tv Keiser Report RT April 20, 2021 7:30am-8:01am EDT
that is according to our 1st chart here and it's from constantine gaff who's an economist and an academic a professor and he is looking at a chart of the employment participation rate in the united states this isn't normal he says this is a secular disaster i'll just show you the participation rate going back to $1048.00 post world war 2 stayed flat at around 60 percent of the u.s. economy adults anybody between say 16 and 65 that included women who are stay at home at that time this is the surge that we saw with all the women coming into the workforce from the late sixty's and now since 190-2000 we've had a plunge and back to where we began and where about 65 percent i think barea 63 percent that was averaging right before this economic covert lockdown and
now it's closer to 60 percent so this isn't the unemployment number that's a different number this is a much broader view of the workforce in america and it shows that the. participation rate that is the people who are working participating in the economy is heading down and heading down in a shocking way these are they are necessary expendable sort of population of the economy and i think that's why you see all the opioid overdoses the long term like absence of any hope there's no hope for many people in the economy working age adult population and able bodied and. we're going to look at that the male participation rate in particular soon but 1st if he says constantine says that if
you think we're getting back to normal you need to check what normal you have in mind here is the unemployment rate going back to the 1948 and you know unemployment is obviously cyclical especially when we used to have business cycles so when the business cycle was down unemployment would go up and then the business cycle picked back up and people would be employed again so this covers the long term unemployed though those who are unemployed for a longer period of time i.e. the business cycle is not short a business doesn't pick up economic activity does not pick up so this is for counting those who are unemployed for 27 days a 27 weeks or longer so you know these are all the recession's going back to the 1948 and from the last financial the global financial crisis of 2008 we've seen way a huge spike a doubling of the normally used to be normal to the business cycle to complete and now we have extreme long term unemployment that sets in with each financial crisis
and remember this is the period pre central bank intervention and the business cycle here this is post. quantitative easing and intervention and the business cycle so you're developing in the united states a permanent underclass so these are people that will for generations remain poverty stricken and no way to escape poverty now it's affecting 100000000 people or more and the 2nd thing is that as you point out it has to do with the money printing and speaking as a man. there is a couple of things that need to be satisfied one i need to have some kind of meaningful work or to do i need to be involved in some kind of existential conflict for the survival of my clan or my country. now money
printing does neither it's simply placates. and so for the average man this is an increase in credibly insulting and it stirs up a lot of anger and resentment and the when men begin to realize this is done out of incompetence and it's done from a place of moral ambiguity by the central planners it becomes a bigger problem you see in the media the elite and the knowledge economy members of the knowledge economy those who the winners as hillary clinton called them versus the losers i think these are the costs the cost of money printing the cost of free money the cost of of preventing a business cycle the cost of you know a lot of this started suppost 29992000 so that is also when we got rid of the commodities futures modernization act got rid of glass steagall
and introduced. china to the world trade organization favored nation status and they got to post tariffs and stuff so these are the costs there are costs and and and our media of course doesn't cover the cost they don't debate issues they they like they declare how it is and so these it we have to be honest and have this debate just like these are the costs are going to have mass unemployment partly because you know since 97 when we have the reserve currency and you need a huge deficit in order to finance that to enable that because you have to send dollars overseas we've covered that you also have. china obviously we can't compete with china when they can huge they could put huge tariffs on our goods but we can't do the same according to w t o rules and that can tell in effect create is like a reserve now that the resource curse so you don't need it like why go through the cost and effort of of manufacturing when you could just print money and give it to
the elite 1st and then it might trickle down to the piece. will in the middle of the country and most high levels to focus on the moral ambiguity of the central planners on the money printers and study keep somebody who's the c.e.o. of a wall street bank employed during a downturn in the an economy where they would have been fired or their bank would have gone out of business that would be a normal business cycle but the money printing has kept these insolvent institutions going and kept their c.e.o.'s being pay tens of millions or $100000000.00 or more so for every c.e.o. of wall street bank that because of the moral and babylon so the central planners the central bank that your own pal. that means a 1000000 unemployed men and so that there's a cauldron of thanks to that is the showing of sand pray and the financialization of the economy that has been unable partly as well through this nonstop fed
intervention when we had the greenspan put introduced in the late eighty's through the ninety's and then that's continued with all the the central bank put and the ret and rescuing of the financial sector and any listed stock company essentially so what that has enabled is the utter financialization of the economy so you can't really invest in r. and d. can't invest in in cap ex like real you can't build factories here because shareholders will penalize you and it doesn't there's no for personal financial incentive for any of the executives to do that when they are more richly rewarded through stock options and things like that gaming the system of stock buybacks so you know there's a huge myriad of things that are causing it there's no one issue that's causing it but in terms of the male participation on the economy the you see what constantine gird get calls no hope he can omics and that is quite remarkable
comeback 10948 when we had over 85 percent of adult able bodied men working 1st this now we're down to about just over 65 percent that's kind of the heart of what you're seeing across america in terms of maggie and all this conflict in the hyper you know the hysteria in the mainstream media about. there's almost a projection of guilt about the situation the hopeless situation of the huge deaths of despair that you've seen as mortality rates increase and mostly due to these this situation here of of people unemployed you have that with every empire. many times throughout history where there is mass unemployment among men and it does lead to. you know domestic strife and instability you saw that in rome a few times he saw that and that led to bread and circuses because there were so
many unemployed men you saw that and ancient china and you know that was the emergence of like the monks having to defend themselves the shalem monks and kung fu and and all that sort of stuff so you know this is a constant throughout history of course weimar germany and where that led so it can be i think you see it playing out on a different scale in a modern way right so the central planners and the central banks the elected to avoid and to ignore the business cycle and the tenants of competition and the tenants of capitalism yet those 2 things have been snuffed out through money printing had they been in play we would have had bank failures and corporate failures and the emergence of competition a new companies new banks new competitive industry which one of employed a lot of men. but because of the effects the euthanizing effects of money printing . these men are now bent cast side and this is
not a problem that you can solve by printing more money and so when you essentially make a swap you're swapping out a productive economy that's competitive for da sile economy that's becoming more and more. mire in self-doubt and violence to be to be quite frank to me that that's what the central bank there when the central bank will claim is that this is a victimless crime when they print money and yet we don't see that on the ground we see a lot of violence on the ground and that goes directly to the fed store they have responsibility for that well we certainly see an increase and potential protests happening and we do see death and despair increasing now the numbers for women of course are very relatively good they've been good up and told just recently so from 1040 obviously when they were mostly a housewives and not participating in the economy we saw
a surge up to about late 1990 s. again the period when we saw w. cho china and all the classical repeal and the introduction of the quantities futures modernization act since this happened we've seen the economy get lighter and lighter and this is part of the problem and whether or not we could ever really go back to normal is because the economy is so light it's like the likes of facebook and twitter and big tech companies like that they don't need as many workers as ford and g.m. and all the big auto need it so. however like we still need to talk about and discuss and address and how do we deal with the the consequences because there are side effects to that and nobody's discussed that and so i do wonder like a lot of this is due to the fact that our tax structure and the structure of compensation for c.e.o.'s and turn. exporting jobs to china so how are they
responding it seems like the elites this very same elite that caused the situation including joe biden who was there at the time that it's like asia pivot and let's start a conflict with china instead of just changing the tax structure while. going to our shape they are going to take a break and when we come back much more coming your way. and you know that one of the highest in the way you don't assume. that it could still move to. the plaza so we've got to go through hard not to think in the distance had to see a plan and i'm still optimistic that. this is the only thing that we do
is music because everybody fights in his way. the floor of the town is going to swoop in and. have a look at. what i see is this is the that is what comes. welcome back to the kaiser report i'm max keiser time now to go to the cloud of gold money alister welcome back my pleasure max all right so just to encapsulate
what we said in our previous segment the inflation deflation debate makes the most sense if you put it under the rubric of there's a neo feudal tendency by the central planners to create catastrophes and grab all the cash is that a fair statement and then we can move on. i think it's probably a little simplistic but basically we're not getting any richer while they print money it's as simple as that all right let's move on to some political areas here the the extraordinary acts that escalation attention for 20 u.s. and china you know biden has ratcheted up even more than trump is is the inevitable through cities trap conflict history says usually happens alister yes the answer is yes i mean basically it was the city's trap is. this goes back to the peloponnesian war i mean the idea here is that you get a new kid on the block which threatens the supremacy of the existing. rulers if you
like in the area then you're going to war and we are moving in that direction on this is actually quite concerning and the developments in ukraine i think quite clearly show that this problem is heating up again i mean one thing about president trump is he didn't start any wars i mean it looks to me as it has gone it might be getting back to that was sorry states where we create wars and people get displaced as poss the very very big game war appears to be a ponzi scam you know the u.s.'s got these military bases all over the world and they have an enormous military budget 10 times greater than all the other major economies in the world combined right but that's a ponzi scheme because like the l. joka the doc i go the doctor says doc my my brother thinks he's a chicken and he says here i have to take these pills and the guy says no no no we need the eggs right so they've they've got themselves into this ponzi scheme of
warfare but that's all it is right because there's the existential threat that's not there correct yeah it's all about control i mean we've known in fall really since the 2nd world war that america has tried to retain. control over the rest of the world and if in the early days it was obviously against russia and china those communist states and particularly russia i mean i was brought up in africa and i saw the money coming in from russia and coming in from america he who bribed most basically both the politicians and the politicians just pocketed a lot it's an extension of that game it's still continuing today and i just don't see that the security system and the defense industry in america has ever wanted to adapt from those days it is still continuing to pursue those sorts of objectives and this is sad i mean the fact is that america is now losing its
head hegemonic status around the world and america doesn't like it i mean certainly the intelligence services don't like it but it is a fact i mean already we've got the european union which is drifting away from america now that britain is out this. you know having a hell of a scrap over this north stream pipeline as you bypassing the ukraine and ukrainians are going to be losing on you know not getting the transit fees and all the rest of it the other thing of course is that the european union is on the other end of the silk road over land so crude and already they are very much tied in with trade along that road and particularly into china or at the other end of the roadway so the idea that america still through nato controls the e.u. i think is very very question and as far as the e.u. is concerned i think that they are more interested in doing business with their neighbors to the east so they are with continuing with america telling them what to
do right everyone remembers the cold war 'd and that people made mistakes and the same thing on the 21st century the all the other countries are willing to forgive and forget the united on say china russia complaining about america's overthrow our current 5th. country central door to all over latin america and around the world right so there seems to be maybe a time for america to grow up a little bit but you know you make a mistake point about your europe thing now east i've been saying this for a couple years kerry so you think we could see germany join up with russia really going forward and that would really change the map what net mouth are absolutely and this fascinating situation because if you look at the european union that's actually is a system that is falling apart the only thing that's keeping it together is the e.c.b. and the way it prints money to finance governments and the way it manages the euro
that is the only thing keeping the european union together now at some stage i think that's going to collapse what then happens is that germany is beat of its obligations to all the the pigs if you like in france and so on so forth a seismic shock sure but then germany will have to re-evaluate what her role is in europe and i think think that we've got the makings of a new hanseatic league if you like with trade with germany you know sort of with everton the middle you've got russia or on on the eastern flank and you've got britain on the on the western flank and i can see that developing and replacing the e.u. and i could how will it take i mean i think the next financial crisis will probably be the e.u.'s last and if i'm right in that then it could be a matter of within a year i just don't see the e.u. managing to continue on its current course of terribly long so we're talking about
events which actually could happen fairly be sued you have been saying for years something that gerald celente who's a guest on the show often warned 10 years ago as as you have put it that currency war leads a trade war leads to hot war the something. theme even talking about are we it sounds like we're at the stage now or were tiptoeing into the hot war phase. you know we're moving towards it but i mean you know the problem is that mistakes are made i mean you made that point a little earlier and this is concerning because i just think that ukrainian situation could be one of those mistakes i have no doubt the toll that the russians are going to come in from from the east they're going to protect what they see as the russian speaking people in the in the east of ukraine and the americans are absolutely committed and particularly biden and his relationship with
the ukraine they are committed to trying to protect the ukraine so this is not a good thing and i think it's going to deteriorate actually quite rapidly we're right well for a foreign aggressive country that is being positioned as the aggressor that has russia they sure have a lot of foreign military bases placed are all around their country in particular to the west and now in ukraine so it's really the impingement by nato east that are the hostile actors in this equation the state to be frank to be at the given historical accuracy and all countries have a right to protect themselves but you're right in that this is escalating and we've got. a lot going on in a way that diplomacy clearly has been thrown out the window and the getting back to america's war a ponzi scheme if america is not bombing some country the american economy without
doubt collapses so it thrives on the bombing. as part of the empire you now it is america going through what you know great britain went through when it lost its empire back after all the war won it is america now in the same position where they're basically going to have to give up their empire alister there's a difference in approach we very deliberately took the view that we could no longer afford to have an empire and so what we did was we very rapidly tried to educate. the locals i mean it particularly in the african nations like kenya where i was brought up i mean i went through this because my at that at that time my father was a politician in kenya and my uncle was colonial secretary in london so you know this is very raw stuff and i can tell you that what we did under macmillan was we just got the hell out of it this is not what america is doing and they're honing
themselves i think as hostages to fortune because well you know we've just been talking about ukraine we ought to also talk about what's going on in the china sea there is no doubt in my mind that the right strategy the soon suit strategy if you like of china is is quite simply while you know enemy is under pressure elsewhere that is when you take the opportunity to increase pressure on your enemy and i think that's makes an overall sense in this current context america who finds herself being drawn into the ukraine and at the same time having to defend her position in the pacific you know this is going to be very very difficult to do our program is that the people in the defense industry just rub that hands and say ah you know no planes more missiles brilliant this is good business that i think is the underlying problem which we've got to get away from let me ask
a quick question would you say going back the last 5 years i mean. they the world's a big place a lot of countries got different interests everyone's looking at everybody else but would you say as a fair statement that the us given the elections of the 2016 and the election of 2020 has been overstating this existential threat from russia and understating china i'm not in a position to make that. assessment because i'm sure you would agree with me that all nations basically use propaganda to produce a situation and we've seen that very very definitely in the truck yes against china against china's technology and the rest of the finance director of way do i think is still locked up in or not locked up in under house arrest in vancouver. the problem i think under president trump was that he became sort of very inward
looking in the sense of make america great again he wanted to bring all the production back into america. which a look cost basis was you know completely nuts but that was a policy it was all tough kate it was sort of you know going in on on themselves whereas the rest of the world was used to an america which was outward going and it was a fundamental change in the whole situation china you know basically china did the right thing i think strategically and she didn't really respond to what america did . just let america get on with it in a sense and try not to respond but she did make 2 mistakes in my view the 1st was that when the situation escalated over hong kong she decided to tear up the treaty with britain i think that was i can understand why they did it but i think that's a mistake. i think the other thing is. if you like very very.
subtle view that taiwan should be is part of big china and i think that's going to be a problem look into see beginning to really make itself felt in the next 6 months or so i mean we've already got you know increased presence in the china seas the americans of the british the sending west sending a craft carrier there oh i met. get a wrap it up now you have a 2nd fascinating would love to continue but we're out of time alastair thanks so much for being on the kaiser report that was my pleasure max and that's going to do it for this edition of the kaiser report with me max kaiser stay separate want to thank our guest alsa macleod and bio.
psychiatric drugs are essential for millions of patients. they want that pill that they hope will take care of their problems their only and rapidly in the short term they really work the problem is in the long term and mostly disastrous suddenly stopping a drug can cause withdrawal symptoms more serious than the condition it was meant to treat instead of the beneficial effects of these different medicines early up to something wonderful and very often there are full effects of it up to something terrible can bill solve all ills we're trying to medicate life itself i just think i was in like i was just scared me i was a scared little girl i was 24 and like. i didn't have to be so complicated. the world is driven by shaped by phone person.
dares thinks. we dare to ask. it's been decades since the fall of spain's fascist regime but old wounds still haven't tailed. into the love until it was pretty famous. because only from you know. me coffee to market to bottom is above all me on the bus at us as mean older than us and i think ultimately you know cells ins of newborn babies were torn from their mothers and given away and forced adoption that only.
mothers still search for grown children. for their parents. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. dramatic. only. very. few sit down in. a medical commit suicide every. pandemic pushes for trainee doctors to the breaking point. health workers just scribed their role in the.