. the bi partisan senate report that just came out on this. never purposely never use the word insurrection of the 400. and so as you cite that have been arrested, not one was arrested for insurrection, so you could use it all you want. i don't condone violence at all. not everybody there was violent, those who were what the congress said was ridiculous, but this is it. the republican take on this p, then i get a suffer in the 2020 mid terms because of this because people see what happens in their own streets every day. shootings in major cities, murders, crime out of control and riots. an insurrection by and keeper and black lives matter in portland, and seattle goes on almost every single day in minnesota that george floyd square. you can't walk there, the police keep opening it up and they keep barricading it, want to make it their own little city. so there's stuff going on all over the

country. the media is so out of touch, and that's why they have no viewers left. basically, on the liberal left wing cable news networks, it's evident they should wake up and smell the coffee or the roses and understand why they're reading viewers. because they're making too much of this non insurrection because again, nobody with any authority has called it an insurrection. i want to save the tape, and i want you both back after 2022 because we have some predictions on the table, but rioters will soon get what they want. according to my pillow guy, mike lynn, all who is convinced that we have a clear path to uphold this election down. he says it's a fact that we have evidence. it will not be $8.00 to $1.00 in the supreme court. he says it's going to be 9 to nothing. down comes the election in august. here comes donald trump are real president who lintel says one that's election by 80000000 to 68000000. what has to be the tweet of the week was

by canadian pam, who spotted what we want to think is a parody. this is a photo of tickets to the 2nd to inaugurate of donald trump. just $1200.00 per and ted nugent is gonna play. there is buzz. that's got bail and amc so save the date. august 15th pam says she is seeing the sold on the internet and that the people are talking about how they excited they are because they've already purchased them. what pillow man seems to have forgot is that the supreme court will be on a 3 month summer recess. myisha cross steve miles burks. thank you for stepping into the big picture and thank you for watching the big picture and we're going to be back with another show. same time next week if you're watching in real time. and if you're not set your d b r direct tv channel 3 to one on the dish dish, we are 280. and the rti america's live stream is on youtube dot com slash

r t. america on any wire device. we have almost 4 years of my humble work archived, and youtube dot com slash the big picture r t. and i am part of a vast cast of our tears on our free, portable tv app, there's thousands of shows there. you can download it and google play or the app store or at portable dot tv. i am holland cook and of course at holland cook on twitter. where if you follow me, i'll follow you. question more. ah ah, join me every thursday on the alex simon show. when i was speaking to guess in the

world, the politics sport, business and show business. i'll see you then me. we all see it and we all feel it. the significant increase of inflation has many economist concern and consumers. needless to say, terrified why the sudden increase in prices. is this temporary and what can be done to take this crew with form of taxation and working the imax kaiser. this is the kaiser report. we're going to talk a lot about volcano energy and also used volcanoes as a metaphor to elucidate so many of the big trends happening in geo politics and the

finance stacy. well, there volcanic eruption is happening in the mind shift that is happening. and the mind shift that is underway is showing us the difference between good money and bad money. so the good money is bitcoin, and we're seeing that change the mindset of the people who adopt it like el salvador and like all the other latin american countries now that want to also adopt bitcoin. like the hedge fund managers, like paul tutor jones, who's out on television banging away on big wine and talking about the relentless optimism and the positive future. and how honest it is compared to the dishonesty of let's look at the bad money. the 1st chart, federal reserve balance sheet top 8 trillion dollars for the 1st time. this is fed data and this is a sort of thing that paul tutor jones is going.