tv Keiser Report RT July 20, 2021 7:30am-8:01am EDT
consonant policy on an account south coast. robinson for this news, i'll return with updates. i went up stories in 30 minutes. the the the news i am kaiser this is the kaiser report. you know, we ventured a new era. an era of confusion about deflation is giving way to a new era about confusion of inflation. alrighty, let's get into a stacy. yes, it's becoming a highly politicized sort of event. whether or not we want inflation and how much
inflation and this inflation is kid. but one thing you, when i have said is that, you know, the seventy's are back, we started to warn about that stagflation sort of thing in place, and prices, and of goods and services, and decline in employment number. so a rise in unemployment. well, today's covering new york city sex workers ramping and open air prostitution market amid lax enforcement. we saw that in the 7 days if you lived in manhattan, are visited, often during the 1970 or use our a lot of prostitutes in time square. yep. exactly, new york city reverting to it's 970 glory days of drug use and prostitution. because similarly, you had stag place at that time and we asked the question again now. and you had the back in the sixty's, the collapse of what was known as the nifty 50 on wall street stock market went into a swan and the seventy's which caused economic may ham. we've got
a stock market right now, which is trading near all time highs. what's missing would be a stock market collapse of 40 or 50 percent to, to really put the cherry on the, on the pi here. i think we can, i think, i think we got some broan on that front. i mean that's the interesting thing is again, max and i remember the seventy's. remember the seventy's in the arc? remember this sort of look of the 7 days of a lot of high murder rate or rising murder rate, the source a sense of chaos and all things allowed in the streets. obviously it's not as bad. the murderer aid and all that stuff there in manhattan. but one thing that is very different from that is we didn't have that high inflation, but there was no such thing. a stimulus checks and these trillions are or is being poured into the economy that did not happen at all. and in fact, while the fed,
you know, bills out everything and every, any entity the mortgage security back security the, all the whole market they're battling out at that time. back in the 7 days. remember new york min bust and the fed, i, the federal government to new york said drop dead. so now there is no such thing as that. there's that mentality is not around at all. no, he had organized labor back then he had a wage price increase. and labor had real power back in the seventy's. this is before reagan came into office and margaret factor, of course, and they crushed labor on both sides of the atlantic. and that was something that people forget is that actually be quality of life from the 7 days for workers. was that the highest and had been for quite some time. wall street was suffering, but wall street figured out how to crush the workers with financial engineering.
and now we've got a situation where the wall street can pretty much run the show and just continue to aggregate huge wealth. and workers are continuing to suffer at a precipitous rate. well, to be fair, the united states at that time, they elite the world needed the u. s. worker because the u. s. worker manufactured all the cars, manufactured all the goods and services. they're the ones that we were the big export nation at the time. since w t o sense bill clinton sense joe biden was senator, we basically exported all our jobs to china. that was, as we've covered part of the trip in dilemma. now there is another thing that's completely changed and this is the guardian newspaper like allegedly very left wing . and while they say, why does inflation worry the right so much conservative rhetoric warning of wage files is disingenuous. and it's a whole bunch of gobbledygook. and that's actually kind of like, difficult to understand, but in other words, yes, prices are up,
but so are wages. and depending on what you consume and how much debt you carry, that can be a net positive since inflation roads, the real value of debt. spoiler, that's why finance hates it really. oh yeah, yeah. finance has had such a hard time these past decade or 2. right. there's no profits there and they would totally hate this inflation. right. well, even the fed just reported that in june, wages in the united states and real terms are down about 0.5 percent. that's a fundamental point that is overlooked are misstated by the guardian article is that real wages are actually down the right is concerned about reflection. it's pointing out that we have inflation and the right is a huge beneficiary of that asset price inflation as you've been pointing out. that's how the rights been able to double and triple their network over this pandemic of covet. so that's also a misstatement by the author. number 3,
it's easy to tell whether or not the ravages of money printing is hitting the american economy by simply looking at the us dollar. so the us dollar because of its strength at the moment, it shows that it's the cleanest shirt in the laundry. the other currencies around the world are in free for all the e, c, b, and other various currencies. the euro are, and there is open writing and revolt in europe and in south africa and germany is under water. and these countries are genuinely facing existential crisis. so the dollar is a beneficiary of that relative to but that's always been the case in this post $971.00 era of the money where everything is relative. and on a relative basis the us dollar is compared to these other currencies. but i think that the average worker is experiencing 2 things arising prices and a decline in real wages. and that is a recipe for social unrest,
which is on the periphery happening in the us. hasn't yet met the vortex of like, say, an american spring or a worry or what's happening in greece, for example, or a cuba hadn't yet happened in the us. we'll see, you know, it looks like it's adding to that to complete the global insurrection against banker occupation. there are stars in the wind, i believe is the phrase that one would use in this case. yeah, there is a bit of unrest you might say in cuba, also increase. they were some resistance to some pandemic measures, but certainly for price inflation. in terms of food, you're seeing unrest in places like south africa, like lebanon, like haiti, places where 17 percent rise and food prices and causes a lot of actual harm to their ability to eat. so you're seeing that, but we're going to go into that in
a moment. but 1st i want to continue on this in notion of why doesn't place and worry the right so much i want to ask back, why doesn't inflation worry the left so much? because think of when you look at america, you think of the left really in san francisco and los angeles, right. and they shape our culture, social media and hollywood media, right. they, they're the ones that get their message out large. so what do you see there? what's one thing you think of when you think of san francisco or los angeles mass homelessness? right. well, i'm going to look at why the inflation should concern the left based on a headline for 2018 and consider that u. s. house prices are up over 25 percent at the moment in the past year. so from 2018 high cost of housing drives up homeless rate use the l. a study indicates sky high house costs are a significant factor behind california homeless crisis. and
a study contained in the latest u. c. l, a. anderson forecast released wednesday. this is 3 years ago. you say lay found that higher median rent and home prices are strongly correlated with more people living on the streets or in shelters their research backs. other studies that have found a similar relationship last year, zillow released the study that showed that a 5 percent rent hike and l. a county where more than $50000.00 were then are estimated to be homeless. would cause 2000 additional people to lose their homes. being homeless is absolute human suffering indignity a crime against humanity essentially. and that's left going inflation that they love the guardian writer, they're cherry picking information. they're saying they're looking at one set of data which shows that wages are on a percent basis up. and they're making a conclusion that, well, why shouldn't the left be happy about this?
because wages are up. so they refuse to simply add context to that number and say ok, wages are up this much but or places up more. so your adjusted quality of life is down. so the left is mathematically and financially illiterate. they refuse to put numbers into context. they cherry pick a number and then they build a scenario around social justice. you know, they, they try to, instead of putting the number in context, economically, they try to put the number in context to a political agenda. and then they, this writer here at the guardian, right, the story that, that brings that try to put those 2 together in a story. and people read and just look at and say, oh wow, inflation is good for the left, which is diametrically opposed to the fact it's, it's like saying the sky is green, right? but this is why there is not going to be a stop to this anytime soon. because you have an incredible power based on america
of water or associated to be left wing politicians. so this isn't going to end anytime. so again, the question, why doesn't inflation worry the left so much? so we've pointed out that homelessness, there's a strong correlation between house prices, inflation and house prices and homelessness. joe biden, to his credit this week is like they're having meetings about just to discuss this problem with house prices rising. so hard and fast. obviously, you know, he's also reappointing jerome powell, that's his plan. so he's not really doing much. nevertheless, this headline as well. rising food prices deep in the woes of world forest food prices are up 40 percent from last may. this is hitting these poor countries. they, they catalyze a whole bunch of countries having civil unrest, social unrest at the moment, including south africa,
cuba and haiti. lebanon is facing a great financial and economic crisis that has sent us currency into a tailspin and brought the country close to default. there, the rate of food price inflation stood at 226 percent and 12 month basis a may argentina rocketing prices, while bank high inflation night and nights area they point out is also causing a strife and term and hunger. well, let me, let me make a very start metaphor here, and hopefully the left will get in there. now, what's happening in germany? there's massive flooding. people done? yes. ok. they are the obvious solution to stop the flooding. ok, i don't think i'm speaking out of school there. i think that's a pretty logical conclusion. stop the flooding in america, the homicide crisis is expanding. drug overdose is expanding and as a result of the flood of money printing from your own power is flooding the system . with bad money is ruining the purchasing power, the currency, and being social may hammond uprisings the obvious solution would be to start printing money, stop the flood. but instead,
biden is saying we're going to reappoint powell and we're going to open up the phosphate more. ok, so that is the definition of insanity. it's going to get a lot worse. these people are overtly cognitively impaired and not obvious. we're going to take a break when we come back much more coming away. the me on drugs started as a way to come back, a great problem. what's the one? it's part of the attitude of the nation, not just of north dakota, and it got to be something that you could get elected. this time, the fight against drugs took a tragic, told us that andrew was competing short form. this is way too dangerous for him to be doing. clearly, they put him in harm's way. a rural college student does interest get shot in the head and found in a river like that. something else had to be happening. so
what we've got to do is identify the threats that we have. it's crazy going from station let it be an arms race. on often very dramatic development only personally, i'm going to resist. i don't see how that strategy will be successful, very critical of time. time to sit down and talk to me in my no phone are 69. i don't, i just saw up dollar a former isis fighters and now boarding of philippine naval ship. ah
welcome back. thanks to how you be on joey's great big on the kaiser. but yeah, gerald tell us inflation is back, but is it transitory? is the fed promises or is this the 1970s all over again? or is it something else general the federal reserve chairman says it's temporary show. it must be only temporary because the banks to set it is and although you know the price is skyrocketing, the number is just came out to the builders association this week. that it only costs between june of this year to be june of 2020. the prices to build a house only went up 26 percent and of course, lumber prices came way down, but they're still up over 50 percent. so no, this isn't transitory. it's real. and it's guide as devastating effect on really the little people of slave landey or because when you go out
buying from fruit to gas, so whatever, you know, we have to pay more, but the federal reserve is lying about this is we see it because they're not stupid, and they need to keep interest rates down. and they need to keep them down for to a couple of reasons. because interest rates go up, the markets, go down, borrowing money for nothing as everybody that choose to g or shall knows. and that's keeping the gambler is gambling on wall street and artificially propping it up. oh. and then mortgage rates, they just came down again. so february low. oh so that keeps the housing boom going . doesn't it? oh and then there's that thing called federal debt. i'm telling 30 trillion dollars . so when interest rates go up, you have to pay more and interest, don't you? but don't worry about it. inflation isn't going up. so interest rates are going up . i remember the said the policy from the fast, the past 30 years. no matter what the situation is to lower rates and print money.
so in the case of inflation, they lower rates and print money. if it's deflation, they lower rates and print money. stagflation are we lower rates and print money? and i think at this point time people are pretty cognizant of the fact that the federal reserve bank and the current chairman journal powell are committing a massive fraud. now, what will be the end game here because the mainstream media is totally compromised and therein, on the, on the fraud nancy pelosi trades and insight information. and so it's legal for us politicians who get the news from j pal. first. he calls me up and says, hey, by the stocks by these options, we're going to give you some more free money. i mean, the corruption is really astounding. and the opiate overdoses are skyrocketing, 90000 last year. so j powell has killed more americans than we saw in vietnam.
so what are the americans got? do you think? is there going to be an end game or is it just this is the, an gerald warning thing. they keep making up new stuff to keep it going. i mean, who would have that believe you have 0, a negative interest rate policy. they'll do anything, their money junkies, and they'll keep it going as much as they can. when everybody knows it's, the bible is going to burst. and it is going to be a point when it happens, but who knows when and what will they do? you know, when all else fails, by the way they take you to will this is think the afghan war, that 88 percent of the american people supported. when george w bush, the daddy's boy born on 3rd base, declared it back in 2001 or what happened max in, in march of 2000 over was that dot com bust. i mean, those she was in recession and all the sudden, i'm a yankee doodle,
dandy yankee doodle. dog die, let's go to afghanistan. so they've got to do them to get the people's minds off the devastation. and even looking at the numbers, the measure, the people over again on jobs are only $80000.00 restaurants went out of business last year. but the meantime, the big bank stories, borrowing money for nothing, was 0.35 percent. and they charge us in credit cards, 27 percent. how and how about the black rocks and the black stones and, and the j. p. morgan chase. how many times is j. p. morgan chase. been convicted of fraud already 5 and nobody goes to jail. but their boss, look at the j. p. morgan chase steals the goldman sachs deals and other deals that i just mentioned from black on black rocket emergency acquisition activity. books
are getting much bigger because they're borrowing the money from rough thing. nothing as really the little people say land they have to pay that $27.00 i think is point 5 percent interest rate. when you rate on a day on your credit card. right? absolutely. now that, that's what i call interest rate, apartheid, and i want to get your thoughts on. now looking back at the 1900 seventy's, it was interesting because we had similar high unemployment and a lot of money printing. we had the stack lation. today it's a little bit different in that they are responding with the stimulus tracks and enhanced unemployment benefits as well as rent moratoriums. so consumers don't really care about behind flexion so much. so instead of a war gerald to distract, they seem to now figured out that they'll just send people stimulus checks and hope that they don't notice 100 percent. right? because everybody knows you, you know, any where you practically in the world,
people are having difficult times hiring workers. and why should a worker that was making $15.00 an hour go to work when they don't have to work and they get $15.00 an hour from government money. and now it says sending out what $300.00 for people that have children each child. you know, so yeah, you're a 100 percent. right? that's the other way of doing it. you can't do the people's minds off it by, you know, giving them just enough to survive. and it's working because there are no protests going on. there is no, there's no, you know, anger going on about what, what, how they are they are raping us financially and making the big bigger. where did the bigs get richer and 2020 the billionaires trillion dollars richer. let's talk about inflation for a 2nd because for a while, during the globalization period that we have for 20 years,
wages weren't really improving in the us, but prices for stuff like televisions and clothes were going down a lot. so people didn't really notice that their quality of life was impacted that much. but now we've got a situation where although you've got wages going up now little bit, the prices are actually going up a lot faster. so people's quality of life is deteriorating now. and around the world, i see protests and riots everywhere. the arab sprang. everyone remembers that due to inflation and the cost of food. are we, the trends general have a thought about this type of american spring coming to america. sometime we don't see coming to america, the fight, surely out of here, we see going on around the world and you mentioned wages went up, but inflation went up much higher. i think a well over 2 percent of a loss for on, on wages. going back to the 7 days, you know, one year i got a 10 percent raise,
that's how much inflation was going up. and so they're not going to raise wages and we're going to she protests, the rights break out around the world. and by the way, max, this is very important. one of our top trends to 2020 was new world disorder. we bring the trends out in december for the new year. so they came out in december of 2019 chain. the people protesting against lack of basic living standards, government corruption, crime violence, and going on. they couldn't stop coming back. they're coming back big time. you see what's going on in south africa. we are part of it's because that that is where they said the project jail, but that's only a little part of it. you have on employment reaching the 3040 percent bracket showed that they're the same thing is going to happen in india. you're going to see,
protest all around the world in america. i don't see the fight. i just don't see it . the people have lost it to me. you know, you have, you have a 70 percent overweight, 42 percent obese and, and i just don't see the people with the passion. so g night and rally for freedom, right? yes. like the opium wars, back near member of the u. k. flooded china with the opium and got them hooked and part of their imperial ambitions. here we have, you know, 90000 dead from opiate overdose last year in america. and you got a question, the geo politics of that. you know, you and i are big fans in new york city as a cultural hob. and talking about the seventy's, it seems like we're back to the seventy's back in new york. murder rates are high. and it's, it seems like it's going farrell, you know, the city is collapsing and that would have far reaching impact. i would think
around the america in terms of new york city as being a bit of a vibrant tub for what's happening or am i overstating in general? what do you staying there? no, you're not stating, you know, i just was down there this past weekend. the vibe was terrible for read signs everywhere in this just came out lets say, average asking rental when asking rental rents what they were asking for. sell 10.7 percent. year old a year. we have rents along spring street and so how dropped 22 point. 9 percent time square wrenched down 22.5 percent. so the thing that makes new york city happened number one, the people living there, the people that come as tourists and commuters
commuting stead. these are the facts. the office occupancy rate in new york city is that the grand total of 20 percent 20 percent max. you go around new york, as i do for rent for rent, for rent, for rent, for rent, for rent, for rent, east side, west side, all around the town. this is going on in 2019. it was over built that only thing that hudson yards on charlie was $25000000000.00 to build it. dead, neiman marcus, moved out and shot restaurants moved out. so now let's go back that j. p. morgan, government shacks, morgan stanley, the bank states. they're demanding that their workers get back to work. you know why?
because they got the loans from all of this commercial real estate and its going down the toilet and they know it. and number 2, they are invested in it. right? sounds like another party came from washer. we're going to carry this over to another segment. but for right now journal, thanks for bringing on the kaiser report. thank you. all right, that's going to do it for this edition of kaiser report with me mac kaiser and stacy herbert. thank you to gerald sunday until next time by you all the me ah look forward to talking to you all. that technology should work for people. a robot must obey the orders given it by human beings, accept where's the short or conflict? with the 1st law show your identification. we should be very careful about artificial intelligence. the point obviously is to great truck,
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