But your hands up in the honey badger dont care. Honey badger dont care oh thats a good honey badger really nice so theres no she might have heard about it called honey badger dont care honey badger approaches and fights anything if you go on youtube and youll see a thousand videos of honey badgers in the african savannah and they fight anything they fight lions tigers. Any sort of creature you can think of down there theyll approach and start fighting even though its like a little ferret looking sort of creature beaver looking creature and it fights whatever so when no matter how horrifying the creature you know a lion looks pretty scary right this guy looks pretty scary you know ive seen photos of those blobfish they from like way down deep thirty thousand feet below and that Charlie Munger is uglier than a blobfish thats a magic ball you know as wife is the one putting the paper bag on her head you know what this guy looks like tapeworms got hit with an ugly stick Charlie Munger urges regulators to ease off wells fargo blasts bitcoin. Badger dont care charlie theres a Charlie Munger approach to economics its own quickie. Boom boom boom boom boom quacky very much in a word to rehearsal well you know ninety four. This and i say this is Charlie Munger approach to economic blown holes through wells fargo through fargo through out the terrace Charlie Munger and Warren Buffett tourist a marriage top photo i showed that was from a tweet from reuters berkshires monger urges regulators to ease up on wells fargo. Oh so you know before janet yellen another honey badger left the Federal Reserve bank she did basically force them to replace three of their directors because they themselves were unwilling to basically get a better attitude about all the fraud they had committed you know they had set up all these fake accounts for their clients in order to basically meet some targets and get better bonuses but they had also been found in this kind of got overlooked because it happened in the summer when a lot of fake russia Great Stories were happening but also between started to take off the back of more press but they had also been found to have basically forced auto loans Auto Insurance onto those who had auto loans from them and it was fraudulent that basically these people didnt need this product and they didnt realize that they had this product and so they ended up getting their cars repossessed so basically janet yellen forced them to that was on the very last day she forced them to replace their directors and now charlie monger is all upset that as the largest shareholder of wells fargo hes using his position to try to badger honey badger the you know the regulators to ease up on his investment. Is the largest shareholder he had Warren BuffettBerkshire Hathaway wells fargo wells fargo was caught in equivocally stealing from millions of customers wells fargo you know going back a few years theyve been involved in numerous scams they got bailed out of course during the two thousand and eight crisis a crisis emerged big coin a selfregulating true money a substitute that would put the Charlie Munger is a warren buffets under the bus because theyre parasites and just take from a cut from the economy that adding anything Berkshire Hathaway adds nothing to the economy it extracts from the economy its a tapeworm on the economy because it is sound money so naturally its like a. Rowing tears of the wicked witch of the west in this case Charlie Munger is the wicked witch of the west and bitcoin are the tears actually called noxious poison which it is exactly it is you put poison down to get rid of rats who were eating infesting your house and here theyve the sort of this banking activity which by the way the activity that wells fargo was engaged an opening for industrial scale fraud thats what it was and they got fined a bit of money like two hundred Million Dollars for opening these fraudulent accounts he says of course wells fargo had incentive systems this is what they call incentive systems that were too strong in the wrong direction and of course they were too slow in reacting properly to bad news but practically everyone makes those kinds of mistakes monger said and its because it was just the noxious poison and it is the noxious poison to this sort of system this fraudulent system which is opaque you cant see it that these people until years later that these people have been committing industrial scale fraud and then the regulators come in and they tap them on their little wrists and nothing happens well destroys that but they keep ninety cents or for a dollar they commit they pay ten cents and fine and Charlie Munger saying the incentives are out of whack its mis incentivized the way that the structure of the banking work banks work its true across the Banking Sector its true cause the central Banking Sector is how Charlie Munger has made money when he and Warren Buffett call big coin the rat poison thats correct and he is the rat Charlie Munger is a man a four year old rat Warren Buffett is a big fat rat they are their predators and right and this is just characterize fraud as miss incentive thats like saying that you know the guy who goes into the liquor store and robs it blind it kills people Whose Mission incentivize he just went in there to get a pack of cigarettes but somehow as incentive structure was messed up but he end up killing a few people and stealing a bunch of money but we just. Going to find him ten percent of the money you stall stall thousand bucks you got to give one hundred dollars to the government is a fine they can keep nine hundred theres no culpability for the murders in this case you know these guys are actually causing widescale social and economic unrest is leading to all kinds of malays and destruction in the economy and gas is not pull pot above but private equity well this is the thing about the wells fargo scandals first of all let me conclude with what reuters says about it and look listen to their wording about this the San Francisco based bank has been beset by scandals for deceiving customers such as by opening an authorized accounts and forcing them to take out Auto Insurance they did not need so the thing that cannot be calculated is how much stress it caused some of these people maybe they were Something Like twenty thousand car repossessed sions that happened because of this that goes on their Credit Scores how do you fix the Credit Scores of these people and heres an economy where literally if you dont have credit in the u. S. Economy youre youre dead youre here its like youre cut off from the grid so theres no way to calculate how much damage that has done so you know these are truly mongers a frustrated genocidal maniac and he knows hes not long for this world so hes spending the last few weeks of his life of a centrally thumbing his nose at everyone whos trying to apply the rule of law to this recidivist criminal banking terrorist that has murdered people indirectly by abusing the system and its a shame that the media in america waste his time pointing the finger at countries involved in sowing elections where theres absolutely nothing but smoke to it and they ignore so what is side the country whos actually who are. Destroying they go oh we dont care about that because hes employed as you clearly was bloody war and theyre so sweet how bad can they be theres such a nice old gentleman you know meanwhile you know theres a lot of people in paraguayan elsewhere. That were involved in all kinds of other nations doing that just a story that you know theres actually a great piece of the nation which will cover soon but it covers the Berkshire HathawayBusiness Model and what they do is they invest in companies that have monopoly power so they themselves invest in monopoly power which is antithetical to the american ideology of free markets so they themselves Warren Buffett says he utters these words says that he invests and moats if you have a moat that keeps you from your position is protected your monopoly Pricing Power he invests in that in terms of what janet yellen did on her last day in office here she says a well fargo rehab requires a change at the top last friday and danielle is last day as Federal Reserve chair the regulator slapped the San Francisco based lender with sanctions for poor governance compliance and Risk Management relating to abusive sales practices that culminated in the creation of millions of fake accounts and inappropriate charging of Auto Insurance and mortgage fees the fed also took the unprecedented step of prohibiting wells fargo from growing any larger than its total asset size at the end of twenty seventeen or two trillion dollars without clearance from the central bank ironically this sanction actually provides an element of cover for the lender which has found growth to be a challenge lately so theyre not allowed to expand because theyve they apparently cant do it without committing fraud so janet yellen on our last day did actually do something worthwhile and she. Of course had to do it on our last day because otherwise Warren Buffett would have had removed anyway from the fed exactly the quid pro quo on the last day but lipstick on a pig purely for cosmetics window dressing and the overturn it quickly because these people have enormous sway in government and they run the legislative process and they will be unwound any penalties for wells fargo and ill be back committing serial fraud by the Second Quarter of twenty eight inc were going to get into part of the reason why she did this is because you know theyve committed these frauds against their customers the fake client accounts and the fake Insurance Products but they still havent offered rest. Situation but for anybody who is owed less than one hundred dollars so they still like thousands hundreds of thousands of americans that they owe restitution to but i do want to Say Something about honey badger that we have a friend Steve Beauregard who we saw down in kent coonan at the such as she round table hes with gold coins and he was just a safari in africa and he asked the safari guide hes he wanted to see where the honey badgers are and the safari guy was like honey badger is usually people want to see the elephants the lions the tigers the giraffes like what why do you want to see honey badgers and the guy hadnt heard of being by the fiercest animal on the savannah is the honey badger you know and of course the Charlie Munger of the warren buffet there is a good decision to mediate out of existence or they just croak. When they both have said theyre like theyre not long for the world. Well ok so wells fargo screws customers yet again now failing to make right and abuses Elizabeth Warren demands answers so wells fargo is getting get more deserved bad press Gretchen Morgenson and emily glazer of the wall street journal reported that the bank was making a hash of the customer restitution at a promise to make in connection with his various scandals again i hate that they always call everything scandals or crimes like these are crimes they committed but even though the press firestorm last week was over the banks fake accounts the much bigger payments to customers and the ones it is messing up involve the forced placing of Auto Insurance which in over twenty thousand cases lead to car repossessions and charging unjustified fees in connection with mortgages the journal story got the attention of Elizabeth Warren who shot off a letter to wells fargo c. E. O. Tim sloan demanding answers again tim sloan was made c. E. O. After the previous c. E. O. Was forced to step down finally after many months of and all sorts of Senate Hearings and finally they forced him down tim sloan was the former c. F. O. So he was in charge during all these crimes he was still an executive during all these crimes so janet yellen had been basically suggesting that they get some outside help because all that it was infested their entire organization with. People who obviously couldnt see what they had done was wrong brats. So you have to. Basically bring in a honey badger to take it right and you know combine that with the opiate crisis all these people that have had their lives ruined by fargo of course its very easy to get hooked on opiates thanks to the drug industry and theyre working together is some of the american genocide but Charlie Munger doesnt care. If youre in the bitcoin will however put these guys to rest physically intellectually metaphorically what sound money and youre your own bank you dont need to rely on these crooks well as you head into the second half or you can talk to randy feller about the twenty eight thousand elections coming up these sort of issues are still ongoing this this started in two thousand and eight two thousand and nine actually the frauds were committed leading up to the Financial Times thank you actually died in two thousand and eight and hes just admitting that noxious gases from his corpse is being interpreted as some kind of insight well you got to go to the second half little break dont go away stay right there. Youre just. Going. To mistake it for us shelling supremest. From russia notes from china. This in court you see around russia and. Russia. To find somebody. Who is responsible for the while the real problems of. Whats going on is only producing. Pieces. It doesnt have any meaning unless it leads to real peace which can be. No guaranteed only by those pristine new presentation. Welcome back to the kaiser report imax jazzer time now to turn to four time mayor of pittsburgh and he also led the North CarolinaDemocratic Party and its randy voller ready welcome back to the kaiser report its great to be here max ok so were coming up on twenty eighteen is the way the president you know he has a big downward movie gets crushed you know after being in office a bit theres a reversal but this president has caught the eye of some interesting folks you know it his tax cuts have led to praise even from democratic leaning california corporations like apple or celebrities like bill murray you know normally in midterm elections the party in power is kicked in the teeth but these tax cuts seems to have you know really grab peoples attention even in the Democratic Party where you think well money is always going to grab peoples attention you know we all knew that apple was offshoring all their profits and now when theyve lowered the rates from thirty five to twenty one and some of the other things in that tax bill theyre able to move billion tens of billions of dollars around to their benefit the question is whats becoming of a lot of this money i mean one what i read in bloomberg and other sources are corporations are buying their stock back yeah why would they buy the stock right exactly theyre more into Financial Engineering then to cap x. Theyre not building out theyre not growing their businesses as such theyre just engage in accounting tricks to increase the executives pay more lastly because of the legislation passed in the Clinton Administration which kept what you could write off they get the stock option so i predicted they would do that last fall and theyre buying a lot of stock back so of course you know apple is happy because they had hundreds of billions of dollars caught up in this or at least tens of billions and very wealthy people are happy and anyone that has an s. Corp is happy because they changed the rules there and you had an s. Corporate also you might decide to make a c. Chord now because heck your tax rate went to twenty one percent so. Twenty eighteen now mean this is playing well to the crowd yes. Democratic party grain kind of laying out the the lay of the land for us and twenty sixteen and looking at the what was contributing to that dynamic in that election what can we look forward to in twenty seen in a nafta is nafta now back in play is this part of the mix well it depends what President Trump decides to do it meaning he certainly pulled out of the deal in asia immediately that obama had been working on and obviously a lot of progressives oppose so its highly likely that hes going to try to amend or change nafta. And of course how does that play and you know this whole open borders thing and then this issue with the wall and immigration i think theyre all connected i mean his base is worried that the country is becoming grayer and the country is becoming browner and they all know by two thousand and fifty it will be white white population will be the majority minority so i think a lot of these moves are fear as are facing the future the people have never lived in i think nancy pelosi race and they said her greatest aspiration is i want to for a grand kids would be brown. What does that mean well i think that shes probably realizing it at her age and her position in california of course she comes from baltimore her you know her relatives were the mayors of baltimore and shes probably thinking of inclusively that you know things that used to be taboo biracial marriages you know loving versus virginia in sixty eight used to be illegal i mean you know most of these people dont forget i grew up you know at the end of the jim crow era that are still in power i mean i think the twenty eighteen elections are going to be about you know the politics of women and progressivism and democratic socialism versus the politics of dog whistles and White Supremacy fair enough so lets talk about women in politics because that sams there is a groundswell of activity amongst women in politics the very active all over the country and is this trend of course after the may two movement and after a lot of controversy the twenty six election involving tromp is going to now say a wave of women in office and what does that portend randi were going to see a with a wave of women running for office and then i guess my assumption is a number of these women will win and what were going to see is the change of values that are implemented in washington and state capitals and county seats across this country because women tend to look at issues a bit differently than men and there are gender differences in this and i think thats a good thing i mean we need to have people at the table they need to be there in the Decision Making process and i think that those are the kind of changes that this country needs lets talk about focus for a second the Democratic Party they are still focused on some of these issues from a hair ago the socalled russia gate for example are they maybe a wasting Political Capital at this point on chasing that where they could be looking at Something Else at this stage of the game that might give them greater panic. Ration into the hearts and minds of the voter well i mean the miller investigation and what you term russia gate you know thats kind of keeping alive. Peoples thoughts and kind of the the negativity around trumps when. But the truth of the matter is simply that you cant be a party or a Political Movement that is opposed to everything you have to be a party that is for something and thats what youre getting at right so whats your program and you know and you know leader schumer has been asked that others have been asked that youve got to come out clearly and one and say what do we stand for well you know there are those senators and leaders in d. C. That have said that i mean they stand for universal health care for instance they stand for supporting the dreamers they stand for a number of progressive moves that would be good for this country the problem is that at the very top whether its the republican or Democratic Party its you know youve got your left wing in your right wing but the plane is the corporate plane then thats the ultimate problem the money issue. The jobs issue is was really driving a lot of the votes and twenty sixteen great disenfranchisement in america from coast to coast people were feeling as though they were not participating in the economy trump brought in these tax cuts that had at the moment a great effect increasing jobs and increasing salaries they got amazon with twenty thousand new jobs you got Apple Computer going to create twenty thousand new jobs so the voter a goes to the voting box they are looking at their paycheck and their think and you know why would i change at this point i think that focusing on amazon and focusing on apple is just our obsession with focusing on the whales you know whales dont live in an environment with an awful lot of plant in i mean you need to have everything in the economic biosphere so to speak right and that means Small Businesses that means medium size businesses they like to do. That because it catches peoples attention that were got twenty thousand jobs or a Small Businesses that they want out of the economy of millions and millions of jobs its just a drop in the Small Businesses reporting increasing activity theyre hiring theyre expanding i mean its trickling down i mean the trickle down that weve heard about since reagan actually is trickling down i dont think that thats its thats not the reason we already had expansion in this economy coming forward there already was growth you can look at the trend line from two thousand and nine but also recently there exactly has it made hockey said because because the tax code were giving everybody in the Company Thousand bucks thats writing thats real money well you could have been giving everyone money by actually supporting other programs that people could spend for instance you know when people have section eight and they get rent vouchers who owns all that real estate thats rent the comes in your pocket thats hunt thats thousand dollars every month yeah thousand dollars one time divided over twelve than i take out some for the tax man so fair enough so youre if youre comparing what you would describe as a gimmick versus a more structural reform that could be sustainable over a generation that be more meaningful i think is why youre so we describe it is like getting on a sugar high what happens after that to follow up on this you are a mayor a what do you think of these various cities across america prostrating themselves at the feet of jeff bezos begging for amazon to open their Second Headquarters there well the Way Economic Development works in our country is we force municipalities counties and states to compete against each other as opposed to having an o. A coherent policy or Manufacturing Policy thats unified that so you dont have people throwing you know tax breaks and this and that at these various companies so i would just say that those and others are you know playing by the rules of the system and forcing the politicians you know to come to them you know what the best offer i mean the truth of the matter is they want to do a Ribbon Cutting and say we just opened a new plant that created ten thousand jobs thats a lot more sexy and. Interesting than saying i just worked with you know five thousand businesses that created two jobs yeah trying to hit home runs and sort of get walks and signals or throwing the home or throwing the long ball back the baseball metaphors that we love so much here in North Carolina we do i do yeah you know so what is now the attitude in the Democratic Party may i mean i hear what youre saying a sound you know like youre trying to. Bring it up bring it all together and like rational you know i was underestimated tromp and it looks like thats going to continue i mean. Whats going to derail this guy i mean theres no skeleton in the closet same Strong Enough to do. Nobody in washington can stop him hes got his twitter sphere that he just broadcast irakli with goes through mobile round Mainstream Media hes out is unstoppable. Im going to stop with the Electoral College was designed to stop a person like trump and it did because our institutions have been failing for decades thats a very interesting point the Electoral College was designed to stop a charismatic lets say person from garnering the popular vote in a way that would be representational to the nation as a whole and somehow he defeated that and won the electoral vote how was that possible against the most widely anticipated when an american president ial history for hillary while on on a lot of levels i mean it wasnt just donald trump you know republican policy makers you know and americans for prosperity and other groups have been you know working on ways to suppress the vote since obama won i mean this is about the politics of race as well this is about the politics of preserving White Privilege and white power so i mean these things were already there this table was set and donald just kind of elbowed his way into the room he benefited. From suppression and wisconsin when i told you how he could win i laid out the states that he could win based on what reagan democrats did in the past and based on how sanders did in the primary and it happened but lets not forget that in wisconsin tens of thousands of people were not able to vote based on voter id laws that were rammed through by support from the Koch Brothers and others why because they know if certain populations vote their ideas will not win which is why they dont want to have a huge turnout they win when the turn on the smaller and speaking about twenty eighteen yes there could be a blue wave but whats holding it back is a red fire wall whats that red fire wall gerrymandering most of these districts are impossible to win in right now if theres that being a state that is the most gerrymandered probably in the country as far for im hearing you know better but as at the case yes North Carolina is rated on indices you know from you know people around the world where they look at actual countries and lets not forget we got ten Million People in the states a word as large as many countries as being one of the least democratic places on the planet when they rate you know athens out of the election interfering. Maybe a domestically instead of looking from outside forces there randi were going to go here in numbers man weve got to go thanks rob and guys report thank you for having me on report all right thats going to do it for this edition of the cars are part of me Max Catherine stays here and i guess ready voller generates on twitter its kaiser report and select on. What do you suppose to. Put themselves on the line they did accept or reject. So if you want to express. Some want to us. To going. This is what will. Get the more people. Interested in the war. Fifty years ago pregnant women to as a sleeping pill. To. The side of things were terrible but not all known. War. Across europe victims are starting legal battles demanding at least some compensation. In two ways first will the physical damage itself as well with the concert in mind that the people who actually perpetrated this crime has never been brought to justice has been the. Plan of welcome to worlds apart rather than providing clarity and closure the indictment of thirteen russian nationals on charges of conspiracy has further entrenched both sides of the russia gate narrative those who believe that kremlin tried to have democracy deep in their conviction as did those who insist that the whole story was an invention of sore losers whatever it was or was and russias role in the two thousand and sixteen president ial campaign perception is reality navigated well to discuss that im now joined by further. Analyst and editor in chief of Russian Global Affairs magazine mr look and if its good to talk to you thank you for coming over now first let me ask you about these socalled same petersburg