Keiser Report - Markets! Finance! Drunk Brokers! (E57)

[itsanameisntit]

It will never work, the very first thing that the Supreme Court will do is repealed its law against obscenity and instead of any kind of protection, will end up seeing "2 girls 1 cup" on Fox Primetime.

[christophercredit]

How on earth were the American people mind f'd so badly, to get them to believe high housing costs are a 'good' thing?!...85% of the housing in San Francisco is rental housing; how high will that disparity grow? 90%? 95%? 99%? It's not far from those figures now. To top it off, the special interests (landlords, investors) have successfully all but completely decimated rent control allowing landlords to charge 'whatever the market will bear'. Hmm...what will you pay to keep a roof over your head?

[onedollarwill]

Maxwell Smart, Secret Spy!

[pretorious700]

Just think for a moment the depravity of minds that invent something like "waterboarding". I know it's been around in one form or another for centuries, but it's still some sick shit.

[hubiethesaint]

Wachovia bank gave a 16.5 million $ loan to La Raza

[amcanmike]

NICE GLASSES MAX 

[ihatemexico]

America has been taken over by thugs.

Restore The Republic!

[KimInLosAngeles]

Waterboarding is a torture.

I'm a Catholic & I read books on atrocities committed by Catholics in the name of religion.

Catholics in Europe tortured "witches" & "satan worshippers" to get their confessions.

One of their methods was waterboarding & they called it a torture.

[JRCrowley]

I LOVE GOLDMAN SACHS!

/s

[eesloan4]

I kind of wish those two would not lump in informed americans with idiot americans. Many commenting on here are americans and do not support this banking takeover, the war on drugs, or the war on terrorism. Oh well.

[JRCrowley]

@eesloan4 They don't mention the informed Americans because they represent only 3.5% of the population of the U.S.

[eesloan4]

@JRCrowley Ha yea I suppose.

[kazia1328]

RT i think a special show with max and stacy where max describes the major problems we are facing in the money system and with oligarchs et al, some naming and shaming, what we can do to take the power back! it seems to me like max has more to say but does not have time to. also talk about the effect of buying physical gold and silver on the powers, needs work but its just a thought thanks

[tiggeresse]

Capitalism cannot coexist with central banks and lobbyists. In reality, it has never existed. Ergo, it's yet to be proven capitalism even works.

[Ranger4564]

@tiggeresse I've long held that capitalism can never exist because it is truly far too brutal and destructive. It's sanitized in words, but in actions, it would be a very cruel system, and we'll almost always have social guilt / concern that we will want to act in socialistic ways which I actually advocate anyway. When they say let the bad business/ person / corp fail, they mean, instant poverty for those involved. Bankruptcy should not be an option in capitalism. Debts are obligations.

[tiggeresse]

@Ranger4564 Capitalism is a system that rewards only the richest. If you want a tax deduction, you must first own enough to earn it. The trend of the weakening middle class is so clear, I am surprised "Socialism" is still such a dirty word in America. And what "welfare state" are they talking about? The only welfare here is that given to large corporations. You'd think folks would have figured out by now that the current system does not work! Band-aids fall off eventually.

[jyoung0000]

@tiggeresse People need to quit learning by radio and TV.  That is all there is to it!

[Ranger4564]

@tiggeresse Actually, my argument is that Capitalism rewards only the most ruthless amongst us...it is a competitive nightmare, but those people who are most heartless end up doing the best. Otherwise, I agree with you. Most people have no clue what they're talking about... they hear something and then believe it because they can't bother to think things through... One need only look at the world as 1 big place to see that Capitalism fails most of the world's population. Tragic.

[tiggeresse]

Um, precious metals went down quite a lot in the last week. not up. This is a bit out of whack, since the stock market also dipped. Clearly, precious metals are being manipulated downward. Realistically, gold and silver should have risen considerably. In the last week, gold has dropped below $1200 and silver below $18. My portfolio got killed.

[Ranger4564]

@tiggeresse Agreed... but, now is the time to buy, while Gold is down $80 and Silver is down $2 per ounce. Sorry to hear about your losses ... to put it into perspective, my mutual fund portfolio has dropped 12% this year. I decided to transfer chunks of what's left to precious metals. I'm just waiting for my funds to be transferred from a MF IRA to a PM IRA, at which point, I can buy the metal. I hate the waiting because the price is good right not. It should go up very shortly. Hold long.

[venji8]

"...the capitalist mode of production is characterised as a system of primarily private ownership of the means of production in a mainly market economy, with a legal framework on commerce and a physical infrastructure provided by the state" When capitalism uses the carrot it's called democracy and when it uses the stick it's called fascism.

[Ranger4564]

@venji8 Well put, even though I think you should use your analytical abilities to evaluate whether a capitalist system would ever lead to true prosperity for the majority, or if it would lead primarily to devastation for the majority, so that a few can accumulate great wealth. I have concluded it is the latter... the profit imperative works just like interest... eventually, wealth will always end up being highly concentrated, because advantages will have exponential / logarithmic effect.

[venji8]

@Ranger4564 I am 100% with you, capitalism is arrogant, greedy and unfair by definition it supports crime in all levels and we all know from our little experience that NOTHING lasts forever. Now we have to be very careful and not let them take us to war.

[sng1977]

We need to stop letting the gov reg everything and stop acting like babies and think for on our own.... if we did the crooks would lose their power.. I think we give them the power .. thinking is boring or some thing in the US.. we care about the loss of MJ and how many days lohan is get.....

[davejoe75]

Max is hysterical!  Love watching these.

[davematherly]

I just had an idea...

Since the Obama dollar is missing it's color, why not actually USE it as toilet paper so that you can impart some realistic color on the portrait? This may make Barry look even MORE African than he really is, but I think it would be an improvement. :)

[mthrnatrsson1]

max is the best.....

[Plum369]

oh hell...."the love of money is the root of all evil" who loves money more than wall-street dealers (and their rat lawyers)?? answer me that.

[continuityofliberty]

It's interesting that Stacy is discussing how the media skews stories, then goes on to state that Americans think they're in a capitalist system, and that Americans are happy about the drug war.

She's succumbing to the skewed messages she's describing. Nobody I know thinks we're in a capitalist system, and they all think the drug war is a waste of time and resources.

Americans are not what the media would have them be, and not all of them believe what they're told.

[Th3Wab3]

@continuityofliberty if the majority (consider that there are roughly 100 million evangelicals in America) didn't believe in the war on drugs it would have ended... your social sphere isn't retarded good job... I'd be surprised if the majority if America could actually describe their economic system im sure it's the case here in Canada..

[elite1980s]

The government, mainstream media, your bank manager, your freedom, liberty and democracy including your rights to vote is ONE BIG SCAM, it has always been a SCAN to slave you and everyone out there, wake up and smell the coffee people! Water boarding and similar human rights abuses is the norm to these mafia style run "democracy" governments, controlled by bankers and the financial institutions. Capitalism is fueled only by profit and the never ending need in making a quick buck no matter how.

[DeathOfTheDollar2010]

These two are a great couple!

DeathOfTheDollar (dot) com

[amcanmike]

MAX KNOWS THE GAME

[krislyttle]

My old man sold booze back in the '80s...wouldn't be surprised if some of his customers were fraudster bankers.

[turbotrana]

You have to keep this format. It works very well, especially the first bit with Stacey as she explains matters very well.

[overseachininadoll]

Why worthless when you can use the $ to exchange goods you need?

[momerath42]

This 'obscenity' idea is obscene. The premise rests on the fact that the state can't be trusted to write laws that aren't full of loopholes. So you want to solve this by letting the state say, in essence, "I know it when I see it"?

Political and economic wonks need to get one thing through their heads: there is already a field of study where we write what you refer to as "technical law" - it's called computer science.

[dontblockmedk]

The only reason western countries mainly US have a high standard of living is because we run an empire, NOT because of capitalism.

The US is only 5% of the population but consumes over 25% of the world's resources.

The only path to sustainable prosperity is to eliminate property and all forms of differential advantage. One way is by sharing all resources, using the latest technology, and creating abundance.

v=YxPPnCW6sMo

v=yPmHaTirnCc

[Ranger4564]

@dontblockmedk Right. Precisely. Agreed. It's amazing how few people grasp these basic and most obvious truths. It's simple math. By the way, while considering those video's, also consider these.

v=sYcUrtj_Uh4

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v=wJLaRhTKzw8

v=LAH82apbVzg

v=4FVATGtlr6A

v=qPxjVG6_iNM

[1x93cm]

I don't know how stacy does such a straight faced report- I'd be laughing because of the rediculousness of the world that you're reporting on plus Max's rebuttal

[wwood14]

Sounds like a modern version of Huey Long's Share the Wealth Plan. I always liked the idea..

[DackIsBack]

I wish I had money to invest. ^^ lol...

[LordDyhalto]

I need those glasses.

[treon123456]

@HyperBorealOperator ...HER AND MAX ARE MARRIED! they keep it low profile though....

[LunkwillFook]

awesome show.

[Hendo1974]

Avarice and Neferious!

[saintkatanalegacy]

imma stock up some booze and hit high numbers!

[genefire]

Good insight! Thumbs Up!

[theabomation]

The Afghan people hate because of our freedoms and I-pods oh wait they hate us because we bomb them..

[Valdris1987]

MAX ONLY IN THE SHOW!!

MAX ONLY IN THE SHOW!!

[badstacksize]

@Valdris1987 No, Stacy is a great co host!

[Valdris1987]

@badstacksize yes i mean, Max and Stacy only!

[someguycalledshelnut]

The American people have been screwed over by their own "leaders" in government and business. I'm afraid the gig is up though, and those "leaders" will soon be reaping what they sowed.

[GravDiga]

@someguycalledshelnut If the government was to cut off your current, gas and water today what would you do?

[Saywhatyoumust]

@GravDiga  - A charcoal BBQ and / or smoker might come in handy.

[harr77]

Bah give us the Vietnam documentary you've been promising!

[jammoexii]

I assure you that the G20 protesters are in fact anti-capitalists. I like Max Keiser, but whatever fantasy he has about capitalism, capitalism refers to (among other things) the domination of society by the capitalist class, ie. the class of people who make their living through the ownership of capital. An archetypal example of this is the organization of the G20, and that's why the protesters are there.

[saintkatanalegacy]

@jammoexii well, it's no longer capitalist in a market environment with lots of government intervention - that is ofc if you see it in an austrian way

[mengwise36]

@saintkatanalegacy

The Austrian way is bullshit.

[saintkatanalegacy]

@mengwise36 why would it be bullshit if it's the actual reality? what's BS is how "economists" say things are normal. how else would you compute inflation if the CPI is BS? how would it be capitalism if the government rewards large irresponsible companies instead of letting them go into financial restructuring if ever they fail? why would you monetize your credit instead of paying them responsibly? that's the difference between keynesian from austrian economics

[mengwise36]

@saintkatanalegacy

Let me explain to you why it is bullshit then. "Laissez-faire" is a term created in the 17th, 18th century. Guess who was in charge back then? Kings! Of course the business wanted to stop "state monopoly" and let themselves have a chance. Of course the business wanted less government control. It is not to benefit the masses. It is to benefit the business. In the days of Goldman Sachs betting against their own client and BP disaster, you want LESS government regulation?

[saintkatanalegacy]

@mengwise36 BUT, look at what over-regulation brought about. in a modern capitalist world, less regulation is more attractive. attraction from capitalists means more jobs. where did most of the industrialists go? to where there is LESS regulation. besides, the austrian definition for inflation IS WAAAAY more reliable than CPI based inflation.

[mengwise36]

@saintkatanalegacy

What is over regulated exactly? When banks are less regulated, economy crash. When health care is less regulated, sick people die. When OSD is less regulated, you have BP.

If what you say is true, then any African country would be more attractive to the capitalists. But the reality is NO. Capitalists are attracted to opportunities, regulated or not. China has far more regulation than US, no? Why would capital flow out of US to China then? MORE opportunity.

[saintkatanalegacy]

@mengwise36 over regulation = red tape. over regulation introduces the need for companies to merge. merging then leads to monopolies but since they are too big, they become harder to manage. over regulation also introduces the concept of too-big-fail. obviously, in a market environment with over regulation, it's difficult to open a business which is why there's practically no competition. less companies then less jobs. more unemployed means more poor. more poor means they die poor.

[mengwise36]

@saintkatanalegacy

I will even give you regulation = red tape. That is what bureaucracy is, red tape. However it is quite interesting that you claim red tape encourage companies to merge. I played this game called Railroad Tycoon. I am sure there is no government whatsoever in this game and yet in order to "win" you have to buy up your competitors to achieve monopoly. If anything, government should regulate how big a company can get and in some degree that is what FCC or SEC does.

[mengwise36]

@saintkatanalegacy

It was the LACKING of such regulation that let to bigger and bigger companies.

[saintkatanalegacy]

@mengwise36 heh, or is it because companies can't survive as small enterprises due to overregulation that pushed them to "survive" as merged companies? why are smaller companies moving to another country? you see, it's the larger companies that lobby in order to overregulate the system so that they'll achieve monopoly. like you said, there's no government in railroad tycoon, so you never saw companies lobbying in order to achieve monopoly through red taping.

[saintkatanalegacy]

@saintkatanalegacy would suggest reading "capitalism: a treatise on economics by george reisman"

[mengwise36]

@saintkatanalegacy

There might be examples that some companies would merge to compete with bigger ones, with or without red tape. But that is not, has not and never will be the majority.

The nature of capitalism is companies fighting to establish monopoly by any means necessary, as illustrated by Railroad Tycoon. There is no government to pressure companies to merge. But to WIN in the game, as IRL, companies have to outgrow their competitors or by crushed.

[saintkatanalegacy]

@mengwise36 but do you even know what capitalism is? Heck, there's barely any capital left for competition to even arise. Tell me then if you truly believe that America still has fair capitalism if "too-big-to-fail" companies really deserve bail outs when normally they would have to undergo the normal business cycle but they didn't. instead of redistributing capital, hence capitalism, you now have serfdom courtesy by an over regulating government. it's not even the companies that eliminate you.

[mengwise36]

@saintkatanalegacy

I know very well what capitalism is and anyone who thinks that monopoly is NOT the end game of capitalism obviously does not know what capitalism really is.

Capitalism was a step forward from serfdom where power is transferred by birth. Instead, people with money (capital) now holds the power. No one ever said it was fair and for you to think at some distant past capitalism was fair is laughable.

Without a government for the people, capitalism is serfdom.

[saintkatanalegacy]

@mengwise36 it IS the government that eliminates you from the competition thanks to a number of taxes, fees and regulations that shouldn't be even there. it just promotes spending, consumption and debt as opposed to capitalism that promotes saving and normal redistribution. also, too-big-to-fails won't bother betting against you if they didn't know that government is there to save their arse every time they do something stupid which would have been their end.

[mengwise36]

@saintkatanalegacy

What is this "normal" distribution? Without government regulation, a corporation will pay the lowest wage possible (saving for them but not for you), work you 24/7 if possible (saving for them but not for you), produce the cheapest product possible (saving for them but not for you).

And let's say a company fails. What happens to the capital? It goes to another person with capital.

Goldman Sachs is not doing something stupid. They are doing something very profitable.

[saintkatanalegacy]

@mengwise36 with wage control, it forces companies to hire less workers, hence less productivity and more unemployed. and since you've mentioned companies failing, did fanie mae and freddie mac die? did all those too-big-fails die? what happened to those who aren't big enough? they all died thanks to an over regulating government. and yes, GS isn't stupid enough because they have their own men running your economy's regulation, duh.

[Yamakashi1]

@DIVERSITYRECESSION3 not really thankfully.

[Selbsttranszendenz]

waterboarding used by Iran would called a crme against humanity

Greetings from Germany

[560e]

The psychology of meritocracy is such that any means to get money is not only acceptable but considered just, because American narcissists believe they are worthy of unlimited wealth and have been unjustly deprived, no matter how talentless they in fact are.

[mengwise36]

@560e

Who needs talent when you have GOD in your corner?

[560e]

@mengwise36

If there truly are gods, 99.99% of them would hate us Americans, because we place one god on a pedastle: Money.

I don't Thor would like that.

[pretorious700]

The obscenity argument is ridiculous, and will never fly in the greedy climate of the USA.

[WttrW2012]

nice linguistic catch stacy!

[Yamakashi1]

@WttrW2012 which one

[Richardcuz420]

Long awaited show!!! Finally here!