on the way here because in a famous london towards attraction there is on because handing out flyers basically that's a perfect metaphor for what's happening in the press and the political process in this country my well you know i mean if there's a recovery then they would raise interest rates immediately yes because the rise in real estate prices and stock prices has come by draining the accounts of savers by transferring by some estimates over two hundred fifty billion pounds from pensioners and savers and giving it to real estate speculators and highly leveraged stock market speculators i don't think we've ever in this country got away from the fact they all got away from the idea that house prices inversely proportional to the over well functioning economy we still think britain britain generally also need the baby boom generation of funded everything of escalating house prices and a few of the more large souls think well this isn't a sustainable and b. you know a way to run an economy but the press don't want to hear that because they sell an awful lot of advertising space to t

it's producer in practice and what you're seeing at the moment is people farming out the laundry to london because it's they're still got an empire state of mind that i can live for i can get a free lunch from somebody else and get away with it the laws are very permissive for fraud yeah were it's good because what happens in a rent seeking economy or a want to society is government gets captured by the rent seekers so you look at george osborne now the u.k. chancellor and he can't make me i don't think he would anyway but i don't but he can't make meaningful leadership decisions because he's being told what to do who bought the fire sector so they are insurance and real estate and they're the rent seeking they're the rent seeking factors if you like but when they can just basically have the predators are ripping everybody else extracting real value from the real economy it will risk when it is likely zero risk they're not taking their portrayed as entrepreneurs who are risk taking oh no no here's what you want to risk here's the key point why on the entrepreneurs up in arms why only entre

this is what we're going to see in the inflation deflation debate as captured in these headlines today london housing market races ahead house prices in the capital rose eight point one percent in the year to june raising fears that the help to buy scheme is fueling a new property bubble i might add that kaiser report with the very first to say this that this was a ponzi scheme would lead to add of control inflation and this is what is happening it's eight point one percent rise in house prices here in london across the u.k. however prices are also rising and everybody is blaming the help to buy scheme right well it's important to understand that the government reports two point eight percent as the inflation inflation number this is and they say it's a mitigating and because they look at a basket of stuff and they cherry pick what's in that basket to make it look like there's a low inflation big why because their response bill for paying interest on things like retirement benefits etc so there you have to if they're interested in misstating inflation and they do mistake inflation and they do

bill in pounds why is it again this is interest rate apartheid why does the scroungers in the city of london get to have this option of money at a half a percent whereas everyone else is paying these extortion rights and they don't have their religion why is the bank of england only serving a few people why isn't serving the country as a whole what exactly what we go with the whole by we nationalized the debts and privatized the profits as a safe seats are the socialism for the rate to its corporate welfare which are every way you put it but when ordinary people get into a situation of working people or people who are employed or disabled people who have that benefits taken away when they're fools into such a state where they can no longer afford to pay that bills with rents which are out of control and if you prices food prices which i believe even the rates inflation in this country then of course they can go cap in hand to the government and be expected to be buy over our instead they have to go to an unregulated. legal and shark sector to make ends meet and face interest rates which are

phrase of interest rate apartheid in other words if you are a friend of the insiders in the city of london you can borrow money at half a percent or one percent if you're just a working stiff here in the u.k. you end up on a credit card which is double digit interest rates or you go to a payday loan words up to. as you just said five thousand percent annualized interest rates so it's discrimination through interest rates that discrimination is illegal in this country you can't discriminate based on sex you can't discriminate based on color why is it possible therefore to discriminate based on interest rates how they get away with that is that a human rights issue is does that as a read of as a british citizen make you a bit sick and. it certainly comes back to our earlier which is about fairness and it doesn't just happen in banking the money you know if you want to pay cattle it tricity me to pay more for your gas electricity and some going to direct debit and those who poor tend to pay more for their services and as we know those who are more money seem to spend less and less and less so

s use we'll look at the plight of jobless young brits two years after violent riots rocked london and other parts of the country. and russia's top court cuts the prison term for former oil tycoon mikhail khodorkovsky he'll walk free in a year istanbul. is two pm in moscow you were.

party this geographical apartheid here in in britain you know if you're from the north or you're from london there's housing apart tate's there's all kinds of polarizations and. and that's the part take combined with debt is is really making it really hard for people to organize so we know there's always been class struggle but what people don't understand is that there's also a new way to enforce this class struggle using interest rates which they don't appreciate they think it's a good idea that i can borrow money at five thousand percent a year they don't see how that plays into their overall being subjected to the pressures of an organized criminal syndicate of bankers and politicians speaking of criminals george osborne has helped to buy scheme is this some called it's a politically ingenious way to buy the next election but economically it's sucks no absolutely i call it to help to buy votes. well said thank you for being on the kaiser report and q thanks and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert like to thank our guest and bet

cameras for citizens something like we are more in london than anywhere else in the world yet for every time there's at least one or two cameras it is growing exponentially so they give that up in exchange for lower rates and a housing bubble that's always always without fail crashes well one of the biggest the biggest most economic crashes the crash of two thousand and eight was driven by a real estate bubble its real estate bubbles create more problems than they cure the other problem we have is planning restrictions nobody can build anything in this country i mean they can it's not as simple but it's just so onerous to try and buy land and get planning permission despite the fact the most land isn't built on it again it means that everyone's trying to buy this this tiny pool of land you know there's a tiny pool of houses and everyone's trying to buy those houses rather than you know the market being freed up the actually what we need is a land tax to give you no land tax that doesn't sound very tory friendly. i don't know we need a land tax so that unused land passes to people who ar