So no good joining me is warmer. Im f economist, dr. David with. David, thanks so much for going on because i said all that and the european leaders who are being media would be quick to say, hang on a minute, the Russian Energy is all being replaced. No problem. The your rowe as you yourself is said people can watch your video on your youtube channel. The are as up to cover it all the losses and ok, you are being lead is a very unpopular at home to ever be on both beulah but having a good war. You you back to different but yeah, i definitely think so. I think the short term does no question. I think, you know, europe, at least over the last 6 months, has benefited from basic collapse and energy prices. And um, however, what we need to recognize is the fact that while the absolute level vantage reprise of come down for europe, the price has actually gone up. Okay, that is to say thats a big europe is having to business problem further and further away to secure energy instead of buying these the natural gas from restaurants. Okay. They dont have to be to get a guitar the us. Well jerry, yeah. Okay. You know, its, im getting portal directly from rochelle through the pipeline. They not have to get up here. I think gotten very far away places instead of getting there cool. And restaurants do not have to get it from south africa in australia and transportation is very expensive. And the whole, it just is very expensive. As a result, if you look at natural gas price, for example, today, natural gas price that German Companies are paying are literally basically 4. 00 times higher than what their us counterparts are paying. I mean the content that was not very competitive to begin with. Now they just being doing this math competitive basically. Uh and this is a wide, no wonder German Companies. One often not dark, are basically like, you know, picking up and relocating their manufacturing to the us to china anywhere they can access cheaper energy. Because what people need to realize is that there is no in europe without germany. And the German Economy is a manufactory economy and manufacturing economy by definition means its basically Energy Intensive industry, especially when you look at basically german chemical industries. Was one of the Main Industries in germany. Yeah, the biggest Chemical Company in the world as when it comes over some of that energy, okay, per year and then the whole entire nation of denmark. Okay. So from that point, i mean there is no now germany is already struggling with the fact that theyre behind in the production of the. So remember 25 percent Germany Economy is basically making cars. Okay. And then in the industry to begin with, they have falling behind us in china and development of electric vehicles. On top of that, the electric nichols basically requires 25 percent less labor to make a car then thats just a a combustible engine in the car. So germany is already being hit every possible size. And now this war i was built, i would argue, a fatal blow to the German Economy. I almost feel like germanys freak walk into this because of the green party has decided that you know what we want. It basically get it far. No way to force drama need to in general, just stop consuming energy altogether. But of course, whats gonna happen is the oldest pollution is not going to happen in china, not wanting the you was, you know, the hope you really believe the Global Climate hypothesis, the whole kind of still going down, you know, where do without germany. And guess what germany mean was lot losing jobs left in. Right. So this to me, it just absolutely 80 adi there is, i mean germany says the old that they are walking into this and committing a total weight of nomic suicide. Its unbelievable to which of course, uh, and to the blinking the form of west exact pentagon contract, it would say to you, what are you talking about . Well look after your, well open all the natural gas terminals for all the last a gas and well sell them at your, of the it will replace that russian gas with natural gas to, to your from fractured oil. Sorry, frank, natural gas in the United States. What are you to here with . This is russian by guns are in fact what youre thing is like a slope. Its just more expensive. Theyre not facing. If i just think about this also, oil price might right now. Its like, you know, what, you know, youre from the us and japan, or say were going to basically pay 100. 00 more. Then everybody else to import energy because, you know, because i mean, right now the china, india and all the other countries um, importing oil and trying to basically get the 2020. 00 discount. And by the way, the warranty, basically this one of them for essentially against the washing energy, everybody will be consuming low energy price, or possibly they can use a trying, itll be paying more for the europeans and whatever the japanese will be paying less for sure. But the point here is that you have to be know is the americans, what do you, what do your peace dont get it . Is it americans are not interested in the welfare of europe. The amount of deals that youre owes as to the us. Im not, bill is like, you know what we said you twice. Okay. One world war 2. We said you find the crowd use of this of the union. We have been underwriting your security for the last 50 years and hard. You paid us back. And this is how the americans thought about when basically merkel wanted to build basically north spring. So they saw that, wow, ill do everything weve done for you. Youre going to basically join forces with russia. Okay. This is the reason why to see how to drive, but why . Thats why this war to a great extent, its about basically driving a wedge by the u. S. Between europe and basically russia because a new was already, were continue with china as a competitor. Us clearly did not one germany have parts or the getting the bed together and also give the us a, basically a rug worth of money because of what the us has is very, very low cost energy, abundance of energy in germany were to actually form a partnership with national, insecure Russian Energy, then theres no doubt that us would have lost competitiveness. And for the us there was no way the us and was gonna take this lying down. Now, after all these basically over allies is given for the protection of europe. So from that point of view, i mean its completely understand or both to me. Why did you, why is that what it did . What it doesnt make any sense to me is what the, your opinions are following for this. Can they not the same things a bit more clearly . I have whats higher hopes for spacing all actual. Then hes actually demonstrated any common sense, but ill get to know what the stream will particularly in a, in a 2nd, but clearly the by ministration. The state department, Daily Press Briefings run completely country to what youre saying. They say your up is part now your up is, are, you know, you look at the install debugging nato, this is one big, happy family. Its not competitive a tool. And do you kind of imply it in your on so there a well, i mean, why would leaders in europe be amazing economic suicide like are you saying schultz macro sanchez, maloney cost them . Its a heck is very good. The crew and a 100 by the these lead is in your over it. Its so, you know, i just, 1st of all, i used to think what this is because good thing, right . You know, you part of the european union. But right. The sessions are being made basically in a committee finish a leave throwing you that imaging. But i think more currently, i think is the fact that youre things. In the last 50 years, the all european project was meant design to basically eradicate nationalism in patriotism. And what is nationalism nationalism is doing . What is good for your people . And the europeans, i mean brains. This whole idea is that you know what, you know, we want to basically do whats good for the common good, as opposed to ourselves. And then theres also the pining away, very sorry david, i got to just intervene there just quickly say in fans, britain from where i think we are a who was born a very and on this to and they left the europeans. You youre exactly right. But remember, listen, i had high hopes id be, i saw us who knocked was gonna step away from this. But i think is some since she inherited a policy that was laid down by trust. And trust was the biggest part of the. All right, i mean, for us to was the ones that wanna tear up things with china person was on, was going to basically pick up all the way to basically a russia, right person was a complete disaster with no, no, even embracing people know. And by the way, also a pretty citizen, i lived there for 10 years. My heart goes out to the brakes and there is no doubt. I dont know if its ben wallace was no doubt, but so not i somehow dont think that if he had been on his own, if hes been there, somebody being very different. It was maurice johnson. And i think again, forrest johnson, i think the guy turned out to be a complete disappointment. I cant believe i voted for him. I actually supported briggs and is also for i think he is fathers being on the show. His father is being on the show quite a few times. You know, it kills me because youre going to think about this right raises. What is really, really me, the reason why i was for bridges was because i told brittany by leaving the group the union in charge his own course english. I mean the board as well as ition is most acceptable civilization on a planet. Right. And the, everybody speaking english thing, this culture, everybody restricts beer and not basically told a story these days. But the point here is this, right . For ready to always profit from the exit from britain from basically you have to make friends with the whole entire world. Not just think about this really is a 3 years after griggs, if you was u. K, supposedly best our has not even so far given that you could arrange red green. So be your case in your lease being europe. And you havent even got a free trade revision supposedly your best friend, your champagne facing, playing the role of the mediator. Because really, british people, they follow the road. They have a global perspective, bbc, you know, so on, so forth. They should have basically taking advantage of, of crisis and become the piece broker. And the fact that this having been this way, i think is a total. Its a get it to me. Its completely against any kind of way as a bold hard magic policy for the good of british people. Again, im only because im not rooting for russia where ukraine were us, europe, im voting for the little guys. What i see is of the land guys in britain in the us and ukraine interruption are getting scroll big for a bunch of incumbent and policy makers personally, groups that have not tried to stop the american mountains to basic, bring down russia and will cost. Okay, buddy in fan this to the United States, you do say they are acting in a self interested way. See much as being on the show. People can watch our exclusive global, exclusive with them about north stream. You. You believe that it was a, if it is the usa, the c, i a, a self interested acts. I mean, if we put Environmental Concerns to one side, because it would have been, it was the law just to maintain the emission event in history. Man, man made and joe biden says hes environmental, hes interested is the environment. But this was a, this is a brilliant strategy by the United States. If it was in terms of the economics. You know, we, we know this started with kennedy. I really actually got the needle back the most sacred being free to basically talk the sanction against germany. Sporting part of the pipes drills over a unit. And then with now, with the ranking, it went out with obama, who was basically get a seato basically, i mean, someone was bush who is against basic construction of more stream one. And a bama was it gets to sort of control and inviting bass. And of course, the said, but you know, i think, i think we know what might in that ive no doubt that you know, because again, you know, i, i dont know who did it. We didnt already know. Is that the water for a crime to be committed . It has to be a motive, the only kind of thing and part of the mode into destroying the last thing is, of course the us because it is the best way to base him, destroy any chance that you are a isnt a negotiated with russia because the u. S. A was trying to destroy the one piece of leverage the russian might have on europe. That might cause the european to think more offensively about what they going to do. The us just took that away, destroyed. So there was no turning back to the europeans, dr. David, who ill stop you the more from the fall, but will 3 strategist did, im, if economist dr. This price the the, the welcome back to going on the garden. Im still be able to talk to david lou full what street strategist and im, if economist david you, we were talking in part one about the United States is, must apply. Im here and its mazda strokes as to how long your can continue to committee. You know, make suicide, give me, do you think it will be up to civil unrest . I mean, we saw some civil unrest across the whole of france and switzerland. Weve seen some room this week. Holland otherwise, uh we havent really seen anything by the people of your but bob from expressing distasteful. The lead is positions on the following Living Standards because of the war in your what is going to make them change higher Interest Rates that you know is interesting because people say, oh wow, why, you know, you know, because i mean, seriously a year ago it was pretty big thing that by now, you have to be in a basically deep recession. It hasnt gone into that research. And you know, why . Because europe has the nation to cisco stimulus for the whole system. And thats stimulus. Okay, were talking about subsidizing energy, subsidizing consumption, all that kind of stuff. That no doubt was the reason why you continue calling me after the us economy 2022. But in this they were listening. Jenny is true. 2023. So the point of view, i would argue so far, the europeans have really felt the pain. Okay, well, i think what were talking about right now, what im talking about right now is the long term paint that has yet to come. By the way, what youre going to see is a whole sale basically like literally people being lets go laid off in germany where people are going to basically, you know, facing the go into pro. 3 demonstrations and so forth. But what im saying this is that this is why i think next year is interesting. But meanwhile, i think the interesting thing, what i dont understand is this, you know, you say, well democracy written note is very clear. You found in german opinion, impulse never painting a clear ok division between people want to come to support. You claim that people dont want to continuously support you. Crank one thing that germanys competing total suicide. What is actually been going on right now . I kind of feel like they are basically citing, you know what the next election is not going to be for another 2 more years. Yeah, you know whats gonna happen between now and 2 years time, who knows by the end brush or might have been defeated and so on. So for the result, both my claim is, shots are behaving as the Public Opinion doesnt matter. They are behaving as though the only thing that just hunky dory. They are basically doubling down their basement housing. Theyre sending web things or whatever. I mean the defensive starting to send basically christmas with directv. Christ is almost as though they feel like, okay, fine. I lost the 1st moment. Okay. The only challenge now is that im going to double dont know, i guess what my tell you to run for a 3rd term. So carrots, as far as hes concerned. Thats the problem. This is why i actually think what this entire solved are showing us is the weakness of our democratic systems. And this is to say the russia in china have better political systems. Ok in terms of decision making. But there is no doubt that democracy is failing. The europeans, in a very big way i can, i can say roger and china rush are trying to say they are democratic, of course, in different ways. Russians elections have been the independent, the jacks. But actually, its your fault in a way, david, because you are at the i m f between 96 of 2000 and the only leave of these european governments have under the regulated markets, is Interest Rates to cub and issues. Its also hoped for the way the economies are now set up with their, uh, e and again. So you are being federal bank, the bank of england. They dont have any other methods of being able to look at the economy in a different way. As regards strategic investment a i, im still high Interest Rates in the only reason why im for high Interest Rate is that i think it will be you know, a tragedy that we see basically what happened to 19 seventies. Making a major come back, especially in the country like the u. K. Which i really care for by the way. Okay. You are now remember like it was boucher and though literally the he bought the crack down the whole entire thing to bring down in placing these by cations. So from that point of view, like youre arguing there was one thing, the western economy is accomplished in the last 30 years. Also things to basically globalization. The integration of china in the global economy, which helped drive down. I should, you know, what they really successfully managed to do was bring down basically inflation, which allowed him to bring down Interest Rates. Now, you know, you can, with even pushing with those with these levels in your core, inflation is still based to be very high above 5 percent. Basic inflation level remains. Lets just say for example, we now have a major russian offensive in the next month, which is my prediction. Okay, i think were probably going to go sky high. I think that basically we can see literally natural gas price going right back up. Okay. The europe displacing the winter, and we see a repeats in the next, whatever it spring to 6 months, like what we saw like last year. Im telling you the inflation genie will be possible to put back in the bottle. Then youre going to be talking about speculation. That question is even worse than reception, by the way, a good thing is in the research and you can bring down these those rates in a 2nd place and you can even bring them Interest Rates because any question is going to go up even more. Okay, we saw that we saw the for the worst it figures from britain since 1961 is a proportion of a g d p. We see germany in recession now carefully. Given the brick summit is coming up, how carefully the global side countries have to have to be when it comes to divesting themselves of debt, european debt, and, and america debt. Then given that your board training are kind of good to ask for free in nato countries, economies because obviously they cant just sell it now because the seller will about china is being selling a gradually, by 800000000000 now. Um yeah. Okay, definitely. Do they have to do that . First of all, not that much, not that fast, by the way, an economy would possibly yet. Im not gonna worry about the us dollar yet. Because 1st of all, the us is the big winner of this. Right . I mean, the us is, you know, basically using your to basically, um, to basically uh, the soft rock shock than we even try. Right. Because i mean, i mean, i mean china was basically, is billed germanys largest export market out of you and not the us by the way. And what time, even though there are kind of war with each other are allowed to be right. Is ok. But the point is that was who you was is still looking pretty know. But when we had an understanding about the global south is 1st of all the global stuff as a group, were talking about know china, brazil, russia, india, and basically the rest of them. Theyve gone on the whole an aggregate, chrysler plus. In other words, they are not sorry, not to say verse, which means that they have to invest their money. Something else outside the block. Right now honestly, in your, in view, this is man. Okay. You just basically, sol, some stuff to basically rush or are you happy to sit on the roster and roll . Well, what do you ever Chinese Business men be interested in basically sending on the indian routine . Probably not. I can guarantee you. Probably not. One thing is to basically make payments using a brief crime scene. Another thing is to fix your hard earned savings and investment is right basically office. Theres a reason why the dollar is, is where it is right now. The us stock market has been the best performing stock market in the world and the last 2 years. Okay. This is, there is no other market that even comes close to charging stock market is the one of the worst. 20 years actually is this part of our chinese, the companys been growing. The chinese stock market has been terrible, terrible because trying these companies are not very profitable. And because the country is still based on that. So you will, they could be the different system as to how investment is made as, as, apart from the printing of money, which has happened in the United States since the west and even on the crisis. I mean, you make the point in your video about the, the dollar, but that good sanctions change all of that. I mean, given that the usa, you know, the, the new york song states has done very well. But the point was, the dollar is fungible. You can sell it, you can buy it everywhere. Its a dont sanctions change that for the 1st time, people around the world suddenly realize its not safe to have dollars storage. Because your country, whether it be in latin america, central america, or africa, or south east asia. If, if you politically take the wrong pauses of the state, department sees it, you, you can be sanction, you can lose the money youre going to 3rd party sanctions. Its not a great currency after all. Sure. This is why you know, what are the dollar, the questions where you get the best partner currency you can do the job nice in the europeans are in the, are in cahoots of the us. So its like in your much, im going to get some of those people who, you know was going to come just get it by europe in japan as well. So when you look, the width is investing each other and there are lots of problems with that. As we said before, right, well one thing you have to set lower returns. No. However, that said, i do think there is one outset that will do every. So ill perform everything go. That has to be goal. Right . Yeah, theres only goal and theres going to be says, no, go like this is why i moved out like the reason why gold prices haul up very high despite this all up in bonds. Because normally when Interest Rates go up, you know, go present, go down because gold doesnt pay interest. So thats what Interest Rate score the price goes down. You know, in the last year is pretty remarkable. The Interest Rate been going up, the goal is still very, very hot. Okay. I get the i can always hear the car and see trade is right now complaining that youre, youre forgetting another another way out of all of that. But um, but why, why do you think it is then that there is this a group think im in think tanks amongst you unless in the media, im a monthly does that alone politicians then in nato countries that think the everything is going to be is good its going to go the way they want it to be to go and the to the dollars still there and sanctions are useful weapon. I mean, why did everyone thinks and sanctions were going to work against russia . I just want to say this, you know, like what you get down to the brass tax. Why the dollars so strong . Despite all the problems of us phases is because, you know, apple is a us company. Facebook is us company. Google is on facebook. Theres a come, its a us company and microsoft, i dont to tell you today these the so called basically magnificent 7. Know what the 45 percent of market capitalize is from s and p 500. 00. These Companies Might not release their global monopolies, their wi fi, the way the u. S. Foreign policy is being conducted to allow these Companies Continue to basically maintain their monopolies. What is really going on is that the whole entire world, especially in europe and the allies, are paying this honey tax to us every year in the form of basically what revenue to these basically us tech monopolies. Thatd be kind of also. Meanwhile, the biggest donors to the Democratic Party that basically use everything they got to help basically dumb across the cure, the 2020 election in the midterm. But that is why the dollar is so start. I think the most important things happened. The last 3 months, the market is affecting your queen and Government Debts a hi phone. Up to 16 percent. Im talking about price appreciation. You dont have the 55 Ukrainian Government bond maturing on 2040 what day. And hes gone of 50 percent. That thing has output, but we think putting all the big pack monopolies. And the reason is because yeah, more people are thinking while ukraine is going to kick them off to the buying said the ukraine, the what is already lost, where yeah, ive got, by the way, investors may be thinking that, you know, may be, you know, as the new as good, the rock deeper and deeper into ukraine, ukraines problem becomes americas problem. Maybe the us tax, but its going to be on the hook for you crate Government Debt and liabilities and everything else. I urge anything that the next few weeks you will see that ukrainian basically counter offensive run this course. I think the russians what has really impressed me again, this is not about me being pro actual preview crazy. Just as an objective observer, looking at the basically battlefield, the russians are constantly learning from their mistakes. And you look at the development of you, what is the length of the drums. The cases need to basically helicopters, youre talking about basically the so the 34. 00 youre talking about, the night vision goggles, the rushing, basically, new technology has been a little totally like going from a revolution every 3 months. There was a no finding with weapons or the who have 18 months ago because they didnt exist 18 months ago. And not to me is the most impressive thing. This is a reason why, why its the west has to walk around the same circle. Roger is Getting Better and better, and this more its going to be won by technology. And yet, because i know the premiums are good fighters, they are fearless, the patriotic, theyre just going to be suicide missions. But any, and i think technology is going to win, and russia is going to base the cost of it, russia hashes present ukraine, that will be the end of the american has your money as we now talk to you. They have it. Well, thank you to thank you. Thats it for the show. More economics and the impact of the war in europe on monday was renowned professor Michael Hudson to discuss his new book on debt, the collapse of antiquity. But until then, keep in touch, why will i social media if its nonsense and then youll country and how do i travel going underground tv on rumble, dot com to watch new and old episodes of going underground see monday the the, the wires and why in this country, what if i give birth plenty of the store in this they should have been a short order for now. Im not going to stay alive. So can i scan when i am . What doc or does that just your desktop session . I am no. Lets just sean your just a bunch of mine is when you sit on the set up on me and the the my only beauty is that you should not stays home as im not doing the struggle for myself. Im doing it for my nation, for you, for the future of your children. If you dont write up for your rights, you will leave the live of slaves and wrong cottages, his supporters to protest as the progress funding cool sentences. The form of the problem is that the 3 is in prison on corruption charges are being denied account um its a confidence in each as echo oscar that invades 2 hips country. I left the house, the president in real estate didnt buy sunday. So hold in and hes yeah, riley against the blogs in civic life, the media and the people of the chair to entire staff. Thats been that what