new swamp continues online traffic is declined at leading new sites almost every month since january peak from a year ago. latest figures from comscore and i show catastrophe for almost all media outlets. washington post down 30 percent new york times down over 30 percent . we have some down 5060 percent, and their traffic from the all time peak of trump era and now down. so that was the clown show, the people liked it. now the people, the populations being hypnotized by the coal black guys. yeah. i remember back in the old days in america, there is a tradition of the dime museum. so the dime museum needs to be one time square many, many years ago, or who danny was for format. and this was a collection of freight shows and magicians, and hypnotists. dan people go in there for their one shiny dime and get quite a pan of play of entertaining spectacles. and so we had the freak show,

the trump years in all of its glory, followed by the hypnotist of joe biden, whose kind of involuntarily putting the nation to sleep with black, cold, dead eyes, and utterances that are filtered through some kind of in comprehension screen. and the media, unfortunately, is not getting them audience that they need to survive. so this is leading to a soviet union style collapse because if you take the spectacle out of the u. s, there's nothing left, right? it's like taking the bureaucracy out of the soviet union, wants to be oxy collapse. the soviet union collapsed with america. that doesn't work. and bureaucracy works on the spectacle industry. so everything is us. our

ranges spectacle and it's covered by the spectacle news. and so when you remove the spectacle, you essentially are doing a rug pole. there's nothing left there. you know that the curtain falls in, it's just an empty theater and there's nobody in the audience. and so there's no economy. sadly, you like the soviet union, my, my particular thing, i like to compare it to the roman empire because it does seem like, you know, we have the senate, we have the emperor, we had the army, we had the praetorian guard, we had the bread and circuses, we had a vast expanse, extending all over. they had their roman roads, we have the internet that we extended throughout the world and thus information was allowed to travel through inherit heretical information was allowed to travel down those roads. so when i look at this, i look at the, the fact that, you know, when the empire starts to retreat, when it starts to lose power at the edge. that's when all of the spectacle arrives

. the room is of course left. you can go to room today and see all the amazing architecture and buildings and all sorts of stuff that they created there. right? but the us will, will have like, you know, we were the greatest show on earth. it was genuinely the greatest spectrum. well, the greatest show on earth, but unless you were there, you don't remember like, you know, if you didn't go to woodstock, you can't really know how mazing it was or how bad it was. like you had to ben at the show to have seen it and believed it. right? unless you were in america during its 240 year existence, you would have really have no memory on it. right. if you can remember it, then you weren't really there because there's nothing left behind except some landfills filled with some collector. mikey trainers spent some for some reason assault for thousands of dollars. you know, we have the spectacle and we have that the surfaces certainly we even to the point where we elected president, who is

a reality tv star. he was like one of the gladiators in the spectacle that we call television reality tele. they even called it and very comical sort of spectacle manner. but then, of course, the bread we've seen the remarkable stimulus checks, credit, huey, all sorts of stuff being thrown around, joe biden says, his multi trillion dollar spending plans will reduce inflation in the years ahead. so this is that sort of hypnotism that, that you just keep on looking into my eyes. just keep looking in there. this, this, all the spending will actually reduce inflation. you know? yeah, well, weight is expensive and bread is expensive. so it's more oxy cotton, the you know, is the new bread and circuses. it's oxy, cotton and circus says probably microscope and services. and the results are catastrophic, of course. and, you know, we're doing roman empire,

soviet union empire. remember in the soviet union class, you had a whole generation of men essentially die from alcoholism. here you've got a whole generation of americans that are set to die from opiate addiction, thanks to the collapse of the american empire which could have been avoided. i don't think it can because the entropy always that then whatever the system is, what ever system in history throughout nature, entropy always gets it in the end. so that's the inevitable. it has to happen, and these are just the signs that we're looking at that look just like the business cycle, like you. the notion is essential banks believe they convince themselves that they could do something to stop it because who likes the business cycle, who likes to put the neighborhood shop out of business, who likes the destruction of capital like that. but it has to happen because that's . c the cycle of life, and so let's turn to the cycle of this business, the business cycle applied to the media industry. so we covered the fact that their

ratings have collapsed because apparently the audience has been put to sleep instead of they're not tuning in for the clown car, they're not tuning in for the clown show. so what has happened and said what it, what, what is like, and instead of, you know, reporting or doing something else different are changing their business model well, outrage as a business model, how ben shapiro is using facebook to build an empire. so that is the headline from n p r and here is the response i was looking at this m p. our article is hilarious . if sinister, it basically boils down to establishment left wing media outlets being faulty, that their content performs worse and the digital marketplace. and thus wanting big tech to shut down ben shapiro for dot dot dot, beating them. that's what i'm talking about, the internet that, that, that equivalent of roman roads delivering the barbarians and their messages outside

of the elite center, the senators, the emperor, the president, the congress. you know, the fact that they control the message and then suddenly all these people start poking fun, you know, at the edges and disintegrates the center collapses, right? and plus, you know, what i don't understand is how come either m s m b say, or fox news, or c, n. n is not just outright buying bench at barrow. and other words in the past, when you had a rising force in the media, they would be bought out. and that's why there's only 5 or 6 big media companies in america. they buy out all the competition. that's an all gobbling. so instead of crying about bench repair or being that the ratings typically what we would say is that one of the major was simply by bench japira. remember air america was a left wing alternative media. and i was essentially bought out all the players. my lead and my son and, and so, you know, we have that option, we used to why,

why is it that i'm the media companies that are already openly oligarchic, are raising money to buy out the competition. in the same way that private equity is buying out all their competition. why is the media and not buying out their competition? i don't understand that. you know, that's even not even. that's not even american. i mean, what is that? that's not even soviet union like, that's not even roman. like what is that? it is. it's like the greeks. it's like the romans. it's like spanish. it's like the british, it's like where every empire, schubert, they feel they should be obeyed. and that, how dare you be a barbarian and have a different message, a different governance system, a different ideas than i do. so you bay me or year are destroyed. they don't like to negotiate. diplomacy goes out the window and they crush the competition and thus invite the population begins to invite in the barbarian. so that's what you end up being a tyrant, a dictator, and you get destroyed by the people. but i want to say another thing that they

point out in this article, this is what n p r roads. and this guy, brad paloma, calls attention to it. quote, saying of these online barbarians and p r said they tend to not provide very much context for the information that they are providing. if you stripping off context away, any piece of truth can become a piece of miss information. right, so now the barbarians, the venture perils of the day today are essentially what public access, public media use to be. yeah. and what n p are used to be art of public access, television and radio and media that was sponsored by the people in democracy. now with amy goodman, you know, they have their annual fund raising drives, that's what publicly funded media means. but now that they've all been co opted by corporations and there is no public media any more. you have a good friendship barrow that goes the readily available public media outlets like

youtube and others at this time. and they are providing an alternative that is out grossing the mainstream corporate lead media. and who have their genesis in the public airwaves, without which they have none of them would have existed. so it's come full circle and i think you're right. it is a matter of hubris. typically people come to believe that the free money that they've been given in the free air time that they've been given through public access to somehow a birthright that they deserve. and their entitled to and they go bonkers. all right, we're going to take a break. and when we come back much you are coming your way. the me, ah, when i would show the wrong, why don't i just don't. i mean,

you get to fill out the thing because the kid an engagement equals the trail. when so many find themselves, well the part we choose to look for common ground in driven by a dreamer shaped by those in me dares things we dare to ask me a whole lot in my phone are 60

and i don't i just saw up dollar format isis fighters and they're now boarding a philippine naval ship with john $900.00 jeff, aren't abdulla still don't know who was waiting for them and i was they gave

me. ready ready the me welcome back to the kaiser report, i max kaiser time, not to return to our conversation with tommy cost. he's over there across give capital tommy, welcome back. thanks for having been year. i wanted to follow up on something for our previous conversation relating to m to money supply. it's grown massively beyond the g. d. p growth sense 2008. pero barclay since the beginning of the pandemic black pounds a year ago. now here's my question. many on the left argue that this is necessary, not only to rescue the system, but to help the poor be response. what is, why is i think it's i instead of taking is so much on the political side. i'm going to say it's almost there is no way, no way around is the situation that we got into which with the lack of discipline

that really started in the seventy's and the break of the gold standard and taken on that or more. dad, i don't think there is really a way around this decides the increase of money money. so why, and especially now we're seeing more units of money supply to pre roll. and therefore the issue is some call deflationary, which is the money, the last city decline. i think in know, in any ways this doesn't really matter what the political party really yes, the continuation of those policies is what ends in my view with the lation at some point. and the real question is, when there are some real signs today, they're starting to, to begin here. and you can see also this, the issue with the prevalence in a narrative of inflation. i mean more of the trending especially topic among the average. joe, don't think we haven't seen since the 70s in the us and sure some other places in the world, they actually have experienced that. let me jump in here for

a 2nd time. so what, how does the left explain inflation? what do they think is happening? why do they explain it? well look, i think the way they try to explain it is, is, in a way is, is increasing the wealth of the, the bottom 50 percent are, is i wouldn't explain or perhaps justify what they're doing. i think the explanation in a way is, is that the wealth has been really much more towards the more the richer parts of the society, which is the inequality issue. yeah, but i'm saying that they understand when you print money, you reduce purchasing power for your money and you're actually causing poverty to the left. understand that when you print the money they're causing poverty, do they understand that it seems so simple. and you could say that with a lot in lot of emerging markets that are very even more left in the us have been doing that for a real long time. and they know that, but there's, it's so

a political to create discipline in the system, increase the ability for the currency and stop issuing that in stop printing money to get either, you know, purchased a financial assets or give it to the be, depending on what country you're referring to in the u. s. i think i think it's actually less the year the other places, but it's, it's bad max. i think, i think what we're seeing is, is this, you know, in a way it's inevitable, right? i mean it's, you know, how do you reach the levels so we have a dat, especially the private sector was looking really bad. we just transferred the issues and balances the macro balances in the private sector. we're basically transferring bath from the private to the public sector. and so, but, but that, you know, that still doesn't change the nature of the balances are still there and the need for further increase of money, the loss of money. so why specially in order to create short amount of units of gdp is still here? so it doesn't change the picture that you're referring to,

which i think it's very important, which is this embedded inflationary force that is being created system where a lot of, you know, the odyssey to present doesn't, doesn't know that. in fact, they don't even hold financial acids that actually protect them against those, those forces. and that's the sad part about this. and who actually suffers from those policies is actually the more the deport you are from brazil show. yeah. ok. latin america, central america, they've been doing this for decades, doesn't work. and america will look at venezuela and say, hey, you know, your country's all messed up. we need to invade your country, you know? but in, so why they adopting the venezuelan monetary policy? why are they mimicking? is it the example of you become what you have right, america have fun as well. so they're going to become like venezuela. i think it's an extreme scenario. it could become an issue. it's not. might be the case. i don't

think it's going to be that way. and the reason for that is because i bring inflation tends to happen, starts with the instability that the current at which we're seeing in the us. we're seeing all over the world. but that leads to smart money to leaving bath, that particular country. so in other words, you see large corporations is starting to have capital outflows from that place. we're seeing that today in urgent tina, that's a great example of a place where most of the smart money is out. and so you start seeing a political environment to form that is stronger than any other political leadership. and that is when you start seeing it's kind of been this well in style of hyperinflation. i think that's going to happen in a place like urgent. you know, it's already happening, but i think it's going to get us to years if ever seen in venezuela in the west. you know, we're still have most of the large corporations here, a lot of economies to still do business with the us. if that's going to happen is

going to have to happen worldwide, right? because it's a relative game, it in a day. but in my opinion, i think this a little too far for us even go there. i think that's going to take a few steps to get to the high briefly show levels. i like to focus mostly on, you know, inflation going from single single to double digits, and in a go back to high single digits and will stay there for a bit. and i think that that's going to change everything, especially from a capital allocation side of things is i don't think most of the investors are a curly position for a such an environment like that. ok, so to buttress your argument, you know, you could look at the dollar because a dollars been relatively strong. you can look at gold, that's been relatively weak. right. and that's kind of what you're describing is that, yeah, the us dollars messed up. but relatively speaking, it's the cleanest shirt in the laundry, right? it's the least mass compared to the rest of the world. i mean, look at, i mean,

what's happening in the you, their money supply, their money is being printed at a more accelerated rate than even in the u. s. is already the central banks from your work and your do the deep dive and all the statistics and quantitative analysis and whatnot. what's the e c b at the moment? are they really as messed up as a peer to be a seems like they're the weakest of the major central banks? i would agree, even though i think from a physical side as monetary stimulus specially will, it would actually be used to fund fiscal in the way of par giddy those. those stimulus and passing those through are a little bit more difficult in other areas. and i think that's why recently not in the last month or so, but in the last year we saw the strength of the year a relative to the dollar. you know, but i, i don't think that that changes the picture as a whole. i mean, it still have those countries are highly indebted. they have been highly indebted

in the only, you know, perhaps the will you opposite of thing that i can think of, that may happen with europe in the following years, is regarding this remote work that we're seeing currently. we, which may change their economy in a way where we may seem flows of folks actually moving there to work towards that. but that's a long discussion. there's nothing to do with the monetary and fiscal side of things. i believe that that's, you know, you're right, minutes of relative game in most places, not only europe will continue to do exactly what the u. s. is doing. i would point out, especially australia, australia has been doing even more than i even thought they would be doing. the terms with monetary symbol is an expansion of monetary base and dos. those places won't stop anytime soon. my view. and the issue is that we're seeing the same inflationary forces worldwide. you know, as it's not only the west or europe, it's happening even in asia to in china, especially china is one of the most leverage economies you can find in the world

today. 300 percent of financial assets to g p. s, at a very close capital account in economy. how in the world, the group at that level of leverage, especially from a financial asset perspective relative to g d p. it's kind of astonishing you my view, but going back to your question on your, on, on the, especially europe as a whole on look, i think, especially the u. k. is, is, is doing a few things, especially towards more money. we don't really want is ation of that, i guess more direct monetization of bass than other places. and, and although i think will turn out to be the race to the bottom for fear currencies and the need for alternative of alternative monetary system. and there are plenty out there. you've been talking about big point for a long time. that's one of them. there is gold and there's silver on there's, there's a lot of assets they can actually benefit and jump in less than return to latin america. and you mentioned bitcoin there, we've got an unbelievable situation and al salvatore, they made big coin,

legal tender, and immediately property prices jump. they're talking about bitcoin mining, the bring in almost a $1000000000.00 in revenue next year. this is a $20000000000.00 economy. the remittance market, a 20 percent of g d, p would be boosted just by the savings on remittance right. and so this is to put it into the terms a, quote, black swan almost. this is a, an unforeseen event by the i m f, the world bank, the fed. nobody saw this coming except for big pointers. and if this catches on, the dominoes fall in central america and latin america in the, in the whole region goes to a big point standard. and now russia even is talking about picking a mining from china. we go to a big point, standard hyper big quantization. how much would that pause and ag, central risk to the dollar? i think you would however, i just don't think any golfer men ah, it with that type of mentality coming from south america. knowing that they like to

have the storage area of control of a lot of things. i just don't see, you know, that move actually happening a lot of those places. i highly doubt that argentina is ever going to do that. you know, given the political leadership, unless it comes from the population size of looking for alternatives, of doing anything that is outside of their own monetary system currently. but indeed, what you said now does create the demand for things like they coined in other crypto assets and the whole environment in that. and that asset class in any, could potentially become a threat. but i will decide that i think that it's, you know, from, from looking at the political leadership and what they may actually do. i think that the, you know, having control over over what's actually happening is the higher priority than the stability of a currency. even though occur. no i, i obviously agree that that's the right move, but i'm not here to tell you it's right or it's wrong,

but i think i'm telling you i'm here to tell you what i think it's likely to happen . so as an investor, i highly doubt that we may see that pattern happening in a huge way in a lot of other countries, but i wrong but ok, so right, the countries like to be authoritarian, they like to have absolute control, but they're also like all human beings greedy, and if they see the dorian government cook, you know, bringing in billions of dollars through tourism and mining and, and the best kind is appreciating, you know, they're going to be like, you know, hey, i want, we want some of this action game theory kicks in and humans are human and they want to make money. and if all of the money is collapsing, we only got about 20 seconds. but it doesn't greed trump a dictatorship mentality in this scenario. so a will, but at the same time i think we're going to see exactly what we're seeing, which is the idea of creating their own digital currency, which has nothing to do with the whole point of creating or using big coin at the

1st place. right? ah, i think that that's, that's a lot more likely, unfortunate, right? but it's just a repeat of the money and one game, the many advantage whatsoever. and china's already made that mistake in a few other countries and. and now they realized that big coins, the only way. all right tom, because the thanks so much from chris. good capital. thank you very much max. all right, that's going to do it for this edition of kaiser report with me max kaiser and stacy herbert want to thank tabby costa, of chris get capital. and so next time via the me one the make no, certainly no borders and the number t's as emerge. we don't have authority, we don't,

the whole world needs to take action and be ready. not a joke. people are judge crisis, we can do better. we should be better. everyone is contributing each in their own way, but we also know that this crisis will not go on forever. the challenges for the response has been massive. so many good people are helping us. it makes us feel very proud that we need together in algorithm. so neural networks have been following us everywhere. we look online because our relationships are what matters most of us. that's how we find meaning and how we make sense in our place in the silicon valley see, don't mention in the slick presentations. however,

the ghost workers who train the software humans are involved in every step of the process when you're using anything online. but we're sold as this miracle of automation behind your screen. it's a workforce that seems algorithm is for next to nothing on a very good day. i could do $5.00. now. a really bad day. i could do 10 years worth is removeable by design. it's about labor costs, but it's also about creating layers of lessening responsibility between those who solicit the kind of work and need it. and those who do it ah, is your media a reflection of reality? in a world transformed what will make you feel safe for?

tyson lation community, are you going the right way or are you being direct? what is true? what is faith in the world corrupted. you need to defend the so join us in the depths will remain in the shallows. ah, oh right now, there are 2000000000 people who are overweight or obese. it's possible to sell food and sugary and faulty under the victim, not at the individual level. it's not individual willpower. and if we go on believing that never changed, that industry has been influencing very deeply. the medical and scientific

establishment, ah, what's driving the obesity epidemic? it's corporate. me. ah, i can useful you this hour. at least one person is being killed by a huge explosion of an industrial park housing, chemical company. 16 been injured and 4 people remain missing. france approves a new law restricting travel and entry to public places the people without so named covey passports, the movies proving to use the device it businesses on the public and under the kristi and pre k, reportedly converted from islam is stubs and hide paul's famous speakers. corner, the media maybe focuses on what she was wearing over cities. math doesn't even acknowledge the incident.