tv Keiser Report RT December 7, 2013 6:29pm-7:01pm EST
two point nine two percent so let's look at some of the lies that he had to tell in order to make the economy here look better well workers overall pay has not fall and insists george osborne george osborne is to claim that workers overall pay has not fallen despite official figures showing that the wages of middle income families have dropped by five thousand pounds over the past five years so that's a drop of six point four percent according to the office of national statistics george osborne is saying those are a lie he's going to come out with his own report to show that in fact those numbers are deceptive yeah george osborne a stud so much a clown as he is one of these french minds and but he speaks which is kind of interesting for a mind he's more of a friend of mine it's a part of my show and he believes that these numbers do not tell the truth these are all remote greet the famous french artist who would say this us and it. was a post painting of a pipe this is not
a pipe corridos more. so to put all of them so you. could you shouldn't blow you see she was also one of the mean frozen treacle you. see not everything is a real korean charge over people are suffering they're not suffering in this country they're really expressing their patriotic fervor for the coalition government they're not starving they're not freezing to death they're merely expressing their putrid to those whom well he does look a bit poorer scene you might say so he could be. just as you know just look. you know he's a big factor a let's be honest about him so as his brother in arms david cameron david cameron is. my impression david cameron more of these approved talks dinners you know he's like. oh i didn't know. sorry were the poor brute who is going to rule. paula. no goodness. well let's
look at those who are so poor a scene and this is the people who can't even afford to eat this is looking at the true state of the british economy now george osborne as we said he likes the did not the statistics deny the actual facts but tweet from the independent reads experts said government may be covering up how austerity and welfare cuts are adding to food crisis hunger in britain has reached the level of a quote public health emergency and the government may be covering up the extent to which all stared and welfare cuts are adding to the problem leading experts have said this is from the british medical journal and they spoke to a group of doctors senior academics and to leading universities all the way to calculate g.d.p. in this country is going to people are killing so it's really debt per death or death so there will be fuel poverty this winter meaning people will die like they
did last winter and that will add to the g.d.p. so i was more talk about g.d.p. growth these are showing dead bodies and the first we looked at bodies and helps our g.d.p. growth. so the report by these doctors and university says that a surge in the number of people requiring a merge and seafood aid a decrease in the amount of calories consumed by british families and a doubling of the number of malnutrition cases seen at english hospitals represent all the signs of a public health emergency that could go on recognise until it is too late to take preventative action they write again one of the things that they say is most important is the rise of malnutrition in english hospitals they're seeing so there's five thousand five hundred cases in the last year from about three thousand at the beginning of the crisis so once you deprive a child of the nutrients they require to develop their brain and their capacity well now you're just writing off the future generation they're not male nourished.
they're expressing their patriotic fervor. well perhaps as george osborne will say because they did commission report the government looked into it they're delaying it they've had their results for several months they're saying they're delaying it because they they're not quite happy with some of the facts revealed in their own report so they want to make sure that they were rigorous and diligent in finding the right information it's the soviet union played out here in britain so i remember the soviet union famously would say oh we've got all these tractors rolling off the assembly line. making ten times more kilos and you know there would be this huge propaganda organ to misinform the public so here's george osborne doing his best stalin impression and saying oh yes here's the motel nutrition is good for the nation and there is a reduction in living standards and
a stereo is fantastic and we're going to beat whoever it is we're fighting against we're not sure but the chinese give us a lot of money and boris johnson thinks that the reason poor people are poor is because are stupid and we're there we're down with that because we're funky we're down to number eleven number ten downing street come and see us we've got a show every two four hours we're the board of cameroon pantomime. so as i said that the future generation is being deprived of nutrients but they're also being deprived of the nutrients of savings this is in the next headline max biggest drop in savings for forty years bank of england figures reveal the bank figures show twenty three billion pounds taken out of long term savings in the past twelve months equivalent to nine hundred pounds for every household now they spoke to ross altman a former downing street advisor and she told the telegraph quote the figures are desperately worrying people are stopping saving for the long term because all the policies of the last few years mean you would be
a mug to save well other savings are examined in this country i mean how do they collect all the same and to export. in china anyway most and most it's almost born is collecting the same with himself i mean he's down at the farm you know pleasuring pigs all day long should be over there doing something more useful than pig pleasuring so you can export the semen to china you would think this guy had a real job maybe he likes the job maybe that's why he took the job it is all being collected here they're not sending any live pigs to china now interestingly apparently the pigs here have better genetic material and it goes with that whole eugenics concept that you brought up with boris johnson saying that the reason why people are poor are because they have low i.q. which is the classic eugenicist idea that came out back in the thirty's and forty's well you know it's a combination of two things here first of all the pigs share you know the other cheap date so they're able to collect seem a lot cheaper than they would a silly typewriter big stone of the coat does or france for example and as you
point out it's an example of what boris johnson spoke about the reason the poor people in the u.k. are poor because they're stupid that is an example of jennings so here you've got the pig eugenics in a pig same in mixed with boris johnson the pig who sits behind me in the going and looking building who's talking about eugenics in the country and saying look we need to implement eugenics to weed out the stupid people that's what boris johnson saying well to weed out the stupid people well it comes around during times of great depression where the great depression back then they were in a great depression and the people who caused the great depression tend to be the fraudsters the banks toure's and they tend to be hoarding the wealth at the top and they don't like to look at themselves so they try to think of some other reason well those people are stupid because we've deprived them of food while they were growing and nutrients while they are growing and we deprive them of savings and now we're going to retire at seventy years old so you know those people are stupid for even listening to us but finally we're going to go to where this is all leading as
boomers retire well all be detroit soon so detroit is allowed to move forward with . bankruptcy and on the chopping block of course as all those obligations to the former workers and present workers analysts have worn for years about the massive underfunding of public pensions the detroit bankruptcy will test whether governments can cut back on promises made years even decades earlier make no mistake other cities are watching the proceedings i'm talking about you philadelphia oh this is of course a more scapegoating of the four so the workers work their lives for their pension and their cash but you can be used to leverage on tons of synthetic obligations on wall street so that money has to be stolen clearly whether you're in the u.k. or detroit whether you're birmingham manchester or detroit you know bridges are up for grabs on the show yesterday on wall street led by the show's stars
a member did a number eleven of boris johnson they want to take your money and they want to turn it into a book on the floor in front of the writ of spinning the globe given an income for doing nothing. so and there's a very much a lot of mainstream media propaganda against the workers here that they are somehow they're the ones that drove the city into the ground not any of the derivatives and the interest rate swaps and all the crazy bank dealings that happened over the last few years or the collapse of the auto industry and a lot to do with tax policy and shipping jobs to china where we're now only sending them take seamen in return well it goes to the whole nation and therefore the world after this detroit's pension woes however highlight a bigger challenge the u.s. hasn't saved enough to support the coming retirement of millions of baby boomers in a sense we are all detroit years now george osborne has said that here in the u.k. anybody fifty and over is safe we're not going to cut anything from your pensions and you can retire at sixty five and stay healthy and enjoy some years of
retirement it's just all those suckers under fifty we're going to make them work fine. you know make them take out huge amounts of debt so finance a university and they're going to work until they're seventy will probably raise it to seventy five or eighty if they happen to live that long what are. we going to go we're going to go to town and move on. all right states over the second have a whole lot more. quite often countries rich in natural resources are the poorest africa is a colony it's a colony of the big corporations it's a colony of some of its own leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts whole country is drowning under the amount of debt
that they should and so every year they would borrow money. and they would use that same amount of money to pay back. the money really. the wages of debts. right on the scene. first rate. and i think picture. on a reporter's twitter. and instagram. could be in the know. on. torch is on its epic journey to such. one hundred twenty three days.
through two thousand nine hundred towns and cities of russia. relayed by fourteen thousand people or sixty five thousand killing. in a record setting trip by land air sea and others face. a limp dick torch relay. on r t r c dot com. welcome back to their car is the report i am max kaiser timed out turn to professors the author of deep bunking economics steve king welcome back the great
to be him i love your backdrop on the world went to war of course deep bunking economics all over the world what about george osborne let's spend some time deep on king george's board he's not an economist but he still managed to run the u.k. economy into the ground the office of national statistics says middle income household income in the u.k. is down five thousand pounds the two thousand and eight. politicians believe what they think of the experts because they want to have as little numbers they can quote and say in front of that say they it's all going to be wonderful in the future and they end up being suckers for an economic discipline that has no idea of how the economy operates didn't see this crosses coming in their advice is actually made it was on the trouble is all as well as following that advice so i was driven the economy down and the only way i can see up is by causing another housing bubble which is where you know what i call with the help to they call it help to buy i call it help to sell has turned up so you've got another property bubble and other assets because going on here that's about as far as they've gotten
it's running out of steam as we can all see right now on the real economy is continuing to tank we need to get rid of policy what i call the politico financial complex is not the military industrial complex screwed up capitalism which was in house thoughts forty years ago it's the financial politico complex and that's where most of our problems come from so they're making a bad situation worse so the action in on the ground are suffering from fuel poverty they're freezing to death they are malnourished in this country rates of malnourishment are now at decade high levels but those numbers never seem to factor into the chancellor's equation in terms of how the economy is doing it's almost as if they're scapegoating the poor as not by. johnson the mayor here in london as recently said that the reason the poor are poor is because they're stupid as sounds like genic so most was born of these guys are they back to the. i mean the whole thing is we need you when you look at the research behind
eugenics goes back to a cold cereal book fifty sixty seventy years ago that was a slight because economic research actually did the whole thing you know as mentioned the upper class to have an average i.q. of one hundred twenty one hundred for the middle class and id for the working class to me this was like a twin study to support it we then found out he made up about seventy of these hundred twins it was all fraud like almost everything else and the reality is social structure is locked down with people at the bottom of the system and make an incredible struggle to get up and you get the upper class you want necessarily all that broad get the you know a trip from paper to running westminster it isn't brains then it's like a law making poor the poor have different ways to break through the ceiling the artificial ceiling in america you know you have sports. way you know basketball for example has been a way for black americans to break through the oppression of racism and financial
degradation in cata have spent a lot of time can well i saki in cat and comedy to some degree here in the u.k. of rock n roll the me the was on the border to a poor boy do but to play in a rock roll band so that those but now you're from australia i'm just curious if anything aside from growing foster's beer is there anything over there though she were as much of a bubble economy is this part of the planet is so the main way to buy housing real estate what should go up and have debt driving it behind there and think you're a genius so this financialization of the global economy is something that guys like paul krugman of the york times think is great because there's no such thing as debt that doesn't matter any president is there at present and there's no consequence is ever in your thoughts that's the deadly thing i mean that particular paper we went across for the secular stagnation argument from. from larry summers he actually said some only you don't build up bad consequences for the future now the reality is when you take a look at what drives us that process on it's rausing levels of debt and you've got to pay the debt back back to banks not towards other individuals and that also
means that bubble has to. get other possible fallout from low interest rates we have an amazing degree of larceny embezzlement malfeasance here in the u.k. this past few weeks has been the star turn of royal bank of scotland they've recently been caught targeting individuals and companies for debt. eugenics i mean they're they're they're almost they've got almost the whole program in place but isn't that rather a negative consequence of cheap money is that rewards criminality well because it's a cheap money i mean you would have to drive writes down because i saw the debt bubble coming and so they're going to be conned cope with that level of debt servicing you've got to reduce or for that reason but the double consequence of that is these are the people who are in the finance sector over here in the politicians with them they expect to get you know six to eight percent returns perenna above the right of inflation and if the economy is growing up less than one
percent they've got to do that in a parasitic why and one way they can do it is by the sort of stuff you're talking about the role bank of scotland targeting businesses sending them and getting their assets selling for profit coming out ahead it's piracy parasitic behavior of the financial sector on the real. when the bubbles driving up now the bubbles run out of the stream because of the sheer level of debt that's being accumulated it truly can be parasitic behavior it sounds like communism the old days where we had if we had to generate a certain number of tractors comrade the poor must be fed and that we are with must be higher now and as a result they introduced pogroms that were slaughtered people to meet their targets were already statistically milder bases there in the u.k. to meet certain educational standards they have targets for testing and things like this when. did you caving or making the population dumb and then boris johnson will come along and say well you're dumb that's why you're poor and they'll take more money but this targeting of economic numbers and then making their assumptions fit
the target yeah that has no bearing on the real economy that's the thing i mean i'm . a fan of the innovative side of capitalism somebody said that innovative to cross over the currency go to balance it with the state sector to some degree but the thing that i find infuriating is what i call the bureaucrats. and these people. you're crazy and then you get to the point soget some of the objectives they set and so on and they end up startling the innovative side of capitalism while not giving you the sort of balancing you want the site to do at the same time and also the bureaucracy is running universities these days and degrading innovative research with a con handle people didn't fit inside their boxes you see it was getting of education and yeah and it really does feel like you've actually got you know chairman mao in control of joseph stalin supposedly being champions of capitalism now let's talk about this idea you just mentioned a mixed economy or
a balanced economy or having the state involved economically at some times or some sectors and having private markets and private enterprise involved really in a more balanced but it seems. that this is a really difficult balance to strike because of the ideological forces on both sides point statists own the megaphone they own the media and they broadcast their message of state control in the times it becomes in the us and at times is free markets rule above and beyond that in arco capitalists if they have that group of ideological stalwarts how is there an example you can him of a balanced economy either inus in history or in the current global economy or is it is it a balance that is just too utopian vision that we really can ever expect ever happen yeah i mean it is something that i think you could say america in the
fifty's and sixty's had that sort of balance but a lot of it was paranoid about the russians and that paranoia about the russians meant two things first of all the huge expenditure that i did which then gave you know tremendous boost to innovation in american capitalism as well. but you also had the there and they couldn't let the workers' wages fall too low because if workers wages were to low russia would stop to look attractive with the audiologist's a very instant place to again so you're saying that because during the thirty's of course and i said a lot of people had to russia yeah there was a communism was was a factor in the u.s. politics joseph mccarthy and other people politically rise up and there was a whole effort to deal with communism you know on american soil but the wages at that time and the promise of socialism and communism was attractive to force people to other countries today in america the wages in here the u.k.
are virtually at a complete standstill and grown at all really for decades and purchasing power is collapsing they get no return on savings but there's no country to go to because every single country the world is guided by some structural bank so they're all. all the countries of the world have now adopted this psycho paul krugman as print money to die debt is great wages are terrible and wouldn't make sense. it is that how do you get around the blunt force trauma of a pro statist argument that in fact minimum wage and wages need to go up well i mean who's going to come out in defense here is saying is once wages to rise in america as well and i think what we capitalised in the fifty's and sixty's was forest capitalism we're poor actually bumped up the wages he paid was workers so that they could afford to buy the cars they're producing on the production line and you had this belief that both profits and wages had to it's on and that's healthy capitalism but we're going to crush this predatory capitalism with firms try to
relocate their production to cheap wages so and they try to sell back to high wage countries does not work it works the individual firm but it brings down the wife's levels over there certainly is this now we're in a very simple graphic here we got a couple minutes left here is the central bank and the money is being printed and it flows off the central bank like the water coming from the source of the nile and it can go in one of two places or both places it can go toward banks to speculate it can go toward workers in the form of wages these days due to financial engineering that seems to have been an irrigation project where only goes to speculators who get the cheap money and it doesn't go to workers so my question is this. the solution is either pay allow wages to rise in some commensurate ratio to the money supply that's going to bankers or b you
must raise interest rates to get rid of zombie banks but we have instead the worst possible situation where the zombie banks get the cheap money and workers get nothing and that the worst of all possible worlds worst of all possible worlds i mean if there was the way the way the reserve is set up its money goes to the banks because of the reserves they don't give the money to the public but there was a section and i mean was such and thirteen point three of the federal reserve act that allowed them to give money to the workers directly which one would be part of what i call a modern jubilate structure and that was abolished by the banks with the. what's the new act called not there was one the sort of brought back parts of last eagle that's how it was portrayed but a specific part of the legislation got rid of the capacity of the fed reserve to actually give the money to the public and the banks lobbied for that so it wasn't one of these recent like the. old franc that was probably hidden in the tub chicks so that they got rid of that particular day of the laws of a section what section thirteen point three they gave the they got rid of it they gave who the right to what the gave that they the federal reserve the right with
a majority vote to direct the money to the public rather than to the bank they have that right they had that right and they abolished it under dog frank even though the now obviously and so in other words an article has to go. they got rid of they make a scene speculating illegal commodity futures modernization act yeah and here they balazs another function of the fed a clue to let them do something good while you're talking about what a bunch of stars oh no this is quite revealing it's still the political financial complex and i said we've got to get rid of them all so what are you doing here in the u.k. anyway. talking a whole bunch of rebel student rebels and oxford rebels in manchester and meeting up with terry jones and talking about your story madea i thought he had a great turn and last night is producing a documentary are you when the reunion concert oh it will be over by konstanz spam well fair enough all right steve king we'll have to leave it there thanks so much for being on the kaiser report the lot of max and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank
our guest debt deflation dot com if you'd like to get in touch tweet us a kaiser report by oh. i was thinking somehow i have to come back because mom was waiting for me. i just knew that everything would be fine for some reason we were so confident because we were going to get married after he came back how could he not come back because the mere thought of it never crossed her mind. when the militants decided to try and break through. screaming. the explosion blew them all run his back to the rule. and it was all over all of us
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quite often in countries rich in natural resources are the poorest africa's a colony it's a colony of the big corporations it's a colony of someone's home leaders who are under the thumbs of the big corporations so they have to beg from the world bank's development of social programs goes to pay back debts whole country is drowning under the amount of debt that they did and
so every year they would borrow money. and they would use that same amount of money to pay back oh that's. all that money really. the wages of debt. wealthy british style it's time to write. markets why not. find out what's really happening to the global economy is a report on do you think that you as a representative. government and government in general could achieve dad easing off live for the palestinian people. the way big communicate through the way the present themselves to do want to caribbean it can. we need we need respect to live from knowing the kind of government's good and to
recognize this government which recollected a from the people actually in the prison today from the palestinian people themselves respect of what china says respect i what i would believe someone needs someone runs. right from the street. first street. and i think the church. on the reformers. instead. of the in the.
i'm. anti fracking rage in romania clashes erupted between police and locals who are furious at the prospect of american energy giant chevron drilling for shale gas in nearby we report from the scene of the violence. did see several arrests some people had been injured they were taken out in the medical bans we don't know exactly how many and again it's a tense tense environment the. european politicians for oil on the flames of the protests in ukraine as they reiterate their support for the crowds anti-government sentiment. that the world continues to grieve over the death of nelson mandela r t looks at south africa's future and how dark shadows from the.