Peter Joseph Radio Lecture

Thank you! I appreciate it. Good to have a little sip of this water. I assume it's still save to drink in new york, huh? york and actually actually i gotta be there in a moment and we have a little bit and just like to hear the internet question anti-clinton home and we're not sure how the warrant haven't gotten a popular and again number one important make him a hundred city not wanting to be able to any guests enjoy about buying gold award doing any good but nobody throughout the local water supply nobody moon listen to the movie is beginning to come and and meaning slowly breaking down dominantly and nominated to be and one hundred and at the end i didn't have enough time to do it in the evening when they told me that endanger all systems are breaking down like what what a good thing thing that i can make them small contribution in this area myself equipment of the major in this country the whole social structure dinner beginning at noon just beginning now become a part of you you watched good afternoon everybody welcome to the october thirteenth radio address lecture three 'a profile of collapse' my name is peter arnett talk that she is the next hour on the subject of uh... social an economic collapse prophetic words movie great george carlin education was phenomenal on the way he chose to sneak in very very profoundly uh... important observations about society in human behavior it's something that i don't think any of the comedian and social observer has come forward with since carlin uh... maybe bill hicks is the closest to come into play and then you have a richard pryor and uh... lenny bruce but uh... kurland in his own field i would love that retain my first saw it it did really struck me as profoundly as it strikes me today think about the very simple notion of what it decided to use it supposed to be there system that there to support everyone water being summoned one of the most important attributes of our existence the fact that we've let it the degraded and then imagine talent somebody's sixty seventy years ago that they would be pain for drinking water in the future and the cost of that water would be more than the cost of petroleum i think that look if you like you're crazy of course needless to say hello water scarcity water pollution leads for jobs for filtration leads to industries to produce water the more scarcity pollution there is the better it is for the economy a wouldn't surprise me in the future if air pollution become so abundant that's people will have to buy special oxygen machine to put into their homes this is probably right around the corner as far as i'm concerned off the body's machines you know there's a whole lot of gas mask that people can wear out outside of special guest maps with hakim on on the meal just a typical modern life you know what shit let's just pollute everything for the sake of economic survival let's give everyone can turn let's make sure that it may be viewed out there as possible more vaccines would be generated more medical establishes more products to go along with the treatment of diseases and finally you have this subculture of people in wheelchairs at the parking lot therapy machines at their pokey month gas mask on weeding through wal-mart so they can buy the new plaza television and playstation so they can watch argue hot on fox the next night the point of this there is no value orientation to making money and they're never ever will be the more problems there are the more profit can be generated so you can do the math intuitively about the general disposition for the welfare of society when it's known deep down that the more conflict problems pollution and scarcity there is the more money there is to be made and the more jobs there are to be created it's point will be brought up in the other discussion even more specifically as we continue forward but i wanna present on the organization of um... tempest lecture i have the freshly broken this subject up into four dominant points the first point is the monetary expansion policy but is global which is essentially a pyramid scheme the second point is the basic market psychology in the mechanics of the market system itself from the internet growth paradigm the third point is d advent of technology and this phenomenon we have come to know as technological unemployment and the fort point is essentially a combination of monetary expansion policy and market psychology which is manifested what we know as wall street of the wall street derivatives market implosion uh... what leverage d bubble attributes of the system the booms and busts the nature of them and how they've unfolded in practice in theory those four points added together i'm gonna proceed talk about government collapse corporate collapse and ecological collapse of the final collapse ecological collapse of course being the true nail in the coffin everything else is basically uh... fiction that's elaborate stuff that we just invented to navigate society have no real relationship than anything governments aren't real wall street isn't real the monetary system is israel the market psychology of invention so what we have really at the core of this problem is the ecological collapse p finite resources the pollution and than any other attributes associated okay of the first thing we should probably do is to define social collapse what is collapse collapse cannot be just a singular event uh... bother to be pockets of quote collapse uncertainty sectors or uh... by division two society if you will it's really a process social collapses when system that self unfold in a manner to break down the well being of society and its constituents or to put it another way when all the indicators of in some form of negative declined meaning that no longer in a positive nature or steady-state nature they're actually moving in a negative pattern which will have negative repercussions for the species so the next thing to consider would naturally be the measures of societal or social help the menus the term societal health as an all-encompassing in uh... definition here there be three attributes of societal health that you could measure there would be your personal integrity which means your ability to get nutrition clean water your basic uh... your immune systems ability to fight cancer and all the environmental conditions that enabled that your mental health the ability to uh... not have uh... personality disorders attention deficit and many things that are in fact triggered by the environment stress relationships high stress dispositions of course can have a very negative consequences to your health both mentally and could be a logically this would be deep personal integrity and obviously you can't have personal integrity without having social integrity so they're connected i defined social integrity as depicted in our business uh... having uh... a lack of conflicts establishing trust they're being little poverty in the system they're being less of a income gap in stratification which was has been proven to be very negative the social health wars obviously are a big problem the more were there are the more negative it is student for the social integrity and then underneath all of these notions is the ecological integrity which or the resources that govern everything that we have the energy sources the ability to produce food arable land and then on the other side of pollution all the negative virtue actions that we've created and uh... the ecological integrity is not naturally a very very important part of the social integrity and the social integrity is a very very important part of the personal integrity and its brings us back to this measure that i'm to finance simply societal so i hope everyone followed up now with regard to personal integrity the that haven't seen the lecture social path ology where where i want to richard will concerns work about uh... income inequality which is growing across the world and the stress relationship psychosocial ramifications consequences of that inequality i suggest you go back and review that but generally speaking i'm not gonna make a huge treatment on this but the in personal integrity which i just to find it a cancer rates and mental health uh... you'll find that first of all the comes the mental health psychiatric disorders across the border are rising antidepressant usage has increased substantially over the course the past few decades now because argue that there's height through drug companies to get people to take them and that's fair enough but overall if you look at all psychiatric disorders they tend to be increasing especially in the western more stressful highly stratified areas uh... mood disorders depression anxiety disorders wiccan obsessive-compulsive disorder personality disorders like antisocial and of course suicide so i mean to aside from virtually doubled within the past sixty years i believe according to the w_h_o_ it was uh... ten deaths suicide deaths per one hundred thousand the nineteen fifties and by the mid-nineteen nineties with eighteen per one hundred thousand and you can imagine what it is today given the stress relationship such a phenomenon all of these things are related to stress stress is the defining attributes and where distressed typically come from the coach from social pressures comes from job stress is number the girl they committed suicide because she had her job application rejected two hundred times from various uh... businesses and she wrote a suicide note or a family strange that her value with less because she couldn't get a job this stuff is very very relevant or not to go into the treatment on that the personality excuse me deep personal integrity of the individual is definitely a risk n the other extreme is cancer of course the physiological integrity of the individual obviously characters in the only indicator of physiological help but it's a great general uh... uh... point to bring up because such an epidemic now and for obvious reasons are related to the environment the w_h_o_ predicts that twenty one million annual cancer cases will be diagnosed by twenty that's more than thirty million deaths you catch around the world by twenty thirty in that two thousand eight there's only seven points six million source team is essentially a doubling of cancer death and the cases diagnosed with in twenty years this is insane so the point here and i'm not gonna go under extended treatment is that the personal integrity of the individual is uh... in very poor shape very poor shape in this brings us to be social integrity which of course is what creates our personal integrity the lowest common denominator of social integrity indy global markets system that we all share and of course employment house employment to do it across the world first of all it's very difficult to measure that's accurately given the statistics that are provided by the united nations in the country's without going to the core of the statistical evaluations to figure out what they're actually measuring specific unemployment doesn't get the full picture you have underemployment you have people that are no longer on the books in their countries for employment uh... these measures compiled together paid a very very different picture than what you see but i'm gonna give you the standard numbers but i want you to understand that beef standard numbers aren't going to be much much worse the international labor organization the high elbow and uh... october first of this year puts global unemployment at about two hundred and thirty million now you can make which is one of those numbers far as the validity of its but that's one of the conversation if the trend that's really going to give everything away in two thousand seven there was a hundred and seventy eight million unemployed and now and two thousand nine two thousand and there's two hundred and thirteen million so it's a fairly substantial percentage increase that's happened of course that relate to the global financial crisis but there's something much more profound going on here which i will talk about when i get to uh... the issues of technological unemployment at a later point let it just simply be understood but over the course of the past ten years over all of the trend percentage unemployment has increased and what really and give this away is in fact the global poverty numbers have also increased which i'll go over next according to the world bank one point four billion people live on less than one dollar and twenty five cents a day that is the accepted extreme poverty line a dollar twenty five cents a day now generally speaking people say oh well poverty line one point four billion i guess that's not that bad right well let's go to two dollars a day people live and let them two dollars a day that would be two point five billion people living on less and two dollars a day now jumping ahead here five-point five billion people or eighty percent of the world's population lives unless spent ten dollars a day i would like everybody listening to put themselves and those shoes for a moment and we're not talking about ten dollars for food or ten dollars for utilities are ten dollars for housing or talking to now if you look at the trends associated with these what you can define it that at the very lowest level of extreme poverty things of actually gotten better but all they've done is increased higher level forms of poverty which is the way i will define it anyone living on less than two dollars a day two dollars and fifty cents a day three dollars a day for that matter where you are while you're in extreme poverty i would like any american to fly to somalia one of the poorest countries on the planet the intent to spend left in three dollars a day on your rent and i'd like to see how far you actually get the so-called progress in the war against poverty has been the complete allusion it has raised the standard of living but all lead to a level pedestal equally as absurd as the extra green rates they were prior in fact i apologize to the tension i want to bring this the level of the united states for a second in the united state the fame fraudulent to pistol model uh... of the poverty line that's assumed is in full force is well you have hedge fund managers bringing home two hundred three hundred million dollars a year while being poverty line in the united states for a three-person family husband-wife tan son or daughter you've got swatted forty-eight contiguous states eighteen thousand three hundred and ten dollars i would like anyone out there united states to try and live on less than twenty thousand dollars a year three people in your family let's i'd like to see that obviously it's being done but just imagine the state of uh... deprivation that that generates in fact there is a very quick calculation to see how this would play out uh... the average rent according to two thousand three census was about six hundred and eighty four dollars per month sorry for the outdated detente retired now buckets six hundred eighty four dollars per month for the average rent or mortgage eight thousand two hundred eight dollars a year now let's take into account energy costs fifteen percent per kilowatt hour with an average usage in two thousand eight at nine a m twenty killed what hours bring to to sixteen hundred and fifty six dollars a year so that brings their total spending power after rent and electricity to eight thousand four hundred and forty six dollars and divide that rate by each person in the household is just three c f two thousand eight hundred and fifteen dollars which equates to seven dollars and seventy one cents that day health insurance health and strength of course the star out the window in equation like this no one making the twenty thousand hours a year unless they have a good job is going to be having health insurance out-of-pocket that's for sure about seven dollars and seventy one percent today i guess if your eighteen mcdonald happy meals every meal of the day you might be okay uh... and of course that doesn't even take into account all the general problems associated with living any type of help problem the type of transport problem how to stop there well and i'm sorry fourteen percent of the american population alexander under the so-called poverty line which uh... it's completely absurd okay so i thought over the labor issue and the poverty issue with regard to the social integrity category we denoted societal uh... there are other issues to talk about what you're not going to go into such as the income gap in all the side effects of that as i mentioned prior the fact that all the military establishment on this planet are currently arming themselves to be heat if you think it's a good measure of societal help to have everyone telling our image to each other creating new machinery with the military now trying to use robotics to automated removed humans from the actual fighting if you want to keep social distortion to swing to the united states conducts a war without people actually and that one final note is that social instability across this planet has continued to increase whether it's general crime whether it's the western prison population which of course have many different variables to it but uh... it which is largely structural violence but that's for another conversation but overall view of general social instability chris patten occurring across this planet and uh... i'm gonna come back from the reasons why i'm disgusted all of this before i go to the next section for the final point of this action or bright societal health let's talk about uh... the ecological integrity or lack thereof of the current environment and the trends it's it's foreshadow now i'm not going to go into any specifics but that's because i'm gonna bring it up in the next section but let it be known that the ecological integrity of just about everything on this planet is in a state of crisis from water resources going scarce the loss of arable land with no initiative made it to move beyond the use of arable land in other words there are other solutions that can be oriented to resource depletion in general to the decline of fish in the elections to the black of interest to move into renewable energies in the systems approach to get rid of orland park il fuel which is not only damaging but will eventually run out species extinctions thousands grand amounts of pollution coming from all side the waste production uh... but wasted unique humiliation from the production props fees and the disposal prosecutor absolutely incredible perhaps use all the russia today news report on moscow hand how moscow is gaining gulfstream garbage as they take the garbage images make we held out of it so ecological integrity is uh... at risk in a very very grand way again i'm gonna go through all of this more so in a second because the ecological collapse attitude is very very critical to understand but i want to point out the reasoning for this setup uh... the issues of societal health i just gone through the personal integrity issues of cancer health mental illness stress relationships the social integrity issues jobs conflict poverty income gaps propensity is for war an ecological integrity issues resources management pollution energy every one of these attributes has a negative trend for the future none of it is going to get any better the poverty is not going to get any better the energy issue is not going to get any better we are on a downward slippery slope which will be capitulated by the mechanisms aren't about to describe left unabated will comprise the end of the collapse sequence if you will of uh... the socioeconomic system that we understand i will say as an opener the monetary system in the market mentality will be what destroys and kills everything on this planet it is in some grouper human being it is a value system cancer that has been set in motion that people believe in corral everything that might interfere with it and this prophecies that i'm about to describe the actually therein is the problem of the world of society and nothing is going to change any of these attributes in the long run and tell the entire system is overhauled okay coming back to my for points first point was monetary expansion policy the second point was market psychology the infinite growth paradigm the third point i stated before with technological unemployment and the issue of labor i'm gonna switch that around now without the wall street derivative phenomenon because that relates uh... or contractually the prior two points monetary expansion policy this comes down to the very fundamental process of how money is created the social system skews me in the monetary system and this system is used throughout the entire planet virtually without exception money is for straight out of debt that debt is very real just like the deputy let's have on credit cards or anything else money is monetize this condescension the two forms of is probably more the first stage which deals with the central banks of the world they monetize treasury securities or bonds they can modern times are different forms abundant from other countries but the second level is uh... credit we know it's credit in the edge emal notion of loans from private banks if you want to get a loan out for your home you armada typing debt that they give you so the contract is essentially monetize tissue with the contract your contract you signed to repay invents the money that they give you for your loan to buy your home or your car or anything else self-employed one money is created added and then they charge interest on this debt some point two the interest does not exist in the money supply in other words if i have thousand dollars my loan it to you at ten percent interest that means you have to pay back to me one thousand one hundred dollars let's assume for a moment that the two of us are the only people in the economy i know it's a very abstract example but how are you gonna pay back a hundred skinny one thousand one hundred dollars when there's only one thousand dollars in the entire pool of money this is what the interest of the moment on creates so every time money and loaned out from debt at interest it creates more debt that doesn't even exist in that the total money supply of any country or even politically in the world when you put the map together some point three everytime money is deposited into any account across the world i think all beef fractional reserve system of money accounting pics n what this means is that the bank can make money on top of the money that you deposited roughly india question ratio of nine to one so you deposit thousand-dollar they can make nine hundred dollars on top of that taken now alone out nineteen hundred dollars to anyone that wants to take that long that's what they call it fractional reserve thank you a myth about this is that they actually a lot of money that they get no they don't love that money that they get they based their loans upon the money that they get through deposit some point four is an extension at some point three as far as the fractional reserve system and what simply isn't observations of that every single time anyone deposits money in any bank whether central or private the bank is able to repeat that process and what this equates to an i don't want to go through the whole equation is that for every deposit that occurs in the banking system approximately nine times that amount can be created fear they're on top of it subtitle posit one million into a bank account for the series of this uh... deposit in loans cycle ninety million dollars can be created now for those that are paying attention what i've just described is a pyramid scheme to ever heard of such a pyramid scheme is where money it's put into the system to feed the necessity to pay out money at the top but the money can be paid out of the top and left the conflict comes in from the bottom and this is exactly what the system is because of the use of interest there is always more outstanding debt in the system than actually exist and the monetary creation phenomenon of the fractional reserve system only compound this and makes it worse all you have to do is take a look amount of money that the united states for example has created over the course the past hundred years and all you see is a nearly parabolic amount of money shooting into infinity in fact the federal reserve stop reporting and three because they didn't want people even know how much money they were creating because of the psychological association to in relation is a very important point will call this some point five ends which would be inflation which if you go through history everything has been inflated through uh... the monetary system i mean how to was bred say twenty thirty years ago compared to what it is today very easy to measure and then some point have increased almost in lock step with the increase of the money supply in america and why the submit perfect sense because money is created out of debt you cannot have a system where money is created out of debt and expect anyone could ever be free of the ramifications of debt and the only thing that can possibly happen in a system like this it's complete and other failure and collapse nothing can grow forever even the money supply because the end result is always the same two results deck collapsed and inflation or hyperinflation inflation has been stifled right now in our system for many reasons i won't go into debt collapses what is currently happening across the world impart because of this monetary expansion system something that no one is willing to pay for you don't hear any newscast just talk about i wonder if even the president of the united states even knows what the fractional reserve system is now people often say we'll have a fist possible how could that possibly be a system like this well the attempts have been too regulated through many different proc teases monetary expansion contraction uh... which while never stopping the expansion overall does tempo ral things to make the aleutian work central banks are there at the lender of last resort to try and tutor failure or to step in anytime failure or liquidity problems emerged within the bank insistent that job and because of this policy even the federal reserve in the central banks themselves can fail as well so they have the world bank so they can to create another lender of last resort the world today uh... it's all a big cosmic game in a big delusion none of these organizations have any actual wealth at any time there's nothing to do find wealth but just simply print money and they operate with the same basic printable and um... they work in this hierarchy they give you lose in that there's some type of empirical power and that this money in wealth actually exist somewhere when it doesn't this just bookkeeping entries why has the collapse materialized where it is now another quick question fundamental market phiri denotes booms and busts all of the room is all it is nothing do with production had nothing to do it fails all of the room is in the boom and bust cycle the insertion of more money that's being utl all the bust is is we contraction of money which usually happens from there being an overload of money within the system which creates deck collapsed or when inflation becomes a foreshadowed problem so they have to pull back a monetary expansion increased interest rates so they can curtail the possibility of inflation uh... in the short term of course because if you look at the store record again inflation is still confident which makes sense however it's not economically comparable for there to be the sessions the political officials don't want it they wanna see progress to make their institution the quake they're actually doing something positive so the market system has not been able skis me not been allowed to play out and it's real boom and bust phenomenon so what they've done is they've done that money injections every time there's a recession virtually every time and these money injections or a truncated pots which does not actually correct the inflationary properties expansion properties of the uh... additional money creation that created the boat so what you have agreed to envision the pyramid this boom and bust cycle it's riding in out the pyramid that's been riding up for a long time of the key trunk eighteen if you will the box which were never allowed to fully correct and what we are to the top this pyramid where it says okay this can't work anymore how much more debt can we go into fourteen fifteen sixteen trillion dollars american debt how about forty trillion dollars worth of american debt there becomes a point of saturation where the debt creation meaning the monetary creation cannot handle the inflationary ramifications not to mention that the debt responsibilities that are spread throughout the society systemic collapse of the entire monetary expansion sequence hats to occur it has to do with the mathematical inevitability and that's where we are now please understand something there is no balanced element here there is no way to make it fractional reserve lenin polity in monetary for it's literally impossible based on the way the system is constructed even with v most optimized form of regulation in care given to the booms and busts meaning not truncate in the past you would still have inflation then you would still have debt and invariably and inevitably he would still have collapses from them and one of the reasons of that and that ability again is because of the interest charged for each one of those loans which does not exist outright in the money supply failure is inevitable it's a pyramid scheme so what you have now is the entire world based on monetary expansion practices that simultaneously create debt more debt than they actually create money in fact the world you see around you with the result you have every single country facing extreme deck collapsed because of the road financial policies everyone's borrowing money from each other through bond sales making more money out of nothing loni netted interest the public in other countries all it can possibly do all i can possibly do it lead to more failure and more collapsed the very idea that you're going to try and solve it debt and monetary problems by making more money out of debt begin to solve anything is ah... the most hilarious thing i've ever heard of its like throwing oreo on it fired thinking it's water just to make it worse that understood now let's bring it down to the actual market psychology the actual dynamics of what we call of market itself that's buying and selling the use of labor and uh... understand how this process in this mentality if you will is for the rain encompass pounding the collapse as we theater and will continue to do so the entire market system as i've discussed before is based on cyclical consumption it's based on the assumption that instrument amounts of consumer and money circulation will continue the money moves from the consumer to be producer which divided up to the laborers which make the goods which delivers get wealth from and then become the consumer all that the reducer cycle going on and on and on of consumption the first thing to consider with this is that the monetary expansion politics just described creates a game of musical chairs where debt collapse in bankruptcy is inevitable andy businesses know this so they're exasperated a little bit more because they have often more debt requirements than the system really should require but they're always a little bit against the wall keep that in mind if the pressure of the system to be more cutthroat than they typically would be if the fractional reserve letting policy of interest attributes were not in existence so that is that particular point the pressure to keep in mind the second point builds up on that with the fact that leaves and exploitation and pollution are built right in to be modus operandi i've of seeking profit and maintaining a competitive edge maintain the competitive edge and creating marketshare transcends all environmental concerns transcends all social concerns adlai alluded to prior to have air pollution is actually profitable for certain industries that they could make products to service that air pollution to have water pollution equally as well you've whole industries now devoted to making the bottled water for people to buy at rated more expensive than oil so the more problems there are the more money that can be made and whether any particular businessmen will ever admit this it is a relevant because it built into their psychology exploitation pollution and the ability to profit office anything and everything if the overriding market psychology which will lead to systemic collapsed oriented problems in one direction or another we live on the planet of finite resources resource preservation hence the term economical hence the definition of economics should be employed resource presentation should be the driving factor of all industry isn't it's exploitation waste pollution and capitalizing on anything if possible to capitalizing on problems which you should result at the post to making money off of servicing in other words it is more profitable to service things than to actually fixes including the environment so to summarize how this relates collapsed you have on one hand i think ology that basically doesn't give a shit and on the other side you have the need to properly created consuming waste resources planned obsolescence no efficiency built into anything no need for longevity because you want to come from the service you want to look awfully by pairings deberry strategy a marketing today is based upon planned obsolescence deliberately it's right there for everyone to see and this will lead to both economic collapse and in many ways civil unrest up to exploitation practices that you see with the slave labor camps and everything else in the third world uh... we'll leave it at that as far as the issue of market mentality and move on an extended its point in fact too the third point which is wall street one of my favorite subjects uh... if you haven't seen the new wall street that was made by oliver stone i do recommend that has a lot of great underlying themes including abundant versus scarcity uh... renewable energy versus fossil fuel the fact that you can profit off of scarcity as opposed to abundance after showed within the film as an example that that it's not make any speculations but to noted that there was a uh... financial institution that profited off of the collapse of the credit default swap trinitas market which led in two thousand feet to the collapse of the which triggered excuse me in two thousand across the entire financial system and out groups were shorting that knowing that was going to happen and i uh... you can rest assured this actually did happen in reality individuals that are privy to these understandings behind the curtain know exactly what's coming with a longer period of time before shipment and this brings me to my first point regarding wall street and that is the fact that you make money on the way up and you make money on the way down people can profit off of the collapse of thermal economies in this people profit off of the classes anything people make money off of the rise of precious resources that the more they speculate upon it such as a lil the more able insure the rest of the world such as in two thousand eight the big oil verse that happen which with shutting down schools and certain regions in america because they couldn't have ford to pay the gas pills but it was the school bus or things to keep the establishment uh... yet people make money off of the bills see that they don't see the ramifications of that wall street i'm very unique invention it's an extension of the market system into buying and selling accepted cambodian specifically because it's not actually buy and sell anything real at least in the form of derivatives and i will debate people whether true investment even exists at all in the train mechanism for that really doesn't when things go i_p_o_ find him i've been invested but wants them who shares our out there to sastry hand it doesn't do anything to the company really except records false barometer of value-added straight up with the speculative aspects but they can expect comment still isn't real it still isn't real whatsoever so the first point i want to make about wall street and is the fact that it is with out any type of social concern whatsoever you make money on the way up they make money on the way down it's that simple and the failure of society as we know it will be accompanied by a select few who make an outrageous fortune during that time just like they did in the nineteen twenty-nine crash just like they did in the market crash of two thousand when the uh... bubble burst the dot com just like they did even on the decline of oil of those who were able to turn the tables fast enough knew what they were doing knowing how exasperated the speculative driven bubble was to begin with so the decline is anything is profitable the standpoint of wall street and that inanimate self is a completely psychological value cancer that is completely unacceptable to any type of society that wants to have progress and balance and sustainability and and long-term survival the second point to make about wall street is a very dynamics of became its than the games it had been spent the first point to break up with regard to collapse of course is the tour evidence market which i think everyone here must be familiar with by now there are about a quad really in dollars about standing derivatives in existence which uh... i believe the the g_d_p_ of all the current countries on the planet is only about sixty trillion dollars so aquat trillion dollars of versus sixty trillion dollars something wrong with that equation isn't there for those that aren't familiar derivatives are just financial instruments but have no actual value but derived their value evidently from something else didn't look at our just the gambling that sided nothing more than inventions that people trade and the reason that that market became so inflated with because of the in heavy use of margin the incredibly heavy use of margin urinating these investments over and over and over again in certain instances you could have fifty two hundred two hundred to one margin in instant that means for every dollar you put up fantasy bag puts up two hundred dollars on top of that one dollar that's just insane and if you can see how such outrageous amount of value could be created up to acquire trillion dollars the irresponsibility of this is so profoundly incredible because that money i have to be real that money have to exist at some point to pay back everyone that requires one to be paid back including the banks that loaned out the money to begin with so of course if there's a pr problem and there's a substantial law to anywhere in this chain of causality subtly everything gets triggered and you have this outrageous amount of money owed to all these other people that can not to be paid back and had the domino at begins i'm sure by now everybody's familiar with the housing market collapse spotlighting to go into the pool chain of causality but there's something called a credit default swap which was sort of an insurance policy which is a derivative and very largely traded tourism used in a few different mediums was one of those chains of causality that lead to the need for massive bailouts of the economic system and institutions like bear stearns now i want to be labor this but the point is very simple to derivatives market bubble as it exists has you haven't even come close to collapsing in the way that it likely will fairly soon housing market is not done collapsing with all of its mortgage-backed securities and collateral debt obligations and crept up all slots angeline as well there is eight outstanding time bomb waiting to burst within v global derivatives market all it takes is the right combination of the faults and failures in need responsibilities for payment and when you were a member of that the group's behind these trade are not just individuals that massive institutions that stretched uh... tentacles into almost every major industry the t_v_ industry the crisis that has emerged from the entire wall street phenomenon a book intrinsically internet itself and the use of these gambling derivatives that uh... it should have been outlawing two years ago but even if they were outlawed it only would loosen the um... the pressure of the problems that's generated by wall street and of itself the final thing i want to talk about with regard to wall street india phenomenon of bubbles in the investment community uh... from the tulip mania many centuries ago in holland where people were trading tulips up too outrageous prices based on now intrinsic value whatsoever you can't heated to look that will eventually decayed yet they go for the product they were going to the price of homes you have these bubbles i continually occur in society uh... something i had you have the dot-com bubble investment speculation everything constantly going up which we know can never continue then we had the housing bubble of course we see where that that today and the next bubble it's hard to find a believe it's partially the derivatives bubble but uh... it's a little loose right now because of the pressure on the system overall perhaps are not up to speed up where the bubble is at the moment but well quite a bit out of that the correlation of monetary expansion policy to bubbles when money is created enough surplus subservient federal reserve tonight eleven lowered interest rates to one percent and family alta bates jump in and take tons and tons of loans and in taiwan leverage do their investment attributes uh... this might have to go into isolated factors and and it just happens to gravitate in certain sectors to create a bubbles it is one of those characteristics of the system that is only problematic and xm again a reminder of the fact that we need to be in a steady state economy and get away from all this bullshit where these absolutely bizarre ads inflows in the crate aspirations illusions in in a very religious collapsed and the injure everyone except the select few that are on the inside the point zero zero one percent dot can make the money and all times after these collapses not the public the public always loses the public will continue with the wall street wall street is not designed for the public to gain anything except the very subtle mutual funds which as you begin to see very soon as more liquidity gets put in the system and inflation increases the market will begin to kept the only reason the market in the united states has been pain maintain the average is that it does is because of the perpetual liquidity being injected into a system which actually goes into the market system and back to my point creating bubbles that's what it does so bubbles are surely destructive as my point uh... much on for a little bit on this but wall street is a time bomb it's an atrocious idea its extension of market psychology extension of we call them free-market the free market is wall street if anyone tells you otherwise they're not paying attention to the special mechanisms of what the free market represents and i want to add up to the side that the only way you can save the free market is by periodic interventions of socialism the free market invariably goes beyond the point of never turned and it will continue to do so over and over again whether it's dealing with wall street whether it's dealing with companies that uh... just beginning more more alone than eventually go bankrupt in that large enough businesses that can't fail so that we bailed out by the united states where that even mean to let me know if sweep it under the carpet the art state doesn't have any money none of this i held delusion becomes clear and i would have to leave it there and this brings me to point four of this section if i remember correctly and that have to do with labor and technological unemployment this'll be a little news gear shift from the prior subjects but to actually out of here basically go back to the second point which have to do with the market's distance typical consumption the need for cheap labor out of anything you want to have cheap initial implica resources that you can utilize to retail cell at a competitive price and make as much money as you can't articulate where should be as cheap as you possibly can get it to be that is a natural mechanism of the market system that is why we use slave labor and the third world and that is why mechanization the use of machines to replace human labor is growing that rapidly across the world as well as specially in the west the issue of technological unemployment has been a debate for many many years and of all the books i've read on at the general economic conclusion tend to be very shortsighted though probably accurate for the time period and that is that dinner is displaced labor but eventually that labor manifest new skills and it's been played somewhere else what's happening now very different what's happening now that the rapid increase of mechanization and technological capacity in computerization excuse me the rapid increase of technology is outpacing any form of uh... relocation of labor and this is becoming common understanding now in an l_a_ times article of um... october fourth called automation is increasingly reducing u_s_ workforces it detailed exactly what the zeitgeist movement mcginess project in shock fresco even that even the technocrats have discussed for years and years and years and that is the reality that technological innovation is becoming too cheap it will continue to become too cheap and to efficient no need for vacations insurance healthcare and hence humans will continue to be off set by mechanization there's a quote in this article adjust for men stay for mentioned article by allen danielle e chief global economist at decision economics in boston and it states outright if cheap technology is available you substitute technology for people that's true and that's fundamentally at principal of the market system and what you have here is the what their some economists have called b contradiction of capitalism and this is a staple of the failure of this system the failure of the market system that failure of the idea of competition and labor for income and everything else failure of the intricate mechanisms of the so-called free-market labor market system is occurring right now because of the technological innovation of machines in fact i want a quick with israel that more of this article if you don't mind because there's a certain statements registering so beautifully true with everything that we've been talking about defense quote crisis is a catalyst for change with their businesses hammered by nine eleven airlines cut labor costs by switching to computer kiosks to check-in customers said greg whose ex-president of retail technology consulting firm i saw a group other industries such as restaurants and retail stores are speeding up speeding adoption of these machines about three hundred billion worth of transactions moved to such kiosks in two thousand six that figure is expected to be four hundred d five billion this year and seven hundred billion but twenty-four kingdoms accent he and and eighty a san diego company that provides self-service kiosk to restaurants including jack-in-the-box hesina quote dramatic increase on quoting interest from fast food vendors and the last eight months said to bring christianson vice president of sales a m not pm and eight the company we through the machines restaurant fagan and big up-front costs because of the n_ it is being driven by the opportunity to increase sales without having labor or food cost christiansen and it's not going to stop and teaching the more the economic collapse occurs the more mechanization come into play the clincher here which is going back to the contradiction of capitalism is that every human being that displaced loses purchasing power therefore they can not go in the body the good being produced by the machine that replaced in in other words you have all these machines making goods in abundance cheaply but yet you have a population that can afford to buy anything because they have no mud no jobs and therefore they have no money no income so bowman that phenomenon in another to present its slow grinding halt with the system that we understand and uh... it's going to be very interesting to see how those dynamics play out film i'm going to talk deliberately about the application mechanization about what's possible today and that and of course what's happening as well uh... there is still a moral issue if you will have to current society where a lot of corporations are not recognizing because they're still trying to keep the image that they support the labor force and that they're you know american and made in america live american workers or whatever and uh... i'm sorry to say that i have the recession continues the great recession which will lead to complete global depression if it isn't already i would have a definition uh... mechanization will continue and be romantic notions of human labor well not only be too expensive uh... and we found that it's simply too productive to make good without him and labor in fact that's the final point i want to make on this issue and that is the reality of that the more we mechanized more productive it is it is socially irresponsible for us not to move into deliberate mechanization hence the removal of the entire labor a market system okay those before central attributes i want to talk about monetary expansion pyramid scheme which will collapse from its own weight intrinsically the market psychology that doesn't give a damn analysts point resources and uh... challenge every aspect of decency in our society beat ecological unemployment paradigm which will make it this is going forward one way or another and the accent none of the wall street uh... phenomenon in the derivatives bubbles and everything else that simply add fuel to the monetary expansion policy which is of course adding fuel to the global debt crisis uh... there was a new release by the action p that i think by twenty fifty sixty percent of all countries will be defaulting on their economies uh... they'll probably a lot of earlier than that in fact i mean if you really pay attention to what's happening with all the countries in the world everyone's broke everyone started to falter london evening the default give every country in the world boeing money to every other country in the world what the hell is that what is that expereince sanity and it's only going to lead to more misery and destruction as everyone tightening their belts for this fictional idea known as debt which doesn't even exist to begin with the only solution that can happen if i was at the u_n_ i'd say with some guys we're gonna arrays all in government debt right now no one does anybody anything and that's the end of that obviously if we did that and guess what the exact same problem what happened because that's what this system creates so you really can't just get out of it by erasing everything because the system is still there you have to change the actual system okay really quickly come out of time the other acts of university ecological collapse which is really what the true collapses everything i just mentioned is crap human beings have invented and we've created this ridiculous paradigm where we actually think it's really think money and that's really haploid obligations to each other based on nothing but fantasy uh... i'm asking to go through this really quickly because i'm running out of time but uh... water scarcity is approaching crisis levels in the third world it is already actually and it will continue to do so in the western world energy resources we have maybe thirty years before true energy panics arrives on this planet because i mean we're running out of energy in a very literal way it means that this psychology of understanding the decline of oil and hydrocarbon energy and will have such an incredibly profound impact on the way the markets work the price of oil going back to wall street do you think uh... you know how many dollars a barrel bellicose two hundred dollars a barrel and all demand is destroyed across the world because no one can afford it this will happen in one extreme or another you can count on it because that resource declined is inevitable one way or another an overall we have general resource pollution that we have all sorts of deforestation problems but fish are running out we have the pollution of the fish you know anyone that want to take a moment to look at what we're doing to this planet look at what we're doing to each other uh... it doesn't take much research to see that everything is in decline species spasms and everything else also important to point out that mankind is now using our resources an alarming rate the establishment production methods we have the wasteful practices we have have now are generated a brace you know we are now using of one-and-a-half earth is every year that's part of what is created by the earth as reported by the global footprint network uh... this is just profoundly scary when he put it into perspective at the salvation of uh... this lecture the market system in the psychology president fueled by the monetary expansion policy in debt restrictions exhausted an exasperated by the makeup money on the way up the way down wall street mentality which is an extension of the free market psychology the ticking time bomb of the derivatives bubble coupled with the government collapses and the ecological collapse as they are in is what will lead to not only become laps of this system but it left unabated fall of human civilization as we know it and i've had a kandahar everyone next