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BONUS! Corona-Money Talk with Dyaln Ratigan! Episode 4

2020-05-16 | 🔗

Will the United States turn into Brazil?

The latest Stimulus Bill is useless garbage!

 

This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Here, listening to a Jimmy, JOR Show bonus, corona, muddy chalk with Dylan Radegund money and the economy during the covert nineteen pandemic episode. For you, a special bonus bonus edition of Corona Money, talk with Dylan Rat again, of course, New York Times by selling author Ward, winning journalists and former hosts of his own show CNBC Msnbc, and now he does podcast for tasty, trade with Tom Sano. I always forget the name of it. What is it called or skepticism truth or scepticism over a tape Detroit quite a lot of capital that, under the current videos legislation, not a lot of truth now. I know a lot of truth. Let's get right to it, I say this articles from and medium, why do you
view bear HAWK article yeah how'd. He sees them who bear HAWK, ok, so he wrote this article and medium we'll go by woke up, is gonna go through some of it, and I will comment on it, and so talking about what what the United States is? Gonna look like after the Congress and the President is done. Screwing us through all these stimulus packages after they close, after they impose an economic shut down on every business and then they reject the economy to screw everybody except the v very, very wealthy and a lot of people are afraid more than that they actually provide a ton of resources to the very wealthy to accelerate their concerns.
asian while simultaneously shutting down all the small businesses, while keeping the targets of the world open such that the exempt future existence of small business is highly compromise about eliminated, perhaps them while the market share for the largest businesses is massively expanded as a gun policy and its almost it's almost like. If, if, if you were a sociopath and you took over country, this is what you would do right. It's not even almost like. So here's what or would just be if you're partnered with the largest businesses to extract a country to its bone is what you do. what you do so It looks grim and an how grim is it well, this article is actually paints a even grimmer picture than I was an I've been the old but screaming how grim it's going to be. This is even grimmer than I thought, and so here comes.
Corona virus or, more accurately, the lack of response to it were a problem we finish off, what's left of the american economy Cole end up a country with permanently lower levels of all the following employment income Savings trust happiness, assets and so. fourth permanent, lower levels of all those things Amerika was on the restructuring of restructuring like Brazil. Remember yet where its Their restructuring are so what made our country great? What made immigrants want to come to this country was that we an economic system that created at a myth class rights. There is no middle class anymore, they ve been crushed. We Eighty percent, like I said, eighty percent of workers before this we're working paycheck to paycheck, so here. He goes out, this is America was already in the process of becoming
something very much like a poor country with the failed power. It takes of one two but corroded Virus will accelerate an finalize America's grim transformation into poverty, paralysis and collapse, so he took about the five things that are gonna happen, these five consequences of what they are doing right now in common, and with this corona virus, he says first because waves of businesses have closed nature of unemployment changes. It goes from a short term challenge to find work, to a long term lack of jobs. So what it? What is that what does that mean Dylan talked could talk me about that? What is the difference between GO from a short term challenge to find work to a long term lack of jobs at all. Well again, when you have
many many enterprises and most jobs are created by not small businesses, but by new businesses, and so in order to have new businesses, you need to have you need to have a lot of money available in small amounts to many people, so that people with ideas can get ten thousand dollars? Five thousand dollars, twenty five thousand Fifty thousand dollars two thousand dollars a hundred thousand dollars to initiate experiments in enterprise, whether its candlestick making soap, making Furniture making whatever whatever whatever it is. Then when you have those abundant amounts of small amounts of money, you have a very diverse, very resilient, very active new business economy.
When you are ready to do it small businesses, then what happens if you end up with a very small number of employers with relatively low paying job that giant companies like target or wherever and though those number of jobs are finite and the amount of money that is available to create new small businesses, New Youtube channels at all, take any category the ability to initiate something new that small in size is not eliminated, but is significantly reduced. As a result, the pool of human beings, who would have gone back to the job at
candlestick maker, the Borgo at any of these- that the union cannot submit grass pose such a little bit. So that's a story but records, but you get my colleague even those based on all of those jobs, because those businesses have been eliminated from the economy. There is not a does. No bears no business to go back to it. Does no business to create because of the disease has been consolidated between the beggar stores. The mega digital operations in the Amazon of this world so creates a much bigger pool. If you would beings who no longer can create a new business or create a do or or security job, because the mega businesses are optimize to limit the number of people first, and about the relay, employ this Walmart or somebody else there trying to do it with the lowest possible labour costs. So so what you're saying is those those businesses, those small businesses, the new bitter not ever coming back.
And so all the all those all the converse that was taken up by those are gonna, be absorbed into large businesses and That's so there will be a permanent high unemployment rate in America. That's right, but I uploaded no health care for those people by the way and right and no healthcare, ok, Okay, so the next thing he says that brings me to the second transformation talks about five transformations of our country is economy, he says so. The second transformation is depression. Wreak economies oh permanently, poorer, yes, in forever, It's already happening in America to yesterday's. If not, if not, great, but somewhat. decent jobs we're already beings substituted away by the new, gruesome gigs.
modern day, american Techno Capital offers driving an uber delivering an instacart selling a patent on Amazon corona virus, has accelerated out that. So what does that mean? What what does he mean by depressions economies? Economies grow permanently poor because it was so think of it like this, when you have what they have twenty kindergartners in a kindergarten class. If everybody in that class has a relatively similar amounts
cookies. There are a lot of cookies between all those people that they can then exchange with each other for brownies or magnets, or whatever the kids want to trade with each other, and so now you have all these magnets and all these brownies and all these cookies and all these things that are going back between the kids, because all the kids have some amount of currency to function with being the currency of cookies, brownies and magnets. But when one of the kids has all of the cookies brownies and magnets
It's because their friends, the teacher in the teachers made the rules were all me. If you are comedian with a view to channel who lived in Pasadena, you allowed to have cookies, because governments making policies where or the teachers making policies where only that that person gets all the cookies, then you have the other. Nineteen students in the bid in there in the class have absolutely nothing, and so they can't trade anything with each other and they can't get access to basic approved and, as a result, you now have a permanently poor. Upon me. because money is not only that money or or currency services are only as valuable as the number of people that are able will the trade inside of it to you, as you eliminate huge sections of the economy from their ability to trade in the economy? then the overall economy loses structurally and permanently value? Okay, so silly
it will be so just be permanently a more poor people, though, be a bigger underclass Brazil like Brazil, and then he moves on to his third. He said so what happens to poor societies? He says there left in it kind of terrible paradox, which is my third transformation. They can afford the very things they need to survive. Most Why is it at the average American is the only person in the rich world by now who still votes against their own healthcare, retired education, childcare and so on, because they can Afford it so what he saying is most people in America are living on the margins right now anyway, and so when they hear a social programme being proposed that they think low raise their taxes or cost more money there, instinctively in reflexively against it, because they think they can afford it? Is that what he saw, your traditional, that's, your traditional sort of
serve. It is who grew by votes against the radical self interest, because there are already struggling as it is to hold on to what they have. The last thing they want to do is say that a government taking the last of what they have and giving it away so what so? What is he saying that state are going to go bankrupt now, and so what they're gonna have to do is raise taxes which, as people don't have the money to pay so they're gonna now have two Greek reduce services right, that's right! Sort! wow, okay, so moving on Who is already becoming too poor of a society to have functioning public goods like healthcare retirement for all, and corona virus is going to seal that fate? America, be poor now far too poor to ever really make the transition to having decent public goods. Think of at full half of the american population, whose now not employed how
actually are they going to afford the higher taxes it takes to have a european or canadian style social contract they struggled, they struck bill to before and after corona virus. It's going to be flatly impossible. Do you agree with that assessment of course exaggerated tonight that its mathematical, when, when you take when you remove the last of the basic resources and a basic tradable economy from which it? Although small businesses, all those little services that go on when you remove that from the economy you a remedy the ability for ready those things to exert a man. By definition, you have a permanently impoverished under glass, which is what what's big Nancy policy, as is really working to make sure happens. Is she really is, and he said, That brings me to my fourth transformation. Has result of
depression and economies. Whole structure tends to change. Has group oops classes and segments think of Erica not so long ago. It structure resembled a bell curve abroad, middle class a small number of rich and the larger, but still small, number of very poor. and then around two thousand and ten. For the first time, America's middle class became a minority. The J Bell curve was on its way to becoming something more like. A. U shape. Society a very rich and everyone else imploded middle and the old working class. Who became the left behind, all of whom became the poor that aid the percent? That's the! Eighty percent living page- to paycheck. Corona virus will accelerate that change too. Europe has already dying middle class and working class will finally, crumbled
coalesce into one vast permanent underclass America will have effectively mass pool of something very. It's like easily Gore rhythmically, exploited, Techno feudal Neil serves? Let me say that again, a man Erica, we'll have a actively a massive pool of sir something very much like easily algorithm? Thickly, exploited, techno, feudal, Neil Serfs, that's quite a phrase: people who have reverted to servitude to me living, Only their overseers are an app. these low income service jobs are. Economists jargon for people becoming servants against to whom the Cacus Stock receive so tell me talk talk about that
so we're all going to so we don't manufacture anything here. We don't make anything that, and so what's going to we're all going to be coming into these gig Tuff get jobs that don't pay thing or just cordial clicking clicking on things. An answer when seen I'd like it like. I would like to spend some time in Rural Burma yeah where it where they dont at its pre industrial. So there is no plumbing, there's no cement, there's no battle, it would in my heart and but they all have phones her while so what does he mean by a cacus stock received? What is that? Do you know that you raise or they over Glass Super registered Amir like to use the words I'll pay. You stay close to his mind. Okay, can you you're coming in a little soft? Can you talk a little into you, I'm sorry, ok, thank you! Buddy!
This is an area that brings me to my fifth and final transformation. What happen to societies with imploded structures, the gentle bell curve of in a modern society abroad middle is so crucial because it underpins and anchors democracy, democracy. He is a luxury it takes time. It takes money and effort to be a demo society, a society of servants is rarely a truly democratic one. Think historically, for a moment for this simple reason that well, servants are too busy being exploited around the clock to really engage I read with the rest publicly. The bar the politics so society structure, implodes from a gentle bell curve into a: u shape its use, accompanied by political implosion? Two into thought: terrorism, theocracy fascism or any number of other tyrannies. Why
bought it couldn't have been inevitable consequence of creating b b underclass than the super class so he saying that that there won't be a revolution like there isn't a revolution and say India or Brazil or historically is weak cause those people who should be revolting are too busy scrambling being expire, to trying to that's what I've said why they won't give us health care is the reason why they won't give you health care in America is because, if you did, it would make it much easier for you to strike and it would be much easier for you to take control of your life's away from the corporation? But I don't I don't know that seems too almost obvious right areas, but people don't?
think about it beyond their own personal circumstances, they don't think about it as a systemic implication, across cans and hundreds of millions of people, and they did they get about about. It relates to themselves who bears point as when you make that the de facto standard operating procedure further society, if a create the dynamic that he's describing and then what, by the time people do try to protest powers, but so richly consolidated that they can simply feel the protesters as countries like China might or an avid do, or Russia or IRAN wants. You consolidate power to the point where you have. The massive underclass of the super glass like the time to protest is, when you have of relevant enough in a viable enough middle class in democracy, that the political overlords are not willing to go to straight murder and incarceration to put down protest. But as the power about become so fully consolidated, it becomes easier and easier for the soup,
class to use violence, incarceration and murder as a mechanism to suppress, as they do again in IRAN in North Korea, Et Cetera. So here's his final paragraph I'll reach you. It says America's social structure collapsing foretold, the rise of trumpism. If you understood what the implosion of the middle class meant in twenty ten, you could have predicted. Trump is a mile out. I did it I see today is more only worse society these growing poor can't just not afford functioning social systems, they can afford democracy, either I was on that trajectory, but corona is like adding a rocket engine to it. How democratic, a nation. Do you think America will be what a full half of its population is now not in employment. You can you can already see that Americans hover
between despising each other and be totally indifferent to each other once preservation is an everyday struggle, that's the result, but the struggle where America Self present american self preservation is about to get a whole lot harder, more intense, more painful, more tragic, and that spells the end. of America's time as a democracy to most, likely do you agree that I bet telling people. Democracy has already been stolen from you since started this show because it has, it's been proven academically by the Princeton study. It doesn't matter what the bottom eighty percent of earners in America think or what they will I've done. It doesn't get reflected in legislation. So when he says that he's the one We've already lost our democracy right
yeah functionally. Yes, I mean we have the branding of democracy, but obviously we don't have a democracy, because no one in the country wants all the largest companies to get all the resources, and no one in the country wants to have the most expensive health care in the world. Twice the world's health care costs and have nobody have healthcare, so democracy represented the interest of the people. There's a reason. percent. The people don't feel that politicians represent represent right. It's because they don't. That would probably the price they ve got a consolidation of the two parties and because you know everybody that whatever the delusion people had on either side thinking that they were taking their interests. I am hopeful that the corona virus is proven to people that that these parties are a single party, a single ruling party, exploiting them violently yeah, I'm really the beauty or the or the nefariousness
the insidious news of a two party system is that they can in perpetuity blamed the other people and that all they do is then able put in our guy. So all you hate George Bush, because he's a Republican, we're gonna? Put in Democrat, we put in a Democrat who does exactly the same stuff even worse than George Bush was doing. oh you hate. Your life worse under Barack Obama, we're going to put it in a republican huh does exactly if not worse, the stuff that Barack Obama was doing it's a maid. It's like there is no difference in party rule right now and Nancy Pelosi won't even give you health care in the middle of a pandemic and the people who are progressives in Congress, won't even call her out or revolted against her the most we can hope for is for them to ask her in Sternway on a phone call, that's it! So what would it
once again, the reason why I wanted to read this to people or share this article with people and get your commentary is, is because this, I I think that article isn't even starker future than we more dystopian future than we've been laying out here and now. guy seems to know what he's talking about he. According to him, he predicted Trumpism We are using the big harboured writer ready either days. Are you the Harvard intellectual who sort of moved it ultimately moved to London to be couldn't? Take it anymore. Now, writes these observations, yeah But it's everywhere, it's not just here. So what is it? What what? How would you say? How would you to sum up there Dylan that article or what, where we are right now
we might by my bottom line as I've really recommend everybody star to learn studying, understand, be they really effective protest methods of both Hong Kong and and France, which are based on a in extremely well organised but pulsing MAC Ideology methodology, as opposed to a permanent occupation, owes much more effective to have his pulse surge of protests were pure egg at the live at home and be dont have to live in the street and see when the pall surge happens, it's much more overwhelming and has many more participants. While I would really recommend April studies And begin to practice it. So what the what little I know about, what's how the Yellow Vest function in France is that what you are saying before, as they would meet every Saturday and it doesn't have to be the big protest, but it keeps approach test active. So when you really need to shut some shit down, it's kind of
It's always been there never went away. Its It's my causing radically like its peak of a policy that last over time right that gets that Ngos and Hong Kong really bastard effort. France was also brilliant at at at at attracts way. More people can participate in a pulse search table protest. It doesn't have to be violent at all. It's wacky way more effective what it's not as Hong Kong really demonstrated more than anybody ends, but because it's so much more massive and so much more undeniable and so much less violent and so much more or less agree more of a party almost that is profoundly affected and that's what needs to happen. We we brought out now Jane Mc Levy. She's Long time union organizer talking about how to get to a ninety percent strike, she predicted lots more strike what happened before the election and lots more after
so we're going to have tomorrow tomorrow? Do we have on tomorrow staff? What's her name, LISA Pivian, and she's, also an activist for decades activist you worker worker, organizer organizer, for so so that's what needs happen, that's where it needs to come, and you know if you You, whenever you hear a leader today saying they have some answers to the problems and if they don't involve direct action or worker, Labor labour unions worker strikes that they're not serious, is that's the only power? We have right now. That's it! That's the only power we have sought to study the part that the good, the joy all non violent surge protests strategy, which was optimize last year and is badly more effective at the angry Crowd which is easily dismissed, got Poland is really unattractive attracted now. How would you have categorize would occupy Wall Street was.
started out as a beautiful beautiful Paul that, within three weeks I was living near you Cati Park at the time. Started out is really beautiful. Sir. job energy that that rapid, rapidly degraded it anger and its own sort of low consciousness of power. It and an ego. yeah. I do not know about putting started beautifully, the leaderless model? I don't think I don't think it works. I think you need to have leaders stand there. I really kept up a shared culture that bathed Paul Search party right right, right, hey, so A lot of people work. You brought up whenever someone talks about China on the show people go fucking crazy. I saw that so would Danny high fog was on so silly the praises of China's one party state and have their response.
So to the people. People went nuts and now, when mats dollar was on same thing, he was he was the other way and then Saint with you right. So what do you say to the people Dylan, who say: hey those Hong Kong protests are like CIA. funded and organized. What is that? What do you say to that? I don't think the CIA is so powerful that they can create three million people in the street. I think the CIA is powerful enough to create three thousand people on the street But if the energy- let's assume the CIA, is doing it just for fun of it. I have no idea, but let's assume CIA is the catalyst the CIA. If the pent up native energy doesn't exist in the first place, how are you going to get half of an entire one of the global capital, into the street right so you're saying that this
beat is one of those systematic legitimacy. I read the batch just brought purposes right back only like something at the bottom right. I got you I hear you say I can speak intelligently on the subject yeah thanks again for taken time out and everybody checker Corona money talks areas. This is a part of that we drop a podcast now every Wednesday, we dropped one today did we drop. It is all new all new. I have to have this written down for me, but anyway, but were we're dropping under Corona Money talk every week with Dylan And ass, a check it out thanks
Adele and take care of yourself in we'll talk to you next week now bring the money money. We want more money, man, a man and you don't know about a red and white man, not right.
Transcript generated on 2020-12-30.