crude of the bigotry that runs instead of his nauseous sub small look at so some of the many very stories he got for you today and features to check it out. the comment of social media, if you want to see more of what we're talking about today, and if you will just have a say about it as well. but now coming up to pass the reporting from moscow, kevin, and the team. thank you for watching. whether you are the world and have a great day, me the one make no, no borders and a lot number please. and you emerge, we don't have a therapy, we go to the back seen the whole world, leads to take action and be ready. people judge, you know,

come crisis, we can do better, we should be better. everyone is contributing each of their own way. but we also know that this crisis will not go on forever. the challenge is paid for the response has been massive. so many good people are helping us. it makes it feel very proud that we are together in the is still large enough to satisfy the ambitions of jeff bezos. you know, it's got its tentacles in so many aspects of the economy. there's nothing that amazon isn't trying to get into to step by step. the amazon empire has extended its group on the world that was by conducting quite like a dog dog. so amazon looks like monopoly trays like a monopoly makes money like monopoly behaves like monopoly,

like amazon essentially controlled the marketplace. it's not really a market as a private arena world where a single company controls the distribution of daily products. and the infrastructure of our economy is the world according to amazon the hi, a max kaiser. this is the cause a report. well, america is crazy frat party in afghanistan is over. took 20 years, leaving behind quite a mass stacy. right. and, you know, and there was a great thought piece out this week about the moment of our exit august 15th 2021 from afghanistan. and it's called farewell to bourgeois kings. and the thing

is, it really goes with our whole theme that we've been looking at the past few years. and recently where we compared the united states to weimar germany. and it, you know, the hyper inflation of 923 took a few years to actually get to that point. we covered michael burry covering this one money dies. well in this article farewell to bourgeois kings. the author, tings, cord, he refers to call schmidt, who wrote in 1923, the year of the hyper inflation and germany. and this guy was in germany. he knows that every ruling class throughout history advances various claims about his own legitimacy. without which a stable political order is impossible, legitimate in claims can take many different forms and may change over time. but once they become exhausted or lose their credibility, that is pretty much it. she was talking about the times of the kings. and once the king can no longer the monarchy of the divine rights could no longer be maintain,

the people didn't believe it any more. they went for the life of napoleon and said, right, like once there was a new way of running things and they didn't believe in the old way running things, there was no way to get that legitimacy back. and he's positing that were the moment and terrible is the end of the meritocracy. the reign of meritocracy. so called meritocracy, where all these think tangs and he's cable news stars, you know, with rhodes scholarship that they're somehow like divinely better. and they trust the science and they trust the data and they know how to interpret all this and you don't, right? yeah, legitimacy is done. you know, as far as a method of organizing the population to claim one has a degree of legitimacy over everybody else because what we're saying and ghana, stan, is that all of the folks who claim to have legitimacy. remember, when biden came in the office, the adults were back in the room. yes,

i remember back when the soviet union fell. there is a great essay by francis fukuyama called the end of history. you know, supposedly that the west one and capitalism free market capitalism was now going to be the, the only system going forward. you know, that was wrong, but i think, i think now actually the end of history is actually, this is world a legitimate story here in the end, the fall of capital because it's the fall of really the 80 or 90 year post world war 2, washington consensus us style of command control using paper money. so i think that is that's now finished. so we're entering into a new era and we've, we've speculated it with people like dan collins, what that new era will be like. i think the pendulum of power will swing probably into the eurasia zone. i think that'll be

a certainty. so usually they can no longer project their power because nobody believes them that many more. once the monarchy, the french monarchy was gone. that was the end of monarchy. they tried to come back once and the people didn't want them back. and the same thing here, people don't want the meritocracy because they look around them and they see california wasteland. disaster or sound humanitarian disasters on they. they presented afghanistan as the, the actual lab for this meritocracy that they were going to show you how to turn a backward country into, you know, a liberal sort of democracy. and it never happened using think tanks using billions and billions of dollars. no penny was spared, no money was spared, everything was was thrown at them. now they, he points out in this article, it is not just the elite classes incompetent. even kings could be incompetent without undermining belief and monarchy as a system. it is that they are so grossly spectacularly incompetent that they walk

around among us as living rebuttals of meritocracy itself. it is that their application of managerial logic to whatever field they get, their grubby mit on from homelessness. and california to industrial policy to running a war makes that thing 10 times more expensive and a 100 times more dysfunctional to make the situation worse. the current elite seem almost serene, and there wilful destruction of the very fields they rely on for their legitimacy. i remember that talking about frat parties. you know, that movie animal house with john belushi back in the late seventies early eighties . that was part of the series put together by national lampoon. they put a lot of these movies together, satirical movies and afghan. stan has become really the latest and the national lampoon style stack tire. and the cab wall disaster,

it's can only be seen as comedy. and a john belushi, i think if he had flown in in a helicopter and made some funny faces, i think would have been a little bit more entertaining. instead, they have some dower faced, 5 star us generals, playing the part of john belushi would have, would have cast this differently. but to have the saigon air lift off the embassy read ducks. you know, a sequel may be spielberg to direct this better, or even able ferrara would have directed this fantastically in it much more entertaining way than the current crop of did the joe biden is not a good film director. and as a result, it's not that entertaining. well, certainly the story. they told us the story that was told on the media by the rhodes scholars at emerson, b. c. by the children of, you know,

great multinational dynasties, like at sienna. and what you saw was they, they failed to tell the story over and over, and they never look back whether it's in new york times, whether it's the washington post, whether it's somebody say, whether it's the and then they got a sound wrong. they got a rack wrong, they've got libya wrong, they got syria wrong, they got yemen wrong, they get the financial crisis wrong. they got all of it wrong. all of our stuff with always right. looking back in hind sight. now you could look at the track record there on youtube, that's part of probably why they try to memory a whole so much of the alternative media while keeping their own content up there. so that's the story. they told them that the failure of that so called meritocracy, the smartest men in the room, whether it's from enron or cnn, or m s, b c, or any of these, you know, j. p, morgan, or goldman sachs. they all failed all the smartest guys in the room. always failed . so we're going to look at, you know, the data, which we've pointed out that you know, why mark germany,

what happened was 19202122, the people their loved, the failing elite. and they loved them because they were printing money and giving it to them, and they kept up with the inflation. and they, everybody felt wealthy. things were buzzing. that it was a bit of a herat time until the hyper inflation head in. so right now, like this seems similar in the last gast of del legitimacy, they're looking for any sort of legitimacy. and at this point, the people love them when they get those free stories, they love them when they get all that free money, and they don't have to work anymore. they get to work from home by mart, germany had the same thing by the way, they had a passive resistance movement to resist the french and belgium occupation of their coal areas to pay for reparation. so they told the people basically not to work to passive resistance. to, to the occupation by the french and the belgium. well, let's look at just a few of these headlines and the last few moments here of these

n days of this sort of last gasp of the legitimacy of this meritocracy. first, ex afghan president, ash ghani reportedly fled country with a $169000000.00 and emerges in u a. e. course. you know, we've installed him, he was our puppet that some minor max's taxes that he stole. and he took bare and escaped into you eat well, you know this, this is just one guy. got to steal 169000000. many billions more are also stolen by entitled people like this. like the thing tankers, like the military industrial complex, like the pansies, all of these people just plundered our taxes in the name of their marriage chop to craddick project. right, and the bankers, they print the money, you know, they keep it all, essentially the warlords in america. they print bombs and they go people with it, you know, but they get money for based on the number of bombs they may manufacture. right?

they get, they get paid on the gross. so the defense contractors in america get paid on how many bombs and bullets they produce. and boon dog walls and projects that don't make sense and how many countries in bay that they get paid on the gross, right. it's like a hollywood movie, they don't get paid on the net, they don't get paid on profit. they don't get paid. whether it makes sense, they just get paid on the budget, the gross budget. so that's why these wars, like it's a 2 trillion dollar warm, $2.00, joined all a warrant. people say, well, we didn't get anything out of it, but the producers of the war got paid on that to point. they got a percentage of the 2.2 trillion, like 10 percent or what have you. so for them it was again, this is the biggest hollywood spectacle. i mean, this is a $2.00 trillion dollar hollywood bomb, where the producers may so much money. this guy who just flew to wherever, you know, he's, he's essentially a hollywood producer, that he's a,

he got paid to be a participant in this incredible bomb and, and why hire extra when you can just kill actual people? you know, it saves on saves money for these guys. they get, they don't have to hire people to play dying victims of war. they just kill people, you know, and join us on later on out 10 years ago. and so this is just welfare for a club grants and one of the lords but the movies over for now. and i gave it a c minus i thought it was terrible. i give this movie a horrible review. i think the laugh janice danny, pull out from biden and crew, was one of the least entertaining of america's boone bottles. i gave it to f adult diapers or in the room. and you could see that in the final weimar, germany headlines here, because importantly, weimar germany did not have a global reserve currency. the us dollars a reserve currency. so can tell an effect in action, global 1000000000. our wealth has increased more in the last 17 months than over the previous 15 years combined by bet, queen. and as

a response here by then they adult diapers are in the room right biden. to increase food stamp benefits by 25 percent. the largest hike in the programs history, but importantly look at the international, sorry. 25 percent increase in food stamps. well, 31 percent. the soren cost of food is forcing families to scrimp at the table. food prices in july we're up 31 percent from the same month last year, according to the index compiled by the united nations food and agricultural organisation. so food prices got 31 percent. your benefits going up 25 percent is going to drive food prices up even higher for all those globally. and this is the last gas of legitimacy of the meritocracy. they just, all they know how to do now is throw money out of problems. that's what happens when you print lots of money. you know, you're, you're going to create the inflation rate that is, are ever expanding faster than your purchasing power on that expanded money. so it's exact, it's exactly the opposite of what we had the last 20 years,

where you had the labor cost shrink, but the cost of goods from china was getting even cheaper. so you have the illusion of prosperity now it's flipped for the adult diapers or in the room and things bad, stinking. well, that's real. it's real thinking. we're going to take a break and when they come back, so much more coming your way. the me, ah ah, psychiatric drugs are essential than millions of patients, or are they, they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term they really work. the problem is in the long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition that was meant

to treat instead of the beneficial effects of these different medicines, any up to something wonderful, very often they're harmful effects up to something terrible. can pills so of all ills? or are we trying to mitigate life itself? i just think i was like i was just scared, scare little girl. the 24. and like, didn't have to be so complicated. the me welcome back to the kaiser report. i'm at kaiser time now to turn to entrepreneur and business band for part 2 of our conversation with dan collins. dan, welcome back. a thanks. let's talk about china, post cub id, or perhaps it's better to say it endemic, never ending variance covered world. you feel they are in the same position as the

us post world war 2. and other words, us came out of world war 2 intact and they went on the american century is china same. they come out of it better than anybody else. there's that a good analogy, very good analogy. 1 if you look at the ports, the ports on all over the world are clogged with chinese ships and chinese goods trying to get products out of china and in the united states. there the are factories of not been bombed out by wars, but have been bombed out by money printing and d, incentivizing the production and manufacturing industries in united states. you know, you can remember 20 years now. academics have been telling us we're going to sell burgers to each other and everything's gonna be fine. is not fine, but we've been de industrialized the infrastructure rotted o b o deck. as the democrats, we have all kinds of social issues that have grown out of this, but china is the $800.00 pound gorilla, the global economy. you can look at it from anything. and it's not just

manufacturing anymore. 3 quarters of artificial intelligence. patents over the last decade of come from china, they're leading in quantum computing, mobile payments, e commerce markets $2.00 to $3.00 times the size of the united states. so their economy is just a juggernaut and it's a good reference. i mean, the next 50 to 100 years belongs to china. if they don't screw it up, you know, we're in kind of post carbon era. the phrase of the day is new variance, right? so this is what people are talking about and not getting into the virology out it. but does, there's no variance scenario. how does it play out? because i saw headline that china just closed a big city due to a new variant. the. so a micro, the 1st option is they go into some kind of locked down and supply chains get paralyzed, be they get through it or not. what are you saying, dan tweeted out and i expected that this delta various china may not be able to

stop it. they did basically incredible control originally or the alpha variance. people don't have a clear picture on what china does. they have what's called 0, call the policy. so if one worker and a hotel gets it, nobody is leaving the hotel for 2 weeks. they go in, they give you meals, you're basically stay in there recently. what were, what you were mentioning city and young joe, they had to think maybe a 100 cases. they locked down an entire neighborhood. nobody is leaving. 10000 workers are standing to support the people that are florentine are getting meals, they're getting whatever. but they're not leaving for 2 weeks. so at this stage it looks like they have stopped a little bit of this built a variance spread. there was one work or found in the near port, but i've talked to people there this the port should restart monday or tuesday. but in the reality. yeah. when, if china ever gets locked down fully, you know,

forget about it. you're not getting christmas. guess the world will stop because everything's coming to china. so it's still, it's still a game in progress. we'll see if they can control or not. and right behind delta, lambda and every other variance you know, come, you know, i mean there's 2 issues there. the virus and then there's the response and the virus is doing whatever the virus is going to do. and then different countries have different responses. and the fact that they don't match up creates a lot of friction in a world that we used to talk about in terms of globalization and how things were frictionless. and just in time, this really completely changing that paradigm completely. and i guess we'll see who's reno can, who's prepared for who can handle it. it certainly has led to supply chain disruptions you to it it, that chip shortages worse than ever know. and inside the cost could go want half of $1.00 to a one percent of g d p or

a trillion dollars. i'm assume we're talking about america there. elaborate on this . what's going on? tell us how the shortage is also encouraging a high industry, a big industry. in fact, chips, us as bad. it's also increasing inflation. so i've talked to a lot of people that you know, fortune 500 companies that buy chips actually yesterday the conversation and not getting any better. it's become a broker's market. there's a lot of big chips coming out. ships are showing up, they're not working. they're, they're, they're pirated goods. as i mentioned, it's up to a trillion dollars in global g, d p is going to be loss. it's spiking inflation. so if you just look at what's been in the news with the carmakers, detroit has a 1000000 car sitting in parking lot right now waiting to get chips retrofitted in the vehicles. but they've already front loaded their pricing. so you can see the price. there's skyrocketing for used vehicles and new vehicles,

their front loading all this inflation, but yet they still haven't taken all the cost hits on the, on the supply side yet. and you're seen record profits out of everybody, which is a bizarre situation with, with all the supply chain shortages in detroit right now, goes to rolling shut down every 3 weeks. this plans close next 3 weeks. that plans close. and that's just an example of the automotive industry is industry after industry. we are, you know, basically in a big, big supply chain, crisis right now. well, my understanding is that 80 percent of all the chips in the world, a manufacturer in taiwan. ah, no comment. let's move on to the deal. still prices are also a 23 percent in the past year. and now the biden administration is about the past. the trillion dollar plus infrastructure plan. can they execute those play without still? and where will they get that steel, dan? well, that's an interesting side point to the china, us relationships. so we don't the infrastructure package, we're going to need a lot of steel promise. we don't make much steel. china makes 10 times the amount

of steel that we make to make the boat roughly a 1000000000 times a year of steel. they've just announced a new policy literally going in the same time. we are infrastructure plan. they're going to limit steal exports. they put a 25 percent tariff on anything leaving the any steel product, leaving the country. they're going to go back to domestic use. why still take that tunnel or to import is very a polluting industry, a lot of carbon emissions and it's low profit. so trying to get, not of it just where we need to import all the steel. so it's, it's going to, at the very, you know, it's going to be just one more area of severe supply supply chain crisis united states as we try to rebuild back better is, is the bite and administration says, right. you mentioned a lot of iron or to make steel. i get a minor standing is a lot of accounts from australia and australia is going through. we mentioned that different countries are responding and different ways to carbon australia seems to

be on it. really a unique path in some ways, i don't know if you look much in australia, but they, they made the lock downs in china same mile by comparison. it seem, seemingly, i said, what is your view on that? if you have one, as you mentioned, is all different, different countries. i've been very draconian along with the u. k and the u. s. not so much in the u. s. we've seen that we did, i think, well, that seems but then we just have a policy of letting it burn to the population. china has done a lot of non vaccine stuff to control coven mobile apps. you know, everyone has a mobile app. they can tell, have you been any positive case, your mobile phone number gets loaded up and through the telecom network you go in, you can tell if anyone with cobra been near you within the last week. so they're doing it. they're doing a lot of the different initiatives to control it outside of just vaccines and just let their plow through the population, australia they've done, you know, basically draconian locked down,

but you have to make the decision. how long are you going to make people locked down already in the year 2 in this thing? yeah, i guess getting back to the chinese economy. so, you know, one thing we always talked about for years is the, the chinese currency and how they use it to boost their exports. why kind of managed to get in a cheaper way? this would make import expect expensive. and so the chinese middle class were, couldn't afford, you know, the middle class lifestyle because they were busy at the factory. shipping stuff to china now is a dynamic things recently. they have now been emerging middle class, is there in fact wage parity between america in the u. s. do we see that happening? because when joe biden 1st was talking about china entering the world trade organization, he said they'll never amount to anything. they'll never make any money the, they'll never know how to get a middle class. what's the, what's the current look at that? china has a massive middle class now. it's actually larger than the entire united states population. they identified their targets 20 years ago to have what they call

a mildly prosper, prosperous economy. and i think that's like with 250000000 people is making more than 20000 a year. but obviously $20000.00 goes a lot farther and china does in the us chinese workers. i actually ran a steel plant year decade ago in china. we paid workers $100.00 a month, eventually, but 3 years later, we're paying them $800.00 a month. now days chinese workers easily can make 150-2008 month. so it's not a lot, but it's much, much, you know, you have to go back 3040 years ago, china had the economy of subs here and people were live and nothing barely had one set of clothes were eating me. i mean, it has been incredible. the economic transformation has happened, but the, their middle class is booming and you know, there's kids are studying. they had the private tutoring company. they've been killed off because kids are studying from 6 am to 10 pm at night is too much. so

they've gone through this renaissance, the economy is going to continue growing. they may put, they may, they may make a lot of mistakes on the way, but the trend at this point are so unstoppable. it's almost impossible to see how they're going to reverse. while i look around the world and i see protest all over the world, particularly in europe in france, around europe, you see people on the streets actually protesting. you see a lot of police action in these areas as well. what the social cohesion element in china, it is, it has its own culture. it's a time in this country. it's a huge, a 1000000000 you know, plus people, as you point out, is technologically networked with great precision. and it's all controlled from the center of the government. what is the, you know, via the street in terms of social cohesion, just for the average work or the average chinese man or woman? what was their feeling? oh, china is very cohesive. it's largely homogenous, is extremely nationalistic,

patriotic, there is, you know, if you're, if you are going to, if you are an alien and you came down, which countries going to class 1st, china, the united states in be 100. the one in favor, the united states collapsing 1st there china is no way going to break apart or be socially torn apart. the us intel agencies are trying that with ridiculous claims and she's young and things like that because that is the one province of china that ethnically different. if it's 50 percent of the people are weavers from young, 50 percent, are hon trainees, but a lot of terrorism and things like that. they're in the past. they're trying to break that area off of china to create you know, into great chaos in china basically. so the terms of overall social cohesion, china is basically full speed ahead. as far as i know, there are times of time there are certain issues people get upset about, but it's nothing like what we see in the united states at all. the other team building is getting burned down in china while every country is going to have to

make deal with what they have, you know, going forward in that area of d globalization and a lot of it's based on character and history and we'll see how it all works out, but it's going to be interesting. next 20 to 30 years. dan, thanks so much for being on kaiser report. thanks a lot. all right, not going to do it for this edition of kaiser report with may max kaiser and stacy herbert want to thank our gas, dan collins. and so next time by all the me, the family is not with the market yet. i took market function. you have a good way to check the number. how do y'all do? i'm john got that. i've got that limit and i wanted them off. you're

gonna go back to the left me about the less about i get up there for us. the news and headlines. this lunchtime, from moscow, the u. k. wally of a severe risk of a terrorist attack and cobble airport with it. and other nations telling the nationals to stay away from the site. but nonetheless, thousands are still amassing their desperate to get out before that moving evacuation deadline passes.