Over National Security concerns. A colleague brings you another news update next hour dont go anywhere there is kaiser report but if youre away stay with us. Max kaiser this is the kaiser a party of all or that expression if you find yourself in a hole stop digging sounds logical right. For one particular industry. Well thing indeed in fact there are 2 industries and weve talked about them often thats the Tech Industry we have the tech bubble 2. 00 with we were left peloton all of those sort of companies and we have the fracking one and thats important for this 1st headline for wall street dot com because he looks at all these bubbles going on what he says is heres what im worried about with the everything bubble how cash burn machines power the real economy and what happens to the economy when investors refuse to have more of their cash burned so he calls it the cash burn machines these are investors willing to just keep throwing money into ever losing operations we work. Of course th
A utility electricity and whenever they get in trouble they use declare bankruptcy so its an asymmetric warfare going on they extract wealth and when they get caught doing bad stuff they simply say oh were going to go bankrupt and as a result youve got these enormous wildfires burning youve got the economy in danger youve got peoples lives in danger because as private corporations they know how to game the system in a way to absolve them from any responsibility and to not pay for what are called in economics the externalities of their Business Model it so the should not be in private hands transportation should not be in private hands education and medical Health Services should not be in private hands for this reason because youve got gouging and monopolization in the private sector its not appropriate for these basic or utility. As of the economy our Corporate Structure today is one of private equity it extracts that equity and it leaves a carcass of debt that is indeed what you see
Utilities you have a distinct preference for the role of government why in the case p. G. A. They are a private corporation in the business of providing a utility electricity whenever they get in trouble is declared bankruptcy. So its an asymmetric warfare going on they extract wealth and when they get caught doing bad stuff they simply so were going to go bankrupt and as a result youve got these enormous wildfires burning youve got the economy in danger youve got peoples lives in danger because. Private corporations they know how to game the system in a way to absolve them from any responsibility and to not pay for what are called in economics the extra analyses of their Business Model its old he should not be in private hands transportation should not be in private hands education and medical Health Services should not be in private hands for this reason because youve got gouging and monopolization in the private sector its not appropriate for these basic core utilities of the econom
Dont have enough taxes anyway to cover the maintenance on it and so it is the corporations it is the government and it is the taxpayers across the United States who have helped hollow out the infrastructure that was provided and paid for by previous generate the previous generation and im going to talk about this because there is an actual word for it and that is called technical debt the toxic bubble of technical debt threatening america Climate Change will soon expose a crippling problem embedded in the nations infrastructure and fire ravaged california it already has a kind of toxic debt is embedded in much of the infrastructure that america built during the 20th century for decades Corporate Executives as well as city county state and federal officials not to mention voters have decided against doing the routine maintenance and deeper upgrades to ensure that Electrical Systems roads bridges down and other infrastructure can function properly under a range of conditions kicking the
Equity it extracts that equity and it leaves a carcass of debt that is indeed what you see here but the other thing you see especially in california is the woke progressives have basically enabled the tax regime whereby they always win so in california the property taxes for those who have ben there you know for the past 1020 years are extremely low and theyre not theyve passed laws long ago where they youre not allowed to raise taxes so the cost of maintaining the infrastructure in regard to the utilities they dont have enough taxes anyway to cover the maintenance on it and so it is the corporations it is the government and it is the taxpayers across the United States who have helped hollow d out the infrastructure that was provided and paid for by previous generate the previous generation and im going to talk about this because there is an actual word for it. And that is called technical debt the toxic bubble of technical debt threatening america Climate Change will soon expose a cri