mindset setting in, well over the past week or 2, we've seen an extraordinary amount of, of what shall we call it propaganda about how great, you know, inflation is supposed to be. we already covered that one from a few weeks ago. a whereby they were saying, you know, inflation is good for the poor. well. 6 let's start with paul pregnant, the, you know, that guy a nobel economist, they call him but he was at, he's out the new york times and this is what he tweeted. aside from priorities, is this even true? i, he was responding to an article saying inflation is bad for the poor. is there any good reason to believe that inflation hits low income households, especially hard, and then he followed it up with the 2nd tweet. inflation redistributes from creditors to debtors. not exactly a burden on the bottom half of the income distribution. so sad because he's telling people that can least afford to go into debt to go into as much death as possible.

it plays into my idea about interest rate apartheid. obviously, paul troy went on his friends to run the new york times. they can borrow money at 0 percent and never have to pay it back. but for everybody else, or borrowing money at 80 percent on the credit card or 2500 percent on a paid loan. and of course when they can pay back the debt collectors, call them, they become impoverished and homeless. and so he's still better than that. the clerk, right. who is the villain of apartheid in south africa during the 1980s? all treatment is the, the clerk of this cycle of inflation. it's, it's, it's, it's shameful, really, but you know, he's a guy who is not an economist. you just paid mouthpiece for the absolute worst financial terrorists in america, but that's his job and he loves he doesn't. he has no shame. well, let's also talk about the fact that everything from the arab spring to the haitian riots and stuff like that, they're caused by inflation and food prices, right?

and that's what causes that, those poor people do not seem happy, but even in the u. s. ok with access to debt by everyone who has the most that pub program. well, the government that you know, you're doing some work for by them they're, they're biting administration and the corporations. there's never been so much corporate debt in stock buyback. the 1st of course, you know, the big, the funniest was viral tweet them all while we were traveling here was from joe biden himself, where he tweeted, the united states pays it's debts when they are due. that's why today i find a bill to fast track the process to raise our debt limit. well, this is what happens when you're like senile man to become president a talk sanjay in words that you would expect. assisted living facility and you would well and back to his room, give him some old meal and stick a tube,

and hope he doesn't fall over the floor. that's it. that's the only thing you can hope from joe biden. the words coming out of his mouth are so freaking stupid. and so cognitive discipline that you know, if he were again in the hospital, they would be talking about bill of end of life solutions, hospice care. that's how stupid and ridiculous this is. well, you know, the fact is that you can't pay off debt with more debt. you're not paying off your debt, you're still defaulting. the u. s. to fall to the 1971, august 1971. we covered that here on kaiser report. the 50th anniversary, just past joe biden, 1st came into power during that time when he 1st entered congress at that time, and 1971 or was that the senate? nevertheless, he's been in power for 50 years. as the u. s. dollar has declined. he knows that rolling over this debt over and over and over until we've hit 0 and now negative real rates. well, that's not actually paying off her debt. and there are many,

many funny means, but we're not going to talk about that at the moment because i want to get into the fact that here paul probably was saying that the bottom 99 percent the bottom 99.5 percent that they benefit somehow from inflation, because inflation, you know inflates away, the debt that you have. well, right now, the stock buybacks another story that max might have been covering quite rationally and quite interesting lane calmly over the past few years. that stock buybacks have been hollowing out their economy, hollowing out industry, hollowing out corporations by swapping the productive assets, and that the assets you know, for stop and swapping them with debt. so this past quarter, the 3rd quarter of 2021. we saw a total of $234000000000.00 in stock buyback running at an annual rate. that's

a trillion dollars. so to put the magnitude of the stock buyback some perspective this annualize is to one trillion dollars plus per year, or would be about 2.5 percent of the market cap of the s and p 500. right? so start by back side, the fact that these companies are losing money that they report increases in earnings, but that do the accounting fraud of stock buyback. that shrinks the plot of the stock and makes it look like, oh, they're making money. if you are strip out the stock buybacks, the average american company would be losing a lot of money and the average price earnings multiple for stocks on the s and p $500.00 would be not only at all time, eyes, but 2 times all time we're talking $4550.00 times earnings, which is to say they're completely trading on air. you know paul truck man just to touch back on that. he would say that inflation is also good for people because

their wages are going up as well. but our trucks faster mentioned that at no point statistically have wages gone up as much or faster than inflation. so once again, paul progress nobel prize winning economist cannot add 2 plus 2 and get 4 for him. 2 plus 2 is not for. the wages are going up, certain percentage inflation is going up at a great percentage. that's a net loss. i mean, this guy is not too smart, right? well, in mat photo that accompanies that tweet, i just read you see hertz and there. and hertz, of course, went bankrupt in 2020 until robin hood de traders rescued it. and they are engaged in a huge stock buyback. now less than a 2 years after they nearly went bankrupt. max, when you worked on wall street, this sort of thing never happened, but also, you know, we just discussed that the president has had, okay, i'm,

i'm here to sign into law that we're raising the debt limit because we always pay our debts. i mean, this is the same sort of thing ever. it's, it's, it's debt roll over all the way down. you know, everywhere you look it's, it's plunder. it's the, it's a private equity model of just swapping debt for a bankrupt entity. and you keep on loading up already bankrupt entity with more and more debt until you just crush the company. and that's where like loads of big, big companies as 5 hundreds of years in america. got crushed by the private equity model where they had a whole bunch of debt loaded up on them and then it all collapsed. right. it should be noted that we also see the us dollar going up at the same time and other currencies around the world falling and entering into high for inflationary collapse. that's by design, the u. s. by supporting bankrupt, companies like hurts and by supporting stock buybacks and crooks like warren

buffett. they are driving the world to global conflict, which is unconscionable, because you know, just because bill gates wants to make a few more $1000000.00, we're going to go to war with the rest of the world. it's so sad, but this is america today. i think you're going to do that song a because, you know, of course everything is copyrighted. that's the only thing that's still a productive asset. you could say, in the united states. but, you know, the other thing, this inflation and inflation propaganda. what happened after it was reported by oliver darcy, who i guess he works at cnn, or knows people who works at cnn. and what we're saying is that sienna and executives and reporters were meeting with the white house meeting with jan packee . and they all decided that we need to have like, better news, economic news. it needs to be presented like a cherry cheerful, happy like view on the economy. and then you sure enough you did see

a whole bunch of like, hey, everything is great. because a saki says that it's the that when she was questions in a press conference about, you know, the ratings numbers for bite and collapsing. she said, well people have the wrong perception about inflation. like they're not reading enough paul pregnant, of course, because paul pregnant is also, thankfully behind a paywall so nobody can read that stuff. thank god. but, you know, in terms of this, the inflation and inflation propaganda here is don lemon of cnn praises biden administrations work on gas prices. so just like that famous north korean sort of presenter who's like the lady, darryl leader, has shown the world that we are the best we are the most powerful we have the weapons to destroy. 7 the world, well that's with, that's what he's suggesting here at the santa estate funded state control media and

youtube before honest there would say that under every of their you tube videos, state sponsored state funded state control media, sienna and b. c. a, b, c, bloomberg. they're all state funded, state control, and it's a shame that society assigned to go on air. and it basically cloak herself in a veil of shame, pushing this propaganda. so shamelessly, i would say that it is not is 0 percent state funded. what it is, is 100 percent fee up funded. it is 100 percent. all of our funded it is 100 percent corporate funded and the corporate people who are that can tell you errors who benefit from the money printing. they want you to have this sort of money printing policy continue. they want you to support it. these people are not acting

as a government by for the people. this is not what they're pushing. they're not pushing that. they're pushing the interest of military industrial, complex of intelligence and surveillance, industrial complex of, of the big tech complexes they're pushing the interest of those people. it is, in fact, corporate funded in the way that they're not being quite honest about the benefits to the elite of money printing, the money printing benefits the elite. this is the name of the program, which i said is inflation in inflation propaganda. so when you're propagandizing, who you propagandizing in on behalf of max and i on here on the kaiser report cover, the can tell you our class, the can tell you errors are the ones benefit. and the can tell you an errors want a money printing system to continue because they do better than everybody else. and that's what we're seeing. i don't know what you want to call. you can call it state funded. you can call it corporate funded. you can call it whatever you want, but i believe it's can tell you are funded. right, right,

exactly. if it were government funded, that's not necessarily a good thing or a bad thing. but if you say it's corporate funded, that is 100 percent. a bad thing because that's call fascism and fascism. i think we fought a war over. i don't remember because it was a race from google and it's not accessible anymore. and we're going to take a break. and when we come back, much more coming here away. ah ah scientific knowledge has never been so readily available to every one across the globe, but overwhelmed by information. can we distinguish the real signs from the one being imposed upon us? we're living in a world where there are many people who have a vested interest in fighting information, fighting scientific evidence, and discrediting even the notion that science could provide the truth about the

natural world in the pursuit of business goals. large corporations are challenged strongly by scientific evidence if you're emotionally invested and free markets, them climate change is a serious emotional threat because dealing with it means we have to change our approach to business industries or on the war bar, attempting to debunk legitimate science by producing new evidence in science writing science. that's how ignorant says manufacture their attention only seeking to the rail science rolling using sy, give the cell join me every thursday on the alex simon, sure. but obviously the yes in the world politics sport, business. i'm sure business. i'll see you then mm.

with ah, welcome back to the kaiser report. i'm max kaiser time now to go to john or beano of dollar collapse dot com. john, welcome back. a man, it's going to be back. all right, i'm going to mention 6 things to you. tell me where we are in the cycle. here are the 6 things. inflation, stagflation, this inflation day, flash and shrink, play sion and hyperinflation. where are we in that cycle? john? we've got several of those going at the same time, but i guess i would have to say just inflation right now. although stag place and translation are in there somewhere. but, you know, it's, it's important to note that we've been an inflationary economy for

a lot of years now. it's just a few. inflation has been narrowly focused and stocks, ones in real estate. those things have been going up wireless and it so those things were seen as good from the point of view of most people in from the government because they don't count that as regular inflation. so nobody thought that the dollar was losing value when actually it was plunging again, star points in real estate. well now the really, inflation is starting to become more broad based. and regular people are starting to notice that the cost of living is going up and that's what big changes right now . all of sudden it's real for more people. and, and for instance, just to give you some examples of the last year or 2, you know, used car prices are up 40 percent last couple of years. corners up 26 percent this year. coal is up 61 percent. and what was the natural gas, i think is a 3rd,

which kind of raises the question, how do we only have 6 percent inflation? if so many things are up in the mid to high double digits. and i think we'll sort out eventually, but it could be that inflation is actually quite a bit higher even than what we think. even though what we think it is, is kind of at a crisis level right now. you know, that said wouldn't normally raise interest rates at 3 percent inflation because their target is normally 2 percent now or 6 percent. and it's still not clear what's going to happen. so this is, you know, this is a big, both real and psychological change in the market that i think makes 2022 a really interesting year. yeah, let's talk about deflection for a 2nd, because up until maybe 6 months ago, the central banks are talking about they need to fight deflation, and they need to keep interest rates low. and then they're not sure if they're going to hit that 2 percent inflation target, but against the backdrop of

a very simple fact tables, purchasing power for their fear. money has gone down for 50 years. and so another way to measure inflation is in purchasing power, and at no time as purchasing power are gone up and 50 years at no time in the last 50 years. are people reporting on the fact that, oh gosh, the dollars in my wallet are buying. so much more at the grocery store, that's never happened. how did they get away with calling inflation, which is what we've had for 50 years and one way or another. how do they get away with calling it inflation? it's not just an outright lie. well, you know, they've gotten away with it for a couple of reasons. one is because, like i said, the, the real price increases ordinarily focused and things people don't normally pickups inflation and, you know, bread and milk and used cars. they didn't go up. so one or 2 percent increase in something that people don't notice and that's what we had in a lot of the basics for a long time. but we were in an inflationary period. you know, like you said, the dollars last purchasing power for 50 years. and it's lost

a dramatic amount of percent power versus financial assets. so now that is spreading out into other things that's, that's a whole different thing. but, you know, it should be said that all the debt that we've taken on is profoundly deep sleep center. in other words, when we accumulated so much bad paper that the system really wants to chip over into a 930 style depression, which is what the fed is leaning against by creating all this new money. you know, the, the m to money supplies up 30 percent last year. and if i'm understanding the chart the fed puts out about and one which is a narrowly focused on a supplier gauge. it's gone from 4 trillion $1.00 to $20.00 trillion dollars in one year. so that's a sign that those guys behind the scenes are panicking. you know, they know we will chip over into a deflationary depression unless they inflate their way out. but the numbers that are required to do that to you know, to hold off on that tape and look up,

those numbers are so immense that you get all kinds of inflationary effects, which you get just right. you know, they didn't get it or just right. they over credit in the last year and, and that's why we've got to excel reading inflation right now. so this is kind of the beginning of the end game in the story that's been told by the sound money community in the gold bugs for such a long time. you know, eventually there would be a movement of bust in which the bust was so outrageously huge. that the government would have to bail out everybody insights, and the effects of them bailing out everybody in sight would be profoundly deflationary earning destabilized and inflationary. and that's kind of what we got now. so, you know, the fed is in a box right now and they know if they, if they allow the current inflation rate to continue, then people will kind of finally clue in to the fact that we're an inflationary environment. they'll start acting accordingly. don't panic by everything inside

everything that we're going to have to buy in the next 2 years, they buy right now, which pushes up the prices even further, which causes more panic by et cetera. and to get a kind of a currency that spiral, they call that the crack of food in the austrian school of economics. but they don't do it if they try to lean against this inflation and raise interest rates back to normal levels. it blows up to financial system and that's kind of the only 2 choices. so they're, you know, the sweater and now because they, i think they understand that those are their choices and they have to pick one. and that's why they seem like or did or because the fed honestly doesn't know which one to choose. because the effects of making a mistake on the 2nd, the way are horrendous. and you know, they don't want to be the herbert hoover of the next generation. they don't want to be to weimer germany of the next generation, but those are kind of their only 2 swenson. so if they weren't such idiots you could sympathize with no, wait, wait a 2nd or so you're saying, oh,

the debt is quite high. and the dad's getting bigger, but the word debt. there's a pretty standard in irrefutable definition of debt. it's a paper piece of paper that has a maturity at maturity. if you don't pay the debt a default on that debt. now the u. s. as unpaid step in 50 years, john, why we even call a debt? debt? has the u. s. engages in their debt, financing of their economy is money printing, it's not debt. what it's, let's, let's just erase that this part of the problem that we have here is that people are, if you keep on calling it that, it's not that it's just money printing. if it was debt, then there would have been a default, right? by didn't just raise the quote, debt ceiling. there is no debt sailing. john is perpetual money printing. that's why i ran. that's why there's inflation. that's never been deflation. i mean, i,

again, i get to my, to my question here you have government officials staring into the camera and lying directly to people in a treasonous banner. john, well, i will accept your definition of what they're doing as treason that's, that's, that's very reasonable. and they should be done with as somebody who's committed treason. and we are full in full on m m t. like you said we're, we're doing monitor or modern monetary theory right now. it's not telling anybody about it where we basically finance the world's major governments by having the central banks just print money and just toss it out, even the banking system. but in the process, we con the, the private sectors of most of the developed world. and the big part of the developing world into borrowing is huge amount of money that is debt. and that has to be paid back to china as an example. they've run the, you know, the mother of all 5 actual bubbles over there and in the process that convinced the

private sector to go all in on real estate. about 70 percent of chinese household assets are now connected to real estate in one way or another. and the real estate sector is imploding. that is hugely deflation are. but you're right that more than likely, what happens, it is that the government steps in buys, are, you know, the true enough to one, to bailout this gigantic, real estate sector and in the process bail out all the private sector. individuals who have invested in the real estate sector. so that's how you get the hyperinflation to blows up the currency, the world. and, you know, i think that's still the most likely outcome. i'm saying that if they don't intervene in a massive way, you get a 930 style dec driven depression because the private sector blows up. i don, i don't like we're not going to have a dead 1930, that deflationary depression because there were no longer on the gold

standard. there's no anchoring of the economy to anything physical or anything that that is real is completely phantasmagoria call. and they've committed themselves to print money and to death. so literally the chairman powers like a goldfish. you feel till 8 am south to death. they will death themselves to death . again, its tyranny. and as far as china goes, america is wilfully stepping into a war with china by putting china into untenable position and these debts and these obligations are completely failing. and this always leads to world war always leads to war john. so that's another quiver in the case against this current administration for tyranny that only they printing the money to death, but they're wilfully bringing us into world war because they're a stupid b corrupt and see greedy. that's where we got. there's a remedy. you know, for this and or the will every day we wait and to exercise our remedy. and we, if the shame on us john shame on us, it's not the policy makers,

they're the ones getting rich off the stealing of all this money. it's a shame on us, john, for us, for not exercising our constitutional remedy. in this case, john. yes, i mean, you just said they're much longer. we ways to rebel against the current system. in other words, the system where there's an aristocracy siphoning off more and more money from the 99 percent. the worse the actual consequences will be. and then, you know, people are starting barely to clue into this, but i think we're a long way from people completely figuring out what's happening because then them, it got in a way of a lot of this wish i don't aggressive subject for a whole show, right. there, but suffice it to say that it gave the aristocracy another couple of years in which to steal from everybody else. now, you know, the question becomes, how long can this go on? how long can the financial system survive?

where money supply broke double digit rates in the private sector, dec, soaring and stocks reaching valuation levels that are absolutely unsupportable in anything other than a wildly environment. i have learned not to make your had predictions, but it does feel in 2022 is going to be a year when a lot of this stuff comes to a half, you know what a lot of people figure it out and start acting accordingly. so we've got some very interest in times ahead of us. another question becomes, you know, as individuals, how do we protect ourselves? so then we're into the investment pieces aren't as well don't investment. there are some parts for now. thanks for buying our cars report. faxed. okay. and that's going to be for this additional the kaiser car was may max guys are stacy or i think i guess john robina until next time bio. ah. a

happy hain. benuya said i hadn't been with me. not allowed to fix it though you'd outside it on mac, on him, and by then coffee for sure. and i believe by then is a shift them on a fiscal none what i thought much thought it was. if he had to move, move the ginger mechanic to so that that keeps a few health a yeah. what kind of a button? i were awesome. how the, who it man a

loudly hold on a hey, do a, a a a what i can i maybe maybe i'm maybe with a the

ah, working for sure. she popped in. she said, well, i'm getting ready to go shopping for christmas and i wish there was a good bye to another shooting another safe part of american life. shattered by violence. the gunman was armed with an hour 15, semi automatic rifle. when the issue comes home, it's time to act. when we're filing on this issue, the other side wins. by default, the lady that lived over there. i was walking one of the jobs, which is why do you where again, where are you still with nothing. i take it off it, i think the people need to take responsibility into their own hands and be prepared if those kinds of weapons were less available. we wouldn't have

a lot of the shootings. we certainly wouldn't have the number address with breaking news for you. this how i live on asi international. i'll stick to a channel in germany, r t. d has been blocked by youtube. it comes on the very day. it launched its cost broadcast and the country heavily on men surround libya and government offices in tripoli, with militia threatening to scuffle at the upcoming presidential election. the 1st such vote and the rapid african country in 7 years. and you study finds that divisions and u. s. society could be reached.