kaiser, this is the kaiser report, boy, boy biden. let one rep. oh my god. yes. well, he's been ripping a lot of interesting things lately, including this headline of double thank infrastructure spending will ease inflation by it and says, yes, war is peace, free them is slavery and ignorance is strength. max, right, right. this is the ongoing coverage of how the language is being used to cover the fact that governments are causing inflation by printing money. they used to call the inflation, they were creating deflation. remember i talked to danny blan flower about this a few years ago than when it became obvious that the money print thing was actually causing inflation. they said, well, yeah, but as transitory now they're starting to realize that it's secular and long

lasting. and they're starting to say things like, we're gonna do exactly what we've done here at the u. s. government by blowing trillions of dollars on a white elephants on boone da goals, and somehow that's going to cure inflation. when of course, it's just going to exacerbate inflation there. this is a recipe for, for more inflation. so it's financial a literacy mixed with state sponsored propaganda over there at the major american works. and speaking of letting one rep of course buy it and was reported in the u. k. press you k tabloid as having let go a long, loud, far at the at cop 26. and that's kind of double think as well is that, you know, the 400 private jet said arrived in glasgow to, you know, of the elite, like jeff bezos, who, you know, blue office giant rock it into space,

spewing lots of carbon and stuff like that. so they all met in order to blow some hot air into telling the ordinary schmock out there how they're going to have to reduce their energy use an order so that the elite can continue living like charlie and arrows and quadrillion areas. so that is, you know, also part of this hot air, this, letting it rip that he has done from his mouth. alright. well, the only one complaining apparently was camilla parker bowles, married to prince charles. and at least joe has the decency to fall out of the appropriate orifice. whereas prince, charlotte is constantly farting at him as a mouse, as does camilla parker bowles. so that's the british style. and then if we have war is peace. if we have freedom of slavery and ignorance a strain,

we also have squalor is luxury progress are actually squalor is also progress, right. used to be that for much of modern society, we've tried to progress the lives of wall people, right? and california is the epitome of the progressive state. one of the most progressive states in the united states and certainly san francisco tells us constantly in their double thank that this is the case for them. they are the most progressive state in the union. and that is contradicted in normal speak by the have mind. san francisco luxury condos overlook cities, worst squalor quote. i don't want to be afraid to live here. this is from c b s san francisco. and we will buy them. cute tense is something that brian romilly picks out from the article. currently is progressive people, bunch of vice and cute tents for the homeless people is the highest concentration

of homeless people under a new condo development whereby they apartments are classing. a 1000000 dollar and out is something like called the ar tawnie, but the quotes in here i just, i think i'm a perfect representation of also the u. s. empire and how the u. s. empire operates as like this shining city on the hill where this great example and exceptional nation. and yet everybody else looks better with that same use look of you like. what you see here. so a one way, one block alley in san francisco has neighbors living in constant fear and afraid for their safety willow, st. 15 van asam pole, currently has the highest concentration of tense in san francisco. quote, it's pretty consistently nerve wracking, said resident amber, let's go. this just seems to be a safe space for chop shops and drug trafficking. right? well the whole idea of progressive ism, that notion politically speaking, was invented by hard core capitalists. and we see it in california because san

francisco. silicon valley is a product of the military industrial complex that came out of the technology industry located there. the j paul getty certainly is a hard core industrialist around the los angeles area. and the way to cover their tracks during the old robber baron days was to create libraries and social institutions and to do the social justice warrior thing, but 100 years ago. well, now that american economy so longer competitive globally, and these big industrialists are actually moving their money off shore. they're moving it into this giant $25000000.00 managed by the 4 big accounting firms slush fund in the middle of nowhere as well where it can't be tax. what's left is just the rhetoric. so you just have the people talking about the social justice warrior, but they, they, that, that the capitalists that make it possible have left. so what's left is just squalor. so they're going to go down and then the gutters are going to be in the gutter, literally in san francisco,

pooping on themselves like joe biden. you know drug addled with a heroine needle stuck on their arm talking about shar sorry, tara, and the getty museum and what they're going to the, you know watercress sandwiches. i'll be having for lunch shortly before they expire . i'm my add that this of course is lava lamp looks like it could have come out of haight ashbury and the shape of a rocket, of course, also comes out of the west coast whereby a lot of the rocket technology was designed and you know, the likes of even mosque fled from california recently in order to write their progress. they weren't moving to texas, where they can hard core capitalism to survive the american style. and that's where you're going to see a lot of growth, texas wyoming, best, where it's all going. it's leaving california new york, those places that have been taken over by the families. i want say, i had a joke there for him. and i gotta, i gotta leave of gold, gold out,

baldwin alone, this episode. right? but in terms of comparing san francisco to the u. s. empire broadly, and the double think that you have to believe contrary to what you see with your own 2 eyes, you have to pretend that this doesn't exist. so we're told over and over and over by themselves, by the people who live it is. this is the most progressive city in the world, and we see absolute squalor into sophia, the same thing with the empire that we're like there to save everybody where they are to rescue everybody where they are to help everybody where indispensable are providing all sorts of security blah, blah, blah, blah, blah. well, when asked what the most egregious part of the street was, one of the residents said, probably the threats of violence, the threats of violence to us, other residents in the building. i've seen people physically fighting and i myself was leaving once a man approached my car, yelling obscenities and threatening me, which was really scary. said a resident named shannon who declined to give her

a last name for privacy reasons. there was a guy who passed out in front of our door with a needle hanging out of his arm all day long and our children and walk past that. joe joe privacy boris yeltsin of the american experiment. and you know, he is overseeing the collapse of a once vibrant society and it's happening in the next 24 months that we're going to make the collapse of the soviet union look miles and comparison. because there's 2 major arlo pointed out as great essay collapse. gap for the soviet union fell out of a one story building. the united states is going to fall out of a 20 story building and the splatter. the blood splatter on the sidewalk is going to be considerably more rich. well, but it was trump before him. obama, before him and bush before him. they all acted on this oral stage about, you know, doing actions that contradicted all their words and that everybody in the media, everybody in the population with claps saying yes, yes, we're, we're not moving on the street. we're not pooping on geo politics of nations all

around the world. and here's another quote from this article about san francisco, which i think is peak. the peak of the end, right. the last gas on the entire u. s. g d p. anything that we export is the weapons, and i p from san francisco and los angeles. so here's the, the last of it. they shared photos of a man, they say regularly urinate and throws feces. the smell permeates the entire garage . another photo shows a man trying to break into their garage by using a bottle to keep it from closing. others are captured, damaging their property, even trespassing and stealing packages. so again, that's what i'm saying is not only do we have the, you know, urinating, throwing fi, see sort of, you know, heads of state travelling around the world, telling us what to do. we have the same sort of thing. we have video footage of them doing the same of damage and property and then tell somebody else that they have to pay for it. remember, when we were is saying that iraq had to pay for us bombing them. for example,

like this is the same thing as cognitive dissonance. sure or outright, it's a free by the population that is not accepting or as hyper normalization would be a good. the curry documentary that goes into that, i'm not out of curry, of course, is the famous mtv j d j v j for many years ago. but adam heard adam curtis and so i'm thinking of hyper normalization. that's where we're heading into everyone to check out that documentary. so again, we're told this the biggest empire in history of the wealthiest nation in history. but we have squalor in there one of their richest, if not their richest city. and the united states, which generates more of their g d p than anywhere else with high tech and, and we know social media and that sort of stuff. but you also have these sort of quotes and that, that, that the situation cannot be resolved, right?

so i can't really reconcile just the fact that this criminal activity is allowed to happen. i myself a called the cops, a number of times said one of these people. so let's look at another headline about what they're suggesting for san francisco. so here's a woman being terrorized by homeless people in her street and most of them by the way, or, or actually just drug addicts or mentally ill and need hospitalization or athens. him, you know, the freedom to poop on the streets. well, here we have residents and city leaders are searching for answers, should they tolerate burglaries as part of city living and focus on barricading homes instead, ask the san francisco chronicle. so this is they can tell in v r world, right? the can tell you and heirs get all the free money. eli mosque is where 3c5xb2c5xb of it in the last year alone because of the curing, all the problems out there. so they get to build the citadels. they get to build

their safe spaces. they get to be removed from all the consequences of their own actions. you the ordinary jo, bagget donors with perhaps only a $1000000.00 to your name, living in san francisco. you gotta just tolerate it. you got to accept that your, how your car is going to be burbled. your house is going to be burbled. you might have feces thrown at you, but that's the, that's the cost of living in a progressive location. well, it's back to a futile time. so trivial ism is back near fatalism, american style, that sounds like it could sitcom, hey, we're going to take a break when we come back. watch mark coming your way. ah ah ah,

what we've got to do is identify the threats that we have. it's crazy even foundation, let it be an arms race is often very dramatic development only personally and getting to resist. i don't see how that strategy will be successfully, very difficult time. time to sit down and talk we're empowering ourselves to be more efficient or quicker with our transactions. we can make mobile payments from ourselves. the truth is that every device is a potential entry point for security attack. i think, okay, but i'm going to change that clear with you on that and i thought of a meeting, but only eventually there's malware of thousands, maybe sometimes millions each day. they use the cyber,

they use the technology as an extension of traditional crime. artificial intelligence has not many main threat. this is due to the 3 laws of robotics. one of the things that's happening in the mini cyber implants right now, i'd be where they're really worried about it. most people, equally b, you can put a chip in my brain. so there has been a lot of progress from the hacker site using ai and using other advanced technologies. there has been on the defensive side we can now look into people's minds. rita, for the question then is what kind of consequence we, we could take from this. i think you take the example fly, it would prevent us from lying. we wouldn't be able to lie anymore if everything becomes transparent, but what we're thinking ah,

welcome back to the kaiser report, i max kaiser time now to turn to marshall outback market analyst and levy institute researcher marshall. welcome back. that's great to be with you as always. alright, now marshall. you are a market analyst. why our markets continuing to hit new all time eyes, despite an ongoing global pandemic lockdown to supply crisis. and this inflation raging gray question, i guess when you had a central bank or a series of central banks that have effectively committed themselves to back stopping what seems to be every risk. acid insight markets eventually adapt their expectations accordingly. and to say it's, it's time to pile in, we're going to get bailed up by the fed somehow as really, inflation well, you know that that's all the more recent, i guess for them to continue to put money in the market because they'd be due that cash is trash, i believe that ray dalio

a bridgewater express you not too long. right. what is the inflation picture in canada? it's kind of unfolding in different ways, different countries. and my understanding is that it is people are saying it and the consumer prices of things for energy, for gas, i believe it's happening. what, what's the picture there? you know, i think this is a global problem. there has been way too much reliance on just in time inventory accumulation practices and the belief that the whole offshoring model was seamless . they would never be any kind of supply side the disruptions, cobra has, has, i think proven in the the latest example why that flawed but there's many examples before that and they're not going to be easy. it's not gonna be easy to reconstruct those supply lines quickly. given emerging geopolitical tensions and also because a lot of these skills aren't easily replicated at home because the skills have been eroded because of decades of off shore. right. imagined the central bank seems

willing to backstop any risk asset. and that, that's certainly the situation around the world, the central bank seem to have abdicated their role of market stability in favor of bailing out guy. and so our over leverage. now, the conservatives in canada seem very attuned to this message and they're actually calling for the bank of canada, the stop in flaming money. the left is really all for the social programs that they claim are necessary and that money printing, i'm sorry, or who. how do you weigh in on that debate? i'm of a belief that much of it is a question of how you spend the money as opposed to the, the $5.00, the really taxes per se. so my problem throughout this whole quite if it has been that billionaires have continued to get considerably wealthier than the rest of us, and that the money has been deployed de very inefficiently. if you are going to

stop a all economic activity in the interest of arresting a panoramic, that's fine. but those that are suffering from that i don't think have received adequate benefit. and those who haven't suffered as much or oh, can afford to pay the costs of the the shut down have just stuck their hand up to the government and got one they, they required. and so the whole, as i said before, the whole incentive system has been completely skewed. you know, it's not, it's not capitalism. it's capitalism for the rest of us. but socialism for the rich . right. so you mentioned where that money goes as a key question. we have both in the us and in canada and other countries. i guess you could call it a surfeit of a leads of folks that their primary job is to simply determine some call to control the fact they don't seem to be doing bad except to be traffic cops for all the money pouring out of the central bank do we have too many leads? bought a martial?

yeah, i mean i have no problem with people getting a wealthy, a through entrepreneurial activity. but a lot of the elite effectively have their mistakes back stop by the government. we don't have a genuine free market in that regard. and then they tend to use their power to skew the system, and that's benefits even more towards their advantages, which is that exacerbated the inequality problem. so, so that, that gives you a very unhealthy social dynamic. you populism which in itself is not bad, but it does lead to massive social instability. and you know, in the past we've had those kinds of events. it hasn't ended well historically. right. you know, we've been talking for a number of years and it seems like what we sense was going to happen is now happening that the last

a fair policy is when it comes to money printing. we're always going to lead to big problem and it seems like they're reaching the end game of this. because let me, i guess the question is, a central banks are really unable to do what they should be doing. and that is to raise the interest rates to restore some bounce, but they have over leverage themselves in such an extent. and i'd go back to the 1970 s, and the paul volcker years were saying leverage much higher than we ever saw during that period. they really have that. that's really not an option on the table. they don't have that option at this point. they put themselves in this position of that you have sense was coming up. i have sense this coming. so what is the end game? because there's only 2 options. i mean, i'll pepper this will accordingly. it do, you can have a bond collapse and i literally restart everything from scratch. or you're going to have a really, it was called neil feudalism,

where you have the time for a few 100 own essentially everything marshal. well, i would argue that we're already at that, that kind of new, if you to list the structure right now. so my, my feeling is always been that, you know, as you said, it would end up on market collapse of some sort. i always felt that increasingly, i've been of the view that inflation would be become the problem, but there'd be a lack of political will to deal with it. because you have, as you say, a private private debt level are so high. and they're so massively skewed towards a, the vast majority of us and it's, and it's in the credit of class, it's got increasingly smaller. so in the interest of some kind of social stability and the reluctance to raise rates because of the high private debt levels. i think you got like a debt company getting pulled inflation, but ultimately roads the, the real value of the states. so the creditors will get screwed. the question

nations will get screwed, will have much higher inflation. as a result, it won't be good for anybody because as you pointed out, ever we all have caused our experience and cost of living increases. and because the economy is so massively skewed towards a, an upper tier, more of us will feel that inflation disproportionately. but at the same time, the debt servicing will also become less reduced in real time. so that's, that's not an attractive scenario. but i think that's the less socially the stabilizing all the going full on 1930 sell the place. let's walk that in to the natural progression of where this could leave. and when you're talking about that kind of approach, you have to consider the possibility of there being a hyper inflation. that is a complete loss in the currency, which of course we've seen historically. this is also been a precedent that we can look toward us dollars,

world reserve currency. the idea of the us dollar going into hyperinflation seems remote, how for the money printing in the u. s. has doubled in the last 8 months. the m to money supply has literally doubled and is on track to double again, which is what you see in hyper inflations. how are we risking hyperinflation, marshall? yeah, i think that the, the, the hyperinflation episodes that we've had in the past, you know, he was like, well, by my they took, was in bob. but it has been as well. and i think they've been over years. but today, i think you have an interesting situation. what has characterized most episodes of hyperinflation is not only that you get ongoing stimulus, which should sustain the demand side. but you also have constraints in the supply. and in the case of by mar that came because you have the, the french occupying the borrower, which was one of the most productive parts of the german economy. so that they could productive capacity of the german economy required to service those debts was

impaired substantially, even as the government kept printing more, more deutsche mark rice mart, i think they were called them. and likewise in zimbabwe you had productive economy of b. as in bob in economy impaired by decades of civil war. and so that when the, the government started to nationalize a agricultural production and put more but in the hands of their cronies that tend to just make problem. but they kept on printing more more. and bob with dollars, which also created the hyperinflation. so today you have something which is somewhat similar in the sense that co bid and the ongoing pandemic restrictions have impaired. significantly our capacity, our supply, the supply chains are impaired. so there are capacity constraints. and if you get big outbreaks of the new waves of the disease coming along me and then the

government starts introducing lock down, what you get in pairs, i capacity further. and then there's a call for ongoing stimulus to provide relief. so that does create conditions which are potentially more inflationary than we've seen since any time since the 1970s. and you could get much higher inflation. yeah. want to talk about labor. so you mentioned the word a little while ago. incentives. interesting. weren't there certainly key and understanding economics now in the labor force, folks are quitting their jobs because they're getting more money sitting home than they would at work. folks are getting more cobit relief than they would going to work and pos is hazardous to go to work. so the incentives to go to work have been undermined. and you know, for labor, for workers, the, the, the idea, again, not, not to get overly hung up on the left, right, divide, but, but the left tends to think about, you know, more and then labor terms. but the i,

but how do you incentivize labor if it's not even a matter higher, higher rates, and they're not incentivized to work it like they, they, they, they have the power now they know they know that, that have leverage for the 1st time in decades. hughes gave me your turn to see drugs like john deere, for example, and i don't blame them. i mean, if you look over the last 40 years, you know, you've had a persistent undermining of unionization capital has, has a capital share of g d, p, and profits has gone substantially towards the top tier. so you can see that now they finally got some leverage, they're using it. but the other, the other problem is that as you move that labor force all shores, you put a lot of productive capacity into place like china. a lot of those skills have been eroded here in canada or in the u. s. so that even if you start paying substantially higher wages, which some of them are doing, you know, you may not have the capacity or the ability to replace those jobs because the

people looked at them before aren't there anymore. and that's, that's the real list. plus i say that the labor market is it's much tighter than most people appreciate. i think there's been a real a problem with a lot of the, the, the, the continuing claims data. it's, it's conflicted, very much with a lot of the evidence on the ground with the labor market has remained very tight and you can see that even in states that removed some of the cobra release packages back in june july, you're still seeing ongoing labor tightness in those areas, so it's really something that goes beyond incentives and just you know, ela beating wages would certainly help to attract more people back into the workforce. but another problem is that you've got it, you have this massive degradation of social capital. and again, i would say that i'm a product of excessive off short martial thanks. bang on kaiser report. thanks for having me. i'm not going to do for the citizens guys report with me max kaiser, stacy herbert, thanks to our gas marshall our back until next time bio. ah

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a korea professional sport is tougher on some than others. a u l. i might buy everybody here. so why would somebody believe me? i was just a little girl to price upgrade to to, to achieve really was was fall, change a read on the paper. this morning, usa swimming coach, arrested leslie had sex with a 12 year old girl. this happens almost every way we get calls at the office. i get informed about one of my greatest fears is someone is gonna start linking all this together. and it's going to be a 60 minute documentary about youth coaches in sports like gymnastics swimming here is that documentary. i see it on our tea ah, with

who to medical aid in short supplies, thousands of migrants. camp at the border between better was in poland for a 3rd night in a row of correspondence at the c. brantley this girl and with the french visit, now she's bleeding and she needs help. but the problem is that there are no medic around. there are no doctor is around and i was really nobody knows well how to deal with this cove. it cash road mcdonough locked in a better battle with the u. s. government over its lucrative rights to its back see and with a probe into the discredited from russia danasia underway, we look at how the mainstream media and the democrats are refusing to face the facts. ah.