Podcast appearances and mentions of Robert Rubin

Denise Maple shares her journey, starting from her early interest in business and finance, her 25-year career in banking, and her eventual move into entrepreneurship and spiritual coaching. Learn about the valuable transferable skills she picked up along the way, the challenges and rewards of her diverse career path, and her current endeavors in helping others find balance and fulfillment.▬▬▬▬▬ Resources ▬▬▬▬▬Denise Maple: https://www.linkedin.com/in/denisemaple/Dr. Robert Rubin: https://www.linkedin.com/in/robertsrubin/LinkedIn Post: https://www.linkedin.com/posts/denisemaple_nationalretroday-throwback-wellnessatwork-activity-7300877343923834881-Ub6l/Live Life: https://livelifespiritual.com/Columbia College Chicago: https://www.colum.edu/U of I Gies College of Business: https://giesbusiness.illinois.edu/Reiki: https://www.medicalnewstoday.com/articles/308772#definitionCommunity Reinvestment Act: https://www.federalreserve.gov/consumerscommunities/cra_about.htmInstagram: https://www.instagram.com/cacklemedia/TikTok: https://www.tiktok.com/@cacklemediaX: https://x.com/CackleMediaLLCYouTube: https://www.youtube.com/@CackleMediaLinkedIn: https://www.linkedin.com/company/cacklemedia/Support the pod when signing up for Descript / SquadCast: https://get.descript.com/transferableskill▬▬▬▬▬ Timestamps ▬▬▬▬▬00:00 Introduction and Guest Welcome00:24 Denise Maple's Early Career and Motivation01:25 Insights into Commercial Banking07:00 Transition to Teaching and Entrepreneurship25:54 Spiritual Coaching and Business Consulting32:05 Balancing Spirituality and Professional Life36:27 Conclusion and Final Thoughts

Ray McGuire, Lazard’s president, and Robert Rubin, former US Treasury, Spoke with Bloomberg's Lisa Abramowicz to discuss tariffs and Trumps administration at Bloomberg Invest in New York. See omnystudio.com/listener for privacy information.

Robert Rubin is the leading Tarot authority in the Philippines and has taught hundreds of students about Tarot and Magic. In this  Master Class we focus on the practice of Tarot Magic. It's performing magic with a single tool. Tarot. The cards are used as instruments of magic and this podcast is a spellbinding hour of information on a subject that many people aren't familiar with,  One listener at the end of the class said that "this was an eye opening. great insight on this topic."  Tune in and see for yourself.  Whether you be a tarot reader or a magician, you'll understand how Tarot and Magic go hand in hand.

With over twenty years of experience and hundreds of students trained, Robert Rubin is now the leading Tarot authority in the Philippines.  His new tarot deck, No More Hiding Tarot, is not just beautiful to look at. It's also wonderfully unique as well. It's definitely one of a kind, so listen in and hear all about it.  

Saleha Mohsin is a senior Washington correspondent for Bloomberg News, where she covers policy, politics, and power in Washington, DC. Saleha is also the author of a new book titled, *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order,* and she joins David on Macro Musings to talk about it. Specifically, David and Saleha also discuss the intelligence and enforcement tools of the US Treasury, the basics and importance of SWIFT, the effectiveness of US sanctions, and a lot more.   Transcript for this week's episode.   Saleha's Twitter: @SalehaMohsin Saleha's Bloomberg archive   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server!   Join the Macro Musings mailing list! Check out our Macro Musings merch!   Related Links:   *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order* by Saleha Mohsin   *The Big Take* hosted by Saleha Mohsin   Timestamps:   (00:00:00) – Intro   (00:03:43) – The Weaponization of the Dollar on the Global Stage   (00:08:55) – The Intelligence and Enforcement Tools of the US Treasury Department   (00:13:10) – Breaking Down SWIFT and Its Importance   (00:18:27) – Sanctioning Russian Oligarchs   (00:22:42) – The Importance and Significance of Robert Rubin   (00:25:29) – The George W. Bush of the Treasury Department   (00:37:42) – Breaking Down the Joint Comprehensive Plan of Action   (00:41:06) – The Trump Administration, China, and the Rise of Populism   (00:45:30) – Evaluating the Effectiveness of the Russia Sanctions   (00:51:18) – Threats to the US in the Future   (00:52:48) – Outro

Schaftlein Report Airdate:  Tuesday,  February 6, 2924 Guest -     David Brat Title: Vice-Provost for Engagement & PR, Liberty University Headline - Debt, Taxes and Economic Cracks?  1) Consumers owe Credit card companies $1.05T.  The U.S. government is $34T in Debt. Are we headed for a 'Death Spiral'? What causes a break? 2) Certain voices are calling for tax increases (former Treasury Sec. Robert Rubin). What about actual spending CUTS?  With divided government in an election year, neither spending cuts or tax increases are even on the table. Vermont is considering a Wealth Tax. 3) S & P 500 at record high with certain technology stocks maintaining sky high price to earnings multiples. On the day record high was achieved, more stocks were in the red than in the green.  1987 was the last time that happened.  We'll analyze. 3a) Are $2T government deficits contributing to the stock valuations?   4) Overall price levels remain high with no sign of reduction.  CPI at 3% but car insurance is up 26%. Middle income and low income consumers are getting crushed. Rents have also remained high.  Gas prices have come down, but will a wider middle east conflict cause them to go up?  Politics at play?   5) Trump leading Biden by 5 points in latest NBC poll but way upon the economy and border security, which are the top 2 issues.   6) $118B Border, Ukraine, Israel aid bill in big trouble. YouTube: https://youtu.be/fFwPd_4DZeQ Rumble: https://rumble.com/v4buatf-schaftlein-guest-dave-bratt-headline-debt-taxes-and-economic-cracks..html

Bloomberg's David Westin speaks with Robert Rubin, Former US Treasury Secretary tells us what we can learn from the factors that influenced the Clinton administration to balance the federal budget in the 1990s.See omnystudio.com/listener for privacy information.

 On this edition of Wall Street Week, Saira Malik, Nuveen CIO tells us about election risks to markets around the world. Sharmin Mossavar-Rahmani, Goldman SachsWealth Management Group CIO makes the case for overweight us equites. Robert Rubin, Former US Treasury Secretary tells us what we can learn from the factors that influenced the Clinton administration to balance the federal budget in the 1990s. Purnima Puri, HPS Investment Head of Liquid Credit tells us whether she expects credit markets to price in a recession.  See omnystudio.com/listener for privacy information.

This week we talk about Rubinomics, government spending, and US federal debt.We also discuss the Government-Household analogy, the House of Representatives, and the looming government shutdown.Recommended Book: Quantum Supremacy by Michio KakuTranscriptEarly in November 2023, the credit firm Moody's lowered its outlook on the US government's credit rating from "stable" to "negative," pointing at a huge decline in debt affordability—the government's ability to borrow money cheaply, basically—and an ever-increasing, already gargantuan deficit as its primary justifications for that change.And those issues are on top of another standoff in the House of Representatives over funding the government, which, if something isn't done, will come to a head on November 17.A previous agreement struck by the previous House Speaker, Kevin McCarthy, expires on that day, and if a new collection of 12 funding bills, which are what allows the government to pay for things, are not passed by then, the government could be shut down, possibly further diminishing the government's rating, on top of the many other consequences of not providing funding for things like national defense, energy and water development, and the Justice Department.This new reduction in outlook by Moody's follows a recent downgrade by Fitch back in August, when that ratings firm dropped the US government's rating from AAA to AA+, largely because of all the down-to-the-wire negotiations about funding the government that have roiled Congress over the past few years, and what that kind of tumult does to a government's ability to say for 100% certain that they'll pay their debts and never default; the US has never defaulted on its debt, but the possibility becomes more realistic-seeming each time these politicians fail to provide funding for essential government functions, including, debt-paying.Fitch also, like Moody's, cited the general diminishment in fiscal circumstances across the government, though, referring to a collection of variables that have been weighing down the state's capacity to acquire cheap debt.Ratings are one such variable, as each decrease in a nation's credit rating makes debt more expensive, folks and other states buying bonds and treasuries and the like demanding more interest for the same amount of loaned money—which is what those sorts of financial instruments are, at the end of the day.But beyond reputation, there are also factors like high interest rates, hiked by the Fed in order to tamp-down on inflation, and the accumulated interest payments that must be paid on previous debt taken out by the government to pay its bills.So in addition to the government suddenly having to pay more interest on all its new debt, it also has to pay more and more interest on its existing debt, and that latter figure is compounding to the point that a lot of folks who are otherwise generally unconcerned about such things, are starting to take what could turn out to be practical notice.What I'd like to talk about today is Rubinomics, government spending, and why the US federal debt is becoming a political talking point once more.—In the context of federal spending, fiscal responsibility refers to the balancing of a state's budget so that its spending is almost always close to, or below its revenue.So if a government brings in a trillion dollars in revenue, from taxes, for example, and spends a trillion dollars to keep agencies running, infrastructure maintained, and its military up to date, that's a balanced budget.If that same government were to spend a trillion and a half dollars without increasing tax revenues, though, it would have a deficit of half-a-trillion dollars.And if it were to spend less than it pulls in, if it were to reduce the social safety net programs it provides or spend less on its military, and thus only spent a half-trillion of the trillion it earns in taxes, that would represent a surplus of a half-trillion dollars.This is similar, at its most basic, at least, to how an individual might manage their money.Spend more than you make and you'll tend to go into debt, spend less than you make and you can sock money away or invest it, and spend exactly what you make, and your bills will all be paid without accruing debt.This comparison, though intuitive in a way, at least for the purposes of defining the outline of how this works, is also quite flawed—and economists have given it a name, potentially to make criticizing it that much easier: they call it the Government-Household analogy.And this analogy is often-touted by politicians, usually when they want to criticize their opponents for their spending by making it seem like they're less capable and responsible than the average heads of a household; why should we good, hardworking citizens be required to assiduously manage our personal economies, but these freewheeling politicians can't seem to balance a budget of billions or trillions of dollars?The analogy falls apart, though, when you look at the specifics of a household versus a government.Governments, after all, can literally print money if they so choose. They also tend to get far favorable terms on debt, can increase their budgets by raising taxes, and, oddly, if you think of a government as a household, different facets of a government can owe other facets money, so part of the debt owed might be owed to itself.While this analogy is often convincing to voters, then, it's not terribly useful as a model for economists and folks working to actually manage budgets of the scale and with the peculiarities of a government's budget.All that said, there are pros and cons to every possible approach to government debt, as running a deficit, spending more than is pulled in via taxes, means that a state can invest in more programs and infrastructure, and just like a company taking on debt to invest in more manufacturing capacity or warehouses or restaurant locations, that can mean setting things up for growth in the future: a healthy, happy, secure, well-educated populous will tend to do better than the opposite, so spending money on programs that improve and amplify those sorts of things can lead to more revenue sometime later.On the other hand, just like any other debt, federal debt tends to be paid back with interest, and that means the government taking on such debt will not just be on the hook to pay back the initial, principle amount they borrowed, but more than that—and possibly, especially if debt accrues for a long while, or accrues during periods of high interest rates, for them specifically, or more globally, they could be on the hook for a lot more than that.The last time the US government had a balanced budget was in 2001, and it's enjoyed the same for five years total in the past five decades—four of which were the years leading up to and including 2001, the fifth being 1969.This is such a rare state of affairs, in part, because the general economic consensus, amongst economists in the US, at least, is that federal debt isn't a big deal, that it tends to lead to more benefits than downsides, and that it is therefore prudent to not balance the budget, most of the time, because doing so leads to austerity—severe cuts in vital programs and other investments—and that hobbles the nation and its capacity for growth over the long-haul.Balancing the budget just to balance the budget, then, isn't really such a good thing, according to this prevailing theory; it's a compelling rallying cry for some folks occupying some spots on the ideological spectrum, traditionally those on the conservative side of things more than the left, but not spending also comes with consequences, and those consequences tend to outweigh the downsides of accruing some amount of debt, year to year.This mainstream sensibility about debt, though, was subbed-out during that 1998-2001 period, during the Bill Clinton administration, when the Treasury Secretary, Robert Rubin, implemented a policy that became known as Rubinomics, which was defined by an attempt to keep the federal budget balanced as part of a larger effort to control inflation and interest rates—the theory being that this would improve perception of the US economy, which in turn would lead to more investment, local and international, and would allow US economic entities, and thus, US citizens, to flourish.There's been a fair bit of debate as to whether this theory was proved-out by Ruben's policies.Yes, the US economy absolutely killed it while Clinton was in office, and yes long-term interest rates on treasuries and bonds dropped, making it less expensive for the government to take on debt when it wanted to borrow money for whatever.The country's GDP averaged around 4% during that period, inflation maintained a 2.5% rate, which is just north of the 2% rate the Fed prefers, and the US economy saw its longest continuous period of expansion at any point in history.But, and this is a big but, those variables might have also been tweaked by the so-called "peace dividend" of the late-1990s, which was defined by a post-Cold War drawdown of military activity and thus, military spending around the world during that span of time.They may also have been influenced by a series of new trade agreements, hands-off monetary policies, and the benefits of new technologies that were finally being exploited for profitable purposes after a long period of investment, like the consumer internet.So there's a chance that Rubinomics played a role in all that monetary flourishing, but there's also a chance that it was either just one of several influences, or maybe it was mostly just a bystander, or even a downward pressure, on the same, the flourishing primarily or totally the consequence of other variables.Today, part of the aforementioned drama playing out in the US House of Representatives is being driven by a focus on reducing the federal deficit, the total debt the US owes, which recently hit an all-time record high of something like $33 trillion, which carries a total interest payment, as of 2023, of somewhere between $659 billion and a cold trillion dollars a year, depending on who's numbers and analysis you use.That interest payment, at that level, has become one of the top expenses, of any expense category, for the government, surpassing things like the cost of all transportation and veteran's benefits payments, and approaching, or surpassing, depending on which figure you use, the cost of Medicare or the Military.It's primarily, right now at least, the further right members of the House that are demanding substantial cuts to the budget, the Senate mostly keen to keep spending levels where they are, and the majority of House Republicans seem happy to do the same, though Democrats are more likely, on average, to want higher levels of spending nearly across the board, again, right now—who wants what tends to change, at least in the specifics, every decade or so.And this is such a big issue right now in part because of that ballooning deficit, and in part because there's just a lot to spend on, these days, with military and humanitarian funding for Ukraine and Israel on the table, alongside investments in renewable energy infrastructure, in health care, and in other such—by some estimates at least—foundational elements of the government's various programs and priorities.Last weekend, reports from within the House indicated that the new house Speaker, Mike Johnson, wants to pass a stopgap funding bill to avoid a government shutdown before the November 17 deadline, and to do so, he wants to break the funding extension into two parts, rather than having Representatives vote on all 12 funding bills all at once.Each bill would cover different aspects of government funding and would extend spending a little further into the future, keeping spending levels where they are, currently, and providing no new funds to Ukraine or Israel—the former of which is a sticking point for a lot of conservative Representatives, and though this approach is meant to win over enough people from both sides of the aisle to get a stopgap funding bill passed in time to avoid a shutdown, folks across the political spectrum have seemed generally unhappy with it; voting on this could begin as soon as today, and we'll see if people are unhappy in the sense that they didn't get what they want, but they're okay to keep fighting for those things they want while the government stays open, or if they're unhappy in the sense that they'll play chicken with a government shutdown in order to prove their point; for what it's worth, analysts seem pretty mixed on whether this will work or not, at the moment.This general topic, that of the deficit, is likely to only become a more pressing issue, and thus, a more potent political hot potato, as interest rates, which look likely to stay high for at least another year, increase the debt-load the US government has to tend to, making debt more expensive for the government, and safe investment vehicles like treasuries more lucrative for investors—which can have the knock-on effect of making stocks and similar, riskier investments less appealing, possibly hindering economic investment and development even as the government watches the interest payments balloon as an increasingly major expense on its accounting spreadsheets.Show Noteshttps://www.investopedia.com/ask/answers/042415/what-are-pros-and-cons-operating-balancedbudget.asphttps://edition.cnn.com/2023/11/11/politics/house-speaker-mike-johnson-pitches/index.htmlhttps://archive.ph/iyAwIhttps://www.investopedia.com/terms/r/rubinomics.asphttps://www.pewresearch.org/short-reads/2023/02/14/facts-about-the-us-national-debt/https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/https://www.nbcnews.com/politics/congress/-ungovernable-house-republicans-nix-votes-two-funding-bills-shutdown-d-rcna124441https://www.reuters.com/world/us/where-are-12-us-govt-funding-bills-avert-shutdown-2023-11-08/https://www.washingtonpost.com/business/2023/10/20/interest-debt-payment-treasury/https://www.tandfonline.com/doi/abs/10.1080/00213624.2007.11507047https://nbcnews.com/politics/congress/house-republicans-unveil-plan-avert-government-shutdown-week-rcna124629https://www.reuters.com/world/us/where-are-12-us-govt-funding-bills-avert-shutdown-2023-11-08/https://www.reuters.com/markets/us/moodys-changes-outlook-united-states-ratings-negative-2023-11-10/https://www.ft.com/content/226b4ebc-f405-4e03-8b40-44cd9fbb69d0https://www.reuters.com/markets/us/fitch-cuts-us-governments-aaa-credit-rating-by-one-notch-2023-08-01/ This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

Michael talks with Robert Rubin, former secretary of the Treasury and co-chairman of Goldman Sachs, on his book "The Yellow Pad: Making Better Decisions in an Uncertain World." Original air date 7 November 2023. The book was published on 16 May 2023.

In this episode, Uzair talks to Zafar Masud about Pakistan's economy, how to reduce cash in circulation, and why fiscal deficits are the core problem that need resolution. Zafar Masud is an international banker and entrepreneur currently serving as the President and CEO of The Bank of Punjab. Previously, he has been employed at senior positions by multinational banks across Pakistan and abroad. You can read the co-authored piece on cash economy here - https://www.dawn.com/news/1779399/comment-transitioning-away-from-a-cash-economy Chapters: 0:00 Introduction 1:10 Why is cash a problem? 21:50 Demonetization in Pakistan 31:44 Financial inclusion 42:30 Debt restructuring 52:55 Charter of society 1:05:13 Reading recommendations Reading recommendations: - If God was a Banker by Ravi Subramanian - Gambling on Development by Stefan Dercon - Time for Socialism by Thomas Piketty - The Culture Map by Erin Meyer - In an Uncertain World by Robert Rubin

Greg Olear talks with historian and research professor Nelson Lichtenstein, author of “A Fabulous Failure: The Clinton Presidency and the Transformation of American Capitalism,” about the “fabulous decade” of the 1990s, neoliberalism, Robert Rubin, Clinton-era deregulation, NAFTA, healthcare, and the current rise of the labor movement. Plus: a prince sings.Follow Nelson:https://twitter.com/NelsonLichtens1Buy the book:https://www.amazon.com/Fabulous-Failure-Presidency-Transformation-Capitalism/dp/0691245509Thanks HelloFresh! Go to HelloFresh.com/50prevail and use code 50prevail for 50% off plus 15% off the next 2 months!Subscribe to the PREVAIL newsletter:https://gregolear.substack.com/aboutWould you like to tell us more about you? http://survey.podtrac.com/start-survey.aspx?pubid=BffJOlI7qQcF&ver=short. *

Long Island's  Bridgehampton Race Circuit was once regarded as one of America's most challenging race tracks, hosting SCCA, CanAm, TransAm, and the biggest names in racing.Today the property is redeveloped as a luxury golfing club, but with reverence to the history of motorsport.In 2015, Shamin Abas and Jeff Einhorn teamed up with the club's owner, Robert Rubin, to create an exciting new car event called The Bridge, where the world's finest cars and luxury brands come together for a party like no other.VISIT THE BRIDGE:https://www.thebridgehamptons.comSUPPORT THE POD:https://www.buymeacoffee.com/hpheritageINSTAGRAM: @horsepowerheritageYOUTUBE:https://www.youtube.com/results?search_query=horsepower+heritageHORSEPOWER HERITAGE IS NOW ON TWITTER:https://twitter.com/TargaStorioSUPPORT OUR SPONSORS:http://modelcitizendiecast.comhttps://www.drivetowardacure.orgFIND US ON THE WEB:https://www.horsepowerheritage.comSupport the showHORSEPOWER HERITAGE: THE PEOPLE AND STORIES BEHIND THE MACHINES.

Welcome back to the show, Brian Hirschman, Managing Partner of Hirschmann Partnership, also known as the “World's Most Bearish Hedge Fund.” Brian explains how many investors are unaware of how to value gold in comparison to other assets. He details a methodology for analyzing the gold price over long periods and notes that it is currently below the fifty year average, which could cause gold to skyrocket in the coming years. Brian outlines why gold did so well during the inflationary period of the 1970s, as it is the only asset with no counterparty risk. The lack of appreciation for gold may be due to bond investors remaining confident in their inflation expectations, but if that changes, gold will rise. High inflation can be caused by excessive debt, which is a problem for the United States and other Western nations, and Brian references the British Empire's debt to GDP ratio and eventual default. Japan's approach is different, but their situation is precarious as well, with Japanese depositors now getting negative returns when adjusted for inflation. This could lead to depositors investing elsewhere to seek returns, which could be a big problem for the Bank of Japan. Brian also discusses how global bubbles are worsening, and why we could see multiple collapses all at once. He gives some targets for where gold and the miners could head as a result, and explains why the Mining ETFs and equities have largely not kept up with the gold price. He notes that A.I. will likely not be the panacea to get us out of the coming crisis, and that demographics are contributing to entitlement problems and a general decline in the labor force, which is not good for GDP. Time Stamp References:0:00 - Introduction0:30 - Perspectives & Time5:40 - Golds Recent Performance8:10 - Inflation Causes & Effects12:30 - Debt & Avoiding Default20:10 - Capital Control Contagion25:00 - Cures & Causation28:00 - Growing Global Bubbles37:30 - Gold Price Target39:30 - Resource Valuations41:20 - GDXJ Performance43:10 - A.I. & Inevitable Crisis45:30 - Demographic Issues46:55 - Wrap Up Talking Points From This Episode Gold is currently trading below its fifty year average, making it a potential investment opportunity. High inflation caused by excessive debt could lead to a gold surge. Global bubbles, demographics, and A.I. could all contribute to a coming crisis. Guest Links:Twitter: https://twitter.com/HCapitalLLCWebsite: https://www.hcapital.llc Brian Hirschmann, CFA, is the Managing Partner at Hirschmann Partnership (HP) launched in 2014. Since its inception, HP has outperformed its benchmarks by a substantial margin despite being the "World's Most Bearish Hedge Fund," according to ValueWalk. Previously he was an associate at Goldman Sachs Principal Strategies (GSPS), a multi-billion dollar hedge fund whose alumni include Robert Rubin, Tom Steyer, Daniel Och, and Eddie Lampert. After GSPS, Brian returned to Los Angeles to join Hotchkis and Wiley Capital Management where he was an equity-owner and made over $1 billion in long-term investments. Brian graduated with distinction from Yale, where Professor Robert Shiller strongly influenced his investment philosophy. Robert is one of the few to predict both the dot-com and housing bubbles. Robert was also influenced by Professor David Swensen, Yale's legendary endowment manager.

Key Insights:* Critics: Cato-style libertarians, including AEI's Michael Strain. The last die-hard classic Milton Friedman-style economic libertarians—and starting in 1975, Milton Friedman would say, every three years, that the Swedish social democratic model was going to collapse in the next three years.* Critics: Progressives—Biden is a tool of the neoliberals, and secretly Robert Rubin in disguise. People like David Dayen. They seem to be going through the motions—half-heartedly making their arguments to try to shift the Overton Window, but knowing deep down that Biden is about as good as they are going to get* Critics: Ezra Klein and the other supply-side progressives, worried that Bidenomics in danger of supporting too much procedural obstacles through “community engagement” and “consensus building”, and will wind up pissing its money away without boosting America's productive capacity.* Critics: The Economist magazine and some of the people at the Financial Times, writing about how the Biden administration's policies are “mismanaging the China relationship” and raising “troubling questions”—that decoupling will never work, that Chinese manufactured products are too good and too cheap to pass up; that you can't correct for for externalities; & c.* Critics: Macro policy was unwise, inflationary, and pissed away on income support resources that ought to have been used to boost industrial development. But Biden may skate through because he was undeservedly lucky.* The real critique: Implementation—the U.S. government does not have the state capacity to pick or subsidize “winners” in the sense of companies whose activities have large positive externalities.* To deal with (6), supporters of Bidenomics need to (a) figure out what the limits of U.S. state capacity are, and (b) shape CHIPS and IRA spending to stay within them; meanwhile, critics need to (c) come up with evidence of overreach on attempts to use state capacity to do things.* What is valid in the criticisms of Bidenomics is part of a more general critique—that we have a society in which there are limited sources of social power, namely, primarily money, secondarily a somewhat threadbare rule of law, tertiarily a somewhat shredded state administrative staff. We need other sources of social power—like unions, civic organizations, and so forth that aren't just politicians and NGOs that use direct-to-donor advertising to terrorize and guilt-trip their funders, and that take government money and use it to do nothing constructive at all.* Friendshoring rather than onshoring.* Japan is potentially an enormous productive asset for the U.S. to draw on.* And, of course: Hexapodia!References:* Libby Cantrill & al.: CHIPS & Science Act ‘The Closest We've Had to Industrial Policy' in Decades…* Economist: The lessons from America's astonishing economic record: ‘The more that Americans think their economy is a problem in need of fixing, the more likely their politicians are to mess up…. Subsidies… risk dulling market incentives to innovate… [and] will also entrench wasteful and distorting lobbying …* Economist: The world is in the grip of a manufacturing delusion: ‘How to waste trillions of dollars…. Governments… view… factories as a cure for the ills of the age—including climate change, the loss of middle-class jobs, geopolitical strife and weak economic growth—with an enthusiasm and munificence surpassing anything seen in decades…* Henry Farrell: Industrial policy and the new knowledge problem: ‘Modern industrial policy… [requires] investment and innovation decisions [that] involve tradeoffs that market actors are poorly equipped to resolve…. [Yet] we lack the kinds of expertise that we need…. This lack of knowledge is in large part a perverse by-product of the success of Chicago economists' rhetoric…. Elite US policy schools… have by and large converged on a framework derived from a watered down version of neoclassical economics…. New skills, including but not limited to network science, material science and engineering, and use of machine learning would be one useful contribution towards solving the new knowledge problem…* Rana Foroohar: New rules for business in a post-neoliberal world: ‘“Reimagining the Economy”… by economists Dani Rodrik and Gordon Hanson…. The Roosevelt Institute… progressive politicos (many from within the administration) gathered to discuss the details of America's industrial policy… the opposite of trickle-down…* Andy Haldane: The global industrial arms race is just what we need: ‘Manufacturing is undergoing a revival around the world…. An arms race to invest in decarbonising technologies is in fact exactly what the world needs to tackle two global externalities—the climate crisis and the investment drought…* Greg Ip: This Part of Bidenomics Needs More Economics: Massive sums are being spent on industrial policy with little guidance from economic theory or research…* Réka Juhász & al.: The Who, What, When, and How of Industrial Policy: A Text-Based Approach: ‘We create an automated classification algorithm and categorize policies from a global database…* Ezra Klein & Robinson Meyer: Biden's Anti-Global Warming Industrial Policy After One Year…* Anne O. Krueger: Why Is America Undercutting Japan?: ‘United States… wasteful, inefficient industrial policies…. The Inflation Reduction Act (IRA) and the CHIPS and Science Act… directly threaten the Japanese economy (and many other US “friends”)…* Paul Krugman: ‘I guess I shouldn't be surprised that there's pushback against the observation of a Biden manufacturing boom…. The usual suspects claimed that a green energy transition would require huge economic sacrifice. Seeing this much investment in response to subsidies that are still only a fraction of 1% of GDP suggests otherwise…* Nathaniel Lane & Rék Juhász: Economics Must Catch Up on Industrial Policy: ‘Industrial policy… is back in a big way…. Governments are trying to improve the performance of key business sectors. Can they manage to do so without subverting competition and subsidizing special interests?…* Dani Rodrik: An Industrial Policy for Good Jobs: ‘A modern approach to industrial policy must… target “good-jobs externalities,” in addition to the traditional learning, technological, and national security considerations…* Noah Smith: ‘David Dayen and Marshall Steinbaum completely misrepresented Ezra Klein's "supply-side liberal" position. This is not good faith debate at all…* Noah Smith: ‘Oh, and notice that this framing [from David Dayen]—“The claim made here is that the dumb U.S. workforce fell behind, and now TSMC has to make up for it with Taiwanese workers…”—treats job skills as a test of inborn IQ, rather than something that has to be learned and taught. Wild…* Noah Smith: ‘Neoliberalism: a thread…. Markets as the fundamental generators of prosperity, and government as the way to distribute that prosperity more equitably…. Government can't shoulder the entire burden…. We need additional, quasi-independent institutions, like unions…. Industrial policy is underrated, both at the national and the local level. Neoliberalism under-emphasizes science policy, for example. I want a Big Push for science-driven growth…. Can the government "pick winners"? Yes. The government *must* pick winners. Green energy and other zero-carbon technologies being chief among the things we must pick…* Michael Spence: In Defense of Industrial Policy: ‘The real question is not whether industrial policy is worth pursuing, but how to do it well…+, of course:* Vernor Vinge: A Fire Upon the Deep  Get full access to Brad DeLong's Grasping Reality at braddelong.substack.com/subscribe

Robert E. Rubin, Former U.S. Treasury Secretary and Co-Chairman of Goldman Sachs, and author of the recently published book The Yellow Pad: Making Better Decisions in an Uncertain World, joined Economic Club Chairman David Rubenstein, for a lively discussion on life and leadership.

Joining us is Robert Rubin, no not the guy who was secretary of the Treasury under Bill Clinton, although people do get them confused.  This Robert Rubin built one of the world's only Modernist golf clubhouses and will be transforming that golf course into a Modernist enclave. He also saved and restored a Pierre Chareau house in Paris, the famous Maison de Verre. Later, great jazz with musical guest Libby York.

Esperanza and Irwin pick up in the late 1950's heyday of The Bridge. Can-Am races, The Vanderbilt Cup, Nascar races all were happening in this era, with the world's greatest auto racers. But unfortunately, economic challenges, Southampton Town rezoning, development pressures and changing demographics created problems for The Bridge. An unlikely alliance between The Bridge and environmental groups, particularly The Group for the South Fork (now East End) occurred. The Bridge was championed by Newsday, and found a guardian angel in Robert Rubin. But none of that was enough to save The Bridge. We're excited to bring this compelling story to what is for us, a heartbreaking conclusion.

Produced by KSQD 90.7FM “Be Bold America!” Sunday, August 14, 2022 at 5:00pm (PDT) “You've got to be careful if you don't know where you're going ‘cause you might not get there.” – Yogi Berra For over 50 years Common Cause has served as a vehicle to strengthen public participation and ensure public officials and public institution are accountable and responsive to all citizens … like you! A vibrant democracy demands strong public participation and accountability for those with position power. Common Cause fights for access to the ballot box and voting rights, fights manipulated gerrymandering and fights for fair district representation, fights for judicial and legislative ethics and accountability (including ALEC!), fights against the influence of money in politics, fights for freedom of the press, advocates for fixing the filibuster, and fights against the right-wing plan to rewrite the US Constitution. What are they doing in bring California into the 21st Century? They are fighting to increase voting accessibility for all populations, increase voting language accessibility, to hold contractor donations accountable with City Councils and School Boards. In addition, with this upcoming midterm election being the first election after the adoption of California's Fair Maps Act, they will analyze the results for recommending improvements to the California State Legislature. Interview Guest: Pedro Hernandez, J.D. is the Legal and Policy Director for California Common Cause where he helps lead the organization's statewide policy and legislative work. He currently serves on the state's Language Accessibility Advisory Committee and is Vice-Chair of the Berkeley City Fair Campaign Practices Commission. Before joining California Common Cause, Pedro was Senior Policy Coordinator for FairVote, where he developed an education plan and helped implement a proportional representation system as part of the settlement in United States v. Eastpointe. Through his local advocacy work, he helped strengthen San Francisco's public finance system, and has conducted several voter educational campaigns. He previously worked as an Associate at the Law Office of Robert Rubin where he specialized in claims under the California Voting Rights Act. Pedro earned his J.D. from the University of California, Hastings College of the Law, where he was Editor-in-Chief of the Hastings Race & Poverty Law Journal.

Last Sunday night, as cryptocurrency prices plummeted, Celsius Network — an experimental cryptocurrency bank with more than one million customers that has emerged as a leader in the murky world of decentralized finance, or DeFi — announced it was freezing withdrawals “due to extreme market conditions.”Earlier this week, Bitcoin dropped 15 percent over 24 hours to its lowest value since December 2020, and Ether, the second-most valuable cryptocurrency, fell about 16 percent. Last month, TerraUSD, a stablecoin — a system that was supposed to perform a lot like a conventional bank account but was backed only by a cryptocurrency called Luna — collapsed, losing 97 percent of its value in just 24 hours, apparently destroying some investors' life savings. The implosion helped trigger a crypto meltdown that erased $300 billion in value across the market. These crypto crashes have fueled worries that the complex and murky crypto banking and lending projects known as DeFi are on the brink of ruin.Eighty nine years ago today the Banking Act of 1933 — also known as the Glass-Steagall Act — was signed into law by Franklin D. Roosevelt. It separated commercial banking from investment banking — Main Street from Wall Street — in order to protect people who entrusted their savings to commercial banks from having their money gambled away. Glass-Steagall's larger purpose was to put an end to the giant Ponzi scheme that had overtaken the American economy in the 1920s and led to the Great Crash of 1929. Americans had been getting rich by speculating on shares of stock and various sorts of exotica (roughly analogous to crypto) as other investors followed them into these risky assets — pushing their values ever upwards. But at some point Ponzi schemes topple of their own weight. When the toppling occurred in 1929, it plunged the nation and the world into a Great Depression. The Glass-Steagall Act was a means of restoring stability.It takes a full generation to forget a financial trauma and allow forces that caused it to repeat their havoc. By the mid-1980s, as the stock market soared, speculators noticed they could make lots more money if they could gamble with other people's money, as speculators did in the 1920s. They pushed Congress to deregulate Wall Street, arguing that the United States financial sector would otherwise lose its competitive standing relative to other financial centers around the world. In 1999, after Sandy Weill's Travelers Insurance Company merged with with Citicorp, and Weill personally lobbied Clinton (and Clinton's Treasury secretary Robert Rubin), Clinton and Congress agreed to ditch what remained of Glass-Steagall. Supporters hailed the move as a long-overdue demise of a Depression-era relic. Critics (including yours truly) predicted it would release a monster. The critics were proven correct. With Glass-Steagall's repeal, the American economy once again became a betting parlor. (Not incidentally, shortly after Glass-Steagall was repealed, Sandy Weill recruited Robert Rubin to be chair of Citigroup's executive committee and, briefly, chair of its board of directors.) Inevitably, Wall Street suffered another near-death experience from excessive gambling. Its Ponzi schemes began toppling in 2008, just as they had in 1929. The difference was that the U.S. government bailed out the biggest banks and financial institutions, with the result that the Great Recession of 2008-09 wasn't nearly as bad as the Great Depression of the 1930s. Still, millions of Americans lost their jobs, their savings, and their homes (and not a single banking executive went to jail). In the wake of the 2008 financial crisis, a new but watered-down version of Glass-Steagall was enacted — the Dodd-Frank Act — which has been further diluted and defanged by Wall Street lobbyists.Which brings us — 89 years to the day after Glass-Steagall was enacted — to the crypto crash. The current chair of the Securities and Exchange Commission, Gary Gensler, has described cryptocurrency investments as “rife with fraud, scams, and abuse.” Yet in the murky world of crypto DeFi, it's hard to understand who provides money for loans, where the money flows, or how easy it is to trigger currency meltdowns. There are no standards for issues of custody, risk management, or capital reserves. There are no transparency requirements. Investors often don't know how their money is being handled or who the counter-parties are. Deposits are not insured. We're back to the Wild West finances of the 1920s. In the past, cryptocurrencies kept rising by attracting an ever-growing range of investors and some big Wall Street money, along with celebrity endorsements. But, as I said, all Ponzi schemes topple eventually. And it looks like crypto is now toppling. So why isn't this market regulated? Mainly because of intensive lobbying by the crypto industry, whose kingpins want the Ponzi scheme to continue. The industry is pouring huge money into political campaigns. And it has hired scores of former government officials and regulators to lobby on its behalf — including three former chairs of the Securities and Exchange Commission, three former chairs of the Commodity Futures Trading Commission, three former U.S. senators, and at least one former White House chief of staff, the former chair of the Federal Deposit Insurance Corporation, and more than 200 former staffers of federal agencies, congressional offices and national political campaigns who have worked in crypto. Former Treasury Secretary Lawrence Summers advises crypto investment firm Digital Currency Group Inc. and sits on the board of Block Inc., a financial-technology firm that is investing in cryptocurrency-payments systems.In a famous passage from his 1955 book The Great Crash 1929, my mentor, Harvard professor John Kenneth Galbraith, introduced the term “bezzle” (derived from embezzlement). Galbraith observed that the bezzle in a financial system grows whenever people are confident about the economy, and reveals itself when confidence ebbs: At any given time there exists an inventory of undiscovered embezzlement which … varies in size with the business cycle. In good times, people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances, the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression, all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks.Crypto is pure bezzle — as is now being revealed. If we should have learned anything from the crashes of 1929 and 2008, it's that regulation of financial markets is essential. Otherwise they turn into Ponzi schemes filled with bezzle — leaving small investors with nothing and endangering the entire economy. It's time for the Biden administration and Congress to stop the crypto bezzle. What do you think? This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

My friends, I'm going to press the pause button on today's news — including the House January 6 hearings that start this evening — and try to answer a big question that hangs over American politics right now like a sword of Damocles: Does Joe Biden have a snowball's chance of being re-elected in 2024? With his current approval rate in the cellar, most pundits assume no (at age 81, he'd also be the oldest person ever elected president, slightly exceeding the typical American's lifespan). The conventional thinking goes that if he gets the Democratic nomination for 2024 (a big if), Biden will be demolished by Trump (or a Trump surrogate like Florida governor Ron DeSantis) — putting America at the mercy of an even crazier authoritarian than Trump version 1.0.That's way too simplistic. Biden's approval rating is now at around 40 per cent. Ronald Reagan was polling at about the same at this point in his presidency when he was grappling with inflation and the inevitable buyer's remorse that voters feel a year and a half into a presidency. Two and a half years later, Reagan won 49 states in his re-election bid against Walter Mondale. (Reagan was then 73, just short of the typical American's lifespan at the time.)As for Trump, his popularity has plummeted since the 2020 election – a casualty not just of most Americans' outrage at his big lie that the 2020 election was stolen from him and his role in the January 6th insurrection, but also of the poor showing (and terrifying characteristics) of many of his endorsees in recent Republican primaries The televised hearings by Congress's select committee investigating the January 6 insurrection are unlikely to improve Trump's standing with most voters.Besides, much can happen between now and the next presidential election to alter the odds – not the least, the composition of Congress after the midterm elections, the outcome of the war in Ukraine, and the economy.It's true that many Democratic voters are unhappy with Biden — especially many of the young voters who surged into the 2020 election. They had expected Biden to pass more ambitious legislation on a range of issues -- slowing climate change, subsidizing childcare and eldercare, lowering the prices of prescription drugs, expanding healthcare, and raising taxes on the rich to pay for all this.  In some ways, Biden has had the worst of both worlds: The 2020 elections that gave Democrats control over both houses of Congress raised expectations that Biden's proposals would be enacted, but senate Republicans torpedoed almost all of them (apart from benefits to tide people over during the second COVID wave and a deal on infrastructure). Biden also has had to cope with two Democratic senators – West Virginia's Joe Manchin and Arizona's Krysten Sinema -- who vote like Republicans. Even if Manchin and Sinema were willing to support Biden's proposals, they won't join other senate Democrats in eliminating the filibuster. That means, under current Senate rules, at least 10 Republicans would have to agree with all fifty Democrats to limit debate and move to a vote – a nearly insurmountable obstacle.An even more basic problem for Biden is that the Democratic Party he knew when he was elected to the Senate fifty years ago from blue-collar Delaware is not the Democratic Party that elected him in 2020. It's now largely composed of young adults, college-educated voters, and people of color. In the intervening years, many working-class white voters who were once loyal Democrats joined the Republican Party. As their wages stagnated and their jobs grew insecure, the Republican Party channeled their economic frustrations into animus toward immigrants, global trade, Black people and Latinos, LGBTQ people, and “coastal elites” who want to control guns and permit abortions.These so-called “culture wars” have served to distract such voters from the brute fact that the Republican Party has zero ideas to reverse the economic trends that left the working class behind. The culture wars have also distracted attention from the near-record shares of national income and wealth that have shifted to the top. As well as from the Republican's role in pushing even more to the top through tax cuts and subsidies, attacks on labor unions, and refusals to support social benefits that have become standard in most other advanced nations (such as paid sick and family leave, universal healthcare, and generous unemployment insurance).During his 36 years in the Senate, followed by eight as Obama's vice president, I'm sure Biden became aware of the loss of these working-class voters. And he must have known of the Democrat's failure to regain their loyalty.The Obama administration expanded public health insurance, to be sure. But Democratic administrations also embraced global trade and financial deregulation, took a hands-off approach to corporate mergers and growing industrial concentration, bailed out Wall Street, and gave corporations free rein to bash labor unions (reducing the unionized portion of the private-sector workforce during the last half century from a third to 6 percent).It was a huge error – politically, economically, and, one might even say, morally.What accounted for this error? I saw it up close: the Democratic Party's growing dependence on campaign money from big corporations, Wall Street, and wealthy Americans – whose “donations” (bribes) to both parties soared.   Clinton styled himself a “new Democrat” who would govern from above the old political divides -- “triangulate,” in the parlance of his pollster, Dick Morris. In practice, Clinton auctioned off the White House's Lincoln Bedroom to the highest bidders, made Wall Street's Robert Rubin his chief economic adviser, advocated and signed the North American Free Trade Act, opened the US to Chinese exports, and cleared the way for Wall Street to gamble.Obama brought into his administration even more Wall Street alumni and made Larry Summers his chief economic advisor. Obama promptly bailed out the Street when its gambling threatened the entire economy but asked nothing of the banks in return. Millions of Americans lost their homes, jobs, and savings, yet not a single top Wall Street official went to jail.Small wonder that by 2016, two political outsiders gave dramatic expression to the populist bitterness that had been growing – Bernie Sanders on the left and Donald Trump on the right. At the time, they even spoke the same language – complaining of a “rigged system” and a corrupt political establishment, and promising fundamental change.Joe Biden saw all this unfold. He came to publicly regret his vote to ease banking rules. He never celebrated the virtue of free markets. He has been far closer to organized labor and more comfortable with non-college working-class voters than either Bill Clinton or Barack Obama. “I am a union man, period,” he has repeatedly said. He's no free trader, either. Biden proposed relocating supply chains for pharmaceuticals, semiconductors, and medical supplies in the United States, and imposing tax penalties on companies that relocate jobs abroad and credits for those that bring them home. He has kept in place most of the trade restrictions that Trump placed on China.During the 2020 presidential campaign Biden was billed as a “centrist” seeking bipartisan solutions. But he had big, non-centrist ambitions. Seeking to be a “transformative” president, he openly sought a New Deal-style presidency. Once in office, he proposed the largest social agenda in recent American history. That Biden failed to get most of this agenda passed in his first term was due less to his own inadequacies than to the Democrat's razor-thin congressional majorities, the aforementioned Manchin and Sinema, and the Party's own compromised position vis-à-vis the power structure of America.But Biden's and the Democrat's deepest challenge was, and continues to be, voter's distrust of the system.  All political and economic systems depend fundamentally on people's trust that its processes are free from bias and its outcomes are fair.Trump's big lie that the 2020 election was stolen from him has contributed to the distrust but is not responsible for it. Only about a third of Americans believe him.  The real source of distrust is the same force that ushered Trump into the White House in 2016: four decades of near stagnant wages, widening inequality, a shrinking middle class, ever more concentrated wealth at the top, and growing corruption in the form of campaign cash from the wealthy and corporations.If Democrats retain control of Congress in the upcoming midterm elections (possible but unlikely, given the usual pattern in which the party in control loses it) Biden could still become a transformative president in the last two years of his first term if he focuses like a laser on reversing these trends.Even if Democrats do not hold onto Congress, Biden could be a moral voice for why the system must be transformed. It's his best hope for being reelected in 2024.What do you think? This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

Tom welcomes Brian Hirschman back to the show. Brian is Managing Partner of Hirschmann Partnership which is occasionally referred to as the "World's Most Bearish Hedge Fund." Brian expects inflation to persist for longer than most investors expect due to massive government debt. Inevitably, the U.S. government will default which will send miners and gold far higher. We could expect some benefits from labor and supply chains improving but inflation has many causes. At some point, government debt will matter, and much higher inflation will result. Investors shouldn't be too concerned about interest rates as the bigger driver of gold will be risks of default and inflation. Markets are different today due to the enormous size of the global asset bubbles. Gold will move higher when investors realize that inflation will be here to stay. Crypto remains a much smaller asset class than gold and therefore the impact of crypto is likely not that significant. Many crypto investors are more speculative and most aren't that interested in metals. Gold is the ultimate low-risk asset whereas cryptocurrencies remain risky speculative assets. Over the long term, the gold price will drive the mining equities much higher and we're starting to see this occurring. Gold miners should go up much higher than the returns on gold when the bubbles start to burst. All governments have too much debt and are trying to keep rates low thru regulations. Banks now own four trillion in debt securities issued by the Fed. Should foreign debt holders realize the risks then they will start selling their treasuries. This could easily trigger a crisis since we can't control other countries with regulations. Marginally higher interest rates today will likely not have much impact on inflation but could impact default risks. Brian compares the status of the U.S. with that of the last European debt crisis. China's real estate bubble is even worse than that of the United States. When it pops we will see severe impacts on global markets. Time Stamp References:0:00 - Introduction0:33 - Inflation Continues4:06 - Gold, Inflation & Rates7:15 - Crypto Impacts9:56 - Mining Stocks11:40 - Rates & Regulations15:09 - Fed Trapped?18:04 - Rates Vs. Inflation19:00 - Yield Curve Control20:58 - Demographics & Savings23:59 - China Bubbles26:57 - Wrap Up Talking Points From This Episode Continued inflation expectations and risks of government debt default.Global asset bubbles, interest rates, and investor risk.The outlook for gold and the miners. Guest Links:Twitter: https://twitter.com/HCapitalLLCWebsite: https://www.hcapital.llc Brian Hirschmann, CFA, is the Managing Partner at Hirschmann Partnership (HP) launched in 2014. Since its inception, HP has outperformed its benchmarks by a substantial margin despite being the "World's Most Bearish Hedge Fund," according to ValueWalk. Previously he was an associate at Goldman Sachs Principal Strategies (GSPS), a multi-billion dollar hedge fund whose alumni include Robert Rubin, Tom Steyer, Daniel Och, and Eddie Lampert. After GSPS, Brian returned to Los Angeles to join Hotchkis and Wiley Capital Management where he was an equity-owner and made over $1 billion in long-term investments. Brian graduated with distinction from Yale, where Professor Robert Shiller strongly influenced his investment philosophy. Robert is one of the few to predict both the dot-com and housing bubbles. Robert was also influenced by Professor David Swensen, Yale's legendary endowment manager.

Wall Street may be having a bad week, but top bankers are doing wonderfully well. After a blockbuster year, the five biggest Wall Street banks just paid out $142 billion in bonuses and compensation for 2021. This was $18 billion more than in 2020. JPMorgan Chase reported record profits, and Citigroup's annual profit more than doubled. Let me remind you (as if you need reminding) that 2020 and 2021 were not exactly blockbuster years for the rest of America. In the first three decades after World War II, American companies made money by making things, selling them at a profit, and investing the profits in additional productive capacity. This helped create the largest middle class the world had ever seen. In those years, the financial sector accounted for 15 percent of U.S. corporate profits.Then something happened. By the mid-1980s, the financial sector claimed 30 percent of corporate profits. By 2001, 40 percent — more than four times the profits made in all U.S. manufacturing. Why this dramatic change? Indulge me a moment as I quote from a New York Times op-ed I wrote more than forty years ago (May 23, 1980):The paper entrepreneurs are winning out over the product entrepreneurs.Paper entrepreneurs – trained in law, finance, accountancy – manipulate complex systems of rules and numbers. They innovate by using the systems in novel ways: establishing joint ventures, consortiums, holding companies, mutual funds; finding companies to acquire, “white knights” to be acquired by, commodity futures to invest in, tax shelters to hide in; engaging in proxy fights, tender offers, antitrust suits, stock splits, spinoffs, divestitures; buying and selling notes, bonds, convertible debentures, sinking-fund debentures; obtaining government subsidies, loan guarantees, tax breaks, contracts, licenses, quotas, price supports, bailouts; going private, going public, going bankrupt.Product entrepreneurs – engineers, inventors, production managers, marketers, owners of small businesses – produce goods and services people want. They innovate by creating better products at less cost.Our economic system needs both. Paper entrepreneurs ensure that capital is allocated efficiently among product entrepreneurs. But paper entrepreneurs do not directly enlarge the economic pie. They only arrange and divide the slices. They provide nothing of tangible use. For an economy to maintain its health, entrepreneurial rewards should flow primarily to product, not paper.Yet paper entrepreneurialism is on the rise. It dominates the leadership of our largest corporations. It guides government departments, legislatures, agencies, public utilities. It stimulates platoons of lawyers and financiers.It preoccupies some of our best minds, attracts some of our most talented graduates, embodies some of our most creative and original thinking, spurs some of our most energetic wheeling and dealing. Paper entrepreneurialism also promises the best financial rewards, the highest social status.The ratio of paper entrepreneurialism to product entrepreneurialism in our economy – measured by total earnings flowing to each, or by the amount of news in business journals and newspapers typically devoted to each – is about 2 to 1.Why? Our economic system has become so complex and interdependent that capital must be allocated according to symbols of productivity rather than according to productivity itself. These symbolic rules and numbers lend themselves to profitable manipulation far more readily than do the underlying processes of production.It takes time and effort to improve product quality, exploit manufacturing efficiencies, develop distribution and sales networks. But through strategic use of accounting conventions, tax rules, stock and commodity exchanges, exchange rates, government largesse, and litigation, enormous profits are possible with relatively little effort.When paper entrepreneurs look for solutions to America's declining productivity and international competitiveness, they come up with paper remedies to stimulate large-scale capital investment: accelerated depreciation, tax credits, government subsidies, relaxation of antitrust laws. Product entrepreneurs focus on techniques for improving output: better quality controls, improved labor-management relations, more effective incentives for managers and employees, more aggressive marketing and sales.If we are to increase the economic pie, we will need to redress the balance of entrepreneurial effort. Which strategies will stimulate more paper, and which more product?  I wish I had not been as prescient. Yet the dominance of finance over much of the American economy since 1980 didn't happen by accident. It needed the help of politicians — including presidents (both Republican and Democrat) — who changed laws and regulations to encourage it. Ronald Reagan's Securities and Exchange Commission allowed corporate raiders to use borrowed money to buy and dismantle American companies. The raiders (now more politely called “private-equity” managers) sold off divisions, squeezed costs, and fired workers—all to maximize “shareholder value.” The result may have been “efficient” in the narrowest sense of the term but it was socially disastrous. Manufacturing employment plummeted. Unions died. Great swaths of the Midwest and South were abandoned. Men without high school degrees suffered knockout blows. The typical wage — which had been rising steadily since the end of World War II, in tandem with the increasing productivity of the nation — began to stagnate (adjusted for inflation). For men without college degrees, real wages started a long decline. It wasn't just Reagan. Bill Clinton (with the advice of Robert Rubin and Lawrence Summers) opened the door to more financial speculation by refusing to regulate highly-leveraged derivatives (the opaque, highly profitable instruments of financial speculation that Warren Buffet called “financial weapons of mass destruction”) and by supporting Republican efforts in Congress to repeal the Glass-Steagall Act (the Depression-era law that required the separation of commercial and investment banking) and allow the creation of megabanks. When the financial bubble inevitably burst, Barack Obama endorsed the Bush administration's Wall Street bailout and appointed many of the same team of Clinton-era economic advisors who, while working under Rubin in the 1990s, had laid the groundwork for the financial crisis by encouraging speculation. Obama did what they then recommended: restore the profitability of Wall Street banks rather than reduce the power of finance and help millions of Americans who lost their homes. The bailout of Wall Street came without strings. The Obama administration did not fire any Wall Street CEOs. It did not rein in their egregious pay. It did not prevent the big banks from buying back their stock or handing out generous dividend payments to their stockholders. It imposed no losses on the banks' shareholders and creditors. It did not insist that banks stop their lobbying to obstruct reform the financial industry. Instead, Obama (and his economic advisors, headed by Laurence Summers) shifted the costs of Wall Street's speculative binge onto ordinary Americans -- deepening public mistrust of a political system increasingly seen as rigged in favor of the rich and powerful.A direct line runs from public anger over the bailout of Wall Street to the Occupy movement and the candidacy of Bernie Sanders, on the left; and to the Tea Party movement and the election of Donald Trump, on the right. I saw it and heard it in early 2016 in Michigan, Wisconsin, North Carolina, Ohio, and Iowa where I conducted focus groups: Whenever I mentioned the establishment presidential candidates Jeb Bush or Hillary Clinton, people told me they didn't stand a chance. Instead, the people I interviewed were excited by Bernie Sanders or Donald Trump. (A remarkable number said they supported both.) Again and again, I heard references to the bailout of Wall Street as proof that the economy was “rigged” against ordinary Americans, and that America needed a president who would champion average working people. As Americans went to the polls later that year, 75 per cent said they were looking for a leader who would “take the country back from the rich and powerful.” They obviously didn't get one. Trump masqueraded as a tribune of the working class but was a Trojan horse for the rich and powerful. We are still living with the political and social consequences of America's turn to financial entrepreneurship. The five biggest Wall Street banks could not have scored record profits these past two years were they not back to many of the same practices that caused them to implode in 2008 and the rest of America to pay the price. Inequalities of income and wealth are far wider now than they were when Wall Street's bubble burst. I suspect even more Americans today feel the system is rigged by the rich and powerful than they did a few years ago. It doesn't have to remain this way. We are not prisoners of bad decisions made in the past. We can and should rein in Wall Street, break up its five giant “too-big-to-fail” banks, support local and state banks, resurrect the Glass-Steagall Act's divide between investment and commercial banking, tax all financial transactions — and rebuild jobs and wages on the product side of the American economy. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

Tom welcomes Brian Hirschman, Managing Partner of Hirschmann Partnership, also also considered by ValueWalk to be the "World's Most Bearish Hedge Fund." Brian discusses how all the bubbles have only grown in recent months, but their gold investments continue to perform very well. Brian discusses how the US has crossed the 130% GDP to Debt level and last year, and they reviewed past outcomes of countries at these debt levels. The conclusion from the study was that default would be all but inevitable. Warren Buffet said recently, "If governments could always borrow at negative interest rates, it would have been discovered 2000 years ago." People today have too much faith in the government's ability to borrow. He explains how equities are overvalued when measured by CAPE metrics. Today we are at levels twice the norm, which means that a pullback of 60% would be required to return to normal. Bond markets are also likely to burst, which would likely mean a drop of 80%. We seem to have another housing bubble, along with the price to rent and price to income levels, all being back nearly at 2006 levels. China produced and used in one month more cement than the US utilizes in a year. If China bursts, it would almost certainly cripple global growth. The next crisis could easily be the worst crisis since the great depression. At this point, nearly anything could trigger such an event. Brian remains a gold bull and believes any crisis should be a significant windfall for investors with mining equities. Since the market cap of gold equities is relatively small, he expects a lot of new capital could come flooding in looking for a new home. He discusses how they measure and compare the value of mining equities. He argues that physical gold's nominal returns are going to underperform most other investments. This is why funds like Berkshire Hathaway chose to invest in Barrick Gold rather than physical metal. He explains how they adjust and rebalance their portfolio depending on expected future returns and why this is important for mining equities. Lastly, he touches on two markets that he feels are in bubbles, bitcoin, and global housing markets. Time Stamp References:0:00 - Intro0:37 - Bonds & Collapse8:33 - Yield Curve Control11:49 - Gold Expectations13:50 - Foreign Investment14:32 - Silver Investing?15:29 - Gold Value Investing16:25 - Valuing Equities18:10 - Physical Gold Investing23:23 - Factoring Risk27:47 - Portfolio Rebalancing30:17 - Gold and Oil32:34 - Bitcoin & Bubbles37:23 - Global Real Estate38:38 - CPI & Inflation39:52 - Wrap Up Talking Points From This Episode Debt, GDP, interest rates, and collapse.Measuring equity valuations.China's bubbles and risk to global markets.Physical metal vs. Mining Equities Guest Links:Twitter: https://twitter.com/HCapitalLLCWebsite: https://www.hcapital.llcHirschmann Capital Letter (pdf): https://tinyurl.com/6eccw962 Brian Hirschmann, CFA, is the Managing Partner at Hirschmann Partnership (HP) launched in 2014. Since its inception, HP has outperformed its benchmarks by a substantial margin despite being the "World's Most Bearish Hedge Fund," according to ValueWalk. Previously he was an associate at Goldman Sachs Principal Strategies (GSPS), a multi-billion dollar hedge fund whose alumni include Robert Rubin, Tom Steyer, Daniel Och, and Eddie Lampert. After GSPS, Brian returned to Los Angeles to join Hotchkis and Wiley Capital Management and where he was an equity-owner and made over $1 billion in long-term investments. Brian graduated with distinction from Yale, where Professor Robert Shiller strongly influenced his investment philosophy. Robert is one of the few to predict both the dot-com and housing bubbles. Robert was also influenced by Professor David Swensen, Yale's legendary endowment manager.

Steve, Eric and Patrick are joined by William K. Black who reveals the curious case of Richard Bowen, former Citigroup VP and whistleblower, who blew the cover off the motherlode of fraudulent mortgages being sold through Citi. Bowen and Black engage in a trial examination-style conversation about why and to whom he reported Citi's malfeasance, how the regulators teased him with their interest and despite the weight of his revelations, did nothing about it. Bowen also reveals why Robert Rubin deserves a special place in the history of financial crime.

It is impossible to really understand the housing crisis that lead to the Great Recession without understanding the three phases of the crisis: the setup, the execution, and the coverup. Most people miss the big picture about what happened, because they fail to see these three phases as one grand conspiracy. When one does consider these three phases together you quickly realize that what happened was less of a crises and more of an elaborate crime. The architecture and building of the structure that eventually collapsed happened in the 1990's when Bill Clinton was president. This was the setup. The architects that built the structure were Chairman of the Federal Reserve, Alan Greenspand, and Clinton's Secretary of the Treasury, Robert Rubin; along with their two henchmen, Lawrence (Larry) Summers and Timothy Geithner. If the setup could be explained in one word, that word would be 'deregulation'. The plan involved unchaining Wall Street and knocking down walls that had been in place since the 1930's. Many of these regulations had been put in place in response to the Great Depression to prevent another crash. How was the housing bubble created to pop, and how did massive deregulation under Bill Clinton setup the next phase of the crash under George Bush? Join the conversation and get answers to these questions and more on According2Sam episode #79.

From 2004 - Robert Rubin, who served as Secretary of the Treasury during the Clinton administration, discusses his book "In an Uncertain World: Tough Choices from Wall Street to Washington."

Class Clown kicks off a series of Halloween-themed episodes by speaking with ghost hunter-turned-Tarot expert Robert Rubin and faith healer Kino Valencia. He asks them how they got started in this industry, as well as dives deep into exorcisms, hauntings, possessions, spells, and witchcraft. Also on this episode is Israel Buenaobra who, being from Baguio, is qualified to be on a horror episode.

Tom welcomes Brian Hirschman, Managing Partner of Hirschmann Partnership. They are known as the "World's Most Bearish Hedge Fund." Brian says there is some truth to that statement because they are bearish on many sectors. Brian is concerned about US government debt levels as they will soon reach 144%. Those levels are hazardous as almost all countries tend to default around 130%. The only modern example of a country that hasn't defaulted is present-day Japan, but even then, it's only a matter of time. Today, both bonds and stocks are ignoring the risks of default. He discusses how the Fed conducts it's bond purchases and why they are "the world's greatest hedge fund." If the US government has a debt crisis, he believes that could lead to hyperinflation. Not only is the United States having massive debt problems, but so are most countries around the world, including other central banks. On top of all that, China has significant imbalances, overcapacity, and mal-investment. We could have a situation where a crisis spreads from country to country and region to region simultaneously. This period could make the first half of 2020 look uneventful. He compares the global economic policy of suppressing financial crises to putting out small fires whenever they occur in a forest. Eventually, fuel (debt) builds up, and the fires become uncontrollable. Keep in mind the next debt crisis could occur at a government level, and then they won't be able to bail out the banks and private sector. Instead, you might see austerity measures. He believes the next inflation crisis will be worse than the 1970s. He discusses how high gold could go in a crisis and the best ways for investors to protect themselves. Brian talks about the advantages of smaller mining companies in terms of valuations than those bundled into ETFs. Time Stamp References:0:40 - Why they are called bearish.1:30 - Country Debt to GDP and defaults.5:20 - Fed printing vs. borrowing.10:40 - Treasury yields and bonds.12:00 - Banks, the Fed, and lending standards.13:50 - Pro Fed/Dollar arguments.17:10 - China, debt issuance and systemic risk.22:00 - Government debt reaching a breaking point.25:00 - Gold mining ETF and valuations.27:45 - Determining value with miners.29:10 - Warren Buffett discusses debt risk. Talking Points From This Episode US and Global GDP to Debt LevelsWhy the next debt crisis could be government debt.Risk of a global systemic debt crisis.Gold and miners. Brian Hirschmann, CFA, is the Managing Partner at Hirschmann Partnership (HP) launched in 2014. Since its inception, HP has outperformed its benchmarks by an extremely large margin despite being the "World's Most Bearish Hedge Fund," according to ValueWalk. Previously he was an associate at Goldman Sachs Principal Strategies (GSPS), a multi-billion dollar hedge fund whose alumni include Robert Rubin, Tom Steyer, Daniel Och, and Eddie Lampert. After GSPS, Brian returned to Los Angeles to join Hotchkis and Wiley Capital Management and where he was an equity-owner and made over $1 billion in long-term investments. Brian graduated with distinction from Yale, where his investment philosophy was strongly influenced by Professor Robert Shiller, one of the few to predict both the dot-com and housing bubbles, and by his senior essay advisor, Professor David Swensen, Yale's legendary endowment manager. Guest Links:Twitter: https://twitter.com/HCapitalLLCWebsite: https://www.hcapital.llc

Robert Rubin was the Secretary of the Treasury and Director of the National Economic Council under President Bill Clinton. He had a distinguished career in finance, joining Goldman Sachs in 1966 and eventually becoming co-chairman. Under the Clinton Administration, he served as the  He is also a founder of The Hamilton Project, an economic policy think tank out of the Brookings Institution. Today, he will discuss the economic outlook in the post-COVID world.Secretary Rubin says it might take until the end of 2022 for the US economy to return to where it was pre pandemic. As he notes, this is both a global economic crisis, and a humanitarian and health crisis, which will complicate the recovery. He also agrees with recent comments from former Treasury Secretary Timothy Geithner that the Federal Reserve acted responsibly in their strong response to the COVID pandemic. It was much more far reaching response than the one in the wake of the 2008 financial crisis, but Rubin believes it is necessary.Go to NoLabels.org to learn more about how we are bringing together a bipartisan group of public and private leaders working to solve America’s toughest problems.

In Superforecasting, Tetlock and coauthor Dan Gardner offer a masterwork on prediction, drawing on decades of research and the results of a massive, government-funded forecasting tournament. The Good Judgment Project involves tens of thousands of ordinary people—including a Brooklyn filmmaker, a retired pipe installer, and a former ballroom dancer—who set out to forecast global events. Some of the volunteers have turned out to be astonishingly good. They've beaten other benchmarks, competitors, and prediction markets. They've even beaten the collective judgment of intelligence analysts with access to classified information. They are "superforecasters."In this groundbreaking and accessible book, Tetlock and Gardner show us how we can learn from this elite group. Weaving together stories of forecasting successes (the raid on Osama bin Laden's compound) and failures (the Bay of Pigs) and interviews with a range of high-level decision makers, from David Petraeus to Robert Rubin, they show that good forecasting doesn't require powerful computers or arcane methods. It involves gathering evidence from a variety of sources, thinking probabilistically, working in teams, keeping score, and being willing to admit error and change course. Superforecasting offers the first demonstrably effective way to improve our ability to predict the future—whether in business, finance, politics, international affairs, or daily life—and is destined to become a modern classic. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/pbliving/message Support this podcast: https://anchor.fm/pbliving/support

Episode 43. March 27, 2020 CLP Topic Category: Vichy Republican Collaborators Who Is It In America That Is Responsible For Implementing the Trade Agreements With China? Note to visitors: Our podcast today is the Introduction to a much longer document that explains who it is in America that was responsible for implementing the trade deals with China. The other sections of the longer podcast are: The American Roots of Globalism The Link Between Globalism and American Crony Capitalism Civil Dissolution or Civil War? Irreconcilable Differences You can access this podcast, for free, for one week, at our website. You can subscribe to our entire archive of podcasts and text at our website for $30 per year.   Introduction: Our podcast today examines the argument made by Mike Slater, on the tv program, The First, that China is an enemy of the United States. Slater explains that the most recent Wu Virus is only the latest of three epidemics, in 20 years, unleashed on the world by the militaristic, repressive Communist regime in Beijing. The most charitable interpretation of this behavior by the Communists is that they are wildly incompetent to control the outbreaks of deadly diseases. The more accurate interpretation of the behavior, explained by Slater, is that they are an enemy of the U. S., intent on destroying the fabric of American society. Our podcast today adopts the second interpretation in order to examine what political and financial forces in America were responsible for forming the close ties between the two countries. We agree with the analysis of Curtis Ellis, in his article, China's Post-Virus Plan to Destroy America's Economy, where he states that, “The “respected voices” calling for America to lift the tariffs on China are simply swallowing Beijing's sophisticated propaganda. China means to use this crisis to destroy us…Moreover, Beijing sees an opportunity in the pandemic to reverse President Trump's call to move manufacturing out of China. China's State Administration of Science, Technology, and Industry for National Defense (SASTIND), stated: “China will get more opportunities, including in the reduction of pressure for the international industrial chain to transfer away from China . . . The global epidemic has provided opportunities for improving China's international position and countering anti-globalization.” We argue that, in the late 1980s, the 1500 member companies of the Business Roundtable were effective in perpetrating a fraud that China was just like any other country in terms of global trade. We argue that those same corporate actors continue, today, to coordinate their political strategy with special interest lobbying groups and crony capitalist elected representatives, who obtain personal financial benefits from passing legislation that have continued the re-authorization of the deals with China. The lobbyists for the Business Roundtable and U.S. Chamber of Commerce, wrote the draft legislation, in 1999, in order for the corporations to obtain huge profits from moving production to China, and then selling those cheap goods back to the American market. The main political representatives who voted initially to implement the deals, and then voted to re-authorize the deals, are a coalition of Democrats and Republicans, who obtained vast financial benefits from “tribute” paid by the corporations. The large corporations obtained an 80% cost saving in production of goods in China, and while a small portion of the savings showed up in cheaper goods, the vast majority went to the bottom line profits of the large corporations. Most of the profits earned from overseas production were never taxed in the U. S., and were never repatriated, in the form of capital investments, back into the U. S. domestic economy The U. S. corporate profits were reinvested in China, which empowered the successful Chinese economy, and allowed their national champion industries to become wildly profitable. Elected representatives at the state and Federal level worked together to advocate the public benefits of trade with China. For example, In North Carolina, Governor Hunt hosted an annual event, called the Emerging Issues Forum, to promote global trade. Governor Hunt created the Forum in October 1985 to provide a catalyst for the discussion and action needed to move the United States forward in the world economy. His political mantra was that North Carolina workers must be “competitive” with global workers. The second conference, in February 1987, drew 1,500 people to the McKimmon Center on the NC State University campus and featured speakers that included Jimmy Carter, Bill Clinton, Paul Krugman, Thomas Friedman, Newt Gingrich, Hillary Clinton, Steve Forbes, Robert Rubin, Jay Rockefeller, Amory Lovins, Al Gore, and Paul Volcker. While President Trump has correctly ranted incessantly about the unfair trade deals, he never identifies the political or corporate actors, listed above, who are responsible for allowing the trade deals to be enacted. Citizens need to know who it was in America that engaged in a form of national economic sedition of collaborating with an enemy. The Wu Virus is helping the citizens understand the extent of the danger caused by trade with China, but the virus has not clarified who is responsible for the economic damage. Our podcast goes further to explain who these agents are that promoted the trade fraud with China. We argue that the economic chaos inflicted by the Wu Virus is only the most immediate consequence of trade with China. Less well known is the negative effect on U. S. labor markets that became overly dependent on service jobs. In 2000, prior to the trade deals with China,, about  17,000 American workers were employed the production of goods, primarily in manufacturing firms. In 2000, about 75,000 workers were employed in the service industries. In 2018, only 12,688 workers were employed in manufacturing and 129,000 workers, or 80% of the U. S. labor force, was employed in services. The services economy is commonly called the “gig” economy, that features low paying, unstable jobs, that offer no health benefits. In Governor Hunt's propaganda of the benefits of trade with China, required North Carolina workers to be “competitive” with China meant transferring North Carolina jobs from manufacturing to the gig economy. North Carolina's formerly diversified economy employed about 800,000 workers in manufacturing, before the trade deals. After the trade deals with China, out of a total state workforce of 5 million, about 400,000 workers were employed in manufacturing, and over 1 million were employed in the service sectors. The service industry is made up of restaurant workers and retail shops, and is the most vulnerable to mass layoffs from the Chinese disruption to the S. economy.   After the trade deals were implemented, the U. S. labor market and economy lacked diversification, and its occupational job structure looked just like the third world economies in Latin America and Africa. The relocation of medical supply chains by large global corporations also exposed another hidden consequence of trade with China. When the entire inter-industry manufacturing supply chains moved to China, local towns that relied on manufacturing jobs were devastated. Those local economies became overly dependent on service jobs, and on increased government welfare payments. More importantly, by moving the supply chains off shore, America's single most important competitive initial factor endowment of technological innovation was lost. Technological innovation, prior to the trade deals, used to occur in the metro regional manufacturing supply chains in 350 metro regions, as a result of tacit knowledge creation and diffusion among the small manufacturing firms. After the trade deals, the citizens discovered that innovation and product commercialization does not occur in the gig economy. Innovation occurs in the industrial supply chains, now located in China. We argue that the members of the Business Roundtable, and the establishment Republican Party knew, in advance, the economic damage that would be caused by moving the supply chains to China, but calculated that the benefits of their increased profits outweighed the social costs imposed upon American citizens. Part of their propaganda, at the time, was that there would be high paying, stable jobs in services that replaced the high paid manufacturing jobs. This was a lie, and the elites knew it was a lie, at the time that they used it to change the laws on trade with China. The dysfunctional American political system is accurately described by Angelo Codevilla, as the Ruling Class, who make decisions that are not connected to the will of the citizens. Secret decisions by the Ruling Class are the primary cause for the trade agreements with China. The American citizens were never informed about the globalist intent of the elites, or the permanent economic damage caused by the deals, until it was too late. We conclude that the problem of a dysfunctional crony capitalist system and the centralized Ruling Class elite tyranny in Washington cannot be fixed, under the existing Constitution. The ideology of globalism, in both the socialist Democrat and crony corporate Republican Party is too entrenched, and the unelected power of the deep state agents are too deeply embedded in the government apparatus to be dislodged by common citizens, through periodic elections. We conclude that nothing binds the globalist factions together in a common national mission with Trump's national sovereignty ideology. The global Democrat socialists will never voluntarily obey the unwritten American rule of law because they will never share the cultural belief that all persons, institutions, and entities are subject to the equal application of the law. The crony global corporate elites will never, willingly, give up their trans-national global trading privileges to share power with common citizens, in the current framework of the representative republic. The establishment Republicans, like Senator Burr, of North Carolina, derive too many financial benefits from collaborating with the Democrats and global corporations, to change the status quo of power, or the distribution of tribute. The solution for citizens is to follow the advice of Jefferson, that whenever any form of government becomes destructive to the ends for which it was created, it is the right of the people to alter or to abolish it, and to institute a new government. The best, non-violent, idea for dealing with the irreconcilable ideological differences is a civil dissolution of the nation and the implementation of a new government, based upon the framework of state sovereignty, under the provisions of Article I, Section 10, Clause 3, the state compact clause. I am Laurie Thomas Vass, and this is the copyrighted Citizen Liberty Party News Network podcast for March 27, 2020. Our podcast today is under the CLP topic category Vichy Republican Collaborators and is titled, Who Is It In America That Is Responsible For the Trade Agreements With China? The most recent podcast of the CLP News Network is available for free. The entire text and audio archive of our podcasts are available for subscription of $30 per year, at the CLP News Network.com.  

In this episode of the Summer Solutions 2019 for the Keiser Report, Max and Stacy discuss the fact that the elite of the ‘opposition’ party in America are offering up a platform promising that “nothing fundamentally will change.” What they mean by this, as represented by lifelong politician, Joe Biden, is that the wealth and income gap will continue to increase as more and more of government resources and power are diverted toward maintaining the status quo despite the increasing mortality rates and the subsequent anger which has seen the rise of candidates like Donald Trump. They look at the significance of Biden kissing the ring of Robert Rubin, who presided over the repeal of Glass-Steagall and the introduction of the Commodity Futures Modernization Act, which together are most responsible for allowing for the wholesale looting of the American population by Wall Street. They also discuss the toxic mountain of plastics sailing around the world looking for a weak country willing to dump the waste onto the front lawn of powerless populations and how this can serve as an analogy for the global debt which has been packaged and rolled over for forty years onto the balance sheets of those yet to be born and, so, who have no voice to protest the odious debts.

A sacred masculine conversation between two starseeds in US and Philippines discussing Tarot, healing, fitness and the intuitive movement. Robert Rubin is the founder of Mysterium Philippines, the Philippines leading intuitive Training institute and service provider. He has taught over 500 people in the arts of Intuitive development and Tarot from within the Philippines and around the world. He is the author of 2 books (Defensive Occultism) and (The intuitive Within) both which have been featured on CNN Philippines and on Tonight with Boy Abunda. Renowned as the Philippine Tarot authority as he has been reading for over 23 years now and has helped re-image the Tarot into a respectable practice these past 10 years through the creation of Tarot Philippines. Robert's intention is to network with like minds to help spread to the news that the Philippines is an up and coming hotspot for intuitive development around the world. His organization Mysterium Philippines organizes, conducts, markets and publicizes GENUINE Intuitive Talent and helps the society of the country by bringing the right students to the best teachers possible. Robert's objective for his chapter submission for the Awakening Starseed book by Radhaa Publishing is about the Awakening of the Philippine Intuitive Community and the Discovery of YOUR intuitive within. For more information about the Awakening Starseeds-Stories Beyond The Stargate book series, you can send a message to radhaapublishing@gmail.com requesting an information package. --- Support this podcast: https://anchor.fm/iamenoughhealing/support

Robert Rubin, former US Secretary of The Treasury under President Clinton, talks taxes, China, and more with Financial Times' Robin Wigglesworth. This conversation was recorded June 27, 2017 in NYC.

In this conversation between renowned architecture preservationist Robert Rubin and Curatorial Assistant Dylan Turk, Rubin shares reflections on the Fly's Eye Dome, which he acquired and restored in 2013.

A little background on how we put "The Girls" together.

An improvised piece of music underscoring "The Girls" by Robert Rubin.

Today on Trend Following Radio Michael Covel interviews Philip Tetlock. Phil is a Canadian American political science writer currently at The Wharton School of the University of Pennsylvania. He is right at the intersection of psychology, political science and organizational behavior. His book, “Superforecasting: The Art and Science of Prediction,” is about probabilistic thinking defined. Phil is also a co-principle investigator of The Good Judgment Project, a study on the art and science of prediction and forecasting.Michael starts off asking, “Regular folks can beat the experts at their own game?” Phil says essentially that is correct. He started The Good Judgment Project in 2011. It was based around forecasting and was funded by the government. He was shocked by the amount of “regular” people he recruited for his study that were able to compete with, or do a better job predicting than professionals working for agencies such as the NSA.Michael and Phil move onto discussing the Iraq war. They discuss what the actual probability may have been of Saddam Hussein having weapons of mass destruction. George Bush claimed that it was a “slam dunk” when clearly there was not a 100% probability of weapons of mass destruction being there. Michael asks, “When is society going to adopt more of a probability mindset?” Phil says that soft subjective human judgment is going by the way side. Pundits saying, “Someday this will happen” without any real substance, will come to a stop. As long as a forecaster can say, “This may happen in the future” then they can never really be held accountable for being wrong. Michael brings up the example of Robert Rubin. Robert worked for Goldman Sachs and was under Bill Clinton during his presidency. He was a great probabilistic thinker. Everyone loved him until the 2008 crash. Phil uses him as an example of even the best prediction people getting it wrong.Bottom line, superforecasters look for aggregated data. They know there is interesting data laying around and they tend to look at crowd indicators heavily. The distinction between superforecasters and regular forecasters is their ability to start with the outside view and move to the inside slowly. Regular forecasters start with the inside view and rarely look at the outside view. Superforecasters also believe in fate less than regular forecasters do. When you highlight all the low probability events surrounding outcomes, such as the lottery, many chose to think the event was decided by “fate” or just “meant to be.” Superforecasters think in a way of “well someone had to win, and they did.” In this episode of Trend Following Radio: What are superforecasters? Probabilistic thinking Looking at aggregate data

In this session, Sheryl Sandberg, chief operating officer of Facebook, interviews former U.S. Treasury Secretaries Timothy Geithner, Henry Paulson and Robert Rubin about global economic trends, public finance and capital markets. Join us for a discussion among three renowned leaders of finance.

The Hillary Clinton nutcracker reappeared this week -- a blonde plastic doll with sharp, steel-lined legs. The stupid sexist toy came to retail shelves amid a slew of post midterm stories that repeated old boring guff about the Democrats' age, her health her ambition and her looks - and sent team Clinton into high dudgeon of course. In the months ahead, the Clinton camp may want to take note and stockpile those nut-cracking dolls if only to distract voters from more serious issues. When the stench of sexism is in the air, it's no surprise that feminist hackles rise and that's typically worked for Clinton's political fortunes. But before so much misogynist mud is thrown that progressive voters just can't see straight, can we remember that there are plenty of models of valiant feminist leadership that, in contrast to the Senator, don't involve waging war, protecting Wall Street and flacking for the world's largest corporations? Take two women who were honored in Washington on the same day the nutcracker story (somehow) broke: former financial regulator Brooksley Born and Jobs with Justice director Sarita Gupta. Just over a decade ago, when she headed up the Commodities Futures Trading Commission, Born tried to regulate financial derivatives before they had a chance to blow the US economy up. Casssandra-like she saw the writing on Wall Street's wall and was ignored belittled and driven out of her job by the very same Larry Summers and Robert Rubin who were close allies of Clinton. If Brooksley Born were running for the nomination, she'd no doubt be getting plenty of sexist grief —but without the six figure speaking fees that are reportedly coming from Goldman Sachs to Hillary. Sarita Gupta is a long-time crusader for women's rights. To her, wages and trade rules are as much women's issues as the right to a safe legal abortion. Gupta's taken on among others, the global giant Wal-Mart over the exploitation of its drive-to-the-bottom supply chains. Hillary Clinton, by contrast, once served on the board of Wal-Mart; she's rarely seen a trade deal she didn't like. As secretary of state, she promoted the Trans-Pacific Partnership, the most far-reaching trade pact ever. So, sexist smoke, it smells and it has a way of getting in feminist eyes. But that shouldn't blind us to the facts. While there's every reason to think Hillary Clinton can handle a steely-thighed doll gag, the women of the world deserve better than another race in which smart feminists simply line-up, doll-like behind a Clinton candidate. You can watch my interview with Cindy Wiesner and Gopal Dayaneni on the how grassroots groups changed the agenda of the climate justice march, on the Laura Flanders Show at GRITtv.org. And find out more about our syndication on TeleSUR English and beyond. To tell me what you think, write to me: Laura@GRITtv.org.

In this session, Carlyle Group co-founder David Rubenstein interviews former U.S. Treasury Secretary Robert Rubin and Nobel laureate economist Gary Becker about global economic trends, public finance and the capital markets. Join us for a multifaceted discussion among three renowned leaders of finance.

In this session, Carlyle Group co-founder David Rubenstein interviews former U.S. Treasury Secretary Robert Rubin and Nobel laureate economist Gary Becker about global economic trends, public finance and the capital markets. Join us for a multifaceted discussion among three renowned leaders of finance.

Robert Rubin and Chrystia Freeland discuss the US Economy.

How do we bend the cost curve and provide top health care at the same time? Speakers: Kenneth L. Davis, Peter R. Orszag, Robert Rubin, Kevin Vigilante

Speakers: Gary Becker, Nobel Laureate; Professor of Economics and Sociology, University of Chicago, Robert Rubin, Co-Chairman, Council on Foreign Relations; former U.S. Treasury Secretary. Moderator:David Rubenstein, Co-Founder and Co-CEO, The Carlyle Group. In this session, Carlyle Group co-founder David Rubenstein interviews former U.S. Treasury Secretary Robert Rubin and Nobel laureate economist Gary Becker about global economic trends, public finance and the capital markets. Join us for a multifaceted discussion among three renowned leaders of finance.

“Information is free, it’s what you do with it that makes it valuable” - Robert Rubin. Sylvia Global arrives in Los Angeles to talk with Robert Rubin, Executive Director of the Vermont Village Community Development Corporation.  He produces results by developing housing and generating employment.  As one of the most successful faith-base community development corporations, Robert shares the best practices and challenges associated with being the Executive Director of a CDC affiliated with one of tne largest churches, Crenshaw Christian Center.  As economic driver in urban Los Angeles, churches are making a difference and the SBA Faith-base Office encourages and supports these efforts.  Learn more.  The information is free. 

 *This is the version without background music throughout; if you would like to listen to this episode with background music, use the mirror feed found at http://renaissance.libsyn.com/ or http://renaissance.libsyn.com/peacerevolution104 Statements which reveal the New World Order: The Intellectual Elite vs. You / The Resurrection of Critical ThinkingRaw Footage audio / Interview Clips from the film Believers Beware: Contrary Conditioning by Paul Verge----------------Richard Grove, filmed 12.10.20091) The idea of a NEW WORLD ORDER. Plato's Republic. The suppression of consciousness. A comprehensive endeavor. Seeking to subjugate the masses thru a watered down education. HG Wells, "NWO", subliminals2) Agatha Christie's novel/movie "Murder on the Orient Express" too much evidence. cant be just one culprit. creating plausible deniability. each party plays 2 parts. an actual part, and the plausible denial. Interchangeable parts.3) Ego worshippers, using the hidden knowledge to help perpetuate this "new world order". Intellectual elite dumbing down the masses. More on Plato's Republic.4) Plato's allegory of the cave. Good description. How the illusion works. Same as now as it was 2500 years ago. Pullout of Afghanistan by sending in more people. Doublethink and Schizophrenia.5) Reading books vs. internet only research Eustace Mullins - "Secrets of the Federal Reserve." His other book "The World Order"6) "Superclass" using Rhetoric, Fallacy arguments, and dumbing us down.7) News agencies lying to help protect their advertisers. How the NWO is fed by  that relationship.8) "With No Apologies" by Senator Barry M. Goldwater Chapter 33 - The Non ElectedRulers, Col. Edward Mandell House CFR, House, JP Morgan. Trilateral Commission.Council on Foreign Relations. Surrendering Sovereignty, Merger and Consolidation.9) More from "With No Apologies" from Barry M. Goldwater10) Right Leg and Left Leg stepping towards goal. Part of same torso (CFR, TC, Bilderberg.) More on Trilaterals Subverted groups, Zbigniew Brzezinski. Controlling groups invisibly thru Bait & Switch.  Goldwater on the Trilateral Commission. Global Warming, etc.11) "Superclass", David Rothkopf CFR Member - Cover says, We've got the world on ourkey chain, ready to take it for a ride. - Fareed Zacharia, CFR "The Post-American World" 12) The Last Will and Testament of Cecil John Rhodes. forming Working Groups from his fortune left behind to those who undermine state sovereignty. Plan laid out. Why are we not taught this in schools?13) Lewis Lapham's film, "The American Ruling Class" CFR members, all sorts of people exposed in the film. Read books, learn things, they rule because we are willfully ignorant. "The American Public just doesn't read." (Allen Dulles) Buy old good books instead of self help mumbo jumbo & LEARN.14) Lisa on Albert Einstein Learning our way out of  the insanity by evolving our consciousness.15) Lisa on John Taylor Gatto, and "Dumbing Us Down" ie: ridding us of effective Critical Thinking skills.16) John Taylor Gatto's 7 things he really Teaches1) CONFUSION2) CLASS POSITION3) INDIFFERENCE4) EMOTIONAL DEPENDANCY5) INTELLECTUAL DEPENDANCY6) PROVISIONAL (OR CONDITIONAL) SELF ESTEEM7) ONE CANNOT HIDE (SURVEILLANCE)17) Other selected passages from "Dumbing Us Down"18) John Taylor Gatto's 7 things he really Teaches (RE-CAP)19) Gene Odening's concern. The harm being brought to the current generation of students.20) Gene Odening on the Trivium21) Dan Brown's Lost SymbolOUTTAKES22) Cecil John Rhodes23) William T. Stead, The Interview, Titanic, Last Will and Testament of  Cecil John Rhodes.24) ALTERNATE ON William T. Stead, The Interview, Titanic, Last Will and Testament of Cecil John Rhodes.25) Last Will and Testament of Cecil John Rhodes. How to find books... "The Review of Reviews"26) William T. Stead, Last Will and Testament of Cecil John Rhodes. ACTUAL BOOK UNVEILING27) Last Will and Testament of Cecil John Rhodes.  Quotes from the Book. plus Rich's elucidations28) Last Will and Testament of Cecil John Rhodes. Quotes from p. 73 of book plus Rich's elucidations29) Removing doubts that the NWO exists..  About Carroll Quigley30) Quote from Quigley31) Quote from Quigley on Internalization of Controls32) Hemp, Oil, Carbon emissions 500 largest ships put out more crap than all vehicles' Global warming Realities. Pollution done by corporations, not the people. not by accident33) Quote from Quigley's Evolution of Civilizations Old way of war, vs. New form of war - subversion thru commerce.34) Good analogy of the monetary system as an invisible control system you can't see until you are out of it.35) On Quigley's "The Anglo- American Establishment", and "Tragedy and Hope", and Quigley's credibility.36) On John Taylor Gatto's book Dumbing Us Down, real society vs. what we are taught.Suppression of education. Tax-Exempt Foundations, Norman Dodd, Reece Committee, Rick Malchow & Mrs. Tichy37) Norman Dodd, Reece Committee, Robert Hutchens, Rene Wormser, Assembling evidence that the Foundations were up to no good. Kathryn Casey reads the Carnegie Endowment which are shocking.. Who to bring the US into war.38) Tax Exempt Foundation book The point - Dumbing Us Down so that we perpetuate a loss of critical thinking and become non-thinking followers. Frank Kapra's WHY WE FIGHT39) Why War is waged, and how to continue the consume- produce cycle by removing critical thinking to make the propaganda more effective. Why loss of critical thinking is a bad thing. Easily groomed to be servants. Empty minded consumers who take instructions without question.40) The Great Conversation - Robert Maynard Hutchins - The 500 families who own the copies of these books.41) The importance of these books and the Liberal Education..  In 1952 Hutchins was saying42) Liberal Education had been gone for 90 years!43) What would America look like after 150 years of watered down critical thinking ability? Anything like today? Understanding the NWO education.44) What exactly is the Liberal Education? The Great Conversation? Plato's Allegory of the Cave45) Homer, Plato, Aristotle, Sophicles, Plutarch, Dark Ages, Middle Ages, Renaissance. History Repeating itself.. Recognize patterns, and  change it up! Breaking the Status Quo/Honoring Tradition46) Civic Responsibility to Learn and understand things. Consent, Government, DeceptionRights, Privileges, Responsibility    47) NWO Ideology Political -Fabian Socialism, getting paid to argue persuasively. Religious -Theosophy William T. Stead, HG Wells, Cecil Rhodes, Rudyard Kipling, Mason, Swastika, Round Table Workgroups RIIA, CFR, Tavistock, Versailles Treaty48) Fabian Socialists, Fabius the Roman Dictator, Wolf in Sheep's clothing, Hammering the World into their image.49) Propaganda, Propagating ideas. Media is Propaganda. Is it helping to expand or suppress your consciousness. GREAT QUOTE50) Trivium and Quadrivium Thinking Critically and Creatively, Dorothy Sayers, Lost Tools of Learning, Autodidactic Learning51) Quote from Dorothy Sayers, "The Lost Tools of Learning"52) Trivium and the 3,4,5 Triangle. 3 Trivium 4 Quadrivium 5 Senses53) Trivium - Grammar, Logic, Rhetoric.. How and Why the Trivium works.. The effect of  taking them out.54) Why learn the Trivium- Seeing thru the fallacies, figuring out hard facts, and transferring that understanding. Having a Virus Scanner for your mind. Follow money exposing the Fallacy Rhetoric 1886 - Supreme Court Justice Morrison R. Waite Gives CORPORATIONS the rights of Humans. Socio-Psychopath Corporations Charters, Profit Monsters55) Externalization of Costs, Why things aren't as cheap as you think. Passing the cost on to other poor folk. Connecting Emotions to Advertising. Taking News & Ads as truth. Mass Media Public Relations (pre TV)56) War is a Racket, Smedley Butler , the 1934-1935  Business Plot - Gerald MacGuire57) Quotes from War is a Racket,  Smedley Butler ,   58) Who was Smedley Butler?59) Propaganda, 1928 Edward Bernays, (Sigmund Freud's nephew).  Chapter 1 - Organizing Chaos (quote from HH)60) More quote from Propaganda by Edward Bernays61) The Tavistock Institute of Human Relations. Bringing America into war against Germany by using Propaganda and Demonization62) After Treaty of Versailles 1919 Invention fo Credit leads to the Roaring 20's.  Bernays & Lippmann  start sexing up ads. Public Opinion - Walter Lippmann, Plato's Allegory of the Cave63) Bernays' 1928 Propaganda, builds on Lippmann's P.O., Tavistock, using mass media to fool the public en masse. Tying it all together... Bankers funding these Ideologies as a Hegelian Dialectic.64) The END result? The Planned Obsolescence of America65) Lawyer from Skadden Arps, adding 26 words to Corporations Act   66) Earning profit responsibly, Cartel Capitalism VS. Compassionate Capitalism, Pollution, Corps Externalizing Costs67) Using the Hegelian Dialectic to fool us into fixing their dirty work. Where the hole in the system is. Environmentalism Agenda 21 and Depopulation Coralling us into a False dilemma68) The Club of Rome, "The First Global Revolution" how to make Humanity the enemy of Humanity by Blaming us for pollution, global warming, and over popluation. Planned Obsolesence69) When the working groups and think tanks and societies all got together to make US pay for their crap, and to control us. The Carbon Tax Scam Blood and Gore Trading Firm Taxing the Problem instead of Solving. Avoiding REAL solutions like Hemp.70) Similar scam to US economy. Robert Rubin removing Glass/Steagall laws of regulation. Tyco, Enron, Worldcom result. Sarbanes-Oxley supposed to tighten it up, but doesn't really. SEC bad, ref. 20-20 Hindsight. Goldman Sachs COO 29 year old  71) Whistleblowing, and Rich's experiences. If the public knew what Rich knew, all thesefinancial scams could have been avoided.  The irony of paying institutions and magazinesto lie to you. Conceal and Reveal72) Education and Religion do 2 things with information- They provide it and conceal it.Which information is more valuable?73) Prisoner VS Slave mentality - Hoping for a better master, a better system of obeying.Prisoners want to break out and think for themselves. Offering info to the slaves can upset them into trying to stop the prisoners from leaving74) The Root of the Problem. The Suppression of Consciousness. Artificial boundaries.Einstein - You cant solve a problem from the same mindset that created it. Question everything.75) Freedom, Being a Slave vs. Prisoner76) Explaining the Game to children and empowering them.77) The Reality of the True Problem. Rejecting the Status Quo78) What corporations want you to do VS what you should be doing.. How they profit from our ignorance.  Reading VS Violence79) Learning our way out of the Problem. Sharing the wisdom.  Popping the illusion bubble.80) Treating Root causes instead of Symptoms in society, our lives, and our health. Avoiding the cycle.81) Actually listening and realizing REAL solutions vs. looking to Corporate Authorities for solutions (they can't profit from)82) Learning, Understanding, disarming the fear with Knowledge. Not showing you what to think, but teaching you How to think.83) All the little chains attached to us to prevent our full self-expression. Disinfo agents  drawing peoples energy and attention.84) Purposeful complication 85) Words, Propaganda, making choices to react Emotionally instead of Critically.86) High Vs. Low Vibrations, Tone, From SD to HD87) Synchronicity, Carl Jung, Legitimate Suffering,88) Fear, Manifestation, Religion, the Middle man, Suppressing Consciousness and Hell89) Believing VS. Really Knowing.  Some GREAT easy solutions.90) Running it Their Way: Corporate Pollution and externalizing Blame with their Scams (Global Warming, War on Terror)91) Not knowing Frees you to actually Learn, Fear Free, when you let go of the pre-conditioning. Why churches hide things occultism (hidden). Vaccination of Info92) The common Realization - Finding Solutions through changing our habits first. then collaborating resisting advertising taking back our time93) Solving Problems with Words and Understanding and Cooperation. Logic and Reason94) Spending our time like we spend our money. Get to know your REAL self. Noticing the Corporate Conditioning, and being constructive against it. Taking Steps to Action.95) Acting Vs. Reacting and Asking the Right Questions about our habits96) Who are you? What is important? Do you like what your doing? What are you doing to change it?97) The multi-pronged onslaught against us. Connecting the dots and bringing things back to something good. Corporate Media Bad.98) Neil Postman "Amusing our Selves to Death" Suppression of Consciousness. Learning our way out of the game with good decisions.99) Consumerism/Slavery, Understanding motives and intentions. Threat and Fear Culture. Love. The Frequency opposed to Fear.100) Our adversaries are our greatest teachers.101) Learn the lessons! They fear the awakening102) Selective Genocide, Homosexuality as a control mechanism. Setting the boundaries.103) Overcome Fear, Learn our way Free, Achieve Happiness, don't avoid fear and pain. Confront and defeat it! Take your Life Back!104) Rich's final message. Does our Propaganda help or suppress your consciousness?THANK YOU FOR YOUR SUPPORT! If you would like to donate so that we can continue producing independent media without commercial advertising, simply click the button below for a one-time donation: Alternatively, You can become a Member and Support our ability to create media for the public (while You make new friends and enjoy educating yourself along the way) by subscribing to the Tragedy and Hope Community: Monthly @ $14.95 / month Yearly @ $120.00 / year *Subscription details on Subscribe page in the Top Menu.

The version on this feed has background music... if you prefer to listen without the music, the Peace Revolution dot org site has the version without background music. THANK YOU FOR YOUR SUPPORT! Right click on "pod" (above) to download / alternative download site: www.PeaceRevolution.org Subscribe to this podcast via iTunes (click here)   List of Interview Clip Titles / Believers Beware: Contrary Conditioning by Paul Verge   104 Statements which reaveal the New World Order: The Intellectual Elite vs. You / The Resurrection of Critical Thinking ---------------- Richard Grove, filmed 12.10.2009 1) The idea of a NEW WORLD ORDER. Plato's Republic. The suppression of consciousness. A comprehensive endeavour. Seeking to subjugate the masses thru a watered down education. HG Wells, "NWO", subliminals 2) Agatha Christie's novel/movie "Murder on the Orient Express" too much evidence. cant be just one culprit. creating plausible deniability. each party plays 2 parts. an actual part, and the plausible denial. Interchangeable parts. 3) Ego worshippers, using the hidden knowledge to help perpetuate this "new world order". Intellectual elite dumbing down the masses. More on Plato's Republic. 4) Plato's allegory of the cave. Good description. How the illusion works. Same as now as it was 2500 years ago. Pullout of Afghanistan by sending in more people. Doublethink and Schizophrenia. 5) Reading books vs. internet only research Eustace Mullins - "Secrets of the Federal Reserve." His other book "The World Order" 6) "Superclass" using Rhetoric, Fallacy arguments, and dumbing us down. 7) News agencies lying to help protect their advertisers. How the NWO is fed by  that relationship. 8) "With No Apologies" by Senator Barry M. Goldwater Chapter 33 - The Non Elected Rulers, Col. Edward Mandell House CFR, House, JP Morgan. Trilateral Commission. Coucil on Foreign Relations. Surrendering Sovereignty, Merger and Consolidation. 9) More from "With No Apologies" from Barry M. Goldwater 10) Right Leg and Left Leg stepping towards goal. Part of same torso (CFR, TC, Bilderberg.) More on Trilaterals Subverted groups, Zbigniew Brzezinski. Controlling groups invisibly thru Bait & Switch.  Goldwater on the Trilateral Commission. Global Warming, etc. 11) "Superclass", David Rothkopf CFR Member - Cover says, We've got the world on our key chain, ready to take it for a ride. - Fareed Zacharia, CFR "The Post-American World"  12) The Last Will and Testement of Cecil John Rhodes. forming Working Groups from his fortune left behind to those who undermine state sovereignty. Plan laid out. Why are we not taught this in schools? 13) Lewis Lapham's film, "The American Ruling Class" CFR members, all sorts of people exposed in the film. Read books, learn things, they rule because we are willfully ignorant. "The American Public just doesn't read." (Allen Dulles) Buy old good books instead of self help mumbo jumbo & LEARN. 14) Lisa on Albert Einstein Learning our way out of  the insanity by evolving our consciousness. 15) Lisa on John Taylor Gatto, and "Dumbing Us Down" ie: ridding us of effective Critical Thinking skills. 16) John Taylor Gatto's 7 things he really Teaches 1) CONFUSION 2) CLASS POSITION 3) INDIFFERENCE 4) EMOTIONAL DEPENDANCY 5) INTELLECTUAL DEPENDANCY 6) PROVISIONAL (OR CONDITIONAL) SELF ESTEEM 7) ONE CANNOT HIDE (SURVEILLANCE) 17) Other selected passages from "Dumbing Us Down" 18) John Taylor Gatto's 7 things he really Teaches (RE-CAP) 19) Gene Odening's concern. The harm being brought to the current generation of students. 20) Gene Odening on the Trivium 21) Dan Brown's Lost Symbol OUTTAKES 22) Cecil John Rhodes 23) William T. Stead, The Interview, Titanic, Last Will and Testement of  Cecil John Rhodes. 24) ALTERNATE ON William T. Stead, The Interview, Titanic, Last Will and Testement of Cecil John Rhodes. 25) Last Will and Testement of Cecil John Rhodes. How to find books... "The Review of Reviews" 26) William T. Stead, Last Will and Testement of Cecil John Rhodes. ACTUAL BOOK UNVEILING 27) Last Will and Testement of Cecil John Rhodes.  Quotes from the Book. plus Rich's elucidations 28) Last Will and Testement of Cecil John Rhodes. Quotes from p. 73 of book plus Rich's elucidations 29) Removing doubts that the NWO exists..  About Caroll Quigley 30) Quote from Quigley 31) Quote from Quigley on Internalization of Controls 32) Hemp, Oil, Carbon emissions 500 largest ships put out more crap than all vehicles' Global warming Realities. Pollution done by corporations, not the people. not by accident 33) Quote from Quigley's Evolution of Civilizations Old way of war, vs. New form of war - subversion thru commerce. 34) Good analogy of the monetary system as an invisible control system you can't see until you are out of it. 35) On Quigley's "The Anglo- American Establishment", and "Tragedy and Hope", and Quigley's credibility. 36) On John Taylor Gatto's book Dumbing Us Down, real society vs. what we are taught. Supression of education. Tax-Exempt Foundations, Norman Dodd, Reece Commitee, Rick Malchow & Mrs. Tichy 37) Norman Dodd, Reece Committee, Robert Hutchens, Rene Wormser, Assembling evidence that the Foundations were up to no good. Kathryn Casey reads the Carnegie Endowment which are shocking.. Who to bring the US into war. 38) Tax Exempt Foundation book The point - Dumbing Us Down so that we perpetuate a loss of critical thinking and become non-thinking followers. Frank Kapra's WHY WE FIGHT 39) Why War is waged, and how to continue the consume- produce cycle by removing critical thinking to make the propaganda more effective. Why loss of critical thinking is a bad thing. Easily groomed to be servants. Empty minded consumers who take instructions without question. 40) The Great Conversation - Robert Maynard Hutchins - The 500 families who own the copies of these books. 41) The importance of these books and the Liberal Education..  In 1952 Hutchins was saying 42) Liberal Education had been gone for 90 years! 43) What would America look like after 150 years of watered down critical thinking ability? Anything like today? Understanding the NWO education. 44) What exactly is the Liberal Education? The Great Conversation? Plato's Allegory of the Cave 45) Homer, Plato, Aristotle, Sophicles, Plutarch, Dark Ages, Middle Ages, Renaissance. History Repeating itself.. Recognize patterns, and  change it up! Breaking the Status Quo/Honoring Tradition 46) Civic Responsibilty to Learn and understand things. Consent, Government, Deception Rights, Priviledges, Responsibility     47) NWO Ideology Political -Fabian Socialism, getting paid to argue persuasively. Religious -Theosophy William T. Stead, HG Wells, Cecil Rhodes, Rudyard Kipling, Mason, Swastika, Round Table Workgroups RIIA, CFR, Tavistock, Versailles Treaty 48) Fabian Socialists, Fabius the Roman Dictator, Wolf in Sheeps clothing, Hammering the World into their image. 49) Propaganda, Propagating ideas. Media is Propaganda. Is it helping to expand or suppress your consciousness. GREAT QUOTE 50) Trivium and Quadrivium Thinking Critically and Creatively, Dorothy Sayers, Lost Tools of Learning, Autodidactic Learning 51) Quote from Dorothy Sayers, "The Lost Tools of Learning" 52) Trivium and the 3,4,5 Triangle. 3 Trivium 4 Quadrivium 5 Senses 53) Trivium - Grammar, Logic, Rhetoric.. How and Why the Trivium works.. The effect of  taking them out. 54) Why learn the Trivium- Seeing thru the fallacies, figuring out hard facts, and transferring that understanding. Having a Virus Scanner for your mind. Follow money exposing the Fallacy Rhetoric 1886 - Supreme Court Justice Morrison R. Waite Gives CORPORATIONS the rights of Humans. Socio-Psychopath Corporations Charters, Profit Monsters 55) Externalization of Costs, Why things aren't as cheap as you think. Passing the cost on to other poor folk. Connecting Emotions to Advertising. Taking News & Ads as truth. Mass Media Public Relations (pre TV) 56) War is a Racket, Smedley Butler , the 1934-1935  Business Plot - Gerald MacGuire 57) Quotes from War is a Racket,  Smedley Butler ,    58) Who was Smedley Butler? 59) Propaganda, 1928 Edward Bernays, (Sigmund Freud's nephew).  Chapter 1 - Organizing Chaos (quote from HH) 60) More quote from Propaganda by Edward Bernays 61) The Tavistock Institute of Human Relations. Bringing America into war against Germany by using Propaganda and Demonization 62) After Treaty of Versailles 1919 Invention fo Credit leads to the Roaring 20's.  Bernays & Lippmann  start sexing up ads. Public Opinion - Walter Lippmann, Plato's Allegory of the Cave 63) Bernay's 1928 Propaganda, builds on Lippmann's P.O., Tavistock, using mass media to fool the public en masse. Tying it all together... Bankers funding these Ideologies as a Hegelian Dialectic. 64) The END result? The Planned Obsolesence of America 65) Lawyer from Skadden Arps, adding 26 words to Corporations Act    66) Earning profit responsibly, Cartel Capitalism VS. Compassionate Capitalism, Pollution, Corps Externalizing Costs 67) Using the Hegelian Dialectic to fool us into fixing their dirty work. Where the hole in the system is. Environmentalism Agenda 21 and Depopulation Coralling us into a False dilemma 68) The Club of Rome, "The First Global Revolution" how to make Humanity the enemy of Humanity by Blaming us for pollution, global warming, and over popluation. Planned Obsolesence 69) When the working groups and think tanks and societies all got together to make US pay for their crap, and to control us. The Carbon Tax Scam Blood and Gore Trading Firm Taxing the Problem instead of Solving. Avoiding REAL solutions like Hemp. 70) Similar scam to US economy. Robert Rubin removing Glass/Steagel laws of regulation. Tyco, Enron, Worldcom result. Sarbanes-Oxley supposed to tighten it up, but doesn't really. SEC bad, ref. 20-20 Hindsight. Goldman Sachs COO 29 year old   71) Whistleblowing, and Rich's experiences. If the public knew what Rich knew, all these financial scams could have been avoided.  The irony of paying institutions and magazines to lie to you. Conceal and Reveal 72) Education and Religion do 2 things with information- They provide it and conceal it. Which information is more valuable? 73) Prisoner VS Slave mentality - Hoping for a better master, a better system of obeying. Prisoners want to break out and think for themselves. Offering info to the slaves can upset them into trying to stop the prisoners from leaving 74) The Root of the Problem. The Suppression of Consciousness. Artificial boundaries. Einstein - You cant solve a problem from the same mindset that created it. Question everything. 75) Freedom, Being a Slave vs. Prisoner 76) Explaining the Game to children and empowering them. 77) The Reality of the True Problem. Rejecting the Status Quo 78) What corporations want you to do VS what you should be doing.. How they profit from our ignorance.  Reading VS Violence 79) Learning our way out of the Problem. Sharing the wisdom.  Popping the illusion bubble. 80) Treating Root causes instead of Symptoms in society, our lives, and our health. Avoiding the cycle. 81) Actually listening and realizing REAL solutions vs. looking to Corporate Authorities for solutions (they can't profit from) 82) Learning, Understanding, disarming the fear with Knowledge. Not showing you what to think, but teaching you How to think. 83) All the little chains attached to us to prevent our full self-expression. Disinfo agents  drawing peoples energy and attention. 84) Purposeful complication  85) Words, Propaganda, making choices to react Emotionally instead of Critically. 86) High Vs. Low Vibrations, Tone, From SD to HD 87) Synchronicity, Carl Jung, Legitimate Suffering, 88) Fear, Manifestation, Religion, the Middle man, Supressing Consciousness and Hell 89) Believing VS. Really Knowing.  Some GREAT easy solutions. 90) Running it Their Way: Corporate Pollution and externalizing Blame with their Scams (Global Warming, War on Terror) 91) Not knowing Frees you to actually Learn, Fear Free, when you let go of the pre-conditioning. Why churches hide things occultism (hidden). Vaccination of Info 92) The common Realization - Finding Solutions through changing our habits first. then collaborating resisting advertising taking back our time 93) Solving Problems with Words and Understanding and Cooperation. Logic and Reason 94) Spending our time like we spend our money. Get to know your REAL self. Noticing the Corporate Conditioning, and being constructive against it. Taking Steps to Action. 95) Acting Vs. Reacting and Asking the Right Questions about our habits 96) Who are you? What is important? Do you like what your doing? What are you doing to change it? 97) The multi-pronged onslaught against us. Connecting the dots and bringing things back to something good. Corporate Media Bad. 98) Neil Postman "Amusing our Selves to Death" Suppression of Consciousness. Learning our way out of the game with good decisions. 99) Consumerism/Slavery, Understanding motives and intentions. Threat and Fear Culture. Love. The Frequency opposed to Fear. 100) Our adversaries are our greatest teachers. 101) Learn the lessons! They fear the awakening 102) Selective Genocide, Homosexuality as a control mechanism. Setting the boundaries. 103) Overcome Fear, Learn our way Free, Acheive Happiness, don't avoid fear and pain. Confront and defeat it! Take your Life Back! 104) Rich's final message. Does our Propaganda help or suppress your consciousness?     If you would like to donate so that we can continue producing independent media without commercial advertising, simply click the button below for a one-time donation: Alternatively, You can become a Member and Support our ability to create media for the public (while You make new friends and enjoy educating yourself along the way) by subscribing to the Tragedy and Hope Community: Monthly @ $14.95 / month Yearly @ $120.00 / year *Subscription details on Subscribe page in the Top Menu.

The U.S. services sector grew at a faster-than-expected rate in October boosted by strength in new orders. The Institute for Supply Management's index gauging the health of non-manufacturing industries registered 55.8, up from 54.8 in September.Citigroup Inc. (C) has forced out Chuck Prince as chairman and chief executive amid word the financial-services giant will write down as much as another $11 billion in bad mortgage assets. Robert Rubin, the former U.S. Treasury secretary and co-head of Goldman Sachs, will become chairman. Time Warner?s (TWX) Chief Executive Richard Parsons will step down and be replaced by Chief Operating Officer Jeffrey Bewkes. Bewkes, identified as the heir apparent since 2005, will take over the CEO job on January 1st. Parsons will remain as chairman.IAC/InterActiveCorp (IACI), the Internet conglomerate run by media mogul Barry Diller, said it will break itself into five publicly-traded businesses. The company said its HSN home shopping network, Ticketmaster ticketing service, Interval time-share business and LendingTree mortgage referral units would be spun off.PetroChina Co. (PTR) shares more than doubled in their Shanghai debut, giving the oil giant a $1 trillion market capitalization and easily surpassing Exxon Mobil as the world's largest company.Fed Chairman Ben Bernanke will head to Capitol Hill to give his views on the economy. Bernanke's appearance in front of the Joint Economic Committee on Thursday could be the highlight of the coming week's economic news. In Forex News TodayThe dollar is not getting much respect these days and nothing seems to be able to prop it up. The US currency is getting pushed around with little regard. With the subprime mortgage house of cards falling down and billions of dollars leaving top financial banks - there is an uneasy feeling of crisis; the oil price is approaching the $100/barrel mark, gold continues to advance, many equities are taking a reality check, and jobs are only starting to get wiped out. All these factors are playing a part in the continuing decline of the US Dollar. The Canadian dollar meantime surged to its highest level against the US dollar since the currency was floated half a century ago after surprisingly strong Canadian employment data improved the loonie?s interest rate appeal. The Canadian dollar has risen over 20 per cent against the dollar so far this year. Analysts said the recent jobs data increased the chances that the Bank of Canada would leave interest rate on hold at 4.5 per cent in the coming months. And BNP Paribas chief currency strategist said the dollar may drop to $1.50 per euro by end of the year. The median estimate of 42 strategists is for the dollar to end the year at $1.43. Among those surveyed last week, the forecast ranges from $1.42 to $1.50.Scheduled Economic Reports (Tuesday)Retail Chain Index (Week of November 3rd)In Earnings NewsBurger King Holdings Inc. (BKC) said its fiscal first-quarter earnings rose 23 percent, surpassing Wall Street expectations. The chain earned $49 million, or 35 cents per share. Analysts expected 33 cents.Entergy Corp. (ETR) reported its third-quarter profit jumped 19 percent. Net income rose to $461.2 million, or $2.30 per share. Analysts expected $2.18 a share.Food distributor Sysco Corp. (SYY) reported it earned $267 million, or 43 cents per share. Analysts, on average, expected profit of 41 cents per share.Scheduled Earnings Reports (Tuesday)Cox Radio, Avis Budget Group, Cooper Tire & Rubber, Silicon Graphics, Molson Coors Brewing, El Paso Corp, HealthSouth, Nortel Networks, Ruth?s Chris Steakhouse, Tenet HealthcareStocks in the NewsPepsiCo (PEP) reorganized its business into three units - PepsiCo Americas Foods; PepsiCo Americas Beverages; and PepsiCo International.The Home Depot Inc. (HD) and Lowe's Cos. (LOW), were downgraded by a Deutsche Bank analyst who said that a recovery in the U.S. housing market is further off than he previously thought.And Dell Inc. (DELL) will acquire privately held EqualLogic, a network-storage provider, for $1.4 billion in cash.

Robert Rubin, Former U.S. Treasury Secretary (September 19, 2007)