hundred six to one nine hundred twenty nine you remember what happened party like it's one nine hundred twenty nine but song anyway the do. now went up one hundred eighty one percent and then from one nine hundred twenty nine to one nine hundred thirty two our second chart you'll see what goes up must come down and what we can see from this one is it's up up the staircase and right down the elevator shaft down eighty nine percent now recently in one nine hundred ninety eight what we're replicating today one thousand nine hundred to two thousand we had the nasdaq dot com bomb and we'll have a chart of that we can see that the nasdaq went up two hundred for a right getting two hundred fifty five percent in two years and then on the downside from two thousand to two thousand and two it dropped seventy eight percent and destroyed five trillion dollars in market cap because of greenspan's irrational exuberance where fifty two percent of these companies no income companies disappeared and went bust in the dot com bomb now the next chart we have is the dow currently from two thousand and nine

but productivity has been rising steadily in the united states since the one nine hundred thirty s. since the early eighty's it has become uncoupled from wages effect of green line there which have remained flat or fallen so even as individual companies become more productive and thus more profitable producing more goods with lower costs and less labor the economy has been stagnant at least for everybody except the billionaires because there's little demand for those goods and that's because that simple econ one hundred one maxim which dates always back to adam smith that demand is what drives economies and wages are the principal driver of demand. the majority of american workers spend one hundred percent of their wages or more more than one percent they go into debt and all but the top few percent of american workers save . nothing even close to ten percent of their wages. it is that spending from that ninety five percent of american workers it is that spending that creates demand as wages flatten or drop as the ability of unemployed people to continue buying things is cut by the

up until the up until the one nine hundred eighty s. one nine hundred ninety s. and but when it drops below that fifty percent then all this hot money starts flooding in at the top which starts the whole gambling can see own thing and that's what happened after the reagan tax cuts then we got the the dot com bubble and then that burst in the housing bubble and that burst the credit bubble and that burst and now we're reinflating into the stock market bubble. i was under the impression though that things are getting better unemployment is down the figures are down the economy seems to be booming car business is a pretty good year couple of slips with pretty good. home drugs is in southern california booming where was the blood well that's how it always looks when a bubble is reinflating and the way that you know that it's a bubble rather than genuine healthy growth in the economy is that first of all the g.d.p. itself on average is not growing that much but secondly i'm much more important indicator is that the average income of working people is not growing subst

or back in the one nine hundred seventy s. when the church committee was formed and it's very similar to today with them justifying it on the basis defending the incidental collection of information by by saying that it is just incidental and so you know i would say to you that if ninety percent of the information being collected is incidental then we don't have a targeted surveillance apparatus and that's been shown by so not a massive dragnet that is sweeping up all peoples' communication yeah almost the exact same terminology there cavanagh thanks so much for breaking it down coming to stolen firedoglake really appreciate your work. and you. coming up i'll speak with a former producer of sixty minutes about why he left the program so to me. that's where we've been to do twenty years best by the progression of derivatives trading is that now they've got the ability not just to move the price of a stock but to move the price of the country in the case of greece other countries or ukraine what's america doing in ukraine they w

or back in the one nine hundred seventy s. when the church committee was formed and it's very similar to today with them justifying it on the basis defending the incidental collection of information by by saying that it is just incidental and so you know i would say to you that if ninety percent of the information being collected is incidental then we don't have a targeted surveillance apparatus we have and it's been shown by snowden a massive dragnet that is sweeping up all peoples' communication yeah almost the exact same terminology there cavanagh thanks so much for breaking it down kind of a stolen firedoglake really appreciate your work. thank you. coming up i'll speak with a former producer of sixty minutes about why he left the program so to. my friends that are now friends so said coco chanel jim as well ben's making a global monetary fiscal they can all make policy these days of collapsing up by what america is teaching everyone i don't lose friends and influence people. big bucks but. still did you know the price is

since the one nine hundred eighty s. they've they not only have been important players in the reagan and bush administrations but they've also had keep positions in powerful think tanks they control some of the major op ed pages of american newspapers like the washington post and they've they've established themselves as a force to be reckoned with that should really prevent a president from from challenging them the president does control u.s. foreign policy but president obama has not been willing to do so plus he's surrounded himself with some of these where one might be called liberal interventionists and they're very very much in league with the neo cons right now you've seen an alliance that's developed over the past several years between the old neo cons and these liberal interventionists and in fact some like robert kagan some of the old neo cons now want to call themselves liberal interventionist so what you've seen is kind of a merger of those forces and president obama has been unwilling to challenge them and

or back in the one nine hundred seventy s. when the church committee was formed and it's very similar to today with them justifying it on the basis defending the incidental collection of information by by saying that it is just incidental and so you know i would say to you that if ninety percent of the information being collected is incidental then we don't have a targeted surveillance apparatus we have and it's been shown by so not a massive dragnet that is sweeping up all peoples' communication yeah almost the exact same terminology they're kavanaugh thanks so much for breaking it down coming to stolen firedoglake really appreciate your work. thank you for coming up i'll speak with a former producer of sixty minutes about why he loves the program so did. you like me i want you comedy news with some t one to comedy news to be a bare fisted no holds barred fight to the dad. like a vampire fighting into the next in the corporate elite and a billionaire freaks well they're going to rise and. that's what you get with my new show

he was asked after the administration began in one nine hundred sixty nine to look into what johnson people knew about what had happened to the paris peace talks and is part of that he examined what they knew about the nixon campaigns efforts to sabotage the. peace talks and particularly there was an emissary and all who was working for the part of the china lobby as you heard johnson say who was working for the campaign and was operating under the direction of john mitchell the camp then the campaign manager and she was contacting both the south vietnamese embassy and bastardly d.m. and the south vietnamese government president too with that with the idea that if they could just block the peace talks until nixon got in the nixon would give them a better deal so that was what so what also what what the nixon people had learned about president nixon actually president elect nixon was told by f.b.i. director j. edgar hoover after the election that johnson had these wiretaps on him and on his vehicle and so that's what set nixon off he realized that johnson might have had this this evid

five hundred close point two percent higher at one thousand nine hundred ninety seven and two cents closing at a record level for the twenty sixth time this year but on the same day within the same hour we received this tweet from reuters jamie i.m.f. cuts u.s. twenty fourteen growth forecasts to one point seven percent from two percent only a month ago well yes well this is an interesting study on market behavior mass psychology and prices so. the fact is that markets tend to go up when there is a feeling out there that the fed is going to have to stimulate because the activity on main stream is weak that's why when things like the unemployment numbers go up stocks might go up as well because the idea is no the fed is going to inject lots of money this will cause stocks to go higher so it's very often a disconnect between main street and wall street but over the past twenty years there's been a new trend and that is that interest rates have been trending towards zero and we're entering a period of negative reserve banking on the central bank level central banks have no assets whatsoever th

the push that's now come to shove in the one nine hundred ninety s. a historian will say to you wait a minute i know this doesn't go down well today we need the archives we need to see what the clinton administration and its european allies were thinking did they ask themselves the question you just asked peter if we start moving nato toward russia and you're right i mean there was no reason other than to contain russia by the way if that's so then the answer to my question when did the policy of containment new containment which the new york times said last sunday or i think it was april twentieth that the obama administration has now adopted where did that begin and then the new policy of containment began in the one nine hundred ninety s. but we need to know what did the clinton administration think would be russia's reaction that's exactly the question you ask me now logically logically you and i and professor mercenary would agree that if you push and push militarily toward a great power perhaps not. so great at that time but coming back that it once been your adversary it's goi

stocks buying property in london they're the dumb money foxtons owner the guy who stabbed in the one nine hundred eighty s. he's completely sold out he sold out his entire share so he's smart he's smart money now you know the s. and p. five hundred hitting at the twenty six new all time high so far this year the i.m.f. just gave the blessing to the u.s. fed to keep interest rates at zero or close to zero well into two thousand and fifteen because it looks like the economy is doing badly there now here is a very mainstream publication in the united kingdom the spectator and the headline is the next crash would we could be on the verge of another financial crisis says liam how again we're actually going to have him on the show on monday but you know here we are on the verge of another crash as the article points out systemic global risk today maybe greater than before the lehman crisis the b. i s. warns as debts have risen across the developed world the average combined public and private debt ratio is two hundred seventy five percent of g.d.p. compared with two hundred fifty percent and tw

of course in the one nine hundred eighty s. the u.s. and then there was nafta taft in the one nine hundred eighty s. the u.s. was supporting catherine selection campaigns that killed hundreds of thousands that led to the first big wave of migration from those countries and then since then as you were pointing out you've had a trade agreements that have displaced millions of workers particularly small farmers and so on that's led to another wave of migration and then to top that all off now you have this drug war which has increased the level of violence to really unsustainable levels we have more refugees we have about thirty seconds and obviously strengthening the border is a priority but i don't think that it's a solution of the crisis what is going to take to fix this well i think you know the progressive caucus said it very eloquently in the statement that they put out security policy towards the whole region really needs to be revised it can't be going to corrupt forces with total impunity that's the first that needs to be more tra

report i'm max keiser you know according to local papers domino's pizza staff were caught buying fifty nine pence potato wedges at the down market supermarket audi and then selling them to domino's customers for three pounds forty nine of course this is merely trickle down central banking where the central bank sold the crappy product of cheap money the fifty nine p. potato wedge in this case to banks who then sell it on to you at a five percent or more market bestows same cheap crappy toxic debt money product from the central bank no values been at it and nor will wealth creation in the nutrition for the economy and wages ever be found in the cheap money potato wage is just repackaging the same crap marking up stacy well we're going to look at some of these horrible potato wedges of central banking being sold as high priced risky assets world a.t.m. lose to frankfurt as yellen fed slows cash as janet yellen winds down the federal reserve's money printing operation mario draggy is boosting europe's calf supply that means the dollar's yellen fed is removing could be compensated for by cheap

and as a result in the mid one nine hundred ninety s. the clinton administration began to push hard for nato expansion and there's no way you could explain nato expansion unless you make the argument that it's designed to contain some sort of future russian threat nobody put the argument for nato expansion in those terms at the time but in retrospect it's quite clear that that's what was going on so the deep cause of the present crisis i believe is nato expansion which is part and parcel of a strategy designed to contain russia and to strip ukraine away from russia's orbit and to grade it into the west the precipitating crisis would cause the. present crisis that's going on i should say the precipitating cause of the present crisis were the events of february of this year especially the february twenty two coup. in kiev. it's stephen it's interesting if we if we look at nato expansion and it ends up being kind of like a chicken in the egg situation because if russia is the threat do you want to expand nato but if it isn't a threat you kn

see the national labor relations act of one nine hundred thirty five which created the n.l.b. are guarantees workers the right to organize meaning that if these allegations prove true mcdonald's can be a ton of legal hot grease now since the initial filing mcdonald's has done everything possible to distance itself from the case claiming that it can't control the actions of its individual franchises and therefore should be absolved of any responsibility in turns out the and i'll be our wasn't too convinced that a major victory yesterday for the four million fast food workers across the us the organization ruled that mcdonald's as a whole can be held liable for what happens at individual franchises see it like all major fast food brands the corporate structure of mcdonald's and set up so that even the company does not directly own and operate franchise locations franchise owners are still subject to strict rules regarding everything from employee uniforms to menus as part of their ownership agreement katherine ruckelshaus an attorney for national employment law project even went

filed allegations with the national labor relations board and l b r against mickey d's for firing nine employees for trying to unionize according to workers the incidents took place in several locations across new york city over the last year and a half but terman nation is just the tip of the iceberg along with the nine fired employees the finally also claims that other workers were suspended or had their hours slashed for organizing so the national labor relations act of nine hundred thirty five which created the l.d.r. guarantees workers the right to organize mean that if these allegations prove true mcdonald's can be a ton of legal hot grease now since the initial filing mcdonald's is done everything possible to distance itself from the case claiming that it can't control the actions of its individual franchises and therefore should be absolved of any responsibility well turns out the and i'll be our wasn't too convinced that a major victory yesterday for the four million fast food workers across the u.s. the organization ruled that mcdonald's as a whole can be held liable for what

five hundred close point two percent higher at one thousand nine hundred eighty seven and two cents closing at a record level for the twenty sixth time this year but on the same day within the same hour we received this tweet from reuters jamie i.m.f. cuts u.s. twenty fourteen growth forecasts to one point seven percent from two percent only a month ago well yes well this is an interesting study on market behavior mass psychology and prices so. the fact is that markets tend to go up when there is a feeling out there that the fed is going to have to stimulate because the activity on main stream is weak that's why when things like the unemployment numbers go up stocks might go up as well because the idea is zero zero the fed is going to inject lots of money this will cause stocks to go higher so it's very often a disconnect between main street and wall street but over the past twenty years there's been a new trend and that is that interest rates have been trending toward zero and we're entering a period of negative reserve banking on the central bank level central banks have no assets whatsoe

builtin nine hundred ninety one. has played host to some of the world's most prestigious racing events and it's sixteen turns over four point five klicks provide a formidable challenge for cars and bikes. this month the track was a hive of activity is big name teams tweaks and superbikes ready for the twenty four hour enjoins race. just a stone's throw away in pits forty seven the students are working just as hard to bring their bikes all to scratch for tomorrow's inspection. this year seven teams from spain poland ecuador and russia each looking for a place on the podium. hoping to repeat last year's victory and in the face of stiffer competition the mummy students have come back with a completely new set of wheels they've dropped the electric bicycle design in favor of a fully fledged enduro style motorbike we don't need the same headlights as last year's winner this bike has more in common with his complicity in engine cousins next door . money is journey to barcelona started the best part of a year ago it's one m

nine palestinians have been killed in air strikes on gaza. hamas says seven fighters died in the single strike south of the gaza strip. the israelis say it's retaliation for more than 20 rocket attacks launched from gaza into its territory. tensions have become higher since the murder of these three israeli teens. their bodies were found a week ago. they were abducted hitchhiking in the west bank. their funerals were held last tuesday. then this palestinian teenager abu khdair was kidnapped and his body found wednesday. this triggered clashes. also arab towns north of israel. the prime minister netanyahu has promised to bring to justice the killers of khdair. he says we will not allow extremists to inflame the region and cause bloodshed. then from hamas, it's threatened to retaliate saying israel will pay a tremendous price. james reynolds is in jerusalem and sent this. >> we understand nine palestinian militants have been killed. seven were from hamas. that's the islamic armed movement that rules gaza strip, the piece of land, part of it of

and one nine hundred ninety s. when the mainframe kind of fell out of favor with a lot of corporate users. about this recently. if i'm seen minutes going back to nine hundred fifty phone discovered that in every recession they had to raise rates tonight and then to not. after each recession so we are on a scale of having it two nights and then panicking amazing to not and that's because once policy takes time to feed into when economic effects but the effort i'm saying and the central banks and other countries have to make decisions on a month by month basis they said. backward looking indicator is so also from there making decisions about what's going to happen going forward and what if it is nothing but a simple most just happened which may be nothing because they only did it last month it's quite a problem trying to judge when to raise rates and by how much now when central banks begin raising rates they usually continue to do so so is it possible that raising rates too late means having to be more aggressive si