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tv   [untitled]    September 28, 2010 7:30am-8:00am EDT

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operations for wal-mart speaking at goldman sachs's retail conference i don't need to tell you that our customer remains challenge to you need not go farther than one of our stores on midnight at the end of the month about eleven pm customers start to come in and shop fill their grocery basket with basic items baby formula milk bread eggs and continue to shop and mill about the store until midnight when government electronic benefits cards get activated and then the checkout starts and our sales for those first few hours on the first of the month are substantially and significantly higher. so yeah out wall mart of course is america's company's store like they used to have plantations of old and the company's store wal-mart of course is done more to destroy the economy in america than any corporation they employ more people in america than any corporation they under paid these people and now they're being pushed onto reservations like the indians from one hundred fifty
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years ago these are the new they shouldn't create a tribe of indians in america called the wal mart a coil well also this is the showing the extent of the poverty everybody asked like if this is a as bad as the great depression where are the bread lines now these are people receiving electronic benefits cards which are food stamps given in a credit card like thing and these are people waiting to feed their babies is baby formula i mean this is ongoing sort of catastrophe but to give the wall more mccoy's indians to carry their big going to get the baby feeding at the midnight stroke well according to charlie monger oh no not charlie monger that two hundred thirtieth richest man in america partners to warren buffett the richest man in america monger says thank god bailouts came before handouts yes this is charlie munger who is eighty six year old partner to warren buffett and he was speaking at the university of michigan on september fourteenth i think those b.o.h. were absolutely required. if you talk about. but well it's for everyone the old
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there comes a place if you just start bailing out all the individuals who still want to adapt you go to new people suck up to them cope buddy so i got him cope but a lot of people and them are charlie munger before and they don't know the story when warren buffett first got to omaha and to set up berkshire hathaway he saw a bum sleeping on a bench across the street and a game of jobs leaping the floor at berkshire hathaway and in payment cash you paid him in stock so charlie munger is now the richest floor sweeper in america so he's telling these people that this they should just suck it up and this is great for them but in regards to the issue of bailing out bankers such as himself i remember berkshire hathaway is one of the largest shareholders of wealth fargo and which bought well kovi have merged with well cobia and these received massive taxpayer subsidies far more than those people lining up at wal-mart at midnight to buy baby
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formula so here is a man who says following up on that whether or not we should have bailed out the bankers if the economy with a lot of misery disruption destroyed the currency. knows what happens so i think when you've got troubles like that you shouldn't be bitching about a little below. you should have been better he suggesting that there could have been another hitler if you didn't bail out us remember you are as you mentioned like tovia. by wells fargo biggest shareholder is warren buffett and charlie munger they recently paid a multi hundred million dollars fine for money laundering for mexican drug cartels so there is charlie munger. has been found by exist by extension to be money laundering for mexican drug cartels and that's his only source of income least the richest floor sweeper in america these were buffets special friend down there at omaha nebraska and he's lecturing folks on why oh they should suck it up and get
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a job hey charlie i got news for you buddy why don't you take that pipe out of your mouth and start working for a living yourself you degenerate slob well of course he also warned that if you don't help out bankers we could have a situation like the one nine hundred thirty s. in the rise of a hitler who supported hitler in the thirty's i.b.m. coca-cola j.p. morgan and the people i call the monger buffett a real job jolie monger well to his benefit ok let's look at the mitigating factor here he is eighty six and this takes me to my next headline dimentia cost to top one percent of g.d.p. so this is the world out from a report and they say that the costs associated with dementia will amount to more than one percent of the world's gross domestic product this year at six hundred four billion dollars that's right the six hundred billion number to be cut in half by just simply retiring charlie munger and warren buffett you'd save three hundred billion a year in dementia related costs and the other thing is he said god was to thank
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for the bailout oh sorry i went to some of analog i'm sure that a trade of course that one's a financial terrorist weapons of mass to final and destruction as buffett himself copped to a lot of bankers seem to be appealing to god as their sort of excuse for their acts lloyd blankfein from goldman sachs also did the same but here's another headline the vatican bank facing. money laundering probe just won the catholic church didn't need another scandal tahlia authorities have seized twenty three million euros in the case alleging that their senior officials have been money laundering yeah and was that a shock. well i don't know the vatican get so rich i mean they haven't performed a legitimate miracle in two thousand years so all that pomp and circumstance and gilded gold leaf surrounding that massive real estate ponzi scheme is gonna come from somewhere well the vatican said that it was perplexed and surprised by the investigation which is a classic that's like hank paulson as the markets collapse he who engineered much
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of the c.d.o. collapse and subprime mortgage fraud saying he was perplexed and surprised and had no idea what was going on monday lloyd blankfein the pope monger and buffett should start a new edge phone and call dimension incorporated and they only invest in companies to benefit from this rise in dimension which would include of course wal-mart the leaders of which believe that by having people line up a midnight for baby formula and some new reservation constructed prison casino golaghat is a worthwhile business model as buffett who's an authority has money laundering drug traffic supporter monger who is the richest floor sweeper in american history and lloyd blankfein who hears voices down there goldman sachs he's doing god's work doing the work of schmucks so we have this building of this sort of. monarchy in america where these people are just openly taunting the peasant population saying let them eat cake we deserve all of this divine bounty because we are divine
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ourselves god is the one giving us these bailouts whether it's lloyd blankfein or charlie munger stating this so it takes me to this headline a new chance for new work failing school system to get one hundred million dollars from facebook founders dr berg so the state is collapsed. and there is no the taxpayer is only there for the divine rights of these wall street oligarchs and the c.e.o. titans and here they have to rely on the randomness of one of these all the dark space though in upon them some funds for their own education well i mean facebook gogol they exist because of the people subsidize their existence through the creation of darpa now one of the people got back from that fortune the facebook fortune the google fortune the apple fortune all the digital rights management technology the steve jobs stows upon the public domain in a draconian method of bleeding and bleaching the intellectual integrity out of that
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society for a quick buck what are they giving back cash wise the big goose egg the big zero burgers just another the next generation of plutocrat want to be aristocratic mino futile. shmucks well use this term again because it sounds so good chicago's and you know if it weren't for the taxpayer subsidizing their existence they would not exist so this is a farce that the only way that these school systems can get money to survive is the largest of these potentates that recreated completely by fear due to political collections market manipulation insider trading and it is down to brass at all mana brasco who feed them prey on the poor helpless society by draining them of all their financial integrity with weapons of mass financial destruction so it made it but i might also add that bill gates is also heavily invested in education and
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therefore warren buffett who is now given billions of dollars to bill gates to disburse so there is this all of darkie creating their own class of peasants there providing the education for their own pool of people who support these particular laurier the moment a bill gates is the entire fortune he's the richest man in america fifty four billion dollars according to forbes that's tired entirely created through abuse of the copyright system where they keep extending coppery every twenty years disney and microsoft in a way that's given the america a collective intellectual a bottom e no wonder the average i.q. in america is plummeting and where they can't come with any new ideas to solve the problems and what are they elected dunderhead like manchurian candidate obama to be president because all the good ideas a locked up on corporate balance sheets over there at microsoft and disney and apple and meanwhile the bad ideas like hey i think i'll go rob somebody those ideas are allowed to roam free so it gets kleptocracy a cocker seeing a cock a stocker see led by weapons of mass financial destruction willing psychopaths and
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sociopaths like charlie frick and floor sweeper do nothing monger and his best friend who is good friend warren buffett and then finally let's move on to the other monarchy from which these all bloom and that is the british my. anarchy revealed the secret deal that changed the monarchy so the sovereigns debt crisis sparked two thousand and six agreement surrendering ultimate financial autonomy so this is the sovereign the queen of england having her own private debt crisis where she needed to borrow two million pounds from the government and this has given them the authority to basically dictate what she spends her money on but there is a one quote in this article that really makes me think of charlie monger ever since charles the first paid with his head for his attempt to impose on a fearful parliament the notion that a king's power came direct from god the english monarchy has fought
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a losing battle for control of the nation and its own finances. with osama you die like osama think about it joy monger all right thanks so much stacey member for being on the kaiser report thank you max so don't go away much more right after this.
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welcome back to the kaiser report all right let's go to washington d.c. so what sports writer dave zirin author of bad sports how owners are ruining the games we love a book that exposes the multi billion dollar sports industrial complex racket dave welcome to the kaiser report great to be here thank you all right first i got to ask you this george steinbrenner recently passed away and they are vail the monument and yankee stadium twice as big as the monument to babe ruth what's that all about that's about george steinbrenner being able to push through a one point five billion dollar new stadium that is largely funded with public dollars and so it's their tribute to george steinbrenner to supplying roughly eight hundred fifty million dollars in public funds and public money to be able to build that stadium steinbrenner is a bridge between the old era of paternalistic owners who cared about their cities and this new era that keeps score on the basis of how much money can you get for
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municipality how many political favors can you cash in and also acting like you know more than everybody else in the room because you're the person with the biggest check it's not that owners way back when were somehow nicer people and they visited kids in hospitals and gave wily pops to street urchins or anything like that but back then owners were accountable to the question of how many tickets do you sell that's how you determined whether or not your franchise was financially viable if you sold one million or two million tickets that determined your profit margin today fans are not just secondary or tertiary they're they're at the bottom of the. list when a team assesses whether or not it's making serious serious money i mean what's made sports a license to print money basically or owning a sports franchise is how much public dollars you get from the local municipality whether or not you have a sweetheart cable deal and how many luxury boxes or p.s. cells or personalize seat licenses your stadium can hold that's what determines how
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many millions of dollars or billions of dollars you have in the bank and the fan has been forgotten right so this is very analogous to what's going on in other parts of the economy as well so on wall street for example the people who are actually paying taxes and doing the hard work that are no longer important to the economy because the fund managers of the banks on wall street can borrow in the wholesale markets and they could engage in derivatives transactions and create markets out of thin air so the actual hard working saving person of supplying the capital is now no longer important to the economy they're being abandoned the difference with sports also is that i think we feel a tremendous sense of ownership over our teams i mean we view our sports teams as family heirlooms that we want to pass down to our kids and hopefully our kids will pass it down to their kids which is a little different from how we view wall street but the wall street analogy also works in that so much of the wall street mentality now is about short term profit
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over a long term stability and in sports yes they're making money hand over fist with sweetheart cable deals public money and all the rest of it but they are sacrificing the long term health of their product right and the statistics you know a vital part of baseball are totally skewed because of steroid use so the homerun king is using steroids just like banks on wall street are using these subsidies from the government to goose earnings again there's a comparison there are completely artificial see the interesting thing about steroids too is i have a whole chapter about steroids in the book. is that owners were either been minute malignantly processing the myriad when steroids got in a locker rooms or at best they've been nightly neglected as players started to resemble professional wrestlers and there was an incentive to do both to either ignore the problem or facilitate it because of
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a very simple reason and it's it was cable money i mean when a homerun started to go out of the park the ratings went up on basic cable and cable services and you look at the statistics it's unbelievable like baseball went from having a t.v. contract that ran roughly five hundred sixty million dollars to after the big home run chases in the late ninety's they were selling the playoff rights alone for two point four billion dollars you know just the playoffs not even the whole package so there was a massive financial incentive to say the heck with the record books the heck with the numbers the heck with the hallowed statistics we want to see dinner's we want to see the long ball and this is gone global dave zirin let's talk a little bit about the crisis of the commonwealth games in new delhi india did the context that you put out the sports industrial complex talk on this a little bit what's interesting about this is that you're seeing
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a trend right now in a lot of these international sporting events going to the so-called bric countries that means brazil russia india china because it's felt that these countries are willing to spend billions of dollars for the prestige and also willing to suppress the local populous to a degree that europe or the united states just simply will not do but what you're seeing in india is that even with their willingness to spend two point four billion dollars and capital expenditures to actually get the games off the ground that's just for athletic facilities what you're seeing also is the attendant danger as they're cutting corners to be. well to make the deadline to actually do the commonwealth games couple of the recent mega sporting events the vancouver winter olympics of the world cup in south africa any news about how much debt the population has been left with oh absolutely i mean the hangover in south africa is so extreme that you're seeing public sector strikes that involve over one million
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workers across the country because basically they did debt and deficit spending to pay for what are known in south africa as the white elephants billions and bill talking billions of dollars i mean the estimates range wildly but as many as eleven billion dollars which is a lot of money in south africa on stadiums and on infrastructure and it's now going have to be paid for by the people themselves through austerity measures and south africa which has the highest capital of protests in the world they're just not putting up with it and i was in vancouver before the olympics and i was in south africa before the world cup and it was fascinating because you can imagine two more different cities than they've been coover in johannesburg and yet the complaints were exactly the same suppression of civil liberties the budget but budget busting deficit spending and and all the rest of it i mean it was a absolute horror show in both places and it says something about to me what it
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means to do these kinds of sporting events in periods of economic recession you get a hell of a collision that takes place between the desire of the government to look amazing for an international audience and try to build its taurus dollar and the people themselves in the country whose lives are disrupted at a massive scale well they put on these massive multi-billion dollar shows because they get the fees and the fees are tied to the budgets of these shoes of dance and they sacrifice the sands of can't afford to see the events the awful way the athletes are endangered but it doesn't matter because the only thing that matters are the fees same thing on wall street they push mega huge multi-billion dollar debt onto the. population for the fifty's even though it's crushing the economy and putting people out of work and what's fascinating about the commonwealth games is that for all the injustice that took place in south africa in vancouver and it was manifest the international media largely ignored it because they made the trains run on time so to speak you know the games happened without incident to the
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spectacle and therefore the injustice was largely ignored the commonwealth games are different because the games themselves are in jeopardy by a lot of the same deficit spending rushed construction job projects that have taken place historically at many a recent olympics but nobody cared for example when immigrant workers in athens died during the construction projects there no one cared in china when almost two million people were displaced in the larger beijing area to make way for the olympics because the games themselves ran largely without incident commonwealth games for getting a different kind of spotlight because the trains are not running on time there's only recently blogged about baseball's corporate crime wave tell us about the league financial statements of major league baseball first thing i understand is that baseball is allowed because of various antitrust laws and it's stature as a private business to keep its business holdings private to keep its profit margins
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private even though they get millions and millions of dollars in public subsidies they're allowed to keep private their bottom line yet their records for several teams were leaked onto the internet and now we know things that before we just suspected like the florida moral and marlins for example who had demanded tens of millions of dollars to help build actually hundreds of millions to build a new stadium we now know that they're actually they were claiming bankruptcy and that they were losing money no actually they were making about forty million dollars a year in straight profit the pittsburgh pirates which haven't had a winning team in eighteen years. and have the lowest payroll in major league baseball they put their payroll is less than alex rodriguez the third baseman for the yankees makes in a year for their entire team they've always pled poverty know and fact they're making money hand over fist and what it's done is that shown a lot of the local politicians in cities like florida and pittsburgh to either be
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incredibly stupid or incredibly criminal because for years critics have been saying well wait a minute based on some various assessments this is what we think these teams are making and the teams themselves have been saying oh what does forbes magazine know they're completely wrong we're actually making nothing or we're losing money every single game we really don't want to move the team and by the way that's another steinbrenner and tactic to threaten to move the team to say we don't want to move the team but we will if we don't get more public money and in each case they've gotten that money yeah it's amazing if i take some of your stories and i put them on top of stories of let's say matt taibbi over the drawing stone who talks about virtually identical type of tactics being used by municipalities and states all over the country to load up you know supposedly these with all these debt using crime stupidity in fraudulent accounting in much the same way so again there's a huge crossover between the bank banking industries it has infiltrated every little nook and cranny of the economy finally speaking of baseball whatever
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happened to the boycott of arizona was there some campaign to get the major league withdraw there from two thousand and eleven yet it's still ongoing i mean there have been protests over the summer at seventeen different cities and seven of seventeen different ballparks in seventeen different cities wherever the arizona diamondbacks have gone to play they've become the traveling road show of some of arizona's immigration laws which are the harshest in the country and which codify racial profiling in a way that many people in the united states find absolutely abhorrent now the rhetoric around immigration in the u.s. has shifted dramatically to the right at the at the top level of politics and i think it's a remarkable for. thing and in a lot of ways it shows the power of sports that the one place where you've seen a consistent public voice against anti immigrant scapegoating has been in front of the ballpark and it's been echoed inside the ballpark to i mean thirty different players have spoken out against arizona laws fans have dropped banners fans have storm the field and we're forcing bud seelig to have to actually say something
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about this because the idea that the two thousand and eleven all-star game the midsummer classic would be played in a city phoenix where a lot of the players families would be at risk for being pulled over in their cars i mean this is something that i don't think major league baseball can let stand now when it depends so heavily on latin american talent right and of course the response of the administration in d.c. is not to address some of the inequality that we're seeing here in the immigration policy but to criminalize boycotting i used to teach in d.c. public schools before i was a sportswriter and i would talk to these families from el salvador and they they they were the reason why they would come to the united states was because of no jobs and poverty in their home country it wasn't because they had some desire to steal jobs or healthcare from people in the u.s. so if the u.s. would do something about their trade policy that's how you address immigration not by criminalizing immigrants are that's all well then the number one contributor to
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this immigration problem is not ok if nafta didn't go through then you wouldn't have had u.s. corporations bankrupting farmers in mexico forcing people to have to go north of the border to get the money that they were stolen from them from the american agricultural companies and meat packers so thank you bill clinton i don't see how you argue with that i don't see how you argue with that i mean what you just said is statistically absolutely true people who argue against that like everybody from the clinton administration to the republican party i mean that's like arguing that the sky isn't blue thanks for being on the kaiser report oh my privilege thank you all right that's going to do it for this edition of the kaiser report was made. max keiser and stacy herbert i want to thank my guest dave zirin if you'd like to send me an email please do so at kaiser report at r t t v dot ru until next time this is max guys are saying by all.
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the mayor of moscow is fired off the eighteen years in power the president says he no longer has confidence in the capital's top box. a group of international activists on a jewish organized aid mission to blockaded gaza is forced to end its journey by israeli warships. the russian president ends a trip to china by meeting the man widely predicted to be the next leader of the people's republic. the secretive north korean leader kim jong il promotes his son general in a possible first step towards a hereditary transfer of power.
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it is good to have you with us today this is our life from russia's capital city well after an almost two decades of reign as the mayor of moscow. has been sacked by the president dmitri medvedev says he has lost confidence in the capital's controversial top official. is following the story we know from reports that the new stuff has met with some of the fish oils the where he was given the all the days that he had gone to australia about this time and for all and that's the nature of receiving his clothes now that i'm back at the mall there they say the federal level the field over these intend this is this one is by seeking for dismissal and the other one of them at the state and in this case we know that it's because of the order from the president and that is that this cop is now lost his post after eighteen years. i decided to dismiss the mayor of moscow.


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