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tv   Keiser Report  RT  March 13, 2021 7:30am-8:01am EST

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99 remember the 2008 crisis was kind of kicked off by the sub prime crisis and remember that was wall street repackaging subprime loans with good debt and selling it off as packaged products to hedge funds and pension funds and they did it so much and so hard for so long that it eventually blew up and it gave us the global financial crisis of 2008 and we said you know they're not going to change anything they're just going to give them a bigger credit line and 1012 years later we're going to be the exact same thing happen again but much worse so here we are in 2021 once again housing is a huge problem because of all the money printing that's gone into the economy we have now rampant speculation in homes and this means that for average people homes are becoming unaffordable so add that to the average person health care is an affordable for the average person education is an affordable and you have this picture that tells us that all this money printing is causing inflation which is a tax on the average person and because of the can't sell the fact. it
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enriches those people who live near the central bank where they do all the money printing those people are insensitive to the needs of the average person who is getting crushed by inflation and people say well what are you talking about. there is no inflation the government doesn't include housing the government doesn't include education or health care it's a lie yes let's look at this data because it's a lot different from 2005 to 2007 housing bubble they crashed they were giving out loans high amount of leverage to people who couldn't afford it now you have a lot of people who can't afford it because there's a lot of money printing say had 5 trillion dollars pumped into the economy last year 25 percent increase in the money supply and mostly went to those who had assets who were close to the fed so you're in san francisco you're in los angeles you're in new york you're in d.c.
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you're getting the money 1st you've got here getting huge surge of of wealth look at jeff bezos or or even mosque how many truly hundreds of billions of dollars they earned earned from paper last year so you're seeing a lot of people who are able to buy many homes or upsize or keep their place in manhattan or the cities and there are x. sitting there buying places out in florida or texas or north carolina so there's a huge demand for properties and so you're seeing a calls and the media and the calls from the blue check twitter are that we have to do something we have to send people $1400.00 we have to send them $600.00 we have to get them $600.00 extra week a lot of that is just being sprayed it's to people who are already working the article here in bloomberg points out that a lot of these people are working from home for like a google they're ready you know they're making close at the top of that range they were getting a lot of money extra money and they're pouring into property but as you. you'll see
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in this next paragraph that i'm going to read it's it's causing long term damage and long term wealth destruction to the poor it all threatens to freeze brod sways of the population out of the market leaving millions of americans and a less secure financial position i am going to stop for that sentence less secure financial position so you'll get paraded and called all sorts of names on twitter by blue check twitter if you say that this is going to cause inflation they're saying that you're some sort of horrible person that doesn't want to send this person money you're like you're putting them in a less secure financial position that's a horrible place to be right why didn't the racial wealth gap and forcing the millennial already lagging previous generations of building wealth and farming families to fall even further behind quote the dream of homeownership is out of reach for so many working people said senate banking chair sherrod brown rising
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home prices and flat wages mean that many families especially families of color may never be able to afford their 1st home they make a good point contrasting 2008 and today in the housing market and in the 2008 crisis the subprime a sexily people owned their homes to begin when they were fraudulent induced to take on huge mortgages which then they couldn't pay letter line of credit off their he locked. the home equity loan and when they couldn't pay it and if there were fraudulent land dues to take these loans those houses were lost and that's how warren buffett became one of the biggest landlords in america today he's the he ended up with all of those homes now that those homes are in the product possession of private equity groups like warren buffett the 2021 variant of a housing crisis is to pump money into the economy so that all the assets held on the balance sheet of warren buffett and other banks go up in value and the people that lost
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a lot of wealth in 2008 the rally people of color are. now getting raked over the coals again through disinflationary pass their assets again remember because it is on confiscated will i say that to the folks of color because it's one of the only assets they can have that people like warren buffett can steal right and you see again the rhetoric in the cable news on on twitter blew check twitter is that they'll be talking ever more about how anti-racist they are and yet their policies themselves what they're actually doing have racist results they're excluding as sherrod brown points out black families from owning homes and then cut to another thing that almost passed with this and yet another $1.00 trillion dollars stimulus bill and just like a couple 100000000000 goes to people in the stimulus everything else is like all sorts of boondoggles of course like 1.4 trillion is to all these corporations and cities and towns in place like that but they you know the democrats are also trying
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to get through at the same time they're saying we care about people look how good we are where we support $1400.00 to individuals even if it's going to cost them a whole lot more in the long term right just like sending their jobs to china reduced their grocery bill and their goods you know their child's school school clothing by 20 percent their wages by 60 percent and their long term job prospects by even further well here is something that the democrats want to get through the same people in cable news the same people who are blue check twitter who tell everybody else that they're racist even though they're the ones that keep on supporting that implementing and creating racist policies cap repeal unlikely to be added to 1900 relief bill so the democrats are trying to get this all the people of manhattan of california want this bill back because trump repealed this assault hopes among millions of upper middle and middle class taxpayers for a repeal of the trumpet ministrations limits on their federal deductions will
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likely be on hold for now as an effort to. include the measure in the covert $908.00 package is poised to fail the house ways and means committee is slated to clear the tax portions of president biden stimulus legislation calls by some new jersey democrats to repeal the $10000.00 cap and state and local tax or salt right off of the gone unheeded in the legislations so far just so you understand like the people who benefit most from these tax write offs the salton write offs about 52 percent of the benefit from repealing the cap flows to households earning at least $1000000.00 a year so it's the very top those earning a $1000000.00 and more like most likely to vote democrat most likely to be like hillary supporters so they're also the ones shouting the loudest and telling everybody else i just think it's psychological projection they feel guilty for all of their actual policies that are in fact indeed racist they're the ones causing these
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a low tax take that thus there's less money for housing and urban development for example or or public housing because of the salt deductions and at the same time they're all for printing more more money because for every dollar that goes to stimulus for the people collecting $1400.00 well $10.00 goes to their corporation. it's so win win situation but they get the loudest megaphone to tell everybody else you're the ones doing this like you're the ones causing these racist out counts when it's like their system is the one that is horrible and unfair yeah it's really humorous that these blue chick. on the in the new york area are not getting the relief on the salt that they were hoping for when they were voting in 2020 you know there was a lot of pigeon chested puffy puffy proud moment of the blue checks about the 2020 election and i think it was either newsweek our time they ran
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a cause. carver story kind of celebrating how they had to take extraordinary measures in the 2020 alexion rank way and that's all because they figured they could get their tax breaks back and they felt the urge and see the like when you don't tax breaks and now it turns out they're not going to get their tax breaks back jokes at least for this year of course they have next year before the midterms to pass the sol thing. or even like there might be there will probably be more stimulus packages going through this year in terms of what the amount that wealthy people 50 percent of the salt adoption benefits those earning a $1000000.00 or more that would have been $88700000000.00 they got to keep this year instead of paying towards taxes that are thus going toward stimulus packages so they have the megaphone of being the elite media and their elite think tankers
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and stuff like that and saying everybody we need big stimulus we need huge stimulus we need big stimulus we ourselves want a tax break ok we want to pay $88700000000.00 last to all those people were telling you to help write of course that's the bottom model right donna gets to you know use all sorts of tax loopholes to ireland and netherlands for his copyright and then tell everybody else hey let's go save the world and pay more in taxes which is fine if we all agree on it but if you're the $1.00 pushing it but you should also support it the site the tax rate that you pay if you're a just a tax or a. yes right so everyone's in a certain tax bracket but not everyone has the same ability to just their taxes so we know that there are millions of americans and corporations who adjusted their tax rate to 0 i'm just thinking general electric i remember
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a couple years ago they filed 870000 pay. tax return and not only did they not pay tax they got a tax credit of course also 5 as a property developer that's why you go into property to have tax write offs deductions for you know depreciation. that's all engineering the office where the banks are and that's not the same place where the people of color are living so it's what i call interest rate a part in it systemic racism for sure through the banking system we're going to take a break and when we come back much more coming your way. soon . i know that i'm a lot more trouble rather runs across the board here the. only
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. question then you can keep an. eye on through the channel for. its whole food place. and pay on time in theory this is. a model for the little fuck around mr hates it for a gentleman and lawyer for folks that are in the. so what we've got to do is identify the threats that we have it's crazy. let it be
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an arms race. theory dramatic development it only really exists i don't see how that strategy will be successful very. time to sit down and talk. tactics that can be used to get innocent people to confess to crimes they didn't commit i don't even think people in the us really get that the police are allowed to lie to the person who falsely fast actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed and nobody really can tell the difference between a good confession and one that isn't. the trouble with donald trump is that he exploited entirely the counter and. was much
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more successful than hillary clinton it appealing to people on the level of. national identity and all that sort of thing. as demagogues human history here exploited emotion specially emotions like fear and hatred and resentment to serve only his own interests not the interests of the nation at large. welcome back to the kaiser report imax keyser time now to go to paddy lowe a is the man behind 0 petroleum he's got a background as a formula one engineer with the likes of williams' race saying mclaren mercedes working with akon in the lewis hamilton and he joins us now to talk about 0 petroleum batty welcome thank you thank you man now the white paper which i have
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a copy of right here look this is a. 0 petroleum it's called petros cent the success the completion of the industrial revolution elaborate on this what is petro sent us this is a term that i have coined myself because i don't think there is a term at the moment. if we look at the current sort of situation in human development with where in you know we had the industrial revolution but actually if you look really big picture. you know i don't care how far you want to jump you know let's say a 1000 years we won't have fossil fuels anymore you know they die they will either run out or we won't manage it with the climate which is the current current crisis or anyway they'll just become too expensive to extract i'm already seeing that that renewable electricity is actually in the u.k. cheaper to be to set up
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a power station than for traditional process so the process is already starting so 8 in the long term we will synthesize all of our petroleum from it in the same way that happens in biology. so we've only really done the 1st half which is the consuming part so we can see more of these hydrocarbons in all of our machines and engines. that gives us our current standard of living but it's a linear system so you know linear systems they may run out on the inputs and they create problems only now which is why storing current moment carbon dioxide so what we're going to do is make petroleum from scratch in the same way that. you would do to. store the horse the same chemistry actually and that buys in an industry that will be in the next one to 200 years and it doesn't have
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a name at the moment sequence of photosynthesis but an industry so given this new 9 patch a synthesis photo sent the says you know i've been reading some of your stuff you know you talk about how it creates kind of a perfect balance between carbon and oxygen that is used obviously by living organisms on planet earth the sunlight hits the green leaf photosynthesis occurs and carbon is transformed and dirt from the industrial revolution forward that balance has been disrupted disrupted to the point of dire circumstances so it's not that we are saying that carbon is bad we're just saying that there's going to run out of an appropriate amount of oxygen. to to sustain life you know that's the problem the problem is no more oxygen has been crowded out so. so
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therefore there is an end analog what petro synthesis so i guess you got to get into this a little bit about the petro synthesis of what exactly is happening at the point of petro synthesis what's go. now there in general and i know it's not specifically about what we do in 0 charlie but in general what you're saying you since it is rather than digging process that was out on the ground which are legacy photo. you know. we're going to make those hard you carbons from carbon dioxide coming out of the atmosphere. and from the energy from the sun and we will produce oxygen and the hydrocarbon as a fuel or a plastic whatever precursor we need and so that's the general process of of the senses which which balances with our consumption and 00 hydrocarbons that we do in the moment there is
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a balancing that's going on between the creation of the petroleum synthetic petroleum and oxygen so there is a bike rack there so there's a there's a the process is attempting to right a balance in the ecosystem where you've got now represent you got a petro center says and so oxygen is also being created at the same 3 you know we look at nature has been in balance for hundreds of millions of years and through this chemistry which we call the carbon cycle and what we need to do you want to carry on with our current civilization is to recreate that same balance but on an industrial level so we've done the burning big and we need to make the bit that creates these fuels and these plastics and all these materials that we consume pharmaceuticals etc so you're right it's about you know what we do in a in patches since this is affectively a forest in a factory it will create oxygen it will create the hydrocarbons taking carbon
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dioxide out of the air you have a background where formula one racing and any of you had a spectacular career their engine on the engineering side so petrus. the says comes out of basically your love for engineering and then you also know it spells at least you see the ecosystem essentially as a as an act of engineering sounds like mosque seems to think that everything is engineering and he can go to mars based on his idea that everything is basically just engineering is great you put it like that max because that you know doing let's say new fields new energy can be seen as you know i'm absolutely not an environmentalist i'm an engineer and you know all of these problems will be solved by engineering so yeah since this and synthetic petroleum which we're doing in 0 petroleum is an engineering challenge which we will meet. and that does
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excite me you know i've spent my year my my career and my life really you know burning fossil fuels either for work or for leisure you know and we all enjoy and one of the messages around environmental is amused everything we do is that you know we're going to stop doing it you know stop flying stop eating meat stop you know and 1st very 1st of all s. not going to happen you know people just aren't going to stop doing or stuff and anyways not the answer i mean even if you reduce it doesn't solve the problem you need she need to engineer proper solutions and week we can do we know how to do it all problem at the moment is only around economics really because faso energy is so cheap and we need to develop the technology to to come along side and meet that what is happening as a said with the electricity already you know cheaper to build
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a power station in renewable was there and then with coal gas i said recall a project from not too long ago or microbes are eating c wade and the byproduct there's been there's that ring a bell or did they dream that you know you didn't that's code. 3rd generation biofuels so that's an alkie process. so we've had 1st generation which is what happens in brazil they made sugarcane to make ethanol. now people are saying that's bad because you know you're putting pressure on farmland which is totally true 2nd generation is to use the waste let's say the husks from one of a very very difficult. because it's so sunny los it doesn't break down the 3rd generation is this alkie you're right but unfortunately none of those systems will scale the degree to which we consume energy coming out of the ground at the moment in the in the form of fossils is just colossal you know globally and and putting
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nature on the line to make up for that just you know it's firstly it's not really sticking just basic numbers just doesn't compute and secondly it's completely unfair you know to expect biology to suddenly pick up the reins from all of our consumption so let's talk about scaling and 0 petroleum typically scaling there are 2 constraints one is capital and the 2nd scaling. issue would get into the specifics of the enterprise itself so on on the capital side we can talk about that but i'm more interested on the kind of the other side of the equation what where do you find bottlenecks in your process of scaling is a tough to source some of the you know how it works how does it scale in other words this is like i can understand how a software company scales they add more servers you know right and i understand scaling in many contexts how does this scale you're right it is very capital
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intensive because you've got to scale the energy creation in the renewal that has to you and you go to scale the plant which which process is the energy. you know something to build it. it is very. compatible with renewable power and this is where the range thing link up to the big question actually funnily enough because. in order to make synthetic gasoline which is what we're going to do you need a lot of electricity but most of your your cost is in the renewable electricity and renewable letters to he is great but it's it's highly intermittent it's not poor to bo it's not easy to store. and this is where the making few is freight it can work instead synergistically because you can make fuel when there's too much renewable power when it's sunny and windy and you can store some of that
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either for use as petroleum directly or to go back to run power stations when there's no wind no sun. and actually to me bitcoin mining works in a in it's a very similar model actually and you know we've seen a lot of criticism of bitcoin prince consumption of energy but for me that's an old mindset because. the that the conversation is about carbon emissions but reality in the future the grid will be entirely for so free. and so that for was a way to get there we have to manage this problem of variability in the supply and bitcoin is actually as a mining exercise is is just like making gasoline synthetically it will go where the power is is abundant and in excess. so i mean that might be on
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a seasonal basis going north south or it might be on a daily basis going to east west so you know you go to where the power is cheapest to either make. it to mind. make synthetic if you. saw this there's quite an on again right you go where the where the energy is cheap best and this ends up being environmentally a great environmental boost because some of the environmental problems with energy are in transporting energy and through the pipelines and the fact that energy and electricity degrade over certain periods of time so that's a good credit a loss of energy a gas flaring by natural gas and oil exploration is now being captured by bitcoin miners in the converted into bitcoin and you're talking about an again and from an engineering perspective. a energy hydrocarbon burning
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substitution which has the added benefit of lowering the cost of bitcoin mining so it's all for france asdic i'm going to look through the white paper in great detail now and want to follow up and see how this is going patty thanks for being on the kaiser report thank you very much not the great measure all right that's going to do it for this edition of the kaiser report was made back kaiser stacy herbert like this i guess patti labelle of 0 petroleum until next time by all . the trouble with donald trump is that he exploited entirely the counter lightman legacy was much more successful than hillary clinton is appealing to people on the level of culture and heart and national identity and all it sort of thing. but as
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with demagogues throughout human history he exploited emotion especially dark emotions like fear and hatred and resentment to serve only his own interests not the interests of the nation at large. but a pandemic no certainly no borders and just bought into nationalities. has emerged we don't come with the we don't look like seeing the whole world needs to be. judged as commentary prices please this time to time so we can do better we should. everyone is contributing way but we also know that this crisis will not go on
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forever the challenges create the response has been so many good people are helping us. it makes us feel very proud that we are in it together. some control for a middle class the homeless of the night most of them are very hardworking people who want to get ahead that either have some some health issues or have some of it out of stricken bad luck a full time job won't always pay for a place to live and missing just a month's rent can get she was a victim to gunpoint if anything bad happens to any thing that just throws your budget off slightly. you better catch up real quick or you're going to have a judgment of possession against you and get addicted anyone that's homeless is history like garbage people look at you like a monster or someone bad or you chose to be there most of the time it's not the
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case see how it is to be pull in the world's richest country. the headline. medical experts divided author a german doctor is criminally charged for inventing his own job and giving it to volunteers. there are certain procedures that we normally follow when developing drugs and vaccines those procedures were not followed he was just genius. and. instead of taking him into his approach. and. long lines form outside of london food bank as many families struggle to feed themselves amid the ongoing pandemic. and the 1st generation the 5 g. mobile network is popular gathering spots here in the russian capital so we tested out.


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