ah ah, the asylum seekers may have to wait months at the e. u beller is border to get processed. if a new plan from brussels gets the go ahead. rights groups say the move throws way. the rule book. nursing unions around the globe call ford cove. it vaccine patents to be lifted, blaming production restrictions for deaths in the developing world and the constraint will be followed by others if we cannot act and it's all countries in an ad here to think of vaccinations, trafficking, and then with cancer catastrophe, senior medics react to damage government findings that 700000 potential cases may have been missed. since the pandemic began. those are headlines. i will be back in just under an hour with another fresh look. stay with us. this is our to

international. ah. on this week show this variant is such a bugger that even mask haters are re masking but some cling to the mask and not because of cove it psychotherapists nancy collier will explain and she may touch a nerve. but 1st we're all feeling inflation. but for how long i'm holland cook and washington. this is the big picture on our t america. ah, the usa economy is being tested. will it pass or failed? what's asked the author of a stack of books, most recently navigating the boom bust. michael, an entrepreneur, a survival guide,

a portion of the royalties of which will be donated to free market education organizations. murray sabern as professor emeritus of the school of business at ram, a polk college. he is a former candidate for governor of and u. s. senator from new jersey. back to sabre in welcome. it's good to have. yeah. well, thank you hollan, i really appreciate this opportunity. another of your books is titled why the federal reserve sucks and as with fed chairman before him, jerome powell speak, beggs interpretation. here's what he told the senate banking committee this past week. i think the word transitory has different meanings to different people to, to many it carries a time, a sense of, of short lived that we, we tended to, to use it to mean that it won't leave a permanent mark in the form of higher inflation. i think it's, it's probably a good time to retire that,

that word and try to explain more clearly what we mean. that clear as mud professor you write that recessions are unfortunately inevitable and are mixed economy where the federal reserve has taken on the responsibility to quote, manage the economy to provide high employment and low inflation by targeting short term interest rates. this cove at variance story has blocked out the sun. does the pandemic interrupt or exacerbate that boom bus cycle? well, holland, it did both because according to my research, the he inverted yield curve, that's when short term rates go above long term rates occurred in mid 2019. and historically wendy hill curve inverts inflation, recession follows within a year or so. so that means we would have had a recession, emit 2020, or thereabouts. what happened, as, you know, in the 1st quarter of 2020 depend advocate, the federal government locked down the economy as did state governments,

the economy, imploded, unemployment spike. the federal government spent little trains of dollars overnight to a back up the economy, the federal reserve, what 4 trillion dollars of debt to stimulate the economy. and here we are a year at nearly 2 years later, and inflation is rory. this is not news to anybody who studies that only monetary i economics, but financial history. because once you put the foot to the pedal on the central banks, monetary expansion, you're going to get inflation. so even a normal times for all the talk of free enterprise, laissez faire capitalism, that's not really what happens in the usa, correct? absolutely. we have 3 types of economies in the country. we have for the free enterprise economy, which is the one that gives us the goods and services that we want. and we all can relate to that. the mom and pop stores on main street. the big box stores in the us

and the internet companies or the online companies. then we have socialism in the country and that would be the government schools, the roads. and of course, the federal government owns a good portion of the western lands in the united states. and then we have the mixed economy that we are trying to grapple with. and that is all to regulate, or all the regulations, the crony capitalism. and so that it can be also called economic fascism where the government doesn't own anything, but really directs and controls and manages the free enterprise up economy. and that's the one that gives us the most trouble, particularly having a federal reserve that tries to manage economy by manipulating interest rates and a very cryptic fashion. i was just a year ago that we kissed off 2020 thinking the new year would have to be better. and now a 2022 is a great big question mark for businesses big and small. what are some of the fundamentals you detail in your new book?

well, this is the thing that is really interesting about what happens during a cycle. during the cycle, you get euphoria, people see entrepreneurs ceo's cfo. see that business is booming. so they start expanding because they think this boom is going to last a lot longer than it really does. and so interest rates tend to be low than they start to rise during the boom. and before, you know, without the feds stops increasing liquidity they, they had, in order to quote, generate this unsustainable boom. and therefore, what you get is of the bust. so right now what businesses should be doing is raising cash, follow the lead of warren buffets the head of berkshire hathaway, who has a $149000000000.00 on the balance sheet, because he doesn't see anything of great value out there. so he's waiting, i guess, for prices to come down, either for stocks or for africa buying outright companies. i have been told to from time to time by people who exit candle my finances, you're sitting on a lot of cash. i am ready when something happens by doing so, haven't cash is not

a bad ideas. it cash is, is the ultimate asset. it's the most liquid asset that we have, unfortunately, and this is the real problem having in america today is because of the federal reserve policies of depressing interest rates. we're getting virtually 0 on our savings, money market account, cds. which means that if a retired couple has saved $200000.00, let's say in a money market account or their savings account, they getting close to 0 with inflation running at 6 percent. they should be getting at least 6 percent on that $200000.00 or $12000.00 here, which, which would help pay their bills. but instead, the federal reserve thinks they know best, what interest rate should be. and they're really hurting the low middle income classes. and of course, retirees, which is worse, inflation or deflation. well, it depends if we have to look at it this way, inflation really harms senior citizens, people on fixed income, low income people who, who don't get a big raises during the,

during the boom. so inflation really hurts a lot of people in the pocket book. now deflation, there are 2 forms of deflation. there's good deflation, like we had in the last 3rd of the 19th century where we had basically allows a fair economy and prices were going down. wages were either going up a little bit or stable, and real incomes were rising throughout these latter part of the 19th century. then we had the bad deflation. the one that everyone knows from 1929 started the great depression to the bottom of that cycle. in 1932 we're unemployment rate went to 25 percent. that deflation was painful because it eliminated a lot of the distortions that occurred during the roaring twenties of sis unsustainable boom. we're speaking with dr. murray, sabre, an author professor and past political candidate, every one in austria is now required to be vaccinated. and it seems like every one in america who shops at wal mart is angry about wearing a mask,

a dock. what is your libertarian take on pandemic protocols? it's been a disaster. i have a good, a long time friend, a physician pharmacist in new jersey. and she said to me, wearing a mask to prevent cove. it is like putting up a chain link fence to keep out the mosquitoes. and she's been using all label protocols to treat people with colbert and prevent people from getting colbert. she's. she's worked with tele medicine, seeing about 2000 patients across the country. 5 have been hospitalized. i think one death of that 2000 patient load that she saw, which means that she has an incredible success rate. given that we're locked, we locked down the economy for no apparent reason to stop the virus. viruses happen all the time. the flu season happens every year we did like the economy. when we had that flu season, businesses kept open. no one was mess and the flu season came and went. a good at

at the d. ology will tell us, wash your hands. don't be around people who will sneezing and coughing, and if you seizing and coughing, don't go to work. so where you want for the virus, but these vaccine mandates for companies that do business with the federal government and others that has to rank a libertarian. done that. oh, absolutely. because so here's the thing about the vaccines. pfizer just announced that they don't, they do not want to disclose that the ingredients of the vaccine for 50 years. now anybody who knows anything about medic, medical ethics that patients should have informed consent when they're taking medicine or a vaccine. where is the informed consent of the american people in getting this vaccine? and besides the vaccine, usually a vaccine usually gets tested over 3 to 5 years. this tac vaccine was rushed very quickly. and now we're seeing reports of adverse reactions is and best to the vaccine. and many of them have not been reported to the government. the reporting

system. so there are a lot of questions that people have regarding the advocacy and safety of the vaccines for all washington is accused of not getting right. i personally have found medicare to be a well oiled machine. you have also written a book titled universal medical care from conception to the end of life, the case for a single payer system. i've got about a minute left, so i need the elevator speech, but i gather you are the inverse bernie sanders make the case. medicine is the most important relationship that doctors and patients had. and therefore, the government should stay out of it and allow patients and doctors determined the best treatment for any illness that they at. and the single pair that i envision is the individual and family where they pay out of pocket for normal, routine visits. they have a huge health savings accounts for more expensive treatments, and they have a catastrophic policy to cover the really big stuff. and this is the type of system

we had basically for medicare and medicaid introduced. i remember as a youngster, my parents taking me to the doctor was $5.00 for the visit, a few bucks for the antibiotics. no insurance forms, no hoard of clerks filling out these forms. and everyone was happy. doctors made money. patients got the coverage at a low cost. my father had a major operation. 60 years ago, he had blue cross blue shield, major medical. it covered the cost of a major new york city hospital. there was no problem. government intervention in medical care has distorted and race prices beyond which that, that we wouldn't have if we had a free market medical care system. i gather you and i are about the same age. and i have that same gauzy vision of health care when i was a kid. thank you, professor murray, saber, and please come again. i appreciate your time. thank you hon. i appreciate the opportunity coming up. fights are still breaking out over masks. they do protect us from airborne viruses, but so many keep masked up to say safe. and others find masking comfortable

for some uncomfortable reasons. we'll talk about next. this is the big picture on our t america. ah ah ah, ah, join me every thursday on the alex simon show and i'll be speaking to guess in the world, the politic sport business. i'm show business. i'll see you then. me . personal pinnacle of evolution. everything's flat. a bacterium is the product to 4000000000 years. we've been using it in

a specific environment. so we, so in that sense, when we on the left you survivors, it in to vote along a long process. you so as in silver springs at yellowstone, and we will not do very well. bacteria will do much better now since ah, disturbing videos we see of unruly sometimes violent airline passengers and wal mart shoppers demonstrate a mask resistance that is not helping us reach covert. heard immunity, but some among us actually prefer masking and not for the reason you think in a recent wall street journal report, a tokyo psych kaya tristan university med school professor explains that masking, which was common, and asia pre pandemic helps people temporarily escape from tension and

anxiety, but also makes it easier for us to be isolated. he says we humans cannot live alone . we live in a society communicating with others. in any misfortune, there's money to be made and many are making the most of mask mandates by sporting stylish, sometimes pricey masks. but could this fashion statement be masking a social anxiety disorder? let's ask the author of can't stop thinking how to let go of anxiety and free yourself from obsessive rumination. a very thoughtful read available on amazon psychotherapist nancy collier joins us from new york city. good to see you again. nancy at cove id fear a side. what else can contribute to what's being called masked dependency. glad to be here again. and one of the things that i am seeing is

people feel more protective. they feel more protected, not just physically when they're wearing a mask, that they feel just in their own bubble. and there is a growing sense of and i will say holland, this is the minority. most of us want to get the mass. we want to get back to seeing people's whole faces. that's. that's the real majority. there isn't a set of people who feel safe inside this little cocoon. so there, yes, but i would say that these people generally had social anxiety before. this is just kind of a nice class for them to get to hide a bit more. the vast majority of us are itching to get back into the world and

stop having to put this thing in our pocket. a man journal story sites. a july survey by a cosmetics company that found 3 and 10 people think a mask is useful for hiding skin blemishes. nancy, what about covering up your face? just because you're embarrassed to show it. you know, i actually was meeting with an 18 year old. the other day who said exactly that, he's got a bit of back me and she said, it's an incredible blessing because when i'm just relating with people, they don't see, you know where it is. and so on. again, holland, i have to put a shout out to 99 percent of the population that wants this thing off of our taste, which for just as many people is creating skin conditions from the oil, the caching. so i think these are important,

very small subset to the population. and yet, in, in the last year and a half of talking to people all day about what's going on, i bumped into one person who felt that math was a blessing. as far as covering up some shame. the folks you council all tend to be human. but you know, who else doesn't like mass dogs, because they take visual cues from our facial expression as do children who watch their parents mouse as they are learning to talk. eventually we're going to get past this pandemic and some mental health specialists. fred about the looming dilemma for the terribly shy who have found covert a convenient excuse to hide in plain sight. nancy, your advice for those watching and listening for whom what we're describing hits a nerve. you know, i would say that for people who are really affected by this kind of thing, it's

a wonderful opportunity to seek some kind of help if terrible situation we've all been living in is region to wake up. so it's not coded that's creating it. it's not the math, it's creating it with the math. whatever it is we're talking about is another thing, a bigger issue, which may be a self esteem this year. it may be sensitive in purity that needs to be dealt with on its own. so we sort of bow as much as we can to this 10 meg as making you more aware of the underlying condition. don't fester talk to someone. were speaking with author and new york psychotherapist, nancy collier about life after they shut down. nancy, you are with us when the shut down 1st hit, and you spoke of the city being in your words at that time,

startlingly quiet and incredibly beautiful. i remember you waxing philosophical about the near abandoned streets back to the future, and now that the buzz is back. how does the city feel different? well, i will say that time was year really beautiful. it was a paradox. you know, as, as the ambulances were picking people up, at the same time, nature was blooming. and the absence of airplanes was so striking. and you could actually smell the air as different, and it now christopher and cleaner. and it was, the silence was quite uniform. i would say now the city's birthday is punching and buzzing and thank god, there aren't the outside more that we all had to walk by. i

cannot describe that experience. it was, it was her at a level, i don't think i've ever seen in the city. but what we have now is a vibrant. it doesn't have that quality of post 911. i was here then as well. that had a melancholy vibrance of frightful vibrance. what i've been talking to people about and picking up is an excited vibrance. let's do this. let's, let's live, you know, the restaurants are packed and the streets are packed, the parks are packed and people are smiling. it doesn't have that done. sort of what have we just lived through purse 911. it idea. i said it has a joy and an anticipation that that's what's being held on the street. what is

unthinkable is having to do a u turn and don't shoot the messenger because cove, it is what experts are calling a novel corona virus, meaning we're still learning it. and these various aftershocks demonstrate that it is learning us. and with the holidays here, lots of long time, no see indoor gatherings are going to risk the sort of research we saw after last year's holidays. nancy, how can we brace emotionally and disable the dread of the possibility of another shut down? well, i think the dread is natural, you know, it's, it's, if we didn't feel grid, we wouldn't be human. of course, we feel, i don't think we need dred. i think it's fair to say it feels like there's the potential for disappointment. right? but if this virus has taught us any, it is that we don't know. so the idea that we're all going to go back in and it's

going to be more deadly than delta. these are all what is we don't know. we're just the beginning stages of understanding that it may be that our, our vaccines work or that it may be that this particular strain doesn't make us very sick. right? so what is on the positive side are just just possible. so one thing we learned to cov id is we know nothing live this moment. the present moment that's about all we get as robertson arrows, character told billy crystal's character. you're very good and you've done it again . every time i have you on that some little take away, that makes me feel better afterwards. and this, we don't know, thing is an opportunity to just exhale the hubris of humans who are thinking that

we are bigger than nature is just fruitless. and that's going to be my take away from, from this interview, even with out this virus. the holidays are cheery for many indeed. it can be a blue christmas because the lights are so bright and so many others are giggling. you don't have to be alone to feel lonely. i got about a minute left. nancy, what is it we can say in the mirror to get past the perennial blues that any of us can suffer this time a year? it all comes down, i think, to self compassion that when we look in the mirror, if we're alone, that we offer ourselves something kind, we don't, we have a tendency to shame ourselves of blame ourselves. look at us, we're alone. why are we alone? there's something stop, stop, fall, and an acknowledgement of if i feel lonely, that's hard,

is there one christian may be on our side can call what's the step i can take to be kind to myself. first thing is, don't shame or blame that sadness or whatever blue you're in. and then is there anything that might actually make that play still better? those are the 2 most important components of well being. and, you know, usually there's a little bit of something we can offer are shouts if, if we are feeling sad and if the bright light feels so discordant where we are inside and know that you're not alone, that's really the case for so many people. patience is not just a virtue, it's a gift, nancy, so are you. i am very thankful for how you have been with us during what's been a trying year. always of comfort during the shut down,

happy holidays and we'll talk to you in the new year. beautiful to you too. lovely to see you. thank you, and thank you for watching the big picture. we're going to be back here, same time, next week. and if you're new here, you can get caught up because all our shows are on demand at you tube dot com slash the big picture. our t, our live stream is you tube dot com slash r t america. and my show is just a brick in the video wall. you will find on any connected device, you m at portable dot tv. or when you download the portable tv app, the app store or on google play, to quote you jo, name us, it's free. jimmy j j walker might actually call it dinah. might. i'm holland cook in washington and at holland cook on twitter. where if you follow me, i'll follow you question more. ah,

ah, look forward to talking to you all. that technology should work for people. a robot must obey the orders given by human beings, except where such order that conflict with the 1st law show your identification. we should be very careful about artificial intelligence. and the point obviously is to create trust rather than fear. i would like to take on various job with artificial intelligence, real summoning with a robot must protect its own existence with

this in their interest for some financial pundents to see the value of the currency lose value because they can gain traction on social media saying it's somehow a good thing, but not everybody is an undertaker. not everyone is a grave robber. you know, some people are actually out there trying to be productive and productive lives. and of course, that philosophy of, oh, the currency has gone to 0 less than 0. and that's a good thing is the is the, is the, is the mad alone drugs started as a way to combat a gray problem? what's the warranty? it's part of the attitude of the nation, not just the north dakota. and it got to be something that you could get elected this time in the fight against drugs to go to trial. jake told us that andrew was competent, short form, and this is way too dangerous for him to be doing. clearly they put him in harm's

way, a rural college student doesn't interest get shot in the head and found in a river like that. something else had to be happening with oh, are come to so being co visionaries, me so if he shivered not for ages. we've been trying to trace back the origins of life on earth. how did baron rock turning to something asked, flourishing beautiful and abundant as we know it? well as professor of evolutionary biochemistry at university college london, nick lane mclean. it's really great to have you with us in our program. i do have all the big questions. oh, you can clarify some things for us. right from,

from what i understand energy contained in molecules is pretty much the reason for life on earth. so energy can't be created or destroyed, it can only be transferred, right? so what does this really mean that energy that i consist of? we can trace it back to where a life started. maybe even further big bang. in principle, i suppose you could, but nobody would have a brain big enough to do that is really the flow of energy, which is the important thing. so the way is moving from place to place and through us continuously. so we are eating and breathing all the time and we're changing our molecules of time. so an easy way to think of it is like a stream is flowing down a hill side and the, the.