Our international. Oh max kaiser this is the kaiser report i go to areas sense that things are not quite what they peer to be stacy in fact were going to look out at california 1st and then were going to go to a town right here in new york and that is kingston new york where our guest in the 2nd half is from it is going to its a tale of 2 economic models over in california we know not only do we have forest fires going on all over the place huge fires thousands of people being evacuated from their homes but we see blackouts millions of people suffer and blackouts and p. G. And e. The multinational basically utility the giant Utility Company listed on the Stock Exchange they have declared bankruptcy to avoid all their obligations over you know over the last years disaster and it looks like we have a disaster again this year and people in california are not happy with the blackouts stop harassing p. G. And e. Workers Gavin Newsome says they didnt create this mass amid reports of pacific
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
That is why they have been scrambling to try to put up these traffic signs here on El Camino Royale and get the word out to people they need to be prepared if the lights go out. Running extra phone lines, setting up extra computer stations, tech, and Emergency Operations staff are rushing to prepare for the possibility pg e will cut the power to someone hundred 95,000 people in San Mateo County. This is our first time. With all the previous shutdowns, that did affect San Mateo County, we were repeating in these calls. Reporter Officials Say they would not know exact numbers or locations of pg e communities for people to go and charge medical devices until saturday. They are urging people to prepare sct agencies staff up. We are not keeping these Additional Resources out of our county due to the potential wind event we are expected to have here this weekend. We want to make sure we have adequate resources. Reporter at a media briefing, pg e said they are expecting historic winds and dry