Alex Jones Show - 20080425_Fri_Alex

00:00:01.000 Michael Hoffman, former reporter, New York Bureau of Associated Press, other major publications, award-winning historian, highly respected joints.

00:00:31.000 I'll tell you about some of his books and his website.

00:00:34.000 If you'd like to check it out or learn more, revisionisthistory.org is one of the sites.

00:00:43.000 We have links to that up on Infowars.com right now.

00:00:48.000 Yeah, being a history buff, because it's so entertaining, I mean, I got into history because it's better than fiction.

00:00:55.000 I mean, the slave ships, the beating the people, the killing the white slaves, the white slaves all over the U.S., all over Australia. 0.98

00:01:05.000 Uh, you were allowed to kill them, but not kill the black slaves. 1.00

00:01:08.000 But see, they can't allow that out in the news, because then whites and blacks wouldn't hate each other, blacks wouldn't feel especially downtrodden and second class, wouldn't imagine every white person was their slave owner, when really, a few percentage points of whites even own black slaves. 0.98

00:01:25.000 Going back to Michael Hoffman, finishing up on this subject, then I want to get in to the roots of the New World Order, the occult empire, this amalgamation of groups, what you believe is at the heart of it, sir.

00:01:35.000 But anything else you wanted to add about white slaves and bringing it up to modern times?

00:01:40.000 Well, I think that you're right about racial reconciliation.

00:01:43.000 I believe that the people who are trying to harm blacks in America are the ones who are trying to establish some sort of genetic predisposition for enslavement And being passive in this way, and once you've done that, then you're controlling the minds of black people because you're giving them a permanent subservient status, and a permanent stigma of racial resentment against the white master, when that hasn't been the case. 0.68

00:02:09.000 The very definition of the word slave comes from the root of the word slav, because it was the slavs of Eastern Europe and Russia who had been hereditary slaves, For various economic and political reasons.

00:02:24.000 Well, if you read the Bible, with the Israelites, or the Romans, or anybody else, they were slaves of every color. 0.97

00:02:30.000 They were slaves of every color, and when we get deeper into this subject, we will also talk about how the Midrash and Rabbi Moses' mammothies caused black people to be associated with ham, And that the curse in Genesis on Ham was made a racial curse. 0.72

00:02:47.000 And for those who know their Bible, they know, of course, that there is no racial component to the curse on Ham in Genesis.

00:02:53.000 And then that was used to kick off the transatlantic slave trade in the mid-1500s and 1600s.

00:03:00.000 And provide the justification for it, yes.

00:03:02.000 Absolutely. 0.91

00:03:03.000 Now, I want to be clear about this, because blacks feel victimized, they feel like a subgroup, and all whiteys must pay. 0.99

00:03:11.000 Listen to Barack Obama's preacher, the blue-eyed devil. 0.97

00:03:15.000 And if you look historically in numbers, there have been more white slaves than there have been black slaves. 0.93

00:03:20.000 Now, again, this is the modern way of thinking.

00:03:22.000 That doesn't lessen what happened to them.

00:03:25.000 It's just like, again, if there's two bank robbers, you're not saying one's innocent and the other isn't.

00:03:29.000 It's saying that this is a button they have installed in the psyche of blacks where the government, the nanny state, can play the part of the provider when really they're carrying out eugenics operations against them. 0.78

00:03:41.000 Well, you mentioned the elite and how the people who are not elite are mostly concerned with animal appetites, whereas the elite is concerned with control.

00:03:50.000 But anyone who aspires to become elite or get into the elite, hopefully for benevolent reasons and not predatory ones, ...understands what maybe a lot of civil rights activists do not understand.

00:04:03.000 That if you don't take responsibility for your life, if you don't blame your life on yourself or take credit for your achievements on yourself, you can't get ahead.

00:04:12.000 You're psychologically crippled.

00:04:14.000 And yet we see this covert mechanism in American society where blacks are told to blame others. 0.98

00:04:20.000 That's not a way for them to get ahead.

00:04:22.000 It's a way to keep them out of the elite.

00:04:24.000 Second point here, Alex, when you mentioned Barack Obama's preacher, one of the things that troubles me about all of the negativity that's associated with that is Why is there not a commensurate amount of fury and media angst about John McCain's preacher, John Hagee, who is a man who forms what I call Ku Klux Judaism?

00:04:48.000 No, no, I agree.

00:04:49.000 Stay there.

00:04:50.000 Well, we actually expose the fact that he says Jesus isn't the Messiah and that worshiping Israel is the new religion.

00:04:56.000 We'll be right back with our guest.

00:04:57.000 Stay with us.

00:04:59.000 It is a big idea.

00:05:01.000 A new world order.

00:05:03.000 In the near future, Earth is dominated by a powerful world government.

00:05:08.000 It's known as the Bilderberg Group.

00:05:11.000 Could their objective be world domination?

00:05:14.000 For thousands of years, their dark order grew.

00:05:17.000 Now, as they hail the birth of the New World Order, their great dream of exterminating 80% of humanity is at hand. 0.93

00:05:27.000 For the first time in history, the elite's plan for world government is blown wide open.

00:05:33.000 You will learn the secret that drives the entire New World Order agenda.

00:05:37.000 Build America is making great progress toward a world government.

00:05:39.000 Most people have no idea.

00:05:40.000 They're not after money.

00:05:41.000 They have all the money they need.

00:05:43.000 That's what they're after these days.

00:05:43.000 They're after power.

00:05:45.000 Order In Game on DVD at PrisonPlanet.com or InfoWars.com.

00:05:49.000 Or watch it online right now at PrisonPlanet.tv.

00:05:53.000 In Game.

00:05:54.000 Blueprint for global enslavement.

00:05:56.000 You have been warned.

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00:08:10.000 Well, so does he.

00:08:11.000 He's Alex Jones on the GCN Radio Network.

00:08:15.000 And now, live from Austin, Texas, Alex Jones.

00:08:22.000 Author, journalist for the Associated Press, historian, We've only got him for about 20 more minutes, so I'm just going to try to shut up.

00:08:37.000 It just is all so intriguing.

00:08:39.000 And then I want to get him back for a full two hours in the next month or so.

00:08:44.000 Before he leaves us, let's just do it now.

00:08:46.000 Give out your websites.

00:08:47.000 Tell folks about some of the books you've written.

00:08:49.000 The website, Alex, is revisionisthistory.org.

00:08:54.000 And some of the books are, such as the one we've been discussing, They Were White and They Were Slaves, The Untold History of the Enslavement of Whites in Early America and Industrial Britain.

00:09:04.000 Secret Societies and Psychological Warfare, and I'm just finishing up a 900-page book, Judaism Discovered.

00:09:13.000 You also wrote Judaism Strange Gods.

00:09:16.000 Judaism Strange Gods in 2000, which was a groundwork for an introduction to the religion of Judaism.

00:09:23.000 This 900-page book, I style an introduction.

00:09:26.000 It's a vast subject, so even this large tome is still an introduction.

00:09:30.000 Well, I'm going to have you on about that, because people are fascinated with it, and it's important to understand our society and these cultures, how they've grown together.

00:09:38.000 Let's continue to get into, you were talking about Pastor Hagee, when we hit the last break.

00:09:43.000 Well, I just think that John McCain is getting a free ride here.

00:09:46.000 Obama has got to answer and continue to answer for his preacher, as he should.

00:09:52.000 Absolutely.

00:09:52.000 Certainly.

00:09:54.000 He should be responsible for this man's remarks.

00:09:56.000 Well, it hasn't been brought up about Clinton pardoning the Weathermen. 1.00

00:10:00.000 I mean, it's just stupid. 1.00

00:10:01.000 Look, Rush Limbaugh is calling for riots and burning cars and death at the DNC. 1.00

00:10:07.000 They just want crisis, crisis, crisis.

00:10:09.000 But go ahead and talk about Hagee.

00:10:12.000 Well, you know, it's interesting.

00:10:13.000 I believe that McCain is the candidate of the cryptocracy.

00:10:18.000 I think that Hillary is their fallback, and certainly they could deal with Obama if they processed him sufficiently.

00:10:25.000 But I'm a long-time student of the Israeli media, and I know from the Israeli media and from my own informants and counterintelligence that we have operating inside Zionism and so forth, that we see that they're very much in favor of John McCain.

00:10:40.000 They're worried about Obama.

00:10:42.000 And Clinton is acceptable.

00:10:46.000 So when you understand that, you understand how the media is treating McCain.

00:10:50.000 As far as I'm concerned, he's getting a free ride on Hagee.

00:10:53.000 Because Hagee, in my judgment, is a far more sinister character than Obama.

00:10:58.000 Well, Hagee is like a cartoon character.

00:11:01.000 I mean, statements like he praises God when Palestinian children are shot and Jesus isn't the Messiah. 0.89

00:11:07.000 I mean, even if you're an atheist, you have to know that that's asinine for a supposed Protestant preacher to be saying Jesus was basically a bad guy and was a rebellious person.

00:11:19.000 And then he goes to the different ADL meetings and apologizes for being a Christian. 0.84

00:11:26.000 It's saddening.

00:11:27.000 So why aren't we seeing that question that you just formulated put in front of John McCain?

00:11:32.000 Why aren't we seeing investigative reports in the Washington Post, the Wall Street Journal, the New York Times, along these lines?

00:11:38.000 We're not.

00:11:39.000 They're protecting him from the fallout there.

00:11:42.000 There is some token criticism and some token references, but nothing like Obama's facing with his preacher.

00:11:48.000 So I think the disparity between the two is very instructive.

00:11:51.000 Well, I agree with you.

00:11:53.000 Go to the root of this.

00:11:54.000 Next time we have you on, we'll do two, three hours to really cover all of this, to go back to the roots of a cult.

00:12:00.000 Because we can say the roots of the New World Order are in Egypt, we can say Babylon, we can say Solomon's Temple, but that was borrowing from the previous myths.

00:12:07.000 We know, I mean, from my studying of the New World Order, reading history books and reading really things that are, you know, Little known, but admitted historical facts that you have this weird obsession with Germanic power.

00:12:22.000 You've got then also the royal family of England, the German royal family, believing that they are really Israelites.

00:12:28.000 You've then got the supposed mainline Jews who are really Central European or Eastern European.

00:12:37.000 You've then got their weird behavior Radiating the Jewish children who were Sephardic. 0.99

00:12:42.000 It seems there's a war against the brown Jews. 0.78

00:12:45.000 You've then got weird Zionists supporting Hitler to the degree of not letting Jews get out of the country. 0.79

00:12:50.000 There's just so many weird similarities.

00:12:53.000 We know the Germanic cultures and the Britannic cultures merged with a lot of the Judaic stuff thousands of years ago, but as a historian studying this, I mean, when you get to the end of the day, isn't it a cultist that run it?

00:13:07.000 And then you've got two big branches that have grown together and are basically like the Rothschilds. 0.61

00:13:12.000 I see them as almost inseparable from, you know, the crazy leadership that's Germanic in Britain. 1.00

00:13:19.000 And then so to me, it's like a sub-Predator group above another Predator group.

00:13:24.000 I mean, what's the real hierarchy, according to Michael Hoffman?

00:13:28.000 Well, first of all, I want to define our terms.

00:13:30.000 We want to go to first principles, because when you talk about a cult, you start to turn off one section of the audience who thinks that you're mystifying political science and current events.

00:13:40.000 And I don't think either one of us is doing that, because a cult, when I'm talking about it, is the science of mind control.

00:13:48.000 And Arthur C. Clarke, who just recently passed away in Sri Lanka, defined any sufficiently advanced technology as having the appearance of magic.

00:13:57.000 And so, for various reasons, the elites have both wanted to manipulate religions and mystify issues, as well as keep alive the mind control system which goes into the eternal pagan psychodrama, and from that, exploit nations and people.

00:14:14.000 But you have given us a cornucopia of conspiracies and actors in the conspiracy, but I would say we can reduce it to the way Christ reduced it.

00:14:25.000 You're either Christ or you're Antichrist.

00:14:27.000 There is good and there is evil.

00:14:30.000 And I don't believe in existential shades of grey in this.

00:14:33.000 So, we can talk about a whole plethora of people, nations, and individuals who are involved, but we can also track this in a system How it originated, where it came from, and I would say that the cradle of it is Egypt.

00:14:48.000 The Talmud says nine-tenths of the sorcery that the evil one had, he gave to Egypt, one-tenth went to the other nation.

00:14:59.000 And actually, that was a left-handed compliment on the part of the Talmudic rabbis, because they're into sorcery, and it was an indicator, one of many, that they wanted to study and master what Egypt had. 0.82

00:15:11.000 And from Egypt to Babylon, from Babylon to the Talmud.

00:15:15.000 Let's be clear, this isn't just ooga booga.

00:15:17.000 This is how to know with mathematics when the next eclipse is coming to freak out everybody because the high priest can tell you a year before when it's going to happen.

00:15:26.000 That's why they build big buildings.

00:15:30.000 It's a whole system of shocking and making the people feel small and the government and those that run the seats of power as being gods.

00:15:39.000 Well, Egyptian archaeoastronomy, which you're referring to, and mystical toponomy in terms of the buildings and how they're situated is well known, but it seems to me that the manipulation of words and the notion that words had power and how they were to be utilized is lesser known in our circles, and certainly the Egyptians were masters of word manipulation and keywords.

00:16:05.000 Uh, which, uh, Dr. Carl Gustav Jung later on in the 20th century would talk about in terms of archetypes.

00:16:11.000 Which can trigger reactions in people.

00:16:13.000 So that's the other aspect.

00:16:14.000 And see, that's it.

00:16:15.000 So like the atheist world, which the globalists have made people atheists to blind them to the real sciences, that this is really a science, even if you don't believe there's a spirit behind it.

00:16:26.000 The elites, the ancient elites of 5,000 years ago, they figured out how to literally program people, and that's why they're occult practitioners, because that's really what it is.

00:16:36.000 And that programming and that pyramidal structure continues in our society today, yes.

00:16:42.000 Man, you're amazing!

00:16:43.000 I've got to have you up for two, three, four hours if you'll do it with us, but please continue.

00:16:48.000 And so, when we get into the Western secret societies, we see an anomaly, because it emerges in the Renaissance, where you have a group of avant-garde thinkers who were beginning to believe that they needed to study the Kabbalah, they needed to study Judaism, in order to advance the concept of human brotherhood.

00:17:09.000 And yet, the anomaly and the high irony here is that this is when they began to pick up the idea that black people were genetically predisposed to enslavement.

00:17:19.000 Because as they studied the Kabbalah and the Talmud, and they had been led to believe by various occult Pied Pipers that they were going to find a Let me stop you. 0.98

00:17:32.000 We now move forward to the Talmud and the Zohar, because the Jews had been in Egypt, they'd also been in Babylon, so they had been in all the different schools as wanderers, picking it all up.

00:17:43.000 Yes, the Mishnah, the first part of the Talmud, which existed in oral form in Jesus' time, And then, after Israel rejected its Messiah and became much more corrupt as a result, it was finally committed to writing.

00:17:56.000 That was done in Babylon in the 2nd, 3rd, and 4th centuries AD, and as a result of that, they did pick up, by a process of osmosis, a great deal of the paganism that was around them, so that the Talmud and the Kabbalah, the Mishnah, the Gemara, the Zohar, the Sefer Yetzirah, and these other texts,

00:18:15.000 ...are brimming with occult concepts and themes, and this is what I bring out in my book, that basically Judaism, far from being an Old Testament religion that clings to the Old Covenant and rejects Christ, is actually an ossified form of Babylonian paganism.

00:18:32.000 And this is what infiltrated the West, particularly in the Renaissance. 0.92

00:18:35.000 It had always been gestating there, but it only came into full bloom in the Renaissance, and then of course in early modern Europe, It came to fruition in the various Rosicrucian and Freemasonic cults. 0.82

00:18:47.000 Which aren't just about having sex orgies and pentagrams.

00:18:50.000 It's the whole science of wordsmithing, manipulation, brainwashing, mass programming, how to control societies. 0.63

00:18:58.000 And that's why, when you get to the top level, it doesn't matter whether, in my research, whether it's the SS or the Zionists, it's all the exact same people at the top, worshipping the same thing. 0.88

00:19:09.000 Well, you especially see this level of sophistication in a mathematician who was astrologer royal to Queen Elizabeth, Dr. John Dee, the author of many important mathematical texts which to this day are referred to, and yet he was the developer of this scrying concept, this concept of a secret alphabet.

00:19:29.000 He actually claimed to have contacted extra-human deities with whom he was in contact with His allies there in the Royal Court of England... Stop!

00:19:41.000 Stop! 1.00

00:19:42.000 Stop! 1.00

00:19:42.000 We gotta break. 1.00

00:19:43.000 Final segment.

00:19:43.000 We're gonna have to have him back up very soon.

00:19:45.000 You understand, ladies and gentlemen, it doesn't matter if you don't believe.

00:19:48.000 They believe.

00:19:49.000 And they built the world, the civilization you live in.

00:19:52.000 And they believe that their great day of mass extermination is coming for you and your family.

00:19:59.000 It is a big idea.

00:20:02.000 A new world order.

00:20:03.000 In the near future.

00:20:05.000 Earth is dominated by a powerful world government.

00:20:07.000 It's known as the Bilderberg Group.

00:20:11.000 Could their objective be world domination?

00:20:14.000 For thousands of years, their dark order grew.

00:20:17.000 Now, as they hail the birth of the New World Order, their great dream of exterminating the world, the civilization you live in, and they believe that their great day of mass extermination is coming for you and your family. 0.89

00:20:31.000 It is a big idea.

00:20:34.000 A New World Order.

00:20:35.000 In the near future, Earth is dominated by a powerful world government.

00:20:40.000 It's known as the Bilderberg Group.

00:20:43.000 Could their objective be world domination?

00:20:46.000 For thousands of years, their dark order grew.

00:20:49.000 Now, as they hail the birth of the New World Order, their great dream of exterminating 80% of humanity is at hand. 0.93

00:20:59.000 For the first time in history, the elite's plan for world government is blown wide open.

00:21:05.000 You will learn the secret that drives the entire New World Order agenda.

00:21:09.000 Build America is making great progress toward a world government.

00:21:11.000 Most people have no idea.

00:21:13.000 They have all the money they need.

00:21:13.000 They're not after money.

00:21:15.000 They're after power.

00:21:16.000 That's what they're after these years.

00:21:17.000 Order Endgame on DVD at PrisonPlanet.com or InfoWars.com.

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00:23:56.000 Taken daily, it removes these stealth pathogens, clearing our bodies of disease activators Look, I'm going to have Michael Hoffman on for two hours next Friday.

00:24:07.000 The second half of the show.

00:24:09.000 Look, I'm going to have Michael Hoffman on for two hours next Friday, the second half of the show, to really slowly go through the second half of the show, to really slowly go through all this

00:24:29.000 But I guess in the last five minutes we've got with him, I'll just let him talk about whatever he likes, other than I want him to give me his take on this.

00:24:41.000 I don't know what his take is, but I would imagine it's probably similar to mine because everything else seems to be similar.

00:24:46.000 The globalists, the controllers, the architects, They understand human activities, human interactions, how waves in a pond work.

00:24:55.000 And so they've designed it where if you fight one of their mechanisms, it's built to actually empower them and make them stronger, unless you strike at the root of it.

00:25:04.000 Like if, say, you attack Zionism, well, their own documents say it only makes their people support them more, thinking that they're being abused from outside.

00:25:12.000 Kind of like if you attack corrupt police in a wrong way, which I do all the time, out of primitiveness, that actually compacts them more into their gang mentality.

00:25:20.000 But then if you give people a wide spectrum that know, at the highest level, it isn't even one group, it's a mindset, a belief, then people can suddenly unlock that.

00:25:30.000 Kind of like he was saying about slavery.

00:25:32.000 It's important to understand that whites were slaves too, because then it ends this enmity, but that lie was put there so that we would have enmity and fight with each other. 0.51

00:25:42.000 And so this is all, I don't want to use the term delicate, it's just so sophisticated that I can see it, but it's hard to even articulate.

00:25:50.000 I guess that's why he writes 900 page books.

00:25:52.000 Do you agree with the statement I just made?

00:25:54.000 Well, yes, I do.

00:25:55.000 I would articulate it as not fighting with carnal weapons.

00:26:00.000 We know from Oklahoma City that the system loves violence.

00:26:03.000 They love that McVeigh and the conspiracy behind him attacked that building.

00:26:07.000 Bill Clinton was able to add a number of Orwellian police state laws.

00:26:12.000 And, of course, we know what happened with the 9-11 conspiracy.

00:26:15.000 But I don't believe there's any quick fix to this, Alex.

00:26:19.000 I believe that we need to organize, we need to build our communities, the reform starts with ourselves and our own lives with deep study and reflection, and then having organized be more a part of our own local communities, then together we can build on something which offers a pro-life alternative to this death system that they're imposing on us.

00:26:43.000 And if I may, I wanted to give my website one more time, if that's alright.

00:26:48.000 That's www.revisionisthistory.org.

00:26:53.000 Now, I've been meaning to get you on for years.

00:26:55.000 I don't know why I haven't, but here you are.

00:26:56.000 We're gonna have you back up.

00:26:59.000 It's just, take the example of Zionism. 0.72

00:27:01.000 You know, you talk about how that's a core global system right now.

00:27:04.000 Key to all of it, going right back to the roots of Egypt and Babylon. 0.97

00:27:08.000 But then I find hundreds of times where Adam Gadon poses as Al-Qaeda, the ideal, you know, head's grandson of Adam Perlman. 0.68

00:27:16.000 I see where they catch rabbis running white supremacist groups, British intelligence, German intelligence.

00:27:21.000 And then I see all these groups who think they're fighting this, and when they fight it only on that front, They don't see the big picture of it.

00:27:28.000 It's a system.

00:27:29.000 It's like a river cuts a Grand Canyon.

00:27:32.000 We're all in it.

00:27:33.000 We're all connected to each other, and it's much bigger than just that group.

00:27:37.000 And when I try to say, hey, it isn't one bank robber, it's ten bank robbers, but they're all guilty, people try to say no.

00:27:45.000 In fact, it's got to be this little niche.

00:27:47.000 Or I say, yeah, the Vatican's involved, but they're tied in with this group.

00:27:51.000 They go, oh, now you're defending the Vatican.

00:27:52.000 When all I'm trying to do is give people full spectrum.

00:27:55.000 Do you see what I'm trying to say?

00:27:56.000 Well, I think that one of the viruses or memes that's been implanted in our ranks is that there is an enemy people.

00:28:03.000 And whenever you go that way, and I don't go that way, then you're falling into their snare, Because the enemy is not any group of people.

00:28:12.000 The enemy is an ideology.

00:28:14.000 It's a spirit.

00:28:15.000 It's a spiritual ideology.

00:28:17.000 It can affect you.

00:28:18.000 It can infect me.

00:28:20.000 It can infect any nation of people.

00:28:22.000 No one is invulnerable to it.

00:28:24.000 And science is now showing that.

00:28:25.000 Monkeys in one research lab, five miles from another, if they can teach these monkeys, suddenly the other monkeys learn it.

00:28:32.000 It's like a radio waves being broadcast.

00:28:34.000 So much is undiscovered about the way that we are used, and more and more we're discovering how what was called magic in the past is actually science today.

00:28:45.000 But I do want to advise people to stay away from targeting any population, whether it's the Khazars, the Judaics, the Israelis, the Palestinians, or the Arabs. 0.62

00:28:56.000 They're not the issue.

00:28:57.000 Everybody is capable of having good will.

00:29:00.000 And of changing their lives.

00:29:01.000 The enemy is an ideology.

00:29:04.000 It's a spirit.

00:29:05.000 And if we stick to that, we can win, Alex.

00:29:07.000 And the globalists, this evil force, it recruits the intelligent.

00:29:11.000 It recruits the creative.

00:29:14.000 So that's why, at the highest places everywhere, you're going to find this spirit.

00:29:18.000 Because if you take that spirit, you're giving the earth, just like the devil told Jesus on the mountain.

00:29:24.000 Yes, that's true.

00:29:25.000 All right, well we appreciate you joining us and we really appreciate the time and we'll talk to you next Friday.

00:29:32.000 I'm going to have my producer call you in the next five minutes, sir.

00:29:35.000 Thank you.

00:29:35.000 I look forward to it, Alex.

00:29:36.000 Thank you.

00:29:37.000 He'll be with us two hours coming up.

00:29:39.000 In fact, just stay there.

00:29:39.000 I'd like to talk to you during the break.

00:29:41.000 We'll be right back with another special guest.

00:29:42.000 Stay with us.

00:29:43.000 All right, I have Joseph.

00:29:50.000 If you take that spirit, you're giving the earth, just like the devil told Jesus on the mountain.

00:29:56.000 Yes, that's true.

00:29:57.000 All right.

00:29:58.000 Well, we appreciate you joining us, and we really appreciate the time.

00:30:02.000 And we'll talk to you next Friday.

00:30:04.000 I'm going to have my producer call you in the next five minutes, sir.

00:30:07.000 I look forward to it, Alex.

00:30:07.000 Thank you.

00:30:09.000 Thank you.

00:30:09.000 He'll be with us two hours coming up.

00:30:11.000 In fact, just stay there.

00:30:11.000 I'd like to talk to you during the break.

00:30:13.000 We'll be right back with another special guest.

00:30:15.000 Stay with us.

00:30:15.000 We're on the march.

00:30:22.000 The Empire's on the run.

00:30:25.000 Alex Jones and the GCN Radio Network.

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00:31:20.000 Hi, this is Dave from Ready Reserve Foods.

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00:31:33.000 I have been waiting patiently for the government and mainstream media to inform you of what is turning out to be the biggest problem facing the world in the last 50 years.

00:31:40.000 For the last three years, the Earth has consumed more food than it has been able to produce, and it has now finally caught up with this.

00:31:46.000 In the U.S., commodities such as flour and rice are already being rationed, and the next rice crop won't be available for another four to five months.

00:31:53.000 It's fall in the Southern Hemisphere, and many countries are short the food necessary to make it through the winter and have stopped exporting certain commodities altogether.

00:32:01.000 Remember our trade deficit?

00:32:02.000 Trillions of dollars have stacked up outside the country and are now rushing in to buy our food production at any price.

00:32:08.000 By late summer, if not early fall, it is likely our government will step in and control food and food exports under martial law.

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00:32:59.000 They're not.

00:32:59.000 Joseph Stiglitz is our guest.

00:33:17.000 New book out, The Three Trillion Dollar War.

00:33:20.000 We had him on with us last January.

00:33:22.000 We also interviewed him here in Austin for the TV show.

00:33:24.000 And he said that within two and a half years, If the global financial order did not make some serious reforms, we would have the hyperinflation that could lead to a worldwide depression.

00:33:37.000 And you can go to the websites, InfoWars.com, if you want to read that article from last year.

00:33:41.000 He is a Nobel Prize winner in economics.

00:33:45.000 He is a former World Bank Chief Economist.

00:33:48.000 If I tried to go over his entire bio, it would take hours, but you can just Google Joseph Stiklitz.

00:33:54.000 He's written quite a few best-selling books as well.

00:33:56.000 The new one, The Three Trillion Dollar War, and that's just how much it costs now, not to mention our good name worldwide.

00:34:05.000 And so I really appreciate Joseph Stiglitz joining us.

00:34:08.000 Thank you for coming on, sir.

00:34:09.000 Nice to be here.

00:34:11.000 You were here about a year and four months ago, and you laid out in 20 minutes a forecast of what indeed happened, but we've gone about 90% near forecast.

00:34:23.000 I'm hoping the rest of the 10% isn't correct and we don't have a depression in another two years.

00:34:29.000 What do you see happening?

00:34:31.000 Well, actually, the prospects of our economy right now are not very good.

00:34:37.000 To some extent what happens depends on what the American government and other governments do.

00:34:43.000 But right now, even the IMF, and I've often disagreed with the IMF, but right now I think they're on target.

00:34:51.000 They are saying that the American economy is going to be very weak, not only this year but next year, and it won't be until 2010 before the economy really starts to show a recovery.

00:35:04.000 Part of the problem is that the current administration has been doing too little too late.

00:35:11.000 What they've been doing is not well designed, and the fundamentals of economic policy are that it takes a while Before any action that you take has full effect.

00:35:22.000 So if this administration isn't going to do anything, it's going to be until the next administration comes into office.

00:35:31.000 And that means that we won't begin to get the right medicine until the beginning of 2009.

00:35:38.000 of 2009, and that means we're talking about late 2009, 2010, before we start seeing really a solid recovery.

00:35:48.000 Now, a lot of people are throwing around the term depressional.

00:35:53.000 A lot of top economists have.

00:35:54.000 You've used that term before.

00:35:56.000 A depression, I guess, would be... I would be a little bit cautious about using that term.

00:36:03.000 I think that we tend to reserve that for the Great Depression, or for the kind of situation that was in the island of Java in 1997.

00:36:17.000 A breakdown, a collapse, starving, but I mean, a recession, you're the Nobel Prize winning economist, but tell me if I'm wrong, a recession is two continual quarters of zero growth, and then a depression would be how many quarters?

00:36:32.000 Well, we usually think of a depression as really very strong negative growth for an extended period of time.

00:36:42.000 But it doesn't make any difference.

00:36:44.000 The fundamental question is whether the U.S.

00:36:46.000 economy is going to be performing below its potential for an extended period of time.

00:36:52.000 On that, I think there is almost unanimity now among economists.

00:36:58.000 That we're looking towards an extended period of the economy operating below its potential.

00:37:07.000 And there's a very simple reason, and part of the reason why there's a little bit of discussion, depression, is that the fundamental reason for this downturn is very similar to that of the Great Depression.

00:37:20.000 Weaknesses in the financial system.

00:37:22.000 The losses that the banks are incurring, the financial system incurring, are quite literally mind-boggling.

00:37:33.000 We're talking about hundreds of billions of dollars.

00:37:35.000 We've seen lots of write-offs.

00:37:38.000 And the IMF estimates the total amount to be nearly a trillion dollars.

00:37:45.000 And then there's that cascading effect as you have the bubble popping, everybody leveraged out in the western world, more and more housing crises with subprimes, more and more of all these instruments that are AAA rated.

00:38:02.000 It's all leading towards, I mean you said here a year ago that, I mean you talked about the term depression, now you, I guess things are so serious you don't want to use that term.

00:38:15.000 What I'm trying to understand here is how we could get out of this, where you see this, hey where do you see it going with the current management and the different The basic thing is that what happens to the financial sector is not unconnected.

00:38:31.000 It's very closely connected with the real sector.

00:38:33.000 Yeah, the basic thing is that what happens to the financial sector is not unconnected, it's very closely connected with the real sector.

00:38:43.000 Wall Street and Main Street are very closely linked.

00:38:47.000 If, as is what's happening, the financial sector is having serious economic problems, It has no choice but to start raining in credit.

00:38:57.000 If it's not making loans, individuals, households, firms can't do the investment that they would otherwise have done.

00:39:06.000 As they cut back their economic activity, the whole economy slows down.

00:39:12.000 And the whole thing just sort of unravels.

00:39:17.000 And that's what we're beginning to see go through our economy going through.

00:39:22.000 Now, you are absolutely right, and I've been talking about this actually now for several years.

00:39:27.000 It was so clear that we faced a housing bubble, and that housing bubble was sustaining a consumption boom.

00:39:35.000 Savings in the United States plummeted to zero, some quarters negative.

00:39:41.000 It was clear that that was not sustainable.

00:39:43.000 What was going on?

00:39:45.000 Well, it's pretty simple and it's actually related to my book, The $3 Trillion War, where I argue that, in fact, there's not two issues in this campaign, but one, the war and the economy are very closely connected.

00:39:58.000 The war was having a very negative effect on the economy for a variety of reasons that I spelled out.

00:40:03.000 The Fed said we have to cover it up.

00:40:07.000 Our job is to keep the economy going.

00:40:10.000 And they did it in a very short-sighted way.

00:40:13.000 They let loose a flood of liquidity and loose regulations.

00:40:17.000 And what happened was it did cover up the negative effects of the war.

00:40:24.000 But we were living on borrowed money and borrowed time, and a day of reckoning had to come.

00:40:30.000 We couldn't predict when it was going to come, but we knew that it was going to come.

00:40:33.000 So in layman's terms, how bad is it going to get?

00:40:36.000 Because I've had the head of the New York Business School on, I've had all these other former Treasury policy heads, I've had the Shadow Stats people on about what real inflation is, like 15% now.

00:40:50.000 Look at the food, look at the oil, look at the dollar plunging.

00:40:53.000 And then Bush is out giving speeches saying we're not even in a recession.

00:40:56.000 He said that two days ago at the SPP meeting, you know, on the North American integration.

00:41:02.000 I mean, it's just...

00:41:04.000 And, you know, the old cliche of, it's a recession if your neighbor's out of work, it's a depression if you're out of work.

00:41:10.000 I mean, if half the Social Security check value has been cut in the last five years, compounded, and believe me, I know, I've got families on Social Security, if people are out of work, if I'm seeing more homeless people, if there's houses going, you know, all over the place going under, I mean, hell, this is just the beginning, Mr. Stiklitz!

00:41:27.000 How bad is it going to get?

00:41:28.000 Worse.

00:41:29.000 I mean, we expect now, at least in the next year, about 2.2 million Americans will lose their homes, and with that, much of their life savings, many of these will lose their entire life savings.

00:41:43.000 The forecast is that housing prices, already going down 10%, are probably going to go down another 10 to 20%.

00:41:52.000 When that happens, we're not sure how many houses will be underwater, but numbers, 14-15 million households will have mortgages exceeding the value of their house.

00:42:06.000 We're in for, very unlikely, a very bad time.

00:42:11.000 Now, the President is trying to push the problems of the economy onto the next administration, just like he pushed the problem of the war onto the next administration.

00:42:20.000 I think he'd hoped that the whole bubble wouldn't break until after November 2008, but it began to unravel in August 2007.

00:42:30.000 Like so many other things in the last few years, they haven't gone quite according to plan.

00:42:37.000 The big uncertainty, as I say, is what will be done.

00:42:46.000 Let me tell you some of the things that need to be done.

00:42:50.000 We need a stimulus.

00:42:51.000 The President seems to think that a tax cut is the solution to all problems, particularly tax cuts for the rich.

00:42:56.000 In fact, I would argue that our current problems actually began with the 2001 tax cut, it actually set us on a wrong course.

00:43:08.000 What about the argument that cutting taxes generally raises the general amount of tax receipts because it accelerates the economy?

00:43:17.000 You know, that old idea of supply-side economics, it was totally discredited in the 80s, and you see it right now.

00:43:24.000 The way that I was supposed to work it... But I thought increased spending, I mean, more money did come in.

00:43:28.000 Well, let me try to go through the two sides of it.

00:43:30.000 On the supply side, that's the traditional argument, is that it's supposed to encourage labor supply and savings.

00:43:38.000 Well, it hasn't exactly done that.

00:43:39.000 Savings has gone down to zero.

00:43:41.000 I don't see how you can say that the tax cuts help savings.

00:43:45.000 No, it's not the opposite, no.

00:43:46.000 Uh, and labor force participation, which is the labor side, is weaker than it was in the 90s, so it hasn't worked.

00:43:53.000 Now, on the demand side, it did help a little bit, but much, much less than would have been the case had we given a tax cut to lower middle-income Americans.

00:44:04.000 We gave tax cuts to the very rich Americans.

00:44:07.000 Oh, I agree.

00:44:08.000 We need to slash taxes on the middle class. 0.82

00:44:11.000 The problem is the blue collar folks think the middle class are the elite, Dr. Stiglitz.

00:44:16.000 I mean, that's the larger issue.

00:44:18.000 And I want to get into your book in the time we've got, in the 15 minutes we've got left before we end this at 58 after with you, sir, because it's a very powerful book.

00:44:28.000 I saw the Financial Times of London about eight months ago say the headline that bigger institutional banks could stand to gain from all this, and that they all played the game of issuing liquidity.

00:44:40.000 They bought real assets, they grabbed infrastructure, they grabbed different commodities, and then now governments are coming in, bailing that out, they're gobbling up more banks.

00:44:50.000 The Federal Reserve is talking about taking over three federal Federal regulatory agencies, the private Fed, you know, more foxes watching the hen house.

00:44:59.000 And so I also see a predatory capitalism, and I'm for capitalism but not the predatory crony type, here where it's not just a bunch of people screwing up, it's a bunch of reckless people that knew they could create a money bubble that they could use to literally buy the planet up with, and then we the people get left holding the bag with hyperinflation and with taxes to pay it back.

00:45:20.000 Well, you know, you've identified one of the big problems.

00:45:22.000 What we've been doing is we've been socializing risk and privatizing wealth.

00:45:27.000 And, you know, the banks walked off.

00:45:31.000 A lot of the investors, investment banks walked off their senior officials with these huge bonuses, some exceeding a billion dollars.

00:45:44.000 Meanwhile, the taxpayers are being left to pick up the risk.

00:45:48.000 You know, the Federal Reserve exposed the taxpayers to a $29 billion risk.

00:45:53.000 And we don't even know.

00:45:55.000 It was done in so non-transparent way.

00:45:57.000 We don't know fully how much we are totally at risk for it.

00:46:03.000 meanwhile Bear Stearns shareholders walked off with over a billion dollars of money totally without paying a cent of insurance premium for the risk that taxpayers have picked up.

00:46:17.000 I mean notice Bear Stearns got their bonuses right before all this happened.

00:46:21.000 That was very suspicious.

00:46:23.000 Was that used as a cover for JP Morgan Chase being in trouble that they grabbed Bear Stearns because there's talk that they were in trouble as well, and there are a lot of other brokerage houses that were in worse trouble than Bear Stearns, but I mean, that was very strange what happened there.

00:46:39.000 Oh, I agree it was very strange.

00:46:41.000 All I can say is that there's a lot of lack of transparency in the financial markets, and to be honest, we don't really know what is going on.

00:46:54.000 Well, as you know, sir, in the last month, three big central bankers in Europe have said that in mid-March we narrowly avoided total financial collapse.

00:47:02.000 Now, I know you're a very important person, Nobel Prize winner, former Chief Economist, World Bank.

00:47:06.000 You don't want to freak people out or anything, but, I mean, on the good side, What, two or three years of recession, tell me if I'm wrong, and then we come out of it with some new bubble, and then we just kind of have some inflation.

00:47:19.000 On the bad side, just war in the streets, starving people, running around with machine guns.

00:47:24.000 I mean, the government's building FEMA camps, it's in the news.

00:47:27.000 Bush has said he's gotten ready for martial law.

00:47:30.000 I mean, I'm sure you're an educated guy, you've seen that in the news.

00:47:33.000 The government's acting really weird right now.

00:47:35.000 What are the chances of the good side, bad recession, bad side, depression, really bad side?

00:47:40.000 Right now, the world is in a rather unusual situation.

00:47:42.000 And now, most people can't even have their own food, you know, don't live on farms.

00:47:46.000 Well, right now, the world is in a rather unusual situation that at the same time we're facing one of the most troubling periods in terms of economic downturns with this almost trillion-dollar losses on the financial system.

00:48:03.000 We are also facing high levels of inflation that you referred to earlier.

00:48:07.000 Price of oil is over $100 a barrel.

00:48:11.000 Price of food is reaching new, is skyrocketing.

00:48:15.000 While things are bad in the United States, We have to remember how much worse they are in most of the developing countries.

00:48:26.000 They have to spend most of their money to get by on food and energy, and with food and energy prices soaring, they're having real trouble.

00:48:36.000 And it's not a surprise that riots have been breaking out in many developing countries, and I anticipate to see more of that.

00:48:46.000 And that just highlights the difficulty that the global economy is facing.

00:48:52.000 Meanwhile, a few billion dollars could have fed these people, but instead, like your new book says, three trillion has been spent.

00:48:59.000 So who are the real culprits?

00:49:00.000 I mean, who are the bad guys in all of this?

00:49:03.000 I mean, who are the main companies, the main individuals?

00:49:05.000 We know it's bigger than George Bush, Mr. Stiglitz.

00:49:08.000 Well, the point that you just made, I just want to emphasize, three trillion dollars is a lot of money.

00:49:14.000 A lot of money.

00:49:15.000 And if we expend that on helping people in the developing countries, helping America!

00:49:26.000 I was just in Gary, Indiana, the city I was born in, and talking to the mayor, and he said, you know, three trillion dollars, we can't get three cents out of the federal government.

00:49:37.000 Our city is decaying, schools need help, our road infrastructure filled with potholes, and we just can't get the money that we need to help revive our economy.

00:49:47.000 And it's no-bid contracts to Dubai.

00:49:49.000 Halliburton is even here now.

00:49:52.000 Well, that is another part of the scandal.

00:49:56.000 You asked who were the winners.

00:49:58.000 There are actually only two winners in this war.

00:50:01.000 The oil companies have made out fantastically with the soaring oil prices, but the real winners are the defense contractors, and number one on that is Halberton.

00:50:12.000 Their stock price has almost tripled.

00:50:15.000 In previous wars, There's been a sense of shared sacrifice.

00:50:24.000 You send our young men and women off to fight.

00:50:27.000 The rest of us make a contribution by paying taxes.

00:50:31.000 There's an effort to make sure that there's no profiteering.

00:50:34.000 Well, this is the first war in America's history that we put entirely on the credit card.

00:50:39.000 And that's what Lee Iacocca said.

00:50:40.000 Stay there, Joseph Stiklitz.

00:50:42.000 The new book, ladies and gentlemen, bookstores everywhere will tell you about it.

00:50:47.000 The $3 trillion war on the other side of this quick break with our guest.

00:50:51.000 We'll have five minutes with him on the other side.

00:50:54.000 Really appreciate him spending time with us today.

00:51:00.000 Let me talk to him.

00:51:01.000 ...taxes.

00:51:03.000 There's an effort to make sure that there's no profiteering.

00:51:06.000 Well, this is the first war in America's history that we put entirely on the credit card.

00:51:11.000 And that's what Leon Koca said.

00:51:12.000 Stay there, Joseph Stiklitz.

00:51:14.000 The new book, ladies and gentlemen, bookstores everywhere will tell you about it.

00:51:19.000 The $3 trillion war on the other side of this quick break with our guest.

00:51:24.000 We'll have five minutes with him on the other side.

00:51:26.000 Really appreciate him spending time with us today.

00:51:31.000 It is a big idea.

00:51:33.000 Of course, if that happens, we know it's a disaster.

00:51:37.000 Well, that's what I'm saying.

00:51:38.000 What do we do?

00:51:40.000 I mean, if they continue the war, continue all the spending and it doesn't stop, doesn't that assure a depression?

00:51:46.000 I mean, if they don't make the reforms now, then it seems like they're not going to make any of the reforms.

00:51:51.000 Well, I think the good news is that we have democracy and I think there's enough anger about what is going on.

00:52:03.000 The fact is that money that, you know, they've defended what they've done on the basis of a need for security, but actually our security is less.

00:52:14.000 as a result of this war.

00:52:16.000 Well, exactly.

00:52:17.000 There weren't many real terrorists before, but now the army admits that it's been a factory creating them in Iraq. 0.92

00:52:23.000 That's right.

00:52:24.000 Al-Qaeda was not there in 2003.

00:52:26.000 Now Al-Qaeda is there.

00:52:28.000 Well, what about the asinine statement that, and we'll talk about this scenario when we get back, the asinine statement that Iran is Al-Qaeda, and then McCain just said to Petraeus last week in the testimony, isn't Iran Al-Qaeda?

00:52:40.000 And Petraeus said, yes, they are.

00:52:44.000 No, I mean, it's totally different.

00:52:45.000 In fact, their perspectives on even Islam are totally different.

00:52:51.000 Okay, well, let's just come back, talk about the book, you know, ending the war, what some of the steps are to reverse this, and then what will happen if we don't do something about the spending and all the insanity?

00:53:02.000 Oh, and we only have five minutes when we get back.

00:53:06.000 Can you tell folks how low you think the dollar will go?

00:53:09.000 I mean, just tell me.

00:53:10.000 How low do you think the dollar is going to go, sir?

00:53:14.000 It's very hard to predict that, and the reason why it's very hard to predict that is that it depends more than almost anything else on what governments do.

00:53:24.000 One of the problems is a lot of discussion about whether the European Central Bank is going to increase interest rates, lower interest rates, The new high in the dollar that just happened this week was a result in part because the rumors that the European Central Bank was going to raise their interest rate.

00:53:51.000 Stay there, several are online right now.

00:53:53.000 Here we go.

00:53:55.000 Join the info war today.

00:53:59.000 The Genesis Communications Radio Network proudly presents the Alex Jones Show.

00:54:05.000 Because there's a war on for your mind.

00:54:08.000 We had We Are Change On, Jack McClam, William Lewis, a bunch of other guests.

00:54:14.000 That'll all retransmit on the internet.

00:54:16.000 This is the Eminem Show right here.

00:54:20.000 In five minutes at Infowars.com if you missed any of it.

00:54:23.000 I mean, we came in directly with guests today for the four hours.

00:54:26.000 Joseph Stiklitz, former Chief Economist, World Bank, Nobel Prize winner.

00:54:30.000 He left in 2002, exposed a lot of the internal corruption, the IMF riot, how they go in and want economies to crater so they can buy it up, the 100-point plan, all of that.

00:54:41.000 I've got to get him back up, and I hate even talking over him.

00:54:43.000 I just have so many questions.

00:54:45.000 Your new book, The $3 trillion war, breaking this down, if we don't end the war, and it costs another $3 trillion in five years, will that ensure a deeper financial crisis, or is this good for us?

00:55:00.000 Oh, it's definitely not good for us.

00:55:01.000 You know, the idea that goes back, a myth goes back to World War II, that wars are good for the economy.

00:55:08.000 Guns and butter.

00:55:11.000 But we know at least since the time of King that you can stimulate the economy without going to war.

00:55:17.000 And these other ways, investments in education, health, roads, infrastructure, We have long-term productivity effects.

00:55:26.000 Nobody ever said that wars have good long-term productivity effects, increase your living standards.

00:55:31.000 This particular war has been very bad for our economy, and the easy way to see that is spending money on a Naples contractor working in Iraq just doesn't provide much stimulus to the economy anywhere near as much as spending the same amount of money building a road in the U.S.

00:55:50.000 And this war has also been bad because it set forth the rise in oil prices.

00:55:56.000 Don't you also have the fraud associated?

00:55:58.000 You know, 15 million dollar Halliburton blue tarps?

00:56:02.000 Yeah, I mean, that's an example of, you know, that kind of spending doesn't help the American economy.

00:56:11.000 And to make it even worse, Halliburton operates offshore.

00:56:18.000 So, it doesn't have to avoid taxes, that it doesn't pay Medicare and Social Security taxes.

00:56:26.000 Normally, we would be coming down hard on anybody.

00:56:29.000 But it's Dick Cheney!

00:56:30.000 Why are we seeing this level of arrogance?

00:56:33.000 Even Lee Iacocca has come out and said we have a criminal corporate elite running the White House, running the government, destroying the nation.

00:56:40.000 Did you see those quotes?

00:56:42.000 No, I didn't.

00:56:43.000 But it is astounding.

00:56:45.000 And the problem is, it's not only bad directly for our economy, It undermines confidence in our country.

00:56:54.000 Anybody who wants to deal with the United States says, you know, what's going on here?

00:56:58.000 Exactly!

00:56:59.000 So we've only got two minutes left, and I want to talk about the book, but then it doesn't look like the war is going to end.

00:57:04.000 They're building all these permanent bases, calling them embassies.

00:57:07.000 The name's been destroyed.

00:57:09.000 They say we're going to be there forever.

00:57:10.000 The other political candidates say, well, we'll keep some troops there.

00:57:13.000 It looks to me like what you said a year ago is happening.

00:57:16.000 They're not going to change course.

00:57:18.000 Uh, I think they won't change course unless the American voters come out and give a very strong message.

00:57:25.000 You know, we're spending $12 billion up front every month that we're in Iraq, but actually the total cost, which includes the disabilities, about 40% of the people coming back from Iraq are disabled, some with absolutely horrible disabilities.

00:57:39.000 When you start including all the other costs, it's about twice that.

00:57:43.000 Anybody who says, stay the course, has to say how we're going to be able to afford $25 billion a month.

00:57:48.000 But even that doesn't take into account the full cost, because at the beginning of the war, we were spending $4 billion a month.

00:57:55.000 Now we're up to $12 billion.

00:57:57.000 The longer we stay, the monthly charge goes up.

00:58:00.000 So we're going to be, you know, staying there every month is going to cost more and more and more.

00:58:06.000 Sir, we're out of time.

00:58:09.000 Just absolutely incredible.

00:58:11.000 Stay right there.

00:58:11.000 I'd like to speak to you for one moment when the show ends here on the network.

00:58:17.000 Retransmission starts right now at InfoWars.com.

00:58:20.000 I've got to get you back up on the show because I want to find out what your take is.

00:58:24.000 I respect it.

00:58:25.000 If it's not going to end, then what will become of us?

00:58:32.000 Okay.

00:58:37.000 Going back to you, Mr. Stiglitz, just here at the end, I mean, your real take on all this, it doesn't look like to me that they're going to change course or stop, and that this is really just a giant looting enterprise that's going on, and that everything's gone completely criminal.

00:58:52.000 Well, I think, I mean, what you're saying is, you know, we're a rich country, we can afford it.

00:59:02.000 Uh, in the sense that we aren't going to go bankrupt overnight, but it's very corrosive and our living standards will be going down.

00:59:11.000 And what's particularly hard is the impact on the average American, the median American, the person in the middle.

00:59:19.000 Income today is lower than it was in 1999.

00:59:23.000 And the fact that the more and more we spend on the waste in this war, the lower and lower their income is going to be.

00:59:29.000 And we don't have the money to invest it.

00:59:32.000 Well, I mean, you didn't feel good a year ago about what they were doing to stop this.

00:59:35.000 Do you feel good now?

00:59:36.000 Do you think they're going to fix it?

00:59:38.000 Uh, no.

00:59:41.000 I feel more and more depressed, but I do, quite frankly, I am optimistic that if Obama gets elected, he knows that he has to change things.

00:59:54.000 But you're not confident about Hillary and McCain?

01:00:00.000 Well, I know about McCain.

01:00:01.000 He's made it very clear. 0.60

01:00:02.000 Bomb, bomb, bomb, bomb, Iran? 1.00

01:00:05.000 Exactly.

01:00:06.000 So I think that one can anticipate that if he gets involved, things could get much worse.

01:00:14.000 Well, Mr. Stiglitz, I don't want to abuse your time.

01:00:17.000 I want to thank you for the time you've spent with us, and maybe I can have you back up a little bit sooner than a year, so we can really flesh it.

01:00:24.000 Sure, let's do that.

01:00:25.000 Well, thank you so much, and thanks for writing the book.

01:00:27.000 Okay, great.

01:00:28.000 Take care.

01:00:29.000 You bet.

01:00:30.000 John, good job to you guys at the network.

01:00:32.000 I want to let you get disconnected so other stuff can come up.

01:00:34.000 And I want to thank the folks here running things.

01:00:35.000 I'll see you this Sunday, 4 to 6 p.m.

01:00:37.000 and back live next Monday, folks.

01:00:39.000 And we're bringing you the best guests, the best info, all of it right here.

01:00:43.000 Please become a PrisonPlanet.tv member if you're out there listening and want to see the video of the fourth hour and into overdrive and some behind-the-scenes things you won't get anywhere else because that capital helps us operate.

01:00:53.000 We're in very, very serious times.

01:00:55.000 You just heard him say worse than what he thought last year.

01:00:57.000 He talked about depression last year.

01:01:00.000 And the fourth hour is over now.

01:01:03.000 I had Luke Rodowski and others on with the incredible news of them being framed in the first hour.

01:01:08.000 That retransmission starts right now at InfoWars.com.

01:01:12.000 So go there and check it out.

01:01:14.000 God bless you all.

01:01:15.000 Take care, John.

Alex Jones Show - April 25, 2008

20080425_Fri_Alex

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