a house germany facing recession and one in 5. not having enough to eat tonight. some think your prospect so no good joining me is warmer. i'm f economist, dr. david with david, thanks so much for going on because i said all that and the european leaders who are being media would be quick to say hang on a minute, the russian energy is all being replaced. no problem. the your rowe, as you yourself is said people can watch your video on your youtube channel. the order is up to cover all the losses and ok you are being lead is a very unpopular at home to ever be on both beulah but having a good war. you you back to different, but yeah, i definitely think so. i think the short term does no question. i think, you know, europe, at least over the last 6 months, has benefited from basic collapse and energy prices. and um, however, what we need to recognize is the fact that while the absolute level vantage reprise of come down for europe, the price has actually gone up. okay, that is to say that's

a big europe is having to business problem further and further away to secure energy instead of buying basically the natural gas from restaurants. okay. they don't have to be to get a guitar the us. well jerry, yeah. okay. you know, it's, i'm getting portal directly from rochelle through the pipeline. did not have to get up here. i think got, i'm very far away. places is that i'm getting there. cool. and restaurants, they navigate it from south africa in australia and transportation is very expensive. and the whole, it just is very expensive. as a result, if you look at natural gas price, for example, today, natural gas price that german companies are paying are literally basically $4.00 times higher than what their us counterparts are paying. i mean the content that was not very competitive to begin with. now they just being doing this as a competitive basically uh and this is a wide, no wonder german companies. one often not dark, are basically like, you know, picking up and relocating their manufacturing to the us to china anywhere they can

access cheaper energy. because what people need to realize is that there is no in europe without germany. and the german economy is a manufactory economy and manufacturing economy by definition means it's basically energy intensive industry, especially when you look at basically german chemical industries. was one of the main industries in germany. yeah, the biggest chemical company in the world as when it comes to the small g, okay, per year and then the whole entire nation of denmark. okay, so from that point, i mean there is no now germany is already struggling with the fact that there be high in the production of the. so remember 25 percent germany economy is basically making cars. ok. and then in the industry to begin with, they have falling behind us in china and development of electric vehicles. on top of that, the electric nichols basically requires 25 percent less labor to make

a car then that's just a a combustible engine in the car. so germany's already being hit every possible size . and now this war, i don't, i would argue a fatal blow to the german economy. i almost feel like germany's freak walked into this because of the green party has decided that you know what we want. it basically get it fargo way to force drama, need to, in general, just stop consuming energy altogether. but of course, what's gonna happen is the oldest pollution is not going to happen in china, not wanting the you was, you know, the hope you really believe the global climate hypothesis, the whole kind of still going down, you know, where do without germany. and guess what germany mean was lot losing jobs left in. right. so this to me, it just absolutely 80 adi there is, i mean germany says the old that they are walking into this and committing a total weight of nomic suicide. it's unbelievable to which of course, uh, and to the blinking the form of west exact pentagon contract, it would say to you, what are you talking about? we'll look after your,

we'll open all the natural gas terminals for all the last a gas and we'll sell them at your, of the it will replace that russian gas with natural gas to, to your from fractured oil. sorry, frank, natural gas in the united states. what are you to here with? this is russian by guns are in fact what you think is a sub, but it's just more expensive. they're not facing. if i just think about this also boiler price mike right now is like, you know, what, you know, you're from the us and japan or say we're going to basically pay $100.00 more. then everybody else to import energy because, you know, because i mean, right now the china, india and all the other countries of important oil in china. basic, it's a $20.00 and $20.00 discount. and by the way, the warranty, basically this, whatever, for a function against the watching the energy, everybody will be consuming low energy price, or possibly the thing is a trying, it'll be paying more for the europeans and whatever the japanese will be paying less for sure. but the point here is that you want to know is the americans,

what do you, what do your peace don't get it? is it americans are not interested in the welfare of europe? and i'm not the bills that you're owes as to the us. i'm not, bill is like, you know what we said you twice. okay. one world war 2. we said you find the cross use of the soviet union. we have been underwriting your security for the last 50 years and hard. you paid us back. and this is how the americans thought about when basically merkel wanted to build basically north spring. so they saw that, wow, how did everything we've done for you? you're going to basically joint forces with russia. ok. this is the reason why the, how to drive. but why? that's why this war to a great extent, it's about basically driving a wedge by the u. s. between europe and basically russia because a new was already would continue with china as a competitor. us clearly did not one germany have parts or the getting the bed

together and also give the us a, basically a rug worth of money because of what the us has is very, very low cost energy, abundance of energy in germany were to actually form a partnership with national, insecure russian energy, then there's no doubt that us would have lost competitiveness. and for the us there was no way that he wasn't, was going to take this line down. now, after all these basically over allies is given for the protection of europe. so from that point of view, i mean, it's completely understandable to me. why didn't you, why is that what it did? why is it doesn't make any sense to me is what the, your opinions are following for this 10. they not the same things a bit more clearly. i have what's higher hopes for spacing all of charleston. he's actually demonstrated any common sense, but i'll get to know what the stream will particularly in a, in a 2nd, but clearly the by ministration. the state department, daily press briefings run completely country to what you're saying. they say your up is part. now your up is, are, you know, you look at the install debugging nato,

this is one big, happy family. it's not competitive. a tool. and do you kind of imply it in your on so there a well, i mean, why would leaders in europe be amazing economic suicide like are you saying schultz macro sanchez, maloney cost them? it's a heck is very good. the crew and a 100 by the these lead is in your over it. it's, you know, 1st of all, i used to think what this is because good thing, right? you know, you part of the european union. but right. the sessions are being made basically in a committee finish a leave through your dynamic game. but i think more currently, i think is the fact that you're things. in the last 50 years, the all european project was meant design to basically eradicate nationalism in patriotism. and what is nationalism nationalism is doing? what is it good for your people? and the europeans? i mean, brands, this whole idea is that, you know what, you know,

we want to basically do what's good for the common good, as opposed to ourselves. and then there's also the pining away, very sorry david i got i just needed to be there just quickly say in fan this britain from where i think we are a who was born and very and on this to and they left the european you're exactly right but remember, listen, i had high hopes i'd be high, so i was to not was going to step away from this. but i think it's almost as she inherited a policy that was laid down by twice and trust was the biggest part of the. all right, i mean for us to was the one that one a tier of things with china. proximal ones on was going to basically pick up all the way to basically russia. right. was a complete disaster with no, no, even in breaking people. know i'm by the way, also a producer to so i lived there for 10 years. my heart goes out to the brakes and there is no doubt. i don't know if it's been wallace was no doubt, but i do not. i somehow don't think that if he has been on his own,

if he has been there is i'm going to be very different. it was bars johnson. and i think again, worst johnson, i think the guy turned out to be a complete disappointment. i can't believe i voted for him. i actually supported briggs and there's also for, i think he, his father has been on the show. his father's being on the show quite a few times. you know, it kills me because you're going to think about this right raises. what is rigs that really make? the reason why i was for breaks it was because i thought briefing by leaving the european union in charges on quartz english. i mean, the 1st of all i vision is most successful civilization on a plan, right? in the, everybody speaking english things, it's called to everybody and shakespeare and non basic tolstoy these days. but the point here is this, right? well, ready to fall? we practice from the exit from britain from basically you have to make friends with the whole entire world. no, just think about this, the army is a 3 years after griggs in the u. s. u. k, supposedly best outlet has not even so hard given that you can arrange for

a agreement. so be okay, and you're leaving europe and you haven't even got a winter agreement, and supposedly your best friend, your shouldn't be pleasing playing the role of the mediator. because of great british people, they far more role. they have a global perspective, bbc, you know, so on, so forth. they should have basically taking advantage of, of crisis and become the piece broker. and the fact that the time being this way, i think is a total. it's a get it to me is completely against any kind of way as a bold decide magic policy for the good of british people. again, i'm only because i'm not rooting for russia are where you claim, where you, west europe. i'm voting for the little guys. what i see the main guys in britain in the us and ukraine interruption are getting scroll big for a bunch of incumbent and policy makers personally, groups that have not tried to stop the american madness to basic breakdown rush, i will cost. okay. buddy in fan is through the united states. you do say they are

acting in the self interested way. see much as being on the show. people can watch our exclusive global, exclusive with them about north stream. you. you believe that it was a if it is the usa, the c, i a, a self interested acts. i mean, if we put the environmental concerns to one side, because it would have been, it was the not just to me saying emission event in history man man made. and joe biden says he's environmental. he's interested is the environment. but this was it . this is a brilliant strategy by the united states, if it was in terms of the economics or it is we, we know this started with kennedy really actually got the needle back the make a 2nd being free to basically talk the sanction against germany. exporting part of gas pipes to us over unit. and then we know what the ranking went on with obama,

who was basically get us, you know, basically, i mean, someone who was bush, who is against basic construction of more stream one and a bomb. it was, it gets to sort of thing, toe and inviting bass. and of course the said that, you know, i think, i think we know what might in that i've no doubt that you know, because again, you know, i, i don't know who did it. we didn't already know is that the water for a crime to be committed? it has to be a motive, the only kind of thing and part of the mode into destroying the last thing is, of course the us because it is the best way to base him, destroy any chance that you are a isn't a negotiate with russia. because the u. s. a was trying to destroy the one piece of leverage the russian might have on europe. that might cause the european to think more offensively about what they're going to do. the u. s. just took that away, destroyed. so there was no turning back to the europeans, dr. david, who i'll stop you the more from the fall, but will 3 strategist to diagnose the economist, dr. this price, the

acceptance. and i'm here to plan with you. whatever you do. do not watch my new show. seriously. why watch something that's so different. whitelisted opinions that he won't get anywhere else. welcome to please or do you have the state department c i a weapons makers, multi 1000000000 dollar corporations. choose your fax for you. go ahead. change and whatever you do, don't want my shell stay main street because i'm probably going to make you uncomfortable. my show is called direction, but again, you probably don't want to watch it because it might just change the way you the welcome back to going on the guy that i'm still here with dr. david lou for mobile 3 strategist and i'm going to miss david you were talking in pod,

one about the united states is, must apply. i'm here and it's mazda strokes as to how long your can continue to committee economic suicide. now give me, do you think it will be up to civil unrest? i mean, we saw some civil unrest across the whole of france and switzerland. we've seen some room this week holland otherwise uh we haven't really seen anything by the people of yorba, bob, from expressing distasteful. their lead is positions on the following living standards because of the war and your what, what is going to make them change higher interest rates that, you know is interesting because people say, oh wow, why, you know, you know, because i mean, seriously a year ago it was a pretty big thing that by now you're to be in a basically deep recession. it hasn't gone into that recession. you know why? because europe has been amazing cisco stimulus for the whole system. and that's the simulators. okay, we're talking about subsidizing energy, subsidize,

and consumption. all that kind of stuff. that no doubt was the reason why any economy actually on the us economy 2022. but in this day we lived in 10 years to 2023. so from the point of view, i would argue so far the europeans, however, we felt the pain. okay, well i think what we're talking about right now, what i'm talking about right now is long term paint that has yet to come. by the way, what you're going to see is a whole sale basically like literally people being let's go laid off in germany where people are going to basically, you know, certainly go into protest demonstrations and so forth. but what i'm saying this is that this is why i think next year is interesting. but meanwhile, i think the interesting thing, what i don't understand is this, you know, you say, well democracy written note is very clear. you found in german opinion impulse your opinion, think a clear ok division between people want to come to support ukraine. the people

don't want it continues to support you crank? well, the thing that germany is competing total suicide. what is actually been going on right now? i kind of feel like they are basically citing, you know what the next election is not going to be for another 2 more years. yeah, you know, we're gonna have it between now and 2 years time. who knows by the end brush or might have been defeated and so on. so for the result, both my claim in shots are behaving as the public opinion doesn't matter. they are behaving as though the only thing that just hunky dory. they are basically doubling down their basement housing. they're sending weapons or whatever. i mean, the differential starting to send basically christmas with directv. christ is almost as though they feel like, okay, fine. i lost the 1st man. okay. the only shows now is that i'm gonna double don't know, i guess what am i call you to run for a 3rd term. so carrots, as far as he's concerned. that's the problem. this is why i actually think what this entire solved are showing us is the weakness of our democratic systems. this

is to say the russia in china have better political systems, okay, in terms of decision making. but there is no doubt that democracy is failing the europeans in a very big way. i can, i should say, rush or, and china rush. you're trying to say they are democratic. of course, in different ways. russians elections have been independently jacked. but actually, it's your fault in a way, david, because you are at the i m f between 96 of 2000 and the only leave of these european governments have under the regulated markets, is interest rates to cub and issues. if you also hoped for the way the economies are now set up with their, uh, e, a. and so you are being central bank, the bank of england. they don't have any of the methods of being able to look at the economy in a different way as regards strategic investment. and i, i'm still high interest rates. and the only reason why i'm for high interest rates is that i think it will be you know, a tragedy it,

we see basically what happened and 19 seventies. making a major come back, especially in the country like the okay. which i really care for by the way. okay. you are now remembering like it was boucher and though literally the he bought the crack down the whole entire thing to bring down in placing an expectation. so from that point of view, like you're arguing there was one thing, the western economy is accomplished in the last 30 years. also things to basically globalization. the integration of china in the global economy, which helped drive down. i should, you know, what they really successfully managed to do was bring down basically inflation, which allowed them to bring down interest rates. now, you know, you can, with even pushing with those with these levels in your core, inflation is still basically very high above 5 percent. basic in ways in level remains. let's just say for example, we now have a major russian offensive in the next month, which is my prediction. okay,

i think your price is going to go sky high. i think that basically we can see literally natural gas price come right back up. ok. in europe this facing the winter, and we see a repeats in the next, whatever a spring. so 6 months like what we saw like last year, i'm telling you the inflation genie will be impossible to put back in the bottle. then you're going to be talking about speculation. second question is even worse than recession, by the way, uh, a good thing is in the research and you can bring down the interest rates in the 2nd place and you can even bring that interest price because then inflation is going to go up even more. okay, we saw that we saw the for the worst debt thing is from britain since 1961 is a proportion of a g d p. we see germany in recession. i don't care for me. given the brick summit is coming up, how carefully the global side countries have to have to be when it comes to divesting themselves of debt, european debt, and, and america debt. then given that your board training are kind of good to ask for

free in nato countries, economies because obviously they can't just sell it now because the seller will about china is being selling a gradually, by 800000000000 now. um yeah. okay, definitely. did. i have to do that. first of all, i, i not that much, not that fast, by the way, an economy would possibly yet, i'm not, don't worry about the us dollar yet. because 1st of all, the us is the big winner out of this. right? i mean, the us is, you know, basically using your to basically, um, to basically uh, stop rock shot then we would try. right. because i mean, i mean, i mean china was basically, is bill drummond, he's largest export market out of you and not the us by the way. and what time, even though there are kind of war with each other are allowed to be right. is ok. but the point is it was, you was, is still looking pretty know, but when we had an understanding about the global south is 1st of all the global

stuff as a group. we're talking about know china, brazil, russia, india, and basically the rest of them. they have one on the hall. ringback an aggregate, chrysler plus, in other words, and they are not sorry, not to say, verse, which means that they have to invest their money, something else outside the block. right now honestly, in your, in view, this is man, okay? you just basically saw some stuff to basically rush or are you happy to sit on the roster and roll? well, what do you ever chinese business men be interested in? basically sitting on the indian routine? probably not. i can guarantee you. probably not. one thing is to basically make payments using a break crime scene. another thing is to fit your hard earned savings and investment is great basically assets. there's a reason why the dollar is, is where it is right now. the us stock market has been the best performing stock

market in the world in the last 10 years. okay. this is, there is no other mortgage that even comes close to charging stock market is the one of the worst. 20 years actually is the size of our chinese, the company's been growing. the china stock market has been terrible, terrible because trying these companies and not very profitable. and because the country is still based on that. so you will, they could be the different system as to how investment is made as, as, apart from the printing of money, which has happened in the united states since the west. and he cannot make prices. i mean, you make the point in your video about the, the dollar, but that good sanctions change all of that. i mean, given that to usa, you know, the, the new york song states has done very well. but the point was, the dollar is fungible. you can sell it, you can buy it everywhere. it's a don't sanctions change that for the 1st time, people around the world suddenly realize it's not safe to have dollars storage. because your country, whether it be in latin america, central america, or africa, or as as east asia. if, if you politically take the wrong pauses of the state,

department sees it, you, you can be sanctioned, you can lose the money. you can have 3rd party sanctions. it's not a great currency after all. sure, this is why you know, what are the dollar the questions where you get the best partner current. so you can do the job and nice and the europeans are in the article host of the us. so it's like in your mind i'm going to get some of those people to you was going to come get it by europe in japan as well. so when you look, the width is investing each other and there are lots of problems with that. as we said before, right, well one thing you have to set lower returns know, however that says, i do think there is one else that will do every. so i'll perform everything go. that has to be goal. right? yeah, there's only goal and it's going to be says, no go. but this is why i moved out like the reason why gold presence held up very high despite this all up in bonds. because normally when interest rates go up, you know, go present, go down because gold doesn't pay interest. so that's what interest rates go, go, price goes down. you know,

in the last year it's pretty remarkable. the interest rate been going up, the goal is still very, very far. okay. i get the i can always hear the car and see trade is right now complaining that you're, you're forgetting another another way out of all of that. but um, but why, why do you think it is then that there is a group think i'm in think tanks amongst you, analysts in the media and the monks lead is that alone? politicians then in nature of countries that think the everything is going to be is good. it's going to go the way they wanted to be to go and the to the dollars still there and sanctions are useful weapon. i mean, why did everyone thinks and sanctions we're going to work against russia? i just want to say this, you know, like what you get down to the brass tax. why the dollars so strong? despite all the problems that us faces is because, you know, apple is

a us company. facebook is us company. google is a facebook, there's a come, it's a us company and microsoft, i don't tell you today these the so called basic the magnificent 7. know what the 45 percent of market capitalization has to be $500.00 these companies and not for lease their global monopolies. the wi fi, the way the u. s. foreign policy is being conducted to allow these companies continue to basically maintain their monopolies. what is really going on is that the whole entire world, especially in europe and the allies, are paying this honey tax to the us. every year in the form of basically what revenue to these basically us tech monopolies. that'd be kind of also meanwhile, the biggest donors to the democratic party that basically use everything they got to help basically dumb across, secure to 2020 election. and then the return, but that is why the dollar is so start. i think the most important things happened the last 3 months. the market is affecting your cleaning and government debts,

the son of a 50 percent. i'm talking about price appreciation. you have the 55 ukrainian government bond maturing of 2040. why? that baby is gone of 15 percent. that thing has output, but everything including all the big pack monopolies. and the reason is because yeah, more people are thinking while ukraine is going to kick them off to the buying said the ukraine, the what is already lost the war. yeah, i've got, by the way, investors may be thinking that, you know, may be, you know, as you as get the rug deeper and deeper into ukraine. you craze. problem becomes america's problem. maybe the us tax, but it's going to be on the hook for you crate government debt and liabilities and everything else. i urge anything to the next few weeks. you will see that ukrainian basically counter offensive run this course. i think the russians what has really impressed me again, this is not about me being pro actual preview crazy. just as an objective observer,

looking at the basically battlefield, the russians are constantly learning from their mistakes. if you look at the development of you, what is the length of the drums, the cases need to basically helicopters. you're talking about basically the so 34, i mean you're talking about the night vision goggles, the rushing, basically, new technology has been a little totally like going from a revolution every 3 months. the rush was, i'm no finding with weapons of the who have 18 months ago because they didn't exist 18 months ago. and not to me is the most impressive thing. this is the reason why, why it's the west has to walk around the same circle. roger is getting better and better, and this more is going to be won by technology in the end. because i know the ukrainians are good fighters, they are fearless, the patriotic, they're just going on the suicide mission. but eating, and i think technology is going to win, and russia is going to base the cost of it. russia hashes present ukraine, that will be the end of the american has your money as we now talk to you. they have it. well, thank you or thank you. that's it for the show. more economics and the impact of

the war in europe on monday was renowned professor michael hudson to discuss his new book on debt, the collapse of antiquity. but until then, keep in touch my role. i social media, if it's nonsense and then you'll country and had to a channel going underground tv on rumble, dot com to watch new and old episodes of going underground see monday, the the known in vietnam, american war the vietnam war last, it's almost 2 decades and dragged in numerous countries. not any terms we have now, and then you can just say now, why did all i'm empty? hundreds of thousands of american troops was sent to the country to back the south vietnamese on me. i thought

about that not, but the american soldiers murdered, resist as most of us like the down entire villages and spread dangerous chemicals and even lee by all right, did the americans ever fully acknowledge what they did on the vietnamese veterans ready to forgive? yeah, yeah, yeah, that's a ways to go. yeah. so what we've got to do is identify the threats that we have. it's crazy from foundation. let it be an arms race is on all sides. very dramatic. only personally, i'm going to resist. i don't see how that strategy will be successful. very kate think it was time time to sit down and talk

the police, but only billed you. does that you should not stay at home is i'm not doing the struggle for myself. i'm doing it for my nation, for you, for the future. if your children, if you don't rise up for your rights, you will leave the live of slaves and rank on appeals to his support. his offer a pakistani, tall quote, sentences, the country is full and a prime minister for 3 years in prison on corruption charges and on some fee in asia. as the echo was defense chief agree on the military action without repeating that invasion plan. as people in the west african country protests against the regional blogs functions. and it's a fair and i'd like an immediate.