Transcripts For RT Documentary 20240713

During the. During the Great Depression which im old enough to remember there was and most of my family were unemployed depression which im old enough to remember there was and most of my family were unemployed working class there wasnt it was bed you know much worse subjectively than today wood working class there wasnt it was bed you know much worse objectively than today but there was an expectation that things were going to get better. But there was an expectation that things were going to get better. There was a real sense of hopefulness there isnt today. There was a real sense of hopefulness there isnt today. Inequality is. Inequality is really unprecedented im sure that total inequality thats like the worst really unprecedented im sure that total inequality its like the worst periods of American History. Periods of American History. But if youre a find it more closely. But if youre a find it more closely the inequality comes from the extreme wealth in a tiny sector the puppy quality comes from the extreme wealth in a tiny sector of the population fraction of one percent. Elation fraction of one percent. There were periods like the gilded age in the twentys. There were periods like the gilded age in the twentys the early ninetys and so on when a situation of ill rather similar to this. Companies and so on when a situation of ill rather similar to this. Now this period 6 tree because if you look at their Wealth Distribution to an experience extreme because if you look at their Wealth Distribution the inequality mostly comes from super wealth. Quality mostly comes from super wealth. Literally the cup 110th of a percent. Literally the cup 110th of a percent are just super wealthy. Not only is it extremely or just super wealthy. Not only is it extremely unjust in itself. Inequality has highly negative consequences im just in it so. Inequality has highly negative consequences on the so is. Because the very fact of inequality has a corrosive harmful effect ackerson. The so is. Because the very fact of inequality has a corrosive harmful effect ackerson. You open by talk about the American Dream. Part of the American Dream is close mean deluded to open by talk about the American Dream part of the American Dream is close mean diluting it will encourage you work or you get rich it was possible for a work it will encourage work or. Get rich it was possible for a worker to get a decent job. In a core of children or to get a decent job 5 get a core of children to school. To a collapse to school. Collapse. Imagine yourself in an. Imagine yourself in an outside position looking for mars. Outside position looking for mars. Would he see. What he see. In the United States where there are protests like. In the United States where there are protests like democracy. Democracy. In a democracy Public Opinion is good. In a democracy Public Opinion is going to have some influence on policy. And have some influence on policy. And then the government carries out actions determined by the pattern. And then the government carries out actions determined by the population and thats what democracy means. Relation. Thats what democracy means. Its important to understand that privilege. Its important to understand that privileged and powerful sectors have never like democracy and for very good reached and powerful sectors have never like democracy and for very good reason. Democracy puts power into the hands of the gene. Democracy puts power into the hands of the general population and takes it away from them. And general population and takes it away from them. And its kind of the principle of concentration of wealth and power. Kind of principle of concentration of wealth and power. Concentration of. Concentration of wealth yields concentration of power particularly so as the wealth yields concentration of power particularly so as the cost of elections skyrockets which kind of forces the political cost of elections skyrockets which kind of forces the Political Parties into the pockets of major corporations. And this put arties into the pockets of major corporations. And this political power quickly translates into legislation that increases that it will power. Actually translates into legislation that increases the concentration of wealth so fiscal policy is like tax policy concentration of wealth so fiscal policy like expo us see the deregulation. Rules of Corporate Governance deregulation. Rules of Corporate Governance a whole variety of measures political measures designed tournaments a whole variety of measures political measures designed to increase the concentration of wealth and power which in turn to increase the concentration of wealth and power which in turn to yield more political power do the same thing. And they yield more political power to do the same thing. And thats what weve been seeing. Thats what weve been seeing. So we have this kind of vicious cycle in progress. You know actually it is so true to so we have this kind of vicious cycle in progress. You know actually it is so traditional that it was described by adam smith in 776 he read the famous wealth of nations. He says in england the principle architects of policy if you read famous wealth of nations. He says in england the principle architects of policy are the people on the society in his day merchants and manufacturers are the people on the society in his day merchants and manufacturers. And they make sure. That their own interests are very well cared and they make sure that their own interests are very well cared for however grievous the impact on the people of england there are others who are however grievous the impact on the people of england there are others. Now its not urgent manufacture it is its Financial Institutions and multinational corporations the people who adam smith called the masters of mankind and theyre following the veil maxim over our selves and nothing for anyone else its a Financial Institution multinational corporations the people who adam smith called the masters of mankind and theyre following the vile maxim over our selves and nothing for anyone else. Theyre just going to pursue policies that benefit that. Theyre just going to pursue policies that benefit them and harm everyone else. And in the absence of a general plan and harm everyone else. And in the absence of a general popular reaction thats pretty much what youd expect. A reaction thats pretty much what youd expect. Right through. Right through American History theres been an ongoing clash between true American History theres been an ongoing clash between. Pressure for more freedom and democracy coming from below. Pressure for more freedom and democracy coming from below and efforts that elite control and domination coming from and efforts that elite control and domination coming from above. Goes back to the founding of the country. Goes back to the founding of the country. James madison the main framer who was as much of a believer in democracy James Madison the main framer who was as much of a believer in democracy is anybody in the world that they nevertheless felt that the United States is anybody in the world that they nevertheless felt that the United States system should be designed and indeed with his initiative was designed system should be designed and indeed with his initiative was designed so that power should be in the hands of the wealthy. Because and so that power should be in the hands of the wealthy. Because the wealthy are the more responsible set of men and therefore the strictest the wealthier the more responsible set of men and therefore the structure of the formal constitutional system placed most power in the hands of the senate or of the formal constitutional system placed most power in the hands of the senate or the senate was not elected in those days it was select from the wealthy or the senate was not elected in those days it was selected from the wealthy men as madison put it had sympathy for Property Owners in their right. To read the debates at the cost of menace madison put it had sympathy for Property Owners in their right. If you read the debates at the constitutional convention. Madison the major concern of this initial convention. Madison the major concern of the society has to be to protect the minority of the opulent against the majority and it has to be to protect the minority of the opulent against the majority. And hear arguments. And hear argument suppose everyone had to vote freely and say well the majority of your suppose everyone had to vote freely as they will the majority of the poor get together and they would organize to take away the property the rich get together and they would organize to take away the property of the rich and he said that would obviously be unjust you cant have that so therefore the constitution and he said that would obviously be unjust you cant have that so therefore the constitutional system has to be set up to prevent democracy. As tim has to be set up to prevent democracy. Which is of some interest. Which is of some interest that this debate has a hard tradition goes back to the 1st that this debate has a hari tradition goes back to the 1st major book on political systems aristotles politics. Major book on political systems aristotles politics. He says of all of them the best is democracy and then he points out he says of all. Them the best is democracy at any point out exactly the flaws that medicine pointed out. Exactly the flaws that medicine pointed out. If athens were a democracy for free men the poor would get. If absent were democracy for free men the poor would get together and take away the property the rich. Well same deal together and take away the property the rich. Well same dilemma they had opposite solutions aristotle proposed what we would nowadays call them and they had opposite solutions aristotle proposed what we would nowadays call a welfare state and try to reduce inequality. Welfare state and try to reduce inequality. So same problem after. So same problem absent solutions one is reduce inequality will have this problem as at solutions one is reduce inequality will have this problem and the other is reduced democracy. The other is reduced democracy. If you look at the history of the United States. If you look at the history of the United States its a constant struggle between these 2 tendencies democratizing dates its a constant struggle between these 2 tendencies democratizing tendency thats mostly coming from the population pressure from below and you get tendency thats mostly coming from the population pressure from below and you get this constant battle going on periods or aggression periods of progress in 1000 cities constant battle of the. Periods or gratian periods of progress in 1906 for example were a period of significant democratization sixties for example were a period of significant democratization. Sectors in the 3rd. Sectors if i feel asia that are usually passive and have a city reach a militia that are usually passive and have a city became organized a good story to see their demand. Morgan honest active story to see their demand. And they became more and more. And they became more and more involved in Decision Making and the resume and so on. Are involved in Decision Making and the resume and so on. Its just changed consciousness and. Its just changed consciousness and. d minority rights in the region why are out. To minority rights in the region why are out. Why do. They need a. Ride. One of the. Womens rights victim in this. Womens rights victim in this case. If we force it to take. My patient well see. If we force it to say. Yes in terms of the you think that america is. In terms of the you think america is. Nice or if i am safe you know. What i say or if i am seeking its own survival position to creation im free to those who criticize us all the militants to provide the solution to creation im free to those who criticize us on the militancy bonder said they are serious about lawn on the bridge provided the bubon descent they are serious about lawn on the bridge provided the vietnamese people are our own black people and for our own what people can turn for other get me these people are our own black people and for our own what people can turn for other people one day we must ask a question on a 1000000 poor people people one day we must ask a question on a 1000000 poor people in america when you begin that process the reason a person amounts when you begin that process the reason a person amounts to the system about a broader distribution of wealth through christ and. The system about a broader distribution of wealth the question of restructuring. In society is rule symbolizing the structuring. Of things this time this rule symbolizing. Create fear. That caused great fear. I hadnt. Anticipated the power hadnt. Anticipated the power of a should have but it didnt then to speak the power of the reaction to the service shouldve but it didnt anticipate the power of the reaction to the civilizing effects of the sixtys did not anticipate the strength as an effects of the sixtys did not anticipate the strength of the reaction to it. With the reaction to it. The backlash. The backlash. What politicians do. Put themselves on the line what politicians do. Put themselves on the line they get accepted over. So when one of the. Big get. The reject. So when you want to be president and. Want to. Have to present injury. Was. Actually going to be close to what before 3 of them or 10 people going to be close but she was before 3 of them or cant be good. Ive been pushed through all those in the waters of my. Industry always in the water. There should. Or should. We have this little most kids we sure. We have those little most kids we sure are talking surprise us which was a surprise for me i was on the console all the things prizes which was a surprise for me i was on the console all along but that thought well because these are media people they come to from their job. For well because these are media people they come to from their job kind so no need to trouble myself about it oxo i wasnt ready for bit mad so no need to trouble myself about it oxo i wasnt ready for that magnitude of things happening that when they began to happen it was the sudden its all things happening that when they began to happen it was the spine that the society as it is was ready to react and that society as it is was ready to react to what it sees as humphrey or done just. What it sees as humphrey or done just. Cooked additional supposed to. Cooked additional subversives no not a bit of what was amazing at the outset that a little bit of something he sees its existence to. Your soul but youre all going to snatch no no no. No no. Please do it. Sam do you see when im with you to no shall proceed. Simply yes swinging with regional shall proceed. To look with a showing at the where its going to last when the church. Looked with a showing at the bread which it was going to sing is lost when the church. Has a political ship. You have to sleep study. He has a political ship. You have to sleep so to. Vote on a ship in. The upper new most of the book that boat of shipping. You ever knew most of the book did the work of the person able still to say no i dont know what that did to womanhood the 1st thing it will still do so you know i dont know what the war. Or. If it was the latest news in the puss. Boys and it was the latest news in the pulse. Boys and im all right there yet ive put this was going to say. All right so you have put your system of those a. Little fish through the summer in the story of the soulful. Little fish through the summer in the story of the soulful. There has been an enormous concentrated coordinated. There has been an enormous concentrated coordinated business offensive beginning in the seventys to try to beat back the business offensive beginning in the seventys to try to beat back the egalitarian efforts that went right through the nixon years and you see it in many of the egalitarian efforts that went right through the nixon years and you see it in many respects and over on the right you see it in things like the famous respect and over on the right you see it in things like the famous pell memorandum. Sent to the chamber of commerce powell memorandum. Sent to the chamber of commerce Major Business lobby Later Supreme Court Justice Powell Major Business lobby Later Supreme Court Justice Powell warning them that business is losing control over the society. That business is losing control over the society. And something has to be done to counter these forces. And something has to be done to counter these forces course we put it in terms of the defense defending ourselves against outside our course we put it in terms of defense defending ourselves against outside power. If you look at it its a call for business to use its control over research if you look at it its a call for business to. Use its control over resources to carry out a major offensive to beat back this democratizing wave rhesus to carry out a major offensive to beat back this democratizing wave. Around the world around the liberals. And it isnt exactly center at least the im ready for bush to the 1st. Major major report ordered of the at the treasury latter Lateral Commission is disconcerting that this is. Whats called the Current Crisis is a complete markers. For credit or a commission is liberal internationalists in their flavors indicated by Lateral Commission is liberal internationalists in their flavors indicated by the fact that they pretty much staff the carter administration. And the fact that they pretty much staff the carter administration. And they were also told that democratizing. And they were also told that democratizing tendencies of the sixtys and so we have to react to it. Then unseasonably sixtys and so we have to react to it. They were concerned that there was an excess of democracy developing. They were concerned that there was an excess of democracy developing. Previously passive. Previously. Passive and obedient parts of the population are sometimes called the special interest and obedient parts of the population are sometimes called the special interests who are beginning to organize and try to enter the political arena and they said that implies they were beginning to organize and try to enter the political arena and they said that imposes too much pressure on the state cant deal with all these pressures poses too much pressure on the state cant deal with all these pressures so therefore they have to return to passivity and become the politicization so therefore they have to return to passivity and become the politicised. And they were particularly concerned with what was happening to young people because. They were particularly concerned with what was happening to young people young people get into free and independent. Young people get into free and independent. In the way they put it theres a fear. In the way they put it theres a failure on the part of the schools the universities churches failure on the part of the schools the universities churches the institutions responsible for the indoctrination of the young there for is the institutions responsible for the indoctrination of the young there for it is not mine. Its not mine. If you look at their study theres one interesting never mention private. If you look at their study theres one interesting never mention private business and that makes sense theyre not special interest theyre the National Interest kind of but business and that makes sense theyre not special interest theyre the national. Interest kind of by definition so theyre ok theyre allowed to you know have lobbyists definition so theyre ok theyre allowed to you know have lobbyists buy Campaign Staff the executive make decisions thats fine but its by Campaign Staff the executive make decisions thats fine but its the rest the special interests the general population who have to be subdued the rest the special interests the general population who have to be subdued. When thats the specter its the kind of idealism. When thats the specter its the kind of ideological level of the backlash but the major backlash which logical level of the backlash but the major backlash which was unparalleled this. Was just redesigning the economy was in peril this. Was just redesigning the economy. Since the 1970 s. Since the 1970 is theres been a concerted effort on the part of the masters of mankind the theres been a concerted effort on the part of the masters of mankind the owners of the society to shift the economy in 2 crucial respects owners of the society to shift the economy in 2 crucial respects one to increase the role of financial inspects one to increase the role of Financial Institutions banks investment firms and so on to sions banks investment firms and so on insurance companies. But a 2007 break be sure and companies. But a 2007 break before the latest crash they had literally 40 percent of corporate profits. For the latest crash they had literally 40 per cent of corporate profit after it. And anything the best. Far beyond anything in the past. Back and they may be 1950. The it is this for many years before the United States economy was based largely on production says for many years before the United States economy was based largely on production. In the United States as the great Manufacturing Center of the world. In the United States was the great Manufacturing Center of the world. Financial institutions used to be relatively small. Financial institutions used to be a relatively small part of the economy and their task was to distribute unusual part of the economy and their task was to distribute unused as it likes a bank savings to productive activity just as it likes a bank savings to productive activity a bank always had on hand the reserves of money received from the holders of deposit or bank always had on hand the reserves of money received from the bondholders in deposit or on the basis of these cash reserves a bank can create credit. On the basis of these cash reserves a bank can create credit now besides providing a safe place for the bonding money a bank or the community by making the providing a safe place for the bonding money a bank there is a community by making a National Credit available for many purposes for a manufacturer to meet has payroll additional credit available for many purposes for a manufacturer to meet has payroll during 5 telling period or a margin to unlock and remodel his car and from any other in fact telling period arent going to unlock and remodel his car and for many other reasons why people are always needing more Credit Rating and they have acquired media cleave everywhere always needing more credit than they have immediately of a. Thats a contribution to the economy. Thats a contribution to the economy. Regulatory system was established banks were regulated the commercial interest 3 system was established banks were regulated the commercial investment banks were separated cut back for risk investment practices that goodman banks were separated cut back for risk in this practice is that good arm private people. There had been remember no financial arm private people. There had been remember no financial crashes during the period of regulation by the 1970 crashes during the period of regulation by the 1970 s. That changed. Us that changed. He started getting that huge increase in the flows of speculative capital just astronomically increased an enormous changes in the Financial Sector for him he started getting that huge increase in the flows of speculative capital just esther comically increased an enormous changes in the Financial Sector from traditional banks to risky investments. Complex traditional banks to risky investments. Complex Financial Instruments money manipulations and so on increasingly the National Instruments of money manipulations and so on increasingly the business of the country isnt production at least not here the business of the country isnt production at least not here. The primary business here is business. You can even. The primary business here is business. You can even see it in the choice of directors so a director of a major american see it in the choice of directors so the director of a Major American Corporation back in the fiftys and sixtys was very likely to be an engineer or a corporation back in the fiftys and sixtys was very likely to be an engineer somebody who graduated from a place like mit maybe Industrial Management somebody who graduated from a place like mit maybe Industrial Management more recently the directorship in the top managerial positions or people who create more recently the directorship in the top managerial positions are people who came out of Business Schools learned financial trickery of various kinds and so on him out of Business Schools learned financial trickery of various kinds and so on. By the 1970 s. Say General Electric can make more profit. By the 1970 s. Say General Electric can make more profit playing games with money than you could by producing in the united stuff it playing games with money then you could buy produce and in the United States. You have to remember the date. You have to remember that General Electric is substantially a Financial Institution today General Electric is substantially a Financial Institution today it makes half its profits just by moving money around in complicated ways it makes half its profits just by moving money around in complicated ways and its very unclear that theyre doing anything thats of value to the economy. And its very unclear that theyre doing anything thats of value to the economy. So thats one phenomena lets go financial ization of the economy. So thats one phenomena lets go financial ization of the economy. Going along with that is the oh sure into production. Going along with that is the oh sure and production. Trade system was reconstructed. The trade system was reconstructed with a very explicit design of putting working with a very explicit design of putting working people in competition with one another all over the world. People in competition with one another all over the world. And what its led to is a reduction in the share of income and what its led to is a reduction in the share of income on the part of working people. Has been particularly striking in the united on the part of working people. Its been particularly striking in the United States but happening worldwide it means that an American Workers in competition with states but happening worldwide it means that an American Workers in competition with a super exploited worker in china. With a super exploited worker in china. Meanwhile highly paid professionals are protected they are not meanwhile highly paid professionals are protected they are not placed in competition with the rest of the world far from it and of course it can placed in competition with the rest of the world far from it and of course a capitalist free to move workers are free to move labor cant move but capital is free to move workers are free to move labor can move but capital can well again going back to the classics like adam smith chattel can well again going back to the classics like adam smith as he pointed out free circulation of labor is the foundation as he pointed out free circulation of labor is the foundation of any free trade system but workers are pretty much stuck in that any free trade system but workers are pretty much stuck the wealthy in the privileged are protected so you get obvious consequence the wealthy in the privileged are protected so you get obvious consequences and theyre recognized and in fact praised. And says and theyre recognized in fact praised. Policy is designed to increase in security. Policy is designed to increase in security. Alan greenspan when he testified to congress he explained it Alan Greenspan when he testified to congress he explained his success in running the economy as based on what he called greater success in running the economy as based on what he called greater worker insecurity. A typical restraint on comp worker insecurity. A typical restraint on company. Ration increases has been evident for a few years but as i outlined in some different sation increases has been evident for a few years but as i outlined in some detail in testimony last month i believe that job insecurity has played detailed in testimony last month i believe that job insecurity has played the dominant role workers and secured are going to be under control dominant role workers and secured are going to be under control. Theyre not going to ask for say decent wages. Theyre not going to ask for say decent wages were a decent working conditions or the opportunity to Free Association were a decent working conditions or the opportunity to Free Association meaning unions. Now for the masters of mankind thats find the meaning unions. Now for the masters of mankind thats fine they make their profits but for the population its devastating. To their profits but for the population its devastating. For these 2 processes financial ization and off. Of these 2 processes financial ization and offshoring are part of what led to the vicious cycle of churning are part of what led to the vicious cycle of concentration of wealth concentration of power. Concentration of wealth concentration of power. If. Please. Please. Slow. Slow. Slow. Slow. Slow. And very well might continue watching us inside. And very well might continue watching us into. Believing weird things by the way is called superstition or magical thing. Believing weird things by the way is called superstition or magical thinking believing weird things like that is not a bug in the system its believing weird things like that is not a bug in the system its a feature it calms equipped in the software of our program mean to feature the traumas equipped drive in the software to where of our program next to things in the trying but it can i expect just thinking cases from the environment just in deserves a real shock has a real connection. In this us. And this us. And. One union said forms the last night. And. One union said yes solves. The rational assaults yes solves. The rational assaults then there. Was that original ugly needy thief. Desire for love the needy thief. That the new doc was on my. Zimmer. My piece on the zimmer full video from. The full video from. The what. A bill in co. Told. Fortune for the outnumbered a lot of authors in. Fortune for the outnumbered a lot of authors more than after so much financial. Footing after so much financial. And. Well as it. Well it was a couple of you know if you can keep up with. Them you know you could be with me. In the u. K. An inquiry into the deadly 2017 grenfell powerplays in the u. K. An inquiry into the deadly 2017 grenfell powerplays calls out significances stemming failings in the london fire brigade but with little schools out significances stemming failings in the london fire brigade but with little spotlight placed on city and government authorities firefighters tell us that the 1st placed on city and government authorities the firefighters tell us that the focus is misplaced. Far far as. Calls the forest is misplaced. For far as. Opposed to for a grim time for thoughts of not responsible for fixing it from a group from the us for the grim for terms of not responsible for fixing a front from the material on the outside of the towers. A new report by human rule on the outside of the towers. A new report by Human Rights Watch says u. S. Sanctions are preventing ordinary iranians from accessing life rights watch says u. S. Sanctions are preventing ordinary iranians from accessing lifesaving medicine. And love them it proves him meets with the hunger saving medicine. And love them it proves him meets with the hungry and Prime Minister viktor irritating western allies on the same day garion Prime Minister viktor orban irritating western allies on the same day hi