paul worden asks what if this book was capitalism in america around american capitalism? is there an americanbearing for capitalism which is unique ? i wonder if you could reflect on how you decided to frame the hectic history of capitalism . >> so i think that the kind of as far as just utilization goes, the two big problems that i saw myself as facing which is kind of a framework, i think to some degree helps address it in a way that's satisfactory historically. the first is where to begin. and i think that given this is a synthesis that's relying upon sedentary literature, the work on the early modern period is just as just been so strong, then the work on the british empire, the work on commeral society, the work on antic world, certainly the significance of slavery in these processes as well and also work on indigenous history. and so how to kind of capture that so the first state i think is maybe the most odd compared to what you see elsewhere and is very long and it goes from the kind of reassertion of english imperial control towards america and again the civil wa

but this reimagining of the history of capitalism around the capital process is just the beginning of john's analysis picky also reconsiders the psychic attitudes that drive valuation. not just the profit motives but an amalgam of shifting motivations shaped to keep the valuation. imperial ambition, another white man's problem public, that site to make one smart in the heavy industries. the working man's democracy, and so on. beneath all of these visions churn the animal spirits, make sure confidence in fear about what you two will bring. john also introduces us to the mechanisms driving economic development in each of american capitalism. there are many multipliers of market expansion and productivity growth in the age of commerce. the investment multipliers of sustained fixed investment of the age of capital. keynesian multipliers of the age of control, and finally the neurotic fixation on asset price appreciation in the age of chaos. overarching all these new concepts, jon finds the role of liquidity and mixed impulses towards illiquid investments are what promotes or what hinder g

but the imagining of capitalism around the capital process is just the beginning of the analysis. he also reconsiders the drive valuation not just a profit motive but in an amalgam of shifting motivations for the evaluation. imperial ambition, the white man's property owning republic, the desire to make one's mark in the industries, the working man's democracy, utopias and so on. beneath all of these visions is a mixture of confidence and fear on what the future will bring. john also introduces us for the mechanisms driving economic development. the multipliers of the market expansion and productivity growth the investment multipliers have sustained fixed investment in the age of capital. the multipliers control the macro economy and at the age of control and finally asset price appreciation in the age of chaos. in these new concepts john finds that the law of liquidity and mixed impulses towards the air liquid investment arm want to hinder genuine economic development. and economic bliss. in mentioning these things i have of course barely scratched the surface of the book that ru

it becomes an essential component. >> it's interesting i think that the word capital and capitalism makest sound like you are capitalizing on something that makes it sound bad instead of good. talk more about the freedom of choice and power to the people, your freedom, your choice, your work, your choice, transparency those are the main tenants of it and how you can bring that to certain governments and entities and ideas and problems and one of the things i didn't talk about in the book because they wanted to try to stay focused, i had in the previous draft talked about something like social security and how you can bring free-market tenants to social security because obviously if you agree we should have a safety net but let's empower people instead of paying my money to the government, sticking in and i owe you, which by the way is just like other people they don't put anything in the government, what if when we put they put in their behalf we have that money. even if it was mandated by government, they were not in control of the money, we were in control instead of the government i ow

you have a glorious capital. the capital city as they stated in the constitution something david has written about, a 10-mile square. this is 100 miles everybody, this would put paris and london to shame for this is quite an ambitious undertaking the government will not endure. if we imbue the government with the judas me, strength that could endure. you basically have two visions for the capital. one is led by jefferson and southerners in kind of a slaveowning vision. jefferson's federal town as youhe call just a few acres, single story brick building separated by fields and woods aand forests.ty think of the architectural politics or the politics of architecture at the federal government is a couple small brick buildings than the states are supreme. there's not a challenge to the institution of slavery if you have a great and glorious rome on the potomac, and the federal government is viewed with power and that cane change the equation. washington challenges his g fellow southerners and the jeffersonian model i

as capitalism itself has existed and to be fair. it's practiced in notably different ways in different parts of the world. but one of the most toxic and recurring problems is that in too many cases, the system seemed designed to favor small elite segment of the population. if the idea we began with that way before the crisis of this corona virus, we will already grappling the crisis of capitalism. we should have this phrase, you know, that we need to save the economy or we need to keep businesses going. it makes sense, but i think we have to ask that deeper question, which is, well, what's in the economy for look at something like g d, p, gross domestic product. all that means is that there's more affluent, but it has nothing to do with distribution that has nothing to do with the quality of people's lives. you can have enormously high g, p and, and have rector, race, homelessness, an unemployment. so we, we have to deconstruct this idea of the economy and, and put people at the center. we are living in the moment and not being clea

s. capital, you know what? the democrats and republicans agreed in may on a non partisan independent commission. the republicans backed out led by mccarthy, kevin mccarthy, minority leader of the house. then again, they sent 5 members. now, by the way, this, the of the 7 numbers selected by speaker nancy pelosi, one is republican list cheney. by all means, if you want to question list chinese credentials, then you may not even be a republican here. point 5 guys, jim jordan, jim jordan, you know what, when our cooking laugh. yeah. you can laugh because you don't have much of an argument, but you know what? when our cook pony al capone's cannot question william, that's his partisanship. you don't appoint an arsonist to investigate the fun so. so no, that's that. so you guys lot yet. ok. so nancy pelosi isn't partisan. i your whole argument collapse are ok, that's right. i want to jot. i want to get everybody. hey, i want to get everybody in the program when every be fair and debbie hasn't said one word yet debbie

the question is, did capitalism turn the emergency into a disaster with me capitalism. it's an ideology and economic system, a political state. but how is the system based on private ownership in the profit world, in a ton of crisis? when the situation demands, we act not the individual gain, a collective benefit, stay at home and protect lives, said test test test without preventive measures, it could be a spiking cases. all these cancellations are a way to flatten the curve cause it 19 hasn't been like any other crisis. job losses, health care struggle is a critical need for relief from the state level struct segments of society that normally don't face these kinds of grave economic stresses. in short, all of us haven't heard of pandemic once in a century type of crisis. it's become evident to many that pre code times in full crisis. ty, countries went on to look down and i spoke with a group of people. his work has been all about dissecting and analyzing capitalism . when people say they want to go back normal to complain. good. that sounds pretty good to me right no

i'm curious if that means that capital is still there. have a sense that they will be able to find it in china, hong kong, and the asia region? ram: there's plenty of access to china and even if we don't get it in the adr market in the u.s., many of us are set up for hong kong. a lot of it is finding the capital, in my opinion, and it's a function of how they find it. do we have to keep capital in hong kong, or will it be easier? if this is just a frictionless way to purchase a chinese company, my sense is that the capital will still find its way into chinese companies. it's about how much control the chinese government wants to have over its capital. joe: obviously, you know, this concerns what big companies can do with data and whether the interests of large companies are in line with the beijing party. you hear rumblings about it there. it's always rumblings when he filed against the big company. the actions are not as extreme or fast, but we know the lytic landscape has changed. is there any concern of a further escalation of that in

there's only capitalism either is capitalism or is cornism, but it be both and i think that's one thing. i love about god frank your example there because that is exactly kind of where we see the economy going regulations in the name of small businesses put on more burdens. so when you put on more burdens a small business can't hire what teams of lawyers. to comply and so dot frank is such a perfect example where there was some issues that went on and i think people misunderstood but that's leave that for for that the whole other webinar we can have about that. right exactly, but we're gonna put our new regulations because we want to control the big bangs and help the small banks and you know, like ronald reagan said the scariest words in the english language, right? i'm here. i'm the government. i'm here to help you, right? what's happened is? the regulation the expansion of government right gives an advantage to large corporations and that's the regulatory capture. you said right that corporations and combination with the government they can work together. they understand and one anot

how he described what took place in the capital, and for those of us in the capital police who servethis institution and who love the capital building, it was the saddest day for us as well. more than six months later, january 6 still is not over for me. i have had to have multiple counseling sessions from the program and i'm now receiving private counseling therapy for the persistent emotional trauma of that day. i've also participated in many peer support programs with fellow law enforcement officers from around the united states. i know so many other officers continue to hurt, both physically and emotionally. i want to take this moment to speak to my fellow officers about the emotions they continue to experience from january 6. there's absolutely nothing wrong with seeking professional counseling. what we went through that day was traumatic and if you are hurting, please take advantage of counseling services that are available to us. i also respectfully ask that this subcommittee review the available resources and services available to us and consider whether they are sufficient e

pension funds of which the black community is a capital supplier. therefore, the lack of investment in black businesses and black entrepreneurs actually results in the transfer of wealth from the black community to other communities. this -- the approach taken by banks and corporations support black banks and mdis can only have limited impact. black mdi's total aggregated assets as approximately $10 billion, compared to total u.s. banking assets of 20 trillion dollars. given the limited size and smaller geographic focus they al are simply incapable of he addressing the racial equity gaps. fintechs, however, are creating a transformation of banking and financial services and similar to the other industries tech-driven companies are designed to scale and s efficiently build new models to support the market.. traditional companies and banks generally do not have those c skills to make those kind of t changes to a tech-driven economy. and therefore, also many small community banks are adding fin techs on top, but none of them are black-owned banks. ther

so today is capital. i stayed largely quiet on the curfew as people wait for the next steps in an evolving political crisis and not the is the largest policy in the government coalition. it's pushing for elections after president high sky is dismissed. the primary highlanders reported a record number of kind of virus infections for the 3rd day in a row, it registered more than 16000 new cases in 24 hours. i some restrictions are in post last week in the capital bank and other region. joe biden has warned significant cyber attacks could trigger a war. the us president made the remark, small speaking to intelligence personnel, cyber security is become a top priority for the bike ministration. after a series of high profile, american top diplomat has arrived in india, secretary of state antony blinking is bad to meet his counterpart as well as the prime minister. talking points include the response to the corona virus pandemic, regional security and climate change. lincoln is due to fly on to quite next. eli

human capital concerns. if we are running those projects, were not as worried about human capital issues, particularly related to forms of modern slavery, physical safety of employees. we have had for structured investment where employees on that project have been kidnapped, so these are things from a risk/reward we should be concerned about, the reputational risk for calpers. the other part of this is to be successful. there is stakeholder education and communication that would need to happen. there would need to be significant shareholder activism on this, whether elected officials on capitol hill, which they seem to be struggling with this, and how do they promote these policies and get them past , the how, why, and how do you leverage capital and how do you make that private capital beneficial not only for the sustainability of the project, but for the sustainability in the case of our pension fund infrastructure can't be free. we are expecting a 6.8% return on our money no matter the financing or the de

being crushed between the capital doors by writers, urged congress to act. i need you guys to address if anyone in power had a role in this, we're not allowed to join us capital police officer harry dunn recall being taunted with racial slurs. no one had ever ever called me. and while wearing the uniform of a capital police officer, just 2 republicans joined the panel defying their party to question the officers. you guys may like individually feel a little broken. she got his line. if you guys help you here, the former president trump say, quote, it was a loving crowd. there was a lot of love in the crowd. how does that make you feel it's upsetting? is a benteke excuse for his behavior for something that he himself help to create this monstrosity. i'm still recovering from those hogs. in cases day the the house select committee saw previously unseen video. some of it graphic, profane and threatening the yeah. the i people died on capitol hill on january 6th, but despite the presence of 2 republicans on the committee, the republican party is largely refusing

ok, capitalism to meaning, somehow capital, the interest of capital rise above the interest as of friday of the whole and they capture the cost for their own benefit. and that we don't want in the country. you've often extol the virtues of marriage, socratic, communist party, congress. the definition, philosophically of meritocracy, easy and equality. do you don't see the dangers of the increase in the inequality in china? not just because of how successfully the in terms of market the economics china is become because of the system itself based on meritocracy. well, i've always said that china is in, has america aquatic governance, but i never called the american see, i think there's an important distinction there. governments, me able people can raise, can rise through the ranks and become decision makers. and that's what america government me. so you want capable people or test it to the years and just like a good company, you will have people that are capable, your hire them at the bottom and they move their track record and you give them our responsibility and how, that's what, how

oh no, they push them to the capital. it's not my fault, but you know, to figure out who their real enemies are. so who's the carrier now? yeah, i haven't burned absolutely lockers be that we have. why is the pharmacist absolutely our domestic terrorist, the capital building to me is running from them. but then at the 100 percent, you have protesters and i don't want to pay people for centuries because yes are people. but when people say that they usually and they're not destroyed, property and destruction of property, not violent destruction of life is violent. i don't know how white americans can like luxury. what happened today and not be and not it's not something new. it didn't happen when you're going with murder. what this country counted on capitalism. when howard, i just want to support black watch matters. and i. 6 do know they gave me the. 6 the me a good the the the a the the the ah ah ah the ah the ah! to don't leave it will move a new she will tell when she gets home ready to love me fishing. she wouldn't be

the people in the capital.er one. number two, this is nothing like 9/11. joe biden even in his good day when he had with was an idiot. and now it's a liz cheney saying the same thing. there were no weapons fired in the capital by protesters but, at one police officer randomly killed a protester. we don't defend what happened in the capitol building, unlike our opponents on the capital side to come up but define violence. they defended violence in portland, how come we don't have any of the federal law enforcement from portland testifying when nancy pelosi called them stormtroopers? or when jim quadrant called them stormtroopers? ofd course, if liz cheney isn't such a hate mode, she will never bring it up either. there's a lot that can be brought up about this as a matter of fact and as you all pointed out, what did nancy pelosi do? she was in charge of the security of that building and she was told about potential problems of that building. f what did the fbi do, they had information of the nypd and the norfolk

know when capital gains goes up, capital gains rate goes higher, equity prices tend to be flat to downntum stocks where there is the embedded long-term capital gains, they tend to do less well you started the conversation with the idea of higher interest rates and the ten-year rising slightly from here, closer to 190 at the end ary. basically higher rates, higher taxes, higher corporate and higher capital gains taxes those are three big richks that are not fully factored into the market fourth out into next year, the end of 2022 around 4,600 for a level. market so broadly speaking, we are flattish in second half of the year with a gradual rise in 2022. >> right now, i know, i wonder if you were surprise pd by that trip down to 125. you said that if we end the year at one-six instead of one-nine, maybe fair value closer to 7,700? >> yes the sensitivity of the equity valuation is significant on an absolute basis as we talked about before, p.e. multiples, price to book mu multiples -- >> david, i hope you forgive me. one interruption back to senate banking here is senator warren. >> i wan

capitalism without competition isn't capitalism, it's exploitation. without help he competition, big players can change and charge whatever they want and treat you however they want. for too many americans, that means accepting a bad deal for things you can't go without. so, we know we've got a problem, a major problem. we also have an incredible opportunity. we can bring back more competition to morph the country , helping entrepreneurs and small businesses get in the game , helping workers get a better deal, helping families save money every month. the good news is we have done it before. in the early 1900s, president teddy roosevelt saw an economy dominated by giants like standard oil and j.p. morgan and the railroads. he took them on and one. they gave the little guy a fighting chance. decades later, during the great depression, his cousin, franklin roosevelt, saw a wave of corporate mergers that wiped out scores of small businesses, crushing competition and innovation, so he ramped up antitrust enforcement eightfold, saving families billions in t

they want even in the capital. been pressing for those answers to those kind of questions as well. but the fundamental question is why wasn't there a proper security presence that particular day? again, only the speaker of the house can answer that question. what i find interesting is i have it right here. political headline. they accepted that everything was fine. it was reported. last night ago on your network and i made these very points. i talked about this. suddenly, shazam, the speaker changes everything. can't be on the committee. so maybe that's the reason. maybe she just doesn't want to answer that fundamental question or any other questions. this is all political and we have known it from the start. >> tucker: jim jordan of ohio, thanks for joining us tonight. appreciate it. >> you bet, tucker. thank you. >> tucker: so, two years from now, it think tank tells republicans we need to invade iran. pause and ask who is the person giving this advice? meanwhile, we are learning much more about the fbi's involve

we've heard from a few officers who responded to the right of the capital. i'm john roberts in washington. >> this all began about 9:30:00 a.m. eastern time. going to the 1:00 hour obviousl we've heard some very compellin testimony from many of the officers that are on duty at th capital that they.

s. capital thorpe. the 1st conviction under hong kong national security law . the writer of this bike is found guilty of inciting secession and terrorism. plus the catholic cardinal on trial over london property deal accused of embezzlement, food and money. he descended into the latest from the tokyo, again, the future of reigning olympic gymnastics champion simone boss is in doubt of the she withdraws from the team files. thing she needs to focus on her mental health. ah kennedy is civil society groups have warned president case said not to extend the emergency measures that oppose that just 24 hours ago. the groups which include the country's powerful labor union have called on the president to establish a road map out of the country's worst political crisis. since the 2011 jasmine revolution on sunday said, backed by the army fact that the prime minister and froze parliament leading to clashes in the capital between his supporters and opponents. and in the past hour we have learned that more officials have also been fired after accusing said of staging, a qu

i told him to just leave the capital and in response to yield. no man, this is our house. president trump invited us here. we're here to stop to steal. joe biden is not the president. i too will been crushed by the riders. i could feel myself losing oxy and i recall thinking to myself, this is how i am going to die. defending this entrance, he bashed me in the head and face with an rupturing my lip and adding additional injury to moscow. at this point, i knew i can sustain much more damage should remain upright. i feel like i went to hell and back to protect him in the people in this room. but too many are now telling me that hell doesn't exist or that hell actually wasn't that bad. the indifference shown to my colleagues is disgraceful. and scotty, you know, one of the things that the officers at the end of the hearing were asked by the panel of what they wanted after all of this. and they said that they just wanted the investigation to keep going. they wanted to know who knew what and when, why they weren't not why they were not given the help

sorry, who's joining us from capital? are these out about what are you hearing about the situation on the ground in gray right now. what we've been seeing video all men who appear to be wearing, he'll p, a federal, military fatigue being paraded around the streets of medical or the capital of t guy. and we have spoken to the spokesman of t d f that the grand defend forces. who has said that in the last several days, 7 days or so, they have captured thousands of if you will, p n, a federal soldiers in fighting when they were fighting in areas around macalester. he says that they have killed some as well, and they want to keep the school does that. they captured as prison as a while. it's very difficult to verify independently some of this information and video. we're trying to get government official to sponsor to this. going to be interesting to hear how the government reacts considering, but in the last few days, officials including prime minister, i'll be amid, have been saying that have been giving reasons why the sold

private capital will often follow. as will capital from other countries. i think the u.s.opulation generally continues to support infrastructure assistance and humanitarian bases. there are five things that have happened that have challenged what have traditionally been leadership in this area, certainly leadership in the west. first is the global need for infrastructure is astonishingly high. it is estimated in the next 15 years, as much infrastructure will be built as in the world today. that is by no means the finish to the infrastructure need. second is china's belton road initiative, which mr. hadley has often said is the grandest of grand strategies on the part of china. it meshes a global need, which is extraordinary, with china's status as an exporter of capital. the u.s. and western europe -- our importers and china is an exporter. and china's ambitions. these factors are meshed together in what on the part of china is an extremely astute program. keeping us out of the projects makes sense. we see this happening with countries vying for infrastructure attention fr