York area. And i dont like it like. Walmart corporation behind sams club quietly announced the closure of at least sixty three sams club Stores Across the u. S. The same day within twenty four hours that they praised the new g. O. P. Tax overhaul which was according to this administration supposed that all corporations afford to create more jobs not as this move by walmart did remove nearly ten thousand jobs in the american marketplace according to a press release from walmart their focus has been on these associates in their communities and communicating with them. Taping a sign on the door yet those very words contradict walmarts actions and if youre wondering why the way walmart treats its employees matters is because walmart is one of the handful of private and public organizations that lou kind of literally sets the tone for employers around the world walmart is the Third Largest employer on earth keeping two point one Million People in jobs around the world the only organizations that are bigger are the Peoples Liberation army of china with two point three million employees and the u. S. Department of defense which tops the list with three point two million Workers Worldwide habits guidelines the culture of workplaces comes from the top not just the top of a company but also from the top of an industry i mean why would a business with fifty employees care about making sure theyre building a loyal staff with places like walmart and mcdonalds can pollute lands take advantage of poor workers to bulk up their bottom line and and all do so well profiting from taxpayer funded subsidies. But then why would the worlds biggest private employers care when the worlds biggest employer the u. S. Department of state takes such unbelievably bad care of its employees asian orange to iraqi burn pits jobs in the military a deadly but what is so unsettling is that despite massive increases in funding they have not raised the working conditions salaries benefits or ongoing care of our nations military veterans and Public Servants so while we can be furious at walmart using the much maligned g. O. P. Tax overhaul to ben as a benefit to bulk up their Real Estate Holdings cut back on expenses and remain competitive can we really be surprised when the Worlds Largest employers have no shame in using human beings to build wealth while ignoring the humanity of the people who make them rich and powerful and rich powerful and wealthy is kind of a navy blue game today im watching the heart it really blows my mind i didnt realize that a. Ten thousand employees you know youre a big company with you close sixty some stores and ten thousand people lose their jobs thats thats a town. Thats multiple in the higher town kind of my home town yeah yeah its sort of hard to watch because while the one hand you see a corporation once again which you know thats capitalism not so suck it up buttercup thats cover them good thing is that yeah of course somebody wants to make money of course these things are going to happen of course theres only going to be so much but i think its just the way they did and that was unnerving. And the thing about walmart i think that people start to stand like were talking about how many i dont think a lot of people know i mean when you look at the chart of the top four employers in the you know on earth and theres your top four. War. War war. I mean its all there it is you know the the department to found this is worldwide we are u. S. Military is the largest employer. Chinas military and then. You know and whats really frightening about that list and as you brilliantly pointed out is the. Military u. S. Military number one ok we see how they treat veterans and soldiers you know v. A. Hospitals are. Taking care of the vets when they get back its been a mess everybody you know everybody saying that i dont know how china takes care of its soldiers sorry a lot of things i dont know i dont know. But then when you look at like walmart and then the next on the list is mcdonalds that means three out of the four on that list all have absolutely atrocious history of taking care of their employees rather like you said where theyre underpaid no retirement nothing like that blows my mind. And thats top down. Like you pointed out man. They dont take care they found ways better when they know that the big dogs at the top dont care either well theres this idea that i would whether its public or private and i think thats the idea when you look at those numbers theyre supposed to be job creators that was the whole point was lets give capital to companies so that they can you know share at the heart of the idea but really what theyre just trying to do is as has sort of hedge their bets on a real estate deal actually the sams club c. E. O. John furner said that some laid off workers would be redeployed to nearby locations so to see you know that two of the sixty three locations are said to be repurposed and ecommerce two of the six. But i think its very funny that its like well redeploy theyre even using military jargon the idea that someone would think that its appropriate in leicester in the military you dont just tape somebody signed to someones door and they show up and say this is what youre doing and. The fact that they were probably promising wage increases yet so yeah they were aware they were going to raise that year and one out of one side of them out there saying look were going to raise minimum wages to mine to eleven were going to give people bonuses were going to do this were going to do thats. Less than twelve hours later they were like oh yeah and on top of that i. Will but i heard they were they were just doing it like in response to what their competitors did because their competitors like raise wages like you know whatever a little bit before they were fatal they were sold as the yard game anyway at the end of the day sir you know and whats really interesting to have is when we were talking earlier about how this is a long history in the United States oh gosh its back been having labor versus management. Since one thousand nine hundred exactly well before and there is and the thing about them is that theres this one this one area where you really see. That how how hard the fight was and of these people really put their lives on line i mean we talk about coal workers and saving coal not as save coal but coal workers back in the in the twenty is such a stage for a lot of labor and a lot of labor issues in this country there was actually a organized labor leader from the one nine hundred twenty s. Well into the sixtys john l. Lewis he was a we said quote workers have kept faith in american institutions most of the conflicts which have occurred have been when labors right to live has been challenged and denied and heres one you know thats coming here it is in the twentys and thirtys theyre still fighting that thing of we trick is that the worker trusts the institution they trust this idea back in the days of carnegie or whoever you know this is a guy with a were going to were part of this one way or the other and its when the institutions like a walmart say we you cant have both im going to not give you full time employment youre just going to show up. And were going to pocket how much money for the side of capitalism and theres a lot of real debate right now among especially amongst like millennial is and activists people like that is do we will cap. Capitalism work in the future you know is this really is the staining idea of how we go about our business because clearly its eating the world alive right now where weve gone too far and thats why as i mentioned at the top of the show this letter from the man running like the Biggest Investment Firm in the world is now saying all right corporate c. E. O. s its time because governments. Are calling on governments in this letter saying look governments have failed to prepare for the future for their people you know and thats retirement infrastructure training people to get ready for automation worker retraining because the government has failed to do that corporations need to step up and do that and he handles the lifeblood the investment money that keeps a lot of these major corporations up and one point seven active one point seven trillion active investments is coming you know i think its incredible given the work i mean this is one of those things that i feel positive about it because i think the Younger Generation the generation x. The millennial theyre not going to like. You know our parents and our grandparents and our great grandparents did have just fine the thing that the chip stock thats going to want right theyre going to invest in companies that they feel have found value thats the big question since this letter was released which you know i think the New York Times that i probably you know set fire to corner offices and movement in a mall across the world because i was like whoa this dude say it and then i have a conscience about yeah you know and whats going to dictate what is you know whos going to dictate whats good works whats bad works you know theres a lot of questions so i love that anybody that said heres an idea does it bob people right up until people pour probably not going to be on the list whats interesting is his letter could you know be taken as a threat a lot of people are is that they might not invest in companies that they give a bad rap to that and black rock the company is literally doubling down internally on corporate government Corporate Governance increasing the size of the team by a hundred percent who judges Corporate Governance so they look at for like who they want to take these super rich moneys and people that rely on them to make that money where do i want to put it theyre now going to have a checklist saying look if youre not if your company isnt doing enough good public good were not going to give you any money so its going to be interesting to see if this is p. R. If it plays out it will definitely be interesting to see how i does go to break our questions dont forget to let us know what you think of the topics to cover them facebook and twitter see our full shows at r. T. Dot com coming up sunstone talks wealth inequality with Donald Jeffries author of the book survival of the richest. Stay tuned. The two thousand and eight economic crisis turns some countries into pigs these are the countries with weaker economies. Needed austerity policy is if you are in a situation of low bloat even the recession austerity is a very bad idea it doesnt work and it makes millions of people very unhappy those who are unemployed see their wages decline almost a decade how good are the results. By the People Living with the wider albeit people with you what i. Believe will be she is i mean to for legal. Challenge. She was always the case she somehow theyre not getting her back. While the same mission is still in place who want the consequences to weaken bluebirds. Well first. Of this is the truth the consider is the consequences are actually quite acceptable to the decision maker. Max keiser financial Survival Guide stacey lets lurch us out fill out lets say im a strike and youre fleeced. Of the fight wall street fraud thank you for. Destroying thats true. Lavery. Medication is widespread on the u. S. Market a frequent cause of death at that point in my life i just felt like everything was ashes my family was literally coming unglued i had actually planned. To commit some sight what or who has made antidepressants so commonly used we were doing what the doctors told us to do we were being responsible and what other. Real side effects. This is true because we all just what i did was done on a cocktail of illegal drugs. Just because something is legal doesnt mean its going. To many around the world even United States is historically represented the land of opportunity a country built on the dream that one can start from nothing and with a little hard work become everything but underneath that most american of dreams lies a much more sobering economic reality researcher and author of the book survival of the richest Donald Jeffries explores just where the collective wealth of the United States truly lives and recently he sat down with our own sean bell to discuss his latest book on jeffrey thank you so much for joining us to talk about your book survival of the richest and actually i want to start with this statistic which kind of shocks me well i guess its not too shocking but still its a marked fall for United States from they to eighty eight economists right this is the best place to be born to today its about sixty eight on the list what are the major differences that allow that kind of fall well if there is a disparity in wealth is the major differences we see when the alarming statistic is a lot of alarming statistics here come out since i wrote the book but i read recently where fifty percent of the people in america now but the bottom half make less than twenty seven thousand dollars a year thats just thats amazing and thats half the country and you know less than twenty seven thousand you cant live on almost anywhere and you get to get an apartment on that kind of salary let alone less than that so and we argue that less than the bottom fifty percent is less than one percent of the collective well so i think thats the main reason why this is becoming i am not as great. A place to live as it was for a long time is a fact i mean obviously you can point to things like the inflation when it comes to rents inflation when it comes to Health Care Education these type of things your food but then when it comes to become wage were basically still fighting to try to get ten dollars minimum wage when in fact in a way should probably be closer to i would say twenty five to thirty dollars to actually reflect what it used to be in the seventys time period for example right and i think thats thats the main problem is that the politicians are ignoring is that i think the main issue in america is that the the vast majority of workers are not being paid enough to meet the cost of living and as you mentioned the cost of everything go up and even in Something LikeSocial Security they dont factor in the cost of food and housing when they get their very small yearly raises and who knows whats going to happen so security now down the line with the fallout from this tax plan but people you already have one hundred close to one hundred million americans of adult age or unemployed which somehow adds up to four percent unemployment under i dont know what kind of common core math that is but it does not up in my book and then you have the people that are working half of them are making twenty seven thousand or less so its a great disparity between people who are top that are doing very well incredibly well and continue to do well and the people who are really eighty percent of the public its working there is just struggling living i think seventy some percent of the people that are living paycheck to paycheck and you just you can i dont think that adds up to a first World Economy and certainly doesnt add up to what it was fifty years ago or yeah its really god thats more of a description of a third World Economy than first world but you know i mean the question people would have theres those who say for example well. You have people on the dole and theyre just lazy and its a pull themselves together and work hard i mean what is it that the rich are doing to allow themselves to continue to see. Huge amounts of profit lets say for example or you know paychecks in the millions of dollars on the on the enable basis what is it you know what is it that keeps them in that class well i think. One of the things that donald trump said that resonated with people was talking about it was a rigged game and he didnt know because you know he was born to a multimillionaire so it became much easier to become a billionaire when you start out life as a multimillionaire the system is rigged for that point and survival the riches everything is in favor of the rich from things like the rich pay less recline shirts for instance because they dont factor a factor in certain things that favor them and certain things and dont save reporter drivers. And get rich get so many freebies and things like that and its this is them is backwards and yet as you mentioned that we have this mythical welfare queen type mentality that comes from the days of reagan who talked about the welfare queen and i think theres theyve never been able to find these people i dont think anybody is people are certainly milking the wealth server system i imagine but theyre not getting very much out of it if they are you know gaming the system theyre not becoming millionaires whereas we have so many people c. E. O. s getting these huge goldman bros and recently n. F. L. We saw the n. F. L. Is is folding like a stack of cards and you know their ratings are down their business is doing terrible Roger Goodell recently basically threaten the n. F. L. Said raise my salary and give me you know whatever it is how many millions for a life and give me my family and i completely Free Health Care and i believe they caved in to him and that makes no sense in a free marketplace because by any measure hes done a horrible job hes running with what i could you know a golden egg into the ground and we see this story clee with so many c. E. O. s who sat with Carly Fiorina who you know ran h. P. Packard into the ground was given a forty Million Dollars goldman relative go on and then sell qualified to run for president so i think thats thats the system we have is that the the very wealthy are the most entitle them and yet the poor are the ones that have this reputation of theyre lazy and they want some and outs and so forth but the rich actually get the big handouts whatever handouts happens at the bottom are very small and just enough to live on precisely i mean. You know weve seen for example situations like walmart employees who base. Clee are making minimum wage in sub that and then theyre basically having to get food stamps to be able to. You know have to have a you know have food because they basically cover trying to cover their rent and their basic costs of living and there was a time when we had labor unions in this country and it was as though the capitalist class really went after the idea of labor unions as though it was too many freebies you know to pay too much for labor were paying too much on health care and other you know pensions and things like that. Is that i mean is that really one of the major reasons that we dont have that we have seen this kind of disparity this country is because weve seen the collapse of the labor unions i think thats one reason thats why as i believe it really began with reagan in the air Traffic Controllers and going to see stood up to them with a great deal of americans were short sighted because i mean i never belonged to a labor union but i knew people who did and back then the presence of labor unions raised everyones salaries because the competition i give you a perfect example that people that work in Grocery Stores i know someone that was a cashier at safeway back in the early eightys and was making thirty five thousand dollars a year which is a really good salary back to that same job today probably pays eight dollars an hour or so same company same job because what happened the union they had a strong union back then and again the presence of the union and i dont know if all the Grocery Stores unionized but the ones that werent in they realized this is the going rate and thats why you have everything from immigration to visa workers and so forth all this has an impact because once the wages get lowered for some people if they will work for that that kind of wage then it becomes the standard and you have to accept it or not and it just i dont see how americans dont realize that you know the living talk about living wage is cliched but you you have to be paid enough i think Bernie Sanders said no one should work full time and you know be in poverty but we have that situation now half the country is making twenty seven thousand dollars or less thats an awful lot of people that. You know theyre not living any kind of middle class life a little on the first world life and what we see then from trumps tax plan i mean what does that mean theyre supposed he basically is taking a lot of the the Tax Deduction this far as the corporations are concerned with the intention of creating a good deal about economics right trying to bring Corporate Tax money start corporate dollars back into the United States trying to repatriate that money but then you also hes i think trying to sickly give a little boon to the middle class and lower class by saying well everyone will get a break for the next basically seven ten years. Do you see this as something that can be productive for the economy or is it really just playing a sort of a token tip of the cap to the to the regular common man and most of it is going to the corporations i think theres probably i think i think its a trickle down type of like tax plan where we see the most obvious benefits come in the Corporate Tax rate being slashed dramatically from i think thirty thirty six to twenty one percent or something thats permanent too because of the individual class tax cuts i believe only fall twenty twenty five no its going to happen after that and of course the top tax rate was cut from thirty nine point six to thirty seven percent the last minute during a compromise the other tax rate im not sure i dont know how my tax rates and ill have to see when we do our taxes but theyre changing the standard exemptions theyre limiting lots of deductions what theyre doing to real estate is awful theyre going to cripple an already struggling market with the changes theyre making there theyre limiting deductions like for Student Loans and you know there are so many bets the biggest debt we have in this country on the average student loan is thirty two thousand dollars youre not going to be able to write that off anymore and. Deductions for alimony are going to be eliminated a moving expenses im not sure all the business expenses but if they translate into realtors and other type of sales people its going to crush of that kind of industry because people depend on writing all their expenses off to be able to make a living so and for trump is a real estate magnate to do that is east. Ironically i think well have to see what the fallout is from that but just judging by the people who are cheering it. I think its very reaganite like what he did in one thousand nine hundred six which was disastrous for someone who was simply realize how important it was that time he a woman a did very limited all the deductions that had for Consumer Credit so thats what you could write off credit card auto loans personal loans things like that and in fact the minute impacted the people needed those type of loans which are dinner at the bottom so that seems to be what happens all the time is that the greater benefit happens to the top and they just assumes that some magical way these things will trickle down and i dont see much an occasion that they never trickle down to. 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Nice dry. Left left left more or less ok stop thats really good. For you Global Economic war is unfolding in the realm of education the right to education is being supplanted by the right to access education alone Higher Education is becoming just another product that can be bullish and sold but its not just about education anymore its also about running a business and what you know most of the regime look good its also not true. I literally couldnt. Want is the place of students in this Business Model for college i was more now im an extremely more High Education for the new Global Economic war. The two thousand and eight economic crisis turned some countries into pigs these are the countries with weaker economies that needed austerity policies if you are in a situation of flow bloat even the recession austerity is a very bad idea it doesnt work and it makes millions of people very unhappy those who are unemployed see their wages decline often almost a decade how good are the results she saw in your interviews with the by the people gathered in which the wider world beat people with your daughter julie a choice letting traded be in full view she ate at the still plum it was i mean to for legal. Challenge nothing more than that she did not know it was always the case she standing there and not getting paid while the same measure is still in place to one of the consequences used to weaken blue bird flu dismantles will first be one of the sutra of the consumer business the consequences are actually quite acceptable to the decision maker. When. The were youre actually on the air with. Turkey demands that the u. S. To end its support for syrian kurds i made a spat between the two countries over washington trained border forces. And you leak from the fancy bad Hacking Group obtained by allah t. Raises concerns over how doping cases were handled during the rio and then takes in twenty sixty. Plus twitter says it will notify use those about russian trolls raising concerns over how the social media giant will identify the account