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May 1 2004 Art BellMay 1 2004 Art Bell
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World News:
Commercial Break
Just before Art came on the air, this story broke from the Independent. There are a lot of new climate stories coming out.
Our own CIA actually uses some British publication to leak stories that might not otherwise get into the American media.
There seem to be an aweful lot of things that might not be politically popular in this country end up appearing in the British press first, or only.
Antarctica is likely to be the world's only habitable continent by the end of this century, according to Sir David King. He claims that we are due to enter the 60 million year period of warming where there is no ice on the earth. Claims that the greenhouse gases are 50% greater than anytime in the last 420,000 years. 379 parts per million is the current amount. 60 million years ago, the levels soared to 1000 parts per million, causing a massive reduction in life. Warns that if we do not stop burning fossil fuels, we can reach that point by 2100.
There has been a relentless pounding of central America with super cells popping up. This creates a lot of static. Those people are getting battered.
Art believes that people care a lot more about the environment that Rush Limbaugh thinks. People understand this is the world we live in. This is our nest.
Also from Unknown Country: Time Travel may be real. Scientists are learning how to do it. Carlos Dahl says that a big problem for science is common sense. It doesn't work in physics.
Brainscans show that if we are concentrating on the time, instead of the activity, which triggers activity that makes time seem to move more slowly... The same parts of the brain that are involved in motor function are involved in time detection.
All kinds of UFO sightings over the nation of Iran. They are thinking they are ready to be invaded. Flying saucer fever is gripping Iran after dozens of sightings in the last few days. The head of the astronomical society thinks that stories are unfounded because they haven't seen them in their telescopes. The eyewitnesses are said to not be experts. "What people reported was consistent with the planet venus."
Caller calling about the chem trails, and con trails. Back in 2001 everyone was talking about chem trails, and people were saying a purpose of the program was to change the weather. Some thought it was to slow global warming, others think that it is to increase global warming.
Art says that he has not been a big conspiracy theorist. He doesn't jump to them as the first answer to difficult questions. It is not the most probable answer to him.
Remarked again about the spectacular photo of con trails in the south east of the U.S. on the website.
Commercial Break
If UFOs land on the earth, there is a protocol already in place. We already have plans of how to deal with this including hazmat crews.
Caller very complimentary of Art. Remarking about Coming Global Superstorm. Two day miniseries on the TV tommorrow. Caller is listening on KFI. KFI can be heard in Hawaii, can be heard in Nevada, it can even possibly be heard on the East Coast.
Second caller, John in Nevada, hoping to be far away from San Andreas fault if nukes were exploded in the fault. Wanting to remark on climate change. Art says the change in climate is underway, whether man made or cyclical, we shouldn't "have our heads in the sand". The caller thinks that man made effects on climate must be small.
Joseph Meyer is professional money manager with a management firm. Involved in arbitration on NASD.
Art asks why he is speaking out publicly.
Got into wall street in 1966. Bought his first shares as a 19 year old. Even if you can show your concerns about the market with very hard statistics, they still don't care.
The media thinks if we keep telling the public that things are fine, then things will get better. When people feel good, they go out and spend money.
Art mentioned the outsourcing of jobs. It's such a giant problem, and Art doesn't see a solution to it. He asked Joseph what he would do.
First must understand how bad the current employment situation is. 24% of jobless workers have been unemployed for 27 weeks, this is a 40 year high. 42% of americans are making minimum or no payment on credit card balances. Fastest growing segment getting in over their heads is the elderly. They are using credit cards to close the gap and maintain their old lifestyles. The credit card companies are issuing late fees and penalties, and these are 30% of their profit.
Many people say that when they loose a job and find another, they often only earn half of their previous salary. The current job market is very bad.
Companies have a right to manufacture their widgets profitably. But then they expect to bring it back into the U.S., and expect us to buy it. Joseph thinks we should heavily tax such imports so that the import is discouraged.
Art points out how that is a problem. If we stop the flow of these bargains, what would that do to America? Would there be a demand for things we are not prepared to deliver.
Joseph says we can't compete with sweatshop labor. This change would result in drastic changes. The corporations should be given tax incentives to hire US workers.
Art says the picture is that things have changed. America has become an information nation, but can we ultimately win as an information nation? Minus the manufacturing we used to do?
Joseph has to question because now that we have dismantled our manufacturing, and the military is left as the major force. There are 5 major problems moving forward
As for savings, what is going on that we don't save? Is it that we don't have the disposable income to put away, or is it that they dont want to.
Current the savings rate is less than 3 cents on the dollar earned. We don't have the money to save. It's not a matter of free-spending Americans vs. the thrifty Japanese. Japan leads the world, and Germany is second in the world in terms of savings rate.
Art: If the United States goes from recession in depression, and lots of things that can tumble us there quickly, that would have a large impact on other countries?
Absolutely.
Art: It would be a world wide depression?
Yes!
Art: So other countries want to see our heads stay above water?
Absolutely.
The war in Iraq is continuing to cost us tremendous sums of money. It has already cost us more money than we ever thought. Joseph feels there are parallels with Vietnam. Art Bell doesn't see how we will get out, and doesn't understand exactly why we went in.
Joseph really questions whether we have an exit strategy in Iraq when we went in. Did we have an exit strategy in place? Art wants to go back further and ask if we had an entrance justification. It seems that some of the intelligence we had may not have been fully accurate. Art asks if we had a good entry reason.
Joseph says we had a strong basis for invading the country, but our inability to find the weapons of mass destruction is a problem given all the time we have.
Art asks if there is an economic reason for us to go to war.
Iraq has the second largest oil reserves in the world. We never gave the Iraqi's the same level of help as the Saudi Arabians. Joseph would not rule out oil as a reason for going to war.
Art asks about us occupying Iraq, and if we have ratcheted up the oil production? Joseph thinks the problem is too fold: 1) more resistance after the invasion 2) during the first weeks of the war, a lot of the oil pipelines were destroyed by the Iraqi's, and it will take years and millions of dollars to restore them.
Art asks if oil was a major reason for the invasion of Iraq, was it to the point where Sadaam Hussain was so bad that the oil wasn't flowing, that it caused us to go in? Joseph thinks there are two answers: 1) everyone is aware that the Saudi oil fields will run dry. A decision had to be made about where we would have access to oil if the Saudi's got in trouble. I think this was part of the equation. 2) Sadaam was threatening to not take payment for oil in U.S. dollars anymore, and wanted to get payment in a European currency. That and the possibility of him having WMD, justified us going in.
Saddaam was demanding Euros for the payment of his oil.
Art asks how big a motivation this was in Washington? Saddaam suddenly wanting euros instead of dollars? Was that the major reason we went to war? Was that enough of a reason to invade a nation?
Since 1945 the dollar has become an accepted world currency. But now the dollar is eroding, and could we get to the day when the dollar is totally worthless? The oil producing countries, such as back in 1973, and they were interested in taking payment in a basket of currency. That was the start of significantly higher interest rates.
Commercial break
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