Capitalism work for all. Across talking capitalism im joined by my guest Geoffrey Tucker in new york he is editorial director for the American Institute for Economic Research in los angeles we have piii and he is an independent economic and geo political analyst former commodities trader and Strategic Planning advisor and in indianapolis we Cross Alexandra hudson she is an independent scholar writer consultant and speaker right across cycles in effect that means you can jump in anytime you want and i always appreciate go to pi 1st because i one of my rules on this program we always go to the person that got up early is that you got up really early for those programs i wrote very much appreciated by you know theres a lot of talk about how capitalism is. Performing and for whom and we look at the generation x. We look at the middle millennial as we see the attraction of socialism in the polls so my question is very broad and its a very deep question at the same time he said is capitalism
Capitalism work for all. Across talking capitalism im joined by my guest Geoffrey Tucker in new york he is editorial director for the American Institute for Economic Research in los angeles we have piii and he is an independent economic and geo political analyst former commodities trader and Strategic Planning advisor and in indianapolis we Cross Alexandra hudson she is an independent scholar writer consultant and speaker or across type rules in effect that means you can jump in anytime you want and i always appreciate its go to pi 1st because i one of my rules on this program we always go to the person that got up early is that you got up really early for those programs and im very much appreciated by you know theres a lot of talk about how capitalism is. Performing and for home and we look at the generation x. We look at the middle millennial as we see the attraction of socialism in the polls so my question is very broad and its a very deep question at the same time as it is capitali
The generation x. We look at the middle millennial as we see the attraction of socialism in the polls so my question is very broad and its a very deep question at the same time as it is capitalism working if it is for whom go ahead. Its a great question. Kind of response question is whether capitalism who is capitalism i mean its 201920 years ago we had the strongest economy known to man with you know Everything Technology and the promises of the internet and efficiency the lowest real rate of unemployment back then versus real unemployment right now being a multiple of what the government states that it is so why was capitalism working so splendidly back then versus the over indebted over leveraged version of it right now it really begs the question over if its classical kind of adam smith and david ricardo. Joseph schumpeter capitalism as taught in college and grad school or if its more of an i and randy and survival of the fittest at any and all costs by any means necessary vulture
19 pandemic on monday the price of crude oil fell 8 to negative 37. 63 so anyone expecting a delivery would have actually been paid to accept it rather than paying to buy it to better understand this lets look at the most widely followed Oil Futures Contract in the United States west texas intermediate crude its june contracts fell over 40 percent with fewer people driving flying or shipping this combined with an excess in Global Oil Production has greatly contributed to the falling market just we have never seen anything like this and of course its a consequence of the pandemic which will eventually and still Oil Production production had already outpaced our need for it so where do you see the oil industry going from here is this a wake up call for it. Well you need to let me take you back in time for sed lets go back to the end of the vietnam war when the war ended in vietnam we had plenty of gas we were supporting the war machine war machines require huge amounts of gasoline and oi
The news which is why im not going to give you those stories those tired stories im to give you the hidden stories and heres one of them this pandemic has been made worse and continues to be made worse by toxic nationalism which is hilarious considering the virus doesnt get by your borders it doesnt care if you put above or you speak a different language or youre an immigrant or you got circumcised in a ceremony where the shah minute chanting and buckets of mangoes and there were bagpipes playing virus doesnt give a 3rd are talking about how one country is better or worse or whatever right now during this pandemic its like youve all heard of angry rhinos was stampeding towards you and youre talking about how you have nicer shoes on than the guy next to you ride knows dont care or rhino is going to kill for you all when the court with the when the coronavirus was 1st being talked about or government and our media used it as a chance for anti china propaganda the New York Times put it th